The Global Financial Crisis (GFC) of 2008 wiped out millions of jobs worldwide. In the U.S., the ground zero for the crisis, companies laid off hundreds of thousands of workers. While the media, politicians, regulators, company executives and others hyped that the economy recovered in 2009, in recent weeks doubts have been raised if there …
The U.S. economy grew tremendously after the Second World War. Most Americans benefited from this prosperity with the middle-class enjoying steady growth in income and was able to afford of many simple luxuries of life such as home, car, education, etc. However there was always pockets of poverty. A few years ago The World Bank …
Continue reading ‘Food Poverty in the U.S. – Then and Now’ »
The political drama for raising the US debt ceiling continues for many days now. From a Bloomberg news report: President Barack Obama, pressing congressional leaders for a multi trillion-dollar agreement in deficit-cutting talks “running out of time,” dismissed a plan that House Republicans will promote as not “serious.” As negotiators near an Aug. 2 deadline …
Japan has the 3rd largest economy after the U.S. and China with a GDP of $5.4 Trillion in 2010. The country has a population of just 126 million and the per capita GDP is high at $39,727 in 2009. However public debt as a percentage of GDP is very high at 194.7% in 2009. Tax …
The U.S. economy was mainly driven in the past few decades by the FIRE (Finance, Insurance and Real Estate) sector. Accordingly these sectors experienced explosive growth and formed a major portion of the overall economy. The banking industry especially evolved into one of the main pillars of the economic growth due to its loose lending …
Continue reading ‘Relative Importance of Banking Sector to the Overall Economy’ »