India and United States – Facts on Economic Matter

September 27, 2015

By Padmini Arhant

The incumbent Indian Prime Minister Narendra Modi overseas visit propagated as boosting foreign investors confidence in India is the current review.

For any nation, economic growth is vital to improve the living conditions especially in countries with vast majority in abject poverty, hunger, disease and illiteracy suffering over generations for better life.

The economic development to address burgeoning issues like unemployment, inflation, local business opportunity, rural economy assisting farmers in the agricultural front rather than seizing farmland to benefit corporate donors funding election campaigns, affordable housing, healthcare and education would be constructive.

On the other hand, promoting foreign agenda on behalf of financial institutions having reputation in sinking economies leave population in debt slavery under the guise of progress.

The plan executed to benefit core members in the gambit exacerbating economic woes and myriad problems for the nation.

In terms of foreign investments in India – the reform pledges to attract multinational corporations (MNC) ventures conforms to neo-liberalization – the hallmark of hegemony global economy policy.

The fact of the matter is capital funding in a nation like India need not be derived from foreign source. 

India’s predicament is outbound capital flight through black money, assets held in offshore accounts and tax evasions amongst the rich, famous and powerful depleting state treasury.

Any financing from abroad in Indian economy is typically utilizing India’s due national revenue laden with interest paid by the people and shared between external and internal operatives behind hoarding money in tax havens and Swiss banks fostering money laundering.

The ruling power in India were to crackdown on corruption beginning with political establishment in black money recovery instead of clamping down on humanitarians and peace activists –Prime Minister Modi and delegations’ business oriented foreign trips expenditure could be divested in domestic economy.

Furthermore, kickbacks on private and public sector deals and embezzlements ranking high on corruption scandals the government protection with political impunity is a serious setback for the economy.

The government response to these scams inversely punish those investigating corruption with job transfers to remote locations or removal from respective positions – the common occurrence in civil administration. 

Indian Administration Service (IAS), Indian Civil Service (ICS) and Indian Police Service (IPS) notwithstanding criminal bureau of investigation (CBI) officials are routinely subject to such treatment in high profile graft probe.

Upon collecting national income from the economic, entertainment and other commercial sectors with appropriate tax policy,

The banking sector capitalization facilitating liquidity flow for trade and commerce in the small, medium and large (SML) enterprise is viable without having to pay exorbitant interests risking state holdings to foreign lenders often submerging economy witnessed in Greece and similar experience by developing nations in the World Bank and IMF authorized financial undertakings.

The abundance in entrepreneurial skills and business acumen in India combined with financial resources could accelerate domestic productivity in the long proposed Make in India goal.

However, the ruling government arrival in foreign land touting for Make in India while spending $2.5 billion in defense purchase increasing India’s recent military expense to $10 billion is a huge contradiction in action deviating from projection.

The political trend with leaderships desire to extend term in office guaranteed in cooperation with foreign defense industry representing the military industrial complex. The quid pro quo apparently slight electoral discretion.

United States corporations vying for investments in India or elsewhere ignore ailing economy and fairly high joblessness at home despite tax breaks and other incentives to revive manufacturing, retail and export market.

The two scenarios – India and United States economies require native production to curb job losses and restore economic activity across the spectrum unlike priority to disproportionate military disbursements.

Hegemony sponsored neo-liberalization seeking open end access for multinational companies  in foreign marketplace whether emerging or developing economy favor shareholders and key investors profiteering to global labor force and indigenous businesses detriment.

Yet neo-liberalization falsely promoted as globalization against protectionism although the implementation thus far mainly safeguards MNC monopoly.

Public debate and scrutiny on government decisions pertaining to economy, political, social, environment and other related areas necessary to reinstate democracy.

Otherwise taxpayers funded governments and representatives are staged as the most powerful political figure, authority and cult phenomenon warning fact finders to refrain from challenging status quo confirming the departure from democratic system.

The systemic abuse of power and misrepresentation is the ominous sign of decadence.

Citizens fearing political class in contrast to politics concern over electorate reaction determines republic rule.

Peace to all!

Thank you.

Padmini Arhant

 

 

 

 

 

 

Greece – EU Ultimatum With Austerity

July 15, 2015

By Padmini Arhant

Following the national referendum early July, the international creditors and EU members, the German leadership in particular ruled out economically viable options such as debt write off and financial plan aimed at restructuring, capitalization together with growth oriented reforms besides spending cuts to rescue Greece from precipitous decline.

The recent EU summit has enforced more austerity in defiance to Greece citizens’ rejection of the failed policy responsible for Greece deterioration and similar impact across Europe leaving 25 million and more workers in the unemployment category.

The EU decisions evidently prioritize pride and pecuniary power over pragmatic solutions to debt crisis.

Another obvious sign in the ongoing development is EU re-attempt to remove incumbent government considering earlier outcome with plebiscite on austerity attached to government resignation upon YES vote went the other way.

Accordingly post EU marathon meeting, the determination to cause political instability instigating infighting in Greece during prime time of government preparing to present EU recommended grave austerity programs to the Parliament is not a coincidence.

The turbulence in Greece with external meddling in political affairs of a sovereign state has striking resemblance to events in Ukraine.

Ironically, the austerity proponents in EU consciously ignore the costs related to holding referendums and frequent elections by stirring political tensions to jettison the premier and the government not approved by them.

The involvements also pronounce the respect or the lack thereof for foreign state sovereignty.

I reiterate on EU bureaucracy costing EU citizens a fortune and yet EU dogma on austerity is extremity overriding rationality.

When a nation is deprived of income due to lack of investments in the economic sector saddled with common currency euro compromising competitive edge in trade and microeconomic activities,

The spending cuts and draconian measures arguably exacerbate economic conditions stifling any chances of recovery.

EU offer on the third bailout €86 billion tied to harsh financial terms is aimed at ejecting the present government rather than addressing the economic recession and liquidity problems in the country.

The contemporary practice to destabilize nations for ulterior motives guaranteed to affect sources especially in the inter-dependent regional and global economic environment.

EU and euro zone protectionists’ egregious doctrine on severe austerity proved a phenomenal failure and no longer sustainable. 

France is an  example of austerity stricken economy producing massive layoffs  and government legislation extending retirement age while reducing pensions and wages crippling the French work force.  

French Prime Minister Manuel Valls emphasis on Greece remaining in euro zone otherwise opposition to GREXIT was explicitly stated as geopolitical importance clarifying EU real intentions slighting Greece and other member states viz. Spain, Italy, Portugal and Ireland…economy. 

EU steps against Greece economic stimulus is counterproductive.

The insistence on trying same experiments expecting different results defy basic intelligence not to mention the expenses incurred in the repeat trial and error methods aggravating the process.

EU commitment is saliently towards saving euro zone and parallel government in Brussels than outreach member states with necessary financial package.

Greece government approach to resurrect economy and release the people from indebtedness lies in independent economic and financial management reinstating the original currency drachma backed by sound monetary, fiscal and trade policy.

The opportunity is far better and greater with people governed state in control of national assets and treasury unlike existing hierarchy subjecting member states to individual and EU parliamentary procedure on critical economic matter contributing to waste of time, resources and money in the austerity dominant era.

Perhaps Greece resonance in this respect could avert political turmoil ending economic misery.

Good Luck! To Greece population in claiming political and economic freedom.

Peace to all!

Thank you.

Padmini Arhant

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Greece – Fix It Or GREXIT Dilemma

July 7, 2015

By Padmini Arhant

Greece despite unequivocal NO vote against austerity compromised soon after the outcome with the finance minister Yanis Varoufakis resignation on euro zone officials demand stating the minister was unwelcome in the meeting.

The euro zone and EU gesture speaks volume of the respect or the lack thereof to democracy given the promotion of western democracy worldwide.

Furthermore the disposition reflects on the one world government (NWO) i.e. EU in Brussels direct interference in political governance of the member state and dismissal of sovereignty.

EU and euro zone expect Greece to stay in the Union to share the burden on euro volatility alongside stifling competition on trade and tourism favoring the major players Germany using euro and England opting out of euro.

However, there is no incentive provided to Greece in alleviating economic hardship with financial assistance to restore domestic banking system, emergency liquidity and internal cash flow to stimulate economy.

Greece using euro as the national currency is unable to exercise money circulation and distribution along with controlling inflation otherwise Greece has no control over EU and euro zone implemented monetary, fiscal and trade policy.

In fact this situation applies to PIGS states and Eastern European members economy under Brussels mismanagement.

EU and TROIKA austerity imposed on Greece and other recession hit economies exacerbating financial problems in the private and public sector.

In the absence of economic growth with capitalization at affordable borrowing rates, the cash strapped nations are pushed towards adversity with austerity.

The austerity proponents exempt them from fiscal restraints considering expenditure in Brussels run parallel government appoint delegates in various positions leading to unnecessary bureaucracy.

The costs are transferred to the citizens of the member states especially in the lower economic strata like Greece. Hence EU insistence on Greece for additional hikes in Value added taxes (VAT) to perpetuate Brussels extravagant operation only serving oligarchy and vested interests.

TROIKA involvement in Greece deviating from financial activities to choosing governments with frequent elections and forcing the recent referendum cost the state in contradiction to their prescription on austerity.

The plebiscite outcome with a YES vote anticipated by TROIKA was aimed at removal of Syriza led government from power preparing Greece for yet another polls to install TROIKA approved government at exorbitant expense to the people in Greece.

Again there is no recognition amongst TROIKA imposing will that contributes to more spending in the intentionally caused political tensions for instability.

TROIKA striking down proposals from the current Greece government and extending status quo might satisfy egotistical stance and essentially conflate the problems affecting the creditors and debtor.

Euro future is hanging in balance with disproportionate benefits to members within circuit not to mention the superficial value on the commodity conforming to currency maneuver trend.

Greeks with similar desire to stay in euro zone and EU need to review the experience in the past years up until now.

The dependency on TROIKA and EU for necessary breakthrough has not been forthcoming to relieve the ailing economy and instead the woeful measures are regarded the appropriate remedy saturating public and private debt in the country.

Greece political party Syriza concerns about leaving euro zone upon no positive developments in the negotiations between government and TROIKA would have to be transformed into preparedness with alternatives in returning to drachma that facilitates independent strategy on monetary, fiscal and macroeconomic conditions customizing applications to match targeted growth and output.

As for explanation to the electorate on the issue – any discerning citizen would realize impediments no longer obscure in the false sense of security in euro zone and TROIKA cart blanche authority ignoring reality in the harsh austerity.

The political party shift to a position away from the one adopted on campaign trail would be a broken promise when the decision is to serve the purpose other than republic progress.

In this instance Greece cornered without flexibility to restructure financial operations for economic boost besides debt settlement.

The extreme demands necessitate the viable option to reinstate drachma with sound monetary policy and financial as well as economic reform attracting investments in the economy and capital infusion in the banking sector.

The excessive reliance on bailouts from external sources with the pledge to remain under euro zone confined perimeters and TROIKA doctrine as safe haven when results proved to be counterproductive exemplify confidence and trust deficit in self-emergence and competence.

Nations survive and thrive upon sincere commitment to lead and perform exceeding the expectations demonstrated in hard work and integrity as collective responsibility with transparency and accountability to eliminate corruption and contain failures in all endeavors.

The comprehensive financial and economic plan on Greece recovery will be submitted subject to outcome on EU summit and financial discussion between the incumbent Greece administration and the other side.

Greece could FIX IT in the event of GREXIT with pragmatic solutions and disciplined methods blended in inspiration and optimism for economic resurgence.

Greece crisis will be monitored with relevant input until the matter is resolved.

Peace to all!

Thank you.

Padmini Arhant

 

GREECE – Plebiscite on TROIKA Austerity

July 4, 2015

By Padmini Arhant

Greece forced into referendum on austerity by IMF, ECB and EU is greed driven strategy.

Greed is a terrible disease and those affected by this illness could contain symptoms with self-restriction. When they are overwhelmed with greed they succumb to fate. Greed consumes them.

Greed is the cause for them to become international predators than creditors.

Even Jesus Christ could not reason with moneylenders and compelled to use violence. Jesus Christ whipped them and condemned their unreasonable conduct.

TROIKA could address this matter through proper engagement with the present government and accommodate reality into equation.

Austerity has been devastating for nations and the people in Greece are simply threatened to submit to TROIKA’s extortion.

TROIKA and forces galvanizing YES vote in the plebiscite do not necessarily win with fraudulent means to show victory.

The YES vote to TROIKA would give legitimacy on debt slavery. The YES voters are in kamikaze operation for they are not only doomed, their careless action would make the remaining citizens to share similar destiny.

TROIKA’s bailout requirements is a direct claim and control over Greece economy and human capital i.e. the citizens to bear debt burden lasting over generations when the survival of the present population is made nearly impossible with their austerity policy.

Austerity on Greece is prosperity for TROIKA. Again not everlasting as anything founded on deceit and exploitation would expedite the source conclusion.

TROIKA is clueless about austerity considering the life of opulence they maintain as entitlement at Greece and other nations expense.

In the Dark Age, human mind is able to relate to pain only through personal experience. That’s why there is apathy to human suffering among those prioritizing personal well-being and pleasure.

The financial institutions behind GREECE meltdown were handsomely rewarded for the reckless and unlawful indulgence as investment bankers trading hedge funds with toxic securities in the global market.

These firms were treated with special attention using United States taxpayer funds in the bailout.

Now United States as the chief controller of IMF together with EU and ECB lack credibility in their demand on GREECE and people of other recession hit economies to oblige.

The people are enduring the sins committed by financial brokers and major players in the windfall adopting unscrupulous practice.

The compare and contrast between Germany and Greece do not reflect the facts and as usual missing in substance.

Greece contribution to the world with philosophers like Aristotle, Socrates, Thales and Epicures to name a few amongst several renowned in this field, astronomers – Aristarchus and Eudoxus, physicists viz. Archimedes, mathematician Pythagoras and political scientists are slighted in the biased comparisons presented as analysis by TROIKA hired communication media.

Germany success as euro zone member and leading state in EU is because of exceptional advantage to Germany over the rest in the 28 members bloc.

Germany – the predominantly export oriented nation specializing in heavy metals and high end manufacturing goods related to automobile, aviation and other transportation industry use euro in leveraging against Greece and counterparts from eastern Europe in trade.

German deutsche mark was not feasible in the export trade especially with Europe in deep recession and vagaries in the global economy.

On the other hand euro facilitates Germany to neutralize volatility via distribution amongst members in EU.

The debt saddled states like Greece, Spain, Portugal, Italy, Ireland (PIGS) and eastern European countries are essentially providing for Germany in the balancing act with investors raking profits in Greek bonds compared with low yielding German security in the lending exchange amongst TROIKA.

The banks capitalization exclusively focused on lending for debt repayment to TROIKA ignores economic development in Greece and PIGS states.

Greece returning to original currency drachma would enable export to developing nations and emerging economies besides tourism generating revenue with global visitors from far and wide.

Germany described as nation not paying high wages as Greece is a misnomer.

In fact Germany social security payments and unemployment benefits are far greater in the industrialized world and adapted by Australia in the hand out to those choosing to remain unemployed leaving the immigrants to drive the economy.

Australian dole checks largely drawn by white majority in the country is the influence of Germany policy.

Germany industrial output is from East Germany more than the west given the hard labor tradition under Soviet rule. Germany productivity also attributed to immigrants in Germany despite reservations towards immigrants in deutsche land.

Greece need to allocate budget to expand broadband access and invest in technology based government services that would cut down bureaucracy and shift the labor force in technology oriented jobs for efficiency and transparency.

Greece could also mobilize the nation towards renewable energy like solar and hydropower minimizing energy dependency and costs in the public and private sector.

Greece anti-corruption measures beginning with government from top to bottom would build trust and seriousness in the treatment of the epidemic.

Further on the economic front – Greece needs to use the natural resources such as marble, clay, nickel, coal, bauxite, ore and chromate notwithstanding lignite, petroleum, iron ore, zinc, lead, magnetite, salt and hydropower potential to the maximum.

Greece could promote local production and business in these areas with incentives to small, medium and large companies inviting subscribers to government projects and spearhead domestic campaign to bring offshore holdings to jumpstart economy.

Agriculture land to grow crops and produces for the country and overseas markets would be another economic boost alleviating poverty and unemployment.

Tourism showcasing the Greek islands and Parthenon’s and other attractions would be lucrative with drachma as the currency rather than euro to stifle competition from neighbors on euro currency that makes travel expensive for foreign tourists visiting Europe.

These are preliminary steps to rebuild Greece economy and improve financial situation.

Greece should recognize that existence in tandem with EU and TROIKA financing would only deplete the treasury. The money borrowed from them on austerity basis proved destructive thus far.

Calling for direct investments and job-oriented programs are the meaningful ways to revive economy.

The resistance from TROIKA in this context exemplifies profiteering from citizens’ economic misery that cannot be extended any longer.

Lending for exacerbating economic woes via austerity is TROIKA doctrine. The scenario is imposed with no flexibility for reconciliation.

TROIKA trend is unsustainable for them and the victims of austerity.

The prevalent austerity to intensify citizens plight best renounced and instead the practical approach to resurrect economy is the viable solution to Greece problem.

Greece is at the crossroads and citizens exercising discernment with NO vote in the referendum paramount to SAVE GREECE from foreign seize of assets along with economic and political freedom.

Nation prevails with people pledging allegiance to sovereignty.

May wisdom and rationale provide guidance in the Greece referendum!

Good Luck! to citizens and the government in Greece in the solidarity against austerity.

Peace to all!

Thank you.

Padmini Arhant

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Economy – Exacerbating Crises With Erroneous Policies And Stratagems

August 30, 2013

By Padmini Arhant

The economic woes confronting the world are unemployment, underemployment, trade deficits, lower consumer and investor confidence and rising debts in the sluggish economy.

The economic downturn that began in December 2007 attributed to financial crises and sub-prime mortgage as well as hedge fund debacle relieved bankers from liabilities using  taxpayer bailouts transferring the burden on ordinary citizens in the economy.

Bankers in control of money management in the United States through privately owned and run Federal Reserve assumed absolute power with no oversight despite huge anomalies found during internal audit. 

The missing $ 9,000,000,000,000 i.e. $ 9 trillion acknowledged by Inspector General Elizabeth Coleman during Congressional hearing is the tip of the iceberg with more alarming activities surfacing on bankers’ modus operandi.

The banking syndicate comprising Bank of England  – epicenter for fraudulence having laid the foundation on monopoly over national and world economy leads the Federal Reserve in the United States, European Central Bank (ECB), IMF, World Bank and major European Banks with monetary policies aimed at maintaining the status quo.

While IMF and World Bank have successfully derailed economies of developing nations,

The strategy for Europe and North America premised on severe austerity stressing the need to address fiscal cliff generated by banking and financial sector has resulted in dire economic consequences witnessed in Portugal, Ireland, Italy, Greece and Spain (PIGS) although the rest of Europe are not far behind in sharing the dismal state.

The elite group reining authority over global economy is deploying methods in withdrawal of quantitative easing restricting cash infusion or economic stimulus allowing arbitrary interest rates adjustments at Federal Reserve discretion.

Federal Reserve Chairman Ben Bernanke issued a statement on June 20, 2013 that quantitative easing program is in the process of elimination completely by the middle of 2014. 

The detrimental plan produced shock waves in stock markets worldwide the following day i.e. Friday, June 21, 2013.

Regardless, the drastic measure is already underway with limitations on interjection ignoring the necessity for economic revival.

The constraints on liquidity flow facilitating interest rates to rise evidently counterproductive considering the adverse impact on business and home ownership  in the growth deficient economy.

Consumer spending contraction affecting retail industry with ripple effects on manufacturing and interconnected operations extends negative trend in the economy.

Federal Reserve decision to deoxygenate i.e. deprive economy from necessary money distribution via cash and credit backed with redeemable bonds and securities in the absence of growth oriented investments deepening economic problems and stalling recovery.

The money supply held within major private banks lacking in transparency and accountability misleads economy and in worst case scenario adopt aggressive tactics like assets seizure and savings depletion sparing neither the states nor individuals witnessed in the Mediterranean nation – Cyprus deal.

Furthermore, Wall Street financing of political system undermines sovereignty leaving the voters at financiers’ mercy on legislation.

The predicament for citizens is subjugation voiding their ballots in the polls with corporate funding of political campaigns and recipients allegiance to donors against electorate and national interest.

United States administration and congress with rare exceptions prioritizing corporate agenda over constituents’ basic needs like jobs, housing, health care and environment pose greater challenge for the people paying the price in political stalemate on issues concerning the vast majority.

The nation is grappling with multitrillion dollars expenditure on military expeditions and permanent army bases across the globe.

Simultaneously ineffective regulations accommodating past practices into the present and erroneous strategies targeting safety net features plus lifeline products favor financiers and special interests groups in the national and international domain.

The efforts to privatize social security having been the only reliable source of income for retirees and baby boomers nearing retirement alongside home mortgage ponzi scheme replicated in student loan scams forcing fresh graduates and predecessors submerge in financial debts prior to the start of career stifle productivity and revenue reflected in national GDP and current account.     

Additionally, trade policies under globalization benefits stake holders in multinational companies and the top 1% drive to accumulate wealth at the remaining 99% labor costs  empower the privileged class widening the gap between rich and poor in the world.

Besides the taxation policy disproportionately favor the affluent members with offshore tax havens and Swiss Bank accounts set up to promote tax evasions protecting illegitimate holdings and profiteering from illegal wars wasting taxpayer funds. These issues apparently not an important factor in discussion on fiscal responsibility.

The destructive course is unsustainable having exhausted means to exploit workforce and taxpayers worldwide with reckless and irresponsible activities discarding ramifications experienced by significant population struggling to make ends meet in their life.

In conclusion, the economic freedom made possible with republic governance engaged in money printing and circulation conforming to traditional function including monetary policy is the immediate priority to release nations from fictitious debt cycle developed for siphoning national treasury. 

The deceptive concept creating the perception of generational indebtedness with gloom and doom exempt the real beneficiaries in disguise as moneylenders from universal rules and standards.

Global action demonstrated in national call to abolish the Federal Reserve and counterparts in Europe and elsewhere is the way forward assigning the role to public represented democratic government with appropriate checks and balances for efficient performance.

The era of selective prosperity and opulence thriving on stratagems triggering global confrontation and warfare  is nearing termination in accordance with natural law setting expiration date for a new beginning.

Best Wishes to humanity at large for quantum leap progress uplifting the poor, the disadvantaged and the disenfranchised exemplifying meaningful accomplishment.

Peace to all

Thank you.

Padmini Arhant

 

 

 

 
 
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May Day 2013 – Honoring Labor Force

May 1, 2013

By Padmini Arhant

May Day is observed as an international Labor Day honoring work force – the invaluable resource to the economy.

Human capital being integral part of business contributing to economic growth requires acknowledgment and development for a nation to be strong and competitive within and outside the country.

Regardless of economic system – market economy or socialist structure, the workers represent productivity base in manufacturing and service industry while middle and senior management maintain organizational performance introducing ideas, research and innovation, policies and overall decision making process.

Capitalist and socialist economies with the former comprising majority private sector and latter public enterprise involving government or national funding dependent on skilled workers and ingenuity to produce required output maximizing available potential at any given time.

The foundation for this achievement begins with affordable quality education, training and technological expertise.

Additionally, expansion of knowledge through continuous learning and acquiring aptitude enhances qualifications in a particular or diverse field broadening the horizon.

However, the dilemma for highly qualified and those meeting relevant employment requirement is prevalent job insecurity with corporations prioritizing short term soaring profits over sustainability and stability.

In the contemporary setting, company expectation on individual capability far exceeds actual overhead costs with preference for competence on par or adjustable level.

The requisite allow businesses to grow quantitatively considering the options at their disposal marginalizing workers for primary shareholders substantial benefit in the organization.

Furthermore, neoliberal concept imposed in globalization framework facilitating multinational operations anywhere and accessibility to vast labor market plus manual functions substitution with technology poses greater challenges for job applicants having to compete at national and international front despite satisfying eligibility criteria.

As a result, new entrants lacking in job experience wait longer for a breakthrough and earn less besides burgeoning student loan debt in the United States also currently turned in financial institutions favor comparable to housing market ponzi scheme.

The late twentieth and dawn of twenty first century initialized global investments perhaps to boost international trade activity.

The implementation focused on venture capitalists profiteering with anticipation of Midas touch phenomenon.

Superficial indulgence contributed to economic boom followed by bubble burst amid Wall Street wild speculative explorations overshadowed by U.S. invasions of Afghanistan and Iraq costing trillions of dollars – the culmination led to status quo.

Subsequently, the dynamics of corporatism and socialist capitalism in the too big to fail frenzy anchored on big banks bailouts and insurance industry constricted liquidity withholding cash flow otherwise divested in banking sector acquisitions and mergers depriving economic stimulus in the United States and Europe.

Meanwhile, U.S. tax dollars divestments continue until today extending illegal occupation of foreign land beyond scheduled withdrawal date in Afghanistan, aggression in Mali and sponsoring terrorism to destabilize sovereign states Libya, Iraq, Syria and the entire region.

The current domestic and foreign policy in the United States and EU is predominantly responsible for inter-continental and global economic meltdown with massive unemployment having contagion effect.

Neoliberalism conceptualized to benefit top 1% at the remaining 99% expense under globalization auspice drastically affected blue collars and bulk employment in various industries with labor and environment laws undermined to suit corporate maneuver backed by political establishment.

Whenever working conditions and union disputes are brought to public focus – the typical reaction to critical matter is attributed to Marxism or Communism.

Inventing communism – the deceptive utopian theory in practice aligned with hegemonic goals i.e. reining political control over nation and territorial annexations aimed at foreign resources has been a convenient tool to justify wars like Vietnam and,

Consequently replicating model in the creation of al-Qaeda serving false pretext for the so-called war on terror to invade and occupy sovereign states in the world.

Reverting to workers related issues – even though there are variances in corporate treatment across the globe the common denomination leads to exploitation.

The recent incidents involve stalemate between Colombian workers and General Motors,

The miners problems in Latin America and South Africa ending in casualty.

In other instances Walmart, Honeywell job replacements and denial of health care benefits to United States staff with corporate record profits reserved for executives extravagance.

Likewise Walmart neglect of safety procedures in Bangladesh garment factory that claimed around 100 lives with no accountability.

France stifling pensions, teachers and nurses strikes expressing huge disappointment share United States counterparts sentiments in incumbent Presidency elected as Socialist government and in reality sworn allegiance to oligarchy.

France and euro zone members under EU governed strategy exacerbating people suffering with joblessness from severe austerity.

Notwithstanding U.S. present stance threatening social security, Medicare and lifeline programs with educational funding slashed citing budget constraints endanger citizens survival and future prospects under the guise of fiscal responsibility.

In comparison, Washington misplaced loyalty through multi billion dollars financial aid to Israel to oppress and persecute Palestinians as well as orchestrate terror in Syria, Iraq, Libya and throughout Middle East has no stumbling block in elevating debt ceiling or national deficit with generational impact.

Ordinary citizens as workers, consumers, taxpayers and electorate are consistently ignored with corporate earnings shared among core management and key investors widening economic disparity and social inequality in society.

Workers bear the brunt in the misuse of power either by Union leaderships sometimes betraying union with complicity in corporate mismanagement and discriminatory dealings or company failure in resolving crises effectively for common good.

In certain circumstances, union extreme demands upon employers taking undue advantage of dependability like in Australia generates loss of revenue with pervasive adversity.

Alternatively political imprudence and cavalier approach in relentless warfare whether conventional, drones or terrorism in proxy versions directing national assets to destructive purpose evidently a huge economic liability and devastating to nation at large.

Summarizing the importance of Labor Day – An occasion with a reminder for economic and political leaderships to appreciate the significance of labor force with investments in education, and jobs providing opportunity to excel in entrepreneurial, scientific and academic fields, arts and entertainment…or any discipline strengthening national achievements in every frontier.

Lastly adopting the principle – Work is worship and workmanship delivered with commitment and interest would guarantee success in all endeavors to mankind.

Wishing the world fruitful labor days all year around.

Peace to all!

Thank you.

Padmini Arhant

India – Neo Liberalization Economic Policy is Anti-Republic Ideology

December 4, 2012

By Padmini Arhant

The Congress party led UPA (United Progressive Alliance) coalition government welcomed neo liberalization economic policy considering hegemony influence over the administration key members and party chief in advancing globalization evidently suitable to establish feudalism under the pretext of modern capitalism.

Notwithstanding the fact, the head of the state and main cabinet ministers held positions at World Bank prior to being nominated by hegemony to promote the debilitating neo liberal concept in India.

Hegemony agenda on world economy is redefining capitalism exclusively benefitting the multinational corporations at small medium enterprise as well as average citizens detriment.

Not only the term neo liberal is deceptive but also the hegemony distortion of liberal and progressiveness in economics and politics confirms steadfastness to legalize authoritarianism consistent with the trend to the White House latest action legitimizing arbitrary drone strikes generating massive innocent civilian casualty.

The genuine liberal and progressive characteristics pose impediments to hegemony extremism and ultra conservatism essentially the protectionism that guarantees financial security to corporate conglomerate on their terms and conditions worldwide.

Hegemony is strongly opposed to protectionism that ensures public and national interest like preserving natural resources and human capital from foreign exploitation.

However, the obstacle is maneuvered through hegemony nominees in political system among the ruling power along side weakening opposition to rein control on government legislation that governs the economic sector implementing policies conforming to conglomerate agenda – i.e. broader access to market share and profits divestment offshore preferably in tax havens evading scrutiny.

The neo liberal ideology targets nations exacerbating society endurance on pervasive corruption advising subservient political power to remain committed in declining anti-graft legislation despite national demand.

Indian government is currently engaged in passing Foreign Direct Investment (FDI) allowing Walmart and other mega corporations’ retail monopoly regardless of the measure proved counterproductive.

Similar trade policies introduced under Free Trade Agreement – FTAA, NAFTA and CAFTA in Latin America and Asia was responded with factory workers and manufacturing sector protests in Columbia, Panama, South Korea…and elsewhere.

FDI devastating impact on vast majority surviving as retailers and local street vendors is apparently not a major concern for the political leaderships sworn allegiance to external global power.

India is unfortunately subjugated through elusive economic proposals favoring hegemony goal to derail growth widening the existing gap between the rich and poor.

FDI implementation would cost small businesses and shop keepers livelihood even driving them to situation experienced by farmers forced to commit suicide due to corporations like Monsanto stranglehold on farming community at the national political power invitation.

Besides FDI facilitates foreign exchange inverse flight contrary to political misconception on Forex reserves advantage currently debated in Indian Parliament aiming to circumvent the matter by seeking vote on Foreign Exchange Management Act (FEMA).

The traders nationwide should demonstrate against the erroneous decision and scuttle the misguided economic strategy threatening India’s domestic prospects linked with appropriate income distribution.

Another contentious factor with FDI is subsidized labor with cheap overheads, a common attraction for foreign absorption of market holdings resulting in huge employment displacement largely affecting women and marginalized demography.

In this instance it is noteworthy that Muslim and diverse groups are potentially at risk given their involvement in commercial activity as the chosen and sometimes circumstantial profession.

Instead the government utilization of capital and foreign exchange reserves in export oriented technology and mechanisms from within and abroad to enhance infra structure modernization contributing to work force expansion rather than contraction could be beneficial to India and global economy reviving multilateral trade.

FDI in this context deprives fair competition with the premise disproportionately lucrative for big corporations predator instincts significantly affecting job market and economic viability.

Obviously, the political opposition is subjected to task in exemplifying prudence and diligence that would determine their commitment or the lack of in safeguarding economic future heavily compromised upon Parliament approval of the FDI bill.

Simultaneously, Indian democracy is challenged in foreign disguised control via proxy rule necessitating civil society activism and intervention to avert catastrophe.

The business associations across the country are required to come forward and assume responsibility in preventing history from repeating itself semblance with East India Company venture that led to imperialism two centuries ago.

Hopefully rationality would prevail in abandoning FDI used as political tool to undermine the legitimacy of largest democracy in the world.

Wishing small entrepreneurs and mainstream success against political collusion in disenfranchisement on economic opportunity.

Peace to all!

Thank you.

Padmini Arhant


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Russia – St. Petersburg, International Economic Forum 2012

June 24, 2012

By Padmini Arhant

International economic forum 2012 held in St. Petersburg, Russia focus on Russian economy and energy sector relevant for the BRICS member.

Russian market liberalization with incentives for investors might have led to high end deals at the meeting.

However, moderation prudent on all measures prior to overarching relaxation of rules based on expectations for lucrative returns.

Russia’s policy in unrestricted capital flight to domestic and foreign investors with a request to new venture capitalists to expand upon being successful in initial embarkation is anticipation not necessarily incumbent upon beneficiaries deriving gains from unlimited access to national resource.

The economies luring capitalism to stimulate growth would enhance opportunity in defining engagement process through legislation not only for local competition survival but also safeguard sovereignty.

Besides monopoly of market share undermining labor and taxation laws including environment standards are common experience among nations inviting foreign investment.

Another major factor being reciprocation in offshore trade often does not conform to terms and conditions with arrangement favoring one and not another.

Mutual trust violation in currency adjustments or trade imbalances also leads to unnecessary tension between interdependent partners in the otherwise resolvable disputes that are once again used for geopolitical agenda.

Capitalism providing fair income distribution contrary to status quo and abandoning practices to establish control on sovereign national assets such as oil, natural gas, minerals and various commodities among the products with human capital regularly exploited especially in developing nations would facilitate viable economic climate.

The contemporary invasions under false pretext evidently counterproductive and multinational corporations with energy sector, defense and finance industry in particular among others instrumental in cataclysmic warfare causing death and destruction alongside political instability urgently required to change course from adversarial role to honoring territorial integrity,

Capitalism in the new millennium reining control over political systems in national and international domain through campaign financing and legislative authority set dangerous precedence and predominantly responsible for democracy decline.

Russia receiving funds for discretionary spending from Middle East viz. Kuwait generous contribution $500 million to RDIF (Russian Direct Investment Fund) and U.S. initiated membership to international organization ITO with no strings attached would perhaps allow recipient to participate on equal footing without compromising UNSC veto right.

Furthermore entering into business contracts with profit sharing in both nations – overseas as well as partner domicile quintessentially end lingering uncertainty winning consumer support and investor confidence.

State capitalism on key programs such as health care for all with an option to seek private medical treatments,

Compulsory free education to poor and lower income category to boost literacy rates across the nation,

Adequate funding for quality higher education to prepare nation with skillful work force,

Subsidized housing with essential conveniences in exchange for involvement in community projects would eliminate crimes and social problems that are costing taxpayers more in penitentiary upkeep and running prison camps like in the United States.

Protecting retirement funds to guarantee financial security to retirees and baby boomers,

Veterans’ benefits extended to them and their families during and after national duty.

Periodic improvement with technology oriented civil services and infrastructure maintenance are core and integral part of public sector undertaking to ensure healthy, educated and socially integrative society.

Accordingly crackdown on bureaucracy and corruption posing impediments to genuine progress is an immediate priority.

Nationalization, privatization and quasi privatization would complement functionality wherever applicable.

The diversity would address deficiencies in areas vulnerable to fluctuations and unexpected events demanding intervention.

Regardless appropriate regulations are necessary for checks and balances to create long term growth.

The setup deserves due attention and action on individual basis beginning with banking and finance extended over to other areas of commerce.

Nations assuming direct power over money supply imperative exemplifying national ownership at present referenced in sovereign debt with constant monitoring aided by effective fiscal and monetary policy.

Simultaneously surplus allocation towards national reserves would alleviate austerity or tax increase in dealing with market volatility and economic or financial crisis in the global environment.

Liberating economies from private management under prevalent Federal Reserve or Central Bank with nationalization of monetary unit and core banking activities plus oversight on national and private financial institutions to avert serious meltdown would guarantee fiduciary reliability.

Sustainability premised on solid foundation accompanied by robust stimulants would provide steady and progressive trend.

Energy metamorphosis to contain carbon emissions and economic impact on natural gas and oil producing nations merits exclusive presentation.

Similarly euro zone analysis with pros and cons on recent developments will be a separate topic of discussion.

Russia – the host nation having achieved many business prospects at the consortium acknowledged for the International Economic Forum 2012 that brought more than 50 countries to showcase respective accomplishments and vision.

Peace to all!

Thank you.

Padmini Arhant

United States – G8 Summit May 2012

May 19, 2012

By Padmini Arhant

Warm Greetings! To G8 leaders at the 2012 summit in Camp David, Maryland.

The exclusive membership represented by North Atlantic nations – United States, Canada, United Kingdom, Italy, France, Germany with the exception of Russia and Japan might have the opportunity to shed light on current events in Europe and the usual targets North Korea, Iran and Syria on the security context.

However, the organization validity would be poignant upon integrative approach rather than isolationism that are obsolete and redundant evident in the status quo.

Dissolving G8 and improving G20 forums in dealing with global challenges would be frugal in the contemporary austerity era saving time and valuable taxpayer dollars besides correlation with relevant geopolitical and economic dynamics contributing to global sustenance preventing catastrophic meltdown.

Economy – Euro zone objectives lacking in candor and specificity responsible for members precipitous decline not only in economic status but also political stability considering the latest instructions from dominant powers to Greece on austerity, referendum and general governance.

Similarly France and PIGS countries sharing the dilemma expected to follow suit severely undermines national sovereignty in exchange for membership demanding more and providing little or none to the manufactured crises in the region.

While rigorous measures implemented much to the population detriment in Euro zone rescue efforts,

The source causing the chronic problems for euro zone subordinates –

The central banks viz. ECB, Bank of England, the privately owned Federal Reserve in the United States, IMF, World Bank and prominent western financial institutions having emerged the real beneficiaries instead of being held accountable ironically protected from any potential financial calamity.

Governments hit with worst economic recession in Europe are subjected to massive layoffs in the conditional monetary proposals neglecting euro zone taxpayers money wasted in hiring European commission bureaucrats apparently appointed for life costing ailing EU economies billions of euros and raising credibility factor in fiscal treaty.

Credit rating agencies downgrading Spain and Greek banks for bad loans on the books generating major liquidity concerns contrary to treatment against western counterparts – the origin of subprime mortgage and hedge fund debacle exempt from such standards and rewarded with taxpayer funded bailouts in trillions of dollars since 2008 until now.

The discriminatory practices directly affect public depleting hard earned savings exacerbating financial woes for college students and small-medium business owners constituting the backbone of the economy as workers, consumers and taxpayers in the society.

Another G8 dogma consistently pursued benefitting the privileged despite negative returns for nations in Latin America and Asia like South Korea is Free Trade Agreement.

Free Trade Agreement unlike Fair Trade Agreement sought by nations across the globe deprives negotiations on equal footing subjugating partners for unlimited access to domestic markets, national resources and human capital exploitation at respective citizens misery.

Again at this G8 meeting, Canadian Prime Minister Stephen Harper enthusiastic pledge to promote Free Trade Agreement ignoring partner nations experience demonstrated in main street protests confirms the nexus group priority on global dominance.

Agriculture – G8 influential members in cohort with powerful corporations viz. Monsanto and agro based manufacturers behind farmers deteriorating conditions to survive and effectively compete in the globalized setting led to suicide and bankruptcies amongst farming community worldwide.

Politics and Global Security – Fundamental transformation with departure from U.S. led NATO military operations and provocative deployments adopting peace, diplomacy and economic development would clarify G8 commitment to humanitarian progress.

The political motives aimed at destabilizing West Asia through –

Arms supply sabotaging ceasefire in Syria,

Crippling sanctions against Iran even in the absence of nuclear capability per U.S. and Israeli military and intelligence reports,

Decimating Iraq, Afghanistan and Libya,

Authorizing Saudi Arabia with illegal annexation of Bahrain for strategic control is anything but democratic to intelligent minds in the international domain.

Environment – The trend continuity reflected in environmental goals with fossil fuel and nuclear industry financing political campaigns jeopardize climate talks from fruition.

More pertinently defense industry and Council on Foreign Relations (CFR) combined with Trilateral Commission driven foreign policy determination to establish one world government through permanent occupation and illegal invasions pose existential threat to humanity endangering life and habitat.

Transfer of power from oligarchy and monarchy with imperialistic aspirations to republic rule is the only viable solution for universal peace and prosperity.

The nation at the foothills of Himalayas – Nepal successfully dethroned monarchy rejecting feudalist system in modern age.

Western nations and allies in this regard maintaining medieval kingdoms and fiefdoms under ceremonial pretext but in reality wielding tremendous authority is a paradoxical trait for shadow powers envisaging space colonization.

Dreams for greater good could be an eventuality contradictory to narrow vision premised on self-interests remaining a mere fantasy.

People power is the imminent future for mankind with pervasive freedom, equality and tranquility.

Peace to all!

Thank you.

Padmini Arhant

Greece – EU Bailout and Austerity

February 8, 2012

By Padmini Arhant

European contagion originated from the Mediterranean country – Greece.

Last year EU monetary assistance with €110 billion tied to untenable terms and obligations rendered the expectations beyond normal scope.

Accordingly, Greece is still struggling to overcome economic woes despite severe austerity and political reshuffle.

The earlier government under Prime Minister George Papandreou efforts to contain the rising debt and,

EU pressure to prioritize deficit trimming through rigorous spending cuts evidently led to GDP contraction by 6%, budget deficit at 10% and 18% unemployment respectively.

In the poor economic growth rate and looming financial liabilities, the creditors conditional offer demanding drastic expense reduction directly affects the core revenue base – consumers and taxpayers.

The attempt on deficit control without income is enforcing mandatory borrowing and,

Massive cuts in vital services cripples the economy to the point of diminishing return.

Tax hikes at any level could exacerbate the burgeoning crisis especially with unprecedented layoffs in both public and private sectors leading to industry workers as well as state employees nationwide strike.

Instead Greece and other economies like Spain, Portugal, Italy and Ireland in euro zone would enormously benefit from job-oriented investments incentivized with tax breaks, guaranteed dividends and equity enhancement to prospective investors.

European Central Bank, IMF and other international banks capital infusion with strict recommendations result in joblessness.

Funds directed towards economic sector for job creation would stimulate economy facilitating income source to meet budget and payments on borrowing.

Short term fund raising through treasury bills and bonds enables survival amid speculations on financial liquidity.

The propositions on Greek’s private debt write off up to 70 percent or more would provide relief in deficit management allowing appropriations towards economic recovery.

However, EU, ECB and IMF loan stipulations on €130 billion or ($171 billion) over and above cuts agreed to about 1.5 percent of GDP by current Prime Minister Lucas Papademos is the repeat of erroneous policy that precipitated economic and financial meltdown across Europe.

IMF’s similar strategy with Romania dependent on credit for state budget commitments contributed to economic downturn due to extreme lending criteria.

Financial institutions and monetary organizations purpose is useful in building economies applying generic and specific models to address individual requirements.

Greek economic surge and financial recuperation could be supported with job restoration via domestic and foreign investments qualifying the G-20 favored globalization concept.

Under same auspice, trade activities promoting exports would revive manufacturing, service and retail industry besides boosting small medium enterprise competitiveness.

Although financial assistance are necessary to restitute state solvency and credit rating,

Finance industry, corporations and wealthy entrepreneurs in Greece could ease the burden on the economy alongside government initiatives to salvage the situation.

The economic resurrection with prudent investments would need modification for a vibrant Market economy.

Market economy – 80% and Government managed programs – 20%

While the bulk of the economy would fall under free market system with oversight to prevent past mistakes responsible for the status quo,

Preserving core social programs under State purview are important for sustenance and they are –

Pensions, retirement savings or Social Security,

National Health Care with options

Veterans Affairs including rehabilitation and care,

State funding for affordable education, scientific research and technology,

Subsidized housing to accommodate non-qualifiers in the regular home finance.

Public services utilizing technology to the maximum potential and,

Environment protection agency to co-ordinate on national and international mandate.

Stringent laws against corruption within society beginning with government bureaucracy, finance sector and across the economic spectrum could yield financial savings.

Tax reform closing tax evasion loopholes and unaccounted funds or hidden assets retrieval from domestic and overseas bank accounts.

Market economy with life saving programs under government ambit could be a profitable and secure synergy complementing one another.

Greece in euro zone has shared gains and losses with euro fluctuation prior to economic recession.

The impact on Greek economy from euro volatility could not be discounted in the European trade.

The perception of Greece membership in euro zone as a liability could be transformed into an asset in reality with appropriate rescue package designed for economic progress than financial bailout.

Unlike the previous aid, EU approval of €130 billion to Greece in the interim could set the frail economy on trail with fiscal, trade and monetary policy restructuring for better economic performance.

With political elections on the horizon, Greece could experience economic productivity through local and foreign investors recognition of lucrative deals available at the present time.

Greek government relentless pursuits in energizing the economy would minimize ambivalence among creditors reversing the trend in capital provision.

EU, ECB, IMF and global finance to Greece on feasible conditions would deliver positive outcome strengthening euro zone and the member states economy.

The distinction between banks bailout and assistance to weak economy is the beneficiary with former was top 1% whereas the latter represented by 99% in the society.

Considering the predicament and inter-dependency in global economy,

Greece and other nations could not be abandoned or challenged with extraordinary conditions detrimental to euro zone and EU economy.

The leaderships and authorities at EU, ECB, IMF, International banks and euro zone are urged to kindly extend financial credit to Greece with a new opportunity to rebuild the economy and organize fiscal house in order.

Prime Minister Lucas Papademos , the opposition leader Antonis Samaras and all other elected members,

Notwithstanding, the economic leaderships in Greece are confronted with daunting tasks ahead.

The consensus in public and national interest would reflect the political will to resolve the persistent financial problem winning republic confidence and creditors trust in the capital market.

Good Luck! To citizens of Greece and the government in prevailing in financial and economic security.

Peace to all!

Thank you.

Padmini Arhant

 

 

 

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