The U.S. economy is entering the ‘deepest recession on record’

The U.S. economy is entering the ‘deepest recession on record’

The U.S. economy is struggling right now. On Thursday, we learned that initial filings for unemployment insurance totaled a record 6.648 million for the week ending March 28, more than doubling the prior week’s reported total of 3.238 million that had also marked a record high. Distressingly, last week’s data was also revised higher on […]
Coronavirus deaths will far outnumber Trump’s recession deaths

Coronavirus deaths will far outnumber Trump’s recession deaths

President Trump is right: recessions kill people. As with many things, however, he overstates the problem and draws flawed conclusions by misinterpreting the data. Trump is grappling with when to “reopen” the economy amid the coronavirus pandemic, as businesses shut...
Trump is begging for an Election Day recession

Trump is begging for an Election Day recession

Reopen the economy, virus be damned. This is President Trump’s latest pivot as he tries to figure out what it means to be a “wartime president.” Like everybody, Trump is growing impatient as nearly half the country stays home and thousands of businesses shut down. He...
Coronavirus recession to hit over 24 million workers hardest: study

Coronavirus recession to hit over 24 million workers hardest: study

Five industries will be particularly hard hit in the event of a coronavirus-caused recession, according to a new report from the Brookings Institution. And a recession caused by COVID-19 will impact 24.2 million American workers across the country.  Using analysis...
This week in Trumponomics: Recession arrives

This week in Trumponomics: Recession arrives

President Trump spent the week telling everybody what a great job he’s doing leading the fight against coronavirus. Financial markets aren’t buying any of it. Stocks had a miserable week, falling 14% in 5 days, for a total decline of 32% from the peak on February 19....