Marketplace All-in-One

We’ve talked quite a bit the past couple of days about the Ukraine conflict, sanctions against Russia and their impacts on the global economy. But it’s been six months since President Joe Biden withdrew troops from Afghanistan. American sanctions on the Taliban government are wreaking havoc, international aid has dried up and food insecurity is growing. Today, we check in on the state of humanitarian and economic crises currently playing out there. Also on the program: how home improvement stores are benefitting from the aging housing stock, and why more economic data doesn’t necessarily mean better economic forecasts.

The number of sanctions from countries against Russia has multiplied. While these sanctions all have a variety of targets and effects, Russia has actually been preparing for them for a number of years. Here to discuss this further is Neil Shearing, group chief economist at Capital Economics. Susan Schmidt joins us to talk about the markets. President Biden tries to loosen the kinks in the supply chain with funds.

A number of nations have now imposed economic sanctions on Russia over its aggression toward Ukraine, but markets this morning are reacting with a bit of a shrug. That’s because the effects – at least from the initial round of sanctions – are expected to be minimal. The decision from Germany not to sign off on the Nord Stream 2 pipeline could fog up the energy picture for Europe. Learning pods were an innovative educational solution during the pandemic, but as kids return to school, some see pods as both a superior method as well as a business opportunity.

From the BBC World Service: Western nations have unleashed what they call the “first tranche” of sanctions against Russia. Critics say the moves don’t go far enough, so we’re asking what other levers policymakers could pull. Plus, the Champions League title game is due to be played in St. Petersburg in May, but there are growing calls for the match to change cities as geopolitical tensions threaten to boil over.

The Federal Communications Commission decided last week to provide renters and condo dwellers with more options for internet service. Though it’s a pro-consumer move, it’s difficult to enforce, and, overall, competition among providers is pretty sparse. Still, it’s a small step toward recognizing high-speed internet as a utility, like water and gas.

Marketplace is for public good, not for profit. We count on you, our listeners, to help cover the cost of the tech and business reporting you rely on. We’re going to remain free and accessible to everyone. That’s part of our mission. But if you’re in a position to donate, we’re counting on you. You can use this link to donate now.

Credit scores are supposed to indicate how likely it is that someone will pay back money they borrowed. And credit scores matter — a lot. If you want to participate fully in this economy, you’ll probably need credit to buy a car or get housing and, in some cases, even to get a job. And yet, the current credit scoring system leaves lots of people out in the cold. About 26 million Americans are considered “credit invisible,” meaning they have no credit history.

“Anything that starts with good intentions, but that doesn’t have a whole lot of public accountability around it, will go off the rails,” said Frederick Wherry, professor of sociology at Princeton and director of the Dignity and Debt Network. Today’s credit scores were designed to make lending more fair by using data to determine who should have access to credit. But there’s still lots of inequity baked into the system.

On the show today, we delve into the mystery behind credit scoring and why some people think it’s time to rethink how we measure creditworthiness.

Share how your credit score has affected you with our sister show, “Marketplace Tech.”

And, there’s still time: Sign up for the “Make Me Smart” newsletter (or any other Marketplace newsletter) by Feb. 28 and be entered to win a signed “Vintage Kai” T-shirt.

Here’s everything we talked about today:

Today, President Joe Biden announced that the U.S. would join the European Union in sanctioning Russia for its military actions in Ukraine. The restrictions are targeted but could push up grain prices and are stirring anxiety about global energy prices. Economic blowback, along with COVID-19, inflation and supply chain issues, amount to a “central banker’s ultimate nightmare.” We’ll explain. Plus: Why some apparel wholesalers are waiting to sell their inventory and how rising prices are affecting the service sector.

The United States and Europe are gearing up to drop a blanket of sanctions on Russia, which sent troops into the rebel-held areas of Ukraine. Germany has already suspended certification of the Nord Stream 2 gas pipeline. We spoke with BBC international correspondent Theo Leggett to get a clearer picture of these developments. Scott Wren of the Wells Fargo Investment Institute discusses what the effect of Russia’s actions could have on the markets.

Two years ago, former President Trump signed the phase one trade deal between the U.S. and China, stipulating that China would buy an additional $200 billion worth of U.S. goods over pre-trade war levels by the end of 2021. That didn’t happen, and President Biden has criticized China for not living up to its commitments while also criticizing the trade deal itself. We spoke to Paul Krugman, Nobel laureate and New York Times columnist who recently wrote about the issue, about where the trade war has left the U.S. and what could happen next. The White House is poised to announce new economic sanctions to punish Russia after Vladimir Putin recognized two break-away regions of Ukraine as independent states – and ordered Russian troops into those areas.

From the BBC World Service: The U.S., U.K. and European Union are all set to impose fresh sanctions on Russia – we have the latest on what shape those might take. Also today, the world’s biggest gas producers are meeting in Qatar, with global gas supplies right at the center of those geopolitical tensions.