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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 European economic crises of 2007–2012. 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, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Household Debt In Great Britain 2008-10
A household consists of two 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, Roommate, shared housing, group homes, boarding houses, house in multiple occupation, houses of multiple occupancy (UK), and single room occupancy (US). In feudalism, feudal societies, the royal household and medieval households of the wealthy included Domestic worker, 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 contr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Janet Yellen
Janet Louise Yellen (born August 13, 1946) is an American economist serving as the 78th United States secretary of the treasury since January 26, 2021. She previously served as the 15th chair of the Federal Reserve from 2014 to 2018. Yellen is the first woman to hold each of those posts and the first person to have led the White House Council of Economic Advisers, the Federal Reserve, and the Treasury Department. Born and raised in Bay Ridge, Brooklyn, Yellen graduated from Brown University in 1967 and earned a Ph.D. in economics from Yale University in 1971. She taught as an assistant professor at Harvard University from 1971 until 1976 when she began working for the Federal Reserve Board as a staff economist from 1977 to 1978 before joining the faculty of the London School of Economics from 1978 to 1980. Yellen is professor emeritus at the Haas School of Business and the University of California, Berkeley, where she has been a faculty member since 1980 and became the Eugene E. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kenneth Rogoff
Kenneth Saul Rogoff (born March 22, 1953) is an American economist and chess Grandmaster. He is the Thomas D. Cabot Professor of Public Policy and professor of economics at Harvard University. Early life Rogoff grew up in Rochester, New York. His father was a professor of radiology at the University of Rochester. Rogoff received a BA and MA from Yale University '' summa cum laude'' in 1975, and a PhD in Economics from the Massachusetts Institute of Technology in 1980. Chess At sixteen Rogoff dropped out of high school to concentrate on chess. He won the United States Junior Championship in 1969 and spent the next several years living primarily in Europe and playing in tournaments there. However, at eighteen he made the decision to go to college and pursue a career in economics rather than to become a professional player, although he continued to play and improve for several years afterward. Rogoff was awarded the IM title in 1974, and the GM title in 1978. He was 3rd in t ... [...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. Since Kenneth T. Jackson's work in the 1980s, scholars have increasingly portrayed HOLC as a key promoter of redlining and a driver of racial residential segregation and racial wealth inequality in the United States. Organizational history HOLC was established as an emergency agency under Federal Home Loan Bank Board (FHLBB) supervision by the Home Owners' Loan Act of 1933, June 13, 1933. It was transferred with FHLBB and its components to the Federal Loan Agency by Reorganization Plan No. I of 1939, effective July 1, 1939. It was assigned with other components of abolished FHLBB to the F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% and ... [...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 Pr ... [...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 2008–09 global financial crisis, then reversed his view about valuations after the market collapse in late-2008, declaring “U.S. stocks are now undervaluedâ ... [...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" 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 abandons his childho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kenneth S
Kenneth is an English given name and surname. 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". A short form of ''Kenneth'' is '' Ken''. 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 :''(see also Ken (name) and Kenny)'' Places In the United States: * Kenneth, Indiana * Kenneth, Minnesota * Kenneth City, Florida In Scotland: * Inch Kenneth, an island off the west coast of the Isle of Mull Other * "What's the Frequency, Kenneth?", a song by R.E.M. * Hurricane Kenneth * Cyclone Kenneth Intense Tropical Cyclone Kenneth was the strongest tropical cyclone to make landfall in Mozambique since modern records began. The cyclone also caused significant damage in the Comoro Islands and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mark Zandi
Mark M. Zandi 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. He was one of the first economists to warn of the financial crisis of 2008 in 2005. 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 a Ph.D. in economics from the University of Pennsylv ... [...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, and a full 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 (US president's) Council of Economic Advisers. He is known for his support of 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 academic rank ( ... [...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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
