the current account balance; the net flow of liquid assets to the citizens of a particular country. The external balance includes the trade balance, net foreign factor income, and net foreign aid *received*. Usually the main cause of an external deficit is a trade deficit.
by Abu Yahya February 14, 2009
Get the external balance mug.(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.(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.(US LAW) a legal ruling that consists of a decision in which the two parties (the plaintiff and the defendant) consent to some action by the defendant in exchange for a suspended sentence. For example, a husband who is a defendant in a domestic violence case may agree to psychiatric counseling in exchange for not going to prison for assaulting his wife.
The agreement has to be reached beforehand by the parties and then the court may (or may not) approve of the agreement. When it does, that's a consent decree.
The agreement has to be reached beforehand by the parties and then the court may (or may not) approve of the agreement. When it does, that's a consent decree.
WASHINGTON, July 14 /PRNewswire-USNewswire/ -- The Justice Department today announced a court-approved consent decree which resolves a lawsuit against the state of New York and its public university systems for their failure to provide voter registration services at offices serving students with disabilities at each public university and college campus in New York State.
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Under the consent decree, by the start of the 2010-2011 school year, disability services offices at each public university and college campus in the state will provide voter registration services to students with disabilities.
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Under the consent decree, by the start of the 2010-2011 school year, disability services offices at each public university and college campus in the state will provide voter registration services to students with disabilities.
by Abu Yahya July 15, 2010
Get the consent decree mug.(FINANCE) a type of bank that raises money for clients by issuing stock (see initial public offering and follow-on offering) or by issuing bonds.
Prior to the repeal (1999) of the Glass-Steagall Act, commercial banks and investment banks were required to be separate entities. Subsequently, the law was changed so that a bank holding company could own a commercial bank and an investment bank. Outside of the USA, commercial banks have always been allowed to engage in underwriting securities.
Investment banks usually sell shares of stock on a major exchange, such as the NYSE or NASDAQ. They give a fixed amount of money to the borrower, but also an agreed-upon number of shares, so if the shares soar in price after the public offering, then the investment bank makes an immense amount of money.
Investment banks also underwrite other kinds of securities, such as bonds.
Prior to the repeal (1999) of the Glass-Steagall Act, commercial banks and investment banks were required to be separate entities. Subsequently, the law was changed so that a bank holding company could own a commercial bank and an investment bank. Outside of the USA, commercial banks have always been allowed to engage in underwriting securities.
Investment banks usually sell shares of stock on a major exchange, such as the NYSE or NASDAQ. They give a fixed amount of money to the borrower, but also an agreed-upon number of shares, so if the shares soar in price after the public offering, then the investment bank makes an immense amount of money.
Investment banks also underwrite other kinds of securities, such as bonds.
Goldman Sachs is the largest and most successful investment bank in the USA. Prior to 1999 it was a limited partnership; now it is a publicly traded corporation and also a bank holding company.
by Abu Yahya September 25, 2010
Get the investment bank mug.(ECONOMICS) the capital that a business sells in order to make money. The obvious example is the inventory of a convenience store; in this case, the circulating capital is the merchandise, and the fixed capital includes the cash register, the display racks, and so on.
In other cases, the circulating capital consists of raw materials or supplies; for example, a mechanic has transmission fluid or air filters, while a dress maker has muslin and thread.
In other cases, the circulating capital consists of raw materials or supplies; for example, a mechanic has transmission fluid or air filters, while a dress maker has muslin and thread.
An entrepreneur makes money by hanging onto fixed capital as long as possible, and getting rid of circulating capital as fast as possible.
by Abu Yahya May 04, 2010
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Follow-on offerings account for a little over 83% of new finance capital raised on the NYSE. The other 17% was initial public offering (IPO).
Follow-on offerings account for a little over 83% of new finance capital raised on the NYSE. The other 17% was initial public offering (IPO).
Between 1 January and 31 August 2010, 46 companies had made an initial public offering on the NYSE; another 33 had made a follow-on offering. But while the IPO's accounted for $9.5 billion, the FOO's accounted for almost $55 billion.
by Abu Yahya September 29, 2010
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