Practical Demonkeeping Chapter 19-20

19 JENNY'S HOUSE Jenny stopped the Toyota behind Travis' Chevy and murdered the lights. â€Å"Well?† Travis said. Jenny stated, â€Å"Would you like to come in?† â€Å"Well.† Travis went about as though he needed to consider it. â€Å"Yes, I'd love to.† â€Å"Give me a moment to go in and make a way, okay?† â€Å"No issue, I have to keep an eye on something in my car.† â€Å"Thanks.† Jenny grinned with alleviation. They escaped the vehicle. Jenny went into the house. Travis inclined toward the entryway of the Chevy and sat tight for her to get inside. At that point he opened up the vehicle entryway and looked inside. Catch was perched on the traveler side, his face stuck in a comic book. He gazed toward Travis and smiled. â€Å"Oh, you're back.† â€Å"Did you play the radio?† â€Å"No way.† â€Å"Good. It's wired into the battery straightforwardly; it'll channel the current.† â€Å"Didn't contact it.† Travis looked at the bag on the secondary lounge. â€Å"Keep an eye on that.† â€Å"You got it.† Travis didn't move. â€Å"Is there something wrong?† â€Å"Well, you're in effect outrageously agreeable.† â€Å"I let you know, I'm only happy to see you having a decent time.† â€Å"You may need to remain the night in the vehicle. You aren't eager, are you?† â€Å"Get a hold, Travis. I just ate last night.† Travis gestured. â€Å"I'll mind you later, so stay here.† Travis shut the vehicle entryway. Catch bounced to his feet and looked out for the dashboard while Travis went into the house. Amusingly, they were both reasoning something very similar: in a short time this will all be finished. Catch hacked and a red spiked heel shot out of his mouth and bobbed off the windshield, scattering the glass with appalling spit. Robert had left his truck a traffic light away from his old house and strolled up, trusting and fearing that he would get Jenny with another man. As he moved toward the house, he saw the old Chevy stopped before her Toyota. He had gone through this scene a hundred times in his psyche. Leave the dim, get her with the person, and yell â€Å"Ah ha!† Then things got scrappy. What was the point? He would not generally like to get her at anything. He needed her to go to the entryway with tears gushing down her cheeks. He needed her to toss her arms around him and beseech him to get back home. He needed to guarantee her that everything would be fine and pardon her for tossing him out. He had run that scene through his brain a hundred times too. After they had intercourse for the third time, things got scrappy. The Chevy was not part of his biased scenes. It resembled a review, a secret. It implied that somebody was in the house with Jenny. Somebody who, in contrast to Robert, had been welcomed. New scenes went through his head: thumping on the entryway, having Jenny answer, checking out her shoulder to see another man sitting on the love seat, and being sent away. He was unable to stand that. It was excessively genuine. Perhaps it wasn't a person by any means. Perhaps it was one of the ladies from the coven who had stopped by to comfort Jenny in her period of scarcity. At that point the fantasy returned to him. He was attached to a seat in the desert once more, watching Jenny have intercourse with another man. The little beast was pushing saltines in his mouth. Robert acknowledged he had been remaining in the road gazing at the house for a few minutes, tormenting himself. Simply be grown-up about it. Go up and thump on the entryway. On the off chance that she is with another person, simply pardon yourself and return later. He felt a hurt ascending in his chest at the idea. No, simply leave. Return to The Breeze's trailer and call her tomorrow. The idea of one more night alone with his awfulness expanded the hurt in his chest. Robert's hesitation had consistently irritated Jenny. Presently it was incapacitating him. â€Å"Just pick a bearing and go, Robert,† she would state. â€Å"It can't be any more regrettable than staying here feeling sorry for yourself.† In any case, it's the main thing I'm acceptable at, he thought. A truck adjusted the corner and began gradually to move up the road. Robert was electrifies vigorously. He rushed to the Chevy and dodged behind it. I'm stowing away before my own home. This is senseless, he thought. All things considered, maybe any individual who passed would realize how little and feeble he was. He would not like to be seen. The truck eased back nearly to a stop as it passed the house, at that point the driver gunned the motor and dashed off. Robert remained in a squat behind the Chevy for a few minutes before he moved. He needed to know. â€Å"Just pick a course and go.† He chose to look in the windows. There were two windows in the front room, around six feet off the ground. Both were old-style, weighted-band types. Jenny had planted geraniums in the window boxes outside. On the off chance that the window boxes were sufficient, he could lift himself up and look through the hole in the closed shades. Keeping an eye on your own better half was unpleasant. It was messy. It was unreasonable. He pondered it for a second, at that point advanced over the yard to the windows. Shabby, filthy, and unreasonable would be upgrades over how he felt now. He got the edge of the window box and tried his weight against it. It held. He pulled himself up, snared his jawline on the window box, and looked through the hole in the draperies. They were on the love seat, confronting endlessly from him: Jenny and some man. For a second he thought Jenny was stripped, at that point he saw the slender lashes of her dark dress. She never wore that dress any longer. It gave out an inappropriate sort of message, she used to state, which means it was excessively provocative. He gazed at them in interest, got by the truth of his dread like a deer trapped in vehicle headlights. The man went to express something to Jenny, and Robert got his profile. It was the person from the bad dream, the person he had found in the Slug that evening. He was unable to look any more. He brought himself down to the ground. A bunch of dismal inquiries beat at him. Who was this person? What was so incredible about this person? What does he have that I don't? To top it all off, to what extent has this been going on? Robert staggered away from the house toward the road. They were sitting in his home, on his lounge chair †the sofa he and Jenny had set aside to purchase. How might she do that? Didn't everything in the house help her to remember their marriage? How might she sit on his lounge chair with some other man? Would they screw in his bed? The throb ascended in his chest at the idea, nearly multiplying him over. He pondered destroying the person's vehicle. It was pretty destroyed as of now, however. Straighten the tires? Break the windshield? Pee in the gas tank? No, at that point he would need to confess to spying. Be that as it may, he needed to accomplish something. Possibly he could discover something in the vehicle that would disclose to him who this home wrecker was. He looked through the Chevy's windows. Not a lot to see: a couple of cheap food coverings, a comic book on the front seat, and a Haliburton bag on the rearward sitting arrangement. Robert remembered it right away. He used to convey his four-by-five camera in a similar model bag. He had sold the camera and given the bag to The Breeze for lease. Was this person a picture taker? One approach to discover. He faltered, his hand on the vehicle entryway handle. Consider the possibility that the person came out while Robert was scavenging through the vehicle. What might he do? Screw it. The person was scavenging through his life, right? Robert attempted the entryway. It was opened. He opened it up and came to in. 20 EFFROM He was a trooper. Like all warriors, in his extra minutes he was considering home and the young lady who sat tight for him there. He sat on a slope watching out over the moving English open country. It was dull, yet his eyes had balanced during his long gatekeeper obligation. He smoked a cigarette and watched the examples the full moon made on the slopes when the low overcast spread separated. He was a kid, only seventeen. He was infatuated with an earthy colored haired, blue-looked at young lady named Amanda. She had down-delicate hair on her thighs that stimulated his palms when he pushed her skirt up around her hips. He could see the pre-winter sun on her thighs, despite the fact that he was gazing over the spring-green slopes of England. The mists opened and let the moon light up the entire open country. The young lady pulled his jeans down around his knees. The channels were just four days away. He took a profound delay the cigarette and hit it out in the grass. He let the smoke out with a murmur. The young lady kissed him hard and wet and pulled him down on her. A shadow showed up on the inaccessible slope, dark and strongly characterized. He watched the shadow undulate over the slopes. It can't be, he thought. They never fly under a full moon. Be that as it may, the overcast spread? He glanced in the sky for the carrier however could see nothing. It was quiet with the exception of the crickets singing sex melodies. The field was still yet for the shadow. He lost the vision of the young lady. Everything was the colossal, stogie formed shadow advancing toward him, quiet as death. He realized he should run, sound the alert, caution his companions, however he just sat, viewing. The shadow obscured the twilight and he shuddered, the aircraft was straightforwardly over him. He could simply hear the motors as it passed. At that point he was washed in moonlight, the shadow behind him. He had endure. The carrier had held its bellyful of death. At that point he heard the blasts start behind him. He turned and watched the flashes and flames out yonder, tuned in to the shouts, as his companions at the base woke to wind up ablaze. He groaned and twisted into a ball, jumping each time a bomb detonated. At that point he woke up. There was no equity; Effrom made certain of it. Not a bit, not one scintilla, not a particle of equity on the planet. In the event that there was equity, would he be tormented by bad dreams from the war? In the event that there was any equity would he lose rest over something that had occurred more than seventy years back? No, equity was a legend, and it had passed on like all fantasies, choked by the mind-boggling truth of experience. Effrom was excessively awkward to mou

Why Businesses Exist :: Business and Management Studies

Why Businesses Exist A business begins when someone conclude that they can acquire a benefit by making a decent or offering a support and offering it to individuals who are eager to pay for it. All Businesses have a similar Main Objective A goal is whatever the business needs to accomplish. The most significant goal is to cause a benefit so as to endure. In the event that a business doesn't make a benefit it will fail and need to closedown. The Public Sector Claimed by the Government: Army, Police, Schools and Hospitals. These are benefits for everybody. The Private Sector Claimed by Private Individuals. Of Benefit to the individuals who own them. Key Terms Business enterprise: implies being set up to face challenges and having the energy and abilities expected to set up and maintain a business or other association. Sole Owner: is a person who maintains a business and is by and by liable for any misfortunes acquired. A Limited Company: is an association, which gives its proprietors or investors assurance so they can lose just the cash that they have just placed in. Advancement: is the presentation of the new thoughts. It might influence items or the manner by which they are made. Creating Relationships: is Architecture with clients, representatives and organizations. Organizations, which take a gander at the manner in which it works with clients, representatives, and different organizations are bound to be effective. Notoriety: A notoriety of an organization can be accomplished through building up a specific picture:  · Low Prices  · Appealing to the wealthy  · Ensuring top quality Upper hand: Is a particular component that makes a business fruitful. A business should cautiously recognize the individuals who will purchase the item to increase an upper hand over others. A Market: Is any area or procedure that brings purchasers and merchants together. Cost: is the measure of cash that is given in return for an item. Products: are anything you purchase which are regular or fabricated for a items. Administrations: include purchasing the aptitudes o someone else. Benefit: is the distinction between the cost and the expense of making a item accessible. Prize Income †Cost = Profit Benefit is the contrast between a firm’s incomes from its exchanging exercises and its all out expenses. It is an award for the hazard and a return on capital contributed. There are 3 variables of creation:  · Land  · Capital  · Labor Business people utilize these 3 variables to make a benefit. Sole Traders Organization Legitimate - No legitimate customs. A legitimate structure with a different character from the individuals who run it.

Is Venting Your Anger a Good Idea

Is Venting Your Anger a Good Idea BPD Living With BPD Print Is Venting Your Anger a Good Idea? By Kristalyn Salters-Pedneault, PhD Kristalyn Salters-Pedneault, PhD, is a clinical psychologist and associate professor of psychology at Eastern Connecticut State University. Learn about our editorial policy Kristalyn Salters-Pedneault, PhD Updated on July 19, 2019 Cultura RM Exclusive/Matelly/Getty Images More in BPD Living With BPD Diagnosis Treatment Related Conditions Many people with borderline personality disorder (BPD) struggle to learn how to vent anger in a way that is healthy and not destructive. If you have struggled with bouts of anger in the past, you may have been encouraged to let it all out. But new research shows that venting may not be as healthy as once thought.   Is Venting Healthy If You Have BPD? Many people with BPD experience intense anger which is sometimes called borderline rage. When this happens to you, you may be struck by such intense emotions you have to lash out, either through yelling, self-harm or other dangerous behaviors. This extreme anger comes in response to perceived interpersonal slights, such as feeling like you failed at something or feeling rejected by a loved one.   If you experience this kind of anger, you may have a hard time controlling it. Past therapists may have advised you to manage your anger by venting or letting off steam. Sometimes this takes the form of relatively benign behaviors like punching a pillow or yelling in the shower. However, sometimes venting can escalate to the point where it causes physical harm to others, yourself or damage to property. The idea that letting off steam can help you manage your anger is not a new one; for many decades mental health professionals thought that this type of venting was essential to anger management. The release of intense emotions was described by healthcare providers as  catharsis. Does Venting Help Manage Anger? Becoming physically aggressive in harmful ways is a bad strategy, one that could lead to serious consequences for yourself and other people. In some cases, it could also cause lasting legal issues for you. But what about the more harmless form of venting, like punching a pillow? Research suggests that letting off steam, even in its most harmless forms, is not an effective way to control your anger. In fact, these supposedly harmless forms of venting have been shown to increase aggressive behavior later on. It actually trains your body to use violence as a way to manage your BPD symptoms. So, while you may temporarily feel better, the act of venting can lead you to have more difficulty with your anger down the road. In the past, therapists have advised people to do things like punch a pillow, but we now know that this isnt always the best advice; its an unsustainable solution with potentially negative consequences. What to Do Instead Rather than venting, talk to your therapist about methods to better cope with your symptoms. There are some techniques that will allow you to manage your anger: Take a break: Give yourself some time away from what angers you. Whether its an ex-partner or a former friend, stepping outside or leaving a party early to avoid them can help prevent the rage from starting in the first place.Exercise:  Take a walk or hit the gym. That will allow you to get out your energy without engaging in any harmful behaviors.Write it down: Jot down how youre feeling in a journal or on your personal blog. By letting out your thoughts and reflecting on your feelings, you can get a better handle on your emotions. If youre looking for more ways to control your emotions and outbursts, try tips for healthy ways to manage your anger. The 7 Best Online Anger Management Classes

What a hero is - 1160 Words

When the word hero is spoken, everyone has different thoughts. Some will think of super powers like flying and saving people from villains; while others have a certain person they know or have heard of that come to mind who have done something to make a difference in the lives of others but who is a hero to you? To answer this question you must first ask yourself what a hero is; what comes to your mind when someone says the word. When I am confronted with these questions I always have the same thoughts; smart, strong will power, and someone who stands up for what they believe is right. Finding someone who possesses these ideal traits is not an easy task to take on, but one person definitely comes to mind. Living in a time where†¦show more content†¦With all these hardships Nelson Mandela’s plans were constantly pushed back farther and farther but he never let this stop him. Every life comes with hardships and with every hardship comes some sort of setback be it big or small. Nelson Mandela said to his people â€Å"do not judge me by my successes, judge me by how many times I fell down and got back up again†, and many times did he fall and get back up (Brainyquote). Nelson Mandela has always had a vision of South Africa where he and his people could live in a community without apartheid. As this vision became clear to him, and he began to act upon his thoughts, the white supremacists began their process on preventing him from achieving his goals. Nelson Mandela was first charge was furthering the aims of communism which ended his work towards an education due to his incardination and somewhat due to his financial status (Williams). This would not hold back his strive for a degree, upon his release he immediately focused on schooling (nelsonmandela). While jail time set him back Nelson Mandela soon continued his long trail to a degree at a University of London; determined to earn some sort of certificate of completion (Williams). As nelson moved up in popularity from his people, and ranked highly infamous to his antagonist, the setbacks got worse. In the minds of others his dreams were crushed when he was charged with high treason to the stateShow MoreRelatedWhat Makes A Hero Or Hero?812 Words   |  4 Pagesthat man may be, in essence, a hero. Because of this stereotypical â€Å"hero†, we do not see the real heroes in life. What really IS a hero or heroine? A hero is what we make of them, although some are undeserving of this title. We make a hero. You, me, society; we all make heroes. We give them this title. He roes are role models, and role models, in my eyes, should possess three very significant qualities. Courage, humbleness, and morality; these form a hero. The classic hero. Ah, he’s brave and bold. HeRead MoreHero Essay : What Makes A Hero A Hero?832 Words   |  4 PagesWhat Makes a Hero a Hero? As I have recently sat down with my grandmother, Mary, I asked her questions about a hero and herself being a hero. My grandmother has such an impact on me in daily life along with being a personal hero to me. She is such an inspiration to me in so many ways that I could never think of taking for granted. I chose my grandmother as my hero because of obstacles I have faced, she was the one to show me the love and support I was in need of at the time. Mary shows theRead MoreWhat Makes A Hero?1168 Words   |  5 PagesSuperman, Abraham Lincoln, Gandhi, what do these three have in common? They’re all heroes. But what truly is a hero? Is it one who wins independence for his country, or one that helps an old lady cross the street? And should we aspire to be like this person? Using Brecht’s Life of Galileo, Beethoven’s Heiligenstadt Testament and Plato’s Allegory of the Cave, we’ll attempt to answer that question. A hero typically in today’s culture is considered as someone who is admired for his courage and otherRead MoreWhat is a Hero? Essay528 Words   |  3 PagesWhat is a Hero? There are many types of heroes (such as the ones in comic books, myths, movies, or even just everyday life heroes) but all of them have perseverance when they’re going through a conflict. Heroes are role models and they’re people that we look up too. They all have unique and special qualities that make one another different from each other. For example policemen battle crime everyday and when they’re overcoming a conflict they have determination, courage and other traits that peopleRead MoreWhat Makes a Hero?1209 Words   |  5 PagesWhat is a Hero? What is a hero? What makes him or her different from everyone else? In Phillip Zimbardo’s article â€Å"What Makes a Hero?† he states that heroes surround us. One in five or 20 percent of people qualify as heroes. Seventy-two percent of people report helping another person in a dangerous emergency. Sixteen percent report whistle blowing on an injustice. Six percent report sacrificing for a non-relative or stranger and fifteen percent report defying an unjust authority (1). AlthoughRead More What Is A Hero? Essay1173 Words   |  5 Pagesthrough their determination and unselfish deeds. However, we may not notice some of society’s other heroes. One such heroic person that comes to my mind is Arnold Schwarzenegger. Many people perceive Arnold as only a blockbuster movie star and not as the hero he truly is. People see the glittery and glamorous fascade of the actor but not the truly heroic acts of the humanitarian. Through his charity work, Arnold has truly touch ed the lives of those who are less fortunate. nbsp;nbsp;nbsp;nbsp;nbsp;ThereRead More What is a Hero? Essay1140 Words   |  5 PagesAccording to the Oxford English Dictionary, a hero is â€Å"a man who exhibits extraordinary bravery, firmness, fortitude, or greatness of soul, in any course of action, or in connection with any pursuit, work, or enterprise; a man admired and venerated for his achievements and noble qualities.† Throughout history there has often been a need for such a human. The epic poem Beowulf narrates the story of a hero named Beowulf who rescues Denmark from several monsters that terrorize it: Grendel and his motherRead MoreWhat Makes A Hero?1541 Words   |  7 Pages What is a hero? Is it superman? Is it your mom or dad? Is it your teacher? There are many people that are considered heroes. Some are just every day people, and some are super-human. Characteristics of heroes vary from era to era. Now people who are just simply a good person are considered a hero. But, back in ancient times to become a hero took much more. It took honesty, wisdom, and in some cases, wealth and superhuman abilities. With time new stories and beliefs are uncovered. In ancientRead MoreWhat Makes A Hero?934 Words   |  4 Pages Most people have theories on what makes a hero a hero. Many authors over time have created books, comics and so forth on heroes and what they feel makes them the hero. There are also the ancient legends and myths from all over the world. So what is it that makes them a hero? Well Joseph Campbell has a pretty good outline of what he thinks should define a hero. A hero is a person who in some way breaks the molds of a normal huma n being. Their wisdom, courage, and durability ect. exceedsRead MoreWhat Makes a Hero1664 Words   |  7 Pages2011 What Makes A Hero What makes a hero? Saving a puppy from a burning building? Or what about being a single mother raising three kids and working two jobs? Both of these could be good candidates for heroes since they both possess the characteristic of strength—not just physical strength, but mental strength. This is one of the most important traits of a hero but it is not the only one. Courage, intelligence, and morality are also necessary in order to really get penciled in to the â€Å"hero† category

World War I The War That Ended All Wars - 1063 Words

World War I Tristan Mahler Mrs. Charf U.S. History December 1 2014 Why World War I World War I known as the war that ended all wars. The war took place between 1914 and 1918. World war one was inevitable, the whole world was at each other’s throats. Most countries were brought into the war because of the alliances they had with each other. World War 1 happened for many reasons but its main causes were Germany beginning militarism, nationalism, countries being drawn into war by their alliances, and the trigger which is the assassination of Archduke Ferdinand. Germany begins militarism was the very first mistake, and many other nations also begin militarism during the year 1914. Other countries began to build up arms out of fear that Germany would attack. It wasn’t that the nations building up their arms caused them to go to war. The generals of each country were constantly pressuring their leaders to demand increases in the security spending. They contributed to the mood of the war. The generals would constantly draw and bring up war plans. They would say these were the solutions to the country’s political problems. The militaristic culture was strongest in Germany, the German army was formed in old Prussia by the Junkers. A small but authoritative group of Prussian aristocrats. Germany elected a parliament, he did almost nothing in the say in military matters. In many ways the German military only acted as a part of the government, instead of them being aShow MoreRelatedThe United States During World War I1506 Words   |  7 PagesThe United States during World War I extended their â€Å"military, economic, and/or political control† to other weaker countries like, Hawaii, Cuba, Guam, and Puerto Rico. They were following the policy of Imperialism.1 Imperialism allows for nations to be able to trade with one another and businesses preferred it because it helped the United States economy. Nationalism is when the people of a nation are under one government and this played a key factor in starting world war one. There was tension betweenRead MoreResults of World War 1772 Words   |  4 PagesWorld War I - Results The First World War â€Å"ended† in 1918 in November, when the Treaty of Versailles was signed to create an armistice. Though this treaty became active on that day for Western Europe, this treaty did not take effect in Eastern Europe until up to mid-1920s. Political, cultural, and social order was changed immensely in Europe, Asia, and Africa, even countries not directly in the war. As a result of the damages from the war, many new countries were formed. Also, millions of peopleRead MoreWar I And World War II1392 Words   |  6 Pagesdescription of the mindset during both World War 1 and World War 2. There are many aspects of war that can be compared and contrasted. I am going to compare and contrast World War 1 and World War 2. 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The Spanish-American war occurred in 1898 between the United States and Spain where the U. S. interrupted Cuba’s struggle for independence which resulted into the Philippine revolution. Some historians explain that the war publicized by the Hearst and Pulitzer newspapers which blame the sinking of the ship U. S. Maine on Spain, which had been sent to protect America’s interest and Americans living there. There was rising pressure on Congress to push the

How does Ridley Scott create and destroy gender stereotypes in Thelma and Louise Free Essays

In the 1991 film Thelma and Louise, the director Ridley Scott creates and destroys gender stereotypes successfully of that period in time and helps us to believe that the characters portrayed by Susan Surandon and Geena Davis were real. Here are a few examples of gender stereotypes: In the first scene of the movie, Thelma was in her kitchen wearing a frilly and flowery night gown and the phone was ringing and she called to her husband, â€Å"I’ll get it.† This shows that Thelma is a house slave and Ridley Scott dipicts this as he films Thelma on a low angle and when Thelma’s husband Darryl walks into the kitchen, he is filmed on a low angle to make him seem a lot bigger and fiercer than he really is. We will write a custom essay sample on How does Ridley Scott create and destroy gender stereotypes in Thelma and Louise? or any similar topic only for you Order Now He is shown as already in his work uniform and this tells us that Thelma is a housewife and her entire day is pent locked up inside the house preforming chores. When Thelma is just about to ask Darryl if she can go for the weekend on a roadtrip with Louise, she got scared and ended up asking him if he wanted anything special for dinner that night. To which Darryl simply replies, â€Å"Thelma, I don’t give fuck what we have for dinner tonight. I might not even make it home from work tonight.† This shows that Darryl is an unfaithful husband and is having an affair. Thelma suspects this and states, â€Å"it’s funny how many people want to buy a carpet on a Friday night. You would have thought they would have forgotten about it for the weekend.† To that Darryl replies, â€Å"well it’s a good thing your no regional manager then, and I am.† He then swings his keys around on his finger as if to say, I am better than you, you are worthless. The second scene I am going to describe is where Louise is at work in the diner that she work at and she is depicted as having her hair tied up in a neat bun, showing her as a couped up child who just wants to break free of her immaginary prison. She is wearing her usual uniform of a long white dress and apron. There is a pan shot of her at eye level moving across the diner serving people as she goes. This shows that women in this time cannot have highly paid jobs and they must either be a housewife or work in a dead end, minimum wage job where she does not get the respect that she deserves. The next scene I am going to describe is the scene in which Thelma is packing fro her road trip with Louise after Darryl had left to go to work. She had never had as much fun before and had never packed like it. She didn’t know what she should take, so she just topples the contents of her drawers into many suitcases, she then looks in her bedside cabinet and takes out her earings and finds a revolver that Darryl had given her to protect herslef when he was a t work. Thelma takes the revolver out and holds it with her thumb and forefinger. This creates a gender stereotype as it shows that women aren’t meant to hold guns. Thelma then drops it into one of her suitcases as if she didn’t know the full capabilities of what damage the small silver thing in her hands could do. Later on in the movie, Thelma brings out the revlver when she is in Louise’s car and turns to Louise and asks if Louise can take care of it. Louise replies shocked, â€Å"goddamnit Thelma, why in the hell did you bring that?† To which Thelma replies, â€Å"snakes, bears, psycho killers. You never know what could happen, look can you take it? I don’t even know how to use it.† â€Å"Well put it in my purse then,† Louise replies. This shows that Louise is a much stronger woman than Thelma and she had become tough after what happened to her in Texas. The last scene I am going to describe which creates gender stereotypes is the scene in the bar where Thelma and Louise are sitting at a table in a Western bar and the waitress walks up to them and asks if they would like andything to drink. The waitress is in the same conditions that Louise was in at the start of the movie in the diner. Louise states that she doesn’t wnat any drinks, but Thelma orders two alcholholic drinks and the waitress nods and walks away. Louise looks surprised, â€Å"Thelma! I’ve never seen you like this, you’re always so sedate!† â€Å"I’ve had it up to my ass with sedate!† Thelma smiles, â€Å"I just want to let my hair down.† This shows that Thelma is acting out of character and just wants to have fun. This is where the well dressed, well mannered, charming Harlan walks over to them. He is filmed on a very low angle. â€Å"Well hello ladies,† he says, â€Å"isn’t this place a bit rough for bauties like you?† Thelma is flattered by the attention that Harlan gives her, but Louise doesn’t buy it. She realises what Harlan is quickly as it shows a man just like him flattered her back in Texas. â€Å"Oh I’m sorry,† Louise states, â€Å"we’re having private convorsation here.† â€Å"Oh right okay ladies,† Harlan says, visabaly dissapointed. Thelma holds him back, â€Å"no it’s okay. He can stay.† The waitress returns and gives Thelma her drinks, â€Å"you’re not bothering these poor girls are you Harlan?† â€Å"Nah,† Harlan replies, â€Å"I’m just being friendly.† â€Å"Your name’s Harlan?† Thelma asks, â€Å"I had an uncle named Harlan.† Thelma then goes to dance with Harlan and he spins her aorund many times making her very dizzy and in need of fresh air. He is clearly taking advantage of her. Thelma states she need fresh air and Harlan takes her outside. Harlan then starts to take advantage of Thelma and then he says that he wont hurt her. This shows us that Harlan has no regard for Thelma’s thoughts or feelings. Louise then bursts out of the bar holding the revolver that Thelma had put in her bag earlier and aims it at Harlan. Harlan just laughs and tells Louise to â€Å"suck his dick.† Louise then shoots Harlan in cold blood. This is the first real time that we get to see the gender stereotypes destroyed as women aren’t supposed to show violence. Harlan’s dead body is then shown at a high angle to show that his power and scariness from before had been torn away in an instant. Here is the second point of Ridley Scott’s use of destroying gender stereotypes. This is the scene where Thelma and Louise meet up with young hustler JD and he asks for a ride. They drive with him and drop him off in the middle of a rainy city. Later on in the evening, JD knocks on Thelma’s motel door and the two make passionate love. Then in the morning Thelma goes to see Louise at a cafà ¯Ã‚ ¿Ã‚ ½ and they talk and Louise realises that JD must’ve stolen their money that Jimmy had given to Louise, the two women run back to their motel room frantically to find it ransacked and the money stolen. Louise collapses into tears as her last piece of energy and moral sense of dignity are shattered. Thelma then takes control and is filmed on a high angle to signify that know she is taking control. The old Thelma is gone and the new Thelma has taken her place. The new Thelma is the sort of Thelma who will do anything to survive. The next scene I am going to describe is the scene where Thelma and Louise stop to get a cup of coffee and when the two of them get back into the car, Thelma states that she is going to go and get some gum, so she takes Louise’s handbag with the pistol still in it and goes into the nearest convenience store. When Thelma goes into the store, she pulls out the revolver and shouts to everyone, â€Å"good morning ladies and gentlemen, this is a robbery, now if nobody loses their head then no one will lose their head.† She then steals all the money from the till and runs out of the store shouting to Louise, â€Å"drive Louise! Go† â€Å"A store? You robbed a store?† Louise asks pedantically. â€Å"Well we needed the money didn’t we? Now drive!† Thelma replies. This breaks the stereotype that all women must abide by the law at all times. The second to last scene I am going to describe is the scene where Thelma and Louise are driving through the desert when a police officer flags them down for speeding. The officer then take Louise back to his car and starts calling his colleagues. Louise asks if she is in trouble and the officer nods, big trouble. Thelma then appears at the officer’s window and smiles at him and starts to flirt. The officer asks sternly for Thelma to return to her car, but Thelma produces the revolver and points it at the officer’s head and demands for Louise to take his gun and shoot out the radio which she does, but then Thelma corrects her and says the police radio. This shows that although this is a dark film, Ridley Scott adds in a piece of comic relief. Thelma and Louise lead the distressed police officer to the trunk of his vehicle where Thelma shoots two air holes into the trunk and instructs the officer to get inside at which point the officer bursts into tears and Thelma asks him if he had a wife to which the officer nods. Thelma smiles and tells him, â€Å"you be nice to her. My husband wasn’t nice to me and look how I ended up.† On which note, Thelma slams the lid shut upon the officer. The last scene I am describing is the scene at the end of the movie where Thelma and Louise have been evading the police successfully for a fair few minutes which breaks the stereotype that women are bad drivers, but they eventually get captured on the edge of the Grand Canyon. Behind Louise’s convertible is about twenty police cars, a helicopter and at least forty heavily armed officers. The helicopter lands and a few suited FBI Agents get out, one of which is the one man in the forces who believes Thelma and Louise’s story. Thelma turns to Louise and tells her she can’t go back to the way she used to be as she had loved the experience. Louise nods and turns on the engines despite the officer’s warnings of opening fire if they did not give themselves up to be arrested. Louise slams the car forward toward the edge of the Grand Canyon. The only FBI Agent that believes them sprints after them so that the police will not fire. He shouts trying to stop them, but Thelma and Louise are adamant. Their car flies off of the edge of the Grand Canyon and the screen flashes with images of the past two days adventure. In conclusion I believe that Ridley Scott provides the audience with a thrilling and extremely realistic insight into the sexism and gender stereotyping that was around in America at the time of the film’s release. I believe that this film teaches a lesson to all American men who were racist at the point of the film’s release. How to cite How does Ridley Scott create and destroy gender stereotypes in Thelma and Louise?, Papers

Winged Genius is an astonishing work of art from t Essays

Winged Genius is an astonishing work of art from the Mesopotamian palace of Ashurnasirpal II created between 883 -859 B.C.E . It was not uncommon for a king ruling during the Ancient Near-Eastern period to have large pieces of art created on their behalf, as they believed it showed their power and strength when carved larger than life . Made out of limestone and cut into three parts , Winged Genius has dimensions of approximately 72 inches tall by 40 inches wide . Overall, i t is a carving of the profile of a winged man with a beard, and shoulder length , tightly braided hair, holding a sma ll basket or pot in his left hand while his right hand is open and held in the air as if waving to someone. On his wrists are bracelets with one flower in the middle, making it look comparable to a watch. He wears a long robe lined with tassels and thin-strapped sandals o n hi s feet similar to what Jesus a n d his contemporaries would wear. The placard next to the relief carving states: This panel was taken from th e remains of an imperial palace at Nimrud, the capital of the Assyrian empire, now located in modern Iraq. The walls of the palace, constructed by Ashurnasirpal II (883-859), were decorated with stone panels carved in low relief, narrating hi s hunting and military exploits. This genius, or demi-god, was part of a grouping of winged creatures facing a stylized tree, a scene repeated numerous times in the palace. They appear to be performing fertility rites associated with the date palm, a tree held sacred by the Assyrians because it provides food, drink, wood, and shelter. The cuneiform text which covers the surface is part of a standard inscription that extol the victories and greatness of Ashurnasirpal and describes the building of his palace. Traces remain of the bright colors with which the panel was painted, increasing its visual impact. The palace at Nimrud was excavated between 1 845 and 1851 A.D. by Sir Austin H . Layard working on behalf of the British Museum. This panel was among a number of palace scul p tures acquired at that time for a private and public collections in the United States, making them the first examples of ancient Mesopotamian art to reach the wester n world. ( MIA placard) From what we have learned in the textbook and class, I believe that Winged Genius came out of the culture of Assyria. In Gardner Kleiner , ( 2013 , pg. 46) , we notice that there is a painting on glazed brick (f igure 2-2 1) that was created during of the same timeframe. Another created work is 2-22 Gardner Kleiner , (2013, pg. 47 ) , which is a horizontal relief piece from the same time and culture. The top section of the relief sculpture contains many tiny details a person does not notice u ntil star ing at it for a very long time. At first you just see a human head, a large hand and beard and a shoulder. The relief is huge and we can notice earrings and a small type of headpiece when studying further. The largeness of the body tells the people that this subject larger than life and cannot forget that this is a demi-god. The large hand can remind people that the demi-gods are here with them and can either help or harm them at the demi-gods whim. The earrings and headpiece remind the people of the richness and prosperity of their calling as a demi-god. The long, flowing braided hair and decorated beard remind the people of the prosperity and higher station of a demi-god, so u nlike the working class culture that slaves away for the king and his palace. The large empty eyes remind the king and his people that the demi-god is all seeing and can contr ol them at his whim. The flowered bracelets are another way to show the king and his subjects the overindulgence of the demi-god. The bracelets are unneeded by common folk, but remind them of the demi-gods need to be showered with gifts

International real estate market essay

International real estate market essay International real estate market essay International real estate market essayInternational real estate market is one of the most attractive investment options for SMEs. Although the market itself is perceived as one of the most secure ones, there are both risks and opportunities associated with emerging real estate markets. Emerging markets became more attractive for SMEs after the U.S. housing crisis of 2007-2008 (Howard, 2010). However, taking into account higher risks associated with marketing strategies and policies in emerging countries, the optimal strategy for SMEs is to diversify their real estate investments or to purchase real estate and resell it in the short- or medium-run period. It should be noted that many countries have favorable regulations aimed at boosting the housing market and allow SMEs to purchase and sell out property.Most buyers of real estate belong to middle and upper class, and the proportion of upper class buyers recently increased due to the recession which took place in 2008 while middle-cl ass buyers chose to save instead of investing (Howard, 2010). The major number of real estate purchases is made by home owners for personal use; the remaining purchases are made for SMEs and wealthy individuals for resale and sometimes for rental purposes. There is also a category of buyers who belong to emerging economies but tend to invest into real estate in developed countries.European real estate market is largely characterized by purchases for local purposes, while real estate customers in Russia, China and in the Middle East are very active and tend to purchase property abroad (Van der Borght, 2012). European SMEs prefer to purchase real estate in Spain, Greece, Cyprus and in French Riviera. The criteria for choosing real estate among European SMEs are taxation, recreational opportunity and safe environment. In general, the preferences of European buyers from different countries such as Germany, Norway, Sweden, the UK, Finland and Netherlands are similar.Russian SMEs seek for expensive real estate purchases the number of affluent Russian customers searching for luxury real estate above â‚ ¬2 million increased to 8% (Van der Borght, 2012). Russian customers focus on the following countries: Bulgaria, Spain, Turkey, Montenegro, Italy, Cyprus, Germany, Greece and France (Van der Borght, 2012). Key psychological factors driving the purchases of Russian buyers are the prestige of foreign possessions and the need to secure investments against political and economic instability. The criteria for purchasing real estate for Russian SMEs include proximity to well-developed European countries, personal experience and opportunities for tourists.Chinese SMEs also demonstrate strong interest to real estate overseas, primarily due to heavy regulations and control measures used for the internal real estate market. Statistics shows that 30% of Chinese home buyers started looking for overseas real estate (Dunning, 2008). In particular, the investors from mainland Chi na and Hong Kong constitute 10.8% of real estate seekers in the United States (Garvin Artermis, 2009). Chinese SMEs also actively purchase real estate in Australia and Europe and are most attracted to countries with large Chinese diaspora. Chinese buyers pay a lot of attention to educational opportunities for their children, and view investments into real estate overseas as a means of securing their future and the future of their relatives in the case of problems in China.Middle Eastern real estate buyers express notable interest to the European market and moderate interest to the real estate market in the United States. Middle Eastern SMEs prefer purchasing premium segment real estate objects. Customers from Middle East pay significant attention to the UK real estate market, primarily due to the historical links created between Middle Eastern countries and the UK in the colonial era. For Middle Eastern buyers, the prestige of the location and the neighborhood are very important re al estate characteristics.Regarding Cypruss position in real estate market, it is possible to assess it as emerging. The country is now challenging real estate positions of such market leaders as Spain and Greece. While Spain is viewed as a more expensive investment location and Greece is perceived as the economically unstable market, Cyprus emerges as an important real estate player with reasonable real estate prices and sufficient level of economic development. Although Cyprus is located relatively far from key European countries, its integration with the EU made real estate market more attractive for European buyers. Russian buyers also demonstrate notable interest to real estate in Cyprus. Further improvement of economic situation and social stability combined with loyal fiscal policies and encouragement of foreign investment will attract more international customers to Cyprus and fuel real estate market.

3 Major Ways Slaves Showed Resistance to Slavery

3 Major Ways Slaves Showed Resistance to Slavery Slaves in the United States used a number of measures to show resistance to slavery. These methods arose after the first slaves arrived in North America in 1619. Slavery created an economic system that persisted until 1865 when the Thirteenth Amendment abolished the practice. But before slavery was abolished, slaves had three available methods to resist slavery: they could rebel against slaveholders, they could run away, or they could perform small, daily acts of resistance, such as slowing down work. Rebellions The Stono Rebellion in 1739, Gabriel Prossers conspiracy in 1800, Denmark Veseys plot in 1822, and Nat Turners Rebellion in 1831 are the most prominent slave revolts in American history. But only the Stono Rebellion and Nat Turners Rebellion achieved any success. White Southerners managed to derail the other planned rebellions before any attack could take place. Many slave owners in the United States became anxious in the wake of the successful slave revolt in Saint-Domingue (now known as Haiti), which  brought independence  to the  colony  in 1804 after years of conflict with French, Spanish, and British military expeditions.  Slaves in the American colonies (later the United States), knew that mounting a rebellion was extremely difficult. Whites greatly outnumbered slaves. And even in states like South Carolina, where whites made up only 47 percent of the  population by 1810, slaves could not take on whites armed with guns.   Importing Africans to the United States to be sold into slavery ended in 1808. Slave owners had to rely on a natural increase in the slave population to increase their labor force. This meant breeding slaves, and many slaves feared that their children, siblings, and other relatives would suffer the consequences if they rebelled.   Runaway Slaves Running away was another form of resistance. Slaves who ran away most often did so for a short period of time. These runaway slaves might hide in a nearby forest or visit a relative or spouse on another plantation. They did so to escape a harsh punishment that had been threatened, to obtain relief from a heavy workload, or just to escape the drudgery of everyday life under slavery. Others were able to run away and escape slavery permanently. Some escaped and hid, forming Maroon communities in nearby forests and swamps. When northern states began to abolish slavery after the Revolutionary War, the north came to symbolize freedom for many slaves, who spread the word that following the North Star could lead to freedom. Sometimes, these instructions were even spread musically, hidden in the words of spirituals. For instance, the spiritual Follow the Drinking Gourd made reference to the Big Dipper and the North Star and was likely used to guide slaves north to Canada. The Risks of Fleeing Running away was difficult. Slaves had to leave family members behind and risk harsh punishment or even death if caught. Many of the successful runaways only triumphed after multiple attempts. More slaves escaped from the upper south than from the lower south, as they were nearer to the north and thus nearer to freedom. Young men had the easiest time of running away because they were more likely to be sold away from their families, including their children. Young men were also sometimes hired out to other plantations or sent on errands, so they could more easily come up with a cover story for being on their own. A network of sympathetic individuals who helped slaves escape to the north emerged by the 19th century. This network earned the name the Underground Railroad in the 1830s. Harriet Tubman is the best known conductor of the Underground Railroad, helping over 200 other slaves escape after she herself reached freedom in 1849. But most runaway slaves were on their own, especially while they were still in the south. Runaway slaves would often choose holidays or days off to give them extra lead time before being missed in the fields or at work. Many fled on foot, coming up with ways to throw off dogs in pursuit, such as using pepper to disguise their scents. Some stole horses or even stowed away on ships to escape slavery. Historians are unsure of how many slaves permanently escaped. An estimated 100,000 fled to freedom over the course of the 19th century, according to James A. Banks in March Toward Freedom: A History of Black Americans. Slaves Retaliate With Ordinary Acts of Resistance The most common form of slave resistance was day-to-day resistance or small acts of rebellion. This form of resistance included sabotage, such as breaking tools or setting fire to buildings. Striking out at a slave owners property was a way to strike at the man himself, albeit indirectly. Other methods of day-to-day resistance were feigning illness, playing dumb, or slowing down work. Both men and women faked being ill to gain relief from their harsh working conditions. Women may have been able to feign illness more easily, as they were expected to provide their owners with children. At least some owners would have wanted to protect the childbearing capacity of their female slaves. Some slaves could also play on their masters and mistresses prejudices by appearing to not understand instructions. When possible, slaves could also decrease their pace of work. Women more often worked in the household and could sometimes use their position to undermine their masters. Historian Deborah Gray White tells of the case of a slave woman who was executed in 1755 in Charleston, S.C., for poisoning her master. White also argues that women may have resisted against a special burden under slavery, that of providing slaveholders with more slaves by bearing children. She speculates that women may have used birth control or abortion to keep their children out of slavery. While this cannot be known for certain, White points out that many slave owners were convinced that female slaves had ways of preventing pregnancy. Throughout the history of American slavery, Africans and African-Americans resisted whenever possible. The odds against slaves succeeding in a rebellion or in escaping permanently were so overwhelming that most slaves resisted the only way they could - through individual actions. But slaves also resisted the system of slavery through the formation of a distinctive culture and through their religious beliefs, which kept hope alive in the face of such severe persecution. Sources Banks, James A. March Toward Freedom: A History of Black Americans. Paperback, 2nd edition, Fearon Publishers,1974. Ford, Lacy K. Deliver Us From Evil: The Slavery Question in the Old South. 1st Edition, Oxford University Press, August 15, 2009. Franklin, John Hope. Runaway Slaves: Rebels on the Plantation. Loren Schweninger, Oxford University Press, July 20, 2000. Raboteau, Albert J. Slave Religion: The Invisible Institution in the Antebellum South. Paperback, Updated edition, Oxford University Press, October 7, 2004. White, Deborah Gray. â€Å"Let My People Go: 1804-1860† The Young Oxford History of African Americans, Hardcover, 1 edition, Oxford University Press, September 12, 1996.

Passive Heating Essay Example | Topics and Well Written Essays - 3000 words

Passive Heating - Essay Example The analysis comprises of examples from both the KYOTOi protocol of the United Nations and the Energy performance of Buildings Directive of the European Union that is being enforced across the west for energy efficiency and savings of the conventional sources of energy. The analysis predominantly focuses upon the energy efficiency of the buildings using the passive heating strategy. Nuclear sources also cater the energy requirements in certain cases where it generates the electricity required for the generation of electricity. In all the aforementioned cases, the pollution into the atmosphere due to heating is enormous indirectly because the generation of electricity in case of electric heaters causes pollution of the atmosphere if not in the immediate vicinity of the users whilst the gas heating systems cause the pollution in the vicinity itself. The atmosphere being a single entity, the greenhouse effect spreads across the entire spread of the atmosphere irrespective of the location of emission of Carbon Monoxide and Carbon di-oxide gases. David Taylor (2005)ii further argues that the main reason for the increase in the energy consumption by the domestic buildings is the inability or the reluctance of the people to utilise the energy of sunlight and natural means for cooling during the summer. This is also due to the fact that the increase in the density of the buildings in the urban areas like the busy areas of London where the density of the domestic buildings has increased by more than 10 times in the six years as argued by W. L. Lee and F. W. H. Yik (2005)iii. The study by the authors have proved that the population density increase in the urban areas has accompanied with the steep density of the buildings thus presenting a congested environment for the energy management and the use of natural resources of energy for cooling during the summer. Furthermore, the use of each kWh (kilo Watt hour) of energy Douglas Lancashire (2005) has identified the emission rations as described below 1.5 lb (680 grams) of Carbon Di-Oxide 0.2 ounce (5.67 grams) ounces of Sulphur Di-oxide and 0.08 ounces (2.27 grams) of nitrogen oxides The information presented above reveals that through saving every kWh of electricity alone, a building could contribute to the reduction of emission and pollution of the atmosphere. Even though the pollution is not caused at the surroundings of the building, the fact that the consumption of energy is directly proportional to the emission of gases and pollution by the power generation plant justifies the need for energy efficiency in the buildings. The aforementioned makes it clear that the costs involved with the energy consumption and the maintenance of the heating systems is a critical element both to the homeowners, which is a direct cost whilst the indirect cost is mainly the loss of non-renewable sources of energy and atmospheric pollution. In order to overcome this problem, passive heating is proposed by researchers as an effective alternative. Passive heating as argued by Raymond Ward (2005) is the method of using the non-conventional sources of energy like the solar energy to generate the energy required to cater the heating requirements in domestic buildings. Another source of energy is the wind energy that is in abundance especially in the UK where the sunlight is treated as a rare commodity with only short spells of summer every year. Alongside, passive heating can

Describe and evaluate the multi-store model of memory Essay

Describe and evaluate the multi-store model of memory - Essay Example This essay will focus on the â€Å"multi-store model of memory developed by Richard Atkinson and Richard Shiffrin in the year 1968† (Kipp & Shaffer, pp. 300, 2009). Multi-store memory model revolves around three basic types of memories, namely, â€Å"sensory memory, short-term memory and long-term memory† (Nash & Bernstein, pp. 209, 2006). Therefore, it is essential to understand the types in detail. Many a times, one realizes that they have seen an object and have a picture of it in their mind. However, within a fraction of a second, it fades away. Other times, one asks another to repeat a certain thing just to realize they know it already. These instances depict the sensory memory. According to an experiment, when subjects are asked to report all the three letters they can see in a brief flash of a letter array, they usually can report only four of five letters. The number of reported letters is independent of the number of displayed letters. However, according to demonstration of a partial-report procedure, subjects are able to store a dozen or more items in a very short-term memory" (Gegenfurtner & Sperling, pp. 1, 1999). Another type of memory is the short-term memory. Whenever a person is thinking about a certain situation, their short-term memory begins its functioning. At any one time, the short-term memory may get its input from the external environment i.e. the surroundings of a person or from the long-term memory of that individual. An example of the former case may be a thought process of a conversation a person is into while the example of the latter may be the thoughts occurring about an event that happened in the distant past, which may be stored in the long-term memory. The short-term memory of any individual may show increment by recoding information. â€Å"Miller (1956) summarized evidence that people can remember about seven chunks in short-term

Same Sex Marriage Controversy in the United States Essays -- gay marri

In a very real sense, it is reasonable to argue that the government should have no say at all in the processes of marriage, or decide which adults may or may not legally marry. State and federal governments play a role, of course, in that marriage is a civil union, and provides benefits and legal protections for the couple. Historically, marriage serves the interests of the society by promoting stability and future generations of citizens, and governments usually act in ways to promote this very vital element. At the same time, it is highly questionable whether this governmental authority should have any voice in who chooses to marry, provided those involved are adults and wish to do so. This is in fact, at the heart of the same-sex marriage controversy still gripping the United States. Gay men and women, eager to gain the legal benefits and cultural recognition of legal marriage, demand it as a right, while others assert that marriage itself is defined as a union between only a man and a woman. Meanwhile, states today vary and alter individual state laws, as further debate rages over whether legally permitting same-sex marriage is a federal or state prerogative. As the following will examine and support, same-sex marriage should be at best only a state concern, and the federal government should play no part beyond upholding states’ rights in the matter. This is essentially because governmental jurisdiction over the right to marry should be at a minimum, given the right to marry as not defined by gender within the Constitution or any other foundational law. Moreover, as states increasingly legalize same-sex marriage, a process occurs that is purely democratic in principle; the people are by degrees influencing the nation as ... ...of Chicago Press, 2013. Print. Meezan, W., & Rauch, J. â€Å"Gay Marriage, Same-Sex Parenting, and America's Children." The Future of Children 15.2 (2005): 97-113. Print. Mello, M. Legalizing Gay Marriage: Vermont and The National Debate. Philadelphia: Temple University Press, 2008. Print. Murray, M. â€Å"Marriage rights and parental rights: Parents, the state, and proposition 8.† Stan. JCR & CL 5 (2009): 357-407. Web. Rimmerman, C. A., & Wilcox, C. The Politics of Same-Sex Marriage. Chicago: University of Chicago Press, 2007. Print. Schram, S. After Welfare: The Culture of Postindustrial Social Policy. New York: NYU Press, 2000. Print. Strasser, M. P. On Same-sex Marriage, Civil Unions, and the Rule of Law: Constitutional Interpretation at the Crossroads. Westport: Greenwood Publishing, 2008. Print.

Personal Growth and Development

Psychology 101 TuThu 3:30-4:45 The concept of personal development has been an important factor that shapes the characters we develop, and the overall person we become. Research suggests that many of the values and traits we possess stem from both genetics and the environment. In terms of genetics, hereditary traits are passed down from the mother and father, which play a huge role in personal development, but research and personal experience also suggest that the impact of the environment parallels the importance of genetics.Environmental factors have been proven to significantly impact the growth and development of an individual. The home the individual is raised in, the people they are surrounded by and the individual’s role model all play an important role in the molding of the individual. Such is the reason why cultural relativism impacts individuals, and guides the way they perform tasks, execute decisions, and their way of thought. The American culture, for example, has slowed down the transition of adolescence into adulthood due to cultural ideals, and the greater need to pursue a higher education in order to compete successfully in the country.Research by the 1958 National Child Development Study, and the 1970 British Cohort Study support these statements, and have shown that we have reached a generation in which adolescents are transitioning into adulthood more slowly, yet more psychological stress is placed on them, and reports of depression have raised since the 50s. Personal growth and development traces back to genetics. Each individual is born with a specific set of genes depending on the mother and father.Genetic traits such as weight, height, appearance, and in some cases, personality, are passed down the hereditary line, and predisposes individuals to certain traits and qualities. The health of the individual is also largely influenced by the care taken by the mother while the fetus was developing within the womb. Proper nutrition, and avoiding neglectful habits such as drinking and smoking, all help to shape the health of the individual from the time they are born. The environment we are raised in is also another factor in the shape and development of an individual.Take for instance the study that examined how environment affects individuals such as siblings, twins, and kids not related by blood, but raised in the same environment. It is shown that even twins who exited the womb during the same birth can come out profoundly different in their adulthood if they were raised in a different environment from their twin. The food that we eat, the habits that we employ, and the overall lifestyle of the individual play an important role as well as genetics.Two similar children who are raised in different environments may possess the same genetic traits, but overall can be distinguished by the environment they were raised in. Cultural relativism plays a role as well in the well-being of the individual. Being raised in Ame rica sets a different standard for living vs. being born elsewhere. In America, individuals are taught to be creative and unique, rather than conform to group ideals. It is in this culture that children are taught to employ creative ideas, and to break away from the grain.In other cultures, such as those in China, kids are raised to follow the grain, and rather than question elders and peers, are taught to accept what is given and told to them. With that in mind, the transition into adulthood has also slowed down due to various factors such as cultural acceptance, and the need to pursue a higher education in order to be more competitive in the job market. As the years pass, so does the standard of education raise as more occupations open up to individuals with special skills and knowledge achieved through a higher education in college.Although this slower transition into adulthood and independence may seem less stressful for individuals, studies from the British Cohort Study show th at individuals in the 70s vs. the 50s reported more cases of depression, and stress due to factors such as economic recessions which hindered the job market availability. This generation is especially pressed to reach higher educational goals as the market for unskilled labor reduces as the market for skilled labor increases hindering the transition into adulthood and independence.In conclusion, personal development and growth are influenced by several factors such as genetics, environment, cultural relativism. These factors shape an individual in specific ways. Genetics passed on influence one’s height, personality, and predispositional thinking that affect the person in everyday situations. Proper health from the time the embryo is implanted is necessary for a healthy baby. The environment also plays a role in the shaping of the individual. The home one was raised in, the nutrition, and overall lifestyle impact the health and behavior of a person.Cultural relativism also pl ays a role, as culture follows an individual around regardless of location, and influences what one finds acceptable, and follows due to social norms. Because of the need for a higher education in today’s job market, a slower transition into adulthood can be traced to the need for more schooling, and a slower transition to independence.References Spiro, Melford E. (2001). Cultural determinism, cultural relativism, and the comparative study of psychopathology. Ethos. Berkeley:. Vol. 29, Iss. 2; pg. 218, 17 pgs. Huffman, Karen (2010). Life Span Development I. John Wiley and Sons, Psychology in Action 314-347. Personal Growth and Development Personal Development and Growth Zoheb Osmani Psychology 101 TuThu 3:30-4:45 The concept of personal development has been an important factor that shapes the characters we develop, and the overall person we become. Research suggests that many of the values and traits we possess stem from both genetics and the environment. In terms of genetics, hereditary traits are passed down from the mother and father, which play a huge role in personal development, but research and personal experience also suggest that the impact of the environment parallels the importance of genetics.Environmental factors have been proven to significantly impact the growth and development of an individual. The home the individual is raised in, the people they are surrounded by and the individual’s role model all play an important role in the molding of the individual. Such is the reason why cultural relativism impacts individuals, and guides the way they perform tasks, execute decisions, and their way of th ought. The American culture, for example, has slowed down the transition of adolescence into adulthood due to cultural ideals, and the greater need to pursue a higher education in order to compete successfully in the country.Research by the 1958 National Child Development Study, and the 1970 British Cohort Study support these statements, and have shown that we have reached a generation in which adolescents are transitioning into adulthood more slowly, yet more psychological stress is placed on them, and reports of depression have raised since the 50s. Personal growth and development traces back to genetics. Each individual is born with a specific set of genes depending on the mother and father.Genetic traits such as weight, height, appearance, and in some cases, personality, are passed down the hereditary line, and predisposes individuals to certain traits and qualities. The health of the individual is also largely influenced by the care taken by the mother while the fetus was devel oping within the womb. Proper nutrition, and avoiding neglectful habits such as drinking and smoking, all help to shape the health of the individual from the time they are born. The environment we are raised in is also another factor in the shape and development of an individual.Take for instance the study that examined how environment affects individuals such as siblings, twins, and kids not related by blood, but raised in the same environment. It is shown that even twins who exited the womb during the same birth can come out profoundly different in their adulthood if they were raised in a different environment from their twin. The food that we eat, the habits that we employ, and the overall lifestyle of the individual play an important role as well as genetics.Two similar children who are raised in different environments may possess the same genetic traits, but overall can be distinguished by the environment they were raised in. Cultural relativism plays a role as well in the well -being of the individual. Being raised in America sets a different standard for living vs. being born elsewhere. In America, individuals are taught to be creative and unique, rather than conform to group ideals. It is in this culture that children are taught to employ creative ideas, and to break away from the grain.In other cultures, such as those in China, kids are raised to follow the grain, and rather than question elders and peers, are taught to accept what is given and told to them. With that in mind, the transition into adulthood has also slowed down due to various factors such as cultural acceptance, and the need to pursue a higher education in order to be more competitive in the job market. As the years pass, so does the standard of education raise as more occupations open up to individuals with special skills and knowledge achieved through a higher education in college.Although this slower transition into adulthood and independence may seem less stressful for individuals, studies from the British Cohort Study show that individuals in the 70s vs. the 50s reported more cases of depression, and stress due to factors such as economic recessions which hindered the job market availability. This generation is especially pressed to reach higher educational goals as the market for unskilled labor reduces as the market for skilled labor increases hindering the transition into adulthood and independence.In conclusion, personal development and growth are influenced by several factors such as genetics, environment, cultural relativism. These factors shape an individual in specific ways. Genetics passed on influence one’s height, personality, and predispositional thinking that affect the person in everyday situations. Proper health from the time the embryo is implanted is necessary for a healthy baby. The environment also plays a role in the shaping of the individual. The home one was raised in, the nutrition, and overall lifestyle impact the health and beh avior of a person.Cultural relativism also plays a role, as culture follows an individual around regardless of location, and influences what one finds acceptable, and follows due to social norms. Because of the need for a higher education in today’s job market, a slower transition into adulthood can be traced to the need for more schooling, and a slower transition to independence.References Spiro, Melford E. (2001). Cultural determinism, cultural relativism, and the comparative study of psychopathology. Ethos. Berkeley:. Vol. 29, Iss. 2; pg. 218, 17 pgs. Huffman, Karen (2010). Life Span Development I. John Wiley and Sons, Psychology in Action 314-347.

Silent Differences Between American And British English Essay

Silent Differences in English that Divide American and British Spelling (Rough Draft) Guiding Question: What is the origin of and reasoning for different word endings that have no effect on pronunciation between American and British English? Does one go to the theater or does one go to the theatre? Are one’s eyes the color blue or the colour blue? The answer to both of these questions will differ depending on where they are asked. In England, the answers will most likely appear as theatre and colour respectively. However, in America, the opposite answers would be given, but only if the questions were in written format. If these questions were posed verbally, the answers would appear the same and no difference would be discerned. Therefore, why is one considered correct and one considered incorrect if they are phonetically equivalent and why do such differences exist? The answer to these questions is rooted in the history of the language itself. Whether it is the French influence or the American Revolution, British and American English are products of their history and culture. The evolution of phonetically equivalent word endings in British and American English reflect political situations, language shifts, and fo reign influences while evoking historical pride on both sides that carry the differences into present day. The move towards standardization of spelling for word endings can be seen in the seventeenth century. The fluidity of spelling was still prevalent as shownShow MoreRelatedAmerican English And British English1520 Words   |  7 PagesChamyan IEP UK 6 JUL 16 American English and British English The usage of the many forms of English dialects have often led to miscommunication. The knowledge gained beforehand can help to limit that, and to provide those visiting with an idea of what the local culture is like. There are specific words and phrases that may prove useful, words and phrases to avoid, and many key differences between American English and British English. Many useful words and phrases in the English language can mean manyRead MoreThe Lines Form The Backbone Of Communication1947 Words   |  8 Pagesvariations include differences in classification of the words, the meaning of the words and the usage of the word among other differences. Furthermore, the uniqueness of the word or phrase can also reveal information such as age group, ethnical background gender the socioeconomic status of the users. In others words, the uniqueness of words forms the foundation upon which the silent languages and communications are founded. This research will focus on a unique British English word that shows semanticRead MoreNoah Webster Essay925 Words   |  4 PagesNoah Webster Noah Webster, familiar to most Americans as the writer of the first American dictionary, worked as a schoolteacher in the late eighteenth century. As he taught, he came to realize that there were some major problems with the way English was taught in the American schools. The United States of America had recently declared its independence from England, and was struggling to form its own identity. The schools were still using textbooks from England, and these books varied inRead MoreEnglish As A Second Language Essay1497 Words   |  6 PagesLearning Academic English as a Second Language When I started searching about topics that are related to Academic English I came up with the features of Academic English but this was a general topic so I looked for other topics. I searched on google about other topics, such as the importance of Academic English. I noticed a website that is about the importance of Academic English for non-native speakers. That really interested me because it is a personal topic since English is my second languageRead MoreThe Constitutional Development Of Canada1372 Words   |  6 Pagesand common law derived from the French and British respectively. Canada did not always have a written constitution. The territory we now refer to as Canada was once populated by the French and English colonial masters. These colonists extended the laws of their home countries to their colonies. As the population of this territory grew and the UK gained control of more colonies including those from the French, making regional laws became a necessity. Between the eighteenth ad nineteenth centuries, theRead MoreThe Modern Day Legal Systems1671 Words   |  7 Pagescivil and common law derived from the French and British respectively. Canada did not always have a written constitution. The territory we now refer to as Canada was once populated by the French and English colonial masters. These colonists extended the laws of their home countries to their colonies. As the population of this territory grew and the UK gained control of more colonies including those from the French, regional laws became a necessity. Between the eighteenth and nineteenth centuries, theRead MoreHow Language Changes Start and Spread Essay948 Words   |  4 PagesPeople have always argued about the causes of language change and tried to control the changes that occurred but ultimately they accomplished nothing. Languages changes and spread as a result of the people who use it daily. African American English and California English are both examples of the different ways language can change. People try to resist the changes in their language because they do not want to see it change. Language change is a natural process that can be affected by others but neverRead MoreBritish vs American English6929 Words   |  28 Pagesby adding citations to reliable sources. Unsourced material may be challenged and removed. (June 2009) | The English language was first introduced to the Americas by British colonization, beginning in 1607 in Jamestown, Virginia. Similarly, the language spread to numerous other parts of the world as a result of British trade and colonization elsewhere and the spread of the former British Empire, which, by 1921, held sway over a population of 470–570 million people, approximately a quarter of theRead MoreSpelling Reforms1719 Words   |  7 PagesThe English Language originates from a Germanic language of the Indo-European family from several local languages brought by 6th century invaders.It has since spread throughout the British Isles and into various regions where Britain held overseas colonies. Today, as the second most spoken language in the world, it has been subjected to multiple prejudices concerning its acquisition, reception and learnability as a second language. As the language of business, science and technology, English shouldRead MoreAmerican and British English Pro nunciation Differences2740 Words   |  11 PagesAmerican and British English pronunciation differences From Wikipedia, the free encyclopedia Jump to: navigation, search Comparison of American and British English | American English British English | Computing | Keyboards | Orthography | Spelling | Speech | Accent Pronunciation | Vocabulary | American words not widely used in BritainBritish words not widely used in AmericaWords having different meanings in British and American English: A–L  Ã‚ · M–Z | Works | Works with different titles

Implications Of The Debt Crisis Essay Online For Free - Free Essay Example

Sample details Pages: 14 Words: 4090 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? The recent global crisis had multiple causes: The general cause appears to be a rapid growth of the level of debt (especially in the case of households), accompanied by sharp increases in real estate prices. However, the complexity of the crisis was increased by the existance of individual reasons in each country. The article aims to synthesize some of the most important reasons that led to the current crisis both general and country-specific (USA, Iceland, Ireland, Greece, Portugal, Spain). Don’t waste time! Our writers will create an original "Implications Of The Debt Crisis Essay Online For Free" essay for you Create order Last but not least, the article analyses some of the implications of the crisis for the markets and for the regulators. Introduction The financial crisis that hit the global economy in 2007 and is still continuing in 2011 has been the largest such crisis in the post-world war period. Its implications have been so numerous and some of them so radical that understanding this crisis has become a necessity for all of us. Having started as a liquidity crisis, it developed to the extent that it generated a recession in many countries, and it has had implications not only on the banking system, but also on the real economy and on the economic dynamics. The current article aims to make a synthesis of current research on this topic with regard to the multiple causes of the recent crisis (in the USA and in Europe) and to its implications. Causes of the crisis Despite the unprecedented global reach of the recent crisis, the European Commission (2009) believes some of its causes are similar to causes of previous crises, such as the Asian crisis in late 1990s or the crisis of the Nordic countries in the early 1990s. The common feature was that all these crises were preceded by long periods of rapid credit growth, low risk premiums, abundant availability of liquidity, strong leveraging, soaring asset prices and the development of bubbles in the real estate sector. Indeed, McKinsey (2010) made a quantitative and qualitative analysis of the evolution of debt levels during the pre-crisis period in several countries in the world, which revealed that after 2000 debt grew significantly in most mature economies, enabled by the globalization of banking and a period of unusually low interest rates and risk spreads. The borrowing increased substantially in the case of households, especially through home mortgages. The household debt level increased s ignificantly relatively to the household disposable income, which was ignored because the ratio of debt to assets appeared stable before the crisis due to the rising house prices. The level of debt was less worrying at the start of the crisis with regard to the business sectors, with the exception of the commercial real estate sector and some banks. Coming back to the level of debt, the McKinsey (2010) piece of research also quantified the structure of debt for a selection of 10 developed countries and 4 emerging countries in 2008. These results are summarized in the chart below, which shows what percentage of the debt of each country was issued by government, financial institutions or non-financial institutions, and what percentage of a countrys total debt is represented by household debt. All the numbers represent a percentage of the countrys GDP. Figure 1: The structure of debt for several countries as of 2008, as % of GDP. (Source: McKinsey (2010) report). These numbers have also been used by the Economist (2010a), which took the previous study further by analysing the dynamic of the increase of the government debt in analysed countries. Thus, in the 10 developed countries, the total debt increased from 200% of GDP in 1995 up to 300% of GDP in 2008. Some countries displayed even higher increases in the ratio between debt and GDP, such as 1200% for Iceland and 900% for Ireland. In the case of the latter two countries, the debt level proved unsustainable and pushed them into crisis in 2010. The chart shows that the countries for which the ratio between debt and GDP reached the highest level are the peripheral countries of the Eurozone (Greece, Portugal, Italy), but also USA, Japan, Canada and othes. The countries with the lowest ratio of debt to GDP in the sample were Russia, India and China, which also happenned to have a spectacular recovery recently following the crisis. At a more specific level, each of the countries hit by the recent financi al crisis had individual causes which influenced the development of the crisis both in specific countries and overall, since in some situations a strong contagion effect of the crisis could be noticed. With regard to the specific contry reasons detailed below, several economic indicators may be mentioned. The charts below detail the evolution of these economic indicators for the countries included and for the period 1995 2011. All data is available from the IMF and it is updated as of October 2010: Figure 2: GDP % change for a selection of countries, 1995 2011. (Source: IMF Database). The numbers represent the percentages of year-on-year changes for the constant price GDP. The numbers for 2010 and 2011 are IMF estimates, updated as of October 2010. Figure 3: Current account balance for a selection of countries, 1995 2011. (Source: IMF Database). The current account includes all transactions other than those in financial and capital items. The major classifications are go ods and services, income and current transfers. The focus of the balance pf payments is on transactions (between an economy and the rest of the world) in goods, services, and income. The numbers for 2010 and 2011 are IMF estimates, updated as of October 2010. Figure 4: General government gross debt as a % of GDP for a selection of countries, 1995 2011. (Source: IMF Database). Gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. This includes debt liabilities in the form of SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable. The numbers for 2010 and 2011 are IMF estimates, updated as of October 2010. Figure 5: Evolution of the unemployment rate for a selection of countries, 1995 2011. (Source: IMF Database). The numbers for 2010 and 2011 are IMF estimates, updated as of October 2010 . The USA was the first country to be hit by the crisis, and this was due to a series of issues. Firstly, the large mortgage debts, which were mentioned above. Secondly, some large financial institutions in the USA were confronted with a gradual decline in the quality of capital, as they had asset growth with increasing amounts of hybrid capital instruments, such as certain forms of preferred stock (McKinsey (2010)). Such capital instruments were unable to compensate for credit losses during the crisis, which brought a degree of vulnerability for those financial institutions in front of the crisis. Thirdly, instead of keeping loans on their own balance sheets, the banks moved towards the originate and distribute model, which led to a decline in lending standards (Brunnermeier (2009)). The banks used to create diversified portfolios of credit instruments (mortgages, corporate bonds, credit card receivables etc), then slice these portfolios into a number of tranches and sell these slices to various categories of investors. Each slice used to receive a credit rating from rating agencies and as a result, the slices were ranging from the superior senior tranche (the safest tranche, AAA credit rating, the first in line to be paid out of the cash flows of the portfolios, but with the lowest interest rate) to the equity tranche (the most junior tranche, lowest credit rating among the tranches, the last in line to be paid out of the cash flows of the portfolios, but with the highest interest rate). The low lending standards generated by such actions from the banks, combined with the cheap credit available at that time resulted in the housing frenzy that laid the foundations for the crisis. Icelands specific reason behind the financial crisis was, according to The Economist (2008), the fact that it had built a financial house of cards. Iceland represents an extreme case of a huge financial system towering over a small economy. Behind the encouraging image of low u nemployment, income per person above the average in the European Union, huge investments in green energy and inflows of foreign investment, the countrys 3 largest banks and its households built huge amounts of debt. The credit crisis was enough to make Icelands banking system, its credit rating and its currency all collapse at the same time. As a result, Icelands GDP fell by 15% from its top point to the bottom reached during the crisis. Ireland also proved to be different with regard to the way in which it was hit by the crisis. Morgan Kelly, an economist at University College Dublin, cited by The Economist (2011a), said that What happened in Ireland was very boring. There were no complex derivatives or shadow banking systems. This was a good old 19th-century, or even 17th-century, banking collapse. It appears that Irelands only reason to become hardly hit by the crisis was that during the previous decade, Ireland had turned into a nation of property developers. Ireland enjoyed average annual GDP growth of almost 10% between 1993 and 2000, which continued even afterwards, fueled by the low interest rates environment and excessive lending. Irelands fall started when property prices started falling in 2006 2007, and it continued with the crash of shares in Irish banks, the transformation of the banking crisis into a sovereign-debt crisis, the big rise in its borrowing costs and it culminated with Irelands acceptance of a bail-out from the EU and the IMF in November 2010 (the second such situation for a EU country). The rescue package received was EUR 85bn, out of which EUR 35 bn is aimed at recapitalising the Irish banking system. The cost of recapitalising the Irish banks has indeed proved to be significant. According to Deutsche Bank (2011), if the EUR 35bn amount previously mentioned would be fully used for this purpose, the estimated total cost of recapitalisation of Irish banks would reach 52% of Irelands 2009 GDP. Greece was the first EU country to receive a bail-out from the EU and the IMF in May 2010, worth EUR 110bn. Some of its greatest issues have been its high level of public debt and its high budget deficits. As The Economist (2010c) noticed, in 2001 when joining the euro, Greece already had a public debt in excess of 100% of GDP. Adoption of the euro currency allowed more favourable terms for the refinancing of government debt, and the strong GDP growth masked the weakness of Greeces public finances. Greeces government debt reached 115% of GDP in 2009 and its current account deficit reached 14.6% of GDP in 2008. Greece had leant too heavily on consumer spending and relied on foreign capital to supplement its low savings (The Economist (2010c)).Nelson et al (2010) went into further detail and listed additional reasons behind the Greek crisis: high government spending, weak revenue collection, weak enforcement of EU rules regarding debt, and others. In addition to these facts, Greece also faced certain restrictions, suc h as: impossibility to devalue the currency due to the membership into the eurozone, and the lack of competitiveness of its economy partly due to overhiring and overpayment in the public sector (The Economist (2010d)). Last but not least, Nelson et al (2010) noticed that complex financial instruments may have played a role in helping Greece accumulate and conceal its debt. One implication of the Greek crisis was the contagion effect to other European countries. Even if these countries only shared few of Greeces issues, investors still have become more prudent with respect to Portugal (which also has a high budget deficit), Spain (in need to restructure its economy) and Italy (heavily indebted). Portugal increasingly started to be seen as a potential victim of the sovereign debt crisis following Greeces crisis. Portugals weaknesses have been a large public debt and a high budget deficit, but its situation has been slightly different from that of Greece. Portugal enjoyed rapid econ omic growth before joining the euro in 1999, but afterwards it has been impacted by a steady loss of competitiveness in wages. The 1990s have been a lost decade for the economy and as a result, it became difficult to manage the countrys public finances (The Economist (2010c)). Moreover, the further expansion of the European Union towards Eastern Europe in 2004 has diverted part of the foreign direct investment away from Portugal towards the new members. Investors expect April and June 2011 to be an important test for Portugal, as Portugal will need to refinance EUR 9.5bn of public debt then. The yield of 6.7% paid by Portugal for the ten year bonds sold in January 2011 is very close to 7%, which some Portughese officials have declared that is not a sustainable level (FT, 7th Jan 2011). Spain also started to be seen as a potential victim of the sovereign debt crisis following Greeces crisis, even if Spains public debt level (at less than two thirds of its GDP) is not large relativ ely to the other countries. However, Spains problems lay with its local banks (cajas) and its housing bust. According to The Economist (2010b), Spanish banks have outstanding loans of EUR323bn to property developers (equivalent of 31% of GDP); and they already had provisions of EUR87bn for bad loans by the end of 2010. Deutsche Bank (2011) explains that in addition to this exposure of the banking system to the constructions sector, Spain is also negatively impacted by the highest level of unemployment among the major developed countries. In this respect, Spain is similar to Ireland. Deutsche Bank (2011) also highlights the major differences between the Irish and Spanish banking systems: the better condition of the two largest and internationally diversified Spanish banks (vs the major Irish banks), the heavier reliance of the Irish banks on inter-bank sources of funding, the stronger banks overall capital adequacy before the intensification of the crisis in Spain vs Ireland. Implications of the crisis for Europe The implications of a crisis can be numerous and they can refer to the financial sector, the real economy, regulations etc. As Cogman Dobbs (2008) pointed out, the impact of previous crises on the real economy has not always been the same. The direction of the impact was due to the actions pursued by governments for recapitalizing banks, introducing stimulus measures and restoring investors confidence in the economy. According to Reinhart Rogoff (2008), countries usually need two years in order to start recovering from past recessions after major banking crisis. However, there were several situations when a much longer period was needed for starting the recovery: Japan needed almost a decade (the lost decade) following the crisis in the 1990s; the USA also needed a longer time to start recovering after the Great Depression in 1929 1933, when 28% of GDP was lost. Cogman Dobbs (2008) suggest that one important aspect to assess is the impact that financial crises have on the availability of credit in relation to this, the impact of a potential shortage of credit has on the real economy and on consumer confidence has to be assessed. With regard to the availability of credit, the McKinsey (2010) report proved that 44 out of the 45 crises identified between 1929 2010 were followed by periods of deleveraging, where they defined deleveraging episodes as periods in which the ratio between total debt and GDP declined for at least 3 consecutive quarters and the total fall was at least 10%. Along these results, the report would expect that a series of sectors in some countries would deleverage in the near future (UK, USA, Spain, Canada and South Korea). The report also concluded that deleveraging episodes usually last 6-7 years and their initial years may also witness a recession. On a different note, it is interesting to mention that Lund Ruxburgh (2009) have tried to assess how the fortunes of the power brokers have changed following the recent crisi s (McKinsey Global Institute defined in 2007 the power brokers to be four large groups of investors which seemed to have an edge over others: oil exporters, Asian sovereign investors, hedge funds and private equity firms). Their conclusion was that in almost any scenario (depending on the future development of the crisis) the previously defined power brokers would remain significant players in the global capital markets. The big winners are the oil exporters and Asian sovereign investors, as the source of their wealth will persist: trade surpluses. As noticed by the authors, the rapid growth of hedge funds and private equity firms has stopped abruptly, but they are still expected to recover in the future. With regard to Europe, the implications have also been very diverse and of a very diverse nature: the decoupling of the core European countries from the peripheral ones, the creation of the European Financial Stability Facility (EFSF), debates on the topic of European integratio n, debates on complex derivatives and their regulation, implications for the government debt issuance, and others. As mentioned above, one important aspect of the crisis is that it has not impacted all European countries uniformly. In fact there is a big divergence between the core countries (Germany, France) and the crisis-hit peripheral countries (Greece, Ireland, Portugal and Spain): while the core countries have been enjoying an economic recovery since 2010, the peripheral countries are still struggling with recession. Being part of the same monetary union (ie the eurozone), they are goverened by the same monetary policy. While all eurozone countries were at the height of a financial and economic crisis, there was no debate regarding the apropriateness of the monetary policy. However, following the recent divergence, such debates have increased, showing a difficult task ahead of the European Central Bank regarding the rising of the interest rate for the euro. The four main pe ripheral countries mentioned above do represent a significant 18% of euro area GDP. However, Germany and France together represent 50% of euro area GDP. (Deutsche Bank (2011)) One of the consequences of the financial crisis in Europe was the creation of the European Financial Stability Facility (EFSF) in June 2010 by the 16 euro area member states. The EFSF has been fully operational since August 2010 and its purpose is to finance loans for euro area member states which are experiencing difficulty in obtaining financing at sustainable rates (EFSF (2011)). EFSF will be able to borrow up to EUR 440 bn by issuing bonds guaranteed by the euro area member states, and it has received the best possible credit rating (AAA) from all three credit rating agencies (Fitch, Moodys and Standard Poors). The money borrowed through such bonds will then be lent to struggling euro zone countries. EFSF issued its first bond on the 24th of January 2011 and met spectacular demand on this occasion, bankers not being able to recall such a large order book for any bond, government or corporate (EUR 40bn in orders vs EUR 5bn notional sold) (FT (2011b)). This first bond has been seen as a landmark deal and some investors said it could be a precursor to the first common eurozone bond. The European Commission also agreed on the creation of a permanent crisis mechanism: the European Stability Mechanism (ESM). ESM will become operational in 2013 when the EFSF expires and it will build on the existing EFSF. The aim of ESM will be to support countries of the euro zone which may find themselves in financial distress. ESM loans will enjoy preferred creditor status and they will be junior only to IMF loans (EFSF (2011)). The recent crisis also brought changes in the government debt issuance practices in the 16 euro zone countries. Before the crisis, these practices had converged to a common standard which involved placement of long-term, fixed rate debt denominated in national curren cy via competitive auctions. De Broeck Guscina (2010) have proved that after mid-2008 this standard could not be followed anymore, because of the increase in sovereign funding needs and the fall in investor risk appetite, which made risk premia rise. They performed a research on a sample of 3,000 debt issuances by governments in the euro zone and Denmark in 2007 2009, which was divided into a pre-crisis period (mid-2007 to mid-2008) and a crisis period (mid-2008 Dec 2009). The main findings of the research were that the new standard for issuing government debt in the countries studied was defined by shorter maturities (because such debt is less risky for the investor), foreign currency denomination (because such debt shifts currency risk exposure from the investor to the debtor), and/or floating rates (because such debt transfers the risks related to changes in global interest rates and in the countrys perceived creditworthiness from the investor to the debtor). Therefore, the im pact of the crisis was that it has forced governments to assume additional risk. This negative effect was especially pronounced in countries with high deficit and high debt. De Broeck Guscina (2010) concluded that the mentioned change in the standard for government debt issuance allowed governments to deal with the reduced risk appetite of investors and to limit the impact of high deficits and debt on interest payments, but at the same time exposed them to significantly higher risks of refinancing and repricing, and sometimes to exchange rate risk as well. One other implication of the crisis was that the use of complex financial instruments has been more and more questioned, and so were the financial regulations that are concerned with them. Nelson et al (2010) remind that during the crisis, the Greek governments used derivatives to conceal the true level of Greeces debt. For example they traded currency swaps through which they were receiving upfront payments which under EU acc ounting rules could not be recorded as loans, even if in essence they were. Some do believe that derivatives played an important role in creating Greeces debt crisis and as a result, an urgent need to tighten financial regulation for derivatives has been identified. Last but not least, on a global level, the development of the crisis also brought critics of the credit rating agencies. As stated in a previous article (Minescu (2010)), following each financial crisis there has been a lot of talk on the failure of ratings issued by credit rating agencies to predict the crises. This failure may be understood in multiple ways, such as: failure of a rating to predict default, failure of a rating to be stable, failure of multiple agencies to issue similar levels of credit rating for the same country at the same time, or failure of an agency to issue a rating in the correct category of ratings (ie investment grade or junk). Talk of the failure of ratings has been central to this recent c risis as well and in August 2007 the head of Standard Poors even resigned amid criticism received from politicians and investors about the agencies failure to signal the risk of securities backed by sub-prime mortgages. As a result of the new wave of critics directed at rating agencies during this crisis, regulators are again aiming to improve the legislation concerned with conflicts of interest that result from the business models used by certain agencies (FT (3rd Feb 2011)). Conclusions The recent global crisis had multiple causes: The general cause appears to be a rapid growth of the level of debt (especially in the case of households), accompanied by sharp increases in real estate prices. In this respect, the crisis may have similarities with previous crises, such as the Asian crisis in the early 1990s. In addition to this, there have been individual causes for each country: In USA -the increased use of hybrid capital instruments and the adoption of the originate and distribute model by the banks, which involved the creation of diversified portfolios of credit instruments and their resale as a redesigned product; in Iceland the huge growth of the debt to GDP ratio to 1200%, which led to the fall of local banks; in Ireland -the burst of the real estate bubble in the context of a debt to GDP ratio of 900% generated huge costs for recapitalizing the Irish banking system; In Greece unsustainable budget deficits, lack of competitiveness of its economy due to overhi ring and overpayment in the public sector, inappropriate use of complex financial instruments; in Portugal large public debt and high budget deficit; in Spain the housing bust and its negative impact on the Spanish banking system, and the highest unemployment rate among all developed economies. Several countries have already received external help from the IMF and other organizations: Greece, Iceland, Ireland etc. The implications of the crisis have also been very complex: lower availability of credit, the decoupling of the core European countries from the peripheral ones, the creation of the European Financial Stability Facility (EFSF), debates on complex derivatives and their regulation, implications for the government debt issuance, criticism of the credit rating agencies for failing to predict the crisis, and others.