Monday, March 30, 2009

Nothing logical or scientific about Economics or Economists

I am really fed-up with economics and economists. They just can't seem to be able to make up their mind on what is the right thing to do. They almost sound like an old-boys-club for rich people. Take following as examples

  • When Government of India declares loan waiver scheme in 2007-08 for farmers a majority of whom can't repay their loans because of failure of crops and other reasons, everybody is up in arms. Everybody starts talking about how it is the worst thing to do. When President Obama talks about trillions of dollars in bailing out US banks who are essentially private enterprises and they are in trouble because of their own mistakes all of a sudden it becomes a prudent economics. So somehow it seems that bailing out really poor private citizens is bad while bailing out private enterprise is good.

  • When GoI talks providing stimulus to economy, S&P and their friends worry about fiscal deficit while when same things is done by US government it seems to al right.

May be nobody just has a clue and they just keep on propounding their favorite theories till the time these are debunked.

Tuesday, March 3, 2009

India's horrible neighborhood

As I watch this news update by the NDTV and The Times of India, I come to know that Sri Lankan cricket team has been attacked with guns (probably grenades etc. as well). This again brings out the fact that we live in extremely dangerous neighborhood. Our neighbor have just descended into anarchy. If the country's security apparatus can not guard a cricket team which, everybody knows, is under threat, then one can only assume that there is not control in the hands of police/military.

I have always believed that societies would have to pay for ignoring troublesome elements in their midst. I think it is about time that societies that harbor dangerous elements are asked, they either need to get rid of these elements or they have to pay the price for letting these elements exist.

Hopefully the world will realize, what India has veen saying for all these days and do something about it. But I know that everybody is looking after their short term gains and unless this problem becomes their problem, nobody is bothered.