Although the Mississippi flooding is no where near finished, the economic blow to the region is already very high. Besides the loss to personal and commercial properties, over 100,000 acres of farmlands were flooded on the weekend and grain elevators all along the river are knee deep. The trade commerce that uses the river as a main transportation waterway is being slowed and in some places, barges are moored completely. Over 60 percent of the U.S exported grain is transported via the Mississippi - and the already volatile commodity markets are acting accordingly.

The price of oil has risen to just over $71 dollars a barrel, which is a high point for the year. This is good news for a global commodity that has seen its prices drop by 100 percent in the past three months. But the price increase could hit American's pocketbooks hard. Mark Gregory, international business reporter for our partners the BBC, joins us with his analysis.

This week marks the start of the 15th anniversary of the Rwandan genocide in which an estimated 800,000 ethnic Rwandan Tutsis were killed by ethnic Rwandan Hutus. The genocide destroyed Rwanda’s economy and infrastructure. Today, the Rwandan capital of Kigali is a place of cafes with wi-fi and gourmet coffee even a shopping mall. The Takeaway talks to Jeff Chu, Senior Editor at Fast Company magazine. His story Rwanda Rising, in this month’s issue explores Rwanda President Paul Kagame's aggressive attempts to bust traditional aid models, court western investors, and to turn Rwanda from an impoverished nation into a powerful, popular brand.

After you read his article, be sure to read Jeff Chu's interview with Rwanda's President in Fast Company.

The Commerce Department is reporting that the economy contracted at a staggering 6.2% pace during the fourth quarter, the worst contraction in 25 years. Declines are across the board from consumer spending to business investment. Kelly Evans, an economics reporter for the Wall Street Journal joins us to help dissect and digest this.

Watch a video of Kelly Evans talking to her colleague Phil Izzo about how inventory build up at the fourth quarter inflated the GPD report.

Former Washington State Governor Gary Locke is reportedly President Obama’s pick for Commerce Secretary. His third pick... but hey, who’s counting? In Locke, Obama has found a nominee with extensive U.S.—China trade credentials who is also an Eagle Scout. For more details on this new pick, we are joined by Tom Banse a regional correspondent for Northwest Public Radio who covered Governor Locke from 1996 - 2004.

Who will Gary Locke be sitting next to if he becomes Commerce Secretary? Check out our handy guide to President Obama's cabinet for the answer.