Pulling Pants Down….

The Other India (clearly the one which knows NOTHING about Economics) has a whole article on Foreign Exchange Reserves. The level of ignorance, intellectual laziness is astounding. They say never attribute to malice that which you can attribute to stupidity. But I’m sorry – this HAS to be malice.

The article paints foreign reserves as some sort of conspiracy by the West to keep the developing world poor. This concept is so laughable that I my stomach is still hurting.

 For the past 50 years, rich countries have steadily held reserves equivalent to about three months’ worth of their total imports. As money circulates more and more quickly in a globalized economy, however, many countries have felt the need to add to their reserves, mainly to head off investor panic, which can strike even well-managed economies. Since 1990, the world’s nonrich nations have increased their reserves, on average, from around three months’ worth of imports to more than eight months’ worth — or the equivalent of about 30 percent of their G.D.P

China and other countries maintain those reserves mainly in the form of supersecure U.S. Treasury bills; whenever they buy T-bills, they are in effect lending the United States money. This allows the U.S. to keep interest rates low and Washington to run up huge deficits with no apparent penalty.

All the money spent on T-bills — a very substantial sum — could be earning far better returns invested elsewhere, or could be used to pay teachers and build highways at home, activities that bring returns of a different type.

So let’s wee if we can summarize here.

  • Western countries hold only 3 months’ worth of imports, while “nonrich” countries, whatever those are, hold 8 months of imports – to avoid “investor panic”.
  •  And assuming these forex reserves are evil scum sent from those horrendous heretic capitalists with horns on their heads (ok – I am creating a small bhoosa-ka-aadmi here), then having them be 30% of your GDP is bad.
  • Further, all countries are apparently stupid enough to hold their reserves in US t-bills, and not a basket of currencies….

And finally, this means that America is being financed by the universe, and they are living it up like kings (partially true, but not in the tone that has been conveyed above)

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FINAL FOOLS!

Ok, so this article in the BBC set off a cognitive alarm bell. I was thinking…hmmm, Boxing & a bunch of criminals…where have I heard of that before.

Well….this is where I’ve heard of it before…

And this is where most of India will see it…

Sigh. There will be a dog who swallows a squeaky toy.

I don’t who they’ll replace the “Pikeys”/Gypsies with in the Indian version.

I suppose the two black guys will be replaced by the comedian dude – I forget his name -Johnny something

Gullu seems to be “Bullet-Tooth Tony”‘s replacement.

Toss in a few songs, and redundant women, and you can no longer recognise that it’s a straight ripoff of Guy Ritchie’s hilarious original

Argh. Argh Argh.

 Ok…so….what? Doesn’t bollywood always plagiarise stuff? 

Yes, but I want to see if we can ruin a plagiarised movie’s chances by raising a ruckus in the Blogosphere.

Aren’t there greater causes out there worth fighting for?

Sure. Let greater people handle those greater causes (and the communists)

Dear Blogosphere,  (Amit Varma, Jabberwock, Greatbong, anyone else)

I would like to make a request. Could you please do two things: Raise a little awareness about Snatch (you know a review or two), and in passing mention that this fool’n’final shyte is a copy of it? Or just a post mentioning that it’s a ripoff. Pretty please? I want to see if we can actually cause any trouble for this movie.

Thanks.

A long long time ago..

The Mysterious Disappearance of TTG (Prologue)

(This part of the story is quite old & familiar to most of y’all)

In a blogosphere far, far away

there lived a blogger, going by the name of TTG. He was pretty obscure for the most part. Writing this and that, here and there. He made a few friends, and quite a few enemies. In fact, in his heyday, he made it onto the front page of the Delhi Times, that paragon of journalism.

Ah what heady days those were. Challenging the Compulsive Confessor, arguing (quite nastily) with the Typists, and other such odd adventures.

Eventually, however, the pace of blogging slowed. Why was this? Well, because TTG had got admission, into the Melbourne Business School. So, TTG rejoiced. He could finally leave his job as a 2-bit software engineer for a large Indian IT company, and move on to bigger better things. Hurrah. So TTG promptly quit his job, proceeded to get drunk and stoned every night, ran his beautiful Honda City over a loose stone on the Delhi-Gurgaon border, and lived to tell the tale. He lost the last of his family’s Old Guard, with the passing of his maternal grandmother (may she be having a Gol Gappa with the Great Chaat Bhandaar up there). And he drained his pitiful savings so that on the eve of his journey/yatra to Melbourne, his bank account promptly dropped to Zero.

Oh, and did somebody mention that 20 minutes before boarding the Jet Airways flight to Bombay, (The route was Delhi-Bombay-Sydney-Melbourne) he got an e-mail, from the Indian School of Business – telling him that he had got admission (this was his 3rd try).

Thus, the stage is set, for a not-very-interesting story. But blogs were built so that one may expound. Blogs were especially designed for megalomaniacs. And I am one. So there.

Thus ends the prologue, and we can jump right into the first part.

Not-First Post

So….

this post is an attempt to restart something I used to do in another life.

Firstly – let me apologise – to the other half of SplitMinds. Azure, I’m sorry for being away for so long. I will attempt, here, with your permission, to explain that absence. It will be a long story. And feel free to interrupt at any point.  And it may or may not be in chronological order. Or it might be.

I haven’t felt like blogging in a long, long time. And I think that for the most part…it was because I was…upset. Or depressed. Or something. I still am. But somehow, the urge to blog is back. Let’s see if it will stay this time…

So without further ado, I will jump into the first part of this long story.  (see the next post)