Serendipity & Sagacity

Cousin, friend, Hindutva

noreply@blogger.com (Banuchandar) — Wed, 24 Jun 2009 06:47:00 +0000

In March when I was campaigning for the BJP, I went to my aunt’s place in Delhi for dinner. In the course of our conversation, my cousin, a bright economics student, suddenly said, “Anna, why do you campaign for the BJP, of all parties? They are stuck with the Mandir and don’t allow the country to move forward”. I responded with the age old refutes of any pro-BJP person and the conversation meandered towards more ‘useful’ topics.

In April, I was still with Advani when I met an old friend from my UNDP days. He was downright churlish and called BJP a bunch of ‘right wing loonies’ and the country would be better of without it.

Recently, my cousin liked the link I posted on facebook titled, ‘Bharatanatyam in the time of the Taliban’, a wonderful article from ‘The Hindu’ about a Hindu dance teacher in Islamabad who has been teaching Bharatanatyam to kids there from the days to Zia to the present Talibanic days.

My friend took the arduous trek to Amarnath.

The appreciation of these anti-BJP types on two manifestations of ‘Hindutva’ left me wondering. Is Hindutva something that is can be tapped for the sake of electoral contests? Should be tapped in the first place? If it is ‘tappable’ and should be tapped, why hasn’t it been done well?

There is a prevalent feeling in large sections of the Indian society that divisive politics of minority appeasement, which is un-Inidian, is practiced by the Congress. So there is a tappable bunch of Hindutva believers. Though Hindutva is in more in the socio-cultural space representing the ‘civilization ethos of our country’, the presence of threat to the ‘way of life’ through a political entity, necessitates tapping of Hindutva for political purposes. There is a need for an entity in the political arena to stand for the ‘Indian way’ and the BJP fills that space.

Answer to the last question quite ironically can be found in the expostulation of ‘Hindutva’ itself. While the need it to stand against the divisive politics of the Congress, some sections of the BJP took sides in the communal confrontation and deepened the divide. This was done for crass votes-power reasons. This was unacceptable to the moderate populace that believed in ‘Hindutva’ as unifying force.

So the party which espouses Hindutva, in the real sense of the word, has legitimate role in the Indian politics and society. With honest actions and clear explanation of the elegant theory of ‘Integral Humanism’ which was the mother of ‘Hindutva’, folks like my cousin and friend can be put in a position where they can make more educated choices.

Doing it the Indian way

noreply@blogger.com (Banuchandar) — Wed, 10 Jun 2009 19:14:00 +0000

In all BJP offices you will invariably find pictures of two gentlemen who are unfamiliar to first timers. They belonged mostly to the middle of the last century and did not become ministers at any level, leave alone prime ministers. What was in Dr. Syama Prasad Mookherjee and Pt. Deen Dayal Upadhyaya that stirred men for generations and held a political party that came to power in the fag end of the 20^th Century in such awe and respect? Did they promise economic freedom and material prosperity alone that would provide succor to the young nation? They had something more that appealed to the emotions that inspired people to keep ‘the flame’ alive for more than half a century. Ideology is not just that appeals to rational mind, it touches the heart and that arouses strong sense of pride.

Pandit Deen Dayal Upadhyay laid out the brilliant treatise of ‘Integral Humanism’ which provided customized guidance to the Indian society. It was accepted as the BJP’s guiding ideology – the one that was truly Indian. ‘Hindutva’ was a child of ‘Integral Humanism’ and the creator himself referred to it as ‘Bharatiyata’ or ‘Indianness.’ Terming ‘Hindutva’ to mean ‘Hindus only’ is as childish as saying that the venerable newspaper ‘The Hindu’ is pro- Hindu.

In the raging battle in BJP intelligentsia on whether to abandon ‘Hindutva’ or firm up ‘Hindutva’, no one has professed the real solution, which would be clarify the oft maligned word and give it the original intended meaning. In fact all the party leaders and thinkers should either individually or collectively come out with a paper, clearly expostulating the ideology. This would not only solidify the binding glue that is force majeure of the party, it would give clarity of thought to the party’s new leaders and also let the public know about what they mean when they say that.

As one of the political journalists put it, BJP suffers from ‘etymological obstacle’ with Hindutva. It is not just because people are narrowly interpreting it, but the leaders find it convenient to use the word to refer to theocratic nationalism to gain cheap votes. What Varun Gandhi practices is not Hindutva. It is communalism, thuggery and divisive politics which have no place in Pandit Updhyaya’s theory or the Hindu hearts. For the ‘Hindus only’ interpretation to dissolve, the leaders would do well to use ‘Hindutva’ and ‘Bharatiyata’ concurrently to explicate the actual meaning in public debates in the media.

As India gains economic prowess and stature, being Indian has become a matter of pride. Especially to the young generation that is unfettered with socialism or history, preaching ‘Indianness’ will be a saleable strategy. People will be able to subtly appreciate the nuances of ‘Hindutva’ that way which will be doing the greatest service to the ideology and the founder. ‘Indianness’ will not only woo Hindus, but all Indians – Muslims, Christians, OBCs included as the theory in itself is timeless.

Having rediscovered the essence of Hindutva, the party should improve up on it to suit the times we live in. It should integrate economic welfare, national prosperity and security in to Indianness. By amalgamating economic thought to the political and societal ideology BJP will have a 21^st Century theory to influence public debate.

The party should enter propaganda stage as soon as possible. It should clarify through media constantly and consistently on what they are and why people should support them. Politicians know well that societal changes are slow to come and people take time to assimilate new ideas. So BJP should not wait for the next elections to come out with the proposition and make it look like election time gimmickry.

For such rationalizing, the party needs to be open to critical enquiry. Just shunning uncomfortable arguments, even from people who have worked very hard and given it all, is pitiful. It should rid itself of the high school attitude and address issues strongly and confidently. At the same time impulsive supporters should empathize with the situation and get set in problem solving mode than going public with what is wrong. At the time of defeat more than the content of articles, the attitude of finger pointing is not helping anybody. The leaders should stand united and deliberate things on the way forward with true courage and team spirit.

Some analysts that refer to the right of centre position being open for the BJP to occupy do not appreciate the unique Indian position. Economically, India is in such a stage in its growth trajectory where pure right wing, pro-business policies will not make much political sense (case study – NREGA). In the religious sense given India’s diversity any pro-religion strategy is doomed to fail (case study – Election 2009). BJP can clearly position itself as a nationalist party.

When ideology merges with a strong organization and sleek execution the BJP can be rebuilt to suit modern India. The raw materials are there. It just takes sweat and guts to build it from here. When the strong organization is built fighting elections becomes easier and more efficient. When you are process oriented the results are bound to come.

We live in times of ‘India Rising’ and we need a party that does profess doing things the Indian way. Atalji’s immortal words, “Andhera chhatega, Suraj nikhalega, Kamal khilega” can definitely become a reality yet again.

Vande Mataram!

Voting lows

noreply@blogger.com (Banuchandar) — Wed, 06 May 2009 09:56:00 +0000

The voter turnout was disgusting in Mumbai. For obvious reasons, I expected it to be at least 65%. The apathetic 42% exposed the phony of the candle-light wavers’ emotional upheavals during post 26/11 TV drama. Cities have always been in the fore front of arousing national consciousness and are supposed to show leadership during crucial times, like it happened during the freedom movement. But the Mumbaikars chose the long weekend over the long road to revolution. When fellow countrymen braved bullets to caste their vote the bums of Bombay chose to warm their backsides.

This has stirred debates among the ‘conscious’ folks on making voting compulsory. Though I feel appalled when people choose not to vote, I feel the forcible voting through legal measures are not right. The role of the state is not to control people’s liberties. It has to provide a legal framework under which people go about doing their lives. It has no business asking the people of the state to behave in a particular way. The voters are the masters and they have to be ‘persuaded’ to vote. The state cannot force them to vote. Even having the ‘none of the above’ option and making voting compulsory is against the grain of liberalism. That will be a bully state then and not a liberal state.

So what is the solution? There is no way we are going to get 100% turnouts. Even if you have 25% people suffering from apathy or ideological aversion to democracy and voting, it should be made sure the rest are incentivized to vote. Good governance, intra party democracy, provision of decent candidates to choose from, governance structure reforms (will blog later about it), better amenities to voting public, making sure every voter has a voter card (I think legitimate voters not featuring in the list is a tragedy that shaves 5-10% points from the voting percentage), other simple logistical planning such as keeping elections is a more reasonable month of March or April, not having it close to a long weekend etc. are a few to name.

The whole paradigm shift from ‘giving the rags an opportunity to ink fingers’ to ‘servicing the voter’ is the key. Good governance is damn essential to keep democracy alive. The stage next to voter apathy is anti-national activity.

To ponder - S.Gurumurthy on Rediff

noreply@blogger.com (Banuchandar) — Mon, 20 Apr 2009 11:59:00 +0000

Will the current global recession make people look at globalisation from a different perspective?

Capitalism will undergo a lot of changes because today's capitalism is not what Adam Smith conceived or Karl Marx opposed. Today, capitalists are not the people who handle capital; it's the professionals. It's somebody else's money that the professionals are handling. So, it is not capitalist's capitalism; it's professionals' capitalism.

Now, a further change that has taken place is, it is not actual money, but virtual money that is being used. Imaginary money has been created by brain power and that is put to use as real power. That is the crisis today.

This kind of capitalism will be gone and the original capitalism where 'I look after my wealth' will come back again. That is good for the world. This other man's money I handle which has promoted the expenditure-driven market mechanism is a product of neo-capitalism.

Banking secrecy was considered one of the virtues of capitalism. Now, they call it an evil! This is the U-turn in one year!

In one of your earlier interviews, you told rediff.com that globalisation was not sustainable.

Who is talking about globalisation today? Today, it's just not environmentally, ecologically and culturally sustainable. I have always maintained that it was not economically sustainable, because it is contrary to the very meaning and definition of economics which is associated with frugality.

It is an executive class economics different from the economy class which brings out the difference between economics and excessiveness.

Moreover, globalisation disregards the existence of countries; they talk about a global society, global rule, global citizens, global villages, etc. It was an absolutely idealistic idiosyncrasy. That is gone.

Who is talking about the WTO? I told you long ago that the WTO will not last. If you create an artificial structure, it will not stand. People in different parts of the world have their own models of living; you cannot homogenise them, make them wear the same dress, eat the same food, or see the same cinema or have the same goals. This is what West-centric globalisation attempted, and got the first taste of it in the last four, five years.

Will people start thinking in terms of swadeshi?

People will be more conscious of their surroundings, their people, their family and their society first, and not the distant world.

Pic of the day

noreply@blogger.com (Banuchandar) — Sun, 19 Apr 2009 12:57:00 +0000

sic: Nat Geo

So much for a vote

noreply@blogger.com (Banuchandar) — Thu, 16 Apr 2009 07:35:00 +0000

As a first hand witness and participant in political parties wooing apathetic urban voters through SMS/Emails/Online Forums, the two pictures that appeared in 'The Hindu' came out as a slap on the face
RISKY VENTURE: Officials taking electronic voting machines to Killomkota, an interior area about 150 km from Visakhapatnam in Andhra Pradesh, on Wednesday. The area is a Maoist stronghold and to cover a distance of 10 km from Kodimamidi to Killomkota, it takes an hour and half due to the rough terrain and crossing of two streams. Maoists have called for poll boycott.

Flag March: Indo-Tibetan Border Police personnel taking out a flag march on the eve of the first phase of Lok Sabha elections in naxal-affected areas of Jehanabad constituency in Bihar on Thursday.

Reads of the day

noreply@blogger.com (Banuchandar) — Wed, 15 Apr 2009 11:35:00 +0000

Making reforms meaningful

Barbarians at the gate, now

The most important modern day cricketer

Against the wind

noreply@blogger.com (Banuchandar) — Tue, 14 Apr 2009 18:07:00 +0000

Bob Seger

the lyrics
http://www.lyricsfreak.com/b/bob+seger/against+the+wind_20021964.html

Breathers

noreply@blogger.com (Banuchandar) — Sun, 12 Apr 2009 13:07:00 +0000

to make us less cynic

to make us laugh

Identity crisis

noreply@blogger.com (Banuchandar) — Wed, 08 Apr 2009 16:33:00 +0000

The media and the history books together are screwing and skewing the knowledge and behavior of the youth. The other day, on NDTV the debate hosted by the vicious Nidhi Razdan which involved Kapil Sibal, Sudheendra Kulkarni, Nandita Das and one more lawyer threw ample proof of that, where questions (planted obviously and) asked were utterly stupid.

What the irresponsible media is doing is absolute adharma and it is sad that opinions are shaped by them daily. It is deepening identity crisis in India and probably couple of decades later we would have come to believe as truth what has not happened at all.

I am reading Amitav Ghosh's short stories. One of them is Dancing in Cambodia. Coincidentally this article appeared in NYT that shocked me. Children in Cambodia it seems don't want hear or know or believe about the Pol Pot killings!

Reads of the day

noreply@blogger.com (Banuchandar) — Tue, 07 Apr 2009 13:19:00 +0000

The End of Philosophy

Cloth for balls, shoes for stumps

Golden words

noreply@blogger.com (Banuchandar) — Tue, 31 Mar 2009 09:33:00 +0000

"Any sophisticated understanding of politics must not hold politicians up to empty standards of idealism or unachievable coherence. Politics is messy, full of quotidian compromises and deference to reality. The difference between a leader and an ordinary self-serving politician is the ends which their compromises serve. In the case of leaders, the compromises are with an eye to maintaining the integrity of the system as a whole; the ethic of responsibility is to negotiate the wellbeing of the system even if it entails personal compromises."

.. from Prathap Bhanu Mehta's piece in the Indian Express

Reads of the day

noreply@blogger.com (Banuchandar) — Mon, 30 Mar 2009 09:35:00 +0000

BJP’s Dangerous Game

Secularists aren't saints

Now, that is a classic

Sassy T

noreply@blogger.com (Banuchandar) — Sun, 29 Mar 2009 08:41:00 +0000

I was reading 'My Country, My Life' last night and found this

"Those who dream of politics as the bed of roses, or to suffer the dust and din of mass campaigns are not fit for the cause"

Shashi Tharoor was asked this

Are you familiar with the constituency?

I am indeed familiar with the constituency. The capital is not strange turf to me. I have been a frequent visitor to this city where my paternal uncle had settled for long. I nurture nostalgic memories about the streets getting cleaned by the rains during the 60s. Memories of those days when I visited the city along with my parents are fresh in my mind. Bombay and Thiruvananthapuram had perhaps the cleanest and tidiest streets. Now, both cities have changed considerably.

Election genius

noreply@blogger.com (Banuchandar) — Fri, 27 Mar 2009 06:54:00 +0000

The tea stall at Koodal Pudur in Madurai.

Jadula ‘Attar’ Narayana, an aspirant for the TDP ticket, believes applying attar on voters, will make them remember him and also vote for him

photos sic 'The Hindu'

Democratic Republic

noreply@blogger.com (Banuchandar) — Thu, 26 Mar 2009 18:01:00 +0000

I read this brilliant piece from Pragati.
But the idea of democracy becomes counter-productive when it is used against republicanism itself. If a republic is against the rule of men, and it represents the actualization of an implicit social contract—an understanding that men have certain inalienable rights—that not all majority decisions carry legitimacy.

These lines echoed with the following I read from "The Prisoner's Scrapbook"
The power of the Almighty Himself is limited in the sense that He cannot break His own laws and this very limitation constitutes his omnipotence. - Shankaracharya

Poverty points from The Hindu

noreply@blogger.com (Banuchandar) — Thu, 19 Mar 2009 18:22:00 +0000

HDI Oscars: slumdogs versus millionaires

53 individuals in a population of one billion held wealth equal to almost a third of their nation’s GDP at the time.

In the Index of 2007-08, India ranked a dismal 128. Now we’re at 132. That is our worst ever grade on the Index this decade. At rank 132, India also lags behind war-ravaged Congo, Botswana, and Bolivia.

A year into the economic reforms, India in 1992 ranked 121 among 160 nations then covered by the Index. Today, India is at 132 among 179 nations.

New anti-poverty strategies

Of great significance from the standpoint of reshaping poverty eradication strategies is that, of the reasons cited by respondents who have moved out of poverty, the top three were: non-agricultural individual initiatives such as finding a job, investing in business, and migration (60.1 per cent), individual initiative in agriculture (17.4 per cent), and asset accumulation (4.7 per cent). No less noteworthy are the three figuring at the bottom: assistance from non-government organisations (0.3 per cent); illegal activities (0.1 per cent); and lottery/luck (0.0 per cent).

As the study rightly observes, “charity-oriented and other paternalistic programmes may ease the pain for a few in the short run, but they are totally inadequate to lift entire nations or communities out of poverty.”

Independents all

noreply@blogger.com (Banuchandar) — Thu, 19 Mar 2009 10:46:00 +0000

This seems a really cool idea. My 'improved' take on it is as follows.

How about all the candidates contest as independents? They can profess allegiance to one/two/three pillars at the central govt level. They are not party men. They can freely criticize or embrace ideas and hence parties. Vote/oppose ideas in the parliament.

A progressive candidate with professed 'BJP like' ideologies that wants not to be associated with animals like Varun Gandhi will welcome this. Anyways in the Indian system most election action from fund raising to campaigning happens at the candidate/constituency level. He/she can ask similar well-known people to camapign for him based on ideas. A progressive candidate with professed 'BJP like' ideologies can request people who accept their ideas to campaign for them - e.g. Arun Shouire on economy, Narayana Murthy on IT, Kumble on sports policy etc.

This is the 'long tail' of politics. The real 2.0 of politics

Federalism

noreply@blogger.com (Banuchandar) — Thu, 19 Mar 2009 09:33:00 +0000

Is the rise of regional parties strengthening federalism by bring regional aspirations to the national agenda or weakening the structure by acting against the unifying force of national parties? Sadly, I think the latter is happening these days. I think the folks from the states act totally on self interest without giving two hoots about what will happen to the country. The idea of India I think is being tested.

I chanced to listen to Vairamuthu's lyrics in Roja yesterday. I felt wow and the spirit of federalism could not be spelled out in more poetic and more poignant way. BJP which shouts 'one country', should take this as their theme song

thamizha thamizha naaLai nam naaLae 
thamizha thamizha naadum nam naadae 

en veedu thaai tamil nadu endrae sollada
en naamam indian endrae endrum nillada


nilam maaRalaam kuNam ondru dhaan
idam maaRalaam nilam ondru dhaan
mozhi maaRalaam poruL ondru dhaan
kali maaRalaam kodi ondru dhaan
thisai maaRalaam nilam ondru dhaan
isai maaRalaam mozhi ondru dhaan
nam India motham ondru dhaan vaa...

thamizha thamizha kaNgaL kalangaadhey
vidiyum vidiyum uLLam mayangaadhey
thamizha thamizha kaNgaL kalangaadhey
vidiyum vidiyum uLLam mayangaadhey

unakkuLLae indhiya raththam undaa illaiya?
ondraana bharatham unnai kaakkum illaiya

thamizha thamizha naaLai nam naaLae 
thamizha thamizha naadum nam naadae

nam bharadham podhuvaanadhu
idhu vaervaiyaal uruvaanadhu

VC gyan

noreply@blogger.com (Banuchandar) — Wed, 18 Mar 2009 10:38:00 +0000

"Only in markets where inefficiencies of capital and information co-exist with underlying growth can someone expect to make above-market returns,”
http://blogs.bnet.com/mba/?p=439&tag=nl.e713

By the way, this is the best time to be a VC. Best entrepreneurship happens during the recession. Recession is by and large a signal to end the old ways and start the new ways. That is a signal where entrepreneurship thrives, where resources are freed up, expectations are moderated, the discipline starts. So you end up with an environment where entrepreneurs who start during this (period) are very disciplined. They are not fair weather entrepreneurs and for a VC, it is also better because the valuations are lower. For an entrepreneur, the environment is full of resources—he gets cheap land and people.

What happens is, slowdown affects people who are big and been there...30% on Rs5 crore is Rs1.5 crore, while 30% on a Rs500 crore revenue is Rs150 crore. So small guys won’t feel the slowdown.

http://www.livemint.com/2009/03/16222909/Recession-is-best-time-for-ent.html

Communist Manifesto

noreply@blogger.com (Banuchandar) — Tue, 17 Mar 2009 09:44:00 +0000

The CPI-M came up with their election manifesto couple of days ago. In terms of research they have done their job. True to communist principles of a welfare state they have proposed a slew of protectionist and Utopian measures. For people like me with other idealogies it should be looked at not just for deriding the illogical plans but to understand alternate view points

The fundamental premise of Communist parties is equality. If we all started from zero I would follow the Communist path to the book. But we have inherited inequality from the past. So the focus should be on how best to spread the prosperity around.

In other words the Communists focus on Gini Index alone. It does not matter if Gini is low and everyone is poor. But Gini should be taken with per capita income and a higher Gini with higher PCI is welcome. Thats where the commies falter.

This shows in their manifesto. In page 18 under 'industrial development' there is not sentence on promoting private investment. It is alwayas prohibiting this or reversing that. The only line with a semblance of progress is "Encouragement to the private sector to invest in manufacturing and services sectors; Incentives to the private sector to be linked to job creation and R&D efforts".

And how are they planning to fund the welfare programs? Page 15 says it under 'Resource Mobilization'

In order to mobilise resources to undertake the massive public spending
plans, the CPI (M) proposes steps to:

Effectively tax speculative capital gains by restoring Long-TermCapital Gains Tax and increasing Securities Transaction Tax
Halt further tax concessions to corporates; Launch a drive to unearthblack money, especially those stashed in Swiss Banks and other offshoretax havens
Increase wealth tax for the super rich; introduce inheritance tax
Plug the Mauritius route; Review Double Taxation AvoidanceAgreement with Mauritius and other countries

So the manifesto is impractical. As we have learned the painful way, it will increase poverty and thus is regressive. But if we are a super rich nation where fundamental needs are taken care of the principles of equity and welfare are something that will be attractive.

So I say finally," The manifesto for 2009 will take us back to 80s. But I partially understand where you come from". That does not say anything about me. :-)

What I read today

noreply@blogger.com (Banuchandar) — Sat, 14 Mar 2009 07:35:00 +0000

What is w(or)ng with casteism? What is w(ro)ng with casteism?!

noreply@blogger.com (Banuchandar) — Tue, 10 Mar 2009 08:51:00 +0000

Mayawati rode on the cast bandwagon and established herself as the prima donna in UP politics. But the people of her caste continue to remain poor (the government jobs for these folks increased though) and the infra of UP is terrible. Why would people give her a fourth chance; that too an overwhelming one? She built Ambedkar statues all over UP and the park in Lucknow honoring Dalit leaders is legendary for money splashing. Are these good enough to be voted again and again?

The urbane, English speaking folks that make a big deal about bad infra and job opportunities find this utterly confusing. They read Maslow's hierarchy of needs and find the phenomenon even more puzzling. Should not casteist considerations come to be valued lower than personal prosperity? Food should come before self esteem isn't it?

But for people who have been oppressed for ages find it liberating to see the 'dalit ki beti' rise up
to the apex. They don't mind the corruption and in fact contribute to her 'birthday parties' which has 100kg cakes! Maslow's pyramid to is too rational and is broken. Desi mindset values honor so highly that that honor killings are not uncommon. Politicians understand this psyche better. Urbane folks don't want to know this.

So is it alright for politicians do take advantage of such mindset and appeal to various castes? That question itself is a little stupid. Politicians are not Gods. They are just members of same
populace with similar whims. In fact, what is wrong with casteist groupings?

In my view, take the discrmination out and there is nothing wrong with casteism. Egalitarianism is the fundamental of a civilized society. We group ourselves on the work we do ( trade unions), on the language we speak ( the Constitution gave place for lingusitic states), on gender, on religion, or any other identity to help in collective bargaining. In fact marketing gurus call similar agglomerations 'Tribes' :-). So casteist tribes have nothing evil about them.

Given all these plurality, the union among the tribes as countrymen ( for further collective
bargaining and benefits of agglomeration) and as one with humanity with mutual respect and cooperation would make for a peaceful world.

I conclude by referring to my post in Jan here

What is with these idealogies!

noreply@blogger.com (Banuchandar) — Mon, 09 Mar 2009 08:12:00 +0000

I have blogged before, long back, about the distortive role of idealogies in finding commensensical answers to problems. It is usually the leftists that are at the receiving end in such arguments. But the morons in the US are against the words 'nationalization' and 'socialsm' when they are doing exactly that. They dont want the role of 'big government' except all their monies. The politicians are obliging to this and this unaccountable ways are unsettling.

This again gels well with my theories on intelligence vs intentions. Case study on this is the current Congress Govt.

Obama-Tughlaq

noreply@blogger.com (Banuchandar) — Sun, 08 Mar 2009 08:11:00 +0000

I think BHO is the right president at the wrong time. He would have been terrific in normal circumstances with his left leaning plans like tax hikes, health care reforms etc. in America with 40+ Gini.

But the left leaning protectionism is goin to make American business less competitive in such a crisis situation. Not only have the American buisness have to hire costly and less skilled locals but the exodus of immigrants is going to shift the both the supply and demand curves of the housing business in an unplesant way. The brain drain will have huge politico-economic consequences. But if BHO if goin to pull of a seemingly unlikely quick recovery the short term losses can be compensated. SSA Aiyar is calling the recession Hayekian and that Keynesian stimulus is not the answer.

With all the billions goin down a black hole, I can only hope that such a seemingly well intentioned and intelligent US Pres is not going to be lampooned as a pompus buffoon like Mohammed Bin Tughlaq.