Why the next decade will shape the century!adusault
A position paper on the forces converging into the next decade, which will create more volatility. We constantly underestimate changes and resist new conditions.
NBC provided timely reporting on the economic crisis and housing bubble but failed to adequately educate their mass audience. While laying out relevant information, NBC did not provide sufficient context or explanation. They briefly touched on important issues without delving deeper. As a result, NBC reporting skimmed the surface and did not consistently help the audience understand how to respond to the evolving situation. To improve, NBC should provide more background, focus on prevention, and make their news content more accessible and educational.
NBC provided regular updates on the economic crisis and housing bubble but often failed to provide sufficient context and analysis. They gave statistics and laid out information but did not fully explain the causes or consequences of events. While keeping audiences informed of the latest developments, NBC could have improved by giving more background, making the issues easier to understand, and providing clearer guidance on what actions viewers could take in response.
NBC provided regular updates on the economic crisis and housing bubble but often failed to provide sufficient context and analysis. They gave statistics and laid out information but did not fully explain the causes or consequences of events. While keeping audiences informed of the latest developments, NBC could have improved by giving more background, making the issues easier to understand, and providing clearer guidance on what actions viewers could take in response.
This document provides an overview of how NBC covered the economic crisis from 2001 to 2010 in three stages:
1) The early stages in 2001 saw the first signs of a slowing economy but NBC did not fully explain the causes. Coverage increased in 2002 when experts warned of a housing bubble.
2) During the crisis from 2007-2009, NBC coverage was initially limited but increased in late 2007 when the effects spread beyond housing. However, segments remained brief and focused more on the election than economic impacts.
3) After the crisis in 2010, NBC reported that experts felt Obama's housing programs were overwhelmed and more needed to be done, while supporters said progress was being made towards targets.
NBC provided timely reporting on the economic crisis and housing bubble but failed to adequately educate their mass audience. While laying out relevant information and statistics, NBC did not provide sufficient context or explanation. They also did not clearly inform citizens on how to protect themselves from the issues affecting the economy and housing market. To improve, NBC should provide more in-depth background on topics, directly address prevention, and make their news content more easily accessible online.
This document calls citizens to action against large banks and corporations. It argues that banks like Bank of America and JPMorgan Chase pay no income taxes, while the middle class loses wealth and opportunities. Unemployment and foreclosures are high. It claims the financial system is rigged in favor of the wealthy, and special interests control Washington at the expense of average Americans. The document urges monetary reform, arguing that governments should control currency issuance rather than private banks, and that fractional reserve banking allows excessive money creation. It asserts major historical figures warned of the dangers of private banking control over economies.
This document provides a summary of the economic crisis that began in 2007. It discusses how the increasing integration of global markets led to growth but also vulnerability. The crisis that started in 2007 was more than a recession, as the housing market collapse in the US continued through 2009, exacerbating problems of high household debt levels. Government and central bank efforts to inject liquidity and spend on stimulus programs struggled to stop the economic downward spiral. Major banks remained fundamentally insolvent despite government capital injections, and credit creation broke down. By the end of 2008, the US government had committed over $7 trillion to bailouts, and deficits were rapidly rising.
Why the next decade will shape the century!adusault
A position paper on the forces converging into the next decade, which will create more volatility. We constantly underestimate changes and resist new conditions.
NBC provided timely reporting on the economic crisis and housing bubble but failed to adequately educate their mass audience. While laying out relevant information, NBC did not provide sufficient context or explanation. They briefly touched on important issues without delving deeper. As a result, NBC reporting skimmed the surface and did not consistently help the audience understand how to respond to the evolving situation. To improve, NBC should provide more background, focus on prevention, and make their news content more accessible and educational.
NBC provided regular updates on the economic crisis and housing bubble but often failed to provide sufficient context and analysis. They gave statistics and laid out information but did not fully explain the causes or consequences of events. While keeping audiences informed of the latest developments, NBC could have improved by giving more background, making the issues easier to understand, and providing clearer guidance on what actions viewers could take in response.
NBC provided regular updates on the economic crisis and housing bubble but often failed to provide sufficient context and analysis. They gave statistics and laid out information but did not fully explain the causes or consequences of events. While keeping audiences informed of the latest developments, NBC could have improved by giving more background, making the issues easier to understand, and providing clearer guidance on what actions viewers could take in response.
This document provides an overview of how NBC covered the economic crisis from 2001 to 2010 in three stages:
1) The early stages in 2001 saw the first signs of a slowing economy but NBC did not fully explain the causes. Coverage increased in 2002 when experts warned of a housing bubble.
2) During the crisis from 2007-2009, NBC coverage was initially limited but increased in late 2007 when the effects spread beyond housing. However, segments remained brief and focused more on the election than economic impacts.
3) After the crisis in 2010, NBC reported that experts felt Obama's housing programs were overwhelmed and more needed to be done, while supporters said progress was being made towards targets.
NBC provided timely reporting on the economic crisis and housing bubble but failed to adequately educate their mass audience. While laying out relevant information and statistics, NBC did not provide sufficient context or explanation. They also did not clearly inform citizens on how to protect themselves from the issues affecting the economy and housing market. To improve, NBC should provide more in-depth background on topics, directly address prevention, and make their news content more easily accessible online.
This document calls citizens to action against large banks and corporations. It argues that banks like Bank of America and JPMorgan Chase pay no income taxes, while the middle class loses wealth and opportunities. Unemployment and foreclosures are high. It claims the financial system is rigged in favor of the wealthy, and special interests control Washington at the expense of average Americans. The document urges monetary reform, arguing that governments should control currency issuance rather than private banks, and that fractional reserve banking allows excessive money creation. It asserts major historical figures warned of the dangers of private banking control over economies.
This document provides a summary of the economic crisis that began in 2007. It discusses how the increasing integration of global markets led to growth but also vulnerability. The crisis that started in 2007 was more than a recession, as the housing market collapse in the US continued through 2009, exacerbating problems of high household debt levels. Government and central bank efforts to inject liquidity and spend on stimulus programs struggled to stop the economic downward spiral. Major banks remained fundamentally insolvent despite government capital injections, and credit creation broke down. By the end of 2008, the US government had committed over $7 trillion to bailouts, and deficits were rapidly rising.
This document provides an introduction and analysis of the 2008 global financial crisis from an Islamic economic perspective. It summarizes that the crisis marked the beginning of the end of global capitalism due to the failure of its key principles around interest-based banking, fiat currency, and unregulated financial markets. The author argues that Islam provides a viable alternative economic model with principles like gold/silver-backed currency, interest-free lending, and clear rules around trade and public/private ownership that could bring greater stability and fairness. The crisis is seen as an opportunity for the Muslim world to establish this Islamic system as an alternative to the inevitable boom-bust cycles of capitalism.
A lecture delivered in 2010/11. Why the economy will collapse is a warning to all investors who speculate on stocks and shares, and other forms of speculation. It is far better to invest directly into CASH & PROFITS.
This document contains the "Manifesto of Thrift" which outlines the threats posed by unchecked global capitalism and consumerism. It argues that the global corporate capitalist economy (GCCE) prioritizes profits and economic growth over environmental and social stability. By outsourcing jobs and flooding markets with cheap imports, the GCCE undermines economic security for workers. However, the manifesto asserts that thrift and voluntary reduced consumption represent a threat to the unsustainable business model of the GCCE. If adopted widely, thrift could empower workers and communities while checking the dominance of multinational corporations.
The document discusses the causes and lessons of the global economic recession. It argues that the recession was not simply due to inadequate demand but also distorted supply, as economies lost the ability to grow through making useful things. Governments and households borrowed excessively to prop up growth. Rather than trying to return to unsustainable pre-crisis GDP levels through more borrowing and spending, governments need to address underlying economic flaws through policies like retraining workers, encouraging innovation, and making labor markets more competitive. Easy credit masked deeper problems, and debt-fueled growth proved unsustainable.
Current secular bearmarket is not over history should beour guide.Ziad K Abdelnour
Secular bear markets refer to economic conditions where stocks, real estate, commodities and the general economy are extremely volatile with a downward bias.
The document summarizes the financial crisis of 2008 and its aftermath. It discusses how excess leverage and easy credit led to the crisis. It then describes the massive fiscal and monetary responses by governments to counter the recession. Finally, it outlines a new investment strategy focused on bonds, hedging risks, and adapting to long-term volatility in a more regulated post-crisis economic environment.
The document discusses the housing bubble and its causes. It argues that loose monetary policy and government policies promoting homeownership led to a misallocation of resources and artificial inflation of housing prices. This created a bubble that has now burst, leading to an economic recession. In the long run, there is a concern that the government failures that caused the crisis will not be admitted and more power will be given to the same mechanisms that caused the problems.
The Next Economy Government Market Outlook 2010 FinalYang Liu
This document provides an executive summary and outlook on the US government marketplace in 2010. Some key points:
1) Government spending now represents almost half of total US GDP and is expected to increase further in coming years, making the government sector a vast and growing marketplace.
2) Major initiatives like the American Recovery and Reinvestment Act and Jobs for Main Street Act will drive continued government spending through 2010 to boost the economy.
3) Emerging trends include greater transparency in government spending, increased competition for contracts as commercial markets recover, and information technology being a key part of infrastructure projects across sectors.
This paper is a summary of press clippings gleaned from Internet during the period April to July 2008. This exercise was performed to provide a quick summary of the US credit crisis at that particular point in time / 2nd quarter 2008. The paper was presented to a non native English speaking European audience consisting primarily of insolvency judges July 3rd 2008 in Paris.
While our nation faces serious issues right now, there are compelling reasons to consider investing today.
As the nation recovers from the Great Recession, something’s happening that should give investors hope.
This document discusses the large amounts of money governments and central banks are committing to combat the economic effects of the COVID-19 pandemic. It outlines the goals of job retention schemes in developed countries and direct cash payments in emerging markets. While commitments total trillions of dollars globally, a relatively small portion has gone to healthcare compared to propping up large corporations and expanding government deficits, which will likely require higher future taxes or borrowing costs. The long-term consequences of taking on huge debt to address today's crisis are only beginning to be understood.
This presentation on privatization and TIFs was given to Theresa Amato's public interest law class at the Loyola Law School. The audio is 47 minutes long. If you'd like a copy, please email tom@civiclab.us.
Tom Tresser presented at a forum of privatization and the Chicago Infrastructure Trust at SEIU's Chicago HQ on Saturday, June 23, 2012. Visit http://www.civiclab.us. Contact Tom = tom@civiclab.us
The document discusses trends in the global economy including currency devaluation, inflation, and rising commodity prices. It recommends investment strategies focused on US dollars, energy and metal companies, municipal bonds, and mutual funds invested in dividend-paying international companies. Inflation will redistribute wealth from lenders and those with cash to debtors and those with hard assets. Developing countries' economies and commodity demand will grow as wealth shifts globally.
The document discusses issues with the global financial system and the need for reform. It describes how the financial sector has become disconnected from the real economy and increasingly unstable, leading to repeated crises that harm ordinary people. While governments bailed out banks after the 2008 crisis, real reforms were not enacted. As a result, the same problems remain and future crises may be on the horizon unless action is taken to address the power imbalance between the financial sector and society.
The document discusses how the economic crisis has changed everything and how understanding historical context is important. It summarizes that economic growth has been fueled by cheap fossil fuels but that growth cannot continue indefinitely as energy supplies become constrained. It outlines strategies for building resilient communities that can better withstand economic and energy challenges.
This document presents four multi-trillion dollar paths to a thriving America based on the book "America is Not Broke". The four paths are: 1) Sovereign Money, which argues the government should create debt-free money; 2) Land Value Taxation, which advocates taxing the value of land; 3) Public Banking; and 4) Ending Government Financial Asset Hoarding. The document focuses on explaining Sovereign Money and Land Value Taxation in more detail. It argues that governments could fund public services through collecting $5.3 trillion in economic rent from land rather than through other taxes.
With characteristic perceptiveness, Winston Churchill observed many decades ago: “Dictators ride to and fro on a tiger from which they dare not dismount. And the tiger is getting hungry.”
With China, the tiger in question is very big and very hungry. Per capita income in the PRC is just $11,000 per person, compared to $43,000 in the UK and $65,000 in the US. Stop and consider that statistic for a minute. Imagine that your income was multiplied by a factor of four, or five. Imagine how different your life would look. That’s how the average Chinese worker would regard the disparity between their income and yours.
This puts China smack bang in the centre of the “middle-income trap” - where a growing economy gets stuck, and often fails altogether, to make the transition to a high-income economy. The first part of the journey, from low-income to middle-income, is relatively simple.
You just need strong government oversight, an almost endless stream of obedient and extremely cheap labour, and a world market hungry for products that can be manufactured on a vast scale in labour-intensive industries.
But to take your economy over the next hurdle, from middle income to high income, is far more challenging. It requires a movement away from basic, assembly-line tasks and a leap into the knowledge economy, innovation, and high-tech, high-skill manufacturing.
In other words, it is a movement away from mass-volume industries where the greatest differentiator is price, and into value-added industries where customers are willing to pay a premium for the technology, the prestige, or the originality of the goods
Visual content such as images, videos, and infographics gets significantly more engagement across social media and online articles than text-only content. Posts and articles with visuals see up to 150% more clicks, likes, comments, and views compared to those without visuals. Providing journalists with visual content to accompany press releases can increase coverage by up to 77% by giving them compelling materials to share with their audience.
The document provides an overview of key concepts in American government including:
1) It discusses different forms of government such as democracy, republic, and direct democracy. It notes that the US is a democratic republic where citizens elect representatives rather than voting directly on policies.
2) Fundamental values in the US political system are discussed like liberty, equality, and debates around the role and size of government.
3) Different political ideologies are outlined including liberalism, conservatism, and tensions between order and liberty.
4) Demographic changes in the US are summarized such as immigration trends, religious diversity, and an aging population.
The document is a reflection by a student on their project exploring the principles of design in everyday kitchen objects. The student wanted to highlight the aesthetic elements in routine cooking tasks. They discuss how Japanese culture during the Edo period appreciated the art in mundane objects. While gender roles have changed little, technology has made cooking easier. The student finds baking rewarding and sees artistic styles in tools. They provide examples applying design principles like line, shape and emphasis to images of kitchen items and food.
This document provides an introduction and analysis of the 2008 global financial crisis from an Islamic economic perspective. It summarizes that the crisis marked the beginning of the end of global capitalism due to the failure of its key principles around interest-based banking, fiat currency, and unregulated financial markets. The author argues that Islam provides a viable alternative economic model with principles like gold/silver-backed currency, interest-free lending, and clear rules around trade and public/private ownership that could bring greater stability and fairness. The crisis is seen as an opportunity for the Muslim world to establish this Islamic system as an alternative to the inevitable boom-bust cycles of capitalism.
A lecture delivered in 2010/11. Why the economy will collapse is a warning to all investors who speculate on stocks and shares, and other forms of speculation. It is far better to invest directly into CASH & PROFITS.
This document contains the "Manifesto of Thrift" which outlines the threats posed by unchecked global capitalism and consumerism. It argues that the global corporate capitalist economy (GCCE) prioritizes profits and economic growth over environmental and social stability. By outsourcing jobs and flooding markets with cheap imports, the GCCE undermines economic security for workers. However, the manifesto asserts that thrift and voluntary reduced consumption represent a threat to the unsustainable business model of the GCCE. If adopted widely, thrift could empower workers and communities while checking the dominance of multinational corporations.
The document discusses the causes and lessons of the global economic recession. It argues that the recession was not simply due to inadequate demand but also distorted supply, as economies lost the ability to grow through making useful things. Governments and households borrowed excessively to prop up growth. Rather than trying to return to unsustainable pre-crisis GDP levels through more borrowing and spending, governments need to address underlying economic flaws through policies like retraining workers, encouraging innovation, and making labor markets more competitive. Easy credit masked deeper problems, and debt-fueled growth proved unsustainable.
Current secular bearmarket is not over history should beour guide.Ziad K Abdelnour
Secular bear markets refer to economic conditions where stocks, real estate, commodities and the general economy are extremely volatile with a downward bias.
The document summarizes the financial crisis of 2008 and its aftermath. It discusses how excess leverage and easy credit led to the crisis. It then describes the massive fiscal and monetary responses by governments to counter the recession. Finally, it outlines a new investment strategy focused on bonds, hedging risks, and adapting to long-term volatility in a more regulated post-crisis economic environment.
The document discusses the housing bubble and its causes. It argues that loose monetary policy and government policies promoting homeownership led to a misallocation of resources and artificial inflation of housing prices. This created a bubble that has now burst, leading to an economic recession. In the long run, there is a concern that the government failures that caused the crisis will not be admitted and more power will be given to the same mechanisms that caused the problems.
The Next Economy Government Market Outlook 2010 FinalYang Liu
This document provides an executive summary and outlook on the US government marketplace in 2010. Some key points:
1) Government spending now represents almost half of total US GDP and is expected to increase further in coming years, making the government sector a vast and growing marketplace.
2) Major initiatives like the American Recovery and Reinvestment Act and Jobs for Main Street Act will drive continued government spending through 2010 to boost the economy.
3) Emerging trends include greater transparency in government spending, increased competition for contracts as commercial markets recover, and information technology being a key part of infrastructure projects across sectors.
This paper is a summary of press clippings gleaned from Internet during the period April to July 2008. This exercise was performed to provide a quick summary of the US credit crisis at that particular point in time / 2nd quarter 2008. The paper was presented to a non native English speaking European audience consisting primarily of insolvency judges July 3rd 2008 in Paris.
While our nation faces serious issues right now, there are compelling reasons to consider investing today.
As the nation recovers from the Great Recession, something’s happening that should give investors hope.
This document discusses the large amounts of money governments and central banks are committing to combat the economic effects of the COVID-19 pandemic. It outlines the goals of job retention schemes in developed countries and direct cash payments in emerging markets. While commitments total trillions of dollars globally, a relatively small portion has gone to healthcare compared to propping up large corporations and expanding government deficits, which will likely require higher future taxes or borrowing costs. The long-term consequences of taking on huge debt to address today's crisis are only beginning to be understood.
This presentation on privatization and TIFs was given to Theresa Amato's public interest law class at the Loyola Law School. The audio is 47 minutes long. If you'd like a copy, please email tom@civiclab.us.
Tom Tresser presented at a forum of privatization and the Chicago Infrastructure Trust at SEIU's Chicago HQ on Saturday, June 23, 2012. Visit http://www.civiclab.us. Contact Tom = tom@civiclab.us
The document discusses trends in the global economy including currency devaluation, inflation, and rising commodity prices. It recommends investment strategies focused on US dollars, energy and metal companies, municipal bonds, and mutual funds invested in dividend-paying international companies. Inflation will redistribute wealth from lenders and those with cash to debtors and those with hard assets. Developing countries' economies and commodity demand will grow as wealth shifts globally.
The document discusses issues with the global financial system and the need for reform. It describes how the financial sector has become disconnected from the real economy and increasingly unstable, leading to repeated crises that harm ordinary people. While governments bailed out banks after the 2008 crisis, real reforms were not enacted. As a result, the same problems remain and future crises may be on the horizon unless action is taken to address the power imbalance between the financial sector and society.
The document discusses how the economic crisis has changed everything and how understanding historical context is important. It summarizes that economic growth has been fueled by cheap fossil fuels but that growth cannot continue indefinitely as energy supplies become constrained. It outlines strategies for building resilient communities that can better withstand economic and energy challenges.
This document presents four multi-trillion dollar paths to a thriving America based on the book "America is Not Broke". The four paths are: 1) Sovereign Money, which argues the government should create debt-free money; 2) Land Value Taxation, which advocates taxing the value of land; 3) Public Banking; and 4) Ending Government Financial Asset Hoarding. The document focuses on explaining Sovereign Money and Land Value Taxation in more detail. It argues that governments could fund public services through collecting $5.3 trillion in economic rent from land rather than through other taxes.
With characteristic perceptiveness, Winston Churchill observed many decades ago: “Dictators ride to and fro on a tiger from which they dare not dismount. And the tiger is getting hungry.”
With China, the tiger in question is very big and very hungry. Per capita income in the PRC is just $11,000 per person, compared to $43,000 in the UK and $65,000 in the US. Stop and consider that statistic for a minute. Imagine that your income was multiplied by a factor of four, or five. Imagine how different your life would look. That’s how the average Chinese worker would regard the disparity between their income and yours.
This puts China smack bang in the centre of the “middle-income trap” - where a growing economy gets stuck, and often fails altogether, to make the transition to a high-income economy. The first part of the journey, from low-income to middle-income, is relatively simple.
You just need strong government oversight, an almost endless stream of obedient and extremely cheap labour, and a world market hungry for products that can be manufactured on a vast scale in labour-intensive industries.
But to take your economy over the next hurdle, from middle income to high income, is far more challenging. It requires a movement away from basic, assembly-line tasks and a leap into the knowledge economy, innovation, and high-tech, high-skill manufacturing.
In other words, it is a movement away from mass-volume industries where the greatest differentiator is price, and into value-added industries where customers are willing to pay a premium for the technology, the prestige, or the originality of the goods
Visual content such as images, videos, and infographics gets significantly more engagement across social media and online articles than text-only content. Posts and articles with visuals see up to 150% more clicks, likes, comments, and views compared to those without visuals. Providing journalists with visual content to accompany press releases can increase coverage by up to 77% by giving them compelling materials to share with their audience.
The document provides an overview of key concepts in American government including:
1) It discusses different forms of government such as democracy, republic, and direct democracy. It notes that the US is a democratic republic where citizens elect representatives rather than voting directly on policies.
2) Fundamental values in the US political system are discussed like liberty, equality, and debates around the role and size of government.
3) Different political ideologies are outlined including liberalism, conservatism, and tensions between order and liberty.
4) Demographic changes in the US are summarized such as immigration trends, religious diversity, and an aging population.
The document is a reflection by a student on their project exploring the principles of design in everyday kitchen objects. The student wanted to highlight the aesthetic elements in routine cooking tasks. They discuss how Japanese culture during the Edo period appreciated the art in mundane objects. While gender roles have changed little, technology has made cooking easier. The student finds baking rewarding and sees artistic styles in tools. They provide examples applying design principles like line, shape and emphasis to images of kitchen items and food.
The document discusses exploring the concept of systematically differentiating between dark and light leaders by examining whether a criminal personality profile is possible. It summarizes research on criminal profiling and syndromes associated with criminal behavior. The document proposes analyzing case studies of dark and light leaders using assessment tools to determine if there are patterns suggesting systematic personality differences between the two groups. Specifically, it will use adapted versions of Hare's Psychopathy Checklist, DSM-IV criteria for antisocial personality disorder, and an emotional intelligence scale to rate leaders and identify psychopathic traits or a lack of emotional intelligence.
Medical information, administration, marketing and salesstjulians school
This document provides information on medical advice, e-prescriptions, and the benefits of electronic prescriptions. It lists websites and apps for getting medical advice online as well as websites demonstrating how e-prescriptions work and their advantages over traditional paper prescriptions, such as being fast, legible, and allowing access to patients' medical histories.
The document proposes a software architecture that uses a Grid computing environment to realize a Content Distribution Network for multimedia content. The architecture exploits Grid resources not only for storage but also for on-the-fly transcoding of multimedia files into formats supported by clients. It describes components that select the nearest storage element to the client and a computing element with sufficient resources to perform transcoding when needed, aiming to minimize latency and maximize quality of service for the user.
Where We Are Today – The Current Landscape of Identity ManagementDuane Blackburn
This document summarizes a presentation by Duane Blackburn from MITRE Corporation on the current landscape of identity management. Some common themes from Blackburn's research and discussions with stakeholders are: the importance of identity management for collaboration and trust but challenges in managing identities across interconnected systems; the need for improved technologies, standards, privacy protections and governance; and that despite progress, governments still lack comprehensive identity management strategies. Blackburn also provided conceptual models of identity management and discussed depictions in Hollywood.
The document discusses blending digital learning in teacher education programs. It begins with definitions of blended learning as a combination of face-to-face and online instruction. It then discusses trends in K-12 classrooms like increased mobile learning and digital tools. National surveys on technology use in classrooms are reviewed. The presentation advocates for incorporating 21st century skills like collaboration, communication and critical thinking into teacher education programs and provides examples of best practices and frameworks to support educators in blended learning.
Xchangeteam is a market-leading recruitment consultancy formed through the combination of three consultancies specializing in PR/communications, events, editorial, marketing, public affairs, design, advertising, and media. They have a team approach and extensive database to source the best permanent and freelance candidates across integrated marketing, technical media, digital media, creative, editorial, and media planning. Their team includes industry experts and experienced recruiters, and they uphold high standards of ethics, integrity, and candidate care.
Located in Florence, Italy, R.E.Portal is a real estate brokerage that specializes in high-end, historic properties. They deal in castles, villas, apartments, and other luxury real estate. The company aims to provide a personal approach to clients while maintaining confidentiality. Membership in the MyJewel Club provides direct access to property information and invitations to special events. Properties include castles, villas, apartments, wineries, and bed and breakfasts.
La palabra en la celebración: Evangelio dialogado...cristinamoreubi
El documento resume el evangelio del primer domingo de Adviento en el que Juan Bautista llama a la conversión y al cambio de vida ante la próxima llegada de Jesús. Juan Bautista predica en el desierto llamando a la gente a confesar sus pecados. Les advierte que deben dar frutos de conversión y no engañarse pensando que por ser hijos de Abraham están a salvo, sino que deben cambiar sus vidas.
Yolanda is a community helper who works as a police officer in the village of El Molar. She patrols the village, answers calls to help people, teaches safety rules in schools, and is in charge of traffic safety and control. The second graders of Nuestra Señora Del Remolino wrote her a thank you letter to show their appreciation for the important work she does in their community.
http://www.etwinning.net/en/pub/news/news/etwinning_20.htm
eTwinning 2.0: Building the community for schools in Europe provides you with a wealth of information, inspiration, guidelines and testimonies from teachers and experts on the possibilities that the eTwinning community for schools in Europe offers.
1. The document provides examples of solving exponential and logarithmic equations.
2. One example solves the equation log 4 (x + 3) = 2 and finds the solution is x = 13.
3. Another example solves the equation log 2 x + log 2 (x - 7) = 3 and finds the solutions are x = 8 or x = -1.
This document provides an overview of All Star Financial, an independent fee-only financial advisory firm. It discusses the firm's services, investment philosophy, and approach to managing client portfolios. Key points include:
1. All Star Financial provides personal and corporate financial planning, investment management, and tax services. They manage client assets using mutual funds, ETFs, stocks, and bonds.
2. The firm's investment approach focuses on reducing risk and volatility through strategic asset allocation and diversification. They emphasize keeping what you earn over maximizing returns.
3. Examples from past economic cycles and market downturns illustrate why diversification and staying the course are important strategies during volatile periods. Panicking and making
The document discusses several topics:
1. Potential investment strategies in light of currency devaluations and quantitative easing, including holding some cash, investing in MLPs, metals, municipal bonds, and mutual funds focused on dividend growers and emerging markets.
2. The impact of currency devaluations, including a transfer of wealth from lenders to debtors and those with cash to those with commodities.
3. Political and economic trends, such as declining standards of living in northern countries and growing wealth in southern countries.
Instructions1. On the top of the page, provide the article citat.docxnormanibarber20063
Instructions
1. On the top of the page, provide the article citation in current APA format.
On the next line down, type the topic of your articles: (Gross Domestic Product (GDP)
in all caps and bold format.
2. In a double-spaced document, briefly explain the author’s purpose for writing the article. One way to understand the author’s purpose is to ask yourself why he or she wrote it. (For example, consider current and future events, politics, or anything else that may have inspired the article.)
3. Summarize the article(The criminality of Wall Street), focusing on the discussion of the topic the article addresses. Incorporate relevant economic theory that is present so that discussion of the article content is clear.
Article: The Criminality of Wall Street
Tabb, William K. Monthly Review66.4 (Sep 2014): 13-22.
The current stage of capitalism is characterized by the increased power of finance capital. How to understand the economics of this shift and its political implications is now central for both the left and the larger society. There can be little doubt that a signature development of our time is the growth of finance and monopoly power.1
In 1980 the nominal value of global financial assets almost equaled global GDP. In 2005 they were more than three times global GDP.2 The nominal value of foreign exchange trading increased from eleven times the value of global trade in 1980 to seventy-three times in 2009.3 Of course it is not certain what this increase means, since such nominal values can fluctuate widely, as we saw in the Great Financial Crisis. They cannot be compared directly and without all sorts of qualifications to the value added in the real economy. But they do give an impressionistic sense of the enormous magnitude by which finance grew and came to dominate the economy. Between 1980 and 2007, derivative contracts of all kinds expanded from $1 trillion globally to $600 trillion.4 Hedge funds and private equity groups, special investment vehicles, and mega-bank holding companies changed the face of Western capitalism. They also brought on the collapse from which we still suffer. Ordinary people may not be acquainted with the numbers (and even those best informed are not sure of their significance), but people generally understand in different and often deep ways what has been happening: namely, an ongoing process of financialization that has come to dwarf production.
What is particularly important is that despite the huge bubble created by this metastasizing growth of finance, the economy did not expand as rapidly as it had in the postwar years, before the goods producing industries lost ground in terms of employment to other sectors of the economy, and when government spending was used actively to promote growth. While the nature of much of the growth that occurred then is certainly open to criticism from all sorts of standpoints, at the time there was widespread understanding in policy circles that government spending was.
Watch the following video and respond to the questions belowhtt.docxmelbruce90096
Watch the following video and respond to the questions below:
https://www.youtube.com/watch?v=ImQrUjlyHUg
(1) What is your opinion of Mark Pagel's explanation of language and humanity? (i.e., do you think his explanation of the evolution of language adequately addresses how humans have been impacted by the ability to communicate).
(2) How do you think "social learning" has influenced humanity? (think of the good and bad).
(3) Are there any additional thoughts that came to mind as you were watching this video?
Don’t Look Back in Anger at Bailouts and Stimulus
By Alan S. Blinder And Mark Zandi
The Wall Street Journal
Oct. 15, 2015 6:32 p.m. ET
Former Federal Reserve Chairman Ben Bernanke in an Oct. 6 interview on the Fox Business Network. PHOTO:
RICHARD DREW/ASSOCIATED PRESS
Without the emergency measures of 2008-09, the U.S.
economy would be far worse off today.
The publicity surrounding former Federal Reserve Chairman Ben Bernanke’s memoir prompts a
look-back at the stunning array of policy responses promulgated by the Fed, Congress and two
administrations to avert catastrophe during the financial crisis in 2008-09. This is important
because many of these initiatives haven’t aged well in the eyes of politicians and the public.
TARP, fiscal stimulus, quantitative easing and auto bailout remain dirty words to many people
who increasingly blame them for prolonging the Great Recession and the slow pace of recovery.
But in a study released Thursday for the Center on Budget and Policy Priorities, we found the
reverse to be true: These extraordinary policies ended the crisis and jump-started an economic
recovery that is stronger in the U.S. than in most countries.
Specifically, we estimate that:
• The peak-to-trough decline in real gross domestic product, which was barely more than 4%,
would have been close to a stunning 14%.
• The contraction would have lasted three years, more than twice as long as it did.
Don’t Look Back in Anger at Bailouts and Stimulus
By Alan S. Blinder And Mark Zandi
The Wall Street Journal
Oct. 15, 2015 6:32 p.m. ET
• More than 17 million jobs would have been lost, about twice the actual number.
• Unemployment would have peaked at just under 16%, rather than at 10%.
• The federal budget deficit would have ballooned to $2.8 trillion, equal to 18% of GDP,
compared with its actual peak of 10%.
• Today’s economy would be far weaker than it is—with real GDP about $800 billion lower, 3.6
million fewer jobs, and unemployment still at 7.6%.
The overwhelming nature of the fiscal and monetary policy responses is the main reason we
didn’t suffer a much-worse fate. Yet history is in danger of giving the powerful 2008-09
responses a misguided Bronx cheer.
Start with TARP. The Troubled Asset Relief Program was deeply unpopular in part because it
was so large—a $700 billion bailout fund—and aimed primarily at “Wall Street.” It felt wrong to
bail out guilty parties, and many.
The Economic Crisis of 2008 (US Housing Bubble) - Inside Job Movievalliappan1991
This document clearly narrates the events that led to the economic crisis of 2008 resulting in a global recession. In 2008, many global banks collapsed and had to be bailed out by the US government.
This document provides an introduction and analysis of the 2008 global financial crisis from an Islamic economic perspective. It summarizes that the crisis marked the beginning of the end of global capitalism due to the failure of its key principles around interest-based banking, fiat currency, and unregulated financial markets. The author argues that Islam provides a viable alternative economic model with principles like gold/silver-backed currency, interest-free lending, and clear rules around trade and public/private ownership that could bring greater stability and fairness. The crisis is seen as an opportunity for the Muslim world to establish an Islamic economic system as an alternative to the inevitable boom-bust cycles of capitalism.
The Financial Situation in the World by Wouter van der StokFelix Meißner
The Financial Situation in the World” by Wouter van der Stok
Mr. Van der Stok will present a brief history of the present global Economic/Financial Crisis, an analysis of future developments of this Crisis over the next 3 to10 years and how this will affect, without any exception, "me" as a person, family, business, city, nation and groups of nations
HERE YOU FIND THE RECORDING:
http://tinyurl.com/5vcl5hd
The Structure Of A Financial Crisis EssayAmber Moore
The document discusses the structure and causes of financial crises. It begins by providing context about Turkey's financial crisis in 2001 and discusses why countries experience financial crises. It then examines Turkey's privatization policies from the 1980s onward and some challenges they faced. Finally, it looks at Turkey's efforts to resume privatization in the early 1990s and the revenues generated, though the program progressed more slowly than planned. In general, the document analyzes Turkey's privatization approaches and the ongoing economic difficulties they faced.
The document discusses the economic crisis in Venezuela. It describes how Venezuela's economy is heavily dependent on oil exports, which account for over half of GDP. When global oil prices declined sharply in 2014-2015, Venezuela's economy nosedived into a severe crisis. Inflation skyrocketed as the currency lost value. Shortages of food, medicine and other basic goods became widespread as the government struggled to pay its bills. The crisis has led to political instability and unrest as the population grows increasingly impoverished.
The document discusses the Great Recession of 2008 and its causes and effects. It began with loose lending practices that led to a housing bubble and crisis in the subprime mortgage market. This caused a collapse in financial markets and a severe global economic downturn. Unemployment rose sharply as many major companies cut jobs. International trade also declined significantly. While not as severe as the Great Depression, the Great Recession had major negative impacts around the world due to the interconnected global economy and trade system.
Chairman Christopher Dodd gave a speech at the US Chamber of Commerce's 3rd Annual Capital Markets Summit. He argued that the financial crisis was caused by a breakdown in trust between businesses and consumers due to predatory lending practices and complex financial products consumers did not understand. To rebuild trust and the economy, Dodd called for greater transparency, disclosure, and responsibility in the financial system through a new era of regulation that protects consumers while not stifling innovation.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
2. Accountability A well regulated community or business entity, being necessary to the security of a free society, the right of the people to keep informed and to be armed with bare facts, shall not be infringed. US Constitution, Second Amendment [Amended]
3. The Life of a Turkey TIME SUSTAINING ACTIVITY Thanksgiving Day FORMULA FEED
4. The Life of a Financial Market Place TIME SUSTAINING ACTIVITY T FORMULA for GROWTH & PROFIT A BLACK SWAN! CORPORATIONS HOUSES MORTGAGES BONDS STOCKS INVESTMENTS DERIVATIVES (CDOs, CDSs & CMOs) BANKERS’ FEES COMMISSIONS PROFITS If things cannot go on for ever, they will eventually and inevitably STOP! [Herbert Stein – Chairman, President Reagan’s Council of Economic Advisors and Professor of Economics at the University of Virginia]
5. The Life of the Financial Market Place – A Black Swan! An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult to predict . This term was popularized by Nassim Nicholas Taleb, a finance professor and former Wall Street trader.
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8. The computer room at King's College Cambridge, is named after Alan Turing, a student there in 1931 and a Fellow in 1935 Computers – fathered by Turing - are now ubiquitous, notably in accounting, finance and investment .
9. Mapping the Future [County of Cambridgeshire UK.] [What has This to do With Anything?] Alan Turing , father of computers, went to King’s College, Cambridge, England
11. The Crash @ Six Mile Bottom - 1954!! Type: English Electric Canberra B.2 Operator: RAF 231 OCU Registration: WD981 C/n / msn: 71051 Fatalities: Fatalities: 3 / Occupants: 3 Airplane damage: Written off (damaged beyond repair) Location: .5 mile W of Six Mile Bottom, Newmarket , Cambridgeshire, England
27. Marketplace Myths (1) Government is, always and everywhere: wasteful, spendthrift, incompetent, inefficient, uneconomical and ineffective Business is, always and everywhere: ethical, frugal, thrifty, competent, efficient, economical and effective Private enterprise can, always and everywhere, operate more efficiently and effectively than a public enterprise. Excuse Me?
28. Marketplace Myths (2) The commercial market-place can, always and everywhere: allocate resources more efficiently than governments . There is no market failure. Always and everywhere, there is only governmental interference, together with policy and regulatory failure. [Even Federal Reserve ex-Chairman, Alan Greenspan does not believe this any more!]
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31. Efficiency & Ethics The pseudo-science of economics and the myth of unconstrained economic efficiency. Economics – like tanks and banks – does not care whom it helps and whom it hurts!
32. Efficiency & Ethics The military tank is a marvel of science and technology. Like the “science” of economics, it very efficiently ( but indiscriminately ) controls, supports, kills, wounds, destroys & damages.
36. Economic Efficiency: Tanks or Banks? “ [The man of system] seems to imagine that he can arrange the different numbers of a great society with as much ease as the hand arranges the different pieces of a chess-board; he does not consider that the pieces of a chess-board have no other principle of motion besides that which the hand impresses on them; but that, in the great chess-board of human society, every single piece has a principle of motion of its own , different from that which the legislature might seem to impress on it.” [Adam Smith: The Theory of Moral Sentiments]
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39. Cut-throat Competition “ We worshiped in the temple of cut-throat competition, and so some cooked the books, because the treasure is so great .” [Archbishop Tutu]
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41. Alan Greenspan and Adam Smith "I made a mistake," Greenspan said, "in presuming that the self-interests of organizations , specifically banks and others, were such as that they were best capable of protecting their own shareholders and their equity in the firms.” [a.k.a. “I refute Adam Smith!”] [* Lying to Congress is a felony] “ It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.... “ ....He intends only his own gain , and he is in this as in many other cases, led by an invisible hand* to promote an end which was no part of his intention . Nor is it always the worse for society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it.” [Adam Smith “Wealth of Nations”] US Senate Banking Committee*
42. Actually, Alan Greenspan Missed the Point! Adam Smith Knew Better! Read it again, this time with different emphasis: “ It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.... “ ....He intends only his own gain, and he is in this as in many other cases , led by an invisible hand* to promote an end which was no part of his intention. Nor is it always the worse for society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it.” [Adam Smith “Wealth of Nations”]
43. Actually, Adam Smith Knew Better! “… as in many other cases…”: BUT – NOT in ALL of them! . “… Nor is it always the worse for society…”: BUT – sometimes – it IS! “… he frequently promotes…”: BUT – sometimes – he does NOT! “… than when he really intends to promote it…” BUT – not, always, when he really does NOT so intend! [Adam Smith “Wealth of Nations”]
44. The Standard Neoclassical Economic Model “ I argue that the first fundamental theorem of welfare economics - asserting the efficiency of competitive markets - is fundamentally flawed . Quite contrary to that theorem, competitive economies are almost never efficient...” Joseph E. Stiglitz - Whither Socialism (2001 Nobel Laureate in Economics) Extracted from: “ Adam’s Myth Economics” A Slide Show, by David C. Jones
48. Regulation of Derivatives (1b) Many newer derivatives weren't traded on an exchange, constituting what some traders call the "dark markets." There were now millions of such private contracts, involving many of Wall Street's top firms. But there was no clearinghouse holding collateral, to settle a deal gone bad, no transparent records of who was trading what. Born wanted to shine a light into the dark.…she now wanted to open a formal discussion about whether to regulate them -- and if so, how. Greenspan, Rubin and Levitt were determined to derail her effort . At a meeting, in April, 1998, the trio's message was clear: “ Back off, Born!”
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51. The near collapse of Long Term Capital Management The Federal Reserve was TERRIFIED! Question : As a result, how much was done, by regulation or investigation, to prevent a recurrence? Answer : On a scale of 1 to 10 - Nothing!
52.
53. Accountability Investors in and Sellers of Mortgage-backed Securities (Derivatives): “ We were intending to use Arthur Andersen to help us to prepare our financial statements. “ But, after “Waste Management Incorporated” and “Enron,” Andersen went out of business!”
54. Accountability Investors in and Sellers of Mortgage-backed Securities (Derivatives): “ We used three “reputable” (??) credit-rating agencies, to value our investments”: “ Sub -Standard and Very- Poor”; “ Very Moody ” and “Fi l ch Ratings ”
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57. Accountability – Credit Rating Agencies ANSWER? Not very much, apparently! As part of a new set of rules adopted today, the Securities and Exchange Commission will prohibit credit rating agencies from helping to structure the same financial products they rate. Raters become the first industry to be handed new regulations as a result of the credit crisis. [CFO Magazine – CFO.com – 4 Dec. 2008]
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64. INTERNAL & EXTERNAL CONTROLS Price of Inputs Purpose Quantity of Inputs Questioning Capacity Pay Inputs Expenditure Permission Prestige Quality of inputs Productivity Probity Publicity Procedures Questing Intensity Power Production Characteristics of Activity
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67. “ The financial statements have been prepared in accordance with standards for “Financial Reporting and Accounting for Un-priceble Derivatives” (FRAUD). “Therefore, using “Creatively Regulated Accounting Practices” (CRAP) we hereby certify that these financial statements represent a true and fair view of the state of affairs of the company, as at the date of the balance sheet and of the activities for the year then ended. Arthur Underhand and Company Certified Public Accountants (Retired) Accountability [Model Financial Reporting Statement]
70. Accountability “ Fair Value Accounting is causing a large part of the problem at this moment…” Steve Bartlett, President and CEO Financial Services Roundtable Testimony to: U.S. House of Representatives Financial Services Committee 18 November, 2008
71. Fair Value Accounting David C. Jones, CPFA, FCCA, had heard this statement, when listening to his car radio. He was so astonished that he nearly crashed into a tree! (Not believing his ears, he later needed to verify it from the C-SPAN web-site, which carried the hearing of the US House of Representatives Financial Services Committee!)
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77. Expensive Fancy Funerals [Ashes to ashes; dust to dust] We brought nothing into this world and it is certain that we can carry nothing out! The Lord gave and the Lord hath taken away. Blessed be the name of the Lord! [BCP: 1662] [Robert Peston: BBC News]
78. Accounting A quote, from Ken Wagstaffe, a British professional colleague, and fellow accountant, who wrote a paper, about this kind of thing: "......it is based on some completely and fundamentally wrong notions about what accounting is. The level of ignorance about accounting is breathtaking. "
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81. “ I’m as mad as Hell and I’m not going to take this any more” [David C. Jones: Chartered Public Finance Accountant; Chartered Certified Accountant (UK)]
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88. Churchill Chart TRADING MANUFACTURE OR OPERATING ACCOUNT PROFIT AND LOSS ------------------------- INCOME AND EXPENDITURE NET EARNINGS ------------------------- GENERAL FUND SURPLUS EXPENSES CASH AND BANK DEPRECIATION OR CAPITAL FINANCING RESERVE -------------------------- FIXED ASSETS STOCK OF GOODS AND MATERIALS SALES -------------------------- REVENUE INCOME SPECIAL FUNDS -------------------------- PROVISION FOR EXPENSES MONETARY INVESTMENT DEBTORS (RECEIVABLES) CAPITAL & RESERVES (INCLUDING FIXED ASSET REVALUATION) 12 11 7 5 3 20 16 8 25 13 10 26 14 9 24 19 1 2 2 1 4 8 4 9 5 6 23 23 15 17 22 6 6 14 12 13 10 3 6 7 18 21 11 27 28 27 28 NOT ALL THERE IS TO IT
89. Churchill Chart – Production v. Financing TRADING MANUFACTURE OR OPERATING CASH AND BANK FIXED ASSETS -------------------------- DEPRECIATION STOCK OF GOODS AND MATERIALS SALES -------------------------- REVENUE INCOME RECEIVEABLES & INVESTMENTS EXPENSES PROFITS & LOSSES EQUITY CAPITAL FINANCIAL MANAGEMENT (& MISMANAGEMENT) PRODUCTION SELLING & MARKETING EARNINGS
90. The Neutrality of Investment, Credit & Lending [“Finance]… is but a walking shadow, a poor player that struts and frets his hour upon the stage and then is heard no more: it is a tale told by an idiot, full of sound and fury, signifying nothing.“ (Shakespeare) A MONETARY INVESTMENT (ASSET) IS ANOTHER’S DEBT (LIABILITY): RECEIVEABLES & INVESTMENTS
91. Financial Services I keep six honest serving-men (They taught me all I knew); Their names are What and Why and When And How and Where and Who. I send them over land and sea, I send them east and west; But after they have worked for me, I give them all a rest. [ Rudyard Kipling] Finance is merely serving-men (To show us what is due); Their names are What and Why and When And How and Where and Who. I send it over land and sea, I send it east and west; But after it has worked for me, I give MYSELF the rest!
92. Financial Services I keep six honest serving-men (They taught me all I knew); Their names are What and Why and When And How and Where and Who. I send them over land and sea, I send them east and west; But after they have worked for me, I give them all a rest. [Rudyard Kipling]
93. Financial Services Finance is merely serving-men (To show us what is due); Their names are What and Why and When And How and Where and Who. I send it over land and sea, I send it east and west; But after it has worked for me, I give MYSELF the rest!
104. Money and banking: Resources § or Results? * “ Granted, you are the clearing house of the world [but] are you entirely beyond anxiety as to the permanence of your great position?...Banking is not the creator of our prosperity, but is the creation of it. It is not the cause of our wealth § , but it is the consequence * of our wealth.” [Joseph Chamberlain (British colonial secretary): statement to bankers – 1904] * § “An accountant records and interprets, in money values, the results of variations during any period of time, at the end of which he can balance Net Results * (of past operations) against Net Resources § (available for future operations)”. [David C. Jones]
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111. The “Folk Theorem” or “Folk Fable” of the “Free Market” Economics of Adam Smith Adam Smith also wrote (implying major and fundamental aspects of market inefficiency and failure, through the tendency towards monopoly): “ People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy to raise prices” and “ ....to widen the market and to narrow the competition, is always the interest of the dealers.....an order of men, whose interest is never exactly the same with that of the public, and who accordingly have, upon many occasions, both deceived and oppressed it.”
112.
113. “ The October Revolution” “I’m as mad as Hell and I’m not going to take this any more” [Man Friday and Friends]
114. Biblical Economic Capitalism [Psalm 23 – KJV] Psalmist’s Prophecy Application Thou shalt prepare a table before me Table of toxic derivatives & bad debts Against them that trouble me Sub-prime mortgages [ and the accounting profession – re “fair value accounting!”] Thou annointest my head with oil Traders in oil futures And my cup shall be full Corporate chief executives But thy loving-kindness and mercy shall follow me all the days of my life Recipients of corporate redundancy and retirement packages.
121. The (Former) Colonial Version of Trade The (Modern) Reverse-Colonial Version of Trade The colonial powers – notably Britain; Netherlands; France; Portugal; Spain. – traded trinkets with, e.g. Indians; Chinese; Africans; Native Americans, in exchange for (real) gold, silver, spices and other items of wealth. The former colonial, colonized and other, powers – notably USA; Canada; Australasia; Western Europe; and, Japan. – buy trinkets and toys (including economy cars; computers; electronics; etc., from e.g. The: Indian sub-continentals; Chinese; Koreans; Malaysians; and, many others, in exchange for (valuable) Foreign Exchange Reserves
122. The Former (Hollywood) Version of Bank Robbery “ Hand over the money – or we’ll shoot!” [Bank Robbers – armed with guns ] ________________ The Modern (Woolly-head) Version of Bank Grabbery “ Hands out for our money – or we’ll shout!” [U.S. Treasury Department – armed with tons (of money)]
129. CONSOLIDATED PROFIT & LOSS ACCOUNTS c CAP = EQUITY CAPITAL PPE = PROPERTY, PLANT & EQUIPMENT C&I = CASH & INVENTORY INT - = INTEREST PAYABLE (CANCELLED AGAINST INTEREST RECEIVABLE) INT + = INTEREST RECEIVABLE (CANCELLED AGAINST INTEREST PAYABLE) PRODUCTIVE ASSETS GENERATE REAL INCOME
133. DO THE MATH! ( Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ + Δ ) – ( + + + + + + + + + + + + + + + + + + + ) = 0 VALUATIONS, AT HISTORICAL COST – OR FAIR VALUE (BUT) TOO MANY LOANS – CREATING TOO LARGE A TOTAL [MONETARY INVESTMENTS (ASSETS)] [LONG-TERM DEBT – AND SIMILAR (LIABILITIES)]
134. LAW OF DIMINISHING RETURNS FINANCIAL, ECONOMIC & SOCIAL BENEFITS VALUE OF LOAN PORTFOLIO B V 0 STEEPLY ACCELERATING BENEFITS GRADUALLY DECELERATING BENEFITS ABSOLUTE BENEFITS FALLING GRADUALLY ACCELERATING BENEFITS THE LOAN PORTFOLIO IS TOO LARGE TO BE VIABLE! IT IS “OUT OF CONTROL.”
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137. Too Big to Fail – or Two Figs* to Bail Bank of America is among the companies being bailed by U.S. taxpayers out while having subsidiaries where they can avoid paying U.S. taxes. (Damian Dovarganes -- Associated Press) * They “don't give two figs" = complete lack of care or concern for the situation!
138. “ LAW” OF DIMINISHING CAPITAL COVERAGE VALUES OF LOAN PORTFOLIOS B V 0 RATIO OF CAPITAL TO (MONETARY) ASSETS: LOANS HANGING IN BY A THREAD! MONETARY ASSETS: LOANS MADE CAPITAL & RESERVES
144. IMF warns of 'disturbing' UK debt The level of debt in the UK is "disturbing," the head of the International Monetary Fund has said. But Dominique Strauss-Kahn told the BBC that given the severity of the economic downturn, more government borrowing was the lesser of two evils. He said 2009 would be "a really bad year" and more state spending was necessary to stimulate growth. [BBC News: 21 December, 2008]
145. David C. Jones Warns US Congress of ‘Disturbing' Washington DC Debt Emergency Long-term Borrowing by the District of Columbia It is certainly not a standard municipal finance practice to permit long term borrowing, merely to cover a general accumulated budgetary deficit. Thus, the situation in which the D.C. government finds itself, measured against normal [municipal] financing principles, is about the worst that could possibly be imagined… … although the proposal to issue long term debt instruments technically violates all normal principles of [municipal] finance , it is one that should - in this special instance - be given serious consideration, because all the other choices are likely worse . That is really its only redeeming feature . All seem to acknowledge…that the most that can be done, at present, is to "make the best of a bad job.“ [Testimony of David C. Jones to the U.S. House of Representatives – July 25, 1991]
146. The Balance of Accounting RESOURCES RESULTS DEBIT DEBIT CREDIT CREDIT Resources must always equal Results
147.
148.
149. Under-utilized Capital (e.g. Building Capacity) OCCUPIED AND/OR PRODUCTIVE USE (ONLY A PART - OR NONE) UNOCCUPIED AND/OR NO PRODUCTIVE USE (REMAINDER) VERSUS LAND AND INFRASTRUCTURE BUILDINGS
150.
151.
152. LEVELS OF FINANCIAL CONCERN NEW DEBT OR EQUITY FINANCE CAPITAL COST & DEBT SERVICE ADEQUATE CASH-FLOW ESSENTIAL CONCERNS CAPITAL STRUCTURE EXPANSION & DEVELOPMENT SURVIVAL NEW OPERATING COST & INTEREST PROFITABILITY SUSTAINABILITY POTENTIALS FOR DISRUPTION INSTITUTION GOING CONCERN (STEADY STATE) PROJECTS (DISRUPTIVE) OVERALL ACHIEVEMENT FINANCIAL REQUIREMENTS
158. Use of Economic Resources (Figure 13f) RESULTS RESOURCE MOBILIZATION CAPITAL CONTRIBUTIONS ASSET SALES LONG-TERM DEBT TEMPORARY DEBT SUPPLIERS (CREDIT) RESOURCE ACTIVATION INFORMATION RAW MATERIALS SERVICES ENERGY LABOR CUSTOMERS & CLIENTS THE COMMON WEALTH NATURAL RESOURCES MONETARY INVESTMENT INVENTORIES WORK IN PROGRESS CUSTOMERS (CREDIT) CASH RESOURCE ALLOCATION (& RESOURCE CONSERVATION) LAND PERMANENT WORKS BUILDINGS EQUIPMENT & MACHINERY RESOURCE UTILIZATION PRODUCTION DISTRIBUTION OPERATION MAINTENANCE ADMINISTRATION TAXES DEPRECIATION INTEREST DIVIDEND RETAINED EARNINGS PROPERTY DISPOSAL HUMAN CAPITAL* MANAGEMENT (ENTERPRISE)* * CREATIVE, INNOVATIVE (RIGHT-BRAIN) TALENT COMMERCIAL, SOCIAL & ECOLOGICAL RETURN & REINVESTMENT WASTE, DAMAGE & DESTRUCTION COMMERCIAL, SOCIAL & ECOLOGICAL CONSUMPTION (SATISFACTION) COMMERCIAL, SOCIAL & ECOLOGICAL STIMULATION
159. RESULTS OF ACTIVITY (USE OF RESOURCES) COMMERCIAL, SOCIAL & ECOLOGICAL RETURN & REINVESTMENT WASTE, DAMAGE & DESTRUCTION INNOVATION - CONSUMER SATISFACTION , REINVESTMENT & PRODUCT DEVELOPMENT COMMERCIAL, SOCIAL & ECOLOGICAL ECOLOGICAL CONSUMPTION (SATISFACTION) COMMERCIAL, SOCIAL & ECOLOGICAL IMPORTANT SUCCESS CRITERIA AND PRINCIPAL FOCUS OF ATTENTION PERFORMING USEFUL & HIGH-QUALITY ACTIVITIES AT APPROPRIATE PLACES AND TIMES LONG-TERM OPTIMIZATION OF RESOURCE USE (PRODUCTIVITY & WASTE CONTROL) DEBT SERVICE QUALITY OF ENVIRONMENT PAYMENT OF TAXES MAXIMIZATION OF PROFIT QUALITY OF SOCIAL LIFE OPERATIONAL & FINANCIAL RELIABILITY WASTE DISPOSAL PRODUCT & SERVICE QUALITY QUALITY OF LABOR LIFE DAMAGE RECTIFICATION Resource Consumption v. Results
160.
161. “ Cost” Cutting by Wolfgang Amadeus Mozart (“W.A.M.” Principles) Conversation Emperor of Austria to Mozart: Methinks your symphony is a trifle too long, young sir! There are too many notes! Mozart: Indeed your Majesty, and precisely which notes would you have me remove? [“Amadeus”-Movie] Conclusion It really is not about size or length, is it? It is, I think, about depth . Depth of perception, depth of appreciation, depth of acknowledgement of the sheer vastness of what we do not “know” - yet - but would: (a) “love or like” to know; (b) don’t know and don’t care; or (c) know very well and don’t care!! “ Remove those that are soiled!” (Like Toxic Derivatives) “ But – they are all mixed up together!” (Like Toxic & Other Derivatives)
162. RESULTS OF ACTIVITY – A SYMPHONY OF OUTCOMES COMMERCIAL, SOCIAL & ECOLOGICAL RETURN & REINVESTMENT WASTE, DAMAGE & DESTRUCTION INNOVATION - CONSUMER SATISFACTION , REINVESTMENT & PRODUCT DEVELOPMENT COMMERCIAL, SOCIAL & ECOLOGICAL CONSUMPTION (SATISFACTION) COMMERCIAL, SOCIAL & ECOLOGICAL (“W.A.M.” PRINCIPLES): IMPORTANT NOTES - SUCCESS CRITERIA AND PRINCIPAL FOCUS OF ATTENTION TO CUT “COSTS”: WHICH OF THESE NOTES WOULD YOU LIKE US TO REMOVE, OR DIMINISH – MR. MAYOR? PERFORMING USEFUL & HIGH-QUALITY ACTIVITIES AT APPROPRIATE PLACES AND TIMES LONG-TERM OPTIMIZATION OF RESOURCE USE (PRODUCTIVITY & WASTE CONTROL) DEBT SERVICE QUALITY OF ENVIRONMENT PAYMENT OF TAXES MAXIMIZATION OF PROFIT QUALITY OF SOCIAL LIFE (SHARP) OPERATIONAL & FINANCIAL RELIABILITY WASTE DISPOSAL PRODUCT & SERVICE QUALITY QUALITY OF LABOR LIFE DAMAGE RECTIFICATION Cost v Quality of Service ♯ ♫♪♫ ♯ ♫ ♫ ♯ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♫ ♯ ♫♪♫
163. Public and Private Enterprise The essence of “economics-in-community” is very much to provide meaningful and satisfying work, as it is a means to creating: adequate and quality goods and services; decent recreation; and, quiet cultural or spiritual reflection. Yet, the markets for goods and services is rarely emphasized and the market for labor is highlighted only as for a commodity, to the extent that an increase in employment (reduction in unemployment) of ordinary workers might threaten the monetary values of the wealth-tokens of money-traders! Even though the real (economic) values of these tokens are, in effect, zero! [Adapted from: “The Common Good” (Daly & Cobb)]
164.
165.
166. INFORMATION AS A MARKET FACTOR Information Quality VALUATION ACCURACY 0 Information > (Good Information = Accurate Valuation & Pricing) VALUE 100% 100% ( Poor Information = Flawed Valuation & Pricing)
170. When Omar’s Car is NOT Well-maintained [IT IS A “LEMON!”] OMAR’S CAR WHAT PRICE WOULD YOU PAY FOR IT? ?
171. When Omar’s MORTAGE is NOT Well-Serviced : [ Principal and Interest NOT Paid On time and In Full] [IT IS A “LEMON!”] OMAR’S MORTGAGE WHAT PRICE WOULD YOU PAY FOR IT?? ? ?
172. A MORTAGE-BACKED SECURITY Includes several LEMONS [IT IS “ LEMON ADE !”] OMAR’S DERIVATIVE WHAT PRICE WOULD YOU PAY FOR IT?? ? ? ? ? ? }
173. When Omar’s HOUSE is NOT Well-Valued : [ And May Not be Well-Maintained] [IT IS A “LEMON!”] OMAR’S HOUSE WHAT PRICE WOULD YOU PAY FOR IT?? WOULD YOU ACCEPT IT AS COLLATERAL?? ?
185. EPILOGUE AND OBITUARY Mr. Fyodorov used to lament the fact that that even he could not find the right phrase, in Russian, for “Corporate Governance”. All those concerned with “Western-style” capitalism must now, also, lament the fact that even they cannot find the right phrase, in English , for “ Corporate Governance!”.