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The Budget turned out too ordinary, given the expectations of a dramatic turn in fiscal policy to tackle the problems the country faces, the latest of which is the south-west monsoon’s poor progress, says A. SESHAN.
CORPUS CHRISTI — At our core, we are at the mercy of our fallible brain and the many tricks that it plays on us. It creates rationalizations for even the most bizarre and self-destructive behavior.
The unemployment rate in the United States rose to 9.5% in June 2009 from 3.6% in October 2000 and 4.1% in October 2006. Most puzzling, as indicated in the chart below, has been the obvious failure of Federal Reserve chairman Ben Bernanke's unprecedented aggressive monetary policy to produce the quick economic recovery that he promised at each interest rate cut.
The lowering of cost of credit, reduction in CENVAT, sector specific initiatives, have helped stimulate domestic demand and generate higher employment, Jyotiraditya M. Scindia, Minister of State for Commerce & Industry, told the Rajya Sabha on Wednesday.
The global crisis is about to go "financial" in the developing world.
TECHNICAL ANALYSIS: Rupee to decline further Upward revision of the targeted fiscal deficit in the Union Budget acted in concert with the crash in equity market to cause a sharp depreciation in rupee this week. The currency reversed lower from the short-term peak of 47.5 to decline to ...
July 8 (Bloomberg) -- The euro expanded its role as a reserve currency last year at the expense of the dollar, data published by the European Central Bank show.
A top economist at one of Canada's big banks says it's unlikely the U.S. dollar will be ditched as the lead currency used in international trade.
By Marc Jones
Credit expansion was the source of the funds that fueled both the stock market and the real estate bubbles.Credit expansion provided funds for the purchase of stocks. The sellers of the stocks then used the far greater part of their proceeds to purchase other stocks, whose sellers did likewise. In this way, the new and additional money created by credit expansion traveled from one set of stocks ...
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