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Keeping up with science

Keeping up with the speed of science gets more difficult every day. We live in the Science Age, an era in the history of the earth when a dramatic new development takes place every day.

Pay day loans, also called cash advance loans are little, short term loans issued so the borrower might meet their financial commitments till their next check comes. Sometimes called cash advance or quick cash loans, pay-day loans are offered by speciality loan corporations and have a tendency to carry rates that are significantly higher than those provided from banks and other more standard banks. In contrast to standard patron loans, that may be for thousands of greenbacks and are designed to be repaid over a span of years, pay-day loans are offered for reasonably small quantities of money ( $100-$1500, according to state laws ) and are routinely planned to be repaid inside 14 days. The loans are often supplied with the minimum of forms ; many banks just require that the client be employed and he or she have a bank checking account. When the loan is taken out, the borrower shows evidence of both work and a bank checking account, and writes a post-dated check for the principal of the loan with the increased interest. In 2 weeks ' time, the client is predicted to reimburse the borrowed funds, with interest. If the client doesn't seem to pay back the loan, the money establishment cashes the check. If the consumer can't pay back the loan, most states enable the borrower to "roll over" the loan ; that is, to resume the loan for another 14 days. At the end of the second 2 week period, borrowers often finish up in a "cycle of debt" where the consumer then owes the principal and a month ' interest. One or two states don't permit rolling over of fast cash loans; others place a cap on how many occasions a loan could be rolled over. Pay-day loan banks sometimes come under feedback thanks to the IRs that they apply to their loans, that may frequently mount up to one or two hundred p.c if considered a yearly IR. A normal loan of $100 may actually carry a charge of $15 over a two-week period. When viewed as an once a year interest rate, this boils down to nearly 400 % a year.

Some days it is a new medicine, the result of months or years of painstaking research in a laboratory, either by a lone genius or by a team of scientists working in collaboration with others.  

Banks back up these rates, asserting that there's a high default rate that must definitely be paid by other consumers. They also say the lower rates offered by banks couldn't be successful over such short lending examples. One or two states have firm usury laws ; cash advance banks in those states often by-pass them by giving the loans thru banks in states which permit higher IRs. Similarly , critics of pay day loans say the stores that provide them are usually clustered in poor communities and whose residents regularly take out a fresh cash advance loan as a method to pay back a current one. One or two states now constrain this practice and maintain databases of who has exceptional loans at any particular time. Debtors who are in the database must pay back their current liabilities before signing up for a new loan. Pay day loans do fill a patron need that banks don't, but people should remember that cash advances are designed to be transient answers to short term personal monetary issues. Any individual who has finance problems on a repeating basis should search for other answers to their problems.

The results are seen all around us – the rise in life expectancies, the number of new medicines available, advances in transplants and surgical procedures and new developments in health and wellness.     

On other days, the invention or discovery is in the communication sciences, perhaps the greatest advance of the last 20 years, which involve microchips and new methods of making contact through the air, via satellite or under the oceans. This results in new cellphones, new voice protocols or smart-phones which are more like powerful hand-held computers with built-in phones. 

Silicon-based electronics have been the mainstay of the electronics industry for several decades, driving technological breakthroughs that affect virtually all aspects of everyday life. Devices have gotten smaller, faster, more efficient, more powerful, and cheaper. The small laptop computers store ever-increasing amounts of data and we, the users, scratch our heads and wonder what we are going to do with all the information pouring into our minds day after day. 

Feats of engineering continue to amaze and startle us and we wonder how some of the new structures can actually stand up. The latest skyscraper, the Burj Khalifa in Dubai, rises 2,000 feet above the ground, a marvel of engineering and construction science. Not many years ago such a project was impossibility. 

Today our scientists are working on new fuels, alternative ways of generating energy, ways of coping with water shortages and the possibilities of controlling the weather, earthquakes and other natural events. Two headlines from this week’s Science Reporter give one a clue as to what’s going on: “Scientists are scrambling to develop substitutes for scarce elements critical to industry,” and “Long prized for their optical properties, nitrogen-based semiconductors may take electronic devices into realms where silicon cannot tread.”   

The food scientists are kept busy coping with droughts and floods which ruin crops. New foods are developed to cope with the vagaries of the world’s economy.  One billion poor people live with chronic undernourishment and scientists are working to come up with affordable new foods. The money required for this has come from a number of sources including governments, NGO's, private enterprise and charities.  

Every new scientific step forward results in new ideas and new challenges for tomorrow’s scientists.