Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

3/10/2014 (2 years ago)

Catholic Online (

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.


By Catholic Online (NEWS CONSORTIUM)

Catholic Online (

3/10/2014 (2 years 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'

Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for SEPTEMBER 2016
Centrality of the Human Person: That each may contribute to the common good and to the building of a society that places the human person at the center.
Evangelization: Mission to Evangelize: That by participating in the Sacraments and meditating on Scripture, Christians may become more aware of their mission to evangelize.


More Business & Economics

Another warning. The world is about to run low on JOBS as automation takes over Watch

Image of What will we do in a world without work?

By Marshall Connolly (CALIFORNIA NETWORK)

More data and more warnings. The fourth industrial revolution has started. It will be jobless and many people will lose their employment, or be forced to compete for their jobs. The result is, you will probably be unemployed, or accept low wages to survive. LOS ... continue reading

Don't like my writing? Then meet my replacement! - A.I. to replace journalists starting NOW Watch

Image of Many jobs are surprisingly vulnerable to automation.

By Marshall Connolly (CALIFORNIA NETWORK)

Don't like my writing? Then meet my replacement! Robot journalists are rolling out in England and Ireland and they are the first of a new wave of AI that can take over jobs requiring critical thinking skills. LOS ANGELES, CA (California Network) -  The first robo ... continue reading

The world is $152 TRILLION in DEBT - Global economic collapse looms as governments struggle Watch

Image of The world is drowning in debt and it's not likely to be paid off anytime soon. The implications of this are disastrous.

By Marshall Connolly (CALIFORNIA NETWORK)

The world is on track to enter a deep, global recession unless it begins paying down its debts. This is the risk the world faces as the International Monetary Fund reports the world is $152 trillion in debt. LOS ANGELES, CA (California Network) - The world is deep in ... continue reading

Robots take over pizza joint! Fast food jobs due to be phased out Watch

Image of Zume pizza is making pizza with robots. In the next few years, the fast food industry is expected to automate significantly.

By Marshall Connolly (CALIFORNIA NETWORK)

A pizza startup in Silicon Valley is about to change the way you get your pizza, and possibly many of your other meals as well. Zume pizza is using robots to make your pizza and has plans to fully automate the process. Robots are on their way into restaurants across ... continue reading

Are Americans WRONG about work? How a Catholic approach to work actually increases profits Watch

Image of Ironworkers building the Rockefeller Center take lunch in this iconic photo from New York. (1932)

By Marshall Connolly (CALIFORNIA NETWORK)

Are Americans wrong about work? New research and practical experience suggests we Americans are wrong about work, and that if we want to be more productive, we may have to work less. LOS ANGELES, CA (California Network) - The news from Sweden is promising. Some workers ... continue reading

The economic problem that could destroy America TODAY Watch

Image of Stagnant wages are a threat to our already weak economy. Fortunately, there's a positive trend as some employers begin hiking wages.

By Marshall Connolly (CALIFORNIA NETWORK)

The economy is growing slowly, and the bad news comes at a time when the Federal Reserve is contemplating an interest rate hike. The combination of a sluggish economy and rising interest rates could lead to a recession. LOS ANGELES, CA (California Network) - The U.S. ... continue reading

Business Management Expert Patrick Lencioni Applies Expertise To Catholic Parishes

Image of


Amazing Parish ministry prepares to send 14,000 copies of "The Better Pastor" to parishes around the country. New York Times best-selling author Patrick Lencioni is best known for books such as Death By Meeting and The Five Dysfunctions of A Team that use extended ... continue reading

Middle class continues to collapse into poverty - but here's how we can stop it Watch

Image of The middle class is shrinking, and it's largely its own fault. Middle class voters commonly vote against their own self interest.

By Marshall Connolly (CALIFORNIA NETWORK)

The middle class is going extinct, according to another new study. The result confirms what many fear, changes in the economy are not favorable to those in the middle. We are not prepared for the changes that are occurring. LOS ANGELES, CA (California Network) - The ... continue reading

Their fault? Millennials earning less than any previous generation since before WWII Watch

Image of Boomers still hold the upper hand, but they're slipping with age. Millennial influence is growing, so their attitudes and beliefs matter.

By Marshall Connolly (CALIFORNIA NETWORK)

Something is wrong with our economy, and the future is more troubling that it has been in almost a century. A study reveals that British millennials are earning less than their parents. The implications  are staggering. LOS ANGELES, CA (California Network) - A ... continue reading

Newsprint continues to decline and these FOUR companies are making all the money on the internet Watch

Image of Most people don't want the newspaper anymore, even if it were free.

By Marshall Connolly (CALIFORNIA NETWORK)

A Pew survey reveals that newsprint is dying and more people are turning to the internet and video for their news. Newspapers have lost 7 percent of their daily circulation over the past year alone. LOS ANGELES, CA (California Network) - The 13th annual Pew Research ... continue reading

All Business & Economics News


Newsletter Sign Up icon

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

Subscribe to Catholic OnlineYouTube Channel

Daily Readings

Reading 1, Ephesians 5:21-33
21 Be subject to one another out of reverence for Christ.22 ... Read More

Psalm, Psalms 128:1-2, 3, 4-5
1 [Song of Ascents] How blessed are all who fear Yahweh, who walk in his ... Read More

Gospel, Luke 13:18-21
18 He went on to say, 'What is the kingdom of God like? What shall I ... Read More

Saint of the Day

Saint of the Day for October 25th, 2016 Image

St. Daria
October 25: There is very little known about them. ... Read More