Markets Archives - Page 611 of 782

A Major Oil-Led Recession In 2013?: Gail Tverberg

The relationship between oil shocks and global recessions is one that has been strongly established for decades. Since World War II, 10 out of 11 recessions in the U.S. were preceded by a sharp increase in the price of oil, while an increase in gasoline prices is often seen to cause a decrease in consumer spending, leading to an economic decline in the process. Worryingly, global conditions suggest that another oil-led recession may be on the way – one that may prove to be a long-term threat to the global economy.

European Human Rights Court Fines Italy For Overcrowded Prisons

The European Court of Human Rights has given Italy one year to reduce overcrowding in its prisons, reported the Associated Press, after the government failed to pass legislation designed to improve living conditions, despite recognising the problem in 2010.

China To More Than Double Solar-Power Capacity In 2013

China, the world’s largest energy consumer, intends to add an additional 10 gigawatts (GW) of installed solar power capacity to its present energy supply by the end of 2013, said a statement on the National Energy Administration on Tuesday, providing a much needed boost for domestic solar manufacturers, who have suffered heavy losses over the last year due to sliding foreign demand.

The Return Of Abenomics: A New, Old Hope For Japan’s Economy?

The ascent to power of the Democratic Party of Japan marked the end of Japan’s one-party state, dominated by the Liberal Democratic Party since 1955. However, the DPJ was unable to address the challenges Japan faced, was internally unstable, and spent scarce political clout to support a controversial retail sales tax increase – ensuring the subsequent return of the LDP and Shinzo Abe in the 2012 general election. Given a second chance, how will the LDP fare?

Infographic: Highly Educated but Living on Food Stamps

Over the past few years, a tough economy has forced highly educated people to turn to food stamps and other forms of welfare for help. Over 5,000 PhDs are working as janitors, and many more working as waiters, secretaries, attendants, clerks, and telemarketers. In fact, the number of PhDs and Masters Degree holders on welfare more than tripled between 2007 and 2010.

EU and US Inch Closer to Transatlantic Trade Pact

A free-trade agreement between the United States and Europe, elusive for more than a decade, could soon become a reality as reports indicate that U.S. and EU trade commissioners are set to launch trade talks this month, potentially unleashing billions of dollars of new transatlantic business.

The Global Economy’s Dangerous Myopia – Are We Ignoring Future Crises?: Joseph Stiglitz

As global leaders continue to deal with their economies’ immediate problems, long-term issues such as global warming, inequality and poverty are being compromised – with potentially dangerous ramifications. Although today’s crises undoubtedly warrant immediate action, we should be asking whether we are responding in ways that will exacerbate our long-term problems.

US Banks Agree To Pay $8.5 Billion For Foreclosure Abuse

Nearly 3.8 million households in the U.S. will receive a combined settlement of up to $8.5 billion from ten major banks, reported the New York Times, after their home purchase loans were prematurely foreclosed during the height of the financial crisis in 2009-2010.

IMF Chief Economist Admits To Austerity Mistake

IMF and European economists “significantly underestimated” the cost of austerity measures on economies across the eurozone, wrote the fund’s chief economist Oliver Blanchard in a working paper published last week, admitting also that the fund did not fully understand how government austerity efforts would undermine economic growth for countries such as Greece.

Infographic: What Do Americans Spend Their Money On?

The United States economy is worth approximately $15.8 trillion and more than two thirds of that amount is spent on consumption. But how do ordinary Americans spend their money and how has their spending pattern changed over time?

Consumer spending is one of the largest drivers of growth in the United States and its share of total GDP has been rising steadily over the years. But America’s spending habits have changed significantly over the last decades.