Originally posted on AC's Sharing Spree:

Today I want to make you to think about something you probably take for granted. Today I would like to impose on you the question, “Is a TV a necessity or want?” Firstly I feel I should define the terms the necessity and want. According to the Oxford dictionary the word necessity means a basic requirement of life and a thing that is essential. A want is everything apart from necessities, something you would like but don’t need.

Television: Necessity or Want

I believe that a TV is definitely a necessity. My title for this post is seven reasons why your TV is a necessity and the seven reasons that I’ve compiled are:

  • A  TV is one of the most important means of audio-visual communication.
  • It reaches far & wide hence is almost an irreplaceable mode of conveying important information across the world.
  • Formal literacy is not required to watch, learn & enjoy from…

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Faulty Cash Machine

Faulty Cash Machine

A RBS (Royal Bank of Scotland) cash machine in Rutherglen, Scotland was crowded with people. The cash machine was giving out extra cash, and found itself with a long queue. The police were notified today (17/11/12) lunchtime.

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Quote of the Day

Your most unhappy customers are your greatest source of learning-Bill Gates

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1>9

Okay, I know the title doesn’t make sense, but I’ll put it into context. 1>9 means that 1 is more than 9, although we all know this isn’t factually true, what I am telling you is that small aid projects are much more effective than large aid projects. There are many economic problems in the world, and I think that multiple small investments into a solution are much more effective than a large scale investment into a solution. This is because small scale actions are much more sustainable than large scale actions. The same principles are applied to aid projects (e.g. charities). Although it may seem that our small actions don’t go far in making change, cumulative small actions can travel very far.

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Effects of Bankruptcy (Long Term)

Effects of Bankruptcy (Long Term)

Believe it or not mass bankruptcy leads to radical politics.
I think that Greece will end up with extremely radical politics or go to war if the situation isn’t very well handled.
In the past, after the famous Wall Street Crash, Japan ended up invading China and going into radical politics because of its poor economic situation.

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Youth Unemployment (YU)

Youths are those aged between 15 and 24 and there are currently over 1 billion youths in the world. 85% of youths can be found in LEDC’s (Less Economically Developed Countries) and developing countries. The global population is rising and so is youth unemployment.  Currently there are said to be over 75 million unemployed youths. Africa is the continent with the highest youth unemployment. Did you know that youths are 3 times less likely to be employed than those older than them. Youth unemployment is a serious problem and more youth unemployment is likely to result in more crime and radical politics.

Youth Unemployment has been a concern of the UN (United Nations) for a long time and major organisations such as YEN (Youth Employment Network) have been set up to sort out Youth Unemployment (YU). YU is being tackled, by YEN, by prioritising youth employment in political and social schemes.

I strongly believe that all governments should try to build free educational facilities (schools) for everyone and train more teachers. Free schools make education accessible to everyone, and teachers are needed at schools. Also better trained teachers means the students receive a better education. I believe that education is the key to a better society (without YU) and although it may be very expensive to build and set up free schools during bad economic times, it is a great investment for a more sustainable future. 

In lots of countries youths are leaving school early, and statistics have proven that those that leave school early are much less likely to get a job. I would like to see it being made a law, and being made compulsory that students study till at least 16. This way they have a better base. I would also like to see more apprenticeships being made available to youths and suggest that recruitment days are set up for older pupils in schools. What I mean by a recruitment day is where employers from local trades and businesses go into schools and look for potential employees.

A rapidly growing population in places such as India, is hindering the YU rate going down. I urge that governments try to slow down population growth rates. One simple way to do this would be to teach young adults more about contraception. If there are fewer people to be employed there is going to be unemployment.

What I’ve said so far is on a rather pessimistic note, however I do believe that there is a strong potential for developing countries to harness the power of their young population in order to grow a strong economy.

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Empires effect on the economy

Have you ever realised that there is a strong correlation between LEDC’s and colonised countries. Powerful MEDC’s are generally those countries that have had strong empires in the 19th and 20th centuries. For example Britain and France. The poorer countries (LEDC’s) are those that have been part of empires and colonised by countries such as Britain. For example Zambia was colonised by the British and its people are currently very poor, even though the county has a lot of mineral wealth. Some conquerors e.g. Britain have been kinder to their colonies by giving back things such as better healthcare as well as taking stuff away. Other conquerors e.g. Belgium haven’t been considerate to their colonies and robbed their colonies of all their wealth. But in the long term it doesn’t seem to have mattered how colonies were treated since most colonies are current day LEDC’s. You may also be under he impression that once colonised countries can still become wealthy if their country has mineral wealth, but I tell you this is generally not the case. Mineral wealth when exploited doesn’t directly and instantly boost a countries GDP, what it does is significantly increase the GDP growth rate. For example Zambia which was colonised by Britain has a lot of mineral wealth and has a high GDP growth rate, it’s growth rate is much higher than other MEDC’s, but this doesn’t make the country rich because its adding on a small GDP, whereas MEDC’s, even with a small growth rate are building on a large GDP so there overall growth is larger. (For example 10% on a GDP of 10 is 11, whereas 2% on a GDP 100 is 102. Even though the LEDC has had a higher growth rate than the MEDC it has made a smaller growth.)

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China’s annual growth rate falters

As economic problems in Europe and USA arise there is less demand for products from China, therefore economic issues in USA and Europe reduce exports for China. The Chinese economy thrives on its exports, and as these have reduced so has its annual growth rate. The growth rate has fallen for seven consecutive quarters, most recently from 7.6% to 7.4%. This may all seem bad news, however the drop in the growth rate was expected to be larger.

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Good news

UK and US unemployment rates have fallen to a record low in October 2012 since January 2010. :-$
Are we back onto an economic recovery? I don’t think so, what about you? I think that there are still too many debts owed by USA and European nations for the economy of MEDC’s to be on a full scale rise again.

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Apple Stock Prices Drop

Apple Stock Prices Drop

Apple currently have shortages in iPhone 5 supplies as the company Foxconn, who make assemble the phone are having problems with what they call the most complex mobile they’ve ever assembled. Apple had aimed to hit 50 million sales of the iPhone 5 by the end of the December quarter, however this doesn’t seem likely anymore.

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