レッツ　エンジョイ　イングリッシュ　19th

【Obama government was born】

《Significance on the Obama President》

So the birth on the President on the black shows the conscience on the Americans has changed.

Some people say Mr. Obama isn’t the black, for his father was the black who studied abroad from Kenya, but his mother was the white, but Mr.Obama himself has thought he is the black, for he’s thought he wanted to do job for the people who have been discriminated.

When the Iraq war broke out by the Bush President, Mr. Obama was opposed to it. He used to live in Indonesia when being young, and has gone through how poor a developing…

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【Obama government was born】

《Significance on the Obama President》

…and has gone through how poor a developing country was, exception for America, and had thought what he should do so as to help the poor.

He showed the stance of taking the measure on the global warming. On the other hand, the Bush President thought reducing the carbon oxide prevented them from leading rich life, so he didn’t take the measure on the global warming. In this point two of the Presidents were different so much.

Mr. Obama knew the feeling of the people who were discriminated and led life remained poor.

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【Obama government was born】

So the whole world paid attention to him, what kind of politics did he carry out?

Embarrassingly, I’ve never thought of it like that until now

《What is the revolving door when the government is changed?》

Mr. Obama won the Presidential election overwhelmingly, but he didn’t have enough time so as to relax because he was tired in the Presidential election, for he had to start his job as the President at once after taking over from the previous President and the inauguration ceremony as the President, so the team of the changing government was formed. What is that?

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【Obama government was born】

《What is the revolving door when the government is changed?》

The one who leads the team is the chief staff to President.

Though there are some chief to President, but the chief staff is the top, being always with the President and being asked advice from the President and telling orders from the President to the team members. It’s important job.

When being the President, what should do the President at first? And what is in the next? The President and the chief staff to President have to decide the order of the job.

At the same time, the important job for the…

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【Obama government was born】

《What is the revolving door when the government is changed?》

…the important thing is deciding the top of the government office, and Mr. Obama chose Mis Hillary Clinton as the Secretary of State. Though fighting against her for choosing the candidate from the Democratic Party in the Presidential election, without being trapped in the past, let’s work through problems together. It’s the message from him to her.

When the Prime Minister changed and the new Cabinet was born, the Minister of both Finance and Foreign Affairs change in Japan, but the government…

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【Obama government was born】

《What is the revolving door when the government is changed?》

…but the government officers who work under the Minister of Finance and Foreign Affairs don’t change. They could pass the civil service examination and went into the government office. Whoever is the Prime Minister, they have to work for the nation in Japan.

On the other hand, America is different. When the President changed, all the people who are equal to the executives in the government office of Washington change, for they are in the position due to the President, so they changed with the President.

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【Obama government was born】

《What is the revolving door when the government changes》

The number of changing the government officers in Washington is different. It depends, but it is said some five thousand change.

The executives in the government officers were appointed by the President Bush from the Republican Party until then, and they exchange with the people who were done by the Obama President from the Democratic Party.

By the way what do the people who worked in the government office under the Bush government after that?

Some of them become professors in university, and others…

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【Obama government was born】

《What is the revolving door when the government changes?》

…the others become the member of the Institute for Policy Studies, what is called the think tank, or getting a job at a law or accounting firm.

Switching them, other people came from the professors and the think tank and become the executives in the government office in Washington.

Whenever the President changes, people exchanges from the government office to the no official, from the non official to the government office, so we call the situation the revolving door, for the people come in and come out.

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【Obama government was born】

Even if the Prime Minister changed in Japan, it is said the policy seldom changes because the people in the government office don’t change, on the other hand, all of them change altogether in America.

Though it has been evaluated that fresh idea comes from non official, the policy in America is filled with activity, their job until then also changes so much that the business continuity also disappears. There has been the criticism like that.

《Can Obama become Roosevelt?》

The Previous President Obama said he’s studied Roosevelt who also used to be the President.

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【Obama government was born】

《Can Obama become Roosevelt?》

Because Roosevelt is the President who made the people suffered from recession hope and rebuilt the economy in America and it has been evaluated highly. Could Mr. Obama become Roosevelt? The whole world paid attention to him.

《There used to be the terrible recession in 1930s》

After Lehman Brothers which was the major brokerage company went bankrupt in America, the great confusion continued in the economy of the world, and we were worried about the whole world became the recession at the same time.

The recession means that the…

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【Obama government was born】

《There used to be the terrible recession》

The recession means that the situation of the economy is bad.

Even if how many companies produce goods, it wasn’t sold, and the economic state on the companies went wrong, and the salary of employees were lowered, or firing employees, the more people who couldn’t have money they can buy the goods, the less the goods were sold.

If the income of the people who worked decreased, the allowance of children may have been decreased.

The whole world fell into the recession in 1930s. The price of the stock declined greatly then

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【The Obama government was born】

《There used to be the terrible recession》

Companies going bankrupt appeared one after another, unemployed people increased sharply. As America couldn’t buy goods from other nations, the economy in the whole world deteriorated then.

The President in America was Hoover from the Republican Party then. The Republican Party has the way of thinking that the government shouldn’t intervene with the work on private companies, so the President Hoover didn’t try to take any measure when America became the recession.

The nations in America were so angry that they made…

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【The Obama government was born】

《There used to be the terrible recession》

…that the made Roosevelt from the Democratic Party elect in the next Presidential election, for the Democratic Party has the way of thinking if the nation becomes the recession, the government should take the measure by using the tax.

The President Bush was from the Republican Party, but as the economy went bad the nation chose Obama as the President with the expectation of rebuilding the economy.

Somehow Mr. Obama and Mr. Roosevelt take after.

Mr. Roosevelt called out to the nations who were nervous about the….

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【The Obama government was born】

《There used to be the terrible recession》

Mr. Roosevelt called out the nations who were nervous about the recession we should fear is the fear itself. If all the nations fear something in the future, the society won’t be good forever. Without being afraid of making a mistake, let’s go ahead.

He started the New Deal policy. Constructing dam, roads by using tax, and offering new jobs to the nations. The government worked through the recovery on the economy actively.

As there was no TV then, he told nations by radio every week. Thus the President Roosevelt …

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【The Obama government was born】

《There used to be the terrible recession》

Thus Mr. Roosevelt established the trust from the nations and is one of the greatest President in the history of America.

The previous President Obama called out to the nations to tackle rebuilding economy on the video of his homepage of the internet before being the President. The radio in the past and the internet at present. It turned out that Mr. Obama was conscious of Mr. Roosevelt.

The Bush President was opposed to using the tax so as to rebuild the economy, but Mr. Obama said he would make the economy in….

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【The Obama government was born】

…but Mr. Obama said he would make the economy in America escape from the recession by using tax. Could he carry it out actually?

【The news on economy】

《Lehman went bankrupt and America was in confusion》

Not only Lehman Brothers which was a major brokerage firm but other bank went bankrupt in America, and financial institution fell down one after another there, for the contents on the financial goods of bonds which was made being based on the subprime loan was so complicated they weren’t sure that how much they suffered a loss, so anxiety spread over among…

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【The news on economy】

《Lehman Brothers went bankrupt and America was in confusion》

…so anxiety spread among the people in America.

The original cause on this event was subprime loan which is a kind of housing loan.

Even if having wanted to buy its own home, without any fund at hand no one can buy it, so they borrow the money from the bank. It’s the housing loan.

The subprime loan is the housing loan which lent the money to the people who could return the money they borrow decently.

On the other hand, the word of sub which means lower rank is added to the prime loan. It’s the housing …

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【The news on economy】

《Lehman Brothers went bankrupt and America was in confusion》

It’s the housing loan which lends the money to the people who may not be able to return the money. As the lending money may not be able to return, its interest is high. The one who made use of the subprime loan had to pay more interest than as usual.

The one who may not be able to return the money, but its interest is high. It’s something odd.

To tell the truth, if being unable to return the money, the bank tried to take more interest from other people who can return the money. As there is the fear that…

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【The news on the economy】

《Lehman Brothers went bankrupt and America was in confusion》

As there is the fear that the money may not have been returned, its interest is high, but if being unable to return, the financial institution is in difficulty, so the one which lent the money through the subprime loan thought of releasing the risk of being unable to return the money and sold the bond certificate which had the right of being returned the money to brokerage firms.

Selling the bond certificate is an impression which is hard to understand.

The company lent the money to the people through…

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【The news on economy】

《Lehman Brothers went bankrupt and America was in confusion》

The company which lent the money to the people through the housing loan has the right to say to return the money, and sold the right to the brokerage company, so there was no risk on the bank that the money may have not been returned. Far from it.

The more money the bank lent the money to the people through subprime loan, the more the bond increased, and the more gained the profit by selling the bond. Thus the subprime loan increased.

The brokerage firm has also the risk of being unable of not being …

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【The news on economy】

《Lehman Brothers went bankrupt and America was in confusion》

The brokerage firm had also the risk of unable not to being return the money if going on having the bond, so making a new bond certificate being based on the original one, and selling it to the financial institutions all over the world, forcing the risk to other financial institutions.

But if the bond certificate being based on the single one doesn’t go well, there is the possibility of being unable to receive the money.

In short, if the one who lent the money from the subprime loan didn’t return the money…

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【The news on economy】

《Lehman Brothers went bankrupt and America was in confusion》

…even if having the bond certificate, they can’t receive the money, so adopting the way of making other new bond certificate, not only the bond certificate being based on the subprime loan, ordinary housing loan, but the other certificate loan sold by other financial institution were put together, and it was sold, mixing some bond certificate up together.

If one of the loan certificate didn’t go well, when others were ok, they didn’t make a loss so much. The subprime loan was made like that.

《They were …》

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【The news on economy】

《They were not sure how much they made a loss》

But the people who couldn’t return the subprime loan appeared one after another, and others who couldn’t return ordinary housing loan turned up, so even if having the bond certificates, there was the possibility that the money may not have been returned.

How much did make a loss? The brokerage firm which bought the bond certificate tried to calculate, but the bond certificate was the one which other bond certificates from other companies were mixed up. Its content was so complicated that none of the brokerage companies…

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【The news on economy】

《They weren’t sure how much they made a loss》

…that none of brokerage firm couldn’t understand how much they made a loss, so the rumors that the bank seemed to go bankrupt soon, or the financial institution seemed to make a loss seriously went around, and the financial institutions learned to look at with suspicion each other.

Each of the financial institutions lends the money each other whey need the money every day, but as being unable to trust other financial institution, lending money among the financial institution learned not to be done so much.

So the …

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【The news on economy】

《They weren’t sure how much they made a loss》

So the brokerage firm and bank which couldn’t borrow the money they needed everyday showed up one after another, and some of them went bankrupt.

When a major brokerage firm and bank went bankrupt, an anxiety that where was the one which went bankrupt spread among the people, and the anxiety made them stop lending and borrowing money each other, and the next bank went bankrupt. America became the situation like that then.

When the economy went bad, the price of the stock goes down. If the price of the stock goes down in…

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【The news on economy】

If the price on the stock goes down in America, the price of the stock in Japan is influenced and goes down, for there have been lots of people who think if the economy in America went bad, the economy in Japan which exports lots of commodities to America would deteriorate.

Thus as the unreasonable subprime loan didn’t go well in America, the price on the stock also went down in Japan.

《The economy in Japan the business fell off》

It was said the business fell off in the economy of Japan when the book was written. In this situation, the word of business means…

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【The news on economy】

《The economy in Japan, business fell off》

…the business means the words whether or not companies or individuality made money. If the business fell off, allowance on children may have reduced.

The government announces a report that how the economy in Japan is every month. We call it the monthly assessment of the economy, searching various situations in the economy of Japan and announces them.

The phrase of business improvement disappeared from the monthly assessment of the economy August in 2008 for the first time in eight months and four years.

Instead, there was…

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【The news on economy】

《The economy in Japan the business fell off》

Instead, there is an impression that the economy in Japan is about to become weak.

The way of business improvement was used in the monthly assessment of the economy until then. It means that the business gets better, but the phrase that business get better disappeared, and is replaced with the expression that business fell off.

Newspapers and TV said the government allowed the recession. The recession is the situation of the economy goes bad, and what is the situation of the economy?

Whether or not companies or…

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【The news on economy】

《The economy in Japan the business fell off》

Whether or not companies or individualities make money means that whether the situation in economy is good or bad.

For example, lots of commodities in the company are sold well, it’s very profitable for the company and the company increases the salary on the employees. Family members of employees are delighted at it. They will go on a family trip or buy a new type of TV.

Lots of various commodities are sold and it is profitable for other companies. We call it the situation of the economy is good.

On the other hand, if….

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【The news on economy】

…if the commodities in the company aren’t sold well, the salary on employees are decreased, and family members of employees can hardly go on the family trip. Various commodities aren’t sold so much, and the company which isn’t profitable increases. We call the situation the situation of economy is bad.

《The business fell off in America》

The business fell off from around summer in 2007. The Americans have bought lots of commodities from all over the world. If the business fells off, the amount of commodities they bought decreased, and both of China and Japan decrease…

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【The news on economy】

《The business fell off in America》

…and the commodity made by both China and Japan isn’t sold well in America. If the companies in China aren’t profitable so much, China learns not to buy goods from Japan so much, as a result, the commodity made in Japan learns not to be sold both in America and in China.

Thus the economy in the world is connected deeply each other, and the economy started to go bad in the whole world then.

When being in the recession, public work helps the companies which decreased their job by offering job by the nation. For example, making the…

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【The news on economy】

《The business fell off in America》

For example, making the companies build bridge and construct the road by the government. If the companies are active, the salary on employees increases and the economy will be up. The government seems to think like that, but there wasn’t enough money in Japan then, and if increasing the public work by force, the government bond which is debt for the nation will increase.

Though the economy wasn’t doing well, we couldn’t find the way of improving the business. It was in the situation when the book was written around in 2008.

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【The news on economy】

《What kind of bank is the Bank of Japan?》

Speaking of the Bank of Japan, it’s the bank which issues the bills. Though there are lots of banks in Japan, the Bank of Japan alone can issue the bills and it has been decided by the law.

The bank which issues the bill of its own nation is called the Central bank in the world, and the Bank of Japan is the Central bank for Japan.

Except for issuing the bills, the Central bank has two other big jobs. The one is the bank for the nation. The tax of the large amount of money paid by the nations come into Japan as revenue.

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【The news on economy】

《What kind of bank is the Bank of Japan?》

The Bank of Japan keeps the large amount of money made up with tax as vault, and other job is deciding the interest rate.

If depositing the money in the bank, we can receive its interest. On the other hand, if borrowing the money from the bank, we have to return the money we borrowed with its interest. We pay the interest as thanks for lending money us.

Depositing money in the bank means lending our money to the bank actually, so we can receive its interest. When lending or borrowing the money, how much is the interest?

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【The news on economy】

《What kind of bank is the Bank of Japan?》

We call its rate the interest rate.

How much do banks or Shinkin banks add interest? The Bank of Japan controls their basic rate.

For example, when the economy isn’t doing well in Japan, the Bank of Japan works on the banks and Shinkin banks in the whole Japan to drop the interest rate.

If the interest rate drops, when lending the money from the bank, its interest rate is low, so we can lend money easily.

As the interest rate is low, we’re going to lend the money and to start a new job.

There is the possibility that…

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【The news on economy】

《What kind of bank is the Bank of Japan?》

There is the possibility that companies think like that increase, and if the companies adopt new employees, lots of people can work.

Besides, if a new factory is constructed, products of the company which makes the parts of building factory are sold. Thus the Bank of Japan tries to make the economy up in Japan.

On the other hand, if the economy is doing well too much, the Bank of Japan suggests to rise the interest rate.

If the interest rate is high, when lending money, we have to pay more interest, so we can’t lend the…

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【The news on economy】

《What kind of bank is the Bank of Japan?》

…so we can’t lend the money easily, and the companies which start the new job will decrease, so the economy isn’t doing well too much.

It’s nine specialists including the president of the Bank of Japan who decide the policy to work on whether rising or dropping the interest rate of other financial institution in Japan, holding a meeting once every month and deciding the policy.

Whether the Bank of Japan takes into action so as to rise or drop the interest rate. It’ll have influence over the economy in Japan greatly, so…

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【The news on economy】

《What kind of bank is the Bank of Japan?》

…so everyone pays attention to it.

What kind of policy does the Bank of Japan take? The people involved in banks overseas and others who do the job involved the money take interest in it.

By the way, I’ve expressed the top of the Bank of Japan as the president, but the governor seems to be more appropriate, so I adopt it.

As the governor of the Bank of Japan is the top of the important bank, when deciding the governor, it is done in the both of the House of Representatives and Councilors with majority voting.

Who is …

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【The news on economy】

Who is appropriate for the governor?

Its opinion sometimes divides, according to the political party in the National Assembly, and It’s a big news on politics.

《Why does become the strong yen suddenly?》

It became the strong yen around autumn in 2008. I dollar became 92yen in a short time, for the price on the stock dropped in the whole world, and investors who tried to increase their money gave up their profits and returned the money they lent from the bank in Japan.

For example, when 1 dollar changes from 100yen to 90yen, it’s strong yen. There are some people…

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【The news on economy】

《Why did the yen strengthen against the dollar suddenly?》

There are some people who think it’s the weak yen, for it changed from 100yen to 90yen, but it’s not.

If 1 dollar is 100yen, we can buy a chocolate of which price is 100yen, but if 1 dollar is 90yen, we can buy the chocolate of which price is 1 dollar with 90 yen. If thinking like that, we can understand the value on the yen rises. It’s the strong yen.

There are some people who are worried about, where is the border between the strong yen and weak yen? But there is no criterion on it. If the value on the yen…

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【The news on economy】

If the value on the yen drops, we call it the weak yen, and if rising, it’s the strong yen.

《The popularity on the money makes its price go up or go down》

Why did the yen strengthen against dollar then? Because the popularity on the yen rose.

How much is one dollar, if converting into the yen? It depends on, it’s decided by the popularity on the yen then. We call the popularity the demand in economic terms.

If there are lots of people who want to change the dollar into the yen, the popularity on the yen, the demand on the yen is high, so it’s the strong yen.

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【The news on economy】

《The popularity on the money makes its price go up or down》

On the other hand, there are lots of people who want to change the yen into the dollar, the popularity on the yen drops, so it becomes the weak yen.

The price on the stock dropped all over the world around 2008, so the investors thought they couldn’t make money any more for a while, and tried to change their money into the yen then, so the yen strengthened against dollar. What does it mean?

When lending the money from the bank, we pay the interest. The situation of being low interest continued in Japan, if…

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【The news on economy】

《The popularity on the money makes its price go up or down》

…if comparing it with overseas.

As a result, investors all over the world lent the money in Japan and changed the yen into dollar or euro and bought the stock of America, petroleum, or bought up food with the dollar or euro.

As changing the yen into dollar or euro, the popularity on the yen dropped, so it was the weak yen, but the price both on the stock, petroleum and food dropped, the investors all over the world thought they couldn’t make money for a while, so returned the money to the bank in Japan.

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【The news on economy】

《The popularity on the money makes its price goes up or down》

When returning the money at the bank of Japan, they have to change the dollar or euro into the yen, so the popularity on the yen rose up, and it was the strong yen.

In short, the money which went out from Japan returned to Japan all at once.

When being the strong yen changing the price on the yen, from 1 dollar is 100yen to 90yen, what kind of influence has over Japan?

If selling a car of which price is thirty thousand dollar to America, three million yen came into Japan before, but It’s two million and...

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【The news on economy】

…but it’s just two million seven hundred thousand yen. The profit on the company does the business overseas decreases.

On the other hand, the goods of which price was a million yen dropped to nine hundred thousand yen. If being the strong yen, the company which exports goods is in trouble, but the one which imports is happy.

《The price on the crude oil went up. Why?》

The price on the crude oil went on rising until summer in 2008, but it went down drastically winter in the same year. Why?

As the price on gasoline goes up, so we’re in trouble. The conversation may…

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【The news on economy】

《The price on the crude oil went up. Why?》

The conversation may have been done among lots of families then.

If the price on the gasoline or diesel go up, the expenditure on the transport industry will increase, so the price of various goods also rise.

The petroleum which is dug up from the underground is the crude oil. The crude oil includes various elements, and taking the crude oil to the factory so as to refine for petroleum and heat it, it will divide into propane gas, naphtha, gasoline, kerosene, diesel, and fuel oil.

Naphtha is the raw material on the plastic.

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【The news on economy】

It turned out that the products on the petroleum are indispensable for our daily life, so if the price on the crude oil goes up, it’s troublesome for us, so it became the big news.

《There is the market where the crude oil is bought or sold》

As fish or vegetable are bought or sold at the market and their price are put on, the crude oil is also done the same things and its price is set. Both of the market is expressed with 市場 in Japanese, but the way of reading is different.

The former is いちば, and the latter is しじょう.

The place where things which are bought and sold…

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【The news on economy】

《There is the market where the crude oil is bought and sold》

The place where the thing is bought and sold in front of us is called いちば, on the other hand, there isn’t the goods there, and is made a deal with by telephone or internet is しじょう.

Fish or vegetable are taken to the market and their price are set on when looking at them, on the other hand, the crude oil is dug up in the Middle East, but the real thing of the crude oil is there, so without looking at it, it is bought and sold, so the way of calling is different, the author said like that.

There are some…

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【The news on economy】

《There is the market where the crude oil is bought and sold》

There are some markets where the crude oil is bought and sold in the world, and the typical one is at New York in America.

Demand and price decides the price in the market. If there are lots of people who want, it means the demand, is more, the price goes up, and when there are lots of people who want to sell, it means supply, the price goes down.

When the war became violent at Iraq in the Middle East, digging up and transporting the crude oil becomes hard, and its supply decreases against the demand, so…

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【The news on economy】

《There is the market where the crude oil is bought and sold》

…so the price on the crude oil goes up.

As knowing it enough, when the news that the war was bigger in Iraq was reported, the people who traded the crude oil thought its price would rise, and others who thought of buying up the crude oil before its price goes up turn up, and the price on the crude oil goes up actually.

So companies which thought like the next appeared.

Its price will go on rising from now on, and if buying at present and selling when its price rise more than at present, it’s profitable.

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