Global Economy-A Gamble?

If the United States sneezes, the entire world catches cold.

Nothing could describe the global economical situation much better than this phrase, a phrase very aptly coined.

Global economy we call it which started as a simple trade much earlier. It started as a barter system and was termed unfair by the greedy humans who wanted to establish their superiority and brought about the invention of currencies, well coins to be precise. A dame of nickel with a symbol imprinted having a face value was going to shape the world. Little did everyone know it was going to bring about the ultimate end?

The introduction of money changed every aspect of things in this world. It was at start a very convenient method to settle debts rather than roaming around in search for the one we need. But as the world seemed getting closer to progress, humans changed for worse. The whole idea changed with the introduction of different forms of currencies. Man started to establish his domination. The one with money had the power too. The era of division soon creeped in, the division was all different. It was based on money. The one with money was superior!

Money lending took to new heights and on came the banks to capitalize on our savings, reaping profits. After a millennium as we entered the year 2000, the crisis seemed not far way. The power shifted from the politicians to the economists. Meanwhile, in India, our worries were the exchange rate. Once we shifted to the floating exchange system in the foreign exchange market, our worries turned into nightmares.

In 2002, the economic condition of the developed countries like that of the United States, France etc boomed. Banks started lending cash at a nominal interest and every god damn person availed a loan, housing loan to be precise and ultimately landed up in a position of not affording to pay back. Banks’ debts increased and the Government had to intervene taking over the banks thereby leading to the Wall Street crash as we know it. Bailing out banks resulted in reduced exports and imports and in the collapse of the foreign market.

The housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crash had a huge impact in the rest of the world. Unemployment rates increased all over and it became seemingly difficult for one to sustain. The dominoes started falling once the United States’ economy crashed and the Governments of other countries started to panic. The politics worsened the situation. The congress in the United States vetoed the 700$ bailout which sent all the leading banks home!

Recovery was a utopian dream but in the long run seemed possible. There came the role of an economist, one who could foretell the world’s future sitting in a remotely abandoned place. They could make sweeping claims about countries in which they had never set foot in.

They had the power beyond their wildest dreams to bring the world out of crisis. With the financial market in a bustle and the entire foreign trade turning into a gamble, how simple things would have been if the mankind had just stuck to the rice-wheat exchange?

Home pass please! (Amrita)

The “process” would start approximately 2 to 3 days before the period of holidays with a notice, in the hostel, that would read “Home pass for so and so holidays given from 6pm to 8pm. No pass will be issued after 8pm. Blah Blah.” This would be followed by 2-3 days of impatient wait. After the entire last minute packing and wait, its exultation for the students who availed the pass for a temporary escape from the “Prison”.

One would find the campus with lot of activity on a day like this. The college will end at 3:30pm and five minutes later one can find students with their luggage roaming around the campus, chit chatting, dining in the canteen, and walking all the way to gate, withdrawing money from the ATM and after this the only person obstructing freedom would be the security; handing him the pass would shut his mouth.

Then the crowd eventually shifts to the Ettimadai railway station, now there are two sorts, one on their way to the Coimbatore junction and the other to Palakad City. The station becomes deserted after 7:00pm. A thirty minute fun journey from the Ettimadai station is all that separates one from good food. After an impatient walk, with a growling stomach, amidst the swarm of people to the cloak room and depositing the luggage there after a long wait, the noises from the stomach turns into a roar before one can lay his hand on the food.

After a sumptuous dinner followed by dessert, spiced up with conversations, all that is left to do for one is to board the train after bidding farewell and promising meet ups. As the horn sounds and the train moves, sitting with excitement and expectations at its peak, the thought of mom, dad, friends and not to forget the good food for the next few days. 

P.S. Something all hostelers can relate to.

Paranoia

On a journey that was supposed to take only 30 minutes, although taking twice the time, all I could see on the road, watching through the window was CHAOS and CRISIS.

The inception to all these was the power shortage and the scheduled power cuts across India. While cities like Chennai, Bangalore had only two hours of the power cut, places like Tuticorin, Coimbatore experienced the wrath of the TNEB with power cut up to 12hours.

Adding to the list of crisis was the water shortage which was more imminent in Bangalore, which is now so full of software companies and malls that residents have had to compulsorily go in for external supply. Houses are being built across every inch of space available thereby adding salt to the wound.

Okay now moving over; I’m eighteen and I, like every Tom Dick and Harry had a dream of getting a bike and a license so that I need not walk always.//you might all say walking is okay as using a bike causes pollution and crap, well it’s not possible to walk in Chennai in the month of April, May…//But now, the dream is nowhere near to reality. With the prices of petrol shooting up overnight and the limited availability has resulted in the increase of prices in everything, right from auto fare to the income tax rise, and not to forget the long queues outside the petrol bunks. It is sad to see the international oil prices go down whereas here in India we have a shortage and costs are on upward spiral.

An eternal problem, in India there are Engineering colleges in almost every street and we produce the maximum number of Engineers, yet we’re far behind in development. I have always had this insecurity of ending up without a job for there are enough people. There exists an imbalance, surplus people and job deficits. This has not only created an atmosphere of division but also to the era of malnourishment and poverty.

While we keep pointing fingers at others and are happy to let them take the responsibility, there really is never an end to this entire crisis. We have never really stood up to any cause that actually is worth all our time. We are content in watching a staged show. We are greatly elated in watching the Indian Premier League when we very well know there is no cricket involved in it. The league is just like a circus where each match is an act.

The league is watched by the division-ed upper and certain middle classes whereas the lower class is not greatly connected with the tournament. The league is just another way to rob our money and time.

 I am not against cricket; it’s just that I don’t think IPL is cricket. Cricket as a sport I enjoy when played between countries. Even the lower classes are connected with the sport when the national team is in action. The IPL has contributed a lot to the era of division based on money.

A winning parade?

We bloody waste our power like this and the Government expects to find solutions in scheduled power cuts.  Our Government is continuing to do what they are good at, taking things from the common man and giving it to undeserving idiots.

It’s even sadder to watch political ass holes like Mamta Banerjee stooping down to such low level by honouring a team that has effectively done nothing but win a staged show.

 With the resources being depleted at a rapid rate and the power concentrated in the hands of few, is it going to be the end of the world as we know it?

Staring at the signal (red) and seeing the countdown, I could only relate it to the wait for destruction, to chaos and to the very END as predicted by the Mayans; with each second in sync with my heart beat!

P.S. I very badly wanted to bring in IPL.