scholarly journals The Three Phases of Global Liquidity

2014 ◽  
pp. 7-44
Author(s):  
Iwan J. Azis ◽  
Hyun Song Shin
2012 ◽  
pp. 61-83 ◽  
Author(s):  
M. Ershov

According to the latest forecasts, it will take 10 years for the world economy to get back to “decent shape”. Some more critical estimates suggest that the whole western world will have a “colossal mess” within the next 5–10 years. Regulators of some major countries significantly and over a short time‑period changed their forecasts for the worse which means that uncertainty in the outlook for the future persists. Indeed, the intensive anti‑crisis measures have reduced the severity of the past problems, however the problems themselves have not disappeared. Moreover, some of them have become more intense — the eurocrisis, excessive debts, global liquidity glut against the backdrop of its deficit in some of market segments. As was the case prior to the crisis, derivatives and high‑risk operations with “junk” bonds grow; budget problems — “fiscal cliff” in the US — and other problems worsen. All of the above forces the regulators to take unprecedented (in their scope and nature) steps. Will they be able to tackle the problems which emerge?


1988 ◽  
Vol 15 (1) ◽  
pp. 23-51 ◽  
Author(s):  
R McCullagh ◽  
M Andrews ◽  
Anne Clarke ◽  
G Collins ◽  
E Halpin ◽  
...  

Summary Excavations at Newton have revealed three phases of land use. Mesolithic activity was restricted to small flint working and domestic sites. A Neolithic phase appears to relate to a fragile soil resource which rapidly declined in quality. The final phase, possibly related to a Christian Irish presence on the island, occurs late in the sequence.


2015 ◽  
Vol 32 (1) ◽  
pp. 40-77
Author(s):  
Peter Mercer-Taylor

The notion that there might be autobiographical, or personally confessional, registers at work in Mendelssohn’s 1846 Elijah has long been established, with three interpretive approaches prevailing: the first, famously advanced by Prince Albert, compares Mendelssohn’s own artistic achievements with Elijah’s prophetic ones; the second, in Eric Werner’s dramatic formulation, discerns in the aria “It is enough” a confession of Mendelssohn’s own “weakening will to live”; the third portrays Elijah as a testimonial on Mendelssohn’s relationship to the Judaism of his birth and/or to the Christianity of his youth and adulthood. This article explores a fourth, essentially untested, interpretive approach: the possibility that Mendelssohn crafts from Elijah’s story a heartfelt affirmation of domesticity, an expression of his growing fascination with retiring to a quiet existence in the bosom of his family. The argument unfolds in three phases. In the first, the focus is on that climactic passage in Elijah’s Second Part in which God is revealed to the prophet in the “still small voice.” The turn from divine absence to divine presence is articulated through two clear and powerful recollections of music that Elijah had sung in the oratorio’s First Part, a move that has the potential to reconfigure our evaluation of his role in the public and private spheres in those earlier passages. The second phase turns to Elijah’s own brief sojourn into the domestic realm, the widow’s scene, paying particular attention to the motivations that may have underlain the substantial revisions to the scene that took place between the Birmingham premiere and the London premiere the following year. The final phase explores the possibility that the widow and her son, the “surrogate family” in the oratorio, do not disappear after the widow’s scene, but linger on as “para-characters” with crucial roles in the unfolding drama.


2010 ◽  
Vol 2010 (56) ◽  
Author(s):  
Ippei Fujiwara ◽  
◽  
Nao Sudo ◽  
Tomoyuki Nakajima ◽  
Yuki Teranishi ◽  
...  

Author(s):  
Michael P. DeJonge

With this chapter, the book transitions from a presentation of Bonhoeffer’s political thinking to an account of his resistance thinking in action. This chapter also begins the presentation of the first of the three phases of resistance, which lasts from 1932 until 1935. The chapter focuses on “The Church and the Jewish Question” (1933), the central text of this first phase, identifying in it the first two of Bonhoeffer’s six types of resistance: individual and humanitarian resistance to state injustice (type 1) and the church’s resistance through diaconal service to the victims of state injustice (type 2). These set the stage for Chapters 6–8’s considerations of resistance through the church’s preaching office, which is the central agent of resistance in the first phase.


Author(s):  
Michael P. DeJonge

The Introduction begins by noting the frequency and ease with which Bonhoeffer is mentioned in contemporary conversations about political resistance. Nonetheless, it would be difficult to derive from these appeals to Bonhoeffer any clear sense of the legacy of his political resistance. This raises the question: What did Bonhoeffer actually say about political resistance? Noting that Bonhoeffer spoke about political life primarily as a Christian pastor and Lutheran theologian, the Introduction sets forth the task of the book, which is a presentation of Bonhoeffer’s resistance thinking in the broader context of his theology. As summarized in the Introduction, this book presents Bonhoeffer’s resistance thinking chronologically according to three phases of development and systematically according to a sixfold typology of resistance.


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