Posts Tagged crisis
Y2K was met… Now Year 2038 stands as a Challenge…
The Year 2038 Problem……………………..
Test it now…
1. login to yahoo messenger
2. send instant message to anyone – fine its working…
3. now, change ur system date to 19-Jan-2038, 03:14:07 AM or above
(as mentioned in mail)
4. Confirm weather ur date is changed
5. again send instant message to anyone…
Your YM crahes….
* * * YES ALL NETWORK BASED APPLICATION WILL NOT WORK NOW * * *
Why…..??? What is it???
Starting at GMT 03:14:07, Tuesday, January 19, 2038, It is expected to see lots of systems around the world breaking magnificently: satellites falling out of orbit, massive power outages (like the 2003 North American blackout), hospital life support system failures, phone system interruptions, banking errors, etc. One second after this critical second, many of these systems will have wildly inaccurate date settings, producing all kinds of unpredictable consequences. In short, many of the dire predictions for the year 2000 are much more likely to actually occur in the year 2038! Consider the year 2000 just a dry run. In case you think we can sit on this issue for another 30 years before addressing it, consider that reports of temporal echoes of the 2038 problem are already starting to appear in future date calculations for mortgages and vital statistics!
In the first month of the year 2038 C.E. many computers will encounter a date-related bug in their operating systems and/or in the applications they run. This can result in incorrect and wildly inaccurate dates being reported by the operating system and/or applications. The effect of this bug is hard to predict, because many applications are not prepared for the resulting “skip” in reported time ? anywhere from 1901 to a “broken record” repeat of the reported
time at the second the bug occurs. Also, may make some small adjustment to the actual time the bug expresses itself. This bug to cause serious problems on many platforms, especially Unix and Unix-like platforms, because these systems will “run out of time”.
What causes it?
Time_t is a data type used by C and C++ programs to represent dates and times internally. (Windows programmers out there might also recognize it as the basis for the CTime and CTimeSpan classes in MFC.) time_t is actually just an integer, a whole number, that counts the number of seconds since January 1, 1970 at 12:00 AM Greenwich Mean Time. A time_t value of 0 would be 12:00:00 AM (exactly midnight) 1-Jan-1970, a time_t value of 1 would be 12:00:01 AM
(one second after midnight) 1-Jan-1970, etc..
A really nice and informative post that I found here. Must read for anyone who is worried about the current global situation.
About ‘Exchange Rate’ of a currency:
The exchange rate of the currency of a country in relation to the currency of another country depends on the comparative trade advantages and economic strengths of the countries. If one US dollar is equal to 45 rupees, it simply means that in the US, if a dollar fetches 45 oranges while in India, a rupee would fetch only one orange of equivalent size and quality.
Just like any other commodity, the currency of any economy is based on dynamics of supply and demand, and its value depends on trading in currency exchanges all over the world. Higher the demand for a currency on an exchange, the stronger it becomes and vice versa. However, for currencies like INR which are not traded on exchanges, the value depends on capital inflows in the country.
Appreciation & Depreciation of currency:
A currency appreciates means its value has increased in relation to another currency. A currency depreciates means its value has decreased in relation to another currency. Eg. If 1 $ costs Rs 45 and if it now costs Rs 44, this means rupee has appreciated in its value (i.e. instead of Rs 45 you will get 1 $ in Rs 44, this also means the dollar has weakened). Similarly, if 1 $ costs Rs 45 and if it now costs Rs 46, this means rupee has depreciated in its value (i.e. instead of Rs 45 you will get 1 $ in Rs 46, this also means the dollar has strengthened).
Why do currency values fluctuate?
There are many participants in any foreign exchange market. These entities — like banks, corporations, brokers, even individuals — buy and sell currencies everyday. Here too the universal economic law of demand and supply is applicable: when there are more buyers for a currency than sellers, its exchange rate rises. Similarly, when there are more sellers of a particular currency than buyers, its exchange rate will fall. This does not mean people no longer want money; it only means that people prefer to keep their wealth in some other form or another currency.