Recession - Its Causes & Effects

By Dia Bijlani

It's been a lot of time we hear of "Recession" going on in US market. Everyone is talking about recession. We cling to newspapers, television news channels, and financial reports only to discover "what next" in recession. Technically, recession means decline in GDP or Gross Domestic Product of a country for two consecutive quarters. Now, this explains recession only as a definition to remember. When we go more deep, we need to first understand the meaning of GDP. Gross Domestic Product is the value of all final goods and services produced in an economy in a given year. These final goods are those goods which are not transformed into other goods. These goods are evaluated as per their market value. It means when the value of all final goods and services produced in a given year declines for two consecutive quarters, the state is referred to as "recession". It is visible in real GDP, real income, employment, industrial production, and wholesale-retail sales in an economy.
As per NBER (National Bureau of Economic Research), there have been ten recessions since 1945. From mid 1940s till 2007, the average recession lasted 10 months, while the average expansion lasted 57 months, giving us an average business cycle of 67 months or about 5 years and seven months. In this period, the shortest recession lasted only 6 months, from January to July 1980. The two longest recessions during this period lasted 16 months each, one extending from November 1973 to March 1975, and the other from July 1981 to November 1982. There was a noticeable decline in real GDP in both of these periods. The shortest expansion period from the mid-1940s until 2007 lasted only 24 months, from April 1958 to April 1960. The longest expansion continued from March 1991 to March 2001, setting a record of 120 consecutive months of growth. As luck would have it, United States has experienced only two relatively mild recessions and extended periods of expansion over the past 25 years.
There are various factors that flush an economy into the weird state of recession but Inflation is the main factor which contributes more towards the situation. Inflation is a condition of an economy when the prices of goods and services rise immensely over a period of time. The higher the rate of inflation, the smaller the percentage of goods and services that can be purchased with the same amount of money. This may be because of increased production costs, higher energy costs and national debt. When the prices of goods reach their ever higher stage, people tend to cut on overall spending, luxurious spending, restrict them towards basic necessities and thus save more n more. As a result, GDP declines when people begin to cut expenditures in order to cut down costs. This makes the companies to cut their costs as well and they chuck out workers which brings unemployment.
Thereby, following are some of the factors that push an economy into recession.....
- Credit crunch - shortage of finance
- Falling house prices - related to shortage of mortgages and credit crunch
- Cost push inflation squeezing incomes and reducing disposable income
- Collapse in confidence of finance sector causing lower confidence amongst 'real economy'
Recession brings with itself all major consequences which create mayhem within the economy. One of the major effects of recession is Inflation. Recession comes into effect with inflation while on the other hand; it is one of the after effects of recession. This means the commodities reach their ever highest prices and people generally cut down on costs. Hence, inflation becomes the major effect left out by recession. Lower income is another effect of recession in the economy. As people cut down on costs, they tend to buy less which reduces the income and thereby fewer profits or no profits. The next consequence is the increment in mortgage rates. Lenders increase the mortgage rates in a bid to cover the losses they bear during that time. Employment opportunities are also one of the main targets when the economy is burning under recession. In order to cut down on costs, companies cut down on employment opportunities thereby leading with unemployment in the economy. So when an economy enters into recession, firms experience a decline in profitability. This is because:
1. Tendency for price wars to develop in a recession. Low sales encourage firms to cut prices
2. Falling sales will lead to lower revenues.

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The Credit Crunch - It's True Causes and a Call to Action

By Philip Gegan

[This analysis relates mostly to the United States and the United Kingdom, which is where I live, but it is also important to people living in other Western countries.]
1. I'm not going to give you any BS. Reading this may give you nightmares but I can't help that. The important thing for you is to know who is causing the Credit Crunch and why. This may mean the difference between life and death for you and your family in the financial and economic tsunami engulfing all Western countries. Think I'm kidding? Then just read this to the end for the real truth that will make the hairs on the back of your neck stand up on end.
Who Creates Our Money?
2. The root of the problem is money creation. Money doesn't exist in nature, so someone has to create it. It should be created by the government through a department that's answerable to everyone who votes. This department should also be responsible for maintaining its value, with no excessive inflation or deflation. This means simply keeping the amount of money in circulation broadly in line with the value of goods and services in the economy at any given time. The National Debt would cease to exist as the government would issue (through the appropriate department responsible to voters) all the money needed for it to function. This would cut down government interference and radically reduce tax levels. It is fundamental that all money issued in this way should be debt-free, i.e. spent into circulation and not borrowed as a loan that has to be repaid with interest, which is what happens at present.
"The Most Powerful Weapon Invented By Man"
3. For over 300 years the economies of all leading nations have been debt-based. At the heart of it are central banks, controlling a system whereby credit-creation, a process essential for the functioning of a modern economy, is made a racket to facilitate the transfer of real wealth from the wealth-producing farmers, industrialists, workers and other wealth-producers, to the non-wealth producing banks, themselves owned by a tiny inter-related clique of families who believe their destiny is to rule the whole world, with everyone else as their slaves. This group of families in turn are the leading figures in the "global elite" referred to later. The chief tool in this system is compound interest (according to Einstein, "the most powerful weapon invented by man"), or usury, and the system itself has been called Finance Capitalism. This dates back to 1694, when the Bank of England was founded on a plan drawn up by one William Patterson, whose motto was "Thus You Labour, But Not For Yourselves". That should tell you a great deal about the people who control our money.
The Rich Get Rich And The Poor Get - Poorer!
4. Finance Capitalism is unworkable in the long run. Why? Because, under it, all money comes into existence as a debt owed to a bank. This debt carries interest which, when paid, reduces the money available to repay the original loan. (Okay, this is simplifying the issue, as some loans will be repaid, for example out of profits made by a business, but this is only at the expense of other debtors who miss out on the "musical chairs" and end up with insufficient money to repay their debt, or even the interest on it). There is therefore a constant shortage of money, which tends to increase poverty among those people less adept at accumulating it by way of savings. That's why the rich get richer and the poor get poorer.
5. This shortfall can only be made good by the banks lending more and more of their fictitious money. The amount of money lent has to increase in each cycle just to maintain an equilibrium between the value of goods and services in the economy and the amount of money available to facilitate a smooth means of exchange of goods and services in the economy. This money, of course, is made out of nothing, and its creation costs the banks nothing.
Why We Keep Having Trade Deficits, Unemployment and Recessions
6. For this reason, as well as sheer greed, banks and finance houses, and the shadowy figures who own them, are always seeking fresh borrowers, new markets in which to lend their promise-to-pay money. This leads to the transfer of wealth out of the country as new factories are financed and built in countries with a low wage level, and therefore low costs. These factories when built produce cut-price manufactured goods which, under the banner of "free trade", are allowed to flood into Western countries, with their higher wage levels and higher costs of production. This leads to high profits for the bankers who finance this trade, but for everyone else it means declining and disappearing manufacturing industries, industrial strife (as labour blames management and vice versa for being unable to "compete"), bankruptcies, suicides, unemployment and poverty.
A "False Economy"
7. The "Credit Crunch" has come about as the latest in a long line of Finance Capitalism failures. In 1929 it was vastly inflated plots of swamp in Florida. This time it's the "toxic debt" of the so-called "sub-prime" mortgage market in the US that triggered the crash. For over 15 years in Britain and the US the banks pumped loans into property, particularly domestic housing. As a result property prices have risen on average by around 300% to 400% in that time. And with the publication of each increase in the average house price came a chorus from the foolish economists, journalists, and other opinion-makers, saying how wonderful it was for the economy that the value of housing had gone up yet again.
8. As a result banks enjoyed a boom. Profits and commissions soared. Bonuses paid to City (of London) and Wall Street bankers and their minions were legendary - many exceeding a million pounds. As more and more borrowers were sought to sustain the doomed system, the inevitable happened. Home loans were made to more and more deadbeats and no-hopers - people with low-paying jobs and often with no jobs at all (they were allowed to "self-certify" their earnings status, for goodness sake!) - and the amounts lent (often more than the actual cost of the house itself) were in thousands of cases so high that there was no chance they would ever be repaid.
9. But as the property boom continued this was perceived not to be a problem. Any defaulting borrower would simply have his house re-possessed (the human cost of all this was never considered) and sold for a higher price than the original loan, so the lender wouldn't lose out. All the "experts" said the boom would never end, and house prices would always go up and up, for ever.
The Bubble Starts To Burst!
10. In the summer of 2007 the first signs appeared that the numbers of defaulting borrowers, and the massive amounts involved, might cause a serious problem to the banking system. The global elite holding the purse strings of the major banks, in accordance with their hidden agenda (see below), halted further lending. The bubble was therefore about to burst. The banks and loan companies that had spearheaded all this madness realised that they had better do something if they were not to be the first in line when the whole rotten house of cards started to collapse.
11. They came up with an ingenious solution. They "packaged" up as many of these toxic loans as they could, and added a few sound loans to make them look like a good investment, and sold them at a discount on the open market to other banks and finance houses that were after a quick profit. The purchasers of these packages were convinced that, though some of the loans in each package would turn out eventually to be bad, they were more than made up for by good loans at high rates of interest to good, respectable borrowers who would pay off their debts at any cost. And anyway, they still had the security of each house mortgaged, and the price of property would always go up, right?
The First Casualties
12. As we now know, nearly all these packages fell apart as soon as they were transferred, and the housing market crashed, with property prices falling off a cliff. Probably most of the original lenders are now out of business as the mortgage industry, on which they wholly depended, is in free fall. The buyers of these packages are, for the most part, the household names that have collapsed, been taken over by a rival company, or been nationalised. Northern Rock, Fanny Mae, Freddie Mac, AIG, Lehman Bros, Bear Stearns, Wachovia, Washington Mutual, Halifax Bank of Scotland, Bradford and Bingley . . . the list is only just starting.
What It All Means For You
13. What does all this mean for you and your family? The British and US Governments are pumping millions of fictitious pounds and dollars into their economies in a pathetic (and probably illegal) attempt to prevent a complete collapse. This so-called money is created out of thin air by their central banks (Bank of England, Federal Reserve System) and lent to the British and American governments as a huge loan repayable with real taxpayers' money at interest. It is a usurer's dream come true and everyone else's nightmare. The first effect for you, therefore, is that taxes are going up. And they're set to go up a long way.
14. What else is going to happen? Well, just think about it. Banks are short of money to lend. They have to carry on lending as otherwise they'll go out of business and people will realise that they can create their own money and not be constantly in debt to the bank. That would be the end of the game for the banking system, so the banks will seek to avoid this public realisation at all costs. They will resume lending but they will be very cagey about how much they lend and who they lend it to. They will tell us the resulting depression and economic misery was our own fault for "overspending" and that they themselves are being prudent with our savings (a laughable lie).
Unproductive Banks 1  Productive Industry 0
15. What is left of our productive industry will wither in the face of an investment famine, and die. Most of our remaining factories will close and unemployment will multiply. In Britain, Ford have already gone on to a 4 day week (October 2008). With the drastic reduction in the money supply, business failures, already at a high level, will sky-rocket. The market for modest family cars, for example, will collapse (as will a number of big name Western car manufacturers) but the market for luxury yachts will remain as strong as ever. The gap between the super-rich and the super-poor will grow even wider. All the billions pumped into the economy (without any corresponding rise in the production of goods and services) will cause rampant inflation. The ordinary, dispossessed, unemployed folk will not benefit from all this money, as it will go straight into the coffers of the bankers who caused the crisis in the first place.
A Mere 50 Per Cent Reduction In The World's Population
16. As the demand for social welfare and unemployment benefits soars, the government will run out of money to pay them. This is because the global elite who own the banking system will deliberately refuse to lend the money. The credit-worthiness of the British and the US Governments will have sunk to zero. There will be food riots, poverty and starvation and disease on a massive scale. This will be in accordance with the global elite's stated intention of causing a reduction in the world's population of 50 per cent. Most of the people to die will be the productive elite of western countries - managers, blue and white collar workers, farmers, even some professionals and academics. I told you this was not going to be a fun read. But it's the truth.
Death Of One New World - Birth Of Another
17. The result of all this will be a completely unrecognisable world, where Europe and North America count for little, against the newly-emerged economic power-houses of China and the Far East. The historic nation-states of Europe will be finally abolished, absorbed, politically and economically, into a European super-state, the rights of the ordinary citizen will be abolished, and all power vested in the so-called European Commission, itself thoroughly corrupt (it has never published any accounts in its 50 year existence) and a pawn of the global elite. The USA may survive as a nominally independent country, or it may be absorbed into a super-state consisting of the USA, Canada and Mexico, and perhaps some other Central American countries as well. That at least would solve the problem of illegal mass migration into Britain and illegal Hispanic immigration from Mexico to the USA - they would simply be population movements from one part of a super-state to another. The original European culture of the Old and New Worlds will be swamped to death by sheer weight of numbers. If you survive, you'd better get to like hip-hop and Bollywood.
Triumph Of The "Superclass"
18. All this won't affect the elite banking families - the families who own all the stock in the Federal Reserve, for example, or the 6,000 or so people who form the global elite, the "Superclass" of David Rothkopf's book of the same name, and who consider themselves as the natural rulers of the rest of us. They will view the death of Europe and North America, a death that they will have caused, with a kind of grim satisfaction, perhaps in the same way that a bunch of parasites (for that is what they are) view the death of their host. Their only concern will be to make sure their new host can provide them with the wealth and power to which they have become accustomed - only on a larger scale than before.
Wanted - A New Host For The Superclass Parasites
19. That's where China and other Far East countries come in. China has been undergoing an industrial revolution at a blistering rate in recent years. The Chinese population of a billion plus is firmly under the control of the Chinese government, thanks to the Communist Party having been assisted to power in 1949 by the US State Department, itself controlled by the global elite. It all depends on these creepy parasites, the global elite, being able to deceive the Chinese as easily as they have deceived the Europeans and North Americans.
Hell On Earth
20. Meanwhile, as the would-be masters of the universe re-locate to the Far East, Europe and North America will be left as polluted wastelands populated by a mish-mash of deracialised human trash, where crime, corruption and anarchy are the norm and most existence depends on a capability for cruelness and violence. Hell on Earth, in other words. You'll undoubtedly be better off dead.
Footnote: What can be done to stop this tragedy playing out? How can we free ourselves from the debt-slavery imposed on us? Why don't we all, all of us who can see the evil in this situation, get together through the Internet and start an organised resistance? It's going to mean hard work and dedication, and facing the wrath of the enemy, but let's do it!

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The Leading Causes for Insurance Claims and What You Can Do About Them Article Source: http://EzineArticles.com/81858

By Richard Berroa

Why home owners file insurance claims? The answer to this question is obvious;
because of some kind of loss. Do you know what the leading reason property
owners filed claims with their insurance companies? According to c 2005 fact book
the answer is Fire and lightning counting for 32.42% of all loss claims. The second
leading cause of damage claims is Wind with 22.8 % followed in third by Water
damage with 21.74% and finally theft with 4.54%(these figures are based on 5 year
averages from 1999 to 2003). What does this mean? It means that statistically
speaking you have less to fear from your neighbor than you thought you did.
Knowledge is power; you are now empowered to protect your home from these
causes of home damage. How though?
One unsettling thought is how we are at the whim of natures’ wrath. Sure you can
install a lighting rod on your home to protect it from lightning strikes but what do
you do to protect you from the big ole tree next to our house that just got slammed
by lightning and is now not only on fire but also falling onto your house. Cut the
tree down, make a home out of asbestos and open up a whole other can of worms
or do you just try to be prepared as best you can for disaster? Being prepared for
disaster sounds like the best option to me.
How do I prepare for eminent doom? You would start by taking care of obvious
holes in your homes safety net. For example if you don’t have a grounded lightning
rod installed on your house do that especially if you live in a high risk area i.e. an
area where there are frequent lightning storms. Make sure that when you do tackle
a hole in that net that you fix it correctly the first time, otherwise you’ll learn the
lesson my grandma ingrained in me “the lazy person winds up working twice as
hard”. After patching up the apparent holes its time to shore up the not so palpable
ones; what I mean is doing the little things that will pay back big dividends for your
foresight. Or example making an inventory of all your possessions is a great place
to start. If the unthinkable happens, with your home inventory you’ll have a record
of everything you had and what’s more your inventory is just the tool you’ll reach
for during the claims process.
The first thing your insurance company will ask you for is to compile a list of all the
lost or damaged items. No problem for you because you have your home inventory!
But what is this wondrous, magical tool? A home inventory is simply a list of all of
your possessions, with photos and details such as make, model, serial number, all
compiled in a neat and organized fashion for quick dissemination. Imagine the
claims process without it; having to compile that list after the home was burned
down. Could you remember everything? Would you be even in the right state of
mind to be able to do this? Don’t wait if you haven’t done this act now, later will be
too late.
Another smart move would be to check out what disasters are actually covered by
your insurance policy. Listed below is a list of most of the disasters covered by most
insurance policies (from the Insurance Information Institute’s website). http://
http://www.iii.org/individuals/homei/hbasics/whattype/
What type of disasters are covered?
Perils
1. Fire or lightning
2. Windstorm or hail
3. Explosion
4. Riot or civil commotion
5. Damage caused by aircraft
6. Damage caused by vehicles
7. Smoke
8. Vandalism or malicious mischief
9. Theft
10. Volcanic eruption
The following might not be covered by your policy!
11. Falling objec
t
12. Weight of ice, snow or sleet
13. Accidental discharge or overflow of water or steam from within a plumbing,
heating, air conditioning, or automatic fire-protective sprinkler system, or from a
household appliance.
14. Sudden and accidental tearing apart, cracking, burning, or bulging of a steam or
hot water heating system, an air conditioning or automatic fire-protective system.
15. Freezing of a plumbing, heating, air conditioning or automatic, fire-protective
sprinkler system, or of a household appliance.
16. Sudden and accidental damage from artificially generated electrical current
(does not include loss to a tube, transistor or similar electronic component)
Most policies cover only the first ten items on this list the rest are extra’s. The next
list covers item that are not covered by most home policies.
Disasters not covered
1. Floods?
You can purchase flood coverage directly from your homeowners insurance agent.
However, the policy is provided by the Federal Flood Insurance Program
( 800-427-4661, http://www.fema.gov/nfip ). You can get replacement cost
coverage for the structure of your home, but only actual cash value coverage is
available for your possessions. There may also be limits on coverage for furniture
and other possessions stored in your basement. Flood insurance is available for
renters as well as homeowners. You will need flood insurance if you live in a
designated flood zone. But also consider buying it if your house could be flooded by
melting snow, an overflowing creek or water running down a steep hill. Don’t wait
until the evening news announces a flood season warning to buy a policy. There is a
30-day waiting period before coverage takes effect.?
2. Earthquakes?
Earthquake coverage can be a separate policy or an endorsement to your
homeowners or renters policy. It available from most insurance companies. In
California, it is also available from the California Earthquake Authority
( [http://www.cea.gov] ). In earthquake prone states like California, the policy comes
with a high deductible.?
3. Maintenance damage?
It is your responsibility to take reasonable precautions to protect your home from
damage. Your insurance policy will not cover damage due to lack of maintenance,
mold, termite infestation and infestation from other pests.
In light of recent disaster’s it might be a good idea in looking into flood insurance
coverage. You can find out if you live in a flood plain by contacting your local
government office, for that info if you’re not sure. You can find their phone
numbers listed in the blue pages of your local phone book.
Finally use your imagination as to how you can protect and make your home
disaster proof. There are countless other things you can do inspite of the factors
that you cannot control. Just use your head and find the holes. Remember you are
your homes first and last line of defense; if you don’t take care of your home, who
will? Be proactive, that way you can be prepared for the worst of situations. Good
luck and be safe!

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The Meaning of Inflation - Discover the Causes and Effects That Can Cost You Money

By Ylva Jansson

What Is Inflation?
We can define the meaning of inflation in a number of ways. It can be thought of as a constant rise in the prices of goods and services over a specific period of time. Also, it can be the erosion in purchasing power, realizing that each unit of currency buys less of any type of merchandise than it has in past years. Keep reading to learn more.
Inflation Indicators
How is inflation measured? Any index as the consumer price index (CPI) can help determine the rate of inflation. The CPI measures the average price change of a market basket of goods and services within a given period. A second means of monitoring inflation is the GDP deflator which measures price changes in goods that are produced domestically. These rates help us to arrive at the inflation rate, or simply the rate at which inflation is taking place. The inflation rate is used to calculate the real interest rate as well as the real increase in wages.
Reasons for Inflation
Excess printing of money - Inflation occurs when there is either an increase in currency circulating in our monetary system or a decrease in the quality of goods and services available. If the money supply is not adequately controlled by the Federal Reserve than growth of the total amount of money will far exceed the total output in the economy or GDP. As a result, prices must rise at a rapid pace to keep up with the currency surplus.
Rising labor and production costs - Any costs associated with manufacturing that rise will definitely raise the price of the end products. The rising price of raw materials usually results in manufactured goods costing more. As workers demand wage increases, companies that grant them pass these costs onto their customers.
High lending levels and currency devaluation - International lending and national debt must be paid off in addition to the interest accrued. When large amounts of money are loaned, greater amounts of currency are printed to pay off these debts. As a result, the prices of goods in this country soar as a way to keep up with the debts.
Higher taxes - Whether federal taxes are increased directly or indirectly on consumer goods, this extra cost charged by suppliers is passed onto the consumers. Higher priced products hence are a source of inflation.
Demand-pull inflation - This typically occurs when demand for a particular product is far greater than what is available. Sellers then are able to raise prices until supply and demand become equal.
Financial Education
The most important thing we all can do right now is to educate ourselves on the mechanisms, causes, effects and meaning of inflation. Seek out all the information you can find about what's really going on with our economy and how you can protect yourself.

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Various Causes Of The Economic Collapse In The US

By Connor R Sullivan

The United States economy took a major hit on September 12, 2001. Many stocks crashed and consumers lost faith in various industries. Since September of 2001, a variety of industries in the United States have been hit very hard. One of the first industries to begin laying-off workers was the airline industry, which began in late 2001, early 2002. Following the airline industry into a downward spiral were the financial (including banking), automobile, housing (including real estate), and most recently lawyers. According to a bankruptcy attorney, there are fewer people in the "Lone Star" state who have to file because the state is doing pretty well in terms of keeping jobs, since it is home to many industries that have not have been hit as hard as others. In fact, bankruptcy is relatively low compared to a majority of other cities throughout the nation. Below, we will take a look at the major catalyst for the decline in these markets and how it has affected the American people.
1. The airline industry was, of course, directly affected by the events of September 11, 2001. A majority of Americans did not want to fly anymore and they lost confidence in the airline industry itself and its ability to protect Americans from terrorist attacks. Most airlines had major layoffs beginning in late 2001 and early 2002. There was also a pilot strike in the 2000s, which left the industry almost broken. However, even though the airline industry is still not what it was before September 11, it is moving forward towards some type of recovery.
2. The financial industry started to go downhill after the Enron Corporation was exposed for fraud and deceiving its' stockholders. Again, consumers lost faith in their investments and companies that were doing the investing. Since Enron, other major financial companies have faced similar charges of deception and fraud.
3. Because many people have either lost their jobs or cannot find jobs to begin with, the housing market has taken a hit. The housing market is very complex in the sense that not only are people unable to buy homes because they have less money, but also the banks made bad investments in people by giving out loans to people who could not afford to pay their mortgages once the economy took a turn for the worse. Now, to recover some of the money they lost, banks are no longer lending as much and therefore are limiting the amount of money they loan to consumers for homes.
4. More recently, the automobile industry has struggled partially because of major product recalls and partially because they had to accept tax payer money in the form of a "bailout." Of course, consumer confidence in the automobile industry has decreased dramatically because of the recalls and because consumers watched as more and more companies came forward for bailout money.
5. Currently, lawyers have either lost their jobs and many recent graduates are also unable to find positions. Because thousands of college graduates are unable to find jobs, they are staying in school to earn a graduate degree. Now, there is a surplus of lawyers and not enough jobs to go around. This will be a problem for decades as the number of people who are attending law school is increasing, while the amount of jobs available are either staying the same or decreasing.
If the above information can tell us anything, it is that when consumers lose faith in an industry, the company should brace for hard times. Consumers are what drive all industries and when consumers and investors lose confidence in any given company, there will be severe consequences. In order to start solving the problems of many of these industries, companies must attempt to gain consumer trust and confidence in order to move forward.

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What Causes a Current Account deficit

By Richard Pettinger

A current account deficit on the Balance of Payments means that the value of imports for goods and services is greater than the value of exports. The US currently has a very large current account deficit, roughly between 6-7% of GDP. This deficit threatens to cause a significant devaluation in the US dollar. This essay looks at the causes of a balance of payments deficit.
Fixed Exchange Rate
If the currency is overvalued, imports will be cheaper and therefore there will be a higher Q of imports. Exports will become uncompetitive and therefore there will be a fall in the Quantity of exports.
Economic Growth
If there is an increase in AD and National Income increases, people will have more disposable income to consume goods. If domestic producers can not meet the domestic AD, consumers will have to imports goods from abroad. In the UK we have a high Marginal propensity to imports mpm because we do not have a comparative advantage in the production of manufactured goods. Therefore if there is fast economic growth there tends to be a big increase in imports.
Decline in Competitiveness.
IN the UK there has been a decline in the exporting manufacturing sector, because it has struggled to compete with developing countries in the far east. This has led to a persistent deficit in the balance of trade.
Higher inflation
This makes exports less competitive and imports more competitive. However this factor may be offset by a decline in the value of sterling.
Recession in other countries.
If the UK's main trading partners experience negative economic growth then they will buy less of our exports, worsening the current account.
Borrowing money
If countries are borrowing money to invest e.g third world countries
In the US the main reason for a current account deficit is the high marginal propensity to consume of American consumers. This has been encouraged by relatively low interest rates, cuts in income tax for the wealthy and rising house prices. The recent fall in US house prices and therefore consumer spending may result in a lower deficit.

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Is it Important to Buy Renters Liability Insurance Coverage?

By Josh G. Harding

Renters beware. Your landlord is not responsible for losses or damages to your personal property. Moreover, you are responsible for any injury that occurs on your rental property. Many people mistakenly presume their landlord already possesses normal renters insurance and renters liability insurance policies and due to this fact neglect to get their own coverage. Without owning a coverage renters are at great risk for monetary losses.
It is important to recognize that landlords don't generally have coverage that will shield a renter against liability or personal property losses. The actual building, and not the renter's personal property, is ordinarily what a landlord will protect through their insurance policy. If a person visiting your home or condo becomes hurt it's your liability insurance that will cover the accidental injuries along with any medical payments, lawsuits, legal expenses, or associated costs.
There are two types of insurance that are important for a renter to buy, liability and a standard policy. A normal policy will cover losses or damages as a result of theft, fire, water damage from things other than a flood, and many other causes. Flood and earthquake damage normally call for a rider if coverage is wanted. A rider is an additional policy that offers the insured additional coverage that's not ordinarily a part of a standard policy.
Standard policies can also incorporate payouts for extra living costs. As a case in point, let's say your house or condo becomes unlivable because of fire, water damage, chemical risks, or other reasons. If you are compelled to reside in a hotel while the repairs to your property are made, you may receive a payout that will pay for the hotel expenses as well as other costs. Standard policies protect against damage or loss to personal property, but not against accidents or injuries to people on the property.
Coverage for a renter's assets calls for renters liability insurance. If an individual becomes injured while visiting your house or condo, they may file a claim against you and collect medical expenses as well as other associated compensation. Without liability coverage you risk losing all your financial assets in the event of an injury. Assets at risk consist of cash in checking and savings accounts, stocks, bonds, coin collections, and other monetary investments. A single liability lawsuit might be exceptionally difficult to recover from and is the reason this kind of coverage is so important to own.
Purchasing liability insurance is as simple as shopping for a standard policy. You can easily and rapidly locate sites that allow you to get free insurance comparability quotes where you will find cheap coverage. This is a nice technique to compare prices among top companies and get the cheapest one for your unique circumstances. When purchasing renters liability insurance you will need to be sure you have enough coverage to shield your entire financial assets. With not enough coverage you can still experience large monetary losses which are hard to overcome.
Your rates will depend on lots of things like age, credit standing, and others, but so long as you input the same information on all the comparability websites you will get accurate comparisons. This is the easiest approach to get an idea of the amount it'll cost you for personal and liability losses, damages, or injuries.

Earthquakes

It has gone through a number of revisions since then. The Mercalli Scale relies on how much damage is caused by an earthquake. Currently it runs as follows: ...

Causes of Current Global Recession, Inflation and How It Affects Your Financial Future

By Ylva Jansson

Things Are Tough All Over
It's the truth, around the world today every country seems to be experiencing economic troubles the likes of which have never before been seen. Understanding the causes of current global recession and inflation is the first step in arming yourself with the knowledge you need to protect. Continue reading and I'll explain some of the causes and effects.
Recession and Inflation
To start off, let's define recession and inflation. Recession is measured by a nation's Gross Domestic Product (GDP). The GDP is a total of everything that was produced within the territorial boundaries of that nation. It does not include that nation's companies who produce their goods overseas. A recession is a steady decline in the GDP of less than 10% over a period of several months.
Inflation refers to the decline of a currency's purchasing due to devaluation and price increases. While inflation is considered a normal part of the "business cycle," it can cause concern when it happens unexpectedly or at a higher rate of speed than expected.
Four Main Factors
1. One of the most insidious and pervasive causes of inflation is the excessive printing of currency. When currency production is not carefully controlled, its growth rate may overtake that of the nation's GDP. Because of this, prices go up sharply to compensate for the devaluation of that currency. It is referred to as the Demand-Pull effect. In this country, we rely on the Federal Reserve to control our currency. However, as the Federal Reserve is a privately owned international cartel, there really is not much interest in protecting the financial well-being of our citizens.
2. Increased production and labor costs is another element that drives inflation. As production costs rise, so do prices which can further damage the currency's purchasing power. The same is true for increased labor costs as the additional expense is simply passed on to the consumers.
3. National debt is yet another factor. As nations are called on to pay their debts with a hefty interest payment, prices sky rocket resulting in a drop in exchange rates. Higher prices are the end result as the nation's government tries to deal with the gap between imports and exports.
4. When governments increase taxes, this again puts the burden on the citizens. If it is a direct tax, that money is taken out of the citizens' paychecks. In the case of an indirect tax placed on products, the added cost is simply passed down to the consumer.
Woe Be the Consumer
So you begin to see the effects related to the causes of current global recession and inflation. It is the consumer / citizen in every case that must bear the brunt of economic hardships even when those hardships are a result of mismanagement at the government level. As a consumer, it behooves you to learn all you can about the mechanisms behind our current economic crisis so that you can begin to protect yourself as things get worse.

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How Alcohol Makes You Fat

By Ben Greenfield

If you glanced at the title of this article, you might have cringed. When it comes to fitness, nutrition, weight loss, and overall health, many of us have trouble areas. There are some individuals who have a glass of red wine with dinner every night. Others skip the drinking completely on the weekdays, then start throwing a few back on Thursday or Friday night, and keep it up until Sunday. Still others won't drink for two to three weeks, then have a weekend binge of a few dozen drinks or so (you know who you are!). Finally, while there are scores of individuals out there who don't drink any alcohol at all and really won't find this article personally useful, I encourage you (if you are one of those people) to read it anyways, and share the information with someone you think it might help.
So...how does alcohol make you fat, especially when it doesn't have any fat in it? To understand how this process occurs, let's examine the consumption of a 5 ounce glass of red wine by a fictional character named Vinny.
Vinny takes a drink. As the alcohol enters into digestion, it is split into two compounds: fat and acetate. The fat is taken through the bloodstream and stored wherever Vinny tends to deposit fat. The acetate is taken into the bloodstream and used as Vinny's primary energy fuel.
If you take anything away from this article, read that last sentence again. The acetate is used as Vinny's primary energy fuel. This means that rather than burning carbohydrates, protein, or fat as a fuel, Vinny's body relies on the acetate for energy. It completely stops burning anything else. Suddenly, Vinny has a surplus of carbs, protein, and fat circulating in the body with nowhere to go. So where does it all end up? You guessed it...it's converted to fat and deposited on Vinny's waistline.
But that's not the only effect on Vinny. Alcohol also acts as a potent appetizer. Ever heard of an apertif? It's an alcoholic drink taken before a meal to increase the appetite, and many restaurants realize that this is a great way to get you to order more food! Several studies exist that show a sharp increase in caloric intake when an alcoholic drink is consumed before a meal (compared to a glass of water, or even a soda!). So now Vinny wants either: A) another glass of wine or B) food (probably something salty or greasy).
That's not all! Let's say that Vinny succumbs to his appetite and finishes the bottle. Just a single bout of heavy drinking will vastly increase the levels of the hormone cortisol, while significantly decreasing the levels of the hormone testosterone. In addition to his headache, here's why Vinny should be concerned: cortisol causes the body to breakdown muscle and suppresses recovery from exercise, while low testosterone makes the body less likely build lean muscle or to burn fat as a fuel. So Vinny's getting a big belly, and skinny arms and legs.
Now let's consider the actual caloric content of the glass of red wine. Before we begin, bear in mind that at most parties, social gatherings, and restaurants, a typical glass of red wine is really more like 6-8 ounces. But we'll be conservative. So Vinny's glass of wine contains about 110 calories. Contrary to popular belief, there are very few carbohydrates in the wine - only about 5 grams. This is because when grapes are made into wine, most of the fruit sugars are converted into alcohol. For purposes of comparison, this glass of wine has about the same amount of alcohol and calories as a 12 ounce light beer or a shot of 80 proof spirit (yes, that means a shot of tequila = about a whole glass of wine). A regular, non-light beer, is even higher in calories, since it contains over twice as many carbohydrates as light beer.
But realize that alcohol itself contains about seven calories for gram, making it almost twice as calorie-laden as carbohydrates or protein, which contain only four calories per gram. However, these calories contain no beneficial nutrients, vitamins, or minerals. Sure - Vinny gets some benefit from the compounds present from the grapeskins and grapejuice, butif he drinks a big glass of red wine every night with
dinner, he consumes over 1000 additional calories per week, and gains a dozen extra pounds of fat a year!
I haven't really discussed mixed drinks and won't say too much. If you read my article "How Sugar Makes You Fat" you know about sugar's potent effect on fat levels in the body, and if you've read the label lately on any soda or mixer, you know how much sugar it contains. A ton! Basically, you can take everything I just illustrated in the case of Vinny, and multiply by 4-5. Margaritas, Long Island Iced Tea, Mudslides, and other sweet mixed drinks can do more damage to your diet than a Big Mac with cheese.
So let's be practical and assume that you are not going to completely give up drinking but want some tips for your next social event. Here's some ideas:
Dilute alcohol with diet soda. While there are health problems with the artificial sweeteners and chemicals in diet soda, this will reduce your overall caloric intake.
Use lots of ice. It makes your drink seem bigger without adding actual calories.
If you have to choose between fruit juice and soda in a mixer, choose fruit juice.
Avoid the salty snacks. They'll make you want to drink more.
At the bar, restaurant, or grocery store, try to find a top shelf product or good wine that you enjoy, then pay those extra bucks and sip it slowly. Savoring a drink will reduce overconsumption.
Drink as much water as possible. Try to have two drinks of water for every one drink of alcohol.
Did you enjoy these tips and tricks? You may want to check out my free blog and podcast at http://www.bengreenfieldfitness.com, which offers weekly advice on everything from nutrition to fat loss to sports performance. Bookmark it now!

Earthquake Museum-What Causes Earthquakes?

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The Great Depression - Causes and Effects

By Andy Mann

During high school I asked a naïve question to my economics teacher - which is the best phase for an economy and can we get rid of downturns. Her response was a measured one - the best economic phase is when the aggregate demand keeps exceeding aggregate supply slightly with little inflation. And on making depression a word of past - she responds, we still have to go a long way. It is not a matter of economic cycle but a matter of human greed. Regulatory bodies can only play a limited role in controlling the economy in capitalism, in the end it all boils down to the people. After burning our fingers in various downturns since The Great Depression, we can safely say that monetary steps contributed more to it than pure collapse in demand of goods.
Factors contributing to The Great Depression
The Stock Market Crash
Decade of strong performance after the first World War, the stock market was euphoric and rose to unprecedented heights. When the economy got overheated and speculation ran rampant, a crash was unavoidable. Under such circumstances the best government could do was to do nothing that might make a bad thing worse. But President Hoover had other ideas, together with Federal Reserve policy board head Miller he decided to clamp down the share prices and bring the market down by keeping away banks to extending loans that would be used buy stocks.
The situation was further worsened by firming of money rates to commercial interests. With it the bank is not within its reasonable claim for discount facilities at its federal reserve bank when it borrows either for the purpose of making speculative loans or for the purpose of maintaining speculative loans. It cut the money supply by one-third from 1929 to 1932. There was much less money to go around, businessmen could not get new loans--and could not even get their old loans renewed. They had to stop investing. Not because they did not want to but because banks could not lend them the money they needed. This interpretation blames the government and calls for a much more careful Federal Reserve policy. As the system collapsed it spreads panic. The first banking panic occurred in late 1930; the second in the spring of 1931, and the third in March 1933. When it was over, 10,000 banks had gone out of business, with well over $2 billion in deposits lost.
Deflation Effects
Misreading of deflation effects is also one of the major reasons, as the depression lasted longer than any before it. It is safely assumed that in deflationary conditions the interest rates will come down drastically and it will encourage people to borrow and invest money again in the economy. But as the market crashed and lots of people loosing the saving, unemployment sets in. The nominal interest rates increased steeply, leaving purchasing power of people drastically reduced. With this a sharp recession became a global depression.

The Causes of Earthquakes

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Home Insurance - Understanding The Small Print

By Trevor Dace

The house insurance product has two variations and the cost of the policy is dependent on the options that you choose.
This is where we split up into standard cover and accidental damage (or all risks). If you purchase standard cover, you have to compare anything that you'd like to claim for with the list of 'peril's against which you are insured. If you can't match the cause of the loss to one of the listed perils, you have no valid claim on that policy. The 'onus of proof' is on your shoulders. That means it is you that has to provide proof to the insurance company that the cause of loss is covered.
If you have accidental damage cover, you effectively have an 'all risks' type of cover. With this type of policy you are covered for any and every possible type of loss, apart from those listed in the policy exclusions. With this type of product The 'onus of proof' rests with your insurance company. In this case that it is up to them to prove that you are not insured against that risk.
Standard Cover
You should be able to find in the policy document a list of risks insured plus another list of exclusions that apply only to that peril. It could look something like this:
- Lightning, Earthquake, Fire, Smoke, Explosion - excludes damage caused gradually
- Aircraft plus articles or parts dropped from them
- Impact by animals, vehicles or falling trees or branches - excludes damage caused by lopping or felling trees
- Theft or attempted theft - excludes losses that occur if left unoccupied for over 30 days or left unfurnished or stolen by a lodger or tenant or paying guest.
- Malicious Persons - the same exclusions as for theft
- Burst Pipes - some exclude frozen pipes, others include it
- Storm or Flood - except for damage by frost and damage by storm to fences, gates and hedges
- Strikes, Riot, Civil Commotion, Political Disturbances or Labour Disturbances
- Oil Leakage
- Mast breakage or collapse, Radio receiving aerials, TV Aerials, Satellite dishes
- Subsidence - A complex list of exclusions not detailed
We will examine each of these in greater detail.
FIRE - Fire damage will normally only be paid for where there has been ignition. Smoke damage from the fire is also covered. You cannot claim for the smoke damage to your decorations caused gradually by smoking cigarettes and so on. That is not a fortuitous event, it is something over which you have control. Hence the exclusion. There are some more exceptions to the rule that there must be ignition but they differ substantially from one insurance company to the next, so you should check them carefully in your policy.
LIGHTNING STRIKES - you are fully covered against any damage to your building caused by a lightning strike. If lightning hits your aerial, sorry but that is a contents claim! Even though aerials are listed as an insured peril, they do not appear in the definition of a building. They do appear in contents. So damage to aerials constitutes a contents claim. Similarly with explosion and earthquakes. Fortunately these are relatively rare here in Britain.
AIRCRAFT - This covers anything dropped from anything that flies. Again, luckily for us, a rare occurrence.
IMPACT - The idea is that if your house is hit by a vehicle or an animal, you are protected. With trees, if you have hired a tree surgeon to fell or manicure a tree, you must ensure that all precautions are taken to stop it hitting your home (or sheds. garage etc). Whenever you have a specialist doing this type of job, and they cause damage to your property, then you are entitled to seek payment for the damage from them. But your policy will still exclude such damage so you cannot ask your insurer for help.
THEFT - Cover is very wide, that is the exclusions do not take much away from you. Whenever your house is left unoccupied for any length of time (e.g. 30 days or more), then cover is reduced as the property is recognised as a more tempting target for burglars. In fact, if your house is left unfurnished or unoccupied you should tell your insurance company anyway! Similarly with a tenant or lodger. The risk of the tenant or lodger being involved in the crime is strong enough that your insurance company does not want to insure against that particular risk, hence the exclusion. Once again, if you are doing this, you should tell your insurance company.
MALICIOUS PERSONS - In many ways this is the same as the exclusions relating to theft.
BURST PIPES - Insurers position on this has gradually changed over the years for the better. A good company will cover any leak, from any pipe, tank or water apparatus, even if it has leaked over a period of time. Some insurers will nowadays include damage caused by frozen pipes defrosting. When I first started working in this industry, it was always the case that the burst pipe was not covered, only the resulting water damage. Where there is clear evidence that the pipe has burst because of corrosion or rust then your insurance company might still raise this argument. Should a nail make a hole in a pipe, for example whilst fitting a carpet, then you will require accidental damage cover for the pipe repair but the resultant water damage to your building is paid for under this peril.
FLOOD OR STORM - The definition of a storm varies from insurer to insurer - check your policy. Frost damage is excluded although damage caused by snow is covered. A frequent disappointment is that damage caused to gates, fences and hedges is not insured. Some fences appear to blow down with even the most mild puff of wind! I have seen at least one insurance company offering additional cover, at a premium, for storm damage to these items.
RIOT, CIVIL COMMOTION etc. - Once more, it is rare for such activities to cause damage to your house, but when it does, you have cover in place. In certain circumstances, your insurance company will have a right to recover their outlay from the police force.
OIL LEAKAGE - For those with oil fired central heating, any damage to your buildings caused by oil leakage is covered.
TELEVISION, SATELLITE AERIALS - As mentioned above, your home is protected if any receiving aerial collapses and causes damage. But the aerials, dishes etc themselves are classified as contents and thus, not included in your house insurance policy.

Japan earthquake: Fukushima reactor nuclear leak causes radiation ...

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Inflation: The Causes

By Varun Jaiswal
Well speaking in layman's terms, inflation is defined as the gradual increase in price of a commodity observed in long time intervals. It is the gradual increase in rates due to which prices increase annually. It should be noted that short term increase in price doesn't count to inflation though. The basic reason of inflation is the presence of excess liquidity in the market which should be avoided during inflation. Now inflation can be caused predominantly due to two major factors:
1. Cost-Push Inflation
2. Demand-Pull Inflation
1. Cost-Push Inflation
This type of inflation occurs when there is an increase in the cost of production of a commodity, which ultimately results in the overall price rise of that item in the market. The increase in cost of production can be due to various factors-
1. Wage Factors
The trade unions may demand higher wages despite any significant improvement in the production efficiency or working time increased. This increased price due to the increased wages of the workers is reflected in the increased price of the commodity.
2. Increase in Price of Basic Materials
Well there are several raw materials like steel, iron, cement, etc which are utilized almost in any industry. An increase in price of such basic commodities is reflected in the increased i price of the item being produced.
3. Increase in price of the Raw materials used in the industry
Let us consider a hypothetical situation here, if there is an increase in price of leather, will the price of leather goods increase? Well, if the producer is profit oriented then definitely he'll raise the level of pricing of such goods until the price comes back to normalcy at least.
4. Profit Oriented Leading Players
If the leading or top producers of a commodity increase the price of an item in order to get more profit, then this trend is soon followed by all the other smaller producers in the market thereby resulting in increase n price of that particular item in the market.
5. Demand-Pull Inflation
This type of inflation is the direct result of the classic law of demands. Demand-Pull Inflation occurs when there is more money and liquidity in the market (with the consumers) than the total quantity of a particular item. With large amounts of money present
with the consumers chasing too little quantities the prices are bound to increase. But the problem lies in the fact that the consumers are willing to pay extra for such a product resulting in inflation. This has been normally observed whenever the demand exceeds the supply.

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What Were the Major Causes of the 2001 Recession?

By David Cornish

What were the major causes of the 2001 recession you might ask? First, let's focus on the here and now. Anyone with access to media of any form has now likely had their curiosity aroused by the latest recession talks. We are most definitely falling into one, and it looks serious. Unrestrained capitalism and consumer spending has finally caught up with us and we are now paying the dues. What goes up must come down, and this is exactly what is happening with the extraordinary economic growth we have seen in the last couple decades. It has been said that we must learn from the past to avoid making the same mistakes again in the future. The previous, most recent recession that comes to mind was that which occurred in the earlier stages of this decade. What were the major causes of the 2001 recession?
The most glaring issue was the the collapse of the Dot-com bubble. Basically, too many companies entered into internet marketing with their eyes and judgment clouded by dollar signs. They viewed the internet as a sort of "money-multiplying" machine that you basically put $2.00 into in order to make $200.00. They got lazier and less creative with their marketing efforts. This whole philosophy turned out to be incorrect for the most part, and consumer spending online began to demonstrate this. Eventually, large numbers of these generic companies went bankrupt.
This Dot-com collapse triggered a collapse in the NASDAQ. The Dow Jones remained relatively unscathed by the NASDAQ collapse until September 11, 2001, when the terrorist attacks occured. In the following months, the market rebounded and collapsed repeatedly. It eventually crashed hard in the final quarters of 2002, causing a recession.
Some economists argue whether or not to even label this period of poor economic activity as a recession because of the fact that it did not last a full two consecutive cycles. Nonetheless, it still had a hard-felt impact on the American people. When discussing the major causes of the 2001 recession we are definitely obligated to consider the relevance to our current dire economic situation.

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Painful Culturist Realities In China's Terrible Earthquake

By John K. Press

My friend Laura sent around a call for donations to aid those killed, injured and / or left homeless by the recent earthquakes in China. This mass mailing went out to a lot of people, but as I have known Laura for quite some time I imagined what I might say to her if we had a conversation concerning her relief efforts. Of course, sentimentally, my heart goes out to all the victims. But, my imagined conversation led to callous realities. For the sake of our nation and my friendship with Laura, I'm just going to ignore her e-mail.
As caring and supposedly wealthy people, Americans often want to give and are always expected to provide disaster relief. This giving spirit reflects a belief in a human community. Yet, as culturists know, that community is often more illusory than real. When America stepped into stop violence in Rwanda, Somalia and the Balkans we backed and protected some unsavory people in the middle of torrential violence. In such cases, someone will always resent your helping the other side. We are yet to see gratitude for our supporting Muslims in the Balkans. When it comes to interfering in nations we know little about, my culturist instincts always lean towards caution.
In the case of major nations, how much of a sense of community is there? When Katrina happened, Japan sent us $500,000. That is not enough money to buy one condominium in New York. While it goes further in New Orleans, it verges on being an insult. How much money did China give us? If we were broke and had a disaster, how much relief would China send us? We already have a major trade deficit with them and in normal times they do not seem to mind playing hardball to increase that deficit. As it is, we send them a lot of money and they send much less back. They seem to think our nations are competitors. The trade deficit seems to confirm this impression.
Diversity exists. Myanmar refused to distribute the aid sent to them. The North Korean government regularly takes U.N. aid, puts it in bags labeled "North Korean government," skims the bulk off for their military, and pretends like it is providing the relief. Whatever China spends in aiding its poor, they will not spend propping up the murderous regime in Sudan nor fueling their incredible and secretive military growth. As per my Western bias, I feel more akin to nations that promote democracy and rights and do not back terrorists. Even if it were eventually getting to the people, giving free money to China and Myanmar seems problematic.
Culturism does not put stock in abstractions. Rights, for example, only come from countries that believe in them and can afford them, not from a metaphysical reality. Even if we did consider all peoples one and looked past nationality and culture, we would still have limited resources to spend on the world. We currently have tremendous debts and deficits. Our very own infrastructure is old and collapsing. We have many homeless. And neither Katrina nor the World Trade Center has been rebuilt. While it might feel good to Americans to imagine the world shuttles money back and forth whenever there is a disaster, there are limits and one must prioritize.
I send those in China and Myanmar my condolences. I truly hope that their governments spend money on their people. I'll be watching their governments and judging them accordingly. Laura might ask if I would not want other nations to give me money if I needed it. Certainly I will take all the free money I can get. But, in reality, the lion's share of help I'd get would come from my own government and my personal resources. And the money our government spends to help in disasters comes out of real American's incomes. I do not resent that other nations do not take in refugees willingly or send other nations much money in times of need. I think they have their priorities straight. I truly hope China and Myanmar get relief to their people quickly

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How Can We Prevent the Next Big Haiti Earthquake?

By Glenford Robinson

How can we truly prevent earthquake disasters from happening in Haiti again? We know that earthquakes will be coming again in the future. In fact, Port-Au-Prince sits on the exact location of tectonic plate and fault formation under the Earth where seismic activities occur on a regular basis causing catastrophic earthquakes, none as big as January 12, 2010, nonetheless have occurred throughout history--1860, 1770, 1761, 1751, 1684, 1673, and 1618, (United States Geological Survey (USGS)).
Haiti needs proper building codes to withstand the next devastating earthquakes. This is a must, and the international community has to step in to do all it can to assist Haiti in this regard. The international community should see to it that all future buildings in Port-Au-Prince-- the epicenter of earthquakes in Haiti--be built using established building codes that will enable buildings and homes to withstand the powerful shakes of future earthquakes. We as the international community cannot allow such tragedy to happen again in Haiti.
In fact, Former President Clinton was a resident of the Hotel Montana during his last visit to Haiti, and the Hotel Montana was one of the hotels hardest hit by the devastating Haiti earthquake. Many people from other countries have perished in the Hotel Montana. This is to show us that the infrastructure of Haiti is an earthquake hazard to all of us, so all of us in the international community are compelled to come together and help a nation in need, and help it build itself stronger than ever before. Members of the international community have definitely done so.
It didn't take long for our wishes to be granted. In fact, it was granted in a big way. Former president of the United States, William Clinton (Bill Clinton) has teamed up with the International Code Council (ICC), a nonprofit organization that helps build safer homes and buildings that can withstand the shakes of the most powerful earthquakes. The ICC establishes building codes for builders or developers to follow when erecting buildings and homes in the United States and other parts of the world. These building codes are created to help buildings and homes withstand the effects of Earthquakes and other natural disasters. Such building codes will be of utmost importance in the rebuilding efforts of Haiti.
The ICC receives donations through its foundation (ICCF) to subsidize building assignments in places and situations such as Haiti. While it will be quite some time before the recovery tools and resources arrive in Haiti, the International Code Council is nevertheless using its relationships with the United Nations and the efforts being coordinated by former President William Clinton to help rebuild the devastated nation of Haiti and to reduce future destruction, fatalities, injuries, and property damage from earthquakes and other natural disasters that may occur in the future, (ICC).
In greater detail, the International Code Council is a nonprofit, membership organization composed of building code officials from building inspectors to fire suppression officials. A direct list of these officials is as follows: architects, engineers, developers, building owners, and others involved in building safe communities.
The Code Council develops model building codes adopted in all 50 States of the United States. These, building codes are either adapted or used as resources in other countries around the world including nations in the Caribbean, Central and South America, Asia and the Middle East. The group of International building Codes includes specific sections pertaining to natural hazards, which are regularly updated to coordinate with U.S. federal agencies and to reflect current data and field experience, (ICC).
According to the ICC, smart application of proven seismic safety principles to rebuild Port-Au-Prince and other Haitian communities are encouraged. It is common knowledge that damage, fatalities, and injuries from earthquakes can be reduced by adapting proper building code guidelines and enforcing them forcefully, (ICC).
Haiti will be getting the best building code technology to rebuild itself. The nation will be getting building code technology developed from knowledge and data received from earthquakes in earthquake-prone areas of the United States. This technology includes certain design and construction approaches that acknowledge hazards and risks associated with massive earthquakes. Such building codes and guidelines will be enforced by the International Code Council to ensure safe constructions of buildings and houses, (ICC). Builders who employ proper building code guidelines when building in seismically active regions know the value of these codes and the techniques to ensure their effective enforcement, (ICC).
Studies have shown that although it cost more to build earthquake-proof homes, every dollar spent on building safer and stronger homes or buildings, prevents four to seven dollars in future losses, (ICC). The ultimate goal of the ICC is to support the efforts of the U.S. State Department and other federal agencies, along with the United Nations and other international relief organizations, to make sure that Haiti is rebuilt in a manner that creates disaster resilience caused earthquakes, (ICC). According to the International Code Council, the seismic provisions of the International Codes are regularly updated to reflect the latest knowledge about earthquake dynamics and building behavior, and can function as an important tool in the Haiti earthquake disaster relief efforts. The Code Council will be providing written materials, subject-matter expertise, and professional development to ensure that Haiti is rebuilt for the long haul, (ICC). The events in Haiti once again show us that any rebuilding efforts should involve construction that utilizes the best available information and technology on building codes and building code enforcement guidelines, (ICC).
The ICC implied that earthquake events of similar magnitude have different impacts based on how prepared a nation and community is in managing the built environment-high rise buildings in cities and private homes. The more prepared the least the casualties, and the least prepared, the more the casualties-Port-Au-Prince, Haiti. In Haiti's case it was not prepared because its government and people did not have the financial resources needed to become prepared. The International Code Council's building codes for Haiti are therefore intended to protect people inside buildings when future earthquakes struck again by preventing the easy collapse of buildings and houses to allow for safe evacuations. It was because buildings collapsed so easily why so many people lost their lives in Haiti. Structures built following the most modern building codes should resist minor earthquakes without suffering damage by riding out severe earthquakes without collapsing according to the ICC. Structures in Port-Au-Prince, Haiti did not follow any modern building codes that would have helped buildings or houses resist the tremors of the massive earthquake of January 12, 2010. China's 7.9-magnitude earthquake was devastating, but with less casualties than Haiti's 7.0-magnitude earthquake.
The ICC and the international community are pouring out their hearts with support and prayers to the people of Haiti. Never in history as there been so much international support for a nation and people in such distress. It is wonderful to see the overall international support for the people of Haiti, the poorest country in the Western Hemisphere and the most devastated ever, in this region of the world.
The Haiti earthquake of January 12, 2010 was devastating, but history tells us that there could be more big ones in years to come. Port-Au-Prince sits exactly in the epicenter or hotspot of earthquake activities in Haiti. So, there will be more earthquakes coming in the future, big or small; they will be coming. Therefore, now is the time for the country of Haiti to go into preparation mode, so when the next one comes, the country's building infrastructure will be able to withstand the tremors or shakes of the largest of them all, and therefore give its citizens the precious moments they will need to escape before their buildings or homes fall and crush them. Haiti cannot make this happened without help from the international community. So, by President Clinton and the ICC stepping in to lend a helping hand to Haiti's rebuilding efforts, we can be assured that the people of Haiti will be fully prepared for the next massive earthquake whenever it comes.
If anyone would like to donate on behalf of the Haiti earthquake rebuilding or relief efforts, please do so by donating to the International Code Council Foundation, the Redcross, Unicef, or other credible sources.

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Global Financial Crisis Causes High Unemployment Rate

By David Smith Junior

I think that global financial crisis has touched almost all countries around the world. The US is not an exemption.
Recently I read an article where it was mentioned that unemployment rate, for example in New York City, in this December was about 11 percent. It has been the highest rate for the last 17 years. Some people think that it is seasonal unemployment. However, I consider that the main reason of this situation is well-known global financial crisis. Moreover, in December New York State experienced the highest number jobless people since 1983.
I think that during such crisis situations many people suffer from depression because of losing jobs. Moreover, nothing can help them even if they are very good professionals. It can be explained by the fact that people were dismissed because of shut downing of companies.
For example, one of my friends is a very good economist. He is a graduate of one of the best American university. However, now he is jobless. The company, where he worked, was closed because of financial crisis. As a result, all employees were dismissed.
In my post that is called "Unemployment Can Provoke Crimes" you can read how dangerous high rate of unemployment can be. Therefore, government should introduce some measures in order to help unemployed people. For example, increase jobless benefits. However, during financial crisis it is not possible. Moreover, in Greece, for example, increases taxes, cuts different benefits. As a result, it can lead to increasing number of depressed people because nobody can help them. The only possible solution is to wait the end of crisis.
However, in my next article I would like to give you recommendations how to find job during financial crisis. Please, do not panic and everything will be ok.
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