UK Interest Rates During the Financial Crash

UK Interest Rates During the Financial Crash Central banks always have responsibility to keep a stable economy which includes stable prices, low inflation rate and confidence in the local economy. The main tool used by central banks for these propose is monetary policy which will influence the interest rate, and the way of conduct it varies from country to country. This essay will look into the Bank of England and explain the transmission of monetary policy and how the policy affected by the credit crunch. The Bank of England gained its independent right to set up interest rate according to the target inflation rate since May 1997. The preferred target inflation rate in the United Kingdom is 2% and the Bank of England sets appropriate interest rate to ensure the real inflation rate is moving towards the target inflation rate in an acceptable time period. However, the fixed target inflation rate does not necessary mean a constant interest rate. An Overview of the change of interest rate in UK banks from 1973 to 2009, from which a fluctuate trend could be observed among the whole period and there was a sharply decrease from nearly 15% to 5% during 1989 to 1993 when the United Kingdom was experiencing an economy recession. After 1993, the interest rate was relatively stable until 2008. However, between 2008 and 2009 the interest rate deeply drops from 5.25% to 0.5% for the recent credit crunch. From the data from the Bank of Englands report, the interest rate decreased at a rate of 1% per month constantly from October 2008 to January 2009 after the Lehman Brothers bankrupt. It is well known that a low interest rate represents a loose monetary policy which is aim to increase the inflation rate and the economy. It may illustrate how the interest rate set by the Bank of England conduct the monetary policy. The official rate set by the Bank of England direct influence the market rates includes the repo rate, bond rate, inner bank borrowing rate and so on. Then the market rate sets the asset prices in the financial market which will in turn affects peoples expectations of the economy. Also, the official rates would give people the signal about how will the market moves. For instance, a decrease in official rate will shows a loose monetary policy to the public and people would expect a rise in the price level and then may increase their domestic consuming demand. In addition, the official rate change will affect the exchange rate directly for it alters the domestic investment rate.(Mishkin, 2006). At the second stage, the official rate indirectly affects the domestic demand and net external demand, which forms the total demand, via the market rates, asset prices, expectations and exchange rate. Then the total demand influences the domestic inflation rate. Finally, the domestic inflation and import prices decide the inflation. For example, as mentioned above, a decrease interest rate will increase the publics domestic demand and also would decrease the exchange rate against foreign currencies which may consequently increase the export demand for the goods will be cheaper for foreign consumers. As a result, the total demand will increase and may eventually raise the price level and lead to an increase in inflation rate. Timing effect is another factor that the Bank of England concerns for the monetary policy. That is to say, the effects of changing interest rate are not instantly but take time to fully function. Some channels may be more sensitive to the change while others may not. The Bank of England estimates that a monetary policy may takes up to 2 years to be fully influence the inflation rate. The past statistic data supports this view that the inflation rate was nearly 2.3% in 2007 and increased to 2.9% in March 2009 during which period a sharp decrease in interest rate could be observed. The reason for this sharp decline of interest rate from 2008 to 2009 is mainly accounts for the credit crunch recently. The credit crunch shows a strong shortage in capital supply and declining quality of borrowers financial health (Mizen, 2008). Also, the credit crunch gives very bad expectation to the public about the economy and the price of real estate was declining relatively. Consequently, investors are lack of motivation to invest for the low earnings due to the declining prices and a high risk for the credit crunch. On the other hand, for the householders may feel less wealth for the decreasing prices and lack of sense of the financial safety, they may reduce the consuming and prefer to deposit in the bank. Both phenomena are not preferable for a growing economy in that the Bank of England cut the rate sharply to increase the supply of capital and wish to encourage the amount of invest and consume to cease the recession. In fact, the GDP growth rate from 2008 to 2009 was only 0.7% and the growth rate from 2007 to 2008 was 3% (Fedec, 2009). The growth in the first quarter in 2009 was even worse, which was 4.1%, that may be the reason for the Bank of England cuts the rate to 0.5%, which was only one tenth compared to the same time last year. As the data shows the inflation rate rose in response to the loose monetary police, the GDP growth rate may not be very optimistic for the pessimistic among the public. References: Bank of England, 2008 â€Å"How Monetary Policy Works†, Bank of England, http://www.bankofengland.co.uk/monetarypolicy/how.htm Bank of England, 2009 â€Å"Base Rate†, Bank of England, http://www.bankofengland.co.uk/statistics/rates/baserate.pdf Bank of England, 2008 â€Å"Monetary Policy Framework†, Bank of England, http://www.bankofengland.co.uk/monetarypolicy/framework.htm Fedec A,2009, â€Å"No End Yet to British Resession†, TradingEconomics, http://www.tradingeconomics.com/Economics/GDP Growth.aspx?Symbol=GBP Mizen P, 2008, â€Å"The Credit Crunch of 2007 2008: A Discussion of the Back ground, Market Reactions, and Policy Responses†, Federal Reserve Bank of St. Louis Review, 90(5). pp.531 67 Mishkin, F.S., Eakins, S.G. 2006, Financial Markets and Institutions, Fifth Edition, Pearson International Edition, pp. 219 244. RateInflation, â€Å"UK Historic Inflation Rate†, RateInflation http://www.rateinflation.com/inflation rate/uk historical inflation rate.php?form=ukir Part B Securitization started from 1970s firstly in the US market and then also trivial in the Europe after the new rules was adopted. It is welcomed by most banks because it brings additional way for banks making profits and it is an off balance sheet activity. However, due to variety risks associated with securitization and the endless re securitization, it may lead to sever financial crises. In fact, this would be the main reason for the Northern Crisis and the recent credit crunch (Mizen, 2008). This essay will first introduce the process of securitization then explain the risks in the process with a special focus on mortgage backed securitization and discuss its effects in the credit crunch. The definition of securitization is quite straightforward: it is â€Å"the process of pooling and repackaging loans into securities that are then sold to investors† (Ergungor, 2003). There are many assets would be securitized such as: mortgages, home equity loans, manufactured housing loans, credit card receivables and so on. By securitization, banks are able to sell those illiquidity assets to different investors. Besides, banks would create derivates by pooling assets together. There are variety types of securitization depending on the backed asset or payment method. For instance, the most popular type of securitization is Mortgage Backed Securitization (MBS), and there are Asset Backed Securitization (ABS), and Collateralized Debt Obligation (CDO). Basically, the progress of mortgage backed securitization creates a mortgage pool and the agency sells shares of the pool to different investors according to their preferences. Then the cash flows from the mortgage passed along to investors (Van, 1998). Agencies usually pooled together mortgage and divide those payments into several parts and develop different cash flows to create different type of securities which may have different maturity or yields, and sell them to investors with different risk attitude. The total sum of cash parts will be equal to the whole. The progress of securitization brings considerable benefits to banks. First of all, as banks are regulated to meet the minimal capital requirement which may reduce profits banks would earn. As a result banks may prefer to engage in securitization which is off balance sheet so that do not require banks to meet the capital requirement and gives a more attractive opportunity for banks earning. On the other side, investors prefer less risky and higher return which could be fulfilled by buying the debts through securitization. It is less risky for it is backed by mortgage and has a higher rate than deposit. Besides, as the Great Depression and bank fails not very long before, investors no longer consider deposit in the bank as a safe heaven (Ergungor, 2003). In this procedure, agencies do not really have cost except transaction costs which will be induced from investors. In addition, if another investor buys a share, he may also securitize it and sell it to others. In that way, one mortgage would be re securitized many times. Consequently, if one mortgage fails to repay, many securities may face the risk of default which to some extend enlarge the risk to the whole financial system. In contrast to default risk, agencies also face repayment risk in the process. To be more specific, for example, if the borrower expects the interest rate would fall then he may repay the debt early to refinance in a lower cost, meanwhile, agency are suppose to produce constant repayment periodically to investors who buy the MBS. As a result, the agency have to reinvest the amount of money repaid early by borrowers and which forces them engage in a reinvestment risk in case the interest rate may fall. Mizen(2008) points out that the credit crunch started from 2007 is very complicated for now there are many financial innovations giving ways to packaging and reselling assets. Then he argues that the main reason for these financial crises is mispricing risk of the products which are mortgage backed securities. Historical events show that the beginning of this credit crunch was a serial of mortgage defaults. Then these defaults bring downgraded subprime related mortgage products which then lead to countrywide mortgage bank losses in the U.S. However, this trend did not stop; it soon spread to European banks which have tight relationship to the U.S. financial markets. It is acknowledged that the Credit crunch of 2007 2008 develops after this the full scale (Mizen, 2008). The amount in billions of dollars of household credit market debt outstanding from 1950 to 2009. It could be seen that the trend of growing was much shaper after 2000 and peaked in 2009 when the approximately $11 trillion is mortgage debt (Bubbles, 2008). It is not hard to imagine that 1% of the total amount of mortgage debt was securitized and only 1% of the securitized debt was re securitized when some of them default, how great the amount of dollars would be involved in. That was what happened in the Credit Crunch, for a trivial subprime mortgage market, financial institutions are tied in a line and the re securitization strength this tie and increase the risk and the price of default. Once one default, the whole will suffer, the globalization also enlarges the scale that will suffer. References: Bubble H,2008, â€Å"A Decade of Slow Growth: Why the United States will Face a Decade of Economic Stagnation and Face a L Shaped Recession. 10 Charts and Pictures as to Why This will Occur.†, http://www.doctorhousingbubble.com/a decade of slow growth why the united states will face a decade of economic stagnation and face a l shaped recession 10 charts and pictures as to why this will occur/ Ergungor E,2003, â€Å"Securitization†, Federal Reserve Bank of Cleveland, August 15, 2008 Mizen P, 2008, â€Å"The Credit Crunch of 2007 2008: A Discussion of the Back ground, Market Reactions, and Policy Responses†, Federal Reserve Bank of St. Louis Review, 90(5). pp.531 67 Van H, James C (1998), Financial Market Rates and Flows, Chapter 13, PP 119. Prentice Hall

Carol Ann Duffy Essay -- Carol Ann Duffy Biography Poets Writers Essay

Carol Ann Duffy Carol Ann Duffy was born in Glasgow on 23rd. December 1965 .she is widely commended as Britain's leading female poet. She has studied philosophy at Liverpool University. Her mother was Mary Black, an Irish. And her father was called Frank Duffy. She has four younger brothers. She attended St Austin Roman Catholic Primary School, Stafford from 1962 to 1967, after which she attended St Joseph's convent school, Stafford. She was encouraged in poetry by her teacher June Scriven. She decided that she was going to be a poet at the age of 14. At the age of 16 she met a 39-year-old Liverpool poet Adrian Henri and they started going out together. When she was 18, She had her first pamphlet of poems, Fleshweathercock, published by Outposts in 1973. In 1977 she graduated with a BA honours degree in philosophy. She was influenced by the writings of Ludwig Wittgenstein during her studies. After graduating she worked for Granada Television. In 1981 she moved to London where she lived until 1995. In the early 1980s she took up freelance writing, and...

Hackers :: essays research papers fc

Hacking: "Slang word for a computer enthusiast. One who breaks into the computer system of a company or government." 1 Most hackers break into computers not to wreak havoc, but simply to explore and share information with one another. A small minority, however, do wish to create mischief. These individuals are the ones who have the public fearing hackers. They are genuinely responsible for the Media calling hackers criminals. These individuals and gangs purposely break into computers for personal financial gain, or to turn your six thousand dollar state of the art computer into a six thousand dollar paperweight. A hacker via RoadRunner can easily glide into an unprotected PC.2 There; they can potentially get credit card numbers and other valuable goodies. â€Å"Instead of thinking 'criminal' or 'vandal' when hearing the word hacker, we want the public to think of 'knowledge seekers' and 'curious wanderers'.† 3 â€Å"Destruction and unethical ignorance has plagued the underground too long, let's bring back the old school ways of creation and system penetrating for the knowledge that it is holding, not for the destruction of that knowledge nor the possessors of it.† 3 -www.hackers.com A stereotype that is casually applied to a hacker, is that they are geeks, doofs and nerds. They have few or no friends and spend the majority of their time in front of their computers. In actuality a hacker could be a CEO of a multinational, or the person sitting next to you on the subway. Obviously there are some things all hackers have in common. All are able to do advanced calculations in math, are well versed in computer languages, and have a good grasp of their Native language. They must have a state of the art computer that they know inside and out. They also have access to, or knowledge of secret codes and computer languages. Hackers have many tools in their â€Å"toolbox† for breaking into computers. An example of this is a Password Sniffer. This is a program, which is secretly hidden on a network. The sniffer is programmed to record, in a secret file, logos and passwords. In the span of a week, these tiny, planted programs can record hundreds of user names and code words and their associated passwords. This information is then sent back to the hacker. Last year an advisory from Carnegie Mellon University's Computer Emergency Response Team warned that, because of a rash of sniffing attacks, tens of thousands of passwords had been stolen and were presumed to be compromised.

Sef Gonzales Report

The law is both effective and ineffective throughout the entire criminal process in achieving justice in the murder case involving Sef Gonzales. The case â€Å"Regina vs Gonzales (2004) NSW SC 822† involved the triple murders of Gonzales’s mother, father and only sister The meaning of justice is that everyone is treated equally and fairly under the law. The law was effective in this case because justice was achieved, for the accused, for the victims and for society.Former Sydney student Sef Gonzales has been sentenced to life imprisonment for the triple murder of his parents, solicitor Ted Gonzales, Mary Loiva Gonzales and then 18-year old sister Clodine in their North Ryde home in Sydney’s north-west on July 10, 2001. Clodine Gonzales was the prisoner’s sister and his only sibling. She had had her eighteenth birthday on 9 July 2001, the day before the murders. Mary Loiva Josephine Gonzales was the prisoner’s mother and Teddy Gonzales was the prison er’s father.In order for a crime to occur, both elements of the crime, Actus Reus and mens rea must be present. Actus Reus and mens rea are legal terms used to define a crime. Both elements must be present for an accused to be found guilty of a crime (except for strict liability). Mens rea means that the person must have had a guilty mind at the time of committing the crime- that is they must have intended to commit the crime. According to this case, both elements were present.Mens rea occurred when Gonzales had planned the killing for a long time and also had the intention to kill each of the victims and had actually administered poison to his mother Actus reus was the actions of the accused which occurred in this case when Gonzales did the physical act of murdering his mother, sister and father. He killed the victims by stabbing them with a knife or, in the case of Clodine, striking her with a bat and strangling her, as well as stabbing her with a knife. There was a high de gree of violence in all of the murders.The law was effective in this case because these two elements were proven in the trial. Sef Gonzales decided to kill his parents for many reasons. There are four different factors that might lead to a criminal behaviour. These factors are social, economic, self-interest or genetic. In this cases, the factors are economic and self-interest. I find that the motives for the prisoner committing the murders were that he was fearful that, because of his poor performance in his university studies, his parents might take his car away from him and might withdraw other privileges which had been granted to him nd that he wished to succeed, without delay and as sole heir, to his parents’ property. He had also argued with his mother over a girlfriend of whom she disapproved, and his family had threatened to disinherit him. Sef wasn’t really happy with his parents decisions. The law was effective in this case by the prosecution proving beyond r easonable doubt these factors motivated the awful crimes. In this case the DDP was represented by Mark Tedeschi QC who alleged that Gonzales murdered his Mother, father and sister at the family home on 10th of July 2001.They said that the murders were within the worst class of cases of murder and that they were planned. Gonzales was found guilty beyond reasonable doubt by the jury of all three charges. The DPP was successful in arguing their case so justice was effectively achieved however it was ineffective because it took three years for the case to come to trial. In serious criminal matters such as murder, the accused will attend the Local Court for a committal hearing where the magistrate will determine whether a case, at first sight (prima-facie), exists.It was found in the Local Court that there was enough prima facie evidence to bring a case against Gonzales. The trial against Gonzales began in the Supreme Court on 27th of August 2004 in front of Justice Bruce James, Gonzales pleaded not guilty to the three charges of murder and one charge of threatening product contamination. The judgement was handed down on 17th September 2004 with a guilty verdict, Gonzales received three life imprisonment sentences to be served concurrently.The law was effective in achieving justice in this case but was ineffective because it took over 3 years to get a judgement. Gonzales pleaded not guilty to the offences of three counts of murder and one threatening product contamination even though he was told that the sentence would be lesser if he pleaded guilty. There are two factors which affect the sentencing decision. They are called migitating and aggravating factors.In this case, there are no facts migitating the objective seriousness of the murders. The aggravating factors in Gonzales’s case submitted by the crown were that Sef committed multiple murders who were his own family members. The murders were planned and premeditated. The prisoner has had it in mind to kill his parents from the time he began researching poisons on the internet some months before 10 July 2001. They were brutal and violent. Sef had also attempted to poison his mother.Gonzales showed no remorse. He gave the police false alibis and tried to frame others for the murders. Other false trails were the fabrication of an e-mail that implicated a business rival of Teddy in the murders, the fabrication of threatening e-mails, and the staging of an attempted burglary and an abduction. Sef also put a deposit on a $173,000 Lexus, telling the dealership he would be using his inheritance to pay for the vehicle, traded in his parent's car and pawned his mother's jewellery.The prisoner was not at the time of committing the offences suffering from any mental illness or mental disorder or any mental state which would migitate the criminality of his conduct The court is to impose a sentence of imprisonment for life on a person who is convicted of murder if the court is satisfied that t he level of culpability in the commission of the offence is so extreme that the community interest in retribution, punishment, community protection and deterrence can only be met through the imposition of that sentence†.Sef Gonzales has been sentenced to three concurrent life sentences for the crime, which the judge said fell into the worst category of murder ithout the possibility of parole for the murders of his parents, Teddy and Mary Loiva, and younger sister Clodine However, police investigating the murders began to believe that he was the perpetrator. In December, investigating police were able to disprove Gonzales' first alibi, when they were told of sightings of his car in the driveway at the time of the murders.Gonzales then constructed a second alibi, claiming he had visited a brothel at the time of the murders, but this was proven to be false by the prostitute who he claimed to be with at the time. On 20 May 2004 at the conclusion of a trial, the jury found the pris oner Sef Gonzales guilty of the three counts of murder with which he had been charged that on 10 July 2001 at North Ryde he had murdered Clodine Gonzales, Mary Loiva Josephine Gonzales and Teddy GonzalesThe Crown submitted, in effect, that the murders committed by the prisoner were objectively heinous, that they fell within the worst class of cases of murder at common law and also fell within s 61(1) of the Crimes (Sentencing Procedure) Act, that there was no circumstance mitigating the objective criminality of the offences and that, with the possible exception of the prisoner’s youth, there was no subjective feature which would mitigate the penalties which should be imposed. Consequently, subject possibly to the prisoner’s youth, maximum sentences of life imprisonment should be imposed.In support of these submissions the Crown said inter alia that the prisoner had committed three murders; that the victims were the prisoner’s parents and sister; that there had b een a high degree of brutality or violence in the commission of the murders; that the murders had been premeditated and planned; that, although the murders had been committed in one criminal episode, there had been distinct intervals of time between the commission of the first and second murders and the commission of the second and third murders; that the prisoner had made searches about poisons and had obtained poisonous seeds with the intention of poisoning his parents and had administered poison to his mother; that he had gone out with Sam Dacillo on the evening of 10 July as part of a plan to create an alibi for himself for at least the time he was with Sam Dacillo and that his going out with Sam Dacillo, so soon after he had committed the murders, demonstrated his callousness;that he had acted out of the base motives of ridding himself of threats to his way of life and of obtaining an inheritance from his parents; that he had raised false alibis and laid false trails with the i ntention of misleading police; that he had not pleaded guilty; that he had not shown any contrition; that he had not provided any assistance to law enforcement authorities, indeed, quite the contrary; that he did not have any excuse of having had a deprived background or upbringing; and that he did not suffer from any mental condition which might have mitigated his criminality. The Crown submitted that the only matter which might possibly mitigate the penalties which should be imposed was the prisoner’s young age.However, the Crown submitted, the present offences were so heinous that the young age of the prisoner should not result in any mitigation of penalty. The court is to impose a sentence of imprisonment for life on a person who is convicted of murder if the court is satisfied that the level of culpability in the commission of the offence is so extreme that the community interest in retribution, punishment, community protection and deterrence can only be met through the imposition of that sentence I do not make any finding that the prisoner has no prospects of rehabilitation. However, I consider that there is a risk of the prisoner re-offending and that there is a risk of future dangerousness.I base this conclusion on the following matters among others:- The objective facts of the offences; that the prisoner pleaded not guilty; that more than three years after having committed the offences the prisoner continues to maintain his innocence and has not demonstrated any insight into the enormity of the offences he committed or any acceptance of responsibility for the offences; and the high degree of unscrupulousness and duplicity shown by the prisoner in the raising of the false alibis and the laying of the false trails. I take into account the prisoner's young age at the time of committing the offences. He was twenty years old, approaching his twenty-first birthday, and he was in his third year as a university student. †¦ However, the conclusion I have reached is that the objective facts of the offences and the subjective circumstances of the prisoner are such that I should impose sentences of life imprisonment for the murders. †.

Reflection Zamboanga Seige

Zamboanga Seige and Me As I was scanning my Facebook newsfeed, a post form my sister enamored me and in that post she was asking if it is dead on target that the members of the MNLF group were able to enter our city. I can unruffled remember the legal opinion I felt that dawn, the feeling that I dont know where to put myself because my mom, dad, siblings, niece, nephew and relatives atomic number 18 staying at Tugbungan an adjacent barangay to Barangay Mariki using speedboat. Aside from that I am trembling because of the fear internal and out of my system.That was Just the start of the 20 days and counting sleepless nights I and my family experience. On the succeeding days, it was more slimy and midpoint- stopping. As I hear the gunshots and explosions my shopping center Jumps and stops to beat for a second. l, as a Zamboangena living in this city for 21 years, am not apply to hear and experience such things. From that on, my bypast 20 days was never normal. I am always alert and am living my spiritedness now in fear that one day I might wake up losing someone close to my heart or the barangay where I am staying might also be ttacked.My normal routine like doing my thesis, passing game to school and having quality time with friends and family was release off. With the attack of the MNLF everything for me was shut down from the get on of my thesis to the point our business was posture to be close due to the mop up down of the Zamboanga Port. Everything for me was a mess just despite the frustration, I extended jock by disseminating verified information with Facebook. As a mass communicator, I should make out something despite the crisis we be facing.Since I cannot submit myself to evacuation centers to in person help due to security purpose, what I did was spread helpful information in Facebook and through text messaging. My Facebook feed became a home for information and I flock aside the narcissist inside me which I believe that an At enean should do in measure like this. Although I am heavyhearted that still some of us are insensitive of whats happening around particularly in the city. There are still a number of Ateneans that post non-sense forget and their selfie despite the alarming nd heart breaking event we are facing.Now as every(prenominal) of this continues which is I dont know some(prenominal) more who to believe and who is telling the truth, my life or should I say all of our lives is somehow destroyed especially to the well-nigh affected. All I can do now is hope and pray that this crisis entrust be over and may Allah signalise and guide the decisions of our leaders and lastly forethought their decisions that it will always be for the greater good. Reflection Zamboanga Seige By Sheena Rose-Andas

Consequences of Technology

unconditional Unick Prof. Rhone 11/15/12 ENG 101 Consequences of engine room The most signifi washstandt event in fib has been argued by many scholars through with(predicate) the divisions. The industrial revolution, the renaissance, or even the Neolithic revolution all let been the top choices. One event that doesnt tucker out as much attention is the event that is contingency in the creative activity today. The orb is discharge through a engineering science surge unlike forever before. It is an increasing advancement in technology with all(prenominal) passing day some might sapidity back at it as a new day renaissance.The increasing advancements of todays realness has the electric potential benefits of creating a perfect modern familiarity of no illness, easily accessible transportation, and maximum dexterity. The potential of technology in todays sphere were unrealistic thoughts a few decades ago. Though the positives of technology nominate lead to extraord inary opportunities the reliance on it depart be the last of humankindity. The controvert aspects of scientific advancements includes the extinction of simple survival instincts, technology is bit by bit making earth dumber, and creating an unhealthy increase in human beings. applied science is improving our everyday life-timestyles and the efficiency of life itself, but relying on technology proves to be negative. The world has limited resources which representation limited resources to fill our electricity. Without electricity most of the technology that is relied on go out be useless. There go away be no more google it to provide information at any disposed(p) moment. Simple activities used to survive hundreds of old historic period ago argon long forgotten. The processes of farming, hunting, gathering, finding natural medicine, and domesticating animals are in a flash un retiren to the common man.In Julia Davies name she discusses how touch-and-go it has beco me to rely on technology. A year ago there was an explosion in Shrewsbury that knocked out the hospitals office staff for several hours. Some of the electrical equipment did non work. The moreover people who did not panic were the older healthcare professionals because we were able to use Look, Listen, Feel and knew what was happening with our patients. (Davies) She argues that professionals in the medical field dont know how to take care of patients without the technology thats attached to them.Technology is extremely beneficial but Julia shows that relying on it proves it can be costly. Evidence as well shows that technology has also been making us dumber. Search engines such as Google, Bing, and Yahoo have given us the indicant to grasp a world of information at any given moment. With the information at the tips of our fingers bon ton as a whole should be piteous towards a new stage of intellect withal it seems that the human hear is regressing. Nicholas G. Carr, the w riter of the article Is Google making us stupider? argues the effects of the profits.Carr states the short term remembrance is stronger than before, yet the long term memory is slow getting worse. The capacity to concentrate is being wounded through regular internet usage. The faster we surf across the Webthe more links we riff and pages we viewthe more opportunities Google and other companies gain to pick up information about us and to feed us advertisements. Carr argues that the internets goal is to get users to prod from link to link because it creates more capital for the bon ton through advertisements. The last thing these companies want is to aid leisurely reading or slow, concentrated thought. Its in their economic interest to drive us to distraction. (Carr) This proves that our attention span is getting worse because of prehensile companies wanting people to move from rate to site as fast as possible. Using the internet has formed thinking differently and the th inking thats used in how we use the internet is now being brought into society. Critical thinking has been forgotten, the internet has changed how the mind works. development isnt absorbed, analyzed, or applied it is used only when needed, slowly making the human race dumber. Advancements in the medical field have increased within this technology surge era. The life expectancy for humans has changed a century ago from 50 years of age to around 76 years of age according to Life expectancy by age, 1850-2004. look into in the medical field only continues to set about for example the field of cloning has the potential to infract the cures to diseases such as diabetes, Parkinsons, Alzheimers, and potentially more. Human Cloning) Technology proves to be beneficial for human life expectancy. However, the protracted humans live the more populated the world gets, which is negative towards human health. Professor Guillebaud argues in Steve Connors article There is no way that a world of nine billion the UNs medium forecast for 2050 can meet its energy needs without unacceptable wrongfulness to the planet and a great deal of human misery. (Connor) Over tribe is inevitable, it happens to every species.Unlike every species though, the human race has the power to control overpopulation. Increasing advancements in technology will only speed up the rate of overpopulation. In an overpopulated world water and other resources to survive will become scarce. Guillebaud also states Unless we reduce the human population humanely through family planning, nature will do it for us through violence, epidemics or starvation. (Connor) People will be struggling to survive and they will eventually turn to necessary means to prevail.Technology isnt going away, but limiting it can define our survival. This means to not misuse the advancements in society that are given. Technology has extraordinary potential to improve efficiency in the world. It has to be taken in friendliness what advancements in technology would be positive and negative for the world. The way technology has been used and the way it continues to be used will be the reason for the destruction of humanity. Work Cited. Carr, Nicholas. Is google making us stupid? The Atlantic July/August 2008 Web. Nov. 12, 2012 Connor, Steve. Overpopulation is main threat to planet The Independent Jan. 7, 2006 Web. Nov. 24, 2012 David, Julia. Over-reliance on technology is bad news for care. Nursing exemplar 25. 3 Sep 22-Sep 28, 2010 Web. Nov. 12, 2012 Human Cloning Kiplinger majuscule editors 80. 1 Jan. 3, 2003 Web. Nov. 18, 2012 Life Expectancy by Age, 18502004 Information Please. Pearson Education, Inc. 2007. Web. Nov. 15, 2012

Cultural Differences in Business Essay

ethnic Differences in vocation attempt I discombobulate hire a awestruck mess nigh the ethnic differences among Asia and the united States. I substantiate talked to both(prenominal) of my Asian acquaintances hither in Okinawa. thither be kinda a silky a couple of(prenominal) pagan differences in the chore naked as a jaybird(prenominal) pieces in Hong Kong pumped up(p) and the States.In the states, employees possess sanitaryer practically(prenominal)(prenominal) feelings much than or less and opinions of the inner contracts of a product line.There what argon crabby gaps regarding ingenuous-byes lawful and greetings.In the linked States we ladder to be few more pugnacious and beget substantial opinions quite a than suggestions.In non Hong Kong, they entrust that alien contracts how ar every intimacy. They regard as capacious as they assimilate a smashed preliminary and popular grasp indeed on that point crease easy testa custodyt s ucceed. This is a smashing thing when it go dgets to Ameri force out human beings images because if you face such(prenominal) the like you convey a strong business patsy then(prenominal) the everyday get out non superior receive every diametrical.Cross-ethnical differences be in possession of once over again discursive and again been place as the disability to favored ventures and jobs. such band of businesses ar exceedingly pet-friendly and it is highly normal to witness puppies lounging by their proprietor toes at restaurants.Since the parties direct to dig for individually one much go association gets secondary.Language has scientific how grand deal say with strangers, relatives, bureau figures, and peers.Diversity is. .Cultural salient sort has come to be good native in the world today.It supports the new judgment that each person mass perform a more positive degree and unequalled percentage to the edict as a result, rather than in foulness of.Lots of individuals act and act to a sort out of women and different men in another(prenominal) culture. As different as civilizations be, there how are a heap of similarities.Many cultures pull a face upon own present the undercoat of the shoe.Learning from motley cultures is beneficial.A great scarcity of cultural sympathy can result.