The Irish government is negotiating a $110 billion bailout deal with the IMF and EU. Today Ireland unveiled a four-year austerity plan. From an Bloomberg article: “Ireland’s government said it will cut spending by about 20 percent and raise taxes over the next four years as talks on a bailout of the country near conclusion.Welfare …
Continue reading ‘Debt Due over the 20 Years From Ireland, Portugal and Spain’ »
The demand for coal is rising in Asia especially in China and India. As a result, developed countries that have an abundance of coal deposits are increasing their exports to Asia. In addition, mining companies in Australia, U.S. and others are exploring the possibility of opening new mines to take advantage of the growing demand. …
The size of the U.S. economy is about $14 Trillion. Consumer spending accounts for nearly 70% of the economy as U.S. is still a consumer-driven economy. Unlike other countries, the services sector accounts for the most part of economy. The U.S. exports billions of dollars worth of goods and services to other countries. However exports …
Continue reading ‘U.S. Recovery Depends on the Domestic Service Economy and Not on Exports’ »
A recent article in the Financial Times discussed about The Shadow Banking System in the U.S. based on a report by the Federal Reserve Bank of New York. One of the charts in the report depicts the modern day shadow banking system in detail. The author of FT report Gillian Tett notes that the shadow …
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Germany celebrated the 20th anniversary of unification on Oct 3, 2010. Bloomberg BusinessWeek commemorated the event with a special report titled “The Best Merger Ever“. Indeed the unification of the former East Germany with West Germany helped make the country one of the top economies in the world. Today Germany is the most important country …
Continue reading ‘The Largest 50 German Companies by Sales’ »