How to Make 1000 pounds a profitable Investment in UK Stock Market Essay

How to Make 1000 pounds a profitable Investment in UK Stock Market - Essay Example b. Acting on rumours knowing that it is in fact a rumour. c. Buying Dividends for long-term investment in stock market. It is a stable and less risky way of earning profit. d. Opening an account with a broker. e. Investing in Penny stock to earn profit. Method 1 Basic Plan: The first method is to look for companies that have undervalued ratings. This method does have it perks considering that undervalued firms have a lot of value, of which general public is unaware, due to rating agencies (Graham, 1985). Now the first scenario is an investor having ?1000 and he or she has to make money through investing it in stocks looking for undervalued companies. The first reasonable thing that the investor should do is to look into companies, which have the least value on the FTSE index. For example, the investor comes up with four companies, whose stock value is ?2, ?3, ?3.50 and 3.75. Initially, I will analyse why that particular company is undervalued, does that company have large debts that it needs to pay, or the company has a record of bad investments or if the company was indicted in law-suits involving fraud etc. If the company has large debts, the investor shall see the prospects of that company paying off the debt while pragmatically and logically calculating, the duration in which the company will be able to pay its debt. If the investor wants to earn the money quickly i.e., in a week and he or she is able to find a company that can pay off its debt in two weeks, it would be best to buy stock of that company. And if the prospects of paying debt are low, the investor shall not invest in that company because of the obvious downfall state of the company. One thing that shall be kept in mind that, one must not sell all the shares if there is a slight rise in stocks because of the thought about, being on the safe side. One must project a slight confidence by observing the attitude of the market towards that company if that attitude is confident towards it then thereà ¢â‚¬â„¢s no need to sell the price and if the attitude contains lack of confidence, then one must sell shares at the price offered as earliest as possible, if one wants to liquidize stocks instantaneously. Another way is to invest it, in two or more companies at a time. The approach shall be the same as above and the reason to invest in two or more companies at a time; is unreliability in any one company. It’s just an alternative because companies are being kept undervalued for specific reasons. Sometimes the reason is right and justified in view of the person who wants to invest, but not always. This is a good way to earn money, but the chances of earning money quickly are very bleak. Drawbacks: The biggest risk involved in this kind of investment is, in case undervalued company gets further devalued because in such cases the value of stocks further decrease, resulting in loss for the shareholders. Another drawback of this plan is lack of experience of the investor who is in vesting the amount of ?1000, which is a high value. It is very important that a person should be an experienced investor person while investing because then there might be rational discussion taking place instead of decisions made on gut feeling. Another risk here is of fraud and being conned, which is very common for new investors. A new investor might get caught because of his or her

Week 5 Essay Example | Topics and Well Written Essays - 1000 words - 1

Week 5 - Essay Example hat the racial composition of Baltimore neighborhood is dominated by the African American, followed by the Latino and the remaining portion occupied by few whites. Evident socio-economic disparity which places significant Black population at the low income end is reflected in spending pattern. It can also be noted that the number of supermarkets and food chain stores are relatively few (Leslie 14). This is another indicator of limited access to high quality food. It is worth to note that price and demand are inversely related and this is reflected in the food spending pattern in Baltimore. The few food chain stores can be seen as directly proportion to the few high income white races. The graph indicates that the bulk of the population is low income earners. The consequences are less incentive of quality food selling stores top set up branches in such places. This translates to access to cheaper food which has relatively lower nutritional value. In the case of Baltimore with a low in come majority, prices have to be down with grocery ranging $1.99 - $3. This means that when food prices are high, the income level of people determines choice of quality. Junk food remains accessible but has significantly higher fat content which poses health risks to the population. It is important to note that availability of accessible pack and other open public places are instrumental in determining the need to undertake physical exercise. However, there tend to be a relationship between existence of such social amenities and the income of the surrounding. Baltimore is a case of limited public places where people can exercise their physical bodies. The result is poor physical health prospects and potential exposure to obesity. The prevailing average income of the majority is a central factor in setting diet standards. In essence, low income means elasticity to food prices and hence access to low quality cheaper food (Leslie 23). The problem with this is high risk exposure in regard

Intersections Of Race And Gender Sociology Essay

Intersections Of Race And Gender Sociology Essay Gender identity originates from the experiences of our lives and these experiences differ not only based on gender but also by other factors such as race and class. These identities are formed under the narrow structures of stereotypes, which are created as a system of social control (Andersen 311). The interactions between race and gender create stereotypes about men and women. An analysis in Sociology: Understanding a Diverse Society by Margaret L. Andersen and Howard F. Taylor and Jacquelynne S. Eccles article Gender Role Stereotypes, Expectancy Effects, and Parents Socialization of Gender Differences reveals that gender intersects with race, thus proving that manhood and womanhood emerge due to systems of prejudice and discrimination that are inextricably intertwined with race, class, and gender. Gender is part of our social structure, just as race and class are. When applied to Camara Phyllis Jones article, The Gardeners Tale, men are the red flowers and women are the pink. From the moment of birth, men and women are put into different pots. These pots symbolize socialization because the separation affects the course that a man or womans life will take. However, institutionalized sexism causes the options to be distinct. Jacquelynne Eccles of the Institute for Social Research at the University of Michigan suggests that parents are role models. Actions as simple as giving a toy truck to a little boy and a Barbie to a little girl can help develop a childs gender identity. If a child grows up with a mother who is very athletic, she is more likely to view sports as a normal part of being a girl. The same idea can apply to a boy; if he sees his dad treating his mom kindly, he is less likely to abuse his own wife. Personally mediated sexism revolves around the concept of omission. This can be seen when men are given power, prestige and economic resources for they are believed to become the next world leaders, doctors, businessmen, engineers, and scientists (Andersen 315). Women grow up wearing frilly pink dresses and are taught to be gentle and remain at home. They are excluded or discouraged from entering certain schools or career paths because they are expected to not have the capacity to exceed in certain fields. Lastly, there is internalized sexism, which can be seen in early adolescence. This once again reintegrates Eccles statement of how parents play a critical role in influencing their childrens social self-perceptions, interests, and skill acquisition (Eccles 184). Early adolescence is when people begin noticing the existence of gender differences and believing in them. Young women, generally, view themselves as having a lower math ability in comparison to young men. They go on to express less interestà ¢Ã¢â€š ¬Ã‚ ¦in studying mathematics and in en tering math-related professions (Eccles 184). Females do believe that they are more competent in English that their male counterparts and males believe their athletic competence is greater than a females (Eccles 184). Gender inequality does not exist in its own sphere. It coincides with race and class inequality. As M.P.P Root questions, is it possible to separate the gendered experiences from the racial existence (Root 162)? Latinas and African American women are discriminated by both race and gender and even possibly by class. White men, usually, are given more power; however, this does not apply to Latino men. Tim Wise, a White man, explains that he had experienced this unearned privilege. Growing up, he was given the benefit of the doubt if he did not succeed. African American men felt a weight on their shoulders for if they did not succeed, then they would be proving the stereotype, African Americans are inferior to Whites, true. Gender identity incorporates racial identity. Females are taught from a young age to have characteristics of femininity that include a nurturing yet confident personality. They should seek higher education and a career. However, African American women, compared to White women, have a greater likelihood of declaring their independence. This aspiration may come from the fact that their mothers were often career orientated women who relied on themselves. Males are also affected by their racial identity. Latino men are almost expected to embody the stereotype of machismo, exaggerated masculinity which is associated with sexist actions and honor, dignity, and respect (Andersen 313). Despite the existence of such behaviors, the relationship between Latino men and women is multidimensional (Andersen 313). These families are egalitarian so the decisions are made by both the men and the women. African American men are also subjected to certain associations such as accountability to family a nd self-determination (Andersen 313). As they mature, they in turn put a greater stress on themselves to be the breadwinner. People acknowledge that race includes systems of privilege and inequality, yet they do not realize that gender is also controlled by the same systems. Women are generally at a disadvantage when compared to men in aspects such as access to economic and political resources (Andersen 315). Women are denied an opportunity for achievement, influence, and independence. Gendered institutions are the cause of the different experiences of men and women. In a career that is dominated by men, women are treated like outsiders and seen as tokens (Andersen 314). Men, on the contrary, continue to rise to a higher position because they are viewed as more important and the career advancement may simply come from connecting and spending more time with their superiors. Women are not given these opportunities to spend time with their superiors whether it be inside or outside work. The income of an employed woman is less than that of an employed man. However, when analyzed among Hispanics and African Ame ricans, the womans income is approximately the same as the mans. Furthermore, gendered institutions build toward gender roles, which can be defined as learned patterns of behavior associated with being a man or a woman (Andersen 314). Nonetheless, in recent years, there has been a shifting of gender roles. Women are no longer presumed to be the keepers of the house and do womens work and men are working as nurses and primary school teachers and they celebrate a womans accomplishments instead of expecting it to diminish their own. These advancements and the crossing of gender boundaries also bring about drawbacks such as the questioning of ones true gender identity (Andersen 321). The roles that both men and women fall into are not random but rather are conditioned by the social context of their experiences (Andersen 313). Experiences are affirmed by race, class, and gender standing. Each exhibits different effects, depending on a persons location in the interconnection of gender, race, and class relations (Andersen 323). Males and females identify with certain gender expectations. This involves the issue of conformity. Males take risks that can lead to greater violence and all because of the cultural definition of masculinity (Andersen 311). However, it is both gender and race that further emphasize stereotypes. African American men are stigmatized as being hyper masculine and oversexed while Latinos are macho (Andersen 312). Jews, on the other hand, are viewed as being simply intellectual but asexual (Andersen 312). Woman, similarly, conform to their environment and the stereotypes of their race. As David R. Williams and Chiquita Collins state in their artic le, Racial Segregation: A Fundamental Cause of Racial Disparities in Health, it is from this segregation that African Americans lose employment access and thus income. It is no surprise that this social inequality develops into the stereotype of African American women being welfare queens (Andersen 312). Residential segregation also introduces class. Even the White race has its own distinct boundaries. Working-class white women are perceived as slutty, while those of the over-class are frigid and cold (Andersen 312). Experiences of race and gender socialization do interact with one another to create todays societal norms. To be truly able to comprehend the different stratifications among men and women begins with considering how gender structures social experiences. Race, gender, and class are all nuances that affect a persons life. Sometimes, either race, gender, or class may be the primary identity, but together each places a mark on the experiences of a person. This is why I have come to conclude that though race, gender, and class are different, they are interrelated dimensions in our social structure (Andersen 323).

Roman Allusions in Charlotte Brontes Jane Eyre :: Charlotte Bronte Jane Eyre

Roman Allusions in Charlotte Bronte's Jane Eyre The references to Roman figures in Jane Eyre are few but very effective. Charlotte Bronte uses allusions to Nero, Caligula, and Messalina that on the surface appear to be quite simple. However, with further investigation and analysis, it is very clear these simple references are anything but. The first Roman allusion occurs in chapter one in reference to John Reed. Comparing him to Nero and Caligula serves many functions. First, it illustrates just how cruel he is in the eyes of Jane. Second, it foreshadows numerous things about John Reed including his early demise, his frivolous spending, and his lascivious behavior. Another Roman reference occurs much later in the novel. When Rochester is describing the terrible time he went through in finding a wife, he makes a reference to Messalina. The reference alludes to the type of wife Bertha was, and insinuates she was promiscuous. The easily glanced over allusions tell a great deal about the characters they refer to. The first Roman allusion occurs in chapter one, during Jane’s confrontation with John Reed. After catching her reading a book, he reminds her that she is only a dependant and not of the same class as himself, and that she ought " . . . not live with gentlemen’s children . . ." (23; ch. 1). Then, he picks up the book and throws it against her head, causing her to fall, hit her head, and start bleeding. Young Jane shouts, "Wicked and cruel boy! You are like a murderer – you are like a slave-driver – you are like the Roman emperors!" (23; ch. 1) Jane then tells the reader: "I had read Goldsmith’s ‘History of Rome,’ and had formed my opinion of Nero, Caligula, etc. Also, I had drawn parallels in silence, which I never thought thus to have declared aloud" (23; ch. 1). It is those "parallels" that are vital to understanding Bronte’s reference to Roman emperors, and specifically Nero and Caligula. Comparing John Reed to those figures is a shorthand way of saying a lot about his character, and more importantly, it is a clue to what is to become of him. Goldsmith’s account of Nero and Caligula is important in understanding why John Reed is likened to them. According to Goldsmith, Caligula was arrogant, greedy, and cruel (365). He had many vices and hurt everyone around him. Roman Allusions in Charlotte Bronte's Jane Eyre :: Charlotte Bronte Jane Eyre Roman Allusions in Charlotte Bronte's Jane Eyre The references to Roman figures in Jane Eyre are few but very effective. Charlotte Bronte uses allusions to Nero, Caligula, and Messalina that on the surface appear to be quite simple. However, with further investigation and analysis, it is very clear these simple references are anything but. The first Roman allusion occurs in chapter one in reference to John Reed. Comparing him to Nero and Caligula serves many functions. First, it illustrates just how cruel he is in the eyes of Jane. Second, it foreshadows numerous things about John Reed including his early demise, his frivolous spending, and his lascivious behavior. Another Roman reference occurs much later in the novel. When Rochester is describing the terrible time he went through in finding a wife, he makes a reference to Messalina. The reference alludes to the type of wife Bertha was, and insinuates she was promiscuous. The easily glanced over allusions tell a great deal about the characters they refer to. The first Roman allusion occurs in chapter one, during Jane’s confrontation with John Reed. After catching her reading a book, he reminds her that she is only a dependant and not of the same class as himself, and that she ought " . . . not live with gentlemen’s children . . ." (23; ch. 1). Then, he picks up the book and throws it against her head, causing her to fall, hit her head, and start bleeding. Young Jane shouts, "Wicked and cruel boy! You are like a murderer – you are like a slave-driver – you are like the Roman emperors!" (23; ch. 1) Jane then tells the reader: "I had read Goldsmith’s ‘History of Rome,’ and had formed my opinion of Nero, Caligula, etc. Also, I had drawn parallels in silence, which I never thought thus to have declared aloud" (23; ch. 1). It is those "parallels" that are vital to understanding Bronte’s reference to Roman emperors, and specifically Nero and Caligula. Comparing John Reed to those figures is a shorthand way of saying a lot about his character, and more importantly, it is a clue to what is to become of him. Goldsmith’s account of Nero and Caligula is important in understanding why John Reed is likened to them. According to Goldsmith, Caligula was arrogant, greedy, and cruel (365). He had many vices and hurt everyone around him.

America’s Education System

In today†s world the average student goes through 13 years of schooling, four of those at the high school level. By the time the student reaches high school they should already know all of the basic skills, reading, writing etc, but do they? The basic goal of secondary schools across America is to educate America†s youth and prepare them for life after high school. Is this really happening though, are students prepared for life after high school? I feel that high school is the perfect medium between elementary schooling and the real world, you can get out as much as you want. Theodore R. Sizer who wrote â€Å"What High School Is† thinks that America†s public education system is not good enough. Dr. Charles Eliot says, It is, students just need to try harder and set their standards for achievement at a higher level. First of all, who should decide the goals of America†s education? The Commission of the Reorganization of Secondary Education has the ultimate say, but many feel that is not good enough. Many feel that society should be able to have some input in America†s youth future, while others say that it should be up to the student to decide what they want to learn. If there is something wrong with high school education, I feel that the community has a say in how to fix the problem. That is ultimately tough to do though, since the Commission of the Reorganization of Secondary Education has the overall say in America†s education system. The goals of the American education system are all related together to get a person ready for the real world. These goals, which many think are not good enough, range from school to school. A former high school student said, â€Å"We learned social skills, basic logical foundations, but often overlooked skills as cooperation, teamwork, and meeting deadlines.† She believed, that everything you need to know is learned in kindergarten. Know of course that is not true but the idea is there, as she puts it â€Å"we just spent the last 12 years reaffirming these life-molding skills.† Why should adolescents even go to school then, if they are not learning anything? You have all heard a student say â€Å"I am never going to use this later in life,† this is true a lot of the material taught in the classroom will never be used in the real world but much of it is very useful, and the students don†t pick up on that. They think that since one thing won†t be useful then it all probably won†t help them succeed in the real world. Students that think â€Å"I am never going to use this later in life† need to change their attitude. They don†t know that they will probably use everything that they learned in their whole life once again in the real world. Even if you learn something in which will no way be useful later in life, who cares! You know more than the person sitting next to you. Maybe one day that point will be useful, you never know. In â€Å"What High School Is† by Theodore R. Sizer, it is said, â€Å"The adolescents are supervised, safely and constructively most of the time, during the morning and afternoon hours, and they are off the labor market. That is what high school is all about.† Sizer believes that adolescents just go to high school because that is what their parents did and their grandparents did. This is a great statement because many students don†t know that they are not required to go to high school. You can do what ever you want to do, whether it be getting a job or being a bum on the city streets of Seattle. Most kids just keep on going to school because their parents tell them to. Sizer said, â€Å"The purpose of going to school is to pick things up, in an organized an predictable way, the faster the better.† He also goes on saying â€Å"In a word, school is sensitively accommodating, as long as students are punctual, where they are supposed to be, and minimally dutiful about picking things up from the clutch of courses in which they enroll.† Sizer is trying to say that the objectives of high school are teaching students how to go to class on time. That is one thing that comes naturally with going to school but I don†t think it is one of the main points that high schools are trying to get across, but merely a step towards setting a firm foundation to getting ready for the real world. High school, in my opinion, needs to teach these four following areas more in depth, cooperation, teamwork, responsibility and time management. Teaching these things should be the first step in the rise of students ability to survive later in life. Time management especially needs to have a strong emphasis put on it. That alone is what the real world revolves around. For example, you can†t be late for a job, or not turn in work or you will get fired, that is just the way life is. We should teach students about themselves, so they will know how to manage themselves out in the real world. They need to know how to have a â€Å"healthy relationship with all of those around, whether it be a fellow student, co-workers, boss or manager, teacher, pupil or your friends† said a former high school student. Now sure these are all formulas that people have, saying they will improve high school learning dramatically. Even my ideas are only ideas, and they have never been tried out, so who know if they will work or not. High school is not that bad, a lot of people have been through it and they have made it out in the real world fine. This all goes back to the question â€Å"Why are high schools the way they are?† I think they are how they are because they work. They are the perfect place for a student to learn skill such as cooperation, teamwork, responsibility, and time management as well as many others. High schools have been the same for many years, and probably won†t change for years to come. Even though many of us feel that high schools are not teaching enough. I think the main problem is that students are not trying hard enough. If students really push themselves then they will achieve far ahead if they would have done nothing, and let the learning process go on by itself. It is up to the student how much information he/she wants to take in because it is all out there. It†s just waiting for the right person to grasp it, the person who wants to succeed and is willing to try hard to get it. So why do so many kids end up not learning a lot in high school? It all goes back to how hard they tried. This brings me to a good point; it is all up to the parents to keep their kids involved in school. That is why a lot of kids drop out of school or just don†t care about school because their parents could care less. Parents are in charge of their kids and from personal experiences; they really can have control of what can and what can†t be done. I bet the average A student has hade some rules set down by their parents, be it a bedtime or planned time to do home work. Have we answered the question that arises here? Why are high schools the way they are? They are they way they are and they are not going to change in the near future because, they just flat work. High school is the perfect medium for the ill-prepared student and the excelling student. It is a place were basic values are learned, and for some much more can be learned. It all goes back to how hard the student tries, and how much they want to learn. America’s Education System In today†s world the average student goes through 13 years of schooling, four of those at the high school level. By the time the student reaches high school they should already know all of the basic skills, reading, writing etc, but do they? The basic goal of secondary schools across America is to educate America†s youth and prepare them for life after high school. Is this really happening though, are students prepared for life after high school? I feel that high school is the perfect medium between elementary schooling and the real world, you can get out as much as you want. Theodore R. Sizer who wrote â€Å"What High School Is† thinks that America†s public education system is not good enough. Dr. Charles Eliot says, It is, students just need to try harder and set their standards for achievement at a higher level. First of all, who should decide the goals of America†s education? The Commission of the Reorganization of Secondary Education has the ultimate say, but many feel that is not good enough. Many feel that society should be able to have some input in America†s youth future, while others say that it should be up to the student to decide what they want to learn. If there is something wrong with high school education, I feel that the community has a say in how to fix the problem. That is ultimately tough to do though, since the Commission of the Reorganization of Secondary Education has the overall say in America†s education system. The goals of the American education system are all related together to get a person ready for the real world. These goals, which many think are not good enough, range from school to school. A former high school student said, â€Å"We learned social skills, basic logical foundations, but often overlooked skills as cooperation, teamwork, and meeting deadlines.† She believed, that everything you need to know is learned in kindergarten. Know of course that is not true but the idea is there, as she puts it â€Å"we just spent the last 12 years reaffirming these life-molding skills.† Why should adolescents even go to school then, if they are not learning anything? You have all heard a student say â€Å"I am never going to use this later in life,† this is true a lot of the material taught in the classroom will never be used in the real world but much of it is very useful, and the students don†t pick up on that. They think that since one thing won†t be useful then it all probably won†t help them succeed in the real world. Students that think â€Å"I am never going to use this later in life† need to change their attitude. They don†t know that they will probably use everything that they learned in their whole life once again in the real world. Even if you learn something in which will no way be useful later in life, who cares! You know more than the person sitting next to you. Maybe one day that point will be useful, you never know. In â€Å"What High School Is† by Theodore R. Sizer, it is said, â€Å"The adolescents are supervised, safely and constructively most of the time, during the morning and afternoon hours, and they are off the labor market. That is what high school is all about.† Sizer believes that adolescents just go to high school because that is what their parents did and their grandparents did. This is a great statement because many students don†t know that they are not required to go to high school. You can do what ever you want to do, whether it be getting a job or being a bum on the city streets of Seattle. Most kids just keep on going to school because their parents tell them to. Sizer said, â€Å"The purpose of going to school is to pick things up, in an organized an predictable way, the faster the better.† He also goes on saying â€Å"In a word, school is sensitively accommodating, as long as students are punctual, where they are supposed to be, and minimally dutiful about picking things up from the clutch of courses in which they enroll.† Sizer is trying to say that the objectives of high school are teaching students how to go to class on time. That is one thing that comes naturally with going to school but I don†t think it is one of the main points that high schools are trying to get across, but merely a step towards setting a firm foundation to getting ready for the real world. High school, in my opinion, needs to teach these four following areas more in depth, cooperation, teamwork, responsibility and time management. Teaching these things should be the first step in the rise of students ability to survive later in life. Time management especially needs to have a strong emphasis put on it. That alone is what the real world revolves around. For example, you can†t be late for a job, or not turn in work or you will get fired, that is just the way life is. We should teach students about themselves, so they will know how to manage themselves out in the real world. They need to know how to have a â€Å"healthy relationship with all of those around, whether it be a fellow student, co-workers, boss or manager, teacher, pupil or your friends† said a former high school student. Now sure these are all formulas that people have, saying they will improve high school learning dramatically. Even my ideas are only ideas, and they have never been tried out, so who know if they will work or not. High school is not that bad, a lot of people have been through it and they have made it out in the real world fine. This all goes back to the question â€Å"Why are high schools the way they are?† I think they are how they are because they work. They are the perfect place for a student to learn skill such as cooperation, teamwork, responsibility, and time management as well as many others. High schools have been the same for many years, and probably won†t change for years to come. Even though many of us feel that high schools are not teaching enough. I think the main problem is that students are not trying hard enough. If students really push themselves then they will achieve far ahead if they would have done nothing, and let the learning process go on by itself. It is up to the student how much information he/she wants to take in because it is all out there. It†s just waiting for the right person to grasp it, the person who wants to succeed and is willing to try hard to get it. So why do so many kids end up not learning a lot in high school? It all goes back to how hard they tried. This brings me to a good point; it is all up to the parents to keep their kids involved in school. That is why a lot of kids drop out of school or just don†t care about school because their parents could care less. Parents are in charge of their kids and from personal experiences; they really can have control of what can and what can†t be done. I bet the average A student has hade some rules set down by their parents, be it a bedtime or planned time to do home work. Have we answered the question that arises here? Why are high schools the way they are? They are they way they are and they are not going to change in the near future because, they just flat work. High school is the perfect medium for the ill-prepared student and the excelling student. It is a place were basic values are learned, and for some much more can be learned. It all goes back to how hard the student tries, and how much they want to learn.

Global and U.S. Economy Essay

After a low-key performance for about three consecutive years, prospects for growth of the world economy significantly improved in 2004. This improvement in the economic outlook was widespread across the nations of the world. However, differences in economic robustness among regions and countries persisted. In the preceding two years, macroeconomic policies had been crucial for stimulating the global recovery, but the emerging challenge was for policies to simultaneously sustain robust growth and maintain stable inflation (United Nations, Economic and Social Development Affairs, â€Å"2004† 3) Following a temporary slowdown in mid-2004, global GDP growth picked up through the first quarter of 2005, with robust services sector output more than offsetting slowing global growth in manufacturing and trade. In the second quarter, however, in part reflecting the impact of higher oil prices, signs of slowness emerged, with leading indicators turning downward and business confidence weakening in most major countries. Subsequently, while global manufacturing and trade were strengthened, and leading indicators picked up, the continuing rise in crude oil and refined product prices, which was exacerbated by the catastrophic effects of Hurricane Katrina, acted as a major downward force (World Economic Outlook, â€Å"2005† 1). Nonetheless, the resilience of the global economy in 2005 continued to exceed expectations. Despite higher oil prices and natural disasters, activity in the third quarter of 2005 was in fact stronger than earlier projected, particularly among emerging market countries; global GDP growth was estimated at 4.8 percent, 0. 5 percentage point higher than projected previously (World Economic Outlook, â€Å"2006†1). Global industrial production has gone up from mid-2005; the services sector today remains strong; global trade growth is at a high level; consumer confidence and labor market conditions are on an optimistic note; and forward-looking indicators such as business confidence have risen. Asia is forging ahead, with China enjoying double-digit expansion and India growing very rapidly as well. Growth in most emerging and developing countries remains solid, with a marked buoyancy of activity in China, India, and Russia. After years of deflationary weakness, Japan has embarked on a new path, with personal consumption and labor income joining exports and business investment as the main drivers of growth. Japanese expansion is well established. In continental Europe, activity weakened again late last year, partly reacting to rising oil prices, but accelerated in early 2006 (Organization for Economic Co-operation and Development). There are signs of a more sustained recovery in the Euro area, although domestic demand growth remains subdued in that region. The impressive performance of the global economy in recent years is, truly, a cause for celebration. Accelerated growth is vital prerequisite for poverty reduction in developing countries. Without sustained and rapid growth, lasting poverty reduction will prove elusive (Krueger). Though hurricanes had a damaging impact in the United States, it was but a transient one, and the activity was already bouncing back early in 2006. Among industrial countries, the United States remains the main engine of growth. In 2005, the U. S. economy expanded by 3.5%, a rate slightly above potential growth for the U. S. economy, leading to a decline in the unemployment rate from 5. 4% in the fourth quarter of 2004 to 4. 9% in the final quarter of 2005. The economy added nearly two million jobs in 2005, averaging 165,000 jobs per month. Yet the economy experienced a substantial swing in economic activity beginning in the third quarter of last year. Real gross domestic product (GDP) expanded by 4. 1% in the third quarter, slowed drastically to 1. 7% in the fourth quarter, and then bounced back up to 5. 6% in the first quarter of 2006. (Strauss and Engel).