User: newstrust Topic: US Economy
Category: Recession
Last updated: Sep 25 2020 17:40 IST RSS 2.0
 
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Brianna Keilar Destroys Larry Kudlow, Trump's Economic Lap Dog 25.9.2020 Crooks Liars
Brianna Keilar, like millions of us, have had enough of Larry Kudlow's weasely gaslighting and lies. Unlike millions of us, however, Keilar has a CNN platform on which to chew him up and spit him out, while the rest of us can only watch and cheer her on. After Kudlow tried to completely erase any semblance of 2020 from the minds of reporters , calling their requests for current numbers on the economy "nitpicking," Keilar decided to remind him of all the things he lied about in the year that has definitely happened, 2020. But first, she tore him several new ones for describing the demand for accuracy by reporters ...
Despite aid impasse, Mnuchin sees strong US rebound in Q3 22.9.2020 Raw Story
The United States is set for a strong economic rebound in the third quarter but additional spending is still needed, Treasury Secretary Steven Munchin said on Tuesday. The comments came as Mnunchin testified along with Federal Reserve Chair Jerome Powell before the House Financial Services Committee amid a continuing impasse in Washington over how much […]
What the London ‘Blitz’ reveals about how much pain and tragedy people can handle in 2020 21.9.2020 Raw Story
It’s hard to imagine how 2020 could possibly get worse. “If we lose Betty White,” a friend said on a drive to the Supreme Court to lay flowers. So many Americans have lost friends or family members to COVID-19. Thousands of Americans survived the virus only to desperately needed organ transplants and forever will struggle […]
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Biden leads Trump in new poll — but voters believe incumbent can bring back the economy 19.9.2020 Raw Story
Democratic candidate Joe Biden leads President Donald Trump in a new poll that finds voters still think the incumbent is better qualified to bring back the nation’s anemic economy, which is in recession as the nation struggles to manage the COVID-19 pandemic.An NPR/PBS NewsHour/Marist Poll that surveyed 1,152 adults between Sept. 11 and Sept. 16 […]
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Millions of Children Go Hungry as Mitch McConnell Blocks Stimulus Bill 18.9.2020 Truthout.com
Millions of Children Go Hungry as Mitch McConnell Blocks Stimulus Bill
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By the numbers: A snapshot of Chicago’s economy six months into the pandemic 18.9.2020 Chicago Tribune: Popular
Since the start of the coronavirus pandemic, hundreds of thousands of Chicago-area jobs were lost, consumer spending dropped 43%, and over half of temporary business closures became permanent.
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COVID-19 danger continues to drive joblessness in US, even as unemployment claims fall 17.9.2020 Chicago Tribune: Business
The number of Americans applying for unemployment benefits fell last week to 860,000, a historically high figure that reflects economic damage from the coronavirus outbreak. In Illinois, first-time claims for benefits totaled 23,339 last week, down from 25,478 a week earlier.
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Arnold Schwarzenegger says pandemic ‘opportunity’ for climate 17.9.2020 Raw Story
Former California governor Arnold Schwarzenegger on Thursday said the coronavirus crisis was a “tremendous opportunity” to rebuild devastated economies with clean energy. Speaking virtually at a climate summit that his non-profit organisation holds annually in Austria, the Hollywood star said the pandemic, which has killed almost a million people and caused massive economic downturns worldwide, […]
New Zealand enters recession with largest-ever contraction 17.9.2020 Raw Story
New Zealand officially entered its first recession in almost 10 years on Thursday, with figures from the country’s bureau of statistics showing a record contraction of gross domestic product in the latest quarter.The seasonally adjusted 12.2 percent fall in real GDP in the April-June quarter from the previous three months was the largest quarterly fall […]
Federal Reserve plans to keep interest rates near zero at least through 2023 17.9.2020 Chicago Tribune: Business
Fed Chairman Jerome Powell said the economic outlook still remains highly uncertain and depends heavily on the ability of the U.S. to get control of the pandemic. “A full economic recovery is unlikely until people are confident that it is safe to re-engage in a wide variety of activities,” Powell said.
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Letters to the Editor: America needs to fight climate change like it's World War III 16.9.2020 LA Times: Opinion

Science proves that the intensity, size and duration of California's fires are indisputably linked to climate change. Say it clearly and take action.

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Republicans Think They're Bulletproof 16.9.2020 Crooks Liars
Paul Krugman asks why Republicans, on the verge of an election, aren't trying to solve any of America's problems. One thing that’s clear ... is that Republicans — not just Donald Trump, but his whole party — are acting as if there’s no tomorrow. Or, more precisely, they’re acting as if there’s no next year. ... consider the large (and illegal) indoor rally Trump held Sunday in Nevada. Before the release of Bob Woodward’s new book Rage, you might have argued that Trump doesn’t believe the science and didn’t realize that his event might well sicken and kill many people. But we now know that he’s well aware of the risks, and has been all along. He just doesn’t care. Or consider Trump’s weeks of silence and inaction on the wildfires ravaging Western states. ... those states account for almost 19 percent of the U.S. economy; you might think that he’d care about the damage they’re suffering, which will spill over to the rest of the country. But he clearly ...
Experts: US is experiencing a ‘K-shaped’ recovery that has troubling implications for the future of America’s economy 10.9.2020 Raw Story
During a Sunday appearance on “Fox News Sunday,” Symone Sanders, a senior campaign adviser to Democratic presidential candidate Joe Biden, lamented how recent economic gains were distributed unequally. “It is going well for folks at the top, but for folks who are middle class or below, it’s going down,” Sanders told host Bret Baier. “The question really is, is […]
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It took decades to build Mexico's middle class. The coronavirus could demolish it 6.9.2020 LA Times: Nation

The coronavirus is eroding decades of slow but steady progress in building up Mexico's middle class. Economists say the damage will be long-lasting.

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‘The situation is dire’: As Trump takes victory lap, new jobs report reveals alarming surge in permanent unemployment 5.9.2020 Raw Story
“The pain is nowhere near over for millions of workers and their families across the country.” President Donald Trump on Friday wasted no time taking a victory lap after the Bureau of Labor Statistics announced the U.S. unemployment rate fell to 8.4% in August, but economists warned a closer look at the new economic figures reveals an alarming surge […]
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GOP under fire for offering ’emaciated’ COVID-19 relief plan as record layoffs continue and mass evictions loom 3.9.2020 Raw Story
“After weeks on taxpayer-paid vacation,” said one critic, “the best they could come up with in that time amounts to a band-aid as the economy continues to hemorrhage jobs.” As new Labor Department figures released Thursday morning confirmed mass layoffs continue at an unprecedented rate due to inaction from Congress and the ongoing pandemic, Democratic lawmakers and progressive advocacy […]
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New US unemployment claims fall below 1 million, but layoffs remain elevated 3.9.2020 Chicago Tribune: Business
The number of laid-off Americans applying for unemployment benefits fell to roughly 880,000 last week, a sign of possible improvement but evidence that the viral pandemic keeps forcing many businesses to slash jobs.
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More permanent job losses coming as recession enters its second stage: economists 2.9.2020 Raw Story
Although the American economy has been steadily adding jobs back after the initial shock of the COVID-19 pandemic put tens of millions of people out of work, economists are seeing signs that more permanent job losses are on their way. Axios reports that “economists are warning that the economic downturn caused by the coronavirus pandemic […]
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Australia enters first recession in almost three decades 2.9.2020 Raw Story
Australia has entered its first recession since 1991 after the economy shrank 7 percent in the second quarter, official figures showed Wednesday, as the country reels from the coronavirus pandemic. The Australian Bureau of Statistics said it was the fastest quarterly contraction on record and ends a three-decade run of economic growth that was undented even by […]
Is America Better Off Now? (Commentary in Poetry) 1.9.2020 The Moderate Voice

It is challenging to compare two administrations in matters of the economy. It is especially challenging when comparing eight years of one administration – the Obama administration – that inherited an economy that was experiencing “the worst financial crisis in global history, including the Great Depression,” with nearly four years of the succeeding administration – […]

The post Is America Better Off Now? (Commentary in Poetry) appeared first on The Moderate Voice.

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