April 15, 2009
Posted: 1503 GMT

Hello everyone,

Back after a few days off, I'm confronted once again with a flurry of economic indicators. Understanding the current economic slump means analyzing numbers. So let's crunch away!

First, consumer prices are down (o.1% in March versus an expected rise of 0.1%.) This mean inflation is not a problem. This mean central banks can continue to inject cash into the economy and not worry that prices will spiral out of control.

But though inflation is down, "core inflation" is not. Core inflation is inflation minus energy and food prices. This means that by at least one important measure, prices aren't falling but still moderately rising. This may temper how aggressively the economy can be stimulated.

Then there is industrial production. It was down again in March for the 14th time in 15 months. This is one of the most troubling signs: companies are not producing as much as they could because they want to reduce inventories. They are not confident about the future.

Consumers aren't spending. Factories are not producing. Banks have still a long way to go before they start lending money at a level that will kickstart growth.

The numbers on the page tell one story. The reality on the ground is that people are scared. Fear of a protracted recession means even the CEO of America's retailing behemoth doesn't see an end to his troubles anytime soon.

"It's not a V recession, " Wal-Mart CEO Mike Duke told a U.S. network, "where we're just going to bounce out and come back."

We'll analyze all the numbers and also discuss banking giant UBS's 7,500 job cuts. Two years into this and banks are still shedding thousands of jobs. We'll look at what this means for ordinary consumers.

Also today, more pirate news. The French navy has apparently detained 11 pirates and a U.S. aid ship escape heave pirate fire off the African coast. We are live in Kenya.

We are also live in Kabul where brave women are today protesting against a Shiite marriage law. They are risking their lives to say no to legislation that essentially legalizes spousal rape and that critics say Afghan president Hamid Karzai initially approved for political reasons. It takes courage to protest against the establishment. In Afghanistan, for women, it takes heroism.

That and the rest of the day's news live at the International Desk.

See you on TV,


Posted by: ,
Filed under: Today At The I-Desk

Share this on:
Farhan Bari   April 15th, 2009 4:24 pm ET

I work in a bank in Dubai which hardly had any bad news during these trouble times. Is economy recovering... well, that's a trillion dollar question cause we lost trillions and still losing... but when I think it will recover is when my neighbour starts buying and vacationing and when it will be my turn, that's when economy is booming...

We all should spend in moderation to keep the economy wheel spinning.. like like food chain.. if one goes extict, the rest will follow..

Darko   April 20th, 2009 9:13 pm ET

Hello,I live in macedonia…Greetings to you all…Love you Hala…
Me and my friends are spending a lot of time watching cnn,and i would like to comment on today’s speech by the Iranian president…
I’am very worried … I think that this speech was a speech of hatred, speech of insolence, ignorance and intolerance. It was a speech of religious, national and international hatred, a speech of agression and confrontation… I can only say, that I think this was a big mistake by the iranians, and I belleive that the United states should rethink their approach to this islamist regime…Thank you and love you...

Leave Your Comment


Comments are moderated by CNN, in accordance with the CNN Comment Policy, and may not appear on this blog until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

subscribe RSS Icon
About this blog

International Desk brings viewers into the heart of the largest news gathering operation in the world. Viewers don't come here to watch the news; they come here to be immersed in it. To feel the rush of being the first to know what's happening as stories break, and to leave knowing they've gotten the best and latest information available. The show airs Mon-Fri at 1900 CET.

Powered by VIP