Times are tough, but don't worry about most members of Congress making ends meet.
Their collective wealth grew by 13 percent last year, leaving them in better shape than most Americans to make it through an economic downturn, according to a new analysis of personal financial reports.
Overall, nearly two of every three senators are millionaires. That includes presidential candidates Sen. John McCain, R-Ariz., and Sen. Barack Obama, D-Ill. In the House, 39 percent of all members belong to the exclusive club.
Only 1 percent of all Americans are considered millionaires.
"With a median net worth of $746,000, most members of Congress have a comfortable financial cushion to ride out any recession," said Sheila Krumholz, executive director of the nonpartisan Center for Responsive Politics, which conducted the study.
In the House of Representatives, Rep. Jane Harman, D-Calif., ranks No. 1, with $397 million, followed by Rep. Darrell Issa, R-Calif., with $343 million. Rep Robin Hayes, R-N.C., ranks third, with $173.4 million. House Speaker Nancy Pelosi, D-Calif., ranks sixth, with $62 million.
In the Senate, the two Democrats from Massachusetts claimed two of the top three spots.
Sen. John Kerry led the pack, with $336 million, while Sen. Edward M. Kennedy ranked third, with $104 million. Sen. Herb Kohl, D-Wis., ranked second, with $241.5 million. Overall, senators had a median net worth estimated at $1.7 million.
The 535 members of Congress, who earn average annual salaries of $169,000 and receive cost-of-living pay increases, had a total net worth of $3.7 billion last year. Although some are likely to take a hit from Wall Street's woes, their average net worth soared by 61 percent from 2004 to 2007.
However, not all members are wealthy and some appear to be bankrupt. The study found that 16 House members and three senators had an average net worth of less than zero.
Obama ranked as one of the biggest financial winners, with his net worth increasing from $800,000 in 2006 to $4.7 million last year, thanks mainly to royalties from his two best-selling books. McCain had a net worth estimated at $28.5 million, with most of the wealth attributed to his wife Cindy's family fortune.
Here's a list of the members who had the highest average net worth last year:
Senate
1 John Kerry (D-Mass.)........$336,224,883
2 Herb Kohl (D-Wis.)........$241,545,513
3 Edward M. Kennedy (D-Mass.)........$103,560,020
4 Jay Rockefeller (D-W.Va.)........$93,715,011
5 Frank Lautenberg (D-N.J.)........$89,509,099
6 Dianne Feinstein (D-Calif.)........$84,171,162
7 Gordon Smith (R-Ore.)........$46,127,014
8 Olympia Snowe (R-Maine)........$33,308,537
9 Claire McCaskill (D-Mo.)........$32,428,089
10 Elizabeth Dole (R-N.C.)........$31,421,472
House of Representatives
1 Jane Harman (D-Calif.)........$397,412,077
2 Darrell Issa (R-Calif.)........$343,457,521
3 Robin Hayes (R-N.C.)........$173,409,173
4 Vern Buchanan (R-Fla.)........$165,748,714
5 Michael McCaul (R-Texas)........$64,073,077
6 Nancy Pelosi (D-Calif.)........$62,468,047
7 Carolyn Maloney (D-N.Y.)........$50,297,547
8 Rodney Frelinghuysen (R-N.J.)........$47,350,092
9 Nita Lowey (D-N.Y.)........$43,716,445
10 Gary Miller (R-Calif.)........$39,978,021
Source: Center for Responsive Politics
Tough times: Congress Grew 13 Percent Richer In 2007
Thursday 30 October 2008
Thursday 23 October 2008
Israel Economy
The extent of poverty in Israel is the highest in the western world, with one out of every four citizens is defined as poor, according to a report published this week by the Organisation for Economic Co-operation and Development (O.E.C.D.). That statistic is 2-1/2 times the average number of poor people per capita in the developed world.
Israel ranks third in terms of the social gaps between the rich and poor, following Turkey and Mexico, according to IDF Army Radio.
Israel ranks third in terms of the social gaps between the rich and poor, following Turkey and Mexico, according to IDF Army Radio.
Tuesday 21 October 2008
The Official SAT Question of the Day™
Read the following SAT test question, then click on a button to select your answer
If S is the set of positive integers that are multiples
of 7, and if T is the set of positive integers that are multiples of 13, how many integers are in the intersection of S and T?
A. None
B. One
C. Seven
D. Thirteen
E. More than thirteen
Answer is E
Here's Why:
The intersection of sets S and T is the set of integers that are in S and also in T. Set S consists of all positive integers that are multiples of 7, and set T consists of all positive integers that are multiples of 13, so the intersection of S and T is the set of positive integers that are multiples of both 7 and 13. This is the set of all positive integers that are multiples of 7 × 13 = 91. There are an infinite number of positive integers that are multiples of 91, so there are more than thirteen integers in the intersection of S and T.
Difficulty: Medium
Question Type: Standard Multiple Choice
(Mathematics)
If S is the set of positive integers that are multiples
of 7, and if T is the set of positive integers that are multiples of 13, how many integers are in the intersection of S and T?
A. None
B. One
C. Seven
D. Thirteen
E. More than thirteen
Answer is E
Here's Why:
The intersection of sets S and T is the set of integers that are in S and also in T. Set S consists of all positive integers that are multiples of 7, and set T consists of all positive integers that are multiples of 13, so the intersection of S and T is the set of positive integers that are multiples of both 7 and 13. This is the set of all positive integers that are multiples of 7 × 13 = 91. There are an infinite number of positive integers that are multiples of 91, so there are more than thirteen integers in the intersection of S and T.
Difficulty: Medium
Question Type: Standard Multiple Choice
(Mathematics)
US Feds
Many are asking what is going on with the major banking bailouts in the U.S. and around the world. According to a Los Angeles Times/Bloomberg poll, only 31% of Americans supported the bailout.
Though the Board of Governors of the Federal Reserve is categorized as an independent government agency, "The Fed" is not owned by the government. In Lewis v. United States, the U.S. Court of Appeals for the Ninth Circuit stated that "the Reserve Banks are not federal instrumentalities for purposes of the FTCA [the Federal Tort Claims Act], but are independent, privately owned and locally controlled corporations." To verify this fact, please see the Ninth Circuit's decision 680 F.2d 1239 at the end of paragraph five. The same decision in paragraph 13 states, "Reserve Banks, as privately owned entities, receive no appropriated funds from Congress."
It's quite revealing that though the official website of the Federal Reserve contains a detailed description of the Federal Reserve that is over 20 pages in length, ownership of the Federal Reserve Banks is never even mentioned. Could it be that this information is conveniently withheld to keep the public from understanding who owns the banks which issue all U.S. dollars?
Though Federal Reserve Board members are appointed by the U.S. President and confirmed by the Senate, the Federal Reserve is a privately owned institution controlled mainly by large private banks. Once board members are appointed, the U.S. government has no control over their decisions other than the president's ability to remove a board member. Yet a study of the history and functions of the Federal Reserve reveals that powerful bankers such as J.P. Morgan have had inordinate power and control over the formation and management of the monetary policy of the United States through their power over the Fed. Congress has virtually no influence over this incredibly powerful institution.
Neither does the Fed have reserves to back all of the credit it issues. None of the money in circulation is backed by anything of real value such as gold or silver. The backing of U.S. currency by a gold standard was removed under President Nixon in 1971. In fact, the Fed, like all banks, at any one time has only 3 to 10% of all credit issued held in reserve as bank notes. So the Federal Reserve is neither truly federal, nor a full reserve. It is not owned or directly controlled by the United States government. The fact that the words "United States Federal Reserve System" are printed on every U.S. bank note thus raises serious questions.
The foundation for the Federal Reserve system was crafted in the utmost secrecy in 1910 at the Jekyll Island resort by several powerful men with very close ties to the Rockefellers, the J.P. Morgan family, and the Rothschilds — the richest and most powerful families in the world at that time. A version of the legislation crafted eventually passed in 1913 over the objections of many who feared that turning over control of the nation's money supply to a consortium of private bankers would inevitably only produce more riches for the ultra rich at the expense of the general public.
Virtually everyone agrees that the Fed is highly secretive. Wikipedia lists other criticisms of the Federal Reserve in the below two paragraphs:
"A large and varied group of criticisms have been directed against the Federal Reserve System. One group of criticisms, typified by the Austrian School, criticize the Federal Reserve as unnecessary and counterproductive interference in the economy. Other arguments include arguments in favor of the gold standard and criticisms of an alleged lack of accountability or culture of secrecy within the Reserve. Finally, a group of conspiracy theories make various charges against the Federal Reserve, generally claiming the Federal Reserve System is actually a scheme to enrich a few wealthy bankers at the expense of the public."
"Economists of the Austrian School such as Ludwig von Mises contend that the Federal Reserve's artificial manipulation of the money supply leads to the boom/bust business cycle that has occurred over the last century. Many economic libertarians ... believe that the Federal Reserve's manipulation of the money supply to stop "gold flight" from England caused, or was instrumental in causing, the Great Depression.
"Nobel Economist Milton Friedman said he 'prefer[s] to abolish the federal reserve system altogether.' [13]. Ben Bernanke, Chairman of the Board of Governors of Federal Reserve, stated: 'I would like to say to Milton [Friedman] and Anna [J. Schwartz]: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.' [22] [23]"
The Fractional Reserve System: Creating Money Out of Thin Air
Another aspect of banking about which most people know little to nothing is the fractional reserve system. Fractional-reserve banking refers to the common banking practice of issuing more money than the bank holds as reserves. Banks in modern economies typically loan their customers many times the sum of the cash reserves that they hold." Did you know that for every dollar in your checking or savings account, the bank can legally loan out $10 or more?
"When the ancients began to use gold in making transactions, it became apparent that it was both unsafe and inconvenient for consumers and merchants to carry gold and have it weighed and assessed for purity every time a transaction was negotiated. It therefore became commonplace to deposit one's gold with goldsmiths whose vaults or strongrooms could be used for a fee. Upon receiving a gold deposit, the goldsmith issued a receipt to the depositor. Soon goods were traded for the goldsmiths' receipts and the receipts became the first kind of paper money.
"At this point the goldsmiths – embryonic bankers – used a 100% reserve system; their circulating paper money receipts were fully backed by gold. But, given the public's acceptance of the goldsmiths' receipts as paper money, the goldsmiths became aware that the gold they stored was rarely redeemed. Then some adroit banker hit on the idea that paper money could be issued in excess of the amount of gold held. Goldsmiths [then began to issue] additional 'receipts' ... into circulation by making interest-earning loans in the form of gold receipts. This was the beginning of the fractional reserve system of banking."
The college text from which the above quote is taken does not question the propriety of goldsmiths creating these new "receipts" or money without any gold backing, without any authority, and indeed without any real reason to do so other than to enrich themselves. In fact, the text even praises the questionable behavior of the one who began this hidden form of corruption as "adroit."
The unsuspecting public had no idea that goldsmiths were issuing paper receipts accepted as money which were backed by no gold deposits at all for ten times or more the amount of gold that had been entrusted to them. The goldsmiths were secretly creating money out of thin air. They thus made themselves fantastically wealthy without anyone noticing what was going on. In order to better hide this deceit and divert people's attention, the goldsmiths stopped their old practice of charging for storing gold and instead began to pay customers a small interest on their gold deposits to keep them happy. Thus it was that modern day bankers were born.
Amazingly, the system has changed little today. Macroeconomics professors, college texts, and all involved with banking almost never question the ethics or morality of this fractional reserve system. No one even questions in any meaningful way the ethics and corruption involved in creating money out of thin air. In fact, the fractional reserve system was formalized into law centuries ago and continues to be both legal and the accepted common practice around the world today.
Have you ever wondered how banks can afford to own those massive buildings downtown if they are only charging 15% or so on loans and paying 5% in interest on deposits? If bankers were not allowed to create money out of thin air, they would be making only 10% or so a year on every loan they issued, far from enough to build the towering skyscrapers owned by banks in practically every major city. But by creating credit (money) using the fractional reserve system, bankers can legally claim credit to 10 times or more the amount of any loan. Now you can understand the foundation upon which global banking empires are built.
As this system has been used for centuries by every country in the world, it clearly works to maintain a relatively stable economic order. We are not advocating a dramatic change of this system. We do, however, feel that suppressing and otherwise hiding this key information is a massive deception which does not serve the public and only serves to allow the bankers to easily become excessively powerful and corrupt. You can help to inform others of what is going on by educating yourself with the above videos and spreading the word on the banking and financial cover-up. Thanks for caring.
WAR IS A RACKET – by General Smedley Butler
A Brief History of Banking
History of Banking and Money
Introducing Monetary Thought to Students of All Ages:
Though the Board of Governors of the Federal Reserve is categorized as an independent government agency, "The Fed" is not owned by the government. In Lewis v. United States, the U.S. Court of Appeals for the Ninth Circuit stated that "the Reserve Banks are not federal instrumentalities for purposes of the FTCA [the Federal Tort Claims Act], but are independent, privately owned and locally controlled corporations." To verify this fact, please see the Ninth Circuit's decision 680 F.2d 1239 at the end of paragraph five. The same decision in paragraph 13 states, "Reserve Banks, as privately owned entities, receive no appropriated funds from Congress."
It's quite revealing that though the official website of the Federal Reserve contains a detailed description of the Federal Reserve that is over 20 pages in length, ownership of the Federal Reserve Banks is never even mentioned. Could it be that this information is conveniently withheld to keep the public from understanding who owns the banks which issue all U.S. dollars?
Though Federal Reserve Board members are appointed by the U.S. President and confirmed by the Senate, the Federal Reserve is a privately owned institution controlled mainly by large private banks. Once board members are appointed, the U.S. government has no control over their decisions other than the president's ability to remove a board member. Yet a study of the history and functions of the Federal Reserve reveals that powerful bankers such as J.P. Morgan have had inordinate power and control over the formation and management of the monetary policy of the United States through their power over the Fed. Congress has virtually no influence over this incredibly powerful institution.
Neither does the Fed have reserves to back all of the credit it issues. None of the money in circulation is backed by anything of real value such as gold or silver. The backing of U.S. currency by a gold standard was removed under President Nixon in 1971. In fact, the Fed, like all banks, at any one time has only 3 to 10% of all credit issued held in reserve as bank notes. So the Federal Reserve is neither truly federal, nor a full reserve. It is not owned or directly controlled by the United States government. The fact that the words "United States Federal Reserve System" are printed on every U.S. bank note thus raises serious questions.
The foundation for the Federal Reserve system was crafted in the utmost secrecy in 1910 at the Jekyll Island resort by several powerful men with very close ties to the Rockefellers, the J.P. Morgan family, and the Rothschilds — the richest and most powerful families in the world at that time. A version of the legislation crafted eventually passed in 1913 over the objections of many who feared that turning over control of the nation's money supply to a consortium of private bankers would inevitably only produce more riches for the ultra rich at the expense of the general public.
Virtually everyone agrees that the Fed is highly secretive. Wikipedia lists other criticisms of the Federal Reserve in the below two paragraphs:
"A large and varied group of criticisms have been directed against the Federal Reserve System. One group of criticisms, typified by the Austrian School, criticize the Federal Reserve as unnecessary and counterproductive interference in the economy. Other arguments include arguments in favor of the gold standard and criticisms of an alleged lack of accountability or culture of secrecy within the Reserve. Finally, a group of conspiracy theories make various charges against the Federal Reserve, generally claiming the Federal Reserve System is actually a scheme to enrich a few wealthy bankers at the expense of the public."
"Economists of the Austrian School such as Ludwig von Mises contend that the Federal Reserve's artificial manipulation of the money supply leads to the boom/bust business cycle that has occurred over the last century. Many economic libertarians ... believe that the Federal Reserve's manipulation of the money supply to stop "gold flight" from England caused, or was instrumental in causing, the Great Depression.
"Nobel Economist Milton Friedman said he 'prefer[s] to abolish the federal reserve system altogether.' [13]. Ben Bernanke, Chairman of the Board of Governors of Federal Reserve, stated: 'I would like to say to Milton [Friedman] and Anna [J. Schwartz]: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.' [22] [23]"
The Fractional Reserve System: Creating Money Out of Thin Air
Another aspect of banking about which most people know little to nothing is the fractional reserve system. Fractional-reserve banking refers to the common banking practice of issuing more money than the bank holds as reserves. Banks in modern economies typically loan their customers many times the sum of the cash reserves that they hold." Did you know that for every dollar in your checking or savings account, the bank can legally loan out $10 or more?
"When the ancients began to use gold in making transactions, it became apparent that it was both unsafe and inconvenient for consumers and merchants to carry gold and have it weighed and assessed for purity every time a transaction was negotiated. It therefore became commonplace to deposit one's gold with goldsmiths whose vaults or strongrooms could be used for a fee. Upon receiving a gold deposit, the goldsmith issued a receipt to the depositor. Soon goods were traded for the goldsmiths' receipts and the receipts became the first kind of paper money.
"At this point the goldsmiths – embryonic bankers – used a 100% reserve system; their circulating paper money receipts were fully backed by gold. But, given the public's acceptance of the goldsmiths' receipts as paper money, the goldsmiths became aware that the gold they stored was rarely redeemed. Then some adroit banker hit on the idea that paper money could be issued in excess of the amount of gold held. Goldsmiths [then began to issue] additional 'receipts' ... into circulation by making interest-earning loans in the form of gold receipts. This was the beginning of the fractional reserve system of banking."
The college text from which the above quote is taken does not question the propriety of goldsmiths creating these new "receipts" or money without any gold backing, without any authority, and indeed without any real reason to do so other than to enrich themselves. In fact, the text even praises the questionable behavior of the one who began this hidden form of corruption as "adroit."
The unsuspecting public had no idea that goldsmiths were issuing paper receipts accepted as money which were backed by no gold deposits at all for ten times or more the amount of gold that had been entrusted to them. The goldsmiths were secretly creating money out of thin air. They thus made themselves fantastically wealthy without anyone noticing what was going on. In order to better hide this deceit and divert people's attention, the goldsmiths stopped their old practice of charging for storing gold and instead began to pay customers a small interest on their gold deposits to keep them happy. Thus it was that modern day bankers were born.
Amazingly, the system has changed little today. Macroeconomics professors, college texts, and all involved with banking almost never question the ethics or morality of this fractional reserve system. No one even questions in any meaningful way the ethics and corruption involved in creating money out of thin air. In fact, the fractional reserve system was formalized into law centuries ago and continues to be both legal and the accepted common practice around the world today.
Have you ever wondered how banks can afford to own those massive buildings downtown if they are only charging 15% or so on loans and paying 5% in interest on deposits? If bankers were not allowed to create money out of thin air, they would be making only 10% or so a year on every loan they issued, far from enough to build the towering skyscrapers owned by banks in practically every major city. But by creating credit (money) using the fractional reserve system, bankers can legally claim credit to 10 times or more the amount of any loan. Now you can understand the foundation upon which global banking empires are built.
As this system has been used for centuries by every country in the world, it clearly works to maintain a relatively stable economic order. We are not advocating a dramatic change of this system. We do, however, feel that suppressing and otherwise hiding this key information is a massive deception which does not serve the public and only serves to allow the bankers to easily become excessively powerful and corrupt. You can help to inform others of what is going on by educating yourself with the above videos and spreading the word on the banking and financial cover-up. Thanks for caring.
WAR IS A RACKET – by General Smedley Butler
A Brief History of Banking
History of Banking and Money
Introducing Monetary Thought to Students of All Ages:
Monday 20 October 2008
US Poverty
The average person receiving the full benefits of food stamp assistance goes grocery shopping with only $29.35 for a five-day period, or $5.87 a day.
Food Stamp Challenge prompts belt tightening
Food Stamp Challenge prompts belt tightening
The Official SAT Question of the Day™
The following sentence contains either a single error or no error at all. If the sentence contains an error, select the one bold part that must be changed to make the sentence correct. If the sentence contains no error, select choice E.
Although not(A) the first animated(B) feature film, Disney’s Snow White and the Seven Dwarfs was the first animated film to use(C) up-to-the-minute techniques as well as achieving(D) widespread release. No error(E)
A. (A)
B. (B)
C. (C)
D. (D)
E. (E)
Answer is D
Here's Why:
The error in this sentence occurs at (D), where there is an inappropriate verb form. The infinitive “to achieve” is needed to parallel the infinitive “to use.”
Question Type: Identifying Sentence Errors
(Writing)
Although not(A) the first animated(B) feature film, Disney’s Snow White and the Seven Dwarfs was the first animated film to use(C) up-to-the-minute techniques as well as achieving(D) widespread release. No error(E)
A. (A)
B. (B)
C. (C)
D. (D)
E. (E)
Answer is D
Here's Why:
The error in this sentence occurs at (D), where there is an inappropriate verb form. The infinitive “to achieve” is needed to parallel the infinitive “to use.”
Question Type: Identifying Sentence Errors
(Writing)
The Official SAT Question of the Day™
Choose the word or set of words that, when inserted in the sentence, best fits the meaning of the sentence as a whole.
Barbara McClintock’s systematic examination of corn demonstrated the transposition of genes, a finding that overturned entrenched beliefs and proved that ------- study may produce brilliant insights and ------- change.
A. haphazard . . radical
B. inherent . . controversial
C. improvised . . startling
D. methodical . . revolutionary
E. derivative . . gradual
Answer is D
Here's Why:
Only “methodical study” and “revolutionary change” match the ideas of “systematic examination” and “overturned entrenched beliefs.”
Difficulty: Medium
Question Type: Sentence Completions
(Critical Reading)
Barbara McClintock’s systematic examination of corn demonstrated the transposition of genes, a finding that overturned entrenched beliefs and proved that ------- study may produce brilliant insights and ------- change.
A. haphazard . . radical
B. inherent . . controversial
C. improvised . . startling
D. methodical . . revolutionary
E. derivative . . gradual
Answer is D
Here's Why:
Only “methodical study” and “revolutionary change” match the ideas of “systematic examination” and “overturned entrenched beliefs.”
Difficulty: Medium
Question Type: Sentence Completions
(Critical Reading)
Sunday 19 October 2008
Arkadi Gaydamak
The scandal, known as "Angolagate," goes back 10 years to when the illegal weapons deals were first revealed. Last week 42 defendants in the case finally went on trial before the 11th Criminal Court in Paris. The trappings of the trial are in keeping with its high-profile cast. The defendants sitting in the "Salle des criées," beneath elaborate ceiling murals and chandeliers in the Palace of Justice on the Ile de la Cité, include Jean-Christopher Mitterrand, the 61-year-old son of former President Francois Mitterrand, former Interior Minister Charles Pasqua, 81, and Jacques Attali, 64, a former advisor to Mitterrand who until recently worked for President Nicolas Sarkozy.
The leading role is played by Pierre Falcone, 54, who, according to the prosecution, was the mastermind behind the illegal weapons trade. Co-defendant Arkadi Gaydamak, 56, is currently hoping to embark on a second career as mayor of Jerusalem. He opted to remain in Israel.
.....Gaydamak left the country for Israel where, thanks to his Israeli citizenship, he is safe against extradition, despite international warrants for his arrest. After returning to the Holy Land, Gaydamak distinguished himself as a patron of the poor and the religious. A billionaire, he pays for vacations on the Red Sea for Israeli rocket attack victims and paid for a new hospital for Orthodox Jews. In addition, he seems to share the passion among newly rich Russians for buying football teams. Gaydamak owns the Beitar Jerusalem club.
FRENCH ELThe Sordid Tale of 'Angolagate'ITE ON TRIAL
The leading role is played by Pierre Falcone, 54, who, according to the prosecution, was the mastermind behind the illegal weapons trade. Co-defendant Arkadi Gaydamak, 56, is currently hoping to embark on a second career as mayor of Jerusalem. He opted to remain in Israel.
.....Gaydamak left the country for Israel where, thanks to his Israeli citizenship, he is safe against extradition, despite international warrants for his arrest. After returning to the Holy Land, Gaydamak distinguished himself as a patron of the poor and the religious. A billionaire, he pays for vacations on the Red Sea for Israeli rocket attack victims and paid for a new hospital for Orthodox Jews. In addition, he seems to share the passion among newly rich Russians for buying football teams. Gaydamak owns the Beitar Jerusalem club.
FRENCH ELThe Sordid Tale of 'Angolagate'ITE ON TRIAL
Thursday 16 October 2008
The Official SAT Question of the Day™
Choose the word or set of words that, when inserted in the sentence, best fits the meaning of the sentence as a whole.
His inclination to succumb to flattery made him ------- to the ------- of people who wished to take advantage of him.
A. immune . . predilection
B. prejudicial . . intentions
C. susceptible . . cajolery
D. resistant . . blandishments
E. amenable . . rejection
Answer is C
Here's Why:
The man in the sentence is “susceptible” to flattery. Because of this “inclination,” he is an easy target for people who use “cajolery” (flattery) to get what they want.
Difficulty: Hard
Question Type: Sentence Completions
(Critical Reading)
His inclination to succumb to flattery made him ------- to the ------- of people who wished to take advantage of him.
A. immune . . predilection
B. prejudicial . . intentions
C. susceptible . . cajolery
D. resistant . . blandishments
E. amenable . . rejection
Answer is C
Here's Why:
The man in the sentence is “susceptible” to flattery. Because of this “inclination,” he is an easy target for people who use “cajolery” (flattery) to get what they want.
Difficulty: Hard
Question Type: Sentence Completions
(Critical Reading)
Tuesday 14 October 2008
The Official SAT Question of the Day™
The following sentence contains either a single error or no error at all. If the sentence contains an error, select the one bold part that must be changed to make the sentence correct. If the sentence contains no error, select choice E.
From its modest beginnings as(A) a series of brief vignettes to its establishment as(B) the longest-running prime-time animated series on television, The Simpsons transformed(C) the way both the(D) audiences and television programmers view the animated sitcom. No error E
A. (A)
B. (B)
C. (C)
D. (D)
E. (E)
Answer is D
Here's Why:
The error in this sentence occurs at (D), where there is an improper idiom. What follows each part of the “both...and” construction must be grammatically parallel, but here “both” is followed by the article “the” while “and” is followed by the noun “television programmers.”
Question Type: Identifying Sentence Errors
(Writing)
From its modest beginnings as(A) a series of brief vignettes to its establishment as(B) the longest-running prime-time animated series on television, The Simpsons transformed(C) the way both the(D) audiences and television programmers view the animated sitcom. No error E
A. (A)
B. (B)
C. (C)
D. (D)
E. (E)
Answer is D
Here's Why:
The error in this sentence occurs at (D), where there is an improper idiom. What follows each part of the “both...and” construction must be grammatically parallel, but here “both” is followed by the article “the” while “and” is followed by the noun “television programmers.”
Question Type: Identifying Sentence Errors
(Writing)
The Official SAT Question of the Day™
Choose the word or set of words that, when inserted in the sentence, best fits the meaning of the sentence as a whole.
Refuting the claim that the surest way to reduce anger is to express it, the author asserts that ------- anger can actually increase its ------- .
A. denying . . impact
B. understanding . . importance
C. overcoming . . likelihood
D. venting . . intensity
E. voicing . . benefits
Answer is D
Here's Why:
Since the author denies that expressing anger is a way to lessen it, the author probably believes that expressing anger increases it. The only choice that fits is “venting . . intensity”
Difficulty: Medium
Question Type: Sentence Completions
(Critical Reading)
Refuting the claim that the surest way to reduce anger is to express it, the author asserts that ------- anger can actually increase its ------- .
A. denying . . impact
B. understanding . . importance
C. overcoming . . likelihood
D. venting . . intensity
E. voicing . . benefits
Answer is D
Here's Why:
Since the author denies that expressing anger is a way to lessen it, the author probably believes that expressing anger increases it. The only choice that fits is “venting . . intensity”
Difficulty: Medium
Question Type: Sentence Completions
(Critical Reading)
Wednesday 8 October 2008
Neel Kashkari
On October 6 US Treasury Secretary Henry Paulson named Neel Kashkari to head the Treasury’s new Office of Financial Stability (OFS). The OFS is charged with paying out $700 billion to Wall Street banks and other financial firms in exchange for their failed mortgage-backed assets, under the terms of the bailout signed into law by President Bush on October 3.
Kashkari’s identity is thus a matter of considerable public interest. Only 35 years old, Kashkari joined the Treasury in 2006 “as a Senior Advisor to US Treasury Secretary Henry M. Paulson,” according to his official Treasury Department biography. At the time, Paulson was giving up his job as CEO of Wall Street investment bank Goldman Sachs to join the Treasury.
The biography continues, “Prior to joining the Treasury Department, Mr. Kashkari was a Vice-President of Goldman Sachs & Co. in San Francisco, where he led Goldman’s IT Security Investment Banking practice, advising public and private companies on mergers and acquisitions and financial transactions.”
Despite his high rank, Kashkari has only a few years of experience in finance. After initially studying aerospace engineering at the University of Illinois, he worked at defense firm TRW on contract projects from the US space agency NASA, before switching careers and attending the Wharton School of Business in Philadelphia. He joined Goldman Sachs after graduating from Wharton in 2002.
Once at the Treasury, Kashkari helped prepare the recently passed bailout. The Wall Street Journal wrote, “Mr. Kashkari was part of the Treasury team that negotiated the asset-repurchase program with Congress [...] He was also one of the originators of the plan. Last year, he and Phillip Swagel, assistant secretary for economic policy, crafted a proposal called ‘break the glass’—referring to the emergency nature of using such a tool—which envisioned Treasury buying bad loans and other assets.”
Kashkari’s history highlights the extraordinary influence of Goldman Sachs, a firm that stands massively to benefit from the bailout its former executives have organized at the Treasury. Not only does Goldman now have the option of unloading its failed mortgage-backed assets on the Treasury, but it stands to make large sums from carrying out the actual transactions of the bailout program itself.
From: Picked to direct the Wall Street bailout: Who is Neel Kashkari?
Kashkari’s identity is thus a matter of considerable public interest. Only 35 years old, Kashkari joined the Treasury in 2006 “as a Senior Advisor to US Treasury Secretary Henry M. Paulson,” according to his official Treasury Department biography. At the time, Paulson was giving up his job as CEO of Wall Street investment bank Goldman Sachs to join the Treasury.
The biography continues, “Prior to joining the Treasury Department, Mr. Kashkari was a Vice-President of Goldman Sachs & Co. in San Francisco, where he led Goldman’s IT Security Investment Banking practice, advising public and private companies on mergers and acquisitions and financial transactions.”
Despite his high rank, Kashkari has only a few years of experience in finance. After initially studying aerospace engineering at the University of Illinois, he worked at defense firm TRW on contract projects from the US space agency NASA, before switching careers and attending the Wharton School of Business in Philadelphia. He joined Goldman Sachs after graduating from Wharton in 2002.
Once at the Treasury, Kashkari helped prepare the recently passed bailout. The Wall Street Journal wrote, “Mr. Kashkari was part of the Treasury team that negotiated the asset-repurchase program with Congress [...] He was also one of the originators of the plan. Last year, he and Phillip Swagel, assistant secretary for economic policy, crafted a proposal called ‘break the glass’—referring to the emergency nature of using such a tool—which envisioned Treasury buying bad loans and other assets.”
Kashkari’s history highlights the extraordinary influence of Goldman Sachs, a firm that stands massively to benefit from the bailout its former executives have organized at the Treasury. Not only does Goldman now have the option of unloading its failed mortgage-backed assets on the Treasury, but it stands to make large sums from carrying out the actual transactions of the bailout program itself.
From: Picked to direct the Wall Street bailout: Who is Neel Kashkari?
Tuesday 7 October 2008
Rice
Rice is the staple crop for more than 70 per cent of Indians. It is grown in an area of 44 million hectares with a production of 90 million tonnes per year. India is the second largest producer of paddy in the world after China. Small and marginal farmers, who contribute 78 per cent of the total food production, cultivate paddy. These farmers have evolved numerous paddy varieties that suit dry lands and water logged saline regions. The country boasted to have had 30,000 varieties of paddy crops. Unfortunately, our failure to recognise the part they played in ensuring the country’s food security has made many of the varieties to go extinct. Now, just 3,000 of them are said to be existing.
The Official SAT Question of the Day™
Read the following SAT test question, then click on a button to select your answer.
Note: Figure not drawn to scale.
The circle shown above has center O and a radius of length 5. If the area of the shaded region is 20, what is the value of x?
A. 18
B. 36
C. 45
D. 54
E. 72
Answer is A
Here's Why:
In order to find the value of x, you should first determine the measure of the angle that is located at point O in the right triangle. To determine this angle, you must calculate what fraction of the circle’s area is unshaded. The radius r of the circle is 5 and its area is
r^2, or 25
. The area of the shaded region is 20
, so the area of the unshaded region must be 5
. Therefore, the fraction of the circle’s area that is unshaded is
, or
. A circle contains a total of 360 degrees of arc, which means that
of 360 degrees, or 72 degrees, is the measure of the angle at point O in the unshaded region. Since you now know that two of the three angles in the triangle measure 72 degrees and 90 degrees and that the sum of the measures of the three angles is always 180 degrees, the third angle must measure 18 degrees. Therefore, x = 18.
Difficulty: Hard
Question Type: Standard Multiple Choice
(Mathematics)
Note: Figure not drawn to scale.
The circle shown above has center O and a radius of length 5. If the area of the shaded region is 20, what is the value of x?
A. 18
B. 36
C. 45
D. 54
E. 72
Answer is A
Here's Why:
In order to find the value of x, you should first determine the measure of the angle that is located at point O in the right triangle. To determine this angle, you must calculate what fraction of the circle’s area is unshaded. The radius r of the circle is 5 and its area is
r^2, or 25
. The area of the shaded region is 20
, so the area of the unshaded region must be 5
. Therefore, the fraction of the circle’s area that is unshaded is
, or
. A circle contains a total of 360 degrees of arc, which means that
of 360 degrees, or 72 degrees, is the measure of the angle at point O in the unshaded region. Since you now know that two of the three angles in the triangle measure 72 degrees and 90 degrees and that the sum of the measures of the three angles is always 180 degrees, the third angle must measure 18 degrees. Therefore, x = 18.
Difficulty: Hard
Question Type: Standard Multiple Choice
(Mathematics)
Saturday 4 October 2008
The Official SAT Question of the Day™
Choose the word or set of words that, when inserted in the sentence, best fits the meaning of the sentence as a whole.
The language of Anne Spencer’s poetry conveys an impression of ------- that can be misleading: just when a poem seems to be echoing routine feelings, the diction suddenly sharpens to embody fresh and unexpected ideas.
A. frivolity
B. triteness
C. diversity
D. lyricism
E. precision
Answer is B
Here's Why:
Only “triteness” logically completes the sentence; a poem echoing routine feelings might well be described as possessing “triteness,” in contrast to the fresh and unexpected ideas that Anne Spencer’s poems go on to express.
Difficulty: Hard
Question Type: Sentence Completions
(Critical Reading)
The language of Anne Spencer’s poetry conveys an impression of ------- that can be misleading: just when a poem seems to be echoing routine feelings, the diction suddenly sharpens to embody fresh and unexpected ideas.
A. frivolity
B. triteness
C. diversity
D. lyricism
E. precision
Answer is B
Here's Why:
Only “triteness” logically completes the sentence; a poem echoing routine feelings might well be described as possessing “triteness,” in contrast to the fresh and unexpected ideas that Anne Spencer’s poems go on to express.
Difficulty: Hard
Question Type: Sentence Completions
(Critical Reading)
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