Economic attitude

Posted: Sunday, June 29, 2008 4:12 PM by Ian Sager

By Lester Holt, NBC News anchor

Coming off a week that saw oil top $140, and the Dow sliding towards bear market territory, our colleagues at CNBC are releasing a poll this evening that shows, among other things, an overwhelming majority of Americans think the economy is in fair or poor shape. There are also new indications of the brewing economic trouble; high gas prices and real estate woes are now beginning to take a toll on the wealthy. We'll have more findings from that poll on Nightly News tonight as we try to explain all the forces eating at the economy, and why turning the corner toward recovery seems so difficult.

On a related note, the price of crude oil is affecting drivers in more ways than just the cost of gasoline. Savannah Guthrie is working on a piece for tonight about why we all may be facing more uneven and bumpy road surfaces as we drive this summer.

Michael Okwu continues his reporting on the Northern California fires, and the growing threat they pose to public health. Air pollution levels are high and it is having a profound effect on how many Californians are going about their lives.

We will also be looking at the science of speed and the controversy over the swim suits American athletes may be competing in at the summer Olympics. Some say they provide an unfair advantage, and NBC's Leanne Gregg will explain why.

I hope you'll join us for NBC Nightly News.

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Comments

Good Evening Mr.Holt, Nice to see you this evening. The state of the economy is in poor shape and is having an effect on everyone. The more I hear the worse the news seems to be, but I do hope there is a turn for the better soon, yet it is going to be difficult. Sounds like the fires in California are really causing some serious problems for the residents. Hopefully, it will improve an the air will be safer to breathe. Looking forward to the broadcast Mr.Holt. Peace to you and to all!

Lots of Love to Laurel,Jackie,Stephanie,Celine,Claudia,Anna and Matt!
Be Well Always!
Claudia-I will let you know when I see Richard's documentary on the web! I always keep informed of Richard!
XOXO

Lisa McNeil,Alpharetta,Georgia (Sent Sunday, June 29, 2008 4:40 PM)

Oh, man. It's not just road surfaces that are made with oil. Most of the stuff we use every day is made with oil and petrochemicals.

Almost every last bit of plastic is produced with oil, as are dish soap and detergents, make-up and hair dye, pen ink, pain relievers, vitamins, camera film, carpeting, polyester fabric, crop fertilizers, pesticides, candle wax, non-stick bandages, synthetic rubber items from shoe soles to car tires, canned food, and countless other products. When oil is up, and those products cost more to make, guess what happens to prices?

Yes, rising transportation and shipping costs are painful, and can raise consumer costs in their own right. But we're going to feel the burn of $140-a-barrel in an incredible number of ways.

Worse, if and when we see the end of oil, it's not just our driving that's going to be affected. We can put electric cars back on the market. But we can't easily take plastics, or any of the other litany of petro-products off of it.

Josh Braun, Ithaca, NY (Sent Sunday, June 29, 2008 4:44 PM)

Hey, all -

Is it just me, or is anyone else not finding the video player and video clips/netcasts, when bringing up the Nightly News webpage? It's been like that for a few days, in my experience.

Anyway, here are a couple clips from elsewhere I thought the "regulars" would be interested in....

RE on Voice of America:
http://www.voanews.com/english/2008-06-16-voa21.cfm

Stephanie: Apparently, you can even view this with dial-up.

RE profiled in Washington Post:
http://www.washingtonpost.com/wp-dyn/content/article/2008/06/09/AR2008060902790.html

Have a good weekend!

Lots of love to L, J, S, Ce, Cl, A, and M. XOXO

lnp, 37, leonardtown, maryland, usa (Sent Sunday, June 29, 2008 5:44 PM)

Good Evening Mr.Holt, Good broadcast this evening. First of all the wildfires in California seem to be getting worse and worse. Seeing the hazy air over the bay area must be so hard for residents who have breathing problems. They do not need anymore storms to hit the cities with more lightening. Hopefully it will improve this week. Every report about the economy was depressing and it appears things aren't changing for the better this summer. It really makes one want to stay home period if one can possible do. Finally, any rescue of the dolphins from the river will be good news and they can swim to safety. Thank you for the broadcast Mr.Holt. Peace to you and to all!

Lots of Love to Laurel,Jackie,Stephanie,Celine,Claudia,Anna and Matt!
Thank you Laurel for the Richard links! Very nice pictures!!
Be Well Always!
XOXO

Lisa McNeil,Alpharetta,Georgia (Sent Sunday, June 29, 2008 7:10 PM)

@Claudia and Anna - Responded to your thoughts in an earlier thread.

http://dailynightly.msnbc.msn.com/archive/2008/06/28/1173976.aspx

The reply isn't up yet as I write this, but I imagine someone will get around to moderating it at some point.

Josh Braun, Ithaca, NY (Sent Sunday, June 29, 2008 7:37 PM)

That was a big story this evening on Oil
in Iraq with Richard Engel. More oil in
Iraq than Saudia Arabia. Imagine that.

I want to pick up Mr. Engel's book this
week. It is in the Louisville stores now.

Phyllis Kunz Louisville, Ky (Sent Monday, June 30, 2008 7:52 PM)

I find it interesting that you mention that the economic problems such as high gas prices and real estate costs are beginning to affect the wealthy. Does this mean something will finally be done about it? These problems have been affecting the poor and middle class for some time now but nobody seemed to care. If we aren't headed for a depression then just what is happening here?

Kelly R. Cheney, Wa. (Sent Tuesday, July 01, 2008 5:22 AM)

I read that the Pentagon charged Saudi with USS COle
Bombing, and If I remember correctly Bill CLinton
was president at the time and did nothing which
may have resulted in 9/11, according to some.and I
agree with them.
Phyllis Kunz

Phyllis Kunz Louisville, Ky. (Sent Tuesday, July 01, 2008 11:24 AM)

Mr. Holt,
In my engineering studies I have found that our economy will implode and there is little we can do about it. Our national debt, the negative balance of trade and personal debt has encumbered all our tangible, reproducible and fixed national wealth leaving nothing but the indomitable will of the American people that will force a recovery however painful. For mathematical proof go to http://www.vicbrant.com

Victor Brant, Cape Girardeau, Mo.. (Sent Tuesday, July 01, 2008 1:17 PM)

I saw on a Poll today that people think things are
getting better in Iraq, which is most encouraging.

If only the weather would get better. It's surreal.
I really like that red and pink tie, one of my
favorite color combinations.

Phyllis Kunz

Phyllis Kunz Louisville, Ky. (Sent Tuesday, July 01, 2008 2:29 PM)

I saw a photo of Matt Lauer in swim trunks on AOL.
Where is your photo?

Phyllis Kunz

Phyllis Kunz Louisville, Ky. (Sent Tuesday, July 01, 2008 3:48 PM)

Mr. Holt,
I saw the interview on The Daily Nightly with
Richard Engal about the possible attack of Israel
on Iran and the repercussions with The United States,
which was alarming, and it seems to me that all
Americans should support President Bush on his
Peace Plan for The Middle East and stop bashing
the president which has become a national pastime
and is UnAmerican. Surely, the Bush-bashers do not
World War 3 or Armagaddan, depending on your
worldview. Of course, his critics would not be
satisfied if he implemented the Peace Plan. Then,
they would declare him the Antichrist.

Phyllis Kunz

Phyllis Kunz Louisville, Ky. (Sent Tuesday, July 01, 2008 7:04 PM)

Could we for once do a show regarding some good news as was reported on nightly news on 7-1-08 regarding the paper mill trying for a comeback....sometimes I think that nightly news programs only are out there for the bad times.....Oh how I wish that there were two good news stories for every bad news story....do you realize that viewers yen for that? We do need to know what goes on across the country...but we also need to know what goes on that is stimulating, straightforward and a story that is good for us....I believe that the media holds in their hands the controls for all of us.....we are like lemmings ....we follow what we are told....drive an suv if you feel safer...just drive it a little less...make your trips count...stay home a little more if you are not working....eat out once a week...we have to keep these restaurants and services open or what will we have...if we had good news week...I would bet the stock market would rally some....restaurants could bank on your business....maybe we would all go to bed that night with a good feeling in our hearts and not just more grief....it can be done....tonight's program was more like it....good for those papermill employees....

Linda F Phoenix, arizona (Sent Tuesday, July 01, 2008 11:45 PM)

I am a US military member currently deployed overseas. I watch the news daily, and I can't help noticing that all of the talk about the stimulus is mostly about the big corporations in America. What about the American people? Why not bail out the common tax payers? It seems to me that if you really want to stimulate the economy, you'd distribute some of that bail out money to the people. The $600 stimulus last year was a joke. Just think about what people would do with $10,000 or more. People would pay off loans, buy automobiles & homes, and spend it on whatever. They're spending it though, and that is stimulating the economy. Does this not make sense? Why isn't anyone talking about this idea?

American Patriot & Taxpayer

D Thomas, Tacoma, WA (Sent Friday, February 06, 2009 10:49 AM)

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