Found a really cool site 'Trading Economics' - here.
Love how the information is arranged. Even though I'm not especially organised, I really love organised information.
It seems a good site for sticky-beaking into GDP and debt to GDP particulars of countries, as well as a host of other related information (I've yet to check out).
US debt-GDP is over 100%. But the US economy is on top of the heap in terms of GDP.
The EU collective is next. Followed by China, Japan, Germany, France, UK, Brazil and Russia.
Russia's debt-GDP looks to be the lowest of the pack.
Japan, US, France and UK have the highest debt-GDP rankings.
This is embarrassing: I've only a vague idea what inflation actually is.
Venezuela's is off the planet.
So what is it? The following is info sourced from an 'Inflation Tutorial' - here.
It's the annual percentage increase in the cost of goods and services. As inflation rises, the currency buys you less in goods and services.
Two theories re rising inflation:
- too few goods to meet buyer demand; or
- rising costs of production.
In high inflation cases, domestic export products become 'less competitive' -- meaning what? Guessing they're not as saleable as goods from countries with lower inflation rates.
So the goal must be to keep (a) production costs low and (b) production high?
So is this a never-ending loop of economic infinity to Infinity?
Production will never be enough and profit will never be enough.
It's a process of churning things out of the soil and out of factories so that we buy and have 'things', while those that control production have profits.
An endless loop of churning out and selling things for profits sounds pointless and probably unsustainable. But there's no alternative.
Gradually rising, or controlled, inflation isn't supposed to be a big deal (I think) ... as long as the wages rise corresponding to inflation.
I'm guessing that workers then have to constantly battle for an increase in wages to keep in step with inflation.
Where there's a strong union, that's probably easy. But not everyone has a strong union -- or any union -- representation.
A lack of inflation can signify a weakening economy, according to the 'Inflation Tutorial'.
Interest rates are closely associated with inflation figures.
Reserve banks take inflation calculation data into account when calculating the figures that set interest rates. Tutorial on that is here if anyone's real keen.
