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Duncan Innes

Cuba cuts 500,000 state workers | World news | Guardian Weekly - 0 views

www.guardian.co.uk/...economic-crisis-cuts-paranagua

cuts cuba 500 economics Guardian poverty redundancy privatisation average monthly wage effeincey

shared by Duncan Innes on 12 Jan 11 - No Cached
  • Duncan Innes on 12 Jan 11
     
    Cuba is creating a private sector and making 500,000 state workers redundant
josh mower

BBC News - Could Greece be Europe's Lehman Brothers? - 0 views

www.bbc.co.uk/...business-14818439

bbc.co.uk_mews

shared by josh mower on 16 Sep 11 - No Cached
  • Could Greece be Europe's Lehman Brothers?
  • Three years ago today, US Treasury Secretary Hank Paulson made a momentous decision - to let the investment bank Lehman Brothers fail. The US government had helped to rescue a string of financial institutions, but markets kept pushing more to the wall. Mr Paulson was running out of time and options. There was no political support in Washington to keep throwing money at the problem. Wall Street would just have to learn to bear the consequences of its own folly. Today, many say that it was the wrong decision. The resulting financial meltdown (the stock market plummeted 43%) forced the authorities to do exactly what they had been trying to avoid - commit trillions of dollars to rescue the financial system.
  • Now fast-forward to the present. The "troika" of lenders to Greece - the European Union, International Monetary Fund (IMF) and European Central Bank (ECB) - may soon face a similar moment of reckoning.
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  • The government in Athens has consistently failed to cut its overspending as much as promised, and keeps coming back for more money. The Greeks complain that spending cuts demanded by the troika are killing their economy, which in turn pushes their tax revenues down, stoking the need to borrow yet more.
  • Would they really pull the plug on Greece to make an example of it? Or, with daily protests on the streets of Athens, could Greece itself walk away from the table? And if so, would it trigger another global meltdown?
  • Certainly it would be irrational for Greece to stop playing ball. Cut off from the troika's bailouts, the country cannot borrow. But even if it stopped paying its debts, Greece would still face enormous pain. Last year the government borrowed the equivalent of 10.5% of annual economic output, just to fund general government spending.
  • That overspend would have to stop immediately - far worse austerity than the troika demands. The Greek banks would also collapse, bereft of outside support. Having crossed the Rubicon of unilateral default, many economists believe the Greeks would leave the euro altogether. One reason is the need to devalue its currency to restore competitiveness. "Greece needs to move its exchange rate by at least 30% to have any chance of getting jobs back," says Mr Booth. Another is that the Greek central bank could then fund the government's continued borrowing with freshly-printed drachmas. But inflation would soar, and imports especially would become very expensive
  • That threatened a chain reaction of bankruptcies, which in turn caused a collapse of confidence throughout the financial system.
  • josh mower on 16 Sep 11
     
    If Greece defaults would it lead to another recession?
Duncan Innes

North-south divide widens as public sector cuts hit businesses | Business | The Guardian - 1 views

www.guardian.co.uk/...north-south-divide-widens-cuts

Guardian poverty inequality

shared by Duncan Innes on 10 Nov 11 - No Cached
  • Duncan Innes on 10 Nov 11
     
    regional map of companies in the UK
Duncan Innes

Why some economists fear Osborne's upper cuts will leave Britain out for the count | Bu... - 0 views

www.guardian.co.uk/...-elliott-osborne-spending-cuts

Guardian Macro Economic Policy Interest rates Bulls Bears Growth Quantitative Easing QE2 Economics Monetary policy

shared by Duncan Innes on 18 Oct 10 - No Cached
  • It is this gloomy backdrop which exercises the minds of the third and final group of experts, the bears. For them, the risk is both of a double-dip recession and a long, painful work out from the excesses of the past. Looking at the four main components of demand they would say that consumption is going to be weak so investment will disappoint. Government spending is going to be slashed, leaving a massive burden on exports at a time of slower growth and currency wars. The bears are currently the smallest group. Their numbers are likely to be swelled as winter progresses.
Duncan Innes

US Federal Reserve launches new round of quantitative easing | Business | The Guardian - 0 views

www.guardian.co.uk/...d-round-of-quantitative-easing

Guardian QE2 Quantitative Easing Economics Comodity Prices Stock Market Bernanke Monetary Policy federal reserve us Interest rates

shared by Duncan Innes on 04 Nov 10 - No Cached
  • Duncan Innes on 04 Nov 10
     
    America's central bank announced that it would pump an additional $600bn (£372bn) into the ailing US economy over the next eight months in an attempt to accelerate growth and cut unemployment
Thomas Minney

Poverty Is Poison - New York Times - 0 views

www.nytimes.com/...18krugman.html

poverty africa new york times

shared by Thomas Minney on 16 Dec 10 - No Cached
  • many children growing up in very poor families with low social status experience unhealthy levels of stress hormones, which impair their neural development
  • That’s not surprising. Growing up in poverty puts you at a disadvantage at every step. I’d bracket those new studies on brain development in early childhood with a study from the National Center for Education Statistics, which tracked a group of students who were in eighth grade in 1988. The study found, roughly speaking, that in modern America parental status trumps ability: students who did very well on a standardized test but came from low-status families were slightly less likely to get through college than students who tested poorly but had well-off parents.None of this is inevitable. Poverty rates are much lower in most European countries than i
  • came into office in 1997 made reducing poverty a priority — and despite some setbacks, its program of income subsidies and other aid has achieved a great deal. Child poverty, in particular, has been cut in half by the measure that corresponds most closely to the U.S. definition. At the moment it’s hard to imagine anything comparable happening in this country. To their credit — and to the credit of John Edwards, who goaded them
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  • dest in scope and far from central to their campaigns.I’m not blaming them for that; if a progressive wins this election, it will be by promising to ease the anxiety of the middle class rather than aiding the poor. And for a variety of reasons, health care, not poverty, should be the first priority of a Democratic administration.
  • he nation turns back to the task it abandoned — that of ending the poverty that still poisons so many American lives.
  • the alleged abuses of welfare queens driving Cadillacs, and the fight against poverty was largely abandoned.In 2006, 17.4 percent of children in America lived below the poverty line, substantially more than in 1969. And even this measure probably unders
  • as always been a form of exile, of being cut off from the larger society. But the distance between the poor and the rest of us is much greater than it was 40 years ago, because most American incomes have risen in real terms while the official poverty line has not. To be poor in America today, even more than in the past, is to be an outcast in your own country. And that, the neuroscientists tell us, is what poisons a child’s brain.
  • failure to make progress in reducing poverty, especially among children, should provoke a lot of soul-searching. Unfortunately, what it often seems to
  • Some of these excuses take the form of assertions that America’s poor really aren’t all that poor — a claim that always has me wondering whether those making it watched an
  • eativity in making excuses.
  • an city. Mainly, however, excuses for poverty involve the assertion that the United States is a land of opportunity, a place where people can start out poor, work hard and become rich.But the fact of the matter is that Horatio Al
  • dren growing up in very poor families with low social status experience unhealthy levels
  • Thomas Minney on 16 Dec 10
     
    The effect of poverty on children and families, and it's multiple and long term consequences.
Duncan Innes

Growth or cuts? Keynes would not back the coalition - especially over jobs | Business |... - 0 views

www.guardian.co.uk/...conomy-coalition-labour-keynes

cuts growth politics austerity economics Guardian deficit Interest rates inflation osbourne

shared by Duncan Innes on 18 Jan 11 - No Cached
  • Conversely, if the jobless total rises by Easter, inflation edges above 4% and consumers save rather than spend, Labour will be able to say that it is the coalition that has messed things up, killing off growth with its ill-timed and harsh austerity programme.
Duncan Innes

Kraft to shed 200 British jobs but denies breaching no-cuts pledge to MPs | Business | ... - 0 views

www.guardian.co.uk/...kraft-axes-200-uk-jobs

kraft british jobs cadbury the guardian takeover strike industrial dispute location

shared by Duncan Innes on 06 Dec 11 - No Cached
  • Duncan Innes on 06 Dec 11
     
    Hard HR, Strikes, Takeover Trouble at Cadbury Kraft
Duncan Innes

BBC News - Cameron pledges to cut red tape for small business - 0 views

www.bbc.co.uk/...business-25903681

bbc news cameron tape small business

shared by Duncan Innes on 27 Jan 14 - No Cached
  • Duncan Innes on 27 Jan 14
     
    Supply Side policies in action - removing regulation
Emily Conner

Ed Balls on how to stimulate UK economy, part1/4 (16Jun11) - YouTube - 1 views

www.youtube.com/watch

tax cuts UK economy fiscal policy

shared by Emily Conner on 16 Sep 11 - No Cached
  • Emily Conner on 16 Sep 11
     
    How to stimulate the UK economy - Ed Balls speech
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