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Commentary - Book Report/Review Example

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The two winners of the award were Alvin Roth and Lloyd Shapley. The theory that the economists used to win the award was matching theory. It is amazing to me that Shapley at the age of 89 still…
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Article Roth, Shapley Win Nobel Economics Prize for Matching Theory URL - http www.bloomberg.com/news 10-15/roth-shapley-share nobel-economics-prize-academy-says.html
Date – 15 October 2012
Authors - Rich Miller & Niklas Magnusson
The article talks about the winners of the Nobel Prize for economic sciences in 2012. The two winners of the award were Alvin Roth and Lloyd Shapley. The theory that the economists used to win the award was matching theory. It is amazing to me that Shapley at the age of 89 still has so a sharp mind worth of a Nobel Prize. Both scientists were extremely excited when they receive a phone call with the news of their accomplishment. The theory that Roth and Shapley developed provides insight into how scarce resources can be allocated.
Article 2 – ‘Fiscal Cliff’ May be Bigger Threat Than You Think
URL - http://finance.yahoo.com/news/fiscal-cliff-may-bigger-threat-191938563.html;_ylc=X3oDMTNuY2xnb2diBF9TAzExODMzMDAyMjYEYWN0A21haWxfY2IEY3QDYQRpbnRsA3VzBGxhbmcDZW4tVVMEcGtnAzkwMjcxYjE2LTg3NDAtM2NhNy1iNWI0LTMwMTkxOTY3YmI3ZgRzZWMDbWl0X3NoYXJlBHNsawNtYWlsBHRlc3QD;_ylv=3
Date – 19 October 2012
Author – Jeff Cox
The Wall Street community is worried that the impact of the bad economy could be worse than what many people predicted which could hurt investors nationwide. The looming tax increases and spending cuts that the Federal government has implemented could send the economy into a deep recession. The person most responsible for the fiscal situation of the country is the head of the Federal Reserve, Ben Bernanke. The author of the article believes that investors are acting too overconfident in the ability of the government to find a solution to its current fiscal situation. It is estimated that 72% of investors have not considered the ramifications that a bad economy will have on their investment.
Article 3 - World ‘Close’ to Recession: Stanley Fischer
URL: http://finance.yahoo.com/news/world-close-recession-stanley-fischer-110931449.html;_ylc=X3oDMTNuNzRvaXZrBF9TAzExODMzMDAyMjYEYWN0A21haWxfY2IEY3QDYQRpbnRsA3VzBGxhbmcDZW4tVVMEcGtnA2FiNmI5OGI4LWZkYzEtM2ZlMy05NWU2LTAzMDEwOTdlMzliMwRzZWMDbWl0X3NoYXJlBHNsawNtYWlsBHRlc3QD;_ylv=3
Date – 23 October 2012
Author – Stanley Fischer
According to the head of the Bank of Israel the world is very close to a global recession once again. Recently there has been a small improvement in the confidence of people in the economy which might delay the inevitable recession. Despite the bad projected outlook for the economy the stock markets are up. Some of the reasons for the good performance in the stock market are the U.S. Q3 economic results and the new policies of ECB. Uncertainties in the U.S. fiscal policies and tensions in the Middle East have had an adverse effect on the economy.
Article 4 - Pound Rises Versus Euro for Second Week on Waning Stimulus Bets
URL - http://www.bloomberg.com/news/2012-11-03/pound-rises-versus-euro-for-second-week-on-waning-stimulus-bets.html
Date - 3 November 2012
Author – Neal Armstrong
During the first week of November the pound currency strengthen against the Euro for the second consecutive week. There have been signs of improvement in the United Kingdom economy. The Sterling in comparison to the dollar fell for the fifth week in a row as the U.S. economy recently added more jobs. The Bank of England’s Monetary Policy meets on the 7th and 8th of November 2012 to decide whether to extend its asset purchase program. A stronger U.S. dollar is hurting the value of the British Pound. In the short run goods coming from the U.S are more expensive than in the past.
Article 5 – Economy Turns US, Japan Into Ugly Stepsisters.
URL - http://finance.yahoo.com/news/economic-woes-turn-us-japan-213638690.html;_ylc=X3oDMTNuMG8zdDVyBF9TAzExODMzMDAyMjYEYWN0A21haWxfY2IEY3QDYQRpbnRsA3VzBGxhbmcDZW4tVVMEcGtnAzM2YjkxMTNkLTcyYzUtMzJlZi1hNmZkLWJkZWI3MWUxOGE2MgRzZWMDbWl0X3NoYXJlBHNsawNtYWlsBHRlc3QD;_ylv=3
Date – 17 November 2012
Author – CNBC
In the article the author compares the economic situation of both the US and Japan. There lots of similarities in the economic behavior of both countries including surging debt, a rapidly falling currency, a sclerotic political system, and a central banking system pulling all the stops to fix the fiscal and monetary condition of each nation. During the third quarter of 2012 the Japanese economy contracted by 0.9%. In the United States a series of companies announced mass layoffs. The U.S and Japan are two of the countries with the most debt in the world. The economic problems these nations are facing must be fixed in the long run to improve the quality of life of its citizens.
Article 6
The article discusses the economic behavior of the Asian marketplaces. The Asian currencies are approaching a 15 month high. If the U.S. resolves its budget deadlock the Asian currencies will benefit from supported demand for emerging market assets. Senator Chuck Schumer stated that he expects progress in the talks regarding the $607 billion in spending cuts. The Indian Rupee recently had its best valuation since June of 2012. China Yuan traded at a 19 year high. The Asian marketplace has become more attractive than other money markets. Read More
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