BY ARI MOSES While Western banking institutions have traditionally dominated global commerce, Middle and Far Eastern nations are catching up as they develop stable economies with international presence. The rapid economic growth of BRIC (Brazil, Russia, India, China) nations, especially China, has recently enabled emerging powers to support struggling nations […]
Archive for: debt
BY VICTORIA SGARRO Negative $27. For the first time in his life, Daniel* came face to face with a bank statement of less than zero. He stared fiercely at the computer screen glowing in his lap, as if he could will the tiny black minus sign to disappear. Although money […]
In the UK, the country I’ve called home for the past few months, we’ve now officially entered an unexpected double-dip recession. Like Obama, Prime Minister David Cameron inherited a huge debt. However, the British pound is much more vulnerable than the dollar, and the Tories decided to institute swift austerity […]
Simmering With Greece “Pass this Bill,” urged President Barack Obama, warning that the alternative to his jobs plan was a crisis that would resemble Europe’s. In Sarah Palin’s letter to her Political Action Committee, she stressed the need for a leader to show the US the way, lest it follows […]
On August 5, 2011, the credit rating agency Standard and Poor’s downgraded the status of the United States’ long-term credit rating from AAA to AA+. Riots immediately broke out nationwide, Texas seceded from the Union, and California broke off and sank into the sea. A little background might be in […]
With the congressional deadline approaching to decrease the deficit by more than a trillion dollars, some still question if this imposed decrease is necessary. The deficit could be sustainable and may not even harm future generations. Yet, there are many reasons why this decrease is necessary, and why cutting government […]
It has always been true that a college education takes years, even decades, to pay for itself. But in today’s economic climate, those who pursue higher education are at a financial disadvantage for longer periods of times.