Tuesday, March 20, 2012

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How our Financial Wizards Fool the World

All the academic degrees and financial experience of our ministers that control the economy systematically and so deceptively, are applied to fool the world. What is worse than this news?

How can you reduce poverty line when inflation is rampant in the coutry? Once upon a time we used to have inflation of 6% (five years back) and that used average for decades on end.. This itself was bad compared to developed countries which do not let it cross even 2%. Now in the last five years we are consistently facing benchmark inflation in double digits.

Ruckus in Rajya Sabha over lowering poverty line

The true value of any currency can be found out from the value of Gold in that currency. Gold was at 9000 rupees 10 years back. That is near the millenium time. Five years back it was at 14000 or so. Now it is at about 28000 rupees. In just five years it had doubled in price which means rupee value had become half of its value in five years. In 10 years it became 1/3rd of its value. And we are talking about growth. The currency had already touched its all time low, only recently. How can you have the weakest currency if you are reportedly growing?

This is not the way the developed countries of the west have grown. Nor did the east. A developing economy always upholds the strength of its currency. If not for the intervention, we wouldn't see rupee depreciating. I mean intervention (by RBI controlled by Pranab or whoever) during good times to stop it from appreciating but less intervention during depreciating times.

Anyway, now with the lowest value of rupee, any 7th class student will say that the poverty line needs to be corrected upwards not downwards. If one lived on 30 rupees per day in 2000, the same person will live on 90 rupees per day in 2012 to maintain the same lifestyle and hygiene. But this is not the case. The government fools the world by employing such fools for planning commisions and letting them reduce the poverty line year after year. Like some annual results that the listed companies in the stock exchanges report every year and quarter. Poverty population count has only become such a result to show for the government.

So you reduce the poverty line and bring down the count of people below poverty line. Someone rightly said. It is no longer poverty line, rather starvation line. Whatever bulls-h*T crap.

Oh.. I missed the subsidies. So you get rice for 1 rupee. Good. Povertyline can be reduced to 1 rupee. Nobody in the world will starve anymore. Everyone can become like those malnourished African kids.

And there are some blokes who point out the mistakes of the opposition and ttheir complaining is nothing but a way to divert attention. Nice time blokes. One's mistakes doesn't imply that they should keep quiet and not complain. Or the world would be a better place if everyone commmited their own mistakes? No complaints.. Ah?

I have crossed the break-even barrier for living. Why do I have to worry? I too should focus on some export business.

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