Is Laffer really to be laughed at!!

Ram Mohan Is Laffer really to be laughed at!!

The Age of Prosperity Is Over - WSJ.com

Source: online.wsj.com

This administration and Congress will be remembered like Herbert Hoover.

Or Hyper Inflation a reality of US's future??

Get Ready for Inflation and Higher Interest Rates - WSJ.com

Source: online.wsj.com

The unprecedented expansion of the money supply could make the '70s look benign.

Another view--

http://www.counterpunch.org/moses04142009.html

Here's the US Federal State Local Debt:

US Federal State Local Debt As Percent Of GDP in United States 1902-2012 - Federal State Local

And now wash clothes without water

And now wash clothes without water, or at least with negligible water

Using nylon beads in laundry: Washing without water | The Economist

Source: www.economist.com

A more environmentally friendly way to do the laundry

The biggest emerging economies are rebounding

The biggest emerging economies are rebounding, even without recovery in the West

BRICs, emerging markets and the world economy: Not just straw men | The Economist

Source: www.economist.com

The biggest emerging economies are rebounding, even without recovery in the West

The diagnosis and the remedy

Wall Street developed a “culture of irresponsibility,” the president said. Lenders didn’t hold on to their loans, but instead sold them off to be repackaged into securities, which in turn were sold to investors who didn’t understand what they were buying. “Meanwhile,” he said, “executive compensation — unmoored from long-term performance or even reality — rewarded recklessness rather than responsibility.”

Op-Ed Columnist - Out of the Shadows - NYTimes.com

Source: www.nytimes.com

President Obama’s plan for financial reform basically punts on the question of how to keep what went wrong from happening again.

That should be in a gist what happened to the US economy!!

And the remedy --
"Unfortunately, the plan as released doesn’t live up to the diagnosis."
PAUL KRUGMAN

The first Open Source design car

The first Open Source design car !! No I'm not joking!

Its makers claim that by starting from scratch to build a small, efficient car they can make it commercially viable more quickly than the major auto manufacturers experimenting with adapting more conventional cars to hydrogen. Honda predicts its FCX Clarity hydrogen car will enter mass production in 2018, but Riversimple is aiming to lease its first fleet in 201

New hydrogen-powered city car takes to the road - tech - 16 June 2009 - New Scientist

Source: www.newscientist.com

The small, light vehicle is powered by a fuel cell that combines hydrogen with oxygen from the air to release energy and nothing more toxic than water.

The car's overall design – although not that of components such as the motors and fuel cell – will be open source. That means it will be freely available for any person or company to use, as long as they make public any modifications to the technology.

Grading the Central Bank

Asked to grade the central bank's job, Roubini gave the Fed a "D" for missing the crisis altogether and downplaying its possible impact, but a "B-plus" after the credit debacle had unfolded.

"I give them credit for being very creative and very aggressive."

"The central bank did the right thing to avoid an outright depression, but is left with emergency lending programs that are clearly not sustainable."

Roubini sees weeds amid green shoots | Industry Summits | Reuters

Source: www.reuters.com

NEW YORK (Reuters) - The U.S. economy will not recover until the end of this year, and even then growth will remain meek and vulnerable to higher interest rates and commodity prices, economist

Derivatives Market - Is it of enormous risk?

Obama called the derivatives market “an entire shadow system of enormous risk” and pledged to make it more transparent.

“Derivatives are a huge potential risk to the system,” he said. “We are going to make sure that they have to register, that they are regulated, that you have clearinghouses.”

Well, I-Banks activities now will be more controlled.

Obama Warns Banks Not to Forget U.S. Was Near ‘Abyss’ (Update2) - Bloomberg.com

Source: www.bloomberg.com

President [bn:PRSN=1] Barack Obama [], warning Wall Street not to forget how it almost caused the financial system to collapse, said “sensible” new rules are needed to tighten oversight and restore confidence in U.S. markets.

More on Status of Dollar

Investment guru Marc Faber says foreigners have lost faith in the dollar and among US bonds, dollar and equities, he would prefer equities.

UTVi: Expert Opinion, Stock Market Expert Columns, Market Expert Interviews, Expert Financial Advice

Source: www.utvi.com

Know more about market with market experts as UTVi.com offers market expert views, expert opinion, stock expert columns, market expert interviews, expert financial advice, stock market expert blogs.

world economy would stagnate as Japan's did in the 1990s..

Nobel Prize-winning economist Paul Krugman caused international shock with a prediction that the world economy would stagnate just as badly, and for just as long, as Japan's did in the 1990s.

Does he mean only the US and Western world, when he says the World!!

Paul Krugman's fear for lost decade | Business | The Observer

Source: www.guardian.co.uk

The Nobel-Prize-winning economist talks to Will Hutton about his anxieties for the future

China's Buying spree

Looks like China has found one more avenue for investment - Stockpiling raw materials. It also seems the recovery in raw material prices is more due to China's buying spree. This may be another bubble.

Some See China’s Buying Spree on Commodities as Short-Lived - NYTimes.com

Source: www.nytimes.com

Shipping and commodity executives are questioning China’s motives as it piles up extra quantities of products.

Status of the Dollar

The dollar’s status as the world economy’s sole reserve currency may deteriorate, said Nouriel Roubini, the New York University economics professor who predicted the financial crisis.

BRIC countries looking for alternate avenues for investment, like IMF Bonds!

@@ For a start, can they think of investing in each others' currencies. "Is it worth the Risk" @@

Dollar’s Reserve Status May Deteriorate, Roubini Says (Update1) - Bloomberg.com

Source: www.bloomberg.com

The dollar’s status as the world economy’s sole reserve currency may deteriorate, said Nouriel Roubini, the New York University economics professor who predicted the financial crisis.

Do you send word docs as email attachments?

Do you send word docs as email attachments? Read this!

It may be better to avoid word docs as attachment unless it is needed by the receiver in that format for further processing.

1. A word doc may look different and print differently when the receiver opens it.
2. It may contains parts which you have already deleted. (Like it happened to google).
3. It is riskier to open a word doc as it can contain macros.

We Can Put an End to Word Attachments - GNU Project - Free Software Foundation (FSF)

Source: www.gnu.org

Don't you just hate receiving Word documents in email messages? Word attachments are annoying, but worse than that, they impede people from switching to free software. Maybe we can stop this practice with a simple collective effort. ...

Asian miracle!

"More bullish on India than on China" Morgan Stanley's Asia Charman

"So China faces a challenge at a time when the India story has come together very nicely and wouldn’t it be ironic when the world is completely embraced the Chinese miracle for the real surprise in Asia has turned out to be India"

More bullish on India than on China: Stephen Roach

Source: www.moneycontrol.com

Morgan Stanley's Asia Chairman Stephen Roach commenting on issues such as economic trends, Asian markets, and the Indian economy, said he saw a cap on economic revival and added that the US consumer demand was still declining. ...

"Pravda warns US is slipping into Marxism"!!

"Pravda warns US is slipping into Marxism".
"Russian Prime Minister Putin, warned Obama and UK’s Blair, not to follow the path to Marxism, it only leads to disaster.”

Surprised to see that Pravda still exists! But I suppose they are surviving on their dirty ads! Could'nt even attach the direct link here. Heard also that many versions of Pravda are there now. Like the torn up USSR.

CNSNews.com - Obama Taking U.S. in ‘Descent into Marxism,’ Soviet-Era Newspaper Commentary Says

Source: www.cnsnews.com

A commentary published in the once-official newspaper of the Soviet Union heralded America’s “descent into Marxism” citing the United States’ takeover of General Motors, poor education ...

‘Slumdog Millionaire’ Stock Fund

Helios Plans India ‘Slumdog Millionaire’ Stock Fund and a 'Jai Ho Fund'.

Hedge funds can better name their funds as Lehman or Goldman Sachs Fund !!

Helios Plans India ‘Slumdog Millionaire’ Stock Fund (Update1) - Bloomberg.com

Source: www.bloomberg.com

Helios Capital Management Pte, the hedge-fund manager once backed by Tudor Investment Corp., plans to start a [bn:URL=http://www.slumdogmillionairemovie.co.uk/] “Slumdog Millionaire” [] fund that will buy underperforming shares of Indian companies.

"Everyone is afraid of the Big bad wolf".

The best thing that rich-world governments can do is to encourage the alternatives by taxing carbon (even knowing that places like China and India will not) and removing subsidies that favour fossil fuels.

"Everyone is afraid of the Big bad wolf".

No hair-shirt option will do!!!

Energy: The future of energy | The Economist

Source: www.economist.com

A fundamental change is coming sooner than you might think

Is wind energy one of the answers? A wind power based plant will need an equal capacity plant as standby for times when wind is not available!!! Think of the capital costs!! Or electrical storage systems have to develop sufficiently to store the extra power.

"India's Economy Grows 5.8%" Wall Street Journal.

"India's Economy Grows 5.8%" Wall Street Journal.

Morgan Stanley economists, in a May 28 note, said there was a "gradual recovery under way" in the Indian economy. Industrial production growth is likely to recover, to reach 8% by March 2010, they said.

Well, NYT, India can manage on its own, Thank you!!

India's Economy Grows 5.8% - WSJ.com

Source: online.wsj.com

India's economic slowdown may have paused, with gross domestic product expanding at a faster clip than expected in the three months to March.

"India Defies Slump, Powered by Growth in Poor Rural States" - WSJ in a report a little earlier.

http://online.wsj.com/article/SB123931787215706747.html

"We want to learn to use a computer mouse, not catch mice."... Read More