Exchange Rate Risk in the UAE Essay Example | Topics and Well Written Essays - 5000 words

Exchange Rate Risk in the UAE - Essay Example Due to the growing population in UAE, the construction activities for hotel, condominiums and commercial and entertainment infrastructure are increasing and directly contributing to growing interest rate of the currency. The most dominant factor of the financial market in the United Arab of Emirates is been Banking Sector, which is intermediate between common man and economy as it endows with the credit conveniences to the same. And hence the demand for the credit is increasing which is also causing to increase in the rate of currency, but contradictorily in point of fact this is harmful. Since there is an expansion in the financial markets, the banking sector are benefited the most and can maintain the profitably and exploit most in this market. The liberalization of the country demands the overseas banks to invest, seeing that United Arab of Emirates can come into sight of global economy. An increase in lending money or mortgaging activities from the banks, can risk the cost-cuttin g measure of the country, therefore banks should perimeter it. The growth of the economy is taken care by the government for improvement among the financial systems. The supervisory body (Emirates Securities and Commodities Authority) is been given the responsibility of Initial Public Offerings in January 2007. Global investors should be invited to expand the capital markets in United Arab of Emirates by getting rid from the board membership. As suggested there should be a legal format for all the financial markets which will lessen the arguments. The major drawback of United Arab of Emirates is that the unmethodical insurance segment, and to enhance the market segment, this segment should be privatized. The high standard of living, productivity has caused the inflation in the economy of the United Arab of Emirates. US interests are not hooked up with flexible monetary policies. The high oil prices causes inflation and leads to major problem in the economy of United Arab of Emirates . Hence monitory policies should be independent, not confined to the interest rate of the compared currency and more effective. The cause of rise in the inflation was due to the rising cost of accommodation. This will lead to threat in cost of living which can cause the local economy. As a result this should be stopped. UAE Currency Markets The US dollar and the United Arab of Emirates dirham are hooked up at the rate of 3.6710 and similarly the Great Britain Pound (GBP) shifts directly with the US Dollar as well as AED. Source: http://www.dubaiselect.com/dubai_property_services/financial-services/the-currency/As shown in the above chart, GBP/AED moved from high in May of 6.9860 to a low of 6.6398 in June which on an AED 1,000,000 property would be an increased cost of 7,464 in less than two months. The currency fluctuations create instability in the financial markets which would affect in decision making for the acquisition of the property. This also avoids in the need of the development. But as soon as this hook is been broken between the US Dollar and AED, the instability in exchange rate and interest rate would generate a necessity amongst the short term and long term risks proficiently. The trading countries like Australia, Africa and other Arab countries, deal United Arab of Emirates with the US Dollar and thus major of trading or imports is done in US dollars. Hooking up with US dollars is not advantageous for the United Arab of

Communication Approaches Used by Corporate Essay

Communication Approaches Used by Corporate - Essay Example It is therefore important for the organizations to provide excellent and efficient means of communication to the people working in the organization to make sure that all the work that is done is of highest quality (Fritz, Narasiman & Ree 1998). Communication has become an important part of corporate planning. Specialist communication departments and Management Information Technology professionals have been recruited by organizations over the years to streamline its communication resources and flow. These specialist have also developed approaches of Corporate communications have been developed over the last few years to provide organizations around the world as a guide as to what is the best communication approach in the given scenario. There has also been good amount of research done in this field and many new approaches were innovated and test. Although there is no absolute answer as to which approach is the best, an organization is supposed to change its communication approaches ov er the years in order to obtain the best possible results. The process of communication these days is very different to what was practiced in the past. The developments of internet and cellular communication technologies have changed the entire paradigm of communication. The top level management, as a result of this, is more aware of what is happening at the production lines than they were before. This has improved the decision making as top level management is closer to the production level activities. This is a good thing and further development in the communication strategy and channels would lead to further streamlining of an organization’s operations. (Hax & Majluf 1984) A good example of corporate communication strategy and approach can be learned from the Shell/Royal Dutch Case. In 1995, the company decided to sink its Brent Spar in the Atlantic Ocean. This resulted in protests and a campaign against the company. Many customers boycotted the company’s products, most notably in Germany, The Netherlands and The United Kingdom. As a result, the company experienced massive drop in sales and was financially hurt badly. At first Shell responded stubbornly. It stated sink Brent Spar was the best decision and the accusation by conservationists and Greenpeace were wrong. This did not improve the company’s image and neither changed the public opinion against Shell resulting in further drop down of sales. Nine months down the road, Shell was involved in another controversial environment degradation activity in Nigeria. This time Shell responded more proactively. It invited stakeholders, environment experts, interest groups and other concerned parties for a debate. The change in communication style from Shell was evident this time around. Its communication strategy was changed from â€Å"Buffering† to â€Å"Bridging†. It was more willing to talk and hear the other side. Later that year Shell published an ethical report on its focu s on Corporate Social Responsibility and followed it up with another report. Meanwhile it continued to fund public projects and keep telling the public that it is a socially responsible company. Shell also acknowledge that the problem has arisen because in the past communication was not very open. It issued â€Å"Tell Shell† cards to the protestors to put forward their ideas and guide Shell what to do. This is an example of effective communication and it eased the problems that Shell was

Dystopian And Utopian Elements Film Studies Essay

Dystopian And Utopian Elements Film Studies Essay With close reference to no more than three postmodern films discuss the dystopian and utopian elements evident in their mise-en-scene. This essay will analyze Ridly Scotts Blade Runner (1982) and Alfonso Cuarons Children of Men (2006) in order to discuss dystopian elements evident in their mise-en-scene. The film begins with a panoramic view of the directors vision of Los Angeles in 2019. The night sky of the cityscape is lit an unnatural reddish hue and broken up by towering black skyscrapers and chimneys out of which sheets of flame erupt. This shot has the effect of immediately setting the scene for a post apocalyptic dystopia with the city being portrayed as demonic in the judeao- Christian tradition. At street level the sense of alienation the protagonist, Deckard, feels is reflected in the ethnic mix of his fellow Los Angelians. Hordes of Orientals throng about him. This sense of cultural alienation is compounded by witnessing Deckard struggling to order food from an oriental s treet vendor who struggles to understand what he is saying. The following scene further affirms this when a police officer arrests Deckard in order to bring him in for an assignment. The officer cant even arrest Deckard in English and the proprietor of the noodle stand has to translate for him. Another way in which the mise-en-scene conveys themes of dystopia in this sequence can be observed in the attire worn by the people in the street around Deckard. An eclectic mix of mismatched, castoff and recycled clothing is evident which seems somewhat contradictory when one considers this is also a society where space travel is normal and there is an abundance of flying cars. Continuing on this theme, the streets of Los Angeles are presented as being thoroughly dank, dirty and are perpetually strewn with refuse. Technologically advanced society where the common people still live in dirty, squalid conditions is a common trope of dystopian SF. Its function is to interrogate contemporary anxi eties regarding late capitalism and its effect on society. The mise-en-scene effectively conveys to the viewer this anxiety surrounding late capitalism and its dystopian undertones in a number of ways. The first and most symbolic way is through the opening shots of the Tyrell Corporation building: a gleaming glass and concrete pyramid reaching so far above street level as to be lit by natural sunlight: everything and everywhere else is dark and wet. Tyrell, Batty ironically observes, is the God of bio-mechanics and bio-mechanics is the citys ruling technology. Andrew Milner This immediately has the effect of emphasising the fact that it is corporate power that has shaped and moulded this apocalyptic vision of Los Angeles. Further examples of mise-en-scene which convey dystopian anxieties pertaining to late capitalism can be found in the repeated shots of enormous neon billboards which advertise various commodities, notably Coca-Cola, the product that perhaps best sums up the multinational corporate power of late capitalism. Additionally, a huge metal airship circles the city. Studded with searchlights, emblazoned with adverts and bellowing advertisements out of loud speakers it appears several times throughout the film. It could be argued that there is something inherently dystopian about such an imposing and intrusive contraption, especially during one scene where it shines its searchlights on Pris and Sebastian through the holes in the roof. Alfonso Cuarons vision of an infertile Britain in 2027 also makes effective use of mise-en-scene to convey dystopian themes. Unlike the corporation dominated future of Blade Runner, the society in which the protagonists inhabit in Children of Men is dystopian in part due to a fascistic, totalitarian British government that controls its subjects through fear and oppression. The sequence when Theo catches the train home from work (3:55) contains several elements of mise-en-scene that convey these dystopian themes. It is apparent that the Government broadcasts propaganda on public transport, in this instance its function being to warn the population about the insidious menace of illegal immigrants: Hes my dentist, shes my housekeeper, hes my cousin, they are illegal immigrants. Hiring, feeding or sheltering illegal immigrants is a crime. This is followed by a reminder to citizens that whilst the rest of the world has apparently collapsed, Only Britain soldiers on. This is command and co ntrol through fear in a classically Orwellian sense of the idea. These recordings bare a strikingly similar resemblance to the ubiquitous propaganda spouting telescreeens of 1984. Further aspects of mise-en-scene with dystopian undertones can also be identified in this scene. The train has metal grills protecting its windows, an ominous signifier of the level of crime in this society. They are quickly proven to be necessary when large group of adolescents pelt the train with rocks as it goes past. Graffiti is also used as a frequent reminder both of the level of antisocial behaviour and also the despair and nihilism that is felt in this society. Daubed on a billboard behind the group of youths is a slogan that reads Last one to die, turn out the lights. After alighting at the station, Theo walks past several armed soldiers and cages full of wailing immigrants. These cages are a sad sign of how this society has become utterly desensitized to human suffering, it is apparent that nobod y pays the people inside them the slightest bit of attention as they walk past. Throughout the film it is evident that although the narrative takes place 21 years after the films release, the technology of this future world has not improved in any significant way. This helps to convey the general trend of atrophy and stagnation that is an important theme in Children of Men. Throughout the narrative there are numerous instances where the mise-en-scene reflects this trend. For example, unlike Blade Runners rather optimistic portrayal of flying cars in 2019, British cars in 2021 appear pretty much identical to contemporary cars. If anything, they actually appear inferior, embodying perhaps a natural culmination of the modern trend for plastic, ugly Japanese manufactured cars that exist today. In certain instances it is apparent that technology has actually regressed. This is evident in the opening sequence where motorized rickshaws can be observed travelling down a street in London. In a further example of how the pace of technological advancement has in effect hal ted, the army and Homeland Security forces appear to use only contemporary weapons and hardware. It appears there have been no improvements in arms technology at all in the 21 years since the films release. For example, in the scene where Theo walks past the cages of immigrants at the tube station, the guards are armed with XM8 assault rifles weapons that were designed for the United States military in the nineties. The only minor exception to this lack of technological advancement can be found in the final battle sequence. Several soldiers in this sequence appear to be wearing some kind of HUD eyepiece device on their helmets, although this technology has been under development for some years and is not in itself particularly revolutionary. The governments control through fear and intimidation is evident in many of the scenes set in London and later in the Bexhill refugee camp. Again returning to the scene where Theo alights from the train, after walking past the cages he passes an army checkpoint complete with sniffer dogs and vehicle mounted heavy machine guns. This is reminiscent of Britain during the height of the terror alerts when Scimitar tanks and road blocks were deployed to defend airports against the threat of suicide bombers. In this sequence the fact that none of the public appears troubled by the sight of all this hardware arrayed against them is a further indication of just how routine this state of alert has become to the British people in 2021. A further example of this theme can be found in the sequence at 11:20 where Theo walks past a tower block that is being raided by security forces. The mise-en-scene in this sequence is inherently dystopian. A line of imposing riot police officers armed with trunc heons and shields denies access to the public whilst the black-suited Homeland Security forces menace the huddled occupants of the tower with assault rifles before throwing them into cages. It has already been mentioned that part of the reason for the dystopian nature of Children of Mens society is down to the totalitarian government. The mise-en-scene pertaining to the apparatus of their rule reflects this. For example, the faceless, abusive black suited government officials which appear throughout the film are a common motif in dystopian fiction. Also the vehicles the Homeland Security forces use are intimidating and authoritarian. For example, the vehicle that Sid the immigration official drives is a black, heavily armoured 44. It is also kitted out with what appears to be a remote-controlled Gatling gun mounted on the roof which swivels to track Theo as he emerges from the derelict school. All the government vehicles also appear to be equipped with loud-speakers which their occupants use to shout at the civilian population. This serves to further highlight the level of state oppression. The most powerful themes of dystopian governmental oppression are evident in the mise-en-scene during the Bexhill processing sequence. The protagonists are forced aboard a Homeland Security bus and driven past a heavy military presence outside the camps entrance. The camera angle changes to a first person perspective inside the bus looking out of one of the wire mesh covered windows. Somehow the view outside of two black Chinook helicopters flying in the opposite direction over a bleak moor manages to convey the sheer sense of hopelessness and futility of the protagonists situation and appears at the same time uniquely dystopian in nature. The mise-en-scene in the following sequence is perhaps the most useful to analyze in order to identify dystopian themes. The bus stops at a check point and search lights pierce the darkness and illuminate the busses occupants. A soldier with a large dog on a chain boards the bus and drags people off more or less at random if he doesnt like the look of them. From the activity that is visible outside it is easy to deduce that a nybody taken off the bus will be systematically stripped, beaten and shot. This scene seems to be constructed to be reminiscent of the way that Jews were treated upon entering similar camps in World War 2. A Nazi commandant would often stand at the entrance and Jews that he deemed that fit for labour would be sent off to the right whilst the once that werent would be sent off to the left and summarily shot. The Homeland Security soldiers in this scene behave in a similar fashion. The guard departs from the bus with the final remark You people fucking disgust me, uttered in such a way that there can be no doubt about their new status as beings that are less than human. A quote by Slavoj Zizek sums this scene up: And is it not that, in a strictly homologous way, the liberal warriors are so eager to fight the anti-democratic fundamentalism that they will end by flinging away freedom and democracy themselves if only they may fight terror? This is an apt quote, especially when one considers the hooded detainees in cages outside the bus which appear chillingly reminiscent of our contemporary equivalent, Guantanamo Bay, and the politics of fear that surround the Wests War on Terror. Word Count: 1928

The Growing Need For The Aware :: essays research papers fc

We as Americans need to become more sensitive to our use of language because with the increasing number of ethnic groups in the country one has to be cautious as to how they should define a certain group. Political correctness is a type of medium that helps us come to respect and communicate with the diverse group of races and cultures. Before we go on any further we must first define the meaning of political correctness. According to Webster's Dictionary, political correctness is the ideology that shows sensitivity, tolerance, and respect for another's race, gender, sexual preference, nationality, religion, age, physical handicap, or other especially if it differs from one's own. In other words, political correctness (better known as PC) is behavior and speech manifested in people of all race and culture that reflects an open-minded attitude towards other people present within the society today. For example, being 'PC'; refers to using phrases as 'physically challenged'; instead of 'disabled'; and 'Asian'; rather than 'Oriental.'; This term originated, interestingly enough, after the Civil Rights Movement and during the birth of modern feminism when many minority groups were fighting for their rights as Americans. The meaning of the words was not as significant back then as they are now. Political correctness has a completely different meaning today and it holds a lot of truths to it because it gives us that leverage to appropriately address someone without offending him or her. Many people these days are using the politically correct terms, especially business people, teachers, politicians, journalists, etc. It is sad to say that there are many more people whom simply do not realize what they say can be insulting. There are many examples in today's society where people haven't been considerate of other people's feelings and have been extremely un-PC. Most recently the so-called 'shock jock';, Doug Tracht who works in Washington DC, played music by Lauryn Hill on his radio show (MSNBC local news online). Hill is the black hip-hop artist nominated for 10 Grammy awards. On air, he remarked 'No wonder people drag them behind trucks.'; The statement referred to the brutal death of a black man in Texas who was dragged behind a truck. This is not the first time Tracht has gotten in trouble for a racial remark. In 1986 at another local radio station, Tracht made a derogatory remark about Martin Luther King day. That radio station was picketed and received bomb threats from angry people before Tracht made an on-air apology.

Neutrality of money

The â€Å"neutrality of money† refers to the notion that the effect of changes in an economy’s nominal supply of money will have no effects on the real variables like the real GDP, employment and consumption and only the nominal variables such as the prices, wages and the exchange rate are affected. It was the standard feature of the classical[1] macroeconomic model of unemployment and inflation that was based upon the assumption of quickly clearing perfectly competitive markets and the money market was governed by the quantity theory (Ackley, 1978). This resulted in what was known as the â€Å"classical dichotomy† – the real and monetary sectors of the economy could be analysed separately as real variables like output, employment and real interest rates would not be affected by whatever was going on in the nominal segment of the economy and vice-versa. The objective of the present endeavour is to explore this concept of neutrality by delving into its theoretical motivations and basis and thereby introspecting upon the extent to which distinguishing between short run and long run neutrality are important before briefly exploring the possible methods of empirically investigating the notion and concluding. In the standard classical macroeconomic model, which was the basis of answering all macroeconomic questions before Keynes’s General theory brought forth its capturing   assault onto it, the connection between the money supply and the price level was made through the quantity theory thus implying that the price level would vary to ensure the real aggregate demand, which was assumed to be a function of the real money supply, was in alignment with the available supply of output determined in the market for labour. The quantity theory simply posits that real money balances are demanded in proportion to real income. This can be expressed as MD/ P = (1/v).Y; where MD represents the nominal demand for money balances, P the price level, v the velocity of circulation of money and finally Y the real GDP.   Now by assumption, v is constant; MD equals the supply of money which is exogenous (MD, = MS = M) in equilibrium and Y is fixed at its equilibrium value (Y= Y*) determined in the labour market. As a result the quantity theory equation essentially becomes an equation that determines the price level for different levels of money. We have,  Ã‚  Ã‚   P = v.(M/Y*) . Evidently, changes in the money supply now shall only influence the prices. This is the basis of the notion of neutrality of money which therefore is a direct derivative of the assumption of the quantity theory itself (Carlin and Soskice, 1990). An increase in the supply of money initially leads to a rise in the aggregate demand above the real output (Y*, which is exogenous to the money market) due to increased availability of cash balances. Due to the excess demand situation the prices are pushed up until the demand for real output reduces to equal the supply of it. Note that in the classical system, the rate of interest plays the role of equating savings and investment at full employment and does not enter the money market. However, in the 1930s the great depression which was essentially a situation of cascading mass unemployment had no convincing explanation in terms of the classical framework which proposed that an economy would always operate at full employment. This situation of mass unemployment and the lack of forthcoming explanations of the phenomenon in terms of the classical full-employment framework provided the context for the introduction of the Keynesian model of unemployment. Although he upheld the assumption of perfectly competitive markets, he assumed prices to be fixed and money wages to be rigid and inflexible especially in the downward direction in the short run thereby implying the inability of the prices and wages to adjust to excess supply situations in the labour market; employment and output were determined by the effective aggregate demand in the product market. Consumption was assumed to be a function of real income implying savings, essentially the remainder of real income after consumption to be a function of real income as well rather than a function of real rate of interest as in the classical framework, and aggregate demand was made up of the planned expenses for consumption, investment and government expenses (for a closed economy). Contrary to the classical model, in the Keynesian framework the rate of interest serves in equating real demand and supply of money rather than equating investment and full employment savings. This set up not only brings forth the possibility of equilibrium with unemployment prevalent in the labour market, it also dispels the concept of neutrality of money. An exogenous increase in the money supply through its effect on the real rate of interest affects the amount of investment and through that causes a change in the aggregate demand and thus in the real output and employment. So, this framework proves the non-neutrality of money the short run (Mankiw, 2000). But in the long run, money can be deemed to have neutral effects through the following reasoning. An increase in the money supply will reduce the interest rates and increase investment. However, as the money supply rises, the real stock of money balances exceeds the desired level thus necessitating the expenditure on goods to be raised in order to re-establish the optimum and in that creating an excess demand in the goods market. In the long run prices and wages are perfectly flexible and in the presence of excess demand, there is a rise in the price level until the excess demand is satisfied, at the new equilibrium. Again this rise in prices leads to an increase in the demand for money and thus leads to a restoration of the real interest rates and investments to their initial levels (Patinkin, 1987). Therefore, in the long run money supply increases have no effects on real interest rates, investment, or output in the long run. So, we find that although money is actually non-neutral in the long run due to the wage-price inflexibility in the short run, in the long run money has neutral effects. Infact, Patinkin (1956) notes that not only is money neutral in the short run but this short run neutrality is absolutely necessary for the quantity theory to hold. If this non-neutrality is denied and the classical dichotomy is accepted, then there is no theory of money, quantity theory or otherwise. Testing the neutrality of money would require one to measure the effects of altered money supply has on real variables like the real GDP, employment and real interest rate. One approach possible would be to use a time series data set with values for these variables. A regression would be run to ascertain the extent of effects if any, the changes in money supply over time has had on the real variables. In fact, Fisher and Seater (1993) have used time series data in this manner to test the neutrality of money. Their methodology however requires the usage of advanced econometric tools. Many consequent studies[2] have adopted this methodology to test time series data for different regions and check for neutrality of money. Another option would be to use cross section data with different regions specified by different money supply values. By gauging the differences in the values of the real variables of these regions and relating these with the differences in the money supply values through regression analysis can be another way of testing for neutrality of money. So, to sum up, we have seen that although short run neutrality of money is not a valid proposition, money does not have real effects in the long run. In the final section we have suggested two possible approaches to testing the neutrality of money. References: Ackley, G., (1978). Macroeconomics: Theory and Policy, New York: Macmillan Boschen, J.F. & Otrok, C.M., (1994) Long run neutrality and superneutrality in an ARIMA framework: comment, American Economic Review 84, 1470-1473. Carlin, W., & Soskice, D., (1990) Macroeconomics and the Wage Bargain: A Modern Approach to Employment, Inflation, and the Exchange Rate, U.K.: Oxford University Press Fisher, M.E. & Seater, J.J., (1993) Long run neutrality and superneutrality in an ARIMA framework, American Economic Review 83, 402-415. Mankiw,   N.G., (2000) â€Å"macroeconomics† 4th ed, Worth publishers, New York Patinkin., D. (1987) â€Å"Neutrality of money,† The New Palgrave: A Dictionary of Economics, v. 3, pp. 639-4 Patinkin, D., (1956) Money, interest and prices: An integration of monetary and value theory, New York: Row Peterson [1] One should be beware of the misleading potential of the term classical and note its distinct presence in macroeconomics and its modern adoptions in the forms of new classical economics and thereby avoid confusing it with the school of economic thought associated with Marx, Smith and Ricardo. [2]   e.g., Boschen and Otrok (1994) for the US

Censor: regulating the digital environment is difficult and challenging Essay

Bill Hastings, the chief censor, has set forth to propose changes and modifications on the current law that regulates access to and content of video games and movies being marketed and shown to the public. Hastings went forward to ask for the support of Richard Worth, the minister of Internal Affairs in order to expand the coverage and implementation of regulation laws on video games and movies. The decision and advocacy of Hastings to modify laws on regulations of digital contents were based on his belief that current laws are superseded and do not apply to the changing dynamics of digital content. Hastings has acknowledged the exponential development of technology and digital content stating that their continuing advancement should be the same reason why regulation laws should also be adjusted. The thoughts and ideas presented by Hastings relate to the issues of evaluating and controlling technology and digital content. It is true the continuous development of technology makes it difficult to implement laws that evaluate and regulate them. With the passage of time, technology and digital content changes and transforms straying away from the authority and influence of laws that are rigid and inflexible. For these reasons, with the growth and expansion of technology, laws should also be constantly evaluated and adjusted in order for judicial branches and institutions to strictly implement sound regulations consistently and appropriately. This issue is worthy of society’s attention because it relates to the kind of digital content that the public is able to access. With various issues dug up on the certain outcomes of unregulated technology, such as pornography, piracy, adaptation of violent tendencies, exploitation, harassment, etc., society must be made aware of the need for the establishment and implementation or proper regulation laws. NZPA. (2009). Censor Wants to Regulate Online Games. Retrieved 18 Jul 2009, from Television New Zealand Limited. Website: http://tvnz. co. nz/technology-news/censor-wants-regulate-online-games-2465707 A Failure: The Vulnerability of Computer Technology to Hacking Kilgannon and Cohen, correspondents for the New York Times, have covered a Cyberwar games at West Point in New York. Among the contenders were the brilliant computer science and information technology students from various intelligence and security groups and institutions including West Point, the Merchant Marine, Naval Postgraduate School, Air Force Institute of Technology, and so on. The objective of the game was to counteract the cyber threats and challenges from the National Security Agency. Ostensibly, the aforementioned agencies decided to conduct a Cyberwar game as a means to increase their awareness and vigilance towards hacking. In addition, it was the Agency and Defense Department’s scheme in order to identify the most knowledgeable and skilled students and individuals from aforementioned security and intelligence groups and recruit them to boost the resources for national security. The strong campaign of the National Security Agency and Defense Department to go to great lengths in order to increase awareness and preparedness against hacking is a glaring evidence of the risks and threats involved in utilizing computer technology to secure national intelligence and safety. As stated by Kilgannon and Cohen (2009), the game was â€Å"Part of the Pentagon’s effort to increase the military’s capabilities. † The practices and precautions taken by the security, intelligence, and defense agencies in the United States only mean that the pitfalls of computer technology are imminent. The news may be considered a warning and reminder to society about the risks, threats, drawbacks, and problems involved with computer technology. It is a caution against the recording of personal information online since the vulnerability of computer technology to hacking makes it and the Internet unsafe mediums for communication. Kilhannon, C. and Cohen, N. (2009). Cadets Trade the Trenches for Firewalls. Retrieved 18 Jul 2009, from The New York Times Company. Website: http://www. nytimes. com/2009/05/11/technology/11cybergames. html? _r=1 Computer Technology Fails to Secure Cyberspace from Breaches In January, the National Security Agency has revealed a list containing numerous erroneous codes and sequences that would pave the way for security breaches. According to the Agency, there are various possibilities that would lead to security breaches and one of them is leaving systems vulnerable to external attacks and interventions. As the Chief Technology Officer from Veracode, Chris Wysopal said that the softwares being installed in computers should be thoroughly checked and assessed taking note of the existence of the codes and sequences written on the list. Prior to the reproduction of the softwares for computers, the codes and sequences, that proves to be dangers to the security of the system should be cancelled out. Just as the Cyberwar games conducted at West Point imply the vulnerability of computer technology to hacking, the existence and identification of dangerous codes that become the source of security breaches prove the precarious nature of the computer as a system. Apparently, the installation of security applications or softwares with protective features are not adequate in order to ensure that the information being sent and received by users are secure and that their privacy is valued and protected. The inability of computer technology to ensure safety and security is a huge error and failure. With the exponential advancement of technology, security and hacking softwares, programs, and schemes will always cancel out each other leaving the computer a technology that is always open to risks and threats. Once again, this is a warning to society about the dangers of computer technology. Being a technological tool that continuously evolves, people should realize that there will always be security and privacy risks and threats involved with the use of the computer. BBC. (2009). Dangerous Coding Errors Revealed. Retrieved 18 Jul 2009, from BBC. Website: http://news. bbc. co. uk/2/hi/technology/7824939. stm.