Irony

Weird Wednesday

The other day I saw an ad on TV that spoke of the dire state of education for everyone especially in rural India. It shows a little girl sitting under a tree talking to herself saying that she can't go to help her mother cook today and that she can't help out in the fields - because she is going to school today. And then the sponsor, a large FMCG conglomerate puts a message saying that out of every sale, some portion would go towards rural children's education. 'Padhega India, tabhi toh Badhega India' the catch line says.

A friend of mine who lives in a first world nation remarked to me the other day that now that summer was imminent, there were loads of hoardings and advertisements on TV relating to sport. Rollerblading, soccer, everything that can best be played and enjoyed in sunshine, when the world isn't covered in snow. And she told me about a certain set of ads by a hardware store, that said, 'Buy here, so our children can play!' It seems that that ad had kids of different races each staring into the camera with a line above their faces that read - 'I only want a tennis racket' or 'I only want a pair of cleats' or 'I only want a pair of inline skates' and so on. The ad apparently ended with a bunch of kids entering a hockey field in uniforms and in place of their names on the back of their jerseys, they had the names of each of the store's products. The purport was that the store was involved in CSR towards ensuring underprivileged children could play.

The irony hit me. Call it Marie Antoinette, but India sure has a long way to go!

60 years of the Indian Republic

60 years of the Indian Republic today. We do have a lot to feel proud of. Two years ago, when we celebrated our 61st year of independence, I wrote this piece on 61 years of aspiration. Yes, we do have our problems and issues, vis-a-vis all-round development, all-inclusive growth, corruption, population, caste differences, etc etc. But the hope remained. Since we are a young nation, we have a lot to learn and a long way to go. We are very very early on the learning curve and as classical global economics says, the lesser developed you are, the faster you grow (the concept applies to capital accumulated by a country, and I choose to extend it to development as well).

We have made a mark in several areas. We have won accolades in the international arena for our deft manner of handling the economic crisis. Our financial systems have been robust. When the world around us was crumbling like a tower of cards, we showed a minor dip in GDP growth, still clocking 7.9% when a greater part of the world reeled in negative growth numbers. We won 2 Oscars last year, won an Olympic Gold and we also reached the moon. Over the past 60 years, we have never had a miscarriage of democracy, with the only attempt during the emergency being cruelly punished in the subsequent election. Our democracy continues to be our strong point, with the world having more faith in the Indian story primarily because ideologically, our country risk is a lot lesser.

But we still have a lot of ground to cover. We are the only stable peaceful nation in South Asia, and that puts us in a precarious position, with our neighbors being consumed by the tentacles of terror. Our own peace and safety were very cruelly jolted in 2008, with the terror attacks in Mumbai. The perpetrators have still not been brought to book. Sardar Patel, all of 60 years ago went on a mission to integrate all our princely states and built an India. Now again, separatist movements are raising their ugly heads, demanding a separate Telengana, a separate Gorkhaland, and now UP apparently should be trifurcated! When I was in school there were 25 states and 7 union territories. At this rate of fragmentation, I hope we don't say that India is x countries, y states and w territories. All inclusive growth is still all elusive, and the repercussions of the same are train hijacks, maoist attacks and demands at gun point. We still have the dubious record of hosting Asia's largest slum, and we take morbid pleasure in this pain point, by indulging in 'slum tourism' - disgusting indeed.

This post might look pessimistic, with the paragraph on issues being larger than that on achievements. But that is not true. If anything, we Indians believe in optimism and given that by 2050, India's average age of population would only by 35, ours is indeed a young country with stars in her eyes and an ebullient enthusiasm to match. Yes, the path is fraught with challenges, but we will surpass them all and emerge developed!

2009 - a year that was

Ok, almost everyone chronicles the past year. On thing I like, is the one liner event history that figures on Wikipedia or the year round-up in the economist. But for me, the events come to mind at the top of my head at the end of the year, hold most consequence. Here's the roundup of things that defined the past year -

This year marked many things. It began with a bush fire in Australia and surprisingly ended with one in the same place as well - almost setting the tone for the fiery year in politics and the world ahead. Barack Obama became the 44th US President - after a well crafted, technologically and ideologically vibrant campaign. Although post election a number of factors have called into question the success of his presidency. Parleys on whether we were looking at a recession, or a depression, or whether countries like India were in a recession at all, occupied intellectual coffee table talks for a greater part of the year, while countries like Iceland collapsed, Dubai stared at sovereign default in the face, China boosted spending and India recorded 7.9% GDP growth.

Some things stayed staid, with a miscarriage of democracy in Iran and Afghanistan, which felt as though democratizing the Middle-East, an area famous for its tribal population suddenly were forced into something that they did not know how to handle! The Israel - Palestine conflicts continued. Zimbabwe saw the semblance of order with the power sharing deal to form a government, before a deadly car crash wounded the new President and killed his wife. The LTTE was finally defeated with the death of Prabhakaran, thus ending decades of civil war in Sri Lanka, opening a new can of worms related to human rights violations, displaced Tamils and alleged excesses by the Sri Lankan army. The Air France flight from Rio crashed into the middle of the Atlantic in one of the worst air crashes in history, killing all of 228 on board. The UNESCO launched the World Digital Library. Michael Jackson is gone - the music scene will never be the same ever again. This year also marked the 20 year anniversary of the fall of the Berlin Wall, which was much less the fall of an Iron Curtain, as it was the triumph of capitalism over communism.

Typhoons and hurricanes continued. India saw drought in the first half of the year followed by terrible floods in South India that almost wiped out portions of age-old villages. Climate change was becoming a reality and countries had to act really fast. Copenhagen came along, resulting in an eyewash of a climate treaty, which many hailed as at least a step in the right direction. Whether tangible benefits would come out of it, or whether the 'cold' war on who needs to blink first between the developed and the developing world would continue remains to be seen.

Sport faced several disgraceful moments with Lewis Hamilton and McLaren caught spying on Ferrari's technical documents, Flavio Briatore and Nelson Piquet Jr caught in crashgate, only to be topped by the great Tiger Woods proving he loved something more than the 18 holes of golf! Then again, the FedEx - Nadal duel got better, with Fed-Ex snatching sweet revenge thanks to an out of form Nadal. The Indian cricket scene never looked better, but the overdose of the willow implied that cricket now became almost akin to a 9-5 corporate job, with weekends off!! And then came the icing on the cake - the final and sure return of Michael Schumacher to competitive racing, thrilling several Schumi fans across the world.

2010 is not just a new year. It marks the start of a new decade. A decade that began with a promise post Y2K, saw the rise and fall of several governments, terrorism rise to its peak, economic crises of enormous proportions, a new Pope, an American President from a minority community, Saddam Hussein, Benazir Bhutto gone, shards of democracy in the middle east, strife in Pakistan, growth in the BRIC nations, the sudden rise and rise of China, the lost decade in Japan and a lottttt more. I could go on and on, but I'd perhaps reserve all that for another post. That said, hopes abound for 2010. Hope the economic downturn swings into an upturn. Hope there is peace in this world, with none of the disgruntled nations engaging in conflict. Hope that the blue moon that showed its face in India yesterday heralds a new beginning for everyone. Happy New Year everyone!

Confucius and Climate Change

The weather is beautiful. The skies are cloudy, the winds are cool. The atmosphere is absolutely intoxicating. The fresh smell of rain-soaked mud, the pitter-patter sound of raindrops, everything 'perfect' in the eyes of a romantic.

Would have been perfect, if only such a weather had existed in July, rather than October in Mumbai.

2009, was declared a drought year. Cut to June- July 2009. Crops failing for want of rain, pictures in newspapers of farmers looking skywards, expectantly, all portrayed an image of the India of the 1950s. It looked rather sad, since those vivid images were a stark contrast to the image of emerging India that we generally perceive.

Cut to October 2009. A deluge in South India. A catastrophe that has not been encountered for over 100 years. Villages submerged, people dead, crops devastated, the rice bowl of India affected adversely. Before I was to leave Hyderabad, I was not too kicked about leaving behind a perfectly cool climate, to come to Mumbai, which I knew would be in her 'midsummer blues'. But I was also relieved to finally be able to travel at a time when there would be no flight delays thanks to bad weather in Mumbai. And surprise surprise, all such expectations were killed, when we were told that BAD WEATHER in Mumbai had delayed the incoming flight. All of us were stumped, since it is rather uncharacteristic for 'bad weather' to prevail in clear skies October! But then again, this whole confused weather pattern is unprecedented. Right from the frigid winter of 2007, in Mumbai, to the current rain patterns, it is bizarre! As though the Earth were screaming for help, by sending these incomprehensible signals.

And as though on cue, we have this whole impasse on the climate change dialogue. Confucius once said, " He who does not economise will need to agonize" Seems apt in the light of our current climate issues. I'd put in a post earlier (of outcomes and interests) on how expecting the emerging world to co-shoulder the climate change burden in a 50:50 manner along with the Americas and Europes of the world was almost certain to lead to a deadlock, with no amicable solution emanating thereof. And now, the UN General Assembly meeting has achieved just that, with everyone playing the penguin game - one where everyone waits for another to take the lead. In a classic case of what psychologists call 'mistaken attribution', the focus was more on WHO was responsible and WHO was not doing what was to be done, than on a clear idea on WHAT needs to be done to tackle the challenge as a global community. Here are some statistics in the map to prove why such circumlocutory behaviors are circumspect! The logic / rationale behind the developed world blaming their laggard approach on the lack of 'co-operation' from the emerging world is absolutely not justified.

The fact remains that the world is screaming for action. We need to act before it is too late. Mumbai, on the west coast of India is served by the South-west monsoon winds from June to September. Geography lessons in the lower classes had taught us that India has 3 main seasons - summer, winter and monsoon. And we also had specific months when these seasons would prevail. But imagine a classroom conversation of the future, if we don't take the cries of nature seriously -

"Teacher when do we have summer in India?"

"I can't say with certainty".

"Teacher how do crops grow?"

"Only with the blessings of God, since rains are never dependable"

What can we as the next generation do? Well, the usual stuff that we already know of, cut auto emissions, since that is the one portion of the emission story that is clearly in our hands. And on another level, we must use climate change idealogies as a guiding factor while choosing our elected leaders.

Manic Monday - Are we Indians truly worth it?

Andie McDowell, Aishwarya Rai and Eva Longoria look us in the face and say - 'Because you're worth it'. But are we really worth it??? India is reeling under swine flu. That said, I just saw some reports of Chikungunya cases being reported in AP. Even a bustling metropolis like Mumbai was not spared. Pune and Mumbai became swine flu spots. And the administration received well deserved flak for not having a proper process in place to check the pandemic! We are supposed to be the sunshine country of the future. Linked with China, poised for growth, harbingers of the world economic order! And here we are faced with drought, (which climatologists claim is a natural occurrence once every 5-6 years, scientifically), a pandemic, the world economy is hit and all hell has broken loose!

Dr. Amartya Sen in his book Development as Freedom has compared the India-China story and described how the Communist, populist regime of China pre-reform focused on 'people development'. One can attribute some level of the people-centric policies to the Chinese culture, where education and all-inclusive health care are principles ingrained into their psyche. Chinese and Japanese were supposed to be the lodestars of human civilization and culture in the ancient times, after all. So, an offshoot of this deep culture, stood them in good stead, whereby by the time China got ready for reforms in 1979, they had a prepared, educated population all set to exploit the reformed economy to the fullest and steam roll their way into the future.

Could we perhaps even attribute this process to communism? Communism, as a philosophy speaks of 'down with the owner-worker relationship' 'everything belongs to everyone'. So could it be that these deep populist, equitable distribution seekers could allow this philosophy to creep into the realm of governance and ensure all inclusive provision of basic facilities? Take Cuba, for instance - it is supposed to have the best education and health care system in that part of the world. The statistics speak for themselves. 4th highest in literacy rate, with literacy rate almost reaching 80%. Before the Cuban Revolution, Cuba had the third-highest number of doctors per capita in Latin America, the mortality rate was the third lowest in the world, infant mortality rate was the lowest in Latin America and the 13th lowest in the world, and life expectancy was some ten years higher than the Latin American average. Kerala - the Indian state with the highest literacy rate, and maximum institutional births in India. Although industrial growth has been dismal, quality of life for the people is rather high in comparison to the rest of India. The key again was inclusion in provision of health care and education, that resulted in overall upliftment.

So, while China was prepared for the liberalization movement, India in contrast, when she liberalized her economy, opened up the economy to grossly under prepared people, who were still majorly illiterate and perhaps never understood the modalities of a liberal economy. As a result, to a very great extent, it appears as if the whole liberalization regime was either too premature, given India's gross lack of preparedness to rise up to the challenge, or the developmental part has a lot of catching up to do, to make up for the lost ground.

That said, it is perhaps not enough to just develop pockets. It doesn't make sense to have the most opulent sea facing mansion on one end, and Asia's largest slum on the other end of a city's spectrum. Unfortunately, this spectrum is indicative of the pattern existing in India as a whole as well, with interior India still struggling for electricity and water, while some other regions grapple with issues of floods. It is all a bit murky, and a lot of sorting out needs to be done. But at least the administration seems to have its heart in the right place. There has not been a famine in India since 1947, and Dr. Sen attributes this to the fact that we have a democracy, that ensures that vote bank politics prevents governments in office from not taking adequate steps to arrest famine in the wake of food shortages. One just hopes for words to get translated into actions and we hope that a sunshine nation like ours may not still, after 62 years of independence, grapple with issues like drought, policy initiated 'food crises' or curable diseases turning into pandemics!

Friday Funda : Protectionism

Remember the in-flight safety video? Where the oxygen masks drop during turbulence and you are told to mask yourself first and then help others out? Well, economic recessions and fluctuations are a lot like mid-air turbulence. They throw all sense of routine and uniformity out of balance and every one's life is thrown in disarray. At such a time, is it wise for a country to take on a similar 'protect yourself before you protect others' approach when it comes to economic growth?

The answer, I felt till a very long time was yes. Each one for himself. Tough times need tough action. And if I don't safeguard myself, how can I expect someone else to safeguard my interests?

As it turns out, this idea is wrong in a globalized world. Given the current economic downturn, many nations are feeling the pinch of recession, and are scrambling to save themselves from collapse. Underdeveloped nations that depend on the developed world for survival have had to bear the maximum brunt of the recession. But what is surprising is that in spite of the degree of development achieved by the developed world, in spite of the cushion of comfort the numerous years of growth have afforded them, the developed world also tried to scramble for cover! A glaring example is the 'Buy American' clause in the rescue package of the American government. I happened to see the hue and cry against this clause in Canada, whose dollar value of trade is the largest with USA, and it was then that the full force of the argument hit me. Look at it this way. The world is going through turmoil. Internal consumption is hit badly. So, to keep the economy afloat, you need to look outside - trade. And if your counter party (who happens to be an economic superpower) in the whole trade equation turns away, to protect his own interests, where else do you go? Superpowers are afforded that status for a reason - the immense accumulation of sustained growth over the years is actually supposed to put them in a position to help other 'comparatively needy' countries out in times such as these.

I remember having read an article once, when the whole cap on H1 visas came out in early 2009. The article spoke about parochial decisions that make a government want to look inward and at short term political benefits while forgetting about the long term implications of its actions. In other words, the article went on to say that in a recession, where a sudden spurt of growth through innovation is the need of the hour, if a country like US were to shut its door to skilled labor, they are in a way missing the forest for the trees! And later, when the recession goes away, the opportunity cost for the skilled labor may not be incentive enough to make them want to go to work in the US. At such a time, the long term picture would have effectively been ruined on account of protectionary tactics of the past.

Funda conclusion - Protectionism - not good. A superpower must use her superpowers to elevate all those suffering under recession, and such a mass elevation can alleviate every one's issues collectively.

Goodbye Michael Jackson

We woke up to a different world today - A world without Michael Jackson, the KING OF POP. A world where we will never get to hear that magical voice singing new tunes or the legend moonwalking on stage. I feel like I have lost a piece of my own childhood! MJ's songs were the ones that initiated me into the world of MTV. I remember listening to 'Beat it', 'Bad', and 'Thriller' over and over. I more vividly remember losing my heart to Dangerous. In fact, that was one album I had heard over and over, at least a 100 times!! And for good reason. Well, we have to hand it to him, that he was one musician who endured over the decades, with great music.

MJ was unique in a lot of ways. His music was his USP of course, but he was the first one to link music and brilliant dance to the music to generate the whole genre of pop. Second, he really was not this amazing looker, who could generate the oomph appeal, much like an Enrique Iglesias or an Elvis Presley. But quoting his own words - 'there was something about him baby....' . Another aspect was that he was the first African American to break the bounds of jazz and enter the world of popular music or pop. So for all the African Americans out there, he was a sign of the power of talent and will. The part I loved the most about his music was his innovation in tunes. 'Heal the world', 'Will you be there', were the gentle, mellow numbers, while 'BAD', 'Smooth Criminal' and and 'Beat it', were typical dance floor numbers. At the same time, he could make soul stirrers like 'Who is it' and 'Give in to me'. Clubbed with his voice, his dance and such a diverse portfolio of musical expressions, he managed to be the only player in such a unique segment - A complete portfolio, if you will.

Everyone had a thing or two to say about his personal life and his epithet of 'Wacko Jacko'. Be it the rumored multiple cosmetic surgeries, the molestation charges, dangling his kid from his hotel room, or his weird dressing sense towards the decline period of his illustrious career. All I say in return is - tell me who does not have a quirky side? Celebrity does weird things to normal people. I'd put in a post in 2008, on this topic, relating to Britney Spears, talking about how we fail to treat our celebrities as humans. The post is here. But then again, somewhere, the celebrities wish to be exalted and treated like Gods. They love the adulation, the scrutiny, but somewhere someone crosses the line. The world keeps watching your every move, and you like this adulation, and miss it when competition eats into your fan base's air time. So what do you do? The power of what you are missing has the potential to actually drive you over the edge. MJ's behavior to some extent, therefore, can be declared understandable. And even for the wacky side, I ask, whether he let his 'wackiness' get to his music making ability? Well, it added a touch or two of genius if at all. But he is adored for his music and his talents and the rest of him is completely irrelevant to what we love him for.

Another sudden loss to the musical fraternity. Reminds me of two other youth icons - Elvis Presley and Kurt Cobain. Similarities in circumstances, somehow strike me as being really odd. Presley and MJ - linked in more ways than one, cult following, the fan base, and ethereal music, with MJ briefly marrying Lisa Marie Presley, Elvis' daughter. Of course MJ and Cobain cannot be compared on grounds of music, fan base or achievements, but each of the three has left behind a gaping hole in the world of music, and all three left a huge fan base feeling incomplete. And again, each has a conspiracy theory or two surrounding their sudden deaths. What pains me more is the fact that such talent did not quit while it was winning. There was a precipitous rise to fame and an even more precipitous decline. But, MJ was due to stage a comeback next month, to make good all his monetary losses and prove to the world that he is still very much alive and very much capable of making the Michael Magic again. Alas, that was not to be. But the world would remember him as the King of Pop, who gladdened a million hearts, mine included. He was the BAD Dangerous, Smooth Criminal, who could indeed Heal the World. Goodbye Michael Jackson, we sure will miss you..............

A highly bizarre week that was

This week has been a motley week of bizarre happenings. First terrorists, who have more or less become permanent fixtures in modern day life, have proven beyond doubt that terrorism has no affections or soft corners. Even in ancient times, arts and sports were beyond the reach of war. During the Olympics, all warring nations would cease their war efforts and participate in unity in the games. As times progress, humanity is said to have moved deeper and deeper into civilization. May I safely assume, that the present day behavior of terrorists, that shows gross disregard to sports, and to innocent civilian life, is actually a regressive step towards barbarianism? Is this the civilization of tomorrow? Well, Pakistan is already crumbling. What with the Taliban in the Swat valley, and with and economy sunk in debt. Cricket was by and far their only saving grace. They did have a decent team, that could actually give World Champions a run for their money. At such a time, a planned terror attack that challenges the well being of visiting, touring cricketers spells doom for any of Pakistan's prospects of resurrecting its failing image. More so, when the visitors were Sri Lanka, who also are sufferers of the same plague called 'terrorism and lack of internal security'.

Bangladesh Rifles - mutiny. The last time I heard this word was when I learnt Indian history that spoke of the Sepoy mutiny of 1857! I mean, what does it look like? Does the Indian sub continent look for some damn reason to be in the news? For all the wrong reasons that too????

Next up. The whole mess surrounding Gandhiji's things. There's a Tamil saying about a guy who left an elephant's trunk and tried to catch it by the tail - 'Thumba vittutu Vaalala Pidikkara Kadhai'. We Indians seem to operate in a similar manner. Cricket matches to Indian prestige issues. We almost always let go of a victory at the top of the innings and depend on Kumble and Harbhajan to bail us out in crunch matches. Likewise, why do we always sit by the sidelines and drag our feet, in global matters pertaining to Indian things? Remember the patent on Basmati and turmeric? Almost similarly, some Otis guy comes up with Gandhiji's things to put on auction, and only then do we realize that something of historic and sentimental value to us is being 'sarey aam neelaamofied'! And then it hits our government to do something in this regard. And even then they hunt, and think, and discuss and decide and lawfully try to work their way through goodness knows what, till finally, a beer baron goes on, bids at the auction and gets the memorabilia and donates it to the government. Strike one, two and three!

And finally, its time for Africa. A beautiful continent, with rich environmental resources. Gold and diamonds more than anywhere in the world put together. Forests and wildlife better than anywhere else in the world. But poverty, angst, disease, death, ethnic cleansing, genocide - the only place in the world to boast of these vices. Sad? Very! To watch what can actually be a thriving continent, that can perhaps fruitfully employ its vast resources, wither away into decadence and waste, is saddening, to say the least. Africa can make use of its people, who are traditionally hard workers. She can popularize her culture into a unique art. She can put her geographical vastness and strategic location to good diplomatic use as well. But internal issues that have festered for centuries on account of either complete condoning by superpowers or tacit complicity of powerful people with what is wrong have reduced Africa to a wasteland. Take Zimbabwe. With inflation well over one million percent, the economy is in shambles. With a simple disease like cholera claiming 85,000 lives, the country's infrastructure is in ruins. With election results being botched amid high bloodshed, the country itself is in dire need of a messiah. Morgan Tsvangirai, the PM who was sworn in a few weeks ago in a highly publicised 'power-sharing deal' seemed to have at least some right answers. And today, a car crash has left his wife dead and him in hospital. Is there any hope at all for this angst-ridden country nee continent? May God's grace come upon Africa to try to protect the beautiful continent from self destruction.

Yippee for India at the Golden Globes....

Yay! Slumdog Millionnaire was a huge winner at the Golden Globes. At last something is looking up for India.

This movie was shot by a foreigner, but starred an Indian crew. It was shot in Mumbai, but won accolades outside. It was a foreign film with an Indian soundtrack. A foreign director with Indian actors.

The win is in line with the storyline, in line with Indian cinema as well. Sweet dreams bordered by destiny, fighting odds, but leading to happy endings. The movie is essentially Indian. We fight, we fight the system, the enemies, the corruption, the sorrow, the poverty, but we win. We win in terms of happiness, culture quotient, hope and survival. This movie is that spirit captured on celluloid.

And a win for the music score (completely Indian with Mr Rahman making desi music - Thank you sir, you have made India truly proud), the director and the best movie of 2008, is a promising ray of hope for Indian cinema, and definitely India. After all, this is an Indian story of an Indian dream, shot in India with Indian actors, Indian music, and based on a book written by an Indian. This was one highly deserved victory, and one highly celebrated one as well. Cheers to India.

Just an afterthought - If Danny Boyle could manage to make a movie that was Indian in all respects, couldn't we Indians make a 100% Desi movie, complete with an Indian director? I mean I am happy about this win, but that kind of a win, might make a billion Indians ecstatic!

These awards truly feted talent - Kate Winslet for the Reader and Revolutionary road - a highly talented actress, who has always been eluded by golden statuettes, Slumdog Millionaire, and of course the man with the Golden Touch - Steven Spielberg who was given the Cecil B Demille award.

And finally - one thing caught my eye at the end of the ceremony - the Golden Globes are 'audited' by E&Y - a Big 4 accounting firm. So wow! The Big 4 cover everything - from fraud to the Golden Globes - Inspiring stuff indeed.........

This was one happy way to write my hundredth post at The Lilac Avenue!!!

Of frauds and scandals - Wrong thing at a wrong time

It wasn't a premonition that made me write about Satyam yesterday. But it is a demolition that has made me write today. Satyam, one of India's strong IT firms has reported fraud. Fraud of the first kind. Reported cash where there was none, and reported under exaggerated spending figures. Wait, it got worse. This has not been a trend of the past year or two, but of the past 10 YEARS! And the worst part is - PWC audited them and Satyam was ranked one of the top 50 companies of all time in corporate governance. Well, a rude shock indeed.

When the world is reeling under a credit crisis, stock markets are spiralling to hitherto unknown depths, the mayhem is spreading to other sectors after affecting manufacturing and housing, unemployment in the West keeps augmenting, general investor sentiment is to hoard cash under the mattresses, the world needs some strands of hay to cling on to! Unfortunately, now, since freely flowing credit has dried up, all the skeletons are coming out of the closet, much like the bones on a riverbed can be seen during a hot summer as the river dries up! First - Bernie Madoff - a classic 'iski topi uske sar ' story. Remorseless profiteering, using unfair means. Now, Satyam, whose woes began with a crazy diversification of stockholders' money into a family enterprise finally leading up to the opening of the ugliest can of worms India has ever seen since Harshad Mehta.

This has loads of implications and repercussions. India has a rather strongly regulated banking sector. So, India was spared the debilitating effects of the credit crisis the world now faces. IT and IT services are India's main USP. But India is still a young nation. We haven't even reached a 3 digit figure for years after independence. So, facing fraud in the sector that in a way differentiates India from other emerging markets is, tough and sad to say the least. Investor and client sentiment would decidedly begin to spiral down. Where can India then move to find its elusive economic stronghold?

So much for India. A bigger repercussion according to me, is the dent on the credibility of the Big 4, at least in India. Auditors are historically feared by all firms, big or small. Now, if a huge auditor has not noticed anomalies for not one, but 10 years, its like the 'Dark Ages' all over again. Who do we believe? Madoff has sparked off fire on the SEC in the US. Will Satyam cause ICAI to re-visit its processes? Must SEBI also stop resting on its laurels and begin to ensure that the prices of stocks are truly aligned to the core competence of the listed firms? But then again, will an over-reliance on external governance result in contrived growth on account of controls based on extreme caution and suspicion? Will this eventually turn the whole world RED?????

One man show in Corporate Governance - a thought

Big news today was Steve Jobs losing weight. Big Indian story this year was Satyam investing in Maytas. What binds these two stories together? Corporate governance. Oh yeah. Stock prices showed how 'One man can make a difference', though that one man was not Michael Knight of the Knight Rider. The Internet abounded with stories of Jobs being plagued with an unknown disease, perhaps even dying, since everyone was stumped at the precipitous loss of weight! So, to allay the fears and make everyone know that Jobs was not yet ready to quit his job, Mr Steve Jobs of Apple went on to sing 'Alright, Alright, everything's gonna be alright...' Well, he didn't really sing, but most i-pods generally do!

On the issue of corporate governance, one event that kinda tainted India's image in the world in terms of governance is the Satyam debacle. Why? Again, one man. One man decided to use funds of a listed public company to invest in his son's real estate enterprise. In other words, he wanted to run a family business using shareholders' money. The effect - snowballing scrutiny into corporate governance, and a 'Yikes, Indians can do this too????' question from foreign investors who look upon India as a key player in IT services. In a way the hullabaloo that followed the crappy decision of Mr Raju of Satyam bodes well for India, since it shows that the shareholder is still king, and that the company owner is in every way answerable to the millions of investors. Perhaps the democratic government can learn a thing or two about accountability from this model followed by corporate India.

On the one-man issue, we've seen a case where stock prices are dictated by one man. One man's well-being, or one man's folly. Look at Israel - Hamas. Soon after the head of Hamas was killed, the outfit went on to say that the struggle would endure, since leaders had been groomed along the echelons. Similar is the fear about all terrorist organizations. Just removing the head, does not decapitate the whole outfit. They grow another head much like a salamander or a starfish. Scary thought? Yes indeed. Although it is a practice followed for nefarious purposes, as a concept, perhaps corporate India and indeed the corporate world can think about corporate governance and leadership development along the lines of such a model. What say?

Terrorism in India - It is a management case study

2008 was a bloody year. Literally as well. Carnage everywhere. The mayhem in Iraq and Afghanistan continued undeterred, while the world continued to burn elsewhere as well. South Ossetia, DR Congo, Zimbabwe, Pakistan, Tibet, Israel, Sri Lanka, India (all over - Jaipur, Delhi, Mumbai, Guwahati) and now Palestine. The color of the flame however was the same - a violent yellow, with splashes of blood red everywhere.

I wrote a lot during the Mumbai carnage. A lot is an understatement. Well, when your manager asks you and your team to please work from home (since people are their most valuable capital), TV is on a terrorism overdrive, Gtalk conversations revolve only around the 'dastardly' acts of violence inflicted on Maximum city, anxious clients send emails asking us to be safe and please not worry about work deadlines and going out is ruled out, since for family, we are the only one of the kind, annnnnd, the only tool at your disposal to vent out the thoughts stacked up inside your mind is something.blogspot.com, you, tend to write. And write I did, like here.

The thoughts ranged from anger to frustration to outrageously enraged to plain stumped. Now that the dust has settled and the Mumbai terror attacks have formed the topic of discussion for Indian diplomats and foreign ones with an Indian interest, all that is left is retrospection and a push for urgent action.

Why do we need immediate action after Mumbai? India shining. Over the last decade, India was a glorious investment destination for people across the world. As recession began to hit the big boys of the world economy, many looked to the east for support. India-China. But soon, the hyphenation with Pakistan (India-Pakistan, a dreaded term from which India had managed to slowly but surely move away), sort of managed to preponderate over the hyphenation with China. I had an opportunity to speak to a person who invests in real estate in the US. With the real estate bubble bursting with disastrous effects in the US, he looked to invest in Indian housing. But one statement he made was, 'How can India expect investment in the country when the country's own peaceful existence is perennially threatened?' Ouch! On that score, our nefarious neighbors with hostile 'non-state actors' seem to have dealt a massive blow. A recent article in the economist underlined this fact, and this sorry event has effectively dented international confidence in India. Do I feel bad? Yes. Can I blame the international community? No. How many invest in Rwanda? Or Zimbabwe? Or Sudan? Unless India gets serious about internal security, we cannot aspire to become the world leaders, torch-bearers who can and will bring the world out of economic gloom. Also, India has historically been a patient nation. We have put up with multiple insurgencies by our neighbors (a whole post was dedicated to our 'honorable neighbors' here). But this time, with the terror attack reaching horrendously evil limits, everyone is scared. What happened in Mumbai can happen anywhere. Suspicion will abound, since every commuter with a big bag sitting next to me in a subway, will be looked at with a million thoughts and images in my mind. People are scared. Real scared. They are more disgusted with the failing system that failed to avert this attack, than with the terrorists.

What kind of action can be taken? US has imposed a 46 year trade embargo on Cuba, because Castro overthrew the America-backed dictator Batista. Can the world community do the same to Pak? Will that help? Well, for a country that has always been sending defence ammunition meant for a war on terror, to the perpetrators of terror, how long will it take to find another means of propping up the already failed economy? Like the filmy dialogues by our Hindi movie villains - 'I wasn't born a criminal, Samaj ne mujhe aise banaya', a trade embargo could perhaps send Pakistan further into the clutches of terror. When Mumbai happened, the youth urged for war. A surgical war even. That was the anger translated into a wish for immediate action. Look at Israel and Hamas. I for one feel that the Israel-Hamas conflict is akin to India-Pak. Nefarious, meddling neighbors, perpetrators of crime and terror, disturbing peace in the region, making the everyday man worry whether he'd be alive the next day. Too many similarities right? The recent conflict - Israel has launched an all out war against Hamas. Is Israel really to blame? Granted Hamas was elected to power in Gaza. But the elected government had resorted to trouble making. Rockets in the backyard everyday, killing a handful of Israelis almost daily. Israel, has historically never been a calm and patient country. But nevertheless they put up with the shelling and killing for a while. At one point, like the protagonist of a Premchand novel, one would want to just pick up a stick and hit back. And hit they did, BIG TIME! But what happens? A personal evil agenda, of a handful of terrorists (in this case Hamas) who operate from the cushy comforts of their safe havens kills hundreds. The retaliatory effect is disastrous. Is war, no matter how surgical, an answer? I think, No. Terror is a new enemy, and we need to think out of the box to cure this canker, before the 'eye for an eye' strategy renders the world blind.

India has chosen the diplomatic route against Pakistan. Piling pressure through US, UK, UN. This pressure has so far only resulted in eyewash. There are hints of imminent war. Only hints. Since only God knows the effect of war between two nuclear powered nations in a precarious place like the Asian sub-continent, whose Middle eastern part has been ravaged by war and violence for ages. But can Satyagraha help against barbarians? I don't know. I, for one have always felt that Gandhiji won independence for India, because the British were still civil and cultured. But this time, the enemy is evil, and barbaric. Another kind of a fight is needed here.

But one thing we ought to notice in this whole carnage story, is the fact that only Israel or USA or Russia can actually launch an all out offensive against another country. Why? They have the political and economic power in whatever way that may be, to face the world after their 'job' is done. So, like I'd written in one of my earlier posts, there are only two things that we can do, in the immediate future. Beef up internal security - cameras, spot checks, tight intelligence, civilian alertness, breed suspicion. Yup! Breed suspicion. It's better to be suspicious, than dead! Second, build the economy and the political system to a level of strength, so strong, that like the world fears action against Israel or China, for the numerous ills they may harbor, we Indians become a true force to reckon with, and we don't need the intercession of any other country into our 'personal affairs'.

Perhaps what happened in Mumbai, can actually influence the thinking millions in India and across the world to perhaps put on their thinking caps and find a solution that could really work and in Pranab Mukherjee's words produce 'tangible results'... What say?

2008 : The year that was

It is almost new year and for many, this is a year better, best forgotten. The world has been hit by one of the worst ever economic crises since decades, with no clear sight in view, about when the mood will begin to be bullish again. However, this has been a year that can actually be remembered for some good reasons as well. So while we do indeed have the bad news, we do have the good news as well.

The start of the year, for Indians began with a slump in GDP. Perhaps we should have taken a hint from that piece of news, but we were quick to reassure all and sundry that everything was fine. The months went on, and as America sneezed, everyone in Asia began slowly catching the bug.

Britney Spears went through an awful year swinging in and out of insanity.

The American Presidential election became prime time watch for people all over the world. Lipstick, pit bulls, war veterans and the bridge to nowhere became commonplace topics to talk about.

The Indian embassy in Afghanistan was bombed and 44 were killed and another 140 innocent civilians were injured. Terrorism still showed that it had the upper hand in the world.

Madonna divorced Guy Ritchie and paid a fortune in settlements!

The phenomenon called the Olympics happened. In China. People had finally awakened to China. The arrangement and the organization was phenomenal. The gross disregard for human rights was totally condoned. But this was China. How could anyone care?!? India as usual went in with a teeny tiny contingent, in gross discord. Not even a uniform dress code!

But who cared about Ms Mirza? We won one GOLD in shooting courtesy Abhinav Bindra and two bronzes. Boxing and wrestling - Vijender Kumar and Sushil Kumar, respectively. Consistency was missing, since Rajvardhan Rathore, failed to impress.

Consistency showed elsewhere, since Nadal won French open and an Olympic Gold. AND ALSO WIMBLEDON. In matches that can thrill generations of YouTube watchers, history was written. Federer displayed chinks in his armor, but still went on to win the doubles gold at the Olympics.

The Marriott in Islamabad was bombed my suspected Al Qaeda operatives with a truckload of RDX, killing foreign nationals, and destroying the building. PoK was shook by a massive earthquake that killed thousands. Zardari became President. (I don't know whether I can say elected, since democracy and Pakistan don't sound good together). Musharraf had to run for his life, (expected).

THE DARK KNIGHT RELEASED. A cult film by any standards, setting a new threshold for villainy in the late great Heath Ledger. A terribly underrated actor, who starred in Brokeback mountain and A Knight's tale, The Joker was a new high for him. Unfortunately another form of going high, killed him, and the world lost a fine actor.

Barack Obama became President. Racial prejudices went to the dogs. Analysts, bloggers, people all wondered whether America would be able to take a wise well-informed decision, and no one was ready to bet either way. The economy by election day was teetering on the edge and no one knew which way the scales would tip.

Michael Jackson became Mikaeel.

The world lost Lehman Brothers. Merill Lynch went to Bank of America. Bear Stearns was gobbled up by JPMC. AIG almost went kaput, only to be rescued by the government.700 billion dollars was earmarked as a TARP bailout fund. We still don't know how that will be spent. American auto manufacturers are now paying the price for not having been prudent by going green and small. They now beseech the American Congress to bail them out.

Lewis Hamilton won the F1 World Championship. I don't want to speak much on that, since I still feel that was unfair.

Mumbai was attacked by terrorists who actually ran amok wielding AK-47 weapons and killing innocent people in a train station, and in key five star hotels in Mumbai's posh South Mumbai area. This set into action a whole host of events right from restructuring by the government to key steps to up the security in the country.

Vishwanathan Anand retained the World Champion crown. Yay!!!

Thwarting appeals by separatists to boycott elections, a 62% voter turnout in J&K showed the triumph of democracy. I kinda feel proud of that. In spite of all kinds of nonsense, Indians still have the power to elect their own leaders.

Israelis launched an all out yet retaliatory attack on Hamas in the Gaza strip, in one of the bloodiest attacks of all time.

Ugandan rebels are being fatally tackled in DR Congo. Zimbabwe is going through an economic breakdown with a terrible attack of cholera debilitating the country. Almost all of Africa is going through a humanitarian crisis.

A student was accidentally shot dead by police in Greece, and riots are still on in Athens. I guess the simmering dissent just needed one tiny burst of the bubble to just erupt like a volcano. A youth was killed in Bangalore by army personnel in a case of mistaken identity. Nothing happened.

India beat the Brits in the test series that comprised an almost lost test match as well. Australia lost the Boxing Day test to South Africa in a thrilling encounter.

Bittersweet year? I guess. A great year for Obama, sport in general, and a terrible year for the economy, Africa, Mumbai (thanks to BSE and the terror attacks). How will next year be? Who knows! But what else can we do, except look to the new year with hope and anticipation for a new beginning. Happy New Year everyone......

Boxing Week 2008

It's Boxing Week. Well, all along, I thought that Boxing Day (day after Christmas) held some historical significance in terms of the sport called Boxing, and hence is celebrated as such! Only later did I learn that Boxing day is when Christmas presents are to be unopened and kept / exchanged / returned. The 'boxes' represent the 'Boxing day'. Simple? Oh yeah! This whole week is Boxing week. All malls, shopping places run deals, good deals. Loads of discounts, since this week traditionally invites shoppers in hordes! There have been stories about stampedes outside malls on Boxing day, that apparently even killed a store employee! Now, people spend a lot before Christmas. They spend to buy presents for everyone. And Boxing week is like a bonanza, more like a ritualistic shopping expedition, as a means to add cheer to the white holidays. Basically, Boxing week is like shopping week, in a greater part of the Western World.

This year though, the story has been slightly different. Given the economic slowdown, analysts, economists, retailers have all been speculating on how the mood would be this year. Given the fact that people need to spend in order to boost the economy, the economy watchdogs were actually 'watching'. They wanted to see where the consumer would go, whether he would head to the shop or whether he would hide money under the mattresses. To lure customers almost all major shops advertised 50 - 70% discounts. They advertised freebies, and what not! Just to make the consumer come out and spend.

This time, with loads of people being laid off, mounting debt, lack of free funds to spend coupled with a general sense of uncertainty over where the economy is heading and when the bear would hibernate giving way to the bull, people were not really in a mood to splurge. No stampedes at Wal-Mart, only marginal queues. To make the crowds look bigger, some cash registers were closed off. Many people said that they had exhausted their budgets buying Christmas presents and so, did not wish to spend more in Boxing week. Some were prudent to keep aside buying a much wanted item like a pair of shoes or a bag for Boxing week, just because of the favorable deals. But that's it. No splurge shopping. Some were restrained because they did not feel right shopping when so many people were being laid off or were facing the brunt of the economic slowdown. The only contrasting report however was about Amazon reporting 73 deals per second on day 2 of Boxing week. Heartening to know. But a conspiracy theorist inside me asks whether this was a media byte to boost consumer confidence.

While some actually took pains to go and buy something, some others chose to window shop, for sake of the ritual. So Boxing Day actually took on the significance I first thought it to hold - Boxing... Only this time, fighting the urge to splurge in favor of a bit of prudence......

Of Christmas messages

Lots of people share messages during Christmas. Most of them are simple - Merry Christmas, Ho Ho Ho, whatever. But the message that many people wait for and look forward to hearing are the messages by world leaders.

This year too, leaders sent out messages. These were global messages, to be seen by the world as such. While the general mood underlying the messages was all to do with the economic downturn and how one must brace oneself for the worst, there were the sweeping messages (Pope) pointed messages (Canadian PM) and the doubted-intent messages ( Iranian President).

Perplexed? This post is my take on the messages along with some thoughts on the same... So here goes....

The Pope's message in a summary is here (courtesy - API). He has pointed out the key issues facing different nations of the world and has urged peace and solidarity amongst all people. Yup! the Pope has to show oneness with the world and tell people across the world - how to live. So the speech fits that theme.

Along similar lines, the Queen spoke from the Music Room of the Buckingham palace. In sharp contrast to the messages in the past, this year the message was more guarded, and clearly more concerned about the global economic fallout. She mirrored the sentiments of her subjects, when she said that occurrences across the world could have a serious impact back home, which it was. Her speech in a gist - here.

The Canadian PM, however, wanted to literally 'thank his blessings' (he could be ousted next month!!!), by urging all fellow Canadians to do the same. The Canadian dollar is still strong today as compared to the US Dollar. But the auto companies closing operations and laying off people is slowly becoming a reality in Canada as well, since Ontario houses the North American factories of these firms. Again the tone is one of guarded caution, albeit with a little positive touch. The gist is here.

The outgoing American President and the President-elect wished everyone a merry Christmas, while remembering their soldiers who were out fighting in alien lands! Why did you send them sir? Iraq? Ahem. Less said the better.

And finally, the Iranian President. In spite of loads of searching, I couldn't find all of the text of the said address. But the one quote that is spreading all over the universe is this - "If Christ were on earth today, undoubtedly he would hoist the banner of justice and love for humanity to oppose warmongers, occupiers, terrorists and bullies the world over," Ahmadinejad said, according to the English translation of the Farsi-language speech.

Commentary on blogs on the Iranian address point out that this address is hypocritical, eyewash, playing to the gallery and what not! The presumption - that the 'warmongers' and bullies, refer to US and the 'Western World'. I don't really say that Iran is totally a benign nation - for that matter, no one in this world can be called innocuous. But if people are reading between the lines and making presumptions of assumed innuendos - I remembered the Slovenian proverb 'Speak the truth, but leave immediately after'. I also remembered what my teacher once said, " The deepest insecurity or point of guilt is that which tends to be covered up and aggressively defended.....

In summary - the themes were all similar - economy and terrorism. Some were general, as expected, while some, were pointed and some others - well, I don't know.... Merry Christmas everyone....

How about a summary???

Freak thought - How about a summary of sorts? 'This week in the world' and 'This week on the lilac avenue' ?

Yet another adhoc resolution. But let me see how well I can keep the resolution. So here goes....

Well, a lot less happens on the Lilac Avenue than happens in the world. So Lilac Avenue, goes first.

A reflective Monday - where I spoke about how an imminent change can put things in an all new perspective under MOODY MONDAY, here

Then came a funny anecdote on tantrums here

And then, the relevance and importance of first aid, in a rather dramatic post titled ' It always is personal'.

On My workplace blog - Camaraderie at work.... here.

And now, THE WORLD...
India's Parvathy Omanakuttan came first runner up to Russia's Ksenia Sukhinova in a rather lackluster performance! In a gnarled stumbling wrong answer to a question ' describe your adventures around Joburg', our desi hadddd to quote Gandhiji, for God knows what reason! With such a start, the week must be fun!!

INDIA WON AN ALMOST - LOST CRICKET TEST!!! Historic, momentous, crucial, since India needed a shot in the arm, post the recent terror attacks.

Bush was in Iraq, and a journo threw his shoes at him. Oh yeah, not one, but both shoes. Thereafter, an Egyptian man offered him his daughter in marriage, and the woman was agreeable. There were murmurs of him having broken multiple bones, rumors of him asking for a pardon and what not. Eventually - it ended up being what it was supposed to be - a media circus!

Bernard Madoff was accused of a $50 Billion fraud. He was apparently apprehended before, and then let off. In what looks like a Firangi version of our own Harshad Mehta, he smoothly sauntered away with the said amount and he is being held under part-time house arrest or some such thing! It's like the timing is laudable, given that when the whole world is reeling under economic strife, there comes news of yet another - scam!!

Bailout galore - American auto industry - No one paid heed when Japan ventured into the fuel-efficient small car segment. They were instead pooh poohed! America held on to the juggernauts that could be driven at efficiencies like 2 kilometers to a litre and so on! Innovation in American automobiles? Was unheard of - still is! As the gas prices and pink slips soared, people threw away any plans of buying a car. Wham! The industry needed to be rescued from implosion. Canada stepped in as well to rescue, since most American car manufacturers have plants around Ontario. American Auto industry implosion means - Pink slips in Canada. Dole and what not! RESCUE!!!!!

Ah and now the world's favorite topic - terror and ping pong Pakistan. Civilian government said JeM chief was under house arrest. Foreign minister said yes, house arrest. Then later he said, nope! At large. Some alleged key leaders of LeT were let off one day, and when pressure mounted on the Pakis to reign in the miscreants, a finger was pointed at India's violation of their airspace!!! When Zardari, when addressing a press conference with Prime Minister Brown had said that the alleged intrusion was a technical one, while an Indian plane took a turn near the India-Pak border. What will happen tomorrow? I DON'T KNOW, and I guess neither does God!

India passed the Unlawful Activities Prevention Act, almost unanimously, but not before Minister for Minority affairs attempted to scar the delicate fabric of inter-religious ties by suggesting a weird conspiracy theory. The NIA has been commissioned.

The Taj and the Trident opened their doors to guests today (21st December) for the first time after the terror attacks.

Theoneste Bagosora was sentenced to life in prison for the Rwandan Genocide.

That's it guys. I may have missed some events, but I am still learning... Cheers, and see you tomorrow!

Green at the time of Global Warming....

Oh yeah! Global warming is a reality! News and the works go on and on about melting glaciers, polar fissures and so on. Sea levels are rising, and just the other day, there was a mention about tremendous water levels in Venice!!!!!

Can't blame anybody! The heat is everywhere. Global economic meltdown, Terrorism, explosions, violence, anger! The effect has to find an expression somewhere. And so the environment is taking the hit, I mean heat!

Emphasis is moving to greener energy and ecological conservation. One analyst had remarked that reformed banking and manufacturing as also sops for internal investment helped the west tide over the Great Depression. Innovation, and new ideas helped break the gloom loop. And now, in this molten economy, the analyst noted, the world looks to the West for innovation, for something new to tag on to. And the answer may lie in the 'Green Revolution' of a new kind.

Obama spoke of revolutionizing government buildings the other day and making them more energy efficient, more green. And now, British Airways has a section at the bottom of the booking page - Offset the carbon emissions for these flights
You can help minimise the impact of your flying by offsetting your carbon emissions. The total carbon emissions from your itinerary are X tonnes and the cost of offsetting your emissions is Y.
Your money will go towards UN certified emission reduction projects.
* Please be aware that once your carbon offset contribution is paid, it cannot be refunded.

Go Green???? Indeed!!

Pakistan - our worthy neighbors

When was the last time we trusted Pakistan and they lived up to the trust? I can't remember a single instance. Lies, deceit and betrayal are almost second nature to the way that country deals with India. Yet Pakistan is an honorable nation. Every time India extended the olive branch, the tree was chopped down. And we have lost precious Jawans and army personnel while trying to counter the Pakistanis. Yet Pakistan is an honorable nation.

We signed the Lahore bus pact and sent a friendly bus to Lahore. Then PM Vajpayee travelled to Pakistan. Musharraf visited India and took pictures with his wife against the backdrop of the Taj, and all the while silently a sinister terror plot was being hatched against India. Yet Pakistan is an honorable nation. Kargil. Infiltrators entered in hordes, captured major portions of Kashmir and jeopardized our sovereignty and all the while, we were believing the friendly gestures of our neighbors. Yet Pakistan is an honorable nation. We lost young men in the line of fire, and the infiltration was supported entirely by the Pakistani army. Yet Pakistan is an honorable nation.

Flight IC 814 was hijacked. A passenger was murdered. The hijackers demanded the release of Maulana Masood Azhar - a captured dreaded Pakistani terrorist. India negotiated, and finally gave in to the demands. Masood Azhar was a free man. He returned to Pakistan and started off with inflamed speeches against India, declaring Jihad on India. Yet Pakistan is an honorable nation. He floated the terrorist outfit Jaish-e-Mohammad which was responsible for the attacks on India's Parliament house in 2004. The terrorists were completely supported and funded by Pakistan. India's prestige and honor was challenged once again by Pakistan. Again we lost men to the Pakistani terrorists. Yet Pakistan is an honorable nation.

Almost everyday families are attacked in Kashmir. Kashmiri Pandits have fled Srinagar ages ago and started life from scratch elsewhere, though they are free by constitutional rights to live in peace wherever they wish to in the country. Women raped, children killed indiscriminately by Pakistani terrorists. Yet Pakistan is an honorable nation. Impressionable Kashmiri youths are brainwashed on Pakistani training grounds and converted into terrorists - Fidayeen - suicide attackers. Yet Pakistan is an honorable nation.

Mumbai was rocked by serial blasts in 1993. The perpetrators are hiding in Pakistan -say intelligence sources. Dawood Ibrahim, wanted for scores of underworld and terrorist activities in India, is in Pakistan - say intelligence sources. Yet Pakistan is an honorable nation. Bomb blasts near the Taj Hotel in 2003, bomb blasts in trains in 2006 led to mass massacre of Indians. The attacks were all linked to Pakistani terrorists. Yet Pakistan is an honorable nation.

The current attacks on Mumbai - at the Taj, the Oberoi-Trident and Nariman house, sources claim, carry a Pakistani footprint. Pakistan vociferously denies any involvement. Because after all, Pakistan is an honorable nation.

The PM has asked the chief of the ISI to come to India to offer 'intelligence'. Maybe the welcome party must include the widows of ATS chief Hemant Karkare, top cops Vijay Salaskar and Ashok Kamte and perhaps the loved ones of all those who have lost their lives in this attack. Since Pakistan is an honorable nation. And such a visit deserves such honor.....

Is there peace anywhere? Or are there only pieces left to be picked up?

Hostages in The Taj, the Oberoi Trident and Nariman House in Mumbai. Gunfire and explosions at CST station, on roads and a hospital. The terror shows no signs of subsiding yet.

In Sri Lanka, fresh fights erupt between the government and the LTTE. More casualties. The situation hasn't calmed down in ages.

In DR Congo, historically animous Hutus and Tutsis are fighting again. God knows the numbers who will turn/die refugees.

Fresh attacks and fights in volatile Iraq. That place has not been peaceful in centuries!

Russia and Georgia are on a cold war over South Ossetia. When the cold war could get heated - who knows.

Iran conducted an exhibition of its nuclear prowess, while asserting that the technology is for civilian purposes only. Really? Who knows.

Inflation is terrrrrrrrrrribly high in Zimbabwe. The economy is still in shambles.

Kenya is still fighting over the botched elections.

American Economy is into recession.

Japan is already in recession - AGAIN.

And somewhere, Billy Joel sings....

We didn't start the fire
It was always burning
Since the world's been turning
We didn't start the fire
No we didn't light it
But we tried to fight it

Bail out to sail out....How much is too much?

Help!! SOS!!! Bail me out! These words resound all over the place. A month ago, the biggies of Investment Banking - Bear Stearns was the first to buckle. Then, Lehman, Merill Lynch and JP Morgan, saw the red. Black rock became DSP Black Rock. AIG was 'rescued'. Lehman became 'Nomura'. It was a massive bloodbath - so to say, with other global biggies clamoring to devour the spoils. There were talks of people wanting to purchase the hardware assets of Lehman - the servers, routers, cables, et al. Understandable, since IB needs a robust infrastructure, and so decidedly these 'assets' would fetch a lot more. Clearly that was true, since all said and done, these were tangible assets, unlike the banks' prized high priced assets called Collateralized Debt Obligation instruments - which actually brought about the mayhem. The economy showed signs of collapse, recession - of global proportions. The pillars of economic boom crumbled like a pack of cards. And before one could blink, the symbols of growth and economic prosperity were gone! At the threshold of B school, people dream of a job at Lehman or JPMC. And now, those entities are gone without a trace. The feeling is akin to that felt by one who flew out of NY on Sept 10, 2001 and came back on Sept 12, 2001.

So the banks are down and out, people are seeing the value of their real estate assets plummeting earthwards, the stock markets that hold a greater part of the Western World's hard earned money are going through negative uncharted territory, people are losing jobs, uncertainty prevails. Human nature - when it is uncertain whether I would have a job tomorrow, I wouldn't wish to go buy Jimmy Choos! Oh, well, I may wish, but I wouldn't get myself to go buy em! So no one wants to invest in investment bank funds and portfolios. They demand capital protection. They do not want 'negative' ROI - at least. So, when no one buys, who buys? Uncle SAM!!! The result - bailout packages for AIG, nationalization of Freddie Mac and Fannie Mae, 700 Billion dollars worth of taxpayers' money forms the Herculean backbone against which the crumbling pillars of the American (I'd rather say Western - Barclays was rescued as well) economy. Citigroup is the newest entrant into the 'Bhikmangoo' group, screaming, "Rescue me, I messed up!!" At the end of it all, it seems like Lehman and JPMC were not favored! But how long can the government condone 'overdrives', mismanagement and a gross lack of prudence?

Incidentally I seem to have overshot my credit card limit while I was busy being fascinated (read enchanted) by Louis Vuitton, and Jimmy Choo. Can the government bail me out as well? Please?