Perspectives on the global economic meltdown- (Nov 28 2010)

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panduranghari
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by panduranghari »

Theo_Fidel wrote:USA==Zimbabwe :roll:
What next.....
Onlee 1 word for you.


Hubris.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by panduranghari »

KrishnaK wrote:Acharya,
The takleef is that these Indians should put their money to better use by investing it in infrastructure. At least the government should make it a viable option.

Why? Why should the government do what you want? Why should the common man invest in infrastructure? Why should government make it a viable option? Why should a common man be forced to do what you suggest?

The government forces me and you to pay taxes. If they cannot manage within their income then they should stop collecting taxes.

A common man does not wish the thieving government to trick them into buying bonds? What are bonds anyway? Paper promises of more to come? Or a cast iron guarantee of more to come.

Think from the point of view of a person who has not enough saving and has plans to put his kids through school and perhaps wants to buy or build a house. that person cares nothing for bonds because he or she doesnot understand the price movements. He has no time and definitely no money to waste to pay management fees.

He can certainly see the logic of gold. He will buy a nice gold earring for his wife. Wife is happy that she is wearing gold and hubby bought her a gift. The man knows this gold is useful to have on the body than in a safe as if he needs to move she has wear it and not worry about carrying more. If there is a flood or earthquake, the gold earring (unless removed) will be still on person and can be deployed at the time of need.

Takleef?

What is that?
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by panduranghari »

JwalaMukhi wrote:
The biggest takleef is some want to define what is good for the many. Some people have idea that money and wealth should be spent/directed in an 'effective way' that they deem it to be correct. Those who advocate such position principally hate the notion of 'freedom of the individuals' to do what they like with their moneys.

People investing in Gold in India are in effect declaring independence from the so called 'corporations' and 'predatory government out to seek rent' who think they can organize the lives of people into fruitful occasion for 'consumption'(corporations) or 'enhance the quality of life' (by govts), through the mechanisms they think it is fit.

People should have the freedom to either direct their monies towards 'phillip morris corporartions' in the name of progress and development or invest in building a piss pot made out of gold.

Extraneous and irrelevant arguments about gold being used as dowry or to make piss pots should be none of anybody's concern, except the individual.

What one man's thinks is wastage can easily be other man's best investment.
In short, there should be full freedom to either be an Amish, a luddite or even a person who accumulates gold to just look at them for his/her fancy. Do not deride freedom, it should be prerogative of the individual.
You said it better than I could have.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by KrishnaK »

Theo_Fidel wrote:
KrishnaK wrote:Do you or do you not agree that people who earned the money have a right to decide what to do with it without some "wise man" at the top directing them on how they may use their hard earned money.
Don't disagree with the other stuff but...
Well that is the entire argument isn't it.

Lehmann declaring $ Billion bonuses to execs as they were circling the drain, Wall street bonus of $35 Billion in 2007 just before their corrupt malfeasance destroyed the savings of millions. Then asking the same millions for $700 Billion in money or they would fire everyone, and then going ahead and firing everyone anyway just in case.

So what 'earning' are we talking about.

No the rich at the top have so much because the folks in the middle and bottom create so much for them to take. They should not forget it...
Theo,
Please re-read my post. I had forgotten a quote. It will make more sense now.
Theo_Fidel

Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Theo_Fidel »

OK. Edited mine as well.
I am surprised Neshant would write that though...
-------------------------

TSJ,

It is interesting you call such folks oligarchs.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by svinayak »

Hiatus on the way to Asian century

Professor Mahbubani of Singapore cites dependence on the dollar as one factor holding back Asia’s progress toward greater economic self-sufficiency. Sluggish institutional reform in governance of bodies such as the International Monetary Fund and the World Bank is preventing Asia from playing a role on the world stage commensurate with underlying shifts in economic performance, he says.

“This huge and growing gap will lead to progressive delegitimization of the IMF and World Bank. Developing countries will seek closer financial cooperation with rising new powers, such as China and India. Proposals like a BRICS bank will take some time to be realized, but political support will grow if the IMF and World Bank remain mired in the past.”

A further contradiction, Mahbubani says, is between the rising market integration of the Asian economies and the slow institutional integration of Asian countries. “In some ways, it was wise for Asians to take the opposite approach from the Europeans, where institutional integration facilitated trade integration. In Asia, trade integration is leading to pressures for institutional integration, but traditional Asian caution is hindering steady institutional integration.”

The Asian economy meanwhile is sending out mixed signals, but these seem to indicate fluctuating month-to-month fortunes rather than underlying strength.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by TSJones »

Theo_Fidel wrote:OK. Edited mine as well.
I am surprised Neshant would write that though...
-------------------------

TSJ,

It is interesting you call such folks oligarchs.
Perhaps not the best choice of words. Plutocrat is probably better......or criminal scum.....or what would be even better is convicted felon and no longer able to hold a security brokerage licence although the lack of a licence didn't stop Bernie Madoff :eek: ....where was the SEC or the state of NY financial investigators? One can only wonder............
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by TSJones »

.....history shows gold could drop another $500....

http://finance.yahoo.com/news/history-s ... 53573.html
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by svinayak »

Gold is your Hedge
Author : David Schectman
Published: July 2nd, 2013
http://blog.milesfranklin.com/gold-is-your-hedge

Notice that John Williams says, “Gold Remains the Most-Solid Hedge Against Looming Dollar and Inflation Crises,” and, “Central Banks Dumping U.S. Treasuries at Fastest Pace Since 2011 Budget Crisis.” Boy that sure cuts directly to the heart of the issue. The only way for the Fed to support the bond market is to continue QE. The mere mention by Bernanke that the Fed was “considering” easing slowly in the future caused pandemonium in the global markets. QE is with us “to infinity.” If you believe that we are facing a “Looming Dollar and Inflation Crisis.” This will be the result of a falling dollar, which is the result of continuing our policy of QE, then your “Most-Solid Hedge” is GOLD. He isn’t discussing “price,” or “timing.” He is stating that we all NEED GOLD.

But if you aren’t worried about a “Looming Dollar and Inflation Crisis,” then you don’t need gold regardless of the price. It’s that simple. If you are not concerned that endless QE and that “Central Banks Dumping U.S. Treasuries at Fastest Pace Since 2012,” then you don’t need gold regardless of the price.

If you are not very concerned that the Fed is buying up most of the U.S. Treasuries, you should be. That amounts to the purest form of Monetization.” If you don’t know what the word means, check it out on Google. How bad is it?

Fed Has Monetized 85.7% of Net Issuance of Gross Federal Debt Issuance with QE3. Separately, the Federal Reserve’s own holdings of Treasury securities increased by $9.7 billion in the week ended June 26th. That brought the total Fed holdings of Treasury securities to $1.928 trillion, where the net increase under QE3 of $268.3 billion accounts for 85.7% of the Treasury’s net issuance of gross federal debt coincident with expanded QE3, which began early in 2013.


Your interest in gold should be based on these facts and not on timing a market bottom, or trading gold for profit. Gold is your “Hedge,” your insurance policy, not your trading vehicle.

Williams opens his most recent commentary as follows:

Gold and Silver Selling Has Not Been Fundamental. Central banks were dumping U.S. Treasuries last week at a record pace (see Central-Bank Bond Selling section), yet, contrary to cash moving into gold, which commonly is seen in such circumstances, the rout in gold prices continued. Equity, credit and currency markets also have been unstable, but not of the magnitude seen with the precious metals. Global sentiments are shifting; something is afoot, and it likely is not good news for the broad financial system and markets. Whatever is unfolding could involve liquidity issues within certain markets, corporations, financial institutions and/or countries. It also could involve central bank efforts to pummel the precious metals. There already has been extensive jawboning aimed at pushing gold and silver prices much lower.

What has not happened here is a negative shift in the basic fundamentals that pushed gold and silver prices higher in recent years. There have been some misperceptions that briefly held sway over the markets, such as recent hype of imminent Fed tightening or “tapering” (see Commentary No. 535 and Commentary No. 536, in particular). These issues have been discussed broadly in numerous recent missives, particularly No. 527: Special Commentary and also Commentary No. 516 and Commentary No. 517, included here by reference. Once whatever underlies the current systemic turmoil breaks to the surface, look for the fundamentals supporting gold prices to regain dominance in the factors driving the market for the monetary precious metals.

In particular, the longer-range solvency issues of the United States, including the budget deficit and the debt ceiling, are likely to come to ahead in early September. As the economy slows anew, talk of the Fed reversing QE3 should shift to anticipating increased accommodation.



Gold Versus Silver Graph

If the recent selling in gold and silver, as seen in the preceding graph, were fundamental, those same fundamentals should be driving parallel sell-offs in oil and the Swiss franc. As seen in next two graphs, that is not happening.

Irrespective of the sharp decline in the price of gold, physical gold—held for the long term—remains the primary hedge against the U.S. dollar debasement ahead. Yet, it has to be in place, and it has to be held through the developing crises—irrespective of short-term market volatility—in order to provide the desired asset protection. Whether gold is purchased at $250, $2,500 or $25,000 per ounce, it preserves the purchasing power of the dollars invested. Someone looking to take profits at $100,000 an ounce is missing what has happened. Those “profits” are just the preserved purchasing power of the invested dollars. Another way of assessing that is to consider the implied proportionate amount of dollar purchasing power lost with those dollars that were not invested in the hard assets

-ShadowStats.com (see Commentary No. 516, Hyperinflation 2012)



I have often suggested that all of our readers should subscribe to Shadowstats. It’s not just me – Jim Sinclair also urges his legions to subscribe to Shadowstats. Williams’ information is not only interesting, it is vital. Vital for your financial survival in the hyperinflation that he expects to descend upon us by 2014.

This still-forming great financial tempest has cleared the horizon; its impact on the United States and those living in a dollar-based world will dominate and overtake the continuing economic and systemic-solvency crises of the last eight years. The issues that never were resolved in the 2008 panic and its aftermath are about to be exacerbated. Based on the precedents established in 2008, likely reactions from the government and the Fed would be to throw increasingly worthless money at the intensifying crises. Attempts to save the system all have inflationary implications. A domestic hyperinflationary environment should evolve from something akin to these crises before the end of next year (2014).

Williams finished his article with the following quote of gold:

The rise in the price of gold in recent years was fundamental. The intermittent panicked selling of gold has not been. With the underlying fundamentals of ongoing dollar-debasement in place, the upside potential for gold, in dollar terms, is limited only by its inverse relationship to the purchasing power of the U.S. dollar (eventually headed effectively to zero).
Again, physical gold—held for the longer term—remains as a store of wealth, the primary hedge against the loss of U.S. dollar purchasing power.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by svinayak »

http://silveristhenew.com/category/inflation/
Japanese Consumers To Become Net Buyers Of Gold Again After 8 Years
Posted by silveristhenew on July 15, 2013 No comments
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

While the largest gold ETF in the Western hemisphere is unloading physical gold, the land of the rising sun is doing the opposite. The biggest ETF in Japan has accumulated 10% of its physical holding this year. Bloombergwrites that “Japanese consumers are poised to become net buyers of gold for the first time in eight years as the yen’s decline and looming inflation drive them to seek refuge in bullion, Bruce Ikemizu, the head of commodities trading in Tokyo at Standard Bank Plc.”

Weakness in the yen driven by a huge monetary government stimulus, incited Japanese people to hedge against inflation. “Bullion is sought here as a hedge against inflation and a rout in financial markets,” Osamu Hoshi said in an interview. He is the general manager at Mitsubishi UFJ Trust and Banking Corp., which introduced the nation’s first gold-backed ETF three years ago. Bloomberg reports that the trading value in Mitsubishi UFJ Trust’s gold ETF on the Tokyo Stock Exchange amounted to 7.23 billion yen in May. It has become the most-traded commodity fund listed in Japan.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by svinayak »

http://gonzalolira.blogspot.com/2013/07 ... nless.html

Gold is a Crap Investment—Unless...
About gold as an investment, Barry Ritholz said it best:

This is not to say gold is not affected by Macro issues. But that is very different than saying Gld has a fundamental value, an intrinsic worth. It does not. [. . .] Gold is not, and can never be, an investment. It has no true intrinsic value, no cash flow, no earnings, no coupon[,] no yield. What people call fundamentals are nothing more than broad macro analysis (and how have your macro funds done lately?). Gold is the ultimate greater fool trade, with many of its owners part of a collective belief theory rife with cognitive errors and bias. [bold emphasis in the original]
Ritholz is absolutely right: Gold does not have cash flow, earnings, coupons, or yields. Unlike, say, a factory, or a piece of land, gold cannot produce anything; gold just sits there, inert. Though it has a handful of industrial applications, and of course can be used for decoration, gold has no practical use. You can’t eat gold. You get caught in the middle of the Sahara with a ton of gold and not a drop of water? You’ll be the richest corpse in no time.

So just like Ritholz says, gold is not an investment—unless.

Unless what? Unless the fiat currency itself becomes worthless.


It is this possibility—that the novel, experimental and reckless measures being taken by the central banks of the major reserve currencies might well end up debasing the dollar, the euro and the yen to the point where they are as worthless as Weimar-era Deutsche marks—that makes mincemeat out of Ritholz’s perfectly sensible analysis.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Neshant »

TSJones wrote: Trust me, shares of stock are capital.
Even if you do consider that capital, shares of stock represent a promise of repayment from future profits aka savings. Someone has to under-consume the profits of the company in order to pay off that promissory note.

The stock would be worthless if there was no hope of ever making good on promises of future value.

Enron type companies issuing stock paper on the basis of hot air don't last long.

That being said, we are at an absurd point in history where debt is being called capital and the word capital is being used interchangeably with debt. In the absurd days of 2007, you could get a mortgage on a house and even without having paid anything get additional loans on the basis of that mortgage debt. Basically debt was being traded for debt.

This is all going to unravel in a most disastrous way - although I must admit I don't know how.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Neshant »

KrishnaK wrote: If cloud computing was hype, a major chunk of internet traffic wouldn't be served from it.
Cloud computing is nothing more than the client-server paradime that existed since the 70s.

The marketing departments of network companies came up with a new fancy term to describe the same old.

Yes. Nobody's forcing anybody to do otherwise.
You obviously don't know much about the monetary system - who controls its issuance and value thereof.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Austin »

Cloud Computing is just a jargon where Companies Reinvent the old thing in a new Avatar by giving new names to it , If it succeeds then Cloud is a success else next year they will get a new jargon for the same stuff.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Austin »

As far as debt goes came across this Official US Budget Link

The Obama 2013 Budget: A Summary And Analysis

Image

Note the Gross Debt it says $26 Trillion by 2021 period ... Is that the real deal ?
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by panduranghari »

Acharya ji,

If gold price reaches 20000£/oz will you still sell your gold?

At 20000£/oz, the world economy would be a lot different than what we can imagine. Chasing a price target is really a wasteful errand. Would you agree?
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Manish_Sharma »

Acharya ji please clarify somethings for me:

1.) Is gold and silver going to rise because of their own value?

2.) Or because of Feds/US/treasurery etc's house falling like pack of cards & dollar becoming so weak that the price of gold and silver will rise due to dollar's weakness?

3.) Is this gold and silver price going to grow in Bharat also in same proportion as US?
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by panduranghari »

Manish_Sharma wrote:
Acharya ji please clarify somethings for me:

1.) Is gold and silver going to rise because of their own value?

2.) Or because of Feds/US/treasurery etc's house falling like pack of cards & dollar becoming so weak that the price of gold and silver will rise due to dollar's weakness?

3.) Is this gold and silver price going to grow in Bharat also in same proportion as US?

Manish ji,
I would like to answer this. Acharya ji will correct me or perhaps answer on his own accord.

I request you to read these 2 posts

http://fofoa.blogspot.co.uk/2010/12/value-of-gold.html

http://fofoa.blogspot.co.uk/2010/06/how ... uture.html

They will answer your questions and corollaries arising out of the questions.
Theo_Fidel

Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Theo_Fidel »

Austin wrote:Cloud Computing is just a jargon where Companies Reinvent the old thing in a new Avatar by giving new names to it , If it succeeds then Cloud is a success else next year they will get a new jargon for the same stuff.
Yes, and the internets is just a different mail system, maybe even a bunch of tubes. New jargon and all.

Saar, if you havn't experienced the ease and simplicity and convenience of the cloud computing what can one say....

This is classic Indian failure to innovate attitude problem. No new idea comes from this great land mass, except buy more gold....
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by svinayak »

Theo_Fidel wrote: This is classic Indian failure to innovate attitude problem. No new idea comes from this great land mass, except buy more gold....
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Austin »

We do use cloud computing and yes it makes life simplier in terms of managing the infra and the ease at which one can allocate and deallocate resource and scaling it up all that is good but the concept is nothing new and there is a good amount of marketing hype beyond it as well. We will see how it evolves.


BTW is that true that US would Gross Debt will increase to $26 trillion by 2021 and beyond as that graphics indicate or is it something else ?
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by panduranghari »

Acharya wrote:
Theo_Fidel wrote: This is classic Indian failure to innovate attitude problem. No new idea comes from this great land mass, except buy more gold....
Quoted once and re quoted twice for Posterity. Bravo!!
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Uttam »

Theo_Fidel wrote: This is classic Indian failure to innovate attitude problem. No new idea comes from this great land mass, except buy more gold....
I respectfully disagree. Look at the recent high demand for gold. What preceded it? High inflation. I agree some of it is pure preference. However, people also realize what happens when the central government open the spigot of cash. The value of Rupee declines. The gold demand goes up everywhere in the world when there is inflation expectation. Indian demand is rather small factor in gold price. The recent run-up (last 3 years) was driving by inflation expectations around the world. The gold demand in India also show that people really trust the current government to mess up the economy and they want to protect themselves using gold.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Christopher Sidor »

panduranghari wrote:
Theo_Fidel wrote: This is classic Indian failure to innovate attitude problem. No new idea comes from this great land mass, except buy more gold....
Quoted once and re quoted twice for Posterity. Bravo!!
Totally Agree with you. But I do comprehend why Indians have this undying love for gold. Faced with a capricious government, of UPA-2 likes, they seek safety of their capital which can only be given by gold and to a certain degree by real estate. Even though both are bad for the country.

Recall, recently, how our FM pleaded with us not to buy any more gold? Well the same FM did not think or introspect even once on why Indians buy this metal. Our PM can sit and bulldoze through the decision to raise FDI to 100% in certain sectors but for more than 6 years he could not guarantee at least 20-22 hours of uninterrupted power. The worlds biggest rolling power cut which left some 600 million out of power happened in the so called "most attractive" market of the world.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by vishvak »

Nothing more came out of Europe other than marauding hoards passing themselves as innocent bystandars sucked into bloodthirsty wars, blanket genocides, loot of others civilizations, intercontinental slave trades & support of terrorists, world wars, scams collateral damage, barbaric colonial times & sole claim on religion/god/heaven, monopolies to blackmail countries, and so on and on.
Theo_Fidel

Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Theo_Fidel »

-
Last edited by Theo_Fidel on 17 Jul 2013 02:39, edited 1 time in total.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Suraj »

Austin wrote:Russia breaks into top 5 world economies, displacing Germany India Ranks 3rd on PPP basis 8)
It's great to see the positive responses by Russians to this article. Ditto for when there was an article about China exceeding US in PPP GDP in a few years - both received positive comments. But when there was a discussion here recently on India being the 3rd biggest economy by PPP GDP, there was a bunch of folks jumping up and shouting that we're ranked lower on absolute dollar terms, PPP doesn't matter, etc etc :roll:
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by TSJones »

Suraj wrote:
Austin wrote:Russia breaks into top 5 world economies, displacing Germany India Ranks 3rd on PPP basis 8)
It's great to see the positive responses by Russians to this article. Ditto for when there was an article about China exceeding US in PPP GDP in a few years - both received positive comments. But when there was a discussion here recently on India being the 3rd biggest economy by PPP GDP, there was a bunch of folks jumping up and shouting that we're ranked lower on absolute dollar terms, PPP doesn't matter, etc etc :roll:
They want India to be on top, so it's kinda natural human reaction isn't it?

I don't like it when plutocrats are above the law in my nation and it makes me ill when I hear words like "the greatest democracy on earth" etc. It's just mindless boosterism. I realize things will never be perfect but why have these laws if we never enforce them on CEOs, etc.
It gets to ya after a while.

I would say that Indians have a perception problem here in American concerning the true economic situation of India. Most people here think of poverty when India is mentioned in the news. I try to explain tha India has a huge and growing middle class and that while yes,there is a lot of poverty in India, there is also progress and that has to be respected. ....just my thoughts
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by RoyG »

Theo_Fidel wrote:(start rant)
For gods sake folks..
The world economy is so massive today that a better shoe lace will be $ Billion type business. This is reality. A 2% better way to do computing will destroy companies that don’t have access to this advantage. If cloud computing is so simple whyfor did it not come out of India, huh! Because of the stick in the muds, fencing sitting, jackass, hyena gas bags who ridicule every Indian who has innovated even a little bit through history. Who knows what will be the next innovation, not you or not me, but you should have a couple of hundred or thousand innovations going on and see what takes off. For this you have to be open to new ideas and willing to put it to work for you. For every 10 ideas you try out maybe only 1 works. That is a pretty good strike rate IMO. Cloud computing improves my productivity by about 5%. In this hyper competitive economy this is a killer app for me. What is so hard to understand about this. Client calls me at 345pm and asks for a change. Previously it would take me till the next day to get modeling data back to him. Now I can get it to him be 430pm same day. He is thrilled. Who do you think gets hired next time.

When I began in India everything was done on a sheet of paper with paper and pencil. An engineer dutifully used a slide rule to calculate all the stresses, and the we would multiply by a factor of 5 and select a section out of the 1901 Bethlehem steel catalog. I still remember the day the first scientific calculator showed up, folks pooh poohed it as just another hype, threw it into the drawer and went back to the past. Recently I visited a most prestigious engineering company in India, and discovered that the technology they used has not changed in 40 years! For instance I have commented many times here that the technology being used for the Metro viaducts is quite old and I suspected that the structures were roughly 200% more massive than required for whatever reason. Every time you see the foot path crumble, the road fall apart and the water pipe burst in India, it due to this attitude.

Every time the streets flood, building crumbles, it is due to this same lack of attention to detail and accepting new ideas that are used around the world. For instance our survey and civil engineering capability is 40 years behind everyone else and so our streets flood at the first sprinkling and our roads are built atrociously. Also for instance I have pointed out that from our coal production and generation there should not be any power shortage in India. The problem is we burn our coal horribly inefficiently, we don’t transmit it using the latest technology, we use terribly engineered products and wonder why our electricity runs out. Everyone is waiting for a friggin miracle bullet to solve everything when the truth is tiny little incremental changes and improvements are what built the first world.

Focus on the little $hitty improvements folks and the big stuff will take care of itself.
(end rant)
I feel like we should focus on the big stuff like government policy and then we'll have huge improvements and little sh*tty improvements depending on where you live. Free up the public sector, competitive university system, streamline taxes, fiscal responsibility and low inflation, etc will do a lot to improve confidence in the rupee and the economy as a whole. Perhaps then we'll witness a slowdown in gold purchase and more innovation. I'm not sure what the cause of your rant is.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by KrishnaK »

Neshant wrote:
KrishnaK wrote: If cloud computing was hype, a major chunk of internet traffic wouldn't be served from it.
Cloud computing is nothing more than the client-server paradime that existed since the 70s.
The marketing departments of network companies came up with a new fancy term to describe the same old.
Austin wrote:Cloud Computing is just a jargon where Companies Reinvent the old thing in a new Avatar by giving new names to it , If it succeeds then Cloud is a success else next year they will get a new jargon for the same stuff.
Network companies ? :rotfl: I'm sorry but what you guys are saying is nonsense. Also off topic.
Singha
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Singha »

network cos have enabled public clouds to be feasible, just as they once did for enterprise /campus clouds. more the cloudiness more the data flowing over their gear and more sales.

it started a whole new industry how to provision, manage, secure shared physical infra for servicing multiple clients etc what the amazon elastic cloud or openstack consortium or vmware vcenter does...
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by vishvak »

It is as relevant as it can be. Networks and Networking Systems are still called the same even if these have been different at different times 1990-2000-2010. To an organization what difference does it make. Regardless of jargons cloud computing will be rejected or accepted as per requirements/issues and not as per sales pitch.

What is not relevant is the boast that debts were paid by housing market in USA and therefore it is not a bubble. what pays debt is called collateral which does not automatically mean housing market. This collateral can be national as also international and that international collateral become collateral damage due to USA domestic financial mismanagement.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Neshant »

Every now and then new terminology describing the same old client-server stuff is rolled out.

"Application Service Provider"

"Thin Client"

"Cloud Computing"

Its a never ending list of fancy jargon and alphabet soup acronyms that describe the same old.

I suspect these fancy names are dreamed up by the marketing departments of network companies to sell more sh&t to clueless CEOs making power point presentations all day. Get them all hyped up to do needless upgrades and drain the company's coffers.

Bankers have taken a cue from the fancy jargon creation to describe their own money printing & market rigging.
My current favourite fancy jargon from Bernanke is "forward guidance".
It conveys the impression of some wise guru guiding his flock through the valley of death to nirvana.

Another one of my favorites was doing rounds in the military forum a while back - "transfer of technology". That term was used to justify handing over billions of dollars to foreigners to buy weapons at enormous prices. The claim was that we'd soon be able to build a plane/tank..etc just as good as the import once the money was handed over. Nobody even stopped to question how does one hand over the brains of foreign scientists & engineers who spent decades honing their skills and the R&D infrastructure of their country.

So I invented my own fancy terminology - "screw driver technology". I was the first to coin the term and it spread like wildfire. I saw it both used in print media and even in interviews on TV by prominent personalities.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Neshant »

Austin
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Austin »

U.S. debt to China reached a record $ 1.3 trillion
U.S. debt to China rose to a record $ 1.3 trillion. As reported by the Xinhua News Agency, this was achieved through the acquisition of Beijing U.S. Treasury in the amount of 25.2 billion dollars in May of this year

"From the point of view of safety of U.S. bonds remain one of the most attractive financial instruments. Recovery of the U.S. economy strengthens the dollar, which is also a positive factor," - quoted by local experts.

China has become the main creditor of the United States in September 2008, surpassing Japan. Then buying dollars and U.S. government bonds has allowed Beijing to avoid the appreciation of the yuan and to support Chinese exporters.
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by TSJones »

Bill Gross is buying bonds, should you?

http://finance.yahoo.com/blogs/talking- ... 53803.html
vic
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by vic »

Chinese Ants are working hard for American Grasshopper.
Suraj
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Re: Perspectives on the global economic meltdown- (Nov 28 20

Post by Suraj »

The dove-to-hawk scale of Fed members
The 2014 member list seems distinctly more hawkish, unless the replacements for Bernanke and others are extra-dovish. Incoming member Indian-American Kocherlakota (Minneapolis Fed) is rated as a dove.
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