Essays on Stimulus Package

Recently, China has recorded a remarkable growth in its economy of nearly 10% per year. The bulk of this growth comes from the banking sector characterized by poor asset quality, low capitalization, and massive state intervention. For this reason, the government introduced sweeping changes to the financial sector to boost its stability. These changes included transforming the banking sector from a policy-driven, state-owned, non-performing system to a profit-driven, multi-ownership, competitive system. Although the sector has recorded marked improvements in its operation and efficiency, additional efforts is needed to deal with problems revolving around non-performing loans and shadow banking. The ...

Article in business

Abstract The economic depression that was experienced globally affected many financial markets and institutions. In attempting to mitigate the effects of the economic depression, different players used different approaches citing different reasons. This paper will look at a particular theorist in economics and his contributions to some of the approaches used by different countries to deals with the issue of economic depression. In doing so, the paper will analyze the contribution of Keynes while striking relevance to the global economic recession. The dispute between Keynes and what he called orthodoxy was based on the reservations he expressed on the ...

- What were the reported results? The economic stimulus plan by President Barack Obama aimed at sustaining and revamping the economic situation in the United States of America. The economic stimulus bill of 2009 marked the intention of the government to support economic growth in the country. The bill targeted economic recovery and reinvestment into the local markets by internal and external investors in the American markets. Through the bill, the citizens of the United States of America would benefit through developed infrastructure for long-term benefits. This aimed at strengthening investment in the subsistence sector and attracting funds ...

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1. In assessing and interrogating the success and /or failures of social protest many social scientists and historians introduce the “ human dimensions” of leadership as an explanatory variable (factor) , with regard to its impeding or catalyzing effects on policy and actions. In so doing they examine critically, the strengths and flaws of personal actions by these leaders in their quest for social change. With this context as a framework, please evaluate the leadership of Cesar Chavez, Martin Luther King Jnr, and FDR, with regards to how the “human dimensions” of their leadership impacted their efforts, positively or negatively, ...

Obama’s economic policies came into play in the year 2008, during his presidential election campaign. After the elections which declared him the president of the United States, Obama named Paul Volcker, The former Federal Reserve chairman, as the head to the Economic Advisory Panel. Obama’s decision came in play as a result of the tougher financial restrictions that Volcker vehemently supported. Similarly, Obama launched an economic stimulus package worth $787 billion to stimulate the economy. In actual sense the injected amount raised the economy to the positive GDP growth the period marking the third quarter in the year ...

The Dag Hammarskjöld Foundation supports a “Development Dialogue” series in order to encourage and promote dialogue, communication and debate on subjects between North and South global divisions. In June 2012 the Foundation published a book edited by the Civil Society Reflection Group on Global Development Perspectives titled No Future without Justice. The civil society reflection group was established in the fall of 2010 and is comprised of members of a variety of civil society organizations (CSOs). At first the group came together informally in order to discuss the numerous global crises that are happening simultaneously. By November of 2010 the group ...

Effects of credit crunch/ensuing recession on political economy decisions

The 2007-2010 economic crisis is perhaps the worst economic disaster to hit the globe since the Great Depression of the early 1930s. The crisis spread instantaneously across the globe triggering deep recessions in developed and developing economies (Hudson, and Maioli, 2010). Assets were devalued, financial markets became turbulent, unemployment levels rose, and access to credit became limited during the crisis. The onset of the financial crisis marked the end of the highest growth cycle experienced from 2003-mid-2008. The causes of the crisis can be attributed to surpluses in the current account of China and other oil-based economies, which provided ...

The Democratic Party has proposed a fiscal policy keen to enhance both economic growth and development. The policy advocates for tax cuts and increased government spending on healthcare, education, increased unemployment benefits and infrastructure (OTTERMAN, 2012). They have therefore based their arguments on Keynes economic theory which seeks government to intervene in the economy so as to stimulate aggregate demand, control inflation and increase employment opportunities. The reduction in tax cuts is made to increase disposable income a move which may encourage people to spend. The government increased expenditure in health, education, and infrastructure seeks to make Americans more productive and ...

The presidency of the United States of America- acronym POTUS- is made legal by Article Two of the constitution of USA. This article vests several powers to the president of Te United States of America; head of state and government of the country, commander in chief of the USA army, leader of the executive branch of government. Article two also charges the president with the powers to ensure execution of the federal law, appointing of diplomats, judicial and regulatory officers, entering into treaties with other foreign powers on the consent and advice of the senate. The president can also ...

Joseph Stiglitz born in 1943 is a well renowned American economist and currently works at the Columbia University as a professor. He has published numerous books on world economies and affairs and personal articles on several issues such as management of globalization, World Bank, International Monetary Fund and free market economists. It is no doubt that Stiglitz is one the most referenced economists currently in the globe today. In this piece of work, I will highlight Joseph Stiglitz’s article titled, The Economic Outrage of 2010: Cowardly leaders failed to help working people and coddled the rich

It is essential to ...

Political environment that led to Economic concerns, at first, during October 2008 was aimed at bailing out securities, which was under the tremendous repercussions of defaulting and was mortgaged backed.

Five descriptive features of bailout and stimulus bills during October 2008 to February 2009 in the USA.

The necessity of the bills for bailing out and stimulus

A record $140 billion was being withdrawn from the money market accounts. Usually money market is considered as the safest place for investments. At that time investors were shifting their funds towards US Treasuries, as a back drop, the yields were coming down to zero. On the other side, the panic was triggered ...

Throughout history, financial crises and economic recessions have taken place in different parts of the world. After the collapse of the Soviet Union, the United States of America emerged as a force to reckon with in the global market. The emergence of the United States of America as a financial power house is attributed to the liberalization of the markets and the focus on the development of the IT and communication sector. Given the pivotal role of financial epicenters in global financial markets, a crisis in any of the financial epicenters can have devastating effects. In 2008-2009, there was a financial crisis that ...

Introduction

An economy of a country goes through different cycles. There will be periods where there will be a boom and at other times there can be a recession. In the Western world the period 2007 to 2009 was a tough period as the economy went through a recession. Many people lost their jobs while others lost their homes. It is estimated that a total of 8.4 Million jobs were lost during the recession period. Mortgage products were the worst hit. Governments came up with measures to stimulate the economy. The American government spent a lot of money bailing out banks and mortgage companies.

There are two ...

When the majority of people living in America hear the term “stimulus package,” they think of tax rebate checks, various tax cuts and the like – things that are utilized in an economic recession to help struggling citizens weather the storm until greener pastures can be reached. To a large extent, this is accurate; this is the modern definition of a stimulus package. However, there is a lot more to a stimulus package than just free money – in fact, the money is coming out of someone’s pockets eventually, just not right then, or in that specific way. In fact, there is a further emotional ...