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Wednesday, December 1, 2010

India's rich have been cheating country of billions, for six decades | The Asian Age

India's rich have been cheating country of billions, for six decades The Asian Age

20 comments:

Proj said...

The country's rich exploits the middle class everywhere more or less. In the west, it's comparatively lesser but it exists to a reasonable extent. I hear the US leaders including the Fed president and the Treasury Secy talking about higher standards of living and creating shareholder wealth all the time. But if you compare the national savings rate of US in the 1970s to the one in 2006-07, it was 11% then and zero in 2006-07 in spite of most families having both husband and wife earning instead of a single earner as was the case in the 1970s, a clear indication that net worth of families have reduced. I am sure most Americans don't realize this and don't even care, they would rather follow the trend than think for themselves. The current generation has been made to believe that wealth is showing off your iPhone or BMW which has been bought on credit and will have to work you ass to pay that off. Granted these countries have better infrastructure, there is little, almost no money in the hands of the people which is what constitutes real wealth. There is so much hypocrisy in the leaders of US, both corporate and government which Wikileaks has exposed by bringing in full public view the double talk and games these people play in the name of diplomacy, need I say more ?

Naomi said...

Hi Proj, Thanks for sharing your views. The UK has been engulfed by the MP expenses scandal; Wikileaks has certainly revealed the two-facedness of American politicians and diplomats investment bankers in the west certainly have a lot to answer for.....and they must have their salaries and bonuses cappped. What is your view of the Nira Radia tapes by the way?

Varahamihir said...

This is in response to Proj's comment. Whatever he says is true, because in spite both husband/wife working, the savings of the average American remains nil. This could be attributed to the American way of living. Buy things on credit now to pay for them later. Also, the ingrained American thinking of "We are, what we buy" has a lot to do with their spendings.

I saw a video of a presentation about two years ago, where the presenters concluded that though since 1970s the average median household income has risen, the people have been spending less and less on themselves. The reason? The household has to pay more for car insurance premium (since both husband and wife drive to work), the health insurance premium and home mortgage. In the end, with little disposable income left at hand, the families have no option but go and buy the things they need with their credit cards and this is how the journey of falling into inescapable debt trap, begins.

Sorry, if this comment does not sound too relevant to original discussion.

Mick said...

The ins and outs of any scandal give it it's identity. I'm sorry to say this but no Govt will ever be able to change the Indian view that corruption is part of the Indian culture this or that detail is irrelevant as are the participants. What I think is that the population of India just waits it's turn at the trough. If you happen to be in the right place and know the right people then it's a stepping stone on the road to being part of the nouveau rich.
I'm sorry to say this but corruption is so ingrained in the Indian psych that it would take an event of major propotions to stop it, IE the loss of say 80% of the population. Oh by the way it took a bit of finding this one

Mick said...

While on the subject of ingrained corruption FIFA footballs governing body has pulled off the most brazen corrupt act yet seen I think.
Firstly I'm no football fan, but knowing that they gave the world cup to South Africa because the RSA agreed not to tax any money earned by FIFA that came too £76 million. Wikeleaks leaked cables that go back some time regarding the fact that almost any crime in Russia has to be given the OK by Putin, I think the best question to ask is "How many suitcases full of money", and to use a phrase much love by the mag "Private eye", "this one will run and run" see it's the world cup so ipso facto it has to be held everywhere and it doesn't matter if it's an oil rich country half the size of Wales (Qatar), or somewhere really spread out like Indonesia.

I just use this as an example of how a part of human nature will look for and find exploitable ways to make money, even if the the people themselves are rich.
A bit like trying to buy floating duck houses, or the first and second homes scam. i think these only came to our attention because some persons close to the mp's involved talked about it to publicly simply because it was a normal part of daily life. Looking for ways to claim expenses, journalists know a bit about expenses we're led to believe.

Now for the nice bit of news from today's Guardian Mr Azim Premji Chairman of Wipro software has pledged £1.3bn to disadvantaged children some good from the IT sector that is booming in India

Proj said...

I personally disagree with lobbying in any form, Naomi. It's just a euphemism for shady deals, very popular in the US. I wrote this long post replying to you, mick, varahmir but somehow it did not get posted complaining about the length of the URL when I did not type anything there in the first place. I lost all I wrote and will have to rewrite again.

Proj said...

Diplomacy, the desire and plan to manipulate the world to its liking, the dominant US motive, democratic in pretensions but imperial to its core, comes out in stark nakedness. World has known it. Wikileaks is only a certification of this fact. WikiLeaks disrobing diplomats mainly of USA, especially making Hillary Clinton’s position very vulnerable and slippery in international arena, so much so that she said on Friday that her current job as US secretary of state was probably her last public position and that she would in future return to her roots as an advocate for women. I have experienced this brand of diplomacy consistently amongst corporate bosses in the US all through my management consulting career. It's very unfortunate the way people are fired in a hush hush fashion without even allowing a fair chance at proving themselves, a lot of the time because of faulty decisions of the higher management although in many cases, performance or lack of skill is an issue. But what i disagree is the lack of clear communication to the employee about his/her deficiencies. I have been told that such honesty is impossible in the American society because of the fear of being sued by the employee. Well, from a balanced perspective, then I have to conclude it's the entire setup which is at fault rather than blaming just a section of the society.

More later,

Anonymous said...

Sustain the beautiful text, went ahead and added to my opera feed.

Proj said...

Latest brand of American diplomacy, using a Swedish feminist and her friend to nab Assange with the help of an obscure Swedish law which as portrayed by the media is so funny. Interesting that it was the British police that arrested him.

http://timesofindia.indiatimes.com/world/us/Sex-accusers-boasted-about-their-conquest-of-WikiLeaks-founder-Julian-Assange/articleshow/7068149.cms

Sorry Naomi, don't mean to offend you, I know you are a big believer in top class infrastructure, lots of blueberries in your muffins no matter if it comes at the cost of hypocrisy or American style diplomacy BUT the TRUTH must prevail no matter how bitter it is. Satyameva Jayate, that what the Vedas say, not contemporary India off course, especially the Page 3 ones.

Proj said...

I would like to hear Naomi's comments on the recent Liz Hurley Shane warne drama. If my memory does not fail me, from her previous blog on HT, Naomi made her preferences very clear. She prefers the "challenging" types in her bedroom as opposed to the mundane family oriented types. She hasn't written on relationships for a while now although that seemed to be her pet topic while in India, the other favorite being picking every possible deficiency of Indian men. So Naomi, is Shane Warne the perfect MAN ?

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projenator said...

Anonymous,
Do you know German ? My Indian friends have told me it's very difficult adjusting to the place if you don't know German. What's your view ? I find the Germans somewhat different from the British/American although both are Caucasian.

Anonymous said...

Il semble que vous soyez un expert dans ce domaine, vos remarques sont tres interessantes, merci.

- Daniel

projenator said...

I don't claim to be an expert but I am a very open guy and mix with people from every culture because I strongly believe there's both good and bad in every culture, I just want to pick up the good and enrich myself.
I have quite a few friends from Europe (not many French, though) in America, where I have been living for almost a decade now although I was born and spent my teens in India. Contrary to most Indians, especially the yuppie ones, I don't believe that mimicking western ways and lifestyle can bring about enhanced satisfaction, happiness. While there are certain professional values to be imbibed from the west, generally speaking, western cultures do not instil strong enough family values which are very necessary in times of economic hardships as if the inherent assumption is that sun will never set in the western empires (extending it from just british empire). Governments in Western countries in general have built better infrastructure than Indian governments but private infrastructure in India is in no way that worse than in the west as Naomi makes it out to be. Also most Indian men might not be very alpha types but again while a certain alpha-ness is required to attract western women or westernized Indian women but that shouldn't make an Indian men any less global. Just because white men are undergoing a metamorphosis into humping machines in response to increased aggressive behaviour of women in their cultures, doesn't necessarily mean that's more progressive in civil sense, rather more animal like, if you will. Alpha values are contrary to family values but again family responsibilities are considered boring in the west and old age criminalized, so who cares ? In the mating and family set up, western cultures with some exception seem to follow the jungle rule.

--Proj

projenator said...

According to the BVA-Gallup poll of 53 countries, the French are the world champions of scepticism, with 61% of respondents saying 2011 will be "a year of economic difficulty". Britons were not far behind on 52%, Spaniards 48% and Italians 41%, the Daily Mail said.

The emotions of people in western cultures seem to fluctuate with the prevailing economic conditions, it's true in America as well. Asian cultures with poorer infrastructure than most of the west have more optimism and emotional stability, now this is not something which your scientists can see through a telescope or microscope and dissect in a laboratory, doesn't necessarily mean that these are not intrinsic to human nature. There's a lot western cultures have to seek answers, especially on the less mundane (some call it spiritual)side of human life. The easiest way to this is FAMILY values unless you want to get yourself dirty with spirituality crap which are not visible through most advanced microscopes, telescopes BTW.

Read more: 'French saddest, Indians optimists' - The Times of India http://timesofindia.indiatimes.com/world/uk/French-saddest-Indians-optimists/articleshow/7226770.cms#ixzz1AEHyQR00

Varahamihir said...

What happened Naomi? It has been a long time since December 1st 2010.

projenator said...

The truth is always bitter, difficult to digest.

projenator said...

http://www.indiaagainstcorruption.org/

This is a great thing to happen. I am all for it, joined them on Facebook and I am also joining the march in my city.

The fight has only just BEGUN, there's need for a lot of support to give it more momentum.

Anonymous said...

I have an opinion about the new systems and styles of living in india.Actually India dont have to run behind globalisation which greatly affect our most valuable culture. western countries r tactically looting our resources by cleverly replacing our cheap products by their goods.In medicine sector india is producing all medicines at a very low rate and are of good quality. African countries and some of our asian countries greatly depent on that. But our politicians are trying to give way to investments for western countries in that sector for thier personal intersts. please react ,bcoz our medical sector will lose some valuable medicines and also it will become unavailable for the poor.

Anonymous said...

Our progress as a nation can be no swifter than our progress in education.