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U.S. Housing Bubble Burst in 2008

Introduction

In December 2007, the world witnessed a great recession in the United States of America. According to the universal consensus, the credit crisis ensuing from the housing bubble burst was the major factor behind the origin of the said recession. Economists agree that there were a number of causes that led to the 2008 housing bubble burst in the United States of America. The combination of all the factors resulted in the complexity and extremity of the situation and made the consequential credit crisis more severe (Belsky 9).

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The volume production of inexpensive steel products realized by the processes alongside those of Bessemer’s has recast the world. Cost effective steel products has allowed manufacturers to design and develop a host of large and small products using steel as a base material. Inclusive of these products are ships, aircraft, buildings, forks, spoons, witches, razors, saws, and tools and utensils of every type (Spoerl 1).
The systematized and inexpensive production of steel became feasible only after the development of the Bessemer method, named after its ingenious inventor, British metallurgist Sir Henry Bessemer. Bessemer posited that the presence Continue reading...

During my trip to the Museum of Fine Arts, I viewed many pieces, but the one I chose to write about was the Letting Go, by Sarah Sze. A mixed media piece that was installed on site, it did not say anything to me immediately, allowing its ideological context to be explored more fully than other pieces. The piece stood in a large, open room with many other pieces like it. By that I mean all of the pieces were mixed media, likely installed on site, and open to interpretation. People with befuddled looks shuffled past me and I Continue reading...

Technology alters the experiences of people in many ways. The development of computers advances rapidly with great speed. The surplus of advancement in technology started the development of abacus that offered an easy way to solve mathematical problems. When internet started during the 90s, it was a simple device for academics and researchers as a commercial use. The evolution of World Wide Web happened at an exponential rate. The development and advancement of the dotcom transformed the business world as a way of communication and providing massive opportunities for sales and marketing departments. Unfortunately, there was mismanagement of the Continue reading...

The world is flat by Thomas Friedman is a narrative on the accounts that are believed to explain the globalization history. It explains the accounts that took place, at the start of globalization in three eras. According to Friedman, the eras were classified into three, era one, two and three, with each era being characterized by individuals and countries globalizing each other, and the same acting as connectors, collaborators with countries acting as the main agents of collaboration. It also included some international bodies such as UN, which also participated in the globalization process due to quest for power Continue reading...

The representation and use of light in paintings serves a litany of purposes. Caravaggio’s Calling of St. Matthew is one of the most famous paintings that deploys light and color in order to convey meaning through style and religious imagery. Caravaggio uses extreme contrasts between darkness and light. The formal arrangement of the work underscores the lighting arrangement in conjunction with the windows and hands in order to render the tenebrism, or the dramatic illumination using chiaroscuro possible. The hand of Christ has a burst of color emanating from it that shoots out from his sleeve. This scheme Continue reading...