Global Currency Crisis

[RVR]

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When PM Singh talks world listens

It is a great statement by President Obama on Prime Minister Manmohan Singh


The Hindu : News / International : When Singh speaks, people listen: Obama

All the best

 

[kunjuppu]

It is a great statement by President Obama on Prime Minister Manmohan Singh


The Hindu : News / International : When Singh speaks, people listen: Obama

All the best

i agree. of all the PMs we have had, manmohan has raised the level of our stature to heights seen never before.

i include nehru, who received no respect from the west, which he was always criticizing.

manmohan's appeal is universal. it was a heartwarming site to see him sooooo dignified and he carried himself so good, here in toronto, that my heart skipped a beat, and had goosepimples all over my body.

hope the italian lady does not get any new ideas to supplant our beloved sardar.

ps. when manmohan denounced the sikh extremism, he dealt a bigger blow to sikh terrorism in canada, than any one else i know from india. major newspapers carried editorials or articles condemning sikh terrorism, which is getting new adherents who are ignorant and get swayed by religious bigots.

 

[RVR]

Paul Krugman says we are in the early stages of a third depression

The early stages of a third depression | Deccan Chronicle | 2010-06-29

All the best

 

[Nara]

Folks,

Huffington Post has an article on world's happiest nations. It cites a journal article that is not readily available, but I was able to get a pdf copy of it from my university library.

The article includes an interesting table that ranks selected countries on five different measures. India does poorly on all of them except negative feelings. At first blush this may seem a good thing, but on reflection it seems to me, this willingness to suffer in silence is not that good, it only allows the rich and powerful to exploit the ordinary folks even more.

Particularly disturbing is India scores second from the bottom on Social Psychological Prosperity, Nepal being the last. Not surprisingly perhaps, South Korea scores pretty badly as well, just above India, third from the bottom.

I have attached this table to the post. A brief explanation of terminologies is given below, as I understand them:

Social psychological prosperity included:

• respondents reported whether they were treated with respect on the previous day
• whether the respondent had family or friends he or she could count on in an emergency
• work hours

Self-Anchoring Striving Scale -- assesses global life evaluations;
Positive feelings -- enjoyment and smiling or laughing
Negative feelings -- anger, sadness, worry, and depression

Cheers!

 

[RVR]

Prof nara,

An American visitor long back was surprised to see how poor Indians are very happy. I think this news item appeared almost two decades back when India had much higher poverty levels. He openly said in an interview that we Americans in general are very rich but not at all happy buy you Indians living in road side platforms seems to be more happy.

May be India is more rich on philosophy side and less on materialistic side. Even a slum dweller is more knowledgeable philosophically than a rich American.

All the best

 

[RVR]

IMF forcasts better economic recovery

IMF raises 2010 world GDP forecast, flags Europe risks

All the best

 

[tbs]

hi folks,

India growing at 9.4%, says IMF

courtesty HT

regards
tbs

 

[RVR]

G 20 is bringing new tools to face the global economic crisis

G-20 to finalise new tool to combat financial crisis

All the best

 

[Nara]

India growing at 9.4%, says IMF

Here is a hilarious, but sad look at the projected GDP growth. www.outlookindia.com | GDP Vs GDP

In the study this opinion piece cites, published this month, based on a weighted average of a variety of factors called Acute Multidimensional Poverty Index (MPI), India ranks two places better than Haiti and right in front of Cameroon.

Among the countries fairing better than India are, Cambodia, Bolivia, Vietnam, Ecuador, and get this Pakistan -- Pakistan a full six places better than India out of 93.

Here is a quote from this report to ponder:

If we compare the MPI values of states within India alone, we find that 8 states with poverty as acute as the 26 poorest African countries, are home to 421 million multidimensionally poor persons, more than the 26 poorest African countries combined (410 million).
​

Don't get me wrong, I like India's economy to grow, but only if the growth is shared among everyone, not just the already rich and powerful.

Thanks ....

 

[sangom]

Here is a hilarious, but sad look at the projected GDP growth. www.outlookindia.com | GDP Vs GDP

In the study this opinion piece cites, published this month, based on a weighted average of a variety of factors called Acute Multidimensional Poverty Index (MPI), India ranks two places better than Haiti and right in front of Cameroon.

Among the countries fairing better than India are, Cambodia, Bolivia, Vietnam, Ecuador, and get this Pakistan -- Pakistan a full six places better than India out of 93.

Here is a quote from this report to ponder:

If we compare the MPI values of states within India alone, we find that 8 states with poverty as acute as the 26 poorest African countries, are home to 421 million multidimensionally poor persons, more than the 26 poorest African countries combined (410 million).
​

Don't get me wrong, I like India's economy to grow, but only if the growth is shared among everyone, not just the already rich and powerful.

Thanks ....

Dear Nara,

I am happy to note that the article admits that the caste system is warranted ! Pl. see:

"As to GDP II, did you tell us something we did not know? And is it to be thought that any nation can increase GDP I without simultaneously increasing GDP II as well? Dammit, somebody has got to pay the price for the frontline few to conquer the world."

This our ancient seers could see as clear as daylight through their yogic fourth dimensional vision. That is why Bhagavan Krishna Paramatma himself declared, "chAtuRvaRNyam mayA sR^shTam..." and "swadhaRmE nidhanam SREyaH paradhaRmO bhayAvahaH..."

I am sure the conditions in the cited African countries is also like ours only, but statistical jugglery may be at the back of the deliberate attempt to paint India in a bad colour.

FYI, our PM was eloquently supporting the then theory of South becomes poorer in order to make the north grow richer, during his IMF tenure, but as soon as he became the FM in Narasimha Rao's Govt., (and we had to pledge gold, etc.) he threw away all the old theory and jumped into the global free market band wagon.

 

[RVR]

India has a population of about 1.2 billion people.

Government of India is enacting a new legislation on food security for all

Food for a billion - Developmental Issues - Environment - Home - The Times of India

This will enable `inclusive growth'

Already NRGES is helping the poorest of the poor.

Mahatma Gandhi National Rural Employment Guarantee Act - Wikipedia, the free encyclopedia

India is definitely going for inclusive growth

All the best

 

[AnanthaNarayanan]

prof nara,

an american visitor long back was surprised to see how poor indians are very happy. I think this news item appeared almost two decades back when india had much higher poverty levels. He openly said in an interview that we americans in general are very rich but not at all happy buy you indians living in road side platforms seems to be more happy.

"may be india is more rich on philosophy side and less on materialistic side. Even a slum dweller is more knowledgeable philosophically than a rich american."

all the best

rvr sir
u r right, that`s why many of our hindu mutts have got strong roots in us.

 

[RVR]

An interesting article on Global economic crisis

The Hindu Business Line : Spending nine dollars to earn one

All the best

 

[Nara]

....Government of India is enacting a new legislation on food security for all

This will enable `inclusive growth'

Already NRGES is helping the poorest of the poor.

India is definitely going for inclusive growth

Hi,

If only we can guarantee inclusive growth by passing legislation, then there would be no injustice anywhere in the world.

Looking at GDP or the Dow Jones index is easy, but completely pointless to a large cross section of the population. It does not matter a whole lot to the unemployed and underemployed whether DOW crosses 11,000 or not. Similarly, it does not matter a whole lot to the families of the tens of thousands of poor peasants finding relief from mounting debts by drinking deadly pesticides they were given in exchange for the debt. Many of these suicides can be traced to the mindless liberalization policies of the government that produced this amazing 9.5% GDP growth. Dow crossing 11,000 or 9.5% GDP growth, these things benefit mostly the already rich and powerful.

Yesterday Goldman Sachs (GS) settled with SEC without admitting guilt and paid $550 million in fines, largest ever in history. But, the minimum fine the market expected was $1 billion and some thought it could be as high as $10 billion. So, in late trading, GS stock price rose by 5% adding $3 billion to its market cap. Nice deal indeed.

$ 550 million fine for what? For causing global financial melt down costing trillions of dollars and millions of lives ruined. GS, took junk mortgage based securities, got them rated AAA, went short on them, and sold them to their trusting clients. Fraud written all over it. After the melt down they paid themselves $10 billion in bonuses. Now, they get to settle, without admitting guilt, pay a fine of $550 million, and see their share price soar by $3 billion -- they come out ahead even when they pay a fine.

GDP growth is not the true measure of a nation's prosperity. For that we need to look at indicies like MPI. Track them constantly, publish them widely, direct our efforts at improving them. Well that is hard and may make the masses realize the truth. It is lot easier to pass some legislation and let the people track GDP growth so they will feel good about themselves.

Cheers!

 

[nachi naga]

The distribution of material wealth,has always remained in the hands of few ppl on top cream,like kings,queens...now de facto kings,queens being the President,Prime Ministers.....etc.The way things work have hardly changed,but its notional ppl elect their own govt.lol,the business ppl fund these ppl to run for office,therefore always in their pockets.what a sham we got now.

now biz have gone abt creating indexes,which is nothing short of gambling.lol,the best part is,every stock or share buying goes with a standard disclaimer...ha ha..ppl are just gambling but with high jargon words make it appear as if its a science and make even predictions based on that like GDP,Indices,MPI..etc.Gone are the good old days of just trading based on human values.Kalaha Yugam it is,so this is bound to happen.The biz class,the ruling class,the elite religious class have always used and abused ppl for their selfish gains....baniyas zindabad.

 

[AnanthaNarayanan]

EU exports to India up 28 percent

Brussels, July 16
Exports from [FONT=Verdana! important]the European Union[/FONT] (EU) to India shot up by 28 percent to 10.6 billion euros (about $13 billion) between January and April 2010, compared to 8.3 billion euros in the corresponding period last year, EuAsiaNews reported Friday.http://www.prokerala.com/news/articles/a151583.html
increse of eu exports to other countries:- can we take it as recovery from the crisis...............

 

[AnanthaNarayanan]

India capable of 10 percent growth

New Delhi, July 20
India can deliver a 10 percent growth provided the farm output touches four percent annually and industry and services grow in double digits, top bureaucrats said here Tuesday at a meeting with industry captains.
http://www.prokerala.com/news/articles/a152540.html

India working to rejig its subsidy system: government

New Delhi, July 20
The government is reworking the subsidy regime to address the twin issues of meeting social obligation and lowering of fiscal deficit,
Cabinet Secretary K.M. Chandrasekhar said Tuesday.
http://www.prokerala.com/news/articles/a152493.html

 

[RVR]

http://www.prokerala.com/news/articles/a152540.htmlIndia capable of 10 percent growth

New Delhi, July 20
India can deliver a 10 percent growth provided the farm output touches four percent annually and industry and services grow in double digits, top bureaucrats said here Tuesday at a meeting with industry captains.

http://www.prokerala.com/news/articles/a152493.htmlIndia working to rejig its subsidy system: government

New Delhi, July 20
The government is reworking the subsidy regime to address the twin issues of meeting social obligation and lowering of fiscal deficit,
Cabinet Secretary K.M. Chandrasekhar said Tuesday.

Sri Anantha Narayanan,

Farm out put has to increase to improve rural economy as well as inflation.

If there is shortage of food items, farmers are not benefited and only the middle man reaps the benefit.

If we have to achieve double digit growth then agriculture has to contribute substantially towards it.

Unfortunately the NRGES is being misused at local levels and again corruption is rampant.

Let us hope things improves in the future.

All the best

 

[sangom]

Sri Anantha Narayanan,

Farm out put has to increase to improve rural economy as well as inflation.

If there is shortage of food items, farmers are not benefited and only the middle man reaps the benefit.

If we have to achieve double digit growth then agriculture has to contribute substantially towards it.

Unfortunately the NRGES is being misused at local levels and again corruption is rampant.

Let us hope things improves in the future.

All the best

After 58 long years and several Five Year Plans we are still groping in the dark for a slightly more honest administrative machinery which will at least make 50 paise out of every rupee spent on various development programmes, reach the true beneficiary. During this period all possible models have been tried but without success. Even God Almighty will have to accept defeat before the gigantic machinery of greed and corruption, that is India! l

 

[AnanthaNarayanan]

sri RVR sir,

still we have to reiy on the varun baghavan for a trouble free rain. to show our gdp in agri. actually it should be a sure level to set our gdp regularly.

 

[RVR]

sri RVR sir,

still we have to reiy on the varun baghavan for a trouble free rain. to show our gdp in agri. actually it should be a sure level to set our gdp regularly.

We have to do better water management and also adopt drip irrigation/sprinkler irrigation etc.

I have seen lot of farmers doing well purely through better farm management techniques and don't bother about `Varuna Baghavan'.

Neglecting agriculture in a country where more than billion stomachs are to be fed regularly wrong.

Let better sense prevail on our rulers.

All the best

 

[AnanthaNarayanan]

After 58 long years and several Five Year Plans we are still groping in the dark for a slightly more honest administrative machinery which will at least make 50 paise out of every rupee spent on various development programmes, reach the true beneficiary. During this period all possible models have been tried but without success. Even God Almighty will have to accept defeat before the gigantic machinery of greed and corruption, that is India! l

sangom sir,
it true, those who are in position should work for ppl. atleast after double filling there own stomach. but what we can see is as you said all most all in same track with greed and corruption,

one stroy i am remembering
one king has promised some Rs 5 lakh to an old man.on his regular ppls meet. king given a chit for that and told him you pl go and collect this amount form our treasury.

after some months the same old man came to see the king . king allowed him see and asked how are u.
the old man told, king as you promised and give the chit for 5 lakh, but i have got 5000 thousand only. it is very bad that your people are eating the money,which is belongs to me.your man corrected 5 lakh to 5000.

king told the old man pl be cool . i will give another chit for more amount. you will get the balance.

then king told the old man , now you say to me how much of my money these ppl eats daily just imagine.....
old man- then why you did not remove them .
king- because i am expecting ,atleast they will do some thing good to ppl, after there stomach fills
if i remove half way of his term the new one will also may do the same ... then it is a never ending story......kepps going on and on

 

[AnanthaNarayanan]

We have to do better water management and also adopt drip irrigation/sprinkler irrigation etc.

I have seen lot of farmers doing well purely through better farm management techniques and don't bother about `Varuna Baghavan'.

Neglecting agriculture in a country where more than billion stomachs are to be fed regularly wrong.

Let better sense prevail on our rulers.

All the best

Sir RVR Sir,
true precision agri technique is used widely in tamil nadu and many place. the cost of production will come down
and yeild will shoot high. but initial infrastructures cost more, govt may give subsidies. we have to see the

 

[AnanthaNarayanan]

We have to do better water management and also adopt drip irrigation/sprinkler irrigation etc.

I have seen lot of farmers doing well purely through better farm management techniques and don't bother about `Varuna Baghavan'.

Neglecting agriculture in a country where more than billion stomachs are to be fed regularly wrong.

Let better sense prevail on our rulers.

All the best

Sir RVR Sir,
true precision agri technique is used widely in tamil nadu and many place. the cost of production will come down
and yeild will shoot high. but initial infrastructures cost more, govt may give subsidies. we have to take know how from desert farming also.

 

[RVR]

India is the 9th best investment destination in the world.

India ninth most attractive investment destination: UN agency - Yahoo! India News

All the best