abu yahya's definitions
(ECONOMICS) adjusted for the time of year the data refer to.
Economic statistics are often reported as rates of change from month to month, or quarter to quarter. However, some months, such as November and December, have very high retail sales, while May through September have very high home sales. For this reason, data is sometimes "seasonally adjusted" to offset ordinary seasonal variations.
The US Federal Reserve System reports changes in GDP from quarter to quarter in annualized form; so, for example, during the last quarter of 2004, US GDP was (about) $3,044.6 billion. But it was reported as an annualized (and seasonally adjusted) $11734.9. If you divide that by 4 you get 2957.8, which reflects the fact that the Fed shaved 86.8 billion off its estimate of economic activity for 2004Q4 and reallocated it to Q1 & Q2.
The reason the Fed (and everyone else) does this is to measure economic change separately from the usual seasonal change in business activity.
Economic statistics are often reported as rates of change from month to month, or quarter to quarter. However, some months, such as November and December, have very high retail sales, while May through September have very high home sales. For this reason, data is sometimes "seasonally adjusted" to offset ordinary seasonal variations.
The US Federal Reserve System reports changes in GDP from quarter to quarter in annualized form; so, for example, during the last quarter of 2004, US GDP was (about) $3,044.6 billion. But it was reported as an annualized (and seasonally adjusted) $11734.9. If you divide that by 4 you get 2957.8, which reflects the fact that the Fed shaved 86.8 billion off its estimate of economic activity for 2004Q4 and reallocated it to Q1 & Q2.
The reason the Fed (and everyone else) does this is to measure economic change separately from the usual seasonal change in business activity.
BILL: Hey! This data on GDP growth is way different from that data.
ANNA: That's because one set of data is seasonally adjusted. The Fed tweaked the numbers so economic growth from quarter to quarter reflects changing economic conditions, instead of ordinary yearly cycles.
BILL: You mean it's not an evil plot?
ANNA: It's an evil plot to make you forget about Christmas shopping season and labor day white sales.
BILL: Gasp! You mean the Fed is behind the War on Christmas?????
ANNA: That's because one set of data is seasonally adjusted. The Fed tweaked the numbers so economic growth from quarter to quarter reflects changing economic conditions, instead of ordinary yearly cycles.
BILL: You mean it's not an evil plot?
ANNA: It's an evil plot to make you forget about Christmas shopping season and labor day white sales.
BILL: Gasp! You mean the Fed is behind the War on Christmas?????
by Abu Yahya September 8, 2010
Get the seasonally adjusted mug.Capital (in economics) refers to either equipment used to produce goods (tools, factory buildings, infrastructure) or money that is currently used to pay for business ventures. Capital accounts refers to the balance of investment that a country receives from, or supplies to, other countries over the course of a business period. So, for example, in the course of a year the people in country A may buy $1.5 million in shares and bonds from overseas, and sell $900,000 of the same (for net capital exports of $600K); meanwhile, foreigners might buy $1.2 million in shares, etc., while selling $800K of the same (capital imports of $400K). The country therefore exports $600K, imports $400K, and runs a net capital account balance of -$200K.
Over the short run, a capital account surplus can offset a current account deficit.
Over the short run, a capital account surplus can offset a current account deficit.
For the last 30 years the USA has run a surplus in its capital accounts, partly offsetting a gigantic deficit in current accounts.
by abu yahya September 28, 2008
Get the capital accounts mug.(ECONOMICS) when a government has to restructure spending by massively cutting social programs, development programs, and subsidies on basic necessities. Often accompanied by taxes increases, especially on lower incomes (since the poor cannot escape tax hikes).
Usually we use the term "austerity program" when the government in question has to backtrack on its ideological commitments. An example of this is France, after June 1982. The Socialist government of Mitterrand had just implemented a raft of major new social welfare programs, and was promptly forced to cut everything back when the deficit ballooned.
by Abu Yahya May 5, 2010
Get the austerity program mug.(FINANCE) on a financial derivative, the price at which the final transaction occurs. For example, the strike price of a call option is the price at which the owner of the option may buy the underlying item. If a call option is for 100 bbls of WTI crude oil at a strike price of $85.75/bbl, and the spot price is $86.50, then the option is worth (86.50 - 85.75) x 100 bbls = $75.
by Abu Yahya April 5, 2010
Get the strike price mug.(FINANCE) Used either as a noun: a situation in which a trader controls the supply of a traded item, such as shares of stock, supplies of a commodity, etc.
Or else, used as a verb: to obtain control over the supply of a thing, so that one can drive the price up to extremely high levels.
Cornering the market for anything (or getting a corner) is extremely difficult and requires not only immense amounts of money (usually borrowed for the purpose), but also timing and the ability to bluff opponents.
A corner is ultimately a long position in the sense that it is a direct attack on investors taking a short position.
Or else, used as a verb: to obtain control over the supply of a thing, so that one can drive the price up to extremely high levels.
Cornering the market for anything (or getting a corner) is extremely difficult and requires not only immense amounts of money (usually borrowed for the purpose), but also timing and the ability to bluff opponents.
A corner is ultimately a long position in the sense that it is a direct attack on investors taking a short position.
The corner must be timed very precisely, because it cannot last for more than a very short time. Even when the the price of the thing (like, say, silver) goes up to very, very high levels, more supplies cannot come onto the market or the corner will be lost.
At the same time, there has to be a target of the corner--some group of people who have to buy the cornered item no matter how high the price goes (otherwise, the quantity demanded will just go to zero). For this reason, corners are nearly always part of an attempt to squeeze the shorts.
At the same time, there has to be a target of the corner--some group of people who have to buy the cornered item no matter how high the price goes (otherwise, the quantity demanded will just go to zero). For this reason, corners are nearly always part of an attempt to squeeze the shorts.
by Abu Yahya April 5, 2010
Get the Corner mug.(ECONOMICS) Any of the 12 constituent district banks of the Federal Reserve System. Federal Reserve Banks may be referred to either by the number of the district they serve (e.g., 12th FRB) or by the city in which they are headquartered (e.g., FRB of San Francisco).
Representatives of the FRB's are eligible to serve on the Federal Open Market Committee (FOMC), the committee that actually administers monetary policy through sales or purchases of treasury securities.
The Federal Reserve Bank of New York (2nd FRB) is by far the most important of the 12 district banks. Each bank holding company is likely to have a subsidiary in NYC, and the 2nd District is uniquely guaranteed a seat on the FOMC. The other 11 rotate, with 4 taking a year-long turn at the FOMC at any given time.
Representatives of the FRB's are eligible to serve on the Federal Open Market Committee (FOMC), the committee that actually administers monetary policy through sales or purchases of treasury securities.
The Federal Reserve Bank of New York (2nd FRB) is by far the most important of the 12 district banks. Each bank holding company is likely to have a subsidiary in NYC, and the 2nd District is uniquely guaranteed a seat on the FOMC. The other 11 rotate, with 4 taking a year-long turn at the FOMC at any given time.
The Federal Reserve Bank of New York has historically supplied the secretaries of the Treasury or else the chairmen of the Federal Reserve Board.
by Abu Yahya May 5, 2010
Get the Federal Reserve Bank mug.Largest oil company in the world (as of 2010; in 2009, it was #2). Sales in 2009 were $285 billion. Worldwide proved reserves of 14.1 billion barrels of oil equivalent. Most of the oil giant's crude is produced in Nigeria, Oman, the UK, and the USA. Shell is also investing heavily in the Athabasca Oil Sands Project, which converts oil sands in Alberta to synthetic crude oil. The company operates 44,000 gas stations (the world's largest retail fuel network) in more than 80 countries.
Shell is implicated in exploitation and support for dictatorships in Nigeria, Angola, and elsewhere. It operates a huge, stunningly toxic facility in the Niger River Delta, but provides almost no compensation to the Ogoni people. In 1994, Ogoni activist Ken Saro-Wiwa was arrested for allegedly inciting violence against Shell staff and executed, along with 8 other Ogoni.
Shell is implicated in exploitation and support for dictatorships in Nigeria, Angola, and elsewhere. It operates a huge, stunningly toxic facility in the Niger River Delta, but provides almost no compensation to the Ogoni people. In 1994, Ogoni activist Ken Saro-Wiwa was arrested for allegedly inciting violence against Shell staff and executed, along with 8 other Ogoni.
Royal Dutch Shell is, like BP, p.l.c. and Exxon Mobil, very large, very old, and very evil. It is based in the Hague--ironically enough, near the International Court of Justice.
by Abu Yahya July 18, 2010
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