Recessions and depressions

In this Friday, Dec. 20, 2019, photo, people visit the Newseum, in Washington. The Newseum will close the Pennsylvania Avenue location on Dec. 31, 2019. It attracted millions of visitors but lacked a solid financial plan to stay afloat. The mission of the Newseum is to increase public understanding of the importance of a free press and the First Amendment. (AP Photo/Jacquelyn Martin)
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December 27, 2019 - 8:44 am
WASHINGTON (AP) — In 2008, the Newseum — a private museum dedicated to exploring modern history as told through the eyes of journalists — opened on prime Washington real estate. Sitting almost equidistant between the White House and the Capitol on Pennsylvania Avenue, the glass-walled building...
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FILE - In this Nov. 14, 2019, file photo a pair of specialists work on the floor of the New York Stock Exchange. Investments around the world were all winners in 2019 as central banks unleashed more stimulus to bolster the global economy against the damage created by President Donald Trump’s trade war. (AP Photo/Richard Drew, File)
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December 26, 2019 - 4:57 pm
NEW YORK (AP) — On January 3, the S&P 500 sank 2.5% when Apple warned of sagging demand for the iPhone, an inauspicious start to 2019 following a 14% drubbing in last year's fourth quarter. On January 4, Federal Reserve Chairman Jay Powell said the central bank would be "patient" with its...
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FILE - This Wednesday, Nov. 24, 2004 file photo shows a selection of holiday season catalogs in Portland, Maine. Catalogs, those glossy paper-and-ink offerings of outdoor apparel, kitchenware and fruit baskets, are not yet headed for the recycling bin of history. (AP Photo/Robert F. Bukaty, File)
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December 21, 2019 - 3:30 pm
PORTLAND, Maine (AP) — Catalogs, those glossy paper-and-ink offerings of outdoor apparel, kitchenware and fruit baskets, are not yet headed for the recycling bin of history. Until recently, the future appeared grim for the mailbox-stuffers. A one-two punch of postal rate increases and the Great...
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FILE - In this Nov. 4, 2019, file photo trader Peter Tuchman, center, works on the floor of the New York Stock Exchange. Markets are coming off a fabulous 2019, where stocks, bonds and other investments climbed in concert. But for the next year, and decade, in fact, Wall Street is telling investors to set their expectations considerably lower. (AP Photo/Richard Drew, File)
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December 19, 2019 - 11:05 am
NEW YORK (AP) — After a year of nirvana, investors may need to get ready for something a little more normal. Markets are coming off a fabulous 2019, where stocks and bonds around the world climbed in concert. But for the next year — and decade, in fact — Wall Street is telling investors to set...
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In this Dec. 13, 2019, photo, Martin Khan of Capital Cafe talks about the effects on his business after he says his store was incorrectly labeled as an anti-protest "blue" shop on online apps in Hong Kong. Protesters in Hong Kong are increasingly using their spending power to punish businesses they deem hostile to their cause. Apps are assigning color-coded labels to stores to help guide consumers. Protest-friendly stores are categorized as yellow. Blue is used to identify shops suspected of opposing protests. Protesters believe that by boycotting supposedly pro-establishment businesses, they can help shift the balance of power and wealth in the semi-autonomous Chinese territory. (AP Photo/Mark Schiefelbein)
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December 16, 2019 - 8:52 pm
HONG KONG (AP) — The Hong Kong protesters formed a line, patiently waiting their turn to buy sweet milk and tea drinks from a store that advertised ardent support for their cause with a banner declaring, “If you set off a nuclear blast, we'll stick by you." For quicker service, they could have...
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In this photo taken Monday, Nov. 25, 2019, Aspen Day-Flynn, right, a hair stylist, stands with her boyfriend Travis Tolin, a tattoo artist, in front of their apartment building in Seattle. The pair were considering a move back to her native Seattle this fall when their landlord in Phoenix helped seal their decision. Overnight, the monthly rent on their 986-square-foot two-bedroom, one-bath house jumped 50 percent, from $1,000 to $1,500 as the owner announced his plans for a major renovation. (AP Photo/Elaine Thompson)
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December 16, 2019 - 1:30 pm
PHOENIX (AP) — Aspen Day-Flynn and her boyfriend, Travis Tolin, were thinking of moving back to her native Washington state this fall when their Phoenix landlord helped give them the push. The monthly rent on their two-bedroom house jumped from $1,000 to $1,500 because the owner planned to renovate...
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Britain's union flag flies from the Victoria Tower at parliament in London, Monday, Dec. 16, 2019. Newly elected lawmakers are convening at parliament Monday following the Dec. 12 general election. (AP Photo/Alberto Pezzali)
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December 16, 2019 - 12:51 pm
LONDON (AP) — Britain's financial sector can withstand large shocks and disruptions, whether from a disorderly Brexit or a deterioration in global trade wars, the Bank of England said Monday. In a set of reports and surveys, the central bank said it found that the country's banks are strong enough...
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December 16, 2019 - 6:48 am
BERLIN (AP) — Germany's economy is likely to remain flat in the current quarter after narrowly avoiding a recession over the summer, according to the country's central bank. The Bundesbank wrote in its monthly report for December issued Monday that “German economic output could stagnate in the...
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FILE - In this Wednesday, Sept. 4, 2019 file photo, incoming President of the European Central Bank Christine Lagarde speaks to the European Parliament's Economic and Monetary Affairs Committee in Brussels. Newly appointed European Central Bank head Christine Lagarde makes her first official assessment Thursday, Dec. 12, 2019 of the mixed bag that is the eurozone economy, which suffers from slowing manufacturing and global trade even as consumer spending helps prop up growth. (AP Photo/Francisco Seco, File)
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December 12, 2019 - 11:30 am
FRANKFURT, Germany (AP) — Christine Lagarde is wasting no time in putting her stamp on the European Central Bank. The bank's new president said at her first news conference Thursday that she will lead a top to bottom review of how the institution sets monetary policy, looking at everything from how...
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FILE - In this April 7, 2016, file photo Federal Reserve chair Janet Yellen, left, and former Federal Reserve chairs Ben Bernanke, center, and Paul Volcker, right, react as they listen to former Fed Chair Alan Greenspan appearing via video conference, during a panel discussion in New York. Volcker, the former Federal Reserve chairman died on Sunday, Dec. 8, 2019, according to his office, He was 92. (AP Photo/Kathy Willens, File)
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December 09, 2019 - 11:58 am
Paul Volcker, who as Federal Reserve chairman in the early 1980s elevated interest rates to historic highs and triggered a recession as the price of quashing double-digit inflation, has died, according to his office. He was 92. Volcker took charge of the Fed in August 1979, when the U.S. economy...
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