Stands for "currency-growth-debt" crisis. Climax of a CGD trap; the most famous example was Argentina in 2002.
by abu yahya June 23, 2008
Get the CGD crisis mug.(ECONOMICS) the central bank of the United States; often called "the Fed" for short. Sole bank of issue for the US dollar since 1971*; issuer of nearly all US currency since 1914.
Created in December 1913 through the Federal Reserve Act; while signed into law by Pres. Wilson, the basic outline of the FRB was developed by the Aldrich-Vreeland Committee (see Aldrich-Vreeland Act) during the Taft Administration (1909-1913).
In addition to issuing currency, the Fed is responsible for some (but not all) oversight of banks; management of the nation's money supply (using purchases and sales of US Treasury securities; see monetary policy); and management of a national check clearing system.
The Fed includes two central managing committees, the Federal Reserve Board and the Federal Open Market Committee (FOMC). It also has 12 district banks; each is known as a Federal Reserve Bank.
The Federal Reserve System is a member of the International Monetary Fund (IMF) and the Bank of International Settlements (BIS).
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*Until 1971, the US Treasury issued a small share of bank notes, or "national notes." They were almost identical in appearance to Federal Reserve notes.
Between 1863 and 1935, federally chartered banks national banks were allowed to issue currency equal to 90% of US treasury securities deposited with the US Treasury. After 1914, when the Fed commenced operations, it nearly stopped entirely.
Created in December 1913 through the Federal Reserve Act; while signed into law by Pres. Wilson, the basic outline of the FRB was developed by the Aldrich-Vreeland Committee (see Aldrich-Vreeland Act) during the Taft Administration (1909-1913).
In addition to issuing currency, the Fed is responsible for some (but not all) oversight of banks; management of the nation's money supply (using purchases and sales of US Treasury securities; see monetary policy); and management of a national check clearing system.
The Fed includes two central managing committees, the Federal Reserve Board and the Federal Open Market Committee (FOMC). It also has 12 district banks; each is known as a Federal Reserve Bank.
The Federal Reserve System is a member of the International Monetary Fund (IMF) and the Bank of International Settlements (BIS).
_______________________________________
*Until 1971, the US Treasury issued a small share of bank notes, or "national notes." They were almost identical in appearance to Federal Reserve notes.
Between 1863 and 1935, federally chartered banks national banks were allowed to issue currency equal to 90% of US treasury securities deposited with the US Treasury. After 1914, when the Fed commenced operations, it nearly stopped entirely.
The Federal Reserve System has twelve district banks, whose management is chose by bank holding companies. The president of each district bank is himself likely to have been an officer of a bank holding company. Hence, regulatory capture was built into the system from the beginning.
by Abu Yahya May 05, 2010
Get the Federal Reserve System mug.(ECONOMICS) ratio between a country's foreign exchange rate and the real purchasing power of its local currency.
The actual exchange rate between (say) the yen and the US dollar tells you nothing about the relative strength of the two currencies. The US dollar buys 92.57 yen (17 May 2010) right now, which sounds like a lot. But $100, converted into ¥9,257, only buys $71 worth of actual goods & services. In order for the yen:dollar exchange rate to reflect real purchasing power of the two currencies, the US dollar should be able to buy ¥130.
The real exchange rate for the US dollar against the Japanese yen is 1.41 (meaning the yen is costlier than the dollar in real terms).
The actual exchange rate between (say) the yen and the US dollar tells you nothing about the relative strength of the two currencies. The US dollar buys 92.57 yen (17 May 2010) right now, which sounds like a lot. But $100, converted into ¥9,257, only buys $71 worth of actual goods & services. In order for the yen:dollar exchange rate to reflect real purchasing power of the two currencies, the US dollar should be able to buy ¥130.
The real exchange rate for the US dollar against the Japanese yen is 1.41 (meaning the yen is costlier than the dollar in real terms).
The recent (March-May) fall of the euro against the US dollar has brought the real exchange rate of the two currencies into approximate parity.
by Abu Yahya May 18, 2010
Get the real exchange rate mug.German, *noun*: "foundation"; a type of business organization dating from the late 19th century in which one or more companies are owned by a foundation. The foundation, in turn, is governed not by shareholders, but by whomever is chartered as a stakeholder in the firm, such as workers, financial planners, local residents of the town where the firm operates, and so on.
The biggest company owned by a foundation is Robert Bosch GmBH, which is 92% owned by Robert Bosch Stiftung (Stuttgart, Germany). Bertelsmann AG (Guetersloh, Germany) is owned by the Bertelsmann-Stiftung, which appears to possess the largest endowment of any German foundation; the affiliated company owns an enormous media empire.
Plural: Stiftungen
The biggest company owned by a foundation is Robert Bosch GmBH, which is 92% owned by Robert Bosch Stiftung (Stuttgart, Germany). Bertelsmann AG (Guetersloh, Germany) is owned by the Bertelsmann-Stiftung, which appears to possess the largest endowment of any German foundation; the affiliated company owns an enormous media empire.
Plural: Stiftungen
The prevalence of the *Stiftung* in German industry probably contributed to the excellence of German manufactures, since the affiliated companies were managed by engineers.
by Abu Yahya February 23, 2009
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The term was coined by Arthur Okun and was inspired by the Phillips Curve.
The term was coined by Arthur Okun and was inspired by the Phillips Curve.
During the 1980's and '90's, Austria had the lowest misery index in the world. Unemployment rates AND inflation rates were almost nil.
by Abu Yahya February 14, 2009
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When the closing bell rang, he was ruined. All of his reserves were wiped out and he owed $6 million on margin.
by Abu Yahya May 05, 2010
Get the closing bell mug.Political movement in the USA that combines numerous conservative or rightwing movements into a surprisingly cohesive whole. The Conservative Movement (CM) successfully established a dominant role in the Republican Party, and nearly all GOP officials are affiliated with it.
Members of the Conservative Movement are known as "movement conservatives."
In the USA, political parties themselves are very weak and nebulous; historically, they are not bound to any particular ideology or constituency. Instead, parties take their ideological guidance from movements, which endorse candidates based on their commitment to the goals of that particular movement. Movements also marshall fundraising and organizing networks, binding candidates to elected officials and to affiliated thinktanks. The CM is distinguished because it captured an entire party, and tied it to an emphatically rightwing ideology.
The three components of the CM are the neoconservatives (neocons), religious right (theocons, "Moral Majority"), and the AEI-affiliated business conservatives (money cons).
Members of the Conservative Movement are known as "movement conservatives."
In the USA, political parties themselves are very weak and nebulous; historically, they are not bound to any particular ideology or constituency. Instead, parties take their ideological guidance from movements, which endorse candidates based on their commitment to the goals of that particular movement. Movements also marshall fundraising and organizing networks, binding candidates to elected officials and to affiliated thinktanks. The CM is distinguished because it captured an entire party, and tied it to an emphatically rightwing ideology.
The three components of the CM are the neoconservatives (neocons), religious right (theocons, "Moral Majority"), and the AEI-affiliated business conservatives (money cons).
More important, conservatives who embraced conspiratorial thinking shared a sufficient set of complaints, assumptions, and common enemies that united them with their more "respectable" cohorts in one movement. They swam in the same ideological waters as the broader conservative movement... and. above all, participated in building one mobilization out of their common grievances against American liberalism.
Lisa McGirr, *Suburban Warriors* (2002)
Lisa McGirr, *Suburban Warriors* (2002)
by Abu Yahya May 29, 2009
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