recession

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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...

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...

Canada PM: What Recession?
 Canada PM: What Recession? 
Sep 2, 2015 1:17 AM CDT

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 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...

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."...

What the Recession Was Good for: Our Mental Health
What the Recession Was Good for: Our Mental Health
NEW STUDY
May 14, 2015 2:39 PM CDT

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...

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...

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...

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...

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...

BofA, Feds Near Biggest Settlement in US History

Justice Dept. deal would cost bank $16B-$17B for foreclosure mess

(Newser) - Bank of America is headed toward the biggest settlement to arise from the 2008 financial crash, a deal with the Justice Department reportedly worth $16 billion to $17 billion over its role in the sale of mortgage-backed securities, a source directly familiar with the matter tells the AP . The tentative...

Record Number Fear Their Kids Will Be Worse Off

76% of adults think next generation will have worse life than them: poll

(Newser) - Americans are riddled with anxiety about financial prospects for their children—and the majority of them are pointing the finger at DC pols for their worries. A Wall Street Journal-NBC News poll of 1,000 adults found that a record 76% of them don't think today's kids will...

US Economy Shrank 2.9%— Worst Since '09

Number much higher than expected

(Newser) - The US economy shrank at a staggering annual rate of 2.9% in the January-March quarter as a harsh winter contributed to the biggest contraction since the depths of the recession five years ago. The Commerce Department says the first-quarter contraction was even more severe than the 1% annual decline...

Great Recession's Toll: 10K Suicides

But greater support reduced deaths, researchers say

(Newser) - The economic despair of the Great Recession led to at least 10,000 extra suicides between 2007 and 2010, according to researchers who say that is a conservative estimate—and many of the deaths could have been prevented. The study of 24 EU countries, the US, and Canada found that...

Recession&#39;s Legacy: Jobs That Suck
Recession's Legacy:
Jobs That Suck
Apr 28, 2014 2:29 AM CDT

Recession's Legacy: Jobs That Suck

Good jobs have been replaced by bad ones, report finds

(Newser) - Employment rates in the US have bounced back to pre-recession levels but most of the jobs that have been created are a lot worse than the jobs that were lost, a report from the National Employment Law Project finds. Around 1 million higher-wage and middle-wage jobs vanished during the downturn...

Krugman: This Looks Like a Permanent Depression
Krugman: This Looks Like
a Permanent Depression
OPINION
Nov 18, 2013 1:40 PM CST

Krugman: This Looks Like a Permanent Depression

Evidence suggests economy may never fully recover

(Newser) - When it comes to the economy, you hear a lot of talk about "exit strategies," with monetary officials resigned to the fact that, for now, "credit must be easy and interest rates low"—just until the US gets back on its feet. "But what if...

Middle Class Was 'Historical Fluke'—and We Let It Die

Edward McClelland thinks government action is necessary to prevent aristocracy

(Newser) - It's a sign of Edward McClelland's age that he remembers the middle class. He grew up in an automaking town in the 1970s, where even high school dropouts could get jobs that would support a family and a mortgage payment. Everyone assumed this was capitalism's triumphant endpoint,...

Recession Sliced Gen Xers' Net Worth in Half

They lost average of $33K each

(Newser) - Bad news for Generation X: It turns out that those born between 1966 and 1975 were hit hardest by the recession in terms of wealth loss, a Pew study finds. Between 2007 and 2010, Gen Xer's net worth was cut almost in half. Members of the generation, now ages...

Household Wealth Hasn't Recovered From Recession

Fed says average household has gotten back only 45% of money lost

(Newser) - The average US household has a long way to go to recover the wealth it lost to the Great Recession, a report by the Federal Reserve Bank of St. Louis concluded today. The typical household has regained less than half its wealth, the analysis found. Household wealth plunged $16 trillion...

Mom's the 'Breadwinner' for 40% of US Families

But in many cases, it's because she's a struggling single parent

(Newser) - You kids had better respect your moms: In a skyrocketing number of American homes, she's the one putting food on the table as stay-at-home moms become things of the past. Women are now the primary or only income source for 40% of US households with kids, according to a...

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