Did deregulation cause the financial crisis essay

Did deregulation cause the financial crisis essay Did deregulation cause the financial crisis? essay Did deregulation cause the financial crisis? essayDo you think that the world is headed towards a cashless society within the next fifty years? Why or why not?In my opinion, the world will become a 99% cashless society within the next 50 years. In other words, cash will be replaced by more liquid, convenient and secure forms of payment. The recent trends towards a cashless economy already illustrate this situation. Many purchases are done using credit or debit cards; there also exist electronic checks, smart cards, electronic payment systems, digital currencies such as Bitcoin, etc. (OConnor Faile, 2010). There are instant payment systems such as PayPal allowing customers to make online purchases in a more secure and convenient way. The popularity of technology and smartphones open ways for NFC payments and other mobile payments. In this diversity of payment forms, cash might be the most inconvenient form it is insecure to keep large sums of cash, the banknotes might become shabby and lose their quality over time, etc. Therefore, more convenient and secure payment forms will eventually replace cash in the future.ReferencesOConnor, D.E. Faile, C.C. (2010). Basic Economic Principles: A Guide for Students. Greenwood Publishing Group.Discussion 2. Describe and critique the Fed’s use of quantitative easing.Quantitative easing is the policy of the Fed which is based on purchasing market securities and therefore decreasing interest rates. Due to the large inflow of capital provided by the Fed, the supply of money increases and therefore liquidity and lending are stimulated. This strategy is used when the economy is in a recession; quantitative easing stimulates lending, investment and spending because it becomes more beneficial to spend or to invest then to save. However, quantitative easing might become inefficient when interest rates are already low (like it is currently in the U.S. economy). Furthermore, quantitative easing might lead to the increase of i nflation if the speed of money supply increase is too quick. In addition, quantitative easing decreases the value of the dollar and makes the currency weaker.ReferencesMacroeconomic Analysis. (2013). Criticism of quantitative easing. Macroeconomic Analysis. Retrieved from http://macroeconomicanalysis.com/macroeconomics-wikipedia/criticism-quantitative-easing/Discussion 3. Deposit insurance can cause a moral hazard problem. Can deposit insurance also cause an adverse selection problem? Please explain.Yes, deposit insurance can cause an adverse selection problem in the banking industry. The problem is that deposit insurance might encourage risk-prone and careless people to enter the banking industry hoping that this insurance would cover the risks. In other words, those who would want the highest risks and would like to gamble with the money of depositors will be more likely to deal with deposit insurance. As a result, the banks present in the deposit insurance system will be more lik ely to have a negative net worth than other banks, which represents the results of adverse selection (Montiel, 2011).ReferencesMontiel, P. (2011). Macroeconomics in Emerging Markets. Cambridge University Press.Discussion 4. Is there a relationship between the unemployment rate and the inflation rate? Please explain.In the short-term, there is an inverse relationship between the unemployment rate and the inflation rate. Indeed, when unemployment decreases, more people have jobs, and therefore more people can afford buying various goods and services. The growth of demand in the short-term leads to the increase of prices, and therefore the growth of inflation is witnessed. If unemployment increases, the processes are reverse and the prices eventually tend to decline, causing deflation. The Phillips curve, which is an L-shaped curve, describes this relationship. However, in the long-term period the relationship does not hold as unemployment tends to reach the natural level, while inflat ion tends to the expected inflation level (Boundless, 2014).ReferencesBoundless. (2014). The Phillips curve. Boundless. Retrieved from https://www.boundless.com/economics/textbooks/boundless-economics-textbook/inflation-and-unemployment-23/the-relationship-between-inflation-and-unemployment-105/the-phillips-curve-399-12496/Discussion 5. Was the repeal of the Glass-Steagall Act one of the causes of the Great Recession? Please explain.No, the repeal of the Glass-Steagall Act was not one of the causes of the Great Recession (2007-2009). The crisis emerged largely due to risky operations with securities that were not covered by the Glass-Steagall Act. Banking companies engaged in risky practices selling derivatives and using risky lending practices which the Glass-Steagall Act did not regulate. In addition, a very limited number of companies used the repeal of the Glass-Steagall Act and combined investment with commercial banking (Calabria, 2009). In addition, the companies which were i n the center of the crisis were not the subjects of the Glass-Steagall Act, and therefore the repeal of this Act could not have affected their activity. Hence, the Glass-Steagall Act was not one of the causes of the Great Recession.

Origins of the Expression Honi Soit Qui Mal Y Pense

Origins of the Expression Honi Soit Qui Mal Y Pense Honi soit qui mal y pense are French words that  youll find on Britains royal coat of arms,  on the cover of British passports, in British courtrooms, and elsewhere of note. But why does this Middle French expression appear in weighty official uses in Britain?   Origins of Honi Soit Qui Mal Y Pense These words were first uttered by Englands King Edward III in the 14th century. At that time, he reigned over a part of France. The language spoken at the English court among the aristocracy  and clergy and in courts of law was Norman French,  as it had been since the time of William the Conqueror of Normandy, starting in 1066. While the ruling classes spoke Norman French, the peasants (who comprised the majority of the population) continued to speak English. French eventually fell out of use for reasons of practicality. By the middle of the 15th century, English again ascended to the throne, so to speak, replacing French in British centers of power.   Around 1348, King Edward III founded the Chivalric Order of the Garter, which today is the highest order of chivalry and the third most prestigious honor awarded in Britain. It is not known with certainty why this name was chosen for the order.  According to historian Elias Ashmole, the Garter is founded on the idea that as King Edward III prepared for the  Battle of Crà ©cy  during the Hundred Years War,  he gave forth his own garter as the signal. Thanks to Edwards introduction of the deadly longbow, the well-equipped British army proceeded to vanquish an army of thousands of knights under French King Philip VI in this decisive battle in Normandy. Another theory suggests a totally different and rather fun story: King Edward III was dancing with Joan of Kent, his first cousin and daughter-in-law. Her garter slipped down to her ankle, causing people nearby to mock her. In an act of chivalry, Edward placed the garter around his own leg saying, in Middle French, Honi soit qui mal y pense. Tel  qui sen rit aujourdhui, shonorera de la porter,  car ce ruban sera mis en tel honneur que les railleurs le chercheront avec empressement  (Shame on him who thinks evil of it. Those  who laugh at this today will be proud to wear it  tomorrow  because this band will be worn with such honor that those mocking now will be looking for it with much eagerness).   Meaning of the Phrase Nowadays, this expression could be used to say Honte celui qui y voit du mal, or Shame on the one who sees something bad [or evil] in it.   Je danse souvent avec Juliette...Mais cest ma cousine, et il ny a rien entre nous: Honi soit qui mal y pense!ï » ¿I often dance with Juliette. But she is my cousin, and there is nothing between us: Shame on the one who sees something bad in it! Spelling Variations Honi comes from the Middle French verb honir, which means  to shame, disgrace, dishonor. It is never used today. Honi is sometimes spelled honni with two ns. Both are pronounced like honey. Sources History.com Editors. Battle of Crecy. The History Channel, AE Television Networks, LLC, March 3, 2010. The Order of the Garter. The Royal Household, England.