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Economist.com
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Simon Nixon of the Econmist on the report's findings for the future of the world economy. He points to the heavy debt overhang for individuals and banks that will take years to overcome resulting in entrenched unemployment and sluggish growth, somewhat reminiscent of Japan's years of stagnation after its bubble. The entrenched unemployment he argues will permanently lower the economic potential of developed countries of US and Europe. Public debt will rise so that private debt can fall. Bank lending that is cautious will only slow any recovery for a long time. And the grim facts he presents are that about 25 million jobs will be lost in the 30 rich countries of the OECD before all this is over during the coming decade, and several million jobs probably will never come back. Auto manufacturing and manufacturing in general is an example where some jobs lost may never be regained. There is no room for complacency here.
The shrinking U.S. middle class and what this may mean for consumption in the years ahead.
02/26/2008
If only 1.9 million hourly workers earned more than $20 per hour in April 2008, when the deep downturn that hit in October 2008 had not ocurred and the shift to part time employment and lower auto related wages was just underway, what would the numbers look like by 2010? And what does that mean for consumption? Does it prolong the downturn with demand slow to pick up? What does it mean for exports from China?
Grouped Articles
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More Men in Prime Working Ages Don't Have Jobs
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Falling Wages at Factories Squeeze the Middle Class
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U.A.W. Contract With Fiat Chrysler Would Give 2nd-Tier Workers Big Raise
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The American economy in 2010-2012: Looking ahead the risks and possibilities.
10/01/2009
Housing, hiring, the strength of the stimulus and capital spending will determine what 2010-2012 looks like for the U.S. economy.
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Michelin Issues Cautious Outlook
Wall Street Journal 10/01/2009
2010 Looks 'Highly Uncertain,' Zoellick Says
Wall Street Journal 10/02/2009
Economist 10/01/2009
Economist 10/01/2009
Economist 10/01/2009
Hiring, Business Investment and Other Big Variables That Will Drive 2010 Economy
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A new U.S. housing foreclosure crisis looming for 2010-2011.
10/01/2009
By conservative estimates according to NYT, 2.4 million homes will be lost to foreclosure in 2010. The faulty documentation poses a serious problem for banks, as they may be forced to buyback the mortgage securities sold improperly.
Grouped Articles
Wall Street Journal 12/31/2013
Wall Street Journal 10/16/2010
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
Economist 10/01/2009
Economist 10/01/2009
U.S. Mortgage Delinquencies Reach a Record High
New York Times 11/20/2009
Expert opinion on what the financial crisis of 2008 means for Europe and the USA.
10/01/2009
The Econmist's Simon Nixon and other experts present their conclusions about what is likely to follow the biggest financiall crisis since the great depression. 25 million jobs will be lost before all this is over in the 30 rich countries of the OECD.
Grouped Articles
Economist 10/01/2009
Economist 10/01/2009
Economist 10/01/2009
Wall Street Journal 05/22/2010
Financial Crisis Was Avoidable, Inquiry Concludes
New York Times 01/25/2011
Long-term understanding of the U.S. economic crisis - The Washington Post
Washington Post 03/19/2012
$52 billion of government money to go through AIG to banks and in turn to hedge funds for betting against the housing market.
01/19/2009
The Financial Products Group's 370 person staff at AIG earns bonueses of $400 million for AIG insurance sold at "fractions of a penny for every dollar covered, less than $10 million for $1 billion of insurance" (WSJ). It costs the government $52 billion to take care of this and $165 million in bonus check go out for retention incentives with binding contracts to these staffthe same week. Thats the kind of financial innovation that has exacerbated the turmoil and created acrisis of condfidence for financial markets in the USA by March 2009.
Grouped Articles
BusinessWeek 04/01/2010
Hedge Funders Are All a Little Nuts
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In New Books, a Look at People and Places That Innovate
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Hank Greenberg Still in the Ring at 90, Battling A.I.G. Charges
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Wall Street Journal 06/16/2015
In A.I.G. Case, Surprise Ruling That Could End All Bailouts
New York Times 06/15/2015
The economy of Britain in 2009-2010.
10/01/2009
Britain undergoes six quarters of declining GDP in September 2009.
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In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
U.K. Is Still in Recession as the Euro Bloc Improves
New York Times 10/24/2009
U.K. Numbers On Growth Don't Add Up
Wall Street Journal 10/24/2009
Economist 10/01/2009
‘Lost Decade’ Feared for British Economy
New York Times 11/21/2009
U.K. Unveils Severe 'Unavoidable Budget'
Wall Street Journal 06/23/2010
American manufacturing and the severe decline after the financial crisis of 2008.
01/20/2008
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Andy Grove: How America Can Create Jobs
BusinessWeek 07/01/2010
Wall Street Journal 10/02/2010
Economy Falling Years Behind Full Speed
New York Times 04/07/2009
After Michigan Loss, Hillary Clinton Sharpens Message on Jobs and Trade
New York Times 03/09/2016
Economist 10/01/2009
Economist 10/01/2009
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