Skip to main content

Where is the change, Mr. President?

Who can forget the days in mid-September 2008 when hundreds of billions became an household word. In a world where billions still live under-a-dollar a day, Senate went ahead to give largess of unbelievable $700 billion to greedy bankers.

In many ways, this bailout, that taking money from commoners pocket to feed the rich, was inevitable. Inevitable because there was no option to decline. It was accept or you accept. The fervent pleas of Paulson and his 'dire consequences' reverberated through the air.




Billions have flown out from people to bankers, administration has changed but not the 'if else, otherwise' attitudes of lawmakers. "If you don't give up few billions from your purse whole world will be afire." Use words like Armageddon or Catasrophe in the newspaper headlines and you will get billions sanctioned. Where is the change, Mr. President?


The fact is we are all dead, it is just that they are delaying the inevitable. There is no way the world's most debtor country can lead a recovery to sanity without having to go through a rough patch called recession. And recession is something everybody is avoiding like leprosy. May be too early to judge Obama but there seems to be no major change, yet.
Labels:

Comments

Post a Comment

Popular posts from this blog

Cognitive rules of business presentations

In his recent book, Clear and to the Point, Kosslyn explained that the four rules of PowerPoint are: The Goldilocks Rule, The Rudolph Rule, The Rule of Four, and the Birds of a Feather Rule. Here's how they work. The Goldilocks Rule refers to presenting the "just right" amount of data. Never include more information than your audience needs in a visual image. As an example, Kosslyn showed two graphs of real estate prices over time. One included ten different numbers, one for each year. The other included two numbers: a peak price, and the current price. For the purposes of a presentation about today's prices relative to peak price, those numbers were the only ones necessary. The Rudolph Rule refers to simple ways you can make information stand out and guide your audience to important details -- the way Rudolph the reindeer's red nose stood out from the other reindeers' and led them. If you're presenting a piece of relevant data in a list, why not mak...
Post a Comment
Read more

Value of dollar - Part 1

A Simple Perspective Will Do The date is 2000-05-28. Don't you get tired of all the bad news bears reminding you of all these instabilities, excesses, and 'potential' tensions in the global economy? After all, hasn't it always been like that? Yes it has, but not in money it hasn't. Increasingly, investors find it harder to know where to put their savings. What about Government Bonds? Wrong. Their recent record of capital losses have wiped out your guaranteed yields, probably because the stock market keeps crowding them out, and this even in a strong dollar and low inflation environment. Furthermore, there is no reliable liquidity and potentially poor quality debt in the corporate sector. Foreign assets? Wrong. Most of the world's economies are riskier, have been under performing, and also, there is this thing called currency risk. Like how is the average person gonna cope with currency...
Post a Comment
Read more

Depreciation of British Pound 1900-2000

When the Bank of England was formed the powers to create money was finally transferred to private hands. The creation of Fed in US, was just a part of this cycle. Though it is a common knowledge US Dollar has depreciated nearly 100% since the creation of Federal Reserve, the same is the case of all the currencies across the globe. For example, below is the UK Parliament data that highlights the depreciating value of Pound.
2 comments
Read more