The UK is officially in recession - but what does that mean? Warning bells have been sounding for months over the risk of the economy slipping into recession. The rule of thumb is that when the economy shrinks for six months in a row, it's in a recession. But what happe...
With silver in greater abundance relative to gold, abimetallic standardwas adopted in 1792. While the officially adopted silver-to-gold parity ratio of 15:1 accurately reflected the market ratio at the time, after 1793, the value of silver steadily declined, pushing gold out of circulation, acc...
In 1900, President William McKinley signed the Gold Standard Act, which officially tied the value of the U.S. dollar to a specified quantity of gold. The U.S. had been using gold reserves to back its currency, but the Gold Standard Act delineated specifics and made it official policy. ...
The current rate marks a vast improvement from the 22.9% rate in April 2020 which was close to the record unemployment rate of 25.6% set in May 1933. The chart below shows the discrepancy between the unemployment rate (U-3) and the real unemployment rate (U-6) between 1994 and 2021. ...
used promotional campaigns that were based on emotion rather than rational analysis.5These campaigns led to the semi-shocking and unexpected result of the vote—the United Kingdom officially decided to leave the European Union. The financial markets then responded in kind with shock, wildly increasin...
Last year amidst an advertising recession and a reversal of fortune for podcasting, NPR was forced to institute painful layoffs, impacting roughly 10% of its workforce. But in this regard, NPR is not alone – virtually every media outlet from the traditional to startups finds itself at somethi...
Economists have been predicting a downturn and hinting at a recession for a while now, but neither has materialized…yet. “We’re seeing storm clouds,” Vecker says. “I do think portfolios are going to be tested over the next year.” The Monitor 100 will shift. As banks merge, sell ...
Stocks are falling because the Fed has put forward a string of aggressive interest rate hikes in recent months. The policy approach aims to slash price increases by slowing the economy and choking off demand. But the move risks tipping the U.S. into a recession and putting mi...
With more than 40 million people officially living in California, the great weather, beautiful beaches and mountains, Palm Springs must be doing something right. The hurdles to being financially successful in this state are high. California has one of the highest living costs in the US and is ...
As the recession pushed gasoline prices up, the company experienced a decline in sales as consumers looked to other makers for fuel-efficient cars. This situation was made worse by a rise in thecostof raw materials. Bankruptcy Saddled with high levels of debt, GM predicted it would run out ...