Recessions and depressions

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, June 3, 2020. Asian shares are rising after Wall Street extended its gains for the third straight day, driven by optimism over economies reopening from shutdowns to stem the coronavirus pandemic. (AP Photo/Ahn Young-joon)
June 03, 2020 - 11:33 am
Stocks are rising again Wednesday on optimism that the economy can climb out of its current hole more quickly than earlier feared. The S&P 500 was up 1.1% in midday trading, heading for its fourth straight gain as lockdowns loosen around the world and raise hopes for a coming economic recovery...
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A waitress wearing a face mask to protect against coronavirus carries out a plate of fish to serve at a seafood restaurant in Marseille, southern France, Tuesday, June 2, 2020. The French way of life resumes Tuesday with most virus-related restrictions easing as the country prepares for the summer holiday season amid the pandemic. (AP Photo/Daniel Cole)
June 03, 2020 - 9:44 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national and global response, the work place and the spread of the virus. ________________________ TESTING THE WATERS: Businesses are starting reopen...
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German Chancellor Angela Merkel, right, and German Finance Minister Olaf Scholz, left, attend the weekly cabinet meeting at the Chancellery in Berlin, Germany, Wednesday, June 3, 2020. (Michael Kappeler/DPA via AP, Pool)
June 03, 2020 - 5:40 am
BERLIN (AP) — Europe's unemployment rate ticked up modestly last month, contained by use of labor programs that have kept millions of workers on payrolls and as some people stopped looking for work, official data showed Wednesday. The jobless rate in the 19 countries that use the euro rose to 7.3%...
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Ryongwang Senior Middle School students have their temperatures checked before entering the school in Pyongyang, North Korea, Wednesday, June 3, 2020. All the schools in the country start their lessons this month after delays over concern about the new coronavirus. (AP Photo/Jon Chol Jin)
June 03, 2020 - 5:07 am
SEOUL, South Korea (AP) — South Korea on Wednesday reported 49 new cases of COVID-19, continuing a weekslong resurgence of the virus as the government defended its decision to reopen schools despite health risks. The figures announced by the Korea Centers for Disease Control and Prevention on...
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FILE - In this March 19, 2020, file photo, a man wearing a mask, left, rides a personal transporter past the Reserve Bank of Australia in Sydney. The coronavirus pandemic pushed Australia’s economy into recession for the first time in 29 years in the first quarter of the year 2022, and the situation is expected to get worse. (AP Photo/Rick Rycroft, File)
June 03, 2020 - 5:04 am
CANBERRA, Australia (AP) — The coronavirus pandemic pushed Australia’s economy into recession for the first time in 29 years in the first quarter of the year, and the situation is expected to get worse. Treasurer Josh Frydenberg said Wednesday the current June quarter will be the second in a row in...
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Police stand guard as protesters rally at the Trump Tower, Monday, June 1, 2020, in Las Vegas, over the death of George Floyd. Floyd, a black man, died after being restrained by Minneapolis police officers on Memorial Day. (AP Photo/John Locher)
The Associated Press
June 01, 2020 - 11:55 pm
WASHINGTON (AP) — Wielding extraordinary federal authority, President Donald Trump threatened the nation’s governors on Monday that he would deploy the military to states if they did not stamp out violent protests over police brutality that have roiled the nation over the past week. His...
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First grade teachers, Ellie Morgan, 25, left, Hannah Sprayberry, 28, right, pose for a portrait, and say they are taking around 5 per-cent pay cut on Thursday, May 28, 2020, in Fort Oglethorpe, Ga. With sharp declines in state spending projected because of the economic fallout from the COVID-19 pandemic, America's more than 13,000 local school systems are wrestling with the likelihood of big budget cuts. (AP Photo/Brynn Anderson)
May 30, 2020 - 7:13 am
ATLANTA (AP) — It was during the Great Recession when Catoosa County first shortened its school year, from 180 to 175 instructional days, as it began years of furloughs due to budget cuts. As a result of the coronavirus pandemic, the next school year will be shorter still, with only 170 classroom...
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In this Thursday, May 28,2020 photo Virginia Binkerhoff stands outside the Just Dandy women's clothing store she owns in downtown Cheyenne, Wyo. The cancellation of this summer's Cheyenne Frontier Days rodeo and cowboy festival due to the coronavirus portends more hard times ahead for businesses struggling in Wyoming's capital city. (AP Photo/Mead Gruver)
May 29, 2020 - 4:55 pm
CHEYENNE, Wyo. (AP) — The Just Dandy women's clothing store in downtown Cheyenne has endured fire, flooding, recessions and so far the coronavirus pandemic, but will this year's cancellation of the city's famous cowboy-and-rodeo festival, Cheyenne Frontier Days, be the daddy-of-'em-all disaster? “I...
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A woman walks into a closing Gordmans store, Thursday, May 28, 2020, in St. Charles, Mo. Stage Stores, which owns Gordmans, is closing all its stores and has filed for Chapter 11 bankruptcy. (AP Photo/Jeff Roberson)
The Associated Press
May 29, 2020 - 10:28 am
WASHINGTON (AP) — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession. Last month's spending decline was far worse than the revised 6.9% drop in March, which itself had...
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A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 29, 2020. Shares fell Friday in Asia after Wall Street’s rally petered out amid worries about flaring U.S.-China tensions. (AP Photo/Eugene Hoshiko)
May 29, 2020 - 10:21 am
Stocks fell in morning trading on Wall Street Friday as investors worry that the U.S. and China could be headed for another confrontation, this time over the autonomy of the former British colony of Hong Kong. The S&P 500 was down 0.5%, adding to losses from a late-afternoon sell-off a day...
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