The Seventh Month Roundup

This is the first post in seven months, I never meant to take this big a break from blogger ever, but then can you plan everything? any ways, for now the blog is alive. Since the last write-up in sometime October, there has been some pretty dramatic events that have happened that I used to blog about regularly. More detailed insights will be coming in the later posts that delve into them in detail.

- first, is the spectacular and the gigantic unwinding of the massive securities leveraging that has been built over the years in derivatives market. The net result has been that world financial markets has become one big vacuum that was sucking all real money to cover up losses in betting on notional money markets causing the money supply to dry and lead the world into recession. The visible result is that American corporate landscape has changed, and changed for ever. post-Detroit, post-Big Banks, the shine is off of corporate America.

- second, is the increasing grip of Taliban that is gnawing at the periphery in the neighbouring Pakistan. Add to this the 29-11 outrage, I think the day of reckoning has come for Islamabad. If you have lost control of places within 100 miles of capital (Swat, Buner), then I don't know what else is Pakistani military leadership is waiting for. I mean, can it go more dire, it does not take 100% support to conquer 100% of country. Only 10% can intimidate the rest 90% in submission. Indian Kashmir seems to be pretty much next on the cross hairs.

- thirdly, the Indian election, for not what was elected, but for what was rejected. regionalism is out, so is caste driven, religion driven politics. This election will be the first after 1989-mandal infused environs, where caste based politics was put on the back burner and development has been brought to fore. Equally inspiring is the revival of national parties and break from regionalism. Also the lack of communists can make sure that economic reforms can move forward especially in banking, pension and labour markets.

- lastly, the US election, that brought President Obama to the White House, what matters is not the party, but the style of functioning that he bring to office. The world needs some serious leadership in areas like renewable energy, financial regulation, curbing protectionism barriers, stem cell research, global warming and rising tide of militant Islam. I hope this president brings new approaches to these intricate issues, as we are already starting eight years late.

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