A second reason why science cannot replace judgement is the behavior of financial markets.

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And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets.

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As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past.

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Trillions of dollars every day are being exchanged around the world in all of the financial markets.

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If the EU and the US can cooperate successfully on regulating financial markets, everyone else will follow.

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Credit crunch!

I hear no sound of joy or laughter
As the markets crash like thunder
Take a look at the whole financial bunch
Many made money on just a keypunch

Banks which once stood brave
Are now begging to be saved
With Governments pumping billions into banks
Because many claim to have empty money tanks

People’s savings are wiped off the record
Sit home! Sit home! Calculate what you can afford
For fast is this growing curse flowing
As the financial chaos wind keeps blowing

On each lip only two words are spoken
Credit-Crunch!
Behold the whole Financial Market is broken!

Copyright 2008 - Sylvia Chidi

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George Soros

The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market.

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Selling drug secrets violates a trust that is fundamental to the integrity of both scientific research and our financial markets.

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While expanding market access for American industry, financial markets and farmers is critical, I believe it needs to be done responsibly, accounting for the treatment and protection of workers and the environment.

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It is not so for art in appreciation because art is concerned with human behavior. And science is concerned with the behavior of metal or energy. It depends on what the fashion is. Now today it's energy. It's the same soul behind it. The same soul, you see.

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Financial Counseling

Don't you find it remarkable,
That those you labelled undesirable...
With a moving away from them decades ago,
Are now the ones most qualified...
To purchase your foreclosed home?
And you and the others,
Were booted out of most of them.
While from other homes,
They seem to be taking their time moving in.

'I thought you were here to provide me with,
Financial counseling.
Not teach me history.
I wish not to hear none of this.
With a lesson you believe I need to get.'

You are right.
Forgive me for that 'over zealous' insight.
I just thought in providing you financial counseling...
Being aware of 'your' history,
Might avoid you making similar judgement calls...
In your future.

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In Asia, a lot of successful economies that had been living on their own saving, decided to open up their financial markets to international capital in the early 1990s. So here were countries doing quite well, but they decided they'd borrow a bit more and do even better.

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Bulls and Bears

Markets crashed
Hopes dashed
Brokers lashed
Doctors cashed
traders bashed
Overnight bankrupt
Shutters shut
Investors harassed
Analysts embarrassed
Govt. appeals
Don’t desperate feel
Markets volatile
Remain agile
Strong fundamentals
Good long term potential
Global concerns
Markets govern
Recession- sub prime crisis
Inflation-sky high prices
Bears overpower
Bulls run for cover
Bears or bulls
Markets pulls
Smart picks
Take risks
I f you are Weak hearted
Stay away from the markets.

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In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems.

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Business chief executive officers and their boards succumb to the pressures of the financial markets and their fears of takeovers and pour out their energies to produce quarterly earnings - at the expense of building their companies for the long term.

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Not Easy To Overcome

There are huge potentials of the markets waiting for you over there,
So why can't you take advantage of it to express yourself?
For there are no finger prints in this world which are the same,
But the masters are not easy to overcome.

Show up to the course and be very objective and realistic to your muse,
And bring out a constructive commitment towards your goals!
For writing is like a skill which has an artistic roll to play always,
But the masters are not easy to overcome.

Aim at the potential markets around you and try to get there!
For i will meet you when you get there;
But breaking through these markets will let you feel heaven right here on earth!
All the same, the masters are not easy to overcome.

These huge potentials of these markets are what you need,
But criticise me if i am wrong;
For the true potentials of your talents are what makes up the markets,
And you need a break through to satisfy your muse with your mind!
But the masters are not easy to overcome.

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One of my complaints is that you've got far more scientists than ever before but the pace of discovery has not increased. Why? Because they're all busy just filling in the details of what they think is the standard story. And the youngsters, the people with different ideas have just as big a fight as ever and normally it takes decades for science to correct itself. But science does correct itself and that's the reason why science is such a glorious thing for our species.

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I Love....

i love...
that's the reason i walk,
the reason i breathe.
the reason i grieve.
the reason i dance.
the reason i smile.
the reason i listen.
the reason i offer a hand.
the reason i see beauty.
the reason i see both darkness,
and light....
the reason i take chances.
the reason i keep going.
the reason i get angry.
the reason i forgive.
the reason i touch.
the reason i question.
the reason i believe.
the reason i am tolerant.
the reason i understand.
the reason i fall.
the reason i fly.
the reason i write...
the reason i am what i am!

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Judgement Day

Its my life, get off my ass, get outta my face
Man, I dont see no problem
Kickin back, aint kickin you, no, no
Anyway, if I make em, then I solve em
Oh, thats right, yeah, whew
Makin plans s a waste, aint no future here
Got no face, got no religion
Oh tell me why should I care or even, why should I try?
I just slide, slide on by, never bad enough to crucify me
Cry! put it out until judgement day
Ill bear the cross on judgement day
I do most anything, keep em doing anything, cos
Sometimes I just wanna do nothin
Nothin lost, tell me, how can I lose
When Im startin off with nothin
Oh tell me why should I care or even, why try?
I just slide, slide on by, never bad enough to crucify me
Oh! put it out until judgement day
Ill bear that same old cross on judgement day
Oh! hey!
(solo)
Hey man, anythings alright. yeah!
Wow! put it out until judgement day
Ill bear the cross on judgement day
Put it out, put it out until judgement day
Ill bear the cross on judgement day
Oh! whoa, yeah, on judgement day
Oh! whoa, yeah, on judgement day
Wow!

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A reason to smile

A reason to smile
Is that it looks better than a frown
It makes you feel happy
With no sense of feeling down

A reason to smile
Is that your smiles so bright
You could replace our sun
Your smiles full of light

A reason to smile
Is you’ll always look your best
Even though you always do
You’ll feel more blessed

A reason to smile
Is others look up to you
They want to be the same
Someone who is true

A reason to smile
Is that it shows who you are
So go on and smile
And shine like a star

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George Soros

I think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social needs.

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