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Tag: economic crisis

Canada is facing a historic housing market correction that will eclipse 2008 and 2009, says Canada's largest bank.
‘Historic’ Housing Market Correction en Route, Says Canada’s Largest Bank
An analyst for Canada’s largest bank has warned that a “historic correction” to the housing market not seen in 40 years is imminent, just days after the Bank of Canada deployed an outsized 100 basis...
Sri Lankan Opposition Leader Vows to ‘Listen to the People’
COLOMBO, Sri Lanka (AP) — Sri Lanka’s opposition leader, who is seeking the presidency next week, vowed on July 15 to “listen to the people," many of which are struggling through the island nation’s worst economic...
A "Doomsday" disruption to natural gas by Russia's Gazprom Nord Stream 1 pipeline is closer to happening as a key turbine is still trapped in Canada.
Russia’s Gazprom Warns July 22 European ‘Doomsday’ Is on Track
Russia’s state owned natural gas distributor Gazprom warned on July 13 that finagling by the government of Canada has made the prospect of what some analysts have called a “doomsday scenario” lying ahead for Europe...
Samsung and LG electronics are overstocked heavily as the country is ahead of the field in heading to recession.
South Korea’s Biggest Companies Are Overstocked With Unsellable Inventory
The largest companies in South Korea, home of many of the world’s leading electronics manufacturers, are sitting on a massive pile of inventory they can’t find buyers for as the world enters a recession for...
The trucking industry bubble is popping, shown by the price of used trucks at auction cratering.
Another Bubble Is Popping: Used Semi Truck Auction Prices Are Cratering
Another symptom of a lesser-noticed bubble popping has surfaced: the prices that used semi trucks are garnering at auction are taking a sharp leg down.  Citing Chris Visser, a Senior Analyst at J.D. Power Valuation...
Casinos, sportsbooks, and other gambling venues took $5.31 billion out of the US economy in Q1 2022, the most on record.
Americans Lost More Money Gambling In Q1 2022 Than Ever Before
The U.S. gaming industry posted its most profitable Q1 in history this year, states an industry advocacy website. However, this figure naturally implies that gamblers had their worst Q1 in history, a notable figure considering...
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Sri Lanka in Chaos, Protesters Burn Down the Homes of 38 Politicians, Troops Ordered to ‘Shoot on Sight’
Rage has boiled over in Sri Lanka. Reports have surfaced that protesters have burned down the homes of 38 politicians with at least another 75 being damaged. Meanwhile, according to CNN, the government has ordered...
The economic consequences of COVID pandemic spending and lockdowns are so severe that 1 in 3 retailers could not pay April rent, a survey found.
1 in 3 Retailers Couldn’t Make Rent in April: Study
More than a third (34 percent) of North American retailers could not make ends meet and pay their rent in April due to inflation, gas prices, and supply chain issues. The alarming number of delinquencies...
Russia Turns to Chinese Services as Mastercard, Visa, American Express Cancel the Kremlin
While China’s banks and its homegrown payments system could offer Russia a much-needed respite from crippling Western sanctions, Beijing has been toeing a careful diplomatic line between trying to maintain ties with Moscow in the...
A woman wears a protective mask as she walks past the People's Bank Of China (PBOC) on Financial Street, April 17, 2020 in Beijing, China. China's gross domestic product (GDP) stood at 20.65 trillion yuan (about 2.91 trillion U.S. dollars) in the first quarter of 2020 amid COVID-19 impact, down 6.8 percent year on year, according to data from the National Bureau of Statistics (NBS).
4 Factors to Watch in China’s Latest Economic Stagnation
Given China’s tightened real estate market and the newest spread of COVID-19, quarterly data due to be released on Jan. 17 will likely show a drastic drop in economic growth. Economists' median forecast has placed...
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The Economic Scenario Beijing Fears Most Is Just Around the Corner
News analysis On Dec. 8 through Dec. 10, China held its annual Central Conference on the Economy in Beijing. The meeting is the highest level of economic analysis and decision-making of the Chinese Communist Party...
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Premier Li Keqiang Asks Officials to Avoid Communist-style ‘Bureaucratism’ as China’s Economic Crisis Worsens
News analysis At a recent meeting in Shanghai, China’s number two statesman provided provincial leaders with the latest instructions on economic policy and social development, while indicating the severity of the country’s economic situation.  Speaking...