Thursday, March 11, 2010

My bet is on "Kings XI Punjab"





Due to preoccupation I may not be able to follow IPL III.

However, I roar for King XI Punjab !



The "J Curve Effect"

First it was Dollar, then Euro and now Pound. After grumbling and crumbling over Rembini’s undervaluation, these countries are shedding their age old belief of maintaining a strong currency; rather they are happy loosing its value. As Dollar, Euro and Pound depreciates, the central banks and governments of these countries lap up the loss in value terming it as an opportunity to make their exports competitive once again, which may up domestic production and employment opportunities in the short and medium term. I however have serious doubts over such “rosy” effects of currency depreciation on their domestic economies in general and employment in particular. Reason is simple, UK, US and Eurozone consumes a lot of imports, especially the consumer goods and primary / intermediate producer goods. Currency depreciation would mean competitive exports but expensive imports. Expensive imports would immediately translate into high inflation. Although the inflation is low at present, but going forward US and its allies readies itself for a rate increase, which coupled with currency depreciation risk magnifying the effects of inflation.



The advocates of free market mechanism are putting checks in place to skew their currency valuations negatively. My advice, don’t do that, these currencies are already under pressure for wrong reasons and I see valuation realignments among major currencies in the medium and long term. Take things as they come and don’t rush into currency depreciation. The economies are still on life support so don’t remove the ventilators as yet. The “J Curve effect” may just last too long to neutralize the positive effects of currency depreciation on domestic production and employment in the short and medium term.

Sunday, March 7, 2010

Woman of the Year 2009-2010





My vote for this year’s (March 2009 – March 2010) “Woman of the Year” goes to Suu Ki (Aung San Suu Ki), the exiled opposition leader of Burma who refuses to buckle under pressure from a hostile government and who has held her head high in the face of adversity; even when she was and still is confined to illegal detention devoid of even her basic human rights.
I have heard and read about Suu Ki all through my years of adolescence and adulthood and I always admired her grit, courage and ability to take a non violent stand for truth. She won a popular election in early 90s, but was detained illegally even before the results were out and she has been subject to regular house arrest since then. The “Junta” as the hostile leaders of Burma are called has braved international pressure and domestic upsurge from Suu Ki supporters to keep her in illegal confinement.
For me she is “The Lady of the Year” as she was yet again illegally detained by the Junta (after a brief period of being free of her house arrest) following what is termed as a “Trespassing incident by an International Journalist”. A westerner fearing her security swam across the lake to reach the house (uninvited) where Suu Ki was under house arrest. The man was arrested on his return trip and it is unknown what his motives were. On 13 May, Suu Kyi was arrested for violating the terms of her house arrest because the swimmer, who pleaded exhaustion, was allowed to stay in her house for two days before he attempted the swim back. Suu Ki faces up to five years in prison in a year when Burma is again going to election.
My heart goes out for Suu Ki, and I salute her for all the courage she has shown in her non violent struggle against an oppressive and illegal rule. She will prevail I’m sure and I look forward to a day when she will lead Burma and its citizens out of deprivation and an oppressive rule to an equitable and just society based on rule of law.

Friday, March 5, 2010

"Sexiest National Monument"


"Monument of African Renaissance", Dakar (Senegal)

I rate the recently completed and soon to be commissioned (April 2010) National Monument of Senegal named "Monument of African Renaissance" at Dakar, Senegal as the Sexiest National Monument. Constructed at a cost of over USD 27 M and designed by North Koreans, this masterpiece confuses a lot of people besides leaving them gasped and excited. A scantily clad, well figured lady (with all due respect) in arms with a presumably black man (with a well toned body and six pack abs) holding a small baby depicting African Renaissance. Ms.Renaissance and Mr.Renaissance (and of course baby Renaissance) ooogles a lot of sexiness and for sure deserves a front cover on Playboy.

I'm confused, what Renaissance are of talking of here? Wikipedia tells me, Senegal is predominatly an Islamic state with acute poverty, hunger and malnutrition and the forbearers of this monument (President Wade of Senegal and his supporters) defines this Bronze Statue as a behemoth representing Africa from centuries of "ignorance, intolerance and racism".

Why am I getting so interersted and excited about all this. Well this rings a bell and send a shiver down my spine. If Mayawati Ji gets any hint of what this monument is all about, don't be surprised to see her in a new avtar in her next "Statuesque".