Debt bondage

In the book, Winner-Take-All Politics, the authors Jacob S. Hacker and Paul Pierson take a look at how over the last half a century the economy of the United States has become skewed to benefit the richest of the rich in the country. They treat the problem as if they were solving a crime, referring to the information and data they collect as DNA evidence or clues, and run through a list of prime suspects (13). They describe how others have interpreted the facts, and come up with different…

Social Stratification in The Hunger Games Many people consider their daily lives to be “normal.” To someone with privilege, being picked up from school in a Lexus and going home to a 6,000 square foot house is typical. To someone less fortunate, this is outrageous when buses and apartments are the norm. The world is divided up into social classes, from rich to poor, and those found in between. In fact, many novels revolve around this. Suzanne Collins accurately depicts social stratification in…

In Cormac McCarthy’s book No Country for Old Men, there is a certain character that stands out from the rest of the characters. That character’s name is Anton Chigurh. Anton Chigurh is hired to retrieve the case of money that Llewellyn Moss took by any means necessary. Chigurh is described as a cold and calculated killer who will eliminate anybody that gets in his way. Even though Anton Chigurh kills, steals, and works for a leader of a drug gang, he possesses values, skills, and principles that…

In my current job in the petroleum industry where we sell and buy fuel and lubricants, the concept of account payable is applicable in the following ways. • We do get goods sometimes on credit from our suppliers of fuel and pay at a later time if we do not have all the cash required to procure the number of litres we require • Within a period agreed with our supplier, usually 7 calendar days, we make payment in full for the balance of the cash outstanding • If by any chance we did not make…

Introduction When we rely on banks for money transfers, online payments, money withdrawal or just savings, we are giving them trust; we have to trust that the bank will not go bankrupt and that our money would always be available for us; furthermore, we have to provide all our personal details, trusting that those will not be disclosed without our agreement. If we wanted to avoid using banks as intermediaries, we would have to keep all our savings in cash, which means it would be impossible to…

There is a difference between good and bad debt. Good debt makes you money, bad debt costs you money. An example of good debt might be a buy-to-let mortgage on a rental property with a tenant paying off the mortgage. Bad debts are credit cards, car loans, personal loans etc. Formulate a plan to clear these debts as soon as possible. You will never have financial freedom if you continue to fork out on high interest rates every month. As you pay of your debts, don't just spend the now surplus…

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We all live extremely fast paced lives; we try keep dodging demanding businesses and maintain worst of most working with the every day road rage and techno-savvy kids. Folks are more stressed than in the past. Given the additional financial pressure of encouraging a family though it's not surprising, and paying the mortgage in the current global downturn. A recent survey conducted by the American Psychological Association shows that 80% of Americans are worried about the economy, due to the…

Amaranth Introduction Amaranth Advisors LLC was a hedge-fund established in the year 2000. It was headquartered at Greenwich, Connecticut in the US. It started off as a multi-strategy hedge fund. But, as time went by, it found itself being a natural gas trader as majority of its position was in this commodity only. Nick Maounis was the founder of this hedge-fund. In September 2006, Amaranth made losses of USD 6.6 billion. They were trading in both the regulated NYMEX (New York Mercantile…

MANAGING INTEREST RATE RISK The interest rate risk management is very important and many technical instruments have been developed to understand the interest rate risk. The interest rate risk majorly comes up in interest bearing asset like loan and bonds as there exist a possibility of change in asset’s which is the result of variability of interest rates. FUNDAMENTAL INTEREST RATE CONSIDERATIONS The trading of variable rate loan structure is involved during interest rate swaps having fixed…