Saturday, September 20, 2008

A letter from the LA Times ... how rebuking !!!

Dear United States,
Welcome to the Third World!
It's not every day that a superpower makes a bid to transform itself into a Third World nation, and we here at the World Bank and the International Monetary Fund want to be among the first to welcome you to the community of states in desperate need of international economic assistance. As you spiral into a catastrophic financial meltdown, we are delighted to respond to your Treasury Department's request that we undertake a joint stability assessment of your financial sector. In these turbulent times, we can provide services ranging from subsidized loans to expert advisors willing to perform an emergency overhaul of your entire government.
As you know, some outside intervention in your economy is overdue. Last week -- even before Wall Street's latest collapse -- 13 former finance ministers convened at the University of Virginia and agreed that you must fix your"broken financial system." Australia's Peter Costello noted that lately you've been "exporting instability" in world markets, and Yashwant Sinha, former finance minister of India, concluded, "The time has come. The U.S. should accept some monitoring by the IMF."
We hope you won't feel embarrassed as we assess the stability of your economy and suggest needed changes. Remember, many other countries have been in your shoes. We've bailed out the economies of Argentina, Brazil,Indonesia and South Korea. But whether our work is in Sudan, Bangladesh or now the United States, our experts are committed to intervening in national economies with care and sensitivity.
We thus want to acknowledge the progress you have made in your evolution from economic superpower to economic basket case. Normally, such a process might take 100 years or more. With your oscillation between free-marketextremism and nationalization of private companies, however, you have successfully achieved, in a few short years, many of the key hallmarks of Third World economies.
Your policies of irresponsible government deregulation in critical sectors allowed you to rapidly develop an energy crisis, a housing crisis, a credit crisis and a financial market crisis, all at once; and accompanied (and partly caused) by impressive levels of corruption and speculation. Meanwhile, those of your political leaders charged with oversight were either napping or in bed with corporate lobbyists.
Take John McCain, your Republican presidential nominee, whose senior staff includes half a dozen prominent former lobbyists. As he recently put it, "I was chairman of the [Senate] Commerce Committee that oversights every partof the economy." No question about it: Your leaders' failure to notice the damage done by irresponsible deregulation was indeed an oversight of epic proportions.
Now you are facing the consequences. Income inequality has increased, as the rich have gotten windfalls while the middle class has seen incomes stagnate. Fewer and fewer of your citizens have access to affordable housing,healthcare or security in retirement. Even life expectancy has dropped. And when your economic woes went from chronic to acute, you responded -- like so many Third World states have -- with an extensive program of nationalizingprivate companies and assets. Your mortgage giants Fannie Mae and Freddie Mac are now state owned and controlled, and this week your reinsurance giant AIG was effectively nationalized, with the Federal Reserve Board seizing an 80% equity stake in the flailing company.
Some might deride this as socialism. But desperate times call for desperate measures.Admittedly, your transition to Third World status is far from over, and it won't be painless.
At first, for instance, you may find it hard to get used to the shantytowns that will replace the exurban sprawl of McMansions that helped fuel the real estate speculation bubble. But in time, such shantytowns will simply become part of the landscape. Similarly, as unemployment rates continue to rise, you will initially struggle to find a use for the expanding pool of angry, jobless young men. But you will gradually realize that you can recruit them to fight in a ceaseless round of armed conflicts, a solution that has been utilized by many other Third World states before you.
Indeed, with your wars in Iraq and Afghanistan, you are off to an excellent start.Perhaps this letter comes as a surprise to you, and you feel you're not fully ready to join the Third World. Don't let this feeling concern you. Though you may never have realized it, you've been preparing for this moment for years.

Saturday, September 13, 2008

Delhi burns ....

Dunno why such acts sadden me even though (touchwood) so far noone I know has reported anything bad ... I guess that's what makes me human!

But then, why doesn't the heart wrench when blasts occur in Afghanistan. Is this concern fuelled by fear of disaster closer home ? Or is it the spirit of patriotism manifesting in a different form? Spare me the flaky comments; in the end, I am just a romantic fool...

I started this blog during my last endterm examination... guess the urge to splurge time will see me posting a lot more thanks to the ones beginning on monday ...

Grim and worried.

Sunday, September 7, 2008

Parcel's list of things to do before 30

(FYI ... my dorm name at IIM A is parcel)
Feel free to make suggestions thro' email/ IM / comments

  1. Sing in a Karaoke bar
  2. Dance before a crowd like noone's watching
  3. Make a really naughty prank call
  4. Crowd surfing at a concert
  5. Sky-dive
  6. Bungee jump
  7. Be in a near-death situation
  8. Confess a crush
  9. Go on a blind date
  10. Go biking in Goa
  11. Make a large anonymous donation
  12. Be a rebel for something good...
Awaiting many many more additions

Some good quotes ...

From a fellow blogger, whom I can't name here upon request ...

"Streenam Chittam, purushasya bhagyam" - Things noone has control upon !

"Lives of great men all remind us, we can make our lives sublime, and, departing, leave behind us, footprints on the sands of time. " - If only my aspirations could transcend beyond a fat pay package with a good brand !

Friday, September 5, 2008

Orkut says: You are talented in many ways

How true ... just got my first "A" grade at IIM A. So what if it was a course on MS excel ;)

Also, just got a confirmation that I'll be getting an alumni scholarship award. Not a very big amount compared to the exorbitant fees that we pay here, but it's great news newayz - Now, only if I spend it wisely :)

Wish I was equally talented at writing huge reports- got a WAC submission (1000 words) due tomorrow at 12:30; and this one's a biggie worth 35% of the grade ... God help me !!!


Thursday, September 4, 2008

About the mad judge dilemma

We beat the odds, one of us went to the gallows after some random draws (Google docs random function) ... Hit the warden; and came back to the family ...

In case you don't understand this, don't worry ... it's arbit !