Robin hood also known as Prince of thieves was it classic socialist. Robin would rob rich to distribute among the poor. Socialism works similarly. Tax the rich and subsidize the poor.
Industrialist and arms dealer:
Human beings evolved from a primitive community of hunters and gatherers. When hunter decided that instead of going for hunt it will sharpen the old tools and create new tools which would then be exchanged for the hunt carried out by others. This was the birth of the first industrialist as also the first arms dealer in the world.
Growth slumps to 4.5%:
At 4.5% growth rate in last quarter was slowest in last 6 years. The bigger question is whether it is the bottom or will it fall further. Debates are going on Television but the two debates I listened missed a few points. All the talk about fiscal stimulus and monetary policy is fine but human behaviour is even more important. The fundamental aspect is that the structure of economy of India is fundamentally different. 80% of economy is enterpreneurship and almost informal. The companies listed in share market, limited companies, registered LLP etc are just balance 20%. No country has this structure. Now that fact is established, let me list my three points:Flood:The last quarter saw flooding in low lying areas of nearly all big states. It was the worst flood in 25 years. Flood do affect economy. It lowers consumption. It slows down manufacturing. Mining activities are worst affected by floods and accordingly mining saw negative growth.
What drove growth:
Parliamentary democracy has another problem. When opposition decides to oppose anything and everything, the Parliament becomes irrelevant. As it is happening this year, the affair of budget has shifted out side the Parliament. Finance Minister may have read budget speech in July in Parliament but it was far from over. Amid slowdown, which is partially cyclic, Finance Minister had been making hectic consultations with different section and announcing a slew of relief from tax, every week. This weekend however arrived with the big icings on the cake.
Reduction in Corporate Tax:
Globalization was never true:
The newspapers are gaga over a statement at recently concluded G20 summit that USA and China will sit and talk and would not impose fresh tariffs, for the present. The last part itself clarify that move is temporary. Actually the Globalization was stillborn. It was pushed out of desperation of stagnant economy of USA and Europe. Now that both have seen an upward trajectory, globalization has taken a back seat. Further the economic cost of low tariffs and high budget deficit has forced USA to rethink. (Sorry to disappoint those who blame Trumpocalapse) USA with its 1 trillion dollor deficit and debt to GDP ratio of 70% is no more a fianancial super power, it was about 30 years back.
History has a tendency to repeat itself.
History repeats due to ignorance of majority of people or not but the fact is that it repeats itself; even if it does not repeat at the same place. It is therefore important that we study history of the entire globe especially of India which is at a war for survival of its civilization for last 1000 years. In many ways, the war is still going on.
At the outset, please do stop sending money to India. As a matter of policy India stopped taking foreign aid two decades ago. But many Governments and agencies send money to NGO’s in India for specific projects. Not all money is spent on right purpose.
The biggest headache is the money sent for one purpose but used for CONVERSION to Christianity. Poor people allured by brute power of money start wearing cross and worshipping a deity of Jesus in place if traditional deity, not even knowing what it means. BTW the Jesus in India, is often sitting in a YOGA posture.
In past few years GOI has cancelled accounts of all such NGOs which had not filed the accounts of money received and expenditure thereof. But NGOs misreporting or cooking books are yet to be caught.
This was about aid to private agencies in India. Aid to a private agency is not the same as Government of India.
Why India doesn’t accept aid from foreign governments Continue reading