Showing posts with label ECONOMY. Show all posts

Thursday, 26 September 2013

Fake encounters of FM read and comment

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PC’s fake encounter with facts -- Kishore Trivedi

Why has PC not answered Dr. Subramanian Swamy? Why is PC asking Finance Ministry to file defamation case against Dinamani.

http://bharatkalyan97.blogspot.in/2013/09/soniag-upa-on-road-to-economy-crash.html

SoniaG UPA, on the road to economy crash. Remove Rajan, RBI Governor -- Dr. Subramanian Swamy

http://bharatkalyan97.blogspot.in/2013/09/indianeconomy-in-crisis-nationalize.html

Indian economy in crisis. Nationalize bank accounts of Indian citizens in 70 countries. Confiscate P-Notes. -- Dr. Subramanian Swamy

http://bharatkalyan97.blogspot.in/2013/09/pc-aggrieved-centre-files-defamation.html

PC aggrieved. Centre files defamation case against Dinamani.

PC’s fake encounter with facts
Kishore Trivedi on September 23, 2013

Arrogance blended with self-denial is a deadly cocktail and who better than our Finance Minister can demonstrate the after effects better! The fact that the Finance Minister and the UPA are living in a dream world was evident when he released a statement before going to the National Integration Council meeting, which questioned Narendra Modi’s claims of the economic growth under Atal Bihari Vajpayee’s NDA and the economic decline under the present UPA.

Chidambaram asked Modi not to stage ‘fake encounters’ with facts when the truth is that the Finance Minister is fooling the entire nation by giving half-baked facts and incomplete analysis. I ask the Finance Minister five questions that will puncture his attempt to mislead the people of India.

Question 1

Can Chidambaram deny that when UPA took charge (he was Finance Minister even back then), the growth rate of India was 8.6 per cent?

This was the result of a commendable effort of the Vajpayee Government considering the economic mess they inherited in 1998 and the severe economic sanctions by the world community in the aftermath of Pokhran. Placing India’s self respect first and backing it up by a grand vision, the Vajpayee Government left the economy at its peak with the growth rate of 8.6 per cent in 2004.

Question 2

Will Chidambaram also deny that the growth rate for 2012-2013, a year when he was Finance Minister, was barely five per cent?

It is alright to share year by year growth rate figures of the NDA rule Mr Finance Minister but did you bother to check the growth rate of the nation in the last year itself, which stood at a mere 4.98 per cent? How did Chidambaram forget this inconvenient but obvious truth right under his watch?

Question 3

Is Chidambaram aware of the Q4 figure for 2012-2013 and Q1 figure for 2013-2014?

It may be worthwhile to remind our Harvard educated Finance Minister that last quarter growth for 2012-2013 stood at 4.8 per cent and the figure dropped even lower during the first quarter of this year at 4.4 per cent. In fact, Narendra Modi was very kind not to mention the quarterly figures for this year this year, preferring to stick to the Q4 figures of last year, which are marginally better.

Question 4

Is Chidambaram aware of what economic think tanks and independent external agencies are saying about our economy?

It is not only the common man and woman or Narendra Modi that is rightly worried about the economy. Various national and international agencies of repute have expressed concern about the economic gloom prevalent across the nation? If he is not, I would love to enlighten the anti-encounter specialist Chidambaram.

Standard & Poor’s has said that the chances of India’s ratings downgrade look much higher compared to other emerging market economies. Further downgrade would even push it to ‘junk’ status. After the quarterly GDP growth at dismal 4.4 per cent, HSBC forecasted GDP growth for FY14 at just four per cent, a low not recorded since the 1990s. Bank of America went to the extent of saying that there is no hope the government can change things the way they are currently. According to the Reuters report, almost all global banks are skeptical about India’s growth prospects. Is this also the NDA’s doing?

Question 5

Does Chidambaram know where the NDA and UPA stand on job creation?

One of the factors that determine the performance of the Government is the opportunity it created for the people.

NSSO statistics (I presume they were not fudged by the NDA, Chidambaram) clearly suggest that the number of jobs created from 1999-2004 was 60.1 million whereas the figure between 2004-2011 is a poor 14.6 million (the figure for UPA 1, which PC calls the golden period growth is 2.7 million). These figures only speak for themselves!

Thus, instead of setting his own house in order the Finance Minister has done everything else under the sun. Few remember that the economic ruin of India began in 2008 thanks to mindless spending.

When the NDA came to power the growth rate was 4.8 per cent. Today we are yet again close to that figure in 2013 after a golden period starting from 1999, whose efforts were seen in the growth rate during 2003 and 2004.

Do we want to go back to 1997? And by the way, do you know who the Finance Minister that time was…

http://www.niticentral.com/2013/09/23/pcs-fake-encounter-with-facts-136593.html

--
S. Kalyanaraman

https://sites.google.com/site/kalyan97/national-water-grid

https://sites.google.com/site/indianoceancommunity1/

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Saturday, 7 September 2013

TiTanic Fa.....ll of Indian Rupee

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So what if the economy is as bad as Shraddha Kapoor’s acting, there is always hope… for the economy—not for Shraddha though, sorry doll. But right now it’s all going downhill, Rupee has fallen farther than SRK’s movie scripts, Rupee has fallen further than Akshay Kumar’s comedy, Rupee has fallen to the point where it has all of us worried whether the ‘Idli Wada Sambar’ will get more expensive and we’ll have to eat cheaper items like ‘Mice and worms’.

Although I did hear that last week the Rupee had some fluctuations. The rise and fall of rupee last week could be compared to Pamela Anderson’s…err…career.

As usual the government is doing all it can to stop this snow ball from rolling down hill. In fact just the other day they did something unimaginable! They made Dr. Manmohan Singh….Speak!!!! (gasp!). You know these are drastic times, when our PM actually gets to speak about something. He mentioned to the country that the economy is bad, which is like saying that a volcano eruption is just Mother Nature sneezing. The speech had an unusual ending though, because it didn’t end it with the usual “thik hai?”

This rupee problem has us middle class people worried, the beggars however are very happy. I bet they all sit in the night together huddled over a warm fire made by burning newspapers and middle-class people tax money, and discuss, “saala, chaar rupaye aur milte toh ek Ameriki dollar ban jata”.

It turns out that even the rich have a problem with the dollar price increase, they are not pleased with the way government is handling the issue. Now thanks to the difference between Rupee and Dollar, the rich class has to pay an extra two-three hundred rupees to get a diamond studded; platinum plated, sapphire glass covered IPhone 5! And don’t even get me started on the price of accessories for the phone!This drastic fall of the rupee can only be classified as a catastrophe. And of course as it is with all natural disasters and calamities there are always these random “experts” spawning like Frogs in rainy season, and coincidentally they also make the same amount of noise.

Apparently there are 12 year old kids on Facebook who have more knowledge than our Finance Minister. They post information of how the economy can be saved and force us to share the post like it’s a mandir ka prasad. I fail to comprehend how a boy, who thinks Manforce is a company that creates vehicles, decides he’s smart enough to post about the economy of India. But it turns out that this issue is not limited to this, there are people who have no freaking clue about the issue but are out there writing full length articles about it, just like I am right now.

The economy is slow, the government is about to keep all the gold as mortgage, Poonam Pandey has signed a new film…yes, I know things seem bad. But, I think, I have a solution. If we send enough Indians abroad to get jobs they could earn in dollars and send them back here, thus increasing foreign currency in India and in turn closing the gap between Rupee and Dollar. But this is only my expert opinion, you guys can think of anything ranging from Credit Card Fraud to Email scams to earn money for the country.

Let’s face it; we are desperate crew members trapped on the Titanic! We all know the ship is sinking, we all know that we don’t have much hope, we all know that our Lux Cozi Wool sweaters will not save us from the cold icy water. So save it, all your expert advice isn’t worth crap unless you are Superman or Bill Gates. You are not experts; you are just people on Social Media who have no life, no friends, and no other way to pass the time.

The government must be doing all it can to change the situation, because eventually all their scams will start to pay very little. Ten thousand rupees would transfer as ten dollars, and it would be a huge loss for those hard working termites gnawing away at the nation’s financial condition, popularly known as ‘politicians’. So don’t worry, they will get their act together and the country’s situation will be proper once again, because if there is no Batman, who will the Joker play with?

In the mean time, all you people on Facebook should probably start to save up your Farmville Cash! Because if rupee falls any further, who knows, they just might decide to make it our local currency. But this is only my expert opinion, because knowing the government, they’d even settle for Monopoly money since its plastic and fake—just like them!

See you fellow crew members; we’ll probably meet in the cold abyss as we freeze to death near this sinking Titanic! But excuse me, in the mean time, I must find myself a ‘Rose’.

- See more at: http://www.jammag.com/the-titanic-disaster-of-indian-rupee/#sthash.JcxmJtuE.dpuf

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Tuesday, 3 September 2013

ECONOMIC CHINESE DRAGON READY TO SWALLOW THE WORLD

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This article, though aimed at a US audience, gives a scary insight into China's growing economic power.

A Little Known Reality.

June 8, 2013. Source: Michael Snyder, Guest Post

In future China will employ millions of American workers and dominate thousands of small communities all over the United States. Chinese acquisition of U.S. businesses set a new all-time record last year, and it is on pace to shatter that record this year.

The Smithfield Foods acquisition is an example. Smithfield Foods is the largest pork producer and processor in the world. It has facilities in 26 U.S. states and it employs tens of thousands of Americans. It directly owns 460 farms and has contracts with approximately 2,100 others. But now a Chinese company has bought it for $ 4.7 billion, and that means that the Chinese will now be the most important employer in dozens of rural communities all over America.

Thanks in part to our massively bloated trade deficit with China, the Chinese have trillions of dollars to spend. They are only just starting to exercise their economic muscle.

It is important to keep in mind that there is often not much of a difference between “the Chinese government” and “Chinese corporations”. In 2011, 43 percent of all profits in China were produced by companies where the Chinese government had a controlling interest in.

Last year a Chinese company spent $2.6 billion to purchase AMC entertainment – one of the largest movie theater chains in the United States. Now that Chinese company controls more movie ticket sales than anyone else in the world.

But China is not just relying on acquisitions to expand its economic power. “Economic beachheads” are being established all over America. For example, Golden Dragon Precise Copper Tube Group, Inc. recently broke ground on a $100 million plant in Thomasville, Alabama. Many of the residents of Thomasville, Alabama will be glad to have jobs, but it will also become yet another community that will now be heavily dependent on communist China.

And guess where else Chinese companies are putting down roots? Detroit. Chinese-owned companies are investing in American businesses and new vehicle technology, selling everything from seat belts to shock absorbers in retail stores, and hiring experienced engineers and designers in an effort to soak up the talent and expertise of domestic automakers and their suppliers. If you recently purchased an “American-made” vehicle, there is a really good chance that it has a number of Chinese parts in it. Industry analysts are hard-pressed to put a number on the Chinese suppliers operating in the United States.

China seems particularly interested in acquiring energy resources in the United States. For example, China is actually mining for coal in the mountains of Tennessee. Guizhou Gouchuang Energy Holdings Group spent 616 million dollars to acquire Triple H Coal Co. in Jacksboro, Tennessee. At the time, that acquisition really didn’t make much news, but now a group of conservatives in Tennessee is trying to stop the Chinese from blowing up their mountains and taking their coal.

And pretty soon China may want to build entire cities in the United States just like they have been doing in other countries. Right now China is actually building a city larger than Manhattan just outside Minsk, the capital of Belarus.

Are you starting to get the picture? China is on the rise. If you doubt this, just read the following:

# When you total up all imports and exports, China is now the number one trading nation on the entire planet.

# Overall, the U.S. has run a trade deficit with China over the past decade that comes to more than 2.3 trillion dollars.

# China has more foreign currency reserves than anyone else on the planet.

# China now has the largest new car market in the entire world.

# China now produces more than twice as many automobiles as the United States does. After being bailed out by U.S. taxpayers, GM is involved in 11 joint ventures with Chinese companies.

# China is the number one gold producer in the world.

# The uniforms for the U.S. Olympic team were made in China.

# 85% of all artificial Christmas trees the world over are made in China.

# The new World Trade Center tower in New York is going to include glass imported from China.

# China now consumes more energy than the United States does.

# China is now in aggregate the leading manufacturer of goods in the entire world.

# China uses more cement than the rest of the world combined.

# China is now the number one producer of wind and solar power on the entire globe.

# China produces 3 times as much coal and 11 times as much steel as the United States does.

# China produces more than 90 percent of the global supply of rare earth elements.

# China is now the number one supplier of components that are critical to the operation of any national defence system.

# In published scientific research articles China is expected to become number one in the world very shortly.

And what we have seen so far may just be the tip of the iceberg. For now, I will just leave you with one piece of advice - learn to speak Chinese. You are going to need it

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Thursday, 29 August 2013

how to revive Indian economy in just three months.... pl. read

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How to lift the Rupee from its dumps..

Every news channel, every newspaper, every economist worth his/her salt has a panacea to stop the rupee tailspin and bring back some sanity. All, either shooting in the dark or vague, wishy-washy solutions – the TOI, the “world’s largest paper”, so the high priest of journalism grandly recently wrote the country needs ‘structural changes” without pinpointing what they are.

Amidst all these cacophony, only HT’s Chanakya (Sunday, 25/8/13) gives concrete steps that, to one, seem to work…

“This situation calls for a change in script. What we need are big bang measure that take effect immediately – as opposed to stpes that will begin to bear fruit six months later – to lift sentiment. Traditional monetary measures have failed and incremental steps to stop dollar outflows have proved counter-productive.

First, ban gold and silver imports (for, say, six to nine months). This will tell the world that India is serious about addressing its current account deficit problem. (Me: Gold import now attracts custom duty at about 30%. This won’t work, given an average Indian’s appetite for gold regardless of its price. By banning imports, the price in the country may further escalate.So what? Let the Indians be ready pay for it)

Raise petrol and diesel prices by Rs.4-5 per litre to help the government to pare its deficit.

Set aside $25-30 billion from India’s foreign exchange reserves to defend the rupee against speculators. (Me: This is a suggestion put forward by Montek Ahluwalia, the Dy. Planning Commission Chairman).

Settle the Vodafone tax case to signal to the world that their investments here will not be subject to whimsical and politically-motivated policy changes. (Me: absolutely spot-on. The proposal to tax Vodafone billions of dollars on their acquisition of the then cellphone brand, Hutch, from the Hongkong-based company was the single most important factor that stopped MNCs in their tracks from making further investments in the country. Our policy makers and/or the tax sleuths are singularly myopic)

Force real estate companies to cut prices to make housing affordable. This sector has linkages with more than 200 industries. And if it revives, it will set off a virtuous cycle by generating demand in hundreds of feeder industries. (Me: the real-estate companies have been exceedingly greedy and been jacking up prices every two months so much so flats have become unaffordable to middle-class buyers.)

Forget all above suggestions:

Now read few suggestions from me

1. Declare Economic Emergency

2. close all virtual markets trading in commodities, currencies. forex markets with immediate effect. No trading to be allowed for at least six months. Forex to be released to only genuine requirements.

3. Seal all foreign accounts of all the politicians and businessmen and declare the same as National property.

4. Declare death penalty for economic offences.