| Justice Sachar Committee's gigantic political fraud-I
In December 2006, Dr Manmohan Singh made a pan-Islamic declaration to the effect that Muslims of India - and particularly Muslims only - will have a knock-down priority in the vital matter of charge on scarce Indian national resources taken as a whole. Soon after this lopsided and unwarranted announcement, I wrote in these columns in News Today: 'In my view the Prime Minister's most inglorious statement in our recent history only amounts to outraging the modesty of Mother India just for the sake of hit and run and shit and run electoral gains for the Congress Party through the treacherous quick-sands of Muslim vote-bank politics in the ensuing Uttar Pradesh Assembly elections in 2007 and the Lok Sabha elections in 2009'. I am delighted to note that my initial assessment on the Sachar Committee's dubious and political interpretation of core available data relating to the socio economic status of Muslims in India vis-à-vis the Hindus in majority made in December 2006 has been totally and factually born out by the recent report of the National Sample Survey Organisation (NSSO) which says that it is the Christian Community, not Muslim that is most unemployed.
US Dollar, Equities And Treasury Markets Screen ISM Services For ...
After two disappointing days of economic data, US market participants will now be turning their attention (and hopes for volatility) to Wednesday morning's ISM non-manufacturing report. In its previous reading, the service-sector activity gauge slipped to its lowest level in nearly four years. Officially, the market will be working off of a consensus for a 55.0 print for the March number, versus the lowly 54.3 reading the month before. However, there are questions as to whether this cautiously bullish outlook aligns itself to the conditions for the month or if the indicator will even rouse a response for the market. For expectations, there are a number of concerns that have eroded the validity of the official forecast. From Monday's disappointing manufacturing report, the employment and prices paid components could easily lead to similar results from the equivalent sub-gauges in the service survey.
Kikwete, Mbeki eye economic potentials
Presidents Jakaya Kikwete and Thabo Mbeki of South African yesterday mapped out a strategy to facilitate effective utilization of economic potentials which exist in the two countries.
The two presidents expressed their commitment to resolve existing trade imbalances and critical constraints to investment, trade, infrastructural development and related challenges.
Mbeki and Kikwete co-chaired the Presidential Economic Commission (PEC) meeting that discussed at length several development initiatives including Mtwara Development and Central Development Corridors.
The PEC, attended by ministers and senior government officers from both sides, also charted out mechanisms to enhance development projects in such sectors as maritime transport, minerals, trade, customs, research, technology, tourism, energy, and immigration sectors.
The Problem With, And Slippery Slope Of, Tax Subsidized Economic ...
The Grand Forks Herald's Tu-Uyen Tran has an excellent post about Aurora Medical Park's campaign to get some economic development money out of the city of Grand Forks. The Aurora people are arguing that their new hospital will bring in new jobs and more tax revenue. Tu-Uyen counters that any new development - be it a new Target or a new furniture store or a new set of condominiums - would expand the tax base (and thus tax revenues) so why should the Aurora people be subsidized? From the conclusion of his post: It's possible to argue that keeping people from taking their money to other cities is almost as good as bringing in new dollars. But, as I've mentioned before, that necessarily broadens the list of businesses that qualifies for economic development tax incentives.
Dems claim vote for war budget is anti-war
The Senate on March 29, by a vote of 51-47, passed a bill giving the Pentagon additional funds for the wars in Iraq and Afghanistan. A week earlier, the House, by a vote of 218-212, had passed a similar emergency supplemental appropriations bill for the fiscal year ending Sept. 30. The Senate bill approves an additional $97.5 billion, above the regular Pentagon budget, for the two wars and colonial occupations. It also includes smaller funds for hurricane relief, agricultural aid and other domestic emergencies, adding up to a total of $123 billion. Along with the billions for the war, the Senate bill sets a deadline for beginning the withdrawal of U.S. troops from Iraq—120 days after the bill's passage—and a nonbinding deadline for the cessation of combat operations by March 31, 2008.
'Deep Economy' by Bill McKibben
"Deep economy" is a riff on "deep ecology," a philosophical and scientific perspective that views humankind as but one species in the grand web of life. Ecology, of course, refers to the intricate pattern of relations between living entities and their environment. We most often use the word "economy" to refer to "the structure of economic life," to quote Webster's. But economy derives from the Greek word oikonomia, which translates as "household manager." The archaic definition for economy, therefore, is management of a household. The second definition is "thrifty and efficient use of material resources." The latter is the exact opposite, as Bill McKibben so vividly illustrates, of today's growth-focused global economy.
The fact that we envision the economy as an almost mystical mega-force that dominates every aspect of our existence, rather than something within our control, is one motivating factor for McKibben's masterfully crafted, deeply thoughtful and mind-expanding treatise.
Dollar Slides on China Sanctions
U.S. 10-year Treasury bond prices closed slightly lower on a high-range day today. Consumer spending and a positive business activity report helped to boost confidence in the U.S. economy. Bonds have been trading in a fairly tight range for about a month, and despite the whipsawing, prices closed within normal range today. Housing reports continue to be a major focus for traders, who see the housing sector as a broad economic indicator of U.S. economic health. The dollar fell against the euro and the yen today, after U.S. imposed trade sanctions on China. The protectionist measure caused to the dollar to fall against the major currencies. The yen has been the key focus for currency traders lately, as the ramifications of the yen carry trade are felt during global selloffs, when traders buy back the yen to cover riskier positions.
EAST ASIA SENIOR LEADERS' FORUM INTERVIEW / Ramos: Japan, China, S ...
The following is the fifth installment of a series of interviews with former East Asian leaders by The Yomiuri Shimbun ahead of the East Asia Senior Leaders' Forum in Fukuoka on Saturday. This installment features excerpted comments made in an interview with The Yomiuri Shimbun by Fidel Ramos, who was Philippine president from 1992 to 1998. Ramos was one of the key players in the 1986 People Power revolution that toppled the dictatorial Marcos regime. During his term, Ramos was also instrumental in strengthening the Philippine economy as well as improving its internal security. He is a member of the Association of Southeast Asian Nations Eminent Persons Group. Right after the [ASEAN] summit [held in Cebu, the Philippines, in January], ASEAN as an association reached a higher level.
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