Fiscal Cliff
Here we go again. The High Streets are full of bargain-hungry shoppers, the Christmas decorations are back in their boxes, New Year’s resolutions are still just about holding, and a certain ski resort in Switzerland is readying itself for an influx of global economic power-brokers. The World Economic Forum is about to descend, once again, on Davos.
The Eurozone’s enduring sovereign debt crisis has dominated Davos for the past few years, reaching fever pitch as it lurched from one potential calamity to another. The currency’s very survival has been the hot topic in this freezing Swiss town of late.
As Greece looked to be heading for the exit door, and some delegates wondered if it was all a big German conspiracy to control Europe, eyes turned to China as the global economy’s potential saviour.
Continue reading "This year’s big economic story isn’t the Euro…" »
2013 is shaping up as the year of blockbuster economic jargon. Unless you’ve been living under a rock or relaxing on a remote beach (lucky you) you’ve heard of the fiscal cliff. Ad nauseum, no doubt.
But fear not. Let me guide you safely back from the fiscal cliff; let’s bust the debt ceiling together and run hand in hand from any zombie banks we may encounter. Here is my cut-out-and-keep, economic jargon-busting guide to 2013:
FISCAL CLIFF: The name given to the hundreds of billions of dollars of tax hikes and spending cuts that were due to start from January 1 in the United States. Fiscal is the name given to the tax and spend decisions of governments. Cliff refers to the sudden nature of the change in budget settings. Tax hikes and spending cuts of $670 billion, roughly 4.3 per cent of American annual economic output, were set to knock the world’s biggest economy back into recession.
Continue reading "Staving off the cliff by giving debt haircuts to zombies…" »
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108 degrees celsius says:
obama wants to sidestep congress over guns controls issues and all issues in 2013 Read more »
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Smashmellows says:
And therin is the lie Jessica. In Australia since the begining of the GFC tax recipts have been good, profits have been reasonable and unemployment on a historical average. Federal governement income has actually increased over the period since the Howard government was removed. This recent period is a time… Read more »
It’s a New Year - time for a fresh start.
In everyday life and in the news in 2012, a lot of phrases got thrown around that fast became pretty cliche.
Here’s a small list of a few that got up our noses last year.
Continue reading "Fifty shades of crap clichés we should leave in 2012" »
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Alan says:
“I will not be lectured”, “I was offended” - ah well basically anything that looney Gillard said since she’s been PM. Read more »
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Christine says:
Seano says The difference is it has been common knowledge for sometime that the economic conditions were not so great and that the budget surplus was a figment. The writing was on the wall for all to see, but the Gillard/Swan crowd failed to accept reality until it was absolutely… Read more »
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