Dear Mr Basu,
Please do not worry about the name. Appreciate the detailed explanation. Would there be an optimal level of investment? Since we have a negative trade balance (unlike China), would that affect the amount to be invested? Could some of this money not have been invested say as loans to our corporate entities who seek loans from abroad to yield a better return or to retire government debt? Should there not be transparency in the process? Can we afford to pay NRIs about Rs 50,000 crores annually as interest on their investment? Just a few questions which come to mind. Do not expect answers but I hope this discussion would have stimulated some thinking. I think we need all shades of opinion on a group like this. I look forward to further contributions from you. Pavan Nair
On Fri, Aug 29, 2014 at 12:52 PM, Supratim Basu <xsupratim@gmail.com> wrote:
Dear Shri Nair - pls excuse the typo in your name - inadvertent error.Dear Sarbajit,
1. Looks like you DO need to be a rocket scientist to understand why we need US $ in the first place - everything else you highlighted flows from this fact. If you didn't need US $, you wouldn't need to invest in US Treasuries, would you?
2. I am neither foreign educated (amchi mumbai provided all my education) nor an economist by training or occupation.3. Attacking the person, instead of the argument seems to be your standard operating procedure - calling other people names only brings into question your intellectual depth and expertise.
4. Sanjeev Sabhlok - what is the relevance to what we were discussing here? You seem to be labouring under a great misconception in terms of how Freedom Team of India members operate - there is no "guruji" as you seem to think and there is no single CEO, whom we have to follow. FTI is probably the most egalitarian organisation you will find in in India - each member is equal, and free to disagree with some one else, no matter how "eminent" an external observer may think that person to be.
Please deal with Sanjeev directly on your differences - I have nothing to do with those - this is a strawman that you are posting here.5. Your objectives for this mailing list and the HRA are quite clear to me - to impose a totalitarian and socialist solution in India, since you neither believe in markets nor in democracy. This is why I hardly engage on this list - but, sometimes people make such egregiously wrong statements or assumptions that I post a comment.
You are clearly telling me that posting here is a waste of my time - so noted and will not do so in the future. In fact, I will unsubscribe now - it is another matter that someone from YOUR group subscribed me to this mailing list in the first place, without my asking to be included.
Cheers
SOn 27 August 2014 18:58, Sarbajit Roy <sroy.mb@gmail.com> wrote:
Dear S
You don't need to be a rocket scientist to know that any
half-competent central banker (even if he is a CIA imposed dishonest
rascal) will invest money in US Treasury Bonds because of (a) notional
security (b) continually declining value of INR against USD since 2010
(c) because T-bonds are highly liquid and tradeable (d) Market cycles.
etc etc and so on..
At the same time, all you foreign employed economic experts
(@lackeys), fail to maintain consistency in understanding the *FIXED*
purpose of *THIS* mailing list. I could remind you of 2 statements by
your Freedom Team (Sone ka Chidiya) guru - Sanjeev Sabhlok - to
illustrate how you economists dissimulate.
http://www.sabhlokcity.com/2013/01/the-dissimulating-smear-monger-sarbajit-roy-please-boycott-all-his-work/
(A) While doggedly refusing to read anything I wrote in an email sent
at 7:02PM, Sanjeev, within 8 minutes concluded that "Arvind (Kejriwal)
is an honest, good man." and that "Sarbajit Roy is unqualified to talk
to Sanjeev because Sarbajit Roy is dishonest". (Let us not get into
why your guruji Sanjeev Sabhlok is sending now me email after email
pleading to solicit my views and opinions).
http://www.sabhlokcity.com/2014/08/is-there-something-fishy-about-ramdev-and-his-empire-3/
(B) Sanjeev Sabhlok of course is the same economist who founded your
virtual political party (I've forgotten its exact name just now) and
publicly blogged as follows in-seriatim
(i) Baba Ramdev is a completely corrupt and cowardly fellow, then
(ii) deleted the posts where he said Ramdev is a cowardly corrupt
fellow, and wrote that SWAMI Ramdev is actually a highly patriotic
HONEST fellow who is extending all facilities .. like suitcases of
cash ? ... and
(iii) again recants by now saying Baba Ramdev is a highly DISHONEST
fellow who is operating a huge black money laundering empire ....
PS: This list has over 2,000 CAs as subscribers who know practical
'desi' economics very very well.
S
On 8/27/14, Supratim Basu <xsupratim@gmail.com> wrote:
> It is a pity that economics, even if it is economics 101, is not taught in
> Indian schools upto class 12.
>
> That is why Indians have such a woeful understanding of markets and prices
> and even, money - upto class 12, we are taught history, geography, physical
> sciences, some maths, biological sciences - but no economics - even those
> who take up "commerce" post 10th hardly learn any economics.
>
> No wonder we are a nation of economic illiterates.
>
> And, I find most engineering graduates to be the worst when it comes to
> understanding markets and economics, when they pass out - because as part
> of their curriculum, they do not learn any behaviourial sciences, no
> understanding of incentives theory and why human beings do the things they
> do.
>
> Then, naturally, the end result is *this particular discussion* - any
> economics 101 student should be able to tell you why India buys US
> treasuries.
>
> S
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