March 13, 2009
Posted: 1458 GMT
Happy Friday the 13th everyone,
Another busy day at the International Desk today. We'll again mainly be focusing on the economy.
Although the Dow Jones average rose three days in a row and is flirting with flat today, don't be fooled: the world economy is still mired in a deep physical – and existential – crisis.
It's not just what's going wrong (the jobless rate, the frozen credit market, the depressed consumers, the mismanaged banks etc.,) it's how to fix it and what new system should replace of the old model.
We'll be going live to London for the meeting of financial leaders ahead of the G20 summit next month. President Obama's economic team head said today that concerted action is starting to unclog credit markets.
But after months of trying, and using all the tricks in an economist's toolbag, consumers still aren't spending. The challenge is to figure out how to reboot the economy without going back to living on borrowed time – and borrowed money.
That brings us to today's I-Dek poll. People are angry and pessimistic. They're losing their retirement money in huge chunks. They're worried their kids will be worse off than they are. When people hurt, they want someone to blame. So we're asking you: who is responsible for the economic mess?
Are bankers, who mis-invested billions in shady mortgage backed securities the main culprits? What about political leaders, who allowed the old system to thrive?
And now frustrated investors are taking aim at financial analysts. Satirist Jon Stweart this week savaged CNBC host Jim Cramer, highlighting some bad advice he gave viewers before the banking collapse. But the comedian Stewart has done more than take aim at one business channel host, he's captured the outrage of ordinary Americans who feel misled and lied to by those who should have warned them of the cataclysm.
Also at the I-Desk, we'll be talking to Richard Quest about a couple of high profile interviews he conducted today in London.
We're hoping to go live to Bangladesh for coverage of a dramatic fire that destroyed parts of the country's largest shopping mall.
And the rest of the day's top news stories, including Michael Jackson London tickets selling like hot cakes.
See you on air,
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