As I Grow Older I Pay Less Attention to What Men Say :: Teaching Education School Essays

As I Grow Older I Pay Less Attention to What Men Say During our careers as students, many professors, many peers, and many mentors will try to tell us the many different ways that we â€Å"should† teach. One person is going to tell us how some thing should be done, while someone else is going to insist that it be done differently. However, if you just sit back and actually watch these professors and these mentors, you are going to find that they sometimes forget to head the words of Jesus and practice what they preach. Through out my career as a student I have came across teachers who make learning fun and have a genuine love for teaching. However, I have also encountered those teachers who make you want to pull the fire alarm, just so you can avoid their endless ramblings. It is a teacher’s responsibility to keep students interested and eager to learn. If a subject intrigues a child they will want to learn more about it, and what they learn will stay with them for a life time. Sadker and Sadker (2003) identify Idealists as teachers who: know the content very well, view teachers as role models, values each student as an individual, and who have very few discipline problems that result in trips to the principals office. The above are reasons that I would like to take and Idealist approach to teaching. I want to become a teacher because I want to be able to turn on CNN one day and say, â€Å"you see that young man boarding Apollo 45, I showed him that science could be fun.† Being a teacher is comprised of many duties and responsibilities. From day one we must take into account all of the things necessary for becoming a good teacher. The various components of an organized classroom, the different ways of motivating our students, the appropriate ways of disciplining our students, the different styles we will incorporate into the way we teach and the leadership styles necessary for being an effective mentor. First of all the organization of ones classroom is one of the most important factors that we must take into account. We must plan exactly how we want the room to look, and more importantly how we want it ran. A classroom for an elementary teacher needs to be bright and cheerful.

Quantitative Easing

Evan Schrager 11/14/2011 Quantitative Easing Research Paper The term  quantitative easing  (QE) describes a process in which the Federal Reserve expands its balance sheet through purchasing back government bonds from financial institutions with electronically created funds. The government purchases, by way of account deposits, give banks the excess reserves required for them to create new money by the process of  deposit multiplication  from increased lending in the fractional reserve banking system. As the supply of medium and long-term government bonds decreases, their prices increase. This leads to a decrease in their yield; yields are often a determinant of long-term interest rates, mortgages and most business lending. Since it is easier for individuals to borrow money, consumer wealth increases, which leads to investment and consumption increases as well. Risks include the policy being more effective than intended, spurring  hyperinflation, or the risk of not being effective enough, if banks opt simply to pocket the additional cash in order to increase their capital reserves in a climate of increasing defaults in their present loan portfolio. In the quantitative easing process, the Fed goes to a network of dealers, in search of Treasury bonds. The Fed buys the bonds in a competitive bidding process between the approved bond dealers. The Fed takes a bond certificate and gives the dealers freshly printed US dollars. The transactions are done electronically, but it is still referred to as printed money. The US  Federal Reserve  held between $700 billion and $800 billion of Treasury notes on its balance sheet before the current recession. In late November 2008, the Fed started buying $600 billion in  Mortgage-backed securities. By March 2009, it held $1. 75 trillion of bank debt, MBS, and Treasury notes, and reached a peak of $2. 1 trillion in June 2010. The primary dealers can offer to sell the Fed bonds held by their clients. The newly printed money moves from the Fed, to the dealer, to the client’s brokerage account. Cash is moving directly into the real economy. The customer can buy another bond, buy stocks, use it at the grocery store, or simply keep the cash. Right now, however, cash is earning next to nothing, so investors are motivated to find alternative stores of value. They are motivated to spend or invest their cash. With an ongoing battle taking place between inflationary and deflationary forces in the economy and financial markets, it is extremely important for investors to understand how â€Å"quantitave easing† programs will impact their investments and their long term purchasing power. Since quantitative easing represents a threat to our wealth based on its potential adverse impact, this topic warrants serious attention above and beyond a boilerplate analysis. Common references to â€Å"cash sitting at banks† will give investors a poor read on what quantitative easing is and the possible ramifications for our portfolios and the economy. In order to put QE in context, I will discuss the Japanese deflationary spiral of the ‘90s. Japan suffered from stagflation throughout the 1990’s, so the Bank of Japan instituted a quantitative easing program of its own, referred to as QEP. The QEP consisted of three key elements: â€Å"(1) The BOJ changed its main operating target from the uncollateralized overnight call rate to the outstanding current account balances (CABs) held by financial institutions at the BOJ (i. e. , bank reserves), and ultimately boosted the CAB well in excess of required reserves. 2) The BOJ boosted its purchases of government bonds, including long-term JGBs, and some other assets, in order to help achieve the targeted increases in CABs. (3) The BOJ committed to maintain the QEP until the core CPI (which in Japan is defined to exclude perishables but not energy) stopped declining. † The effect of the Bank of Japan’s liquidity injections on bank lending was muted by the substitut ion of central bank liquidity for interbank liquidity. Second, despite the dampening of the stimulus from the liquidity injections due to this substitution, there was a positive and significant effect of liquidity on bank lending. This implies that quantitative easing can affect the supply of credit, particularly during periods of financial stress. However, the overall effect was fairly small, so that huge amounts of liquidity would have been needed to achieve noticeable effects. Third, weak banks benefited more from QEP than stronger banks. However, â€Å"the rapid unwinding of liquidity infusions observed at the conclusion of QEP had little impact on lending growth once bank health and confidence in the banking system had been restored. † It is possible that QEP exerted ositive effects, but that these were simply overwhelmed by the drag on total spending coming from weakness in the banking sector and balance sheet problems among households and firms. Since there are a number of ways that QEP may have stimulated spending, we can infer that the QE programs in the United States will stimulate some spending as well, but perhaps we will overestimate the effects just like Japan did years ago. When you consi der some of the world’s largest sovereign wealth funds may participate in QE, you can understand the potentially broad impact of the Fed’s actions. The largest ones control billions of dollars. With the currency risk involved when foreigners hold treasury bonds, it is not a stretch to believe that some sovereign wealth funds will be interested in selling some of their treasuries to the Fed in exchange for newly printed US dollars. They may also quickly exchange the cash for gold, silver, copper, oil or stocks to reduce their currency risk. Fears of future inflation can make cash unattractive in the eyes of investors and consumers. A big part of the Fed’s approach is to increase the expectations of future inflation since it can change the investing and buying habits of businesses and consumers. Since there are many unknowns, and many moving parts, listen with skepticism to anyone who claims to know the long term impacts of QE programs on both the financial markets and the economy. † We need to better understand the QE process, and monitor and assess the market’s reaction to details as they are released by the Fed. We must be willing to make inflationary a nd deflationary adjustments based on market internals and economic data. Adopting a â€Å"QE will work or won’t work† approach in advance would be highly speculative. Flexibility is always important in the markets, but maybe more so when it comes to the possible long term impacts of QE. This newly printed money will find its way around the globe, impacting currencies, commodities, and foreign stock markets. According to Brian P. Sack of the NYFRB, â€Å"The effect of asset purchases on the economy remains a point of ongoing debate, with some uncertainty about the channels through which such purchases operate and the magnitude of those effects†¦ In particular, by purchasing longer term securities, the Federal Reserve removes duration risk form the market, which should help reduce the term premium that investors demand for holding longer term securities. That effect should, in turn, oost other asset prices, as those investors displaced by the Fed’s purchases would likely seek to hold alternative types of securities. † â€Å"Nevertheless, balance sheet policy can still lower longer-term borrowing costs for many households and businesses, and it adds to household wealth by keeping asset prices higher than they otherwise would be. It seems highly unli kely that the economy is completely insensitive to borrowing costs and wealth, or to other changes in broad financial conditions. † Notice the references to â€Å"boosting asset prices,† and â€Å"lowering borrowing costs,† and â€Å"adding to household wealth by keeping asset prices higher. From Mr. Sack’s perspective, the Fed buys intermediate term treasuries, which drives down the yield for new investors. Mr. Sack hypothesizes that those new investors will decide to purchase other bonds, perhaps with longer maturities as they search for higher yields. As the Fed pushes demand to other areas of the bond market, longer term interest rates would fall. As new investors look at their options, they may decide to purchase other high yielding assets since the Fed’s actions have made yields on more conservative investments unattractive. Since the Fed promises to remain in the market with QE for an extended period, the risk associated with holding stocks, higher yielding bonds, commodities, precious metals and real estate are reduced. If you think in extremes, if the Fed stated that all treasuries would pay no interest for the next 5 years, investors would move into investments with more risk in search of higher yields. A good way to summarize QE is as follows: QE attempts to lower long term interest rates, keep them low for a pre-defined period of time, while pouring cash into the economy in an effort to boost consumption and investment. Like gold, US dollars have value only to the extent that they are strictly limited in supply. The government has technology that allows it to produce as many US dollars as it wishes at essentially no cost. By increasing the number of US dollars in circulation, or by threatening to do so, the US government can reduce the value of a dollar in terms of goods and services, which is the same as raising the price in dollars of those goods and services. Thus, we can conclude that, under a paper money system, a determined government can always generate higher spending and hence, positive inflation. The important takeaway is the concept, which is to print money, and devalue the purchasing power of US dollars in your wallet/bank account. Based on the government and Fed’s extreme actions during the financial crisis, it is safe to say that we have a determined government. Investors cannot underestimate how determined our government will be, in terms of â€Å"how much money are they willing to print? † and â€Å"what assets are they willing to buy? † For example, if buying T-bonds doesn’t work, what prevents them from moving to corporate bonds, stocks, residential housing, or commercial real estate? That sounds extreme, but five or six years ago, having the Fed buy treasury bonds or having the government take over AIG seemed extreme. But that happened right before our eyes. A problem around the globe is weak balance sheets from consumers to corporations to municipalities all the way up to the United States’ assets and liabilities ledger. There are two ways to address weak balance sheets. You can attack the asset side or the liability side. During recessions, bad debt is removed from the system when entities go out of business, defaulting on their debts. This is a painful part of a recession, but is necessary to allow capital to reform, which eventually leads to new investment and sustainable economic growth. The hard way to address our problems with balance sheets is to let those who deserve to fail go out of business. Unfortunately for the country’s long term outlook, the hard way, or short term pain, does not sit well with those in positions of power—especially politicians, who are always concerned about the next election. This is a huge flaw: we need to think in terms of what is best for the future of our country instead of thinking in the short term. If we need to reduce our standard of living in order to combat the national deficit, then so be it. Americans need to stop complaining about the recessionary conditions and must make sacrifices now in order to guarantee future standards of living. In order to understand all of the bailouts, government takeovers, and money printing, you basically need to think about powerful people in business and government who are simply trying to stay in power, regardless of whether or not their actions are in the best long term interest of shareholders, taxpayers, and ordinary hard working citizens. These comments do not apply to the select few in positions of power who still make decisions based upon sound principles and integrity, but most politicians do not. I’ll stay away from this topic because it is a political issue, but quite relevant so I felt it was worth mentioning. In a healthy credit market, banks lend while consumers and businesses borrow to invest and consume. Demand, based upon available credit, boosts asset prices and profits. As asset prices rise, balance sheets strengthen. With healthy balance sheets, businesses and consumers feel wealthy, and borrow more, invest more, and consume more. This is known as the wealth effect. As asset prices rise, the collateral backing the loans remains sound, allowing the banks to lend even more, and around and around we go, until credit causes the creation of too much supply. A good example is the recent overbuilding in the housing market. Then asset prices begin to fall. Now the wealth effect becomes the reverse wealth effect, as consumers, businesses, and banks begin to see their net worth deteriorate. When the Fed lowers interest rates, they attempt to spur borrowing and lending. This, in turn, can get the wealth effect back into gear, as borrowed money creates demand for goods, services, and assets. In the present day, traditional banks are reluctant to lend, and many consumers either don’t want a loan, or cannot get a loan. In this environment, the Fed, via QE, is trying to spark the wealth effect by attempting to re-inflate asset prices. QE II refers to the decision in November 2010 in which the FOMC announced the purchases of 600 billion longer-term treasury debt. A fair question to ask is, â€Å"Why did we pursue QEII? There are several reasons the government went through with another round of QE. Firstly, the Japanese experience with mild deflation and a near-zero nominal interest rate has been poor. Second, inflation in the US was close to the implicit FOMC inflation target during the first part of 2010. However, during 2010, a renewed disinflation trend developed and the recovery slowed down in the summer of ’10. These developments leav e the US at risk of a Japanese-style outcome. Was QEII effective? The financial markets effects of QEII looked the same as if the FOMC had reduced the policy rate substantially. Specifically, real interest rates declined, the dollar depreciated, and equity prices rose. These are the classic financial market effects one might observe when the Fed eases monetary policy in ordinary times (in an interest rate targeting environment). The QEII experience shows that monetary policy can be eased aggressively even when the policy rate is near zero. However, it is difficult to observe the overall effects of QE and QEII because of the lags involved. Effects on the real economy would be expected to lag by six to twelve months. Real effects are difficult to disentangle because other shocks hit the economy in the meantime. This happened, apparently, during the first half of 2011, and is a standard problem in evaluating monetary policy. Overall, QE2 has shown that the Fed can conduct an effective monetary stabilization policy even when policy rates are near zero. Now I will discuss investment strategies for inflationary and deflationary outcomes of quantitative easing. Inflationary and deflationary forces coupled with possible Fed intervention require a flexible approach to financial markets. Common sense tells us that money printing is probably not the path to long term prosperity, but I do believe QE can impact asset prices in a manner not fully understood by many individual investors as well as many financial advisors. If the Fed is successful for a period of time, I would invest in inflation friendly and weak-dollar assets such as gold, silver, copper, oil, and emerging market stocks. If the Fed fails in the long run, then a deflationary spiral may be the outcome, making cash, gold, dividend payers, conservative bonds, and CDs attractive. Middle of the road choices include utilities, consumer staples stocks, and other dividend payers. Financial markets tend to anticipate Fed announcements. We always have to be on our toes for information/news relevant to QE. If you read the writings of Ben Bernanke and more recently writings by James Bullard, you know the Federal Reserve is willing to use every tool and printing press in their arsenal in attempt to re-inflate asset prices and restore some semblance of the wealth effect. However, we must understand that the Fed faces high hurdles, in the form of mountains of global debt and fragile asset prices. So far, the U. S. has been able to get away with massive debts and unsustainable deficits for one simple reason. The U. S. dollar is still the world’s reserve currency, as it has been effectively since World War II and literally since the early 1970? s. Because all governments and banks in the world accept and hold U. S. dollars as the majority of their reserves, the United States is able to simply print more money whenever it cannot afford to pay for things that it needs. Besides this, the country can borrow money in its own currency at incredibly low interest rates that we have seen approach almost zero. US citizens personally benefit in another critical way every time that they stop to get gas. With the U. S. dollar as the international reserve currency, oil and almost all  commodities  are all priced in dollars. As a result, you see an enormous amount of inexpensive goods available. Food items and other items that use oil/gas as inputs are extremely cheap. This makes restaurants and other attractions affordable in America. The level of wealth seen in the United States is simply unprecedented, and most of this results from the benefits of the dollar as universal reserve currency. There will be dramatic consequences difficult to imagine if the dollar finally ceases to be the reserve currency of the world. Should this happen, then the value of the dollar will plummet. The immediate painful effects will be that commodities prices skyrocket. These would no longer be priced in U. S. dollars, and you would see the falling value of the dollar buy fewer and fewer commodities. Gasoline at five to ten dollars a gallon is not only possible, but highly likely. Along with higher gas prices, we could see higher prices for anything that uses oil to ship goods around the world. This means practically everything that you buy would all cost dramatically more. As prices skyrocket, your lifestyle would sustain a punishing drop overnight. This is a very scary succession of possible events. Unfortunately, this is not the only consequence that you would see of a dollar that is no longer the reserve currency of the world. Interest rates would rise dramatically. They could easily reach ten to fifteen percent. This would wreck the housing market far worse than it is today. It would also cause the stock market to crash by almost half in a number of weeks. As the costs of supplies and materials go up with the falling currency value, businesses would be forced to cut back on  employees  because of their falling sales. Unemployment could reach twenty to thirty percent or more as a result of this. As if this is not bad enough,  inflation  would be sky high along with the rising prices and disappearing jobs. It is important to remember that the only thing that has to occur for all of these terrible things to happen is for other countries to prefer to be paid in anything besides U. S. Dollars. In the event that non-United States holders of dollar-denominated assets decided to shift holdings to assets denominated in other currencies, there could be serious consequences for the US economy. The possibility of QE3 has some serious implications, although Bernanke has denied that there will be another round easing. The dollar has plunged nearly 20% against the euro over the last year and a half, a period that includes the run-up to and aftermath of the last round of quantitative easing, the Fed's $600 billion bond-buying program known as QE2. But a QE3 may not pack the same dollar-slamming punch. If there is a QE3, the dollar's fall could easily approach 10% on a trade-weighted basis against rival currencies, said David Woo, head of G-10 global rates and currencies research at Bank of America Merrill Lynch in New York. But â€Å"the market is now more skeptical of the benefits of QE for the economy,† Mr. Woo said. â€Å"It is possible that by extension this means any short-term [dollar] decline on the back of QE3 will be also more limited. † Instead of QE3, Bernanke and the Fed decided to implement â€Å"Operation Twist,† a widely expected stimulus move reviving a policy from the 1960s. The policy involves selling $400 billion in short-term Treasuries in exchange for the same amount of longer-term bonds, starting in October and ending in June 2012. While the move does not mean the Fed will pump additional money into the economy, it is designed to lower yields on long-term bonds, while keeping short-term rates little changed. The intent is to thereby push down interest rates on everything from mortgages to business loans, giving consumers and companies an additional incentive to borrow and spend money. Some reputable names believe the dollar is going to depreciate in value over the next decade or two. Bestselling authors Robert Wiedemer of â€Å"Aftershock† and David Skarica of â€Å"The Great Super Cycle† both forecasted the housing collapse, financial crisis, and stock market collapse years ahead of them happening. They are calling for a collapse of the dollar. This could lead to many unsophisticated investors to â€Å"hop on the train†, causing a swing in technical expectations. QE attempts to lower long term interest rates, keep them low for a fairly well-understood period of time, while flooding the economy with cash in an effort to boost consumption and investment. In my opinion, quantitative easing in the US was a mild success. The markets were in a state of flux and we needed to do something. QE2 was necessary because we needed to increase the scale to which the LSAPs (large scale asset purchases) affected the economy. As for QE3, I don’t believe it is in our country’s best interest, because it would show even greater weakness, leading many foreign investors to flee from the dollar. Somewhere down the line, I predict that the IMF will attempt to overtake the dollar as the world reserve currency, but it certainly won’t happen overnight. If this happens, Americans will have to downgrade their wealthy standard of living due to increased commodity prices. However, I don’t believe the US Dollar will lose its currency reserve status anytime soon, nor do I believe that QE3 will happen. My recommendation is to continue QE in small amounts, unwinding it under Bernanke’s plan from his September speech in Minneapolis. Bernanke has stated that there will be no more easing, but you never know with the â€Å"Bernanke, Obama, Geithner brain trust. † Thus, our best option is to remain flexible in our policy schemes and monitor and react to relevant news as best as we can. Ben Bernanke concludes his Minneapolis speech in an attempt to reassure us that our country will be okay. â€Å"The Federal Reserve will certainly do all that it can to help restore high rates of growth and employment in a context of price stability. † Let us hope they act with rationality and in the best interest of the long term growth and stability of our economy. If America is ever going to dig itself out of the enormous debts it has taken, we must not devalue the dollar to the point that it is phased out as the world reserve currency. Perhaps a downgrade in American’s standard of living is necessary to reduce the deficit by a significant enough margin. There is some hope for a return to prosperity and consistent growth, but Americans need to be aware of the implications of QE on their portfolios and their long term purchasing power. Works Cited 1. United States. Richmond Federal Reserve. By Thomas M. Humphrey. The Theory of Multiple Expansion of Deposits: What It Is and Whence It Came. Mar. -Apr. 1987. Web. 14 Nov. 2011. . 2. A QE1 Timeline. † Calculated Risk, 03 Oct. 2010. Web. 13 Nov. 2011. . 3. Ciovacco, Chris. â€Å"Video Series: Quantitative Easing. † Ciovacco Capital Management. Web. 14 Nov. 2011. . 4. Sack, Brian P. â€Å"Managing the Federal Reserve's Balance Sheet – Federal Reserve Bank of New York. â€Å"Federal Reserve Bank of New York, 04 Oct. 2010. Web. 13 Nov. 2011. . 5. Bowman, David, Fang Cai, Sally Davies, and Steven Kamin. Quantitative Easing and Bank Lending: Evidenc e from Japan. †Ã‚  Www. federalreserve. gov. Board of Governors of the Federal Reserve, June 2011. Web. 13 Nov. 2011. ;http://www. federalreserve. gov/pubs/ifdp/2011/1018/ifdp1018. pdf;. 6. Eichengreen, Barry. â€Å"Dollar's Reign as World's Main Reserve Currency Is Near an End. â€Å"Foreign Exchange Report. The Wall Street Journal, 02 Mar. 2011. Web. 13 Nov. 2011. 7. Herold, Thomas. â€Å"What If The U. S. Dollar Loses Reserve Currency Status? † Wealth Building Course, 14 Jan. 2011. Web. 13 Nov. 2011. ;http://www. wealthbuildingcourse. om/dollar-loses-reserve-currency-status. html;. 8. Bullard, James. â€Å"QE2: An Assessment. † Federal Reserve Bank of St. Louis, 30 June 2011. Web. 13 Nov. 2011. ;http://research. stlouisfed. org/econ/bullard/pdf/Bullard_QE_Conference_June_30_2011_Final. pdf;. 9. Wieland, Volker. â€Å"Quantitative Easing: A Rationale and Some Evidence from Japan†, in  NBER International Seminar on Macroeconomics 2009  (2010), Univ ersity of Chicago Press   http://www. nber. org/papers/w15565 10. Cronin, Brenda. â€Å"Slow-Paced Recovery Feels Like a Recession. † The Wall Street Journal, 10 Oct. 2011. Web. 13 Nov. 011. ;http://online. wsj. com/article/SB10001424052970203499704576623053674426690. html;. 11. Fontevecchia, Agustino. â€Å"Central Banks Dump Treasuries As Dollar's Reserve Currency Status Fades. † Forbes, 03 Mar. 2011. Web. 13 Nov. 2011. ;http://www. forbes. com/sites/afontevecchia/2011/03/16/central-banks-dump-treasuries-as-dollars-reserve-currency-status-fades/;. 12. Case, Karl E. , John M. Quigley, and Robert J. Shiller. Wealth Effects Revisited. Yale University, Feb. 2011. Web. 14 Nov. 2011. ;http://cowles. econ. yale. edu/P/cd/d17b/d1784. pdf;. 13. Rooney, Ben. IMF Discusses Plan to Replace Dollar as Reserve Currency. † CNNMoney, 10 Feb. 2011. Web. 13 Nov. 2011. . 14. Weisenthal, Joe. â€Å"This Is How The Dollar Could Lose Its Reserve Currency Status. † Business Insider, 15 Nov. 2010. Web. 13 Nov. 2011. . 15. Bernanke, Ben. â€Å"The U. S. Economic Outlook–September 8, 2011. † Board of Governors of the Federal Reserve System, 08 Sept. 2011. Web. 13 Nov. 2011. . 16. Hamilton, James. â€Å"5 Key Arguments Against Quantitative Easing. † Business Insider, 20 Oct. 2010. Web. 14 Nov. 2011. . 17. Johnson, Andrew J. â€Å"Sizing Up Dollar's Pain From a QE3. † The Wall Street Journal, 05 Sept. 2011. Web. 14 Nov. 2011. . 18. Censky, Annalyn. â€Å"Federal Reserve Launches Operation Twist. † CNNMoney, 21 Sept. 2011. Web. 14 Nov. 011. . ——————————————– [ 1 ]. Richmond Federal Reserve. By Thomas M. Humphrey. The Theory of Multiple Expansion of Deposits: What It Is and Whence It Came. [ 2 ]. Wieland, Volker. â€Å"Quantitative Easing: A Rationale and Some Evidence from Japan† [ 3 ]. Calculated Risk. â€Å"A Q E1 Timeline. † [ 4 ]. Videos: Quantitative Easing, Chris Ciovacco [ 5 ]. Videos: Quantitative Easing. Chris Ciovacco [ 6 ]. Bowman, â€Å"Quantitative Easing and Bank Lending: Evidence from Japan. [ 7 ]. Bowman, â€Å"Quantitative Easing and Bank Lending: Evidence from Japan. †Ã‚   [ 8 ]. Hamilton, James. â€Å"5 Key Arguments Against Quantitative Easing. † [ 9 ]. Hamilton, James. â€Å"5 Key Arguments Against Quantitative Easing. † [ 10 ]. Sack, Brian P. â€Å"Managing the Federal Reserve's Balance Sheet [ 11 ]. Wieland, Volker. â€Å"Quantitative Easing: A Rationale and Some Evidence from Japan† [ 12 ]. Wieland, Volker. â€Å"Quantitative Easing: A Rationale and Some Evidence from Japan† [ 13 ]. Cronin, Brenda. â€Å"Slow-Paced Recovery Feels Like a Recession. † [ 14 ]. Case, Karl E. , John M. Quigley, and Robert J. Shiller. Wealth Effects Revisited. [ 15 ]. Bullard, James. â€Å"QE2: An Assessment. † [ 16 ]. Bullard, James. â€Å"QE2: An Assessment. † [ 17 ]. Videos: Quantitative Easing, Chris Ciovacco [ 18 ]. Eichengreen, Barry. â€Å"Dollar's Reign as World's Main Reserve Currency Is Near an End. † [ 19 ]. Fontevecchia, Agustino. â€Å"Central Banks Dump Treasuries As Dollar's Reserve Currency Status Fades. † [ 20 ]. Eichengreen, Barry. â€Å"Dollar's Reign as World's Main Reserve Currency Is Near an End. † [ 21 ]. Weisenthal, Joe. â€Å"This Is How The Dollar Could Lose Its Reserve Currency Status. † [ 22 ]. Rooney, Ben. â€Å"IMF

Example Of A Mission Statement - 1149 Words

Question 1:- Contrast the following terms: a. Mission; Objective statements; competitive strategy b. Corporate strategic planning ; ISP c. Top-down planning; bottom-up planning d. Low-cost producer; product differentiation; product focus or niche Answer 1:- a. Mission Statement – A Mission statement is in general an action statement which is usually short ,simple and direct, capturing the essence of what your business or organization wants to accomplish and how. It is a declaration of an organization’s core purpose answering the question, â€Å"why do we exist?† and specific enough that employees public will know, â€Å"this is what we do†, â€Å"what to expect from us† moreover â€Å"how we may differ from our competitors†. A mission is a very big, long-term end-result or achievement. There may be objectives, goals, strategies, executions and tactics all used to achieve the mission, but the mission is the biggest and most important thing to be accomplished. The mission statement serves as an update — to you, your representatives, and your clients — of the main purpose of your business. Objective Statement - Once an organization has developed its mission statement, its next step is to develop the specific objectives that are focused on achieving that mission. Each objective, or level, is separated by a series of stepping stones that the business must climb to reach each objective. The stepping stones are goals. The goals, unlike the mission statement, are actionable and measurable steps.Show MoreRelatedWhat A Mission Statement Is And What It Should Look Like Essay1713 Words   |  7 PagesExamples are a great way to understand what a mission statement is and what it should look like. One example of an effective mission statement is that of the Xerox company, which states, â€Å"We believe improving the flow of work is core to helping our clients be more successful and making the world a better place. By providing our customers with business process services, printing equipment, and software and solutions, we enable greater productivity, efficiency, work capacity a nd personalization† (XeroxRead MoreChapter 2: the Business Vision and Mission1258 Words   |  6 Pagesnature and role of vision and mission statements in strategic management †¢ Describe why mission statement is important †¢ Identify the components of mission statements †¢ Discuss how vision and mission statements can benefit strategic management activities †¢ Evaluate mission statements of different organizations †¢ Write good vision and mission statements Ch. 2-2  © 2001 Prentice Hall Comprehensive Strategic Management Model External Audit Vision Mission Statements Long-Term Objectives Read MoreA Mission And Vision Statement909 Words   |  4 Pages Introduction A mission and vision statement define a facility; it provides a statement of the companies goals, values and its purpose. All employees need to be aware of these values in-order to allow the company to succeed and to accomplish greater tasks. Baystate Noble is a small community hospital and its mission and vision statement define the hospital very well. Their statement states the following, â€Å"It is our mission to improve the health of our patients through innovative care in a personalizedRead MoreMission Statements : A Mission Statement Essay1137 Words   |  5 PagesEvaluating Mission Statements Most successful companies have a mission statement. But, why is it important for a company to develop a mission statement? The purpose of the mission statement is to describe what a business provides and to whom they are providing for. A company’s mission statement is usually developed by those in upper management positions, the top leaders of the company. The mission statement is concise and it is used to communicate to the company’s customers, employees, and toRead MoreDiscussion Board Thread : Mission Statement865 Words   |  4 PagesThread Re: Missions Statement Definition: Anita Satterlee defines a missions statement as follows: â€Å"A mission statement is like an introductory paragraph: it lets the reader know where the writer is going† (Satterlee, 2013). Summary: Mary Kneeling is a supervisor for library media services for Newport News, and she was a past president of the Virginia association of school librarians. Mary has done a large amount of research on the topic to compose a detailed article on mission statements. Mary KeelingRead MoreStrengths And Weaknesses Of Mission Statement1617 Words   |  7 PagesWeek 2: Mission, Vision Values Qs 27 27 unread replies. 27 27 replies. What are the strengths and weaknesses of EACH of the mission statement examples in this linked file? mission_statements.pdf follow the three criteria for effective missions in this discussion. Mission statement criteria Effective mission statements must meet three criteria: 1. They must express aspirations (goals/ideals). 2. They must provide practical guidance for strategic decisions and choices that face the organizationRead MoreVision Statement : Mission Statement877 Words   |  4 PagesVision and mission statements summarize strategy of a company in a form that can be communicate and understand easily by management and stockholders. A vision statement should not be confused with a mission statement as both statements take part in two distinctive aspects. A vision statement ought not to be mistaken for mission statement as both statements join in two particular angles. What is vision statement? Vision Statement is the establishment of the association. It is the target of the associationRead MoreMission Vision Statements1101 Words   |  5 PagesMISSION amp; VISION STATEMENTS FedEx amp; Google Mission amp; Vision Statement Analysis Prepared for Prepared by October, 2013 MISSION STATEMENT â€Å"Mission statement  is a description of what an organization actually does – what its business is – and why it does it.† Often called the â€Å"credo†, â€Å"philosophy†, â€Å"core values† or â€Å"our aspirations†, organization’s mission is the statement that defines its core purpose or reason for being. It tells who a company is and what it does. AccordingRead MoreVision, Mission and Value Statements Essay919 Words   |  4 PagesIntroduction I am going to discuss what the vision, mission and value statements are and how they are important to our business. Each statement has different qualities which I will discuss in my presentation. The future of our business and the Vision of who we are goes with our philosophy and ideals of who we want to be. The vision statement should inspire your employees and give them direction on how your organization intends them to act and give them purpose. It also, gives our members understandingRead MoreMission Statement Of Home Depot, Inc.1258 Words   |  6 Pagesmost important things an organization can and must do is have an effective mission statement. The purpose of this paper is to evaluate the mission statements of Home Depot, Inc. and Nike, Inc. The first step is to give a brief history of each company and the clients they serve. Next, review each company’s mission statement and evaluate them based on a few criterions. For example, the relevance of the mission statement to the organization’s customers, their needs, is it realistic, is it clear

An Interview With An Intern - 1429 Words

Judge Surrick provided me with an invaluable opportunity when he agreed to take on an undergraduate as an intern. Since this esteemed internship would ordinarily be reserved for a select few law students, it propelled my experience far beyond that of my competition, and it enabled far greater professional development than ordinarily possible at my level. Through working in his chambers, I learned how to employ vital resources within the legal services industry, manage a steep learning curve, and expand my career possibilities. Tthese regions of growth could never have profited to such an extent if not for my chance to learn from those who succeeded before me. Careful observation, reverence, and curiosity allowed me to reap the benefits of†¦show more content†¦When he asked for my opinion on the sentencing I witnessed, for instance, it demonstrated his concern for my contribution and education, and I met the request with a thoughtful analysis that corroborated with his decisi on. However, the formality of my relationship with Judge Surrick seems to have the negative side effect of limiting my exposure to him. Through the entire internship to date, I followed him into the courtroom three times and held only a handful of brief conversations with him. Although I can recognize why he would have other obligations, I wish, in hindsight, that I had been more active in forging a relationship with him. Due to our shared, strong connection to the clerks, I expect that he is familiar and pleased with the quality of my work, but it feels open- ended. How does he think I can improve? Will I have an exit interview, a final opportunity to speak to him? Would he be willing to write a letter of recommendation on my behalf? Although I have a great deal of respect for him and gratitude for the opportunity, there is a nagging uncertainty about my forthcoming departure. Perhaps by design, this relationship caused the clerks to become the focal point of my internship. They were my source of assignments and advice, but, more than that, they made it a community. Although each clerk in chambers has his own workload, they would not hesitate to help each other whenever necessary. They would trade opinions for revisions, advise on aspectsShow MoreRelatedAn Interview With A Student Intern1451 Words   |  6 Pagesmarried and does not have any children. She is currently living with her boyfriend of about one year. Client works two jobs and has aspirations to go back to school one day. Client signed the Informed Consent and was notified of my status as a student intern. Client does not know her biological father and was raised by her mom and stepfather. She describes having a happy childhood as well as feeling supported by her mom. Client did well in school, and after graduating high school begun taking classesRead MoreClient System : Sue J., African American Female 17 Years Of Age Essay914 Words   |  4 PagesCONTACT: Follow-up interview with Intern Roberts, concerning family dispute with mother and daughter. Also, Case Manager concern about Sue thoughts of taking pills. PREPARATION FOR CONTACT: Field Supervisor discuss case brief before the interview at Lee County High School with Intern. VERBATIM RECORD OF INTERVIEW Social Work Skills Used Self-Reflection Analysis Social Work Values Social Work Knowledge Plan Field Instructor’s Comments Field Supervisor, Mrs. Jackson and Intern are seated in a privateRead MoreTime Frame1002 Words   |  5 PagesAgency staff Interns. | To know the history of agency.To Familiarized the client staff. | Achieved | * Conduct intake interview with the clients. * Prepare an intake record. * Collateral Interview with other units of attention. | 2 weeks | Intake form and case record | Client, Family and Intern. | To have initial assessment | Achieved | * Prepare the initial impression of the clients. * Finalized and refine writing of assessment for the case | 3 weeks | Place for interview | AFI, InternRead MoreBenefits Of A New Internship Program Essay1171 Words   |  5 Pagesrotational internship program properly, we will need a variety of resources. First, we will need resources to acquire prospective interns and second we will need resources to accommodate interns once they are hired. Both types of resources are essential in order for our new internship program to function flawlessly. We will need three resources to acquire prospective interns. First, we need a group of recruiters that have significant recruiting experience, and are young enough to relate to our prospectsRead MoreHow Interns Are Influenced By The Internship1344 Words   |  6 Pagesexplore how interns are influenced by the internship in regards to their career choice. The data will be collected from the three different field sites; Higbee and Associates, Legal Aid Society of Orange County and Public Defenders Office of Santa Ana with assessing total of 50-60 interns who will be participating in these three different field sites. Using the previous studies as a guideline I will use the combination of interviews and questionnaires to assess the attitudes of the interns regardingRead MoreDsm Diagnosis : Include Behaviors And Symptoms Consistent With Diagnosis Essay812 Words   |  4 PagesSmith presented in the interview having a labile and dysphoric mood while talking and engaging with the intern student. I explained that I am the intern. Student started with small talk and asked him about his thoughts and feelings. Student precedes by asking him questions that pertain to the assessment; however, the patient maintained eye contact throughout the interview. The patient informed me that he was having a hard time hearing me. At the beginning of the interview, the patient appearedRead MoreAn Analysis Of Assess And Balance Financials1441 Words   |  6 Pagescreates, and finalizes budgets for these departments and ensures that each is equipped with the necessaries for their role in the county. Assess and Balance Financials is in search of filling a position for a budget analyst. Currently, there are two interns in the firm, a staff accountant, a purchasing coordinator, and the finance director. This firm works closely with the county manager as well. The firm is struggling to function with the employees that are currently working, but they can provide theRead MoreThe New Intern Leadership Development Program1398 Words   |  6 Pagesthrough exit interviews have revealed that employees in general feel the need for development. A development program was developed for employees and has proven to be effective; however, the Chief human Resourc es Officer has expressed the need for the program to be continually be improved. In addition, in the past, there was not a previous leadership development program for interns. Therefore, for the current semester, a pilot training module is being tested. Opportunities: The new intern leadershipRead MoreFice Of Child Protective Services1519 Words   |  7 PagesDepartment of Human Resources. The child protective services includes maintaining the Central Registry on Child Abuse and Neglect, applying for and monitoring grants for protective services projects and providing case consultation services. The social work intern provided assistance to a case worker that received a case that was reported by The University of South Alabama’s Children’s and Women’s Hospital. The report stated that an African American 16 year old male was admitted for diabetic ketoacidosis withRead MoreProblems With Attention Deficit Hyperactivity Disorder751 Words   |  4 Pagesherself on the desk/table) to obtain attention from adults and peers. Problem Identification A variety of assessment methods were used in order to obtain important information regarding V.B. These assessment methods included a review of records, interviews with teachers, and observations. Per teacher report, V.B. lacks appropriate social skills to interact with her peers at recess. V.B. has been observed tattling and inappropriately touching other kids (i.e., hitting). It is believed that V.B. engages

Representations Of Women And Women - 1539 Words

Representations of what is believed to be female characters holding weapons have been previously observed on the fragments of the Oseberg tapestry. The textile fragments show human-esque figures that appear to be either standing in front of spears or holding them and who wear clothing that is closely representative of long dresses which were worn by Viking Age women. Some apparently female figures are also holding swords. The Oseberg tapestry is difficult to interpret, but it has been suggested that its imagery may represent a procession of some sort, perhaps one that occurred as part of a funeral. Jesch has also speculated whether the female figures on the tapestry might be valkyrjur â€Å"choosing the slain for the honour of Valhall† . Jesch notes the variety of places that female Scandinavian graves can be found, from Iceland to Russia, yet she is hesitant about presenting this as evidence of female participation in Viking raids. She says, â€Å"In spite of the archaeol ogical evidence that women from Scandinavia accompanied the men who went trading and adventuring in the east, we are never told this in the written sources.† However, what written sources do contain is a picture of how medieval writers viewed the Viking Age through a gendered bias. Jesch analyzes the History of the Danes, written by Saxo Grammaticus in the 12th century, and how he treats â€Å"warrior women† in the stories such as Lathgertha and Alvid. There is little doubt that Saxo uses the idea of women asShow MoreRelatedWomen And Representations Of Women1606 Words   |  7 PagesThe lives and representations of women in the Florentine Renaissance In Biblical imaginary, the image of woman often originated from the image of Eve. Eve was allured by the devil and impelled Adam to disobey God and eat the forbidden fruit, resulting in their exclusion from the paradise, mortality and hardship in their lives living on Earth. Since then, the female descendants of Eve were held responsible for this loss of paradise. During the Renaissance era, women were oppressed by men becauseRead MoreWomen s Representation Of Women994 Words   |  4 PagesWomen’s representation remains an ongoing issue that not only affects the lives of women, but the entire society. Females have been raised to believe that appearances will get them far in life instead of other factors such as intelligence and the ability to succeed without depending on their looks. Along with the hindering misconception of females’ level of intelligence, the media continues to support the minoritization of females. Students must realize that to change how society perceives women, studentsRead MoreWomen s Representation Of Women1676 Words   |  7 Pages and 64% of women in there sixties said they were not happy with their appearance either. The difference between the two, however, is that the majority of the older women were ‘grateful’ about the way they look, while most teenagers described themselves as ‘ self-conscious’ when it comes to their physical appearance (â€Å"How Women Feel About Their Looks†). These statistics prove that women of all ages are affected by women’s representation in the media, as more often than not, the women presented haveRead MoreWomen s Representation Of Women Essay1830 Words   |  8 PagesThe sexualisation of women in advertising has become a very prominent and controversial issue in today’s society. Many brands, products and campaigns we are presented with portray women as being available and willing sexual objects, who exist to cater to the male gender. Gucci is one such brand that does this, focusing on emphasizing the sexual appeal of the female gender in order to sell their products, because as advertisers know: ‘sex sells.’ This new cultural shift can however, be seen as politicallyRead MoreWomen s Representation Of Women836 Words   |  4 PagesThe representation of gender in the media today is construc ted and selected this is known as mediation. Moreover, the representation of women has changed due to the sociological changes. However, there are still sterotypical representation of women in this society. This is the way the women should look and behave. As, well, as, due to the changing representation of women the representation of men has changed and their has been many cries that masculinity is in crisis. This means the definition ofRead MoreWomen s Representation Of Women Essay1348 Words   |  6 Pageshe documentary Miss Representation addressed and discussed many prevalent matters with regard to women’s representation in the media. The document argues that the media portrays women as either hyper sexualized, too conservative, too submissive, or too dominant and so on. The main idea is that TV, advertisements, magazines, and music too often portray women in a negative, male biased light. This documentary detailed many examples of these phenomena occurring in our society. A great example of theRead MoreWomen s Representation Of Women1564 Words   |  7 PagesSince the beginning of cinema, there has been an ongoing issue in regards to the representation of women, or in fact, the lack of representation that is authentic to real women. Women have often been reduced to token roles and sexualised for the benefit of the male gaze, thus this turbulent relationship between women and cinema was born. To this day we still have a long way to go, however, the representation of women has evolved significantly due to factors such as; the wave of feminism, changingRead MoreWomen s Representation Of Women897 Words   |  4 Pagesresearching different points about women in leadership it has opened my eyes to multiple subjects in the today world. It shows many ways of how people in the society see women. Enormous amount of women have more than one thing on their plate. But still are complete everything let alone being a mothe r, great wife to her husband, and be a successful lady. Women can be the most powerful people if they were not judge or not looked at as equal due to their gender. Although women hold almost 52 percent of allRead MoreWomen s Representation Of Women1438 Words   |  6 Pagesâ€Å"Feminism† is the belief that women should be allowed the same rights, power, and opportunities as men; it demands them to be treated, in the same way. This ideology means attaining social, political and economic equality for both women and men. During the period between 19th and the early 20th century, several noted feminist writers examined women’s role in the patriarchal society then further reflected their philosophy of life and aided in an identification of women. The era coincides with the modernistRead MoreWomen s Representation Of Women2993 Words   |  12 PagesFrom 2002 to 2012, women wrote and directed 12 per cent of feature films made in New Zealand by New Zealanders. When you con sider that film is a medium through which to tell the stories of a nation, it would seem that the views of women are seriously underrepresented. Would having more female directors mean that stories in which women play a central role other than that of sexual object would become more prevalent? I think the answer is yes. For although it is possible for male directors to direct

Effective Financial Policy and Procedures free essay sample

Effective Financial Policies And Procedures Effective Financial Policies and Procedures Medical practices establish financial policies and procedures to control patient billing and the ability to collect money for services they provide. Successful billing practices start with thorough financial policies and procedures which explain patients’ payment responsibilities in terms that are easily understood. An effective medical office financial policy is one that both staff members and practice patients can easily follow and understand. Patients need to understand their obligations and staff members need to know what is expected of the patients. All possible situations should be addressed by a good financial policy. This includes financial arrangements and payment plans, payments for services not covered by the insurance company, and a variety of other circumstances. The basic elements of an effective policy should inform patients how particular situations will be handled. Collection of a patient’s copayment, deductibles and any past-due balances should be addressed; as should payment for services that are not covered by a patient’s insurance company. We will write a custom essay sample on Effective Financial Policy and Procedures or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page An effective policy should address how a practice handles prepayment for services they will provide and also any possibility for payment arrangements of unpaid balances on a patient’s account. If a practice offers charity care or discounts to patients with low incomes/financial need it should be stated in the financial policy. Finally, a practice’s financial policy should state their accepted forms of payment such as cash, checks, money orders, and credit or debit cards. Clear medical office procedures that are consistently followed by staff members help support the office’s financial policy. When administrative staff members collect appropriate copayments and other fees as stated in the financial policy, they are helping to support the policy. When staff members become lax in their collection duties and neglect to follow established office

CR free essay sample

It seems that in this day and age, many bands make music for the sole purpose of making money. They make records to sell records. Bands such as Prodigy come to mind. I think their music is nothing more than mind-numbing noise with pointless lyrics. This applies to most popular bands. However, some bands manage to get beyond this and actually make music for the sheer love of it bands such as CR. CR stands for the Compassionate Revolution, but CR is not just a band, it is a way of life. CRs music is typically very fast, and their songs are very short (most are under a minute), but their message is crystal clear. There is a song about buckling your seat belt, in which one of the lines is, You dont unbuckle too many dead people. The moral of the song is why risk your life by failing to do such a simple thing as putting on a seat belt. We will write a custom essay sample on CR or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Another CR song, Monster, is about child molesters. It preaches against the sins of child molesters, how they take away the innocence of a child and leave them scarred for life. Another CR song, Suicide deals with this topic. It brings up the point of the selfishness of those who commit suicide, suggesting that they think only of themselves and not those who love them. There are too many great CR songs to write about all of them. (Their last album alone had 25 songs.) CR is not only has great music, but also stands for something and they give some kind of meaning to those who listen to their music. They have greatly influenced my life and opinions. I didnt write this with the intention of turning everyone on to CR. (Most people wouldnt like their music or be able to find any of their records.) But rather I wanted to make more people aware of what they listen to. I hope after reading about CR, people will think about what they are buying the next time they buy a record music that was made for them to buy it, or music that was made with a real purpose to be listened to and be explored