Word: debts
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...Ireland has changed dramatically during your time in politics. If you go back to the mid-'80s, unemployment was 20%. The debt-GDP ratio was higher than Ethiopia's. Emigration was massive. The new Irish [immigrants] were 1% of the workforce. Before this recession we got to full employment, 7% growth every year. Most of the young Irish that wanted to came back. The working population of the new Irish is now 15%. We've been able to put huge money into infrastructure, to attract foreign direct investment to set up new industries. We brought in legislation decriminalizing...
...investment guru Jim Rogers and Kirby Daley, an outspoken Hong Kong - based financial strategist. Though both Americans, the two appeared to be engaged in a contest to decide who could bash their home country the hardest. Rogers called China "the next great country of the world," while comparing a debt-burdened America to the failed British Empire. Daley lambasted American economic policy as ill conceived and out of touch. Rogers warned his listeners against a declining U.S. dollar; Daley said the U.S. consumer, who has been the world's most important, was spent as an economic force. The severity...
...rising, the U.S. Federal Reserve cannot risk a rate increase anytime soon, despite the danger of inflation. Raising rates would add to the burden on U.S. businesses, particularly small- and medium-size enterprises that account for the majority of U.S. jobs. Higher rates would also make mortgages, credit-card debt and other forms of personal financing more expensive, further crimping consumer spending, which accounts for the bulk...
...such member is Zaur Seyidov, a 19-year-old at Azerbaijan Educational Economic University, who recounts his debt towards the professor...
...this recession isn't an ordinary recession? There is a widespread belief among economists that a secular shift in global spending patterns is under way. U.S. consumers, the usual drivers of economic growth, are reducing their outlays and may do so for years to come as they pay down debt. Under this "new normal" scenario, some of today's spare capacity may never come back into action because total demand will remain depressed indefinitely. Factories in some crowded sectors will have to be permanently closed or retooled to make different products...