Recessions and depressions

FILE - This April 12, 2018 file photo shows the Odebrecht headquarters in Sao Paulo, Brazil. The Brazilian construction giant filed for bankruptcy protection to restructure $13 billion in debt on Monday, June 17, 2019, worn down after spending five years at the center of one of the world’s largest corruption investigations. (AP Photo/Andre Penner, File)
June 17, 2019 - 8:31 pm
RIO DE JANEIRO (AP) — Brazilian construction giant Odebrecht filed for bankruptcy protection Monday to restructure $13 billion in debt, worn down after spending five years at the center of one of the world's largest corruption investigations. Odebrecht said in a statement that it and its...
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In this photo taken Friday, June 14, 2019, volunteers including Shelley Winship and retired accountant Ralph Nava, left, pick up food packages to deliver to homebound families and dependent children in Santa Fe, N.M., at the headquarters for Kitchen Angels. An annual report on childhood well-being from the Annie E. Casey Foundation ranks New Mexico last among 50 states that includes measures of poverty, health care, education and family support. The number of children living in poverty has swelled over the past three decades in fast-growing, ethnically diverse states such as Texas, Arizona and Nevada as the nation's population center shifts south and west. (AP Photo/Morgan Lee)
June 17, 2019 - 7:17 pm
SANTA FE, N.M. (AP) — The number of children living in poverty has swelled over the past three decades in fast-growing, ethnically diverse states such as Texas, Arizona and Nevada as the nation's population center shifts south and west, a report Monday on childhood well-being shows. The annual Kids...
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FILE - In this May 9, 2019, file photo, molten steel to make steel rods moves through the production line at the Gerdau Ameristeel mill in St. Paul, Minn. On Friday, June 14, the Federal Reserve reports on U.S. industrial production for April. (AP Photo/Jim Mone, File)
June 14, 2019 - 12:23 pm
WASHINGTON (AP) — U.S. industrial production improved in May, but manufacturers showed weakness despite eking out a slight gain. The Federal Reserve said Friday that industrial output, which includes factories, utilities and mines, rose 0.4% in May, after tumbling 0.4% in April. Manufacturing...
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FILE - In this May 9, 2019, file photo, California Gov. Gavin Newsom gestures towards a chart with proposed funding to deal with the state's homelessness as he discusses his revised state budget during a news conference in Sacramento, Calif. California lawmakers are scheduled to vote Thursday, June 13, 2019, on a $214.8 billion operating budget, sending the plan to Gov. Gavin Newsom's desk with a focus on expanding access to health insurance while spending billions of new money on homelessness and housing. (AP Photo/Rich Pedroncelli, File)
June 13, 2019 - 7:32 pm
SACRAMENTO, Calif. (AP) — A $214.8 billion budget approved Thursday by California lawmakers would upgrade the state's aging 911 system following the most devastating wildfire season in state history and help middle class families pay their monthly health insurance premiums. To fund those changes,...
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The bull and bear in front of the stock market are painted all green in Frankfurt, Germany, Monday, June 3, 2019. They were painted on occasion of the upcoming "Green Sauce" week when Frankfurt celebrates its most popular dish. (AP Photo/Michael Probst)
June 06, 2019 - 11:17 am
VILNIUS, Lithuania (AP) — The European Central Bank has taken action to support the economy in the 19-country eurozone, joining other major central banks like the U.S. Federal Reserve in responding to fears about global growth. The ECB said Thursday it would extend the earliest date for an interest...
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A woman shelter by the rain under an umbrella while walks beside a graffiti, in Alsasua, a small town around 50 km (31 miles) from Pamplona, northern Spain, Sunday, May 26, 2019. (AP Photo/Alvaro Barrientos)
June 04, 2019 - 11:29 am
FRANKFURT, Germany (AP) — These days, Europe seems to have two economies, not one. Services companies and consumers are rolling along fairly well. Unemployment is at the lowest in a decade and prices are comfortably under control for shoppers. At the same time, key indicators show that the...
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In this May 7, 2019, photo, the Reserve Bank of Australia building in Sydney. Australia’s central bank has cut its benchmark interest rate by a quarter of a percentage point to a new record low of 1.25 percent in the first rate change in almost three years. (Bianca De Marchi/AAP Image via AP)
June 04, 2019 - 1:13 am
MELBOURNE, Australia (AP) — Australia's central back on cut its benchmark interest rate Tuesday by a quarter of a percentage point to a new record low of 1.25% in the first rate change in almost three years. The change was widely expected after Reserve Bank of Australia Governor Philip Lowe said...
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Mexico's President Andrés Manuel López Obrador says Mexico will not respond to U.S. President Donald Trump's threat of coercive tariffs with desperation, but instead push for dialogue, during his daily morning press conference at the National Palace, in Mexico City, Friday, May 31, 2019. (AP Photo/Ginnette Riquelme)
June 01, 2019 - 12:00 am
CULIACAN, Mexico (AP) — Tomato exporter Sergio Esquer Peiro spent much of Friday in hastily called meetings with other stunned growers, trying to evaluate the potential fallout of U.S. President Donald Trump's threat to slap coercive tariffs on all imports from Mexico. The sudden announcement...
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FILE - In this May 28, 2019, file photo specialist Peter Mazza, left, and trader Stephen Gilmartin work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, May 31. (AP Photo/Richard Drew, File)
May 31, 2019 - 5:27 pm
Wall Street is no fan of Tariff Man. The stock market stumbled Friday to its first losing month of 2019 in May, primarily due to President Donald Trump's decision to broadly wield his tariff powers, first against China over trade and then against Mexico over immigration. During stocks' month-long...
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FILE- In this Aug. 24, 2015, file photo specialist Frank Masiello is reflected in his screen on the floor of the New York Stock Exchange. The bond market is getting another whiff of a recession Bonds are supposed to be the boring corner of the finance world, but even high-flying stock investors stop and pay attention when they fall into a particular, concerning pattern. It’s called an “inverted yield curve,” and it happens when investors are willing to accept lower yields for long-term U.S. government bonds than for short-term debt. It’s been a relatively reliable predictor for recessions, and it’s happening again.(AP Photo/Richard Drew, FIle)
May 30, 2019 - 11:02 am
NEW YORK (AP) — The scent of a possible recession is wafting through the bond market again. Bonds are supposed to be the boring corner of the finance world, but even high-flying stock investors stop and pay attention when they fall into a particular, concerning pattern. It's called an "inverted...
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