Recession Is Biggest Risk From COVID-19 Pandemic
A new survey from the World Economic Forum highlights the global risks that pose the greatest threats to economic recovery from the COVID-19 outbreak.
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Visits of 200 Million Tourists at Stake in Europe
Europe remains the place where most nations are at risk of losing hundreds of millions of visitors and billions of dollars from tourism.
Germany Dumps Into Recession As GDP Drops 2.2%
Germany’s Federal Statistical Office (Destatis) announced that first-quarter GDP dropped 2.2% as its economy plunged into recession. Notably, COVID-19 could only have affected the latter part of the quarter because its rapid spread in…
Why the 2.98 Million Jobless Claims Report Should Be Ignored
More employees appear to be heading back to work. The weekly jobless numbers are still ghastly compared to the past, but they are becoming less ghastly.
It Wasn’t Just Fed Chairman Powell Tanking the Stock Market
Sometimes the news has an exaggerated impact on the financial markets. Federal Reserve Chairman Jerome Powell provided the exaggeration on Wednesday.
Forget Hyperinflation! Can the Fed Handle the Current Deflation in the Recession?
When the Federal Reserve lowers interest rates to zero at the same time the Treasury has printed trillions of dollars for economic stimulus, many classical economists would throw up a red flag.
From Recession to Depression, Can the US Handle −35% GDP?
If one thing has proven to be true over time, and particularly in a wild 2020, the stock market is not the economy and the economy is not the stock market.
April PMI Falls In Every Nation But China
Global Manufacturing PMI as reported by IHS Markit, dropped to an 11 year low as all nations but China suffered sharp drops in factory activity. China’s improvement was negligible. According to IHS officials who…
ISM Now Shows Both Manufacturing and Non-Manufacturing Deep Into Recession
The Institute for Supply Management has shown a dire picture of the U.S. economy.
CBO Projects US Budget Deficit of $3.7 Trillion in 2020
The Congressional Budget Office is forecasting a decline of 12% in U.S. GDP for the second quarter.
Fed Chairman Powell Basically Commits to Quantitative Easing to Infinity, If Needed
The U.S. economy has already seen its short-term interest rates taken down to zero-percent, and the Federal Reserve has injected trillions of dollars into the economy with asset purchases and other quantitative easing. Fed…
Why −4.8% GDP Will Get Much Worse in This Recession
U.S. gross domestic product saw its steepest contraction since the Great Recession more than a decade ago, and the writing is on the wall that GDP will become much worse in the second quarter.
Italy Credit Rating Slashed Toward Junk
Italy, suffering from one of the highest COVID-19 death rates in the world, crushing sovereign debt and a collapsing economy, took another blow as rating agency Fitch cut its credit rating to just above…
How Quickly Americans Expect to Resume Their Lives After COVID-19
As U.S. cities and states begin to relax stay-at-home orders, the real test of how quickly the country's economy can recover depends on how willing people are to resume their normal activities. That may…
Will $6 Trillion in Global Quantitative Easing Be Enough to Beat the 2020 Recession?
Now that the U.S. Federal Reserve has committed to yet another round of massive asset purchases, it’s important to understand just how much quantitative easing there is in the world. On top of the…