Monday, December 22, 2008

Economic Review of the Year

I will have a slower posting schedule over the Christmas and New Year Period. I'm sure in the New Year, there will be certainly no shortage of topics to write about. To keep upto date, you can subscribe by RSS or receive free updates by email.

Economic Year in Review - 2008

It's been a tumultuous year with the financial crisis, which began last year, spreading unremittingly into the real economy. A crisis which once seemed to be affecting exotically named items such as CDO's, Credit Default swaps, and libor interbank lending rates, is now affecting people in the most personal and painful ways - home repossession, rising unemployment and a growing uncertainty over the future outlook.

It has been a year when many new phrases such as 'cash for trash' have entered the public lexicon. We have been learning the meaning of words such as credit default swaps - and realising that we are not entirely happy that aparantely this unregulated and previously obscure market is worth on paper $65 trillion.

With economics making front page headlines, there has been a big increase in interest in this economics blog. I hope it has helped explain some of the issues at stake. I have learnt alot this year - not least, economic theory can struggle to explain and forecast a crisis such as the one we are facing. The fact that there are fears over both hyperinflation and deflation for next year indicate the great uncertainty we are facing.

These are a few selected article from the past year.

UK Economy
Other Economic Essays
Credit Crunch 2008

2 comments:

Baz said...

Hi Tejvan,

Just wanted to say Merry Christmas and a Happy New Year!

Thank you for all the informative and well-written entries you've posted here. You break concepts down really well and cover a lot of topics that apply to everyday life.

I've been blessed to have come across this site as your articles have kept me well informed about the economics worldwide. I used to be clueless when I would listen to economists talk on TV; now that I've discovered your blog, the people who listen to me talk about the recession are the clueless ones!

Thanks again and God bless you from Pennsylvania, US.

Baz

Tejvan Pettinger said...

Thanks Baz!