Robert Smith

Robert Smith is a correspondent for NPR's Planet Money where he reports on how the global economy is affecting our lives.

If that sounds a little dry, then you've never heard Planet Money. The team specializes in making economic reporting funny, engaging and understandable. Planet Money has been known to set economic indicators to music, use superheroes to explain central banks, and even buy a toxic asset just to figure it out.

Smith admits that he has no special background in finance or math, just a curiosity about how money works. That kind of curiosity has driven Smith for his 20 years in radio.

Before joining Planet Money, Smith was the New York correspondent for NPR. He was responsible for covering all the mayhem and beauty that makes it the greatest city on Earth. Smith reported on the rebuilding of Ground Zero, the stunning landing of US Air flight 1549 in the Hudson River and the dysfunctional world of New York politics. He specialized in features about the overlooked joys of urban living: puddles, billboards, ice cream trucks, street musicians, drunks and obsessives.

When New York was strangely quiet, Smith pitched in covering the big national stories. He traveled with presidential campaigns, tracked the recovery of New Orleans after Hurricane Katrina and reported from the BP oil spill.

Before his New York City gig, Smith worked for public radio stations in Seattle (KUOW), Salt Lake City (KUER) and Portland (KBOO). He's been an editor, a host, a news director and just about any other job you can think of in broadcasting. Smith also lectures on the dark arts of radio at universities and conferences. He trains fellow reporters how to sneak humor and action into even the dullest stories on tight deadlines.

Smith started in broadcasting playing music at KPCW in his hometown of Park City, Utah. Although the low-power radio station at Reed College in Portland, Oregon, likes to claim him as its own.

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Planet Money
3:22 am
Thu August 9, 2012

The Building That's In Two Countries At Once

Credit Robert Smith / NPR
Hans Hover has one foot in Germany, and one in the Netherlands.

Originally published on Thu August 9, 2012 2:43 pm

Zoe Chace and Robert Smith are reporting from European borders this week. This is the first story in a four-part series.

A metal strip on the floor of Eurode Business Center marks the border between Germany and the Netherlands.

On one side of the building, there's a German mailbox and a German policeman. On the other side, a Dutch mailbox and a Dutch policeman.

The building was supposed to make it easy to work in both countries. But it's also a reminder of how the European dream isn't yet a reality.

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Planet Money
4:11 pm
Fri July 20, 2012

Just How Blind Are Blind Trusts, Anyway?

Credit J.D. Pooley / Getty Images

Originally published on Mon July 23, 2012 10:32 am

As Mitt Romney has faced questions about his investments and tax returns, the likely Republican presidential nominee has responded with two words of explanation: blind trust.

Romney keeps most of his wealth in a blind trust designed to prevent him from knowing exactly where his money is and what it's doing. It's a long tradition for presidents and candidates, though anyone can set one up if he wants to.

But it turns out that not all blind trusts are equally blind. Some are cast into complete and utter darkness. Others are more nearsighted.

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Planet Money
12:10 pm
Fri July 6, 2012

Rigging LIBOR: Banking Scandal Hits Home (Literally)

Credit Lefteris Pitarakis / AP

Originally published on Mon July 30, 2012 9:20 pm

The biggest scandal in the world right now has nothing to do with sex or celebrities. It's about an interest rate called LIBOR, or the London Interbank Offered Rate.

Most Americans probably never heard of LIBOR. When I first moved to New York, I hadn't. Back then, I could barely afford my apartment and got an adjustable rate mortgage. And so I wondered: When my rate adjusts, how will I know how much I'll be paying?

I searched through all the documents and it was right there — LIBOR. I would be paying a few percentage points above whatever LIBOR was.

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Planet Money
3:16 am
Thu June 28, 2012

Going Public Is A Hassle

Credit Richard Drew / AP
Meh.

Originally published on Wed July 11, 2012 5:09 pm

Here's a classic story of how a multimillion-dollar company gets started.

A young guy named Seung Bak is on a trip to China. He gets back to his hotel room late one night and turns on the TV.

"I'm flipping through channels, and in the middle of China they are showing Korean dramas all around the clock," Bak says.

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Planet Money
3:04 am
Fri May 4, 2012

Food Trucks Seek 'That Mystical Spot'

Credit Lam Thuy Vo / NPR

Originally published on Mon May 7, 2012 2:55 pm

The Rickshaw Dumpling Truck is a retired postal van, painted red and filled with Chinese dumplings. I'm riding shotgun with Kenny Lao, the van's co-owner. It's a weekday morning, and we're driving into Manhattan looking for a killer spot to set up shop for the day.

"I think there is that mystical spot in midtown that every truck owner dreams of," Lao says. "Easy parking. It's a wide sidewalk. There's no restaurant but there's lots of offices."

There are 3,000 year-round food trucks and carts competing for that mystical spot. And no one has an official place to park.

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Planet Money
3:00 am
Thu April 26, 2012

On The Million-Dollar Trail Of A Mystery SuperPAC Donor

Credit iStockphoto.com
Some superPAC donors are hiding from public scrutiny.

Originally published on Thu April 26, 2012 11:19 am

Planet Money
12:01 am
Fri March 2, 2012

What The IRS Could Learn From Mormons

Credit Douglas C. Pizac / AP
The money Mormons tithe goes to The Church of Jesus Christ of Latter-day Saints headquarters in Salt Lake City, Utah, and then is distributed to congregations around the world.

Many religious traditions stress the importance of charity. But Mormons are remarkable for the amount and the precision with which they give to their church.

The Church of Jesus Christ of Latter-day Saints teaches that each Mormon in good standing should tithe 10 percent of his or her income. The money goes right to church headquarters in Salt Lake City and then is distributed back to congregations around the world.

"That's written in stone, and preached from the pulpit," says Gordon Dahl, an economist at the University of California, San Diego, who is Mormon.

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Planet Money
5:33 pm
Fri February 3, 2012

Who Killed Lard?

Credit Steve Snodgrass / Flickr
Old school.

Ron Silver, the owner of Bubby's restaurant in Brooklyn, recently put a word on his menu you don't often see anymore: lard. The white, creamy, processed fat from a pig. And he didn't use the word just once.

For a one-night-only "Lard Exoneration Dinner", Silver served up lard fried potatoes. And root vegetables, baked in lard. Fried chicken, fried in lard. Roasted fennel glazed with lard sugar and sea salt. Pies, with lard inside and out. All from lard he made himself in the kitchen.

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Election 2012
4:00 am
Wed January 11, 2012

Ron Paul Captures 2nd Place In N.H. Primary

As expected, GOP presidential candidate Mitt Romney won the New Hampshire primary. Texas Rep. Ron Paul clinched second place — ahead of former Utah Governor Jon Huntsman. Paul told a crowd of supporters that he was nibbling at the heels of the front-runner.

Planet Money
4:50 am
Fri December 30, 2011

Coconut Water Companies Sell Image, Not Taste

Credit godutchbaby / Flickr

A couple of years ago if you wanted to drink coconut water, you had to buy your own coconut, bring it to your kitchen, and start whacking away with a knife.

Today, you can find packaged coconut water in a convenience store, Wal-Mart or your friendly neighborhood yoga studio.

"I think it was a great year for coconut water, " says Alejandra Simon, an assistant manager at the Laughing Lotus yoga studio in New York City. "I can't walk down the street without seeing someone with coconut water in their hands."

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Planet Money
4:28 pm
Wed November 23, 2011

Boom Town, U.S.A.

Credit Robert Smith / NPR
Brandi and Kaylee plan to open a truck repair shop when they graduate from high school.

In the small-town of Elko, ambition looks like high-heel suede booties on the floor of the auto shop at the local high school.

Brandi and Kaylee look like the Olsen twins. And they're the best auto-shop students at Elko High. The girls have a plan. Everyday out the school window, they see trucks heading up to the gold mines. Day and night. So, the girls figure, why not open a truck repair shop after they graduate?

"In Elko we've been really blessed and really lucky to actually have a good economy," Kaylee says. "We can actually have our hopes and dreams."

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Planet Money
5:10 am
Thu November 3, 2011

When Governments Pay People To Have Babies

Credit Chung Sung-Jun / Getty Images
More, please.

How much is a baby worth?

Let's set aside for a moment all those goo-goo feeelings about that big ball of cute chubba-chubba. A baby is also an economic investment.

Businesses get a new worker and a new consumer for products. Parents get someone who will support them in their old age. Governments get a taxpayer — and a guarantee that the country lives on.

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NPR Story
8:00 am
Sat October 29, 2011

The Income Gap, Explained With Candy Corn

The numbers detailing the income gap between rich and poor can be difficult to grasp, but NPR's Andrea Seabrook and Robert Smith can explain.

Planet Money
4:42 pm
Fri October 28, 2011

Why GDP Is Like GPA

Originally published on Thu May 31, 2012 10:53 am

GDP contains multitudes. Everything we manufacture. Every plumber who fixed a sink, every accountant who carried the one and divided by five — all the goods and services we produced.

It was invented by a guy named Simon Kuznets during the the Great Depression, when everybody wanted to know just how bad things were.

Now the number is put out by Steve Landefeld at the government's Bureau of Economic Analysis.

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Planet Money
12:01 am
Fri October 14, 2011

Playing Chicken To Cut The Deficit

Credit Alex Wong / Getty Images

U.S. Rep. Dave Camp (R-MI) speaks as Rep. Chris Van Hollen (D-MD) and Rep. Jim Clyburn (D-SC) listen during a hearing before the Joint Deficit Reduction Committee, also known as the supercommittee.

Originally published on Sun October 16, 2011 1:38 pm

If you've ever thought that most of politics is game-playing, you're right. Political scientists often use mathematical game theory to describe how Congress works. And when they look at the current battle over how to handle the deficit, the game that comes to mind is chicken.

Steven Smith is a professor of political science at Washington University, and he says yes, Republicans and Democrats sometimes remind him of two cars driving as fast as they can toward a cliff.

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Middle East
3:00 pm
Sun October 9, 2011

At Least 19 Dead In Egypt Riots

Clashes between Coptic Christian protesters and the Egyptian military in Cairo on Sunday left at least 19 people dead and more than 100 wounded, according to official counts. The violence erupted after the Christians were marching to protest what they claim was an attack on a church in southern Egypt by radical Muslims.

Around the Nation
4:44 pm
Sat October 8, 2011

It's A Bloody Business, Being A Demon

It's October, which means the country's supply of fake cobwebs is getting dangerously low.

The reason, of course, are the commercial haunted houses opening for business, filling the night with the screams of terrified teenage girls.

Wait. That's actually me — at Blood Manor in New York City. From the name, you would never guess it's on the second floor of a downtown office building. It probably used to be a hedge fund.

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