Trumponomics

Latest Episodes:

What the Sanders or Warren Wealth Tax Means for Inequality in the U.S. Nov 07, 2019

Show notes

The 2020 U.S. presidential election may be a year away but one policy idea is already stirring fierce debate: a big-time tax on the richest Americans. Katia Dmitrieva reports on why Bernie Sanders and Elizabeth Warren want to implement a wealth tax, and how it might work. Many economists have also been warming to the idea of taxing wealth. But you can't help noticing that most of the European countries that have tried wealth taxes have later junked them. Host Stephanie Flanders talks with Bloomberg economists Johanna Jeansson and Maeva Cousin about the death of wealth taxes in Sweden and France and the possible lessons for the US.

Then Stephanie talks with Frankfurt-based economy editor Jana Randow about two major milestones in the region: Christine Lagarde taking over as president of the European Central Bank and the 30th anniversary of the fall of the Berlin Wall. Randow -- the co-author of a recent book about outgoing ECB head Mario Draghi -- explains how Lagarde is likely to differ from her predecessor. She then shares her personal memories of November 1989 from the standpoint of a child growing up in East Germany.

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How the Trade War Is Reshaping Supply Chains From Los Angeles to Vietnam Oct 31, 2019

Show notes

Economies represent the ultimate sum of millions of people and businesses making millions of decisions. And if enough of those businesses are frozen on how to respond to the U.S.-China trade war -- like the owner of a Los Angeles cosmetics company featured in this week's episode -- then the U.S. economy will be in trouble. Sarah McGregor, editor of Bloomberg's real-economy team, reports on how the businesswoman, Dara Venekeo, is being forced to consider whether to relocate her hard-built supply chains from China to another country, such as Vietnam.

The conversation on supply chains continues as host Stephanie Flanders visits Singapore this week and checks in with Asia economy reporter Michelle Jamrisko there on how the situation is playing out in Southeast Asia and particularly Vietnam. Stephanie also talks with Asia economy editor Malcolm Scott on how the China-dependent economies of South Korea, Australia and New Zealand might need to resort to unorthodox monetary measures to shore up growth.

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Washington Talks, the World Listens Oct 24, 2019

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What is the future for international institutions like the International Monetary Fund - and what, if anything, can it do to help Argentina? These are just some of the topics in a special episode from the annual meetings of the Fund and World Bank in Washington. Stephanie speaks about the future of the world on an all-star panel with former India central bank chief Raghuram Rajan and ex-Bundesbank head Axel Weber, along with Columbia University professor Glenn Hubbard, a White House economic adviser under George W. Bush. She also gets a chance to ask Federal Reserve Bank of Dallas President Robert Kaplan - who helps set US interest rates - whether central banks can even control inflation anymore.

But first, Latin America economic editor Bruce Douglas reports from Buenos Aires on just how deep Argentina's problems go -- and whether they can be fixed. It's all part of Stephanomics's lead-up to Bloomberg's New Economy Forum in Beijing in November, where global governance will be high on the agenda.

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Coming Soon: Travel Genius Season 2 Oct 23, 2019

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Bloomberg's Travel Genius podcast is back! After clocking another hundred-thousand miles in the sky, hosts Nikki Ekstein and Mark Ellwood have a whole new series of flight hacking, restaurant sleuthing, and hotel booking tips to inspire your own getaways—along with a who's who roster of itinerant pros ready to spill their own travel secrets. From a special episode on Disney to a master class on packing, we'll go high, low, east, west, and everywhere in between. The new season starts Nov. 6.

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A Newly Minted Nobel Laureate on Making Economics More of a Science Oct 17, 2019

Show notes

The macroeconomic kind of economist tends to get the most attention - talking about growth, inflation and whether interest rates should go up or down. But it’s the micro economists working away quietly on smaller parts of the economy who have typically done most to change the world. This week Stephanie Flanders talks to one of them - Harvard University’s Michael Kremer about winning the 2019 Nobel Prize for Economics with two other researchers - and how their work has transformed the way we tackle global poverty. There’s something for macro fans as well with a high level discussion on the future of monetary policy.

Should central banks be trying to save the planet - and are there tools to fight the next recession which do not disproportionately benefit the rich? These are Just two of the questions up for debate in a panel Stephanie chaired this week featuring Claudio Borio of the Bank for International Settlements, former Bank of England policy makers Sir Charlie Bean and Dame Kate Barker, and Graham Turner, founder of GFC and adviser to the U.K. Labour Party.

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The Baby Bust and the Global Economy Oct 10, 2019

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Growth has been slowing around the developed world — not just in recent months but for decades. One potential reason is that women are having fewer babies. On this week's Stephanomics, reporter Jeannette Neumann visits a region in Spain with the lowest fertility rate in Europe to find out why this is happening and what it means for the global economy. Host Stephanie Flanders also talks with Darrell Bricker, co-author of the book “Empty Planet,” about his theory that the global population will begin to decline.

One way to prop up the birthrate could be to offer employees a better work-life balance. Recent U.S. data showed that people who work at home aren't just growing in number but also, on average, earn more than those who commute. Bloomberg Opinion columnist Justin Fox joins Stephanie to consider the implications of this striking fact.

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The Trade War Has Already Caused a Recession for America's Factories Oct 03, 2019

Show notes

Stephanie Flanders returns with a new season of Stephanomics, bringing on-the-ground insights from Bloomberg's reporters and economists into the forces driving the global economy. On this week's episode, senior trade reporter Shawn Donnan heads to the front lines of the US-China trade war in Wisconsin, and Stephanie talks through its global impact with Penny Goldberg, chief economist at the World Bank.

One silver lining to all this, says Goldberg, is that more attention is finally being paid to trade policy. She also discusses whether this period will mark the high point for globalization - and confirms the suspicions of manufacturers that Shawn spoke to out in the field, who believe that they are paying the tariffs - not China, as claimed so often by Donald Trump.

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Introducing Stephanomics Season 2 Sep 26, 2019

Show notes

Stephanie Flanders, head of Bloomberg Economics, returns to bring you another season of on-the-ground insight into the forces driving global growth and jobs today. From the cosmetics maker in California grappling with Donald Trump's tariff war, to the coffee vendor in Argentina burdened by the nation's never-ending crises, Bloomberg's 130-plus economic reporters and economists around the world head into the field to tell these stories. Stephanomics will also look hard at the solutions, in the lead-up to Bloomberg’s second New Economy Forum in Beijing, where a select group of business leaders, politicians and thinkers will gather to chart a better course on trade, global governance, climate and more. Stephanomics will help lead the way for those debates not just with Bloomberg journalists but also discussion and analysis from world-renowned experts into the forces that are moving markets and reshaping the world. The new season of Stephanomics launches Oct. 3.

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Introducing Prognosis Season 3: Superbugs Aug 28, 2019

Show notes

On this new season of Prognosis, we look at the spread of infections that are resistant to antimicrobial medicines. You're probably more likely to have heard of these as superbugs. Their rise has been described as a silent tsunami of catastrophic proportions. We travel to countries on the frontline of the crisis, and explore how hospitals and doctors around the world are fighting back. Prognosis’ new season launches Sept. 5.

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Bretton Woods at 75 and the Other Mexico Border Crisis Jul 25, 2019

Show notes

Under pressure from President Donald Trump, Mexico is cracking down on migrants coming from its own southern neighbor, Guatemala. But the hit to the local economy could have unanticipated consequences for the U.S. Bloomberg's Eric Martin reports from the border, while Stephanie takes stock of these and other challenges for international economic cooperation at a conference in Bretton Woods, New Hampshire. This month also marks 75 years since the Allied powers gathered at the Mount Washington hotel to lay the groundwork for the post-World War II economic order. At a conference commemorating the anniversary she talks with Meg Lundsager, the U.S.'s representative at the IMF from 2007 to 2014 and Nouriel Roubini - the economist famed for predicting the financial crisis who's recently become a big critic of the speculation in cryptocurrencies.

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