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SHUTDOWN DAY 31: Schools worry they won’t be able to feed kids; White House thinks GDP growth could fall another 0.13 points this week
Schools worry about the fate of lunches amid the record partial government shutdown. A school district in North Carolina is already reducing lunches.
The 5 richest men in the US have a staggering combined wealth of more than $415 billion — otherwise known as more than 2% of America’s GDP...
Jeff Bezos, Bill Gates, Warren Buffett, Mark Zuckerberg, and Larry Page are worth a combined $415 billion. That's equal to about 2% of the USA's $20.66 trillion GDP.
From funding the courts to filing taxes, there are a number of deadlines complicated by the government shutdown.
The warnings are getting starker: Trump’s government shutdown is becoming catastrophic for the economy
Economists' warnings about the effect of the shutdown are only getting louder as the US closes in on a monthlong government closure.
The White House now thinks the shutdown will be twice as bad for the economy than they originally thought
The White House nearly doubled its estimate of weekly GDP losses due to the shutdown to 0.13 points a week as the US economy takes a hit.
Goldman Sachs says the falling stock market has super rich people spending less on yachts, jewellery and private jets
"Equity price moves do have a meaningful effect on the spending of wealthy households," Goldman Sachs economist Daan Struyven says.
Global debt has swelled to $244 trillion, the Institute of International Finance says. Meanwhile, the ratio of debt to GDP worldwide hit a record.
JPMorgan CEO Jamie Dimon said that the federal government shutdown will be a negative for US GDP and the economy.
Germany may have avoided recession in Q4 by just 0.1% because the quarter was one day longer than the previous period
Germany is the fourth-largest economy on the planet and the largest in Europe. So any weakness is concerning.
The government shutdown could cause a disaster for the US economy if Trump follows through on his threat to continue the fight for ‘months’...
The shutdown is hurting the US economy. If the government shutdown drags on through March, the US GDP could go negative, according to one economist.