Ben Bernanke Back Leads U.S. Central Bank

Ben Bernanke finally return believed to be the governor of Central Bank of the United States (the Fed), the position which is currently very influential in saving the American economy (the U.S.) from the recession.
The assurance came after the U.S. Senate vote on Thursday night in Washington, DC (Friday morning GMT). The vote took place relatively tight because not a few senators who criticized the policy that Bernanke simply poured a lot of money to major banks are in trouble while tens of millions of Americans suffer the effects of recession.

With the composition of the Senate vote, 70 support and 30 refused, Bernanke certainly returned to lead the Fed to four years following.

Selection of central bank governors held tough this time and takes several days. It is also a test of the independence of the Fed, which is an important element for the central bank in carrying out economic policies that are not popular ones.

The policies of the Fed in setting interest rates, for example, can cause huge consequences for all layers, ranging from large corporations to married couples who struggle to repay their first home. The consumers' grocery store and petrol station managers were affected for any measures taken by the leadership of the Fed.

Some senators praised Bernanke's performance, which is seen managed to lift the U.S. economy from the brink of a deeper recession, so the land of Uncle Sam is not to suffer from depression is greater. "Leadership Ben Bernanke has made this nation to avoid a disaster," said Sen. Chistopher Dodd, who led the affairs of the Senate Banking Committee.

However, there are senators who refused to back Bernanke's appointment. "Central Bank under Ben Bernanke actually serve to create conditions for the financial crisis," said Senator Richard Shelby of the Republican Party.

Shelby and his allies believe that Bernanke is to blame for failing to directly detect the problems that caused the crisis in the U.S. in more than last year. The Fed is also seen as weak in banking regulations and does not directly address the irregularities in the home mortgage problems causing the crisis.

Bernanke was first entrusted to lead the Fed by the current U.S. president, George W. Bush, in 2006. However, this time Bernanke received the blessing of Barack Obama to continue his leadership at the central bank.

56-year-old economist sebelummnya more engaged in academic environments. Over the past 17 years Bernanke taught economics at Princeton University. But he was summoned to Washington DC to help the Fed governor who eventually replaced him, Alan Greenspan
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Economic Fatigue, Obama Want to Defer Salary Increase

President of the United States (U.S.), Barack Obama, called for suspension of salary increases for central government employees (federal). The delay was proposed for two years.
According to the CNN page, on Monday night local time, the idea must be approved by Congress. If approved, the policy would affect two million federal employees in 2011 and 2012. The idea was raised of government to address a growing budget deficit.

According to government calculations, suspension of salary increases for two years would save the government budget of U.S. $ 2 billion for the remainder of fiscal year 2011 and U.S. $ 28 billion for the next five years. However, the amount was very small annual budget deficits than the U.S. suffered U.S. $ 1.3 trillion.

This policy will not apply to military personnel, but have an impact on all federal government employees, including those working in the Department of Defense.

"The fact that bitter in an effort to control the budget deficit is a need for some sacrifice. And the sacrifice must be shared equally by employees of the federal government," Obama said.

According to the daily pages of The Wall Street Journal, if approved by Congress, the policy was clearly disturbed the federal employees. "I never thought that this government will solve the problem by cutting revenues," said John Gage, chairman of the American Federation of Government Employees (AFL-CIO), which consists of about 600,000 federal employees.

Apart from the idea that the government, officials plan would enjoy a 1.4 percent salary increase in 2011. However, many civil servants in net income will decline as rising health insurance premiums, on average by 7.2 percent.

2030, Japan's Economic Beat RI

In 2030, Indonesia's economy not only shift the German, French, Russian and English. Bank number one in the UK, Standard Chartered Bank, estimated that Indonesia's economic strength will defeat Japan in 2030.
Stanchart In a special report titled "The Super-Cycle Report" recently published, assessing the world is in the midst of a continuing period of high economic growth which they call by the term super-cycle.

According to Drs. Gerard Lyons, Chief Economist and Group Head of Global Research Stanchart, a super-cycle is going to happen the potential upside in terms of strong global growth.

"It is also inseparable from the fact that developing countries would be a major driver of growth, whereas western countries have the ability to benefit from global economic change by adapting and changing," explained Gerard.

Strong growth starting in 2000 and will last until the next few decades. "In 2030, the volume of the global economy would reach more than USD300 billion," the report said. This volume is an increase over the current position of USD62 trillion.

Even more interesting, the report said, developing countries will be able to surpass the developed world better. As a result, the global economic balance of power will shift strongly from west to east.

The trigger is increased trade, especially in markets of developing countries, rapid industrialization, urbanization and the rising middle class in developing countries.

"Asia will drive the majority of global growth over the next 20 years," said Stanchart. Asia is often referred to are China, India and Indonesia.

At that time, standard of living as measured by real per capita income, will increase nine-fold in China and India between 2000 and 2030. Increased personal income would push billions of people entered the middle class and increased consumption will spur domestic economic growth.

China's economic growth rate will be 6.9 percent over the next two decades, even overtaking the United States to a world economic superpower within a decade, namely in 2020. India's economic growth increased 9.3 percent in the same period and trail the United States as the third largest economy by 2030.

What about Indonesia? According to the report, in the next decade, Indonesia would occupy the tenth position as a world economic power. Indonesia was under German, French, Russian and English who are in sixth to ninth.

However, in the next decade or 2030, Indonesia is not only beat the four countries. Indonesia will even beat Japan is now the world's third largest economic power after U.S. and China.

At that time, Indonesia was in fifth position with the world's gross domestic product USD9, 3 trillion, while Japan's GDP in sixth with $ 8, 4 trillion. (Bs-UPI)