abu yahya's definitions
(ECONOMICS) when a government has to restructure spending by massively cutting social programs, development programs, and subsidies on basic necessities. Often accompanied by taxes increases, especially on lower incomes (since the poor cannot escape tax hikes).
Usually we use the term "austerity program" when the government in question has to backtrack on its ideological commitments. An example of this is France, after June 1982. The Socialist government of Mitterrand had just implemented a raft of major new social welfare programs, and was promptly forced to cut everything back when the deficit ballooned.
by Abu Yahya May 5, 2010
Get the austerity programmug. The phenomenon of people condemning vices they have indulged in themselves already, and since given up. Inspired by the _Confessions_ of Augustine (417 CE), in which Augustine describes his career path and then denouces the things he did to get to where he is.
WHY IT'S BAD
With SAS, the perpetrator has received the BENEFITS of a particular vice. It could consist of sleeping one's way to the top, or lying a lot, or getting divorced, or indulging a vice until it gets tiresome. At that point the perpetrator makes a big display out of quitting the vice and condemning it publicly. It's like climbing a ladder out of a ditch and then pulling the ladder up so others can't get out of the ditch; and to add insult to injury, the perpetrator ridicules the desire to use the ladder.
Like other forms of hypocrisy, it's destructive because it enforces stupid social codes. If the social codes were right all along, then the perpetrator should not get off the hook for violating them, but, in effect, he gets praise for having done so (and having "kicked the habit"). If the codes were wrong, then they should be confronted . And finally, it's bad because it creates a meritocracy of bullshit.
WHY IT'S BAD
With SAS, the perpetrator has received the BENEFITS of a particular vice. It could consist of sleeping one's way to the top, or lying a lot, or getting divorced, or indulging a vice until it gets tiresome. At that point the perpetrator makes a big display out of quitting the vice and condemning it publicly. It's like climbing a ladder out of a ditch and then pulling the ladder up so others can't get out of the ditch; and to add insult to injury, the perpetrator ridicules the desire to use the ladder.
Like other forms of hypocrisy, it's destructive because it enforces stupid social codes. If the social codes were right all along, then the perpetrator should not get off the hook for violating them, but, in effect, he gets praise for having done so (and having "kicked the habit"). If the codes were wrong, then they should be confronted . And finally, it's bad because it creates a meritocracy of bullshit.
A good example of St Augustine's Syndrome is Doctor Laura Schlessinger, the evangelical talk radio host who climbed her way to the top, divorced, and then renounced feminism. Many putative sages are famous for having had, earlier in their lives, immense amounts of sex with numerous partners, only to renounce the ways of the flesh and denounced materialistic society.
by Abu Yahya March 21, 2010
Get the St Augustine's Syndromemug. (FINANCE) create a call option that allows the future owner to buy a set number of shares of an underlying stock at a fixed strike price. May also be for traded items other than stock. The writer of a call option is both the counterparty and the originator of the derivative.
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A call option is a product that allows an investor to take a long position on a stock without actually owning it; if the underlying stock rises in value, the call option rises a lot more. The increased potential windfall is offset by the much greater likelihood that the investor will lose the entire initial investment.
The writer of the option is presumed to own the thing offered for sale; if the price of the underlying stock rises above the strike price, then the owner of the option will presumably exercise it and pocket the profit. Thus, there is a risk to the writer of the option that all of the profits from owning the stock will go to the buyer of the option. This risk is offset by the fees the writer charges for the option.
In some cases, a speculator may write an option for shares of stock that she does not own. This is particularly risky, since the price of the underlying stock could rise above the strike price, forcing the writer to buy the shares at a high price in order to sell them at a low price.
______________________________
A call option is a product that allows an investor to take a long position on a stock without actually owning it; if the underlying stock rises in value, the call option rises a lot more. The increased potential windfall is offset by the much greater likelihood that the investor will lose the entire initial investment.
The writer of the option is presumed to own the thing offered for sale; if the price of the underlying stock rises above the strike price, then the owner of the option will presumably exercise it and pocket the profit. Thus, there is a risk to the writer of the option that all of the profits from owning the stock will go to the buyer of the option. This risk is offset by the fees the writer charges for the option.
In some cases, a speculator may write an option for shares of stock that she does not own. This is particularly risky, since the price of the underlying stock could rise above the strike price, forcing the writer to buy the shares at a high price in order to sell them at a low price.
ANNA: See, here we can see management has totally screwed up. The share price is going to fall, so we should write a call.
BILL: But we don't own any shares of their stock!
ANNA: Yes, I pity the fool who buys our options!
BILL: But we don't own any shares of their stock!
ANNA: Yes, I pity the fool who buys our options!
by Abu Yahya April 5, 2010
Get the write a callmug. foreign direct investment; includes direct capital investment in companies that have not yet issued stock. As opposed to portfolio investment (purchases of traded securities in a firm). Both FDI and portfolio investment refer to capital transfers from country to country.
by abu yahya September 28, 2008
Get the FDImug. Latin, "thus"; used to indicate that an error in the original has been replicated in a quote.
When you're quoting someone else, and the original includes an error (spelling, fact, conception) it may be necessary to assure readers that (a) you noticed the error and (b) it is not yours, but that of the person you're quoting. Since it is a Latin expression, it needs to be italicized, and in the Urban Dictionary this means enclosing it in asterisks.
When you're quoting someone else, and the original includes an error (spelling, fact, conception) it may be necessary to assure readers that (a) you noticed the error and (b) it is not yours, but that of the person you're quoting. Since it is a Latin expression, it needs to be italicized, and in the Urban Dictionary this means enclosing it in asterisks.
His columns are full of brilliant insights such as this one:
"World War II erupted at Munich *sic* in 1941 *sic* because President Roosevelt *sic* was too weak-kneed to stand up to Hilter *sic*."
The man should not be allowed to go about unattended, let alone publish newspaper columns.
"World War II erupted at Munich *sic* in 1941 *sic* because President Roosevelt *sic* was too weak-kneed to stand up to Hilter *sic*."
The man should not be allowed to go about unattended, let alone publish newspaper columns.
by Abu Yahya March 7, 2009
Get the *sic*mug. the amount of goods and services that a country exports, minus the goods and services that it imports *in a calendar year*. In 1999 Japan exported much more than it imported, so it had a trade surplus. The same year, the United States imported more than it exported, and therefore had a large trade deficit.
While Japan had a trade surplus and the USA had a trade deficit, both had something called a trade balance, which was negative for the USA and positive for Japan.
A country can have an overall trade deficit (like the USA in all years since 1980) and still have trade surpluses with individual countries (e.g., the USA occasionally has trade surpluses with Brazil).
While Japan had a trade surplus and the USA had a trade deficit, both had something called a trade balance, which was negative for the USA and positive for Japan.
A country can have an overall trade deficit (like the USA in all years since 1980) and still have trade surpluses with individual countries (e.g., the USA occasionally has trade surpluses with Brazil).
Usually, when a country runs a trade surplus it tends to export the excess foreign currency back to the deficit country as portfolio investment. In this way, the foreign currency retains its value.
by Abu Yahya February 14, 2009
Get the trade surplusmug. (ECONOMICS) international bank created after World War 2 to coordinate currency stabilization. Main policy tool consists of lending money to central bank of countries facing a liquidity crisis.
In some cases, as when a member government is insolvent, the IMF will impose a structural adjustment program (SAP) requiring the government to jettison programs it has to serve the poor. For this reason, the IMF is often harshly criticized.
In some cases, as when a member government is insolvent, the IMF will impose a structural adjustment program (SAP) requiring the government to jettison programs it has to serve the poor. For this reason, the IMF is often harshly criticized.
It is often said that the IMF makes economic crises worse by imposing the same austerity program everywhere, thereby further reducing a member state's ability to pay its sovereign debt.
by Abu Yahya May 5, 2010
Get the IMFmug.