Economic Crisis and India

So a new government report shows that Indians lost 500,000 jobs in India. Rediff news


Yet MOIA is thinking more about help package for those who are returning from foreign states.

Why?
There can be two reason.
First is, Indian government really want to profess that its foreign countries that suffered the major blow of recession, and India is doing fine. After all, it is election period, no government will feel good about exposing the reality. So, by promoting help packages for foreigners and ignoring Indians who lost job in India, government is playing safe.

Second thing is, the number of job lost can be so high (which obviously have not been displayed yet) that government knows it is useless to talk of any unemployment help package.

In any case, it is good for Indians if government keeps away from the idea of economic stimulus for anyone.

Economic Crisis and Solution

Ron Paul on Economic Crisis--

“We got here by spending too much money, borrowing too much money, and inflating too much money — with the Federal Reserve too involved in central economic planning through the manipulation of interest rates, and the congress passing too many regulations. As long as we think that’s benign and has nothing to do with it, then I guess it seems very logical that we come up by spending more money, borrowing more money, printing more money, and writing more regulations - and think that we’re going to get different results.

It seems to me today that the big argument is who the central economic planner is. Is it the treasury, or is it the congress, is the FDIC, is it the federal reserve? Believe me, central economic planning doesn’t work - that’s why we’re in this mess.

If we’re looking for a solution, we have to have liquidation of debt. We don’t want to prop up the bad debt. The problem was created by bad policy. The longer that you delay the liquidation of debt, the longer the agony will be.”

Read more here--

Economic Crisis and Fiscal Stimulus by Government

Atlas Shrugged

Technorati Profile

It is the recession time and Obama-Biden and co. are trying their best to reshape the economy.
Will the Obama stimulus Plan Work?

No it won't...why?

let's see

Obama: "Will you tell me what's wrong with the economy?"

Jake: "What I just told you over the last three hours, is that it won't work."

Obama: "Why not? Just tell me why not!"

Jake: "Okay, I'll tell you. You want me to be Economic Dictator?"

Obama: "YES!"

Jake: "And you'll obey any order I give?"

Obama: "Implicitly!"

Jake: "Then start by abolishing all income taxes."

Obama: "Oh no! We couldn't do that! That's not the field of production. That's the field of distribution. How would we pay our government employees?"

Jake: "Fire your government employees."

- From Ayn Rand's Atlas Shrugged, when John Galt (Jake) is held prisoner by President Thompson (Obama) and told at gunpoint he should "fix" their economy.


Read more here---

The Dilemma of Reserve bank of India

The Government help for economic Crisis