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Quarterly profits are quarterly profits, right? A company simply
reports the revenues and costs associated with a three-month period
and the difference must be the net gains or losses accrued by the
firm. In theory this is how it works; reality often paints a
The stock market has been lurching upward, with the Dow Jones
Industrial Average recently crossing the 8,000-point threshold.
Many pundits and commentators have interpreted this sign as the
beginning of a recovery. This assumption is based on the belief
that the stock market is a leading indicator of economic growth.
While it is true, historically speaking, that the trough of the
stock market has preceded economic recovery, it is still premature
to declare that we have reached the trough. There are several
reasons to believe that the current uptick may not herald the
recovery we all hope is around the corner.
The popular fury at the executive bonuses paid out by American
International Group is well placed. Despite the fact that these
bonuses represent only one tenth of one percent of the total
bailout money received by AIG, the symbolism of these bonuses
enrages the average taxpayer. However, rather than bonuses, I would
like to examine the underlying cause of AIG's financial woes.
President Barack Obama's recent budget proposal, as outlined in
his address to Congress, requested $634 billion to be set aside for
health care reform. Health care reform is a topic that has been
touted by many politicians with little to show for it. Due to a
lack of specifics from the Obama administration, I will instead
outline my own proposal for health care reform.
It seems as though a day cannot go by without hearing the
N-word. That's right, I'm talking about nationalization.
There is a lot of financial and economic jargon and buzzwords
floating around these days. From Washington to New York, numbers
and terms are being thrown about with abandon. It has become clear
many people do not fully understand the subtle and not-so-subtle
differences in economic policy.
The cornerstone of any civil society is the rule of law. Laws
are only effective when there are mechanisms in place to punish
those who flout the law or otherwise engage in criminal behavior.
Without such deterrents, the rules of civil society become
The Friday after Thanksgiving has come to be known as Black
Friday. It is a chaotic day characterized by sales, shopping and
throngs of people. Black Friday is perhaps the busiest shopping day
of the year. The term "Black Friday" was coined because it is the
day that retailers typically become profitable for the year or go
"into the black."
During times of economic turbulence we need a concerted effort
by the government to promote stability. The magnitude of the
situation precludes most individual private efforts from meeting
any success. There are two tools that the government has available:
fiscal policy and monetary policy.
By the time you're reading this, the next president of the
United States will have been swept into office by the largest
American voter turnout in history. Right now, the future of the
country is more on the minds of the American people than ever
before. As good an indicator of the excitement as any is the
300-plus point surge the Dow underwent during trading yesterday.
Watching the MSNBC pre-game show, there is unanimous agreement on
at least one point: This is the most important election in U.S.
history. Ask yourself why that is? What is at stake? Increasingly,
we as a people are realizing that the time-honored tradition of
American global supremacy is in danger. From a historical
perspective, we see this as a critical moment in time where our
actions and the actions of our leaders will come to define our
continued prosperity or eventual decline. With that in mind, we
propose to consider the coming challenges facing the American
people, and of course, our new president, whomever he may be. What
are the dangers we face, and how should they be addressed?
Representative forms of governments are based upon on the
concept of voting. Casting a vote gives an individual a voice in
matters of government, which affect all citizens. For these types
of governments to be considered legitimate, they must obtain a
consensus or mandate from the voting public to carry out their
political agenda. This makes it absolutely necessary for voting and
elections to remain free and fair. The voting public must be sure
that their intent is accurately transmitted through the voting
Anyone who has picked up a newspaper or glanced at a television
in the past month can tell that we are in the middle of a financial
crisis and that it has something to do with subprime lending and
In a letter printed in The Daily Targum on Oct. 8, the author of
"Too lazy to make an informed decision? Then don't vote" decries
the lack of knowledge most students possess about politics and the
upcoming presidential election. This is an interesting topic that
deserves further examination.
In the midst of all the controversy that surrounds the
presidential election, it was easy to miss an interesting piece of
news that deals with the First Amendment. The First Amendment
guarantees the right to free speech, free assembly, free press and
prohibits the establishment of any state religion.