The Financial Crisis Of 2007 / 2008 Essay - 808 Words

The financial crisis of 2007/2008 had a negative impact on the UK economy, resulting in low growth and high level of unemployment while inflation constantly remained above the 2% target. In those extraordinary circumstances focus of monetary policy had to be on growth rather than reaching inflation target, resulting in gradual reduction of the Bank rate from 5.75% in middle of 2007 to its lowest level of 0.5% in the beginning of 2009 (BoE, 2014). Although, a low interest rate led to significant depreciation of sterling, a tightening policy at that time would be a major mistake, that could lead to deflation and depression, rather than recovery and inflation around target (Fisher, 2014). Despite any effort pursued by monetary policy there was not only sign of the economic recovery. Moreover, the conditions deteriorated, with negative GDP figure, high level of unemployment and inflation rate remained above the target the economy was in recession. The conventional measures used by the MP C to stimulate economic growth proved to be inefficient, and the risk to fall into triple-dip recession remained. In order to provide additional stimulus into economy, the Bank had to make a decision on implementing unconventional measures. In January 2009, the Bank set up an Asset Purchase Facility to buy high-quality assets with the aim to improve liquidity and credit condition. The MPC purchased  £200 billion of financial assets during period between March and November 2009. Although GDP figureShow MoreRelatedThe Financial Crisis Of 2007-20081389 Words   |  6 PagesOne of the most devastating aspects of the financial crisis of 2007-2008 to middle-class America was the crash of the housing market. Millions of Americans were affected and faced foreclosures on homes that were purchased with subprime mortgages. The impact of these mortgages varied state to state. Nevada, one of the countries leading tourist destinations, led the market in foreclosure rates and housing appraisal drops. The government s false sense of security in regards to the economy and theRead More2007-2008 Financial Crisis1327 Words   |  6 PagesThe Global Financial Crisis of 2007-2008 The Global Financial Crisis 2007-2008 Economists and scholars spend years dissecting financial markets and evaluating the causes of booms and busts. Throughout United States history there have been multiple economic booms that were underestimated and followed by recessions. In the situation of the 2007-2008 global financial crisis many culprits have been identified as causes, such as loose monetary policy, credit booms, deregulation, over complexity,Read MoreThe Financial Crisis Of 2007-2008994 Words   |  4 Pages The subprime financial crisis of 2007-2008 was brought on by much more than unethical traders. It consisted of multiple variables: the deterioration in financial institutions’ balance sheets, asset price decline, increase in interest rates, and an increase in market ambiguity. This in turn led to the worsening of the adverse selection and moral hazard situation in the market, which led to a decline in economic activity, bringing forth the banking crisis. After the banking crisis, an unanticipatedRead MoreThe Financial Crisis Of 2007-20081419 Words   |  6 Pagesthe recent credit crunch. The financial crisis of 2007–2008, also known as the Global Financial Crisis and 2008 financial crisis, is considered by some economists such as Nouriel Roubini, professor of economics and international business at New York University, Kenneth Rogoff, professor of economics and public policy at Harvard University, and Nariman Behravesh, chief economist and executive vice president for IHS Global Insight, to have been the worst financial crisis since the Great Depression ofRead MoreThe Financial Crisis of 2007-2008541 Words   |  2 PagesThe financial crisis of 2007-2008 had more sounding effects on financial institutions even greater than the crisis brought about by the stocks downfall in the 1990’s. The reason for this is that the financial institutions were at the centre of the whole crisis. And financial institutions being one of the key pillars in a country’s economy, the crisis was bound to have a big effect in US as a whole. So, in order to understand wha t rely happened, it is wise to go through the paper written by NicholasRead MoreThe Financial Crisis Of 2007-2008928 Words   |  4 PagesDefine: Introduction The Financial Crisis of 2007-2008 was considered to be the worst financial crisis since the Great Depression in the decade preceding World War II. The Global Financial Crisis threatened large range of the financial organizations. Although the central banks and other banks were trying to keep away from the crisis, the stock market still suffered a huge decline internationally. Other than the global stock market, the house market was also influenced greatly, causing the unemploymentRead MoreThe Financial Crisis Of 2007 / 20081914 Words   |  8 PagesThe financial crisis of 2007/2008 had a negative impact on the UK economy, resulting in low growth and high level of unemployment while inflation constantly remained above the 2% target. In those extraordinary circumstances focus of monetary policy had to be on growth rather than reaching inflation target, resulting in gradual reduction of the Bank rate from 5.75% in middle of 2007 to its lowest level of 0.5% in the beginning of 2009 (BoE , 2014). Although, a low interest rate led to significant depreciationRead MoreThe Financial Crisis Of 2007-2008 Essay2367 Words   |  10 PagesWhen discussing the financial crisis of 2007-2008, it is incredibly important to discuss the relevance of the government bailout and organized sale of Bear Stearns. There is a large amount of discussion behind whether or not Bear Stearns, a large investment based financial institution, should have been bailed out by the US government. The decision to bail out and have a government-orchestrated sale of Bear Stearns was an incredibly complicated situation to discuss and there are parts of which cannotRead MoreThe Global Financial Crisis Of 2007-20081123 Words   |  5 PagesThe Global Financial Crisis of 2007-2008 is the worst financial crisis since the 1930’s The Great Depression (Reuters, 2009). Even if bailouts of banks by national governments prevented the collapse of major financial institutions, worldwide stock markets continue d to drop. Evictions and foreclosures overwhelmed the housing market while severed unemployment embraced the labor market (Baily and Elliot, 2009). This global financial crisis was responsible for the decline in the consumers’ wealth, andRead MoreEffects Of The Financial Crisis Of 2007-20081763 Words   |  8 PagesFinancial crisis of 2007-2008 is widely considered to be the worst financial crisis since the Great Depression of 1930s. The origin of this big storm dated back to the high home prices of the United States. After America’s entire investment banking system was attacked, many industries such as auto industry also went bankrupt. Unfortunately, it spread quickly to the whole world, causing huge damages to the global economy. Therefore, my study will focus on the effects of the financial crisis of 2007-2008

Terrorism An Imperative For Economic, Political And...

TERRORISM IN AFRICA; an Imperative for Economic, Political and Military Solutions. The bombings of the United States embassies in Tanzania and Kenya were marked indicators that Africa based terrorist groups were increasing threats to the interests of democratic societies in Africa those of all freedom loving societies the world over. Our policy makers have for long treated the Middle East and Asia as the main battlegrounds in the war on terror. Those regions have been joined by Africa in the aftermath of the Arab revolution which gave rise to regional instability. Could demographic, economic and/or religious forces be fuelling the growth of terrorism in Africa, particularly Nigeria? I would show that the current preferred†¦show more content†¦These groups include the pseudo-Christian ‘Lord’s Resistance Army’ in Uganda, the extremist Islamic ‘Boko Haram’ in Nigeria whose most prominent attacks involved the use of a car bomb to demolish a UN co mpound in 2011 and the kidnapping of hundreds of school girls from a school in northern Nigeria. In the ensuing period the group has killed hundreds of other Nigerians including security personnel as it attempts to impose Sharia law in the mainly Muslim northern part of Nigeria. In Somalia, there is the al-Shabaab militia which has carried out suicide bombings throughout the capital city of Mogadishu and in neighboring countries like Kenya and Uganda. There are the Islamist groups in Mali mostly composed of factions of al Qaeda in the Islamic Maghreb (AQIM). AQIM conquered and governed a broad swath of northern Mali which it used as a base to plot attacks outside of the country’s border including the attack on the U.S. consulate in Benghazi, Libya and on the natural-gas facility in Algeria. Africans have been involved in terror plots in the continental United States an example of which is the militant who tried to bring down a Northwest Airlines flight on Christmas Day in 20 09. The scourge of religion based terrorism in Africa has some common threads running through the affected geographic areas. In Nigeria, which is split between a mainly Muslim North and a Christian and

The works and life of Archimedes Free Essays

The Great Mechantc Not much is known about Archimede’s life. He was born in Syracuse on the eastern coast of Sicily. His father was an astronomer named Feidias. We will write a custom essay sample on The works and life of Archimedes or any similar topic only for you Order Now His family was probably quite prosperous, despite many contrary beliefs and opinions,as he was accompanied by servants wherever he went and also travelled, which at that time was very costly. Unlike different spiritual men of his time,he did not travel to other countries, except one, and that the city of Alexandria in Egypt, where at the famous nstitution,Musaeum of Alexandria,he consorted with famous scientists like Conon the Samian,Dositheos,Eratosthenes of Cyrene and others with whom he kept regular contact with,by sending his work to them and asking for their opinion before it was published. The exact time of his stay in Alexandria can only be approximately identified,and that between 250-240 bc. During his stay he made a remarkable discovery:he invented the screw,a pumping machine,whose practical spread was so great that it was used throughout the known world,and is still used today for pumping liquids and other fossil elements . Basically Archimedes’s machine was a helical serface around an axis inside a tube. By rotation of the shaft this incredible invention could transfer water from a lower to a higher point. The first recorded use of such an object is in a text by Athenaeus of Naucratis,where he describes of an enormous ship that was designed by Archias of Corinth for the tyrant of Siracuse, Hiero ll. Since this was one of the biggest ships in its time it would be inevitable that it would take on water. Therefore, Archimedes’s screw was used to pump the water back into the sea. It is unclear whether or not Archimedes designed this pump for the use on the hip but it is widely thought that the great mathematician invented such a tool to help Egyptians maneuver water from lower land to higher for watering the fields. This invention has survived the winds of time and is still used today,most recently applyed at draining parts of land in the Netherlands that were underwater and also for stableizing the tower of Pisa in 2001. According to information from Arab sources noted by A. Favaro, Archimedes probably made another trip to Egypt, during which he designed and executed several projects on water management of the river Nile, projects which are reported by Arab uthors. Beyond these signs though,essentially we know that Archimedes travelled to Alexandria only once and no other time, since, according to all sources the greatest part of his life he spent in his hometown of Syracuse, where he came up with all his theoretical or mechanical discoveries. On the return to his homeland Archimedes made another very important discovery. Hiero wanted a golden crown to be made for him so he asked a goldsmith and gave him 772 grams of gold with a mandate to fulfill his wish. And so, the wasnt produced from Just gold but had another material inside. This is when Hiero,called Archimedes and asked him to examine the crown without deforming it and find out whether or not gold was the only element that assembled the crown. Archimedes tried for a long time, to solve the problem. Then finaly one day when he was bathing,probably in a barel,he realised the displacement of water when he entered the bath. ,That is when he realised this was directly proportional to the problem of the authenticity of the gold crown, Vitruvius states that Archimedes Jumped out of his bath and ran out shouting : â€Å"Eureka , eureka , † Basically,what is now known today as Archimedes’s Principle,states that the olume of displaced fluid is equal to the volume of the submerged object. ln more general terms an two objects with the same volume and same mass have different density between each other. Archimedes carried out his experiment by getting a scale and putting the crown on one end and the equivelent of gold on the other. Then when submerged in water if the crown is made of Just gold the scale would balance if not it would tip more towards either side. One of Archimedes’s more controversal discoveries is the harnis of sunlight into a heat ray using a solar mirror. Legend has it that that when Siracuse was under siege y the Romans the structure was used to burn the Romans ships. The solar mirror , was in fact not one mirror but many mirrors together,in which solar energy was accumulated and then converted into very high heat and when directed to a target,it would cause it to catch fire . Although there were historical references to the mechanism ,made by Plutarch , Lucian , Galen , Efstathios and evidence for the use of this weapon in one of the sieges of Constantinople, the existence of this mechanism was questioned by many, with Ren © Descartes being one of them and because of that,was regarded a myth . The fact that Archimedes had indeed discovered the properties of mirrors is demonstrated by a book by German professor Hop â€Å"History of Physics which states that in 1492 in Venice , the Greek professor George Vallas had in his library a book by Archimedes called ‘Mirror’ , but later lost. So, if Archimedes didn’t know enough information about mirrors and was not sure about putting them into practice , why would he write a whole book about it? Later researchers tried to make the experiment, using materials known in the time of Archimedes , but failed or succeeded partially. How to cite The works and life of Archimedes, Essays