The IMF is talking straight. That’s good because we need to be realistic. And realism will rejuvenate confidence. False starts just create pain. The IMF warns that the global recession is likely to be “unusually long and severe, and the recovery sluggish”. See IMF’s World Economic Outlook (WEO) Crisis and Recovery April 2009 here. BBC’s …
Continue reading Looking for the bottom; but it’s not over yet …
Category:Economy
A different approach – Irish emergency budget.
Ireland’s government issued a revised budget yesterday. It is an austere break from the model being adopted in many other countries. Ireland’s finances are in dire need of repair and the government has reacted by increasing taxes and reducing public spending. It is certain that we need to make adjustments and rebuild our economy to …
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Economic crisis? The ecological crisis is looming.
Growing world population will cause a “perfect storm” of food, energy and water shortages by 2030, the UK government chief scientist has warned. Global crisis ‘to strike by 2030’
China’s NPC opens with some interesting indicators
China’s National People’s Congress opened today with a speech by Premier Wen Jiabao. While these presentations are usually quite unrevealing and perhaps a bit propagandist, some interesting things were said. There will be a continued push to stimulate the economy including a € 0.5 trillion investment package. But part of the bdget includes an increase …
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Which country has the greenest bailout?
Which country has the greenest bailout? You’ll be surprised. China scores very well, South Korea is top of the list in percentage terms, Europe is OK, but the US, which could do so well from an energy security perspective as well as an economic one, lags. See the handy FT graphic here in Which country …
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Nothing changes …
A 4 minute video of the 1920s crash posted by the BBC is here: The Road to Hooverville. It’s a familiar story. And, unfortunately, without real solutions. But it puts us in the picture.
Nationalisation, deglobalisation … Communism?
Not yet. But the hasty reaction to economic problems may become more self-destructive than necessary. Certainly moves to nationalise banks have been necessary to hold the global financial system “together”. And there has been a fall in trade as consumption has faltered. But the increasing popular call for government involvement and deglobalisation is dangerous and …
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Optimistic? Pestimistic? No. Realistic
You’re right to try to be optimistic. Or at least positive. A positive outlook helps keep spirits up, helps avoid despondency. despondency can be the worst because then you just stop doing anything and sink in to a mire of desperation. But optimism about the outlook could be even more dangerous. It could result in …
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Finally! The US has owned up to a recession.
It has been a long time coming but it looks as though the US is finally owning up to an economic recession. According to the US National Bureau of Economic Research the US entered a recession in December 2007. It does not forecast the length of the recession, however, data suggest that the slowdown is …
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Yoga and the Economic Crisis
Read Pam’s essay Yoga in the Economic Crisis – Maintaining Emotional Health in Hard Times. In it she talks about how yoga help, why it works and mentions some alternatives too. Maybe it’s worth getting a bit of yoga in your life.