Marketplace All-in-One

Just a few years ago, 78-year-old Poinsetta McKnight was the last homeowner living on the 1900 block of Etting Street in Baltimore. The street bore the scars of redlining, but with the help of the nonprofit Black Women Build – Baltimore, the block has come back to life. More than half a dozen homes have or are being renovated by and sold to Black women at affordable prices, with plans for further development and community building in the works. Plus: Unpacking today’s inflation numbers; supply chain issues come to a bookstore near you; and two young nurses on why burnout in health care is so severe right now.

The last time inflation showed a spike like this, “Dances With Wolves” and “Home Alone” were dominating the box office during the first Bush administration. Susan Schmidt of Aviva Investors uses this data to kick off our discussion about the markets. We hear some more insight on inflation from U.S. Treasury Secretary Janet Yellen, who talked with Marketplace’s Kai Ryssdal earlier in the week. Sticking with the theme of rising prices, we look into how people are swapping out what they buy in the grocery store as a result. There’s also been a rise in foreclosures, and it doesn’t seem like it’ll slow down.

A New York art collective called MSCHF says it got an early sketch by artist Andy Warhol, made 999 copies of it, mixed in the real drawing with the fakes, then sold all 1,000 without knowing which was the real Warhol sketch. Blasphemy? Maybe not, according to the art critic and Warhol biographer we spoke to. The electric vehicle maker Rivian makes its debut on the Nasdaq. The BBC reports from the COP26 climate conference regarding a draft agreement from the United Nations.

From the BBC World Service: Now, the tech giant may be forced to rethink parts of its business model after the European Union’s second highest court upheld a $2.8 billion fine imposed by the E.U.’s digital and competition chief, Margrethe Vestager. Plus, shares of another Chinese property developer, Fantasia, dropped nearly 50% in Hong Kong. And, Afghanistan’s former finance minister says the country’s government was brought down by rampant corruption, even among top army generals.

All this week we’re talking about what regulation of the tech industry could look like. Lawmakers are examining how companies manage online content, including whether Section 230, which shields platforms from liability for what users post, needs a closer look. Republican Senator Chuck Grassley of Iowa has been outspoken on the issue. Marketplace’s Kimberly Adams sits down with Grassley for an interview at the U.S. Capitol.

Kai Ryssdal often liked to play a game on the show he would call What’s Janet Yellen Thinking? Well, today he took a trip to Washington, D.C., to ask just that. The two chatted about the potential impact of the Build Back Better bill, why Yellen thinks the current inflation is transitory and why raising the federal debt limit is “simply a must.” Also on today’s show, we’ll chat about General Electric’s big breakup announcement, revisit teen employment and hear from a couple in Brooklyn, New York, who are still reeling from the aftermath of Hurricane Ida.

Listeners, it’s time to talk about the Great Resignation.

That’s the name used to describe this moment in time as a large number of American workers quit their jobs at unprecedented rates.

“I also like a lot of other great R-words. I use the Great Reshuffling to talk about the uptick in migration and business formation. I talk about the Great Rudeness when it comes to the fact that a lot of people have been sort of locked in their houses for the last year or at least going out less, or, you know, being rather jerkish to flight attendants and waitstaff. And I also call it the Great Reset, because … I think a lot of people are not only rethinking what exactly they want to do for eight hours a day in their next job, they’re also thinking about rethinking about their relationship with work,” said Derek Thompson, who has been writing about this phenomenon for The Atlantic.

According to the Labor Department, 4.3 million workers left their jobs in August. The quits rate, as it’s called, is up to 2.9%, the highest since the department started keeping track. We usually look at the quits rate as an indicator about how optimistic workers are feeling about their ability to find another job.

On the show today, we’ll talk about the reasons driving people to leave their jobs right now, why it might actually be a good thing for the American workforce and what it means for our complicated relationship with work.

In the News Fix: a portrait of some of the underrepresented voices in our economy and what happened when they banded together. Plus, we’ll highlight a couple of the less talked about parts of the infrastructure package.

Also, after one of our hosts (it was Kai) reveals his dislike for the Great Resignation moniker, some listeners call with their own suggestions. And what a pup taught a “Make Me Smart” listener about her love for dogs.

When you’re done listening, tell your Echo device to “make me smart” for our daily explainers. This week we’re doing the numbers on health insurance and explaining HIPPA and the problems with being underinsured. Also, don’t forget to subscribe to our newsletter! You can find the latest issue here.

Here’s everything we talked about today:

Read the transcript here.

General Electric is dividing itself into three new, separate businesses focused on aviation, energy and health care. The giant has struggled to recover from the previous financial crisis. Joining us to discuss it is Erik Gordon of the University of Michigan’s Ross School of Business. We discuss the markets with David Kelly of J.P Morgan. We also look into how the jammed-up ports of Los Angeles has retailers concerned about their ability to keep their shelves filled ahead of the holidays.

There are some key vacancies at the Federal Reserve. On Monday, Randal Quarles, a member of the Fed’s Board of Governors, announced he’s stepping down. With Quarles’ resignation, President Biden will have at least three seats to fill on the seven-member Fed Board of Governors. Some new research shows a shift in how people view the process of getting a loan. We also look into the lingering impact that abandoned, dormant oil wells can have.