Why Collapse Occurs; Why It May Not Be Far Away
Collapse is a frightening subject. The question of why collapse occurs is something I have pieced together over many years of study from a number of different sources, which I Continue Reading
US jobless claims rise to 861,000 as layoffs stay high
The number of Americans applying for unemployment aid rose last week to 861,000, evidence that layoffs remain painfully high despite a steady drop in the number of confirmed viral infections. Continue Reading
The COVID-19 Pandemic Has Upended Global Energy Investment Trends
The pandemic has not broken but intensified global energy trends that emerged on the eve of COVID-19, whether it be the collapse of coal-fired power generation, the growing surplus of Continue Reading
Fed officials say U.S. economy still in depths of recession, more relief needed
The U.S. economy is still deep in a recession and more fiscal relief will be needed to reach a full recovery and help some of the unemployed find jobs, two Continue Reading
CBO projects 4.6% growth in Biden’s first year, jobs lag
The U.S. economy is projected to grow at a robust 4.6% annual rate this year, but employment isn’t expected to return to pre-pandemic levels until 2024, the Congressional Budget Office Continue Reading
European Central Bank faces gloomier picture for economy
The European Central Bank is looking at a darkening picture for the economy as infections and deaths surge. With more than a trillion euros of pandemic stimulus still in the Continue Reading
Charting the Global Economy: Economic Pain Lingering Into 2021
The economic distress of the Covid-19 pandemic is picking up where it left off at the end of 2020. The latest high-frequency data show activity in the advanced economies softened in Continue Reading
The Energy Sector To Watch In 2021
The year 2020 has been unusually volatile for the U.S. financial market, but more so for the energy sector thanks to nationwide lockdowns and subsequent fuel demand destruction. It’s become Continue Reading
Charting the Global Economy: Chill Descends on U.S. Job Market
Resurgent coronavirus infections are putting a chill on U.S. job creation, manufacturing in China is gaining pace and the final stages of Brexit negotiations are complicating the U.K.’s recovery prospects. Here Continue Reading
G20 leaders urged to provide funds for COVID-19 vaccines, drugs, tests
G20 leaders must help close a funding gap to buy vaccines, drugs and tests to combat the COVID-19 pandemic, a letter from South Africa’s president, Norway’s prime minister, and the Continue Reading
IMF, G-20 Warn Recovery May Be Derailed, Risks Still Very High
Leaders of the global economy are warning that the recovery from this year’s recession is at risk and could be derailed as the resurgence of Covid-19 forces fresh restrictions on Continue Reading
Heinberg: A simple way to understand what’s happening … and what to do
The world seems to be coming apart at the seams. It’s critical to understand why, so that we can avoid the worst and find the best responses so as to Continue Reading
Cambridge study finds globalized economy making water, energy and land insecurity worse
The first large-scale study of the risks that countries face from dependence on water, energy and land resources has found that globalization may be decreasing, rather than increasing, the security Continue Reading
Fear of Job Loss Haunts Half of World’s Workers as Crisis Rages
More than half of workers around the world are worried about losing their jobs, according to a survey measuring labor-market insecurity wreaked by the coronavirus crisis. The poll of 12,430 people for the Continue Reading
Big Banks Could Lose Billions In The Global Energy Transition
JP Morgan pledged to help clients align their business with Paris Agreement emission targets. HSBC announced up to $1 trillion in green energy funding. An investor group worth $20 trillion Continue Reading
IMF Meets With Global Economy in Historic Recession:
The guardians of the global economy will gather this week under the cloud of the worst recession since the Great Depression, and a recovery dependent on scientists finding a coronavirus vaccine. The Continue Reading
Amid COVID, many businesses in precarious spot as 2020 ends
The final three months of the year, usually a boom time for many small businesses thanks to holiday shopping and celebrations, looks precarious as the coronavirus maintains its grip on Continue Reading
Rich nations tighten firehose of aid as virus outlasts early efforts
If Round One of the coronavirus relief effort was the economic equivalent of “shock and awe,” new plans being developed by the world’s biggest economies for more assistance to businesses Continue Reading
Coronavirus: Hundreds of thousands of airline jobs at risk, warns industry body
The IATA downgraded its forecasts after “a dismal end to the summer travel season” Hundreds of thousands of aviation jobs are at risk without more state aid, a global industry Continue Reading
Retirements, layoffs, labor force flight may leave scars on U.S economy
Judith Ramirez received a letter this month that she’d been dreading: The Honolulu hotel that furloughed her from a housekeeping job in March, during the lockdown triggered by the coronavirus Continue Reading
Global Economic Recovery Shows Signs of Slowing
LONDON—The global economy is bouncing back strongly from the collapse it suffered in the spring, but fresh data suggest the early gains from the lifting of coronavirus lockdowns are already Continue Reading
Hopes of US stimulus deal fade after strong jobs report
Hopes of Congress and the White House reaching a deal on further economic stimulus have faded, as an unexpectedly steep drop in the jobless rate has stifled appetite among Republicans Continue Reading
As virus rages, US economy struggles to sustain a recovery
Home sales are booming. Stocks are setting record highs. Industrial production is clambering out of the ditch it fell into early this year. And yet the U.S. economy is nowhere Continue Reading
U.S. economy plunged an annualized 31.7% in second quarter
The U.S. economy shrank at an alarming annual rate of 31.7% during the April-June quarter as it struggled under the weight of the viral pandemic, the government estimated Thursday. It Continue Reading
US initial jobless claims hovers around the 1m mark
New US jobless claims hovered near 1m last week, although the overall number of Americans collecting unemployment benefits fell as more businesses rehire workers. Initial applications for unemployment aid totalled a Continue Reading
Orders for big-ticket US manufactured goods jumped 11.2%
Orders to U.S. factories for big-ticket manufactured goods jumped 11.2% in July, the third consecutive monthly gain. And the jump last month was even larger than the 7.7% increase in Continue Reading
Covid Crisis Drives Historic Drop in Global Trade
In recent years, purchasing managers indexes have become important indicators of where the global economy might be heading. But in the current slowdown, where small businesses were some of the Continue Reading
As permanent economic damage piles up, the Covid Crisis is looking more like the Great Recession
Long-term unemployment helped define the Great Recession. Countless networks, relationships and skills that bound employee to employer were ripped apart in the global financial crisis. It took about eight years Continue Reading
The U.S. Dollar Is Losing Its Position As A Reserve Currency
In the past, President Trump has never hidden his disdain for the Fed and its hawkish policies, repeatedly drumming up the fact that the central bank’s interest hike regime was Continue Reading
S&P 500 Sets First Record Since February, Erasing Its Coronavirus Plunge
The S&P 500 closed at its highest level ever Tuesday, capping a remarkable rebound fueled by unprecedented government stimulus and optimism among investors about the world’s ability to manage the Continue Reading
Weekly Unemployment Claims on Track for 21 Weeks Above 1 Million
More than 50 million Americans have filed for unemployment since the start of the pandemic, overwhelming some states. WSJ visits an unemployment processing event in Ardmore, Okla., to hear from Continue Reading
Britain plunges into deep recession, with steep job losses and Europe’s highest virus death toll
The official numbers were published Wednesday, and they are officially ugly. The British economy has plunged into a record-shattering recession, shrinking by a fifth in the second quarter and posting Continue Reading
U.S. producer prices rebound in July; trend remains weak amid fragile demand
U.S. producer prices increased by the most in more than 1-1/2 years in July, but the overall trend in producer inflation remained subdued amid signs the economy’s recovery from the Continue Reading
Euro-Area Economy Stages Stronger Rebound With Demand Picking Up – Bloomberg
Businesses in the eurozone saw stronger growth than initially reported in July, with output expanding for the first time since coronavirus lockdowns hit the economy in March. Services providers and manufacturers Continue Reading
Charting the Global Economy: GDP Report Cards Are Out and Awful –
Report cards on the massive economic toll of the coronavirus were issued in the U.S. and Europe this week and they were downright abysmal. The U.S., Germany, France, Spain and Italy Continue Reading
Global, U.S. Economy and Coronavirus: Latest News and Analysis of Recovery
The virus is the summer house guest from hell. Any remaining hope that the coronavirus that’s pushed the U.S., Europe and much of Asia into historic economic downturns would take a holiday was Continue Reading
U.S. Gets a Debt Warning From Fitch as Stimulus Battle Rages
One of the world’s major credit-rating companies fired a warning shot regarding the U.S.’s worsening public finances on Friday, just as lawmakers in Washington contemplate spending more to combat the Continue Reading
Europe Plunges Into Recession as Economy Suffers Record Contraction
Stringent lockdowns to prevent the spread of Covid-19 weighed heavily on Europe’s economy in the second quarter, causing a record contraction more severe than experienced by the U.S., but analysts Continue Reading
Coronavirus Surge Could Restrain Consumer Spending—and Recovery
U.S. consumer spending likely rose in June but appears to have weakened in recent weeks as coronavirus cases increased, restraining the economic recovery. Americans’ ability and willingness to spend will Continue Reading
U.S. Economy’s Rebound Looks Shakier After Worst Quarter Yet
The full scope of the pandemic’s toll on the U.S. economy was on display Thursday, when government officials reported that gross domestic product shrank the most on record in the second quarter Continue Reading
Covid-19 Virus Plunges Euro-Area Into Recession, Spain Takes Biggest Hit
The euro-area economy plunged into an unprecedented slump in the second quarter, putting it in a deep hole from which it may take years to fully recover. Spain took the biggest Continue Reading
U.S. economy likely suffered historic plunge in second quarter; outlook murky as COVID-19 cases surge
The U.S. economy likely contracted at its steepest pace since the Great Depression in the second quarter as the COVID-19 pandemic destroyed consumer and business spending, potentially wiping out more Continue Reading
Auto industry set to put brakes on central Europe’s COVID-19 recovery
The auto industry, long a driver of economic growth in central Europe, is likely to be one of the main drags on the region’s efforts this year to recover from Continue Reading
German economy shrank 10.1% in second quarter from previous quarter amid coronavirus shutdowns
FRANKFURT, Germany (AP) — German economy shrank 10.1% in second quarter from previous quarter amid coronavirus shutdowns. View full article at apnews.com
U.S. Consumer Confidence Retreats on Diminished Expectations
U.S. consumer confidence declined in July by more than forecast as Americans became rattled by the recent increase in Covid-19 cases and its impact on the economy and the job Continue Reading
Covid’s Next Economic Crisis: Developing-Nation Debt
The world is gearing up for a battle over developing-country debt like few it has seen before. Rich and poor countries are at loggerheads with private investors that, over the Continue Reading
Emerging Economies Face Real Risk of ‘Submerging,’ Tharman Says
Emerging economies could see the gains they’ve made over recent decades unravel, with economic, social and political consequences for the rest of the world, according to a senior Singaporean official. The Continue Reading
Plateau in European activity points to economic headwinds
Parts of the European economy which were hardest-hit by the pandemic are showing signs of recovery but other areas of activity that began to bounce back earlier have leveled off, Continue Reading
Fiscal Cliffs Threaten Fragile U.S. Recovery: Economy Week Ahead
Policymakers in the U.S. will resume contentious talks this week on another round of stimulus that could prove critical to the still-fragile recovery of the world’s largest economy. With much Continue Reading
U.S. Wages Just Jumped the Most Ever. But It’s Horrible News
The median weekly earnings of full-time workers in America jumped more than 10% in the second quarter from a year earlier, the U.S. Bureau of Labor Statistics reported today. The data Continue Reading