First of all I would like to wish you all a very happy New Year and I hope 2014 will be prosperous for all my readers. A few thing have changed, hence the late New Year wishes, as the web address has changed dropping the 'the' of the URL. The purpose is merely for simplicity and SEO.
The Irish economy for 2014
There are signs of improvement in the Irish economy. Trade has been good in 2013 with a 40% increase in trade to China alone boosting the Irish economy. The momentum is expected to continue for 2014. Unemployment figures are falling but the increasing pressure of the huge proportion of bad loans is an issue hampering Ireland. Reports today suggest that one of Ireland's leading banks, Bank of Ireland is expected to loan €30 + Billion into the Irish economy is a much needed boost to get the economy up and running again.
The US Economy
74,000 jobs were created in the USA last month of 2013. As the US continues to get back to work, confidence in building for US investors. Hope is building among Americans after 3 months of continuing growth in jobs. A strengthening economy could see more corporate spending in 2014 leading to gains for the US economy.
Riots in Tunisia
Political unrest has begun in Tunisia as a result of protests over new taxes imposed on the Tunisian people which is said to fill the gap in the country's budget. The protests come as a challenge to the country's road to democracy following the overthrow of their former president in 2011. The Tunisian economy saw a 2.7% improvement for 2013, however the rate of unemployment remains static at around 16.5-17.5%.
The Japanese Economy 'Abenomics'
The 'Abenomics' in Japan seems to be working. Coined as the government policies by Japanese Prime Minister Shinzo Abe, whose aggressive tactics seem to be paying off, Abenomics has seen a 50% leap in 2013 by the Japanese stock market the Nikkei. Reports suggest that the Japanese economy grew faster in 2013 than any year over the last 15 years. The fiscal stimulus employed by Abe involved buying up large scale purchase of Japanese bond. A risky move to buy up the bonds of your own country, the move has been quite a successful gamble. 2014 looks set to be an exciting year for the performance of the Japanese economy.
I am glad to announce that I have a free ebook available for you to download. The ebook is a review of the best bits from my blog over the last year. As 2013 is coming to a close I look back at my best bits.
How do I Download the Free Ebook?
If interested in downloading my free ebook all you have to do is click Here.
Or you can either click on the QR code below or simply scan it.
Events of the past few weeks have seen much volatility in the international markets. With the USA shutdown and a default looming the ripple effect of such could have disastrous effects on the world economy as the USA is to big to fail. Over the past few weeks two markets that have become popular since the world economic collapse in 2008, gold and Bitcoins have also seen a drop in value. The IMF's words over the budgetary concerns and a cut in growth forecasts in the Australian economy has also caused a dramatic drop in the currency against the other leading world currencies.
The US debt situation
The US senate rejected a budget bill that would fund the government which resulted in a row over Obama's healthcare law. Failure to reach an agreement has seen the US non-essential federal services shutdown since October 1st. Coupled with the budgetary stalemate, the US is faced with the decision on October 17 whether or not to raise the debt ceiling in order to borrow more cash to pay the country's debts. If agreements are not made on that day the US will be unable to exceed the $16.7 trillion debt cap and will default on some of its debts in the near future. All of the events in the US since the start of the month have caused a sense of fear in the markets. The US Dollar has seen a fall in value since the shutdown.
The price of gold has reached a 3 year low on the day of writing this article. The problems in the USA and with a slight slowdown in growth in China gold has dropped in price significantly over the past month.
The recent events that have seen millions of dollars worth of Bitcoins seized as a result of the raid on the 'Silk Road' black market has seen a large drop in the price of Bitcoins. Many investors moved to Bitcoin investment in the recent past because of the lack of regulation and the large growth of the electronic currency.
As China begins slowing down ever so slightly, the IMF warned Australia to adjust it's budget as GDP growth forecasts were slashed. The current Australian government has been criticized over the fact that its budgetary policies are not long-term in its effect. The government has been accused of implementing policies to gain election support rather than benefits that would secure the countries long term growth.
So where should one invest?
The Japanese economy is growing at a steady rate and Japanese bonds have looked a solid investment as a result of the country's Prime Minister implementing proactive policies. Such policies have seen a marked rise in the value of the Yen and overall has been positive in terms of economic growth. The Chinese currency the Yuan has recently been talked about as becoming recognized as a major world currency.
The British Royal Mail has become an investment opportunity as controversy surrounded the fact that the state sell off was undervalued. As the Christmas period is only around the corner, it can only see a positive rise in the value of the Royal Mail shares.
So The Joe Economy... What do you think the purpose of this blog will be? The name Joe, celebrated as a common name known to many yet with powerful connotations with powerful men from the boxing world, Joe Louis one of the greatest heavyweights to ever embrace the ring. Joe Frazier who toppled Ali, Joe Calzaghe undefeated in 46 fights. Joes do succeed. My name is Joe (Joseph).
Today someone talks about economy or an economy, the implication of such discourse will probably be associated with negativity and failure because of the state of the global economic crisis. An economy, it can be argued, is unique to different countries. No two economies are the same. In the same line no two Joe's are the same.
A view from my lens
So where this blog is going, is looking at the world politically from a micro view from an Irish county specific, to Ireland specific, to European and beyond views, through a lens of a young unemployed Masters graduate.
So one may ask, why listen to a young unemployed graduate? Well, why not? I was taught at university by the world renowned Alan Ahearne so for me that's a pretty solid footing to start with. The blog will come up with ideas for global problems through a lens of an ordinary man. Consumer advice will also be offered.
The start of something new
Maybe this will be the start of something, maybe just a way to pass the time but whatever becomes of this blog if it at least helps some one or installs a vision or idea for one to make the world a better place so be it. Gotta be starting something.