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Submerging Nations

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Omar al Hashim View Drop Down
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    Posted: 09 Oct 2011 at 10:54
I heard a new phrase coined this morning. 'Submerging economies', used in the sentence;
"Developing economies are expected to grow by 6% this year while submerging economies - as in, those with too much debt - are expected to grow by only 2%".
 
I thought I'd celebrate the new phrase with this post.
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pinguin View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pinguin Quote  Post ReplyReply Direct Link To This Post Posted: 09 Oct 2011 at 11:38
Yes, amazing phrase: submerging into the Third World.
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drgonzaga View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote drgonzaga Quote  Post ReplyReply Direct Link To This Post Posted: 09 Oct 2011 at 12:58
Originally posted by Omar al Hashim Omar al Hashim wrote:

I heard a new phrase coined this morning. 'Submerging economies', used in the sentence;
"Developing economies are expected to grow by 6% this year while submerging economies - as in, those with too much debt - are expected to grow by only 2%".
 
I thought I'd celebrate the new phrase with this post.
 
Too much debt? relative to what and of what significance 10% AGRs based upon start point 0?
 
Here is some food for thought...
 
 
And, indeed, empirical studies have found some tendency for countries that start from further behind to grow faster than those that begin with higher incomes. ["absolute convergence"]
 
 
 


Edited by drgonzaga - 10 Oct 2011 at 08:31
Honi soit qui mal y pense
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whalebreath View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote whalebreath Quote  Post ReplyReply Direct Link To This Post Posted: 09 Oct 2011 at 16:30
I thought for sure this was about the South Pacific.
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fantasus View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote fantasus Quote  Post ReplyReply Direct Link To This Post Posted: 10 Oct 2011 at 17:34
Originally posted by Omar al Hashim Omar al Hashim wrote:

I heard a new phrase coined this morning. 'Submerging economies', used in the sentence;
"Developing economies are expected to grow by 6% this year while submerging economies - as in, those with too much debt - are expected to grow by only 2%".
 
I thought I'd celebrate the new phrase with this post.
2 % p.a. is unsustainable in the long run, at least if it repressent  "material growth" (use of raw materials etcetera). It seems to me the discussion about economy is extremely full of terms that are not as " neutral" as pretended. "Low growth" - what is "low growth"? who says there is any "natural" or "normal" rates at all?
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GeranHulmaster View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote GeranHulmaster Quote  Post ReplyReply Direct Link To This Post Posted: 10 Oct 2011 at 23:28
does N-11 ring a bell? Tongue
It is a useless life that is not consecrated to a great ideal. It is like a stone wasted on the field without becoming a part of any edifice.

-Jose Rizal, Philippine National Hero
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fantasus View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote fantasus Quote  Post ReplyReply Direct Link To This Post Posted: 11 Oct 2011 at 01:58
Originally posted by GeranHulmaster GeranHulmaster wrote:

does N-11 ring a bell? Tongue
NO!!
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drgonzaga View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote drgonzaga Quote  Post ReplyReply Direct Link To This Post Posted: 12 Oct 2011 at 00:37
Thank you Geran for a ROTFLMAO moment. For those who are unawares of the term N-11 (another example of ditzy crystal ball gazing from Econowonks in their lust for abbreviations and shorthand terminology), it means "the next eleven" and illustrates the garbage generated by a particular investment firm: Goldman Sachs, which has been in the news of late and was integrally involved in the selling of junk going back to 2001.
 
 
The N-11 was their "brainchild" as a variation of their earlier BRIC antics:
 
 
You could do no better than Wiki for an overhead view of fuzzy thinking with only one goal in mind the selling of funny paper...
 
Honi soit qui mal y pense
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GeranHulmaster View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote GeranHulmaster Quote  Post ReplyReply Direct Link To This Post Posted: 12 Oct 2011 at 19:42
Originally posted by drgonzaga drgonzaga wrote:

Thank you Geran for a ROTFLMAO moment. For those who are unawares of the term N-11 (another example of ditzy crystal ball gazing from Econowonks in their lust for abbreviations and shorthand terminology), it means "the next eleven" and illustrates the garbage generated by a particular investment firm: Goldman Sachs, which has been in the news of late and was integrally involved in the selling of junk going back to 2001.
 
 
The N-11 was their "brainchild" as a variation of their earlier BRIC antics:
 
 
You could do no better than Wiki for an overhead view of fuzzy thinking with only one goal in mind the selling of funny paper...
 


i must say that the paper is written in the worst possible time..... a global economic crisis.
It is a useless life that is not consecrated to a great ideal. It is like a stone wasted on the field without becoming a part of any edifice.

-Jose Rizal, Philippine National Hero
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