California is in financial trouble- that is no secret with a large portion of the state’s income coming from sinking property tax revenues. On top of that our wonderful officials spent months bickering over a budget, causing a whole mess of problems while living it up on their expense accounts. Due to that same "budget […]
The School and the Schoolboy in India
Many of us India have always wondered about where the tax payer’s money is going. Ever since Rajiv Gandhi made that famous statement about 15 paisa of every rupee allocated by the state was actually utilised for the given purpose, the figure has slid down now to 5 paisa! So this story of a young […]
Iceland Nationalizes Third Major Bank, Halts Stock Trading
In a move to prevent its teetering economy from falling into bankruptcy, Iceland ceased all trading on its stock exchange until Monday, and took over Kaupthing, the country’s largest bank. Awash in Red On Thursday, Kaupthing, Iceland’s largest bank, became the third of the country’s top three banks to be taken over by Iceland’s Financial […]
Free market Economists Urge Post-Olympics Social and Political Reforms
For its foreign visitors, the Olympics seemed to be an introduction to all that free market forces have done to China since Opening Up and Reform began following Mao’s death (which was 32 years ago today, btw, and barely paid any attention). What does that mean? It led Thomas Friedman to write that American cities now look third world in comparison […]
NYTimes a Mouthpiece Advocating Disasterous Afghan Narco Policy
This week’s NYTimes Sunday Magazine had a silly/destructive article titled “Is Afghanistan a Narco State?” Quick answer: obviously yes. It was written by Thomas Schweich, a professor at Wash U and a drug warrior extraordinaire who seems to believe that advancing America’s failed drug war policies in Afghanistan is more important than stabilizing that troubled […]
Fuel Subsidy:The Malaysian Option.
Kuala Lumpur:Malaysia:- The Malaysian Government is looking at various options to deal with the ever-rising fuel prices. Everyone knew that our fuel price is supported by huge amount of subsidies. Previously, this seems to be the only reason how we can shield our population from the heat of inflation. However, oil price […]