crisis

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The human condition: the economy's worst enemy

Economic downturns and market crashes have long been accepted by society as the norm, yet we find ourselves in deeper holes as each financial crisis hits us. Is there a reason? Andrew Wong explains that we are the reason.

The US government shutdown – any end in sight?

What a joke.
Really, there isn’t anything else that can be said about the latest fiscal crisis in the United States. With the federal government shutting down most operations on the 1st of October, as the House of Representatives (controlled by the Republicans) and the Senate (controlled by the Democrats) couldn’t agree on a Continuing Resolution for the 2014 fiscal year.

Read moreThe US government shutdown – any end in sight?

Syria: the economic costs behind a civil war

The Syrian civil war officially began with demonstrations as part of the Arab Spring protest movement in March 2011. Forces opposed to the government, such as the Free Syrian Army, have been seeking to oust the Ba’ath Government and defend the violence against opposition protesters. According to the United Nations, more than 100,000 people have died in this conflict.

Read moreSyria: the economic costs behind a civil war

Achilles and Cheiron

The Greek Epic

The Greek tragedy began with its declining competitiveness in the early 2000’s. Simply put, they were producing far less than they were consuming. Many factors lead to this including their adoption of the Euro (see Hungy’s article here). Some have pointed out the irony of too much Democracy from the people who invented it: pensions rose, retirement age lowered, and public sector salaries increased. This explanation has formed the view of the Greek people as lazy and unproductive, a label which is misinformed.

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The Euro Crisis: Why Greece is broke but Germany won't do anything about it

Source: Dirk Vorderstraße

Anyone reading the news lately would’ve surely caught on that something is amiss in Europe: The so called ‘PIGS’ (Portugal, Ireland, Greece and Spain), and especially the Greeks have been on the edge of default for months, causing  rumours that the Euro may be headed to the scrap heap.  If any of you still remember, the Euro was introduced with great fanfare nearly ten years ago which was supposed to promote closer ties both politically and economically for the EU members in the Euro-zone (The sub-group in the EU that uses the Euro as their currency).  So why then, has the Euro’s health deteriorated to such a sickly state?

Read moreThe Euro Crisis: Why Greece is broke but Germany won't do anything about it