Vocabulary !!
financial market- A market for the exchange of capital and credit, including the money markets and the capital markets.
gross domestic product- The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.
deficit- The amount by which a government, company, or individual's spending exceeds its income over a particular period of time.
http://www.investorwords.com/1953/financial_market.html
http://www.investorwords.com/2240/Gross_Domestic_Product.html
http://www.investorwords.com/1371/deficit.html
Greece is now facing their second year of a recession and more and more buisnesses have lost their faith and confidence. The causes of this recession include violating rules, cheating on figures, financing consumption, and public and private by huge debts. Things have gotten worse since their prime minister George Papandreou announced that there would be pay cuts and higher taxes on gasoline !! He even warned on national tv that many Greek households would face pain and harder time in the future and that indeed they have. Gree's rising debts have hit the euro along with the European financial markets. A man named Otmar Issing who is a founding member of the European Central thinks that it is a bad idea to 'bail' Greece out and it might encourage the Greeks to stop trying if they see that help is on the way. Many reports say that helping the Greeks would ameliorate the financial markets significantly. They think that without help, Greece will be doomed !! The Europen bond markets should be very cautious in their decision making so that they could not be blackmailed. It is a very low ratio of Greece rejecting the help, but if they do it is described to be committing "economic suicide." EU rules state no nation in the euro bloc should have an annual budget deficit 3% higher of its GDP. Greeks public debt stands at approx. 300bn euros, and the gorvernment plans to decrease to 9.1% (12.7 down from last year) but many think that this will be nearly impossible to pass this budget, since it calls for such huge public spending. I predict that Europe will give in and help 'bail' Greece out of this troubling time. Of course , i believe that they will create some type of negotiation as they will not being doing it solely on the kindness of their hearts. If they are offered this help/aid then I think Greece will take the help otherwise nothing will get solved and and things would probaly get worse especially they are setting such high/ unrealistic standards for their country!! :)
http://news.bbc.co.uk/go/pr/fr/-/2/hi/buisness/8494187.stm
Monday, February 8, 2010
Monday, February 1, 2010
"Latest Stimulus Report Fuels Jobs Pressure"
http://online.wsj.com/article/SB10001424052748703762504575037042612269282.html?mod=WSJ_economy_LeftTopHighlights
macroeconomics-The big picture: analysing economy-wide phenomena such as growth, inflation, and unemployment.
funds-money; or sometimes, money plus assets which could be converted to money.
food stamp- A stamp or coupon, issued by the government to persons with low incomes, that can be redeemed for food at stores.
The recipients of economic-stimulus money said that only 599,108 workers were being paid by the funds in the last quarter of 2009, which was way less than the actual number of jobs that had already been accounted for in the package about seven months ago when the package was first put into work. Of course, this made the recipients enraged so they made reports on an official government site about the $787 billion package and others (opinions) feel that it is not even working. White house press secretary said that they were currently trying to work on a bill for jobs that would cost 100 billion, President Obama is hoping that the Senate can tackle this issue ASAP!! But not to bash them, he addressed in his State of the Union that many would be unemployed had it not been for all the steps they have taken to "build" the economy. Vice President Joe Biden seemed to think otherwise saying that the stimulus package was on track and the number of 599,108 was only a glimpse of whom actually received funds. Mr. Gibbs expressed his point that although we have not created all the jobs we wanted, it is still important that stimulus money or recovery is gained so that all small buisness can regain their confidence and faith again. Stimulus recipients had reported that they had directly "created or saved" 640,329 jobs by Sept. 30, but some people reported saving jobs when they had actually spent the money on pay raises or paying employees who were not in danger of being laid off. In December, the White House Office of Management and Budget decided to enforce this and actually couting salaries instead of guessing ! I think that the stimulus package is not a bad idea, becasue it did create and save jobs. Our unemployment rate will not magically change over night, it will take time and people should understand that. As for those who have abused this opputunity, I am very disgusted that anyone would take away from others. I cannot believe how deceiving our country can be. I think as an result that, over time the stimulus package will come in handy and that more and more job growth will occur which would hopefully be a reult of confident employers hiring new people ! :)
definitions...
http://www.thefreedictionary.com/Food+stamps
wordnetweb.princeton.edu/perl/webwn
http://www.economist.com/research/economics/searchActionTerms.cfm?query=macroeconomics
macroeconomics-The big picture: analysing economy-wide phenomena such as growth, inflation, and unemployment.
funds-money; or sometimes, money plus assets which could be converted to money.
food stamp- A stamp or coupon, issued by the government to persons with low incomes, that can be redeemed for food at stores.
The recipients of economic-stimulus money said that only 599,108 workers were being paid by the funds in the last quarter of 2009, which was way less than the actual number of jobs that had already been accounted for in the package about seven months ago when the package was first put into work. Of course, this made the recipients enraged so they made reports on an official government site about the $787 billion package and others (opinions) feel that it is not even working. White house press secretary said that they were currently trying to work on a bill for jobs that would cost 100 billion, President Obama is hoping that the Senate can tackle this issue ASAP!! But not to bash them, he addressed in his State of the Union that many would be unemployed had it not been for all the steps they have taken to "build" the economy. Vice President Joe Biden seemed to think otherwise saying that the stimulus package was on track and the number of 599,108 was only a glimpse of whom actually received funds. Mr. Gibbs expressed his point that although we have not created all the jobs we wanted, it is still important that stimulus money or recovery is gained so that all small buisness can regain their confidence and faith again. Stimulus recipients had reported that they had directly "created or saved" 640,329 jobs by Sept. 30, but some people reported saving jobs when they had actually spent the money on pay raises or paying employees who were not in danger of being laid off. In December, the White House Office of Management and Budget decided to enforce this and actually couting salaries instead of guessing ! I think that the stimulus package is not a bad idea, becasue it did create and save jobs. Our unemployment rate will not magically change over night, it will take time and people should understand that. As for those who have abused this opputunity, I am very disgusted that anyone would take away from others. I cannot believe how deceiving our country can be. I think as an result that, over time the stimulus package will come in handy and that more and more job growth will occur which would hopefully be a reult of confident employers hiring new people ! :)
definitions...
http://www.thefreedictionary.com/Food+stamps
wordnetweb.princeton.edu/perl/webwn
http://www.economist.com/research/economics/searchActionTerms.cfm?query=macroeconomics
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