GDP -1.6%
Inflation 0.2%
Unemployment 8.1%
Markets -10.7%
Gallon of gas $1.99
Interest Rates 0% to 0.25%
Challenges Home prices have plummeted since the summer of 2007, devaluing many of banks’ holdings that were backed by mortgages. To prevent further losses, banks largely stopped lending. The economic downturn that ensued led the economy to shed 4.4 million jobs in the past 14 months.
Solutions The government flooded the frozen financial system with trillions of dollars of unprecedented liquidity programs, including a $700 billion bank bailout. After a $168 billion stimulus package unveiled in February 2008, the Obama administration produced another $787 billion stimulus plan in February 2009.
Inflation 0.1%
Unemployment 6.3%
Markets -11.2%
Gallon of gas $4.85
Interest Rates 0.5%
Challenges The pound fell to a 23-year low against the dollar in January 2009 as the banking sector continued to post historic losses. The country’s productivity and home values have plummeted, leading the nation’s economy into a recession.
Solutions Prime Minister Gordon Brown unveiled a $63 billion bailout for the banking sector in October. In January, the Bank of England set up a special fund to buy up to $74 billion of high-quality private sector assets. The new plan also created a wide scale insurance program aimed at protecting banks against further losses and guarantee bank assets backed by mortgages and other loans.
Russia
GDP -0.7%
Inflation 12%
Unemployment 8.1%
Markets 16.2%
Gallon of gas $2.81
Interest Rates 13%
Challenges Sinking natural gas and oil prices have shrunk exports. Russian banks have been hit particularly hard by the credit crisis because they hold significantly more in foreign debt than national assets. The rapidly declining ruble has some worried about out-of-control inflation.
Solutions The central bank set up a $50 billion lending facility for financial institutions in October. A month later, the government sent another $28 billion to banks. The central bank has also worked to lower interest rates to control inflation.
Mexico
GDP -0.3%
Inflation 6.2%
Unemployment 5%
Markets -9.3%
Gallon of gas $2.19
Interest Rates 6.75%
Challenges The Mexican economy’s close ties with the U.S. economy slowed growth to a near-standstill by the end of 2008, especially due to the drastically lower price of oil exports to the United States. The economic situation has increased tension between the two nations, as budgetary constraints keep the United States from helping to quell an escalation of drug-related violence near the border.
Solutions The Mexican government announced a $54 billion stimulus plan on Jan. 7 that increased public works spending and froze prices on gasoline, natural gas and electricity. The government also said it would invest in small businesses in an attempt to boost the struggling labor market.
Japan
GDP -2.6%
Inflation 0%
Unemployment 4.1%
Markets -4.2%
Gallon of gas $4.09
Interest Rates 0.1%
Challenges The Nikkei hit another 26-year low in mid-March after rebounding slightly in the beginning of 2009. The housing crisis and inability to export goods that were once in high-demand have led to rising unemployment.
Solutions To ease credit, the government cut interest rates in October for first time in more than seven years, and trimmed them again in December. The Bank of Japan also unveiled a $100 billion plan to buy up bank loans. In October, the government unveiled a $275 billion stimulus package, including loans for small and medium-sized businesses, as well as tax rebate checks to households. Prime Minister Taro Aso called on the government to provide even more stimulus in March.
India
GDP 5.1%
Inflation 10.4%
Unemployment 6.8%
Markets -7%
Gallon of gas $4.06
Interest Rates 5.5%
Challenges In the last two months of 2008 and first month of 2009, the Indian economy expanded, but yielded the slowest growth in more than five years. Rescue options are limited with soaring inflation, an escalating budget deficit and a mounting liquidity crisis.
Solutions The central bank lent $37.4 billion to financial institutions in October in an effort to boost credit. In December, the government unveiled an $8 billion stimulus package that includes tax cuts, small business spending and a program to help troubled homeowners.
Iceland
GDP -10%
Inflation 17.6%
Unemployment 6.6%
Markets -9%
Gallon of gas $8.20
Interest Rates 18%
Challenges This tiny country suffered near total economic collapse in 2008 in the wake of the global crisis. Iceland’s three largest banks, which held assets 10 times larger than the entire country’s economy, failed in October. As a result, Iceland’s central bank went bankrupt and the stock market crashed. The Krona fell nearly 67% against dollar in 2008 before stabilizing in early 2009.
Solutions Iceland has received $5.1 billion from International Monetary Fund to stabilize the free-falling currency. Prime Minister Geir Haarde stepped down in February, and the new government is working on a massive financial sector restructuring plan that caps banks’ size and puts the country in a position to repay its massive debts.
Germany
GDP -2.5%
Inflation 1%
Unemployment 7.9%
Markets -11.9%
Gallon of gas $5.97
Interest Rates 1.5%
Challenges The German economy, which is Europe’s biggest, slid into its deepest recession since World War II in the third quarter of 2008I. Officials say they don’t expect to see any economic growth in 2009. The world’s largest exporter has seen a rapid decline in industrial production as global demand for goods has fallen sharply.
Solutions The government launched a $642 billion financial sector bailout in October in an attempt to prop up the nation’s banking system. Chancellor Angela Merkel’s government launched a $25 billion stimulus initiative in November, followed by another $66 billion plan in January, both of which include tax relief and infrastructure investments.
China
GDP 6.7%
Inflation -1.6%
Unemployment 9%*
Markets 22.1%
Gallon of gas $3.01
Interest Rates 5.31%
Challenges The country’s GDP fell to a 5-year low in 2008 as manufacturing exports slowed amid weak global demand. And mass layoffs at factories are worse than the official 9% unemployment rate suggests, since China does not track employment outside of major cities.
Solutions Premier Wen Jiabao’s government unveiled a $586 billion government stimulus package in November, aimed at boosting housing, health care and infrastructure, including more than $70 billion in tax breaks for struggling exporters. In mid-March, Wen said another stimulus may be needed to bring economic growth back up to 8%.
Brazil
GDP 1.8%
Inflation 5.9%
Unemployment 8.2%
Markets 6.9%
Gallon of gas $4.17
Interest Rates 11.25%
Challenges Sinking crude prices have dealt a tremendous blow to this oil-driven economy. Falling global demand for oil and manufactured goods have driven up unemployment, and in January, Brazil experienced a trade gap deficit for the first time in eight years. Many economists say the largest Latin American economy is in a recession.
Solutions President Luiz Inacio Lula da Silva’s administration boosted an existing government infrastructure plan, called the Accelerated Growth Program, by about $62 billion to $280 billion in February. The central bank has also orchestrated increased lending programs to banks, lower interest rates and currency swaps with the U.S. Federal Reserve.
Tags: brazil, China, financial crisis, germany, iceland, india, japan, mexico, rusia, UK, us
Log Home…
[...]that will be the end of this write-up. Right here you will find some internet sites that we assume you will enjoy, just click the links over[...]…
company awards…
[...]one of our visitors recently encouraged the following website[...]…
Check this out…
[...] that is the end of this article. Here you’ll find some sites that we think you’ll appreciate, just click the links over[...]……
dyson dc25 all floors…
[...]that is the finish of this article. Here you?ll uncover some websites that we consider you?ll value, just click the hyperlinks over[...]…
schwinn 420 elliptical review…
[...]check below, are some completely unrelated web-sites to ours, however, they are most trustworthy sources that we use[...]…
floor steamers…
[...]Sites of interest we have a link to[...]…
vacuum miele…
[...]very couple of web sites that transpire to be comprehensive below, from our point of view are undoubtedly properly really worth checking out[...]…
Gems form the internet…
[...]very few websites that happen to be detailed below, from our point of view are undoubtedly well worth checking out[...]……
breville toaster ovens…
[...]here are some links to web pages that we link to due to the fact we believe they are really worth visiting[...]…
Awesome website…
[...]the time to read or visit the content or sites we have linked to below the[...]……
Recommeneded websites…
[...]Here are some of the sites we recommend for our visitors[...]……
Visitor recommendations…
[...]one of our visitors recently recommended the following website[...]……
Online Article……
[...]The information mentioned in the article are some of the best available [...]……
You should check this out…
[...] Wonderful story, reckoned we could combine a few unrelated data, nevertheless really worth taking a look, whoa did one learn about Mid East has got more problerms as well [...]……
Links…
[...]Sites of interest we have a link to[...]……
News info…
I was reading the news and I saw this really cool topic…
btjunkie download…
[...]below you’ll find the link to some sites that we think you should visit btjunkie download[...]……
frostwire free download…
[...]The information mentioned in the article are some of the best available frostwire free download[...]……
Blogs ou should be reading…
[...]Here is a Great Blog You Might Find Interesting that we Encourage You[...]……
Read was interesting, stay in touch……
[...]please visit the sites we follow, including this one, as it represents our picks from the web[...]……
torrent pirate bay…
[...]we like to honor many other internet sites on the web, even if they aren’t linked to us, by linking to them. Under are some webpages worth checking out torrent pirate bay[...]……
isohunt music download…
[...]here are some links to sites that we link to because we think they are worth visiting isohunt music download[...]……
taking it all the way to the…
summit though, well, i wasn’t sure about that part.but i eagerly signed up for the hike and on a beautiful saturday morning, in late august, i met with eric kinneman and the tlc hiking group at the fort mcdowell casino and…
download bearshare…
[...]usually posts some very interesting stuff like this. If you’re new to this site download bearshare[...]……
free microsoft points…
[...]Sites of interest we have a link to free microsoft points[...]……
Great website…
[...]we like to honor many other internet sites on the web, even if they aren’t linked to us, by linking to them. Under are some webpages worth checking out[...]……
[...]If the company feels that you are not in a financial position to pay the loan back, the application will be declined[...]…
Simply put, payday loans are small and small term loans you pay for during your next paycheck…
Websites we think you should visit…
[...]although websites we backlink to below are considerably not related to ours, we feel they are actually worth a go through, so have a look[...]……
toronto escorts…
[...] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose toronto escorts [...]……
tournament is already having a great impact…
on the economies of both areas. the last european cup was also jointly hosted by the countries of austria and switzerland to great acclaim as spain beat germany one to zero to take their second championship (their first was in 1964).tickets…
ccleaner download…
[...] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose ccleaner download [...]……
feature which is very beneficial to customers…
is the simply filling out a free auto glass repair & replacement quote form online. all that needs to be provided is a name, phone number, email address(sometimes optional), zip code, year of the vehicle, make dallas windshield repair of the vehicle, …
Superb website…
[...]always a big fan of linking to bloggers that I love but don’t get a lot of link love from[...]……
Cool sites…
[...]we came across a cool site that you might enjoy. Take a look if you want[...]……
vlc media player…
[...] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose vlc media player [...]……
Sites we Like……
[...] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose [...]……
malwarebytes download…
[...] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose malwarebytes download [...]……
than a week and have at list…
one e-mail buddy then no doubt seen the free offers. have you ever responded and forwarded the e-mail? have you ever gotten your free gift? my answers are yes, i’ve tried it and no, i’ve never received a free gift. …
You should check this out…
[...] Wonderful story, reckoned we could combine a few unrelated data, nevertheless really worth taking a look, whoa did one learn about Mid East has got more problerms as well [...]……
Read was interesting, stay in touch……
[...]please check out the sites we follow, especially this particular one, as it represents our picks from the web[...]……
know when you will need new tires….
keep your eyes on the tire companies in your hometown so you know when they have a sale. often times before winter or in the spring the tire places will put their merchandise on sale. a seafood treat without a lobster…
screens, and thus it offers a delightful…
viewing experience in fast motion like tv ads or sports programs.â· the bigger the better! plasma tvs are available in various screen sizes from 37″ to 84″ making them much larger than lcd.thus plasma rental options make it possible for you…
and develop candida you get unusually high…
sugar cravings, this is bad because when you eat sugar you’re now feeding the candida as well as adding more weight to your body. this now becomes a dangerous cycle which can leave you almost powerless until it’s taken care of.how…
Awesome site…
[...] I’d tried over a few blogs for the purpose of original ideas and so I did [...]…
spaces. if you are environmentally conscious you…
definitely want to choose led bulbs over traditional lighting, because not only do they add elegance, but they will greatly reduce your carbon footprint by consuming far less energy than comparable light sources.the quality of the light produced by led…
Websites to visit…
[...] Actually ever reflect on where to go to for a weekend and end up going nowhere but hoping you’d [...]…
[...]the time to read or visit the content or sites we have linked to below the[...]……
[...]here are some links to sites that we link to because we think they are worth visiting[...]……
give up. whatever system you use, the…
basic is to group and file your coupons based on categories and expiration dates. this way you know at least the types of coupons you have and which coupons need to be used before they become worthless. being organized is the…
Superb website…
[...]always a big fan of linking to bloggers that I love but don’t get a lot of link love from[...]……
Smell Well And Attract Men…
[...]When you are aware when working at your projects you can do a lot more than if you are completely without ideas….