Debt

A debt generally refers to something owed by one party, the borrower or debtor, to a second party, the lender or creditor. The lender or creditor can be a bank, credit card company, payday loan provider, or an individual. One country can also lend money to another country. Debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. The term can also be used metaphorically to cover moral obligations and other interactions not based on economic value. For example, in Western cultures, a person who has been helped by a second person is sometimes said to owe a "debt of gratitude" to the second person.

Terms

Interest

Interest is the fee charged by the creditor to the debtor. Interest is generally calculated as a percentage of the principal sum per year, which percentage is known as an interest rate, and is generally paid periodically at intervals, such as monthly or semi-annually.

Many conventions on how interest is calculated exist – see day count convention for some – while a standard convention is the annual percentage rate (APR), widely used and required by regulation in the United States and United Kingdom, though there are different forms of APR.

Debt (game show)

Debt is an American game show hosted by Wink Martindale which aired on Lifetime from June 3, 1996 to August 14, 1998. The show featured contestants who were trying to earn money to get out of debt.

Personnel

The game was conceived by Sarah Jane West. Its host was Wink Martindale, and Kurt Engstrom was featured as an assistant playing the role of a security guard. Julie Claire was the show's announcer.

Gameplay

Three contestants are introduced with the amount of debt they have (usually between $6,000 and $10,000) and the reasons why. After introductions, the debt of the three contestants was averaged to level the playing field. The scores were shown in negative amounts to reflect the debt of each contestant.

Round 1 (General Debt)

In the first round, contestants faced a gameboard with five categories, each with five questions in negative dollar values ranging from −$50 to −$250, in increments of $50. The first selection went to the contestant who had the lowest debt before averaging the scores. On a contestant's turn, he or she chose a category and value, after which a "Who am I?"-type question was revealed (e.g., "I'm the name of the fictitious, mustachioed 'ranking officer' who hawks the Quaker Oats cereal Peanut Butter Crunch."). Contestants buzzed-in to answer and were required to phrase their response as "You are..." to receive credit (although the contraction "You're" also was accepted). The correct answer to the example is "You are Cap'n Crunch." A correct answer deducted the question's value from the contestant's debt. A wrong answer or failing to respond within the time frame added the value, increasing the contestant's debt.

Debt (disambiguation)

A debt is that which one party owes to a second party.

Debt or The Debt may also refer to:

Books

Film

Television

See also

Crisis

A crisis (from the Greek κρίσις - krisis; plural: "crises"; adjectival form: "critical") is any event that is, or is expected to lead to, an unstable and dangerous situation affecting an individual, group, community, or whole society. Crises are deemed to be negative changes in the security, economic, political, societal, or environmental affairs, especially when they occur abruptly, with little or no warning. More loosely, it is a term meaning "a testing time" or an "emergency event".

Definition

Crisis is the situation of a complex system (family, economy, society) when the system functions poorly, an immediate decision is necessary, but the causes of the dysfunction are not known.

Crises (Mike Oldfield album)

Crises is the eighth record album by Mike Oldfield, released in 1983 on Virgin Records. Oldfield's well known hits "Moonlight Shadow" and "Shadow on the Wall" appear on the album.

Album analysis

The title track of the album is a twenty-minute-long piece, featuring a small amount of vocals, sung by Oldfield. The beginning and end of the track are driven by a synthesised lead passage, stylistically similar to the opening theme to Oldfield's Tubular Bells.

The album also features the massive hit "Moonlight Shadow", sung by Maggie Reilly, who also sang and co-wrote "Foreign Affair". "In High Places" has lyrics by Mike Oldfield and Jon Anderson. "Shadow on the Wall" has vocals by Roger Chapman. The album includes "Taurus 3", a short fast-paced guitar piece unlike the previous two long multi-themed "Taurus" tracks featured on QE2 and Five Miles Out respectively.

Oldfield toured the album between May and July 1983 throughout Europe.

Recording details

The album was recorded between November 1982 and April 1983 using an Ampex ATR 124 tape recorder, a Neve 8108 with Necam console, and Westlake Monitors, in Denham, England. Oldfield used a Gibson SG Junior for overdriven guitar sounds and a Fender Stratocaster for clean sounds. Tama Drums were Simon Phillips' brand of choice for drums on the album; Phillips also did some production work. Oldfield makes extensive use of Oberheim and Fairlight keyboards.

Financial crisis

The term financial crisis is applied broadly to a variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in changes in the real economy.

Many economists have offered theories about how financial crises develop and how they could be prevented. There is no consensus, however, and financial crises continue to occur from time to time.

Types

Banking crisis

When a bank suffers a sudden rush of withdrawals by depositors, this is called a bank run. Since banks lend out most of the cash they receive in deposits (see fractional-reserve banking), it is difficult for them to quickly pay back all deposits if these are suddenly demanded, so a run renders the bank insolvent, causing customers to lose their deposits, to the extent that they are not covered by deposit insurance. An event in which bank runs are widespread is called a systemic banking crisis or banking panic.