Laurence Kotlikoff-Hyperinflation--Not Deflation Essay

Laurence Kotlikoff-Hyperinflation--Not Deflation - Essay Example The situation will set up a condition where the people have runs in various banks, for example in Italy, Portugal, and Spain. The situation may spread to all the other banks in the different countries Germany and France all inclusive.He is giving the example that occurred in the recent past, where Cypriot banks failed and claimed that they will not bail off the depositors. Despite the country being small with relatively two small banks, the circumstance led to a main panic in the international state of the economy. He is projecting that a daisy sequence of defaults besides numerous bank runs might end up happening in Europe. Dr. Kotlokoff sees a case where the financial crisis may spread to America. He insists that if only the people will be solvent and get their money out from the banks then the situation could stabilized He further warns that, if the people or the investors are running to the banks, everybody will want to run to get the money out instead all perish due to failure. The professor goes ahead to say that, with the plunging of the oil prices, the Russian banks are also seemingly at a significant risk. Questions are posed regarding the sustainability of the fiscal policy of Russia given the dropping the prices of oil. There is evidence that about 40% of the Russian revenues come from the sales of oil. Therefore, there is a concern over the oil prices that may result in failure of the Russian banks as well. He points out to the failure of the Russian banks in 1998 holding that there were eminent concerns regarding the printing of huge amounts of the government money. It is clear from the clip that there are concerns about the demand deposit of insurance in the USA. The FDIC insurance of the United States is said not to be a real insurance given the case where almost everybody has apprehensions about inflation. He then gives an example that, if he knows that the prices of commodities are going

THE RELATIONSHIP BETWEEN CRIMES RATES AND GUN OWNERSHIP IN SAUDI Research Paper

THE RELATIONSHIP BETWEEN CRIMES RATES AND GUN OWNERSHIP IN SAUDI ARABIA - Research Paper Example udi Arabia is the reserves of Oil that the country possesses in a huge quantity, being the world’s second largest country in terms of reserves of oil. Saudi Arabia is a country that does not have a separate code of law because it follows the Islamic Shariah laws which are the strict code of conduct being followed in the country. Saudi Arab basically lies in a desert zone, covering about 80% of the Arabian Peninsula (Abir 1993) The culture of Saudi Arabia is strictly Islamic where there is a large majority of Muslims. Everyone is bound to pray 5 times a day, even forcefully if found on streets near mosques not praying. Non Islamic practices such as consumption of Alcohol are strictly forbidden and it is compulsory for women to wear ‘burqa/hijaab’ while they are not at homes. It is a regular practice for men to marry multiple times, more than twice and men are generally more dominant in Saudi Arabia. Capital punishment in Saudi Arabia is frequently observed and a few years back from now, it was quite famous that during prayer times, when all the shops in streets are open while people say their prayers, nobody dares to get involved in theft. In recent years however, the crime rate has increased in the country, the reasons for which will be observed later. Punishments such as amputation, beheading, lashing and death are imposed by courts of Saudi Arabia depending on crimes including murder, theft , rape, robbery or adultery. Saudi Arabia faces many social issues such as corruption, unemployment and extremism. The confusion lies in the fact that Saudi Arabia wants to become a modern country but does not want to leave its traditional Islamic culture and practices at the same time. Additionally, Saudi Arabia is also accused of financing terrorist operations throughout the world in the name of Jihad (Sacrifice for saving Islam and for God). Moreover, the National Society for Human Rights which is a human rights organization operating in and funded by Saudi Arabia