21 October 2008

chapter 11

**if you think that the country is in financial bankruptcy, it is much worse, the country is morally bankrupt. Neel Kashkari is heading the$700 bail out company, "Kash and kari" ltd.

**it does not matter who wins the election. Mc Cain or Obama. the tax structure will be higher. residents will be paying more for basic necessites - groceries, gas, healthcare, clothes and decent education but the Wal-mart culture of the american psyche will definitely change.

**if the financial pot has melted so be it, can the earth be saved? it is october here and i go out without a jacket. nothing is as grave as an issue than climate change, which will bankrupt generation after generation.

**How soon power outs, water cuts will become a norm only time will tell.

**5 people for the same job. Educated unemployment is on the rise.

**1 out of 10 people do not have health insurance. And if you do have health insurance the hospitals and the doctors clinics wring you as much as possible. Never ending line of tests and suddenly you are sick forever ! Anybody's savings are deposited at the Doctors cash counter.

**The bust cycle is the only one constant in the country. Starting with dot com bust, followed by Enron and the MCI scandal, housing bubble and so on and so forth...

** when race and ethnicity becomes the deciding factor in Universities, schools, corporates and Power, the cerebrum is working at the lowest point. Insecurity dominates the policy maker and the decision makers.

**Lies and Misinformation are the hall marks of the News Agency.

**University education is equivalent to buying gold and the ROI is skeptical.

Who will bail out now?


Vinod_Sharma said...

An, Powell just called Obama a transformational leader...I don't know why but I'm beginning to feel that he is heading for the biggest ever win in the history of the US...those polls are underplaying his margin. it is actaully a 'no-contest'. What do you think?

The bust cycles are probably due to profligacy and a cockiness that no one can do it bigger and better than the Americans, costs be damned. You are right. That psyche is going to be altered forever.

Vikram said...

Anrosh, warming is only part of climate change and its only projected to be about a 2 deg C over 40 yrs. The real threat to the bulk of the world's population will come from the increasingly erratic weather events like storms, floods and droughts. India is especially at risk because as it is the monsoons are extremely erratic and India's climate is extremely harsh to begin with.

You probably know this much better than I do, but free market economies go through boom and bust cycles all the time. There is a very famous 1947 paper by Joseph Schumpeter on this., called 'The Creative Response in Economic History'.

Its funny how a 700 billion dollar bailout for incompetent bankers is not an issue but a loan waiver for farmers was considered a waste of money.

Anrosh said...

Hello Vinod, Colin Powell endorsing Obama was huge - mainly for right wing leaning guys to sit up and listen. Not surprised coming from Powell.After all he did not agree with going to war, but being under the Bush government, he had to be obedient to Bush and company. This last straw of endorsing Obama by Powell comes was a clever strategy move by the Democratic party, because that will not leave much time for the republicans to playing the rhetoric game well since the elections are so close.
The war is replaced by the financial bail out in everybody's mind.
So now it comes to who can be the best representative of the electorate. Come on who I am kidding - Who is best at fudging the votes (let's get real).Some right wing states (historically) are leaning towards left and vice versa.

Hello Vikram, I never heard India even giving importance to such things as climate change even now. At a conference held last year some financial guys (sister concern of standard poors in india )claimed that getting India upto par with America on the economic front is more impt than focussing on climate change!!

and as far as bail out goes, there is a saying which goes something like this - Rich men are always on a roll, while poor men crawl.

Vinod it is always great having you comment.
Welcome Vikram.

Mavin said...

The cycle is changing.

The entire structure of the American society has been faulty. Emphasis on conspicuous consumption and widespread acceptance of household indebtedness as a way of life is now taking its toll.

Further, education has never been a priority and large parts of the population has never got beyond basic education. This is creating a sense of hollowness which is being filled by expatriate professionals.

The time has come to pay for all these years of wrong policies. The period ahead will be most painful as the American society has lost its capability of hard work and to face adversity.

corine @ hidden in france said...

May be it will take economic bankruptcy to wake up to the mess humans have created. I'm an optimist. At least an optimist long term, for the future of Earth. Human only start revolution (hopefully here a green revolution) when things get unpleasant enough.

Now if Obama doesn't win, the denial will go on for 4 more years, because the wrong solutions will be implemented.

Anrosh said...

Mavin, the credit card economy helped the country to have a circulating flow of money and got caught in its evil clutches. Their policy was to hire the best and the brightest from the other parts of the world..little did they know that their larger part of the human capital will become intelligently frail and the dependence will continue. Part of the policy of the good for some time but some where the government policies stopped paying attention to what should be done to the education system the school system is highly skewed and extrememly expensive for decent education. every policy works for some time and it has to change when it has stopped producing the goods. the same is the case happening to india..the SC's and ST's filling up quotas in central government hospitals and universities like IIT. the quality won't be noticed until after a certain period of time when the system will be paralyzed. political pressure and wrong affirmative action will only break excellence. may be in india they should not implement the quotas in certain institutions ( well, that's a long discussion)..

hello corine, optimism is the foundation of all human growth and existence. it is the hallmark of development and so we will continue....Green revolution it is. I bet.

Thank You guys for your comments. it always helps me to get another perspective.

Georg said...

Bonjour Anrosh,

At the end of your post you mention ROI: what does that mean??


Anrosh said...

ROI =return of investment

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