Goldman Sachs predicts an increased chance of a US recession in the next 12 months, putting the odds at 35 percent after the turmoil in the banking sector. The forecast by Goldman economists rose 10 percentage points after the historic decline in Silicon Valley Bank earlier this month. The bank’s collapse sent shockwaves through the …
Goldman Sachs sees a 35 percent chance of recession next year Read More »
BUENOS AIRES, Argentina (AP) – Jesica Fernández used to join seven family members every weekend for a big beef barbecue. Beef is no longer on the menu and now they are more likely to eat spaghetti or chicken wings. In beef-loving Argentina, barbecues today only happen on birthdays or special occasions, Fernández said. Fernández, 31, …
Argentinians are struggling to make ends meet amid 100% inflation Read More »
More than half of Americans are pessimistic about the economy in 2023 (iStock) Amid high inflation, many Americans fear the country will slide into a recession this year. About 75% say they worry that one is on the way, according to a survey by Real Estate Witch. And 69% of Americans believe the country is …
Recession fears rise: More than half of Americans say they would lose everything Read More »
As Congress considers raising the debt ceiling again, the nation must realize that, unlike the Biden administration’s swift response to the student debt crisis and the Silicon Valley Bank (SVB) failure, American taxpayers will not receive a bailout from a national debt disaster. Government officials, media pundits and politicians often note the hardships people will …
Student loans, bank bailouts won’t stop a national debt crisis Read More »
BUENOS AIRES, Argentina (AP) – Jesica Fernández used to join seven family members every weekend for a big beef barbecue. Beef is no longer on the menu and now they are more likely to eat spaghetti or chicken wings. In beef-loving Argentina, barbecues today only happen on birthdays or special occasions, Fernández said. Fernández, 31, …
Argentinians are struggling to make ends meet amid 100% inflation Read More »
Image description: A bar chart further shows the impact of healthcare spending on GDP by estimating 2040 GDP in trillions of dollars as part of a healthy growth scenario. Four columns represent countries by their income level, based on the World Bank’s classification of gross national income per capita. inhabitant. From left to right, the …
BUENOS AIRES, Argentina (AP) – Jesica Fernández used to join seven family members every weekend for a big beef barbecue. Beef is no longer on the menu and now they are more likely to eat spaghetti or chicken wings. In beef-loving Argentina, barbecues today only happen on birthdays or special occasions, Fernández said. Fernández, 31, …
Argentinians are struggling to make ends meet amid 100% inflation Read More »
Consumers are still spending like drunken sailors, especially online, now that they no longer have to blow so much gas. By Wolf Richter for WOLF STREET. Retail sales in February fell 0.4% from January’s huge surge to $698 billion, seasonally adjusted, the second-highest on record, just a hair below January, when sales rose 3.2%, followed …
High inflation can also lead to a decline in a currency’s purchasing power. As prices rise, people cannot afford basic goods such as food or housing. This can lead to an increase in poverty as people may not be able to buy the things they need to survive. There are several measures that governments can …
10 African countries with the highest inflation rates in 2023 Read More »
What is a bank? How does a bank work? You’d think these would be obvious and easily answered questions, especially now that everyone with a byline is a five-minute expert on Silicon Valley Bank. (My editors just informed me of that The broadcast was an SVB customer and would like it noted for the sake …
