Global economic crisis essay

Some economists have been getting their retaliation in first. Chris Giles, chief economist at the Financial Times, argued that vindication or otherwise for the profession will depend on whether crisis materialises after Brexit. But at the same time the Chancellor (backed up by New Labour’s Alastair Darling, the Treasury and the Financial Times) threatened the British people with an intensification of austerity – a punishment budget. One in which public spending would be further slashed and taxes raised – the most punitive and counter-productive economic strategy imaginable. And in doing so, they, and the economists that advised them, affirmed once more their contempt for ordinary voters, and their irrelevance to serious economic analysis.

India and China are the among the world’s fastest growing nations and after Japan, are the largest economies in Asia. From 2007 to 2008 India’s economy grew by a whopping 9%. Much of it is fueled by its domestic market. However, even that has not been enough to shield it from the effect of the global financial crisis, and it is expected that in data will show that by March 2009 that India’s growth will have slowed quickly to % . Although this is a very impressive growth figure even in good times, the speed at which it has dropped—the sharp slowdown—is what is concerning.

A solution for the future global energy problem should be based on the hard reality that global energy demand is likely to be expanded substantially in the short- to medium-term future due to population and economic growth. Only a mix of different means, rather than a single formula, would solve the problem, and the solutions should reflect regional conditions. Renewable energiesRenewable energies are a key element in this solution portfolio. Wind power is already being installed at a growing rate globally and has a large potential in places such as China, India and the US, as well as in Europe.

All this is terrible news for Barack Obama . He has not delivered economic recovery. The US is drowning in negative equity and foreclosed homes. No president since Roosevelt has won an election with unemployment as high as it is today. Fiscal policy will be tightened over the coming months as tax breaks expire and public spending is cut. The Federal Reserve only has the blunt instrument of QE with which to stimulate the economy, and will only be able to deploy it after a softening up process for the markets that will take several months. On top of that, Obama will now be branded as the president who presided over the national humiliation of a debt downgrade. He looks more like Jimmy Carter than FDR.

Global economic crisis essay

global economic crisis essay

All this is terrible news for Barack Obama . He has not delivered economic recovery. The US is drowning in negative equity and foreclosed homes. No president since Roosevelt has won an election with unemployment as high as it is today. Fiscal policy will be tightened over the coming months as tax breaks expire and public spending is cut. The Federal Reserve only has the blunt instrument of QE with which to stimulate the economy, and will only be able to deploy it after a softening up process for the markets that will take several months. On top of that, Obama will now be branded as the president who presided over the national humiliation of a debt downgrade. He looks more like Jimmy Carter than FDR.

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