The Federal Bank’s latest move to inject $1 trillion into the economy has created quite a stir this week. But what does it mean when the bank of all banks creates money from what some may see as “thin air”? Many may ask where does money come from anyway? Since the 1970s U.S. currency is not measured against the gold standard, so how do we measure it these days?
President Obama made a direct appeal to the people of Iran last night. It's an attempt to end 30 years of distrust between Washington and Tehran. The Takeaway breaks down what this means for the relationship between the two countries with Zadeq Zibakalam, political science professor at Tehran University.
"For the first time we have a U.S. president which actually hasn't tried to separate between Iranian on the one hand and Islamic regime on the other. That in itself is a new development." — Sadeq Zibakalamn, political science professor at Tehran University, on Obama's Nowruz address to Iran
Watch President Obama's Nowruz message to the Iranian people below.
America is hurting. We hear about it and report on it every day. But so is the world’s second largest economy, Japan. Matt Frei became the BBC’s Asia correspondent just as Japan's economy sank in the 1990s and found himself covering economic collapse across the region. He now hosts BBC World News America and is re-visiting Japan and its economy. He joins The Takeaway this morning from Tokyo.
For a look at an internet cafe that several unemployed Japanese people call home, watch the video below.
In 1942, in the middle of World War II and at the start of food rationing, the writer MFK Fisher published How to Cook a Wolf. It's was meant to be a part cookbook part self-help guide to inspire those faced with the “wolf” of hard times to get creative in the kitchen. With today's economic climate, we thought it would be fun to revisit MFK Fisher’s classic book. So we asked New York Times food writer Melissa Clark to give us some tips from this classic.
The U.S. Treasury will give five billion dollars to auto suppliers in a bid to inject liquidity into the struggling industry that employs 500,000 people in the U.S. But you can’t call this one a bailout. Automakers GM and Chrysler now have to decide which suppliers will survive and which will fail. The Takeaway talks to Justin Hyde, Washington Correspondent for the Detroit Free Press.
Sexuality is a key component of the human experience. And many people who are intellectually or physically disabled may find it difficult to express their sexuality in satisfying and appropriate ways. Otto Baxter, a 21-year old man with Down's Syndrome, wants to have the same sexual experiences that his peers are experiencing and his mother, Lucy Baxter, is doing her part to make this a reality. But at what point does the search for a meaningful sexual experience become a universal one? A quest that proves to be no harder or easier whether you are disabled or not? Joining us to sort this through is Otto Baxter, and his mother Lucy Baxter as well as Karen Avery. She is the Associate Director of Independence First. Independence First is an independent living center dedicated to giving power and independence to people with disabilities.
Lucy's mission has garnered a lot of media attention. Here is one appearance:
Unemployment rates just continue to rise. The lack of work has lead to the unemployed taking whatever jobs they can get their hands on. As we look at the faces behind the numbers, we are joined by Jason Reed who lost his job as a carpenter and was evicted out his apartment, and is now living with his wife and three boys in a motel room in Westerly, Rhode Island. Also on the show is Tom Crawford who used to work as a paralegal making $40,000 a year, he now works as an insurance agent barely making ends meet. We are also joined by Mark Dixon, a placement coordinator for Good Temps here in New York City. He has seen first hand the increase in people coming to him looking for work and the jobs they are willing to take.
"One of the most important things to do is sell your ability and your desire and your drive." — Mark Dixon, placement coordinator for Good Temps, on how to market yourself to employers
Hispanic immigrants, both legal and illegal, make up eight percent of the labor force in this country. In factory towns like Morristown, Tennessee that figure almost doubles. The tensions in this small town between unemployed workers and illegal immigrants may give us an indication of how the Obama administration will have to approach its immigration policies in the midst of a troubled economy. The Takeaway is joined by Julia Preston, New York TimesImmigration Correspondent, who spent six months watching the dynamics of Morristown's labor market.
Julia Preston's story will be available Sunday in the New York Times.
President Barack Obama became the first sitting President to hit the late night talk show circuit when he joined Jay Leno on the Tonight Show last night. But did it make good television? For a recap and a judgment of his performance we are joined by Julie Mason, White House Correspondent for the Washington Examiner and comedian John Frusciante who is an artistic associate at the Upright Citizens Brigade.
In case you missed it, here's the clip. Judge for yourself!:
Pope Benedict is continuing his first trip through Africa as Pontiff. He's arriving in Angola right now and, as more than half of Angolans are Catholic, the excitement is high. Searching for hope, peace, and glimpse of the Pope, Angolans are flooding the streets of Luanda, where BBC correspondent Louise Redvers is right now.
Back in 1981, in the United Kingdom, a group of men from the Irish Republican Army made headlines.
They were imprisoned in a British jail in Belfast, Ireland. They said they were political prisoners. Margaret Thatcher said otherwise.The award-winning film "Hunger" tracks the last six weeks in the life of Irish hunger striker Bobby Sands. Sands starved himself to death at the age of 27, in a brutal Belfast prison called The Maze. His death raises questions about out notions of martyrdom and fanaticism. The Takeaway is joined by visual artist Steven McQueen, who directed the film.