Rogue economicTimes editor questions NRI’s patriotism

To know what this editorial says read the article   Turn away some of that NRI money

The article makes no sense and at best reflects the lack of understanding of market dynamics of buying and selling dollars in the open market through various schemes. How such an idiot could become an editor that too for a reputed economictimes paper is beyond my understanding.

Every exporter/importer including some government agencies involve some hedging to fend of currency fluctuations. At times, they short rupee and at some other times they short foreign currency. Do you call such activity unpatriotic?

I am interested in seeing this idiot who came up with this theory on economictimes.indiatimes.com
NRIs have been sending money from decades which actually filled the plates of government that helped them to import goods into the country. Sending dollars to India is not of a recent phenomenon. There will be flood of dollars in coming months due to low interest rates in US and how is this editor going to stop that is still unknown. Government on one hand is seeking cheap money and economictimes editorial staff is roguish and is resorting to jingoism without any purpose.

Filed under: Finance India, India blogs, Indian Bloggers, india wired , economictimes, NRI money, turn away nri money

Foort Wood incident explains confused state of mind of majority of Muslims.

Hasan’s act at a Military base in Texas will surely put many Muslims career in jeopardy in United States and outside. I hope not, but that is a reality that is unstoppable.

If Hasan is on US payroll and if he saw a conflict of interest between his duties as US military employee and as a true devotee of Islam, then he should have simply resigned from the job and join the Mosque. But, wait a minute, If he resigned who would pay his bills and who would give him and his family members food? Definitely not the local mosque and definitely not the Allah. These bastards want to enjoy the fruits of democracy, freedom and richness of other cultures but at the same time want to pursue a double life as a true Muslim too. If he was not allowed to resign, then he should not have joined the army in first place.

But wait a minute, Islam says that you cannot work for for-profit organizations and also arguably says that you cannot fight against muslims. It also says that you cannot cooperate with jews and Christians etc. That leaves very few places for Muslims to pursue their career and growth. These unwritten rules and tenets will isolate Muslims more to a point that they all need an Island to themselves to breathe and practise religion.

 

Who would trust fellow Muslims in their offices now? It is the Mosque that is breeding ground of terrorism. If cleric was not able to clear the confused mind of Hasan, then who should have done that?

Islam as a religion is good in books, but what is bad is its interpretation that is imbibed in the minds of millions that can dangerously affect Islam’s future.
Its time for the Clerics  to rethink on how to build a future version of this abused religion.

Destruction of Dollar value and Electric cars can stop the abuse of Islam. OPEC countries and many other Muslim oil producing countries have huge reserves of Dollars. It is these dollars that are sitting idle and spreading evil version of Islam. Dollars destruction would definitely put a brake on that. Electric cars would definitely push all Muslim countries to begging as they didn’t diversify at all all these years. They will then know how to co-exist and work hard.

Give all Muslims a big chunk of earth with no connectivity to the rest of the cultures and religion. Let them survive, breath and practise religion as they wish. Let us see, what will happen to them after 25 years. They will swim and runaway to the mighty shores of development, freedom of the rest of the world as there is no meaning to practising Religion in all its purity. Lol

Good luck to all my Muslim friends and this article  is no offence to them.
Thanks
Sri

Filed under: Finance India, India blogs, Indian Bloggers, india wired , fort, fort wood, hasan, islam, jihad, texas, texas military base

Jagan as CM of Andhra Pradesh?

On what basis is Jagan qualified to be Chief Minister? The current mess in Andhra Pradesh congress is the creation of YSR. He made sure that no one gets elected to Assembly on congress ticket who can challenge him.  He carefully selected toothless leaders and also gave them free rein to loot the state. He implemented schemes for poor only with the tax payers money, but didn’t work hard to increase the tax revenue of the state to help sustain the social schemes he introduced.

All the Ministers and MLAs who are rallying for his candidature should bow their heads in shame for the utter irresponsible behavior. This display of immaturity is only going to hurt congress in future.

Challenge to Jagan:  Accept Presidentship of Andhra Pradesh congress unit and ride it through next assembly elections. Show us your maturity, leadership qualities and above all management skills. Running a newspaper with tax payers money is not business acumen.

Your silence on this issue is mischievous at best and sinister.

God save telugu people from rudderless congress party.

Filed under: Finance India, India blogs, Indian Bloggers, india wired , A.P, Andhra, Andhra Pradesh, AP, jagan, jagan as CM, Jagan as CM campaign, YSR

Chandrayaan-I mission failure and ISRO’s bad attitude

It is quiet unusual for a premier organization like ISRO to speak like an immature kid when faced with a failure. Rather than admit it on the face and ask for an apology from taxpayers, the chairperson went on saying the following which reflects very poorly on his professional ethics and work attitude.

1. Even though Chadrayaan – I died a premature death, we achieved 95% of the goals.
2. US and Europe were also satisfied with the results.

To Honorable chairperson of ISRO : If you have achieved 95% of the goals within few months of launch, why did you plan for 2 year research programe with Chadrayaan – I? Why waste taxpayers money? Why do you need a certificate from US and Europe to pat on your back?
In all this failure, where did you speak to the tax payers on Chandrayaan’s mission?

You have not taken us into confidence in your mission and are now seeking refuge by making stupid statements. Come out clean and boldly accept that its was an error on your teams part and go on with Chandrayaan – II. Moon mission is not new and there is no rocket science in it. US, RUSSIA have accomplished them years ago and you can collaborate with them to reduce failure rate. The recent failure which is related to estimating moon’s temperature is trivial and this doesn’t bode well or instill confidence in us about your future endeavors.

Filed under: Finance India, India blogs, Indian Bloggers, india wired , chandrayaan, chandrayaan - I, chandrayaan - II, ISRO, Madhavan, Moon's temperature, raising moon's orbit

True colors of Advani are slowly cropping up

Advani (yes, i deliberately omitted ‘ji’) is not only opportunistic (recollect the indo-US civil nuclear deal),  very weak (remember Jinnah comments and return from Pakistan), but is also a liar.

He brazenly lied twice and in Jaswanth Singh’s own words, he completely knew of flying terrorists to Kandahar and also he is the one who stopped action against murderer modi.

To protect Party, Advani has undermined the country and its secular credentials. Rightly and justifiably people rejected the BJP party.

Jaswanth Singh: Thanks for revealing the facts, but why did you keep silient all these years? You would have still covered up these things for Adavni and may even have witnessed this Lal Salaam Advani (remeber Advani took the side of CPI & CPM during no trust motion against UPA w.r.t Indo-US civil nuclear deal. That is why i call him Lal Salaam Advani)) taking oath has PM, had BJP won elections. So, what should we call you?

–sri

Filed under: Finance India, India blogs, Indian Bloggers, india wired , Advani, gujarat carnage 2002, jaswanth, jaswanth singh, kandahar, lal salaam advani, modi

Fraud by ICMR officials unearthed by Hindustan Times

Dr VM Katoch, director-general of ICMR, and Dr RK Srivastava, director general of health services in the ministry of health and family welfare  and scores of other officials have alleged to have committed fraud missusing our tax money according to HT.

Please follow up the link here

I would request my readers contact the authors and contributors of this report for further updates and also to congratulate them if true.
We need to highlight this alleged fraud to the fullest extent and get to the bottom of this issue.

icmr site: http://icmr.nic.in

Thanks
sri

Filed under: Finance India, ICMR Fraud, India blogs, Indian Bloggers, india wired , director general of health services, Dr RK Srivastava, Dr VM Katoch, highest medical research body, ICMR, ministry of health and family welfare

What were you thinking Mr Pranab Mukherji?

You layout huge spending plan for Aam Aadmi without clear direction on sources of funding. You raised MAT which will affect infrastructure companies by drastically affecting their ability to raise funds for projects and or attract banks to lend them.

Your budget left us gasping with more questions than answers.
With the available info, it leads us to believe that you will suck up all the available liquidity from markets for your Aam Aadmi schemes leaving private sector (specifically infra stocks) with less credit to borrow from markets and at the same higher taxes.

I don’t understand how you are going to increase rural employment without private sector participation. I am guessing that you will end up creating huge unemployment in urban areas by weakening private sector.

Let us see what is in store for us.

Filed under: Finance India, India blogs, india wired , budget 2009 july, mukherji, pranab, sensex crash post july 2009 budget

Many D-street experts are expressing negative sentiment post budget

Most of the so called analysts who are predicting blood bath on sensex post budget are in reality technical experts. Some of them are paid bashers who missed the boat post election rally. Most of the Mutual Funds have suffered huge losses as they were sitting in cash or have shorted stocks pre election. Now they are biting nails as they are undecided as to enter the market or continue to sit on cash.

Election victory of UPA of such magnitude was unthinkable and sensex reacted in the same token. Now so called experts are doing the same mistake by looking at history, where stocks fell in a month after budget.

This coming budget is not and will not be a routine budget. UPA is set out to prove and show something this time around. They know one thing that investors are looking for massive expenditure on infrastructure and India cannot take off without that. So massive reforms with regards to Infrastructure is given even at the expense of huge deficits.

I don’t see how UPA can miss this budget or let it go just like that without some huge surprises. I am 100% sure that stocks in infrastructure sector will rally huge post and pre budget as there is no other option.

There will be huge upside in earnings potential and hence the current valuations justify the future earnings. If experts are trying to apply fundamental analysis of these stocks based on past earnings then they are dead wrong.

Let us see what happens now. I am waiting for good monsoon in next 2-3 days.

–sri

Filed under: Finance India, India blogs, Indian Bloggers, india wired , infra strocks, infrastructure sector, infrastructure stocks, July 6th budget, sensex, UPA budget

Is China’s wealth just an illusion?

The recent global economic collapse was mainly due    to the collapse of american economy and it turns out that the great american economy was just an illusion.  The American economy mainly maintained its status purely on the basis of it being global reserve currency. All assets around the world is traded in dollar and there were many happy buyers of dollars including China. This was fine until  America started printing dollars and all hell broke down.

One simple analysis  is: America printed dollars in one year, what China earned in last 5 years. This one thing should magnify the fact beyond any error that Dollar is just a tissue paper now.

Now comes the startling question, did china worked so hard all these years to just earn trillions of tissue paper?  They earned more dollars then OPEC countries. In the next global reorganization,  how much should be the weight of China and what determines its weight and power in global saying?

–sri

Filed under: Finance India, India blogs, Indian Bloggers, india wired , china, china rising, dollar, global reserve currency, SDR, yuan

Axiata mulling an open offer on Idea cellular

As per business-standard report, axiata is mulling an open offer to raise its stake to 40%.

http://www.business-standard.com/india/news/axiata-mulls-open-offer-to-raise-stake-in-idea/359395/

It appear that good days are here for long term idea cellular investors like me.
Jai ho to Idea cellular. I am guessing that the stock will shoot up to RS 100 on May 28th trading day.

Filed under: Finance India, Indian Bloggers, india wired , axiata, idea cellular, open offer idea cellular