Word: gdp
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...York Mercantile Exchange (NYMEX)–the largest coordinated global market for futures trading in commodities–has more than tripled. This major increase in fuel costs has had a seriously detrimental effect on the American economy, causing enormous demand destruction and adversely affecting GDP growth. But despite the passionate advocacy of public figures such as Governor Sarah Palin of Alaska and House Minority Leader John Boehner of Ohio, offshore drilling provides little windfall: drilling will have a minimal, if any, effect on gasoline prices in the near future. According to the New York Times and the Department...
...inevitable flip side was a staggering rise in the current account deficit--basically, the trade deficit plus a few other things. It grew from $114 billion in 1995 to $417 billion in 2000 to a record $788 billion in 2006 before falling to $731 billion, or 5% of GDP, last year. Political discussion of this shortfall usually focuses on trade agreements and exchange rates. But if the U.S. simply stopped borrowing so much--that is, if Washington balanced its budget and restrained financial companies from loading U.S. households with ever more debt--the current account deficit would evaporate...
...cash that Sweden poured into its banks at the time amounted to about 4% of the country's Gross Domestic Product. The comparable share of the U.S. GDP would be about $850 billion, or not much more than what Paulson has recently proposed . But in Sweden's case at least one half of that money, and possibly more, depending on the source, was recouped by subsequent equity sales...
...western firms were taking on more and more. Now, the bargains available in the U.S. afford Japanese banks an opportunity to move beyond their mature home market. Japan's economy is the world's second-largest, but it is plagued by slow growth. Economists say 2% annual average GDP growth is about the best the country can hope for in coming years...
...even with a new face as prime minister, Japan's old problems remain. Aso says he will focus on the country's fragile economy - Japan's budget deficit totals about 170% of GDP, by far the highest among developed economies. Meanwhile, the country's growth is threatened by a global slowdown and slipped into negative territory from April to June 2008. At a press conference on Friday, Aso said that he's proud of the fact that the Japanese economy is relatively sound and that Japan didn't participate in the "money game" that led to the troubles now faced...