Praxeology: My Reflexions on India

Inflation is killing the common man and the Indian government and RBI is hell bent on debasing the currency. This debasement is a type of inflation which government is taking resort to to finance its boondoggles. The evidences of this inflation which I am presenting here are of Indian currency coins. The pictures clearly reveal the deteriorating quality of these coins because of government debasement. Since years they are doing this, but recently the speed of debasement has increased rapidly. So without any further delay I present the evidences. The first picture presents 1 rupee coins. First 1 rupee coin (all coins described from the left hand side) is from year 1998. This coin had at least some fine print work. When you compare it with others, you can at least say that it is bit heavy and had better print work on it. Next coin is of year 2000. Next to that is year 2008 coin. Just in 10 years time the 1 rupee coin has lost all its quality of weight and fine print. This coin is very ...

Recent economic troubles of Kingfisher Airlines has brought in focus many important issues re how the centrally planned Indian economy is faltering, how these so-called business tycoons like Vijay Mallaya are a disgrace, and how government is always helping their cronies in the business world and elsewhere. As I have noted many times in the past, the whole story of emerging Indian economy is bunkum. Sure some people are doing extra ordinary hard work and producing the economic goods which every other lazy bums like politicians, bureaucrats, government workers, and other such parasite class of society are enjoying shamelessly. But, notwithstanding that, whatever phony growth figures Indian officials are reporting are just figures on the paper; mostly a result of Keynesian money printing programs of Indian central bank RBI. Indian economy is a classic example of an artificially (paper) inflated boom, which is now busting e.g., growth figures are now revised downward , industrial product...

Inflation in India is edging up steadily and stubbornly. It is not abating a bit, and people are getting frustrated. Such relentless rise in the prices of goods and services is now testing the patience and nerves of the Indian populace. Amidst all these hardships, the politicians - who are in charge of policy making - are evading any serious discussion of inflation and its causes. Not only they are not serious, but their mind numbing and irresponsible statements regarding the causes of inflation are now becoming very frustrating, especially for someone who knows economics. I can understand the ignorant statements of finance minister Pranab Mukherjee and Mr. Advani , but it is hard to fathom what is wrong with prime minister Manmohan Singh who is an academic economist having a PhD degree from Oxford! A former economics teacher of famous Delhi School of Economics seems to have forgotten his economics. After the recent hike in petrol prices by the government owned petrol companies (PSU...

The American economy and society both are crumbling. European Union [sic] is in tatters. Majority of western world countries are on the brink of a disaster or as Doug Casey says, have entered in an eye of the hurricane. Just like the Middle Eastern countries waves of angry protests are filling the streets of Greece, Italy, Spain, UK, USA and many other occidental countries. The recent Wall Street Protest movement in America is symbolized by many as peoples' anger against Capitalism or the 1%, who are painted as wicked capitalist pigs! Many writers and so-called intellectuals are claiming that this episode in Western world is an evidence of the failure of Capitalism e.g., see here and here . Tragically, many OWS protestors are demanding Socialism ! So, is this finacial crisis and now sovereign debt default threats a wrongdoing of Capitalism? Is Capitalism responsible for peoples' misery? What is actually Capitalism? Do these writers  - who attack Capitalism - even understand ...