Word: majorization
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Since March, the dollar has lost about 15% of its value against the world's other major currencies. That's a dull way to put it, though, so you're more likely to read or hear that the greenback is "wobbling," "slumping," "plunging" or even "collapsing." Marc Faber, a Hong Kong-based investment guru with a flair for the dramatic, went so far as to declare in a TV interview a few weeks ago that the U.S. currency was on its way "to a value of exactly zero...
...chronic deficits during George W. Bush's Administration, even bigger deficits brought on by the financial crisis and President Obama's efforts to stimulate the economy, plus looming shortfalls related to Social Security and Medicare will add up to economy-straining debts a few years from now - barring major changes in fiscal policy or a huge economic boom. (Read "Is the Dollar Dying a Slow Death...
Then there is the creaky contraption that is the global monetary system. Since the early 1970s, the world's major currencies have generally been allowed to float freely against one other, but lots of emerging-market countries link their currencies to the dollar. They began doing this to secure a bit of stability in turbulent currency markets...
...contradiction awakens the first of many mysteries. If Precious likes math, why not open the book? Daniels, his screenwriter Geoffrey Fletcher and Sidibe have made Precious more enigmatic than her literary creator did. Sapphire drops two major bombshells in the book's first sentence, but we're kept mostly in the dark during the film's early scenes. We learn only that Precious is pregnant - for a second time - much to the disgust of her principal, Mrs. Lichenstein (Nealla Gordon), who tosses her out of school. (See pictures of the youngest best actress nominees...
...deflation policy intending that As would make up only 35 percent of the grades given out in each department. However, five years later in the 2008-2009 academic year, As still made up 39.7 percent of all grades—and even this relatively high number was considered a major accomplishment. This situation reflects complications that grade deflation encounters at the individual level. Even if a grade-deflation policy were announced, high-achieving Harvard students would expect the same grades from before the policy shift. This expectation would inevitably fail and lead to disappointment throughout the student body. Lowering students?...