Abortion thesis statement
Thursday, August 27, 2020
8th of march Essay
Upbeat womenââ¬â¢s day! Worldwide Womenââ¬â¢s Day (8 March) is an event set apart by womenââ¬â¢s bunches far and wide. This date is likewise celebrated at the United Nations and is assigned in numerous nations as a national occasion. This day ladies on all mainlands, frequently partitioned by national limits and by ethnic, etymological, social, monetary and political contrasts, meet up to praise their Day. eighth March is commended as International Womenââ¬â¢s Day, around the world. The day is seen to bring an ocial transformation focusing on sexual orientation uniformity. Truth be told, in certain nations like China, Nepal, Vietnam, Russia, itââ¬â¢s an official occasion! Here are some fun-realities about Womenââ¬â¢s Day and zones where ladies exceed expectations, which makes certain to make each lady glad for herself! 1. The first Womenââ¬â¢s Day was seen on nineteenth March 1911. More than 1 million ladies and men went to revitalizes to help womenââ¬â¢s option to work, vote, hold open office and to end sexual orientation segregation. Throughout the years, eighth March as fixed as International Womenââ¬â¢s Day. 2. Examination proposes that ladies have a lot more grounded verbal aptitudes, contrasted with men. Ladies are normally progressively expressive. 3. Yellow mimosa is the image of Womenââ¬â¢s Day in Italy, Russia and Albania. In Italy, men offer blossoms to ladies. Chocolates and yellow mimosa best as endowments in Russia and Alba 4. Ladies have better sympathy and can decipher feelings better. Ladies are likewise quicker to distinguish something outwardly not the same of course. As indicated by researchers, ladies have a more grounded safe framework and female hormone estrogen gives ladies this edge! 6. Ladies, on the off chance that they get appropriate clinical consideration during her introduction to the world and pregnancy, have a more extended future than men. 7. Ladies and caring go connected at the hip. This might be the motivation behind why numerous patients incline toward female specialists. A few examinations show that female specialists are all the more promising, consoling and invest up to 10% more energy with patients.
Saturday, August 22, 2020
Descartes Essay Example | Topics and Well Written Essays - 750 words
Descartes - Essay Example nd republished in 1642, ââ¬Å"Meditations of First Philosophy,â⬠which covers various philosophical subjects that he was intensely put resources into talked about a portion of these points. One of these subjects incorporates the presence of God and whether something like this might exist. Anyway Descartes lived in a period where the Catholic Church held a lot of intensity. Had Descartes reached some other resolution than a positive affirmation of God he may have been banned from the Church or, more terrible, marked a blasphemer. So this makes one wonder did Descartes have faith in God or would he say he was cushioning his decisions to stay away from Church oppression? Descartes stated, ââ¬Å"â⬠¦were it not the case that God truly existed. By ââ¬ËGodââ¬â¢ I mean the very being whom is inside me, that is, the holder of the considerable number of splendors which I can't graspâ⬠¦Ã¢â¬ (Descartes 1-132). Descartes puts forth his defense in the ââ¬Å"Meditationsâ⬠that there must be a God. It resembles a geometric shape, consistent, ever present, and faithful. He bolstered his decisions, basically, in view of the accompanying reasons (Kurtin). Basically this turns out to be as God is great however man isn't, which implies that God must exist on the grounds that a flawed being would not be fit for imagining an ideal one. In decency, there are various defects in Descartes thinking on this point. He makes a supposition that since humankind is defective then God must be great. Since God is flawless at that point man would never have designed an ideal being. Be that as it may, none of these lines of reasoning ever offer substantial evidence of the presence of God. On the off chance that works from the point of view, a one-sided one, since individuals needed to trust in God. It appears to be likely that that Descartes was the same. Be that as it may, as a rationalist he was unable to think about the truth without reflection and thought. He needed God to be genuine so he made a rationale that permits God to be genuine. This kind of reasoning serves the mastermind quite well, yet may not be gotten also by
Friday, August 21, 2020
5 Best Shopify Alternatives 2020 (Free and Paid Options)
5 Best Shopify Alternatives 2020 (Free and Paid Options) .elementor-19761 .elementor-element.elementor-element-19761{text-align:center}.elementor-19769 .elementor-element.elementor-element-19769{text-align:center}.elementor-19767 .elementor-element.elementor-element-19767{text-align:center}.elementor-19763 .elementor-element.elementor-element-19763{text-align:center}.elementor-19765 .elementor-element.elementor-element-19765{text-align:center}.elementor-19771 .elementor-element.elementor-element-19771{text-align:center}.elementor-19773 .elementor-element.elementor-element-19773{text-align:center}.elementor-19992 .elementor-element.elementor-element-19992{text-align:center}Last Updated on March 1, 2020Your website is doing astoundingly well! Youâve launched a blog and built and designed a great site, promoted it well, and traffic has been booming! Youâre climbing in page rankings, your domain is gaining some authority, and youâre making great use of long-tail keywords.Your visitors have been asking whether they can buy your products o nline. They want to represent you and easily grab your merchandise even though they arenât close to you geographically. Itâs time to look into an e-commerce option for your site. Disclosure As an independent review site, we get compensated if you purchase through the referral links or coupon codes on this page â" at no additional cost to you. Dismiss alert Are there any free Shopify alternatives? Your site may be growing, but your budget isnât yet. I have looked into several websites to find you the very best free Shopify alternatives for your current needs.From all the available options, Iâve singled out five of the best Shopify alternatives to make your decision much easier. Iâve ranked the top features, broken down some pros and cons of each, and talked about the key differences in each.Our #1 web hosting pick:Get top rated hosting for as little as$2.64 per Month Claim your discount now! You might also like: Shopify review Table of Contents Top Shopify competi tors comparison chartHere are the best Shopify alternatives1. WooCommerce (best free Shopify alternative)2. BigCommerce3. volusion4. 3DCart5. Big CartelAlternatives to Shopify: our conclusionTop Shopify competitors comparison chartLetâs look into some of the key features of each site and see how they rank against each other. Shopify alternatives Customization Ease of use Customer service and support Pricing WooCommerce 5/5 3/5 3/5 Check prices Big Commerce 3/5 3.5/5 4.5/5 Check Prices Volusion 4/5 3.5/5 2.5/5 Check Prices 3D Cart 4.5/5 4/5 3/5 Check Prices Big Cartel 2.5/5 2.5/5 2/5 Check PricesHere are the best Shopify alternatives Join the FREE TrainingDo You Want To Learn How To Build 6 Figures Authority Sites?Join This Free Training To...Finally have a proven method to finding profitable nichesGet access to a foolproof keyword research methodLearn how to outsource quality contentLearn how to build white hat links to your site without headaches WooCommerce requires some tech nical skill to use fully, but if you have it then this is a great alternative. Itâs much more customizable than Shopify if you know what youâre doing. The downside is that this is not a great platform for beginners.One of the nice things about WooCommerce is that it has built-in blogging, so you can easily write some product reviews and use the blog to drive the sale without ever needing to have people navigate into the store first. Just embed the products in the blog entry.ProsWooCommerce is open sourced, so you can customize the store however you want to. Anything is possible as long as you know a little bit about coding or have the time to find the plugins and themes that you love.You can make your store match your site. They have tons and tons of themes, most of which are mobile compatible, so finding a design to match your website will be easy.Their search engine optimization (SEO) tools are extremely powerful. WooCommerce operates through WordPress, so you can edit the met adata of your store to target very specific, small niche markets and get your products seen by the people who will buy them.Their open-sourced, international basis means that you have access to even more payment gateways, including several smaller, niche gateways and a ton of region-specific ones. Unlike Shopify, WooCommerce wonât charge you tons of fees for using them, either!ConsThe downside of open-sourced software is that there isnât very much customer support to speak of. You can submit a ticket and wait for an answer or dig through the forum to see if someone else has already asked the same question and gotten a response.This is not as beginner-friendly as other platforms. The open-sourced coding requires some technical skill to really finesse and fully customize.This platform doesnât include an abandoned cart recovery feature. They will have to reload the item and fill in all their details again, and you have no way to prompt their return with an email reminder. Check pricing now 2. BigCommerce This has included developing a visual tool called Site Design that lets you edit your storefront on screen. It makes it much easier to customize your site without having to swap between multiple editing areas.BigCommerce includes SSL certificates to reassure your guests that your store is protected and that shopping with you will keep their data safe when they make online payments. They also let you take advantage of abandoned cart recovery, so you can send gentle reminders to your users that they havenât completed their checkout process and recover some lost sales.Unlike Shopify, BigCommerce has physical, digital, and service sales built in to your store, so you wonât need extensive apps to fill in the missing pieces of your shop. The widespread availability of these features saves you money on third-party purchases but costs you time to learn the technical side of the store.BigCommerce has seven free templates and a larger range of paid ones. A l ot of people will shop outside of their industry for a more appealing theme and customize the store to match. Be careful when doing this with BigCommerce, because there are some features that will only be available within a certain industry.For example, Zoom features on your products will require Clothing as a category. The upside is that you can always switch your theme, and they will automatically reformat all your content for the new theme.When it comes to support, BigCommerce is as great as Shopify. They have live phone and chat features any time of the day or night. They also feature a help center and active support forum, video tutorials for their features, and advanced specialist support with email.However, the support has some limitations. They are available by email only Monday through Friday from 9 am to 6 pm EST. And the live chat feature on their site is misleading; it simply redirects you to email support.ProsThey have more built-in features than any other e-commerce pl atform so you donât have to rely on third-party plugins for your needs. This keeps a single point of contact for when anything goes wrong and reduces security risk.They have some really great SEO tools, so your site wonât get lost in the crowd. You can market to different niches and bring people to you.Their abandoned cart feature allows for recovery of dropped sales through gentle email reminders to customers to complete their checkout process.They allow for selling across multiple channels, so you can set up stores on Facebook, Instagram, and Twitter, among other popular social media platforms.ConsThis is not a beginner-friendly site, because they use a lot of technical terms that are not likely to be familiar to end users who donât also dabble in web development.This store site doesnât come with a mobile app, so users canât buy from their phones on the go. This could negatively impact sales, as most people browse from mobile devices now.Their interface is not very user friendly. If you want to edit your site, it will take some time to learn your way around their system. Check pricing now 3. volusionTheir designs also lack features like product zooms for images, videos, or customer reviews attached to logins. This makes it more difficult to retain repeat customers.And to personalize and customize your theme, you will have to credit the code yourself. This limits customization.ProsThis is the only platform for e-commerce that genuinely allows you to sell online for free.This is the best site for artists and other people who sell individual products and commissions rather than mass marketing.ConsThey are the hardest platform to use for end users who arenât proficient with coding. This is not good because their system is targeted towards one-time sales, and most artists donât have coding skill, so thereâs a mismatch. They know their weakness and attempted a remedy, because they also have a comprehensive onboarding system so new users can easi ly figure out how their system works and get up to speed, even when they lack technical skill.They donât offer very many sales features, because they expect inventories to be mostly small, one-off sales. Check pricing now Alternatives to Shopify: our conclusionThere are some great options out there for users who want something different than Shopify for their e-commerce needs. These are the five commonly considered alternatives, and each has its own set of advantages and drawbacks.Knowing what you need will help determine what you choose, but I really think WooCommerce is the best alternative to Shopify.This works flawlessly with a WordPress setup, and you can get that for only $2.64/month with HostGator (only with this link) along with a free domain name if you think is right for you.That said, if none of the alternatives to Shopify jump out at you, Shopify is still a really great choice. See Shopify special deals now Our #1 web hosting pick:Get top rated hosting for as lit tle as$2.64 per Month Claim your discount now! Shopify vs GoDaddy
Monday, May 25, 2020
Causes of the American Revolution - Free Essay Example
Sample details Pages: 4 Words: 1071 Downloads: 5 Date added: 2019/04/26 Category History Essay Level High school Tags: American Revolution Essay Did you like this example? The American Revolution was caused by the French and Indian War, the Proclamation Line of 1763, Navigation acts, lack of colonial representation, and violent colonial resistance. Even though the French and Indian War succeeded in giving Great Britain an enormous amount of territory in North America, it was also immensely expensive. In an attempt to cover these expenses, Britains parliament decided to impose taxes on the colonists, also known as the Navigation Acts. These acts led to colonial resentment over the growing imperial rule in the colonies. Having no control over these taxes, colonists realized their lack of representation in the English Parliament and wrote to King George III, hoping to gain some say in what was imposed upon them. In response, the colonists gained more taxes and their irritation with the parliament grew. Great Britain, not wanting to provocate another war with the Indians, attempted to limit Westward expansion for colonists by passing the Proclamation Line of 1763, which stated that colonists could not settle West of the Appalachian Mountains. Tired of the repressive laws and taxes bestowed upon them, colonists began to revolt and use violence as their way of rejecting British rule. These clashes over colonial freedom led to an extensive war for independence. Donââ¬â¢t waste time! Our writers will create an original "Causes of the American Revolution" essay for you Create order When the war ended in 1763, Britain gained a vast amount of land for its empire after signing the Treaty of Paris. Although the war had ended, fighting with indians continued. After signing the treaty, ten thousand British troops arrived on the new frontier to defend and assuage it. The soldiers lodged themselves in the homes of many settlers, causing colonial discontent with the disruption of their homes. Along with building a vast empire and strong Navy, Britain was so high in expenses that Englands national debt doubled in amount. England decided to push the debt on the colonies in the form of many taxes and laws. Resentment among colonists grew as their expansion was limited and they were heavily taxed. After an expensive war, King George III passed the Proclamation Line of 1763 to prevent further fighting with the indians. This frontier policy forbade colonial settlement West of the Appalachian Mountains, mainly in the Ohio Valley. Many colonists disliked this policy and resented the British monarchy for it. The colonists were celebrating the opening of the frontier won after the war, and grew upset that their expansion became limited. Many colonists believed that Britain was trying to keep a tight control over the colonies by enacting this policy. Since Britain was in a massive debt and in need of cash, the expenses were pushed onto America. This led to a series of taxes imposed upon the colonists, some of which were meant to prevent smuggling. The Sugar Act of 1764 taxed many commonly used imports such as sugar, coffee, and wine. Tax collection was stringently enforced and led colonists to protest and cry no taxation without representation, because they had no say in the British policy. For the colonists, property was seen as a freedom instead of just a possession. If one had property, they could provide for themselves without relying on the government. When the security of that property was threatened due to taxes, so was the liberty that came with it. Many colonists believed that their freedom was being dealt with in this way, and protested. For example, in Massachusetts, a protest was drawn up that stated that taxes ought not to be laid without representatives of the colonists affected by them. In March, 1765, the Stamp tax became a law, forcing any formally written or printed documents to be put on singular stamped paper and distributed in America by resident agents who were on payment of the taxes. The colonists would have to pay stamp tariffs on the stages of lawsuits, almanacs, newspapers, bills and bonds, diplomas, deeds, advertisements, and even dice and cards. Regardless of size, each fee seemed to be a strike on the security of property to the colonists because they were levied without assent. With the passage of the Stamp Act, merchants of the colonies rebelled by agreeing to cease imports on all British goods unless Parliament were to repeal it. Most colonies also witnessed a pause in business due to the desire to nulli fy the act, and used nothing that required the use of stamps. TAXATION WITHOUT REPRESENTATION Most Englishmen were ineligible to vote on the acts of Parliament, either because they did not own enough property, or they lived in towns that were not allowed to send members. The Sugar Act and a newly proposed stamp tax brought forth colonial protests and objections. In an attempt to justify these new acts, Thomas Whatley, a member of the Parliament, assured the colonists that they werent unrepresented, but they instead enjoyed a virtual representation, without voting for anyone. According to Whatley, each member of Parliament represented the entire empire and not just the few electors who chose them. The colonists roundly rejected this idea of virtual representation and wanted an actual representation in Parliament. In October, 1765, nine colonies sent representatives to New York to attend the Stamp Act Congress, where they drew up a set of regulations denying the authority of taxation by Parliament. This declaration of rights and grievances was framed and then sent to King Georg e III, but despite the opposition, the Stamp Act was still enacted. The colonists were angered by the lack of representation that they had in the British government, and thus their desire for freedom was fueled. COLONIAL RESISTANCE As the colonists tried to flout the British government, they formed rebellious associations, a popular one called the Sons of Liberty in Boston, led by politician Samuel Adams. The purpose of these groups was to declare the colonial intention to resist the Stamp act to the last extremity. The colonists in these associations found themselves willing to risk their lives in rebellion to prevent the security of their property from being taken by the Parliament, in which they had no representation. In response to the Stamp Act, the Sons of Liberty hung an effigy of Andrew Oliver, who was paid to distribute stamps in Massachusetts, along with a large boot with a devil climbing out of it, to symbolize Olivers evil connection to the Stamp Act. After dusk, many furious colonists of Boston burned Olivers property, stoned his house, and beheaded the effigy. Similar riots began to break out and forced the resignations of various crown-appointed officials.
Thursday, May 14, 2020
Italian Abbreviations, Acronyms, and Initials
AQ, BOT, ISTAT, and SNAproFIN. VF, CWIB, FALCRI, and RRSSAA. Italian abbreviations and acronyms might make your head spin, but consider the alternative: While on vacation in Italy Antonio rented a car manufactured by the Fabbrica Italiana Automobili Torino. In his hotel room the channel choices included Radio Audizioni Italiane Uno and Telegiornale 4. Antonio consulted the Italian financial paper Il Sole 24 Ore for the daily Indice azionario della Borsa valori di Milano. While looking out the window, he saw a street rally for the Partito Democratico della Sinistra.Since the airlines lost one of her suitcases, Antonios wife went to Unico Prezzo Italiano di Milano to replace her toothbrush. She also wrote a postcard to her friend Regina in Sicily that required a Codice di Avviamento Postale in the address. Later on that day Sabrina went to the local Azienda di Promozione Turistica office for information on museums. At the end of their trip Antonio and Sabrina filled out an Imposta sul Valore Aggiunto refund claim form in order to receive a refund of taxes spent on certain goods. Now consider the same passage using Italian abbreviations and acronyms: While on vacation in Italy Antonio rented a FIAT. In his hotel room the channel choices included RAI Uno and Tg4. Antonio consulted the Italian financial paper Il Sole 24 Ore for the daily MIB. While looking out the window, he saw a street rally for the PDS.Since the airlines lost one of her suitcases, Antonios wife went to UPIM to replace her toothbrush. She also wrote a postcard to her friend Regina in Sicily that required a C.A.P. in the address. Later on that day Sabrina went to the local APT office for information on museums. At the end of their trip Antonio and Sabrina filled out an IVA refund claim form in order to receive a refund of taxes spent on certain goods. Stirring the Soup It might seem like a zuppa di alfabeto, but as the examples show, youd have to be pazzo to write or speak the complete phrase or term instead of substituting the appropriate Italian abbreviation or acronym. Known as acronimi (acronyms), abbreviazioni (abbreviations) or sigle (initials), Italian abbreviations and acronyms are formed by joining the initial letters or syllables of companies, organizations, and societies, as well as other terms, to form a new word. Some of them even evoke the topic they stand for. For example, in Italian, the word luce can mean light, brightness, sunlight, all possible references to the movies. LUCE is also the Italian acronym for LUnione Cinematografico Educativa, the national cinema educational organization. Tasting the Minestra Wondering what spices to add to the zuppa di alfabeto? In general, Italian abbreviations and acronyms are usually pronounced or read as if they were words rather than spelled out, with the exception of two-letter combinations, which are regularly spelled out. Acronyms such as PIL (Prodotto Interno Lordo), D.O.C. (Denominzaione dOrigine Controllata) and STANDA (Società Tutti Articoli Nazionale DellArredamento [Abbigliamento]), are pronounced as if they were Italian words. Other abbreviated forms, such as PSDI (Partito Socialista Democratico Italiano) and PP.TT. (Poste e Telegrafi) are pronounced letter for letter. Listen to native Italian speakers, especially public speakers, to determine the correct form. In any event, dont forget how to pronounce Italian vowels or how to pronounce Italian consonants, since the letters and syllables are still pronounced using the Italian alphabet.
Wednesday, May 6, 2020
School of Thoughts in Psychology - 1604 Words
Major Schools of Thought in Psychology When psychology was first established as a science separate from biology and philosophy, the debate over how to describe and explain the human mind and behavior began. The first school of thought, structuralism, was advocated by the founder of the first psychology lab, Wilhelm Wundt. Almost immediately, other theories began to emerge and vie for dominance in psychology. The following are some of the major schools of thought that have influenced our knowledge and understanding of psychology: Structuralism was the first school of psychology, and focused on breaking down mental processes into the most basic components. Major structuralist thinkers include Wilhelm Wundt and Edward Titchener. Functionalismâ⬠¦show more contentâ⬠¦Researchers tried to understand the basic elements of consciousness using a method known as introspection. Wilhelm Wundt, founder of the first psychology lab, was an advocate of this position and is often considered the founder of structuralism, despite the fact that it was his student, Edward Titchener who first coined the term to describe this school of thought. While Wundts work helped to establish psychology as a separate science and contributed methods to experimental psychology, the structuralist school of thought did not last long beyond Titcheners death. Major Structuralist Thinkers â⬠¢ Wilhelm Wundt â⬠¢ Edward Titchner Criticisms of Structuralism â⬠¢ By todayââ¬â¢s scientific standards, the experimental methods used to study the structures of the mind were too subjectiveââ¬âthe use of introspection led to a lack of reliability in results. â⬠¢ Other critics argue that structuralism was too concerned with internal behavior, which is not directly observable and cannot be accurately measured. Strengths of Structuralism â⬠¢ Structuralism is important because it is the first major school of thought in psychology. â⬠¢ Structuralism also influenced experimental psychology. Functionalism Functionalism formed as a reaction to the structuralism and was heavily influenced by the work of William James and the evolutionary theory of Charles Darwin. Functionalists sought to explain the mentalShow MoreRelatedThe School Of Thought And The Field Of Psychology1555 Words à |à 7 PagesThe school of thought and its central contribution to the field of psychology Carl Rogerââ¬â¢s central contribution to the field of psychology involved his theory of personality. This theory was unique with the capability to be applied in various domains of helping professions including psychotherapy and counseling, education, organizations, cross-cultural relations, and other group settings (n/a, 2015). 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Misperceptions created by popular media as well as the diverse careers paths of those holding psychology degrees have contributed this confusion. Psychology is both an applied and academic field that studies the human mind and behavior. Research in psychology seeks to understand and explain thought, emotion, and behavior. Applications of psychology include mentalRead More Foundations of Psychology Essay813 Words à |à 4 PagesWhen psychology first emerged as a science, the process of explaining the human mind and human behavior began. In this essay we will present a brief synopsis of what psychology is and introduce the reader to the primary biological foundations of psychology that are linked to behavior as well as introducing the reader to the major schools of thought in psychology. In Kowalski and Westen Fifth Edition of Psychology, psychology is define as ââ¬Å"the scientific investigation of mental processes such as;
Tuesday, May 5, 2020
Global Financial Crisis 2008
Question: Write an essay on "Global Financial Crisis2008". Answer: Introduction Global Financial Crisis 2008 has been defined as the worst hits to the economies of various countries across the global post the Great Depression of the 1930s. The Crisis was such a dangerous pest that it shook almost all the financial markets worldwide. The intensity of the crisis was such that its effects are still felt by many economies. The outcome of the sub prime mortgages in the United States of America also infected various developed and developing nations simultaneously. Suddenly the banks stopped trusting each other even though there was intervention from the US Federal Bank. Nothing could stop the crashing down of the stock market and within no time the economies broke into shatters. The arrival of such a crisis was being felt from 2007 itself and all efforts to fight the same was futile and towards the end of the year 2008 , Lehman Brothers declared itself bankrupt which gave shock waves across the globe and the typical notion that big banks cannot ever fail was questione d by the public (Jones, 2009). What is Global Financial Crisis? After 78 long years the economies worldwide faced financial difficulty in the year 2008. The housing market was at a boom before 2008 when suddenly the prices dipped much below the purchase price also which first affected United States and then the fire spread to various economies globally. The sectors that were hurt the most was the investment banking, insurance, mortgage lending companies. The injuries of the crisis was not only felt by the financial hubs but also by the businesses who ran basically on credit. The loans were made available so cheaply that it raised the demands to an extent that people started living debt owned lives. The banks and the institutions made home loans so lucrative that lay men who were unaware of the policies and the terms agreed to take such loans in lieu greed to buy houses beyond affordability. These loans were sold to banks and two Chartered Accountant Institutions which in turn gave them more money to lend further. This way the bubble was built up and gradually and slowly it burst out (Elliot, 2011). The final tremors were felt in Sept 2008 however the trailer of the tremor had started to release since January 2008 when Bank of America completed its purchase of the Countrywide Financial Corp , the largest mortgage lender of USA. The next trailer was released after two months in the month of March when JP Morgan Chase saved the bankruptcy of Bear Streams- A Wall Street Investment house. Even the Federal Bank had to chip in $30 Billion to save Bear Streams (Mathiason, 2008). Then the final earthquake was felt across all countries. America tried to absorb the shock alone but could not two most preferred investment bankers Merrill Lynch and Lehman Brothers faced a market downsize of their shares. Bank of America again moved ahead and at 50 percent of its value bought Merrill Lynch which saved it from declaring itself as bankrupt. However to the unfortunate luck of Lehman Brothers who could not find a buyer for itself declared bankruptcy the very following day after the buy out of Mer rill Lynch. Thus it led to tumbling down of the strongest of the financial pillars of USA in some few days time. The speed was so rapid that the government did not get time to react. But the crisis did not halt in USA only. It marched down across all the continents (Havemann, 2010). Thus very soon this fire burnt the hands of many economies and the financial viabilities of individuals, entities, business houses and even economies were totally snapped off. The waves of the financial crisis was so strong that it did not leave a single stone untouched globally. Causes of Global Financial Crisis It would be very unfair to blame the Sub-Prime Mortgages the only reason for this catastrophe. There were other contributories also which should not be ignored and safeguarded. The other contributions that led to this fall are mentioned as under: Lust : Greed or lust to earn more is not a very bad thing but if the same greed takes a negative turn then it can be harmful for the economy also. Similar was the situation in 2008 when people wanted to become rich by investing into real-estates without even conducting proper surveys before such investments. Rising volumes of easy loans and the incorrect credit rating which rated these loans as investments and corruptive politicians who forced banks to give loans to people who were not worthy of it all fuelled up this crisis (Davies, 2014). Securitization: Providing a pool of investment instruments nd wealth creating assets as collateral to the investment bankers and similar financial hubs is termed as securitization. During this time frame many loans were distributed without taking proper credit worthy calls When the financial down surge hit then these investments and loans which were unworthy all failed to liquidate. This also aggravated the said financial crisis (Maxfield, 2015). Credit Rating Agencies: In lieu of making undue profits three most worldwide recognized rating agencies namely S P, Moody and Fitch classified the subprime securities as investments. Partly this is said to be due to incompetency of classification whereas the other part defines that they were bribed by these issuers of the securities. Thus these agencies misutilized the trust that the general public has on them. Off Balance Sheet Risk: The non-recognition of the risky assets in the balance sheets of the financial institutions because of increasing securitization made the financials statements look rosy to the investors. This also fuelled the occurrence of the mishap. Regulatory Framework: The institutions and the financials analysts were new to such kind of financial products loaded with such easy guidelines and rules that led to the financial instability of many firms and thus contributed to the economic crash. Effect of the Global Financial Crisis on the World Economy The financial crisis in the year 2008 was very aptly termed as the Global Financial Crisis as it took a toll over all the economies across the globe. There was withdrawal of support from banks, corporations, investing agencies and the financiers which aggravated the situation further down. People were al trying to safeguard themselves from the effects of this crash rather than pulling back their economy. The effects were so steep in nature (Naude, 2009). However it is a very amusing fact that the impact was varying amongst countries. The fact that the economies would not have been affected is a misconception as to flourish it is important to have economic linkages across boundaries (McComick, 2009). The first bolt was felt in the employment sector. All the sectors had cut down their production or had to shut down industries due to slipping down of demands for the products because of low purchasing power. This in turn led to jobless situation and a fear into the minds of the job class as to how long is there job secured. People were not sure how long will they be able to feed their families, the depression was dug so deep (Nissanke, 2009). The crisis though had hit almost all the countries yet some had to suffer deeper cuts. The under developed and the developing nations were the worst affected. The economies of countries like India, China, Japan have still not been able to come out of its effects fully. The inflation index has soared up since then and is still rising so much that people are unable to cope up with it. The purchasing power dipped thus the standard of living got a thud(Institute of International Finance,2008). Apart from United States , Europe was another advanced continent which jad to also face the brunt of the crisis. Many big corporate houses, investment banks, and other lending institutions came down and were into ashes. The government could only extend its helping hand towards bailing out the better firms and thus many smaller ones collapsed under this pressure (Shah, 2013). Africa was one continent which felt the least of tremors. It is one continent which has least interactions globally. It has always stayed isolated in comparison to other continents. But the fire had touched Africa too even if not as deep as in other parts of the Universe. It had disturbed the Balance of Payment situation of these countries which overhauled there growth (African Development Bank,2008). Impact of Global Financial Crisis in Australia Australia felt the least of the tremors of the Global Financial Crisis . Amongst the developed nations it could easily sail through the effects of the GFC. Its economic graph tilted slightly towards the negative only in one quarter but it immediately moved in the green channel in the very next quarter of March 2009. The banking sector continued to report profits with no significant failures. However the bad debt levels had increased tremendously. The country is said to be fortunate enough to sail through it because of its stringent policies and economic management (Edey, 2009). There were many reasons which prompted that Australia could have been the worst hit countries amongst many others. The reasons were the highest number of asset backed securities issued by the country, the largest hedge fund share in Asia with no regulations governing the working of this sector, heavy dependency on the foreign inflows by the biggest four banks of the country. The stock exchange fell down by 40 percent (Berg, 2014). The most appreciated outlook of Australia was that it had learnt from the 1990 crisis which led to failure of its two government banks. It is this incident which improved the manner in which banks are to work.They had also raised funds abroad but not for buying these risky securities but for its own country. The banks were already in a zone of high income via there loan models which made these highly risky securities less attractive to them. Australia was not much affected also because of its low interest in the sub prime mortagges. The continent was however exposed to a huge current account deficit which also it walked through easily due to government surpluses (Brown, Davis, 2010). There is no doubt to the fact that Australia had also felt the slaps of falling housing prices yet the effects were minimal because of the policies that were framed by the regulatory authorities. The economy of Australia is however still facing the risks of bank loans failures and goof ups which may take place due to leveraging of the housing loans. Pension funds have been eroded to some extent due to falling stock exchange. The investors both small as well as big had to face the situation because of there risk taking appetite which had forced them to buy risky investment products. However even after all these after effects which the continent had to suffer its economy is still in a very decent shape as compared to the other developed economies such as that of European Countries and the United States of America. The government of Australia has taken a lesson from there past and this is what enabled them to have huge reserves and enough surplus to enable its continent to survive hail and hearty (Alexandar, 2013). Conclusion Thus on a summarizing note it would not be fair to say that GFC 2008 had shattered all the economies across the globe. Some have been able to sail through successfully. But nonetheless we cannot deny this fact also that the affected countries are still reeling under its effects. The consequences have been such that recovery is still at its nascent stage. It is to be understood that the present scenario is posing a picture of yet another crisis soon to happen. The World Bank and the International Monetary Fund have released predictions that the growth rate of the developing countries will slow down even further. There is a sudden upsurge in the economy of China which is like an alarm bell to rise the eye brows of many countries again. There is again a housing bubble being noticed in the sky , not as strong as it was in 2008 but if not taken care of in the near future then there are high chances of such a repetition. The increasing dumping activity needs to be controlled at its earliest else we are foreseeing another storm of crisis which may destroy the future forever. 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African Development Bank,2008, The Current Financial Crisis and its Impact on African Economies, Briefing Note 1, presented at the Ministerial Conference on Financial Crisis, , Tunis. Naude, W., 2009, How will the Financial Crisis Impact on the Developing World and What Can be Done About it?, viewed on 25th May 2016, McComick, L., 2009, 8 Countries Hit Hardest by the Global Financial Crisis, viewed on 25th May 2016,
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