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What You Can Do Right Now to Navigate the 2022-2023 Recession

June 15, 2022 Bank of America, Elon Musk, Goldman Sachs Declare a ‘Technical’ and Worsening Recession with Increasing Economic Shocks CEO’s and Banks attending the WEF Predict Long-term Recession Even though many CEO’s think that recession coming in the future, Bank of America has declared that the U.S. has now entered a technical recession, and…

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1970s Oil Crisis

NOVEMBER 1973 – MARCH 1975 (16 months) The 1970s oil crisis really began in 1973. What we see in this crisis is the fact that prices of commodities like oil play a much more vital role in our economy than most think. The world needs so much oil every day to run, and will literally…

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1890s Recession

1893 – 1896 The 1890s recession, also referred to as the panic of 1893, was brought on by the failure of the United States Reading Railroad. The failure prompted European investors to then withdraw their investments, and left the U.S. financial system in a shattered mess. First, the failure of the railroad put many workers…

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What Is The Difference Between Recession And Depression

Economists do remember an old joke that says: A recession is when your neighbor loses his job. And a depression is when you lose your job. What is the difference between the two terms: recession and depression? The distinction between them is not understood very well because there is no clear definition of both the…

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Bank Failure Watch List

The Federal Deposit Insurance Corporation is a United States government corporation created in 1933. It provides deposit insurance which guarantees the safety of checking and savings deposits in member banks, currently up to $100,000 per depositor. The vast number of bank failures in the Great Depression spurred the United States Congress to create an institution…

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Late 1960s Recession

DECEMBER 1969 – NOVEMBER 1970 (11 months) The Late 60s recession, though not nearly as problematic as its predecessor in the early sixties, was characterized once again by unemployment and unhealthy amounts of inflation. The modern economic cycle seems, usually, to bring about smaller “aftershocks” when a notably sized recession comes to an end. The…

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1870s Recession

1873 – 1879 The 1870s recession, also known as the Panic of 1873, was caused primarily by economic problems in Europe. This trouble ignited problems in the U.S., and brought about the failure of the Jay Cooke & Company, which at that time was the largest bank in the United States of America. This helped…

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Federal Reserve Bails Out AIG with 85 Billion Loan

In the U.S. government’s largest single intervention in the private sector and in a measure of the depths of the global financial crisis, the Federal Reserve agreed late Tuesday to lend American International Group Inc. $85 billion to finance the insurance giant’s likely liquidation over the next two years. The loan is expected to prevent…

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U.S. GDP Contracts .03%

The economy suffered its biggest decline since 2001 in the third quarter, ushering in what may be the worst recession in a quarter century and boosting the chances of Barack Obama and his fellow Democrats in next week’s elections. Gross domestic product contracted at a 0.3 percent annual pace, less than forecast, a Commerce Department…

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