Cardiff Garcia

Cardiff Garcia is a co-host of NPR's The Indicator from Planet Money. He joined NPR in November 2017.

Previously, Garcia was the U.S. editor of FT Alphaville, the flagship economics and finance blog of the Financial Times, where for seven years he wrote and edited stories about the U.S. economy and financial markets. He was also the founder and host of FT Alphachat, the Financial Times's award-winning business and economics podcast.

As a guest commentator, he has regularly appeared on media outlets such as Marketplace Radio, WNYC, CNBC, Yahoo Finance, the BBC, and others.

Life On China's Blacklist

Oct 10, 2018

In America, default and bankruptcy is almost a rite of passage for people in business. It's certainly nothing to be ashamed of. In China, however, failure to pay your debts is a cardinal sin. Offenders are banished to a blacklist. If you're on the blacklist, you can't buy a plane ticket or stay in many hotels. And your face may be plastered on billboards throughout the city, naming you as untrustworthy. Today on the Indicator, we talk with a coal broker who has been on the list for more than two years.

Who can you trust? How can you tell whether someone who borrows money from you will pay it back? In the U.S., we have a credit score to help make these calls. But in China, no such system exists.

So the government came up with its own equivalent: it will score peoples' trustworthiness using not just court and bank records, but also data from the online shopping companies. Today on the Indicator: China's social credit system and what it might mean for citizens.

The jobs news this week continues to be good: at 3.7 percent, the jobless rate is the lowest it's been since late 1969. But the number doesn't tell the whole story about the state of employment in America today.

Today on the Indicator, we steal from our econ pals to look at the jobs numbers through a few separate lenses. We look at the average number of jobs created over the last six months, which industries are hiring the fastest — and which are shedding jobs the fastest. Plus we look at the unemployment rates for certain demographics.

Team Indicator shares its reactions to the new NAFTA, now known as the USMCA. The deal probably does not represent a huge change to the way these countries trade with each other, but it could have intriguing consequences for America's approach to trade with China.

Music by Drop Electric. Find us: Twitter/ Facebook.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

ARI SHAPIRO, HOST:

For almost a century, General Electric was a powerhouse of the American economy, a byword for progress, innovation, and excellence.

GE did everything, from light bulbs to jet engines to medical devices to banking. And it was that last little venture that turned out to be a bridge too far. GE got into the business just ahead of the financial crisis, and once the dust from that debacle had settled, GE found itself more than a little dinged up. A decade later, the company still hasn't recovered. Today on The Indicator, we find out what brought GE to its knees.

Financial bubbles arise because people start taking more and more risks that they don't really understand.

But these bubbles are also fascinating for another reason: they tend to reflect the particular characteristics — the psychological and societal characteristics — of the times in which they inflated.

Today on the show, we speak with Joe Weisenthal of Bloomberg about the bubbles of the past decade, how they differ from earlier bubbles, and what they tell us about the times we're living through.

D.C.'s Billion-Dollar Lawsuit

Oct 1, 2018

Back in the 1970s, black residents made up more than 70% of Washington, D.C.'s population. Since then, that share has fallen to less than half. There are many reasons for this demographic shift, but Ari Theresa, an attorney, says one big one is the city's implementation of an unofficial policy aimed at attracting workers in tech, science education, the arts, media and design — the so-called creative class.

NPR White House correspondent Scott Horsley asked us to solve a mystery for him: He's been reporting on corn prices, which have been falling lately, but when he went to get a snack from the vending machine in the press corps break room in the White House, he discovered the price of a bag of Fritos had risen 20% (a quarter!) Today on the Indicator, the case of the pricey Frito! A tale of transportation costs, tariff penalties, and our deep love of salty snacks.

Archival tape from Suspense

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

STEVE INSKEEP, HOST:

One of the toughest parts of living in a big city is finding an affordable place to live. That might be getting a bit easier. Here's Stacey Vanek Smith and Cardiff Garcia from NPR's economics podcast The Indicator.

President Trump recently slapped tariffs on another $200 billion worth of Chinese goods. The aim is to level the playing field with China on trade. U.S. administrations have been trying to do this for decades, often preferring a multilateral approach. Trump's trade war is simply an attempt to reach the same goal using a different means. The problem with trade wars is that they're unpredictable, and they inflict pain on everyone involved.

The financial crisis was brutal for the American economy, so it's no surprise that we still bear the scars. But some of the lingering damage is evident in areas that you might not expect. Today on the Indicator, where we're a lot more cautious than we used to be.

Music by Drop Electric. Find us: Twitter/ Facebook.

This week, back in 1933, a team of American Geologists from Standard Oil Company in California arrived on the shore of a small, sparsely populated Middle Eastern country called Saudi Arabia. Today on the Indicator: what the team of geologists found and how it changed the economy of a country and the global economy for better ... and for worse.

Archival Footage: "Desert Venture"

Rent!

Sep 21, 2018

Ever since the end of the financial crisis, rents have been rising all across America. A recent report from Zillow put the median monthly accommodation rental payment in the U.S. at $1440.

The good news is, that it is the same as last year. After years of rising, rents are finally leveling off. Susan Wachter of the Wharton school talks with Stacey and Cardiff about what that means for renters and for the entire U.S. economy.

A standout characteristic of emerging economies is their volatility: they have a tendency to boom and go bust, often frequently and often fast. George Magnus, an economist and author of Red Flags: Why Xi's China is in Jeopardy, has been studying China and other young economies to understand why it is that emerging economies experience these ups and downs. He has found that quite often these emerging market boom and bust cycles often follow a similar pattern

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