The Credit Crunch of 2007-2008 Essay Example | Topics and Well Written Essays - 1000 words

The Credit Crunch of 2007-2008 - Essay Example As shown in the diagram underneath, this led to rising housing prices since decades. In 2000, the rate of increase of house prices was rising at unsustainable levels, much faster than they had in the last decade. Sub-prime mortgages (mortgages to high risk customers) began to rise due to availability of cheap credit (Mizen). The low interest rate environment stimulated upsurges in mortgage backed financing and hence considerable increases in house prices. It encouraged investors (financial institutions, such as pension funds, hedge funds, investment banks) to design instruments that offer yield enhancement such as subprime mortgages. The bullish attitude of Wall Street led to creation of complex structured products such as collateralized debt obligations (CDOs) and a lot of repackaging of high-risk mortgage backed securities. The credit and house price bubble led to a real-estate boom and eventually to a surplus of unsold homes, which triggered U.S. housing prices to peak and before declining and bursting in mid-2006. Subprime borrowers began to default on their loans as real estate prices decreased further. The default on a significant ratio of subprime toxic assets produced cascade effects in financial markets via the securitized mortgage derivatives into which these mortgages were bundled, to the balance sheets of investment banks and hedge funds. The vagueness about the value of the securities collateralized by these mortgages spread chaos and concern over the soundness of loans for leveraged buyouts. That led to the freezing of the interbank lending market in August 2007, collapse of key financial institutions such as Lehman Brothers and triggered the credit crunch crisis. 2. Economists classify macro-economic indicators as leading, lagging, or coincident. Define each classification and give two examples of each, relating them to the recession that began in 2007 and the recovery that is now under way. ? Economic indicators are periodical statements by the government and private institutions that describe the health of a country's economy. Economist classify these indicators into lea ding, lagging or coincident kind that are described below in detail: Leading Indicators: Leading indicators are economic indicators that predict future events. They are foreign exchange indicators that change beforehand the change in the market or economy has occurred. Examples of leading indicators may include bong yields, inventory variations, stock prices and insurance claims. Economic establishments and central banks study leading indicators in expectation to fluctuations in expected interest rates. A forex-leading indicator is a pointer that advises the trader to buy or sell before a new trend in the market commences. Leading indicators, however, are difficult to recognize and could lead to misleading results or interpretations if not analyzed by an experience trader. Two examples leading indicators for the financial crisis of 2007 are stock prices (500 common stocks) that reduced by 8% in 2007 (The Conference Board) and Building permits that reduced by 16% leading to a 40% dec line in US Home Construction Index. Lagging Indicators: Lagging indicators are indicators that follow an economic event. These indicators usually exist three to twelve months after the economy. Lagging economic indicators are the confirmation to outline the peaks and troughs that

Morrie Essay Example | Topics and Well Written Essays - 1000 words

Morrie - Essay Example to always be able to look at death itself straight in the eye and fight back no matter how hopeless the situation can be and then be on the positive side of things, to look at the future in an optimistic way.The professors future looked short as he has only a few months left to live but he managed to touch everyone around him, from family, relatives, peers, colleagues, and even complete strangers who saw his interview with Ted Koppel when it was shown on television. This paper discusses the important things in life worth knowing about to be happy on earth, in particular, how to live life fully by learning how to die gracefully. Despite being diagnosed with ALS with a very bad prognosis, Morrie Schwartz, the old and sickly professor mentioned earlier, was fiercely determined to live a useful life. He is of the belief that dying people need not be entirely useless; instead he encouraged all people who knew him to come and visit him if they had the time and the inclination so he could still be available to listen to their problems and perhaps give them a piece of useful advice. Morrie Schwartz was indeed a wonderful listener who can help other people because he had empathy and understanding; by letting them unload their problems to him, he would willingly listen despite his pains from the ailment. He was fond of aphorisms, of which the statement, â€Å"once you learn how to die, you learn how to live,† he said (Albom 82) had a very profound meaning for everyone who will listen. What he had meant with this statement is that people looking at impending death realize how precious life and valuable is, tha t these people suddenly realize the importance of the idea of living life to the fullest which means enjoy life without any hesitations or reservations about what other people may think and not waste a minute of it on trivial things that do not really matter in the grand sweep of life. In other words, most people go through life as if sleep-walking, doing things

Reflection Paper on Criminology Group Presentation

Reflection Paper on Criminology Group Presentation I found that making this academic presentation to be a very challenging experience. This was mainly down to working with a group of people that I dont know, another factor that may have contributed is that I had to study an area of London that Im not familiar with. Despite how challenging I thought the experience was I also found that working on, and presenting the presentation to be a rewarding experience, this was because I was able use theories I had learned and apply them to a specific area. The groups we were in were allocated at random, this was done by giving each person a number between one and four, the number you were given is the group that you are in, this led there to mixed groups with mixed levels of ability. I found the process to be quite bothersome as I was split from the friends I had formed in the seminar group, the group I was put into consisted of four people. After being allocated into are groups were told that for the presentation we could choose any post code to research as long as it was in London. After this we were then told that we had to gather information about that specific area and that we had to use different theorys to explain the information we had gathered. At the end of the seminar the group I was in all exchanged contact details so we could talk over the up coming independent learn week. Over the independent study week we decided as a group which area we want to study which was Harlesden. The task I was given was to pick a crime of my choice and gather statistics on the crime using the Metropolitan Police statistics website, later on I would use the theories that we had been taught in our lectures and seminars to explain the crime I had picked. Another part of my task was to find statistics and information about the housing in Harlesden and try and compare them with the crime statistics I had gathered. It took a bit of time but I did finally decided on the crime I was going to pick and the crime was robbery. After I decided I then looked on the internet for information and statistics for robbery, the main website I used was the Metropolitan Police statistics website as it was reliable and we were shown how to navigate the website in the seminar. Finding reliable robbery statistics was quite straight forward to do as the statistics on the website were up to date and were fairly easy to understand. This was quite the opposite to the information on housing on the MET Police statistics website, the most difficult part, for me at least, was trying to decide what information was relevant and useful and separating it from the useless irrelevant information. Another factor that hindered me was that the majority of the information was outdated which made it unreliable. This problem was not just isolated to me as other members of my group also faced being confronted with too much information and having to deal with outdated statistics. It was useful that the group I was in would meet up twice every week outside of the seminars to discuss the progress that we had each made, it also meant that we could discuss any issues that we were having and voice any concerns that we had about the presentations. One problem with this was that one member of the group almost always never showed up to the meetings which isnt useful for the group or the individual. During one of the first meetings we had I told my group about the problems I was facing trying to find reliable information on housing, the group helped me decided that I should just gather the statistics for robbery in Harlesden. After I have done this they told me I can then use these statistics and compare it with the previous year, the thinking behind this was that by comparing the robbery rates of this years and the previous year we can show whether or not the actions being taken by the police or preventions the police ha ve put in place to decrease robbery in Harlesden are truly working, they also suggested that I should compare Harlesdens robbery rate against the MET total as this would show how Harlesden compares with robbery rates in terms of the whole of London. In my presentation I used three theories to explain robbery, the three I chose to use were the classicist approach of rational decision, zones of transition theory and also the relative deprivation theory. All three of these theories had been taught in the lecture, nevertheless I found that by doing my own personal reading and internet research it helped me fully understand these theories and then be able to apply them to the statistical data and explain robbery. The readings and internet research that I did meant that I was able to write a great statement on why robbery in Harlesden is committed, whilst also knowing the theories to a degree that I would be able to explain them during my presentation. As a group before the deadline we decided that it would be easier and more useful to do four individual presentations instead of one big presentation. During my presentation I felt that my presentation skills could have been better, this was maybe because it was the first presentation I had to do at university and nerves may have played a part. The fact that we decided to do individual presentations may also have been a factor because when your in a group others could bring up points that maybe you might have forgotten in the moment and help you through moments when you need it. All but one of my groups individual presentations seem to go alright, the one that went quite wrong was the person that never showed up to any of the group meetings, there presentation was one slide long with not much information on it and they didnt seem to have tried to complete any of the tasks we set them to do. It was quite frustrating to see because if they had turned up to group meetings they would hav e found that completing the presentation to be quite easy. If I was to change anything it would most likely be to practice my presentation skills, as I felt that this was the part that let my presentation down, this would have made presenting the presentation easier and may have even improved the grade that I received. Before I began to look at Harlesden I little idea where it was, and had almost no information about the area. This meant that I got my first impression of Harlesden from the MET police crime statistics, this in turn gave me the feeling that maybe Harlesden was a area that was maybe rife with crime. This changed however after having done more investigating in to area and having spoken to the two people in my group that live there, my impressions have now changed and I now view Harlesden like most other place, there are some better areas and there are some worse areas. This shows how working in a group can be beneficial as they helped me see that I shouldnt judge a place on just statistics and that you need to speak to people that live in the area to fully understand the area. If I had been in a group with people that didnt live in Harlesden I believe that my first impression of the area would still be the impression that would have today, yet having people in my group who had experien ced Harlesden first hand and could talk about the experiences they have had helped assist in changing my first impression. I felt this presentation helped me because I was able to improve on my weakness which I had which was my presentation skills and this allowed me to improve this in a later presentation I did for another module. So reflecting on my experience of this presentation allowed me to improve the capacity to reflect on action so as to engage in a process of continuous learning (Schà ¶n, 1983:173). This experience also showed that I was able to complete my research and gather information and deliver it in a presentation which was a new thing for me. At first I didnt feel confidence that I would be able to deliver a good piece of work, but by working with others it has shown me that if you all work together on a piece of work it doesnt seem as daunting and it will make the experience more rewarding. Bibliography Schà ¶n, D (1983) The Reflective Practitioner: How Professionals Think In Action. New York: Basic Books

Electronic Self-checkout System Essay -- Technology, Cashier Checkout

A number of empirical studies have concluded that a customer’s attribution of the cause of a delay significantly affects its emotional consequences (see Taylor, 1994; Tom and Lucey, 1995). According to these investigations, customers are more unsatisfied with longer than expected waits caused by difficulties that the store could have remedied (e.g. inefficient checkout personnel, understaffing, failure to provide express checkouts) than with delays due to external factors such as random variations in store crowding, till breakdowns, the time of day (some periods are inevitably busier than others) or the presence of customers with large amounts of shopping. This was especially true if little effort on the part of the service provider was needed to improve the situation and/or the problem creating the delay was a regular occurrence. It appeared, therefore, that the reasons for a long queue were major determinants of customer satisfaction or dissatisfaction, not just the delayâ⠂¬â„¢s duration. The Psychology of Combining Queues Combining queues have proven not to be a good technique for managing queues in grocery stores and supermarkets. Studies have shown that even though combining queues have been successful in some service organizations, these techniques have proven to have negative results in grocery stores. Among the factors that cause delays of customers who are in line at the checkout counter in grocery stores is management’s attempt to combine queues. Contrary to common calculations, there are reasons for believing that combining queues, especially queues of customers in checkout lines in grocery stores, may at times be counterproductive. Rothkopf and Rech (1987) in their seminar had one participant citing the practice of combini... ...e service more valuable and were willing to pay much more for it when they found out there were more people behind the positions that were held for them. There exists a universal human tendency to learn about ones self through comparison with others (Gilbert, Price and Allan, 1995). Customers in checkout lines tend to compare their position in line with those of other customers. However, seeing people behind is somewhat a comfort since ―there are people worse off than meâ€â€", therefore making the experience less painful. The study outlined three sets of factors (queue factors, personal factors, and situational factors) that might shape the extent of social comparisons, each of which is tested. Hkust and Hkust (2002) expressed that limited research studies have been conducted to determine how service waits can be controlled. To control the time customers’ wait in line,

An Overview on Federal Budget Situation of the Year 2001

The summary provides an overview on federal budget situation of the year 2001, with emphasize on federal debt over the previous years, and with reference to historical data, budget structure, its management, economic uses and future evolution. The report deals with a temporary positive turn of situation over the time period 1998-2001 regarding the state of federal budget. Previously, U. S. economy had confronted with a severe recession. Government had run a budget deficit of $168. 1 billion in the fiscal year 1988, $152. 1 billion in the fiscal year 1989, $220. 4 billion in 1990 and a $288 billion deficit in fiscal year 1991. The economic decline reached its lower limit in the fiscal year 1992, when US Government ran an alarming $293. 2 billion deficit. However, the next years brought about the long awaited change. Thus, the economic situation set out to recovery as lower deficits started to be achieved: $254. 9 billion in 1993, $233 billion in the fiscal year 1994, $164 billion in 1995, $107 billion in 1996 and $22 billion in the fiscal year 1997. After more than 30 years of repeated deficits (the last budget surplus had occurred in fiscal year 1969), the situation finally seemed to turn for the better as the U. S. Government ran a budget surplus of $69 billion in fiscal year 1998, $125 billion in 1999, and $236 billion in fiscal year 2000. For the fiscal year 2001 the Congressional Budget Office (CBO) estimated a $281 budget surplus whereas estimations up to $5. 6 trillion have been made regarding the cumulative budget surpluses over the next 10 years. Nevertheless, in spite of all optimistic anticipations, budget surpluses kept authorities waiting, as they stubbornly refused to measure up to CBO's expectations. Not only that, but economy plummeted once more into depression, only months after it was believed to be on the right track to full recovery. Nonetheless, the worst did not happen and, even though budget surpluses are yet to be achieved, at present economy fights its way out of depression. For all that, analysts remain skeptical about this so called recovery. Several arguments have been brought to support this idea: firstly, it is considered that since the economy increase is not based on job growth or significant investment in productive capacity, it is not viable and long -lasting. Secondly, analysts argue that economic growth is due to unsatisfactory job creation. Thus, new jobs are largely non-union, and paid considerably less than those that have been down-sized. In addition, job creating averages 188,000 per month since November 2004 and taking into consideration that the economy needs around 150,000 jobs just to keep pace with new workers entering work force market, this is a sign of stagnation. Thirdly, living and working conditions have become worse for millions of Americans which is an indicator of a phony economic growth. Finally, Bush's administration has more cuts in view, which will lead to further degradation of quality life. Tax cuts and increased military spending have deepened even more the hole in the budget deficit. Thus, the U. S. Government ran a record $113. 94 billion deficit in February 2005, surpassing the $96. 70 billion deficit in February 2004. The total deficit for the fiscal year 2005 is estimated at $427 billion. Statistically, this means that the U. S. must borrow $1. 2 billion daily to clear off the debt. Moreover, the total national debt is as high as $7. 7 trillion and this means well over $26,000 per U. S. citizen. Because this is money that has to be paid back with an interest, analysts argue that within the next ten years the U. S. Government will no longer be able to borrow enough money as to keep up with expenses. In addition, the trade deficit has increased by $500 billion since 1993. In 2004 the trade gap set a new record of $617. 1 billion, whereas predictions for fiscal year 2005 are even gloomier. Moreover, inflation and interest rates indicators are all pointing to an unstable economic situation in which the tiniest shock can tip the balance for the worst. Thus, perspectives on U. S. economy are bleak and demand for immediate responsible action. Looking back to 2001 predictions, we may conclude that analysts of the time have considerably fed on air. Had it not been for their lack of realism, perhaps the current crisis would have been avoided. Nevertheless, economic predictions are extremely difficult to make with any precision as they often involve contradictory data.

Fast Food Advertising Essay Essay

Advertisements are everywhere. Billboards, Newspapers, Pamphlets and most importantly television. However, there are many people who are concerned about fast food ads, that are running during children programmes. Concerned about children’s wellbeing, people want a ban on fast food advertisements during children programmes. This is because of the addiction, the amount of money being wasted and that children have a lowered pre-frontal lobe capacity. Even though junk food is good to consume every now and then, it should be ban during children TV programmes. There are many addictions, which include alcohol, drugs and smoking. These are dangers that need to be taken seriously. Even though fast food is not the most important, it is still a hazard. The reason many children become addicted towards fast food is how they describe the product. These words include ‘Succulent Fresh Fillets’. This would make children want more. Fast food addiction leads towards obesity which could involve in organ problems such as Type Two Diabetes. This is why fast food advertisements should be banned during children TV programmes. There are many things that parents waste their money on for their children. Lollies, toys, entertainment. However, the major issue is buying junk food. Children persuade their parents to buy a product which leaves them in enjoyment while the parents suffering from a loose of money. Instead of buying junk food, something useful could be bought with the money such as clothing and fresh food which is a much better option. An alternative solution would be to buy Subway which is a healthier option and tastes as good as fast food but junk food ads should not be running during children TV programmes. Children at the age between 0-5 have difficulty understanding that commercials are products that do not actually function as advertised. Furthermore, children at a very young age can understand brand names. Since children also have a lowered pre-frontal lobe capacity which is the part of the brain connected with higher thinking and inhibition of behaviour, it stands to the light of reason that, because children do not have the capacity to make a rational decision making, advertisers target them easily by taking advantage of individuals. This is why junk food advertisements should be ban during children TV programmes. It is important to know that junk food is not a major hazard for teenagers or adults but for children. This is because of the addiction, the amount of money being wasted and that children have a lowered prefrontal lobe capacity and should be banned during children TV programmes.

Ap Biology Lab Report 4 Essays

Ap Biology Lab Report 4 Essays Ap Biology Lab Report 4 Paper Ap Biology Lab Report 4 Paper Introduction This study was performed in order to gain more knowledge on mitosis and meiosis. This lab was done by observing mitosis in plant and animal cells, comparing the relative lengths of the stages of mitosis in onion root tip cells, stimulating the stages of meiosis, observing evidence of crossing-over in meiosis using Sordaria fimicola, and estimating the distance of a gene locus from its centromere. Mitosis is the scientific term for nuclear cell division, where the nucleus of the cell divides, resulting in two sets of identical chromosomes. Mitosis is accompanied by cytokinesis in which the end result is two completely separate cells called daughter cells. There are four phases of mitosis: prophase, metaphase, anaphase and telophase. Meiosis is a two-part cell division process in organisms that sexually reproduce. Meiosis produces gametes with one half the number of chromosomes as the parent cell. There are two stages of meiosis: meiosis I and meiosis II. At the end of the meiotic process, four daughter cells are produced. Each of the resulting daughter cells has one half of the number of chromosomes as the parent cell. Mitosis was studied first in this lab. The phases of onion root tips were observed under a microscope. The crossing-over of chromosomes in meiosis was observed by viewing photos. Hypothesis If looking under a 400 power microscope, than it is possible to observe mitosis occurring in whitefish blastula and onion root tips. If crossing-over occurs in meiosis, than the genes do not segregate until meiosis II. Materials and Methods All materials and methods followed based off of lab manual. Results Activity A: Observing Mitosis Interphase Cells Plant Cell Animal Cell Prophase Cells The cellular organelles doubled in number, the DNA replicated, and protein synthesis occurred. The chromosomes are not visible and the DNA appears as uncoiled chromatin. Prophase Plant Cell Animal Cell The chromatin condensed and the chromosomes became visible. The nucleolus disappeared, and the spindle forms and attaches to the centromeres of the chromosomes. Early and late prophase can be seen. In late prophase, the chromatin has condensed into chromosomes, the nucleolus is gone, and the nuclear envelope has been removed. Metaphase Cells Plant Cell Animal Cell The nuclear membrane fragmentation is complete and the duplicated chromosomes lined up along the cells equator. Anaphase Cells Plant Cell Animal Cell Diploid sets of daughter chromosomes separated and were pushed and pulled toward opposite poles of the cell. This was accomplished by the polymerization and depolymerization of the microtubules that helped to form the mitotic spindle. Telophase Cells Plant Cell Animal Cell The nuclear membrane and nucleoli reformed, cytokinesis is almost done, and the chromosomes uncoiled to chromatin. Daughter Cells Plant Cell Animal Cell The daughter cells formed and constructed a new dividing cell wall between them. Each daughter cell received a copy of the genome of its parent’s cell. Analysis of Results, Activity A: Observing Mitosis 1. I can infer that the two cells came from the cell a long time ago because they have similar organelles. 2. Two ways that mitosis differs in the cells of animals and higher plants is in cytokinesis and right before prophase. In plant cells, there is a pre-prophase right before prophase takes place. . A) Nuclear envelope disappears in prophase; nuclear envelope reappears in telophase B) Mitotic spindle forms in prophase; mitotic spindle disappears in telophase C) Chromatin condenses into chromosomes in prophase; chromosomes unwind to form chromatin in telophase D) Centrosomes are at opposite ends of the cell in metaphase E) Nucleolus disappears in prophase 4. The three sub phases of interphase are the G1 phase, S phase, and the G2 phase. I n the G1 phase, cell synthesizes proteins and produces cytoplasmic organelles. In the S phase, DNA synthesis occurs, and in the G2 phase, the cell beings forming the spindle. 5. Both prokaryotic cell division and eukaryotic cell division replicate their DNA and use the process of cytokinesis. Activity B: Estimating the Relative Lengths of Mitotic Phases Table 1: Group Count | Number of Cells| | Field 1| Field 2| Field 3| Total 1-3| Interphase| 52| 46| 57| 155| Prophase| 22| 25| 29| 76| Metaphase| 16| 11| 9| 36| Anaphase| 5| 8| 5| 18| Telophase| 14| 10| 8| 32| | Total| 317| Table 2: Class Data Class Totals| Decimal Fraction of Total Count| Estimated Time Spent in Phase| Interphase| 582| . 46| 13968| Prophase| 305| . 24| 7320| Metaphase| 148| . 12| 3552| Anaphase| 65| . 05| 1560| Telophase| 171| . 13| 4104| Total Cells Counted| 1271| | Analysis of Results, Activity B: Estimating the Relative Lengths of Mitotic Phases Pie Graph 2. Stages of Mitosis Ranked 1) Interphase 2) Prophase 3) Metaphase 4) Anaphase 5) Telophase 3. Some phases of mitosis are longer than othe rs because each phase has a different task, and some of the tasks of the phases are harder than others. For example, interphase takes longer than other phases because the nuclear envelope fragments and the microtubules attach to the chromosomes. Telophase takes the least amount of time because chromosomes only go to opposite ends of the cell and a nuclear membrane forms. Activity C: Simulating Meiosis Analysis of Results, Activity C: Simulating Meiosis 1. Sixteen combinations of the two chromosomes are possible. 2. Number of chromosome combinations= 3. There are possible combinations of chromosomes for human gametes. 4. There are possible combinations of chromosomes for the offspring. 5. The relationship of meiosis to variation in populations is that genes are able to move themselves and combine with different sets of genes that aren’t present in the parent. This causes a higher chance of survival. 6. Three ways that meiosis differs from mitosis are that meiosis occurs in reproductive cells, while mitosis occurs in somatic cells. In meiosis, a mitotic mother cell is always diploid, while in mitosis a mother cell can be haploid or diploid. In meiosis, two divisions of the mother cell causes four meiotic cells, while in mitosis, a single division of the mother cell causes two daughter cells. Activity D: Crossing-Over and Map Units Analysis Results, Activity D: Crossing-Over and Map Units Table 3 | No. of MI Asci (4:4)| No. of MII Asci (2:4:2 or 2:2:2:2)| Total Asci| %MII Asci (No. of MII/Total)| Gene-to Centromere Distance (%MI/2)| Group Data| 45| 65| 110| 59%| 29. 5 (30)| 1. Crossing-over increases genetic variation because when the chromatids exchange sections with each other, they get new combinations of alleles that their parents had, which causes more chromatids. . I would expect to find more genetic variation in the population of species B because it’s undergoing sexual reproduction. In sexual reproduction there is more changeability because the new generation has many combinations of the genes of the two parent organisms. 3. I would conclude that there was no occurrence of recombination since the MI Asci w ould be a 4:4 ratio. Discussion My results proved my hypothesis. This is so because by looking through the microscope it was possible to view the stages of mitosis in the onion root tip and the whitefish blastula. The stages of mitosis that were visible were prophase, anaphase, telophase, interphase, and metaphase. The time spent in each phase was also figured out. Interphase was the phase that the cell spends most of its life in. Telophase was the shortest phase. We stimulated the stages of meiosis using red and yellow magnetic beads. Crossing-over in Sordaria was observed by looking at photos. Afterwards, the map units were determined. We discovered that the distance of the gene relative to the centromere in the Sordaria was fifty-nine map units.