Identifying Minerals by Streak Tests

Financial Crises And Its Effects On Global Economic Crisis

The 2007-2008 Financial Crisis- Its Causes and the Involvement of the FED The financial crises that occurred in 2007-2008 had such a big impact on the world that it is now considered a global financial crisis (GFC) or global economic crisis. It is commonly believed that it began in July 2007 with the credit crunch; U.S. investors lost trust in the value of subprime mortgages which caused a liquidity crisis. This had the effect that the U.S. Federal Bank injected a large amount of capital into the financial markets. By September 2008, the crises had worsened as stock markets around the world became highly volatile. This paper will examine the causes of the financial crises in 2007-2008, as well as the involvement of the FED in†¦show more content†¦Even though, they could not provide any assets, they wanted to realize their dream to buy their own home. Bankers who were willing to give them loans caused an increase in the number of home loans, and more people were able to buy their own house. As a result, an appreciation in home prices occurred. Easy credit and the upward spiral of home prices made investments in higher yielding subprime mortgage look like a new rush for gold (Thomas, 2011). The Fed interacted by reducing interest rates in June 2003 to 1%, which was, at the same time, the lowest interest rate in the last 45 years. The concerns began when interest rates started to rise and home ownership on the other hand, reached a point of saturation. After June 30, 2004, the Fed started to increase rates at such a high level that two years later, the Federal funds rate had reached a much higher rate of 5.25%. Also by 2004, homeownership had peaked at 70%, and as a logical consequence, the majority of people were not interested in buying homes anymore. In the last quarter of 2005, home prices started to decline, which also led to a 40% decrease in the U.S. Home Construction Index during 2006. Not only were new homes being affected, but many subprime borrowers now could not withstand the higher interest rates and they started defaulting on their loans (Chan, 2011). This had the consequence that two years later, in 2007, every month, several subprime lenders were filing for bankruptcy which

Loans For The Unemployed May Be A Solution - 1576 Words

Every week our national news media announce the latest unemployment figures and it is never good news. Every week the percentage grows and the speculation of future forecasts are always the same: unemployment is expected to continue to rise. Current economic times are extremely dismal for the working class; however, that has not caused the creditors of the ever-increasing unemployment rolls to turn a blind eye to their credit obligations. Payments are still expected on a timely basis and repercussions will ensue if the now unemployed borrower is unable to meet their obligation. What is a person to do? Loans for the unemployed may be a solution. Loans for the unemployed are unsecured loans that do not require a credit check. The provider does not require the borrower to have any type of collateral to qualify. The fees for this type of loan are higher than conventional bank loans. The terms of service for loans for the unemployed vary, depending on the borrower s need and ability. The y can range from one year up to 10 years for loan amounts from a low $500 to as much as $20,000. Unemployment status generally creates a new budgetary mindset that the individual never had before. New and better ways to utilize the money now available materialize, enabling them to do more with less. Over time these new practices become new habits that are carried over after the unemployment crisis has passed. Things that were once thought to be unbearable are now feasible and not as bad aShow MoreRelatedShould College Tuition Be Paid?1687 Words   |  7 Pagesable to actually pay for college. College tuition is high in price and increases every year, making it almost impossible for students to graduate without extreme debt. There are scholarships, financial aid, and loans to help out those who cannot afford to pay high tuition prices, but these loans are not desirable as they lead to this debt immediately after graduating. There is the help of financial aid, which is based off the parent’s income unless you are 23 and over, but financial aid can be difficultRead MoreStatistics : Statistical Concepts For Research1678 Words   |  7 Pagescan help in our everyday life. Let us beginning by discussing the tem statistics. â€Å"The term statistics, originated from the Latin word â€Å"status,† meaning â€Å"state.† (Johnson and Bhattacharyya, 2014). For many when the term statistics is mentioned, one may tend to think of numbers that compare how something was viewed by another set of persons or things compared to another set of persons or things. However, statistics is so much more than that. â€Å"Statistics help provide a solid basis for improving theRead MoreEssay on Generation Differences: Millennials in the Work Field1438 Words   |  6 Pagesmakes work ethic hard to define for millennials since even finding a job and paying for school has become difficult. Another problem is that older generations are judging millennials work ethic because it’s simply different from theirs. The best solution would be if work ethic could be redefined as not just the belief of hard work and its benefits, but the belief of being able to ha ve an equal balance between work and free time, or if millennials no longer cared about what other generations say.Read MoreEssay on The Decline of Auto Purchases in 20081421 Words   |  6 PagesIn 2008, an absolute indication of a recession was the decline in auto buying, insurance companies requiring assistance, retail stores closing with massive lay-offs stemming from these markets. As a result, these individuals now unemployed were unable to pay their monthly mortgage payments which resulted in home foreclosures. A foreclosure is legal proceeding that bars or extinguishes a mortgagor’s right of redeeming a mortgaged estate (â€Å"foreclosureâ€Å", n.d.). In New Jersey, the statewide foreclosureRead MoreHow to Solve the Foreclosure Crisis977 Words   |  4 Pageschoices. The number of unemployed and homeless is increasing at an alarming rate. Many feel like there is nothing that can be done to remedy the situation, especially when the enormous debt that the United St ates has already accumulated is considered. There is not just one simple step that can be taken to fix this serious problem, but there are a series of things that the government and financial agencies can do to help gradually improve the situation, including more selective loan dispersal, loweringRead MoreIt Takes an Entire Nation to Solve an Economic Crisis Essay example1229 Words   |  5 Pagesan Economic Crisis The foreclosure crisis is genuine and terrifying for what it could mean for America’s economic future. Home foreclosure may result from unemployment, excessive and unexpected medical costs and family problems. These issues are more chronic than they are acute and so it is impossible to say that there is a quick fix or a single solution to solving the foreclosure crisis. While some individuals want to wait out the crisis and let it fix itself, I believe that the current administrationRead MoreMaking College More Affordable For Students1000 Words   |  4 PagesJennifer Barksdale Professor Bonner HUM 101 May 8, 2016 Making College More Affordable For Students The continuous rising cost of higher education is frequently spoken about today and deserves much more attention then it receives. College tuition for students is a rather large investment and considered to be one of the most expensive to make. As college tuition prices are continuously increasing so is the cost of housing. The average American family is finding it more and more difficult to beRead MoreYouth Unemployment in Nigeria1200 Words   |  5 Pagesbillion and we have a nominal per capita income of $1, 4011. Nigeria also has the second largest economy in Africa. If I may ask, is this country not blessed? Yet, it is still plagued by youth unemployment which had been one of our major problems in recent years. Both government and the private sector had discussed this issue at forums and conferences but have not found a solution to it. Its continued existence had been linked to lack of power supply and financial empowerment for youths. Youth unemploymentRead MoreEssay on Explo ring Solutions to the Housing Crisis in America1202 Words   |  5 Pagesthis easy money was the obvious lack of responsible financial regulation. â€Å"Stated income† allowed anyone to easily commit fraud for a home loan, and banks weren’t worried about the money they lent since the loan was ultimately backed by the government. Sub-prime borrowers were given the opportunity to get mortgages, and no money down allowed people to get a home loan without really having â€Å"skin in the game.† Second mortgages were only icing on the cake and people figured that as long as house pricesRead MoreHow to Solve the Foreclosure Crisis1146 Words   |  5 Pagesforeclosure crisis is to provide assistance to mortgagees in making the monthly loan payments; this assistance should be in place before the first loan payment is due. One solution in providing assistance, which would not require any additional governmental funds to be spent, would be a mandatory mortgage equity accelerator program for every new loan written. A mortgage equity enhancement program allows a thirty year mortgage loan to be repaid in approximately twenty-five years. The total monthly payment

The United States A Multibillion Dollar Industry

Healthcare in the United States is a multibillion-dollar industry. Over time, the number of elderly people which have fallen victim to Medicare and Medicaid billing fraud has sky rocketed at an alarming rate. The Elder Abuse Nursing Home Neglect Attorneys refer to this as an â€Å"overbilling epidemic† (n.d.). This means that many elders are being charged more money for the services they are receiving or in some circumstances, paying healthcare providers without receiving any care. Since most of them are unaware of what they are being charged for or how much they should be charged, they are easily taken advantage of. Medicare and Medicaid, which were formed to help and maintain the health of people deviated from that over time into an†¦show more content†¦Upon reading further into Medicare and Medicaid billing fraud, I have learned that there are many types of fraud. Doctors who commit fraud can do so in many ways, such as billing for services never received, perform ing unnecessary procedures, falsifying documents to perform more procedures, and even accepting money for patient referrals, among others. This signifies that some physicians are potentially physically harming their patients for their own financial benefit. Some providers, nevertheless, believe that they can â€Å"outsmart† the system and choose to overbill their elder patients. By overbilling their patients, it is harder for the government to keep track of that. However, with the Affordable Care Act, there have been new rules and regulations to avoid all types of fraud as much as possible. With the enactment of the Affordable Care Act, several organizations have begun bringing awareness to healthcare fraud and have fought to prevent it, some of which are the Health Care Fraud Prevention Partnership and Senior Medicare Patrols. Furthermore, the Affordable Care Act has taken many precautions to prevent fraud, such as using â€Å"fraud detection technology, enhancing provider screening and enrollment requirements, and having a greater oversight of private insurance abuses† (Centers for Medicare Medicaid Services, 2015). Private insurers typically â€Å"lose an [estimated] 1%-1.5% of their revenue to fraud alone† (Health Research

Things Fall Apart and Distinctive World Free Essays

The distinctive world in which the character abides by creates the distinctive voice. Each character is portrayed by their voice and actions. The characteristic of the distinctive world in which he or she inhabits shapes the character. We will write a custom essay sample on Things Fall Apart and Distinctive World or any similar topic only for you Order Now Good_______ Mr turner and fellow students; I have chosen the text â€Å"Things fall apart† by Chinua Achebe to relate to our class text â€Å"The life and crimes of Harry Lavender† by Marele Day. By doing so, I will convey through my perception, the various types and functions of a distinctive voice and how language affects interpretation and shapes the meaning of both the distinctive voice and world. In our class text â€Å"The life and crimes of Harry Lavender† Claudia Valentine, is a private detective of the 1960’s who symbolises women liberation. The deceiving facade of Sydney which she lives in portrays the values of corruption, addiction and crime. This distinctive world created depicts the distinctive voices of Claudia and Harry Lavender, the antagonist of this novel. While describing Harry’s power, domination and concealment over Sydney. Claudia decodes the mysteries and understands more about herself and the distinctive world she resides in. There are two distinctive voices, Claudia Valentine and Harry Lavender. Claudia valentine is shaped to be a strong character, who is not inhibited by traditions. Her independent nature and â€Å"hard bitten† experiences make her more observant and resourceful. However as we keep reading; we understand her insecurities and the subtle heart all women have. Harry Lavender the antagonist of this novel is a man of strong power who is metaphorically illustrated to be the heart, the veins, and the blood of Sydney. He is a man of corruption and crime, and a symbol of the calamitous facade of Sydney. Both voices are created by the world of Sydney or how the author has quoted â€Å"the sewage of Sydney†. Similarly, in the novel â€Å"Things fall apart† by Chinua Achebe; a world is created with the recurring theme beliefs and customs portrayed through contrasts between the Pagan and African cultures. The novel is about an African tribe’s man’s life set in the early 19th century around the time of colonisation in Nigeria. Since childhood he has embarked on a journey to become a successful man in his tribe as he had not been from a respected family by decent. The many differences clash when cultural imperialism takes place and Christianity is imposed. His arrogance and cultural disposition makes him want to take revenge but ends up in a situation of despair, ending his life in shame and misery. The distinctive voice of this novel is the character Okonkwo, the society he lives in reins his thoughts and actions. In an African tribe a man was considered successful by the masculinity, strength, brutality, polygamy; numerous numbers of wives, vengeance is justice and the suppression of â€Å"feminine† emotions such as compassion and love. Quoted in the text, â€Å"As a young man of eighteen he had brought honour to his village by throwing Amalinze the cat† by describing Okonkwo’s victory against Amalinze, the author illustrates that honour and fame is only valued through strength. From both the novels there may be a contrast of values, setting and beliefs however both use techniques to convey the world which characterises each distinctive voice. Marele Day distinguishes the voices in â€Å"The life and Crimes of Harry Lavender†. Claudia’s thoughts are in first person and her conversations are expressed in colloquial language, this engages the reader to become more personal with Claudia. However Harry’s voice is portrayed in a formal way, making the character more distant from the reader, expressing less commiseration. To express themes of the distinctive world, Marele uses truncated sentences. â€Å"Close by the bed was a bottle of Jack Daniels: empty. And an ash tray: full. †This quote conveys the addiction present in the distinctive world and Claudia. To express this on a whole the author uses the technique of subvert convention. At the beginning she has awaken next to a blonde which we believe to be a women. Her sardonic humour also indicate the stereotypical male role of a private eye, however we soon realise that she is a women, giving a new perception to the distinctive world created as being sexually liberated. Harry Lavender is portrayed to be the world himself. Through the use of imagery Marele Day characterises Harry Lavender to be the god of the deceiving facade of Sydney. â€Å"Up there is a postcard view of Sydney† this quote describes Sydney to be at his fingertips. The world Marele creates is a world of corruption, addiction, murder and mystery all of which is present in Harry’s character. Likewise in the novel â€Å"Things fall apart†, Culture is the distinctive world created. Okonkwo, strongly believes in his culture where importance is based on masculinity, strength, and revenge in disparity to the pagan culture where importance is given to profession, wealth and the law of justice. This contrast is a technique which the author uses to express both the distinctive worlds. Simple folk tales are used to express the culture further, giving us a more indepth explanation of Okonkwo’s distinctive world and character. Another technique which the author uses to portray the world is the detailed description of everyday life. An example is the way the author describes the preparation of Okonkwo’s food by his three wives. Overall techniques are strongly used to allow the reader to analyse the distinctive world and voice. Both texts â€Å"the life and crimes of Harry Lavender† and â€Å"things fall apart† demonstrate various types of distinctive voices which use language to shape the meaning of both the distinctive voice and world. Now we learn that distinctive voices not only serve the purpose of communication but create and represent the distinctive world itself. How to cite Things Fall Apart and Distinctive World, Papers

Battle of Saratoga free essay sample

Leading to the Battles of Bemires Heights and Freemans Farm, the Battle of Saratoga became known as a highly significant battle Of the American Revolution. These battles were a necessity to the victory of the Revolution for the Americans. The Battles of Bemires Heights and Freemans Farm were very necessary because they really helped out the Americans chances of winning more battles that would take place later. As General Burgeoned was leading his forces to Albany, he ran into the American forces at Bemires Heights (where they also fought after the battle of freemans farm).The American forces deed to do anything they could to get rid of as many British forces as possible. The Battles that took place had huge turning points for both side because the number of people that were killed and the amount of ammunition that was used affected later battles of the Revolution. In the Battle of Bemires Heights, Burgeoned had his army retreat northward for the town of Saratoga (silently in the night), having to leave the sick and injured behind, and the dead unburied.This proved how these battles affected the decisions of the fighting forces, some being sick and cruel, while others being intelligent and applicable. The Battle of Freemans Farm (taking place on September 19, 1777) was a very significant battle for the British and the Americans. The British were surprised at Bemires Heights, where the British suffered about 500 casualties while the Americans sustained about 280. The battle was taking place on Freemans Farm. Freeman was a Loyalist who had earlier left for Canada.After about three hours of battle, the Americans ran out of ammunition, making them have to retreat. The British then claimed victory at Freemans Farm. Freemans Farm was located on the west side bank of the Hudson River. It was right near Bemires Heights, making it easy for people to build fortifications in the woods and high outcroppings. It was located a few miles away from Burnooses destination of Albany. It was a perfect location for an army to fight and keep themselves in somewhat Of an alright sanctuary. During the Battle, both sides used different tactics and strategies.Burgeoned decided to go with a risky strategy of dividing his army into three columns, two towards Bemires Heights and one to follow the road that paralleled the Hudson. The American forces (led by Horopito Gates and Benedict Arnold) laced expert riflemen (led by Daniel Morgan) in charge of taking out the left flank of the British (led by Simon Frasier). This strategy worked well for the Americans, of course until they ran out of ammunition. The battle (of Freemans Farm) was officially ended when Burgeoned heard word from Sir Henry Clinton.Clinton was getting ready to leave New York City and come assist Burgeoned with the continuous battles. So, he told Burgeoned to hold back and wait for him to get there before he attacked the Americans again. Burgeoned gave up his plan for attack on September 20th, and told his troops to wait until reinforcements arrived. Following the Battle at Freemans Farm, was the Battle of Bemires Heights. Bemires Heights was another big marking point during the American Revolution, also having big turning points for each force.The Battle of Bemires Heights was the most significant battle of the Saratoga campaign because it was the battle that caused Burnooses surrender to the American forces. Bemires Heights was also located on the West bank of the Hudson River about 10 miles from Saratoga. The riverbanks went upward; forming bluffs about 100-300 feet high. Bemires Heights was also surrounded by woods, making it harder for the British forces to take out the Americans. Burgeoned led about 1,500 men to fight off the militia at Bemires Heights. The British suffered about 400 casualties while the Americans only reported about 1 50 casualties. This proved that American forces at times were stronger (or at least more intelligent) than the British. Multiple battle tactics and strategies were used and discussed at the Battle of Bemires Heights. General Horopito Gates and Benedict Arnold were debating whether or not they should keep their fortifications high in the outcroppings where they seemed more affective, or if they should set up fortifications down in the woods below the heights. Gates decided to keep his army where they were, infuriating Arnold, thus making Arnold be relieved from his position in the American army.Daniel Moorings groups of riflemen were dispatched under Gates orders. The British were badly outnumbered, but came back when high competent Simon Frasier came into play. Arnold, deceiving his orders, ordered a rifleman to take out Frasier. Frasier was badly wounded, taking the fighting spirit away from the British. The Battle was officially ended when Henry Clinton told Burgeoned that he was not likely to rescue the dying and losing British forces, leading Burgeoned o surrender to the American army on October 17, 1777.By the end of the Battle, Gates army was left standing with about soldiers. The Campaign of Saratoga was highly significant to the American Revolution because it really affected how the upcoming battles would turn Out (number of soldiers would be different and amount of ammunition). One thing the Battle of Saratoga did for the Revolution was change the American morale dramatically. It caused Horopito Gates to become a hero of the American Revolution. It also led to France stop helping with the American forces and clearing war on Britain, making things a little easier for the American forces. If the British had won the battle, then things could have been dramatically different. The British would have had more power and troops, making it harder for the American armies to keep up in later battles. Things could be very different now if the American army did not win the Battle of Saratoga. All in all, the Battle of Saratoga proved that disadvantaged and weaker American forces could overpower the stronger British forces. Horopito Gates led his army to annihilate Burnooses army at Bemires Heights, causing them to surrender.The Battle at Freemans Farm was also a huge turning point for the Americans, having total control over the best fortification spots at Bemires Heights. The significance to the Revolution is easily seen. Fifth British had the won the Campaign of Saratoga, then things would have been very different for the American forces. It could have even affected the absolute victor of the American Revolution. Just imagine what it would be like if we didnt win the Revolution and were still under British control. That is why we have to be grateful that Gates led his army to defeat the British in the Battle of Saratoga.