Tag Archives: GDP
At This Rate It Will Be 22 Years Before UK Households Have Paid Off Their Debts
According to a report from PricewaterhouseCoopers (PwC) the typical UK household owes £7,900, which they are repaying at an average rate of £355 per year. At that rate it will be 22 years before these personal loans, overdrafts and credit … Continue reading
Greece Is Now In A Depression, But There Is Another Way
Though there is no agreed definition of the term depression, several have been proposed. These include: A decline in real GDP of at least 10% A recession (economic contraction) lasting two or more years An unemployment rate that reaches or … Continue reading
We’re Not On The Path To Sustainable Growth Because We’re Using Entirely The Wrong Map
We are continuously told by our political leaders that our economy is on “the path to sustainable growth”. To be on the right path however, we need to be following the right map and therein lies the problem. We’re not. … Continue reading
Greece: The Certainty of Default and the Risk of a PIG Contagion
When Greece defaults holders of its debt are certain to take a haircut. The real risk however is that other PIG countries will follow them. Greece may only represent 0.48% of global GDP but its total debt is a staggering … Continue reading
China’s Growth Miracle May Not Be Quite What It Seems
We often swoon over the mind boggling statistics that come out of China but their seemingly unstoppable double digit growth rate may not be quite what it seems. GDP is a measure of spending not prosperity, and it’s easy to … Continue reading
Six options for dealing with the global debt crisis
The world’s largest economies are mired in debt. I have written about the scale of the problem before and this subject is covered frequently in the Debt Watch category so I won’t go into it again here. Today I want … Continue reading →