Harrycool

January 2, 2011

Time to scrap the sports ministry

Filed under: Sports — Tags: , , , , , — HarryCool @ 9:42 am

Comparing the number of medals to population is not the right approach. It is a little deeper than just this simple math. USA has won so many medals despite less population because of overall high standard of living; China has low medals per million purely because population density is just way too high. Having a large population will not mean proportionate number of medals – the country needs to weigh up on the development index as well; Australia on the other hand is highly developed, less populated – so more attention and resources per million people, and in spite of heavy development and privatization – the state has added more funds and resources – obviously they will end up with a very high medal tally as a result of private and state focus on sport. Jamaica is a small country with extreme focus on sport with a low population. In fact I think, the right balance of low population and high development is what is making countries like USA, Australia and those in Europe succeed. There are outliers like China where the state is heavily involved and drives results.

I think the right country to compare and compete with is China with similar Population and Social Development levels. The difference is in clean governance. India cannot compete with the likes of USA and Australia even with a willing government simply because the amount of resources we can statistically dedicate (even far ahead in future) to an individual will be much less than that of US and Australia due to difference in population. I would have also favored the mix of State and Private involvement in Sport like in Australia but then with a fucked up government, it will only be the private involvement with the lure of money that will drive a cultural change and nothing else. Government should just back off and let the money make the world go round for its populace. But unfortunately, it is the money that our netas are also after and so they will never back off!

Solution to all problems of this country in a nutshell is – revolution. We need an uprising of sorts to get things straight. As you have very rightly said Sports “reflects” our soft power. We cannot excel in sport and not excel anywhere else. We need to fix the basics first and other areas like Sports will change on its own.

http://www.hindustantimes.com/india-news/newdelhi/Time-to-scrap-the-sports-ministry/Article1-644678.aspx#comment-122980438

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Deccan Chronicle
news?cf=all&ned=in&hl=en&topic=s&output=rssTime to scrap the sports ministry
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June 9, 2010

Uncle Sam’s Scam

Filed under: Economics — Tags: , , , , — HarryCool @ 5:48 am

I can always post a link to this article, but then by god I like this dude so much that I want to post his full article on my blog.

Jug Suraiya, 08 June 2010, 09:51 PM IST

The Regency age dandy, Beau Brummell, who is credited with having invented trousers, also invented an economic model which could be called a debt spiral. When his tailor would present an unpaid bill, Brummell would order another three outfits, also on credit. Eventually, the dandy owed his tailor so much money that he became the tailor’s most valuable customer, whom the tailor couldn’t afford to offend in the slightest way for fear of forfeiting all of Brummell’s IOUs.

The world’s supposedly richest nation, America, has perfected Brummell’s economic model: US debt has spiralled not just through the roof; it has rocketed out of the stratosphere. China alone holds some $895.2 billion of US treasury bonds. All the countries in the world, in some measure or other, perforce have to keep US dollars for the simple reason that almost all international trade including the oil trade is conducted in American currency.

This represents the biggest financial confidence trick in the world. For what it means is that like Beau Brummell the US is living off the fat of the land on an ever-growing mountain of debt which is being financed by the rest of the world.

The US stopped making things cars, ballpoint pens, TV sets years ago. It didn’t have to make anything. Other countries made all the things that America needed and America bought everything from these other countries. Using US dollars of course. What else?

So the only thing that America actually had to produce were US dollars, or US treasury bonds. Whenever America has felt it was running out of cash as happened in the wake of the subprime crisis, when the Obama government authorised the pumping in of almost a trillion dollars into the economy to avert a total meltdown all it has to do was print more money. Then it could go on throwing away money like it’s nothing but bits of paper, because that’s exactly what it is: bits of paper, more and more of which can be printed up, as and when need arises.

The so-called Almighty Dollar is not backed by anything of real value. It is not backed by gold. It is not backed by any tangible goods that America produces and sells to the rest of the world, because America doesn’t make any such goods. There is only one thing that imparts value to the dollar: universal gullibility.

America has successfully pulled the wool over the world’s eyes. Like Beau Brummell’s tailor, the international community has been conned into paying to keep the US in the high-spending style to which it has become accustomed.

The more America spends i.e., the more dollars it prints the more the world laps up those dollars. The euro was supposed to be a counterbalance to the dollar monopoly. Unfortunately, fiscal indiscipline (an indiscipline learnt from the US) in Greece, Ireland, Spain, Italy and Portugal, has eroded confidence in the euro. The result? International investors are busily buying dollars and US bonds as a hedge against economic uncertainty. That’s not like a drowning man clutching at a straw; it’s like a drowning man clutching at an electrified wire to save himself. The dollar-rush is largely the cause of market volatility in India and other parts of the world. How does this affect India? If foreign investors pull out of India and park their cash in US bonds as they’re doing Indian enterprise could be starved for capital, shackling economic growth.

What can the world do to stop the US like a monstrous Beau Brummell take the pants off us? Maybe it’s time for the world’s two fastest growing economies, China and India, jointly to come up with a viable alternative to the dollar. They’ll never do it, of course. But it’s something to dream on. A yuan-rupee hybrid. The Sino-Indian yupee, anyone?

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