recession

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Trump: I'm Mulling Tax Cuts, But R-Word Is 'Inappropriate'

The president says he's looking at capital gains and payroll tax cuts

(Newser) - President Donald Trump says his administration is a looking at tax cut proposals but not as a response to a potential recession, the AP reports. "I'm looking at that all the time anyway," he explained. Trump talked about the economy and trade with China during a meeting... More »

What RV Shipments Say About a Possible Recession

They're down 2 years in a row, which happened before last 3 recessions

(Newser) - Last week saw Wall Street's worst day in 2019—and also saw President Trump telling a crowd in New Hampshire that their 401(k)s will be in far worse shape if Democrats take the White House in 2020. "I don't think we're having a recession," Trump... More »

An Inversion Just Happened, as It Did Before 9 Recessions

Treasury yields inverted Wednesday

(Newser) - An economic alarm bell has sounded in the US, sending warnings of a possible recession ahead—and sending the Dow plunging 800 points by the end of the day. Yields on 2-year and 10-year Treasury notes inverted early Wednesday, a market phenomenon that shows investors want more in return for... More »

An 'Ominous Flattening' Could Signal Recession by End of 2019

That's per nearly half of US CFOs in Duke/CFO Global Business Outlook survey

(Newser) - President Trump has been crowing over the past few weeks about the "best" and "greatest" economy "in the history of our country," as well as the "hottest jobs market on planet Earth," but the nation's top financial officers are less optimistic. Almost half... More »

Wall Street Pay Seems to Have Long Forgotten Recession

Average salary for those in the NYC securities industry in NYC: $422,500, highest in a decade

(Newser) - If you've been fretting over how the folks on Wall Street are doing lately, rest easy: The New York state comptroller says they're fine. Better than fine, actually, per Thomas DiNapoli, who notes the average securities-industry salary in New York last year rose 13%, to $422,500 (with... More »

An Awful Anniversary Arrives on Wall Street

It's been 10 years since the collapse of Lehman and the start of the financial crisis

(Newser) - Saturday marks 10 years since the largest bankruptcy in American history, or what CNN calls "the most terrifying moment for business and the US economy since the Great Depression." It might feel like ancient history given today's surging economy. But the scars of Lehman Brothers’ bankruptcy filing... More »

Economists Predict When Next Recession Will Arrive

Most say 2020

(Newser) - When will the US enter its next recession? Economists surveyed by the Wall Street Journal are predicting 2020. We're currently in an economic expansion that started in mid-2009—the second-longest in American history—and 59% of the forecasters surveyed think it is most likely to end in two years... More »

California Now World's 5th Biggest Economy

State's GDP surpasses $2.7 trillion

(Newser) - California's economy has surpassed that of the United Kingdom to become the world's fifth largest, according to new federal data made public Friday, the AP reports. California's gross domestic product rose by $127 billion from 2016 to 2017, surpassing $2.7 trillion, the data says. Meanwhile, the... More »

Recession Officially Over for Median Household Income

It just hit $59K

(Newser) - By at least one measure, the great recession that started in December 2007 was officially recovered from by the time President Obama left office, the New York Times reports. According to Census Bureau figures released Tuesday, the median household income in America in 2016 was $59,039—an increase of... More »

Can You Pass a Basic Test on Finances? Probably Not

The vast majority of Americans answered barely half of the questions correctly

(Newser) - When it comes to finances, Americans are doing generally better than during the recession. But when it comes to financial literacy, the picture is grim. According to a new survey of 27,564 Americans called the National Financial Capability Study that was put out by the FINRA Foundation , roughly two-thirds... More »

Trump Predicts Dire Future for US Economy

GOP candidate sees 'very massive recession' ahead

(Newser) - In a wide-ranging interview this week, Donald Trump said the US economy is headed for disaster—unless, it seems, he takes the reins. He also compared himself to the Lone Ranger and predicted the American people will "be falling asleep" if he becomes president. Among the highlights of his... More »

Bernanke: Wall Street Execs Deserved Jail for Crisis

'It would have been my preference to have more investigations of individual actions'

(Newser) - Former Federal Reserve Chairman Ben Bernanke says some Wall Street executives should have gone to jail for their roles in the financial crisis that gripped the country in 2008 and triggered the Great Recession. Billions of dollars in fines have been levied against major banks and brokerage firms in the... More »

Canada PM: What Recession?

As election looms, Stephen Harper says recession is just a 'label'

(Newser) - Canada has fallen into a recession, dragged down by falling energy prices and economic troubles in China. The world's 11th-biggest economy retreated at an annual pace of 0.5% from April through June after sliding 0.8% in the first three months of the year, meeting the technical definition... More »

More Kids in Poverty Now Than in Recession: Report

And it could have detrimental effects on brain development, researchers say

(Newser) - The Great Recession may be long over, but things didn't pick up for everyone in the years immediately after, especially not for US children: A new report from the nonprofit Annie E. Casey Foundation says that while 18% of American kids lived below the poverty line in 2008, that... More »

Parents Favor Daughters When Times Are Tough

The bias is even stronger when kids approach reproductive age

(Newser) - "Almost all parents say that they don't favor one of their children over another," says the lead author of a new study that shows that sentiment flies out the window when times get tough, because "economic recessions subconsciously lead parents to prefer girls over boys."... More »

What the Recession Was Good for: Our Mental Health

Researchers say it could be result of fewer doc visits or more leisure time

(Newser) - Americans appear to have experienced better mental health during the recent recession than during the years leading up to it. So say researchers out of the University of Maryland who crunched data on depression, anxiety, and psychological disorders in a study published this week in PLoS ONE . The reason remains... More »

Venezuela Bikers Gunned Down for Spare Parts

Motorcycle parts are hot commodity in recession-hit country

(Newser) - Venezuela is running low on motorcycle parts, which is, in turn, likely only making its coffin shortage worse. Motorcycle riders are being gunned down for their bikes as a recession wreaks havoc on the South American country, reports Reuters . "They're killing those of us in the street to... More »

Why America Stopped Loving Golf

It's expensive, hard to play, and seems old-fashioned, analysts say

(Newser) - Like playing golf? Then you're in a shrinking minority in America, where fewer people are willing to play a sport that's seen as time-consuming and expensive, the Washington Post reports. Not only that, its traditionalism seems contrary to today's lifestyle of fitness classes, extreme races, and diddling... More »

Biggest Banks Can Handle 'Severe' Recession: Fed

Reserve's 'stress tests' show 31 banks stronger than ever since 2008 crisis

(Newser) - All of the nation's 31 largest banks are adequately fortified to withstand a severe US and global recession and keep lending, the Federal Reserve said yesterday. Results of the Fed's annual "stress tests" show that as a group, the 31 banks are stronger than at any time... More »

Japan Slides Into Shock Recession

World's 3rd-largest economy shrinking again

(Newser) - Japan's economy unexpectedly slid into recession as housing and business investment declined following a sales tax hike, further clouding the outlook for the global economy. The world's third-largest economy contracted at a 1.6% pace in the July-September quarter, the government said today, contrary to predictions it would... More »

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