Economic news roundup

The Dow Jones industrial average closed down 519 points on Wednesday, Aug. 8, 2011. (AP Photo/Richard Drew)

Hour 1

Concern over the state of the global economy sent the stock market rolling this week.  Investors were worried about the European debt crisis and a double-dip recession.  This week also brought news of the Standard & Poor’s downgrade of the U.S. credit rating and an announcement by Federal Reserve Chairman Ben Bernanke that interest rates would remain low for two more years.  This hour we’re going to discuss what’s happening with the economy and what, if anything, can be done to fix it.  Marty talks with MENZIE CHINN, a professor of Public Affairs and Economics at the University of Wisconsin, Madison; and PHILLIP SWAGEL, a professor of International Economic Policy at the Maryland School of Public Policy at the University of Maryland

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