Biography of Noynoy Aquino free essay sample

Biography of Noynoy Aquino Benigno Simeon Noynoy Cojuangco Aquino III (born February 8, 1960) is a Senator of the Philippines and a candidate for President of the Philippines in the 2010 election, as the standard-bearer of the Liberal Party. He is the only son of former President Corazon Aquino and former  Senator Benigno Aquino, Jr. We will write a custom essay sample on Biography of Noynoy Aquino or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page A graduate of Ateneo de Manila University, he was seriously wounded by rebel soldiers in a failed coup attempt during his mothers presidency. In 1989, he was elected to the House of Representatives as Representative of the 2nd district of Tarlac province in the 11th Congress of the Philippines. In 2007, he was elected to the Senate of the 14th Congress of the Philippines. He is also the brother of TV host and actress Kris Aquino. Early life and education Benigno Simeon Noynoy Cojuangco Aquino III was born on February 8, 1960. He is the third of the of five children of Benigno Aquino, Jr. , who was then Vice Governor of Tarlac province, and Corazon Aquino. He has three sisters, Maria Elena (Ballsy), Aurora Corazon (Pinky), Victoria Eliza (Viel), and Kristina Bernadette (Kris). Aquino studied in Ateneo de Manila University for his elementary, high school, and college education, graduating in 1981 with a Bachelor of Arts degree in Economics. After college, he joined his family in Boston in exile. In 1983, shortly after the murder of his father,  Noynoy  had a short tenure as a member of the Philippine Business for Social Progress. From 1985 to 1986, he was retail sales supervisor and youth promotions assistant for Nike Philippines and later an assistant for advertising and promotion for Mondragon Philippines. In 1986, he joined Intra-Strata Assurance Corp. as vice-president of the family-owned corporation. On August 28, 1987, eighteen months into the presidency of Aquinos mother, rebel soldiers led by Gregorio Honasan staged an unsuccessful coup attempt, attempting to siege Malacanang Palace. Aquino  was two blocks from the palace when he came under fire. Three of his four security escorts were killed, and the last was wounded protecting him. Aquino himself was hit by five bullets, one of which is still embedded in his neck. From 1986 to 1993, Aquino was vice president and treasurer for Best Security Agency Corporation, a firm owned by his uncle Antolin Oreta. He went to work for the Central Azucarera de Tarlac in 1993, the sugar refinery owned by the Cojuangco clan. He started out as an executive assistant for administration, before becoming field services manager in 1996. [citation needed] Political life Aquino is a leading member of the Liberal Party. He currently holds the position of Vice Chairman of the Liberal Party, having assumed the post on 17 March 2006. He was previously Secretary General of the party (1999-2002), Vice-President of the Luzon Liberal Party (2002-2004), and Secretary General of the party (2004-16 March 2006). Aquino is associated with a faction of the Liberal Party which opposes the government of President Gloria Macapagal-Arroyo, citing alleged human rights violations. House of Representatives Aquino  was elected to the House of Representatives in 1998, representing the 2nd District of Tarlac. He won re-election in 2001 and 2004, and served until 2007. Aquino served on numerous committees as a member of Congress: the Public Order and Security, Transportation and Communications, Agriculture, Banks amp;and Financial Intermediaries, Peoples’ Participation, Suffrage and Electoral Reforms, Appropriations, Natural Resources, and Trade and Industry committees (11th Congress), the Civil, Political and Human Rights, Good Government, Public Order and Security, Inter-Parliamentary Relations and Diplomacy committees (12th Congress), and the Banks and Financial Intermediaries, Energy, Export Promotion, Public Order and Safety committees (13th Congress). Aquino was also Deputy Speaker from November 8, 2004 to February 21, 2006. Senate Barred by term limits from seeking a fourth term as the Representative for the second district of Tarlac province, Aquino was elected to the Senate in the May 14, 2007 midterm elections under the banner of the Genuine Opposition (GO), a coalition comprising a number of parties, including his own Liberal Party, seeking to curb attempts by President Gloria Macapagal-Arroyo to amend the Constitution. In his political ads, he was endorsed by younger sister, TV host Kris Aquino, and mother, the late former President Corazon Aquino. Although a devout Roman Catholic, he was endorsed by one of the largest Protestant churches in the Philippines, the Jesus is Lord. With more than 14. 3 million votes, Aquinos tally was the sixth highest of the 37 candidates for the 12 vacant seats elected from the nation at large. He assumed his new office on June 30, 2007. During the campaign, Aquino reached out to his former enemy, Senator Gregorio Honasan, supporting his application for bail. I endorse Honasans request for bail para parehas ang laban. I was hit by bullets from Honasans men in the neck and hips but thats past now. The principle of my father was, Respect the rights even of your enemies. Ito ang nagpatingkad ng demokrasya. Genuine reconciliation is democracy in action, Aquino told Job Tabada of Cebu Daily News on 5 March 2007. He was referring to two bloody coup attempts against his mother in 1987 and 1989, in the first of which Aquino was seriously injured. 2010 presidential campaign In the Liberal Party, Aquino has held various positions such as Secretary General and Vice President for Luzon. He is currently the LP Vice-Chairman. After the death of President Corazon Aquino, calls for him to run for higher office reached its highest and he has decided after the retreat that he would run as a candidate for the Presidency in the 2010 National Elections. A group of lawyers and activists formed the NAPM — the Noynoy Aquino for President Movement — and a nationwide campaign led by the son of the late influential businessman, Chino Roces, began to collect a million signatures in order to persuade Aquino to run for President. In the last weekend of August, Senator Aquino and his fellow partymate in the Liberal Party, Senator Mar Roxas and an unnamed presidential aspirant commenced days of talks to decide what to do for next years elections. On September 1, 2009, in a press conference at the Club Filipino in Greenhills, San Juan City, Senator Roxas, a leading candidate for the Liberal Party nomination announced his withdrawal in the presidential race and expressed his support for Aquinos candidacy. Sen. Aquino later stood side by side Sen. Roxas, but did not make a public statement on the said press conference. On September 9, 2009, 40 days after the death of his mother, Aquino officially announced his bid for the Presidency in a press conference at the Club Filipino in Greenhills, San Juan City, which also served as the site of his mothers Presidential Inauguration in February 1986. Criticism While Aquino currently enjoys considerable support, those who stand to lose from his victory in the presidential race claim that this can only be attributed to both his parents successes and not his own. However, months after the death of his mother, his popularity remains strong and analysts say that his lead is a sure sign of victory, unless he is cheated or blunders heavily. In 11 years in government, critics have said that Aquino has not made any significant contributions to legislation. But various documents have been released showing that he has accomplished much in his three years in the Senate. On a similar note,  Noynoys detractors have also pointed out that, at almost 50 years old he has neither a wife nor any children . Aquino had lived with his mother, the former president, until her death, and has said if he becomes president, he would choose to live in his modest ancestral home than in the presidential palace. Another issue is  Noynoys stake in his familys 7,500 hectare estate, Hacienda Luisita. His mother, the former president Corazon Aquino, was also criticized on these grounds, especially in failing to push for land redistribution reforms given their alleged conflict of interest. But the stock distribution option was ratified three times by a referanda by the farmer beneficiaries. In 2004, a clash with government troops and farms led to the massacre of 12 picketing farmers and 2 children and the injury of hundreds of other protesters. Aquinos side of the family, which owns a miniscule percentage, have met to deliberate how to turn over the land to farmers fairly while giving the farmers job security at such a timeframe that the farmers will not absorb the lands many debts. Personal life Aquino is a shooting and billiards enthusiast[14] He is also an audiophile, and enjoys listening to jazz, bossa nova, and OPM (Original Pilipino Music). One of Noynoys favorite Filipino artists is singer/composer Noel Cabangon. REFERENCE- http://www. noynoy-aquino. com/about. htm

The essay of life Essay Example

The essay of life Essay Example The essay of life Essay The essay of life Essay I make sure that I always use a dictionary as a reference and that makes It easier to proceed to the next sentence. In addition to that, I write down the Important events and highlight the words and characters. I also proofread my paper to ensure it is error free. In order to write a good essay or paper, it is necessary to be in a peaceful environment to avoid distractions. Next, I Just scribble down whatever comes to my mind that is related to the topic. After a while, I would read what Eve written and hose the Ideas that would have good points and would be Interesting to write about. Then, I would make my first draft and after finishing It, Id read It all over again and do the editing until Im satisfied with what Eve written. One of my greatest strengths as a writer is that I am extremely careful concerning details and I always show great attention them. However, being carried away by my emotions is one of my weaknesses. In order to help me understand and remember what I read, I make sure that I always use a dictionary as a reference and that makes it easier to proceed to he next sentence. In addition to that, I write down the important events and highlight the words and characters. I also proofread my paper to ensure It Is error free. Choose the Ideas that would have good points and would be interesting to write choose the ideas that would have good points and would be interesting to write and do the tattled until Im satisfied with what Eve written. One of my greatest about. Then, I would make my first draft and after finishing it, Id read it all over again highlight the words and characters. I also proofread my paper to ensure it is error weaknesses.

Analyze a current or past relationship and create a strategy for Essay

Analyze a current or past relationship and create a strategy for managing it - Essay Example Losing contact with each other, we both had strings of relationships until both of us had our families. Both of us had only one child out of our own marriages and both of us got divorced from our spouses. Twenty years later, Andy came back to visit me at my mom’s house. He just took a chance if I was there, and was surprised when I was, as I was also visiting her. It was a pleasant surprise for both of us. At first, it was awkward seeing your first love two decades later when a whole lifetime has passed in between. We caught up with each other’s lives, but did not have enough time, since he was flying back to Australia the following day. A week later, I found a friend request on Facebook from Andy which I happily accepted. Since that time, we have spent much time chatting with each other, and even tried video-chatting a few times. Over time, we realized we were still in love with each other after all these years. Although we did not officially declare that we are once a gain a couple, we treat each other as if we are. I cannot fully commit to him because I did not really believe in long distance relationships, and somehow, had doubts as to his relationship history, since he has shared that he’s been into several relationships after his divorce. I, myself, have not gone dating after my divorce, so I had several qualms about getting into a serious relationship at this point in my life. Meanwhile, I decided to enjoy what Andy and I currently have, without the complications of commitment. It is what is known in social networking sites as a relationship status of â€Å"It’s Complicated†. Attraction Our initial attraction to each other was physical. Andy was a very handsome teenager, and was quite popular with the girls. On the other hand, I did not look bad myself, being a cheerleader and a prom queen contender. Knowing each other well as we dated exclusively in our teens, the attraction went beyond the surface. I discovered that he had a kind heart which was compassionate to others in need. He was a very good son and brother and to top it all, he had a sense of humor that complemented mine. I admired his drive and ambition to be successful, and envied his focus and persistence in his studies. I was sure that he was a great catch and would be an ideal husband and father as well as a successful professional in the future. Andy admitted that he fell in love with my feminine ways and the way I treated my family and friends. He felt very protective over me because I was so naive. He liked the fact that I was very down-to-earth and did not waste my time on shallow things such as fashion, make-up and boys. He loved my simplicity and the fact that I was a homebody, very skilled in cooking and home design and organization. He also thought I would make the perfect wife and mother someday. Our short term and long-term attraction factors for each other may be explained theoretically. Matlin (2008) explains gender differe nces in attraction partner as based on an evolutionary psychology approach. According to this approach, people’s preferences have roots in evolution where men prefer young, attractive, healthy-looking women who are likely to pass on men’s genes to the next generation. On the other hand, women are drawn to men who are economically stable to ensure that their future children are well provided for (Matlin, 2008). Women were also found to value a partner’s ambition, industriousness and social dominance as well as emotional

National Advocacy Paper (political science) 2 Research

National Advocacy (political science) 2 - Research Paper Example Viral videos of anti-Muslim demonstrations race across social networks daily. Islamophobia started in earnest on September 11, 2001 for reasons that are all too clear. This condition is a reactionary response instigated and perpetuated by fear of the unknown and unfamiliar. The level of outwardly expressed hatred ebbs and flows with the day’s newscast but the underlying causes and effects remain constant. It is a shameful and unnecessary circumstance reminiscent of racial segregation battles of the South and anti-immigrant rhetoric that has persisted throughout the nation’s history. Fortunately, technology is working in favor of reasonable thought and rational behavior. Social networking has enabled the world’s neighborhood to grow smaller and more familiar. We are entering an era of understanding between cultures therefore a lessening of ignorance and its byproduct, angry hate-filled speech aimed at disrespecting those of a different personal history. The argume nt for the critics of anything Islamic usually centers around terrorist actions, that Muslims commit more acts of terrorism than any other religious group therefore Islam is a war-like religion that does not respect life. In addition, many countries with a large Muslim population are theocracies, Islamic States, such as Saudi Arabia, Somalia, Pakistan and Iran. This is unacceptable to many Americans who could not imagine living under a theocratic regime, who consider this way of life medieval in nature, backward and harsh. Of course if many of these same people had their way, the U.S. would officially become a Christian nation. Most, 55 percent, (Stone, 2007) still cannot admit the U.S. is a secular nation with a comparatively liberal democratic government and would argue, erroneously, that the Founding Fathers meant for the country to be a Christian nation. It’s likely that those who are not aware of the Founder’s intent do not bother to investigate anything pertainin g to the Islamic religion or Muslim culture so as to understand rather than fear it. The controversy surrounding the mosque near ‘ground zero’ was and is baseless. The plans were to expand the existing Islamic community center (Park 51) that already housed a mosque. Another mosque is located just down the street. The area is dotted with porn shops, bars and ‘gentlemen’s clubs’ but no one claimed any of these potentially offensive business establishments would tarnish the memory of those Americans who died in the twin tower attack. The controversy was contrived and born purely out of fear, hatred and willful misunderstanding. â€Å"The site has been the scene of frequent demonstrations in which protesters carry signs saying such things as ‘All I Need to Know about Islam, I Learned on 9/11’" (Nachtwey, 2010). The community center is located in a building not unlike the others that surround it, plain and with no visible markings to indicat e is a religious institution. It is not an imposing edifice complete with colorful, spiraling towers one might picture when imagining a traditional Middle Eastern mosque. The outrage is disingenuous and not about the mosque itself or the pain it might cause the families of people who died on 9-11, which included Muslims as well. This false outrage is a by-product of ignorance, fear and bigotry. â€Å"

Fist Pumping Their Way To The Top Essay Example for Free

Fist Pumping Their Way To The Top Essay â€Å"Gym, Tanning, Laundry†, these three words have become increasingly popular among teenagers because of MTV’s hit reality television show, Jersey Shore. Television shows and their stars can become very influential to many of their viewers. Many of these viewers strive to be like these stars and mimic their style and attitude, in hopes of living the same careless lifestyle that has made these stars known around the world. Unfortunately, these television shows don’t always portray certain aspects of life realistically, and therefore send a false message that can be very deceiving. Studies show that television shows tend to follow several popular trends that do indeed portray the wrong reality. Harry F. Water’s article, â€Å"Life According to TV†, analyzes the different trends that television shows and movies in popular culture tend to follow. Harry Water’s focuses on George Gerbner’s research on the scientific examination of television far beyond familiar children-and-violence arguments. He describes television’s reality warp dealing with sex, age, race, work, health and crime. Water’s states in his article, â€Å"People over 65, too, are grossly underrepresented on television. Correspondingly, heavy-viewing Annenberg respondents believe that the elderly are a vanishing breed and that they make up a smaller proportion of the population today than they did 20 years ago. In fact, they form the nations most rapidly expanding age group† (Waters, 1982). Jersey Shore is a reality television show similar to that of â€Å"The Real World† and markets binge drinking, partying, fake tanning, and sleeping all day. It seems that the drama-driven cast seems to be promoting a careless way of life, and in fact might be rubbing off on its viewers. Elderly people are rarely seen on the show, and the stars are constantly shown going out with other young people, and going to bars and clubs that consist of other people around their age group. Even though some of the stars on the show are in their 30’s, they still live a constant partying lifestyle and act as though they are still young and essentially do not have to grow up yet. Teenagers watching this show can see this lifestyle as normal and strive to live their life the same way. The stars in the show live in a nice house and are constantly spending money, even though they only work at a pizza, ice cream and t-shirt company. In reality, these types of jobs would not cover the type of expenses these lifestyles come with. This lifestyle is extremely glamorized and in reality, someone living the same lifestyle as these stars would not be living nearly as luxuriously as they do, due to the success rate they have gained from the show. Many of these stars are on the front of magazines and all over different television talk shows because their show has become so successful and is increasing in fans. Some worry that viewers might have more motivation to be like these casts members and partake in inappropriate activities in hopes that they too will get famous. David Showalter a columnist for New Jersey newsroom says that, â€Å"MTVs Jersey Shore success is a cultural phenomenon† (Showalter, 2011), and for the most part he is absolutely correct. Jersey Shore has been a huge success, but for what? Partying? Another aspect of life that television shows often times portray unrealistically is health. Water’s states in his article, â€Å"Although video characters exist almost entirely on junk food and quaff alcohol 15 times more often than water, they manage to remain slim, healthy and beautiful.† Jersey Shore is centered almost entirely on partying and living that partying lifestyle- partying all night and recovering for half of the next day in order to be ready to do it again. However, the majority of the cast appears to be extremely well fit. This can confuse viewers because constant partying and binge drinking daily can be extremely harmful to one’s health. Even though going to the gym is part of these cast members daily routine, it does not make up for their excessive partying and will eventually catch up to them, when the viewers are no longer watching. These stars go out almost every night and are constantly shown belligerent to the point where they can’t walk and are starting fights in clubs and other public places, and for some reason young teenagers are seeing this as something cool to participate in. In an interview by Steven Guarino, he states, â€Å"Alcoholism is promoted on the Jersey Shore so much that it could influence younger viewers to drink irresponsibly.† The motive and center of the show is clearly the stars ongoing party lifestyle and their crazy drunken endeavors. The Situation, one of the cast members, has even stated in the first season on the first episode, â€Å"You can hate on me all you want to, but what can you possibly say to somebody that looks like Rambo, pretty much, with his shirt off.† Therefore, although the stars are constantly drinking and eating poorly, they still remain slim and good-looking, when in reality most people would be looking the complete opposite. Walter’s article also states, â€Å"Frequent TV watchers, the Annenberg investigators found, eat more, drink more, exercise less and possess an almost mystical faith in the curative powers of medical science.† When watching television shows, sometimes we get hooked and start to believe and agree with these stars way of life, not noticing the reality of it and allowing ourselves to get sucked into popular culture. Tanning is another major part of the popular Jersey Shore lifestyle. As we know, fake tanning can be very harmful to our skin, and cause skin cancer. However, the Jersey Shore characters act as if it is a way of life. Waters also states in his article, Television may well be the single most pervasive source of health information. And it’s over idealized images of medical people, coupled with its complacency about unhealthy life-styles, leaves both patients and doctors vulnerable to disappointment, frustration and even litigation (Waters, 1982). Despite what children have heard from their parents or other people, the un-healthy diets they see on television can appear healthy to them because they seem to be working for these reality TV stars and consequently can end up being more influential than what they’ve heard. Snooki, one of the show’s main characters, recently said on a Jay Leno show, that shed like to change the world by installing cancer-causing tanning beds in everybodys homes.† Every member on the show tans in a tanning bed daily as a consistent part of their daily lives, and considers being tan as one of the main things one must do in order to be good looking. The cast members are very forward about this and seem to see nothing wrong with it. The Situation states in the second episode of the first season, â€Å"I wait till the last minute to shave, I wait till the last minute to put my shirt on ‘cause you feel fresh. These are rules to live by, shave last minute, haircut the day-of, maybe some tanning and the gym. You gotta do the guido handbook.† These quotes seem to be aiming towards the casts members’ hopes to influence viewers to live these similar lifestyles and to shoot to look like them, even if it’s not what’s best for the viewers’ health and unfortunately television shows continue to influence people in the wrong way. Although Jersey Shore seems to capture every negative aspect of reality television and continues to be unrealistic, it somehow remains the most viewed series on MTV. The third season finale delivered 4.8 million viewers; almost triple the audience who watched the season premiere on December 3 (Martin). It is clear that the Jersey Shore phenomenon is continuing to grow and become more widespread than ever before. This can be very troubling to parents and the messages being sent to young teenagers is influencing them in a very negative way, while showing them unrealistic â€Å"reality television†. With popular culture becoming more and more deceiving, viewers can forget to question who they are really taking after.

Do I Look Fat? Essay -- essays research papers fc

Do I Look Fat? How many calories does it have? I can’t eat that it’s too fattening. Do I look fat? I wish I had her body. How many times can we listen to woman say the same thing over and over again? How many times can we (as women) think these things about ourselves? It is words and phrases like these that seem to plague the minds of over 7 million women across the United States (Eating Disorders in the USA). Why is it that so many woman have such a preoccupation with the way their body’s look? Why is it that the shape of a woman’s body determines how her high self- esteem is? These are questions that have been with out answers for many years. This in not the way it should be, but this is how it is. So many woman are concerned with they way they look. So concerned, that it often begins to interfere with their physical and mental health, causing them to develop sever eating disorders. Why is it like this, and who or what is to blame? This is where the controversies start . There is overwhelming evidence and many reasons to believe that â€Å"today’s society† is the one to blame in this case. Sadly enough, women are given the message that in order to obtain happiness and success, they must have the perfect body. Growing older in today's society is much different for women than it is for men. If a man's body changes or his hair starts to turn gray, he is considered to be "distinguished". If a woman's body changes and her hair starts to turn gray, she is considered to be "letting herself go". Eating disorders often become a woman's way of escaping the daily pressures of life. In turn, woman begin to feel guilty for eating, because of the pressures that society has bestowed upon them (Psychiatric Times, 1999) Many people are under the impression that eating disorders only affect teenage girls. Unfortunately, more and more women are developing eating disorders well into their twenties, thirties, forties, and beyond. The onset of such eating disorders like anorexia, bulimia, and compulsive eating can occur at any time in a person's life (National Association). There are no biological causes for these disorders, however there are many aspects of society that seem to have strong influences on women who develop eating disorders. The media is high on the list as being one of the negative influences on women, and may be one of the main reasons why wom... ...reat deal of pressure to be thin which is why so many develop some kind of eating disorder. Women need to take a stand and stop trying to live up to the standards that society has set. For starters, women need to stop buying fashion magazines and diet products. Most importantly, women need to remember that weight is nothing but a number, and has absolutely nothing to do with intellectual ability. So, to all the woman out there who have ever had any doubt about there inner beauty (or outer beauty) I say this- â€Å"There nothing wrong with wanting to be healthy and wanting to feel good, but we are going to be running this country some day, and we can’t let not let the shape of our body get in the way of the wonderful things we can do.† Women need to live their lives, happy, healthy, and confident. Hopefully, society will soon realize how truly amazing women really are. Works Cited Eating Disorders in the USA, http://www.edap.org/edinfo/stats.html Miller, M.D., Merry N., and Pumariega, M.D. Andrà ©s. â€Å"Culture and Eating Disorders.† Psychiatric Times February 1999, Vol. XVI, Issue 2 National Association of Anorexia Nervosa and Associated Disorders, http://www.anad.org/facts.htm.

Economics Exchange Rates Commentary Essay

NEW YORK (Dow Jones)–The dollar continued its slide Wednesday, touching its lowest level in 12 months against the euro and flagging against the yen as rising equities battered the greenback yet again. The dollar has lost key legs of support over the past two weeks as encouraging global economic data has led investors to assume more risk and buy higher-yielding assets. With the recession receding and financial markets in recovery, investors have become more confident there’s no longer a need to hold their money in a safe-harbor currency like the dollar. Because of the Federal Reserve’s need to stimulate the economy, the dollar’s ultra-low interest rates have made it the lowest-yielding major currency. The cost of borrowing U.S. dollars in the London interbank market continued its slide Wednesday. The key three-month London interbank offered rate marked its lowest level since the British Bankers’ Association first introduced its Libor fixings in 1986. The dollar hit its lowest level against the common currency since September 2008 in New York afternoon trading, with the euro touching a 12-month high at $1.4738. If the euro is able to sustain levels above $1.4720, a key technical level, it could be on a march to $1.50, said Carl Forcheski, vice president for foreign exchange at Societe Generale in New York. The dollar’s losses were broad, sinking to new 13-month lows against the Australian and New Zealand dollars as well as lows for 2009 versus other widely traded counterparts. The U.K. pound also piggy-backed off the euro’s gains to advance on the dollar. The yen had been the so-called â€Å"carry trade† currency of choice, but with U.S. interest rates expected to remain feeble until 2010, analysts anticipate the dollar to continue funding riskier bets. A carry trade involves buying a lower-yielding currency to fund purchases of higher-yielding assets. The dollar was also burdened Wednesday by comments from Japan’s incoming finance minister, Hirohisa Fujii, who said he saw no need to intervene in currency markets to weaken the yen. In the past, the dollar had received support from the belief that Japan would intervene to prevent unwanted appreciation of its currency. â€Å"There’s no change in my thinking† that it’s not the time to consider foreign-exchange intervention, Fujii said at a news conference. Though he wouldn’t rule out intervention in what he termed â€Å"really abnormal situations,† Fujii said â€Å"the idea that the yen should be cheaper for the sake of [Japan’s] exporters is wrong.† Wednesday afternoon in New York, the euro was at $1.4729 from $1.4667 late Tuesday, according to EBS via CQG. The dollar was at Y90.78 from Y91.06. The euro was at Y133.72 from Y133.60. The U.K. pound was at $1.6506 from $1.6495, while the dollar was at CHF1.0306 from CHF1.0340. U.S. economic data released Wednesday, including as-expected August consumer price index and better-than-expected industrial production numbers, pointed to a continuing recovery, leading stocks to rally. The Dow Jones Industrial Average rose 108 points, lending support to the euro and other high-yielders. The dollar looks likely to continue its broad-based slide through the rest of the year, analysts said. As long as the buck doesn’t fall too far too fast, dollar weakness is expected in a time of loose monetary policy, said Adnan Akant, a currency specialist at money manager Fischer Francis Trees & Watts, a New York unit of BNP Paribas. Right now, the euro and other higher-yielding currencies are reaping the benefits of a global economic turnaround and stock market rallies, but within the next 12 months, the dollar should start benefitting from a recovering U.S. economy, said Wells Fargo analysts. The Canadian dollar ended higher near its strongest levels of the day Wednesday, reflecting another sustained flight into riskier assets like stocks and commodities at the expense of the slumping U.S. dollar. The U.S. dollar was trading at C$1.0666 late afternoon, from C$1.0721 late Tuesday. Strong gains for oil, gold and other commodities as well as rising North American equity markets underpinned the Canadian dollar’s gains, although the currency again failed to mount a serious challenge of its year-to-date high at C$1.0639, achieved in early August. Commentary The article refers to a depreciation of the dollar against major currencies due to â€Å"ultra-low interest rates† and increased risk by investors. The Federal Reserve has been cutting interest rates in an attempt to boost aggregate demand and stimulate the economy. High interest rates in an economy generally encourage investment in that currency as the value of the investment will increase over time. Currently US interest rates set by the Federal Reserve are around 0.25% compared to the European Central Bank’s 1%. Because of this, investors have switched to higher yielding currencies, such as the Euro, and to a lesser extent the Pound, causing a fall in the Dollar’s exchange rate. This is shown in Diagram 1. As the diagram shows, a right shift in the supply of the Dollar leads to a fall in its price relative to the Euro. In addition, the aforementioned cutting of interest rates is an expansionary monetary policy used to manipulate aggregate demand. The trade off of this policy is increased inflation. A high rate of inflation might further decrease investment in Dollar assets as the real value of the investment would decrease over time. During times of economic crisis, investors tend to invest in low risk assets such as generally strong currencies like the dollar. However with signs that the global economy is exiting the recession and in recovery, not only does the demand for safe-harbor currencies like the dollar decrease, but there is an increased demand for high risk investment due to bullish speculation. In addition, some consumers, firms, or foreign central banks might believe that despite the improving economic situation, the Dollar will continue to fall as the article mentions and sell dollar assets. This bearish speculation would further increase the supply of the dollar and perhaps lead to self-fulfilling prophecy. As shown above, the combination of the three factors leads to a sharp fall in the exchange rate. As previously mentioned, this depreciation could cause a self-fulfilling prophecy in which the initial bearish speculation leads to depreciation, which in turn causes more bearish speculation causing the exchange rate to enter a downward spiral. Initially, the Federal Reserve might not intervene but if the depreciation continued, it would be forced to buy back Dollars to counteract the increases in supply. This would slow the depreciation, discouraging people from selling dollars. It might even create bearish speculation as some might assume the dollar market will bottom out and start to appreciate. The depreciation of the Dollar should benefit the US economy by means of an improved current account deficit. Initially, the deficit will worsen as the demand for imports and exports is inelastic in the short run, but eventually the current account balance will improve as US exports become more competitive. US export revenue will increase while expenditure will fall. This improved current account situation will boost AD leading to economic growth. This is shown below in Diagram 3. Diagram 3 However, as the diagram shows, in the long run, there will be the trade off of inflation as AD rises. This might encourage Federal Reserve to strengthen the Dollar to reduce imported cost-push inflation. In addition, the increased demand for US exports will increase the demand for the Dollar causing appreciation. Foreign nations might eventually implement import controls such as tariffs on US goods in order to preserve their own current account balances. Eventually, the Dollar should regain its status as a high-yielding currency ——————————————– [ 1 ]. The value of one currency expressed in term of another [ 2 ]. A period in a business cycle following a recession, during which the GDP rises. [ 3]. Believing that a particular security, a sector, or the overall market is about to rise [ 4 ]. Revenue from the exports of goods and services and income flows is less than the expenditure on the import of goods and services and income flows in a given year