A severe recession has been a long time coming for the advanced countries. A global recession is all but certain after the US Bureau of Economic Research published data indicating that the world’s largest economy contracted by 4% in the first quarter of 2020. The announcement came weeks after China’s economy, the second largest, was shown to have contracted for… Read More »Underneath the Surface of the Coming Recession
Outlining the indications that a recession was building long before COVID-19 entered the scene. The available evidence suggests that, virus or no virus, a global recession was coming, and a big one at that. Well before the emergence of the novel coronavirus there were growing worries in the financial press and various policy circles that a global economic crisis was… Read More »How COVID-19 Did Not Cause the Recession
The fracking boom in the US has frequently been hailed as a remarkable economic achievement for drastically reducing the country’s dependence on foreign energy resources. In fact, it did more than just help the US achieve “energy independence”. By 2013, driven by a sharp rise in oil exports, the US overtook Saudi Arabia and Russia to become the world’s largest… Read More »How Fracking Helped Shape US Foreign Policy