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Turkey has applied to join BRICS, according to reports. That could be problematic since it’s a member of NATO, which is in a proxy war with BRICS member Russia.

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The Atlanta Fed’s GDPnow measure, which tracks economic data in real time, shows a contraction in the second quarter of 2022 of 2.1%. Following the first quarter’s 1.6% drop, this meets the technical definition of a recession.Continue Reading