Increased Demand For More Resource Intensive Food Economics Essay

Increased Demand For More Resource Intensive Food Economics Essay The increasingly of enhanced productivity and yields of the farm sector have been driving the worldwide food prices falling for the past 25 years. However, this phenomenon came to a sudden change due to the global food prices increased dramatically by 2007, creating a global crisis and causing political and economical instability and social unrest in both poor and developed nations. Increased demand for more resource intensive food The head of the International Food Policy Research Institute stated in 2008 that the gradual change in diet among newly prosperous populations is the most important factor underpinning the rise in global food prices(Wikipedia, 2010), most notably in developing country like China and India. Rising of consumption of meat particularly has resulted in increase demand for grains; One kilogram of beef requires eight kilograms of feed grain, so as the demand for meat surges, consumption of grains by cattle soars, that driving up grain prices. Issue of bio-fuel subsidies Both the United States and European Union have implemented policies by giving the subsidies for ethanol and bio-diesel production to many farmers which have prompted them to switch to production for bio-fuel, even though exactly how effective they are at generating less CO2 emissions and decelerating global warming is actively debated. Ultimately this has diverted the land away from production of corn and soy for food, and reduced the supply of land devoted to growing crops that dont received bio-fuel subsidies, such as wheat. As a result, it generated a huge effect on demand for corn and soy beans. In 2007, for example, the U.S. increase in demand for corn-based ethanol accounted for more than half of the worldwide increase in demand for corn. The problem of imposition of high tariffs From the U.S. and EU markets by high tariffs, which are shutting out manufacturers of alternative products that can be turned into bio-fuels, most remarkably sugar cane, So as a result, the price of imported sugar cane is increased and making it extremely uncompetitive with subsidized corn and soy beans, this is unfortunate as sugar cane is a more environmentally friendly raw material for bio-fuels than corn and soy beans. As matter of fact, the circumstances may get even poorer, in case policy makers have their way. Policies in both U.S. and the EU require increase in the production of bio-fuels, but none of them has permitted decreasing tariff barriers on sugar cane or to remove the trade distorting subsides given to those who generate corn and soy for bio-fuels. 2) Case Discussion Questions 1 Answer Who benefits from government policies to (a) promote production of ethanol and (b) place tariff barriers on imports of sugar cane? Who suffers as a result of these policies? The policies who benefit from the government policies to promote production of ethanol will be the country and its domestic producers. For this case, it will be United States and the domestics producers in United States. Also, it will provide the producers with the chance to expand or increase their export market. For example, Archer Daniels Midland Company is one of the United States domestic company which turn crops into renewable products. At the same time, the tariff barriers on imports of sugar cane would minimize the foreign imports. Most of people believe that the ethanol production provides large benefits to the farmers, but in fact the profits to farmer are minimal. However, most of the domestics producers (like Archer Daniels Midland) are making huge profits from ethanol production which were received the ethanol subsidies. (EV World, 2002) Refer to the attached table from the United States Energy Information Administration: Table 1: In the recent year, the production of ethanol in United States is fully consumption by them and the continuous declined the import of ethanol. This is well obviously the domestics consumption and no import market for the ethanol. In additional, sugar cane, corn and soybeans are mainly used for production of biofuel. Most of the developed countries (e.g. China and India) are usually provided the subsidies, it will make the production of corn, sugar cane increasing faster and the farmers will plant more. These will be also beneficial to the developed countries. The land owners will give the benefit as well as the more ethanol production needed more arable land for crops. On the other hand, the consumers will suffer by paying more for the corn, sugar cane, etc. as the demand for ethanol is increased. In addition, the drivers in United States will suffer a lack of competition as the ethanol prices are higher. Also, the energy and pollution need to be balance of the whole cycle of ethanol production. 3) Case Discussion Questions 2 Answer One estimate suggests that if food prices rise by one-third, they will reduce living standards in rich countries by about 3%, but in very poor ones by about 20%. According to the international food policy research institute, unless policies change, cereal prices will rise by 10% to 20% by 2015, and the expansion of bio-fuel production could reduce calorie intake by 2% To 8% by 2020 in many of the worlds poorest nations. Should rich countries do anything about this potential problem? If so, what Yes we do, from the perspective of ethics the rich nations should provide helps hence these nations is already very well developed and they have more resources or extra resources to reallocate to the poor nations by providing helps to save life. Double approach To tackle the current situation of high food prices by providing emergency assistance to the poorest countries is needed. By revitalizing rural communities and re-launching agriculture are the key elements to reduce hunger and ensure an improved world food situation. Protecting the people who suffers hunger in rural and urban areas would require direct food distribution, food subsidies, cash donation and nutritional programs, such as school feeding. Enhance social protection is also very important for vulnerable groups, including pregnant women, elderly and the children. For short-term action, local food production should be the first prioritize. Subsides program should include the distribution to local farmers of fertilizers, seeds, animal feed or other input. Support should focus on agricultural research serving the needs of poor farmers, many of whom farm in increasingly marginal areas; poor farmers should have better access to factors of production, namely land, water and inputs. If this program worked effectively, such program would enhance the supply response in poor countries and improve food availability, during the increase of the income with small producers and it might also reduce price increases in local markets as well. For mid and long term actions, high food prices also represent an opportunity for increase investments in agriculture by both the private and public sectors to stimulate production and enhance productivity. Invite private firm for investment into long neglected areas such as agricultural research, extension for infrastructure, on the other hand production and trade policies on bio fuels may also need to be re-examined for their possible effects on food markets and food security, especially in those vulnerable countries. If all the short and long terms projects which works effectively, the food prices should decline dramatically because the supply of food increase and it could save millions of peoples who dont have to suffers of hungers and diseases, It may stop the wars between the poor countries which competes again for access to resources. 4) Case Discussion Questions 3 Answer The argument for giving subsides to ethanol producer rests upon the assumption that ethanol results in lower CO2 emission than gasoline and therefore benefits the environment. If we accept that global warming is a serious problem in itself, should we not be encouraging government to increase such subsides? What are the arguments for and against doing so? On balance, what do you think is the best policy? Biofuel as E85 is an ethanol fuel that typically contains a blend of up to 85% ethanol and 15% gasoline. E85 is commonly used in the United States and Europe. Ethanol is one of the best tools to address environmental issues such as reduction in greenhouse effect and exhaust pipe emissions. Because ethanol is made from renewable, plant-based feedstock such as corn or sugar cane. The CO2 released during a vehicle in motion is recycled during the growth of ethanol feedstock. In 2007, U.S. governments have given subsidies to farmers caused that corn production increased to 85 million tons from around 15 million tons in 2000. Also subsidies amount to between $0.29 and $0.36 per liter of ethanol. In Europe the subsidies are as more as $1 a liter. The greenhouse effect is an essential environmental prerequisite for life on Earth. The problem is human activities destroy and accelerate the process by creating more greenhouse gases which include carbon dioxide, emitted by fossil fuel combustion and deforestation etcà ¢Ã¢â€š ¬Ã‚ ¦ Global warming is produced mainly by the growth of greenhouse effect and emission of carbon dioxide. The Earths average surface temperature rose by 0.74 ±0.18  °C over the period 1906-2005. The carbon dioxide emission is estimated some 80 % rise in the economic growth of China. In the meantime the US and EU managed to reduce emissions slightly. It seems that global warming is a serious problem. The initial purpose of the subsidy was to help a nascent biofuels industry, hope to reduce Americas petroleum dependence. However, the ethanol is an effective way to break our petroleum addiction but not be the best of tools to improve the environmental and economic. In case we still encouraging government to increase the subsidies in the ethanol. It can be improved cellulosic technologies for energy efficient, reduce reliance on petroleum or displacement if possible. on the other hand, it may be developed an agriculturally-based rural energy workforce and help domestic producers to earn more revenue and advance economic growth because as the government policy to compete against low-cost foreign imports, gain export markets and improve the environmental better. In turn, Eliminating or not increasing ethanol subsidies will lower your grocery bill, saving $30 billion in wasteful spending and increasing edible maize by 14%. Because subsidies caused high demand for corn and soy beans turn into ethanol, then reduce the supply of land devoted to growing crops, that its existence increases the price of corn, and that food prices rising. On balance, I think the best policy is ethanol has helped in the development of the biofuel infrastructure. The subsidies still carry on but should be set up expiry dates and limit budget, also able to increase subsidies directed towards a broader range of approaches. From the technological and economic benefits, ethanol production still has little potential upside left in process cost reduction. Some subsidies should be used to introduce new competition to markets or support other new technologies to get higher revenue. 5) Application to Hong Kong Business Environment Governments policy is a critical factor. US and EU government implement Bio-Fuel Subsides and high tariff for sugar cane which is part of reason to rise global food price. There are many similar cases in Hong Kong. MTR Corporation Ltd is a typical example. The MTR Corporation was established in 1975 as the Mass Transit Railway Corporation and the Hong Kong Government was the only sole shareholder. Although the Hong Kong Government sold 23% of its issued share capital to private investors in an Initial Public Offering in 2000, Hong Kong Government is still a main shareholder. Since 90s, Hong Kong Government has adopted a transportation policy Railway as a backbone on the public policy. There are now 10 lines, but the Corporation is still developing and expanding its network. Within the next decade, the Corporation will complete five new strategic rail extensions. They include: West Island Line, Guangzhou Shenzhen Hong Kong Express Rail Link, Shatin to Central Link, Kwun Tong Line Extension and South Island Line (East). The Hong Kong Government supports the MTR Corporation Ltd non-stop network expansion. On the other hand, the Government adopts a tight control to others transportation with direct competition with MTR Corporation Ltd. For Example, franchised public bus KMB, who has been constrained the No. of vehicles, Bus routing expansion / abridgment and so on. Application to Hong Kong Resident Supply and Demand is an important issue. Due to the population growth the demand of meet, so the demand of food relatively increase which cause the global food price rise. Hong Kong residents are also affected by the issue of supply and demand of property. The price of property has been dramatically gone up from 40 to 115 since 2002 up to 2012 according to Centa-City Leading Index. In past, the ex- Chief Executive Donald Tsang did not have any policy to increase the supply of property. This result the supply of property maintains on the low level. However, the population of nubile age is increasing and they have a huge of demand on the property. Government is the main supply of property as it provides lands to property developer before property building and it directly build subsidized houses. However, in the past ten years, the supply of property is relatively low. The stop building of subsidized houses and slow land sold by Land Sale by Application, the supply of property is only around 10 thousand per last few years, but the demand of property is around 25 thousand as the No. of the marriages is over 50 thousand in the recent years. It causes a sharp difference between supply and demand. There is not enough supply to fulfil all demand. 6) Conclusion The global food price increase is one of the signs of the global food crisis. Global food crisis is a profound problem to all the human being. 22 countries have already suffered from this issue and more than 900 million people suffer from not having enough to eat every day according to FAO 2010. Global food crisis is more serious than war and environmental crisis as it would create a lot of social issue and affect social stability. Therefore it is time to take precautions before it is too late, we start! General public can as well reduce the food waste. In addition, the case study of global food price increase also shows the importance of governments policy. Government policy affects the business environment the industrys recession or boom. Government policy affects the living standard of general public. To take necessary precautions, Hong Kong resident should keep an eye on government daily operation.

SPRING, A Poem By Edna St. Vincent Millay

SPRING, A Poem By Edna St. Vincent Millay SPRINGBy: Edna St. Vincent Millay (1892-1950) To what purpose, April, do you return again?Beauty is not enough.You can no longer quiet me with the rednessOf little leaves opening stickily. I know what I know.The sun is hot on my neck as I observeThe spikes of the crocus.The smell of the earth is good. It is apparent that there is no death.But what does that signify?Not only under ground are the brains of menEaten by maggots. Life in itselfIs nothing,An empty cup, a flight of uncarpeted stairs.It is not enough that yearly, down this hill, AprilComes like an idiot, babbling and strewing flowers. Spring â€Å"Spring† is a powerful free verse poem written by Edna St. Vincent Millay, in 1921 . At first glance, this poem does not seem extremely meaningful. However, the time during which it was written, explains the poems true importance because it is after World War. It contains figurative language, specifically describing post war trauma. The tone and mood enforce the element of war to a greater extent. The atmosphere created by the author is vague, but looking deeply into the metaphorical language, allows you to truly understand the casualties. In the poem â€Å"Spring† written by Edna St. Vincent Millay, war is cruel and indescribable. In quatrain three, line three, Millay writes, â€Å"Not only under ground are the brains of men.† This depicts the battlefield. The author explains that as spring arrives, the reality of the war is forgotten. Citizens continue with their lives, forgetting about the casualties. The nice weather comes, but it should have never cover ed up the war. The author is also upset. She is angry regarding the month of April. Millay is trying to ask what the point of Spring is, after the death of so many. The bright flowers, the warm sun and the nice breeze are useless when there is no one to admire them.On another note, the written part of the poem consists of four quatrains and one couplet. Three lines of each quatrain are end-stopped, while the remaining one is enjambed. In the couplet, one line is enjamed and the other is end-stopped. In the first two quatrains, the author is unsatisfied. Millay could be indecisive about the month of April. However, the remainder of the poem identifies that she is frustrated with society. The last two lines of the fourth quatrain explain this theory. She is identifying life as pointless and useless. Millay may not believe in war and is angered by it. The couplet enforces this prediction even more. The tone of the last line indicates her frustration, anger and irritation. The rhythm is irregular with no specific rhyme scene. However, this free verse poem has a pattern similar to Shakespearean poems; the first eight lines are talking about a subject, which builds up to contradict against the rest of the poem. In this case, for the first eight lines, the poet discusses the climate and nature during April, and then contrasts it to war for the rest of the poem. There are some lines in this poem, which are metaphors and have symbolism. For example, the last two lines of the fourth quatrain. The â€Å"empty cup, † symbolizes the future. It explains our future to be nothing. This is also a metaphor because it compares life to an empty cup. Fighting will lead to nothing. This is the hidden message in this line. The atmosphere of the poem always relates back to war. There is a lot of imagery in the poem. For example, line four of the first quatrain. The reader can imagine the tiny leaves opening slowly, as the day goes by. This makes it a form of imagery. In the th ird line of the third quatrain, the author is referring to a place known as ‘No Mans Land. This is the land between two trenches that all soldiers feared, because of death, due to exploding shells. Cacophonic The entire poem is cacophonic. â€Å"The sun is hot /the spikes of the crocus /eaten by maggots ,† are all unpleasant phrases. These expressions helped create the tone, which is war and casualties. This poem is unique in another sense as well. The author is speaking to the season, which is quite preposterous. The last line of this poem is another unique phrase. The author personifies April. He remarks on April as knowing nothing. It just comes and brings some useless flowers, thinking that all will become well; these shall not be accepted because of the war. The poem was an understatement because truly looking at just the text, line eleven was the only sentence, which talked about the victims. Millay has chosen her words extremely carefully when writing this poem. She vaguely describes the true meaning and theme of this literature. What I mean by this is that, without a biography, it would be difficult to infer the true theme of this poem. War is embedded in the specific langu age and the result is a truly unique poem. The precise symbolism has true meaning when deeply investigated. An illusion has been created by the title of â€Å"Spring† giving this poem an even greater twist. â€Å"Spring† by Edna St. Vincent Millay is about war and the results; an inhospitable environment with casualties and no future.

Essay --

J.A. is an 82 year old male of German-American descent. He speaks English and does not know any German. He lives in a single family home with 2 floors, and a basement. He is 5’9†, married, appears well groomed and dressed. J.A. is alert and oriented x 3 and is currently retired. I met with J.A. on Saturday, 2/8/14 at 10:15am and was introduced to him and his spouse by his son. The interview was done at the home of J.A. in an office that he has in his home. J.A. seems very technological savvy with the use of a computer, scanner/printer, e-mail and the internet. Overall, he seems very calm, well mannered, optimistic and has a very good memory. He was able to remember where certain items were placed in the home when his wife asked about it. There were certificates around the home which seems like he received it from volunteering as well as paintings and pictures throughout the house. The interview lasted for 1 hour and 15 minutes. General Assessment J.A. had a steady gait, his speech was clear and audible, skin looked intact, and has short white hair but was slowly becoming bald. J.A. states that he feels that his â€Å"health is not great, but not that bad either.† He states that â€Å"overall he feels his health is fair for his age.† There are some medical problems which he states that does affect him. His knees suffer from arthritis and can’t walk as much as he used to. When he tries to walk, he cannot walk as fast as he used to due to a heart problem. According to J.A., his knees affect him the most when it is cold or when it is really damp/humid. He states that he has slipped and broken a bone in his ankle about 4 months ago which is not helping with his arthritis. His neighbors would help shovel his house when there ... ...ily is a bit more traditional, we do use some Chinese herbal medications and also believe that when we are sick to not eat certain foods or even when someone is pregnant to not eat certain foods. Usually when someone is sick or recovering from a surgery we would tell them not to eat some food and to eat certain foods that would help them recover. There are a lot of other beliefs which my family practices which I do not. However, I would follow it if asked of from my parents. Also, there is a belief that usually men would bring home more money and women would stay home and cook. However, nowadays that is not always the case and I also don’t believe that is the case. My family practices Buddhism on and off which is quite different from Roman Catholic. Prior to having a big meal before a big holiday, we would offer food to the Gods and then partake in that food.

Relationships and Interdependence in the Works of Kurt Vonnegut Essay

Relationships and Interdependence in the Works of Kurt Vonnegut While on the surface Kurt Vonnegut's works appear to singularly contain the pessimistic views of an aging, black humorist, his underlying meanings reveal a much more sympathetic and hopeful glimpse of humanity that lends itself to eventual societal improvement. As part of Vonnegut's strategy for enhanced communal welfare, the satirist details in the course of his works potential artificial family groups to connect the masses and alleviate the lonely. Through his science fiction tales of misinterpreted, downcast protagonists and outrageous observations of real life, Vonnegut shines a light on America's problems, proposing a widespread cooperation of common decency and interdependence as viable solutions. Whether or not such notions actually augment the quality of relations, Vonnegut's well-reasoned and starkly ironic scenarios entertain, challenge, and enliven his design for relational welfare through synthetic families. Throughout his works Vonnegut's development of artificial families and expression of common decency between characters helps illuminate his universal theme of societal interdependence in family groups and proves that life is only worth living when individuals support each other. Throughout his writings, Vonnegut illustrates man's necessity of family, whether hereditary or artificial, as a vital contribution to his survival and healthy intercourse with society. All relatives, be they naturally procured or synthetically acquired, possess the unique ability, and responsibility, to support, contribute t... ...te. Vol. 25. Detroit: Gale, 1973. 451. Vonnegut, Kurt. Bluebeard. New York: Delacorte Press, 1987. Vonnegut, Kurt. Breakfast of Champions. New York: Delacorte Press, 1973. Vonnegut, Kurt. Cat's Cradle. New York: Dell Publishing Co., 1976. Vonnegut, Kurt. Deadeye Dick. New York: Delacorte Press/ Seymour Lawrence, 1982. Vonnegut, Kurt. Galapagos. New York: Dell Publishing Co., 1985. Vonnegut, Kurt. Mother Night. New York: Dell Publishing Co., 1963. Vonnegut, Kurt. Slapstick. New York: Dell Publishing Co., 1976. Vonnegut, Kurt. The Sirens of Titan. New York: Dell Publishing Co., 1959. Vonnegut, Kurt. Timequake. New York: G.P. Putnam's, 1997. Vit, Marek. Kurt Vonnegut Corner: Kurt Vonnegut Essay Collection. http://www.geocities.com/Hollywood/4953/kv_essays.html Relationships and Interdependence in the Works of Kurt Vonnegut Essay Relationships and Interdependence in the Works of Kurt Vonnegut While on the surface Kurt Vonnegut's works appear to singularly contain the pessimistic views of an aging, black humorist, his underlying meanings reveal a much more sympathetic and hopeful glimpse of humanity that lends itself to eventual societal improvement. As part of Vonnegut's strategy for enhanced communal welfare, the satirist details in the course of his works potential artificial family groups to connect the masses and alleviate the lonely. Through his science fiction tales of misinterpreted, downcast protagonists and outrageous observations of real life, Vonnegut shines a light on America's problems, proposing a widespread cooperation of common decency and interdependence as viable solutions. Whether or not such notions actually augment the quality of relations, Vonnegut's well-reasoned and starkly ironic scenarios entertain, challenge, and enliven his design for relational welfare through synthetic families. Throughout his works Vonnegut's development of artificial families and expression of common decency between characters helps illuminate his universal theme of societal interdependence in family groups and proves that life is only worth living when individuals support each other. Throughout his writings, Vonnegut illustrates man's necessity of family, whether hereditary or artificial, as a vital contribution to his survival and healthy intercourse with society. All relatives, be they naturally procured or synthetically acquired, possess the unique ability, and responsibility, to support, contribute t... ...te. Vol. 25. Detroit: Gale, 1973. 451. Vonnegut, Kurt. Bluebeard. New York: Delacorte Press, 1987. Vonnegut, Kurt. Breakfast of Champions. New York: Delacorte Press, 1973. Vonnegut, Kurt. Cat's Cradle. New York: Dell Publishing Co., 1976. Vonnegut, Kurt. Deadeye Dick. New York: Delacorte Press/ Seymour Lawrence, 1982. Vonnegut, Kurt. Galapagos. New York: Dell Publishing Co., 1985. Vonnegut, Kurt. Mother Night. New York: Dell Publishing Co., 1963. Vonnegut, Kurt. Slapstick. New York: Dell Publishing Co., 1976. Vonnegut, Kurt. The Sirens of Titan. New York: Dell Publishing Co., 1959. Vonnegut, Kurt. Timequake. New York: G.P. Putnam's, 1997. Vit, Marek. Kurt Vonnegut Corner: Kurt Vonnegut Essay Collection. http://www.geocities.com/Hollywood/4953/kv_essays.html

The Characters in The Crucible Essay -- Essay on The Crucible

The Characters in The Crucible The Crucible was a story with a wide range of caractors. Not only appearance wise but, with different personalities a together. Many caracteurs in this play thought differently from one and other. That is why this book had a few "twists and turns" to the story. In my profiles, I will display many different caracteurs and theirs' different mentality. First I will start with Mr. John Proctor, a.k.a. "shoulder checker". John Proctor had always things on his mind. People were always on his mind. John Proctor was always looking out for his mistakes or errors, not because he was picky, but his ennemis and competion were. John Proctor was always think out the final result of a situation, like when Betty was "spritually repossed" early in the book (Act I, pages 6-12). John Proctor did not care about as Betty as much as the final opinion that the town would have on Proctor's "white and pure" name. Much can be said about Proctor's giving and understanding, but I don't want to waste that line. Proctor's carring and willing to give people thinks was not his best feature. Proctor was always thing about him, himself and no one else, except the final outcome of the whole situation. Take for exaple the fellow that wanted to get some tree off Proctor's land. Even though Proctor had probably no knowlage of the trees on his land, he still wanted a peice of the pie. Proctor wanted always money. He was money hungry and cheap. Basicly Proctor was a would be if he could be. Proctor was always trying to fit into the high class crowd, flash his powere and money on the middle class or poorer people, but when Proctor was around people like Hale (Hale was a well educated and he stood up for things kind of guy) Proctor would try to act up to his class but he couldn't really beacause inside he really knew he couldn't. Then the one life ending, marriage destroying fault that Proctor would ever do was he sleept with Abigail. That action right there would kill Proctor not physically (yet) but mentally threw the novel it honted him and later .. his wife. The perfect exemple was when John Proctor's wife, Elizabeth and Mr. Proctor were approched by Hale. John Proctor was asked if he could name the seven commandents (Act ][, page #65). John Proctor (with Elizabeth by his side) was able to name them all e... ...ed physically now or spriatually later. But Hale was never scared of these threest. Hale was always always under the influence of God. The reason or event would be because of God. Still, Hale was a friend to many people like Proctor. When the summons come for Proctor (at the end of Act ]I[), Proctor would yell to the officers tht they should depart from his house. Hale tried to clam down Mr. Proctor but once a snowball start to roll, it is hard to freeze it in it's tracks. But again it's like thoses efforts that made Hale who he is. I fell that all theses caractuers made a big difference in this book (as I described above). My reason apon picking them varies from the protagonist (Proctor) to anognist (Abigail) to the man I felt kept the ball moving with his knowladge (Hale). I enjoyed reading this book because of the turning of events, the plot that led up to the climax. The finish was touching. For a guy to say it was touching, it was a good ending. I think the best title or subtitle for this book came from an album from a group called Colletive Soul. Their title from the album and the perfect title for this book: Hints, Lies and Alligations

Harvard case essay

Treasury bonds with the same maturity. The deference between selling TIPS and buying T-bonds will cover the Inflation risk losses thus effectively eliminates Inflation risk In the portfolio. The Harvard's Policy Portfolio Includes much of the university endowment, pension assets, working capital, and portfolio contains 1 1 wide asset classes, Including domestic equity, foreign equity, private equity, domestic bonds, foreign bonds, emerging markets, real estate, commodities, absolute return, high yield, and cash.This portfolio was determined by the board of the corporation for the long-run allocation, however, the manager can make short-run adjustment within the limits from the guideline. The reason that HAMS focus on real returns is HAMS want to exclude the influence of inflation and determine the return rate more precisely. As the formula nominal return = real return + inflation rate shows, choosing real return instead of nominal return can reveal the real purchasing power of the in vestment, thus help the manager to conduct more efficiently to prevent the evasion of the investment.As we can see from Exhibit land Exhibit 2, domestic and foreign equity constitute the biggest part of the portfolio, and these two asset classes have high real returns as well as latterly larger standard deviations. And we know that equity premium indicates the difference between the expected return on the market portfolio of common stocks and the risk-free interest rate, and higher risk often indicates higher equity premium.Based on Ham's assumption that the real growth rate of annual spending is 3% after inflation, and that gifts to the endowment are same as the historical average rate (1%), HIM has to maintain a real between 6% and 7% of the total investment In order achieve its preservation goal. Thus HIM has to invest a large portion in US and reign equity with higher premium, resulting in a short of cash. Yes, From inception in 1 997, TIPS had offered a real yield that ranged f rom. 2% to 4. 25%.

Jonathan Edwards

In Jonathan Edwards’ personal narrative, he uses language to convey a remorseful attitude towards his own spiritual condition. The imagery of hell as seen by Edwards creates a punishment in â€Å"the lowest place in hell. † He feels like he is the â€Å"very worst of all mankind. † In the simile, â€Å"as bad as the devil himself,† his followers make him feel as though his â€Å"wickedness† and â€Å"vileness† are greater. This portrays his remorseful attitude.By utilizing the simile, â€Å"like an infinite deluge or mountains over my head,† Edwards depicts the severity of his wrongdoing as being of such magnitude that it is â€Å"swallowing up all thought and imagination. † The use of repetition in â€Å"Infinite upon infinite— Infinite upon infinite! † supports Edwards’ view of his wickedness as â€Å"an abyss infinitely deeper than hell. † This expresses his internal pain and anguish. Edwards proce eds to use the phrase, â€Å"nauseous and detestable to me,† to describe his sense of self-loathing.He feels as if he does not morally deserve to be â€Å"exalted and raised up to the infinite height of all the fullness and glory of the great Jehovah. † Throughout the narrative, Edwards is vividly describing his belief that if it were not for the â€Å"sovereign grace† of his Lord, that the earth would simply not bear him or all humanity for a single moment because as far as he is concerned, we are all corrupt individuals- creatures even, that spend our lives in the service of God’s enemies. It is through all the aforementioned that he illustrates his remorseful sentiment in his personal narrative.