Praxeology: My Reflexions on India

Recently prime minister mr. manmohan singh said that, 'India cannot expect "outside help"  on a scale on which can see the country through its difficulties'. I am not sure what kind of "outside help" prime minister was expecting but after looking at the immediate steps which his government is gong to take to supposedly revive the sagging Indian economy, it becomes clear that those steps are going to result in more disaster and more troubles for all of us. Instead of making things better, these steps will further worsen the problems and put the economy under more heavy stress. Let us take a look at what these steps are and how they are going to do further damage to already slowing Indian economy. While returning from Rio+20 (phony) climate summit, manmohan singh said, "we must plan our economy in such a manner that we cannot expect outside help on a scale which can see us through our difficulties ". Carefully read the emphasized word: plan our ec...

Recently Indian finance minister Pranab Mukherjee, during Zee television award function, said that there is a "need to dissuade people from investing in gold " (see here ). Finance minister is obviously lying to his teeth. He is clearly trying to misguide the innocent public for his own political benefits. Inept finance minister is ignorant of basic monetary theory, just like other gold disparaging mainstream economists like the chairman of US federal reserve, Ben Bernanke. In his interview he revealed his total cluelessness regarding the true nature of money and many other things related with economics. Below I present his statements with my critique in italics.  He said, "there is a need to spread financial literacy to encourage people to invest in market instruments" People are already literate about their finances in this part of the world Mr. FM and that is the reason why they are buying Gold and Silver to protect their wealth against raging inflation which...