Saturday, January 30, 2010

Vision for India

"India is an old country but an young nation.I am young and I,too,have a dream.I dream of India strong ,independent self reliant and in the front rank of the nations of the world,in the service of mankind."
-Jawaharlal Nehru vision for India

Wednesday, January 27, 2010

Person of the year 2009 : Ben Bernanke


"I'm not happy with where we are, but it's a lot better than where we could be." says Ben. Being a Chairman to a central finance institution is not a mundane task to handle that to bein a chairman of fed to a nation that dictates the global economy is certainly a risky job.
One who reads his interview can easily make out that he is very quiet, very serious, very, very capable. A student of harvard and mainly a economics professor who is from the main street says the number 6,50,000 of unemployment speaks not jus the number but the number of families who lost their livelihood.He saysTo understand geology, he says, study earthquakes; to understand the economy, study the Depression. No wonder he is chosen as the person of the year 2009;
He bein highly criticised for his policies, he is the first fed chairman to drop interest rates as low as they can
his practices have got the global reach
Opened up new credit channels. from his research on the great depression he says that the fed policies had made the situattion worse by tightening the monetary policy. He tried to implement the best practices he can to help protect the economy bing collapsed. The growth may be anemic sbut it is not negative. He tried to clarify and be more transparent to people his practises through open interviews which is rarely doen by fed chairman.Yet ,he is bein highly criticised for bialin out the companies of wall street for their greedy bets at such high cost and inability to reduce the unemployment rate . But he has to communicate the stringent rules to be followed by the financial institutions to prevent such catastrophic effects in future. Now , his second term to be chairman is bein highly opposed by the public but i think takin any other person in to his shoes wud only make the things worse.