|
Household Debt
Household debt is the combined debt of all people in a household, including consumer debt and mortgage loans. A significant rise in the level of this debt coincides historically with many severe economic crises and was a cause of the U.S. and subsequent euro area crisis. Several economists have argued that lowering this debt is essential to economic recovery in the U.S. and selected Eurozone countries. Overview Household debt can be defined in several ways, based on what types of debt are included. Common debt types include home mortgages, home equity loans, auto loans, student loans, and credit cards. Household debt can also be measured across an economy, to measure how indebted households are relative to various measures of income (e.g., pre-tax and disposable income) or relative to the size of the economy (GDP). The burden of debt can also be measured in terms of the amount of interest it generates relative to the income of the borrower. For example, the U.S. Federal Reser ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Household Debt In Great Britain 2008-10
A household consists of one or more persons who live in the same dwelling. It may be of a single family or another type of person group. The household is the basic unit of analysis in many social, microeconomic and government models, and is important to economics and inheritance. Household models include families, blended families, shared housing, group homes, boarding houses, houses of multiple occupancy (UK), and single room occupancy (US). In feudal societies, the royal household and medieval households of the wealthy included servants and other retainers. Government definitions For statistical purposes in the United Kingdom, a household is defined as "one person or a group of people who have the accommodation as their only or main residence and for a group, either share at least one meal a day or share the living accommodation, that is, a living room or sitting room". The introduction of legislation to control houses of multiple occupations in the UK Housing Act (2004) Se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Janet Yellen
Janet Louise Yellen (born August 13, 1946) is an American economist who served as the 78th United States secretary of the treasury from 2021 to 2025. She also served as chair of the Federal Reserve from 2014 to 2018. She was the first woman to hold either position, and has also led the White House Council of Economic Advisers. Yellen is the Eugene E. and Catherine M. Trefethen Professor of Business Administration and Economics at the University of California, Berkeley. Born and raised in Bay Ridge, Brooklyn, Yellen graduated from Brown University in 1967 and earned a Doctor of Philosophy, Ph.D. in economics from Yale University in 1971. She taught as an assistant professor at Harvard University from 1971 to 1976, was a staff economist for the Federal Reserve Board from 1977 to 1978, and was a faculty member at the London School of Economics from 1978 to 1980. Yellen is professor emeritus at the Haas School of Business at the University of California, Berkeley, where she has been ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Home Owners' Loan Corporation
The Home Owners' Loan Corporation (HOLC) was a government-sponsored corporation created as part of the New Deal. The corporation was established in 1933 by the Home Owners' Loan Corporation Act under the leadership of President Franklin D. Roosevelt. Its purpose was to refinance home mortgages currently in default to prevent foreclosure, as well as to expand home buying opportunities. The HOLC created a housing appraisal system of color-coded maps that categorized the riskiness of lending to households in different neighborhoods. While the maps relied on various housing and economic measures, they also used demographic information (such as the racial, ethnic, and immigrant composition of neighborhoods) to categorize creditworthiness. Since Kenneth T. Jackson's work in the 1980s, a number of studies have found that HOLC was a key promoter of redlining and a driver of racial residential segregation and racial wealth inequality in the United States. Organizational history HO ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States, the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered the beginning of the Depression. Among the countries with the most unemployed were the U.S., the United Kingdom, and Weimar Republic, Germany. The Depression was preceded by a period of industrial growth and social development known as the "Roaring Twenties". Much of the profit generated by the boom was invested in speculation, such as on the stock market, contributing to growing Wealth inequality in the United States, wealth inequality. Banks were subject to laissez-faire, minimal regulation, resulting in loose lending and wides ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steven Clemons
Steven Craig Clemons (born 1962) is an American journalist and blogger. In March 2022, he became Founding Editor at Large of '' Semafor'', Justin Smith and Ben Smith’s new media startup, to create their global events vertical. He spent three years as Editor at Large of '' The Hill''. Before that, Clemons was Washington editor-at-large of ''The Atlantic'' and editor-in-chief of AtlanticLIVE, the magazine's live events series. Clemons also served as editor-at-large of ''Quartz'', a digital financial publication owned by Atlantic Media. He is also the host of '' The Bottom Line'' that airs on the global network of Al Jazeera English. Clemons also published a political blog, ''The Washington Note'', through April 2015 and was previously CEO of the multi-arts platform The BeBop Channel. He is a former staff member of Senator Jeff Bingaman. Clemons is also served as Director of thAmerican Strategy Programat the New America Foundation where he previously served as Executive Vice Pres ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Hussman
John Peter Hussman (born 15 October 1962), is an American philanthropist, economist, and hedge fund manager. Early life Hussman holds a PhD in economics from Stanford University, as well as a master's degree in education and social policy and a bachelor's degree in economics from Northwestern University. Career Academic From 1992 to 1998, he was Professor of Economics and International Finance at the University of Michigan. Investing In the mid-1980s, Hussman worked as an options mathematician for Peters & Company at the Chicago Board of Trade, and in 1988 founded his investment company, now known as Hussman Strategic Advisors. After spending much of the early-1990s as a "lonely raging bull", he became increasingly bearish in the late-1990's. He successfully anticipated the collapse of dot-com bubble, as well as the 2008 financial crisis, then reversed his view about valuations after the market collapse in late-2008, declaring “U.S. stocks are now undervalued”. By Septemb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carmen M
''Carmen'' () is an opera in four acts by the French composer Georges Bizet. The libretto was written by Henri Meilhac and Ludovic Halévy, based on the novella of the same title by Prosper Mérimée. The opera was first performed by the Opéra-Comique in Paris on 3 March 1875, where its breaking of conventions shocked and scandalised its first audiences. Bizet died suddenly after the 33rd performance, unaware that the work would achieve international acclaim within the following ten years. ''Carmen'' has since become one of the most popular and frequently performed operas in the classical canon; the " Habanera" and "Seguidilla" from act 1 and the " Toreador Song" from act 2 are among the best known of all operatic arias. The opera is written in the genre of ''opéra comique'' with musical numbers separated by dialogue. It is set in southern Spain and tells the story of the downfall of Don José, a naïve soldier who is seduced by the wiles of the fiery gypsy Carmen. José aba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kenneth S
Kenneth is a given name of Gaelic origin. The name is an Anglicised form of two entirely different Gaelic personal names: ''Cainnech'' and '' Cináed''. The modern Gaelic form of ''Cainnech'' is ''Coinneach''; the name was derived from a byname meaning "handsome", "comely". Etymology The second part of the name ''Cinaed'' is derived either from the Celtic ''*aidhu'', meaning "fire", or else Brittonic ''jʉ:ð'' meaning "lord". People Fictional characters * Kenneth Widmerpool, character in Anthony Powell's novel sequence ''A Dance to the Music of Time'' * Kenneth Parcell from 30 Rock Places In the United States: * Kenneth, Minnesota * Kenneth City, Florida In Scotland: * Inch Kenneth Inch Kenneth () is a small grassy island off the west coast of the Isle of Mull, in Scotland. It is at the entrance of Loch na Keal, to the south of Ulva. It is part of the Loch na Keal National Scenic Area, one of 40 in Scotland. It is within ..., an island off the west coast of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mark Zandi
Mark M. Zandi (born 1959) is an Iranian-American economist who is the chief economist of Moody's Analytics, where he directs economic research. Zandi's research interests encompass macroeconomics, financial markets and public policy. He analyzes the economic impact of government spending policies and monetary policy response. A trusted advisor to policy makers, he has testified before Congress on the economic outlook, the nation's fiscal challenges, fiscal stimulus and financial regulatory reform. Zandi also publishes on mortgage finance reform and the determinants of foreclosure and personal bankruptcy. In 2005, he was one of the first economists to warn of an impending financial crisis that became the 2008 financial crisis. Early life and education Zandi was born in Atlanta, Georgia, and is of Iranian descent. The son of Professor Iraj Zandi, he grew up in Radnor, Pennsylvania. Zandi received his B.S. in economics from the Wharton School of the University of Pennsylvania and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Stiglitz
Joseph Eugene Stiglitz (; born February 9, 1943) is an American New Keynesian economist, a public policy analyst, political activist, and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is a former senior vice president and chief economist of the World Bank. He is also a former member and chairman of the U.S. Council of Economic Advisers. He is known for his support for the Georgist public finance theory and for his critical view of the management of globalization, of ''laissez-faire'' economists (whom he calls " free-market fundamentalists"), and of international institutions such as the International Monetary Fund and the World Bank. In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. He has been a member of the Columbia faculty since 2001 and received the university's highest academ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Spending
Consumer spending is the total money spent on final goods and services by individuals and households. There are two components of consumer spending: induced consumption (which is affected by the level of income) and autonomous consumption (which is not). Macroeconomic factors Taxes Taxes are a tool in the adjustment of the economy. Tax policies designed by governments affect consumer groups, net consumer spending and consumer confidence. Economists expect tax manipulation to increase or decrease consumer spending, though the precise impact of specific manipulations are often the subject of controversy. Underlying tax manipulation as a stimulant or suppression of consumer spending is an equation for gross domestic product (GDP). The equation is GDP = C + I + G + NX, where C is private consumption, I is private investment, G is government and NX is the net of exports minus imports. Increases in government spending create demand and economic expansion. However, government spendin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rana Foroohar
Rana Aylin Foroohar (née Dogar; born March 4, 1970) is an American author, business columnist and an associate editor at the ''Financial Times''. She is also CNN's global economic analyst. Life and career Foroohar was born Rana Aylin Dogar in Frankfort, Indiana, graduating from Frankfort Senior High School in 1988. Her father Aygen Erol Dogar is a Turkish immigrant and an engineer who started a small manufacturing business in the Midwest. Her mother Ann was a school teacher, and herself the daughter of immigrants from Sweden and England. In 1992, Foroohar graduated from Barnard College with a B.A. in English literature. Foroohar spent thirteen years at ''Newsweek'', as an economics and foreign affairs editor and as a London-based correspondent covering Europe and the Middle East. During that time, she was awarded the German Marshall Fund's Peter Weitz Prize for transatlantic reporting. She has also received awards and fellowships from institutions such as the Paul H. Nitze Sc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
