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Brighter side of web - economics
If you would like to ask a question on economics, you are free to leave a comment on my economics blog. Free Economics Help
I studied Politics, Philosophy and Economics at Oxford University (Lady Margaret Hall) before becoming an economics teacher. I run 2 economics Blogs
- Economics Essays- Longer essays, primarily about UK and US economy.
- Economics Textbooks
- Why Textbooks can be wrong
- Economomics Help - blog topics on a variety of things, including answers to readers questions
I also have a blog on personal finance, mortgages and debt: Finance Blog - Helping to simplify personal finance. Including topics such as Top 10 Financial Products to avoid
Interesting blog entry here by Darren Rowse about why people unsubscribe from a blog RSS. Quite high up on the list is
- Too many posts
- Posts frequently go off topic.
With that in mind I won't be posting Economics in this blog any more. In case you do have an interest in the latest economic news you can visit by UK economics Blog
In the UK levels of credit card borrowing is reaching unprecedented levels. Some have suggested this is the consumer generation. I think in the past people wouldn't have considered borrowing so much unsecured debt. Perhaps it is just a feature of modern society with so many enticing goods to buy.
The most important thing is to try and avoid missing statements and having unauthorised overdrafts. Always maintain the minimum payments and always try to pay off the high interest bearing accounts first. If possible try to consolidate your debts in one place where you can get the lowest interest rates.
India’s current economic growth is likely to soon push it into the position as the 5th biggest economy in the world. Already in terms of purchasing power the Indian economy is ranked as the third largest
Economic growth is currently averaging 5-6% and there are signs that this is likely to continue in the future.
Despite the recent surprise in inflation reaching an 11 year high of 3% and interest rates rising again it is worth bearing in mind that the general state of the UK economy is remarkably good. This good overview of the UK economy is generally backed up by a report from a report by Ernst and Young recently published. These are several reasons to be bullish about the state of the UK economy.
- Strong and continued economic growth. Economic growth is currently 3% and is forecast to be 3% throughout the year into 2008 Economic growth has been positive since the middle of 1992 making one of the longest periods of continuous economic growth on record. It appears that the UK is no longer subject to economic cycles. It is worth remembering in the 1970s and 1980s the economy was particularly volatile with two very deep recessions of 1981 and 1991.
Even if you have no interest in Economics (which is quite understandable) a significant devaluation of the dollar will effect us all. On the plus side American imports will be much cheaper. A new Apple laptop now looks quite affordable. However the devaluation could cause serious problems for the world economy if it continues to fall.
Basically there are serious imbalances in the US economy. They have a very significatn "triple" deficits.
- A Current Account Deficit (trade deficit) of $700 bn
- Govt debt (spending more than they receive in tax)
- High levels of consumer debt.
Combined with falling house prices. This doesn't make a good combination and could lead to a loss in confidence in the American economy which will translate into a falling dollar.
If you are interested in reading more. Here is an article at my Economics Blog
My profession is an economics teacher. Occasionally I am inspired to write on Economics. At the moment I am interested in the UK housing market. I think the price of houses is the most popular topic at dinner parties in the UK, 2nd only to the weather.
It is also one of the favourite topics for the front page of the Daily Mail, who are renowned for a bizarre choice of front pages, unrelated to the news. Quite recently when the Stern report (on global warming and future well being of the planet) came out. It was on the front page of all major newspapers. Except of course the daily mail.
Anyway here are my arguments that house prices will fall?
and being an economist. I am of course obliged to write a "on the other hand"
