Ann Pettifor on Europe & Dean Baker on the US economy
Data released on Wednesday shows that consumer prices fell in the eurozone for the first time since the global financial crisis in 2009. The consensus was that inflation would drop to about 0 or – 0.1%. But in the year to December, consumer prices dropped 0.2%. With oil prices still dwindling, it’s clear that falling consumer price inflation still has further to go. So basically, it’s the decline in oil prices that has pushed inflation over the zero mark. Erin weighs in.
Erin also sits down with Dr. Ann Pettifor – senior fellow at the New Economics Foundation and author of "Just Money: How Society Can Break the Despotic Power of Finance." Recently, a shortfall in tax revenue for the UK government has called the ruling coalition's deficit reduction targets into question. Ann tells us whether the British economy is strong enough to meet Chancellor Osborne's deficit targets.
After the break, Erin is joined by Dean Baker – co-director of The Center for Economic and Policy Research and author of the blog Beat the Press. Dean tells us if he thinks the US economy is on the upswing and gives us his take on what Washington can to do make sure growth can benefit middle class Americans.
And in The Big Deal, Edward Harrison takes a look at some of the hottest products featured at this year’s International Consumer Electronics Show in Las Vegas, Nevada. Check it out!