Tag: recession
Is Global Recession Looming?
According to Heiner Flassbeck, former head of UNCTAD, there are many factors pointing to a convergence in a normal cyclical downturn, deepening recession in Europe, complicated by potential hard Brexit–With host Paul Jay Subscribe to…
Germany Shows Signs of Recession – Is the Global Economy Next?
Heiner Flassbeck argues that the China-US trade war is not having as much of an impact on the global economy as many assume. China’s currency is not undervalued, despite its recent devaluation. Rather, the undervalued…
Fed Comes to its Senses, Lowers Interest Rate
After causing almost every recession of the past several decades, the Federal Reserve is lowering interest rates before a recession takes hold. This represents an important shift in the Fed’s policy, says CEPR’s Mark Weisbrot…
$600M Property Tax Overcharge Is Eroding Detroit’s Black Homeownership
African-American homeowners in Detroit don’t just face lingering damage from the 2008 recession. The city is suffering from a foreclosure crisis after overcharging homeowners $600 million in property taxes. CORRECTION: The estimation that Detroit owns…
Detroit’s Land Bank Holds More Trouble for City’s Remaining Homeowners
What happens to the remaining homeowners, their properties, and their neighborhoods in Detroit after the foreclosure crisis created a glut of abandoned, city-owned houses? Director/Video Editor: Will Arenas Audio Engineer: Taylor Hebden Chase Producer: Genevieve…
Stock Market Gyrations Signal Serious Trouble Ahead
Although the connection between the stock market and the general economy is not as close as it used to be, we are overdue for a recession and so the recent stock market upheaval is a…
U.S. Real GDP higher than previously thought, new data shows; no recession in sight
The U.S. Real GDP increased at an annual rate of 2.1% for the second quarter of 2023, according to a revised report released Thursday by the Bureau of Economic Analysis. Julia Pollak, chief economist for…
Could a housing market recession be looming?
The lack of housing supply in the United States is related to the ongoing spikes in interest rates. Mark Hamrick, a senior economic analyst for Bankrate, joins CBS News to explain the mortgage “lock-in effect,”…
