Determinate sentences involve sentences that have a fixed or flat time (Jirard, 2009). Determinate sentences play a large part in the increasing number of individuals in prison, which, as you can imagine, puts more strain on prisons financially. In the past two decades, we have become increasingly “tough on crime” which has helped to decrease crime to a certain extent. According to an article in the New York Times (2008), the US has fewer than five percent of the entire world’s population, but almost twenty five percent of the world’s prisoners (Liptak & , 2008). The author of the article goes on to say that people in the US are sentenced to do time for crimes that would not produce such a sentence in other countries.
John majors government came into office after the downfall of Margret Thatcher, which ultimately created divisions within the party. Not only did the party suffer from the internal conflict but also faced the problems of the recession after the ‘Lawson boom’. In order to stabilise the economy he joined the ERM getting a good deal but ultimately resulting in ‘black Wednesday’ causing Major to raise interest rates to 15%. This was political suicide and he soon lost the support of the press we had once relied so much on to get re-elected in 1992. The housing market also plummeted leading to negative equity, which the majority of the working class could not afford resulting in the repossession of their houses combined with the drastic increase in unemployment Britain was in a mess.
The book Dumb Money, written by Daniel Gross describes the era of “Dumb Money” and even “Dumber Money” causing the credit bubble that occurred prior to the 2008 financial crisis. Gross explains that it wasn’t “skeezy money managers” that caused the recent financial tsunami, but rather Ph.D. economists, central bankers, CEO’s and investment bankers. Gross reveals that the four factors that precipitated the Dumb Money era were low decreasing interest rates, increasing asset prices (real estate in particular), plentiful borrowers, and a strong debt market. He explains that due to the “shadow banking system” American financial culture was too fixated on short-term gains rather than long-term gains and encouraged excessive borrowing, lending, and trading. Gross criticizes
The Fiscal Cliff Allison Stewart, Khristy Parham, Ronnie Adger, Steve Fincher ECON 2003 Mr. Alfred Bundrick January 8, 2013 The phrase “Fiscal Cliff” has been in the news for months but many U.S. citizens are not sure what this means or how it will affect them. With the president and both parties of congress blaming the opposing party for the economic situation that the nation now finds itself in, it is understandable that people are confused. However, the fiscal cliff is a real danger to an already weak U.S. economy and if not handled properly, could send the nation spiraling into a deep recession. To understand the economic conundrum the nation is facing the term Fiscal Cliff must be defined and, if allowed to occur, what impact will
It did not monitor interest rates to help regulate the economy when overproduction and inflation had started to cause unemployment in 1928-29 and the economy seemed likely headed toward collapse. The Federal Bank also did not stop small banks from giving bad loans or from purchasing bad or high risk stock. High tariffs in the 1920s hurt foreign trade and prolonged the depression when it had hit. When Many other nations blamed the US for their economic collapse in 1929 claiming that the high US tariffs helped create their
This means that the prices for stock were too high, far higher than they were really worth, then they fell drastically. People who had borrowed money to buy high-priced stocks (intending to sell the stocks at a profit and repay lenders), went bankrupt. That’s further expounding on what I said about buying on margin. Black Tuesday also marks the beginning of the great depression (Regan3). Living conditions during this time were unsanitary and horrible.
Our fast growing industrial way of life was slowly weakening our economy. Most citizens were investing in the stock-market and getting loans from banks that they couldn’t repay. Americans trusted in their economy, due to its illusion of security. However, this wasn’t the case for very long. The crash happened sometime
42-56 Topics: Using Memoir p. 42 Chapter 5 pp. 63-76 Topics: Using Profile p. 63 Chapter 6 pp. 84-99 Topics: The purpose of vivid detail and figurative language pp. 93-94 The purpose of review p. 84 Chapter 8 pp. 143-161 Topics: The purpose of a rhetorical analysis p.
Recently, the market is on an uptake with its improving stocks & bonds. The light in a year-plus-long tunnel is bringing both hope and realization. The market improvement is also shedding a truth on a troubling facet of the economy, the 401(K). The realization Stephen Gandel, of “Time Magazine”, has highlighted in his article “Why It’s Time to Retire the 401(k)” focuses on the sad truth that 401(K) is not effective and thus can not be relied on. 401(K) has become ineffective because of the corruption of big business, the misunderstanding of and as a result a mishandling of the 401(K) accounts, and its correlating dependency on the market’s success.
The economy is considered to be very unstable at the current time, and it is the duty of the United States government to do everything in their power to once again stabilize the once booming economy for the sake of the entire country and its citizens. Current Unemployment Rate Currently unemployment rates in the United Sates are a less than desirable 7.9%. Although, this number has decreased by 2.1% from its peak in recent years, it is still believed that there is a long way to go. Prior to the recession unemployment rates fluctuated between 4% and 6% (www.bls.gov, 2012). This increase in the unemployment rate is having considerable impacts on the economy.