Expert Zone
Straight from the Specialists
Is “depressing” depression better than “economic boom”?
(The views expressed in this column are the author’s own and do not represent those of Reuters)
Every once in a while, I come across the term — depression. Well, I have heard of recession, contraction, subtraction — so what exactly is “depression”? It is very depressing to say the least. But if you still insist, these are some of the facts.
The Great Depression was an economic state in the U.S. in the 1930s. Some of the stats:
– It started in 1930 and ended after nearly a decade
– It was a period when the economic output (as measured by GDP) was falling year after year
Life after the U.S. rating downgrade
(Nipun Mehta is a veteran private banker with many years of experience across Asia. The views expressed in the column are his own and not those of Reuters)
The unthinkable (for some) happened last week when the U.S. economy was downgraded from ‘AAA’ to ‘AA+’ with a negative outlook by Standard & Poor’s, one of the three large global rating agencies.
Impact of U.S. debt downgrade
(The views expressed in this column are the author’s own and do not represent those of Reuters)
Standard & Poor’s has cut the U.S. triple-A rating down to AA+ which if one is to go by the technical meaning, says the U.S. is no longer as reliable as it was last week when it comes to repaying its debts.
