Summary
The Bank of england monetary policy committee maintained its 6-3 split in favour of keeping interest rate on hold earlier this month. The reason for that is because the inflation that hit 5.3% in April was not enough to warrant a rate rise. The committee noted that soaring oil and other commodity prices would cause inflation to rise more than forecast in its February inflation report and could breach 5% in the next few months. Inflation unexpectedly dropped 4% in march but the MPC said this was hard to interpret until more detail became available, according to the minutes.
Connections
Gas played a huge role during inflation since the price of gas skyrockted alot in the past couple of months, due to the large amount of money supply that flows into the economy. For the money supply to change bank reserves would have to be raised. Because most of the time bank reserves would highly influence how the economy goes.
Reflection
The reason that england did not want an increase in bank rate was because the wage growth was still remained low. Also it was still to early to make any changes because they did not know what was going to happened in a couple of months due to inflation. Since alot of markets crashed and the price might changed any moment. So therefore if the bank did raise interest rates and the inflation rate changes it would be a huge hassle for them because they would need to make alot of changes.
Sunday, May 15, 2011
Monday, May 2, 2011
1. How long do you think it's going to take to get to all virtual cards? How many years? (1 point)
I think it would take at least 10 years because the first 5 years would all be research in development in technology because as of now technology is just starting to fully develop for example the introduction of NFC and mobile
b) Why? (1 point)
2. Who will not be on board with this new virtual wallet? (2 point)
3. What companies are going to be affected negatively by this? Name 3
4. Who is going to make money from this? Name 3
I think it would take at least 10 years because the first 5 years would all be research in development in technology because as of now technology is just starting to fully develop for example the introduction of NFC and mobile
b) Why? (1 point)
2. Who will not be on board with this new virtual wallet? (2 point)
3. What companies are going to be affected negatively by this? Name 3
4. Who is going to make money from this? Name 3
Sunday, April 10, 2011
Great Depression Compared To Recession Now
1. How did great depression start?
The great depression started in the year 1929. It caused many people to lose their jobs and banks became bankrupt. Also no one would consume any production from companies.
The government took huge roles to aid the process of recovery of both depression and recession. During the pression the goverment.
When the stock market crash on October 24 , 1929, when 12.9 million shares of stocks were sold in one day. Share prices fell 15-20%. So therefore majority of the people hang on to there money instead of spending it.
Reflection: in your own words tell me which one has made more of an impact on the world.
The Great depression showed alot more impact to the world compared to now. The reason for that was because it lasted for 10 years. While if its compare to now things would be easily fixed.The great depression caused a 25% increase to unemployment rate, and wages for people were lowered by 35-40% which is alot. The government did not do anything about it because they didn't know what to do compared to now eventhough if a recession occured everyone will still earn what they are making now.
The great depression started in the year 1929. It caused many people to lose their jobs and banks became bankrupt. Also no one would consume any production from companies.
2. 2. How did the recent recession start?
gf The current recession started with oil sky rocketing due to wars, also the high unemployment rate in british columbia of how minimum wage is only $8.50. Production rates went up such as food, house, transportation and many other things
d
C 3. How did the government take part following the event? Were/are there successful attempts?
D
- - Heavily taxed imports
-0 - Social services increase
df - Food Vouchers
During the recession of 2007 the government took the roles of:
- - Bailout's for large corporates
- Bankruptcy prevention programs
- Employment increases
- Stabilizing real estate market
4 4. What factors are present now that were not present during the great depression? (banking, online resources, etc)
w Televisions, medical care, government support, Internet services, Cell phones, Better transportation and many more.
5. How did these two affect United States’ GDP?
When the stock market crash on October 24 , 1929, when 12.9 million shares of stocks were sold in one day. Share prices fell 15-20%. So therefore majority of the people hang on to there money instead of spending it.
Reflection: in your own words tell me which one has made more of an impact on the world.
The Great depression showed alot more impact to the world compared to now. The reason for that was because it lasted for 10 years. While if its compare to now things would be easily fixed.The great depression caused a 25% increase to unemployment rate, and wages for people were lowered by 35-40% which is alot. The government did not do anything about it because they didn't know what to do compared to now eventhough if a recession occured everyone will still earn what they are making now.
Monday, April 4, 2011
Chapter 6 First round Canucks playoff tickets sold out
Summary
From the past years till now canucks playoff tickets has been a top seller. It did not take long at all for the first round playoff tickets to be sold out. "This is the hottest ticket since the gold medal game for the Olympics," says Kingsley Bailey with Vancouver Ticket Service. The reason for that is because this year the Vancouver canucks setted many records, such as breaking there old season record of 105 points and winning the president trophy. Which is the best within the hockey league. The people that purchased the tickets are reselling it at a cost of $250 a ticket which they are profiting about $100-$150. The reason for that is because people do not care about the final price of the ticket. They also predicted that stanley cup final games would range about $1,500-$2,000 a game.
Connection
I think the ticket buyers are really smart because they know that people would all go crazy over the playoff tickets if they can't manage to purchase one of them. Therefore it would lead to a higher demand for many people which are serious for purchasing those playoff tickets. As you can see the company is already profiting alot off playoff tickets. Which is a good success for the buisness already so they do not really care about the re-sellers. Because if the Canucks manage to last long in the playoffs they would make millions of dollars just by selling tickets.
Reflection
This didn't surprise me at all because as you can see people are crazy over watching canucks game. Fans around vancouver fly around everywhere in the states just to see a game of the vancouver canucks. So people are actually willing to pay thousands of dollars just for a regular season game. I honestly think that if re-sellers are planning to sell it at a even higher price such as $300 dollars a ticket to desperate people they would still purchase it. If i had the money to invest in the opening round of the playoff tickets i'll probaly buy a mass amount of tickets. Because i'm sure in the end most of the tickets i purchased would be sold for profit.
From the past years till now canucks playoff tickets has been a top seller. It did not take long at all for the first round playoff tickets to be sold out. "This is the hottest ticket since the gold medal game for the Olympics," says Kingsley Bailey with Vancouver Ticket Service. The reason for that is because this year the Vancouver canucks setted many records, such as breaking there old season record of 105 points and winning the president trophy. Which is the best within the hockey league. The people that purchased the tickets are reselling it at a cost of $250 a ticket which they are profiting about $100-$150. The reason for that is because people do not care about the final price of the ticket. They also predicted that stanley cup final games would range about $1,500-$2,000 a game.
Connection
I think the ticket buyers are really smart because they know that people would all go crazy over the playoff tickets if they can't manage to purchase one of them. Therefore it would lead to a higher demand for many people which are serious for purchasing those playoff tickets. As you can see the company is already profiting alot off playoff tickets. Which is a good success for the buisness already so they do not really care about the re-sellers. Because if the Canucks manage to last long in the playoffs they would make millions of dollars just by selling tickets.
Reflection
This didn't surprise me at all because as you can see people are crazy over watching canucks game. Fans around vancouver fly around everywhere in the states just to see a game of the vancouver canucks. So people are actually willing to pay thousands of dollars just for a regular season game. I honestly think that if re-sellers are planning to sell it at a even higher price such as $300 dollars a ticket to desperate people they would still purchase it. If i had the money to invest in the opening round of the playoff tickets i'll probaly buy a mass amount of tickets. Because i'm sure in the end most of the tickets i purchased would be sold for profit.
Wednesday, March 2, 2011
BC leads in job losses, posts highest unemployment rate outside Atlantic Canada
Summary
From the past couple of years till now, B.C. has the highest unemployment rate all across Canada. In mid January, B.C. lost 9,100 jobs and was the only province to see significant job losses. Most of the Canadian provinces showed an increase in job gain. For instance, Ontario created 36,300 new jobs in January and Alberta created 21,600 new jobs. In January, B.C. unemployment rate rose to 7.8 percent, which was the biggest increase in the country. The president of the B.C. Federation of Labour, Jim Sinclair, states that B.C. is clearly behind all the other Canadian provinces and that other provinces are continuing to create new jobs to pull themsleves out of recession.
Connection
The article and textbook both explain how people are unemployed all around the world, especially in B.C. Both materials state that the high unemployment rate happen involuntarily. Most people are unemployed because they are lay off, not because they want to quit their jobs out of choices.
Reflection
I agree that B.C. has the highest unemployment rate because I know many people are unemployed in B.C. due to the shortest of jobs in the province. In my opinion, the reason that people are highly unemployed in B.C. is because there are too little jobs opportunities avaliable and too many people are unemployed and seeking for jobs. Also, some work places might whether hire one worker to perform two-three tasks as opposed to hiring two to three workers to perform the tasks, in order to cut costs. I think the governemnt should really use some of their budgets to help the people in B.C. to seek jobs, such as developing some more programs to help individual to land a job.
From the past couple of years till now, B.C. has the highest unemployment rate all across Canada. In mid January, B.C. lost 9,100 jobs and was the only province to see significant job losses. Most of the Canadian provinces showed an increase in job gain. For instance, Ontario created 36,300 new jobs in January and Alberta created 21,600 new jobs. In January, B.C. unemployment rate rose to 7.8 percent, which was the biggest increase in the country. The president of the B.C. Federation of Labour, Jim Sinclair, states that B.C. is clearly behind all the other Canadian provinces and that other provinces are continuing to create new jobs to pull themsleves out of recession.
Connection
The article and textbook both explain how people are unemployed all around the world, especially in B.C. Both materials state that the high unemployment rate happen involuntarily. Most people are unemployed because they are lay off, not because they want to quit their jobs out of choices.
Reflection
I agree that B.C. has the highest unemployment rate because I know many people are unemployed in B.C. due to the shortest of jobs in the province. In my opinion, the reason that people are highly unemployed in B.C. is because there are too little jobs opportunities avaliable and too many people are unemployed and seeking for jobs. Also, some work places might whether hire one worker to perform two-three tasks as opposed to hiring two to three workers to perform the tasks, in order to cut costs. I think the governemnt should really use some of their budgets to help the people in B.C. to seek jobs, such as developing some more programs to help individual to land a job.
Thursday, January 20, 2011
Chapter 4 Direct Tax
http://www.business-standard.com/india/news/direct-tax-collections-rise-19-in-apr-dec/421055/
Summary
This article tells us about how direct tax through the 9 months (April-December) of the current financial year increased 19.47 per cent to touch Rs 2,98,958 crore, compared with Rs 2,50,232 crore in the corresponding period of 2009-10. The finance minister wants us to maintain the same pace of growth, with which we will achieve the target of Rs 4,50,000 crore,” said a CBDT official. So from now on it is predicted that taxes would go up and contiunue to go up in the near future unless the governments make a change.
Connection
Not only about percentages going up in Crore in india, but how direct taxes are going up all around the country right now. It shows a huge inpact of how people are living right now, and how they are unhappy within what the government is doing. But as you can see the government isn't really helping the people but making it worse by supporting himselves funding things such as cancer research, resgistered retirement savings plan, school fees and many more. It might sound usefull but not many people are willing to waste there money for direct taxes because they might not need the benefits for what the government is offering to them.
Reflections
This is surprising to me because i never knew that in other places there are country experiencing the same problem as us. I'm frighten for the future of our people because taxes will rise in the future and because of that our future would suffer from this problem. If taxes are contiuning to increase and wages are not changing then there would be a major disaster in the future. Hense, taxes should not increase if it doesn't make a huge difference to the survival of humans, because even if it is meant to help people it may become the death of us in the end.
Summary
This article tells us about how direct tax through the 9 months (April-December) of the current financial year increased 19.47 per cent to touch Rs 2,98,958 crore, compared with Rs 2,50,232 crore in the corresponding period of 2009-10. The finance minister wants us to maintain the same pace of growth, with which we will achieve the target of Rs 4,50,000 crore,” said a CBDT official. So from now on it is predicted that taxes would go up and contiunue to go up in the near future unless the governments make a change.
Connection
Not only about percentages going up in Crore in india, but how direct taxes are going up all around the country right now. It shows a huge inpact of how people are living right now, and how they are unhappy within what the government is doing. But as you can see the government isn't really helping the people but making it worse by supporting himselves funding things such as cancer research, resgistered retirement savings plan, school fees and many more. It might sound usefull but not many people are willing to waste there money for direct taxes because they might not need the benefits for what the government is offering to them.
Reflections
This is surprising to me because i never knew that in other places there are country experiencing the same problem as us. I'm frighten for the future of our people because taxes will rise in the future and because of that our future would suffer from this problem. If taxes are contiuning to increase and wages are not changing then there would be a major disaster in the future. Hense, taxes should not increase if it doesn't make a huge difference to the survival of humans, because even if it is meant to help people it may become the death of us in the end.
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