Analysis of Indian news dated 28-Jul-2012
July 28, 2012
NPA in state-run banks is rising because Politicians force these banks to issue loans that cannot be recovered for their vote-banks. Tax payers are being looted to satisfy the vote-banks. So shares of public-sector banks are falling, while shares of private-banks are rising.
Jairam Ramesh says that India is world’s capital for open defaction. It is a matter of shame, anguish, sorrow and anger. His solution is to reduce defence budget and use funds for building toilets.
In general, Ramesh is right. But I would expand on his idea. Open defaction occurs because of poverty. Eliminate poverty and people have money to build houses with toilets. The question should be how does India eliminate poverty?
Poverty is minimum, when economic freedom is maximum i.e. Government role is minimum. India has too many taxes and too much regulations. Hence India is poor. People cannot afford toilets in their homes; some people cannot even afford homes.
So every time you see someone defacting in open, remember it is because of Indian government policies. Remember that politicians live in palaces, have servants and multiple cars at their disposal; but yet it is not enough. I say, “NO foreign travel for any politician / bureaucrat; no air travel (travel in trains); until open defaction is eliminated” (Certain exceptions can be made by CMs/PM). Then see how fast, the problem gets resolved.
N D Tiwari (87 years) is Rohit Shekhar(aged 32 years)’s father.
Why is India poor? Politicians (even in old age) are screwing the public and abandoning offspring. So country has many bastards.
A fish rots from the head. A society degrades from the top. When leaders are corrupt, the whole country becomes corrupt.
Inflation is high; Rupee is falling.
Yet industry wants RBI to decrease interest rates; decrease bank CRR; decrease Repo rates. Industry wants more inflation because inflation transfers the wealth from savers (middle-class) to debtors (industry and government).
In 2nd quarter, America added $274.3 billion in debt and added $117.6 billion to its GDP. American economy is thus a Ponzi scheme. It will collapse sooner or later.
UN small arms treaty will take away the right of Americans to carry guns. USA government is keen on signing this bill because weapon-less citizens are easier to control.
Global warming is a hoax. Facts are being mus-interpreted so that more taxes can be levied under the guise of saving environment.
Health Canada, a governmental agency, has removed 20,000 safe and effective natural health products from sale to public. They are now promoting prescription drugs that have significant side-effects. All this is to benefit big-Pharma companies.
USA president says, “If you’ve got a business – you didn’t build that. Somebody else made that happen.”
I say, “If you’re President of the United States – you didn’t make that happen. Somebody else (banking elite?) made that happen .”
Buy physical gold and silver to protect yourself. If you cannot touch it, you don’t own it. Exit all paper investments including ETFs, stocks, PF, PPF, NSC, etc.
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