U.S. consumer debt dropped a record $21.6 billion in July. How will this affect an economic recovery? Larry Mantle also discusses the business challenges for the ports of Los Angeles and Long Beach. Then, a preview of President Obama's speech to Congress on health care reform. And do people respond to disasters with goodwill more than panic? Larry talks with Rebecca Solnit, author of "A Paradise Built in Hell", about the altruistic behavior that arises from natural and man-made catastrophes.
Drop in debt may hurt economy?
U.S. consumers cut out $21.6 billion in debt in July. Great news, right? Not quite, say some economists. While undoubtedly good for individuals, overall economic recovery will be slower. Yet, with a mortgage and foreclosure crisis, isn't a little less debt a good thing? Larry Mantle learns more about the new numbers.
Guests:
Christopher Thornberg, Principal, Beacon Economics
Josh Bivens, economist at the Economic Policy Institute
Peter Morici, Economics and Professor at Smith School of Business, University of Maryland
LA's ports in ship shape?
The ports of Long Beach and Los Angeles generate nearly $200 billion in trade each year. But, LA Business Journal editor Charles Crumpley worries that's all about to change. The Port of Seattle is waiving its fees. And, the Panama Canal is about to get wider, giving Texas and Alabama ports a chance to compete for shipping traffic. Will SoCal ports keep up? Larry Mantle learns more.
Guests:
Charles Crumpley, Editor of Los Angeles Business Journal
Melissa Lin Perrella, Staff Attorney for Natural Resources Defense Council
Alex Cherin, Managing Director of Trade Relations and Port Operations for the Port of Long Beach
Obama health reform speech preview
Tonight President Obama will attempt to take back control of the health care debate in a prime-time speech to Congress. How specific will Obama be about what he wants out of his health care overhaul? Where do we stand now with the various proposals being debated?
Guests:
Ted Marmor, Professor Emeritus of Public Management and Political Science at Yale University
Thomas Miller, Resident Fellow, American Enterprise Institute, former health policy economist for Congress’s Joint Economic Committee
A paradise built in hell
The media and Hollywood typically suggest that disasters inspire mob panic and complete chaos. But in “A Paradise Built in Hell,” author Rebecca Solnit argues that people actually react to catastrophes with altruism and self-organization. Solnit joins Larry to talk about her new book and how humans really behave in the face of disaster.
Guest:
Rebecca Solnit, author of "A Paradise Built in Hell: The Extraordinary Communities That Arise in Disaster"