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NBC News (June 9)

2020/ 06/ 11 by jd in Global News

“Stocks soar despite coronavirus and a recession. It’s time for a reality check, and a crash. Psychological factors are making markets poor gauges of the U.S. economy’s strength. We should wrench our eyeballs from the ticker tape before it’s too late.”

 

Jerusalem Post (June 9)

2020/ 06/ 10 by jd in Global News

“Following “a very steep increase in morbidity” in Israel, “the coronavirus cabinet decided on Monday to freeze nearly all easing of restrictions that were expected in the coming days as the number of active cases continues to climb across the country.”

 

Financial Times (May 9)

2020/ 05/ 11 by jd in Global News

“The grim picture of the US labour market in the midst of a lockdown that has choked economic activity will increase concerns that any rebound from the sudden deep recession could take longer than was expected just a few weeks ago.” With unemployment at 14.7%, “its highest level since the second world war,” any chances of a V-shaped recovery now look remote.

 

New York Times (March 17)

2020/ 03/ 20 by jd in Global News

The U.S. economy is shutting down “as pandemic measures take hold. The fast-spreading virus has put an end to movies, date nights and other economic activity, prompting some economists to call a U.S. recession.” By Monday, “it was clear everywhere that most of the American economy was grinding to an unparalleled halt and would remain that way for months.”

 

CNN (February 17)

2020/ 02/ 19 by jd in Global News

“Japan’s economy is flirting with recession, and the novel coronavirus could push it over the edge.” To some, a recession now looks “inevitable.”

 

Forbes (January 13)

2020/ 01/ 14 by jd in Global News

“Recession fears are back in full force: 97% of CFOs said that an economic downturn has already begun or will begin in 2020—up from 88% who said the same thing last year, according to Deloitte’s latest CFO Signals Survey.”

 

Forbes (October 28)

2019/ 10/ 30 by jd in Global News

“Amid a global slowdown in economic growth that has seen central banks lower interest rates near zero or below in an effort to provide stimulus,” a number of “major economies are on high recession alert.” These include Hong Kong, the U.K., Germany, Italy and China. “Other highly stressed economies around the world include Turkey, Argentina, Iran, Mexico and Brazil.”

 

Chicago Tribune (October 4)

2019/ 10/ 06 by jd in Global News

“The jobs figures carry more weight than usual because worries about the health of the U.S. economy are mounting. Manufacturers have essentially fallen into recession as U.S. businesses have cut spending on industrial machinery, computers and other factory goods. And overseas demand for U.S. exports has fallen sharply as President Donald Trump’s trade conflicts with China and Europe have triggered retaliatory tariffs.”

 

Financial Times (September 13)

2019/ 09/ 15 by jd in Global News

Mario Draghi and the ECB have done their part, but “Germany will wait until it is too late before providing a measurable fiscal stimulus.” This is the optimal “time for Europe to invest in its future,” with low inflation, zero cost of borrowing and fiscal surpluses. “German leaders know this,” but fear alarming “the good burghers of Munich, Hamburg and Frankfurt. Were recession to provoke a full-blown euro-zone crisis, Berlin would of course act…. But do not expect Germany to dispatch the fire brigade before the flames have fully taken hold. What a waste.”

 

Reuters (September 5)

2019/ 09/ 06 by jd in Global News

“The most likely outcome is now that GDP growth will come in below 2.5%, perhaps significantly lower, the worst since the recession of 2008/09. By implication, oil consumption growth is likely to slip below 1% and 1 million bpd, in line with BP’s latest forecast,” but well short of the last two decade’s 1.5% average annual growth rate. “Until the global economy recovers momentum, oil consumption growth is likely to remain well below trend, keeping prices under pressure.”

 

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