Recessions and depressions

Bishop William Joensen proceeds down the main aisle at the conclusion of Holy Thursday Mass in a near empty St. Ambrose Cathedral, Thursday, April 9, 2020, in Des Moines, Iowa. COVID-19 causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (AP Photo/Charlie Neibergall)
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April 09, 2020 - 9:39 pm
NEW YORK (AP) — A staggering 16.8 million Americans lost their jobs in just three weeks, a measure of how fast the coronavirus has brought world economies to their knees. Meanwhile, religious leaders worldwide Thursday urged people to celebrate Good Friday and Easter from the safety of their homes...
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German Finance Minister Olaf Scholz abrief the media after Eurogroup negotiations in front of the finance ministry in Berlin, Germany, Wednesday, April 8, 2020. (Michael Kappeler/dpa via AP)
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April 09, 2020 - 6:56 pm
FRANKFURT, Germany (AP) — Governments from the 19 countries that use the euro overcame sharp differences to agree Thursday on measures that could provide more than a half-trillion euros ($550 billion) for companies, workers and health systems to cushion the economic impact of the virus outbreak...
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Senate Majority Leader Mitch McConnell of Ky., right, speaks with a reporter outside the Senate chamber on Capitol Hill in Washington, Thursday, April 9, 2020. Senate Democrats on Thursday stalled President Donald Trump's request for $250 billion to supplement a "paycheck protection" program for businesses crippled by the coronavirus outbreak, demanding protections for minority-owned businesses and money for health care providers and state and local governments. (AP Photo/Patrick Semansky)
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April 09, 2020 - 4:54 pm
WASHINGTON (AP) — The Senate twisted itself into knots Thursday over President Donald Trump’s new coronavirus aid request, as Democrats refused to rubber stamp his proposal for $250 billion more to boost small businesses, demanding modifications along with an additional $250 billion for health care...
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In this photo taken from video provided by the New York Stock Exchange, Chief Security Officer Kevin Fitzgibbons rings the opening bell at the NYSE, while recognizing Randy Timmons in Albany, Ga., and thousands of employees of the Proctor & Gamble Company, Thursday, April 9, 2020. (New York Stock Exchange via AP)
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April 09, 2020 - 4:34 pm
NEW YORK (AP) — Wall Street closed out its best week in 45 years on Thursday after the Federal Reserve launched its latest titanic effort to support the economy through the coronavirus outbreak. The central bank announced programs to provide up to $2.3 trillion in loans to households, local...
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FILE - In this Wednesday, March 18, 2020 file photo, Visitors to the Department of Labor are turned away at the door by personnel due to closures over coronavirus concerns in New York. Americans are seeking unemployment benefits at unprecedented levels due to the coronavirus, but many are finding more frustration than relief. (AP Photo/John Minchillo, File)
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April 09, 2020 - 9:35 am
WASHINGTON (AP) — With a startling 6.6 million people seeking jobless benefits last week, the United States has reached a grim landmark: More than one in 10 workers have lost their jobs in just the past three weeks to the coronavirus outbreak. The figures collectively constitute the largest and...
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A sign advertising for jobs sits along the roadside outside a FedEx location in Zionsville, Ind., Thursday, April 2, 2020. More than 6.6 million Americans applied for unemployment benefits the week of March 23, far exceeding a record high set just last week, a sign that layoffs are accelerating in the midst of the coronavirus. (AP Photo/Michael Conroy)
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April 09, 2020 - 6:52 am
WASHINGTON (AP) — The government is set to report another shocking level of unemployment claims Thursday even after nearly 10 million people applied for benefits in the previous two weeks because of business shutdowns from the coronavirus. The number will likely keep increasing, in part because...
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A man wears a protective mask while waiting for a bus in Detroit, Wednesday, April 8, 2020. Detroit buses will have surgical masks available to riders starting Wednesday, a new precaution the city is taking from the new coronavirus COVID-19. (AP Photo/Paul Sancya)
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April 08, 2020 - 9:19 pm
NEW YORK (AP) — Even as coronavirus deaths mount across Europe and New York, the U.S. and other countries are starting to contemplate an exit strategy and thinking about a staggered and carefully calibrated easing of restrictions designed to curb the scourge. “To end the confinement, we’re not...
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German Economy Minister Peter Altmaier, left, and German Finance Minister and Vice-Chancellor Olaf Scholz arrive to give a press conference on an aid package in response to the COVID-19 coronavirus pandemic, in Berlin, Monday April 6, 2020. Restrictions on civil liberties and social restrictions have been imposed in many countries as the highly contagious COVID-19 coronavirus sweeps the globe. (John Macdougall/Pool via AP)
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April 08, 2020 - 6:10 am
BRUSSELS (AP) — European governments remained at loggerheads Wednesday over measures to help the economy weather the coronavirus outbreak, breaking off a meeting of finance officials who clashed over aid conditions and a proposal to borrow together to pay for the health crisis. Finance ministers...
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President Donald Trump listens during a conference call with banks on efforts to help small businesses during the coronavirus pandemic, at the White House, Tuesday, April 7, 2020, in Washington. (AP Photo/Evan Vucci)
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April 07, 2020 - 5:37 pm
WASHINGTON (AP) — Despite mocking the idea of climate change, President Donald Trump will preside over one of the country’s sharpest drops in climate-damaging emissions on record, as the economic paralysis from the coronavirus tamps down energy use, according to an Energy Department projection on...
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In this image taken from video provided by the New York Stock Exchange, Tommy Gannon, Assistant Supervisor, Facilities, rings the opening bell at the NYSE, and recognizes the Sodexo food services staff at Beth Israel Deaconess Medical Center in Boston, Tuesday, April 7, 2020, in New York. (New York Stock Exchange via AP)
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April 07, 2020 - 5:32 pm
NEW YORK (AP) — A big rally on Wall Street suddenly vanished Tuesday, the latest twist for a market dominated by sharp swings amid the coronavirus outbreak. The S&P 500 dipped 0.2% after erasing a surge of 3.5% earlier in the day. The market’s gains faded as the price of U.S. crude oil abruptly...
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