• Coronavirus may lead to worst global recession since Great Depression: IMF

    Coronavirus may lead to worst global recession since Great Depression: IMF

    The coronavirus pandemic will plunge the global economy into its worst recession since the Great Depression, the International Monetary Fund predicted Tuesday. The fund expects the world economy to contract by 3 percent in 2020 as measures meant to stop the virus freeze economic activity around the world. That’s a much steeper drop than 2009, …
  • IMF: Chinese virus recession may be worse than financial crisis

    IMF: Chinese virus recession may be worse than financial crisis

    The coronavirus pandemic could strike a bigger blow to the global economy than the financial crisis did a decade ago, the International Monetary Fund warned. The IMF expects the economy to enter a “recession at least as bad as during the global financial crisis or worse” this year as the virus spreads around the world, …
  • Can’t we dip into our retirement money at a reduced tax rate?

    Can’t we dip into our retirement money at a reduced tax rate?

    Dear John: I have been following you for over 25 years. Is there any chance the proposal that you wrote in 2004 about dipping into retirement money at a reduced tax rate could now be passed? It would stimulate the economy and generate tax revenue. In my humble opinion, we could be heading into a …
  • Chinese virus has sent US into ‘brutal’ recession, Bank of America warns

    Chinese virus has sent US into ‘brutal’ recession, Bank of America warns

    The US economy has fallen into a recession because of the Chinese virus pandemic that will make for a “brutal” three months ahead, Bank of America warned Thursday. The bank expects the nation’s gross domestic product to plunge a record 12 percent in the second quarter of this year after meager growth of 0.5 percent …
  • Chines virus recession: How bad it could get and what it means

    Chines virus recession: How bad it could get and what it means

    The Chinese virus pandemic may have already thrust the economy into a recession by bringing some of its most vital parts to a screeching halt, experts say. The crisis has caused a swift slowdown in economic activity across the US and the world. Restaurants and bars have scaled back service or closed altogether. Airlines have …