Internal migration: Oriyas in Gujarat – The Economic Times

Copying Western models

Through correspondents in Orissa they deliver remittances (which constitute as much as half of total earnings) to recipients back home within six to 48 hours, at a much lower effective cost than that the 5% charged by the post office on money orders (which can take two weeks). Bank drafts are much cheaper than money orders, and were indeed the preferred option, until the private operators emerged to obviate the need to open a bank account or lose precious earning time queuing up and doing all the paper work.

With the advent of these private operators the formal sectors’ share of the remittance market has shrunk to 10%. Other informal financial institutions that have proliferated are bishis (chit funds) and “committees” (informal credit unions) to cater to savings and credit needs. (via Internal migration: Oriyas in Gujarat- Comments & Analysis-Opinion-The Economic Times).

Western models and colonial mindset

This is where RBI, the IAS and the rest of the Westernized janata miss out on India. Desperate to ‘modernize’ and ‘progress’ on Western models, we miss out on Indian business models which are more cost effective and require less bureaucracy. RBI has (more than the British could) ground the traditional Indian finance sector into obscurity – by blocking access, creating entry and finally procedural barriers.

What India needs are solutions that Indians need for our requirements – and not what some ‘vested’ interests (read as Western nationals /educated) sahibs (Brown or White), who are more keen to preserve their status and power rather than do their job.

What needs to be done is the end of state support for English language higher education. This precisely what Indian power elites do not want to end, as it prepares them and gives tickets for opportunities in the West.

Roma Gypsy murder raises ethnic tension higher – BBC NEWS | World | Europe |

“The net is tightening around the perpetrators,” says Hungarian Police Chief Jozsef Bencze. “But our main enemy now, is time.”

The short time which passes, that is, before the next lethal attack against a Roma (Gypsy) settlement.

The Hungarian police are now investigating 18 such attacks in the past 18 months, some carried out with both firebombs, and firearms. (via BBC NEWS | World | Europe | Murder raises ethnic tension higher).

A few months ago, President Sarkozy was preaching to PM Manmohan Singh of India, about managing minorities. Can you, Shri Sarkozy, look at your own backyard.

A few months ago, the Italian police started a campaign of racial profiling and persecution of the Roma – based on an isolated murder of an Italian.

This disproportionate response against a community, to a crime (I am making an assumption of guilt) by a Roma individual, smacks of persecution, racism and pogroms. After all, this is how Hitler and Mussolini too started their campaigns.

What’s right with Indian bureaucracy

The bureaucrats shift the blame on the politicians

Bhave resigned from the IAS in 1996, to take up what was then seen as a rather low-profile job — to create India’s first share depository, even though he had the option of going there on deputation. “The job needed full-time commitment from me and from the team I was recruiting. How would I get it, if I did not burn my boats myself?” he says. (via Lunch with BS: C B Bhave).

Colonial institutions

The RBI, the IAS and the IFS are three services which have remained colonial and have a complete choke on Indian policy framework.  There is something about their structures which is not allowing them to shed their colonialism. The Railways have changed – as have many Governement organizations like Public Sector banks, Air India-Indian Airlines, etc.

And this extract confirms the conclusions made by 2ndlook and posted 1 year ago.

RBI, IAS and IFS

On April 1st, 1934, while the ‘Squeeze India’ campaign was under execution – choreographed by Montagu Norman, Neville Chamberlain, Winston Churchill (some sickness … some racism) Lord Willingdon, India’s banking authority was set up.

The objective of setting up RBI – this colonial money authority, was to devise a policy structure for creating a ‘money famine’ needed by colonial British masters. From that April Fool’s day till now, RBI character has not changed. RBI resorts to creating these money famines every few years – even today. The last RBI ‘money famine’ in 1996 saw inter-corporate interest rates shoot to 40% – and a recession that lasted for 4 years.

The IAS (a successor to the colonial ICS) and the Planning Commission are the other two. The IFS has been pre-occupied with diplomatically engaging the West, fixated with Pakistan, while India’s relations in neighbourhood are at a historic low. But the English speaking, Indian bureaucracy is another matter. Having dragged India to the bottom of global corruption pervasiveness ratings, they cover their owns misdeeds, under the ‘umbrella’ of the neta. This is one colonial institution that India has tried digesting, without succes. IAS (ICS during colonial times) a venal, corrupt cadre, has tied up India into knots – which have taken us decades to even start disentangling.

Compare the successful bureaucracies

Compare that with the brilliant track record of modern Indian regulators and organizations like the SEBI, TRAI. Or even the IPS. India has the lowest prison population in the world – and also the lowest police-to-population ratio.

Till 1990-95 Indian stock trading was largely done done through the open outcry system, physical paper settlements, long settlement periods – and rampant manipulation. Indian stock trading systems was a closed club – and did not attract any serious investors.

Between, 1900-1995, SEBI, NSE, BSE and NSDL designed and managed the transition from the physical platform with the open outcry system to a complete electronic trading platform of the NSE and BSE.

Today, the BSE/NSE trading system is the most advanced in the world – in terms of trade volumes, transaction volumes and automation.

By 2000, India had less than 4 crore phones. Most of the 100 crore (1billion) Indians were unconnected – and disconnected from the world. Governments monopolies, BSNL and MTNL, ruled the roost. By 2000, India had less than 4 crore phones. Most of the 100 crore (1billion) Indians were unconnected – and disconnected from the world. Governments monopolies, BSNL and MTNL, ruled the roost.

By 2001, the BJP led Government came to power. The telecom regulator in a series of bold moves, changed policies – and equations. Tariffs declined by nearly 5000% – from roughly 50 cents to 1 cent per minute. User base ballooned to 20 crores – from 4 crores. In 7 years more telecom users were added than in the previous 70 years. For the first time, the poor in India are beginning to benefit from technology.

It took a non-Congress Government in 1977 to change the face of Indian Railways. Prof.Madhu Dandavate, the Railway Minister in the 1977 Janata Government started the railway renaissance in India. 3rd class railway travel was abolished. Wooden-slat seats were abolished. Cushioned 2nd class seating system was made minimum and standard. Train time tables were re-configured. Reservation systems improved. Railways started getting profitable.

Smear the neta

The de-colonization of Indian Railways began effectively in 1977 – 30 years after British departure. Symbolically, that was also the year that the Rail Museum was set up. The progress after that has been remarkable. Today for a US$5, an Indian can travel for a 1000 km.

All this when only 25% of Indians travel by rail at least once a year.

Smear the neta

From colonial times, the Indian neta has been a favorite target of smear campaigns, innuendo and propaganda. Colonial administration in India worked hard to undermine the credibility of the Indian ‘neta’ – for obvious reasons. Colonial bureaucrats (and their successors, the IAS) covered their incompetence and corruption with this lopsided image of the neta. Indians politicians are possibly as corrupt as any others in the world.

Reclaiming America’s Soul – NYTimes.com

For the fact is that officials in the Bush administration instituted torture as a policy, misled the nation into a war they wanted to fight and, probably, tortured people in the attempt to extract “confessions” that would justify that war. And during the march to war, most of the political and media establishment looked the other way.

It’s hard, then, not to be cynical when some of the people who should have spoken out against what was happening, but didn’t, now declare that we should forget the whole era — for the sake of the country, of course. (via Op-Ed Columnist – Reclaiming America’s Soul – NYTimes.com).

Paul Krugman in his true and real colours

I liked this Op-Ed peice by Paul Krugman. It shows him in his best colours – as a hypocrite, psuedo-moralist, with patently false concerns.

His concern is about the use of torture or 3rd degree methods, in a nation that “used to be, a nation of moral ideals”. He wants to do this “not just for the sake of our position in the world, but for the sake of our own national conscience”.

Much before the elections it was clear that all the three candidates were on the same side. Their wrangling was all a wrangling for the spoils of power.

A simple question?

Who exactly did the US of A use torture against? Reading Krugman, you cannot ever make-out that the victims were NOT American citizens.

Squeamish, or evasive? Or just a plain affliction of false delicacy? Krugman, you are not being escapist, are you? No “I” word at all. God forbid, but Krugman does not mention, not once – Iraq, Pakistan, Afghanistan, Islam, Muslim. Not even once. Good fer ya, Paul!

Krugman signing off …

what we really should do for the sake of the country is have investigations both of torture and of the march to war. These investigations should, where appropriate, be followed by prosecutions — not out of vindictiveness, but because this is a nation of laws. We need to do this for the sake of our future. For this isn’t about looking backward, it’s about looking forward — because it’s about reclaiming America’s soul.

Says Krugman!

I dont know much about ‘investigations,’ ‘America’s Soul,’ or ‘the nations of laws’ – but what I know is that the Rest of the World should do something about a rampant American gone horribly wrong.

And the answers are simple

Just do two things.

Go out  and buy gold. If all the readers of this blog bought one kg of gold, the US dollar (and all other paper currency systems) will crash. Phoooos! Yes that the sound of escaping air from the punctured dollar.

Second!

Just stop drinking Pepsi and Coke – and dont step into a McDonald’s. If Coke and Pepsi sales in China, India, Brazil and Russia collapsed, it will start a domino effect.

Just this!

Food journalist from Times of India & Economic Times

Matters came to a head in the 1920s over a grant by the Tamil Nadu Congress Committee to a school where two Brahmin students were given separate eating facilities. After much campaigning, when the Committee withdrew the grant, several Brahmins resigned, causing the first caste-based split. Curiously Mahatma Gandhi, who was otherwise firm on overcoming caste discrimination in all forms, was willing to be flexible in not forcing inter-caste dining. This perhaps reflected Gandhi’s dependence in dealing with Tamil issues on Brahmin lawyers like C Rajagopalachari (who, to be fair, was not as personally prejudiced), but it could also stem from his own fastidious eating habits. Gandhi and the Brahmins shared a powerful sense of bodily purity based on food. (via Meat Eating & Inter-Caste Dinners Continue To Be The Hot Topics Of Political Debate In Tamil Nadu BY VIKRAM DOCTOR).

Here is someone who writes about food seriously – and usually with serious insight. He is best when he is writing about Indian food. He is also sponsored by various farmer co-operatives in the West – and then he starts plugging Western food, where he ends up being rather trite and synthetic. He is worth a read on Indian food though.

The Government should something about this!

The poor Indian didnt ask for this ...

“The government needs to look at this,” Crowden said. “Budgets are being cut. If they don’t do something, it’s going to be a serious public-health risk.” (via Coming to a bin near you: rat pack takes Britain by storm).

As a child, growing up in Hyderabad, for every problem, there were two common remarks. One, “The Government should do something about this.” The second was, “It is not like this in foreign countries.” Whether it was overflowing drain or a pothole on the road.

Looking back, I can see that things have changed. Over the years, Indians use this phrase less and less. This phrase is now close to becoming either extinct or may even become a parody. It may make its way into Indian films as a joke.

The other thing was that the people who could do something, the educated, the elite, the Westernized used this phrase, hankered for this solution more than the poor or the desi and the dehati types. In all my years, I have never heard a desi say that “the Government should do something about this.”

Curious eh!

Coming to the Brits! Till they get up, and stop asking the Government to do something, the decline will not stop!

Bank Regulators Clash Over U.S. Stress-Tests Endgame (Update1) – Bloomberg.com

The U.S. Treasury and financial regulators are clashing with each other over how to disclose results from the stress tests of 19 U.S. banks, with some officials concerned at potential damage to weaker institutions. (via Bank Regulators Clash Over U.S. Stress-Tests Endgame (Update1) – Bloomberg.com).

What are banking insiders saying?

Banking insiders think that all these banks are practically insolvent. How does Obama and his cohorts deal with? Mega mergers? More cash infusions. Or will the US banking also finally end up with the Big 3?

Did the stress crack them up?

Public sector or oblivion

During the Great Depression, more than 19 auto companies (similar to the number of banks today) were folded into the Big 3. The Big 3 lived to fight for another 70 years. In their death throes, the US Big Auto is likely to go the way European auto sector has gone – public sector or oblivion.

Saddam lives (through his words)

The way it looks, it will mean the Mother Of All Mergers. At which point, there is no team of accountants in the world who can figure out what is where, or what condition what is in? And then the evasions, the lies the obfuscation can continue for some more decades?

Real low … real truth (seen an oxymoron like that?)

The real question – who will pay for it?

Not the Americans! No siree. Definitely not.

Will the Lilliputs manage a soft landing?

Neither the American super-rich or the American welfare-poor? Not the American tax payers or the American tax evaders? Not the American Whites or the American Blacks?

It is the Chinese, the Russians, Indians, Brazilians and above all the Africans will pay for this! They have done, what bankers call non-recourse lending! The Chinese, Russians, Indians, Brazilians and the Africans, have no recourse. Who will the Chinese go to, for redeeming their US$2 trillion?

The bankrupt US of A? Welcome to the real world.

Related articles

• U.S. Regulators Issue Stress-Test Guidelines for Smaller Banks (businessweek.com)
• Dollar falls against euro after stress tests (seattlepi.com)
• CIBC: What’s the American Century endgame? (theglobeandmail.com)
• Euro Bank Stress Test Results Due Soon (UK Banks Pass: Sky News) (blogs.wsj.com)
• Europe Bank Stress Tests Compromised by Greek Non-Default (businessweek.com)
• UK banks set to clash with EU over tough new capital rules (telegraph.co.uk)
• Here Are The Banks That Failed Today’s Stress Tests (businessinsider.com)
• Dollar falls against euro after stress tests (sfgate.com)

Cuba in a Time Warp – The Atlantic

“The greatest achievements of Communism are health care, sports, and education. The greatest failures of Communism are breakfast, lunch, and dinner.” (via Cuba in a Time Warp – The Atlantic Food Channel).

Poverty in Cuba

The biggest reason for Cuban economic stagnation is the 100 year proxy war that the US has been waging against the former slave colony – which it ‘bought’ from Spain. Cuba’s problems started a 150 years before Fidel Castro.

Tales from the Caribbean

Almost unknown today are the Turks and Caicos Islands in the Caribbean. These were slave islands – and part of the Caribbean group of islands which were used by the British Navy to run their slave colonies. These were ‘salt colonies’ – not as well known as the ‘sugar colonies’ of Haiti, Cuba, Demerra, Trinidad and other West Indian Islands.

After the original Native ‘Red Indian’ tribes were annihilated in forced labour camps, mines and slavery, these Caribbean islands were peopled by millions of slaves that were imported and subsequently died.

Apart from the momentous slave revolts of Haiti and Cuba, about 200 slave uprising and revolts in the USA before the Civil War, cleared the way for end to slavery in the the Americas. Similarly, more than 20 slave uprisings in the Caribbean, made slavery impractical – and not the Anglo-Saxon concern for human rights or the oozing milk of human kindness. It was this determined Black struggle for overthrow of slavery, the more than 20 slave rebellions between 1789-1833, in the Caribbean – one every 2 years, that ‘persuaded’ the West to abolish slavery.

Afraid that US slaves will follow the Haiti example, US did not recognise Haiti, till November 1864 – 60 years after Haiti declared Independence. Moreover, in 1826, at the Congress of American States, under US pressure, Simon Bolivar did not invite Haiti.

The British search and seizure of colonies enriched them – at the cost of the native populations. A significant benefit of the English language to the Anglo Saxon Bloc is the convenient white wash of history in English language media – and tarring of competitive economies and nations.

For roughly 250 years, the Iberian Empires were the most powerful. The slave rebellion of Haiti triggered a collapse of the Spanish colonies in South America. Simon Bolivar, aided by the Haiti’s rulers, initiated decolonization movements across South America – leading to the demise of Spanish Colonialism. The last nail in the Spanish colonial possessions was Cuba – which they lost after the Spanish American War. After the loss of Cuba, Philippines and the American colonies, and the end of slavery, the Iberians imploded much like other slave societies.

A little over a century ago,

125 years after Independence, USA by 1890 was developing colonial ambitions and had acquired a taste of colonialism. On the other side of the Atlantic, earlier the Berlin Conference, sparked of the scramble for Africa. After the Brussels and Berlin conference carved up Africa, there were few places left for America to colonise.

America, then created the ‘Monroe doctrine’ – supposedly an anti-colonial doctrine, a policy to create colonies in the American backyard. ‘Yellow Journalism’ was invented to whip up public sentiment. On April 25th 1898, the US Congress declared war on Spain. For the next 4 months, the US fought The Spanish-American War. On August 12th, 1898, Spain signed the peace treaty. On December 10th 1898, the treaty of Paris was signed.

As a part of the Paris Treaty between Spain and USA, the USA ‘bought’ Philippines from Spain, maintains Puerto Rico as a colony also Guam – and paid Spain US$2,00,00,000. Cubans were nominally declared free but with many conditions. The Cubans refused to honour this ‘purchase’ – for which the USA has waged a war against Cuba for the last 100 years. Of course, the ‘inferior’ populations of these countries – Philippines, Guam and Puerto Rico were unfit for inclusion in the Paris negotiations about their future.

In 1915, again the Monroe doctrine was invoked to invade Haiti.And these interventions have continued. Haiti has been invaded many times. In the 1960s-70s, Chedi Jagan and his struggle to break from US domination (in the Caribbean) was sabotaged.

Having paid US$2,00,00,000 of the ‘US taxpayer money’, the US believes that they ‘own’ Cuba – and even today, continues to eye Cuba. It was such thinking that led to the ’sale’ of Cuba, Philippines and Puerto Rico by Spain to the USA. After the purchase, came a century of pain in Cuba, many hundreds of thousands of lives lost in Philippines and the forcible accession of Puerto Rico into the US. Of course, some of these islands have become colonies, of the USA, Britain and the people there continue to serve the interests of these Western nations.

Countries which wished to follow their independent future, like Haiti, Cuba, Granada have been made an example of by Britain and USA. For trying to make a country of themselves. A lot of such places would be quite happy without the Western attention they received – and subsequent ruin that they faced.

US antagonism …

The hostility of the US has its roots in this struggle – when US refused to recognize Haiti for a 60 years after the overthrow of the colonial French Government, which used the Haitians as slaves. US ‘bought’ Cuba from Spain – and hence this hostility. The US feels that they ‘own’ Cuba – and, of course, other and large parts of the world.

After Haiti independence, restrictions on slavery were discussed all over Europe and USA. The US placed restriction on import of slaves – which increased the price of existing slaves in the trade market. But slave traders like Jean Laffitte soon ran rings round this by smuggling slaves from Cuba.

For more than two centuries now, the US has been actively working with an agenda of ‘racial superiority’ which has resulted in slavery and then repeated interventions and manipulation in South America. They have used force and power to derail economies and politics of emerging countries. The example of Haiti’s failure and Cuba’s desperate struggle to survive drove Fidel Castro into the arms of Soviet Russia.

The US record against the growth and stabilisation of Cuba does not bear repitition. Having ‘bought’ Cuba from Spain (like Puerto Rico, Guam and Philippines), USA believes and feels that they ‘own’ Cuba.

In 1904, the US pressured Tomas Estrada Palma, a ‘puppet’ Cuban President, to sign the Platt Amendment. This allowed US intervention in Cuban affairs, if ‘vital’ US  interests were at risk (meaning at at US will) – finally modified only in 1934. Under this ‘new deal’ ‘Cuba would be allowed to export 22% of the sugar the US imported, by paying 0.09¢, a pound tariff duty. In return, little or no duty would be levied by Cuba on goods imported from the USA.’

When the freed slaves of Cuba, led by Fidel Castro, tried to overthrow American-foisted dictator Batista, the US used the American Mafia, to attempt assassination of Fidel Castro.

Elephants in the room …

Western media and academia today glosses over Western record of slavery and colonialism. This ‘collective amnesia’ about the past is widespread and blatant. Other writers forget about the causes leading to abolition of slavery. Seminal events in Haiti, Cuba, Caribbean are ignored, white-washed or brushed under the carpet.

The USA and the West has been at war (or by proxy) with the Black Republics of Haiti, Cuba, Greneda for the last 200 years. Fuelled by a desperate desire to show White superiority. By a need to white wash history. To hide the origins of their misbegotten wealth – built on the foundation of the skeletons of dead and surviving slaves.

Haiti gave the world freedom. Not America – which claims itself to be a land of the free (as long as you are white).

Media ‘White-wash’

A recent article in the British Guardian is a case in point. Richard Gott (the writer of this post) claims that he is a history student … which makes this post very remarkable. In the entire post of 1150 words, he mentions the word slave only once – while the entire history of Cuba for the last 200 years has been about slavery.

He is surprised by the number of Blacks in Cuba – which was the largest slave colony in the Spanish Empire – after the fall of Haiti. The Cuban revolution began in Haiti more than 200 years ago – and Fidel Castro has but been one, in a long line of revolutionaries who tried to break free from their enslaved past. For a history student, can this be ignorance or a more likely attempt at ‘whitewash’ …?

Exactly why is the presence of so ‘Blacks’ so surprising, Mr.Gott …?

Why is Richard Gott so surprised …

It is the ‘white wash’ of history – and the ‘tarring’ of protagonists which is a matter of concern. Haiti’s (and also Cuba’s) crime – they refused to accept the racial agenda of the US. They (including a ‘White’ like Fidel Castro) wanted to build a ‘free society’ for people – without colour being a factor. Perhaps all Whites are not like Richard Gott.

And that is, perhaps, why Richard Gott is so surprised.

Cuba according to Gott

Fidel Castro (L) with Ernesto ‘Che’ Guevara in the 1960s

The Cuban revolution began 50 years ago … with its charismatic and bearded leadership descending from the hills, young men in their 20s brandishing guns and seizing the cities, and calling for land reform …

Castro began his epic quarrel with the United States – through the US abolition of the sugar quota, the arrival of Soviet oil, the CIA invasion at the Bay of Pigs, and the missile crisis of 1962 … Faced with the implacable hostility of the United States, Fidel decided that he had no alternative except to ally himself with the Soviet Union.

What struck me most was to find an island full of black people. The revolutionary leadership could hardly have been more white … Fidel’s enlistment of the black population was his astutest move, being echoed in the United States (where he stayed in Harlem on a visit to the United Nations) … The only political movement in Cuba that had enrolled black people … was the Communist party, and Fidel (long before his move towards the Soviet Union) had turned to the local communists for help in reaching out to the urban population, both poor and black. The white racist element in the Cuban population had tolerated a black president such as Fulgencio Batista, who had kept the black population under control; they were alarmed by a white man like Fidel who appeared to be mobilising the black people against them. (via Richard Gott: It’s time to let Cuba in from the cold, and Obama is the perfect man to do it | Comment is free | The Guardian–ellipsis mine).

The Future Of Oil Is The Caribbean

Bretton Woods-II, based on oil-dollar anchor, worked for another 35 years (1973-2008) till now. Oil exploration is a 5-10 year investment. Oil should be made another commodity. An easy option is to create a Republic of Pacific Islands – Haiti, Cuba, Grenada, and other West Indies. These islands can become vast oil production centres – that will help them raise their economies and can feed Asia with oil, peacefully.

Reeling under the curse of history, Western intervention and poverty, the Caribbean islands have been dealt a bad hand. Third World countries are paying through their nose to the OPEC cartel and for a dollar hegemony. Cuba, Haiti and the various Caribbean islands have been hit by poverty and Western intervention.

Oil can break this vicious cycle. Oil exploration in the Caribbean has been negligible. These are promising exploration blocks. A joint venture between ONGC (India), Petrobras, and the various islands could kick-start oil exploration and production – which will change the future of the world.

For one, it would immediately reduce Saudi funding of terror.

What happens to Russia if a new Pacific Republic (Cuba, Haiti, West Indies, etc) were to start drilling for oil? In 5 years, the world would be awash with oil – and Russia’s mineral earnings could evaporate.

Brazil takes the first step

On October 14, 2008, 2ndlook had proposed a BRICS-Caribbean accord for oil exploration in the Caribbean. Brazil has also taken the first step. ONGC was already in the game. As is Russia. With India, Brazil and Russia working on Cuban oil exploration, it is a promising first step to a prosperous Caribbean.

“I don’t understand why it took so long to sign this agreement,” said Brazilian President Luiz Inacio Lula da Silva, who presided over a signing ceremony for the deal with Cuban President Raul Castro. That makes two of us, Mr.President!

Next stop, Haiti?

Europe wants to stay relevant

Europe which has a major say in the IMF and World Bank, after the USA, obviously wants to increase its role – and decrease US importance. To gets its way, it has gone on a major diplomatic offensive – to the extent of restoring diplomatic ties with Cuba.

Is that a sign of times to come?

Why Do Our Economic Models Keep Failing?

The ‘modern’ economic system is based completely on fiat money – printing of paper money. A mix of propaganda, academic support reassures everyone that the system has the ‘answers.’

The problems spreading ...

Amazing piece of propaganda!

The modern economic model is about printing money.

“Helicopter Ben” was the first, in his celebrated speech, where he sneeringly, (Did I imagine the sneer) explicitly and openly spelt out the US ‘printing press’ policy – and the aim to helicopter drop US dollar bills.

“Helicopter Ben” was also the first to further push the boundaries by refusing to share M3 figures with the world – with a terse announcement by the Federal Reserve Board.

After this, people wonder,

Why economic models always fail us in crisis.

That’s a big question, so fortunately the professor has a really great historical analogy to start us off.

A group of Swiss soldiers get lost in the Alps and the weather take a bad turn. One soldier realizes he has a map and they follow it until they find a town to take shelter. But when they explain what happened to their commander he realizes that’s it’s not a map of the Alps: it’s of the Pyrenees. (via Why Do Our Economic Models Keep Failing? – The Atlantic Business Channel).

Guilty Asians

Of course, I must say, Ben was kind enough to blame Asia for a savings ‘glut’ – which resulted in this global financial crisis. All in all, Ben Bernanke, represents a new level of Western brazenness. Alan Greenspan chimed in by his two-bits ‘the Fed did not cause the housing bubble’ statement.

Well, Chairman Sir! You didn’t do it! Neither did I. He didn’t do it. They didn’t do it.

So who did? The Asians, of course.

Bernanke's honesty!

Eureka! It works …

The US and the World economy is suffering from a surfeit of printed money which was channeled into ‘supply side’ economics. The model worked exactly as it should have!

The Chinese ‘worker’ and Indian ‘coolie’ worked his backside off. The American ‘consumer’ bloated up debt – and bought all the goodies.

The debt mountain became just way too-o wobbly. It crashed. The Chinese (and Japanese, Indians and the Russians) have been left holding these pieces of paper, called American dollars.

As for you …

Derek, if possible, be honest. Otherwise, keep quiet. Say nothing. At least, don’t add to the cacophony of lies, untruth and cover-ups.

Just don’t get very clever about this, Derek.

---

Related articles

• DeMark Says S&P 500 Climbing to Oct. 27 Peak Is ‘Critical’ (businessweek.com)
• It’s time for economic theory to evolve (finance.fortune.cnn.com)
• Ron Paul’s monetary madness infects the GOP (seattletimes.nwsource.com)

Modi fails the Kalinga test – The Economic Times

Nothing in our modern democracy, nor anything in our political culture that is over two millennia old, permits the ascendance of a ruler who lacks compassion for the people. In our myths, our history and our practice as citizens of a free and democratic country, there is no warrant for the exercise of unbridled power, or for a leader who fails the Kalinga test. (via Modi fails the Kalinga test- Opinion-The Economic Times).

Ananya Vajpeyi, teaches at the University of Massachusets, Boston. A ‘concerned’ NRI, she is cautioning her unlettered and unsophisticated‘desi brethren’ about the dangers of electing Narendra Modi. The basis of her fears – a highly critical (of Narendra Modi) article in a US magazine The Atlantic, by a influential journalist, Robert D Kaplan (extracted and linked above).

First and foremost, फ़िकर Not! Ananya. The Indian Voter knows what he is doing.

Secondly, and sadly, the hatchet job done by Robert Kaplan suffers from many infirmities – none of which you point out. What Robert Kaplan has done is use Narendra Modi as a human shield to attack India – secure in the belief that ‘no one will dare defend Narendra Modi’.

One – ‘Free’ India made bad and the wrong choices

Look at Kaplan’s statement on India’s post colonial choices “to protect the poor against the ravages of capitalism, which benefits only the majority rather than everyone”

Same difference …

No one, but no one, in their right minds, (Kaplan excepting) will ever state that Capitalism ‘benefits only the majority’. Capitalism benefited a small minority, who were allowed to concentrate and control the means of production – and enrich themselves; usually through Corporations.

The quid pro quo is that the capitalists will in turn advance the agenda of the ‘rulers’. E.g. The English East India Company. American Socialists may differentiate themselves by calling themselves as Capitalists,  may offer anecdotal evidence of a ‘trickle down effect’ – better than the Eastern European Socialists, but it can hardly be called a benefiting the majority.

Also, India could never have chosen capitalism – as that would have required vast numbers of slaves. Capitalism, which died out in 19th century, as we all know, was built on the pillars of ‘on-shore’ slavery and colonialism. Kaplan either forgets (unlikely) or does not know (surprising) that India has never used slaves – in the last 5000 years of history.

All countries are socialists today …

India’s post-colonial choices were a mix of pragmatism, necessity and accepted wisdom of the times – and Western pressures and influences that are responsible for more than a fair share of guilt in these wrong choices.

Kaplan conveniently forgets that economists like JK Gailbraith, Western institutions like World Bank, IMF, stampeded India (and Nehru), into some of these bad choices – which the West now claims were India’s own choices in the first place.

For instance, one of the worst choices made by India, tied to World Bank, IMF and US aid, was to follow the infamous population control policy.

Two -India is a paradox, cannot survive

Kaplan’s ‘deadly ethnic and religious tensions’ bit is again a case of selective amnesia. Would he like to trace the role of US and its client, named Pakistan, in the religious tensions that India manages today? Would he like to account for the US$ 3 billion that Indian NGOs receive each year – mostly from the West. These NGOs mostly, are a cover for proselytization or worse still, some of them are fronts for subverting or influencing Indian public agenda.

French youths face Paris riot police in Clichy-sous-Bois - Oct. 29, '07

Or would he like to posit the fact that the West today has the lowest levels of ethnic, linguistic and religious diversity – and persecutes whatever little is left, like the Roma Gypsies for example. Would he like to mention any other country where such a large minority Muslim population, has greater freedom and opportunity, than in India? Would you like to suggest France instead?

India manages the aspirations of nearly 17 crore Muslims – which is equal to half the population of the entire US of A. Get a minority population of that size, and then Mr.Kaplan, we will talk about the Gujarat riots.

In case you don’t remember, a simple marker for persecution Kaplanbhai, is decline in populations. Has the Muslim population in India declined? Like the Native American population has or the post-bellum African-American population has declined (in comparison to the ante-bellum)? Or the Jewish and and Roma Gypsy populations has (ignoring the limited population recovery of Roma Gypsies in post WW2 West). Or the reduction due to genocide of the poor Congolese by the Belgian emperor.

Did you see such magazine covers in India, Mr.Kaplan?

Post colonial census started with a Indian Muslim population of about 11.2% – which has now crossed 15%. Is that persecution, Mr.Kaplan? Is the ‘perceived’ Muslim backwardness (as defined by the Sachar Committee report) an effect of Indian public policy or are social choices made by Indian Muslims, the cause?

All the “social homogenization that globalization engenders” I have seen in India is how Western culture and content (TV shows, Hollywood, etc.) continues to remain a flop show!

I have no clue where Kaplan gets his data or opinions from?

Three -The argumentative Indian

The Kalinga effect.

I always thought Ashoka’s change in heart was a universal lesson – especially for the war-mongering Desert Bloc killlers – like George Bush! Modi looked away while some (estimated) 2000 Muslims were killed in riots. George Bush was looking, everyday, at more people getting killed in Afghanistan and Iraq (20 lakhs (2 million) at last count) than in Gujarat. What about the various US Governors who looked away as more than 2000 killed in riots at Queens, Bronx and Haarlem?

Is it that only Indians (especially Hindus) are supposed to be moral, Bhai Kaplan? King Ashoka is a lesson in history for all war mongers – and not Indians alone, Mr.Kaplan! Is it that Indians will be always be held to higher standards – while the West (and the Desert Bloc in general) can keep getting away with murder, genocide and massacres?

Four -Kaplan ko kyon gussa aata hai or (If only Narendra Modi would apologize) …

Kaplanbhai has a brilliant idea for Indians!

He is suggesting we let Mr.Modi get away with the Gujarat riots, if he says sorry! By making a proforma apology!

Worry about the West, Kaplanbhai!

Like the many false apologies, made or not made, after the genocide of Jews, Native Americans, or the Roma Gypsies or the Australian aborigines, and then get on with life. Ananya, you should know Indians better than Kaplan.

A common derisive Indian response to apologies is अँगरेज़ तो चले गए लेकिन, येह सॉरी शब्द यहीं छोड़ गए (the English have left, but they have left behind this word sorry). Indians will accept a change – complete and total change in behaviour! Satori! The flash! Indians will give a second chance to even criminals and robbers – without an apology!!

But empty apologies? Bad idea! Like Valmiki (the writer of Ramayana) did not apologize – but, instead he reformed! Or the many dacoits (Phoolan Devi et al) in the recent past, who were elected to the Indian Parliament.

Five -Kaplan in knots

Kaplan’s finds “migrants … Muslim, from throughout India have been streaming into Gujarat” and Kaplan also “encountered … alienation from India, evidenced by their withdrawal into their own communities …”

Two comments spaced a few paragraphs apart, and the contradictions become clear. If he cannot understand this anecdotal  ‘inconsistency’ he should either flag it or exclude it. What he is doing, is hiding it!

Six -The best of the trash

Obama and Modi comparison! Now that is interesting!

This is the only bit I liked in that entire article. Leaving his (one-legged, Godhra riots based) commentary aside, I would like to see a second Black person become a President of the USA. Just like there never has been a Catholic President, ever – except once, who was murdered!

Obama is tokenism.

In the last 60  years, in 15 US elections, only one bald US president has been elected – and only 5 bald presidents in the 233 years of Republican US. Seemingly, the US Voter and political system selects people with a headful of hair! And we are not even started on a woman president or a Muslim President! Worry about the prejudices and biases of the American Voter, Mr.Kaplan. India has had numerous Muslims in important positions – Supreme Chief justices,  Presidents (two of them, at last count), many Central Government Ministers!

It has taken nearly 60 years for Narendra Modi’s ‘right-wing’ Indian, ‘Hindu fundamentalist’ party to come to power – and lose it. They have been given opportunities at the states – and been suitably rewarded and punished – based on performance. The Indian Voter has voted the ‘Communists’ and the ‘Fascists’, fundamentalists and liberals, of all shades and colors – in and out of power. Indian Voters are smart enough and know what is good for them.

It is the American Voter, who is the concern, Ananya!

Seven -India – defeated and divided

Kaplan takes a misguided statement of a misinformed (by propaganda as education) Indian, Vijay Chauthaiwale, a molecular biologist that “They (the Muslim) conquered … we lost. The British conquered. We lost. We were a defeated society. We needed to come together as Hindus.” This is so juicy and tempting!

Would Kaplan take the word of an American molecular biologist on history as close-to-truth. If he did, The Atlantic, would throw him out faster than he can spell history.

Is this propaganda or opinion? History, it ain’t, Mr.Kaplan!!

Let us go to the ancient world.

The expansion of the Eyptian Slave Empire, led by their Pharoah Thutmose III,  was stopped at the Battle of Megiddo (1468 BC) – by an Indo-Aryan alliance of Mittanis, Amurrus and Cannanaites. It is the Battle of Megiddo, from which the Biblical Armageddon is derived, meaning, ‘mount of Megiddo’. The alliance led by “king of Kadesh with the support of troops and money from the Mitanni, the great power to the north,” was able to take on the might of the Egytian armies under Pharaoh Thutmose III.

Or the three important battles of the ancient world. Ramesis-II at the Battle of Kadesh!! Semiramis, whose Assyrian Empire, was finally dissolved after WW1, tasted a horrific defeat in her Indian campaign. The resounding defeat of Cyrus The Great at the hands of the Indo-Scythian alliance is rarely recounted in modern history.

More recently, Alexander’s retreat from India (which Kaplan also refers to, in his subsequent post) is too well known for me to repeat. The death of Crassus at the hands of Indo-Parthian General Suren is too grisly for Western tastes – and usually covered up, delicately. As is the defeat of Justinian’s Roman armies, at the Persian borders at the hands of Indo-Persian elephant army is not usually mentioned either.

The first foreign-Islamic ruler in Delhi, Qutubuddin Aibak, was in 1206 by which time large parts of Europe were already under Islamic rule for more than 400 years, from 8th century itself. Within 200 years, by 1400, the Ashvakans (these days known as Afghans) Lodhis and the Moghuls re-took New Delhi from the Khiljis – which ended foreign rule in India. Many Indians are still victims of colonial propaganda – which shows India as  ‘defeated society’. Kaplan is either a (unlikely) victim of this propaganda or a (most probable) part of the problem? Either way, bad job!

And you Ananya, should know better.

Eight -Small things that actually mean big things

He comments on how Narendra Modi wore “traditional paijama pants and a long, elegant brown kurta—ironically, the traditional dress of India imported by the Mughals.”

I got bad news again for you, Mr.Kaplan.

India is the only culture in the world to have unisex clothing. The plainsmen and women wore the 5-yard dhoti and saree – and the hills people wore the tubular top and leggings.  And this is one of the many things that Alexander’s armies learnt in India. Macedonian national dress is the salavaria!

Nine-Where would India be without the British Raj

Kaplan can’t resist crediting the British! His desperation to credit “The British, by contrast, brought tangible development, ports and railways, that created the basis for a modern state. … the British, despite all their flaws, advanced an ideal of Indian greatness”.

His Master's Anticipation - 'Uncivilized Indians fighting with each other like animals

At the end of WW2, Britain was a superpower, intact with its huge colonial Empire – apart from the massive debt that it owed the US. With Germany defeated and Hitler dead, Italy in shambles and Mussolini hanged, Britain sat at the head of ‘high tables’ in the post-WW2 world (with the US), deciding the fate of the nations.

On February 18th, the lowly Naval Ratings from the Royal Indian Navy rained on the British parade – by raising the flag of Indian Independence. Britain did not have the stomach to take on the Indian Colonial Army, battle hardened and exposed to warfare in all the global theatres of WW2. They acquiesced and 18 months later the British were out. From then, to …

Britain today, a shell of its former self – with its manufacturing hollowed out, its agriculture in shambles, its economy on the verge of being relegated to the Third World is a huge descent. Much like Spain after Haiti.

In a 100 years after Haiti, Spain flamed out. By 1930, it was in the throes of a Civil War. And in Spain today, prostitution is national industry.

The Master's Glee 2 - Rubbing their colonial hands in anticipation

India has in the meantime, led by ‘men of straw’, has moved from being a ‘ship-to-mouth’ basket-case, to a significant economic and political success. Yet, the British colonial administrators needed to prove that only they could rule over India. Indians were after all ‘men of straw … of whom no trace will be found after a few years’. And they were led by ‘half naked fakir‘. If Britain was indeed so good at its job, why can’t they do anything to save themselves from this terminal decline.

For all this, we owe a debt of gratitude to the British, Mr.Kaplan? Can you make up a better story please, next time!

Next time, Ananya

I could have easily made it ten or even a dozen falsities by Robert Kaplan – but does he deserve so much attention or time, Ananya? Will you rise to any two-bit of writing that denigrates India – using Narendra Modi (or someone else next time) as a human shield?

Are you Ananya, suggesting that international opinion should decide who the Indian Voter will elect?