Tag: Recession

Democrats seek progressive overhaul of the U.S. financial system

Now in control of Congress, Democrats are looking to give the U.S. financial system a progressive overhaul, incoming Senate Banking Chairman Sherrod Brown said Friday. It will be a tall task. What we’re hearing: “This committee in the past has…

So far so good: MYEFO budget update shows recovery gathering pace

Outside of Victoria the number of hours worked has almost returned to where it was – nowhere near where it would have been, but almost where it was. Employment figures released as Treasurer Josh Frydenberg was unveiling the mid-year budget…

Australia’s credit rating is irrelevant. Ignore it

Australia guards its AAA credit rating with care. Successive governments from both sides of politics have framed federal budgets with one eye on the economy and the other on what ratings agencies such as Standard and Poor’s will do. Just…

It isn’t right to say we are out of recession, as these six graphs demonstrate

It’d be wrong to say that we are out of recession, although that’s how the graph of Wednesday’s GDP numbers makes it look. Gross domestic product (the measure of everything produced and earned and spent) fell 7% between the March…

OECD gives potentially optimistic outlook for 2021 | DW News

The global output will return to pre-pandemic levels by the end of 2021 after witnessing a sharp 4.2% decline this year, the Organization for Economic Co-operation and Development (OECD) said in its economic outlook released on Tuesday.The 37-member OECD projects…

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46. The big picture: Hsieh was known for his unique approach to management,…

A Handsomely Illustrated New Book Uncovers New York City’s Lost and Hidden Gems of Public Art—See Images Here

It’s been a tough year for New York museums. But even without cultural institutions, there is free world-class art to see all over the city, as writer and curator Lori Zimmer shows in her new book, Art Hiding in New York:…

Not just hot air: turning Sydney’s wastewater into green gas could be a climate boon

Biomethane technology is no longer on the backburner in Australia after an announcement this week that gas from Sydney’s Malabar wastewater plant will be used to power up to 24,000 homes. Biomethane, also known as renewable natural gas, is produced…

From here on our recovery will need more than fiscal policy, it’ll need redistribution

From the 1980s right through to the global financial crisis, the standard response in Australia and elsewhere to too weak or too strong an economy has been monetary policy — the manipulation of interest rates by a central bank, in…

So you think economic downturns cost lives? Our findings show they don’t

Throughout the coronavirus recession we’ve been told there’s a balancing act when it comes to lives. On one hand, lockdowns save lives by limiting the spread of coronavirus. On the other, they are said to cost lives by winding back…

Trump slams Paris Climate Accord in his last G20 appearance | G20 Riyadh

Leaders of the world’s wealthiest countries are wrapping up their online G20 summit, hosted by Saudi Arabia in Riyadh. US President Donald Trump defended his environmental record, and justified his decision to pull out of the international Paris climate agreement.…

Bill Gates Explains What Went Wrong with 2020 and It’s Exactly the Lesson We All Need

Bill Gates is in the news a lot lately. Part of that is because he’s a well-known figure who happens to be passionate about public health. Part of it is probably the fact that he previously predicted that we’d face…