If you've got an LCD screen, try this one: If you look at it from above, looks more like dawn, but if view it from below, it looks like dusk. Sorry for the bad quality, my mobile camera is really a joke.
Friday, March 6, 2009
Sunlight
If you've got an LCD screen, try this one: If you look at it from above, looks more like dawn, but if view it from below, it looks like dusk. Sorry for the bad quality, my mobile camera is really a joke.
Did you know?
I don't watch much of TV, but during my late night scavenging for football games and wildlife documentaries, I happened to see a screen on BBC News.
Citibank's market capitalization is currently below $1bn, while it is offering 64% of its shares to the American taxpayer for $246bn.
That's quite shocking, don't you think?
Citibank's market capitalization is currently below $1bn, while it is offering 64% of its shares to the American taxpayer for $246bn.
That's quite shocking, don't you think?
Friday, February 27, 2009
Thursday, February 19, 2009
Who says India is poor? Just ask Swiss banks
Dishonest industrialists, scandalous politicians and corrupt IAS, IRS, IPS officers have deposited in foreign banks in their illegal personal accounts a sum of about $1500 billion, which have been misappropriated by them. This amount is about 13 times larger than the country’s foreign debt. With this amount 45 crore poor people can get Rs 1,00,000 each. This huge amount has been appropriated from the people of India by exploiting and betraying them.
Once this huge amount of black money and property comes back to India, the entire foreign debt can be repaid in 24 hours. After paying the entire foreign debt, we will have surplus amount, almost 12 times larger than the foreign debt. If this surplus amount is invested in earning interest, the amount of interest will be more than the annual budget of the Central government. So even if all the taxes are abolished, then also the Central government will be able to maintain the country very comfortably.
Some 80,000 people travel to Switzerland every year, of whom 25,000 travel very frequently. “Obviously, these people won’t be tourists. They must be travelling there for some other reason,” believes an official involved in tracking illegal money. And, clearly, he isn’t referring to the commerce ministry bureaucrats who’ve been flitting in and out of Geneva ever since the World Trade Organisation (WTO) negotiations went into a tailspin!
Just read the following details and note how these dishonest industrialists, scandalous politicians, corrupt officers, cricketers, film actors, illegal sex trade and protected wildlife operators, to name just a few, sucked this country’s wealth and prosperity. This may be the picture of deposits in Swiss banks only. What about other international banks?
Black money in Swiss banks -- Swiss Banking Association report, 2006 details bank deposits in the territory of Switzerland by nationals of following countries:
Top Five
India -- $1456 billion
Russia -- $470 billion
UK -- $390 billion
Ukraine -- $100 billion
China -- $96 billion
Now do the maths - India with $1456 billion or $1.4 trillion has more money in Swiss banks than rest of the world combined. Public loot since 1947: Can we bring back our money? It is one of the biggest loots witnessed by mankind -- the loot of the Aam Aadmi (common man) since 1947, by his brethren occupying public office. It has been orchestrated by politicians, bureaucrats and some businessmen. The list is almost all-encompassing. No wonder, everyone in India loots with impunity and without any fear.
What is even more depressing in that this ill-gotten wealth of ours has been stashed away abroad into secret bank accounts located in some of the world’s best known tax havens. And to that extent the Indian economy has been stripped of its wealth. Ordinary Indians may not be exactly aware of how such secret accounts operate and what are the rules and regulations that go on to govern such tax havens. However, one may well be aware of ’Swiss bank accounts,’ the shorthand for murky dealings, secrecy and of course pilferage from developing countries into rich developed ones.
In fact, some finance experts and economists believe tax havens to be a conspiracy of the western world against the poor countries. By allowing the proliferation of tax havens in the twentieth century, the western world explicitly encourages the movement of scarce capital from the developing countries to the rich.
In March 2005, the Tax Justice Network (TJN) published a research finding demonstrating that $11.5 trillion of personal wealth was held offshore by rich individuals across the globe. The findings estimated that a large proportion of this wealth was managed from some 70 tax havens.
Further, augmenting these studies of TJN, Raymond Baker -- in his widely celebrated book titled ’Capitalism’s Achilles Heel: Dirty Money and How to Renew the Free Market System’ -- estimates that at least $5 trillion have been shifted out of poorer countries to the West since the mid-1970. It is further estimated by experts that one per cent of the world’s population holds more than 57 per cent of total global wealth, routing it invariably through these tax havens. How much of this is from India is anybody’s guess.
What is to be noted here is that most of the wealth of Indians parked in these tax havens is illegitimate money acquired through corrupt means. Naturally, the secrecy associated with the bank accounts in such places is central to the issue, not their low tax rates as the term ’tax havens’ suggests. Remember Bofors and how India could not trace the ultimate beneficiary of those transactions because of the secrecy associated with these bank accounts? Is there anyone who can save India? God... No even he can't!
Once this huge amount of black money and property comes back to India, the entire foreign debt can be repaid in 24 hours. After paying the entire foreign debt, we will have surplus amount, almost 12 times larger than the foreign debt. If this surplus amount is invested in earning interest, the amount of interest will be more than the annual budget of the Central government. So even if all the taxes are abolished, then also the Central government will be able to maintain the country very comfortably.
Some 80,000 people travel to Switzerland every year, of whom 25,000 travel very frequently. “Obviously, these people won’t be tourists. They must be travelling there for some other reason,” believes an official involved in tracking illegal money. And, clearly, he isn’t referring to the commerce ministry bureaucrats who’ve been flitting in and out of Geneva ever since the World Trade Organisation (WTO) negotiations went into a tailspin!
Just read the following details and note how these dishonest industrialists, scandalous politicians, corrupt officers, cricketers, film actors, illegal sex trade and protected wildlife operators, to name just a few, sucked this country’s wealth and prosperity. This may be the picture of deposits in Swiss banks only. What about other international banks?
Black money in Swiss banks -- Swiss Banking Association report, 2006 details bank deposits in the territory of Switzerland by nationals of following countries:
Top Five
India -- $1456 billion
Russia -- $470 billion
UK -- $390 billion
Ukraine -- $100 billion
China -- $96 billion
Now do the maths - India with $1456 billion or $1.4 trillion has more money in Swiss banks than rest of the world combined. Public loot since 1947: Can we bring back our money? It is one of the biggest loots witnessed by mankind -- the loot of the Aam Aadmi (common man) since 1947, by his brethren occupying public office. It has been orchestrated by politicians, bureaucrats and some businessmen. The list is almost all-encompassing. No wonder, everyone in India loots with impunity and without any fear.
What is even more depressing in that this ill-gotten wealth of ours has been stashed away abroad into secret bank accounts located in some of the world’s best known tax havens. And to that extent the Indian economy has been stripped of its wealth. Ordinary Indians may not be exactly aware of how such secret accounts operate and what are the rules and regulations that go on to govern such tax havens. However, one may well be aware of ’Swiss bank accounts,’ the shorthand for murky dealings, secrecy and of course pilferage from developing countries into rich developed ones.
In fact, some finance experts and economists believe tax havens to be a conspiracy of the western world against the poor countries. By allowing the proliferation of tax havens in the twentieth century, the western world explicitly encourages the movement of scarce capital from the developing countries to the rich.
In March 2005, the Tax Justice Network (TJN) published a research finding demonstrating that $11.5 trillion of personal wealth was held offshore by rich individuals across the globe. The findings estimated that a large proportion of this wealth was managed from some 70 tax havens.
Further, augmenting these studies of TJN, Raymond Baker -- in his widely celebrated book titled ’Capitalism’s Achilles Heel: Dirty Money and How to Renew the Free Market System’ -- estimates that at least $5 trillion have been shifted out of poorer countries to the West since the mid-1970. It is further estimated by experts that one per cent of the world’s population holds more than 57 per cent of total global wealth, routing it invariably through these tax havens. How much of this is from India is anybody’s guess.
What is to be noted here is that most of the wealth of Indians parked in these tax havens is illegitimate money acquired through corrupt means. Naturally, the secrecy associated with the bank accounts in such places is central to the issue, not their low tax rates as the term ’tax havens’ suggests. Remember Bofors and how India could not trace the ultimate beneficiary of those transactions because of the secrecy associated with these bank accounts? Is there anyone who can save India? God... No even he can't!
Saturday, February 14, 2009
The Rich and the Third World
It is rapidly acquiring many of the hallmarks of a 'Third World' system. For starters, its macro-economic numbers are out of line, since it has a fiscal deficit of 8.5 per cent of GDP, and has run a trade deficit for many years, reaching about 5 per cent of GDP.
The economy keeps chugging along on the back of massive international borrowing, on a scale that is generally recognised as unsustainable. As a consequence, it has an abysmal savings-GDP ratio.
It has a bankrupt financial system that can only be saved through large-scale nationalisation of banks; the alternative is that the bulk of the banking system will be de facto government-controlled.
Critical parts of its industry (and also agriculture) are uncompetitive, and survive only because of government subsidies.
Sitting on top of this superstructure is a plutocracy that has been busy squirreling away money for itself, despite public outrage, while the large mass of people struggle to make ends meet and are mired in debt.
Yet its politicians are such that when they come up with policy responses, they shovel more money towards the plutocrats. As for its business environment, it regularly spews out one scandal after another.
As a society, it has witnessed growing inequality, in both income and wealth, and there is a substantial under-class. A significant minority cannot afford health care, and the public school system is generally recognised as being below par.
There is no social security worth the name. The country has a hopeless environmental record, and crime is such that it has the world's biggest prison population, in relation to the size of the population.
Civil rights have been eroded in recent times. People are held without trial for years on end, without being informed of the charges against them, and torture is officially sanctioned.
For good measure, the country tends to get embroiled in prolonged and needless wars, with countries that pose no threat to it.
As you should have guessed, we are talking of the United States of America. The only reason why no one thinks of it as being a part of the 'Third World' is the obvious one, that it is a very rich country.
More careful analysis makes it clear that the operative difference is not wealth but something else altogether. Unlike all other 'Third World' economies, this one has a currency that the rest of the world is willing to accept as a medium of exchange, and as a store of value.
So the government can keep printing currency notes to pay for its financial shortfalls. Take away that printing press, and the entire system becomes unsustainable.
This is not a complete picture of course, and therefore a grossly unfair one.
For all its shortcomings, the US has a vibrant corporate world, world leadership in science and technology, outstanding universities, an energetic and hardworking people, strong institutions of governance, and a creative approach to problems that help the country work out solutions to the most difficult problems -- qualities not found in a true 'Third World' system.
Also, some of the bleakness of the negative side of the balance sheet only reflects the current mess in the financial sector and economic recession.
And, of course, we aren't comparing the US with India.
Conceding that, the fact is that the US has to look at itself differently if it is going to address deep-seated problems.
If it thinks of itself as the world's only superpower, it will not do the things that 'Third World' economies are routinely asked to do by the IMF: devalue the currency in order to balance trade, cut government spending, increase savings, and bite the bullet in order to bear the pain.
Run this check-list for the Obama economic package, and some things start becoming clear.
Thursday, January 8, 2009
Some toughts for the New Year
A letter by Subhash Soni:
The paradox of our time in history is that we have taller buildings but shorter tempers, wider freeways, but narrower viewpoints. We spend more, but have less, we buy more, but enjoy less. We have bigger houses and smaller families, more conveniences, but less time. We have more degrees but less sense, more knowledge, but less judgment, more experts, yet more problems, more medicine, but less wellness.
We drink too much, smoke too much, spend too recklessly, laugh too little, drive too fast, get too angry, stay up too late, get up too tired, read too little, watch TV too much, and pray too seldom. We have multiplied our possessions, but reduced our values. We talk too much, love too seldom, and hate too often.
We've learned how to make a living, but not a life. We've added years to life not life to years. We've been all the way to the moon and back, but have trouble crossing the street to meet a new neighbor. We conquered outer space but not inner space. We've done larger things, but not better things.
We've cleaned up the air, but polluted the soul. We've conquered the atom, but not our prejudice. We write more, but learn less. We plan more, but accomplish less. We've learned to rush, but not to wait. We build more computers to hold more information, to produce more copies than ever, but we communicate less and less.
These are the times of fast foods and slow digestion, big men and small character, steep profits and shallow relationships. These are the days of two incomes but more divorce, fancier houses, but broken homes. These are days of quick trips, disposable diapers, throwaway morality, one night stands, overweight bodies, and pills that do everything from cheer, to quiet, to kill. It is a time when there is much in the showroom window and nothing in the stockroom. A time when technology can bring this letter to you, and a time when you can choose either to share this insight, or to just hit delete.
Remember; spend some time with your loved ones, because they are not going to be around forever. Remember, say a kind word to someone who looks up to you in awe, because that little person soon will grow up and leave your side. Remember, to give a warm hug to the one next to you, because that is the only treasure you can give with your heart and it doesn't cost a cent.
Remember, to say, "I love you" to your partner and your loved ones, but most of all mean it. A kiss and an embrace will mend hurt when it comes from deep inside of you. Remember to hold hands and cherish the moment for someday that person will not be there again. Give time to love, give time to speak, and give time to share the precious thoughts in your mind.
Life is not measured by the number of breaths we take, but by the moments that take our breath away.
And always remember:
Where will you be a year from now? Where would you most like to be? There is so much you've learned and experienced on your journey to this day. Imagine what you can now do with it all. This New Year is a grand opportunity, filled with promise and possibilities. Choose now the very best of those possibilities, and know that you have the power to bring them to life. You will spend this coming year moving in one direction or another. Commit now to making that direction the one that will take you toward what you sincerely desire. Life in each moment is influenced by your presence and participation. As this New Year unfolds, continue to make that influence a positive and fulfilling one.
Consider today where you would like to be a year from now. For now is the beginning of the year in which you can truly make it happen.
If you don't send this to at least 8 people... Who cares?
The paradox of our time in history is that we have taller buildings but shorter tempers, wider freeways, but narrower viewpoints. We spend more, but have less, we buy more, but enjoy less. We have bigger houses and smaller families, more conveniences, but less time. We have more degrees but less sense, more knowledge, but less judgment, more experts, yet more problems, more medicine, but less wellness.
We drink too much, smoke too much, spend too recklessly, laugh too little, drive too fast, get too angry, stay up too late, get up too tired, read too little, watch TV too much, and pray too seldom. We have multiplied our possessions, but reduced our values. We talk too much, love too seldom, and hate too often.
We've learned how to make a living, but not a life. We've added years to life not life to years. We've been all the way to the moon and back, but have trouble crossing the street to meet a new neighbor. We conquered outer space but not inner space. We've done larger things, but not better things.
We've cleaned up the air, but polluted the soul. We've conquered the atom, but not our prejudice. We write more, but learn less. We plan more, but accomplish less. We've learned to rush, but not to wait. We build more computers to hold more information, to produce more copies than ever, but we communicate less and less.
These are the times of fast foods and slow digestion, big men and small character, steep profits and shallow relationships. These are the days of two incomes but more divorce, fancier houses, but broken homes. These are days of quick trips, disposable diapers, throwaway morality, one night stands, overweight bodies, and pills that do everything from cheer, to quiet, to kill. It is a time when there is much in the showroom window and nothing in the stockroom. A time when technology can bring this letter to you, and a time when you can choose either to share this insight, or to just hit delete.
Remember; spend some time with your loved ones, because they are not going to be around forever. Remember, say a kind word to someone who looks up to you in awe, because that little person soon will grow up and leave your side. Remember, to give a warm hug to the one next to you, because that is the only treasure you can give with your heart and it doesn't cost a cent.
Remember, to say, "I love you" to your partner and your loved ones, but most of all mean it. A kiss and an embrace will mend hurt when it comes from deep inside of you. Remember to hold hands and cherish the moment for someday that person will not be there again. Give time to love, give time to speak, and give time to share the precious thoughts in your mind.
Life is not measured by the number of breaths we take, but by the moments that take our breath away.
And always remember:
Where will you be a year from now? Where would you most like to be? There is so much you've learned and experienced on your journey to this day. Imagine what you can now do with it all. This New Year is a grand opportunity, filled with promise and possibilities. Choose now the very best of those possibilities, and know that you have the power to bring them to life. You will spend this coming year moving in one direction or another. Commit now to making that direction the one that will take you toward what you sincerely desire. Life in each moment is influenced by your presence and participation. As this New Year unfolds, continue to make that influence a positive and fulfilling one.
Consider today where you would like to be a year from now. For now is the beginning of the year in which you can truly make it happen.
If you don't send this to at least 8 people... Who cares?
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