It’s bad. Businesses are shedding jobs like never before, with 3.3 million Americans filing for unemployment insurance this week. That’s more than four times higher than the worst week for unemployment claims in modern history, 1982. A recession has…
Rick Newman
Columnist, Yahoo Finance; book author
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President Trump steps to a White House podium every day to brag about the terrific job he and his aides are doing to battle the coronavirus outbreak. Some disagree. “The president's being foolish, and I think he is being irresponsible,” Democratic…
Reopen the economy, virus be damned. This is President Trump’s latest pivot as he tries to figure out what it means to be a “wartime president.” Like everybody, Trump is growing impatient as nearly half the country stays home and thousands of…
It’s not a fluke: As the economy goes into freefall over a pandemic President Trump trivialized for weeks, the president’s approval rating is rising, not falling. Gallup’s latest survey finds Trump’s approval rating at 49%, matching his personal…
The terror began with Goldman Sachs predicting a 24% decline in second quarter GDP—on an annualized basis. Then Morgan Stanley raised it to a 30% decline. Now Capital Economics is forecasting a 40% decline in second quarter GDP, annualized. This…
President Trump is trying to bully a virus. A virus is a microscopic organism. It doesn’t have ears enabling it to hear, or emotions allowing it to feel intimidated. The bullying won’t work. But expect Trump to keep insisting he’s going to reopen the…
Airlines, hotels and other firms getting crushed by the coronavirus recession are practically begging for federal bailouts. But not General Motors. The auto giant already got one of those, and it really doesn’t want another. Instead, GM (GM) may help…
President Trump spent the week telling everybody what a great job he’s doing leading the fight against coronavirus. Financial markets aren’t buying any of it. Stocks had a miserable week, falling 14% in 5 days, for a total decline of 32% from the…
We’re in a mess. Millions of Americans are losing their jobs all at once, and many businesses are already struggling to survive widespread shutdowns caused by coronapocalypse. Retirement accounts are taking a beating too, with stocks down nearly 30%…
Underpromise and overdeliver. It’s a tenet of crisis management and basic expectation-setting. President Trump is doing the opposite, offering a much more optimistic—or naïve—outlook on the coronavirus outbreak and its devastating effects than public…
Something unprecedented is coming. Congress has no choice but to hold its nose and approve bailouts for giant companies such as Boeing, Marriott and other hotel companies, all U.S. airlines and perhaps hundreds or thousands of other companies…
The Bernie Sanders revolution is winding down. After three weeks’ of thumping in Democratic primary elections, Sanders is poised to drop out of the race. The Vermont senator would have to win 70% of the vote in remaining elections to overtake former…
The coronavirus outbreak has almost certainly triggered a recession. Probably a deep one, with massive business closures and millions of lost jobs. With luck, it will be short, with a gusher of fiscal stimulus limiting the damage. “Our economy is…
The coronavirus crisis hasn’t generated much unity in Washington, DC, where Democrats and Republicans continue to trade blame for the outbreak and shoot down each other’s ideas. But one idea is already getting some bipartisan support: Sending…
President Trump’s fear of Joe Biden seems well-founded, especially since Biden is now favored to move into the White House in 2021, by some estimates. “With Trump facing an unlikely reelection, this means it is most likely at this point Joe Biden…
The Federal Reserve has fired its bazooka, cutting short-term interest rates almost to zero and enacting other stimulus measures first adopted during the Great Recession in 2008 as the new coronavirus rattles the economy. It’s probably not…
An invisible bug is killing the Trump presidency. With stock markets plunging and coronavirus anxiety spreading, President Trump is following his usual game plan: Blame others. Attack enemies. Deny trouble. Change the subject. It’s failing miserably.…
President Trump learned a dangerous trick during his trade war with China: A few choice words can reassure financial markets and send stocks soaring. Trump has tried to do the same thing amid the coronavirus outbreak, with disastrous results. First,…
The Bernie Sanders revolution hasn’t materialized. Elizabeth Warren is out of the race. Democratic voters say Joe Biden, familiar and unthreatening, is the man they want as their presidential nominee. This means Medicare for all, the huge government…
On Feb. 25, Larry Kudlow, director of the White House’s National Economic Council, suggested it was a good time to buy stocks. “The virus story is not going to last forever,” Kudlow said on CNBC around 2:30 p.m. “To me, if you are an investor out…
