[Assam] World Economy & Guwahati Stock Exchang

Mon Sep 22 00:00:23 PDT 2008

Chandan Da
Thank you for not quoting Marx. I tried to veer away from any debate and so grazed the principles a bit superficially. I did not know about this quote. It succinctly puts the question in hand. When it comes to save the big business, the market gives way to state intervention. And it also answers your question about WHAT IS STATE. 

Uttam Kumar Borthakur

----- Original Message ----
From: Chan Mahanta <cmahanta at charter.net>
To: A Mailing list for people interested in Assam from around the world <assam at assamnet.org>
Sent: Monday, 22 September, 2008 8:48:39 AM
Subject: Re: [Assam] World Economy & Guwahati Stock Exchang

Bottom Line:

As Nouriel Roubini on the News Hour ( PBS)  said a few nights back:

"In Wall Street Profits are Privatized, Losses are Socialized".

At 10:09 PM -0500 9/21/08, Ram Sarangapani wrote:
>Uttam,
>My 2 cents,
>
>>The Economists have tried to fashion a mathematical model to >predict the
>movement of the market. But see the result.
>
>I think there are some very good models , but what economists and
>forecasters don't take into account is one big factor - human weakness.
>
>If one looks at this mortgage crises in the US, fingers point to common
>thieves in business suits. These scam artists have ripped off thousands of
>poor people trying to buy into the American dream. It is the same story from
>Enron, to Freddie Mac to probably AIG and Lehman.
>
>It is not models or formulas(sic) that ought to be blamed - but the
>"caretakers" of these companies.
>
>--Ram da
>On Sun, Sep 21, 2008 at 9:51 PM, uttam borthakur <uttamborthakur at yahoo.co.in
>>  wrote:
>
>>  There was a businessman in Mangaldai, Assam, who rose from the status of a
>>  water-carrier to a millionnaire (in INR). He advised his sons that they
>>  should not invest in Elephants and in share markets. The reason was simple:
>>  in his own way he believed that a game of chance is a game of ruin.
>>
>>  The Economists have tried to fashion a mathematical model to predict the
>>  movement of the market. But see the result. They have not been able to. I
>>  hear that even rocket engineers and mathematicians of the higher level are
>>  used to compute future and derivative markets. The failure seems to indicate
>>  one thing: the moment you predict a movement and take interventional
>>  measures, the affecting factors change (human mind included) and the outcome
>>  too is not what was originally desired.
>>
>>  As for the fate of the market, well, different people have different views,
>>  no chorus in unision: noises range from permanent crisis of capitalism to
>>  the end of history.
>>
>>
>>  Uttam Kumar Borthakur
>>
>>
>>
>>  ----- Original Message ----
>>  From: umesh sharma <jaipurschool at yahoo.com>
>>  To: assam at assamnet.org
>>  Sent: Monday, 22 September, 2008 12:53:04 AM
>>  Subject: [Assam] World Economy & Guwahati Stock Exchange
>>
>>
>>  In light of the current turmoil in financial markets any opinions by our
>>  esteemed economists - UPenn ( Ivy league) economics professor Santanu Roy or
>>  AIM's Shantikam-da Hazarika or other august members.
>>
>>  Over the past one week I have phoned many old friends - one is a business
>>  correspondent with MINT -affiliated to Wall Street Journal - he says that 3
>>  out of top 5 US investment banks are down. He agreed that housing market etc
>>  might be the short term problem. He was my roommate till last year.
>>
>>  Then I called a child hood friend now a senior guy in treasury in Indian
>>  central bank. He said that the problem is worse and all stock markets are
>>  interlinked - Gauwahati with NYC - etc - and thus US govt is nationalizing
>>  these finance companies  - like India has done for ages- against western
>>  advice. He has put off his plans to study economics in the US for some time.
>>  I find this is the right time to learn - just I learned when Indian economy
>>  was in turmoil in 1990.
>>
>>  My new roommate BITS Pilani graduate who worked with IBM and Microsoft
>>  earlier (in US) says that it is total deregulation by the US govt (unlike
>>  India) share prices can go up or down as much as anyone pleases - in India
>>  there are circuit breakers - prices cannot go up or down beyond 3%
>>
>>  any comments
>>  Umesh Sharma
>>
>>  Washington D.C.
>>
>>  1-202-215-4328 [Cell]
>>
>>  Ed.M. - International Education Policy
>>  Harvard Graduate School of Education,
>>  Harvard University,
>>  Class of 2005
>>
>>  http://www.uknow.gse.harvard.edu/index.html (Edu info)
>>
>>  http://hbswk.hbs.edu/ (Management Info)
>>
>>
>>
>>
>>  www.gse.harvard.edu/iep (where the above 2 are used )
>>  http://harvardscience.harvard.edu/
>  >
>>
>>
>>  http://jaipurschool.bihu.in/
>>
>>
>>
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>>
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