Marketplace All-in-One

Since Russia’s invasion of Ukraine six months ago today, the ruble has cratered and rebounded and sanctions by Western governments have isolated the country. Today, we’ll look at how the war has scarred Russia’s economy and consider how it may fare in the months ahead. Plus, we’ll dig into why a college education is so pricey and hear how some small business owners are dealing with a glut of inventory.

The whistleblower complaint from a former Twitter security chief alleges that the social media platform doesn’t know exactly how many fake accounts there are. That sounds a lot like one of Elon Musk’s reasons for pulling out of a $44 billion deal to buy the company. But Erik Gordon, a professor at the University of Michigan’s Ross School of Business, says that’s just the start of the potential legal trouble Twitter could face now. Plus, housing sales might be down, but prices aren’t there yet. What does that mean for the fight against inflation? We ask Susan Schmidt, head of U.S. equities at Exchange Capital Resources. Also, how extreme weather caused by climate change is yet another force contributing to inflation, especially in commodities like cotton. And, an update on fundraising money for aid in Ukraine.

Every August, Jackson Hole, Wyoming, becomes the center of the financial world for a few days as central bankers, academics and economists from around the world gather for a symposium. But how did this get to be such a big deal? A teachable moment and a history lesson for you today. Plus, the latest on reports that the Biden administration will make an announcement on federal student loan forgiveness. And, a plan in Washington, D.C., to help first-time homebuyers with low-interest loans at a time when inflation is making down payments more difficult.

From the BBC World Service: The U.S., which has already sent $10 billion to Ukraine, is expected to announce another $3 billion package, the largest so far. Charities of all shapes and sizes have been doing what they can on the ground, but recently giving has slowed. We caught up again with Ukrainian chef and cookbook author Olia Hercules in her London home to hear about her latest fundraising efforts. And, South Africans are taking to the streets to protest against soaring food and fuel prices, and ongoing power cuts.

Throughout the U.S., usually right after a baby is born, a doctor or nurse takes a pinprick of blood from the newborn — often from its cute, little feet — to screen for diseases or genetic defects. These blood tests are mandatory and create a health and genetic database. But who gets access to that genetic information, and for what purpose, is at the center of several legal fights. In New Jersey, the Office of the Public Defender recently sued the state testing program after police allegedly used a newborn’s blood sample to help them obtain a warrant for the father’s DNA. “Marketplace Tech’s” Kimberly Adams spoke with reporter Nikita Biryukov at the New Jersey Monitor, who broke the story.

Have you heard of Leonardo Leo?

He’s basically a kingmaker in conservative big money politics, and he’s making it rain! His dark money group just received $1.6 billion, what’s believed to be the largest single donation to a political nonprofit, and it’s expected to have an immediate impact on the November midterms.

On the show today, Sheila Krumholz, executive director at Open Secrets, discusses what voters need to know about money in politics before they head to the polls. She explains how political contributions have evolved and why the system is not expected to change anytime soon.

In the News Fix, we’ll talk about the ripple effects of the war in Ukraine and what it has to do with how much it might cost to warm your home this winter. Plus, what’s up with all the pearl clutching over “quiet quitters?”

Then we hear a listener’s hack that’ll save you money in the kitchen. And actor and TV host LeVar Burton (we’re fangirling right now) answers the Make Me Smart question.

Here’s everything we talked about today:

What is something you thought you knew, you later found out you were wrong about? We’re looking for your answers to the Make Me Smart question. Submit yours at [email protected], or leave a voice message at 508-U-B-SMART.

New home sales were down nearly 30% year over year in July. That has builders and real estate agents crying “recession,” but prices are still high and foreclosures are low. So what’s really going on? We’ll talk about it on today’s show. Plus: The Finnish prime minister and feminine power, big money in youth sports and the future of American chip manufacturing.

Markets saw their worst day yesterday since June with traders worried about potentially more interest rate increases to come from the Federal Reserve. We’ll get a better idea of where the Fed is at when Chair Jerome Powell speaks Friday at the Jackson Hole Economic Symposium. Today, we spoke with Stifel chief economist Lindsey Piegza about what might be next in the Fed’s fight against inflation. Plus, the average minimum salary someone is willing to accept for a new job has risen since last year. We get the latest snapshot of the labor market. And, the demand for help from local abortion funds has risen as some states move to restrict or ban abortion.

There’s fresh data out on when and if the U.S. economy will see a recession — 72% of economists surveyed by the National Association of Business Economics believe we’ll be in a recession a little less than a year. But all this recession talk weighs on Americans and their mental health. We talked to one therapist and executive coach about why we may be feeling more anxious about the economy this time around. Plus, Ford announced yesterday that it would lay off 3,000 workers to cut costs as the automaker moves more toward electric vehicles. And, we hear about the economics of offshore wind farms in Scotland.

From the BBC World Service: Poland’s Grupa Azoty is one of Europe’s biggest fertilizer and chemical producers. It’s now suspended fertilizer production and cut back further on manufacturing of other chemicals due to the high natural gas prices. Plus, Scotland’s largest offshore wind farm is now generating electricity and will eventually generate enough power for 1 million homes. And, Japan’s supermarket on wheels is offering a lifeline to older consumers.