WASHINGTON — President Trump has spent the past several weeks dismissing concerns about any economic effects from the coronavirus and insisting that American companies and consumers are in no danger.
The overture sets up tense negotiations with Congress, just weeks after the president was impeached by House Democrats and less than a year from Election Day. Democrats remain deeply critical of Mr. Trump's efforts to contain the virus and have suggested, at least for now, that they will move cautiously to help bail out the president's handling of the crisis.
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UAFS professors develop 'game' to better understand economics - Talk Business & Politics
Economics is not an easy subject for most people to understand. The concepts of market formation, industrial organization and behavioral implications of market structure are difficult for the average adult to grasp. For a student, understanding it all can feel impossible.
Two University of Arkansas at Fort Smith professors have found a way to reach students by presenting entrepreneurship, markets and equilibrium price formation and firm profit in a way they can understand, learn and use. Dr. Dan Settlage and Dr. Jim Wollscheid, professors in the UAFS college of business, developed a flexible economic game that can be implemented in classrooms to help students and teachers in secondary school and at the university level.
The Coronavirus Is an Economic Pandemic, Panicking Markets and Slowing Growth
An oil price war is fueling a broader, global market rout as investors are increasingly panicking over the economic impact of the COVID-19. Meanwhile, yields on long-term U.S. government debt—a port in a storm for nervous investors—fell to all-time lows, a clear indicator of a looming recession that could come more quickly than many experts feared.
Oil prices plunged about 25 percent in New York and London, dragging down stock markets in Europe and Asia. In New York, stocks fell 1,800 points within minutes of the opening bell before trading was briefly suspended, and traded well down the rest of the day, with the Dow Jones Industrial Average finishing down 2013.76 points or nearly 8 percent, the worst single-day drop since the financial crisis of 2008.
Economics in the Time of Covid-19 | VOX, CEPR Policy Portal
The consensus is that the coronavirus outbreak will cause a negative supply shock to the world economy, by forcing factories to shut down and disrupting global supply chains. This column develops a simple model to show that the spread of the virus might cause a demand-driven slump, give rise to a supply-demand doom loop, and open the door to stagnation traps induced by pessimistic animal spirits.
The novel coronavirus is both something old and something new. As usual, the pandemic is both an aggregate demand and an aggregate supply shock, but the fact that it has hit China first and hardest, and the supply chain implications of this, make it something new. This column introduces a new Vox eBook containing 14 essays written by leading economists on a wide array of topics related to COVID-19 economics.
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Global market turmoil - Saudi-Russian price war sends oil and stockmarkets crashing | Finance and
NO ONE KNEW exactly what deal would emerge from Vienna, but an accord seemed certain. Saudi Arabia and Russia, two of the world's oil superpowers, had worked together since 2016 to control output and support prices. With oil demand plunging because of the spread of covid-19, the partnership seemed more important than ever to all producers.
When Russia refused to slash production, the Saudis promptly launched into a price war, offering discounts to customers and announcing an increase in output from next month. Brent crude, the global benchmark, tumbled in price from almost $50 a barrel on March 5th to below $32 on March 9th. The havoc did not stop there.
As coronavirus recession threatens, economists recommend cash for people
The White House is preparing to meet with Wall Street executives to discuss measures to protect the economy from the coronavirus outbreak. But Wall Street is low on the list of responses economists say the government should be considering.
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“Cash giveaways,” suggested Paul Ashworth, chief U.S. economist at independent research firm Capital Economics as a way to boost consumer spending and spark growth.
A dozen facts about the economics of the U.S. health-care system
Local economics professor: Gas prices will continue to drop
HAZARD, Ky. (WYMT) - The DOW plunged more than seven percent on Monday. This is the single largest one-day point-loss in U.S. History.
Growing concerns over the coronavirus and a battle over prices caused a slow down in demand for crude oil. Retired economics professor Richard Crowe explained what he thinks is going on.
"I think what's happening is people are afraid. Afraid of what this virus might do in terms of closing down jobs," said Crowe.
Happening on Twitter
Things Trump has handled badly just in the past week: 1. A tornado 2. A pandemic 3. Bourgeois WH upgrades 4. Cruis… https://t.co/iSEqp8Cbad RobAnderson2018 (from Louisiana, USA) Mon Mar 09 14:42:23 +0000 2020
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