EMANCIPATED OBAMA AGINST THE OPULENT BANKERS

When a man is given absolute power without any rules, he is bound to follow a path which would destroy him and his society. Have you ever wondered why does a country have a constitution and what purpose does it serve. It actually steers the government in the right direction when it sways away from its path. These are required for successful functioning of a society. Is there any kind of rules and regulation for the banks in the Wall Street?

The major banks of US were given absolute power, when restraining provisions in the Glass-Steagall act were scrapped by the Bill Clinton government through the Financial Services Modernization act, 1999. This was the starting point of the bubble which shattered the whole world when it blew in 2008 and plunged all the economies into recession.

Last week was a little tough for the Obama administration as it lost the Massachusetts senate seat to a republican candidate. Still Obama has not given up his fight against the business lobbyist and he has proposed many reforms in the banking sector in the coming days. He proposes a tax that would generate $9 billion a year for 10 years. And this action has drawn strong criticism from the whole banking fraternity. This actually is a very small amount when considered to the $700 billion for the troubled asset relief program these banks had earlier received.

He has taken the first step in the right direction to rein in the banks. This might seem a little tough to grasp because of the negative campaigns by the bankers, but this initial step would finally result in a set of rules framed for these irresponsible bankers who are the sole reason for the crisis in which we are now. Hopefully we would not face another such economic catastrophe in the future.

THE DEMISE OF THE LUXURY CARS

The recently concluded auto expo in Delhi shows that the major car industries are now changing their strategy to suit the requirements of the developing economies. All the major car makers of the world showcased their beautiful models and surprisingly the main focus was on the mileage of these cars rather than on the luxury.

Maruti’s Eeco, Toyota’s Etios, Chevrolet’s Beat, Volkswagen’s Polo, and Honda’s small car, all these cars were introduced for the first time in the Indian market in order to get a piece of the huge Indian market, whose major portion consist of the small car segment. Maruti 800, which was introduced in 1984, was the best selling car in India till 2004. This clearly showed that the Indians preferred the cars with a greater mileage than the SUV’s. Maruti thus dominates the Indian car market. By gauging the Indian market, Tata motors, last year introduced TATA NANO, which is the cheapest car in the world. Now Tata is planning to export these cars to the European countries.

When Manmohan singh in 1991 opened the Indian market to the foreign companies, there were some impediments in those processes and hence many companies did not prefer the Indian market. But with the increase in the purchasing power of the Indian middle class, most of the foreign companies are now competing for the Indian market. This trend also shows that the large SUV’s are now gone and the present consumer and the car manufacturers have been forced to shift his focus towards mileage as the price of crude oil is increasing every single day.

WHO IS GOD?

This is the question which no one can answer because everyone in this world has a different answer for this question. God cannot be found via intellectual methods but he can be found with the help of belief and faith. Belief and faith, the most powerful tool the man possesses, is the axis along which the whole world revolves. Every individual in this world strides to achieve something because he believes, without which everyone would have been a corpse of clay.

According to me god is, the DNA of belief. Only when you have faith in god, you can believe; When you believe, you can achieve something; When you achieve something, you can find happiness; and finding happiness is the sole motive of this life on earth. So to achieve happiness you have to believe in God.

But the above two paragraphs does not reflect the present scenario. The common perception is that God is a person who monitors everyone on this earth and has the power to punish the human who does the wrong. Actually one can never draw a line between right and wrong, because it depends on the circumstance and perception. This itself is a very huge topic.

What I believe is, people ( eg:kings) on earth use god as a tool to restrain the weaker section from uprising against the ruler. They make the people dumb and make them superstitious. This in turn destroys the rational thinking among humans and the rulers can make use of the faith in God to distract the failures in his administration. When a man becomes superstitious and believes these magical stories about god, he automatically becomes bound by fear, the fear of punishment. And this is actually the method by which every society operates, fear.

The present day description of God is that he has occult powers and those who speak against him would be punished. But the relationship with God should be in a manner by which man binds with the universe. God should be thought as someone who makes people think rationally and makes them happy, rather than as a person who is sitting in the heaven and making a list of your mistakes.