Monday, October 12, 2009

Are we doing well or not?:The lie of the Recovery

Are we doing well or not? These are merely matters in human perception. We indulge in statistical studies, check econometric indices and ultimately depend on third party opinions about our economy, our society and our lives.

Most often or not, Media and Government plays a crucial part. Take the example of the current recovery which started with leaking of Citibank and BoA CEO's optimistic internal memo about operational profits.

Since then, Gamblers has taken the center-stage in the financial world. All stock markets rebounded to new highs as if a new energy source has been invented or a mineral-rich highly fertile continent has been discovered. What boasted the market is that the rich has found ways and means to corrupt each and every-one of G-20 governments.

The rich may be from Manhattan, Monaco or Mumbai, they were pleasantly surprised to find that all politicians worldwide want to power and wealth, not for their country, not for the society they promised to serve; but for themselves.

So US,Western Europe, Russia, India & China reels under severe unemployment. Brazil is the only exception, because its president is a rare exception.

While US and Western Europe gives a technically correct (not morally correct or real) data on unemployment, India & China gives none what to ever. Money keeps floating to and fro between Tax heavens and Stock or commodity markets. Nobel Laureate Paul Krugman call for Simplified products and services went to deaf ears. Derivatives is still the king and this time around the complexity of the lie is much more. This time the governments are hand in glove with these economic terrorists (who run these too big to fail organizations).

From October 2009, a bunch of godforsaken analysts will start jumping up and down (or they will lose their jobs) singing joy in YoY figures, please remember that the base on which these matrices/ parameters are calculated were plummeting same time last year. The First case in Indian IIP (Index of industrial production) figures of August 2009. Every analyst conveniently forgot that IIP blipped August, last year. And the stock market soared.

Economic Recovery means improvement of life of all, by all and for all. And that my dear friend is not the case now.

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