Housing Bubbles Causes and Impacts on Credit Crisis

Housing Bubbles Causes and Impacts on Credit Crisis Introduction It is vital for a writer to comprehend and appreciate the use of rhetorical strategies when compiling any rhetoric piece of work. Hence, the ideas and perspectives of the author can only be expressed when rhetoric strategies are applied in a given piece of work.Advertising We will write a custom report sample on Housing Bubble’s Causes and Impacts on Credit Crisis specifically for you for only $16.05 $11/page Learn More As such, an author might employ various rhetorical tools depending on the purpose of writing the given piece of information. For instance, some authors may employ logos when they need to represent some statistics, solid evidence or facts. In some instances, ethos may be employed in a piece of writing to demonstrate various levels of credibility. The paper that I will analyze in this case was written way back in 2008. The paper is entitled A Summary of the Primary Causes of the Housing Bubble and the Resulting Credit Crisis : A Non-Technical Paper and written by Jeff. Holt. The author has worked as the Director for Undergraduate Programs, Department of Statistics at the University of Virginia. This paper aimed at demonstrating how the housing bubble led to credit crisis of 2007. The author was very formal throughout the article. He employed the third person point of view and presented facts and ideas in their empirical forms. In this paper, I will be exploring the rhetoric appeals and strategies that were used by the author when writing the journal article. Audience The intended audiences for this article are the financial business scholars and especially students who are undertaking business related courses at higher levels of learning. This can be judged from the content and arguments presented in the article. However, this paper was written with the instructor in mind. Even though my fellow classmates would benefit from the rhetorical analysis portrayed in the paper, the author was very keen in meet ing the needs of the audience. The author intended to address the paper to all those interested in business concept. From the title of the journal, it is evident that it is a â€Å"non-technical paper†. Therefore, quite a wide array of readers can understand the content of the paper. Purpose The main purpose for writing this piece of assignment was to demonstrate to my instructor that I was indeed in a position to read, understand and rhetorically analyze a formal article using persuasive arguments. In addition, the assignment was also meant to test my critical thinking and analytical skills through a piece of writing. The author analyses the key reasons why the housing bubble occurred. From his analysis, I was able to write a clear yet detailed rhetorical analysis based on the journal article.Advertising Looking for report on rhetoric? Let's see if we can help you! Get your first paper with 15% OFF Learn More Context This is a class that we are usuall y tested on the ability to read, understand and analyze literary content. We were supposed to write a rhetoric analysis paper as part of class assignment given by our professor. We were also required to choose an appropriate article to analyze with the assistance of our instructors. In my case, I chose an online journal article entitled A Summary of the Primary Causes of the Housing Bubble and the Resulting Credit Crisis: A Non-Technical Paper and written by Jeff. Holt. The instructor also gave out the direction for constructing a rhetorical analysis paper using the triangle technique. The thesis of the paper was to investigate and demonstrate how the housing bubble led to the credit crisis of 2007 by exploring the rhetoric appeals and strategies that were used by the author when writing the journal article. Style The journal article was written using a formal style throughout the pages. The arguments and facts presented are also formal in nature. For instance, the author cites othe r accredited authors throughput the text. The author also used APA style for his references. Based on the content and purpose of the paper, I was supposed to write it using a formal style. In fact, I used formal citations in MLA style. This was necessary because the task was meant to test my ability to communicate, analyze and articulate ideas obtained from a formal document. Organization The paper was organized into three main parts with sub-sections as well. These were the introduction, six body paragraphs and a conclusion. Besides, a works cited list was included at the end of the paper. In the introductory part, sub-sections and sub-headings were used in order to make it easy for the reader to follow. The body had two major sections with each section sub-divided into three sections each containing a subheading. Rhetorical appeals Logos This can be defined as the use of logical appeals when presenting reasons, ideas, reasons, and facts and so on. Logos play the role of persuading the targeted audience to agree with the perspectives of the author. One of the Logos used by Holt is statistics. For instance, what caused the housing bubble? Housing prices were rather stable during the entire decade of the 1990s. For a period of about 8 years (1990-1997), homes prices recorded a marginal rise of 0.8%. The audience can logically understand the reason why the Federal Reserve funds rate had been lowered to about 1.25% before the start of 2003 and up to one percent by June 2003. In addition, it is also evident that the housing bubble caused a major instability in the mortgage market since the interest rates were grossly affected. Pathos Pathos tends to address emotional appeals presented in any piece of writing. Holt observes that â€Å"even though the U.S. savings rate was low during the housing bubble, an influx of saving entering the U.S. economy from countries such as Japan and China helped to keep mortgage interest rates low† (121). This implies that the credit crisis was occasioned by the immense housing bubble.Advertising We will write a custom report sample on Housing Bubble’s Causes and Impacts on Credit Crisis specifically for you for only $16.05 $11/page Learn More The audience is in a position to acknowledge why the low mortgage rates of interest affected the short-term interest rates. During the entire period associated with housing bubble, the loans were advanced to borrowers in the most favorable manner since the terms and conditions were not very strict. Moreover, the author asserts that â€Å"mortgage interest rates were falling despite the low savings rate in the U.S. because of an influx of saving entering the U.S. from other countries† (Holt 121). In this case, he has used irrational exuberance to appeal to the emotional need of the audience when expounding the main pathos in the article. For example, irrational exuberance played a major part in housing bubble and consequent cre dit crisis since it entailed a lot of speculation in the mortgage industry. The author has managed to appeal to the audience by asserting that all the players who took part in the mortgage borrowing and lending assumed or speculated that home prices were bound to rise in the near future. In any case, home prices had never went down since the Great Depression era and therefore, all the major parties believed that such prices would never go down. Even the government regulators never made any attempt to control the rising prices for homes. The author has made it clear by asserting that investment bankers were also very keen in issuing mortgaged backed securities that were highly leveraged. Therefore, it may not be easy to recognize or even control irrational exuberance that accompanies price bubbles bearing in mind that housing was a pretty investment before the crisis began. Ethos The persona of the author usually reveals the ethos appeals portrayed in a piece of writing. This informa tion is also contained in the course reader. It is the targeted audience that is supposed to depict the persona of the author. In other words, ethos can only appeal if the writer demonstrates adequate know-how of the information presented in an article, book or any other form of literature. Although the author has not put down his academic credentials, it is evident that he has vast knowledge in this subject area. For example, he demonstrates that the â€Å"standards for mortgage loans were relaxed as a result of the following factors: new governmental policies aimed at fostering an increase in home-ownership rates among lower-income households†¦Ã¢â‚¬  (Holt 124). When the terms and conditions of borrowing from the mortgage market were made more lenient, it became extremely easy for predict the condition of the market. Holt (120) also reiterates that â€Å"much of the financing that fed the housing bubble came from the unregulated â€Å"shadow banking system†. The tar geted audience can clearly relate the housing bubble and the role of banks in the whole mess. The unregulated system was highly leveraged.Advertising Looking for report on rhetoric? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, a deleveraging cycle was later subsequently created by the banking system which was unregulated. Eventually, this scenario triggered and worsened the credit crisis. Hence, there was panic within the banking system. Hence, lenders were greatly hampered in terms of screening borrowers. Most of the lending was advanced to individuals without verifying their credit worthy levels. Nonetheless, research studies are yet to be undertaken to determine the actual cause and effect of the housing bubble in relation to credit crisis These are fine details that cannot be given by an individual who is not a specialist in that area. Since he has worked at the department of statistics, he must be knowledgeable enough. Rhetorical analysis Comparison and contrast The author has managed to develop similarities and difference between the housing bubble and credit crisis. According to Holt, â€Å"even though the U.S. savings rate was low during the housing bubble, an influx of saving†¦help ed to keep mortgage interest rates low† (121). In terms of reduced interest rates that were being advanced for buying houses, the author notes that huge savings from foreign investors managed to keep the interest rates as low as possible. The audience is in a position to understand that savings obtained from worldwide sources provided minimal risk environment for investors. Borrowers ended up with huge borrowed amounts from various financiers in the mortgage market. By 2006, the influx of foreign savings in the US market had peaked to about six percent of the Gross Domestic product (GDP) compared to 1.5 percent way back in mid 1990s. Another comparison and contrast is evident where the Holt affirms that â€Å"investors in these countries sought investments providing low risk and good returns† (122). The author also observes that â€Å"home prices were still 57 percent higher than they had been in the 1 quarter of 1997† (Holt 121). Exemplification The author has u sed several examples to illustrate various assertions and points in the article. He observes that â€Å"For example, the monthly principal and interest payment on a $200,000 30-year fixed rate mortgage with an interest rate of 6 percent would be about $1,200† (Holt 123). Moreover, the author notes â€Å"for example, suppose XYZ Company invests $10 million in mortgage-backed securities (Holt 123). There are several illustrations with examples in the article. In case of any eventualities, these enterprises would be bailed out by the federal government. Cause and effect When the cause and effect tool is used well, it can significantly assist a writer to organize ideas in a holistic manner. For instance, there are several causes and effects for reduced interest rates on short term loans. Due to the 2001 recession, the Federal Reserve was compelled to lower the federal funds rate. This action aimed at strengthening the US economy which was already ailing (the cause part). Althoug h this rate was marginally increased in 2004, it remained stable for about three consecutive years (the effect part) The reduced short-term rates of interest are believed to have contributed towards the hosing bubble in two main perspectives. Hence, several home buyers did not prefer fixed rate mortgages since they were not favorable. Conclusion From this rhetoric analysis paper, I have acquired a lot of knowledge on how various tools work for writers when presenting ideas on paper. Before the housing bubble could fully develop, the rates for mortgage loans were rather stable. In addition, the main purpose of writing this article was to demonstrate my ability to read, understand and write a rhetorical paper based on the analysis of a given text. From the journal article on housing bubble, the author offered a detailed description of why the housing bubble in the United States contributed to the 2007 credit crisis. Finally, the author suggested that the housing bubble was caused by v arious factors such as fair interest rates and irrational exuberance. Holt, Jeff. A Summary of the Primary Causes of the Housing Bubble and the Resulting Credit Crisis: A Non-Technical Paper. The Journal of Business Inquiry 8(2009): 120-129. Print.

Instructions for a Common Activity. Preparing and Serving a Dinner for Assignment

Instructions for a Common Activity. Preparing and Serving a Dinner for 6 persons - Assignment Example Anyone would love their friends come over for dinner but at most times feel intimidated by the labor that goes into it. However, planning and preparation well ahead in advance not only makes hosting a dinner much easier but also a thrilling experience. Given below are the instructions of how to go about hosting a dinner for six persons. Instructions By following instructions step by step we not only find that a job becomes easier but it avoids a lot of confusion and makes it more methodical and systematic. Step -1 – Cleanliness is of utmost importance and therefore the kitchen, the dining table and the surroundings should be thoroughly cleaned with disinfectant. Step - 2 – Utensils and food stuff should be washed thoroughly before making use of them. Serving dishes should be washed well and dried with a clean towel before using them to serve. Step – 3 – The Menu should be made out well in advance and the ingredients for preparation should be purchased at l east a day ahead of the dinner and that includes even the desert. Step- 4 - Menu – Preparation of Chicken Fried rice, Chicken fry and Caramel custard. To serve – 6 persons Things needed – 2 Kgs. of chicken, 1 Kg. rice, 100 gms. each of carrot, beans and peas, 4 big onions, ? kg. tomatoes, saffron, ginger and garlic paste, spices, hot chilly peppers, ground pepper, oil, green coriander and salt to taste. For the Caramel custard we need 4 eggs, 2 cups of milk, 200 gms. of sugar and few drops of vanilla and a dash of nutmeg. Step 5 - Preparation 1. Chicken Fried rice: Wash the rice thoroughly and keep aside. Boil the chicken after washing with a little salt and ? teaspoon of saffron. Remove ? kilo and once again saute in a pan with either oil or ghee. When cool, shred and keep aside. Chop 2 big onions and 4 tomatoes and keep them covered in separate dishes. For the vegetables a grater could be made use of or chop them finely lengthwise after washing them. Heat 3 to 4 tablespoons of oil in a medium sized utensil and when hot enough put in the onions and fry till golden brown. Add ? a teaspoon of saffron and stir. Put in the tomatoes and diced vegetable and fry well. When cooked well put in the shredded chicken, some spices and diced chilly peppers with sufficient salt to taste. Cover and let it simmer well for 5 mins. Put in the washed rice and pour 10 cups of water. Cover with a lid and cook for another 15 mins. Serve while hot. Chicken Fried Rice 2. Chicken Fry: Heat 4 tablespoons of oil in a deep pan. Toss in the diced onions and fry till golden brown. Put in ? a teaspoon of turmeric powder and stir. Add15gms. of ginger - garlic paste and fry well. Put in 1 teaspoon of red chilly powder and ? a teaspoon of black pepper and fry them well. Toss in the diced tomatoes with sufficient salt and fry well. Finally add the pre-cooked chicken and mix well in the masala after adding sufficient salt. Cover the vessel and cook again for about 10 to 15mi ns. Garnish it with finely chopped green coriander leaves and serve while hot. Chicken Fry 3. Caramel Custard: In a baking dish heat 3 to 4 tablespoons of sugar till it melts and gets burnt and spreads evenly at the bottom and sides of the dish. In another dish beat the eggs, milk, sugar and Vanilla essence well till the sugar dissolves completely. Gently strain this mixture into the dish with the burnt sugar. Scrape a little nutmeg powder over the top of the mixture and cover the mouth of the deep pan with butter paper. Place this dish in a pressure cooker and cook for 10 mins. Serve while cool. Caramel Custard Caramel custard could also be served with ice-cream, strawberries or fresh fruit. www.ifood.tv/network/caramel_custard/photos How to set a Dining Table for 6 persons In order to make a good impression it is

Operations Management Coursework Example | Topics and Well Written Essays - 3250 words

Operations Management - Coursework Example This study will firstly reflect upon the strategic business focus of both these firms. Nando’s and WAGAMAMA have different business strategy and target market. Their operations are mainly related to acquiring raw materials from suppliers, processing food, taking order from customers, delivering food items, checking payment details and maintaining high levels of customer satisfaction. These internal operations are similar for both the firms. Lead time is another issue discussed in this particular study. It has been stated that lead time should be less in case of restaurant business since it affects the operation flow. Quality management has been indicated as the prime focus for both the firms. Nando’s and WAGAMAMA take proper actions to sustain high quality level ranging from dealings with suppliers to product delivery. A process flowchart has been drawn for both the firms including a physical layout for the selected restaurants. The study also includes certain recommend ed solutions for the firms which shall help to address certain operation management issues witnessed by Nando’s and WAGAMAMA. Main focus of the study is on inventory control, demand planning and importance of safety stock in restaurant business. Operations management is a kind of management associated with controlling, overseeing and designing production process. It involves redesigning wide array of business operations in production of services and goods. The concept encompasses responsibility of ensuring that there is efficiency in business operations. Optimization of resources is a major concern in dimension of operations management. Fulfilling customer requirements is also taken into consideration in this approach. Operations management is concerned with managing the overall process through which inputs are successfully converted into outputs. Inputs are usually in the form of raw materials, energy and labour. Output is in the form of services or products.

The green revolution Essay Example for Free

The green revolution Essay The green revolution was the worlds introduction to modern agricultural and a time of vast improvements in the worlds fight in hunger. New technologies such as hi yield variety seeds Chemical fertilizer and agricultural machinery lid this revolution and are still a big part of the way we produce food for the world we live in today. The green revolution saved A lot of small developing countries throughout the world. Food is now a mass produced all around the world in fields and distributed to countries in need as well as countries whos people are willing to pay for foreign and exotic foods. The green revolution has one enemy, The reproductive rate of the human species is exceeding the rate and which we can make food to feed it.

Comparing Social Commentary in Dover Beach, Second Coming, and Church Going :: compare and contrast essay examples

Comparing Social Commentary in Dover Beach, Second Coming, and Church Going Human society has always struggled with the conflict of faith versus technology. Faith has always been a symbol of order, and increasing technology has always been the scapegoat for "mere anarchy." When faith ebbs, technology or new scientific concepts are blamed. Technology is a convenient target because when people lose faith in the church, science is a hard-based, factual thing in which to believe. The increasing chaos in society can be blamed on the decreasing faith in religion that has been shifted to technology. After the fall of the Roman Empire, European society was in chaos. Since no other civilizing force in which to believe was in existence, when the Roman Catholic Church made itself a organizing power, it set up a precedent that attached itself to the mind set for the next few centuries. Religious beliefs are synonymous with the "calm" and the peace that relieve life's turmoil. For a long period of time, there was no other steadying force, so "the Sea of Faith" was the sole source for easing "the turbid ebb and flow of human misery." Tradition has kept this view of religion popular. Still, religion itself cannot hold the attention of human society forever. Eventually, as displayed in "Dover Beach," faith in religion and its structure will fade in the light of new ideas and new human inventions. Society's faith cannot always be "full" because as civilizations grow individuals become more independent. They begin to think for themselves, which causes life to become more subjective. With less imposed structure, individuals will determine that they do not subscribe to all of what their predecessors believed, and they are left "wondering what to look for." Technology often replaces religion because it is far more tangible than the concepts of organized religion that require blind faith. It is easier to believe in something touchable. In "Church Going," this attitude is examined. A wistfulness for a time when faith came easier is apparent, but there is also "an awkward reverence" for the ways of religion even if they are no longer believed. Once people place their faith in technology rather that something spiritual, they will find that while technology is concrete, it does not provide guidance for social behavior or the human spirit as most religions do. In "The Second Coming" the world is spinning out of control.

Mumtaz Mahal

Arjumand Banu Begum  (also called  Mumtaz Mahal) was the third  wife  of  Shah Jahan. Mumtaz Mahal (meaning ‘Jewel  of the  palace') was the  nickname  her husband gave to her. Mumtaz Mahal was born in  April  1593  in  Agra, India. Her father was the  Persian  noble  Abdul Hasan Asaf Khan, the brother of  Nur Jahan. Mumtaz was a  Muslim  and fell in love with and married her cousin,  Shah Jahan, later to be the Mughal emperor on  May 10,  1612  at the age of 19. She was his third wife, and became his favorite. Shah Jahan and Mumtaz Mahal were married for 19 years. They had thirteen children together. Seven of the children died at birth or at a very young age. Mumtaz travelled with Shah Jahan and his army as he carried out  military campaigns. Mumtaz Mahal supported Shah Jahan and they respected each other very much. Mumtaz Mahal died on  June 17,  1631  in Burhanpur in the Deccan (now in  Madhya Pradesh) during the birth of their fourteenth child, a daughter named Gauhara Begum. She had been with her husband as he was fighting a campaign in the Deccan Plateau. Her body was kept at Burhanpur in a walled pleasure garden known as Zainabad. A popular story says that on her deathbed, her last wish to the emperor was for a  symbol  or a  monument  to their love. She also asked her husband not to marry anyone else. The emperor promised immediately. Her body was buried in the  Taj Mahal  in Agra. After she died, Shah Jahan went into  mourning  for a year. When he appeared again, his hair had turned white, his back was bent, and his face worn. Jahan's eldest daughter, Jahanara Begum, slowly brought him out of mourning and took the place of Mumtaz at court.

Dromiceiomimus - Facts and Figures

Name: Dromiceiomimus (Greek for emu mimic); pronounced DROE-mih-SAY-oh-MIME-us Habitat: Plains of North America Historical Period: Late Cretaceous (80-65 million years ago) Size and Weight: About 12 feet long and 200 pounds Diet: Probably omnivorous Distinguishing Characteristics: Relatively large eyes and brain; long legs; bipedal posture About Dromiceiomimus A close relative of the North American ornithomimids (bird mimic dinosaurs) Ornithomimus and Struthiomimus, the late Cretaceous Dromiceiomimus may have been the fastest of the bunch, at least according to one analysis of this theropods unusually long legs. At full tilt, Dromiceiomimus may have been capable of hitting speeds of 45 or 50 miles per hour, though it probably stepped on the gas pedal only when it was being pursued by predators or itself in pursuit of small, skittering prey. Dromiceiomimus was also notable for its relatively large eyes (and correspondingly big brain), which matched up oddly with this dinosaurs weak, toothless jaws. As with most ornithomimids, paleontologists speculate that Dromiceiomimus was omnivorous, feeding mostly on insects and vegetation but pouncing on the occasional small lizard or mammal when the opportunity presented itself. Now for the catch: many, if not most, paleontologists believe that Dromiceiomimus was actually a species of Ornithomimus, and not deserving of genus status. When this dinosaur was discovered, in Canadas Alberta province in the early 1920s, it was initially classified as a species of Struthiomimus, until Dale Russell reexamined the remains in the early 1970s and erected the genus Dromiceiomimus (emu mimic). A few years later, though, Russell changed his mind and synonymized Dromiceiomimus with Ornithomimus, arguing that the main feature distinguishing these two genera (the length of their legs) wasnt truly diagnostic. Long story short: while Dromiceiomimus persists in the dinosaur bestiary, this difficult-to-spell dinosaur may soon go the way of Brontosaurus!