The article that I had read was basically telling me to get ready for an economic crisis! We have mishandled our trade with China and have been spending more than we make (as a country. For instance, the U.S. economy is on the road to another recession. Growth is hardly at 2 percent and the unemployment is above 8 percent. The federal government is spending 50 percent more than it takes in. If we were to have another invention that could save the economy then there would be more jobs available in the United States and not overseas. We already had the market on space exploration but Obama got rid of NASA. Perhaps, we could reconsider investing in that again?
This article discussed the deep frustration among U.S. Veterans regarding unemployment. According to the August 2012 Department of Labor, the unemployment rate for veterans is at 10 percent, which is substantially higher than that of the general population, which is currently 8.1 percent. The article notes that many veterans are only able to find jobs as security guards or law enforcement officers, jobs that pay far below what they are used to. On a positive note, the unemployment rate for veterans is down from the 2011 average of 12.1 percent. However, this is to be expected, given Congress's passing of the bipartisan “VOW to Hire Heroes Act” in 2011, which sought to improve the transition from military to civilian occupations.
The article that I read was about how the new Apple iPhone 5 could boost the economy more than the efforts of the government. The iPhone could potentially help the economy enough to save it from any economic turmoil it might have in the final months of the year 2012. It could possibly add a quarter to a half percent to the economic growth of the fourth quarter. Apple is estimated to sell around 8 million units. Four hundred dollars, of the six hundred that the phone costs, is purely domestic. The money gained from the wireless carriers has not been taken into account either. The iPhone 5 is estimated to raise GDP $3.2 billion in the fourth quarter, or $12.8 billion at an annual rate. There is also potential for the iPhone 5 to continue to raise GDP much more past this year. The iPhone 5 is going to make an even bigger impact on economy than the iPhone 4s. This little phone could start 2013 on a very good foot.
Is Facebook noteworthy in the eye of stock investors? In eight short years Facebook has reached over 104 billion on the stock market. Jeff Sommer, a writer for the New York Times, sought the professional opinion of the 1990 Nobel laureate in economics, Mr. Markowitz. Mr. Markowitz simply stated two significant words, "portfolio section." He explains that it means that rational investors ought to assemble rigorously diversified portfolios of stocks and bonds with a mix of risk and return optimized for their own needs and beliefs. Mr. Markowitz's thoughts are relevant in that investors should seek other information before blindly investing.
This week I chose an article about the economy and the presidential candidates’ promises to make it better. Obama promises to create more jobs by “spending on public works and targeted tax breaks for business”. Mitt Romney promises to boast the economy by “income taxes low, slashing corporate taxes, relaxing or repealing regulations on businesses and encouraging production of oil and natural gas.” The rest of the article talks about why their points of view matter. It mentions 2009 recession and how after that the economy is still really slow. Even though President Obama has tried to revive the economy, his attempts have failed. Republicans and Democrats will have to find common ground in order to keep the economy afloat.
http://www.washingtonpost.com/politics/romney-obama-talk-about-health-care-as-they-reach-out-to-swing-voters/2012/09/09/8da00458-faec-11e1-a65a-d6e62f9f2a5a_story.html In this article that I read it says that Ohio’s economy has improved and so has Obamas standings, putting pressure on Romney. NO Republican has won the presidency without winning Ohio. Romney hopes that he will catch Obama here by pointing out his job record in working class regions. In Ohio hardly a week goes by without either of the candidates appearing in Ohio. All year the race for presidency has been close. Internal surveys show it tighter now with Obama ahead by 3%. While president Obama stayed in Washington on Monday Romney was in Ohio looking to take advantage on the Presidents absence pointing out Obamas deep defense cuts scheduled as part of a deficit-reduction proposal.
It appears that economics and politics are inseparable today in Palestine. The territory is struggling badly as taxes go up, gas prices increase and salaries go unpaid. Palestinian Authorities president Mahmoud Abbas explained that the latest holdouts are acts of defiance, as countries who have pledged financial aid fail to “come through with the promised cash,” in some cases as punishment for the PA’s aggressive diplomatic offensive as they seek recognition in the UN. The PA was established the Oslo Accords as a means to eventual statehood; however it is little more than an employer, and a bad one at that. Protesters demanding to be paid crowded the street in the hundreds, demanding certain officials to step down. Poverty is rampant in some areas, some people forced to dig scraps out of dumpsters to eat. According to 38-year-old Mohammed Mahmoud, “Our government failed to achieve anything political, and even feeding the people, they are failing.” http://world.time.com/2012/09/10/the-moribund-economy-brings-palestinians-into-the-streets/
This article basically explained how over twenty-nine thousand teachers in Chicago abandoned over four hundred thousand students to run wild through the streets on strike. Chicago, having a serious case of both wealthy employees and poor students, is quickly gaining necessary attention nationwide. This strike was due to the 'fairly inconvenient' teacher contracts that Mayor Rahm Emmanuel had established his first years in office. The contracts started off with a four percent raise for all teachers. However, seeing that there was a greater need for a longer school day, Emmanuel quickly tried to exchange the four percent raise for a two percent raise, including an extra ninety minutes to the average school day. The teachers were obviously unwilling to compromise with the Mayor's new proposal, and the discussion has been going on for months now. In order to deal with these uncooperative teachers, schools are obliged to re-hire hundreds of teachers that have recently been laid off due to previous financial issues. On top of that, the CPS has budgeted to spend up to twenty-five million to provide temporary shelter, meals, and other activities for the abandoned students from 8:30 a.m. and 12:30 p.m. until the strike blows over. This is one of the biggest and one of the most expensive strikes ever, not only effecting the students and their parents, but also Obama's current position as President, as Romney claims that Obama is supporting the teachers' cause. Things are becoming heated and most families are advised to keep children at home.
The Afghan citizens have recognized that since the evacuation of foreign troops, the economy has slowed down. The growing business was brought by foreigners who provided goods to military bases. While troops were occupying Afghanistan there was a 9% economic growth every year. The full withdrawal of troops is planned for 2014. Unfortunately for Afghanistan three fourths of the country is illiterate. And they have done little to exploit their natural resources. They had 40% of their gross domestic product from foreign countries. With little to no support from foreigners, and a dwindling economy, trouble could erupt in Afghanistan. Perhaps there could be another coup from the Taliban.
The article I read is centered around the recent strike that being held by the Chicago teacher's union. The strike is apparently the first teacher's strike within the city in twenty-five years, and by all accounts it is the most serious teacher's strike in recent memory. The strike is being held in direct protest to the new system of paying teachers -- basing teacher's salary on student performance rather than years of teaching experience. The vast majority of teachers within the city of want pay to be based on the latter option. Another contributing factor to this strike is the fact that the mayor of city, Rahm Emmanuel, passed a bill that added an additional hour to every school day. The teacher's union is upset because he did not "go through them" before passing. With the unions securing job security,essentially the inability to get fired, an average salary of 76,000 dollars a year BEFORE benefits,and with benefits a yearly compensation of 102,000, one has to wonder if the teachers of Chicago really have anything to be on strike about.
http://money.cnn.com/2012/09/07/news/economy/young-adults-jobs/index.html?iid=SF_E_River This article tells us how in the month of August there has been a huge decrease in the labor forces. It has been about 400,000 people dropping out of the labor forces. Instead of people finding jobs there has been drop outs.The reason why there is a drop out in the labor forces is because young people (16-21) are not lookingfor jobs.There were 453,000 fewer young adults working in August than in July. But even though there wasa huge drop out there has been a plung with people who are looking for new jobs.
America is not the only country with a gruesome economic state, but perhaps it's the most desperate. A common strategy used to boost economies is the quick fix of pumping newly printed money into the economy. In the past, printing money has boosted economies greatly, including creating more jobs.
At this point, however, America is breaking out the money machines perhaps too readily, seeing as the most recent attempts did not help much at all.
In Europe, a similar second, money-pumping attempt is being made, but Europe's central bank has to deal with mandates that get in the way of their printing money.
China, also, is experiencing a similar situation with a new twist. Beijing just announced new infrastructure adjustments in order to boost their economy which is beginning to slow down. China is facing difficulties because of their recent spending sprees which left them with an overabundance of “roads, bridges, airports, rail lines”. Their cure is to print and dump more money into their economy. The drawbacks of this plan include the chance of another round of consumer inflation.
This article, Turkey's Economy Grows Less Than Expected, talks about how the economy in Istanbul has slowed to a 2.9% expansion – which will probably heed the country from making its goal of a 4% growth. The Turkish dollar, the lira, was reported trading at 0.1% lower than the American dollar. Economists expect an even slower GDP growth in the last two quarters. However, Turkey has managed to expand its export market – increased sales to North Africa and the Middle East have accounted for 17% of GDP growth ($135 billion). Inflation decreased 2.2% from August to April. Expanding economic exports is key, but reaching a 4% goal is crucial. Many believe Turkey only has the capability to make a 3.3% growth rate at most for this year.
This article, like the title suggests, talks about chinas economic slump worsening. Even after some already disapointing economic downturns chinas imports shrank unexpectedly by 2.6 percent in august. The article talks about how this is bad for countries that export things to china. Analysts expect chinas economy to bounce back though in early 2013. Chinas president is somewhat skeptical though, warning that any growth could happen very slowly causing the possibility of new stimulus spending. China is also the second largest economy in the world so i think it says a lot that even they are shrinking.
The iPhone 5 which is to be released sometime this week is said to raze the economy by quarter and half a percentage point in the fourth quarter. Apple is predicting to sell 8 million phones in the last three months of the year, this is a high perdition but with last year’s sales of the iPhone 4 S this is said to be a reasonable prediction. If they are able to sell the 8 million, then $400 per phone would figure into the government’s measure of GDP. This would boost GDP by 3.2 billion that is an increase of 0.33 percent. With the higher oil prices and the drought which is hurting the US right now. With the launch of the iPhone 5, the economy will be moving in the right direction
http://www.foxnews.com/opinion/2012/07/23/coming-economic-collapse/
ReplyDeleteThe article that I had read was basically telling me to get ready for an economic crisis! We have mishandled our trade with China and have been spending more than we make (as a country.
For instance, the U.S. economy is on the road to another recession. Growth is hardly at 2 percent and the unemployment is above 8 percent. The federal government is spending 50 percent more than it takes in.
If we were to have another invention that could save the economy then there would be more jobs available in the United States and not overseas. We already had the market on space exploration but Obama got rid of NASA. Perhaps, we could reconsider investing in that again?
http://www.foxnews.com/us/2012/09/07/on-job-hunt-putting-us-veterans-to-work/
ReplyDeleteThis article discussed the deep frustration among U.S. Veterans regarding unemployment. According to the August 2012 Department of Labor, the unemployment rate for veterans is at 10 percent, which is substantially higher than that of the general population, which is currently 8.1 percent. The article notes that many veterans are only able to find jobs as security guards or law enforcement officers, jobs that pay far below what they are used to. On a positive note, the unemployment rate for veterans is down from the 2011 average of 12.1 percent. However, this is to be expected, given Congress's passing of the bipartisan “VOW to Hire Heroes Act” in 2011, which sought to improve the transition from military to civilian occupations.
http://blogs.wsj.com/economics/2012/09/10/iphone-5-sales-could-offer-big-boost-to-gdp/
ReplyDeleteThe article that I read was about how the new Apple iPhone 5 could boost the economy more than the efforts of the government. The iPhone could potentially help the economy enough to save it from any economic turmoil it might have in the final months of the year 2012. It could possibly add a quarter to a half percent to the economic growth of the fourth quarter. Apple is estimated to sell around 8 million units. Four hundred dollars, of the six hundred that the phone costs, is purely domestic. The money gained from the wireless carriers has not been taken into account either. The iPhone 5 is estimated to raise GDP $3.2 billion in the fourth quarter, or $12.8 billion at an annual rate. There is also potential for the iPhone 5 to continue to raise GDP much more past this year. The iPhone 5 is going to make an even bigger impact on economy than the iPhone 4s. This little phone could start 2013 on a very good foot.
That's crazy!
Deletehttp://www.nytimes.com/2012/05/20/your-money/facebooks-swings-are-ho-hum-to-a-nobel-laureate.html?_r=1&ref=economics
ReplyDeleteIs Facebook noteworthy in the eye of stock investors? In eight short years Facebook has reached over 104 billion on the stock market. Jeff Sommer, a writer for the New York Times, sought the professional opinion of the 1990 Nobel laureate in economics, Mr. Markowitz. Mr. Markowitz simply stated two significant words, "portfolio section." He explains that it means that rational investors ought to assemble rigorously diversified portfolios of stocks and bonds with a mix of risk and return optimized for their own needs and beliefs. Mr. Markowitz's thoughts are relevant in that investors should seek other information before blindly investing.
http://www.cbsnews.com/8301-505245_162-57509762/why-it-matters-the-economy/
ReplyDeleteThis week I chose an article about the economy and the presidential candidates’ promises to make it better. Obama promises to create more jobs by “spending on public works and targeted tax breaks for business”. Mitt Romney promises to boast the economy by “income taxes low, slashing corporate taxes, relaxing or repealing regulations on businesses and encouraging production of oil and natural gas.” The rest of the article talks about why their points of view matter. It mentions 2009 recession and how after that the economy is still really slow. Even though President Obama has tried to revive the economy, his attempts have failed. Republicans and Democrats will have to find common ground in order to keep the economy afloat.
http://www.washingtonpost.com/politics/romney-obama-talk-about-health-care-as-they-reach-out-to-swing-voters/2012/09/09/8da00458-faec-11e1-a65a-d6e62f9f2a5a_story.html
ReplyDeleteIn this article that I read it says that Ohio’s economy has improved and so has Obamas standings, putting pressure on Romney. NO Republican has won the presidency without winning Ohio. Romney hopes that he will catch Obama here by pointing out his job record in working class regions. In Ohio hardly a week goes by without either of the candidates appearing in Ohio. All year the race for presidency has been close. Internal surveys show it tighter now with Obama ahead by 3%. While president Obama stayed in Washington on Monday Romney was in Ohio looking to take advantage on the Presidents absence pointing out Obamas deep defense cuts scheduled as part of a deficit-reduction proposal.
It appears that economics and politics are inseparable today in Palestine. The territory is struggling badly as taxes go up, gas prices increase and salaries go unpaid. Palestinian Authorities president Mahmoud Abbas explained that the latest holdouts are acts of defiance, as countries who have pledged financial aid fail to “come through with the promised cash,” in some cases as punishment for the PA’s aggressive diplomatic offensive as they seek recognition in the UN. The PA was established the Oslo Accords as a means to eventual statehood; however it is little more than an employer, and a bad one at that. Protesters demanding to be paid crowded the street in the hundreds, demanding certain officials to step down. Poverty is rampant in some areas, some people forced to dig scraps out of dumpsters to eat. According to 38-year-old Mohammed Mahmoud, “Our government failed to achieve anything political, and even feeding the people, they are failing.”
ReplyDeletehttp://world.time.com/2012/09/10/the-moribund-economy-brings-palestinians-into-the-streets/
A check-plus comment (double credit). Well done!
Deletehttp://www.chicagotribune.com/news/local/breaking/chi-teacher-strike-expected-to-go-into-2nd-day-20120910,0,4057997.story
ReplyDeleteThis article basically explained how over twenty-nine thousand teachers in Chicago abandoned over four hundred thousand students to run wild through the streets on strike. Chicago, having a serious case of both wealthy employees and poor students, is quickly gaining necessary attention nationwide. This strike was due to the 'fairly inconvenient' teacher contracts that Mayor Rahm Emmanuel had established his first years in office. The contracts started off with a four percent raise for all teachers. However, seeing that there was a greater need for a longer school day, Emmanuel quickly tried to exchange the four percent raise for a two percent raise, including an extra ninety minutes to the average school day. The teachers were obviously unwilling to compromise with the Mayor's new proposal, and the discussion has been going on for months now. In order to deal with these uncooperative teachers, schools are obliged to re-hire hundreds of teachers that have recently been laid off due to previous financial issues. On top of that, the CPS has budgeted to spend up to twenty-five million to provide temporary shelter, meals, and other activities for the abandoned students from 8:30 a.m. and 12:30 p.m. until the strike blows over. This is one of the biggest and one of the most expensive strikes ever, not only effecting the students and their parents, but also Obama's current position as President, as Romney claims that Obama is supporting the teachers' cause. Things are becoming heated and most families are advised to keep children at home.
http://www.freep.com/usatoday/article/57738224?odyssey=mod%7Cnewswell%7Ctext%7CFRONTPAGE%7Cp
ReplyDeleteThe Afghan citizens have recognized that since the evacuation of foreign troops, the economy has slowed down. The growing business was brought by foreigners who provided goods to military bases. While troops were occupying Afghanistan there was a 9% economic growth every year. The full withdrawal of troops is planned for 2014. Unfortunately for Afghanistan three fourths of the country is illiterate. And they have done little to exploit their natural resources. They had 40% of their gross domestic product from foreign countries. With little to no support from foreigners, and a dwindling economy, trouble could erupt in Afghanistan. Perhaps there could be another coup from the Taliban.
http://www.latimes.com/news/nation/nationnow/la-na-nn-chicago-teachers-strike-negotiations-20120910,0,1214820.story
ReplyDeleteThe article I read is centered around the recent strike that being held by the Chicago teacher's union. The strike is apparently the first teacher's strike within the city in twenty-five years, and by all accounts it is the most serious teacher's strike in recent memory. The strike is being held in direct protest to the new system of paying teachers -- basing teacher's salary on student performance rather than years of teaching experience. The vast majority of teachers within the city of want pay to be based on the latter option. Another contributing factor to this strike is the fact that the mayor of city, Rahm Emmanuel, passed a bill that added an additional hour to every school day. The teacher's union is upset because he did not "go through them" before passing. With the unions securing job security,essentially the inability to get fired, an average salary of 76,000 dollars a year BEFORE benefits,and with benefits a yearly compensation of 102,000, one has to wonder if the teachers of Chicago really have anything to be on strike about.
http://money.cnn.com/2012/09/07/news/economy/young-adults-jobs/index.html?iid=SF_E_River
ReplyDeleteThis article tells us how in the month of August there has been a huge decrease in the labor forces. It has been about 400,000 people dropping out of the labor forces. Instead of people finding jobs there has been drop outs.The reason why there is a drop out in the labor forces is because young people (16-21) are not lookingfor jobs.There were 453,000 fewer young adults working in August than in July. But even though there wasa huge drop out there has been a plung with people who are looking for new jobs.
http://economywatch.nbcnews.com/_news/2012/09/10/13783047-central-bank-money-machines-fail-to-spur-global-economy?lite
ReplyDeleteAmerica is not the only country with a gruesome economic state, but perhaps it's the most desperate. A common strategy used to boost economies is the quick fix of pumping newly printed money into the economy. In the past, printing money has boosted economies greatly, including creating more jobs.
At this point, however, America is breaking out the money machines perhaps too readily, seeing as the most recent attempts did not help much at all.
In Europe, a similar second, money-pumping attempt is being made, but Europe's central bank has to deal with mandates that get in the way of their printing money.
China, also, is experiencing a similar situation with a new twist. Beijing just announced new infrastructure adjustments in order to boost their economy which is beginning to slow down. China is facing difficulties because of their recent spending sprees which left them with an overabundance of “roads, bridges, airports, rail lines”. Their cure is to print and dump more money into their economy. The drawbacks of this plan include the chance of another round of consumer inflation.
This article, Turkey's Economy Grows Less Than Expected, talks about how the economy in Istanbul has slowed to a 2.9% expansion – which will probably heed the country from making its goal of a 4% growth. The Turkish dollar, the lira, was reported trading at 0.1% lower than the American dollar. Economists expect an even slower GDP growth in the last two quarters. However, Turkey has managed to expand its export market – increased sales to North Africa and the Middle East have accounted for 17% of GDP growth ($135 billion). Inflation decreased 2.2% from August to April. Expanding economic exports is key, but reaching a 4% goal is crucial. Many believe Turkey only has the capability to make a 3.3% growth rate at most for this year.
ReplyDeletehttp://online.wsj.com/article/SB10000872396390443921504577643101415746404.html?mod=googlenews_wsj
http://www.washingtonpost.com/business/news-summary-chinas-imports-shrink-in-sign-downturn-worsening-president-warns-on-growth/2012/09/10/cbd7d9a0-fb6c-11e1-98c6-ec0a0a938eb_story.html
ReplyDeleteThis article, like the title suggests, talks about chinas economic slump worsening. Even after some already disapointing economic downturns chinas imports shrank unexpectedly by 2.6 percent in august. The article talks about how this is bad for countries that export things to china. Analysts expect chinas economy to bounce back though in early 2013. Chinas president is somewhat skeptical though, warning that any growth could happen very slowly causing the possibility of new stimulus spending. China is also the second largest economy in the world so i think it says a lot that even they are shrinking.
http://blogs.wsj.com/economics/2012/09/10/iphone-5-sales-could-offer-big-boost-to-gdp/
ReplyDeleteThe iPhone 5 which is to be released sometime this week is said to raze the economy by quarter and half a percentage point in the fourth quarter. Apple is predicting to sell 8 million phones in the last three months of the year, this is a high perdition but with last year’s sales of the iPhone 4 S this is said to be a reasonable prediction. If they are able to sell the 8 million, then $400 per phone would figure into the government’s measure of GDP. This would boost GDP by 3.2 billion that is an increase of 0.33 percent. With the higher oil prices and the drought which is hurting the US right now. With the launch of the iPhone 5, the economy will be moving in the right direction
ReplyDelete