September 6, 2013 |
ST. PETERSBURG, Russia - After two days of summit meetings here, President Obama and other world leaders signed a lengthy declaration of prescriptions for the global economy, including pledges that placed a renewed emphasis on creating jobs as opposed to curbing deficits. The so-called Group of 20 major economies also took further steps to crack down on multinational companies that avoid paying taxes. The 27-page joint statement from the G-20, which concluded its meetings Friday, underscored the shifting momentum in growth toward the U.S. and other advanced economies.
September 3, 2013 |
WASHINGTON -- Growth picked up in the second quarter in the U.S., Europe and other major advanced economies but has slowed in China and other key emerging nations, which will lead to sluggish global output, the Organization for Economic Development and Cooperation said Tuesday. Concerns about a pullback on stimulus efforts by the Federal Reserve has triggered financial market turbulence in emerging economies such as India and Indonesia and fueled currency depreciation and an outflow of capital because of rising borrowing costs, the group said in a new report . Consequently, the boost that emerging nations have given to the global economy will be reduced in coming months and growth will be uneven, the report said.
August 21, 2013 |
Edward is a bit flummoxed by the notion of "securitized" mortgages. That's when lots of people's mortgages are bundled together and sold to investors. Is that legal? Moreover, Edward wants to know if the practice contributes to housing bubbles. These are fair questions. Securitized mortgages are one reason the global economy got knocked for a loop during the Great Recession. Once the housing market started collapsing, it threatened to take Wall Street with it. ASK LAZ: Smart answers to consumer questions The answers depend on your point of view.
May 29, 2013 |
WASHINGTON -- The global economic recovery remains weak and growth this year will be lower than projected six months ago but will pick up in 2014, the Organization for Economic Cooperation and Development said Wednesday. World economic output is expected to increase 3.1% this year, down from a forecast of 3.4% in November, according to the group's semi-annual Economic Outlook report. The forecast for growth in the U.S. also was downgraded, to 1.8% in the latest report from 2% six months ago. QUIZ: How much do you know about sequestration?
May 12, 2013
Re "Medical rates range off the chart," May 9 Our political leaders regularly lament the notion that ever-rising healthcare costs will eventually bankrupt our country. The question is why they treat this problem as if it were an act of God, totally beyond their power to do anything about it. In most businesses the price is based on actual costs plus overhead, profit and other items. In healthcare, the price is whatever ridiculously inflated number someone has the gall to put on the bill.
April 5, 2013 |
Japan's central bank took a massive bet to reset its economy and pull out of nearly two decades of deflation. The Bank of Japan announced an aggressive and ambitious plan Thursday to expand its purchase of long-term bonds and double the amount of money in circulation, all in an effort to boost inflation to 2% within two years and stimulate consumer and business spending. The move stoked the Japanese stock market, which gained 2.2% on Thursday and continued rising early Friday, and sent the yen plunging against the dollar.