Lo and Behold!

If I am right, the next financial crisis, when it comes, stands to make the last two years look like a 'warm up'

bummer! So we are still not out of the woods and there's already talk of the next crisis? What more, that would be even bigger!!!

"They [financial crises] are all different, but they have one fundamental source," he said.

"That is the unquenchable capability of human beings when confronted with long periods of prosperity to presume that it will continue."

That's wisdom overflowing from the cupeth Mr.Greenspan!

Moi thinks, Mr Green, you are just providing more fodder for Mr. Michael Moore's new movie "Capitalism: A Love Story"; which is most likely to be lapped up by a huge audience. (Trivia : 70% of Moore's 300 Million earnings /year come from non-US nations. Get the drift? )

Too bad!

An EconomicTimes article on immigration says ....

[...]large parts of the general public are more than aware that a skewed welfare system, a generation of soft living, a screwed up education system, and a lack of available skills[...]

Sounds uncannily familiar? No, it's not uncle Sam we are talking here. It's their partner in all crimes, the Great Britain that's being referred.

As much as I hate to break this to the Brits, but, having too many facilities without having to pay for it have there own consequences. Too bad, you dug yourself into one hole...

In case you missed the big news gulping all those beers sitting on your snobbish little asses (and taking 3 months paid leaves), your big brother on the west of the Atlantic is currently dealing with his own screw ups. So good luck trying to get off that nanny state.

Good jobs, Bad times

What kinda jobs don't get directly affected by recession? As in what profession would you be in to be most immune to any economic downturn.

Right of the top of my head I can think of 3 such professions.

1. Lawyers - Some may say, they actually make a merry during recession. Depression is time of increase in crime, both corporate and otherwise. Men generally tend to go negative during hardship. And crime to Lawyers is what ill-health is to Doctors.

2. Doctors - This one is easier. Again you will always require Doctors. Good times and Bad times. Actually more during bad times. Stress is a genesis for a whole lot of medical problems. Enter recession, enter stress. Enter stress, enter your friendly neighborhood pill-man, your Doctor.

3. Professors - One of the most under rated professions according to me. Completely immune to any economic downturn, IMO. The 'khadoos', arrogant tribe is actually one of the least affected men and women in times of hard recession. From what I hear, people go back to school during tough times.


P.S : I read somewhere that Casinos actually do better business during hard economic times. Not sure why!

'Save the fat cat'

It took me a while to figure out in actual digits, how to write 700 billion dollars. No Kidding. Here's how it looks - 700,000,000,000 - after adding zeros one by one to 700,000 which is a figure I can relate to as within my realm of existence. And that, if I really look too far from me.

So, Senate today passed the bill to bail out the fat cats of Wall Street and hand over to them 700 Billion US Dollars. We are being told by all the wise men, including journalists and politicians, that this is the right thing to do. And if we don't do that heavens will fall (or something of that order will happen. Doomsday theories you know!)

The idea is, that if the falling banks and their big fat wild cats are flushed with this kind of cash, they in turn will be free to give credit to people, which in turn will roll the economy back on the track over the period of time. On the other hand if Banks keep tumbling for lack of cash, no one will be getting credit which means, no money rolling back and forth into economy and which means "depression".

Now let me tell you quite frankly, I do not like the word depression. It is too fking depressing. And so I am like.. "yeah, do whatever..give those fat cats what they want.. but don't talk of depression please.."

Or is it? Should I as a tax paying resident of this country, who pays his bills regularly, without fail, and who lives within his limits as an honest salaried person not question this bail out?

I am sure, that the 700 Billion figure has my name in it, a small one I agree, somewhere in there. Me and my wife are contributing to bailing out a bunch of greedy CEOs and their Bull Shitting Management gurus and we are being told right now, that do not question this. If you are against bail out, you are a moron.

Ok, fair enough. I am a moron. An honest tax paying moron. But I need to know, the idea behind this RUSH to bail out. Nancy Pelosi's Congress and Bush's managers were sleeping for 1.5 years and all of a sudden they want to apply bandage to a nagging pain and think all is taken care of!!!

I am thinking NO. If you could wait for almost 2 years and sleep over this issue thinking everything is fine, you should wait for another couple of weeks at least. Tell me and my wife, why those greedy cats are not being penalized. Why they are not expected to pay their dues. How do me and my wife not know that these 700 Billion will not vanish in thin air again? Whooooooosh!!!

In a plain, simple, well written op-ed today in New York Time, Nicholas Kristof argues that America should "save the fat cat"

Who am I to question an Harvard educated guy like Nicholas Kristof, who's columns I have been following with great delight?

I am not arguing against the bail out Mr. Kristof. I am arguing against the mad rush to do that without communicating and addressing my fear that the cat is really dependable. I am worried, they are being let off too easily. I am worried that the right lessons are not being learnt here. I am worried that we are not giving ourselves even time to sink in and learn. Quick fixes have a flip side. And you probably have a greater visibility than me to world crisis to know that.

And please do not compare Japan to USA. Japan's economy sunk coz of the financial culture (of obsessive savings by the way) and not because their government did not bail out. I have not been to Harvard or have an MBA degree. But life's own management school of common sense taught me to take each problem on it's merit. If you try to apply Japanese template to USA, you are not going too far.

Microsoft picks Seinfeld

Microsoft needs to re-brand itself. We all know. Mac (and specially it's new ad) has taken the wind out of the software giant. But to choose Seinfeld as brand Ambassador!!!
Nah...not cool.

Just for the record I am huge fan of Seinfeld's. I can't stop talking of this guy's genius whenever I get on it. But the combination of MS and Seinfeld looks far fetched.

Also for the record I am not anti-MS or pro-Mac. I would actually want Microsoft to combat Mac in a fair way. I come from the Java world and here, even hinting at supporting Bill Gates and Microsoft is plain sacrilege. But I usually stick my neck out in wrong direction. So be it.

Microsoft need to be "cool" again, alright. But how does it do it by roping in Jerry Seinfeld, a 50 year old living in Hamptons, who probably all his life used "geeks" and "gadgets" as fodder for his stand up?

Not a big fan of this new marriage... nah.

Dabbewale of Bombay

Only in this awesome city could have this system been such a huge success

"Harvard Business School has produced a case study of the dabbawalas, urging its students to learn from the organisation, which relies entirely on human endeavour and employs no technology." says this article in Economist. And why not? All great management trends are not necessarily to be found in costly books.

On a side note - it kills me to see Bombay's current state. It used to be my favorite city growing up. Santacruz, Versova, Ville Parle, Chembur.. I miss those awesome suburbs.
Hope to write a post soon on the decline of Bombay.

Swaminomics at it's best

The rise and drop of Indian economy explained by Swaminathan Iyer; somewhat an authority on this subject and always a pleasure to read.

End of 9% dream