Recessions and depressions

House Speaker Nancy Pelosi of Calif., wears a mask as she steps away from the podium at the conclusion of a news conference on Capitol Hill, Thursday, May 14, 2020, in Washington. (AP Photo/Andrew Harnik)
1010 WINS Newsroom
May 16, 2020 - 12:15 am
WASHINGTON (AP) — The unparalleled speed of the collapse of the U.S. economy, forcing more than 36 million Americans out of work, has left an all-too-common political divide, with many Republicans seeing reasons to believe the worst is over while Democrats call for more aid to stave off a possible...
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House Speaker Nancy Pelosi of Calif., arrives for a news conference on Capitol Hill, Thursday, May 14, 2020, in Washington. (AP Photo/Andrew Harnik)
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May 15, 2020 - 7:34 pm
WASHINGTON (AP) — Neither Civil War nor Great Depression nor any other national crisis has pushed the House to allow lawmakers to vote by proxy — without being “present,” as the Constitution requires. That's about to change during the coronavirus pandemic. The House approved Friday a package of...
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A currency trader talks near screens at the foreign exchange dealing room in Seoul, South Korea, Friday, May 15, 2020. Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. (AP Photo/Lee Jin-man)
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May 15, 2020 - 4:48 pm
Stocks capped another wobbly day of trading on Wall Street with modest gains Friday, though the S&P 500 still ended with its biggest weekly loss in nearly two months. The benchmark index rose 0.4% after falling 1.3% earlier in the day as investors weighed more grim data showing how badly the...
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FILE - In this Sept. 18, 2017, file photo, two people sleep on a street in downtown Portland, Ore. Voters in metropolitan Portland will be asked Tuesday, May 19, 2020 to approve taxes on personal income and business profits that would raise $2.5 billion over a decade to fight homelessness even as Oregon grapples with the coronavirus pandemic and its worst recession in decades. (AP Photo/Ted S. Warren, File)
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May 15, 2020 - 4:46 pm
PORTLAND, Ore. (AP) — Voters in metropolitan Portland, Oregon, will be asked Tuesday to approve taxes on personal income and business profits that would raise $2.5 billion over a decade to fight homelessness even as the state grapples with the coronavirus and its worst recession in years. The...
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FILE - In this Wednesday, April 15, 2020, file photo, an Illinois Department of Employment Security office is closed in Chicago. At least a half-dozen states, including Illinois, already have notified the federal government that they could need to borrow billions of dollars to pay unemployment benefits because their own trust funds are running out of money. Though the shortfalls won't prevent unemployed workers from getting government aid, the federal loans could lead to higher taxes for businesses in future years to repay the debt. (AP Photo/Nam Y. Huh, File)
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May 15, 2020 - 11:07 am
WASHINGTON (AP) — U.S. layoffs soared in March to a record 11.4 million after state and local governments closed restaurants, bars, movie theaters and other nonessential businesses in response to the intensifying viral outbreak. The Labor Department also said Friday that job openings plunged, and...
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In this Tuesday, May 5, 2020, photo, Morehouse College senior Lanarion "LTL" Norwood Jr., of Atlanta, works on his computer in a hotel room in Atlanta. Students were sent home from the college amid the new coronavirus outbreak. Norwood learned the campus was shutting down and he was worried about going home to finish his senior year in a neighborhood he describes as "gang-ridden, drug-ridden, all over violence-ridden." Morehouse stepped up with a plan, working to house about 20 students. (AP Photo/Brynn Anderson)
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May 15, 2020 - 11:05 am
NASHVILLE, Tenn. (AP) — Ja’nayla Johnson worked hard in high school with the dream of being the first in her family to graduate from college, but she started to doubt herself as several colleges rejected her. Then Bennett, a small historically black women’s college in North Carolina, saw Johnson’s...
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The sun rises over one of of the main roads in Frankfurt, Germany, Friday, May 15, 2020. (AP Photo/Michael Probst)
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May 15, 2020 - 6:30 am
BERLIN (AP) — The German economy shrank by 2.2% in the first quarter compared with the previous three-month period as shutdowns in the country and beyond started to bite, official data showed Friday. That means Europe's biggest economy went into recession following a small dip at the end of last...
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A currency trader talks near screens at the foreign exchange dealing room in Seoul, South Korea, Friday, May 15, 2020. Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. (AP Photo/Lee Jin-man)
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May 14, 2020 - 11:41 pm
TOKYO (AP) — Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. Japan's benchmark Nikkei 225 edged down nearly 0.2% to 19,881.46 in morning trading. South Korea's Kospi fell 0.3% to 1,...
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FILE - In this Nov. 25, 2019, file photo a sign for TD Ameritrade is shown on an office window for the brokerage in New York. The lure of snapping up stocks at bargain prices has been too strong to pass up for many people, even as uncertainty over the coronavirus pandemic clouds the market and global economic outlook. Stuck at home, but armed with online trading apps, individual investors helped drive the historic comeback for stocks since late March 2020. (AP Photo/Mark Lennihan, File)
1010 WINS Newsroom
May 14, 2020 - 1:06 pm
LOS ANGELES (AP) — The lure of snapping up stocks at bargain prices has been too strong to pass up for many people, even as uncertainty over the coronavirus pandemic clouds the market and global economic outlook. Stuck at home, but armed with online trading apps, individual investors helped drive...
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A woman looks at signs at a store closed due to COVID-19 in Niles, Ill., Wednesday, May 13, 2020. (AP Photo/Nam Y. Huh)
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May 14, 2020 - 11:05 am
WASHINGTON (AP) — Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs even though most states have begun to let some businesses reopen under certain restrictions. The wave of layoffs has heightened concerns that...
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