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    Common DreamsTo inform. To inspire. To ignite change for the common good.

    recession

    IMF officials on a panel at the group's spring meeting

    'A Very Dark Picture': IMF Warns Trump's Iran War Could Unleash Global Recession

    One expert called the new IMF forecast "extremely concerning for the global economy," noting that "the most dire impacts of our economic situation will be felt by the poor and the vulnerable."

    Brett Wilkins
    Apr 14, 2026

    The International Monetary Fund warned Tuesday that the US-Israeli war on Iran could slow global economic growth, stoke inflation, and increase the possibility of a worldwide recession and energy crisis.

    The illegal war of choice on Iran being waged by US President Donald Trump and the government of fugitive Israeli Prime Minister Benjamin Netanyahu has already had wide-ranging negative impacts on the global economy, from soaring fuel prices caused by the closure of the Strait of Hormuz to supply chain disruptions and financial market volatility.

    Keep ReadingShow Less
    News
    imf
    NYSE Opens Ahead Of Fed's Latest Interest Rate Decision

    How the Iran War Could Lead to a Crash Worse Than 2008

    It’s too late to prevent the inflation of an AI bubble or to advise against a US attack on Tehran. At this point, the most we can do is to hope for a quick end to the war and for some improvisational brilliance among the world’s leaders of government and finance.

    Richard Heinberg
    Mar 21, 2026

    Several commentators have remarked that the United States’ war on Iran carries echoes of 2008. I’ll argue here that a potential financial crash this year could actually be much worse.

    The Global Financial Crisis (GFC) of 2008 was the biggest economic crunch since the Great Depression. Unemployment surged, topping 10% in the US. Global stocks lost trillions of dollars in value. Major brokerage houses collapsed. The US auto industry only survived thanks to enormous government bailouts. How could another crash top that?

    Keep ReadingShow Less
    Opinion
    recession
    Donald Trump waits in the wings.

    When Will the Contented Class Revolt Against Trump?

    When will these contented ones collectively start saying, “Enough is enough” and it’s time to say to Donald Trump, “You’re Fired”?

    Ralph Nader
    Nov 16, 2025

    The reason the famous and prolific Harvard economist, John Kenneth Galbraith, is often referred to as a political economist can be seen in the continuing relevance of his book The Culture of Contentment (1992). His thesis explains in significant part why President Donald Trump’s wrecking of America has not more significantly collapsed his support, now below 39% approval.

    In the US, the contented classes hail from both parties. They are not a majority of the population by any means, given that half of all Americans are “poor” or “near poor.” They are a majority of the politically and economically influential people who support policies that maintain their comfort at the expense of the necessities of the “functional underclass” left behind in poverty. The contented classes include the super rich, of course, but also the managerial, professional, and wealthier working classes. In addition, they vote at a higher percentage than the poor.

    Keep ReadingShow Less
    Opinion
    donald trump
    Congressional Lawmakers Continue Work On Funding Bill After Government Shuts Down

    GOP Ripped for 'Holding US Economy Hostage' as Nearly Half of States Face Recession

    "At a time when costs are rising and tariffs are wreaking havoc on people's pocketbooks, Republicans are doubling down on their agenda of raising healthcare costs on millions of Americans."

    Jake Johnson
    Oct 20, 2025

    US states accounting for roughly a third of the nation's gross domestic product are currently in recession or on the verge of one as the federal government shutdown enters its fourth week, with congressional Republicans and President Donald Trump refusing to support an extension of key healthcare subsidies that are set to lapse at the end of the year.

    A recent analysis by Moody's Analytics chief economist Mark Zandi estimates that 22 states are experiencing an economic downturn or are at serious risk of recession, a nascent crisis fueled by Trump's tariffs, mass deportations, and sweeping attack on the federal workforce—an assault that has intensified since the federal government shut down at the beginning of October.

    Keep ReadingShow Less
    News
    republican party
    AI signage at Mumbai summit.

    'Red Flag': Analysts Sound Major Alarms As AI Bubble Now 'Bigger' Than Subprime

    "I wouldn't touch this stuff now," warned one financial analyst about the AI industry.

    Brad Reed
    Oct 03, 2025

    Several analysts are sounding alarms about the artificial intelligence industry being a major financial bubble that could potentially tip the global economy into a severe recession.

    MarketWatch reported on Friday that the MacroStrategy Partnership, an independent research firm, has published a new note claiming that the bubble generated by AI is now 17 times larger than the dot-com bubble in the late 1990s, and four times bigger than the global real-estate bubble that crashed the economy in 2008.

    Keep ReadingShow Less
    News
    artificial intelligence
    'Business Continues to Be Severely Depressed': New Reports Paint Dark Picture of Trump Economy

    'Business Continues to Be Severely Depressed': New Reports Paint Dark Picture of Trump Economy

    "The addition of the derivative steel and aluminum tariffs in the middle of the month... was devastating," said one manufacturing executive.

    Brad Reed
    Oct 01, 2025

    Two reports released Wednesday paint an increasingly dark picture of the American economy under US President Donald Trump, matching predictions that his tax policy and chaotic tariffs would ultimately harm workers and put a drag on the nation's financial outlook.

    First, processing firm ADP estimated in its latest monthly report that the US economy lost 32,000 jobs in September, with contractions in employment happening across multiple industries.

    Keep ReadingShow Less
    News
    recession
    As Trump Recession Looms, New WSJ Poll Backs Call for Democrats to Embrace Economic Populism

    As Trump Recession Looms, New WSJ Poll Backs Call for Democrats to Embrace Economic Populism

    "It feels like it's on the brink, it's on the precipice of this recession," one economist said this week.

    Brad Reed
    Sep 02, 2025

    A new poll from The Wall Street Journal released Tuesday is sparking calls on more Democrats to embrace economic populism, as it shows that Americans are still feeling gloomy about their financial prospects.

    According to the poll, a record-low 25% of Americans now say they have a good chance at improving their standard of living, while almost 70% said they no longer believe that merely working hard is enough to get ahead.

    Keep ReadingShow Less
    News
    recession
    Fed Chair Jerome Powell

    Experts Warn Fed Remarks Show Trump Policies Brewing 'Perfect Storm for a Recession'

    "Donald Trump's tariffs mean you could suffer higher prices and lose your job AT THE SAME TIME," said Sen. Elizabeth Warren.

    Jessica Corbett
    May 07, 2025

    Alex Jacquez from the progressive think tank Groundwork Collaborative issued a stark warning to the U.S. public on Wednesday in response to a statement from the Federal Reserve committee that sets interest rates.

    The new statement from the Federal Open Market Committee (FOMC) "provides further evidence that a perfect storm for a recession is brewing" under U.S. President Donald Trump, said Jacquez, Groundwork's chief of policy and advocacy. "Barely 100 days into Trump's second term, working families are already being crushed by sticky inflation and slowing growth."

    Keep ReadingShow Less
    News
    recession
    People shop at a grocery store.

    Trump’s Budget Breaks His Campaign Promise to Help Those Struggling to Make Ends Meet

    His partial budget fails to propose a serious agenda for the U.S. economy or for people who haven’t been included enough in the country’s overall prosperity.

    Sharon Parrott
    May 03, 2025

    The Trump administration’s partial budget plan released Friday is just its latest repudiation of the Trump campaign’s promises to help people struggling at the margins of the economy—an economy that President Donald Trump’s misguided tariff policies are threatening to tank.

    This partial budget does not discuss the president’s intended tax breaks—tilted to the well off—or policies he will include (like those he supports as part of the reconciliation bill) to take food assistance and health coverage away from people who need them to meet their basic needs and to make college more expensive. The full budget will come later. But while the administration’s partial plan is limited to the part of the budget that Congress funds through the annual appropriations process, its proposal to cut that funding by nearly one-quarter is plenty bad enough, harming people, communities, and the economy.

    Keep ReadingShow Less
    Opinion
    donald trump
    Day Of Action Protests Across The Country Criticize Trump And DOGE Policies

    In First 100 Days, Trump Waged 'Relentless Assault on Working People'

    "We are either patriots fighting the regime, or we are complicit in its tyranny," wrote former U.S. Labor Secretary Robert Reich. "There is no middle ground."

    Jessica Corbett
    Apr 29, 2025

    Tuesday is the 100th day of U.S. President Donald Trump's second term, which so far has featured plummeting public opinion poll numbers and mobilizations against his billionaire inner circle's mounting attacks on working people.

    "Since Franklin D. Roosevelt's earthshaking first 100 days in office, no president has matched the sheer drama and disruption of that 15-week sprint in 1933, which rewrote the relationship between Americans and their government. At least until now," Naftali Bendavid wrote Monday for The Washington Post.

    Keep ReadingShow Less
    News
    donald trump
    See More

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    Trump 'Has Failed Us': US Airman Says He Accepts Cost of Speaking Out Against Iran War

    Economists Blame $40 Trillion Debt Milestone on Two Things: GOP Ineptitude and Tax Cuts for the Rich

    'I've Never Seen This': Massive Collapse in Support for AI Data Centers Captured in New Poll

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    Van Jones Ripped for 'Absolutely Sickening' Remarks About Gaza Baby Starved by Israel

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    Spoiled Rotten Donald Trump Can't Buy His Way Out of the Mess He Made When He Started War With Iran

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