Thursday, November 28, 2019

Sunday, November 24, 2019

Free Essays on On An Experience Of A Life Time

On My Experience of a Life Time On a Sunday afternoon, last January, I was enjoying the Super Bowl with my family. While watching the game, something made me remember of the times I used to watch soccer games with my host parents. My brother shouting with a glee as his team scored a goal and my father clapping, reminded me of the days in Brazil where the football craze and support for their national teams pushed emotions to a fever-pitch. That afternoon get-together with my family brought back all my memories as an exchange student to Brazil. I had been sent to Brazil as an exchange student. An exchange student is a student from one country received into an institution in another country to learn about the culture and the tradition of that country. On a personal level, these programs teach relationship skills, build a positive attitude towards life, and raise confidence during difficult times. Before I was sent to Brazil, I was a very different person- Different in the sense of personality as we ll as in my outlook towards life. I was an extrovert and a timid kind of person. Until then I never knew how challenging life could be. My mother always encouraged me to learn different activities but I was never interested in learning new things. They encouraged me to learn the folk dance and music of India, in which I was never interested. My dad wanted me to see the world and understand that there are different cultures other than where I was brought up. He wanted me to understand that cultures could be extremely different from the place to place. They might be friendly or they might not be and some practices might seem outrageous to me, while some might make me wish that I were born in that culture. All these experiences add up to make you a more complete individual. He thought that sending me to Brazil was a wonderful opportunity, which could push me to get out of the cocoon that I had built around m... Free Essays on On An Experience Of A Life Time Free Essays on On An Experience Of A Life Time On My Experience of a Life Time On a Sunday afternoon, last January, I was enjoying the Super Bowl with my family. While watching the game, something made me remember of the times I used to watch soccer games with my host parents. My brother shouting with a glee as his team scored a goal and my father clapping, reminded me of the days in Brazil where the football craze and support for their national teams pushed emotions to a fever-pitch. That afternoon get-together with my family brought back all my memories as an exchange student to Brazil. I had been sent to Brazil as an exchange student. An exchange student is a student from one country received into an institution in another country to learn about the culture and the tradition of that country. On a personal level, these programs teach relationship skills, build a positive attitude towards life, and raise confidence during difficult times. Before I was sent to Brazil, I was a very different person- Different in the sense of personality as we ll as in my outlook towards life. I was an extrovert and a timid kind of person. Until then I never knew how challenging life could be. My mother always encouraged me to learn different activities but I was never interested in learning new things. They encouraged me to learn the folk dance and music of India, in which I was never interested. My dad wanted me to see the world and understand that there are different cultures other than where I was brought up. He wanted me to understand that cultures could be extremely different from the place to place. They might be friendly or they might not be and some practices might seem outrageous to me, while some might make me wish that I were born in that culture. All these experiences add up to make you a more complete individual. He thought that sending me to Brazil was a wonderful opportunity, which could push me to get out of the cocoon that I had built around m...

Thursday, November 21, 2019

Recently History Essay Example | Topics and Well Written Essays - 500 words

Recently History - Essay Example the southern African Americans faced a great deal of problems in the 1915-16, They were denied the right to vote, lived under severe poverty, faced crop infestation which affected them greatly as most of them were occupational farmers and most importantly they lived under heavy debt. Lack of facilitation and opportunities in the south prompted them to migrate to the north where the urban areas had flourish in the wake of the war. Since Europe was in the midst of a sever war that had haltered its economic progress, the United States became the facilitators in this case for the war torn countries. As a result not only did it strengthen economically, it also hosted a number of quality and well-paying job, a feature absent in the south (Exhibitions.nypl.org). They war had opened many avenues for them in the economic world of production and services and hence, the southern blacks moved to the north in search of greener pastures. This migration is known as the great migration in history an d played a great role in revolutionizing the black community in the United States. The female black population of the United States was positively affected as well. They contributed to the war efforts and as a result were able to get equitable jobs in the country as well. They became politically active as well and provided significant support to the black soldiers as a result. Many war service organizations specifically for women were also established like the Red Cross, Womens Auxiliary of the New York 15th National Guard etc. and thus, they were accepted as a strong opinionated part of the American population. Many instances also depict the increased employee sense that these minorities developed and retaliated against their white employees for due employee rights they were denied. Where the black Americans saw progress and growth at the war time, another minority faced dire consequences. Majority of the American population consisted of foreigners. Even though the german-americans

Wednesday, November 20, 2019

Advantages and Disadvantages of Pre-Coding Assignment

Advantages and Disadvantages of Pre-Coding - Assignment Example I cannot oppose the fact highlighted by Rousseau that indeed pre-coding is part and parcel of each research. The point is further made clear that pre-coding is a foundation of early planning and maintaining focus on essential parts of the research. I can add that pre-coding enables elimination of unwanted or unnecessary information that can, in turn, be misleading to the researcher and the readers. On the other hand, Rousseau failed to mention the disadvantages of pre-coding, but I think it is because he noted more of its benefits than the drawbacks it will bring in the topic of discussion. I find Donna’s arguments over the advantages of pre-coding to be very rational. To her, pre-coding is not just an activity, but a skill to be mastered by every researcher if he or she wants to summarize the data and at the same time retain all the vital data. Just like she refers to Patton’s (2002) suggestion on the process of organizing data, so do I strongly support that four steps are a must. Even though she argues that its disadvantage is that it works well only in a large amount of data, this may be a challenge and an opportunity for the researcher to be keener when handling errors.

Monday, November 18, 2019

Essay about a song Example | Topics and Well Written Essays - 500 words

About a song - Essay Example The lines â€Å"Winter is over, Summer is near,† (Krall lines 3-4) etched its symbolism into my head as pictures and memories filled in my mind. The lines depicted the change of seasons—for me, it symbolized the amount of change that happened in my life from the age of eight. I decided then and there to pause for a moment and letting out a soft sigh, I let the memories of childhood come back to me. The song didn’t stop and continued to play in the once silent room. More of the lyrics struck me as it continued to play. Diana sang on, saying that â€Å"I wished it would rain, washing away the sadness and tears,† (Krall lines 14-15), whether she meant it literally or not, I interpret it in relation to childhood experiences. The lines could mean that sometimes, being a kid is about being happy and that there are times when a grown up misses the life where there were a lot less responsibilities. I may not be a full fledged grown up but I can relate to the song where there are times I wish I could go back the time when all I would worry about is what game to play with the other kids in the neighborhood; when all I would think about it enjoying a worry-free life. The water from the rain symbolizes the power of the rain to cleanse a certain item—for those who are not kids anymore, it is to forget the worries and responsibilities for a moment and return to a life of innocence even for the quickest time. This time around, the song was nearing its end when another couple of lines caught my attention, â€Å"I stood there in the salt spray air,† (Krall line 19) the salt spray air could symbolize the air by the salty sea—according to a Carl Jung, a psychologist, in dreams, the sea itself symbolized uncertainty and vastness (qtd in Spoinas). It can pertain to life—anyone’s life, in general, where uncertainty is constantly present. Dangers and opportunities can be found in any corner and we are left

Friday, November 15, 2019

Dubai Property Market Economic Theory

Dubai Property Market Economic Theory With this dissertation what I would like to achieve is the following: I will carry out extensive research on the economic theory behind booms and bursts. I will look at some of the booms and bursts throughout history. I will attempt to make my own economic model behind what caused a boom and its subsequent burst and see if this model can be applied to the economic situation of the property market in Dubai. If a number of variables existed that suggested a burst might be coming, why was nothing done to stop it? 1.2: A brief history of Dubai Thirty years ago almost all of modern Dubai was desert. In the mid 18th century a small nomadic group settled there and built a small town. This small towns underlying asset being pearls. The pearl trade attracted people from all over the middle east, all with dreams of prosperity. The town was named Daba after a local locust that consumed everything it encountered. This rapidly growing town was soon acquired by the Gunships of the British army. Britain maintained control of the area until 1971(The Independent2009). In 1971 Dubai and five surrounding sheikhdoms (Abu Dhabi, Al Fujayrah, Ajman, Umm al Qaywayn and Sharjah) agreed on a federal constitution and became The United Arab Emirates or UAE. In February 1972 a seventh Sheikhdom, Ras al Khaymah joined the UAE. At this point Sheikh Zayid Ibn Sultan Al Nuhayyan of Abu Dhabi became the first president of the UAE. The ruler of Dubai, Sheikh Rashid ibn Said Al Maktum was named vice president, and his eldest son, Sheikh Maktum ibn Rash id Al Maktum, the prince of Dubai, became prime minister. In 1990 Sheikh Maktum succeeded his father as ruler of Dubai and as vice president and prime minister of the UAE (Library of Congress2007). It was around 1971, as the British were leaving that oil was first discovered. However to say that Dubai relied on oil for its growth would be wrong. Dubai had very little oil relative to its neighbouring emirate Abu Dhabi. So Sheikh Maktum had to diversify. He used oil revenues to create something he thought sustainable. Israel used to boast it made the desert bloom; Sheikh Maktum resolved to make the desert boom (The Independent 2009). It became a hub for tourism and financial services, Attracting capital and expertise from all over the globe. He invited the world to come tax free, and people came in their millions. A city seemed to descend from the heavens in thirty years. Would it be sustainable? (Source : The Independent, The Dark side of Dubai, 7 April 2009) (Source: Country Profile : UAE. Library of Congress Federal Research division, July 2007) 1.3: From Boom to bust over night. I arrived in Dubai in 2007 at a point when it was said that a third of the worlds construction equipment was in Dubai. It was the second fastest growing city in the world (second to Moscow) and appeared to be one big construction site. Skyscrapers were appearing over night to cater for increases in demand in property. However, a large part of this demand for property was merely speculatory. Investments in property appeared to be highly attractive and beneficial, especially to foreign investors earning in non dollar currencies. I say this because the dirham is pegged to the dollar (3.75 dhms per US Dollar). It was around late 2007 early 2008 that the dollar reached its weakest point making property in Dubai cheaper to people earning pounds for example. People also assumed that the dollar would one day appreciate; therefore giving investors that extra incentive. Dubais popularity was rapidly increasing and it was booming in the true definition of the word. However in September of 2008 things changed. See the following line graph of average residential sales prices to appreciate the extent of the crash. Figure 1 Residential sale prices (AED/ft2) Source: Landmark Advisory Board 2010. As you can see in Q408 both the average price of apartments and villas plummet from a mutual peak of 1500 AED/ft2 to around 900 AED/ft2 from one month to the next. This is a massive average decrease of 40 percent. I will attempt to demonstrate why this rapid increase in residential prices occurred and its subsequent decline and decide whether the boom and bust can be considered a bubble bursting in its true economic definition. Literature Review The Economic Theory and History behind Bubbles 2.1 An introduction to bubbles Essentially an economic bubble is an increase in the price of an asset or stock above its fundamental value and its subsequent decrease in value and implosion on the bubble is referred to as a burst. When asset prices increase speculators are overwhelmed by a sense of euphoria, chasing short term capital gains. A phenomenon that former chairman of the federal reserve Alan Greenspan memorably called irrational exuberance (Nial Ferguson, The Ascent of Money). Contrarily, when speculators primitive instincts turn from greed to fear, the bubble created by the initial irrational exuberance can burst with astonishing abruptness; almost overnight. Charles Kindleberger defined a bubble as a sharp rise in price of an asset or a range of assets in a continuous process, with the initial rise generating expectations of further rises and attracting new buyers generally speculators interested in profits from trading in the asset rather than its use or earning capacity. The rise is usually followed by a reversal of expectations and a sharp decline in price often resulting in financial crises (Bubble, Bubble, Wheres the Housing Bubble?) The initial boost in augmentation of the economy acts as a catalyst for both lenders and investors optimism about the future and asset prices rise swiftly. Nial ferguson refers to investors as an electronic herd, happily grazing on positive returns one moment, then stampeding for the farmyard gate the next (Nial Ferguson, 2008, 2009). 2.2 Bubbles in History The big ten economic bubbles (Charles P Kindleberger, Robert Z Aliber 2005) 1. The Dutch Tulip Bulb Bubble 1636 2. The South Sea Bubble 1720 3. The Mississippi bubble 1720 4. The late 1920s US stock price Bubble 1927-29 5. The increase in bank loans to Mexico and other developing countries in the 1970s 6. The bubble in real estate and stocks in Finland, Norway and Sweden 7. The bubble in real estate and stocks in Thailand, Malaysia, Indonesia and several other Asian countries 1992-97 8. The bubble in real estate and stocks in Thailand, Malaysia, Indonesia and several other Asian countries 1992-97 9. The increase in foreign investment in Mexico 1990-93 10. The Bubble in over the counter stocks in the United States 1995-2000. Also known as the .com bubble Over and over again asset, security and stock prices have reached unsustainable highs and subsequently come crashing down. From boom to bust, this process is consistently associated with ruthless insiders exploiting asymmetries of information attempting to make a profit at the cost of first time investors. In Dubai, every three months or so Emaar one of the big real estate developers (of which it is alleged that the absolute ruler of Dubai, Sheikh Mohammed has a thirty percent stake) released property for sale at increasing prices, almost instigating the bubble themselves very similar to what John Law (a convicted murderer and gambling addict) did with shares of the joint stock company named Company of the West (Compagnie dOccident) which resulted in the Mississippi bubble of 1720(Nial Ferguson, 2008, 2009). All these bubbles in History have followed similar paths; Nial Ferguson believes it possible to dissect all bubbles into five stages. 2.3 Nial Fergusons Five Stage Model (Nial Ferguson, 2008, 2009) 1. Displacement: An incident or innovation in the economy that generates new and lucrative possibilities for investors/speculators. Kindleberger refers to this as the expansion stage of the business cycle (Charles P Kindleberger, 2005). In the cases of the Dutch Tulip Bulb, The South Sea and Mississippi Bubbles this displacement was the creation of the Joint Stock Company. In the case of the US .com bubble the displacement or expansion was innovations in technology like the internet. In Dubai It could be argued that the displacement stage of the bubble was when developments were open for sale to foreign investors as opposed to previously when only locals could purchase land and property. This initial process causes a rise in spending which leads to inflated prices and increased consumption which combined translate to economic growth. 2. Euphoria/overtrading: Rising expected profits induce the appreciation in value of assets and shares. Investment soars because credit is in abundance. In Japan in the eighties Japanese investors had access to mountains of credit made available by nave bankers that didnt even contemplate a crash and the Japanese went on an investment spree. In the US in the 1990s, during the time preceding the crash .dom companies had access to almost infinite funds from venture capitalists with distorted perceptions of the future profitability of these firms (Charles P Kindleberger and Robert Z Alibir). Dubai was the same pre crash credit was very accessible; I will asses this further in my analysis segment of the dissertation. 3. Mania/bubble: The anticipation of rapid, easy capital gains entices first time investors and unscrupulous, esoteric brokers cater for this demand, in a ruthless attempt to sell assets and shares before a crash, which a seasoned broker is capable of predicting. 4. Distress: Insiders become aware that prices of assets and shares exceed their fundamental values and exploit the asymmetries of information by selling at profit. 5. Revulsion/discredit: prices begin to plummet and the electronic herd stampedes to exit the market causing the bubble to implode. The value of commodities bonds, stocks, land, buildings and houses decline to levels that are 30 to 40 percent below peak prices (Charles p kindleberger and Robert Z . Aliber, 2008, 2009), this adheres perfectly to residential duelling prices in Dubai (refer to figure 1). (Nial Ferguson, 2008, 2009). The Fundamentals behind this model are asymmetric information, availability to rapid, relatively cheap credit and the capability of capital to flow freely over geographical borders. This five stage model is accurate but basic. I will now progress to more specific models in detail behind the creation and existence of economic bubbles. 2.4 The Hyman Minsky model of instability in the supply of credit. This model created by Hyman Minsky can be used to explain financial fragility in economies. Minsky focuses on changes in the availability of credit. During periods of growth the supply of credit increases and during economic slowdowns this supply decreases. In times of growth, usually following an economic displacement like mentioned in Nial Fergusons model, investors feel more confident about the profitability of a number of investments and seek to finance these investments with credit. In the meantime, lenders become more enthusiastic about providing credit, even for investments, that prior to the expansion, had appeared too risky they become far less risk averse, reducing minimum down payments, minimum margin requirements. For individual lenders the cost of borrowing has to remain competitive too to maintain market share. However, when the mood changes, the economy slows down and fear kicks in, investors act much more cautiously. Lenders react similarly and their risk averseness increases and they supply less credit. Minsky believed that these cyclical changes in the availability of credit are a major catalyst to financial instability and are a factor in causing bubbles (Charles p kindleberger and Robert Z . Aliber, 2008, 2009). I am certain that minskys model was apparent in Dubai and definitely a defining factor of the recent burst. I will go on to prove this in the critical analysis part of the dissertation. Minsky also mentions an over-estimate of prospective returns, or excessive leverage (Charles p kindleberger and Robert Z . Aliber, 2008, 2009) during the euphoric period. Speculation suggests the acquisition of assets for the capital gain from expected surges in their value as opposed to income generated by one of these assets or for their use. The income generated by an asset or the use of an asset is considered to be the fundamental value of an asset and in bubbles the prices of assets fluctuate far from their fundamental values. This point is made clearer in the next part of the literature review. Minsky also states that a sense of euphoria or depression in one country maybe contagious in another country. I believe that the recent housing bubble in the United States and its subsequent burst influenced the real estate bubble in Dubai and was a significant cause of the crash. 2.5 Fundamental Value Researchers seem to concentrate on one of the following elements when considering a bubble: rapid appreciation of assets, overly optimistic predictions of future prices, a discrepancy between price and fundamental value and obviously a vast depreciation of assets when the bubble pops (Margaret Hwang Smith and Gary Smith, 2006). Karl Case and Robert Shiller believe that A tendency to view housing as an investment is a defining characteristic of a housing bubble (Margaret Hwang Smith and Gary Smith, 2006). However, Margaret Hwang Smith and Gary Smith, in their 2006 journal titled Housing, Housing, where is the housing bubble? disagree. They argue that housing can be considered a legitimate investment and that the best way to spot a bubble is to determine the discrepancy between the actual prices of houses and the fundamental value of these houses. Speculators in general do not make an attempt to calculate the underlying value of a house, they respond to expected capital gains. Margaret Hwang Smith and Gary Smith define a bubble as a scenario where the equilibrium price of an asset is higher than the present value of the anticipated cash flow from the asset (Margaret Hwang Smith and Gary Smith, 2006). Nonetheless, fundamental values may rise rapidly (for example an increase in population and therefore an incre ase in the acquisitions of houses for their use as opposed to expected capital gains, or an increase in rent) may stimulate a legitimate increase in the prices of houses. Equilibrium house prices may also increase rapidly and not necessarily be considered a bubble if their actual price is lower than their underlying fundamental value. They state that the real defining characteristic of a bubble is when equilibrium market prices cannot be answered for by the assets anticipated cash flow. Case and Shiller refer to the real estate market as being populated by amateurs making infrequent transactions on the basis of limited information and with little or no experience in gauging the fundamental value of the properties they are buying and selling'(Margaret Hwang Smith and Gary Smith, 2006). If this is true and I believe it was, in Dubai, to a certain extent (through knowing investors on a personal level) how can one expect for fundamental values to equal market prices? Most agents within the real estate market i.e. brokers, buyers and sellers seem to use what is known as comps when dealing within the real estate market. Comps are the latest sale prices of homes with similar specifications within the same area. Comps tell us how much other individuals are prepared to pay but not whether these prices are justified by the fundamental value (Margaret Hwang Smith and Gary Smith, 2006). Attempting to demonstrate whether market prices differ from fundamental prices isnt easy. Figures for average real estate prices are infamously imperfect. This is mainly due to the fact that houses are not homogenous in their specifications and environments. However, the National City Corporation use a multiple regression which considers a ratio of house prices to household income in a given area to mortgage rates, population density, the ratio of household income in the given area to the national average and historical prices to determine how much actual prices deviate from their real values (Margaret Hwang Smith and Gary Smith, 2006). The reason a ratio of house price and household income is used is based on theory by Karl case and Shiller that argue that housing prices are a bubble waiting to pop if the average investor is priced out of the market'(Margaret Hwang Smith and Gary Smith, 2006). There are problems with this model e.g. the historic house prices may not be based on fundamental value. Some economists including Edward Leamer argue that if house prices have increased in a larger proportion than rents a bubble exists (Margaret Hwang Smith and Gary Smith, 2006). I will attempt to look at rents versus house prices in my critical analysis section of the dissertation to determine whether this was apparent in Dubai. I will also attempt to look at the population density because I believe that it is relevant to fundamental value because an increase in population causes an increase in the demand for residential properties that will be used as dwellings. Minsky stated that a fundamental value of an asset was to do with is use and the income (rent) generated from the asset. 2.6 A brief look at the recent financial crisis in the USA. Hyman minsky stated in his interpretation of a bubble that euphoria or depression in one country can be contagious and spill over into another. I believe that the bursting of the real estate bubble in the states and the subsequent lack of worldwide credit was highly influential in the bursting of Dubais housing bubble. As per usual the great real estate and leverage bubble in the US of 2007 was instigated by a pervasive macroeconomic displacement. Prior to the 2000s banks would give loans to home owners and keep those loans as assets in their books (Burton G. Malkiel, 2010). However, post 2000 the entire banking system changed. Banks carried on issuing loans for mortgages but instead of holding them as assets on their books they would keep them for a short period of time and then sell them on to investment banks who would bundle different loans with different credit ratings into mortgage backed securities, also known as collateralized debt obligations (Burton G. Malkiel, 2010). Loans are split into different risk classes or tranches. So, low risk loans and high risk loans are bundled together and sold as one financial product which was deemed a good investment. This caused deterioration in lending standards (Burton G. Malkiel, 2010). Employees in charge of originating loans to clients were reckless when assessing the risk of the individuals potential default especially when dealing with subprime mortgages because they knew that the bank was only going to hold these loans for a short period of time and then pass them on. Insurance companies were also insuring subprime loans with credit default swaps because they were too nave to foresee mass defaults. These innovations in the banking system made credit easily accessible to individuals who may have not been considered credit worthy before these changes (subprime). Many financial institutions held vast amounts of these new bundled securities based around mortgages and held less equity backed securities and increased their leverage ratios (Burton G. Malkiel, 2010) making them very vulnerable in the case of a crash. Highly accessible credit at attractive rates due to lowered lending standards led to a huge bubble in the prices of houses. The inflation adjusted price of a commonplace home was roughly identical in 1999 as it was in 1899; however, between 2000 and 2006 real home prices doubled (Burton G. Malkiel, 2010). This is portrayed in the following line graph based on data from the Case-Shiller home price index in the US. Figure 2 Case-Shiller Home price index, 1989 = 100. Source: (Burton G. Malkiel, 2010) As you can see from the graph there is a rapid ascent in prices from around 2000 followed by a quick fall in prices starting in 2007. Prices began to decline and euphoria turned to fear. Houses were worth less than the amount of money owed to the banks and individuals began to default in mass. With massive amounts of defaults occurring, the value of the bundled mortgage backed securities or collaterized debt obligations (cdos) decreased rapidly. Many highly leveraged financial institutions holding long term assets financed by the short term mortgage backed securities did not have sufficient liquidity to continue to function (Burton G. Malkiel, 2010). All credit markets were frozen, excluding the US Treasury securities markets and financial institutions did not have sufficient liquidity to cover their short term debts. In the case of a bank an example of a short term debt is a deposit and people began to fear for their deposits and runs on banks happened in the US and UK institutions with vast amount of money invested in the US housing market e.g. Northern Rock. The US government was forced to bail out a number of financial institutions to prevent a total financial collapse (Burton G. Malkiel, 2010). Banks all over the world became cautious about lending money. Amlak finance Dubai stopped lending money all together and I think this was significant in the bursting of the bubble; it ties in directly with Minskys model of cyclical changes in the supply of credit. Panic struck and a worldwide financial crisis ensued. 3 Critical Analysis In this section of my dissertation I will evaluate real life data and literature about the situation in Dubai. What caused the rapid increase in price in the housing market? and what caused the resultant rapid decline in prices. 3.1 Displacement. Economists appear to agree that every bubble starts with a displacement. A macroeconomic change, or innovation, that induces pervasive adjustments in how agents within the economy behave and perceive the future. It can also be considered a paradigm shift. In the case of the .com bubble the displacement was the availability of the interweb to mass users. In the case of the recent housing and leverage bubble of the US the displacement was innovations in the banking system and the creation of new bundled financial products and collaterized debt obligations. In Dubai I believe that there were three displacing factors: The first displacing factor occurred in May 2002. Dubai was never rich in oil like its neighbouring emirate Abu Dhabi so it focused on creating a hub for tourism and commerce. It also promoted the development of real estate. In 1997 publicly quoted Emaar Properties and Al Nakheel Properties were setup (http://realestate.theemiratesnetwork.com/articles/freehold_property.php). In 1998 emaar started developing the Dubai Marina and the Emirates Living Community; however, properties within these developments were released on leasehold contracts which mean that properties are leased out for ninety years as opposed to being owned freehold. These developments were not successful in the market. People were sceptical about the leasehold contracts. Things changed in May 2002 when the crown prince General Sheikh Mohammed bin Rashid Al Maktum implemented a new law, stating that ex pats were able to buy property in certain areas of Dubai. The following graph shows all transactions from 1994. The graph is based on data from REIDIN.com a company that provides data and information covering all deals and transactions in Dubai since 1973. The company is an exclusive partner of the Dubai Land Department the real estate registry for the emirate. (REIDIN, DUBAI FOCUS, 2010) Figure 3 Quantity of transactions in Dubai from 1994 (Reidin.com, DubaiFocus, 2010) The graph shows that as of the changes in law about the ownership of real estate from 2002 there is not a significant increase in the quantity of transactions. In fact, there is a decline in transactions until 2005 when quantity of transactions increase rapidly from there onwards. I would still, however, consider the innovations in the legislation behind the ownership of property a displacement because without the changes, ex pats would never have been able to own property on a freehold basis and the bubble would never have happened. I say this because the vast majority of investments into the property market have come from expatriate sources. See the following chart which depicts the value of transactions by nationality. Figure 4 Value (AED) of property transactions by nationality from 1973 (Reidin.com, DubaiFocus, 2010) As you can see from the chart foreign investment is very significant in value and this could never have happened if the changes in legislation had not been made. Also, cross border transactions are a key in the creation of a bubble and as you can see from figure 4 cross border transactions are huge. Another displacing factor was hype generated by the media about talks of a new GCC currency called the Khaleeji. Talks were being had about the possibility of the UAE, Saudi Arabia, Oman, Qatar, Kuwait and Bahrain creating a new currency for their states. These talks were being had around 2006/2007 and nothing was ever finalised but if it was to happen, especially at a point in time when the dollar was weak, this new currency would be valued higher than the specific currencies of the gulf states and investments in these countries would appear even more attractive to speculators as they would rise in value from the creation of a new currency. This ties in with the next displacing factor which is the weakness of the dollar due to financial fragility in the US. In the Spring of 2006 the dollar weakened dramatically due to financial instability in the US. Towards the end of 2006 it looked as if the exchange rate was rising towards $2. In April 2007 the Dollar depreciated to over $2 and on the 27th of July 2007 it got to $2.06 the weakest it has been since 1981, it continued to fluctuate around $2 for the next five months and on the 9th of November 2007 it was $2.11. After this point, on average, the pound began to decline in value as the global recession hit the UK. The importance of this analysis about the dollar exchange rate is that it shows that from around 2006 until 2008 the dollar was relatively weak compared to the pound. Transactions for Real Estate were booming during this period as portrayed in figure 3 and a huge portion of these transactions were fuelled by investment from the United Kingdom as portrayed in figure 4. I therefore believe that the weak dollar was statistically significant in the increase of transactions from UK investors. The exchange rate of the Dollar versus the Indian Rupee shows a similar story. From around January 2007 the dollar declines in value against the rupee to a peak of around 39 rupee to the dollar. Compare this to a value of around 55 rupee in 2003. Again the weakness of the dollar compared to the Indian rupee can be argued to have catalysed vast investment from Indian investors from 2006 as the dollar was depreciating until late 2008 when the global crisis begun to have consequences on other nations e.g. India and the UK. I therefore consider this a displacement which lead to increases in transactions, increases in prices of property and overly optimistic expected prices. Refer to graphs of the dollar exchange rates versus the pound and rupee in the appendix section of the dissertation. 3.2 Euphoria/overtrading If you refer back to Nial Fergusons five stage bubble model you will see that after a pervasive macroeconomic displacement in the economy, if it is tending towards a bubble situation, an economy will experience euphoria, also referred to as overtrading. Rising expected profits induce the appreciation in value of assets and shares. Investment soars because credit is in abundance. If you refer back to figure 1 you will see that prices begin to rise steadily from 2005/2006. The number of transactions also increases rapidly from around the same period. Nial Ferguson also talks about the abundance of credit; this too ties in with minskys model of the pro cyclical supply of credit. It implies that many of these transactions were fuelled by credit or leveraged. Again this is similar to what was happening in the US before their crash. The following line graph shows the percentage of residential transactions fuelled by credit or leveraged. I have also included the percentage of residential transactions that are classed as other. I have put other transaction types into the equation because a substantial amount of transactions are classed as other. other refers to transactions that are none of the following transaction types: sale, mortgage, leasing, valuation, grant, rent, compensation and pre-registration. Im not entirely sure as to what types of transaction would be considered as other. This, I will consider a limitation in my data; however, this is data provided by a governmental entity and censorship is alive and well in Dubai. Figure 5 Percentage of residential transactions leveraged with credit. What figure 5 shows is a steady increase in the percentage of transactions fuelled by credit until 2006 when there is a vast decline in this percentage and a continuous decrease until 2009. I wonder if the global credit crunch caused by the US crash hit Dubai much earlier than people thought, however why did prices not stop falling until late 2008/2009?. There is a visible pattern here; as transactions leveraged by mortgages decreases, transactions classed by Dubai Land Department the real estate registry for the emirate as other increase. This appears to be rather dubious in my opinion; maybe the global credit crunch hit Dubai but in an attempt to maintain high prices until ruthless inside investors with asymmetries of information could leave the market with huge profits the quantity of transactions was kept high by the government, who have invested interests. Emaar Properties and Al Nakheel Properties are publicly quoted companies but ownership is predominately by wealthy governme ntal authorities. We all know that OPEC controls the supply of oil to maintain high prices; maybe something similar happened with property in Dubai. Nial Ferguson does mention ruthless inside investors have played a significant role in past bubbles; I think this could be apparent here. (Nial Ferguson, 2008, 2009). The graph shows that vast amounts of credit were used to leverage investments until 2006 when the amount declines rapidly. Probably because banks were influenced by the credit crunch in the US and feared they may have inadequate liquidity. I will analyse the pro cyclical supply of credit in a later section of my dissertation. 3.3 Mania/Bubble and distress Nial Ferguson refers to the next the next stage as mania or bubble, where first time investors are enticed to the market and seasoned investors who can predict a crash scramble to sell their investments at a profit before the crash. If you refer back to figure 3 that shows the quantity of transactions I would say that the mania/bubble stage was occurring from 2007 to 2008 at when the quantity of transactions are skyrocketing. At this point too, prices are still very high (refer back to figure 1). The closer to late 2008 the sillier the investment, as bubble bursts in october 2008. Therefore transactions around about this time have to be from first time investors who cannot see a crash. This is referred to by Nial ferguson as the distress period. 3.4 Revulsion/discredit Prices begin to plummet and the herd stampedes to exit the market causing the bubble to implode. This is apparent in late 2008 and 2009. Transactions stay high (Figure 3) but prices are declining rapidly (40 percent on average). So, investors are struck by fear and rush to sell properties even if it is done at significant los

Wednesday, November 13, 2019

International Eugenics Essay -- Sociology

Throughout the history of international relations, the study of human diversity has held a key role in establishing the political principles and recognized shared culture that defines nationhood. Nations have traditionally been associated with a specific geographic location and political ideology, but they also have ethnical identifiers associated with this shared culture. These ethnical identifiers were thrust onto the world stage during the end of the nineteenth century with the introduction of the study of eugenics. The purpose of this study is to examine the historiography of the eugenics movement as it occurred globally, providing a comparative survey of programs, legislation and ideologies in multiple nation settings. In order to provide a global comparative study of international eugenic programs and ideologies, several disciplines will be followed, focusing on four major terms used to delineate eugenics, â€Å"population, quality, territory, and nation.† Although eugenics has been seriously examined by historians since the 1960’s, international comparisons are a recent addition to the field of research, emerging near the end of the twentieth century. Even as these comparative studies become more popular, the majority of this research focuses on eugenics in Britain, Germany, and the United States. For these reasons, this study will attempt to highlight the movement outside of the Western world only drawing on their historiography as precedents throughout the global community. In 1963, Mark H. Haller published Eugenics: Hereditarian Attitudes in American Thought. As the first major history of American eugenics, Haller encapsulated the movement and only hinted at the biological doctrines of the Nazi’s and Soviet Union. Haller... ...155. Stepan, Nancy. The Hour of Eugenics: Race, Gender, and Nation in Latin America. (Ithaca: Cornell University Press, 1991), 4. Broberg, Gunnar, and Nils Roll-Hansen. Eugenics and the Welfare State: Sterilization Policy in Denmark, Sweden, Norway, and Finland. (East Lansing: Michigan State University Press, 1996), 2. Dikà ¶tter, Frank. Imperfect Conceptions: Medical Knowledge, Birth Defects, and Eugenics in China. (New York: Columbia University Press, 1998), 2. Cleminson, Richard. Anarchism, Science, and Sex: Eugenics in Eastern Spain, 1900-1937. (Oxford: New York: P. Lang, 2000), 11. Chung, Yuehtsen Juliette. Struggle for National Survival: Eugenics in Sino-Japanese Contexts, 1896-1945. (New York: Routledge, 2002), 145. Bucur, Maria. Eugenics and Modernization in Interwar Romania. (Pittsburgh, Pa.: University of Pittsburgh Press, 2002), 5.

Sunday, November 10, 2019

The Graphic Adaptation of The Cask of Amontillado

Refugeeland recounts Sacco's experience in the West Bank and the Gaza Strip, highlighting the difficult and unpleasant conditions that the Palestinian people were facing regarding the Israeli occupation of Palestine and the Gulf War in the early nineties.Joe Sacco's writing focuses upon the day to day experiences of a Palestinian from an outsider's perspective. His meticulous drawings and eyewitness reporting style combine to create a very compelling and complex visual. Edgar Allen Poe was an American author, living from January 19, 1809 – October 7, 1849, Poe is best known for his thrilling and macabre short stories. His final short story, The Cask of Amontillado, is a gloomy tale of murderous revenge, set in the catacombs of Italy, and embedded with symbolism told from a first-person narrative.Poe is a master of allegorical writing, his eerie works compel the reader to explore hidden meanings and ideas concealed within his works. Fantographics Books should strongly consider combining he artistic and literary talents of both Joe Sacco and Edgar Allen Poe to create a graphic novel, the detail filled drawings and intellectually stimulating narrative are guaranteed to appeal to the sophisticated and cultured readership of Fantographics Books. Context: Graphic novels are very important to literature. They can illuminate and expose parts of a story to a reader that would otherwise be hidden within the text.Through the use of visual imagery, the reader can gain more information and decipher parts of the story from a graphic novel that would other wise be assumed or lost in the text alone, such as the author's intent. Graphic novels can also be read by a much larger audience than text stories, this is due to the fact that graphic novels do not solely rely on the text to tell the story. This would be most beneficial for publishing a story in an international market where the story would have to be translated to different languages. The reader can view the image s and interpret the overarching idea of the story without having to read the text.An example of this can be seen in Robert Crumb's visual interpretation of Franz Kafka's short story, A Hunger Artist. The text version of the story was originally written in German, the story was then translated to English and many other languages around the world. Because of the difference in translations, some of the original meaning behind the story may have been lost. The difference between the text and illustrated versions of the story are very noticeable. An example can be seen in the different descriptions of artist himself. In Kafka's version, the hunger artist is described as â€Å"†¦ pale figure with enormously protruding ribs†¦. nodding politely†¦. answering questions with a forced smile†¦ † (465). In the graphic version of the story, Crumbs depiction is very different from realistic. While it akes no textual description of the hunger artist, it illustrates him as a very disturbed and reclusive man sitting in the back ot an animal cage, ne is not nodding politely or smiling, and he also appears to be on the verge of death (927). The visual depiction from the graphic novel aids in transforming the readers understanding of the text, otherwise the reader may be lost in translation.Why â€Å"The Cask of Amontillado† and Joseph Sacco: The descriptive details of a captivating story should be at the forefront of importance when beginning to create a graphic novel. It will eventually become the oundation for the drawings. Without such detail, the graphic novel will be unappealing to most readers, and because of this, the sales of the novel will suffer. For the best possible outcome regarding readership and sales, Fantographics Books should publish an illustrated version of Edgar Allan Poe's short horror-story, The Cask of Amontillado.Poe's dark and eerie narrative depicts the death of a person by being buried alive from a murder's perspective. The story is overflowing with vivd imagery and detail. One such example from the story would be when the main character Montresor begins to lead Fortunato down the stairs into the catacombs of Montresor, â€Å"l took their sconces two flambeaux, and giving one to Fortunato, bowed him through several suites of rooms to the archway that lead into the vaults.I passed down a long and winding staircase, requesting him to be cautious as he followed. We came to the length to the foot of the descent, and stood together on the damp ground of the catacombs of Montresor† (724). It is clear to see how much detail is bound into one small paragraph, his choice in adjectives and his use of first-person pronouns such s â€Å"We† and â€Å"l† allow the reader to envision them selves in the story, which is an excellent starting point for developing a drawing.Poe establishes a very absorbing and thrilling tale through his use of such imagery, and this is precisely why Fantographi cs Books should strongly consider publishing an illustrated graphic version of The Cask of Amontillado. The artist who could best illustrate the graphic version of The Cask of Amontillado would be Joe Sacco. Joe Sacco has a background in journalistic reporting, a career that requires serious attention to detail to clearly and ccurately relay all of the facts in a news story.In his artistic renderings, Joe Sacco uses an exorbitant amount of detail, which would mesh well with the many details and symbolisms within Poe's writings. One such example would be from Joe Sacco's graphic novel Refugeeland. The illustration in particular is on the second page of the story. It is a two page spread that depicts an arial view of a city. The graphic weight of the image leads the viewer's eye around the drawing, the primary source being Sacco's use of crosshatching to fill the different spacial grounds.It is filled with all of he normal things one would see in a city, such as buildings, cars, and p eople, except every possible space in the spread is filled with the tiniest detail. There are no text boxes or areas for dialogue on this spread, allowing the viewer to contemplate all of the details in the scene. Sacco makes every part of the image important, he doesnt focus on a particular object or person, which allows for different symbols or elements to be incorporated into the drawing.Poe is an author who uses symbolism is all parts of his writings, including character names, settings, colors, and diction. All of these ymbols work together to create an intellectually stimulating story that causes the reader to pause and reconsider certain aspects hidden within the writing. The aura of mystery surrounding the setting of Edgar Allen Poe's writing combined with the first-person perspectives in the illustrations ot Joe Sacco would make this an exceptional pairing for Fantographics books to publish.Preview: In the middle of the story there is a scene where Montresor and Fortunato a re in the catacombs, it is filled with various complex details describing the ambience of the crypt while the men carry out their vain attempt at finding the Amontillado, â€Å"We assed through a range of low arches, descended, passed on, and descending again, arrived at a deep crypt, in which the foulness of the air caused our flambeaux to glow than flame†¦ the walls had been lined with human remains†¦ † (725). In this scene, Joe Sacco will illustrate a two page splash capturing the entire crypt.In this splash, he will capture the intricate details of the catacombs by using hatching technique done with pen and ink. He will show the men descending past the different arches of the crypt from their perspective to make the reader feel like they are walking into the atacombs with the men too. When he illustrates this scene he will use a range of values to establish the fore, middle, and background, this will encapsulate a very important moment in the story that will lea d the reader's eye across the page and provide an opportunity to place symbols that Poe is known for into the drawing.His use of contrasting values in the scene will also convey the tone, which will be very grim and foreboding. Joe Sacco's elaborate adaptation will be ideal for Poe's mysterious short story. Challenges and Unknowns: Although it may be argued that Joe Sacco's background as a Journalist is not ppropriate for such a monstrous fictional tale like The Cask of Amontillado, especially considering all other artistic possibilities, Joe Sacco is the most qualified artist for the Job.Attention to detail is a major necessity for any artist who is thinking about taking on such a detail-rich story like The Cask of Amontillado, which is brimming with symbolism and subtle details. Joe Sacco's background as a Journalist is perfect for The Cask of Amontillado. In his career he focused upon depicting the perspective of the Palestinian people, his eyewitness style of writing is very fit ting for he firsthand narration that Montresor delivers to the readers, which is evidence of Sacco's ability to transform Poe's writing into a graphic novel.Honorable Mention: Another artistic and literary combination that Fantographics Books could have possibly considered would be the pairing of Art Spiegelman, author and illustrator of Prisoner on the Hell Planet, with A Very Old Man With Enormous Wings by Gabriel Garcia Marquez. Spiegelman's simplistic illustrations integrated with the magical realism of Marquez would have made for a very interesting combination. Visually, it ould be very stimulating.Spiegelman has a sort of crazed intensity to his drawings, I think it would have been fun to see the bizarre happenings of A Very Old Man With Enormous Wings portrayed in a woodblock printing style. Ultimately, I decided to work with Sacco and Poe because visually and allegorically there is so much more to work with. I enjoy the macabre and thrilling nature of Poe's writing more than magical realism that Marquez is known for. I also enjoy the realistic and complex style that Joe Sacco has as compared with Art Spiegelman, whose drawings are rather flat and disorganized.

Friday, November 8, 2019

Beetle Juice essays

Beetle Juice essays The first thing I look at when evaluating a film is the genres. I like to know what type of picture is it. The storyline is also very important to me. The movie and style Ive always loved as a kid, is the style that Tim Burton used in his film Beetlejuice produced in 1988 in USA. This film exploits and emphasizes supernatural and surrealism, because of effects produced by unnatural, non-ordinary to our everyday life. Strange lightning and camera angles make this film a formalist style of film. Special effects always make me have a different view of a movie. Afterlife I think, is something everyone thinks and wonders about and Burton gave us all a little taste of his interpretation, and its greatly seen in his style. Surreal and the unnatural films are always much more interesting because its not something we see often. I guess originality plays a very immense task, when evaluating a film. Genres is something that has a great importance to the film and storyline. Alt! hough everyone has their own favorite genres, it seems as though every once in a while, people sort of fall in type of genres. This greatly seen with Hollywood films, sometimes two or three westerns come out at the same time and later on, two or three action, boxing movies come together. So there is a time where we, without realizing it, fall for these genres. ...

Wednesday, November 6, 2019

How To Increase Reach With Video Marketing [Podcast]

How To Increase Reach With Video Marketing [Podcast] Video marketing: When you use it to grow your audience, it’s as much a science as it is an art. There are so many platforms, strategies, and networks how do you know where to focus your time, money, and energy for the biggest return? Today we’re talking to Mark Robertson, the co-founder of Little Monster Media, the founder of ReelSEO, and a digital video veteran. He’s going to talk to us about increasing your reach and growing your audience through video marketing. Some of the highlights of the show include: Information about Little Monster Media and what Mark does there. What platforms to focus on for people who are new to video marketing. How brands can build their audiences using YouTube and Facebook Video. How brands can follow the practices of publishers to see success when it comes to advertising and content marketing. Mark gives examples of brands that create compelling content without being â€Å"in your face.† How to know whether video is a medium you should use and harness, as well as stats on how video affects the brain in comparison to how text affects the brain. The importance of testing and measurement when it comes to getting your material in front of the right people. What measurements and technical details to pay attention to in order to succeed with video marketing. Powered by PodcastMotor Actionable Content Marketing powered by By 00:00/00:00 1x 100 > Download file Subscribe on iTunes Leave Review Share Links: Little Monster Media If you liked today’s show, please subscribe on iTunes to The Actionable Content Marketing Podcast! The podcast is also available on SoundCloud, Stitcher, and Google Play. Quotes by Mark: â€Å"I truly believe that every brand should be involved in video marketing or content marketing one way or another.† â€Å"What publishers do really well is understand how to tell a story they understand that engaging with the audience is important.† â€Å"Every brand should try video and it all comes down to strategy, audience, measurement and reiteration.†

Monday, November 4, 2019

Level of evidence grid assignment Example | Topics and Well Written Essays - 500 words

Level of evidence grid - Assignment Example P., & Kent, D. M. (2010). The Stroke Practice Improvement Network: a quasi experimental trial of a multifaceted intervention to improve quality. Journal of Stroke and Cerebrovascular Diseases, 19(2), 130-137. Power, M. L., Cross, S. P., Roberts, S., & Tyrrell, P. J. (2007). Evaluation of a service development to implement the top three process indicators for quality stroke care. Journal of evaluation in clinical practice, 13(1), 90-94. Lakshminarayan, K., Tsai, A. W., Tong, X., Vazquez, G., Peacock, J. M., George, M. G., & Anderson, D. C. (2010). Utility of dysphagia screening results in predicting post stroke pneumonia. Stroke, 41(12), 2849-2854. Aboelela, S. W., Stone, P. W., & Larson, E. L. (2007). Effectiveness of bundled behavioural interventions to control healthcare-associated infections: a systematic review of the literature. Journal of Hospital Infection, 66(2), 101-108. Hinchey, J. A., Shepherd, T., Tonn, S. T., Ruthazer, R., Hermann, R. C., Selker, H. P., & Kent, D. M. (2010). The Stroke Practice Improvement Network: a quasi experimental trial of a multifaceted intervention to improve quality. Journal of Stroke and Cerebrovascular Diseases, 19(2), 130-137. Kirsh, S. R., Lawrence, R. H., & Aron, D. C. (2008). Tailoring an intervention to the context and system redesign related to the intervention: A case study of implementing shared medical appointments for diabetes. Implementation Science, 3(1), 34. Lakshminarayan, K., Tsai, A. W., Tong, X., Vazquez, G., Peacock, J. M., George, M. G., & Anderson, D. C. (2010). Utility of dysphagia screening results in predicting post stroke pneumonia. Stroke, 41(12), 2849-2854. Power, M. L., Cross, S. P., Roberts, S., & Tyrrell, P. J. (2007). Evaluation of a service development to implement the top three process indicators for quality stroke care. Journal of evaluation in clinical practice, 13(1),

Friday, November 1, 2019

Resistance to Change Essay Example | Topics and Well Written Essays - 500 words

Resistance to Change - Essay Example The other tactic that can be used to reduce change in an organization is education. In most cases, when there is lack of information about a particular change initiative, people tend to resist it. it is therefore imperative to educate the members involved so that they can share the same understanding with the change agents. There are likely chances that people will understand why change is necessary in the organization if they are educated. For example, people may resist computerisation in their workplace in preference of traditional methods of storing and processing information which are manual in most cases. The main reason for this resistance is that people may lack knowledge about operating computers. Therefore it is important to educate them so that they can also understand the benefits of using computers in the workplace. The other method that can be implemented in order to reduce resistance to change in the organization is negotiation. According to Jackson & Schuler (2000), when a certain group will clearly lose out in a change and that group has considerable power to resist, then it is important to negotiate. Negotiation will create a win-win situation where the groups involved are likely to benefit from the change initiative at the end of the day. For instance, the management may not be able to fire the productive employees in the organization simply because they have resisted change. Instead, the two groups should come to the drawing table and negotiate so that they can map the way forward about how they can tackle the pressing issue together as a group not individuals. Cooptation is the other tactic that can be implemented in order to reduce change when other tactics will not work or are too expensive. Different ideas are taken into consideration so as to enable the members of the organization to agree on one thing that can rescue the company from collapse. This is more of a compromise situation where a