What is "Planet Money?"
"Planet Money" is an NPR multimedia team covering the global economy. It's also the name of our blog, Twitter feed and podcast.
We think a lot of people feel overwhelmed by the global economy. They know it's affecting their lives. But they don't know how to dive in, and they don't find most stories in most media outlets helpful.
We think this because we feel the same way. But we're lucky. We work at NPR and can call the leading economic thinkers and ask them to explain things to us. Slowly.
So we're building what we hope will be a fun, safe, exciting, accessible place for people to explore the global economy and what it's doing to them. We have two rules for ourselves: 1. Everything has to be interesting (and, preferably, fun or funny or poignant or somehow grabby). 2. Everything should be economically smart, but not economically dull.
What can I expect to find here?
Explanations. News. Debate. Slideshows. Audio. Video. Answers to really hard questions, like "Why do malls close?" or "What is money?"
So what is money?
Check back with us on that one, please.
Who posts on the "Planet Money" blog?
Regular contributors include Adam Davidson, David Kestenbaum, Alex Blumberg and Laura Conaway. We're always looking for guest writers with smart takes on the economy.
Who can comment?
Anyone, but play fair, please.
Do you have rules about what can or cannot be said in the comments?
You bet. Please see our guidelines for commenting.
Will blog comments be read in podcasts or radio stories?
That's entirely possible. We want this to be a two-way street.
What if I want to e-mail you privately?
We're all ears, at globaleconomy[at]npr[dot]org.
Can I suggest topics or stories?
We'd love that. Drop us a line.
Can I link to your blog?
That would be great.
Will you link to my blog?
Maybe, if you're writing about the economy. It's worth asking us.
Can you tell me what to do with my 401(k)?
No. That's above our pay grade. For personal finance, we like the Bogleheads.
Laura Conaway
2:29 PM ET
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08-28-2008
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Job applicants gather at the Howard Industries plant in Laurel, Miss., two days after an immigration raid.
Rogelio V. Solis/AP Photo/
Job seekers have been lining up at the Howard Industries electronics plant in Laurel, Miss., where federal agents on Monday arrested 595 suspected illegal immigrants. The workers came from several Central and South American nations -- the list includes Brazil, El Salvador, Mexico and Peru -- as well as Germany.
The local paper, the Laurel Leader-Call, has pulled several threads from the developing story.
Employees inside the plant say Immigration and Customs Enforcement was tipped off after friction between the union and immigrant workers. Union workers told the paper that immigrants sometimes got as much as 40 hours a week in overtime. Immigrants, meanwhile, reported the union pressured them into joining by saying that a raid was coming and that union members wouldn't be taken.
Howard posted a sign last week, before the raid, saying it would be hiring. As news of the raid spread, local people began applying. With unemployment in the county at 6.5 percent -- lower than the statewide rate of 8.5 percent -- one economist told the Leader-Call the region has something of a labor shortage.
"That leaves businesses with a serious problem," said William Gunther, a professor at the nearby University of Southern Mississippi. "That doesn't justify, but it certainly explains why they might be hiring individuals who show up and say, 'I'll work for you.' "
Laura Conaway
2:08 PM ET
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08-28-2008
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A column of Russian tanks leaves South Ossetian capital Tskhinvali on Aug. 21.
Kazbek Basaev/AFP/Getty Images
If you're watching the Russian tanks moving around in Georgia and the NATO ships sailing into the Black Sea, you're maybe thinking, hey, this has got to be bad news for the world economy.
And maybe it will turn out to be.
But if you're Marc Chandler, the global head of currency strategy at Brown Brothers Harriman, the picture's not looking so bad. "I'd say there's two impacts," he tells us. "Slim and none."
Over the past week, the Russian ruble has fallen .75% against the dollar -- no big deal, Chandler says. For a better measure, he says you should consider other currencies in the region, like the Hungarian forint and the Czech koruna. Over the same period, the forint's down 2% against the dollar, the koruna 1.3%.
That's largely because the ruble isn't well-integrated in the global economy. Compared to the dollar and the euro, Chandler says, Russia tends to stand alone. For now, he calls the conflict between Russia and Georgia a political story, not an economic one.
Laura Conaway
11:01 AM ET
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08-28-2008
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