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Monday, August 19, 2013

While the Nation Withers...

The massacre in the equity and debt markets was waiting to happen.An exception does not prove a point but it does break a generalisation.Generalisation-Debt markets are safer.They are not.To be witness to a historic day when the Rupee collapsed like not seen in 18 years.1100 points wiped of the BSE Sensex in  2 trading sessions.
 
Nero fiddled while Rome burned.By jove have we seen (Roman) history repeat itself in 2013.
 
What is the mishmash of harvardites,oxfordies and homegrown bureacrats thinking?For the last three years since inflation climbed and then GDP and Growth fell,then the CAD widened there have been statements and counter statements.The promise of action.Cannot our political leadership even use the fig leave of honesty and be truthful to the Nation?Say that they are incapable of handling the situation?
 
I think a time comes for an 'Occupy Wallstreet" kinda movement in India.It has to be directed against the political bureaucrasy that is only concerned with safeguarding its own interests and letting the country rot be it in terms of economic or even physical security inside its cities and its external borders.The 'Hindi-Chini' bhai bhai polity did not work in 1962 when Chou En-lai shook Pandit Nehru's hand and turned around and attached India in 1965.Prime Minister Nehru died a broken man as his trust was not reciprocated,yet the Congress has been trying the same strategy with Pakistan!
 
They bleat in front of China and still hope that there would be one leader in Pakistan who would see the longterm benefit of peace with India.But is there one such Pakistani?
 
Those who believe that an election would change things for the better are badly mistaken.Narendra Modi of BJP with his PR machine and dependence on statistics is posturing for Prime Ministership as its another high point for him.Gag the opposition,intolerant of any other point of view other than his own yet lacking the iron or the firepower to take on foreign policy or economic threats head on.
 
Does the BJP or the opposition have a coherent plan to pull us out of this morass?If you the reader know then do let me know.None of these leaders have the honesty to bite the bullet or see a viewpoint other than the one put forth by their own party.
 
The withdrawal of QE by the Fed is but a minor reason for the crash in India.It hids the bitter truth of a lack of depth in our markets,power in the hands of manipulators and politians.Can we afford to guarantee food to ONE BILLION people however noble that may sound?
 
These gimmicks happen before every election,the colour of the party in power changes never the ethos!!The need for the average John Doe's involvement in the day to day affairs of the country gets more critical.