Many countries in Europe are struggling with huge deficits. In the past few years Portugal, Ireland, Italy, Greece and Spain (PIIGS) have had severe economic issues with Greece requiring multiple bailouts to avoid a default on its debt. One of the reasons why many of the European countries are suffering with debt problems is that …
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One of the major reasons for the credit crisis of 2008 was US consumers over extending their debt levels. All types of personal debts such as credit card debt, mortgages, auto loans, home equity loans and others reached historical levels before the credit bubble burst. With stagnant rises in wages for years the debt to …
The World Economic Forum has published the Global Risks 2012 report. One of the key takeaways from the report is the graphic below that shows the top global risks this year with their likelihood of occurring and impacts: Click to enlarge It is interesting to note that the risk of “Chronic fiscal imbalances” is ranked …
The following are some interesting facts about the U.S. financial services industry from a research report published by The Financial Services Roundtable. I have included my comments for some of the events. Year Event 1782 Pennsylvania chartered the first bank in the U.S. 1790 The federal government refinanced all federal and state Revolutionary War debt, …
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As the U.S. election campaign picks up momentum one of the favorite topics that will be discussed by politicians from both the parties will be taxes. By default Republicans favor lowering taxes while the Democrats do not. However both parties may be wrong with their beliefs. In general, where does the U.S. stand in terms …
Continue reading ‘Should the U.S. Lower the Corporate and Income Tax Rates ?’ »