Because during conflict economic policy typically deteriorates.

Yep, that's right.

One blueprint for trouble, making collapse likely, is where there is a conflict of interest between the short term interest of the decision making elites and the long term interest of the society as a whole, especially if the elites are able to insulate themselves from the consequences of their actions.

Many of the people involved have special interests or short term interests that get them not thinking about what the implications of the trends are.

So EBlT, I kind of view that it goes backwards.

Our profit here, if we just take the number that we have here,

And within the last couple of years, it's been obvious that the elite in the business world correctly perceive that they can advance their short term interest by doing things that are good for them but bad for society as a whole, such as draining a few billion dollars out of Enron and other businesses.

We have this principal that we don't touch that produces returns, social, economic and ecological.

A, that there was a long term target for carbon emission cuts,

So while we want to make economic profit for ourselves and our customers, we are willing to do it with a long term view, and we like to have a wider definition of profits than just the economic profit in the next quarter.

Remember, this is the annual interest rate but this is an overnight loan.

The reason this is happening boils down, in my mind, to one basic problem, which is our inability to perceive the difference between public benefits and private profits.

Company A made 1 per share. 1 of EPS.

The management tended to be too concerned about short term improvement of the bottom line to have any long term design for the future.

let's say, let's do the yield curve for treasuries, maybe it looks something like this.

So this right here is a Treasury bond or bill.

And at least it'll give you a sense of how revenues, gross profit, operating profit, pre tax income and net income really are different.

Traditionally, when the fed is more focused on short term interest rates, on overnight borrowing rates between banks, it will use these to buy shorter term debt that increases the amount of currency out there the amount of dollars out there, and so it will

Following a joint statement by Vivendi and electricity giant VFM..

Minus 500,000.

Short Periodic Table

Come back 15 years later.

The company's profits soared.

I'm not interested in material gains.

This is what the owners of the company get before they pay the government.

(Laughter) But I know it's the bottom line, or one's perception of it, that motivates people in the end.

Those who carried on an independence movement in the colony 51 years ago were put on the wanted list for terrorism

But here you see it means very, very different things.

I'm not interested in material gain.

I am not interested in material gain.

Biodiesel and ethanol are made from crops grown by petroleum powered agriculture.

But anyway, here I want to figure out what is my return on asset?

This is really important to pay attention to, because so many people say, oh, a company made this much.

I'll just abbreviate that as Nl.

Go ahead, eat.

And when people talk about earnings of a company, this is what they're talking about.

Money lenders are enjoying a profitable period.

Our interests clash with theirs.

Resident population 562.

For a very short while now.

Net profit for the period is estimated at 5 billion yen, largely unchanged from the previous one.

Well, there are some technologies which obviously combine both.

23,4

So then you're having, you have your net income, your net income during the period.

But the whole point of open market operations is to set this overnight borrowing rate.