Harrynomics

A recession can be a tough time for many especially in this era of advanced technology and connected economies, a fall in one country can affect the whole world. Many believe that we do not need recessions. If this is the case then businesses that fail should never be allowed to happen and change needs to be suppressed.

What appears more logical and near to what the truth is, is that a major recession, or depression should be avoided. Sometimes (more…)

During these times of economic recession, public anger on both sides of the Atlantic has turned to ’greedy bankers’ and what is seen as the obscene level of bonuses that are still being paid to the very people who have received opprobrium for creating the recession initially. If there is one thing that a politician on any side of the spectrum likes it is siding with public opinion and President Barack Obama’s plans outlined today in a hard hitting speech (more…)

In the period between 2004 and 2006, the new US household mortgage debt stands at staggeringly high $8 trillion. The reasons for this appallingly high mortgage debt are far too many and that includes negligible and improper documentation of borrower’s income status coupled with almost no down money for mortgages. This resulted in great amount of increase in the borrower’s monthly payments within few years of taking the loan.

From my understanding of the situation of, I believe there are (more…)