Sunday, June 22, 2008

how clueless can the finance minister of india be?
how idealess can the harvard educated high flying corporate darling be?
how visionless can the man from a prestigious chettinad family be?

as clueless as his idea of 'price band mechanism' idea. so our dear finance minister wants consuming countries (especially the oil guzzling countries like america and oil-subsidiy-for-the-rich countries like china and indai) to 'guarantee' a price range so that oil producing countries can supply at the same price.

vowww...the only finance minster in the world to propose socialism for oil trading!!!!

and the finance minster goes further to slam the speculators saying they are responsible for the huge price increase and he further goes into idealess territory as he mentions the demand for oil has not increased in last 12 months. does he not know that,

a. supply is so tight that demand outstrips supply on a daily basis by 1 to 2 million barrel
b. continuous disruptions in nigeria is adding to the misery
c. iraq just came to pre-invasion level in oil production
d. in spite of saudi's i-will-supply-2 million barrels-more-daily shouting, not even 10% of that 2 million extra has been pumped
e. huge subsidy in india and china making new car owners care a damn about gas sipping cars and on top of that without any policy at all to wean away from oil dependency.

compare this to britan's prime minister and american energy secretary both of whom pointed out correctly the supply side rather than the oft repeated speculative side.

but underneath of all the talk of our finance minister lies the brutal tragedy that inflation has gone to double digits!!! and this finance minster has ignored controlling inflation big time and his fiscal policies has been promoting fake development projects that make the wealthy more wealthy and the poor and middle class more poorer and this finance minister's own cabinet has been ruthlessly pushing policies such as SEZ's, ignoring lakhs of farmer suicides, the list is endless...

now our finance minister, like our prime minister who hides under the india america nuclear deal whenever he wants to divert attention, has the oil bogey man to complain.

i can tell this strongly. nobody can beat india's politician who can bluff their way on a daily basis throughout their political career. whether you are an educated politician or a local dada who became a big time politician, this bluffing keeps on coming on a daily basis.


At 4:09 PM , Anonymous Anonymous said...

the oil crisis is global and i think it is simply wrong to point fingers at the finance minister or the prime minister..did u write a blog praisng them when they delivered 9% growth for last five years...if u think our finance minister is a typical indian bluff then u r a typical whining indian citizen pointing fingers at the govt....i suggest u to sit in office n let me see what u do...for all i know u have no idea about the oil situation...india consumes 2 million barrels a day while US consumes 28 million per day....n inflation is entirely because of oil and entire world is wondering wat to do..if u have to blame someone blame the oil consumers in the west not india because that is the fact...

At 9:31 AM , Anonymous Anonymous said...

correction - the consumption is in u can imagine how much the US consumes today...

At 9:47 PM , Anonymous green_thoughts said...

i think you got it wrong. oil shot from 100 to 138 just 1 month back but inflation was raising from 3 to 8% even before that.

our 9% growth comes to benefit only a tiny section of india. farmers, rural people, tribals - all are thrashed by this govt policies.

please read lot of blog postings in this blog and you can see several cases.

At 2:39 AM , Anonymous Anonymous said...

I think nobody knows the statistic correctly.All numbers released by fabricated.Our finance minister is the worst finance minister india has ever seen.He is so adament that whatever you talk he never admits afterall he is an advocate.He is the most lukiest person that one party one member one MP & he is driving the entire nation on wrong path.If inflation is high he blames oil but never explains why only oil.If someone talks about participatory notes detail,he ask the person what the hail you know about participatory note.He feels that he is the only intelligent person on this planet but fact is otherway round.Our country's true position will come out after one year.He is saying that corporate tax collection is up by 71% during April & may it means that growth should be more than 10%.The fact is he has asked all the PSU's to pay maximum advance tax in this period & lateron don't pay.


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