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Took a week off from work to rest, relax and recharge my batteries.  We are already into the 8th month of the year and i had yet to take a single leave this year.  Not to mention haven’t fallen sick for more than 18 odd months and (touch wood), would like that to remain that way for a long long time to come.  It means that i hadn’t been taking any break from work.

Work has been too tough and nerve wracking ever since i moved into the new department more than 5 months ago (ya, time flies), not to mention colleagues who are of no use to the team but somehow manage to survive at work inspite of doing nothing productive. Ya, life is a big bunch of surprises.  The ones who work are questioned when there is a lapse on their end, but some people just laze around at work and unashamedly take the salary at the end of the month and no one even bats an eyelid.

Anyways, over a period of time have steeled myself to ignore such characters and sideline them.  There are others who are enthusiastic about work and they are the ones who really encourage me to look forward to going back to work daily.

But this week off was a much needed one.  Have been doing nothing but having good home cooked food, having my regular post lunch naps, wandering aimlessly around the city, reading books on the couch and most importantly watching the financial markets melt the world over.  Watching this self inflicted wound by the US not only to itself but criminally exporting its problems to the worldwide economies is simply mind boggling to watch.  Not to mention morons like Alan Greenspan openly bragging that this debt ceiling is of no issue to the US as they can print as much dollars they want.  Now beat that.

The funniest part of the whole debt problem is the reaction from China which blasted the US for its uninhibited funding of its consumerism by debt.  But why is China so worried about the debt downgrade of the US from AAA to AA+ by S&P ?  Its because China holds more than a trillion dollars worth of US debt.  The more irony comes from the fact that just a few months ago, some so-called Chinese thinkers were threatening to dump dollars that China is holding in the form of its foreign reserves to show who the boss is.  Which makes one wonder, if China dumps the dollar, which moron in the world wants to buy it?  And if it dumps the dollar and the value of the dollar takes a nosedive further eroding the value of the reserves its holding, who is China threatening in the first place?  Its like cutting the nose to spite the face.  The whole fracas reminds me of the saying that i had posted sometime earlier in this blog….

“If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” – J Paul Getty

China today finds itself between the devil and the deep sea.  On one hand it needs to keep the yuan weaker by buying up all the dollars else the export oriented economy that China has carefully built up over the decades will collapse.  With thousands of riots happening countrywide, the Communist government doesn’t want another disaster on its hands.

And its not easy to make a complete turnaround of the economy from an exporting one to a local consumer led economy.  The transition takes years to happen. So, it keeps buying up dollars to keep its own currency cheaper and with the US dollar collapsing to newer lows, everyone is at their wits end trying to hold things together.

So, what to do now?  Nothing much..if you have money sit tight or start buying into blue chips in small tranches.  For the ones who sold off their equity holdings a few months earlier, i have nothing but admiration for your foresight.  For those who plan to sell during the collapse now, there is nothing more foolish decision than that.

Gold is scaling new heights daily as the US dollar loses its value.  Its gonna be a turbulent few months ahead.  Sit tight, there is much more trouble ahead.  Like the Oracle of Omaha, Warren Buffett once said…

“Its only when the tide goes out that you learn who has been swimming naked”

Pictures courtesy: Now Public, Guardian, wmpoweruser

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Indian armed forces have chalked out a stunning round of combat exercises with foreign forces over the coming several months to use “defence diplomacy” as a tool to bolster national security as well as promote strategic cooperation.

Defence ministry officials say the 1.13-million Army alone has planned 14 to 18 exercises with countries ranging from the US, UK and Russia to Bangladesh, Mongolia, Thailand and Tajiskistan, both at home and abroad.

For instance, the armies of Seychelles and Singapore will be in Belgaum and Deolali in January for joint combat exercises . Similar is the case with Navy and IAF. Indian warships will hold combat manoeuvres with French warships, including nuclear-powered aircraft carrier Charles de Gaulle, during the “Varuna” wargames on the high seas in January . “Indian and French navies and air forces have build a high-level of interoperability through such exercises… We have a strategic partnership ,” said visiting French chief of defence staff Admiral Edouard Guillaud.

The US, of course, is leading the charge in this “interoperability” game, with Indian and American armed forces holding a staggering 60 or so wargames over the last decade.

Many more are in the offing. After the ‘Malabar’ naval wargames on the western coast, the “Habu Nag” amphibious exercise at Okinawa (Japan) and the “Vajra Prahar” counterterrorism drills at Belgaum earlier in the year, around 200 Indian soldiers are now leaving for Alaska to take part in the “Balance Iroquois” exercise with American special forces.

Despite defence minister A K Antony always being eager to downplay the expansive Indo-US defence relationship, the armed forces of the two nations have set a scorching pace in their bilateral engagement . Of the 64 exercises conducted by the Army between 2001 and 2009, well over one-third were with the US.

“The US is the only superpower around… We learn a lot from exercising with them. With the vast counter-insurgency experience of our professional forces, we also teach them a lot,” said a senior officer.

Above news source: TimesofIndia

Pictures courtesy: Military photos, Getty

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We can choose our friends, but not our neighbours.  This statement was famously made by our previous Prime Minister, AB Vajpayee. How true.  Given a chance we would like to pack Pakistan and dump them into the sea for being such a pest.  Why not?  Afterall, a country which has terrorism as its national policy against its neighbours, a country that drills hatred into its citizens brains 24×7, a country that doesnt mind soiling the plate that hold its food, Pakistan is nothing but a big pain in the butt for the world community now.

After the leak of more than 90,000 secret documents on the Wikileaks website, more and more sordid exposure of the Pakistani leadership are coming to light.  It was always known that the rogue intelligence agency of Pakistan, the ISI, was hand in glove with Al Qaeda in Afghanistan and Lashkar-e-Toiba and many other terrorist organisations fomenting teror in India.

But what takes the cake is the ignorant America feeding the Paki army so that it can fund the terrorists which in turn stab the American and other NATO troops currently in Afghanistan in the back.  The same money that the Americans provided the Pakistani government is now being fed by the ISI and Pakistani Army back to the Al Qaeda backed terrorists who are in turn killing the American soldiers.

I wonder how the American citizens are tolerating their government feeding the same scums who are killing their soldiers. Any civilized government would have re-looked at the horrors of the backstabbing that Pakistan has been doing to their soldiers…but not the US government.  The game of strategic reach that the US likes to play so much has stretched its resources so badly that the US economy is on the verge of a collapse.  Still, it refuses to learn from its mistakes.

Inspite of the evidence put forth by the intelligence, that the biggest snake in the hole is nothing but the Pakistani Army/ISI, the Americans seem to have no qualms sharing the same bed with them.  Pakistan has mastered the art of holding a gun to its own head and threatening to kill itself.  Its time the Americans call their bluff.

If the Americans want to withdraw from Afghanistan in 3-4 years as they predict, its best for them to rein in the Pakistani Army/ISI and strengthen the Afghan govt’s hands in developing a strong defence against not only the local insurgents but also the Army/ISI.

As for India, the best thing for it to happen would be the breakup of Pakistan.  I have always believed that a strong and economically stable Pakistan is a bigger headache for India than one which is broken up into pieces.  I love Manmohan Singh and really appreciate the hard work he is putting in trying to find a peaceful solution with Pakistan.  But he doesnt realise that he is barking up the wrong tree and that Pakistan is like the dog whose tail will always be curled.  No matter what we cant straighten it.  Its not a civilized society and probably we need to wall off the borders between the two countries and cut all strategic, business and people to people ties.

According to Canada’s former ambassador to Afghanistan, Chris Alexander…

Gen. Kayani is saying he wants to call the shots in Kabul. To do so, he is prepared to support the principal outfit launching suicide attacks in Afghanistan’s cities. He is backing the Islamic Emirate’s effort to wreck an Afghan-led nation-building process.

The Pakistan army under Gen. Kayani is sponsoring a large-scale, covert guerrilla war through Afghan proxies – whose strongholds in Baluchistan and Waziristan are flourishing. Their mission in Afghanistan is to keep Pashtun nationalism down, India out and Mr. Karzai weak.

It has nothing to do with Islam, whose principles they trample; indeed, the flower of Afghanistan’s ulema (religious leaders) have been among their victims. Gen. Kayani and others will deny complicity. But as the WikiLeaks material demonstrates, their heavy-handed involvement is now obvious at all levels.

To understand the context of this fraught relationship, read a report called The Sun and the Sky: The Relationship of Pakistan’s ISI to Afghan Insurgents, by Matt Waldman, a former Oxfam policy adviser now at Harvard. It is a chilling tale. When the scale of this complicity is fully exposed, it will rank high on the list of modern scandals.

The USA seems to have no qualms cutting off all funding to Iran, North Korea and any other country that doesnt toe its line.  But when it comes to Pakistan, it strangely behaves like an Ostrich who buries its face in the sand.

Tunku Varadarajan hits the nail on the head when he says…

We are now at a crossroads with Pakistan, a point at which we need to pull out old words from the Bush playbook. It is time to state to them—to state, in particular, to Gen. Ashfaq Parvez Kiyani, the Pakistan army’s chief of staff—that Pakistan is either with us, or against us. There can be no caveats, no exit clauses, no fine print, no weasely handwringing about Pakistan’s need to retain “strategic balance” in Afghanistan.

Some more articles on the leaked documents

On WikiLeaks, Pakistan and Afghanistan; the tip of an old iceberg

Above pictures courtesy: Pakistanisforpeace & omjiyadav

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Finally, i finished reading this book.  Have been reading it on and off for the past 6 odd months.  In the meanwhile have finished reading a few others too.  Odd, because the book is a very good read and written with lots of historical references.  For someone who loves to know the Roman, Greek, French, British and American history, this book is a treasure trove.

The authors of this book are Bill Bonner & Addison Wiggin who have been writing the free daily newsletter, The Daily Reckoning for more than 10 years now. The newsletter covers a lot about the daily economy, world politics, investment strategies, gold, stock market etc.  Bonner is also the founder and president of Agora Publishing.

The authors believe that the America of today has left the values of its founding fathers far behind and has become an imperial power instead of being a country.  Bonner also believes that the end of America is also coming soon.  The author talks about the dollar crisis, the coming end of the US economy. He writes about how successive US governments have gone to war and wasted all resources, the decoupling of the dollar to the gold standard, the federal reserve under Alan Greenspan with his inflationary policies totally wrecked the US economy.

Quoting from Amazon,

Bonner and Wiggin view ancient Rome as the classical model of empire. Running an empire was an expensive business; the folks in the homeland needed to be mollified with government handouts (bread and circuses), while a large military had to be maintained in the frontier. Rome used its military power to exact tribute from neighboring states; it was a protection racket, no different from the Mafia. Nevertheless, this scheme generally kept the central state solvent and the territories at peace. The United States is also an empire, Bonner and Wiggin maintain, but it does not follow the classical model. It placates its citizens with massive distributions of government largess while using its powerful military to exert influence and keep peace abroad. However, “[i]nstead of getting paid for providing protection, the United States is on the receiving end of loans from its tributary states and trading partners ” (p. 77). This is how the United States became the Empire of Debt.

Empire of Debt: The Rise of an Epic Financial Crisis
Authors – Bill Bonner & Addison Wiggin
Pages – 384
Publisher – Wiley

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Almost a year ago, i wrote a post, End of the American dream? The bad news continues. With the Obama administration tightening the screws against the immigrants and the financial collapse of the American economy, it seems the jobs are drying up and so is the much needed funding for the education system.

“There is a drop both in the number and the quality of Ph.D. applications, more noticeably in the last two years.” says Anand Sivasubramaniam, professor of computer science and engineering, Pennsylvania State University (Penn State). “This year, of the more than 700 applications we received from prospective graduate students worldwide, the number of applications from top Indian institutes such as the IITs and IISc was in the single digit. Less than three years ago, this number was in the double digits,” he says. An article this February in The Chronicle of Higher Education reported a 50 percent decline in the number of new Indian graduate students this Autumn at the University of Georgia. The computer science department at California State University (Long Beach) saw a spate of prospective master’s students from India abandoning their application process midway.

“It’s the beginning of a trend, an indicator that something is happening and that Indian students are not coming here like they did in the past,” laments Dr. Nathan Bell, director of research at the Council.
You don’t have to look far to find the reasons for this. With the US economy in a shambles, there are severe budget cuts at state-funded universities. The prospects of obtaining a full waiver of tuition fees are slim. Dwindling grant money also means that local students stand a better chance of getting a research fellowship than foreign students. So, many Indian students end up working for free. Last semester, Atulya Prasad, a master’s and Ph.D. candidate in biomedical engineering at New York’s Stony Brook University, worked as a research assistant sans the stipend.

The situation doesn’t improve upon graduation. The growing political backlash against the loss of American jobs, and the rising anti-immigrant sentiment means that getting a work visa — let alone getting a job — is as tough as it can get. So much so that now, even the lure of a US-located son-in-law is starting to fade. “The classic America-educated son-in-law syndrome is almost nonexistent as students, especially from tier 2 schools, hardly get jobs in the US after they graduate,” says Satyavrata Samavedi, a Ph.D. candidate in tissue engineering at the Virginia Institute of Technology (Virginia Tech).

Full article here

Above picture courtesy: Associated Content

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