Monday, September 15, 2014

Unauthorized views - 100 Days of Chicanery ....

                    There is a Joke going around in the virtual social spaces that if it comes to allowing the PR machinery that catapulted Mr.Modi to be the 15th Prime Minister of this country it would have very much liked to ascribe the winning of the US open by a Japanese to the unambiguous effect of  Mr. Modi visiting that players island nation, though it seems like the Japanese weren't much impressed by our Prime Ministers effort to be a crowd pleaser which is very much underscored by the very little that Mr. Modi has been able to achieve through his recent visit to Japan and also by the very little that Japanese media had to say about Mr. Modis first ever visit to japan as Prime minister of the worlds largest democracy. But, the media over here wasted no time in placating an expansion in the industrial output in the month of June as the result of Mr. Modi becoming the prime minister giving way to a new economic theory called the "Modis effect" which defies all the logic behind the science that has formulated many postulations which remain till today as the guiding principles for all and any kind of transaction that involves the consumer, the seller and the market, and its quite interesting to note that the very same media just dint know how to react to a drop of 0.5% in the industrial output in the month after, even while the stock market's were reaching for the skies. While its no secret that it took nearly 4 months for the previous government to reign in the gold imports which was weighing heavily on its current account, one obviously would like to see people of some repute in the financial media industry to recognize this aspect of time that separates two nodes one being the policy implementation and the other being its outcome before providing their blunt views related to economic affairs.
                       In the years after 2010 that led to the showdown in which BJP emerged with a thumping majority it has to be noted that our country was running current account deficit month after month and year after year even while it sporadically managed to run balance of payment surpluses Clearly indicative of the fact that we were running capital account surplus during those periods. Recently Global financial integrity came out with a report stating that in the year 2011-12 alone around $ 85 billion of black money has moved out of the country, if one were to take this little piece of information and put it in the context of trying to understand our huge current account deficit in the same period one can safely attribute it for the most part to the over invoicing of the imports. The kind of policies that this government is spearheading is no different from the previous governments, and so will have no particular effect on the real economy so to say if substantial efforts are not made to create real jobs that are the results of capital expansion and capacity expansion leading to an increase in the over all median wages (not the average wages) across all sectors, Government has to take active interest in maintaining a balance between the farm subsidies and subsidies that are given to industries which provide the farm inputs in a way that it doesn't become detrimental to the profits that the farmers can make, Governments inability to address this issue which affects over 60 % of our population has been one of the main reasons why we have so much of farmers getting trapped themselves in debt. And one very important question that every citizen in this country needs to ask is why has this government not taken any steps to become the trustee of all the offshore Bank accounts held by Indian passport holders in the tax havens by nationalizing them, if Mr. Modi can do that he wont have to go around the world seeking economic corporation from other countries for the rest of his tenure. Government cannot keep depending on giving up its stake in public sector units to fund its deficits year after year, killing the public sector in its entirety would be detrimental to the free market economy itself which is a topic in itself to discuss about, and its a view that i have contrary to the present larger understanding which the neoliberal free market economists have been able to establish. The immediate responsibility of this government  has to be to check the rate at which the indian finacial sector has been adding bad loans to their balance sheets, and more importantly India cannot afford to be a pushover anymore, it has to protect its interest at all cost if it wants to become a vibrant manufacturing hub. 

Sunday, July 27, 2014

Mobster.. Fraudster... Bankster.

Would i hedge against
the towers that are crumbling
in which i dwelled for years,
which sort of destroyed
the old mighty Kremlin
along with its spires,
the towers that once stood
mighty and tall
on the street named wall ,
even while it
threatens to wipe the meek
earnings of the young joes and all,
 knowing well that, to do that
 would mean to be
 being meaner
 than to maul,

Oh ! why would i care,
was i not the one who led
this entire thing to be here,
Well, i care not to guess and
i am sure you know me
by now to the bare,
that i am just not your ordinary banker,
i am what they call
the wall street banker.

Profits is what I would die to make
even while things seem huge
that are at stake,
like the pensions that people hold dear,
i treat them like they are already mine dear
Pocketing them as my  huge bonuses
even while i keep inducing
my books
quarter after quarter, year after year,
only with losses,
since the great debacle of 2008
which sure did matter,
and that’s why i decided not to create assets
as it dint pay much than to sneak my hands
into the ordinary blokes pockets,
and that's how i still get to keep
the porches and my private jets,
and that’s why
I am not your ordinary banker
i am what they call
the wall street banker.

I securitize your mortgages,
calling them as debt obligations
knowing well that,
they would all end up as
collateral’s causing more damages,
and that's why i hedge against them
for well i know they would
end up as i expect them,
and that's how i wipe all the taint
off me,
by not wanting to be a saint
which is not for me,
and dying  to make profits for sure
which exactly is just me.
and that’s why
I am not your ordinary banker
i am what they call
the wall street banker.

while wells fargo is busy lending
sub-prime auto loans,
i am hoping to see it soon load and get blown
for i see there a chance for me to hedge,
the chance that i created for myself
by bringing it to that edge,
and that's why i am not your ordinary banker
i am what they call
the wall street banker.

I kick the LIBOR rates around,
even as Barclay's and banks of all the royals
in Scotland and England
would swear by on all accounts,
that this game is being played fair,
though they might give in a bit
when forced to confront the court's
and other such affairs,
that at times it involves
the twisting of the arms
of the meager players around,
and the bending of the rules
to wrestle everyone to the ground,
and yet they would maintain,
what's being payed is nothing but a fair game
a stance that the likes of me would only acclaim,
as the bail-outs have become cliched,
in comes the bail-ins in a sleigh
to hot things a bit in the game,
where no one gets to hide
under their own shade,
because this should be the game
where i always should be winning,
and the ordinary Joe, which is you,
should always be losing,
and that's the only reason
i ever chose to be a banker,
and to make the likes of you 
call me
The wall street banker.

Wednesday, July 2, 2014

Seriously Speaking - It feels like a Deja vu

                  How would you describe a government which after having promised the moon crash lands the dreams of millions into the pit where it becomes even harder to get paid to own the basic needs leave alone owning the inflation?, Capricious, inept, deceptive, Incompetent, whatever be the word that one may choose to use it would be right in describing this new government which is on a spree to fix the fiscal fallacies at the expense of the gullible ordinary people of this country who are being made to believe that spending more would result in the betterment of the services provided by the government, while the fact remains that its just an effort on the part of the government to make the people acknowledge that the money that they have will buy less than what it used to yesterday. In the slew of measures adopted to make the balance sheet of The Indian Railways look good the newly elected government instead of showing proclivities towards choosing to do away with inefficiencies chose to raise the fares by 14 %, inefficiencies that have been plaguing for a long time at every level, starting with nonexistent efficient traffic flow analysis that could be translated into efficient resource management to not doing away with the outdated factious three tire structure on departmental lines which have been weighing heavily on the performance of the state owned enterprise, the government should have looked into the real issues to arrive at real solution's. But Nope, it had promised the moon so it had to come up with a brilliant idea to make people get used to the fares it will be charging while it really starts sending them to the moon. This 14 % hike in the fares might end up adding more or less 8,000 crore rupees to the state enterprises kitty which on the whole generates an annual revenue of 1,20,000 crore rupees, this meager addition to its kitty will have no impact on its entire outlook if it chooses to ignore the anomalies or inefficiencies and sticks to the established huge bureaucratic structure.                                            Governments across the world which have been elected democratically when forced to confront the realities of the after math of major financial crisis's, whether it be the 70's secondary banking crisis or the mid 90's Asian crisis or the recent sub prime crisis which resulted in the undoing of the hegemony of major financial institutions have all adopted a common stance of fiscal prudence initially only to indulge in fiscal profligacy during the latter part of their tenure's. And so now while this Newly elected government keeps itself busy by raising import duty on sugar, and prices of diesel, petrol, LPG cylinders and of various other essential commodities adding to the burden of all ready thinly stretched finances of ordinary house holds in this country, one wonders why this government has not been proactive in taking any kind of concrete measure to recover the illegal wrongful and irregular expenditure made by Reliance industries limited to the tune of 1.8 billion $ ( more or less 9,000 crore rupees ) when it went about drilling for gas in the KG basin. Further more Reliance industries limited has been very adamant in not furnishing the records for these expenditures to the Comptroller of Auditor General, in a country where an NGO could face cancellation of its FCRA registration and could have its bank accounts frozen for not furnishing records for a mere 2 lakh Rupees, this government seems to be dillydallying with a huge smile on its face about what it should be doing with a company that has openly flouted the Norms and the laws of the land, even while being aware that Reliance industries limited is sitting on a huge cash pile of 80,000 crore Rupees. How should one construe this?, Should this be construed as the rap on the head of that ordinary citizen who voted for this government in response to the democratic right he was called to exercise, and as a mean conviviality to oblige him in return with a government that has the kleptocratic and oligarchic signature all over it which sure seems like would only aim to legitimize the ill ways of crony capitalism.
                       Though the BSE index has been gaining new ground since April and has almost soared 14 % the Real inflation figures for the same period have been hovering dangerously at around 10 %, clearly indicative of the fact that cheap money is being herded into the speculative market's not based on the underlying strong economic developments but rather based on the need to boost the prices of certain assets as a way to hedge against the risky ones that firms and companies hold in their books, and that's quite the reason why Despite the euphoria in the financial markets there have been very little investments made to add new productive capacity, almost all the major firms are preferring to buy back their shares and are engaging in mergers and acquisitions and continue to increase their debt in spite of  the lackluster short term prospects. This and the recent fiscal deficit figure of 45.6 % of the budget only points in the direction where there is going to be no respite from the inflation anytime soon even though the government has been making it clear about the step's that are being taken to cull the spiraling inflation. A lower inflation figure would mean higher servicing cost of government debt, and the other privately held debt, which in other words mean that government might be proactive in trying to keep the prices of a basket of food items a few notches down but wouldn't be as proactive as it should be in curtailing the cost of commodities, industrial raw materials and farm inputs, which goes on to say that people will eventually realize who will be footing that bill ultimately and when they do they will curse their moon and stars. Dreams and promises can be sold like a product but once they have been bought they don't behave like one, for ideas and promises to become realities it would take more than the efforts put in by the multi crore propaganda machinery to broadcast those ideas and promises through every available medium, it would take more than the effort of using politics of resentment to further ones own political agendas, it would take more than a mere effort of carpet bombing marketing exercise of an unprecedented scale, it would take an enormous will to generate profits not at the cost of the gullible people but at the cost of expanding economic activity, increased savings rate and median wage. 

Friday, May 16, 2014

Dance of Democracy - When good sense failed to Prevail.

                       16th May 2014 will go down in the history of Indian elections as the day when Propaganda won over good sense, 2014 Lok Sabha elections no doubt is India's first intensively televised election, which leaves many uneasy question's that needs to be answered by the media first and then the parties who have funded this entire grandiose exercise using questionable resources. All that one can expect now from the newly elected government is to see it exhibit right intentions and vigor in taking forward this nation of 1.25 billion into the future it has been promised.

Tuesday, May 13, 2014

Dance of Democracy - Seriously Speaking.

             The greatest trick  a proponent of kleptocracy can pull on anyone is to make him or her believe that he is the change, and the masses perennial clamoring for change at times give's Such venal vermin's the chance to cast their spell which appeals only to the naivety of the masses as it is oblivious to the facts that would accompany change, for change can happen only when there are reason’s and those reasons  can hardly be entertained to arise out of the masses understanding of the inconsistencies which they have been putting up with, as it should be the case, but that would become detrimental to the efforts made by the vested interests. So it is made to arise out of the masses naivety which is rooted in their gullible nature which seeks not the ability to inquire but an illusive perception which seeks to perceive the claims or promises that are being made about providing better infrastructure, better schools, better hospitals, price control of essential’s as good as of those promises that have been delivered upon, that’s the kind of effect a venal politician aims to inflict upon the masses when he chooses to position himself as the change with the help of the effort's put in by his entire propaganda machinery to win in an election. Does this seem like a familiar story ?, then it must mean that you don't belong to the pack.
                     Promises of Good roads, schools, hospitals, jobs, industries, farmer welfare schemes, electricity, piped water connection, affordable higher education, reservation for minorities, eradication of malnutrition and child labor, upliftment of the poor, empowering women, eradication of female infanticide are the promises that most political parties did make in the elections conducted way back in 1952, the funny and as well as the sad truth is those promises still remain as promises worth making to win votes even in 2014. Indian rupee has been steadily losing its value against dollar since the day our government decided to devalue it in 1966 owing to external pressures, in contrast the prices of the essential commodities have been steadily increasing leading to a ripple effect resulting in price escalation of every known useable item whether its perishables or durables, the life cycle of the perishables have been going up but still we have thousands of farmers who not being able to meet their debt obligations are committing suicide, on the other hand the life cycle of the durables have been steadily decreasing and yet it seems to have little or no effect over the profits determined by the consumption pattern whose function is predetermined by the need to economize. The fact of the matter is in 2014 there are 330 million people in this country who have no access to any kind of amenity which would make their life comfortable as it was promised to them by the politicians who fought way back in the 1952 elections, This raises many questions about the sensibility of the Indian voter leaving aside the conniving spirit of our political honchos which has always tried to capitalize on that sensibility, looks like the Indian voter is content with the promises that are being made to him every 5 years.
                               It is quite disturbing to see how naive most of the citizen's in this country are if one were to take the Exit poll's seriously, the poor beings that we already are don't even have the middlebrows capability to have a composite understanding of what it mean's when 30,000 crore rupees gets spent in the name of elections by those who are fighting the elections, we gullible beings expect all those people who have invested such huge money to do good to us just because we went to the polling booths in droves to cast our votes, if only we had the understanding of what and how a change would look and feel like we wouldn't have got swayed by the most elaborate marketing exercise in the recent times which through every instance aimed at positioning Mr. Modi as the change, If we really want to know how change would look like we have an example right next to us in the form of China, in china since the day Mr. Xi Jinping who is 60 years old now took over as its president 2 years ago has been going after corrupt low level government officials and top members of his Party's Central Politburo Standing Committee, in the last one year alone around 54 top Chinese government officials have committed suicide or drank themselves to death, the recent one being Zhou Yongkan one of the most powerful man in china he has gone missing, his illegal assets worth 15 Billion $ have been frozen by the Chinese government, and now here in this country people like you and me, people who are gullible and who have very little understanding of democracy have persisted long enough under the influence of multi crore " Modi Advertisements" with the notion that this nation's decisions be left in the hands of men like Mr. Modi who even before assuming power had asked corrupt venal vermin's like Mr. Yedurappa and SriRamalu who have looted this country's natural resources left right and center to help him win the elections in the state of Karnataka, is it any wonder, saddled as we are with our present parliamentary system, that we are unable to find any solution to our many difficulties? and we are still left with 330 million people who live in unimaginable conditions, Why, placing this tedious democratic exercise aside we may as well ask a committee of robbers, dacoits & murderers union to run the affairs in this country.

Saturday, April 26, 2014

Dance of Democracy - What they wont tell you.

               Here is a man who has strived enough to get through school in order to make himself capable enough to get into IIT and then this man here takes up many high paying jobs which allows him to become somewhat settled in his life, at one point he takes a decision to change the affairs this country has been putting up with and starts to raise many questions in the name of ordinary citizens because he understands those problems better than your usual politician does. At first he is one among the many so they don't bother about his questions, then he becomes prominent and raises many more uneasy questions which they just ignore, but when those questions become so uncomfortable for some and realize that many have started to ask the same questions, they retort to those questions by talking about the person who has raised those questions, they say that you cannot ask those questions because you are not an ordinary citizen, you are an anarchist, you change your mind every now and then, you just drop things as they are and don't see them through the end, you cannot speak for the people you say you are speaking for because you are not one of them as you are now staying in a 85,000 rupees rented apartment, they say you are a liar, you just accuse and don't prove anything. And meanwhile the gullible people that we are miss the whole idea and start to question the person instead of pondering and seeking answers to those questions which has been raised by that person.
                   The recent deluge of accusations that have been hurled against AAP and its leaders are attempt's to push the masses towards that direction, its an attempt to divert peoples attention from the real issues, its an attempt to make people concentrate on the messenger rather than on the message. Because they know that its easier to kill the message by killing the messenger than to kill the message itself. They wont 't tell you how Mr. Kejriwal can afford to pay 85,000 rupees as rent and why he cannot move out of the house right now in the midst of his busy election campaign schedule, They wont 't tell you why they called the toppling of a few metal detectors by the sudden surge in AAP supporters exiting a railway station as " vandalism " while they called the throwing of Chappal's, lattis and chairs against the police by hundreds of BJP workers in a rally as just " Commotion ", They will tell you that when a chief minister of a state indulges in a protest as a last resort in way of finding a solution to the reasons that drove him to protest is just not right and hence its Anarchy, but they wont tell you to look into that part of history where in a few take a controversial political stance knowingly and make a Rath yatra just for the sake of being in the headlines and in the process they create a huge communal divide in this country which would lead to a chain of dreadful events starting with a Mosques demolition, followed by several bomb blasts, and several terrorist attacks, and several communal clashes ending up in the deaths of children men and women in thousands, when one looks into such a history the question really arises in ones mind is protesting based on legitimates reasons to find solution's Anarchy or its creating a political climate which leads to killing of thousands of innocent men women and children. Everyone one who has ever been up against the might of the wrong have all had to face this kind of persecution, every leader who has ever had the chance to put himself or herself to test have all had to face such persecutions, Nelson Mandela did, Mohandas karamchand Gandhi did and so will Mr. Arvind Kejriwal.

Dance of Democracy - What should really matter.


              Its a shame that we the people of this country even after having the tendency to blame venal establishments, corrupt politicians, inefficient government machinery, unthoughtful government policies for all the ills this society puts up with day in and day out we have very little understanding of what we  actually are blaming about and what it takes to be successful in Indian politics, more so we have very little understanding of politics itself. Its an undeniable fact that Money is a huge enabler that allows one to gain traction in Indian politics, and where and how one gains that money determines ones " true political agenda ", if only the so called masses whose verdict is seen as a dictum of our collective democratic right arised out of the infallible thorough nature of our powers of observation as it would be in the case of an assumed ideal or hypothetical world, we wouldn't have had the misfortune of coming to terms with our own inabilty to make the right choice's which has allowed criminals, murderers, rapists, decoits, kidnappers fill up our parliament, a recent finding shows that one third of our parliament is filled with men who are of dubious nature with serious criminal charges against them.
               If only people had the brains to work out the cost behind vote seeking advertisements that the political parties have been bombarding the masses with through every medium thats available,  if only they had the brains to workout the cost of BJP or congresses 30 second advertisements during prime time television shows people will be dumbfounded and will be forced to ask themselves how on earth these political parties happen to have so much - So much of money at their disposal considering their 97 percent of cadres are people belonging to the lower social strata, and why on earth these political parties spend such HUGE MONEY in order to make their reach wider leave alone them spending money on Smearing campaigns which ridicule other political parties, People don't have the time or the will to find answer's to such important question's but these very frugal minded nitwits or dimwits or whatever, who after listening to relentless propaganda and lies about AAP being Anarchic, and the B- Team of so and so party have all the time in the world to worry about Mr. Kejriwals 5 Bed room flat, or of him having not vacated his government accommodation just after demiting office, or for that matter the assaults he has been through during his road shows, were they staged or not?, With such important question's occupying our small minds all the time we wonder why on earth we are not able to do something about the 30 crore people in this country who go to sleep empty stomach every night in the hope that they will wake up to a new beginning one day.