[Assam] World Economy & Guwahati Stock Exchan

Mon Sep 22 11:05:21 PDT 2008

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Ambani and UPA   September 2008 12:21PM

WaterWatch at yahoogroups.com

WaterWatch at yahoogroups.com
Note: Government's stated purpose of creating SEZs across India is “the promotion of exports”. Kamal Nath, Commerce and Industries Minister claims that exports will ultimately grow five times, GDP will rise 2% and that 30 lakh jobs will be generated by SEZs across India. It is also claimed by the government that SEZs will attract global manufacturing through foreign direct investment (FDI), enable transfer of modern technology and will also create incentives for infrastructure. The constitutional tenability of the SEZs remains questionable. In “The Polyester Prince”, the banned biography of Dhirubhai Ambani, a senior lawyer said,
'Today the fact is that Ambani is bigger than government,' said the lawyer in all seriousness. 'He can make or break prime ministers. In the United States you can build up a super corporation but the political system is still bigger than you. In India the system is weak. If the stock exchange dares to expose Ambani, he tells it: I will pull my company shares out and make you collapse. I am bigger than your exchange. If the newspapers criticise, he can point out they are dependent on his advertising and he has his journalists in every one of their departments. If the political parties take a stand against him, he has his men in every party who can pull down or embarrass the leaders. He is a threat to the system. Today he is un -defeatable.' 
Is Reliance really bigger than the nation-state?Is it irrelevant to mention that Sonia Gandhi, United Progressive Alliance chairperson and Congress party president, landed in Moscow in a Bombardier jet belonging to the Reliance that raised many an eyebrows? She was on a four-day visit to Russia as a private guest of President Vladimir Putin.Most recent illustration of Reliance's might is that when an RTI query on whether lifting of oil from Iraq by Reliance Petroleum was probed by Virender Dayal report on the Iraq Oil-for-Food scam. The UPA government said that the file is untraceable. The Prime Minister's Office, the External Affairs and Finance Ministries, in response to an RTI query whether lifting of oil from Iraq by Reliance Petroleum was probed by Dayal, have said they do not have possession of the report.In separate submissions before the Central Information Commission (CIC), the MEA intimated that the report, prepared by Dayal after meeting UN officials who probed the agency's Oil-for-Food Programme, would be available with the PMO. The PMO said that the report was with the Department of Revenue under the Ministry of Finance, which too has disowned having it in its possession. Following this, the CIC summoned the Chief Public Information Officer of PMO, MEA and Department of Revenue with the complete copy of Dayal's report, if held by them and if not then explain where this can be accessed.While, PMO Director Kamal Dayani submitted that only the notings in the matter were traced, but not the report, MEA Joint Secretary Pratap Singh said although the ministry issued the appointment order of Dayal, the report was never submitted 

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> Date: Mon, 22 Sep 2008 12:49:55 -0500> From: assamrs at gmail.com> To: assam at assamnet.org> Subject: Re: [Assam] World Economy & Guwahati Stock Exchan> > Uttam,> > Here is what a friend of mine wrote some time ago.> > *Almost 40 years ago......We learned about the efficiency of free> markets. Galbraith> noted that these markets were never free and that as capital became more> concentrated market forces stopped working.*> **> Inspite of what JKG noted, I still believe, that systems can be (and have> been) devised to account (or head off) for such concentration of wealth> the so worried JKG.> > What any system cannot do is account for cronyism and corruption at the> highest levels. Unfortunately these traits exist also among legislators who> eagerly pass regulations crafted by industry representatives.> > In the US market forces seem to have stopped working and divine intervention> is the only solution ( Here, of course, this intervention comes from the US> Treasury) :)> > --Ram da> > > On Sun, Sep 21, 2008 at 10:59 PM, uttam borthakur <> uttamborthakur at yahoo.co.in> wrote:> > > Ram Da> >> > The necessary corrollary to what you say would be corruption in Assam is> > peanuts compared to what happens in the heavens. One of your compatriots> > [meaning of the US] told me categorically when I had visited him that it> > (the US) is the heaven that teach us in the scriptures. Just in jest, I'm> > not serious here:-)> >> > Seriously, I'm not blaming formulas or models. But as in Physics, the> > problem of uncertainty arises in Economics when you intervene in a game> > where there are millions of players. It is not a zero sum game after all.> >> >> > Uttam Kumar Borthakur> >> >> >> > ----- Original Message ----> > From: Ram Sarangapani <assamrs at gmail.com>> > To: A Mailing list for people interested in Assam from around the world <> > assam at assamnet.org>> > Sent: Monday, 22 September, 2008 8:39:15 AM> > Subject: Re: [Assam] World Economy & Guwahati Stock Exchang> >> > 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/> > >> > >> > >> > > _______________________________________________> > > assam mailing list> > > assam at assamnet.org> > > http://assamnet.org/mailman/listinfo/assam_assamnet.org> > >> > >> > >> > > Explore your hobbies and interests. Go to> > > http://in.promos.yahoo.com/groups/> > > _______________________________________________> > > assam mailing list> > > assam at assamnet.org> > > http://assamnet.org/mailman/listinfo/assam_assamnet.org> > >> > _______________________________________________> > assam mailing list> > assam at assamnet.org> > http://assamnet.org/mailman/listinfo/assam_assamnet.org> >> >> >> > Download prohibited? No problem. CHAT from any browser, without> > download. Go to http://in.webmessenger.yahoo.com/> > _______________________________________________> > assam mailing list> > assam at assamnet.org> > http://assamnet.org/mailman/listinfo/assam_assamnet.org> >> _______________________________________________> assam mailing list> assam at assamnet.org> http://assamnet.org/mailman/listinfo/assam_assamnet.org
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