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Sheila's "Overheard" thread reminded me of this:

my boss set up a meeting where we meet once every two weeks and call it a "bi-weekly" meeting. Some wiseacre piped up and said "boss, shouldn't this be "bi-monthly" since we meet twice a month?" The boss came up with "the bicentennial was to celebrate 200 years, and semi-monthly would be twice a month."

Of course, once every two weeks is not quite twice every month, since 11 out of 12 (or 45 out of 48) months have more than four weeks. But apart from losing the precision, which usage is correct?
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