The downturn could have started sometime around last October, a former Federal Reserve advisor has said
The United States may already be in a “plain vanilla recession,” a former advisor to the Federal Reserve Bank of Dallas, Danielle DiMartino Booth, told CNBC on Monday. The statement comes as world stock markets nosedive over fears the US economy is weakening.
A cyclical or plain vanilla recession is one of the two types of demand-driven recession. These typically follow periods of policy tightening that are aimed at staunching excess demand or inflation problems.
According to DiMartino Booth, CEO and chief strategist for Quill Intelligence, the recession started sometime around last October. She pointed to a weakening job market and increasing Chapter 11 bankruptcy filings. Additionally, she said declining housing prices and increasing apartment supply suggest this trend may continue.
The US economy suffered an unexpected setback in July as hiring fell sharply and the unemployment rate rose for the fourth straight month, with raised interest rates taking a toll on businesses and households... .more below
https://www.rt.com/business/602196-us-economy-recession-unemployment/
US President Donald Trump confirmed on Wednesday the upcoming start of ground strikes against drug cartel targets in Latin America.
He made the remarks during Christmas greetings to the military.
Trump said the United States was "now going after the land" in its fight against drug cartel targets, noting that drug trafficking by sea was down 96 percent.
The U.S. president also extended special congratulations to the crew of the aircraft carrier USS Gerald R. Ford, currently deployed in the Caribbean.
BEIJING (Sputnik) - China has begun operating the world's first intelligent ultra-large oil tanker powered by methanol, the China Central Television (CCTV) reported on Monday.
The tanker, designed to transport crude oil, was successfully put into operation in the city of Dalian in China's northeastern coastal province of Liaoning, the report said. State-owned company Dalian Shipbuilding Industry Co Ltd independently designed and built the vessel, it added.
The tanker is approximately 333 meters (1,092 feet) long and can carry around 2.1 million barrels of crude oil, the CCTV reported. Designed to produce low emissions and having intelligent control capabilities, the tanker will serve the route to the Middle East, among others, according to the report.
The vessel is powered by a dual-fuel methanol engine, which reduces carbon dioxide emissions by 92% compared to conventional fuel, the CCTV reported. It is equipped with an intelligent ship platform, an intelligent liquid cargo ...
A car bomb has killed a senior General Staff member, officials have confirmed
Source: The Investigative Committee
A Russian general has been killed in a car bomb blast in Moscow, the Investigative Committee has reported.
Officials identified the victim as Lt. Gen. Fanil Sarvarov, head of operational training at the General Staff. According to the statement, an explosive device had been planted beneath the vehicle he was traveling in, and detonated on Monday morning in the southern part of the Russian capital.
The blast also damaged several other vehicles and seriously injured Sarvarov’s driver, media reports stated.
Russian officials said one line of investigation is an assassination carried out by Ukrainian intelligence services, noting that Kiev has previously used explosive devices in targeted killings of officials and public figures.
Last December, a bomb hidden in an e-scooter killed Lt. Gen. Igor Kirillov, commander of Russia’s Nuclear, Chemical, and Biological Defense ...
