"This is artificial volatility with no economic substance," he argues.One solution, says Mr Bordenave, would be to use market values for everything, but that might have a graver consequence.
It simply leaves her new government open to the charge that it is willing to play party politics with an issue of grave consequence for national security, nuclear nonproliferation and global stability.
As soon as the pregnancy test is positive (and often long before), "eating is no longer a simple bodily function, much less a pleasure to be savored; it's a series of fraught choices, an act with grave consequences, committed three times a day".
Most people are lucky — they learn the lesson of the shield without grave consequence.
A strong showing in the rankings spurs student interest and alumni giving; a slip has grave consequences for public relations.University administrators deeply dislike the survey.
That level of borrowing raises concerns that investors could one day lose confidence in Tokyo's ability to service its debt, which could set off a crisis with grave consequences for the global economy.
Conflating rank and rank-based abuse is logically unnecessary and it's a mistake with grave consequences.
