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U.S. Banking Crisis Accelerates: FDIC Bank Closures Well Ahead of Last Year
The FDIC once again did its Friday Night below-the-radar exercise; shutting down insolvent banks while Americans and their news media were in low gear or distracted. This time, five more banks were...
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Global Economic Crisis Is Now A Depression: Paul Krugman
Nobel Prize winning economist Paul Krugman, in his recent column, has declared that the crisis in the global economy is now a depression. Since the onset of the global economic crisis, policymakers...
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U.S. Unemployment Rate Continues To Fall-As Discouraged Workers “Disappear”
he latest numbers from the Bureau of Labor Statistics indicate that the United States supposedly “created” 115,00 jobs in April. Not even President Obama’s supporters are cheering loudly over this...
View ArticleTrump Global Trade War Could Bring Economic Catastrophe
The core supporters of President Donald Trump maintain that despite the at times troublesome tweets and verbal coarseness, this is trivial compared to the tangible economic results achieved during the...
View ArticleGlobal Economy In Free Fall At Worse Rate Than Beginning of Global Financial...
The imposed shutdown of much of the world’s economy, all being done in a frantic effort to contain the rapidly spreading coronavirus, has set the stage for possibly the worst contraction in economic...
View ArticleEconomist Nouriel Roubini Warns Emerging Global Economic Crisis Will Be...
Perhaps the most insightful economist to watch as the Global Economic Crisis unleashed by the Covid-19 pandemic rages is Nouriel Roubini, economics professor at New York University. In the months...
View ArticleU.S. Job Market Implodes As More Than Three Million File For Unemployment,...
The U.S. Labor Department released its worst weekly jobs report, demonstrating that the Covid-19 pandemic has unleashed a full-fledged global economic crisis more severe than the financial crisis of...
View ArticleLeading Economist Predicts Great Depression in the 1920s; COVID-19 Pandemic...
In a startling forecast published in Project Syndicate entitled, “The Coming Greater Depression of the 1920s,” NYU economics professor Nouriel Roubini outlines ten negative trends that ensure the...
View ArticleU.S. Economy in Freefall As Jobless Claims Exceed 30 Million and GDP Plummets
The U.S. Bureau of Economic Analysis released its report on GDP growth for Q 1 of 2020. The numbers were dismal, negative 4.8 percent. Though this was the worst decline experienced by the American...
View ArticleUK Economy in Freefall Collapse Due to Coronavirus Pandemic
Official data just released reveals that the United Kingdom has experienced its worst recession since quarterly economic output reports were first tabulated in1955. In Q2 of 2020 the UK’s GDP...
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