Economy

Trump’s push to reopen the economy comes as hope for a quick recovery fades

US economy lost a record 20.5 million jobs in April 02:24 Washington (CNN)To staffers inside the White House, it was clear by mid-April the “big bang” economic revival once predicted by President Donald Trump wasn’t in the cards. By April 23, they decided to do something about it. That day during his televised coronavirus briefing, Trump had made his much-maligned suggestion that injections ...

Read More »

The UK economy is heading for its worst crash in 300 years

London (CNN Business)The UK economy is heading for its worst crash in more than 300 years because of the coronavirus pandemic, according to a new forecast from the Bank of England. The central bank said Thursday that the British economy could shrink by 14% this year. That would be the biggest annual contraction since a decline of 15% in 1706, based on ...

Read More »

‘It’s the economy, stupid’ all over again

20 million US jobs just vanished. Here’s what that means 01:14 Julian Zelizer, a CNN political analyst, is a professor of history and public affairs at Princeton University and author of the forthcoming book, “Burning Down the House: Newt Gingrich, the Fall of a Speaker, and the Rise of the New Republican Party.” Follow him on Twitter: @julianzelizer. The views expressed in ...

Read More »

Coronavirus lockdown tips UK economy into biggest slump on record

The UK’s manufacturing and services industries suffered the biggest slump on record this month, according to figures released on Thursday, as a Bank of England policymaker warned Britain’s economy was on course to suffer the deepest recession in several hundred years. Gertjan Vlieghe, a member of the BoE’s interest-rate setting committee, said the UK was heading for a squeeze on ...

Read More »

Government considering radical measures to put economy into hibernation to survive coronavirus

The Federal Government is considering a radical suite of measures to effectively put the economy into hibernation, allowing businesses to emerge after the coronavirus crisis, and resume and rehire without crippling debts. As the Government prepares to unveil its third economic rescue package “within days”, policies are being developed to help business owners see out the crisis without having to ...

Read More »

The economy v our lives? It’s a false choice – and a deeply stupid one

Calls to reopen America have disturbing intellectual roots. And the millions of deaths that could ensue would fuel a depression beyond our imagination Ancient Hebrew texts are peppered with references to and prohibitions against pre-Judaic practices associated with Moloch, a Canaanite god to whom children were sacrificed for the greater good. Now, millennia later, there are prominent voices among us who propose sacrificing the ...

Read More »