http://www.canada.com/Technology/Facebook+users+names+profile+addresses/1685792/story.html
Summary
The popular online networking website, Facebook, will start allowing users to use their full name as part of the online addresses for their profile pages. Every member will be given a personalized URL that will be in the format facebook.com/ followed by the user’s name. This new method allows for friends to easily find each other. According to Facebook designer Blaise DiPersia, “Your new Facebook URL is like your personal destination, or home, on the web.” Having user names as part of the URLs will make it easier while browsing friends’ pages as well as online search engines such as Google. Facebook’s competitor MySpace has been using personalized user names for close to five years now.
Connection
Facebook is a very popular website that connects friends from all over the world. Since the beginning, when it had just started in 2004, Facebook’s competitor was MySpace. Chapter 10 teaches us the different types of competition that exists , which include: perfect competition, monopoly, oligopoly, and many differentiated sellers. The last category, many differentiated sellers is the circumstance which Facebook and MySpace is competing in, which means that there are a large number of competitors, but each product is unique and there are differences that make it possible to distinguish one product to the next. Facebook and MySpace are very similar in terms of the purpose of the website: an online social network. But their features and what they have to offer are different and that’s what attracts their users. Since MySpace has been using personalized URLs for quite some time now, Facebook has decided that it’s time that they jump in and allow users to have that choice. By doing so, they’re hoping to attract new users to their already growing community of 200 million users worldwide.
Reflection
Just like any other typical teenager, I have already been attracted to this popular online social network. During February of this year, Facebook was ranked as the largest social networking site. I would understand why. Facebook allows childhood friends to reconnect even after they’ve been separated for twenty some odd years. While travelling and meeting new friends, Facebook will easily minimize the distance between the two friends. What I love about Facebook is that there’s a security feature that allows the user to set their privacy level. Whether they would like to only have their friends be able to see what’re they’re up to or allowing the whole world in on the details. This will keep away all unwanted predators, so users will not be unsafe while using this online social network. MySpace on the other hand, does not have this feature, and anyone will be able to access a user’s page. This could be one of the reasons why Facebook has surpassed MySpace as the largest social networking website.
Saturday, June 13, 2009
Tuesday, June 9, 2009
Chapter 8: Fall in Jobless Claims Not Strong Enough
http://network.nationalpost.com/np/blogs/tradingdesk/archive/2009/06/04/fall-in-jobless-claims-not-strong-enough.aspx
Summary
Initial jobless claims have dropped in the United States by 4,000 resulting 621,000 reported for the last week of May. The overall unemployment numbers dropped 15,000 to 6.74 million, which is the first time the numbers looked favourable since the start of the year. This circumstance suggests that our economy is improving. According to economist Robert Gordon, “the four-quarter average of jobless claims is a very consistent predictor of economic recovery in past recessions”. These jobless claims provide insight as to whether or not the economy is going to improve or worsen. The jobless claims started to rise when the US economy stalled in 2007. During the middle of that year, the claims were roughly 325,000 workers, but now the numbers have doubled.
Connection
Employment or rather unemployment in this article relates to the unemployment and inflation trade-off as well as the automatic stabilizers, one of which includes employment insurance. When it comes to unemployment, it cannot be simultaneously related with inflation. When unemployment becomes a problem, the government will attempt to increase the level of spending. This increase in spending appears to be good since it will result in a higher demand for workers while lowering the level of unemployment, but at the same time, it increases prices that in return increase inflation. If attempts were made to decrease the rate of inflation, cutting back on spending must be achieved first. This, unfortunately, will result in more unemployment. When graphing the inverse relationship between unemployment and inflation, we can determine that we stand at the high unemployment rate and low inflation area. Since the economy is not doing well, it’s obvious that unemployment numbers are up. In attempt to stimulate more spending, the inflation rate is low as well. Automatic Stabilizers are government programs that are run to react automatically to help adjust the level of aggregate demand when economic conditions change. When workers are out of job, like in the article, the income becomes 0, which results in less spending. Employment insurance exists so that the unemployed citizens can still have some income and be able to spend. This will limit the negative results of unemployment on the economy.
Reflection
When given the figures from the article on unemployment, I cant help but think that this will be bad for our economy. But then I realize that these higher unemployment numbers are actually positive for citizens, because it would means less inflation. This is very good for the average consumer who is still employed. Since they are still getting the same income and prices aren’t increasing rapidly, they will not have to be worried, even in times of recession, like now. Despite the high unemployment numbers, I am not worried because there are automatic stabilizers. With the governments help, the unemployed citizens will be able to receive employment insurance that will help them pass by these tough times.
Summary
Initial jobless claims have dropped in the United States by 4,000 resulting 621,000 reported for the last week of May. The overall unemployment numbers dropped 15,000 to 6.74 million, which is the first time the numbers looked favourable since the start of the year. This circumstance suggests that our economy is improving. According to economist Robert Gordon, “the four-quarter average of jobless claims is a very consistent predictor of economic recovery in past recessions”. These jobless claims provide insight as to whether or not the economy is going to improve or worsen. The jobless claims started to rise when the US economy stalled in 2007. During the middle of that year, the claims were roughly 325,000 workers, but now the numbers have doubled.
Connection
Employment or rather unemployment in this article relates to the unemployment and inflation trade-off as well as the automatic stabilizers, one of which includes employment insurance. When it comes to unemployment, it cannot be simultaneously related with inflation. When unemployment becomes a problem, the government will attempt to increase the level of spending. This increase in spending appears to be good since it will result in a higher demand for workers while lowering the level of unemployment, but at the same time, it increases prices that in return increase inflation. If attempts were made to decrease the rate of inflation, cutting back on spending must be achieved first. This, unfortunately, will result in more unemployment. When graphing the inverse relationship between unemployment and inflation, we can determine that we stand at the high unemployment rate and low inflation area. Since the economy is not doing well, it’s obvious that unemployment numbers are up. In attempt to stimulate more spending, the inflation rate is low as well. Automatic Stabilizers are government programs that are run to react automatically to help adjust the level of aggregate demand when economic conditions change. When workers are out of job, like in the article, the income becomes 0, which results in less spending. Employment insurance exists so that the unemployed citizens can still have some income and be able to spend. This will limit the negative results of unemployment on the economy.
Reflection
When given the figures from the article on unemployment, I cant help but think that this will be bad for our economy. But then I realize that these higher unemployment numbers are actually positive for citizens, because it would means less inflation. This is very good for the average consumer who is still employed. Since they are still getting the same income and prices aren’t increasing rapidly, they will not have to be worried, even in times of recession, like now. Despite the high unemployment numbers, I am not worried because there are automatic stabilizers. With the governments help, the unemployed citizens will be able to receive employment insurance that will help them pass by these tough times.
Chapter 7: Canadians cutting their renovation spending
http://www.canada.com/business/fp/Canadians+cutting+their+renovation+spending/1667362/story.html
Summary
Researchers at Altus Group reported that it is expected that renovation spending will decline 5% this year. “Even with a new tax credit, Canadians have cut their renovation spending after 10 years of steady growth” The federal government has introduced a tax credit of up $1,350 on $10,000 spent in renovation that was completed before February of 2010. According to the Altus Group, most of the renovations would have occurred even without the tax credit. Last year the renovation spending was $21.3 billion which was $1.6 billion higher, compared to the year before. The housing sector, which is hugely dependent on the renovation industry, had a value of $53 billion last year. Altus Group says that it’s not all pessimistic. With reasons such as the aging houses with There hope in the sector after all!
Connection
The topic that Chapter 7 covers is “Money and the Canadian Banking System” and when citizens are given a tax credit, it acts as money for them. First off Canadians would spend money on renovation, then they would get a tax credit off their income tax. Even though they're not actually getting actually money back in return, they are getting some type of currency. Having this tax credit, reduces the amount of income tax that they would have to pay. This is extremely good if the family is making a lot of income.
Reflection
Knowing that the government offers a tax credit for citizens when they spend on renovation, I would strongly suggest to my parents to fix up the house! This move that the government has decided on will act as an incentive for families just like my own. Although my parents have been thinking of getting some work done on the house, they've just been too lazy to getting around to it. But now that they're aware of the tax credit, and the deadline of February 2010, that should be able to motivate them.
Summary
Researchers at Altus Group reported that it is expected that renovation spending will decline 5% this year. “Even with a new tax credit, Canadians have cut their renovation spending after 10 years of steady growth” The federal government has introduced a tax credit of up $1,350 on $10,000 spent in renovation that was completed before February of 2010. According to the Altus Group, most of the renovations would have occurred even without the tax credit. Last year the renovation spending was $21.3 billion which was $1.6 billion higher, compared to the year before. The housing sector, which is hugely dependent on the renovation industry, had a value of $53 billion last year. Altus Group says that it’s not all pessimistic. With reasons such as the aging houses with There hope in the sector after all!
Connection
The topic that Chapter 7 covers is “Money and the Canadian Banking System” and when citizens are given a tax credit, it acts as money for them. First off Canadians would spend money on renovation, then they would get a tax credit off their income tax. Even though they're not actually getting actually money back in return, they are getting some type of currency. Having this tax credit, reduces the amount of income tax that they would have to pay. This is extremely good if the family is making a lot of income.
Reflection
Knowing that the government offers a tax credit for citizens when they spend on renovation, I would strongly suggest to my parents to fix up the house! This move that the government has decided on will act as an incentive for families just like my own. Although my parents have been thinking of getting some work done on the house, they've just been too lazy to getting around to it. But now that they're aware of the tax credit, and the deadline of February 2010, that should be able to motivate them.
Monday, March 9, 2009
Chapter 6: BC, Canadian housing starts tumbling in February
http://www.vancouversun.com/Business/Canadian+housing+starts+tumble+February/1369898/story.html
Summary
The Canadian real estate market is weakening alongside the economic downturn and the high unemployment. In our province of BC, real estates have been down 75% compared to just one year ago. According to Canada Mortgage and Housing Corporation, in January there were 153,500 housing starts whereas in February there were only 134,600 units, which is a decrease of 12.8%. There are a lot of economists that expected the housing starts in February to be 145,000, but that was not the case. “Increase listings and reduced sales in the existing home market continue to impact the new home market,” CMHC chief economist Bob Dugan comments. Constructions in urban areas fell 14.9% from January to February, while the numbers remained constant in rural areas. Dugan says, “Home construction is slowing to more sustainable levels”.
Connection
As we learned in Chapter 6, the paradox of thrift exists when people attempt to save but they end up saving less. We can relate this article to that theory. Even though people are trying their best to save right now due to the economic downturn we’re experiencing, it may not be the best way of reacting to this situation. Right now it may sound good to spend less and save up so the individuals would be better off in the future. But thinking with an economic mind, it is a very bad decision to hold onto your money. To improve our economy that isn’t doing too well, it is beneficial to have cash flowing through the economy. Spending money though it is good for the economy, individuals do not like the idea. I guess this is because they like to know they have money saved up which can be put into use when the time comes.
Reflection
Due to the economic downturn, it makes sense for individuals to hold back on purchasing houses. This recession has a lot of citizens worrying about whether or not they can survive these hard times. But everyone is aware of the 2010 Winter Olympics will be taking place all throughout the Lower Mainland. I read an article somewhere about the estimated cost for living a night in the Lower Mainland during the Olympics. Prices ranged from $300 - $500 / room for one night in Vancouver. As for whistler, hotel rooms could cost up to $900 a night. Once tenants are aware of this situation which will be happening as soon as next year, I believe housing sales will start rising again. Even if a citizen were to try to save money right now by only renting instead of owning a house, they are only saving a small amount of money. When it comes to winter 2010, the cost of renting would increase dramatically. So by attempting to save right now, the citizens are actually not saving. This situation would be an example of paradox of thrift.
Summary
The Canadian real estate market is weakening alongside the economic downturn and the high unemployment. In our province of BC, real estates have been down 75% compared to just one year ago. According to Canada Mortgage and Housing Corporation, in January there were 153,500 housing starts whereas in February there were only 134,600 units, which is a decrease of 12.8%. There are a lot of economists that expected the housing starts in February to be 145,000, but that was not the case. “Increase listings and reduced sales in the existing home market continue to impact the new home market,” CMHC chief economist Bob Dugan comments. Constructions in urban areas fell 14.9% from January to February, while the numbers remained constant in rural areas. Dugan says, “Home construction is slowing to more sustainable levels”.
Connection
As we learned in Chapter 6, the paradox of thrift exists when people attempt to save but they end up saving less. We can relate this article to that theory. Even though people are trying their best to save right now due to the economic downturn we’re experiencing, it may not be the best way of reacting to this situation. Right now it may sound good to spend less and save up so the individuals would be better off in the future. But thinking with an economic mind, it is a very bad decision to hold onto your money. To improve our economy that isn’t doing too well, it is beneficial to have cash flowing through the economy. Spending money though it is good for the economy, individuals do not like the idea. I guess this is because they like to know they have money saved up which can be put into use when the time comes.
Reflection
Due to the economic downturn, it makes sense for individuals to hold back on purchasing houses. This recession has a lot of citizens worrying about whether or not they can survive these hard times. But everyone is aware of the 2010 Winter Olympics will be taking place all throughout the Lower Mainland. I read an article somewhere about the estimated cost for living a night in the Lower Mainland during the Olympics. Prices ranged from $300 - $500 / room for one night in Vancouver. As for whistler, hotel rooms could cost up to $900 a night. Once tenants are aware of this situation which will be happening as soon as next year, I believe housing sales will start rising again. Even if a citizen were to try to save money right now by only renting instead of owning a house, they are only saving a small amount of money. When it comes to winter 2010, the cost of renting would increase dramatically. So by attempting to save right now, the citizens are actually not saving. This situation would be an example of paradox of thrift.
Monday, February 23, 2009
Chapter 5: We’re No. 1: BC records biggest increase in year-over-year EI recipients
http://www.vancouversun.com/records+biggest+increase+year+over+year+recipients/1324021/story.html
Summary
According to a Statistics Canada survey that came out on Tuesday, BC has the country’s greatest increase in recipients receiving Employment Insurance (EI) in December. All provinces rose in the amount of regular EI recipients during the month of December. With the highest increase, BC was at 33.2%, with Alberta at 30.3% and Ontario at 29.6%. The actual number of increase of Canadians receiving EI was 79,100 between December of 2007 and 2008, which is a 16.6% increase. Breaking it down to gender, the percentage of men receiving EI had an increase of 21.7% and for women it was an increase of 8.6%. Since the start of the economic crisis at the end of 2008, the numbers are steadily rising. In January, 35,000 jobs were lost, which puts British Columbia’s unemployment rate at 6.1%.
Connection
As learned in chapter 5, the three ways of analyzing a country's economy are: unemployment, inflation, and the level of business activity. Obviously this article relates to the 1st factor which is unemployment. Seeing how high the unemployment rate in Canada is, it just confirms how our country isn't doing too well. Even though it may not seem like it, but citizens that are unemployed actually have an affect on those who are employed. When workers lose their job, they also lose their ability to pay taxes. When a lot of jobless people aren't able to pay taxes, the burden is added onto those who are able to pay. With the added taxes that covers the people who can not pay, the working people also has to pay additional tax that will support those the unemployed until they find a job.
Reflection
After reading this article, I started thinking. There are so many factors that can lead to unemployment, yet we’re in the middle of an economic crisis. Could the rise in numbers on EI recipients totally be blamed on that factor? I understand that with the global turndown, of course our country would be affected. Hundreds of thousands of jobs in every economic sector have been lost mainly due to this problem. Especially at this time, I would definitely not like to be in the position of someone without a job. I've heard stories from my relatives. The companies that they work for are all thinking of or if they haven't already done so to cut back on employees. This news of possible lay-off has gotten all the employees worried and concerned. I am very fortunate to be working at a company where they have not initiated any desire to laying off workers.
Summary
According to a Statistics Canada survey that came out on Tuesday, BC has the country’s greatest increase in recipients receiving Employment Insurance (EI) in December. All provinces rose in the amount of regular EI recipients during the month of December. With the highest increase, BC was at 33.2%, with Alberta at 30.3% and Ontario at 29.6%. The actual number of increase of Canadians receiving EI was 79,100 between December of 2007 and 2008, which is a 16.6% increase. Breaking it down to gender, the percentage of men receiving EI had an increase of 21.7% and for women it was an increase of 8.6%. Since the start of the economic crisis at the end of 2008, the numbers are steadily rising. In January, 35,000 jobs were lost, which puts British Columbia’s unemployment rate at 6.1%.
Connection
As learned in chapter 5, the three ways of analyzing a country's economy are: unemployment, inflation, and the level of business activity. Obviously this article relates to the 1st factor which is unemployment. Seeing how high the unemployment rate in Canada is, it just confirms how our country isn't doing too well. Even though it may not seem like it, but citizens that are unemployed actually have an affect on those who are employed. When workers lose their job, they also lose their ability to pay taxes. When a lot of jobless people aren't able to pay taxes, the burden is added onto those who are able to pay. With the added taxes that covers the people who can not pay, the working people also has to pay additional tax that will support those the unemployed until they find a job.
Reflection
After reading this article, I started thinking. There are so many factors that can lead to unemployment, yet we’re in the middle of an economic crisis. Could the rise in numbers on EI recipients totally be blamed on that factor? I understand that with the global turndown, of course our country would be affected. Hundreds of thousands of jobs in every economic sector have been lost mainly due to this problem. Especially at this time, I would definitely not like to be in the position of someone without a job. I've heard stories from my relatives. The companies that they work for are all thinking of or if they haven't already done so to cut back on employees. This news of possible lay-off has gotten all the employees worried and concerned. I am very fortunate to be working at a company where they have not initiated any desire to laying off workers.
Monday, February 2, 2009
Chapter 4: OMERS posts $8-billion loss for 2008
http://www.theprovince.com/business/fp/OMERS+posts+billion+loss+2008/1320127/story.html
Summary
OMERS Administration Corporation (Ontario Municipal Employees Retirement System), which is one of Canada’s biggest pension funds, has reported that in 2008, more than $8-billion was loss due to the global economic crisis. Comparing this year’s $8-billion net investment loss to last year’s profit of $3.9-billion, there is a significant difference. The pension fund has more than $52-billion and has an effect on around 390,000 Ontario municipal employees, such as police, firefighters, and transit workers. In 2008, the pension fund had a negative 15.3% rate of return whereas in 2007, its return rate was 8.7%.
Connection
This article relates to the sources of government revenue in which we learned in chapter 4. A lot of the government’s spending comes from taxes imposed on the citizens. As for OMERS, 70% comes from investments and the remaining 30% is directly from employee and employer contributions. But because of the global economic turndown, the 70% funding from investments have decreased drastically. This will have a direct effect on the budgeting of these pension plans. Even though OMERS does not tie in with the government’s spending, it is a group that supports employees that work/worked government jobs. OMERS is beneficial to municipal workers and their net loss in their investments affect them directly.
Reflection
Ontario Municipal Employees Retirement System (OMERS) may not have any effect on me. In a sense, it does relate to me. As an employee of the Vancouver Public Library, if there was an OMERS for our city, I would not be very happy with what’s going on currently for OMERS. Since employees have CPP deducted from their income, it only sounds fair if they receive what they anticipated. But I understand that not everything in life is going to work the way it was set out to. The economy going bad was definitely not something that anyone could have controlled. Its just sad to hear that the pension fund had decrease over 10% compared to last year. Especially since inflation is going up, with the pension fund decreasing, it would be very hard for the senior citizens to buy what little they can.
Summary
OMERS Administration Corporation (Ontario Municipal Employees Retirement System), which is one of Canada’s biggest pension funds, has reported that in 2008, more than $8-billion was loss due to the global economic crisis. Comparing this year’s $8-billion net investment loss to last year’s profit of $3.9-billion, there is a significant difference. The pension fund has more than $52-billion and has an effect on around 390,000 Ontario municipal employees, such as police, firefighters, and transit workers. In 2008, the pension fund had a negative 15.3% rate of return whereas in 2007, its return rate was 8.7%.
Connection
This article relates to the sources of government revenue in which we learned in chapter 4. A lot of the government’s spending comes from taxes imposed on the citizens. As for OMERS, 70% comes from investments and the remaining 30% is directly from employee and employer contributions. But because of the global economic turndown, the 70% funding from investments have decreased drastically. This will have a direct effect on the budgeting of these pension plans. Even though OMERS does not tie in with the government’s spending, it is a group that supports employees that work/worked government jobs. OMERS is beneficial to municipal workers and their net loss in their investments affect them directly.
Reflection
Ontario Municipal Employees Retirement System (OMERS) may not have any effect on me. In a sense, it does relate to me. As an employee of the Vancouver Public Library, if there was an OMERS for our city, I would not be very happy with what’s going on currently for OMERS. Since employees have CPP deducted from their income, it only sounds fair if they receive what they anticipated. But I understand that not everything in life is going to work the way it was set out to. The economy going bad was definitely not something that anyone could have controlled. Its just sad to hear that the pension fund had decrease over 10% compared to last year. Especially since inflation is going up, with the pension fund decreasing, it would be very hard for the senior citizens to buy what little they can.
Tuesday, November 18, 2008
Chapter Three: Private Health Care
http://www.canada.com/story.html?id=863404
Summary
This article clearly lets the reader know the huge difference between the public and private health care systems. Private clinics charge $3,900 the first year and $2,900 every year onwards. Visibly, bystanders were able to distinguish a major distinction between the two different types of office. In a private office such as Copeman’s Healthcare Centre, there were “sleek furniture, oil paintings, and seasonal fruit”, whereas in a normal public clinic, the waiting rooms were overfilled with severely sick patients.
Connection
Having private health clinics may sound like something that citizens can gain from, but this strongly depends on the patient’s income level. The government plays a big role in controlling this factor, trying their best to achieve a balance. Currently Canada has a public health care system where everyone is equal. Whether a person is rich or poor, their access to health care is the same. The severity of the patient’s sickness determines how the medical professionals will treat them. Each and every patient pays the same fee for the same check-up or the same treatment. On the other hand, in a private health care system like US, the citizens with more cash are eligible for more service and better service.
Reflection
This huge discrepancy between the public and private health care systems only adds to the gap between the rich and the poor. I like the way Canada’s health care system is operating at the moment. Having a public health care system like ours will ensure that every patient will get their needs met in order of priority. Doctors and nurses will treat everyone the same whether they’re rich or poor. This equality towards everyone will give the citizens more confidence in their government. The government setting regulations on the health care system, to ensure that all the needs of the citizens are met, lets everyone know that the government is looking out for them. This is why I am in favour of the public health care system that our nation has.
Summary
This article clearly lets the reader know the huge difference between the public and private health care systems. Private clinics charge $3,900 the first year and $2,900 every year onwards. Visibly, bystanders were able to distinguish a major distinction between the two different types of office. In a private office such as Copeman’s Healthcare Centre, there were “sleek furniture, oil paintings, and seasonal fruit”, whereas in a normal public clinic, the waiting rooms were overfilled with severely sick patients.
Connection
Having private health clinics may sound like something that citizens can gain from, but this strongly depends on the patient’s income level. The government plays a big role in controlling this factor, trying their best to achieve a balance. Currently Canada has a public health care system where everyone is equal. Whether a person is rich or poor, their access to health care is the same. The severity of the patient’s sickness determines how the medical professionals will treat them. Each and every patient pays the same fee for the same check-up or the same treatment. On the other hand, in a private health care system like US, the citizens with more cash are eligible for more service and better service.
Reflection
This huge discrepancy between the public and private health care systems only adds to the gap between the rich and the poor. I like the way Canada’s health care system is operating at the moment. Having a public health care system like ours will ensure that every patient will get their needs met in order of priority. Doctors and nurses will treat everyone the same whether they’re rich or poor. This equality towards everyone will give the citizens more confidence in their government. The government setting regulations on the health care system, to ensure that all the needs of the citizens are met, lets everyone know that the government is looking out for them. This is why I am in favour of the public health care system that our nation has.
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