The Great Recession 2008 Term Paper Example | Topics and Well Written Essays - 3000 words

The Great Recession 2008 - Term Paper Example According to the research findings the 2007 global financial crisis has had serious impacts on the economies of many countries, resulting to what economists call the Great Recession. The downturn began initially as an isolated problem with the sub-prime sector in the US housing market, mutating to a serious and fatal recession by the beginning of 2008. Consequently, other nations especially in the European Union followed the US into the crisis by mid-2008. In essence, 2009 was the first recorded year in history that the global economy was actually in recession since the Second World War. Interestingly, the recession came as a surprise to many economists, investor, academics, policy-makers, and multilateral agencies. For instance, Organization for Economic Co-operation Development’s Jean-Philippe Cotis was quoted as speculating further growth in the global economy because of the buoyancy of emerging economies and favoring financial conditions. After the economy drove into reces sion, the economics profession was under fire for failure to predict the financial downturn. As a result, there were few intellectual conversations taking place between scholars of like minds. Therefore, the underestimation of the severity of the global downturn was not surprising. Indeed, some leading financial forecasters like World Bank and International Monetary Funds revised their initial to their growth forecasts in 2008 and 2009. Nonetheless, there were warnings from a few economists of a brewing economical disaster. A portion of the economist predicted a looming recession based on economic models where the accumulation of the private sector was the central cause. However, their cries were not significant enough for the majority of the lulled individuals. Despite all these, the warning signs were blinking red: loose monetary policy especially in the US, lax in financial regulation, misperception of risk and search for yield, and huge current deficits in UK, US, and other supe r economies that accumulated huge savings of oil exporters and emerging economies. Events of 2008, with emphasis on the collapse and consequent closure of Lehman Brother, reversed the perceptions of risk-taking banks (Clungston, 2008). However, the complexity and nature mortgage-backed securities left most banks in the dark concerning the exact level of liabilities that was linked to the severing housing sector in the US. Thus, liquidity of most banks dried up, literary bringing the global financial system to a halt. Some critiques were quick to question the survival of the American-style capitalism. Governments in developing and advanced countries were quick to react aggressively, injecting obscene credit amounts into their financial markets, reducing interest rates, nationalizing banks, and unveiling stimulus packages to increase discretionary spending. Most policymakers were determined to avoid mistakes from previous crises, and their response was important avoiding disastrous de pression in most countries,

What brought about the destruction of the Berlin Wall Research Proposal

What brought about the destruction of the Berlin Wall - Research Proposal Example (Joan) Former U.S Presidents, Eisenhower and Kennedy had the U.S credibility as their agenda. For them a failure at Berlin would imply disruption in the NATO supplies and fragile American influence in the region in particular West Germany; America’s key to ensure a balance of power in the region. Thus the Berlin Wall as many say was the â€Å"flash point† of the entire crisis. (Harrison) Berlin was the foundation of power in Europe after World War II. Soviet Union which had isolated itself after the war continued to be active across the borders. Several events across the world, related or unrelated constituted to be the main casualties of the Cold War. There were a lot of battle grounds that were kept in secret and away from public eye for decades while some other epicenters like the Berlin Crisis were under considerable public scrutiny. The whole crisis began when Soviet ordered that Nikita Khrushchev the main route to Berlin Airlift of the West be blocked. Tensions continued to rise and mount for some forty years after Germany lost in the Second World War The Berlin Wall was constructed in 1961 in an attempt to prevent the crà ¨me da crà ¨me of East Germany from going to West Germany. It was built post World War II and inaugurated on the 16th August of the same year. The eastern sector of Berlin was under the control of the Soviet Union and the western sector under United States, France and Great Britain. Technically and officially East Germany also known as German Democratic Republic (GDR) was a communist state. It existed for around forty one years under Soviet control spanning it through the 1949-1990 eras. Soviet sector constituted all the major hubs including Friedrichshain, Kreuzberg, Mitte, Prenzlauer Berg, Kreuzberg, and Lichtenberg; it was also the biggest o the spot and the whole idea was to prevent an imminent brain drain, departure of well educated talented elite from east Germany. It also aimed at keeping at bay various spy

Gender Discrimination in Five Star Hotels Essay

Gender Discrimination in Five Star Hotels - Essay Example The essay "Gender Discrimination in Five Star Hotels" talks about the gender discrimination in five-star hotels and its impact on their career. Hotels are a part of the hospitality industry which is one of the oldest industries in the world. A hotel provides a temporary stay for its customers.A hotel provides a carefree atmosphere for its customers. It is a very sociable industry; its employees have a very high exposure to the customers. Looking at its contribution to the economy we can say that it is one of the most fast growing and biggest industries of the world. Almost 10% of the gross national product is due to this hotel industry. In 2005, it gave revenue of almost  £27 billion. After 2000 there was an increase of almost 4.5% in the hotel sector. In 2004, it gave almost  £11.5 billion revenue. This huge increase shows that it is one of the fastest-growing industries. In 2002, there were almost 280 000 employees in almost 40 000 establishments. London is the hub of hotel est ablishments in the UK.In recent years we can notice that the hotel sector has been growing very fast. The main reasons for this are mergers and acquisitions. Sheraton Park Tower Hotel, Marriott London Park Lane, The London Hilton on Park Lane, Intercontinental etc are all five-star hotels in the UK. There are many big names in this sector of the hospitality industry, there is almost nothing being done in case of human resource management. Employment opportunities in the hospitality profession abound all over the world.

Does the efficient market theory apply on the forex market Fundamental Literature review

Does the efficient market theory apply on the forex market Fundamental analysis Vs. Technical analysis - Literature review Example In the international trade, the buyer or seller of the products wants to have payment in his home currency. This needs an exchange of currencies from that of a seller to that of a buyer. Any international trade will involve in any two instantaneous transactions: Exchange of the products in a physical form Sale or purchase of foreign currency In any international trade, the sale or purchase of any product will affect only one the parties in the foreign exchange. Suppose, If a British importer buy ? 100,000 worth of products from an American manufacturer, and the invoice is billed in US$, the burden falls on the British importer to buy ? to complete that business transaction and vice-versa. Thus, the party assumes the risk that the exchange rate on that specific date of conversion is positive to that party. (James, Neelankavil & Rai 2009:246). The Forex market is operating on an international basis where currency of each nation is bought and sold freely. The forex system was introduced in the 1970s at the time of introduction of free exchange rates and the price of one currency, and the price of one currency against another that happens from demand and supply that are only decided by the market participants.(Dicks 2010: 5). Forex market can be termed as a perfect market as it cannot be either monopolised or controlled by any of its participants. Due to ever increasing number of transactions on a daily basis makes it as the biggest liquid financial market and as per an estimate, money transaction involves in the forex market form up to US$ 6 trillion per day. This figure is only a tentative figure as the exact amount cannot be quantified due to the transactions are not centralised on a forex single exchange. With the help of telecommunication, trading is carried over all over the globe and with electronic networks with five days in week and 24 hours a day and there are dealers quoting currencies in each time zone through the main central markets: New York, London, Frankfurt, Hong Kong, Tokyo, New Zealand and Australia. (Dicks 2010: 5). The forex market is being able to maintain its goal and avoid being manipulated or controlled by any few or one of its participants since the volume transacted is so high that if any of them would want to distort by changing price at their volition, they have to operate with hundreds of billions of dollars. That is why forex market cannot be swayed by any single participant and even though, there are scenarios where large transactions can appear to assume control of the forex market for a few minutes, the balance is restored again instantly due to the great liquidity associated. This also permits traders to derive revenues by closing and opening positions within a few seconds. (Dicks 2010: 5). The place or venue for the sale and purchase of foreign currency is called as the foreign exchange market. This research essay will make a complete literature review on an efficient market hypothesis of forex market, inc luding fundamental and technical analysis, also offers a brief history on the forex market and overview of the market in an exhaustive manner. Definition of Foreign Currency A foreign currency rate denotes to the price any person pays in one currency to buy another currency. It is to be observed that a currency is analogous to any other product namely food or gold; its price is decided by the supply or demand for the said product. For instance, if a forex dealer quotes US$ 1.35 per ?, then he is quoting US$1.35 for the sale or purchase of per ?. (James, Neelankavil & Rai 2009:247). Quotes for exchange rates are available either for instant release or for the future delivery. For the immediate delivery, the price of foreign currency is known as spot rate. Due to introduction of advanced IT in the forex transactions, now it is made possible for a spot transaction to be cleared or settled on the same day is possible. The largest consortium of the

Xipe Totec Research Paper Example | Topics and Well Written Essays - 1000 words

Xipe Totec - Research Paper Example The Aztecs conducted ceremonious events to celebrate their life. For instance, they would conduct or play a series of mock confrontations between groups of young adults. One group wore skins made from war captives and sat on mats. Xipe Totec was present in the ceremony dressed in the skin. The opposing side approached the relaxed and seated group, and provoked them in a mock war with their taunting. They would retaliate and chase their opponents. A person who was would succeed to catch his opponent could confine him to jail and awarded a gift of hanging over personal ownership. In regards to Xipe engagement in cults, it has been theorized that the origin of Xipe relate to a cult believed to be responsible for human liberation. This illustrates that the skin and the flesh of humanity is what is keeping the soul captive thus making Xipe Totec a god of hostage or bondage. Not only did Xipe Totec participate in sacred rituals, but also the Aztecs had a conviction that he was the deity th at sent eye and skin problems to the earth. The emergence of these convictions or believes have been traced to distinct renditions of Xipe Totec often shown with bursting or blistering eye. This is symbolic to the Aztecs in that it shows one of the motivators for sacrifices in the Aztec culture. Therefore, the Aztec’s believed that in order to achieve enlightenment and inversion, it was significant to conduct sacrifice. Xipe Totec also had a great influence to the craft industry in that Xipe was linked with obsidian artisan. The ceremony would be followed by a visit to people’s houses where they would ask for alms in exchange for blessing Xipe Totec. Xipe Totec tells us much about the culture of the Aztec people. It reveals that the Aztecs were primarily an agricultural culture that relied on farming for their livelihood. In addition, it is easy to realize that these people were dedicated to their religion in the sense that through the picture of Xipe Totec, there is e vidence of human sacrifice that was prevalence in their ceremonies to the gods. The dress was also a significant part of the Aztec faith and daily life style. The Aztec people had an advanced civilization for their government participation, religious faith, and family life they lived a productive and

Performance Analysis Between Told by and Idiots The Horse You Rode In Essay

Performance Analysis Between Told by and Idiots The Horse You Rode In On and Earthfalls The Factory - Essay Example Analysis of a play or a stage show initially demands the nature of its theme and in this point of viewer can make out the theme of political satire in And the Horse Your Rode In On. It is not possible for a viewer or critic to approach the Horse Your Rode In On merely an entertainment and the plays have need of a special attention from the viewer because of its effort of social criticism. In the same way, the dance program entitled The Factory bestows a new theatrical experience for the viewer through its magnificent performance. As a piece of popular theatrical performance, both Told by an Idiot and Eartfall made a unique effort in creating their latest works as a delighting one. It is obvious that And the Horse Your Rode in On captures the attention of its viewers through its theme and unique structure. Unlike And the Horse Your Rode in On, Ear fall’s The Factory marked its greatness through its magnificent movements. Both of them have their own compensations as well limitat ions in designing and performance. Hayley Carmichael and Paul Hunter tackle politics in first time and most of the events in this stage show concerned with politics and related violence. Advocates of the show design the performance of the characters of the show with the presence of number of intersecting narratives which illustrates political events. In this respect Brian Logan observes; â€Å"the show's ostensible subject is "extreme acts of violence and the lengths people will go for their beliefs" (Logan, 2011). Producers of the show effectively used the possibilities of black humor in their play. Director practices variety of performance strategies like mime, singing, one act play, and fart noises. All these techniques help the viewer to justify the intentions of its makers. The image of Conrad’s bomb-carrying anarchist permits the viewer to analyze the existence of armed revolution in modern world. Characters of the play made a conscious effort to create funny moments t hroughout the play and through these funny moments they transformed their criticism. Mat Trueman rightly comments that â€Å"Its outwardly jocular demeanor delights in slapstick and silly voices, but its core is a passionate reflection on revolution drawn out of a pop-cultural mash-up† (Trueman, 2011). The problem of identity crisis and gender issues that affected in modern society are obviously weaved in the play and viewer can hit upon the fact that the honest approach towards its theme is a significant reason for its general acceptance. One can begin the discussion about the performance of the play And the Horse Your Rode in On with a statement that it is not possible for a viewer to come across many occasions which makes much sense. Therefore, it is better for a viewer to watch it without prejudiced mind and stay away from questions about the reason behind it. The great thing is that the conclusion or moral of the play is brilliantly formed through a serious combination o f different stories and the outstanding performance of its actors. The entire play mirrors the inability of common people to have a handle on the real intentions of political parties and also the failure of people to be aware of terrorist’s motivations. The viewers can understand how an individual or a person with good intentions changed into an anarchist or how the lives of victims or revolutionaries changed into a moment of explosive. The great challenge that the performers faced was that the creation of humor in the play. It is evident that the

Comprehensive Examination Essay Example | Topics and Well Written Essays - 500 words - 1

Comprehensive Examination - Essay Example is a renowned philosopher, psychologist and educational reformer whose thoughts, teachings, and ideas have been very influential on the American society as well as around the world (Neil, 2005). John Dewey believed that learning needs to be active and not long and restrictive. He believed that children could learn much more if things were aught on a practical basis rather than only theories. Dewey has written a number of works in various subjects however his most famous subject is education. Dewey has won a number of awards like the Doctor â€Å"Honoris Causa† from university of Oslo, Pennsylvania, Yale and Rome and he has also won Copernican Citation in 1943. Dewey’s theory was presented in ‘My Pedagogic Creed’ (1897). According to Dewey education is a necessity of life and every person starts learning right from the time of birth. A teacher plays a very important role in the educational system. It is up to the teacher to help stimulate the child’s powers by ensuring the child faces a social situation which stimulates the child’s powers. It is essential that the teacher understands the need for a student to be a part of the social society, and that the person being educated is a social individual and is a part of the society which is an organic union of individuals (Emand, 2000). If any one of these are eliminated it would cause a very bad effect on the child’s education as well as the life of the individual. According the Dewey’s theory it is always better to make children study in a more practical way rather than in a standard classroom structure where the students thoughts are limited and the students are not given a chance to bloom and bring out fresher ideas. As he has already mentioned it is also possible to teach children maths by learning proportions in cooking or even time limits in travelling between places by a mule can help children develop their mathematics skills. Also the teaching structure for this type of education would require