As it is becoming clear, banks are being bailed out by governments.
And governments bail out banks simply because banks use the money of its citizens.
A bank just does not have enough of its own funds, but is more of wheeler-dealer, now this operation is called treasury; the bank actually plays with its deposits and credits.
As credits of the bank are nothing but the deposits of the people in effect the money of the people. The bank is the dealer(as in wheeler-dealer), now called intermediary.
And there will come a time when a thief shall be called a borrower.
coming back..., governments are set up to protect and safeguards its citizens/ people, so if these citizens are harmed in any manner economical or physical, the governments can be sure that in the next election these citizens will keep them out.
So the governments interest is the citizens interest and this is served by bank bailouts.
The key point is the bankers are the ones getting the free lunch.
The bankers manage business and they do fine and if they do mismanage business they are still fine.
I am sure somebody pays.
Someone is being short-changed.
A moot point is, why was there no Enron or Tyco bail out, but there is a bank bail out by the government.
Tuesday, April 22, 2008
peanuts
peanuts, that what you get when you travel by air in the US.
Maybe what the folks here need is some education in Indian hospitality.
We have a number of airlines now doing the same in India too, a pointer if you give peanuts you will get peanuts. How much does food really cost for an airline?
I doubt it would be more than 10 dollars here in the US and in India not more than 3 dollars.
Maybe it is the serving cost, well maybe it is, then we need to do away with the flight attendants, and not the food.
Or rather the only duty of a flight attendant is service, if you take away the service what need is there of the server.
Maybe what the folks here need is some education in Indian hospitality.
We have a number of airlines now doing the same in India too, a pointer if you give peanuts you will get peanuts. How much does food really cost for an airline?
I doubt it would be more than 10 dollars here in the US and in India not more than 3 dollars.
Maybe it is the serving cost, well maybe it is, then we need to do away with the flight attendants, and not the food.
Or rather the only duty of a flight attendant is service, if you take away the service what need is there of the server.
SSSS
If you ever take an e-ticket in the US, and happen to be stuck with an SSSS imprint on it.
Beware, it means added security clearance needed.
On one of these trips, I ended up with an SSSS tag on my eticket.
And why, well because the airline felt that I need to have added security clearance before I got checked in.
And how did the airline come to this decision, actually I don't know, all I forwarded was my credit card at the electronic machine.
Maybe it reckoned my Credit Card was Indian, which would have been out of the norm compared to the several other swipes it had taken of other credit cards and felt I needed added security clearance.
My point, don't make a machine do a humans job.
I am just wondering how does a computer differentiate a patron from a security risk, it however does identify a shift from the norm but it is still incapable of calling a shift from the norm a security risk.
Beware, it means added security clearance needed.
On one of these trips, I ended up with an SSSS tag on my eticket.
And why, well because the airline felt that I need to have added security clearance before I got checked in.
And how did the airline come to this decision, actually I don't know, all I forwarded was my credit card at the electronic machine.
Maybe it reckoned my Credit Card was Indian, which would have been out of the norm compared to the several other swipes it had taken of other credit cards and felt I needed added security clearance.
My point, don't make a machine do a humans job.
I am just wondering how does a computer differentiate a patron from a security risk, it however does identify a shift from the norm but it is still incapable of calling a shift from the norm a security risk.
Friday, April 11, 2008
sockets and switches
I just happen to notice, electrical sockets in USA do not come with switches. However back in India, every electrical socket come with a switch to allow current to flow from the socket.
Maybe we Indian like to be better safe than mistaken.
Maybe we Indian like to be better safe than mistaken.
Monday, April 7, 2008
squaring our accounts with the west
There has been foreign exchange inflows into the country since sometime now.
Though these exchange inflows are in part dollar earnings and foreign remittances into India there have also been a interest in terms of investments by foreign MNC's in India. Foreign MNC's looking at investing in India bring in foreign capital.
The recent acquisition of Tata - Land Rover and Jaguar is but a change of interest from exports to imports. Which is in effect taking foreign exchange to those countries for the acquisitions.
Exports bring in foreign remittances, while acquisitions take back the foreign exchange to these foreign countries.
We seem to just balancing our book of accounts in the longterm.
Exports does finally lead to imports, in the sense that dollars earned in early stages are finally used to acquire foreign companies themselves in the later stages of the developing economy.
Exports began for us around 1991, in 2008 I think we are looking at Indian acquisitions. 18 years to balance our books.
I guess the furore we hear about call center jobs going to India, will I reckon lead to Indian call centers acquiring foreign firms. I reckon it may not take 18 years to balance that account probably lesser, about 9 years.
Would be interesting to know how long this phenomenon takes, but equally interesting is just as westerns are now making space for Indian and Chinese companies on the world map, whom would the Chinese and Indian vacate space for.
Come to think of it, all empires come to an end.
Rome came to an end with the fall of Constantinople, a time span of close to 700 years. In the 21st century this span has drastically fallen. Maybe to around 50 to 100 years.
Though these exchange inflows are in part dollar earnings and foreign remittances into India there have also been a interest in terms of investments by foreign MNC's in India. Foreign MNC's looking at investing in India bring in foreign capital.
The recent acquisition of Tata - Land Rover and Jaguar is but a change of interest from exports to imports. Which is in effect taking foreign exchange to those countries for the acquisitions.
Exports bring in foreign remittances, while acquisitions take back the foreign exchange to these foreign countries.
We seem to just balancing our book of accounts in the longterm.
Exports does finally lead to imports, in the sense that dollars earned in early stages are finally used to acquire foreign companies themselves in the later stages of the developing economy.
Exports began for us around 1991, in 2008 I think we are looking at Indian acquisitions. 18 years to balance our books.
I guess the furore we hear about call center jobs going to India, will I reckon lead to Indian call centers acquiring foreign firms. I reckon it may not take 18 years to balance that account probably lesser, about 9 years.
Would be interesting to know how long this phenomenon takes, but equally interesting is just as westerns are now making space for Indian and Chinese companies on the world map, whom would the Chinese and Indian vacate space for.
Come to think of it, all empires come to an end.
Rome came to an end with the fall of Constantinople, a time span of close to 700 years. In the 21st century this span has drastically fallen. Maybe to around 50 to 100 years.
Tuesday, April 1, 2008
prime minister hopeful
the leader of the opposition party and prime ministerial hopeful has released his memoir titled 'My Country, My Life'. Why would a prime minister hopeful do that, I mean in the sense memoirs are after a life of accomplishment and here Mr L K Advani is still a prime ministerial 'hopeful'.
He has been a Home Minister when his party the BJP did come to power in 1997, if I can give him that leverage of accomplishment or perhaps it is the sign of times, Mr Advani is 80, maybe he is not as daring or raring to go. Age does catch up on you, you know or maybe he has resigned to fate on the cognition that he is not going to get a chance at the PM' seat in this life time.
Anyway at his book reading in the city he had the opportunity to read a couple of lines from his book. And he turns to a chapter and paragraph and reads out a passage from his book but is actually a quote from another author; which is kind of novel or esoteric, an author reading out a paragraph from his book but quotes a passage from another author's work, at his own book reading.
Maybe Mr. Advani has seen the writing on the wall, he probably will remain a PM hopeful, that is fate and the book reading would have been just the sign of despair of that fate.
He has been a Home Minister when his party the BJP did come to power in 1997, if I can give him that leverage of accomplishment or perhaps it is the sign of times, Mr Advani is 80, maybe he is not as daring or raring to go. Age does catch up on you, you know or maybe he has resigned to fate on the cognition that he is not going to get a chance at the PM' seat in this life time.
Anyway at his book reading in the city he had the opportunity to read a couple of lines from his book. And he turns to a chapter and paragraph and reads out a passage from his book but is actually a quote from another author; which is kind of novel or esoteric, an author reading out a paragraph from his book but quotes a passage from another author's work, at his own book reading.
Maybe Mr. Advani has seen the writing on the wall, he probably will remain a PM hopeful, that is fate and the book reading would have been just the sign of despair of that fate.
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