Showing 1 - 4 of 4
The case against subsidising housing debt
Business, Jeffrey Frankel, Published on 31/05/2017
» At the end of the first quarter, according to the Federal Reserve Bank of New York, consumer debt in the United States for the first time exceeded its previous peak (in dollars), reached in the third quarter of 2008, just as the global financial crisis erupted. Although car loans and student debt have been rising especially rapidly, housing debt remains more than two-thirds of the $12.7-trillion total.
Obama leaves with higher rating than predecessors
News, Jeffrey Frankel, Published on 16/01/2017
» Any assessment of Barack Obama's eight-year US presidency should start at the beginning: His first inauguration, on Jan 20, 2009. The US economy was in free-fall: Financial markets had seized up, GDP was shrinking, and employment was plummeting, with some 800,000 jobs being lost each month. And two ill-conceived and badly executed foreign wars were under way.
China's Stock-Market Red Herring
Business, Jeffrey Frankel, Published on 01/02/2016
» With the Shanghai composite index down more than 40% since last June, investors worldwide are watching the decline with growing concern -- but not because they are invested in the plummeting market (China stocks are overwhelmingly held by Chinese). Rather, the fear is that plunging equity prices mean that China's economy is going down the tubes.
It's time to overhaul the price of fuel
News, Jeffrey Frankel, Published on 13/08/2015
» World oil prices, which have been highly volatile during the last decade, have fallen more than 50% over the past year. The economic effects have been negative overall for oil-exporting countries, and positive for oil-importing countries. But what about effects that are not directly economic?