India's furious economic pace is no accident 1212

On Wed, 20 Sep 2006, Kamal R. Prasad

Premature prediction. You still have to many people, too much malnutrition, too much AIDS, too poor education system, reforms all dead in the water, and MNCs (see yesterdays Financial Times) even favoring Europe over Asia,now. India cheating on tariffs.

China is backlashing, now, on FDI into China, blocks on banks & brokerages, revieweing all new FDI, tariffs (see WTO complaint by US, Europe, & Canada, recently).

Someday, 'dumb'

Your Indian nationalism is already pretty close to fascism and obvious.

You really need to read Eduard Griffin's book "The Creature from Jekyull Island..." Then you would really wake up to real magic. Its all about where money comes from and where it goes, and its much much much better than Galbraith's book with the breastle "Money, whence it came, where it goes" which I also read, and is very poor. And, I know I speak the truth on this. I looked some of the stuff up in other boks on banking. You, on the ohter hand depend on pure bluff.

Capital can be generated from

And, where do you think capital comes from?

The thing that enables growth of

And, how do you do this better than by getting nice big Debt Loans (which come from money deposits by other people), piles of money by IPOs (which get money by selling printed pieces of paper). Or, bonds (more pieces of paper) that are given to people in exchange for their money. And, I'm really telling you that you really don't know what you are talking about.

Britain became prosperous due to

Just like the Chinese devalued yuan, Japanese manipulted prices, and India's tariffs. viz. the Indian tariff on Scotch whisky is 550%.

Likewise, technological

Ah...your "slave labor in the USA" is a myth but child slave labor in India is a reality.

lead to the blossoming

Someday, maybe, India will have this, too.

If China is becoming prosperous -it is because it is

everyone but you knows that this is because of the devalued yuan.

No harm in

If the yuan were valued properly, all that work would come back to the US overnight. Everyone but you knows this.

1.3 billion people there can

Idle boast. But 1.3 bil people benefit from all those USD falling on their heads as a free ride to a better life.

When the bubbles got bigger, yes, people got rich. When the bubbles burst, they got poorer. The brokers always made the most money.

Because they are stupid and-or just want to see a lot of neon lights.

Every state govt that opened up a lottery made money. Insurance companies always make money, too.

Economics has a long way to go. Steve Keen wrote a book I told you about many times now: "Debunking Economics" and he himself is an economist. He's even got a list of economist predictions, laws, and theories that are false, invalid, or wrong.

Some-many of the formalizations took place after

I have two books on histories of economic thought. There were many schools of thought, mostly contradictory and mutually invalidating. Most of those schools of thought are listed as obsolete. I'll be putting together a file on this in the future.

There might have been eastern literature that is more

All the original famous names in economics are European or USA.

What I can tell you for sure is that the

The graph I saw showed India and China dominating trade in roughly the 1800s, then the USA took over to about 1950-60s-70s. Now, just a small bit is going back to China-India.

Any person with real wisdom will say it is too early to say what will happen next. Right now, China and India have at least two times as many people as would be sustainable.

A big lie since India still does not have open markets, and the whisky tariff is 550%.

and Islamic invasions

All just a bunch of excuses.

Market

Oh, I think he wrote one of the best sentences about comparative advantage: here it is again- ---------------- The following quote is from Business Week, December 6, 2004 and from the article "Shaking up Trade Theory" by Aaron Bernstein on pages 116 to 120. (The subbreastle of the article is: "For decades economists have insisted that the U.S. wins from globalization. Now they are not so sure")

They quoted Paul Samuelson (MIT) as saying "Comparative advantage cannot be counted on to create...net gains greater than the net losses from trade"

-------------

No, the trade imbalance depends on equitable exchange rates. Any country can cheat another country by devaluing its currency and we all--who have looked up the exchange rates-- know that India has a highly devalued currency.

When they lost wars, the definitely went into declines. Just like stock markets that crash after a bubble (without a war) make stockholders lose value in their stock. Same effect as too much inflation.

You really need to understand fractional reserve banking and how it makes money. It is truly magic. And, it is right in front of everyone's eyes. I can remember ever time I talked to anyone at any bank about this, they all said that whatever X dollars I deposited, some 80-90% of it is loaned out the next day. My piece of paper is a bank deposit book that says with ink and paper that I have X dollars available anytime to me, and 0.8-0.9timesX dollars got loaned out to a borrower the next day, and they charge him N% interest and pay me N-(2-3)% interest on my deposits and that difference pays the staff of the bank. This is almost all over the world.

Credit Debt cards give you and millions of people free money for 30 days, all out of thin air (of course you have to pay it back into thin air later, but for those 30 days, you can buy and own stuff for free).

Stocks, bonds, etc., all printed paper. Think about it.

Its all in Griffin's book. Probably the most important book I've read in 20-25 years. But, we are all at the mercy of a kludged world economic system and a crisis can come along and wipe out a lot of innocent people.

nobody would be

Your beautiful equation, E=MC**2, makes a ton of energy (and a ton of radioactivity) out of very very little material. Pretty close. Plants, using photosynthesis, make a lot of things important and valuable to us, just from planting a very small seed in the ground. Life is magic, too. Solar cells, expensive to make, give us electricity from free sunlight. The story I'm reading is that solar cell manufacture and sales is skyrocketing. Just today, read that 30% of silicon is going into solar cell panels and production can't meet demand.

Figure out how to make polycrystaline silicon 99.99999 pure and you can get rich.