Word: leveller
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...company betting on a yen reversal may have a long wait. Tohru Sasaki, chief currency strategist in Tokyo at JPMorgan Chase & Co., believes the dollar-yen exchange is reaching a sustainable average. "The yen's level until last year was abnormally weak. Now it's coming back to normal," he says. Compared to the mid-1990s, he says, the strong yen's negative impact on the Japanese economy is "not that large." To have the same effect as the postwar peak in 1995, the exchange rate would have to reach 48 yen to the dollar, he says, because...
Satoru Ogasawara, economist for Credit Suisse in Tokyo who covers foreign exchange, expects the yen to advance to 85 to the dollar within three months and to 83 over the next year. Intervention, he says, will come at the 85-level, but even then it is difficult to predict what will happen. "What we're seeing is the unwinding of the yen carry trade," says JPMorgan Chase's Sasaki, referring to the practice of buying low-interest yen and investing it in high-yield currencies. "It's a very strong and powerful movement and it's difficult to stop...
...results: In Burger's experiment, 70% of participants were willing to proceed past the maximum 150-volt jolt level; in the corresponding Milgram experiment, 83% continued. The variance, Burger explains, is not statistically significant...
...popular theory argues that the care and feeding of the right is a way to build cover for a progressive agenda. That may be true. Obama has enunciated some liberal foreign and domestic policy ideas, such as open-ended high-level talks with Iran, a rapid combat troop pull-out from Iraq and a possibly trillion dollar stimulus plan for the flagging economy: if he plans to roll them out soon, he might hope that one or two of his putative "advisers" will support him, or at least hold off on their attacks, because of his outreach...
...Post reporters, and his role was critical to the Post's willingness to print incendiary stories about the scandal. As the Post printed scoop after scoop about the scandal, the Nixon White House ratcheted up its threats against the newspaper and its television stations. The fact that a high-level official of the FBI was confirming the stories emboldened the paper's owner Katharine Graham to resist those threats. Felt's motives for helping Woodward (whom Felt had met in the Nixon White House when Woodward was a young Navy lieutenant carrying classified documents between the Pentagon and the National...