PANDEMIC - Latest Consequences and Response

"‘No question’ slow federal pandemic response cost lives, Gov. Hogan says" PBS NewsHour 7/20/2020

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SUMMARY:  American governors are on the front lines of the fight against COVID-19 -- and the economic collapse it prompted.  Maryland Gov. Larry Hogan, a Republican, is chairman of the National Governors Association, and he has spoken out recently about failures in the federal pandemic response.  Hogan joins Judy Woodruff to discuss the crisis, his forthcoming book, “Still Standing” and his political career.

"Can Italian tourism industry survive the pandemic?" PBS NewsHour 7/20/2020

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SUMMARY:  Italy is emerging from its COVID-19 nightmare into what is usually its busiest season for tourism.  The industry normally brings in 13 percent of the country’s $2 trillion GDP.  But there is no normal this year, and most tourists are not coming -- sparking fears that the pandemic will cause lasting economic damage.  Special correspondent Malcolm Brabant reports from Rimini, on Italy’s Adriatic Coast.

"Why the U.S. still doesn’t have control of COVID-19, 6 months after pandemic began" PBS NewsHour 7/20/2020

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SUMMARY:  It was just about six months ago that the first case of COVID-19 was confirmed in the U.S. Since then, the pandemic has exacted an enormous toll in terms of both human lives and economic harm -- with no end in sight.  Amna Nawaz marks the moment with two people focused on solving the pandemic: Dr. Rajiv Shah of the Rockefeller Foundation and John Barry of Tulane University School of Public Health.

"How the pandemic is making a global food crisis worse" PBS NewsHour 7/21/2020

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SUMMARY:  As the coronavirus pandemic tears across the globe, the toll exacted in lives lost and ruined grows by the day.  But for those already in need, especially the hungry and the starving, COVID-19 is accelerating their nightmares.  David Beasley, executive director of the World Food Program, joins Amna Nawaz to discuss the pandemic supply chain and how to keep 270 million people fed in a year of crisis.

"Colleges and universities grapple with decision to return to campus" PBS NewsHour 7/21/2020

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SUMMARY:  U.S. colleges and universities are scrambling to finalize their fall plans as coronavirus infections continue to rise in much of the country.  While some students, faculty and staff are looking forward to returning to campus, others are raising serious health and safety concerns.  Hari Sreenivasan reports on how schools are approaching the decision, as part of our Rethinking College series.

"U.S. must collect this data in order to contain pandemic, former CDC director says" PBS NewsHour 7/22/2020

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SUMMARY:  More than 1,000 U.S. deaths from COVID-19 were reported Tuesday.  As many states struggle with outbreaks, Dr. Tom Frieden, former head of the Centers for Disease Control and Prevention, says the country desperately needs improved data collection to understand how the virus is spreading -- and to contain it.  He joins Judy Woodruff to discuss critical metrics and how to obtain and learn from them.

"What we know about the search for a COVID-19 vaccine — and what we don’t" PBS NewsHour 7/22/2020

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SUMMARY:  The question of when a COVID-19 vaccine might be available is perhaps the most pressing in the world.  There have been a number of recent headlines on this front, including early but encouraging results from trials.  And on Wednesday, the Trump administration awarded a contract to Pfizer and a German biotech firm to potentially deliver doses this year.  Miles O’Brien joins Judy Woodruff to discuss.

"Can MLB play ball and still avoid an outbreak?" PBS NewsHour 7/23/2020

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SUMMARY:  Months after the start of spring training, the first pitch of the 2020 Major League Baseball season will be thrown Thursday night.  Opening Day gets underway with the Washington Nationals hosting the New York Yankees.  But the season will be very unusual, with no fans present at stadiums, and many questions about it remain unanswered.  Amna Nawaz reports and talks to ESPN’s Jeff Passan.

"In Alabama, racial disparities in health outcomes predate the pandemic" PBS NewsHour 7/24/2020

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SUMMARY:  In Alabama, doctors and nurses are seeing record numbers of hospitalizations associated with COVID-19.  The state has reported more than 1,300 deaths since the pandemic began.  But certain regions and populations within the state are faring far worse than others -- and huge health disparities among Black residents are causing even more dire results.  Stephanie Sy reports on a tragic legacy.

"Honoring 5 more victims of the coronavirus pandemic" PBS NewsHour 7/20/2020

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SUMMARY:  As we have every Friday for the past several months, we take a moment to remember some of the lives lost to the novel coronavirus pandemic, including a high school English teacher and a 39-year-old mother of six.

"How structural racism is magnifying the public health crisis" PBS NewsHour 7/25/2020

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SUMMARY:  As coronavirus cases disproportionately impact communities of color, several local and state officials have declared racism a public health crisis.  Rhea Boyd, a public health advocate, joins Hari Sreenivasan to discuss the structural racism in America’s healthcare system and how this ongoing pandemic of racial and economic inequality is compounding the COVID-19 pandemic.

OPINION - Shields and Brooks 3/13/2020

"Shields and Brooks on leadership in a time of crisis" PBS NewsHour 3/13/2020

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SUMMARY:  Syndicated columnist Mark Shields and New York Times columnist David Brooks join Judy Woodruff to discuss the week’s political news, including the unique magnitude of the novel coronavirus pandemic, how President Trump is handling the crisis, what the government should do to reassure fearful Americans, and how the outbreak might affect the 2020 Democratic Presidential primary race.

Judy Woodruff (NewsHour):  And now, with their own take on the pandemic that has seemingly taken over our lives, it's time for the analysis of Shields and Brooks.

That is syndicated columnist Mark Shields and New York Times columnist David Brooks.

Hello to both of you.

It's been a week like no other that I can remember.

Mark, where are we?  What — how do you make sense of what's going on right now?

Mark Shields, syndicated columnist:  Well, the only way I could make sense of it is by what we have been through before.

I mean, I would compare it, Judy, to the time after World War II began or the polio epidemic in the '50s.  And there was — it was a time of collective national sacrifice.  Everybody was in it together.  We were all at risk.

And it was — and especially after the beginning to have the war, it was a time of collective sacrifice, where there were shortages of alcohol, tobacco, meat, butter, you name it.  But Americans, through 20 million victory gardens, raised a third of the country's vegetables.  They saved tin.  They sacrificed collectively.

The president of the New York Stock Exchange went in the Army for $21 a month as a private, William McChesney Martin, later chairman of the Federal Reserve.

And at the time of polio, there was terror in the country.  We closed bowling alleys, and swimming pools, and beaches in the summer; 497,000 Americans were paralyzed, and then that magical moment in 1955 when there was a cure.

Judy Woodruff:  Right.

Mark Shields:  But that's all I can — that's where we are.

That's where — it's the unknown.

(CROSSTALK)

Judy Woodruff:  … terror.

Mark Shields:  It's the unknown, and there's a sense of terror.

Judy Woodruff:  Can we make sense of it, David?  How do we get our arms around it?

David Brooks, New York Times:  Well, there are two issues.  Maybe I should deal with them separately.

One is the political leadership issue, and one is the moral and social issue.

And just on political, I found it an enraging week.  We sat here many years ago, when we saw images of Katrina and bodies floating in New Orleans.  And I think both Mark and I felt a deep sense of anger.

And I feel a deep sense of anger that our government has responded so badly.

And, frankly, it's — this is what happens when you elect a sociopath as President, who doesn't care, who has treated this whole thing for the past month as if it's about him, how do people like me, minimizing the risks, does the stock market reflect well on me, and he hasn't done the things a normal human being would do, which was to, let's take precautions.

Let's do the backup things we need to do.  Any President would sit down with his team and say, people will suffer here.  Let's get ready.

And he's [Trump] incapable of that.  And he's even created an information distortion field around him.  Even today, the press conference today was all his propaganda.  It wasn't honest with people.

And then with Yamiche's perfectly good question about an agency, maybe he didn't know when that part of the National Security Council was shut down, but he should know about it by now.

And so the fact that he wasn't even aware of this is a sign that nobody is willing to tell him bad news.  And we have got a dysfunctional process at the heart of the administration at a time of great national crisis.

Judy Woodruff:  With all that going on, Mark, how does that affect Americans' ability to get through this?

Mark Shields:  Well, it affects it in many respects.  And I don't disagree with what David said.

It's global, Judy.  And 'America first fails'.  If there's ever a time for international cooperation, collegiality at a personal and national level, professional level, this is it.

I mean, I think if Americans were informed and put to the test, whom do you want — who do you want in charge of this, this epidemic, Dr. Tony Fauci or Donald Trump, they would — anybody who have watched would say Dr. Tony Fauci.

I mean, he's knowledgeable, he's straight, he's direct, he's candid, he's thoughtful.  He's everything that we want.

The President is impulsive and uninformed.  He has misled the people that it was contained.  Any President of the United States saying he's going to leave Americans on a boat docked off of California, rather than bring them ashore for treatment because they might — because it would increase the number of people, would hurt his numbers, would hurt my numbers, that's somebody not lacking in empathy.

That's somebody with an empathy void.  And it just — to me, it's — I think it's a seminal moment in the Trump presidency, when we realize, in spite of my 401(k) having been terrific, now all of a sudden it's at jeopardy, and he [Trump] really puts the nation at jeopardy and the health of my family and my friends at jeopardy.

Judy Woodruff:  Is there someone Americans can look to for guidance, for an example and for leadership at a time like this?

David Brooks:  Yes, well, Tony Fauci, Francis Collins the head of NIH.

A lot of the state and local — the governors have been pretty fantastic.

Mark Shields:  Yes.

Tony — Andrew Cuomo.

David Brooks:  Yes, Andrew Cuomo.

And so I do think there are some leaders out there.  And look to each other.  I mean, as everyone has said, it's quite remarkable how the country has responded, responded with all the social distancing and all the very drastic measures that have been taken.

Judy Woodruff:  Right.

David Brooks:  It should be said, we shouldn't expect that wonderfulness to continue.

I have spent the last week reading about pandemics in the past.  And they're not good for social trust.  People go into them thinking, I'm going to be a good soldier and citizen for people around me.

But when the fear gets going, they stop seeing each other.  They stop caring about each other.  They stop volunteering.

I have always wondered why the 1918 Spanish Flu that happened here killed 675,000 Americans.

Judy Woodruff:  Hard to imagine.  Impossible to imagine.

David Brooks:  And it left no trace on the national culture.  And I have always wondered, why was that?

And reading about what it was like, people were ashamed of how they behaved, because they looked after themselves.  And that's understandable.  Fear is just this terrible thing.  And we haven't really been hit by the raw, gut-wrenching fear of seeing hospitals overwhelmed and stuff like — but we will.

And we sort of need to take moral steps and social steps, as well as we take health steps, to sort of mitigate that.

Judy Woodruff:  And we know, Mark, it is going to get worse.

I mean, we see Tony Fauci talking about it's either going to go up like this and — before it comes down, or we can mitigate it somehow, by the social distancing, and the rest of it.

But we are in a moment when we are looking for guidance, and we're also in the middle of a Presidential campaign.  We have got Joe Biden and Bernie Sanders still campaigning, although it's been moved — shoved to the sidelines this week.

Mark Shields:  Right.

Judy Woodruff:  The two of them the last few days have made statements.  They have talked about what needs to be done.

Do we see something going on there that gives the American people hope?

Mark Shields:  Well, I hope so.

I mean, I thought both statements yesterday, I thought particularly Biden's, were quite thoughtful, to use an adjective not loosely, presidential, they were reflective, and given it a serious and — there is — as Vice President Biden said, there's no zip code on this.  This isn't a foreign threat.  I mean, this isn't something organized by the Chinese communist politburo.

I mean, this is no respecter of state of status or station or anything of the sort.  And I thought that — I thought that came through.

As far as the election, I feel bad for Senator Sanders, because you're behind.  And how do you catch up?  You catch up by showing enthusiasm, by showing and drawing crowds, by showing energy.

All right, all of a sudden, you can't do that anymore.  I mean, you're not going to have crowds.  You're not going to be out there.

Judy Woodruff:  Not going to have rallies.

Mark Shields:  You're not going to have rallies.

So it's almost frozen in time.  I think the debate Sunday night takes on greater importance.  And I would commend it, because there is no audience.  And I would hope that would be the pattern for future debates.

Judy Woodruff:  No live audience.

(CROSSTALK)

Mark Shields:  No live audience, because live audience brings out the worst in candidates.  They pander.  They look for applause lines.  They taunt.

And I just think — I think this will be a serious debate between two people.

But Joe Biden carried every county in Michigan.  I mean, that was just sobering.  I mean, the turnout was up 31 percent.  And it almost all went to Biden.  I mean, Bernie Sanders was stuck where he was in 2016.

So I don't know where the hope is for him.  Biden is now heading to state of Washington as of 4:00 this afternoon.

David Brooks:  And Florida's coming.  Yes, I don't see much hope for Bernie Sanders.

I would also say the dynamic changes, because you — Sanders is running on a revolution.  Trump ran on a revolution.  Oh, we should get rid of the establishment and drain the swamp, as the Republicans say.

Well, in a time of pandemic, you really need the establishment.  The establishment is pretty good.  You don't want to burn the system at a moment when people are dying and when diseases are spreading.

And so the idea that the swamp is something you need is something that's hit everybody suddenly very hard.  And all the Trumpians saying, where are the tests, where the tests, why doesn't the government do this for me, well, if ever there had been a reminder of why we need the institutions of our government, that's what we're in the middle of.

Judy Woodruff:  And Sanders is saying that if there ever was a reminder that all Americans have a right to health care, this is it.

Mark Shields:  That's right.  Yes.

UNITED KINGDOM - Brink of Brexit

"What Boris Johnson’s Parliament move means for the chances of a no-deal Brexit" PBS NewsHour 8/28/2019

aka "Boris Makes a Moscow Mitch Move"

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SUMMARY:  In the United Kingdom, the countdown to Brexit is on, and Parliament is out.  Prime Minister Boris Johnson moved Wednesday to suspend Parliament, sparking criticism that he is seeking to prevent lawmakers from debating a deal to leave the European Union, which is scheduled to happen by October 31.  Lisa Desjardins talks to Robin Niblett of Chatham House for analysis of the tense situation.

"For Brexit protesters, a larger issue is at stake: democracy" PBS NewsHour 8/31/2019

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SUMMARY:  Thousands of people took to the streets across major British cities, including London, to protest the suspension of the Parliament by Prime Minister Boris Johnson ahead of the October 31 Brexit deadline.  Frank Langfitt, NPR correspondent and author of “The Shanghai Free Taxi: Journeys with the Hustlers and Rebels of the New China," joins Hari Sreenivasan to discuss the situation in the U.K.

THE WORKER - The Disappearing Jobs of Yesterday

"In a world transformed by technology, these workers hold on to near-obsolete jobs" PBS NewsHour 5/5/2018

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SUMMARY:  From a book binder in Bulgaria to a key maker in Beijing to gas lamp lighters in London, people whose jobs have become increasingly rare in the digital age are the focus of “The Disappearing Jobs of Yesterday,” a series by more than 50 photographers at Agence France-Presse.  The photographers also turn the lens on their own profession in the era of the smartphone.  Hari Sreenivasan reports.

WORLD'S BIGGEST GAMBLING CASINOS - Stock Markets

"Monday’s market volatility reflects the new economic reality.  Here’s how" PBS NewsHour 2/5/2018

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SUMMARY:  The sell-off that hit Wall Street on Friday whipsawed the market again on Monday.  In one furious, 15-minute stretch, the Dow dropped and recouped 700 points.  What made markets plunge?  John Yang gets analysis from Gillian Tett of the Financial Times and Diane Swonk of DS Economics.

"Before this week’s roller-coaster trading, the stock market was ‘unusually calm’" PBS NewsHour 2/6/2018

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SUMMARY:  Global markets have been on a roller coaster ride for the past three days.  The Dow Jones Industrial Average plunged more than 500 points Tuesday morning, but ended up more than 500 points.  John Yang learns more from Neil Irwin of The New York Times.

"What we can learn from past stock market crashes" PBS NewsHour 2/8/2018

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SUMMARY:  The stock market took another nerve-wracking ride on Thursday, with the Dow Jones Industrials dropping more than 1,000 points.  One explanation of this week's jitters is the idea that market prices are out of whack.  So how low could we go?  Economics correspondent Paul Solman puts today's market in historical perspective -- and it isn't especially reassuring.

TRUMP AGENDA - Consequences of 'America First'

"What limiting foreign trade would mean for the U.S. economy" PBS NewsHour 11/16/2017

My answer, Make America Economic Looser.

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SUMMARY:  President Donald Trump ran on a campaign promise that he would “put America first” by pulling out of multilateral trade agreements.  But for many top industries, outsourcing in the global market is essential for business, not to mention vital to Americans’ standard of living.  Is it feasible in the 21st century for America to go it alone?  Economics correspondent Paul Solman reports.

ECONOMY - The Very, Very Bid Deal

"In size and stakes, the Trans-Pacific Partnership is a big deal" PBS NewsHour 10/5/2015

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SUMMARY:  The U.S. and 11 other Pacific Rim nations have struck the largest trade deal in a generation.  The wide-ranging Trans-Pacific Partnership sets new rules for labor and environmental standards and reduces and phases out thousands of tariffs on American producers, among other provisions.  But there's substantial opposition to the accord.  Jeffrey Brown learns more from Greg Ip of The Wall Street Journal.

JEFFREY BROWN (NewsHour):  It’s a wide-ranging accord that seeks to lower trade barriers and expand agricultural markets.

Among other things, it sets new rules for labor and environmental standards, reduces and phases out thousands of tariffs on American producers, provides between five and eight years of intellectual property rights for biologic drugs made here, and makes it easier for the U.S. to sell dairy products in countries like Canada and Japan.

But many provisions are the subject of deep skepticism and outright opposition from voices across the spectrum.  And getting it approved by Congress during an election year is no small matter.

Greg Ip is chief economics commentator for The Wall Street Journal and the author of the forthcoming book “Foolproof,” and joins us now.

Welcome back, Greg.

GREG IP, The Wall Street Journal:  Thanks, Jeff.

JEFFREY BROWN:  First, an overview, huge dollar amounts, right, wide range of areas covered, and enormous economic stakes.  It’s a big deal.

GREG IP:  It’s a very big deal.  It’s the biggest trade deal that has been negotiated since the Uruguay agreement of the World Trade organization, which was some 20 years ago.

It’s also the first trade agreement to be negotiated by the United States under the Obama presidency.  The scope is very large, roughly 40 percent of world GDP.  It covers areas that have heretofore not been covered in agreements of this size, like services, like intellectual property.

It’s important in geostrategic terms because it’s as important for the countries that are in it as the countries that are not, more importantly China.

JEFFREY BROWN:  All right, we will get to that afterwards.

But in strictly economic terms first, the Obama administration and supporters point to what they see as benefits.  Give us a couple of examples that they’re pointing to that’s in this deal.

GREG IP:  Well, there are specific areas where the United States is very competitive that it has had trouble getting to other countries’ markets, agriculture, for example.

Under the agreement, countries like Japan and Canada, which have highly protected dairy sectors, will have to open up more to the United States.  Then there are newer industries where the U.S. is very advanced like drugs, intellectual property, high-end services like accounting and engineering.  When those services are exported to other countries, signatories to this agreement can no longer discriminate against American companies.

And there will be mechanisms that American companies that feel they have been discriminated against can challenge countries in their own courts.

COMMENT:  The skeptism is due to the history of previous trade agreements.  Especially those that cost American jobs when companies moved their production overseas, and a tax code that gave breaks to companies who did that.  Note that the job problem is our (U.S.) fault for not having big tax penalties for companies doing that.  Of course, since Congress is owned by Big-Money, and worshiped by Republicans......

WORLD ECONOMICS - The China Effect

"China rattles markets by devaluing its currency" PBS NewsHour 8/11/2015

JUDY WOODRUFF (NewsHour):  Now to China’s decision to devalue its currency, the yuan.  This effort to revive economic growth in the country shook up global markets today and sparked fears among U.S. exporters.

The decision to devalue had an instant effect: the yuan currency fell nearly 2 percent against the U.S. dollar, the most in a decade.

Beijing’s goal, to make China’s exports cheaper and boost an economy that’s been slowing markedly.

WOMAN (through interpreter):  The export sector is facing great pressure.  Inventories are high.  Manufacturing, including investment, is facing overcapacity.  So, in order to stop sliding export figures, we need to adjust the currency rate.

JUDY WOODRUFF:  Indeed, China’s exports were down sharply in July, by more than 8 percent.  Even so, reaction to the currency move was mixed on the streets of Beijing.

MAN (through interpreter):  It should be a good thing for the people’s lives.  Exports will be easier to export, and it will be easier to sell things.

MAN (through interpreter):  In the short term, it doesn’t look like it will have any particularly obvious impact.

JUDY WOODRUFF:  Meanwhile, the European Commission welcomed the prospect of a weaker Chinese currency.

ANNIKA BREIDHARDT, European Commission Spokeswoman:  To the extent that the changes announced overnight reflect a shift in operating regime, allowing the daily fix to better reflect the balance of demand and supply in the foreign exchange market, we consider that this is a positive development.

JUDY WOODRUFF:  U.S. exporters have long complained that China’s currency valuation is already too low, giving its goods an unfair advantage.

But, in Washington, the State Department was reluctant to criticize today’s move.

MARK TONER, State Department Spokesman:  We have pressed China to continue financial reforms.  And while we want to see additional economic reforms we believe that are needed, but we have seen progress.  And that has included the recent commitments by China that were secured at the most recent security and economic dialogue.

JUDY WOODRUFF:  China is the latest large economy to devalue its currency.  In the past two years, Japan and the European Union took similar steps.

"What does the yuan’s decline mean for the U.S.?" PBS NewsHour 8/11/2015

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SUMMARY:  What does a weaker yuan mean for China and the global economy?  Greg Ip of The Wall Street Journal and Orville Schell of the Asia Society join Judy Woodruff to discuss the economic and geopolitical factors.

"Sudden Chinese currency devaluation has global consequences" PBS NewsHour 8/12/2015

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SUMMARY:  Following market forces, China again devalued the yuan, rocking world stock and currency markets for a second straight day.  According to some analysts, the change could hurt U.S. companies that do a lot of business inside China, like Apple and Coca-Cola.  Judy Woodruff gets analysis from Eswar Prasad of Cornell University and Michael McDonough of Bloomberg.

POLITICS - The U.S. Financial Hostage Crises, Tea Party Radicals Crash Agreement (again)

These Tea Party radicals are just as bad as al-Qaida or any other foreign terrorist.  They are willing to risk the U.S. economy and our 'full faith and credit' around the world to get what they want, and cannot get through legitimate legislative means.  They think they can dictate U.S. policy by holding a 'gun' to our heads.

Democracy means you do not always get what you want, it requires compromise.  Our nation's debt limit has nothing to do with any other policy and needs to be raised without attaching demands.

"Senate suspends negotiations pending 'more acceptable' plan from House GOP" PBS Newshour 10/15/2013

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SUMMARY:  Negotiations in the Senate towards a shutdown solution were interrupted by news that the House GOP would attempt to pass a bill that Majority Leader Harry Reid disparaged as "a blatant attack on bipartisanship."  Congressional correspondent Kwame Holman reports.  Judy Woodruff gets an update from Carrie Budoff Brown of Politico.

"Known as the 'safest asset,' bond market braces for U.S. debt ceiling deadline" PBS Newshour 10/15/2013

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SUMMARY:  If lawmakers fail to avert a debt default, there could be a devastating impact on the national economy: mortgages soaring, consumers unable to borrow, the government forced to pay more to borrow more, plunging us deeper into debt.  Economics correspondent Paul Solman reports on how the bond market is anticipating the situation.

"Senators Restart Talks as Default Looms" by JONATHAN WEISMAN, New York Times 10/15/2013

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With the federal government on the brink of a default, a House Republican effort to end the shutdown and extend the Treasury’s borrowing authority collapsed Tuesday night as a major credit agency warned that the United States was on the verge of a costly ratings downgrade.

After the failure of the House Republican leadership to find enough support for its latest proposal to end the fiscal crisis, the Senate’s Democratic and Republican leaders immediately restarted negotiations to find a bipartisan path forward.  A spokesman for Senator Harry Reid of Nevada, the majority leader, said Mr. Reid was “optimistic that an agreement is within reach” with Senator Mitch McConnell of Kentucky, the Republican leader.

With so little time left, chances rose that a resolution would not be approved by Congress and sent to President Obama before Thursday, when the government is left with only its cash on hand to pay the nation’s bills.

"With G.O.P. Badly Divided, Boehner Is Left ‘Herding Cats’" by ASHLEY PARKER and JEREMY, New York Times 10/15/2013

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After House Republicans began their closed-door meeting on Tuesday with an impromptu rendition of “Amazing Grace,” Speaker John A. Boehner stood up with what he hoped would be an equally inspiring message.

The Senate was trying to steamroll the House with a new plan to reopen the government and lift the debt ceiling, leaving his team with only two options: “We can wait on the Senate for four days and accept whatever they give us,” he told them.  “Or we can go on offense and force their hand.”

It was yet another moment of decision for Mr. Boehner, who finally finds himself at the crossroads he has been marching toward for weeks: an imminent financial default on the one hand, and on the other an unyielding conservative rank and file that persists with the futile effort to take down President Obama’s health care law even if they also take down the speaker in the process.

POLITICS - The U.S. Financial Hostage Crises, Reverberations Near and Far

As Republicans hold our economy and financial standing hostage to Tea Party (aka bullies) extremist demands......

Message to President Obama, Democrats, and the few Moderate Republicans that may still be left, DO NOT GIVE IN TO HOSTAGE TAKERS!

"Sens. Reid, McConnell both 'optimistic' shutdown deal can be reached" (Part-1) PBS Newshour 10/14/2013

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SUMMARY:  Both Senate Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky., expressed optimism that a deal on the shutdown would be reached by the end of the week.  However, it remained unclear how House Republicans would receive any Senate resolution.  Congressional correspondent Kwame Holman reports.

"What might both parties give up to 'escape' shutdown impasse?" (Part-2) PBS Newshour 10/14/2013

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SUMMARY:  Senate leaders showed hope that they might be headed towards an end to the government shutdown, while House remains uneasy about the path forward.  Robert Costa of the National Review joins Gwen Ifill to discuss why a short-term deal may be necessary and what concessions both sides may make to resolve the damaging impasse.

"Impacted U.S. communities pay price of shutdown" PBS Newshour 10/14/2013

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SUMMARY:  From local economies dependent on defense spending to tourist hot spots reeling from closures, communities across the nation are feeling the pinch of the government shutdown.  Judy Woodruff gets perspective from Cathy Lewis of WHRV in Hampton Roads, Va., Karen Kasler of Ohio Public Radio and Scott Shafer of KQED in San Francisco.

"Will 'artificially imposed crises' have consequences for U.S. economic standing?" PBS Newshour 10/14/2013

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SUMMARY:  As lawmakers show signs of progress towards a deal to end the shutdown and raise the debt ceiling, how are global markets responding?  Ray Suarez gets analysis from Zanny Min-ton Beddoes of The Economist on the effects that repeated political standoffs over may have on U.S. financial credibility.

POLITICS - The U.S. Financial Hostage Crises, World View

"World Leaders Press the U.S. on Fiscal Crisis" by ANNIE LOWREY and NATHANIEL POPPER, New York Times 10/13/2013

Leaders at World Bank and International Monetary Fund meetings on Sunday pleaded, warned and cajoled: the United States must raise its debt ceiling and reopen its government or risk “massive disruption the world over,” as Christine Lagarde, the fund’s managing director, put it.

The fiscal problems of the United States overshadowed the official agendas for the meetings, with representatives from dozens of countries — including two of Washington’s most important economic partners, Saudi Arabia and China — publicly expressing worries about what was happening on Capitol Hill and in the White House.

The leaders came to Washington to talk about the international recovery, Ms. Lagarde said in an interview on the NBC News program “Meet the Press.”  “Then they found out that the debt ceiling was the issue,” she added.  “They found out that the government had shut down and that there was no remedy in sight.”

“So it really completely transformed the meeting in the last few days,” Ms. Lagarde said.

With only three days left before a potential default, Senate leaders failed on Sunday to reach agreement on a plan to reopen the government and raise the debt limit.

Many leaders at the World Bank and I.M.F. meetings said they believed the impasse would be resolved before Thursday, when the government would be at severe risk of not having enough money to pay all its bills on any given day going forward.

But they pressed Treasury Secretary Jacob J. Lew and the Federal Reserve chairman, Ben S. Bernanke — who were both at the I.M.F. meeting — on the issue, predicting that even a near-default would lead to higher borrowing costs and a slowdown of the global economy.

“This cannot happen, and this shall not happen,” Baudouin Prot, chairman of the French bank BNP Paribas, said at a meeting of the Institute of International Finance also being held in Washington.  “The consequences of this would be absolutely disastrous.”

Mr. Lew acknowledged the threat. “Our work begins at home,” he said.  “We recognize that the United States is the anchor of the international financial system.  With the deepest and most liquid financial markets, when risk rises, the flight to safety and to quality brings investors to U.S. markets.  But the United States cannot take this hard-earned reputation for granted.”

Participants at the meetings remained on edge, given the gravity of the threat.  Ms. Lagarde said “that lack of certainty, that lack of trust in the U.S. signature” would disrupt the world economy.

Wolfgang Schäuble, the German finance minister, issued his own urgent appeal.  “The fiscal standoff has to be resolved without delay,” he said in a statement released by the I.M.F.

Jamie Dimon, the chief executive of JPMorgan Chase, painted a bleak picture of the days ahead if there is no resolution.

“As you get closer to it, the panic will set in and something will happen,” Mr. Dimon said at the international institute event.  “I don’t personally know when that problem starts.”

He added that JPMorgan had been “spending huge amounts of time and money and effort to be prepared.”

Many of the high-ranking officials present in Washington for the meetings made open appeals to Congress, with warnings coming from many of Washington’s allies and creditors.  Ms. Lagarde’s counterpart at the World Bank, the American physician Jim Yong Kim, said the world was “days away from a very dangerous moment.”

“The closer we get to the deadline the greater the impact will be for the developing world,” he said.

Fahad Almubarak, governor of the Saudi Arabian Monetary Agency, said “urgent political agreements on budget and debt issues are necessary to preserve and, indeed, reinforce the modest recovery.”  And Yi Gang, an official with China’s central bank, said the fiscal uncertainties “must be addressed promptly.”

Concern over the impasse has already led to a slide in stocks — including the worst two-day dip in months.  American economic confidence has taken the worst hit since the collapse of Lehman Brothers in 2008.  And investors have dumped certain short-term Treasury debt because of fears that the Treasury might not pay them back on time.

Markets ended last week with a burst of optimism, after House Republicans took the first steps toward a compromise.  But that optimism faded over the weekend.  On Sunday, with negotiations in the Senate stalled, the value of the dollar was sliding.

In the Asia-Pacific region early Monday, stock markets moved lower in Singapore, Taiwan and Australia. Markets in Hong Kong and Japan were shut for holidays.

On Monday, all eyes in the American and European markets will be focused on the negotiations in Congress.  Big American companies will announce their quarterly results this week, normally a significant event for Wall Street.  But that is likely to attract little attention until the political negotiations are settled.

There has been much debate about how quickly problems will ripple through the economy before and after the deadline.  The Treasury Department will continue to take in money and might be able to pay its bills for as long as two weeks.  Some House Republicans have said that even if the Treasury misses some payments, it will have enough money to avoid defaulting on its debt, the most frightening outcome for financial markets.

The I.M.F., which lends to governments that have trouble finding financing on the sovereign debt markets, said it had been planning for any market disruptions.  Mr. Kim of the World Bank said that the United States’ flirtation with default in 2011 raised borrowing costs for many poor countries.

Much of the attention has been on the enormous outstanding pool of Treasury bonds and bills.  Short-term government bills are used to grease the wheels for many financial transactions and provide a benchmark from which other assets are priced.  If the value of that debt was suddenly drawn into question, markets could quickly seize up.

Money market funds, the popular mutual funds that own large amounts of Treasury bills, have been selling those that are scheduled to pay out in late October and November.

Anshu Jain, the co-chief executive of Deutsche Bank, said on the international institute panel that his executive team had been trying to make contingency plans in case of a default, but it had struggled to come up with measures that would significantly stem the losses.

“You don’t want to go into all of it,” he said.  “This would be a very rapidly spreading fatal disease.”

POLITICS - The U.S. Financial Hostage Crises, No Negotiation With Hostage Takers

"House GOP plan unclear as Obama reiterates no negotiation under shutdown threat" PBS Newshour 10/7/2013

Excerpt

SUMMARY:  President Barack Obama spoke at FEMA where he said he will not negotiate with House Republicans while the shutdown continues.  A senior presidential adviser suggested the White House might be open to a short-term debt limit increase.  Judy Woodruff talks to Robert Costa of the National Review about the continuing impasse.

"Default Threat Generates Fear Around Globe" by STEVEN ERLANGER, New York Times 10/7/2013

Excerpt

The bitter fiscal stalemate in Washington is producing nervous ripples from London to Bali, with increasing anxiety that the United States might actually default on a portion of its government debt, set off global financial troubles and undercut fragile economic recoveries in many countries.

Five years after the financial crisis in the United States helped spread a deep global recession, policy makers around the world again fear collateral damage, this time with their nations becoming victims not of Wall Street’s excesses but of a political system in Washington that to many foreign eyes no longer seems to be able to function efficiently.

There is plenty of evidence that the United States remains engaged globally on many levels, with the dual commando raids on targets in Africa this weekend the most recent.  But the partial shutdown of the United States government has shown again that Washington’s problems extend beyond American borders.  Effectively grounded by the political crisis at home, President Obama was absent from a summit meeting of Pacific Rim leaders in Indonesia on Monday, giving China greater opportunity to highlight its role in the region.

One of the attendees, President Vladimir V. Putin of Russia, provided a possibly sardonic statement of sympathy for Mr. Obama.  “We see what is happening in U.S. domestic politics and this is not an easy situation,” Mr. Putin said, adding, “If I was in his situation, I would not come, either.”

In Europe, the effort to reach a big new trade accord with the United States is at a standstill, with many government agencies in Washington operating with skeletal staffs.  And as worrisome as that kind of delay is in Europe, it is only a precursor to the almost certain economic fallout if the United States does not raise the debt limit and defaults for the first time on government securities.

Foreigners often complain, usually with some forbearance, that the United States is so powerful that its president is in some important sense their president, too. In their case, however, they lack the opportunity to cast a vote.

There is not much that any foreigner can do about Mr. Obama’s confrontation with the House speaker, John A. Boehner, who said Sunday that his Republican members would not accept a clean bill — one with no conditions — that would raise the American debt limit before the government hits its borrowing limit and risks technical default as soon as next week.  At the same time, Mr. Boehner has told colleagues privately that he would avert a default, but whether he actually has the ability to do so remains uncertain.

“The international community is asking, ‘Does the U.S. still have the will to act?’ ” said Xenia Dormandy, a senior fellow at London’s Chatham House and a former American official in the State Department and the National Security Council under President George W. Bush.

“Both the Syria vote and the current budget crisis are nerve-racking for the world,” she said, referring to Mr. Obama’s sudden decision to ask Congress to authorize a strike on Syria and then changing his mind.

Alain Frachon, a columnist and former Washington correspondent for the French newspaper Le Monde, said, “Washington is looking more like the Italian political system, with its permanent crises, and not a presidential system, as before.”