Category: Economy

Germany’s Economy Shrinks 34.7% — Worse Than U.S.
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Germany’s Economy Shrinks 34.7% — Worse Than U.S.

The German economy suffered a record-breaking economic contraction in the second quarter as measures intended to stymie the coronavirus pandemic shuttered businesses and required consumers to stay home. The economy shrank at an annualized rate of 34.7 percent in the second quarter, worse than the stunning 32.9 percent decline in the U.S. On a nonannualized…

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The U.S. Economy Shrank By Record Shattering 33% Last Quarter
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The U.S. Economy Shrank By Record Shattering 33% Last Quarter

The U.S. economy shrank in the second quarter by the fastest rate since the government began keeping track of gross domestic product after World War II, as lockdowns aimed at curbing the coronavirus pandemic decimated economic activity and anti-police riots tore through many American cities. Gross domestic product, or the value of all goods and…

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Here’s the Stimulus the U.S. Economy Needs to Avoid Disaster
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Here’s the Stimulus the U.S. Economy Needs to Avoid Disaster

Key stimulus measures will expire this month. At least $1 trillion in additional stimulus is needed to support the U.S. economy. Local and state governments need more help. The pandemic shook the U.S economy, as millions of Americans lost their jobs. Businesses across the country have closed as part of a planned shutdown. In March,…

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It’s Time to Admit the Economy Won’t See a V-Shaped Recovery
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It’s Time to Admit the Economy Won’t See a V-Shaped Recovery

Unemployment data this week is anything but promising, suggesting a V-shaped economic recovery is a pipe dream. Continuing jobless claims show people aren’t being rehired. Salary cuts across the board mean even those who have a job have less to spend. U.S. jobless claims fell for a ninth straight week on Thursday, but cheers about…

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Rush: Dems Will Try to Keep Economy Shut Down to Ensure Trump Loses
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Rush: Dems Will Try to Keep Economy Shut Down to Ensure Trump Loses

Tuesday on his nationally syndicated radio show, conservative talker Rush Limbaugh said Democrat Party lawmakers will attempt to squash plans to reopen the economy while the Chinese coronavirus pandemic subsides as part of an effort to sabotage President Donald Trump’s prospects of winning re-election in November. A partial transcript is as follows:  RUSH LIMBAUGH: I’ll tell you…

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U.S. Economy Shrank at 4.8% Pace in First Quarter
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U.S. Economy Shrank at 4.8% Pace in First Quarter

The U.S. economy shrank at a 4.8 percent pace in the first three months of 2020, the worst plunge since 2008. This was the first negative reading for gross domestic product, the broadest measure of goods and services produced by the economy, since 2014. Economists had expected a contraction of 3.7 percent. The report indicates…

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