The Us Economy Since the 1990s Boom and Bust free essay sample

President Clinton took office in 1993, and set out to bring free trade to the US with the passage of NAFTA in 1994, an agreement that continues to be debated (Reuters. com, 2008). The Clinton way, however, was a break from the supply side Reaganomics of the 1980’s, as democrats set out to balance the budget and create a federal surplus. In 1994 the Federal Open Market Committee (FOMC) announced changes in its policy stance, and In 1995 began to explicitly announce the target level for the Fed Funds Rate, which was on its way to 6%. Inflation was low, and unemployment dropped below 5% for the first time in years. The late 1990s were booming, the internet was taking off, and high tech IPO’s continued to hit the market at a healthy pace. (reuters. com, 2008) The 1997 Asian Financial crisis would also prove a boon to financial markets, and the overall US economy. Investors around the world would shun faltering Asian currencies, flocking to the stable booming US markets. We will write a custom essay sample on The Us Economy Since the 1990s Boom and Bust or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In addition, high interest rates on US securities would further attract the growing influx of foreign investment (fas. org, 2008). The US Bond rate in 1997 would reach 6. 7% (federalreserve. gov, 2008). In 1998, in a move coined the Greenspan Put, the Federal Reserve chair orchestrated a financial bailout of the hedge fund: Long Term Capital Management (LTCM), to preserve liquidity in the Capital Markets. Critics of the move, at that time, claimed it created a moral hazard, encouraging banks to assume more risk if they knew the Fed was willing to bail them out. Interestingly, some of those critics’ predictions may ring true today as we see the financial sector struggle. (goldmoney. com, 1998) By late in the nineties however, markets were soaring with the dot com boom, and the SP 500 Index had grown to triple in size. But this economy was overheated, and by 2000 markets would begin to give back a hefty 50%-75% of their gains. President George W. Bush took office, and by 2000 the Fed Funds Rate was at 6. 5%, still lower than where it had begun the decade, but times were about to change. 2000 GDP output was a mere . 3%, unemployment was on the rise again, and businesses were failing. Then came the terrorist attacks of September 11th 2001, stock markets went into a free fall, and the economy was pushed into recession. By 2003 the Fed Funds Rate was brought to historic lows of only 0. 75%. All told however, the nineties were a historic period of peacetime expansion in the US economy. (UStreas. gov, 2008) Current Challenges with Fiscal and Monetary Policy The current economy has been experiencing a very different kind of growth as compared to the booming nineties. Inflation has been a constant risk, the housing market is in a great depression style downturn, and the cost of commodities is soaring. As some critics predicted in the previous decade, banks have taken on more risk of late. And, we have seen a modern day run on the bank situation with the collapse of investment bank Bear Stearns.

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buy custom Five Theme of Geography essay Geography is an interesting subject, but sometimes, the teachers may fail to express the point correctly, hence misleading the students. Teachers in Texas should employ the data presented in Texas Essential Knowledge and Skills (TEKS) to ensure that they give all the relevant information to the students. In geography, a teacher should be able to discuss the five themes to ensure that the students receive the necessary information. These include location, place, human-environment interactions, movement, and region (Davis, Ochman, Boehmer, McLarty, Ojo, 1992). Location can be either absolute or relative. Place is concerned with human and physical characteristics of a location. Human-environment interaction relates to ways in which humans adapt to and modify the environment. Movement theme relates to traveling of goods, ideas, resources, and information from one place to another. Regions are subdivisions of the world (Davis et al, 1992). Different events and people are included in the TEKS that helps the students to understand the subject of geography. Aristotle is one of the philosophers quoted by Davis in his book Dont Know Much about Geography. Aristotle was one of the great philosophers who relied on simplified reasoning. He thought that the closer to the equator, the hotter the temperature. His argument was based on the black skin of the Libyans, which made him believe that the black skin was as a result of being scorched by the sun. He believed that life on the equator was unbearable due to excessive temperature. Aristotle also believed in the natural balance that made the continents in the south of the equator equal to those in the north. He introduced the concept of the anti-poles, which lasted from his times till the voyages of Captain Cook in mid-eighteenth century. Aristotles philosophy is presented on the TEKS. However, the students need to get more information on this philosophy because it formed the basis of the geograpy history. Students should get more information about Aristotles contribution to the division of science into theoretical, practical, and productive group views, which is fundamental in understanding the geographical science. More emphasis should be put on Aristotles argument about the shape of the earth. TEKS should explain Aristotles observation. He observed that the shadow cast by Earth on the Moon during an eclipse is an arc. He also observed that the phases of the Moon and its appearance during eclipses are spherical, which led to the suggestion that the Earth might also be spherical (Seroglou Koumaras, 2001). The appearance of the stars as a person moves towards North or South and the falling away of the horizon when a person approaches is another indicator that the Earth is spherical. The things fall to the Earth in a way that appears to be close to the surface. It is the spherical shape that facilitates this as the sphere is the only shape that has the smallest surface in consideration of a given volume. Aristotle argued that the Earth is the center of the universe since all things move around it or fall towards its center (Seroglou Koumaras, 2001). Aristotles philosophy deserves the status given by the TEKS he it gave the idea of the shape of the Earth, which is now known for sure to be a sphere. Although Aristotles philosophy was developed in 384 BC, his observation has been approved by other philosophers that came after him. His philosophy marked the beginning of determining the shape of the Earth, the Moon, and the Sun. For this reason, it is essential to emphasize the contribution made by Aristotle to defining the shape of the Earth. Much information should be included in the TEKS concerning how Aristotle based his argument on logics. Although he was trying to be logical, he argued that the logic is just a dialect; hence, the study of reasoning should be analytical. The modern scientists use most of mathematical models and abstracts developed byy Aristotle. There are many people who apply these theories and equations without understanding how they were developed. Although most of the natural events were associated with actions of gods, Aristotle and other ancient philosophers were not sure about the role of gods. There was controversy about who causes particular event if not gods with most philosophers trying to explain those occurrences through the application of mathematical and philosophical principles. Aristotle, being unsatisfied with such arguments, offered a suggestion that such occurrences were found within nature (Seroglou Koumaras, 2001). He argued that nature was available within nature, which was pos sible to reveal through inductive reasoning and careful observation. This kind of thinking and reasoning is essential in teaching students to enable them to exercise their thinking capacity. Davis depicts Aristotle as one of the key contributors to the evolution of physical geography. He explained how Aristotle agreed with Platos argument that the Earth is a sphere by moving from philosophic reasoning to providing observable evidence. However, Davis explained how Aristotle failed in fairly simplistic reasoning by arguing that the closer to the equator, the hotter the temperatures. Again, Davis showed how Aristotle explained the theory of natural balance. I agree with the way Davis portrayed Aristotle as a great contributor to the modern geography. It is due to his argument that the current maps are drawn the way they are, and time is also determined. However, Davis did not give details about Aristotles argument and other ancient philosophers in his book. Davis only pointed that Aristotle had given evidence about the shape of the Earth by observing the shadow cast during the solar eclipse, but he did not explain how this information is applied in modern-day science. I believe much more information should be included in the book to ensure that the students understand the depth of Aristotles philosophy. Buy custom Five Theme of Geography essay

Environmental Issues Essay Example | Topics and Well Written Essays - 1250 words - 2

Environmental Issues - Essay Example Handling temperatures and pressures of subsea oil can easily be monitored through the use of sensors and other instruments even during drilling (p. 135). But Rose argues that even though modern technology, research and monitoring systems have reduced the frequency of ecological catastrophes, still, there are factors that can cause oil-well blowout from high-pressure and high-temperature which can result to emission of buoyant plume of oil, producing water and methane (p. 141). Baird stated that â€Å"hurricanes have become manageable, with oil lines now being capped at or beneath the ocean floor† (p. 135). But aside from oil lines on and beneath the ocean floor, Rose said Hurricanes Katrina and Rita destroyed 115 platforms, spilling roughly 17,700 barrels of petroleum and 25,110 barrels of mixed crude oil from above-ground storage tanks in Louisiana (p. 141-142). Petroleum leaks, Baird said, can now be restrained by industrial seals (p. 135). Although this is the case, the pro blem does not stop at petroleum leaks. Rose argues that another disturbing impact of offshore oil is the volume and type of wastes, such as produced water, drilling fluids, cuttings, diesel emissions, and chemicals associated with operating mechanical, hydraulic, and electrical equipment (p. 142). Even with modern technology, we cannot guarantee that offshore drilling can withstand the force of God, which include hurricanes and other natural disasters, and human errors. Modern technology cannot reverse the destructive environmental impacts of offshore drilling gone wrong. It is better for us to find alternative sources which are safer for the environment and for the people’s health. Protecting the environment does not mean we are less concerned about protecting the country from economic problems, but other alternative sources can lower oil imports and thus save our country from further spending. Issue 8 - The release of carbon dioxide in the atmosphere contributes to global w arming and is thus a danger to the well-being of human beings. To ease global warming, either people refrain from using fossil fuel as an energy source or capture carbon dioxide before it reaches the atmosphere (Easton, 2011, p. 148). In carbon capture technology, the debate is not about the existence of the said technology but on their sustainability, safety and viability in being stored underground indefinitely (p. 149). In a nutshell, there are three issues surrounding the debate between David Hawkins and Charles Schmidt – the availability of technology, safety concerns and the political will to end the use of coal (Easton, 2011, p. 149-150). Hawkins maintains that the technology to capture carbon emissions are already existing and can already be utilized while Schmidt contends that the available technology is not yet technically and financially viable to be utilized in a major scale (p. 149). Anent to this issue is the question on safety, while Hawkins maintain that the t echnology on safety concerns are already feasible, Schmidt contends that there is still no assurance that carbon dioxide can be stored and can remain in containment underground indef