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.
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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…
Why the Q1 GDP Recession Report May Still Look Good
Some economic reports still showed pockets of growth until well into March. That won't be the case for the upcoming economic reports for April, May and June.
Texas Regional Manufacturing Activity Slides Deep Into Recession Territory
The latest Dallas Federal Reserve manufacturing report for Texas has atrocious numbers, showing just how bad things are in the region.
How the Recession Has Crushed Even the Mega Millions and Powerball Lotteries
The recession is crushing the lottery along with everything else. Buying a lottery ticket may have become a luxury expense, now that over 26 million American workers have filed for unemployment in the past…
April US Consumer Sentiment Plummets to 50-Year Low on COVID-19 Fears
The University of Michigan Consumer Sentiment Index plunged month over month, the largest drop in nearly 50 years.
March’s 14.4% Drop in Durable Goods Orders Likely to Worsen Ahead
Tthe U.S. Department of Commerce's report on durable goods showed just how bleak the manufacturing of big-ticket items was in March.
German Business Confidence Is Shattered
Businesspeople in German signaled that they have come close to losing all hope for the economy now and in the foreseeable future, based on a widely followed survey. It is another sign that, country…