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."
These five main food groups are important for your brain's health and likely to boost the production of feel-good chemicals.
We all know eating “healthy” food is good for our physical health and can decrease our risk of developing diabetes, cancer, obesity and heart disease. What is not as well known is that eating healthy food is also good for our mental health and can decrease our risk of depression and anxiety.
Infographics show the classes and anxieties in the supposedly classless U.S. economy.
For those of us who follow politics, we’re used to commentators referring to the President’s low approval rating as a surprise given the U.S.'s “booming” economy. This seeming disconnect, however, should really prompt us to reconsider the measurements by which we assess the health of an economy. With a robust U.S. stock market and GDP and low unemployment figures, it’s easy to see why some think all is well. But looking at real U.S. wages, which have remained stagnant—and have, thus, in effect gone down given rising costs from inflation—a very different picture emerges. For the 1%, the economy is booming. For the rest of us, it’s hard to even know where we stand. A recent study by Porch (a home-improvement company) of blue-collar vs. white-collar workers shows how traditional categories are becoming less distinct—the study references "new-collar" workers, who require technical certifications but not college degrees. And a set of recent infographics from CreditLoan capturing the thoughts of America’s middle class as defined by the Pew Research Center shows how confused we are.
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