The Next Global Crisis: Public Finance
After 2008’s banking crisis, the recession in 2009, perhaps the next phase of global economic turmoil will come from public finances. The problem is especially acute in top-heavy Europe.
Budget deficits, the depreciation of the Euro currency and high unemployment rates make the public finance situation in Europe especially difficult to control. "Spain recently had its rating downgraded by moody’s rating agency and Greece was downgraded deeper into junk status. Whilst perhaps the best approach would be that of a discriminating view on the continent, the complication is the use of a common currency. This takes away the flexibility in terms of what can be done to address some of the problems. Because of the use of the Euro as the common currency, the countries can no longer finance by printing money for instance or devaluing their currencies for competitiveness purposes."
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Do you have a magnetic compass in your head?
Turns out pushups are more telling than treadmill tests when it comes to cardiovascular health.
- Men who can perform 40 pushups in one minute are 96 percent less likely to have cardiovascular disease than those who do less than 10.
- The Harvard study focused on over 1,100 firefighters with a median age of 39.
- The exact results might not be applicable to men of other age groups or to women, researchers warn.
On Thursday, New Zealand moved to ban an array of semi-automatic guns and firearms components following a mass shooting that killed 50 people.
- Gun control supporters are pointing to the ban as an example of swift, decisive action that the U.S. desperately needs.
- Others note the inherent differences between the two nations, arguing that it is a good thing that it is relatively hard to pass such legislation in such a short timeframe.
- The ban will surely shape future conversations about gun control in the U.S.
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