User: newstrust Topic: US Economy
Category: Recession
Last updated: Oct 18 2018 23:26 IST RSS 2.0
 
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JPMorgan: There’s a 60 percent chance of a recession in 2020 — just in time for Trump’s reelection 18.10.2018 Raw Story

President Donald Trump loves crowing about the strong economy he’s overseeing — but will that boomerang back on him in just two years? Bloomberg reports that a model used by investment firm JPMorgan to predict economic conditions is now saying there is a 60 percent chance of a recession ...

The post JPMorgan: There’s a 60 percent chance of a recession in 2020 — just in time for Trump’s reelection appeared first on Raw Story.

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Federal Budget Deficit Heads Back Up Under Republican Rule 18.10.2018 Outside the Beltway
Nearly two years into Republican control of Washington, the budget deficit is headed back up.
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Federal deficit jumps 17 percent as tax cuts eat into government revenue 16.10.2018 Minnesota Public Radio: News
The federal deficit ballooned to $779 billion in the fiscal year just ended — a remarkable tide of red ink for a country not mired in recession or war.
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Here are three signs of looming disaster for the Trump economy: Matt Taibbi 15.10.2018 Raw Story

President Donald Trump regularly boasts about the strength of the American economy — but Rolling Stone columnist Matt Taibbi thinks that cracks are starting to form that will soon plunge the United States back into a recession. In his latest column, Taibbi says that three factors — risin...

The post Here are three signs of looming disaster for the Trump economy: Matt Taibbi appeared first on Raw Story.

The economy is crushing it – just like in 2008! 13.10.2018 The Moderate Voice

After the Dow Jones industrials plunged 832 points on Wednesday, Larry Kudlow, President Trump’s chief economic adviser, walked up the White House driveway and proclaimed that there was no cause for concern. Not about the stock market, or turmoil in China’s economy, or American casualties of Trump’s trade fights, or the president’s attempt to bully […]

The post The economy is crushing it – just like in 2008! appeared first on The Moderate Voice.

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The Return of American Socialism 11.10.2018 American Prospect
This article appears in the Fall 2018 issue of The American Prospect magazine. Subscribe here .  In 1960, the young socialist Michael Harrington traveled to Ann Arbor to provide what help he could to the fledgling radical movement at the University of Michigan, and to see if he could recruit some students to the Young People’s Socialist League. He had particularly long talks with the 20-year-old editor of The Michigan Daily (the student newspaper), Tom Hayden. Though the two hit it off, Harrington couldn’t make the sale. “He accepted much of my analysis,” Harrington later was to write, “yet he balked at the socialist idea itself.” Harrington was no slouch at converting progressives to socialism; an unusually high percentage of the members of the Democratic Socialist Organizing Committee (which he founded in 1973) and its successor organization, the Democratic Socialists of America (which he co-founded in 1982) signed up after having been intellectually and emotionally persuaded by one or more Harrington ...
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About that Unit Root Thing 8.10.2018 Outside the Beltway
Back in 2009 there was considerable debate about the efficacy of fiscal stimulus. In particular there was some discussion about the possibility of a “unit root” problem. The “unit root” problem is that the U.S. had invested too much in things like housing and human capital related to the financial industry. The problem is that […]
Presidential Election Is a Fight for Democracy in Brazil 7.10.2018 Truthout.com
The threat of a military dictatorship is surfacing.

The post Presidential Election Is a Fight for Democracy in Brazil appeared first on Truthout.

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Low Unemployment: The Bad News in the Good News 6.10.2018 American Prospect
(AP Photo/Lynne Sladky) A job applicant looks at job listings at a job fair in Sunrise, Florida, on June 21, 2018. The employment report again provided some good news this month. The unemployment rate fell to 3.7 percent, the lowest rate since Nixon was in the White House. The unemployment rate for white women and black teens both hit their lowest levels on record, 2.8 percent and 19.3 percent, respectively. (That 19.3 percent rate is not a typo—it actually is the lowest black teen rate since we started compiling the data in 1972.) As always, we have to recognize that the good news comes against a backdrop of really bad news. The economy is moving in the right direction at a respectable pace, we added a hurricane-depressed 134,000 jobs in September, bringing the average over the last three months to 190,000. But even with this sustained growth, we have a long way to go to make up for the damage from the Great Recession, and even longer to offset the three decades of wage stagnation that preceded it. The ...
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Students Are Paying More at Public Colleges and Getting Less in Return 5.10.2018 Truthout.com
Low-income students and students of color are particularly feeling the squeeze.

The post Students Are Paying More at Public Colleges and Getting Less in Return appeared first on Truthout.

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Jobs Report Disappoints, U-3 Unemployment Number At Lowest Point Since 1969 5.10.2018 Outside the Beltway
September jobs growth fell short of expectations even as the top-line unemployment rate reached a point unseen since 1969.
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Census: 39.7 Million Americans Are Poor 27.9.2018 Truthout.com
According to the US Census Bureau data, 39.7 million people were poor in 2017.

The post Census: 39.7 Million Americans Are Poor appeared first on Truthout.

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Ten Years on, the Crisis of Global Capitalism Never Really Ended 22.9.2018 Truthout.com
The political backlash to the crash of 2008 has only just begun.

The post Ten Years on, the Crisis of Global Capitalism Never Really Ended appeared first on Truthout.

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Central Banks Have Gone Rogue, Putting Us All at Risk 21.9.2018 Truthout.com
Central bankers are now aggressively playing the stock market.

The post Central Banks Have Gone Rogue, Putting Us All at Risk appeared first on Truthout.

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Census: Black, Latino Minnesotans share in broad income gains 13.9.2018 Minnesota Public Radio: News
According to U.S. Census figures, the overall median household income of the state rose to $68,400. Black households experienced a bump in income for the third year in a row to $38,100. Black and Latino households each gained about $4,000 in 2017.
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'Boom Foreshadows Doom': Anniversary Of Lehman's Collapse Reminder Of What May Yet Come 12.9.2018 Crooks Liars
By Anjan V. Thakor , Washington University in St Louis Only a decade has passed since the collapse of Lehman Brothers , and it seems the mortgage crisis and subsequent Great Recession are already ancient history in the minds of many investors, bankers and regulators. All it took was a few short years of low default rates and good loan growth to re-create the kind of heady atmosphere of irrational exuberance that transforms staid bankers into high-wire risk ...
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Fact check: White House's selective reading on economy 11.9.2018 Minnesota Public Radio: Politics
President Trump pitched a wildly off-base claim about economic growth Monday as the White House used selective statistics to build a case that the economy is doing much better than when Barack Obama was in office.
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Trump’s Economy Is on a Path to a Bust 10.9.2018 Truthout.com
The Trump economy transfers more wealth and buying power from American workers to the wealthy 1 percent.

The post Trump’s Economy Is on a Path to a Bust appeared first on Truthout.

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August Jobs Report Slightly Stronger Than Expected 7.9.2018 Outside the Beltway
Jobs growth in August was slightly better than expected, but still nothing overly impressive.
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The Next Crash 4.9.2018 American Prospect
  AP Photo/Richard Drew A screen above the trading floor of the New York Stock Exchange shows an intra-day number for the S&P 500 index September 15 will mark the tenth anniversary of the collapse of  Lehman Brothers  and near meltdown of Wall Street, followed by the Great Recession. Since hitting bottom in 2009, the economy has grown steadily, the stock market has soared, and corporate profits have ballooned. But most Americans are still living in the shadow of the Great Recession. More have jobs, to be sure. But they haven’t seen any rise in their wages, adjusted for inflation. Many are worse off due to the escalating costs of housing, healthcare, and education. And the value of whatever assets they own is  less  than in 2007. Last year, about 40 percent of American families struggled to meet at least one basic need—food, health care, housing, or utilities,  according to an Urban Institute survey.  All of which suggests we’re careening toward the same sort of crash we had in 2008, and possibly as bad ...
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