Abu Yahya's definitions
(ECONOMICS) Total unemployed, as a percent of the civilian labor force (official unemployment rate). Does not include discouraged workers. Also referred to as "U-3" by the US Bureau of Labor Statistics (BLS).
The BLS regularly publishes six estimates of unemployment. The others are U-1, U-3, U-4, U-5, and U-6. Eurostat publishes one monthly estimate of unemployment for the European Union, which is approximately midway between U-3 and U-4.
The unemployment statistics for the USA are collected through a monthly Current Population Survey (CPS) (also known as the household survey) and an establishment survey.
The BLS regularly publishes six estimates of unemployment. The others are U-1, U-3, U-4, U-5, and U-6. Eurostat publishes one monthly estimate of unemployment for the European Union, which is approximately midway between U-3 and U-4.
The unemployment statistics for the USA are collected through a monthly Current Population Survey (CPS) (also known as the household survey) and an establishment survey.
Given the way the government's headline unemployment rate is calculated, it can never reach 14%. This is because the civilian labor force includes only people who are working or have looked for a job in the previous four weeks. When the economy gets really bad (like now), unemployed workers get discouraged and give up looking for jobs. This causes the civilian labor force to decline as fast or faster than total employment.
{Louis Woodhill, "On Track for 14% Unemployment," RealClearMarkets (12 Jan 2010)}
{Louis Woodhill, "On Track for 14% Unemployment," RealClearMarkets (12 Jan 2010)}
by Abu Yahya July 19, 2010
Get the headline unemployment mug.Less developed country; refers to countries such as Mexico or Egypt, where there is a semi-functional state and plans to stimulate industry, but very limited industrial development (relative to the total labor force).
by abu yahya June 24, 2008
Get the LDC mug.(FINANCE) a mutual fund that trades in commodities or commodity derivatives. This can include commodity index funds.
Usually a commodity fund makes its returns by trading derivatives rather than the underlying commodity.
by Abu Yahya April 15, 2010
Get the commodity fund mug.(FINANCE) department of a securities firm that specializes in repurchase agreements. A repurchase agreement is a type of short-term loan in which a borrower sells a security (like a share of stock) and agrees to buy the same security back in a few days.
From the point of view of the counterparty buying/re-selling the stock, this deal is known as a reverse-repo. Reverse-repos are useful to brokerages because they allow the brokerage to short the stock.
From the point of view of the counterparty buying/re-selling the stock, this deal is known as a reverse-repo. Reverse-repos are useful to brokerages because they allow the brokerage to short the stock.
Through a repo desk, the bank can finance short-term borrowings on behalf of itself and its clients. The repo desk makes money by charging interest on typically very short term loans - 1 to 5 days.
by Abu Yahya September 28, 2010
Get the repo desk mug.(POLICY) an extreme form of capitalism created in the immediate aftermath of a disaster. In some cases, as in Chile (1973), the disaster is a coup d'etat with the express purpose of imposing disaster capitalism. In other cases, such as the 2004 Indian Ocean tsunami, it is a genuine natural disaster that literally kills.
After some disasters, the authorities in some countries may well respond by imposing "reforms" that would have been impossible before. These include: (1) privatization of public property, making it unavailable to the indigenous people; (2) arbitrary elimination of laws ("deregulation"); and (3) slashing democratically chosen programs that help ordinary citizens ("austerity programs").
The concept was popularized in Naomi Klein's excellent 2007 book, *The Shock Doctrine*.
After some disasters, the authorities in some countries may well respond by imposing "reforms" that would have been impossible before. These include: (1) privatization of public property, making it unavailable to the indigenous people; (2) arbitrary elimination of laws ("deregulation"); and (3) slashing democratically chosen programs that help ordinary citizens ("austerity programs").
The concept was popularized in Naomi Klein's excellent 2007 book, *The Shock Doctrine*.
"Disaster capitalism" is neoliberalism imposed undemocratically. It exploits natural disasters, civil wars, foreign invasions, coups d'etat, terrorism, or explicit deception. It always seeks to make its changes irreversible.
Naomi Klein mostly blames the International Monetary Fund, but there are other culprits as well.
Naomi Klein mostly blames the International Monetary Fund, but there are other culprits as well.
by Abu Yahya July 10, 2010
Get the disaster capitalism mug.(FINANCE) private equity fund; business entity formed to pool money provided by investors in order to buy majority stakes in existing companies. A common practice is to then "take the company private," so that it no longer has shares trading on the stock market. The company is then restructured, so that it has entirely different management practices, or a different business strategy. Afterward, the PE fund will most likely re-sell the company on the stock market in a sponsored IPO.
PE funds are usually limited partnerships (LPs), which gives them special privileges of nondisclosure; most are organized in the State of Delaware. PEF's have sponsors, or "principals," who are responsible for organizing the fund and recruiting other investors. They are never "limited liability partnerships" (LLP's); apologies to Urban Dictionary for erroneously mixing them up in my definition for "private equity fund" and "hedge fund." The difference between the two is explained there.
Among the best-known PE funds are Blackstone Group*, Kohlberg Kravis Roberts (KKR)*, Goldman Sachs Capital Partners*, Carlyle Group, Permira, Apollo Management, Providence Equity, TPG Capital, Warburg Pincus, and Cerberus. Companies marked with an asterisk (*) are publicly listed corporations; most PE funds are privately managed. The selection above includes the largest ones by capital under management.
PE funds are usually limited partnerships (LPs), which gives them special privileges of nondisclosure; most are organized in the State of Delaware. PEF's have sponsors, or "principals," who are responsible for organizing the fund and recruiting other investors. They are never "limited liability partnerships" (LLP's); apologies to Urban Dictionary for erroneously mixing them up in my definition for "private equity fund" and "hedge fund." The difference between the two is explained there.
Among the best-known PE funds are Blackstone Group*, Kohlberg Kravis Roberts (KKR)*, Goldman Sachs Capital Partners*, Carlyle Group, Permira, Apollo Management, Providence Equity, TPG Capital, Warburg Pincus, and Cerberus. Companies marked with an asterisk (*) are publicly listed corporations; most PE funds are privately managed. The selection above includes the largest ones by capital under management.
The PE fund first appeared in the 1970's as a result of changes to ERISA. Institutional investors, usually pension funds, could be legal partners in an LP; they also required a place to park assets with very high rates of return.
In the USA, PE funds have long been sinecures for the most powerful political dynasties: the Rockefellers, the Romneys, the Bushes, and others.
In the USA, PE funds have long been sinecures for the most powerful political dynasties: the Rockefellers, the Romneys, the Bushes, and others.
by Abu Yahya September 2, 2010
Get the PE fund mug.in economics, the net income from assets that are owned by foreigners. The citizens of a country will own assets that are physically located overseas (for example, real estate in another country, shares of foreign stock, or even labor performed while an expatriate), and those assets earn income. At the same time, foreigners likewise earn income on assets located in ones' own country.
If domestically-owned assets located abroad earn more income than domestic assets owned by foreigners, then there will be a net flow of income from overseas. This is a collateral benefit to running a trade surplus, especially over several years.
An example might be the United Kingdom (UK) during the 19th century. Prior to the 1880's, the UK exported far more than it imported. With the foreign money, it bought assets in the economies of other countries, such as the USA, Continental Europe, and the future Commonwealth of Nations. These assets naturally earned a lot of income, as they accumulated over many decades. The income from these assets was so large that, after the 1880's, the UK ran a trade deficit but still had a current account surplus.
In the case of the UK, the current account surplus from the NFFI was still large enough that the UK could continue to buy foreign assets that earned income, even as its trade deficit grew during the early 20th century.
If domestically-owned assets located abroad earn more income than domestic assets owned by foreigners, then there will be a net flow of income from overseas. This is a collateral benefit to running a trade surplus, especially over several years.
An example might be the United Kingdom (UK) during the 19th century. Prior to the 1880's, the UK exported far more than it imported. With the foreign money, it bought assets in the economies of other countries, such as the USA, Continental Europe, and the future Commonwealth of Nations. These assets naturally earned a lot of income, as they accumulated over many decades. The income from these assets was so large that, after the 1880's, the UK ran a trade deficit but still had a current account surplus.
In the case of the UK, the current account surplus from the NFFI was still large enough that the UK could continue to buy foreign assets that earned income, even as its trade deficit grew during the early 20th century.
by Abu Yahya February 14, 2009
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