Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

3/10/2014 (1 year ago)

Catholic Online (www.catholic.org)

Governments borrowing in order to pull their economies out of recession one of leading causes

Everyone at some point seems to 'rob Peter to pay Paul' - especially international governments. During the European debt crisis, many nations borrowed money to keep their governments solvent. As a result, global debt increased by $30 trillion from the original amount between 2007 and the middle of last year, sending global debt over $100 trillion. A whopping 40 percent increase in what the world owes - what next?

The bank is owned by 60 central banks and hosts the Basel Committee on Banking Supervision, a group of regulators and central bankers that sets global capital standards.

The bank is owned by 60 central banks and hosts the Basel Committee on Banking Supervision, a group of regulators and central bankers that sets global capital standards.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

3/10/2014 (1 year ago)

Published in Business & Economics

Keywords: Bank for International Settlements, BIS, global debt


LOS ANGELES, CA (Catholic Online) - According to the Bank for International Settlements, or BIS, the $30 trillion increase from $70 trillion between mid-2007 and mid-2013 compares with a $3.86 trillion decline in the value of equities to $53.8 trillion in the same period. According to data compiled by Bloomberg, the jump in debt was measured by the Basel, Switzerland-based BIS in its quarterly review is almost twice the U.S.'s gross domestic product.

Yields on all types of bonds, from governments to corporations and mortgages, average about two percent. This is down from more than 4.8 percent in 2007, according to the Bank of America Merrill Lynch Global Broad Market Index.

Prayer, fasting and almsgiving.

"Given the significant expansion in government spending in recent years, governments (including central, state and local governments) have been the largest debt issuers," analyst Branimir Gruic, and Andreas Schrimpf, an economist at the BIS say.

The bank is owned by 60 central banks and hosts the Basel Committee on Banking Supervision, a group of regulators and central bankers that sets global capital standards.

According to U.S. Treasury data compiled by Bloomberg, marketable U.S. government debt outstanding has surged to a record $12 trillion, up from $4.5 trillion at the end of 2007. Corporate bond sales globally jumped during the period, with issuance totaling more than $21 trillion, Bloomberg data proves.

Concerned that high debt loads would cause international investors to avoid their markets, many nations resorted to austerity measures of reduced spending and increased taxes. These nations belatedly try to restore the fiscal order they discarded in order to fight the worldwide recession.

Adjusting budgets to ignore interest payments, the International Monetary Fund said late last year that the so-called primary deficit in the Group of Seven countries reached an average 5.1 percent in 2010 when also smoothed to ignore large economic swings. The measure will fall to 1.2 percent this year, according to predictions.

The unprecedented retrenchments between 2010 and 2013 amounted to 3.5 percent of U.S. gross domestic product and 3.3 percent of euro-area GDP, according to Julian Callow, chief international economist at Barclays Plc in London.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for May 2015
Universal:
That, rejecting the culture of indifference, we may care for our neighbours who suffer, especially the sick and the poor.
Evangelization: That Mary's intercession may help Christians in secularized cultures be ready to proclaim Jesus.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More Business & Economics

New York Times reports substantial loss in spite of digital growth Watch

Image of There has been a move to make the newspaper more attractive to readers. The newspaper's cooking product, a hub for recipes and food-related content, has been free since its introduction.

By Catholic Online (NEWS CONSORTIUM)

In just one of growing death knells of the daily print newspaper, the iconic New York Times reported a hefty $15 million loss for the first quarter of 2015. Digital subscriptions continue to show solid growth. Digital advertising grew at a double-digit pace. ... continue reading


Shakeup at Walt Disney Parks -- information technology employees replaced by non-immigrant workers Watch

Image of Both Disneyland and Walt Disney World certainly were not the happiest places on Earth for many employees at the beginning of this year.

By Catholic Online (NEWS CONSORTIUM)

Both Disneyland and Walt Disney World certainly were not the happiest places on Earth for many employees at the beginning of this year. Multiple layoffs went around to many several information technology employees and were told their final day would be January ... continue reading


Apple can't seem to spend money fast enough as profits soar and cash reaches a staggering $194 billion Watch

Image of At Apple - the company can't seem to spend money fast enough.

By Catholic Online (NEWS CONSORTIUM)

Digital gadget maker Apple has ended the first calendar quarter with $33 billion in cash and short-term investments and $160.4 billion in long-term investments. Apple currently has $194 billion in cash and investments, more than any other non-financial company ... continue reading


Meet the billionaires who pledged to give up their fortunes to change the world Watch

Image of

By Talia Ramos (NEWS CONSORTIUM)

Through the "Giving Pledge," men and women belonging to the upper crust of the society, with billions of dollars in their name, commit to donating a large chunk of their fortune, whether through their lifetime or through their will. Coming from the majority of their ... continue reading


World's discarded electronic junk building up into massive toxic dump Watch

Image of Less than 16 percent of global e-waste is being diverted from landfill into recycling and reuse.

By Catholic Online (NEWS CONSORTIUM)

Television sets, washers and driers, stereos - broken, discarded, and then thrown away, are creating a massively toxic waste dump of gargantuan proportions. The irony in all this "e-waste" is the fact that precious metals such as gold and silver are also thrown ... continue reading


Australian father-and-son team raises $10 MILLION for beehive project Watch

Image of The beehive symbolizes productive activity, and for father and son Cedar and Stuart Anderson of Australia, their project was literally that.

By Catholic Online (NEWS CONSORTIUM)

The beehive symbolizes productive activity, and for father and son Cedar and Stuart Anderson of Australia, their project was literally that. Nearly 30,000 people have funded their "Flow Hive" project on Indiegogo for $10 million dollars. Not bad at all for such ... continue reading


'Slow ya roll' Obama. You spoke too soon? Job growth suddenly slows down Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

Intent on rallying the nation on its improved economy, U.S. President Barack Obama appears increasingly aware that threats are gaining speed that could derail job growth. LOS ANGELES, CA (Catholic Online) - "Our economy has been growing, we've got momentum," ... continue reading


Federal taxes unbelievably through the roof for February Watch

Image of Uncle Sam took in a lot of cabbage for the first few months of 2015. Why is the U.S. still trailing a momentous deficit, then?

By Catholic Online (NEWS CONSORTIUM)

Uncle Sam took in a lot of cabbage for the first few months of 2015. Inflation-adjusted federal tax revenues hit a record $1,185,613,000,000 in the first five months of fiscal 2015. Why is it that the U.S. federal government still ran a $386,537,000,000 deficit ... continue reading


Top 10 most financially important cities in the world Watch

Image of

By Hannah Raissa Marfil (NEWS CONSORTIUM)

New York City is still the most important center in the financial world, according to the latest ranking made by the Long Finance in The Global Financial Index 17. In the latest rankings, it was observed that more cities in Asia are becoming important within the world ... continue reading


Apple topples AT&T from Dow Jones in reflection of iPhone's dominant position Watch

Image of The move by S&P Dow Jones Indices had been widely anticipated since a seven-for-one stock split in June 2014.

By Catholic Online (NEWS CONSORTIUM)

Largest company in the world, Apple will join the Dow Jones Industrial Average to replace AT&T. The change reflects the dominant position of the iPhone maker in the U.S. consumer economy today. The figures tell the tale: Apple has a market capitalization of ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Acts 15:1-6
1 Then some men came down from Judaea and taught the ... Read More

Psalm, Psalms 122:1-2, 3-4, 4-5
1 [Song of Ascents Of David] I rejoiced that they ... Read More

Gospel, John 15:1-8
1 I am the true vine, and my Father is the ... Read More

Saint of the Day

Saint of the Day for May 6th, 2015 Image

Bl. Edward Jones
May 6: Blessed Edward Jones and Anthony Middleton, Martyrs Edward Jones ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter