United States – Paycheck Protection Program

April 17, 2020

United States – Paycheck Protection Program

Padmini Arhant

United States Congress passed $2.2 Trillion corona virus economic stimulus package of which $350 billion allocated towards Paycheck Protection Program (PPP) intended to pay workers employed by small businesses and local industry with 500 or less employees appear to be losing to hospitality industry big corporate chains protecting their investments in big hotels and franchises not only in the United States but worldwide.

Is this what lobbying Congress deliver lobby firms representing big corporate chains at ordinary tax payer expense? 

While the $2.2 trillion tax payers funded stimulus checks has strict income based means to qualify for $1200 payment to households leaving others above the threshold to fend for themselves,

The affluent members such as big hotel chains and real estate owners in hospitality industry in the economic sector with more than adequate resources and fall back options at their disposal depriving small businesses and their workers from receiving due economic relief deserves review and attention. 

Corporate bailout during any crisis is the norm burdening ordinary tax payers with generational debt. The corporate socialism typically provides opportunity to enhance  personal wealth in buy back stock holdings and corporate ventures taking advantage of incentives meant for small businesses and workers hit hard in the economic and health crisis. The loopholes in the economic package gained through lobbying is disproportionately misused denying other victims a fair share of the large stimuli. 

The relevant work force and organizations representing the weaker economic sector i.e. small businesses and employees who are laid off in the current economic freeze with no lobbying power unlike major corporate entities cannot be neglected considering they ultimately contribute to larger consumer base necessary for big corporate survival in any industry. 

The loans to small businesses expected to retain workers and employees in the $350 billion PPP package reaching the appropriate recipients is critical for economic revival.

Similarly, the upcoming $250 billion stimulus that United States Congress is about to approve targeting the vulnerable and severely affected local businesses and workers are facing fierce competition from bigger enterprise utilizing their lobbying capacity to maximum benefit.

Congress members heeding ordinary citizens economic plight in the unprecedented health and economic situation would guarantee better results in economic recovery. 

Average citizens as workers and consumers together with small entrepreneurs are equally instrumental in micro and macro economic management.

Accordingly, their growth and development is an integral part of economic sustenance. 

Thank you.

Padmini Arhant 

Author & Presenter

PadminiArhant.com

Prakrithi.PadminiArhant.com 

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Reference article – Orlando Sentinel, United States – Thank you. 

https://apple.news/AJezdLCafQuuZxGt47BWFrg

“Big corporate chains are getting millions in coronavirus aid meant for small businesses – Orlando Sentinel

Large hotel, restaurant companies getting small-business loans want to spend less of the money paying workers.”

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Corona Virus (SARS-COV2) – Actions and Effects

March 25, 2020

Corona Virus – Actions and Effects 

Padmini Arhant

Question from DW news – Germany, Europe.

Is that true? Do you need to be a dictatorship to handle a killer virus?

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The answer is explicit NO.

It is not the dictatorship containing the virus.

It was the dictatorship in Beijing, China that contributed the virus evolving into global pandemic.

The appeasers promoting authoritarianism, totalitarian regimes, despots and dictatorships worldwide for narcissistic interests and mega profiteering are responsible for billions of population to remain prisoners in their homeland denied basic freedom, individual, political, civil and voting rights.

Oligarchy governance and special interests reining control over political and economic decisions in a democracy or any other form of government care less about human rights record of any nation involved in abusing citizens with torture, confinement in concentration camps, wiping civilization and culture to list a few among diverse inhumane practices while others espousing fundamentalist radical ideology using religion as pawn to oppress and occupy nations or impose undemocratic doctrine on segments within society on world watch is the norm with humanity conditioned to accept the status quo as irreversible condition. 

The corporate character prioritizing phenomenal profits over people to suit their specific economic goals and lofty financial gains is desensitized to the demise of moral consciousness within and around the sphere. Not to mention the Soul deprived of any peace in living and death for every one of them. 

The multinational corporations with manufacturing base, products assembly and distribution from China and other investment firms in the United States, Europe and elsewhere enhancing China’s economic and political clout have little or no concern on the dynamics of their capital investments in China strengthening authoritarianism diminishing any hope of freedom for people in China, the Uighur Muslims in Xinjiang province experiencing brutal exile, the pro-democracy movement in Hong Kong bleeding over the last eighteen months and longer or for that matter the long oppressed Tibet silenced with military boots in every nook and corner of the plateau and last but not the least Taiwan undermined on domestic and international policy for not in compliance with Beijing’s One nation two systems exerting authority over an independent sovereign state.

As for China’s neighbors beginning with the land locked Himalayan nation Nepal, India in the north eastern borders with China, Japan, Laos, Cambodia, Vietnam, Philippines combined dealing with constant incursions and territorial disputes in South China Sea is the biggest dilemma in South and South East Asia.

Now the question for United States Capitalists Socialism (bailing out large corporations and finance sector with taxpayers funds) maintaining close ties with China’s Communist Capitalism is;

What would it take for these multinational Conglomerate to recognize their direct involvement in the above cited human rights violations, iron fist rule in China with zero tolerance to any form of democratic activism, exploitation of work force and now the world brought under economic recession through global pandemic originating in Wuhan, Hubei province in China deploying aggressive tactics in suppressing the outbreak of the deadly contagion virus?

Starting with Tesla co-founder Elon Musk latest project undertaking attracting USD $1.3 billion from four China owned banks in China with the construction of factory in Shanghai, China to produce Tesla electric cars for sales in China, United States and world over is just one example among many in China’s magnetic influence over United States and European private as well as public sector.

Similarly, the world’s biggest online marketplace Amazon delivering merchandise with Made in China label directly or indirectly produced from China choosing to remain oblivious in the entire health crisis is deeply disappointing especially when at least eight or so Amazon employees in fulfillment centers across the United States join the SARS COV2 viz. the corona virus victim profile. Amazon was quick to rebuke a Delaware college student in the United States slamming the student with $3,800 fine on a $60 text book she had loaned and returned just four days late. Amazon reportedly refunded the student  after the incident made public quoting the same as ‘an isolated error.’

The absence of any remarks from major retailers like Amazon, Walmart and those in different economic sectors having stronghold in China’s economy facilitated by consumers and tax payers in the United States and other parts of the world in the globalized economy clarify the state of affairs leaving the global population vulnerable to Globalists prerogatives and discretion on mismanagement of health, economic and environment disasters.

On the political front, the different standards adopted such as severe economic sanctions against certain nations like Iran declined relief from trade embargo in the height of corona virus battle consuming lives at an alarming rate with western sanctions exacerbating Iranian victims and families plight in the emergency situation is against humanitarian value deserving condemnation.

In contrast, western powers partnering with China in every possible way from China being a member of G20, World Trade Organization (WTO), China granted most favored nation status (MFN) renewed by every administration republican and democrat alike in the White House and China also a permanent member of United Nations Security Council with veto power.

China on roster heading UNSC in the current month refusing to discuss the global pandemic is least surprising and other P5+1 members complacency in this regard confirms the importance or the lack there of on human lives amongst those wielding power in the global domain.

Regardless, indifference towards Iranian citizens and others sharing the western economic sanctions woes amid combating the deadly contagion virus and likewise slighting China’s 1.4 billion population and the rest enduring the Communist regime’s oppression in and around China categorically highlight the policy designed to punish people in the world over in western powers conflicting positions against nations to suit their exclusive aspirations in the geopolitical and global economic landscape.

The updates on this topic will next focus on EU nations and EU role in dealing with the global pandemic and economic stimulus. 

Thank you.

Padmini Arhant

Author & Presenter PadminiArhant.com

Prakrithi.PadminiArhant.com

 

 

 

 

 

 

 

 

 

 

 

 

Indian National Budget 2020

February 4, 2020

Indian National Budget 2020 

Padmini Arhant

India”s BJP government Finance Minister Nirmala Prabhakar’s recent national budget 2020 lacks focus on economic revival.

The budget suppress opportunity for rural and agriculture economy in dire straits. There is no solution now or in the foreseeable future to address soaring unemployment among educated youth and qualified work force.

The so-called tax increase on wealthy in India reverse course in action witnessed in latest bail out of Tamil film industry actor Rajnikanth’s tax evasion case by BJP government. 

The BJP administration rather than filling vacancies alleviating record unemployment in the severely understaffed judiciary overwhelmed with tax frauds and tax evasion cases, prompts the tax department under government control to withdraw cases on tax fraud in the amount 1 crore (million) rupees and below letting the actor Rajnikanth, an ardent BJP supporter off the hook.

BJP administration’s egregious decision in this regard depriving the nation from desperately required tax revenue exempting the wealthiest in politics, economic and entertainment sector on fair share of taxes exemplify the privileged exploiting the average citizens in India. Not to mention the trend fundamentally widening the gap between the filthy rich and poor in society.

Media, press and communication outlets complicity in the matter cannot be discounted. 

At the same time, BJP government under Prime Minister Narendra Modi declined any debt or tax relief to farmers owing money as little as 1,000 rupees to max 50,000 rupees resulting in farmers’ suicide nationwide.

This is the reality camouflaged with false projections and promises only to be broken during their term in office.

The topic will continue on other aspects of the budget 2020.

Thank you.

Padmini Arhant

Author & Presenter PadminiArhant.com

Prakrithi.PadminiArhant.com

 

New Year Speech 2020 – Global Economy & Nuclear Status

January 26, 2020

New Year Speech 2020 –
Global Economy & Nuclear Status 
Padmini Arhant

Dear Citizens of the world,

Happy New Year!

The relevant topics are global economy and nuclear status.

I begin with a reminder that the actions and decisions in the past have led to the present and upon no acknowledgment to this effect or efforts to remedy the erroneous and egregious indulgence would continue to be the future that is neither desirable nor feasible.

I share my thoughts and concerns over current events and developments along with status quo maintained over a century that has long been affecting humanity in the emerging and developing economies in the world. The idea of supremacy prompting dominance over population in the nations forced to remain weak and vulnerable allowing major powers having gained such status from illegal invasion and colonization exploiting those nations natural resources and human capital prolonged until today through military interventions and direct economic control via free market and free trade agreements disproportionately benefitting the multinational corporations of the western world.

When free market economy was floated under globalization luring developing nations to facilitate foreign investments, the governments of the emerging and developing nations accommodating and implementing the foreign direct investments (FDI) fail to protect the domestic environment having impact in formal and informal sectors largely comprising retail industry, small and medium enterprise (SME) together with other sectors in the economy. The emerging and developing nations’ agricultural,  farming, cattle raising, animal husbandry increasingly compromised for industrialization in addition to foreign corporation like Monsanto exerting aggressive influence over governments not barring displacements upon those states farming community resistance to any harmful products yielding massive losses in harvest and crop reduction. These issues largely ignored thus far despite validity in farmers’ suggestions for appropriate measure suitable to those nation’s climate and economic conditions. The foreign direct investment upon meeting relevant employment, environment and necessary arrangements on safety and security of local work force as well as impart training in the respective industry would be viable to boost economic growth. However, the emerging and developing nations invitation to FDI should only be in areas of economy lacking in that technology, industrial know-how and engineering to preserve the generic aspects of the domestic economy.

Unfortunately, the globalization has enabled Multinational Corporations (MNC) monopoly of international markets against the idea and essence of free market economy aiding fair competition and consumer options in pricing, quality and other determining factors contributing to profitability.  There is no doubt that market economy is the way for constructive and steady growth provided equal opportunity and healthy environment for all businesses to compete effectively without having to submerge or submit to bigger enterprise and conglomerate’s vigorous mergers and acquisitions prevalent in proportion to financial and market capitalization. The contemporary trend endangers free flow of economic activities and innovations subject to major corporate discretionary and privileged status. Notwithstanding the macro management of the economy under few multinationals in different sectors of the economy whether energy, finance, banking, defense, aviation, health care, technology…among the prominent players holding the key to economic prospects not necessarily shared across the spectrum or letting mega profits to trickle down to the bottom.

As a result, the major corporate i.e. bigwigs’ clout over politics through campaign financing, bidding on candidacy and outright oligarchy governance undermining democracy and electoral process besides stymieing judiciary, environment rules and regulations and labor laws are customary practice. Capitalism left to benefit all competing in the domestic and global market would lead to desperately required universal growth and development.

In contrast, Capitalist socialism granting financial bailouts at ordinary taxpayers expense, financial scandals and frauds committed in some economies with offenders absconding from their country of origin never to return due to severe banking and financial mismanagement exacerbating economic woes and gross negligence in the misuse of public funds in the banking industry.

The worst is multibillion dollars mega corporations enjoying special status from political lobbying for tax breaks end up paying zero taxes and often subsidies meant for boosting job growth and productivity are utilized in enhancing top 1% personal wealth while the rest are bereft of any benefits within corporate structure and in the economy. The anti trust laws curbing too big to control in the economic sector are necessary for systematic capital flow, goods and services that would be precursor in all fronts and inflation in particular without having to artificially adjust prime rate on lending and borrowing to control inflation or stagflation experienced by some emerging and developing economies in the fading positive growth affecting aggregate output and current account deficit.

Though market economy is a better system in creating and generating new independent concepts and methods in different areas of the economy, the public funding and national revenues from taxes and  consumer spending must be invested back in citizens lives such as universal health care, free education, retirement savings, social security benefits and unemployment benefits to alleviate poverty and preventable disease. Additionally, small business loans for marginalized segments, women, army veterans and physically challenged citizens to live a life with dignity deserves government attention and action. The public funds should also cater for infrastructure starting with proper roads, highways, bridges, railways etc. in the wide angle. At the municipal level in the developing nations and emerging economies, the sewage system eliminating manual cleaning designated to the so-called lower caste demography eg. in India under archaic caste hierarchy is long overdue. The modern techniques providing the operatives proper gear safeguarding them from health hazards and other environment pollutions is the least expected from local governments and authorities responsible for safety and healthy working conditions in society.

The other aspects in the economy are fair trade over free trade long been debated without any movement in that direction. The latest initial agreement reached between United States and China might be welcome among businesses with manufacturing and assembly base in China like consumer goods and electronics laying prolonged uncertainties to minimal effect. China’s currency (yuan) management either in devaluation or futures market and foreign currency options trading…are a trade advantage for the nation positioned as manufacturing hub in the global economy. The most favored nation (MFN) status with United States and World Trade Organization (WTO) membership are undeniably advantageous to China in clinching trade deals with nations near and far. This has been the major factor among other favorable means for China’s exponential rise as economic power in the past two to three decades.

China is also one of major creditors of United States and Eu together with Africa, the Far East and other developing nations like Pakistan, Sri Lanka and Nepal…in the Indian sub-continent. The policy continues to undermine economic conditions especially for the developing nations unable to match China’s voracity in gaining market share with diverse techniques and strategies not always conforming to global trend.

There is an immediate requirement for balanced trade opportunities among all nations to maintain economic stability and sustainability in the global economy alleviating the debt burden on economies expected to succumb to extraordinary financial constraints and debt servicing denying them prospects for economic improvement. The economic packages and financial deals to bail out economies in EU and China’s debtors are far from invigorating growth with less or no focus on stimulus instead centered on privatization of state owned companies and public assets like telecommunication and utilities, national ports takeover for example the Hambantota maritime port in Sri Lanka and draining national reserves towards debt payments in the current economic setting. These are some of the anomalies behind growing economic disparity and stagnancy in the developing nations’ situation.

Furthermore, the financial assistance from IMF and World Bank bind developing nations’ economy in debt cycle burdening the present and future taxpayers in enormous sovereign debt with no hope of revival reflected in the economic health of nations in Africa, South and South East Asia, Latin America and the Middle East. Again, EU and European Central Bank (ECB) funded economies yet to recover from 2007 global economic recession primarily due to austerity tied to funding without any incentives for simultaneous growth requiring investments to create and retain jobs, industrial expansion and trade facilities in the macroeconomic scale.

Monetary aid from international financial authorities subject economies to stringent criteria to reduce fiscal deficit targeting loan repayments and financial commitments invariably stunting economic growth and productivity. The developing nations fall victims to such financial deals leaving the population in poverty and vast majority struggling to make ends meet with no structural planning and programs to jumpstart economy.

While the lending process aggravate debt accumulation on developing nations in particular, the other dimension drowning economies is illegal economic sanctions aimed at only non-western nations to oblige major western powers stipulations having never experienced the slow painful death inflicted on people of these states depriving them of food, medicines, vital goods and services for survival.

Western powers together with UN Security Council P5+1 imposed economic sanctions is by far brutal warfare waged against the citizens of any country under the pretext of punishing governments, leaderships or military wing declining western terms and conditions favoring western prospects and influence transforming the state sovereignty to vassal statehood. No western nation subject to economic sanctions or their leaderships authorizing illegal warfare, drone strikes and terror sponsoring that have been carried out throughout history and more so in the past decade up until now ever investigated for gross human rights violations and war crimes that has been tried on non-western heads of the state and their representatives from Eastern Europe, Africa, Latin America and Asia.

UNSC economic sanctions premised on human rights violations, political rights and especially nuclear activities are loosely and arbitrarily justified against non-western nations including military actions to further enhance P5+1 economic opportunities and strategic dominance in those regions conforming to P5+1 legacy on invasion, occupation and territorial annexation continuing unabated until today.

In view of the past and present conspicuous bias and partisanship against non-western nations, UNSC P5+1 or unilateral economic sanctions from United States, Israel and any other western and allies enforced sanctions on economic trade and monetary transactions related to commerce is null and void. Reiterating above statement that economic sanctions is a direct warfare against people of those states without providing them a chance to defend or present their position to resolve any issues amicably through diplomacy and direct dialogue at the highest level.

In the absence of similar actions against western nations on persistent numerous violations since economic sanctions became the pattern against non-western nations, the population in these parts of the world unfairly pay the price with their lives, livelihood and future. The economic sanctions freezing trade activities and bank accounts of sovereign nations is illegal and could no longer bind on the basis of selective few members’ discretion to serve their exclusive interests.

In a nutshell, Capitalism could thrive with pertinent oversight on banking and finance together with compliance on environment, employment laws without flouting ethics, stymieing judiciary, general code, ordinance and legal requirements in domestic and foreign domain. Capitalism without corruption and cronyism to dominate politics could lead to stable economic growth and viability.8

On Nuclear matter – Nuclear threats and options unequivocally endanger humanity and the world at large experienced in the past and present century viz. Hiroshima and Nagasaki, toxic agents like napalm used during Vietnam war, nuclear components such as depleted uranium against Iraq, nuclear laden missiles on Syrian Skies in the eight years of war beginning in 2011, US and NATO carpet bombing in Libya on March 19, 2011, deadly chemical and biological warfare continued through terror outfits in the Middle East until now, white phosphorous used against densely populated residential targets in Gaza, Palestine are some of many activities by United States, NATO and Israel with and without UNSC authorization producing scores of casualties and still counting in the war zones in Afghanistan, Iraq, Syria, Libya and Africa.

Then there are short range and Inter Continental Ballistic Missiles (ICBM) that are in possession   of nuclear powers besides nuclear submarines, instruments and projectiles with earth shattering capabilities at momentary notice. United States nuclear proliferation and modernization is the impetus for other nuclear powers to follow suit for nuclear readiness. The poignant factor behind nuclear arms race escalation is republican and democrat administrations in the White House routinely reserve the rights to All options are on the table i.e. not barring the use of nuclear force when dealing with nations deemed adversary that cannot be dismissed as slip of the tongue from the US Highest Office. The targeted nations in this instance are compelled to adopt appropriate measures considering United States trajectory on the use of deadly weapons including nuclear arsenal as enunciated above.

Upon careful objective evaluation of nuclear status in the twenty first century, the nuclear powers with unaccounted stockpiles varying in degree and proportions in addition to huge technological vantage are the existential threat to global peace and security. The lack of transparency among major nuclear powers and their counterparts contributes to further complexity in nuclear armament.

The  (strategic arms reduction treaty) START treaty for example between United States and Russia signed in 2010 and ratified in 2011 bringing the agreement to effect on 5th February 2011. The treaty aimed at Measures for the Further Reduction and Limitation of Strategic Offensive Arms was a positive step though compliance on both sides to this effect is not verifiable given the lingering mistrust and ongoing reservations against Russia on the purported meddling in United States Presidential election in 2016.

The current administration proposing trilateral nuclear arms control between United States, Russia and China is valid. Nonetheless, the present administration extending the existing 2011 START treaty between United States and Russia due to expire in 2021 following the ten years timeframe with an option to renew for another five years subject to mutual agreement is critical to contain nuclear arms on all sides until the proposed trilateral treaty materialize and comes into effect.

As for the classification on responsible vs. reckless over nuclear status and nuclear ambitions, those who claim themselves to be responsible proved to be otherwise in the history of mankind and in the use of nuclear materials and arsenals so far. Britain’s trident nuclear programme invested in ballistic missiles and submarines alongside France as a known nuclear power in Europe other than NATO allies maintaining nuclear stock piles as de facto nuclear states are significant in terms of consolidated nuclear might.

In the Middle East, Israel’s operational nuclear weapons achieved as early as 1967 and evidently in possession of active nuclear warheads anywhere from 80 to 400 even exceeding the figure released for Britain around 215 with 120 active war heads is a guarded secret. With no acknowledgment of Israel’s nuclear status or International Atomic Energy Agency (IAEA) inspections on Israel’s Dimona reactor, the nuclear installation near Negev dessert apparently fall under western explanation on nuclear status in national interest.

At the same time, the western and UNSC economic sanctions against India and Pakistan upon their entry in the nuclear club for similar reasons given the adversarial relations fostered between the two neighbors since India’s partition together with the objection to North Korea’s nuclear capability demonstrated in prolonged economic sanctions and clashes in the Korean Peninsula divide the nuclear issue among western and non-western nuclear states granting the former nuclear rights despite colonial legacy and invasions retained well into the twenty first century. The latter on the other hand are characterized as radical for their nuclear status. Perhaps, the same mindset prevailed when the nuclear South Africa under European rule upon gaining independence from western occupation were forced into denuclearization.

With respect to Iran, the nation as described earlier experimented by western policy in displacing the democratically elected government of Prime Minister Mohammad Mossadegh with monarchy represented by then crown Prince Shah Reza Pahlavi prompting Iranian revolution shortly after enabling theocratic governance since then up until now. Iran’s status quo once again is the western and Mideast allies reason for the quest on regime change.

Iran’s authorities emphasized on any nuclear ambition as nuclear deterrence and not nuclear defiance. Iran has been placed under rigorous western demands and nuclear constraints to abandon nuclear program in the backdrop of drastic economic sanctions costing innocent lives with babies and children deprived of food and essentials in semblance to western sanctions against Iraq. Iran’s nuclear activities has been nowhere near the threshold deserving any actions let alone economic sanctions and constant harassment involving recent murder of the Iranian top General Qassem Soleimani to justify western and allies contempt for Iran’s resolve to stay on course.

Unlike Israel and all other nuclear states combined having had no IAEA inspection or monitoring, Iran has been isolated despite Iran remaining committed to non-nuclear status and non-nuclear proliferation, a path that is a tall order for all those nations in the nuclear club carrying out nuclear activities conducting nuclear subterranean tests, overland, under water and wherever possible as their entitlement.

Iran signing Joint Comprehensive Plan of Action (JCPOA) ironically with P5+1 and EU, the compulsive  nuclear offenders in their own rights proved in the default not by Iran, but chief signatory, the United States withdrawal from the accord. EU members – Germany, Britain and France recent move to place Iran on notice alongside Germany and Russia agreement to maintain pressure on Iran during German Chancellor Angela Merkel latest visit to Russia clearly defines the nuclear status as P5+1 exclusive rights while denying  the nations whom they target incessantly the right to national defense. The reason, the nuclear powers use to justify unjustifiable nuclear armament by them.

Iran is nothing more than a scapegoat for those unable to sustain their illegal economic sanctions and continuous armed skirmishes against the Shia nation.

On North Korea – The Korean affair is a convenient situation for United States permanent military base in South Korea, Japan and Philippines archipelago creating the scenario for North Korea to test missiles in the face of United States troops presence and ongoing contentious military exercise as well as Naval drills on the Yellow Sea. Notwithstanding the usual economic sanctions against North Korea forcing population into starvation for decades in the non-existing changes from the United States position in terms of troop withdrawal or minimizing military intrusion in the Korean Peninsula that led to North Korea’s nuclear status. Above all, the concerted effort to bereave Korean citizens on both sides from long desired Korea reunification is viewed as threat to United States military activities and hegemonic goals.

Additionally, the de facto nuclear states are Germany and other NATO allies in Europe. In the Middle East besides Israel, Saudi Arabia’s nuclear partners are United States and Pakistan positioned to serve Saudi Kingdom’s nuclear offense against foes in the region.

In the Indian sub-continent, nuclear rivals India and Pakistan’s hawkish elements using nuclear threats cannot be discounted. In fact both nations were brought under the brink of nuclear meltdown during western favored Pakistan’s ex-President General Parvez Musharraf in Kargil war in 1999.  

India’s Prime Minister Narendra Modi having external forces backing i.e. the western, corporate and UNSC support against India’s interest fomenting fundamentalism and polarization to strip India’s secular status, PM Narendra Modi’s frivolous use of nuclear threat during campaign rallies stating India’s nuclear arsenal are not for keepsake or meant to be Diwali festival crackers and that his government under his leadership would not hesitate to exhibit nuclear potency against Pakistan is emulation of his western counterparts favorite rhetoric – All options are on the table against specific adversaries viz. Iran and North Korea.

In light of global nuclear configuration with all nuclear states engaged in relentless nuclear pursuits and augmentation under the guise of containment, they individually and collectively imperil humanity and environment. Some nuclear nations viz. Israel, India, Pakistan…declined to commit to nuclear non-proliferation arguably citing prominent nuclear powers as the trend setters juxtaposed many non-nuclear states including Iran are committed members of nuclear non-proliferation is noteworthy.

The nuclear powers beginning with United States, Britain, France, Russia, China, India, Israel, Pakistan and North Korea together with all other de facto and passive members moving towards nuclear disarmament is no longer an option but a necessity and serious responsibility making this world and environment safe and secure for all species now and in the future.

There could be no preferences or prejudice for one against another in this regard. The nuclear policy designed and retained thus far contributing to unfettered unaccounted nuclear arms race is the norm against sensible logical requirement for nuclear free world.

Furthermore, nuclear site containing nuclear stockpiles prone to nuclear accidents like Chernobyl disaster in 1986 under then Soviet Union controlled Ukraine. Similar incidents related to nuclear arms transportation and submarines operation costing lives in the United States and Russia are barely reported in the era of secrecy and opaqueness. Not to mention the nuclear reactor malfunction triggering Fukushima nuclear chaos in Japan in 2011 in the aftermath of tsunami continues to haunt the citizens in Fukushima Prefecture forming the basis for peaceful protests dispersed with violence near Kudankulam nuclear power plant in Tamil Nadu, India in 2012.

Importantly, nuclear arms possession, maintenance and refurbishment aided in technology and other modern techniques cost a fortune consuming the bulk of national budget even for economically affluent nations let alone the developing and emerging economies viz. Pakistan, North Korea and India dealing with severe economic crisis unnecessarily caught in the predicament to prioritize nuclear defense or offense over economic growth and development. As a matter of fact, the citizens dyeing from hunger, poverty and disease at an alarming rate in all these years in these nations neglected in strengthening unaffordable nuclear capability at the expense of vast majority.

Accordingly, the nuclear powers without exception rising to the occasion in denuclearization program comprising environmentally safe and diligent disposal as well as destruction of nuclear arsenal of all kinds is imperative for global peace and security. The process must be transparent and comprehensive not exclusive utilizing elite and privileged status to evade responsibility and accountability by any nuclear power and their partners having slighted the urgent termination of nuclear activity on all fronts by all again exempting none whosoever.

Expecting Iran and North Korea to renounce nuclear path with other nuclear powers intimidating them with nuclear options against these two nations is a strategy smothered in hypocrisy. Any civilized world and society would recognize the inherent flaws and exemplify such demands through their renunciation of nuclear status for others’ adherence in genuine care for humanity and earth protection.

Finally, the western policy on economic sanctions inflicting pain and death on ordinary lives to provoke the people against the government they target for regime change constitutes a war crime. The economic sanctions and obstruction in trade and commerce to suppress non-western economies from due progress is a serious violation reeking contempt and bias in the otherwise global economy paradigm inhibiting protectionism upon governments focus on improving domestic economy within through tariffs and import duty.

I will be back to discuss other topics such as the role of United Nations as an international organization in contemporary politics, democracy meaning and purpose and environment connected to climate change and treaty.

I appreciate your patience.

Thank you.

Padmini Arhant

Author & Presenter PadminiArhant.com

Prakrithi.PadminiArhant.com

 

United States – Federal Reserve Credibility against Economic Viability

December 22, 2018

United States – Federal Reserve Credibility

against

Economic Viability

Padmini Arhant

Federal Reserve is all about defending own credibility against economic viability reflected in the continuous interest rates hike in September and now in December 2018. The Fed Chairman Jerome Powell attributed the rates hike to economic data in hand that in itself pose questions on the matter. The economic figures in 2018 related to every sector on borrowing affecting consumer price index (CPI) directly tied to inflation is suggestive of the reverse response rather than persistent higher interest rates adjustment. 

The latest interest rate hike inevitably impact housing market, auto loans, credit cards and student loans that are already stressed due to past actions from the Federal Reserve. The economy is being unnecessarily subject to induced recession through such arbitrary positions from the Federal Reserve. The other factor is imposing speculations in the stock market among public investors on potential impending economic crisis that the Federal Reserve poised as privy to without sharing information in the public domain. 

Seriously, thus far the institutions like the Federal Reserve lacking in transparency and accountability since onset until now defying open congressional probe on missing trillions of dollars from U.S. Treasury within their organization adapt to the favorite strategy of manufacturing crisis in the absence of none in the horizon. 

By and large those behind the global operation of politics, economy and more hopelessly rely on creating problems and dire straits for own survival and further prosperity with little or no concern on their egregious involvements exacerbating economic, political and social conditions in the domestic and global environment.  There is no doubt the engagement is intended to stymie progress considering the entities impunity to responsibility behind major setbacks in the economy, politics and global activities conforming to negative trend. 

The topic will focus on detailed analysis and review of Federal Reserve penchant for raising interest rates under the guise of controlling or containing inflation ignoring economic and market results leading to a tailspin in the short and long term. 

Federal Reserve credibility never existed to begin with given the manner the private organization comprising core board members by virtue of inheritance of power within a confined group set up as family structure disingenuously functioning as United States Federal monetary authority against constitutional norm. 

United States constitutional requirement for monetary policy and treasury is to be brought under republic statute contrary to long tradition of the critical monetary service outsourced to private banking institution in the name of Federal Reserve. 

Time for transfer of power from privately run Federal Reserve to public represented Congressional Authority eliminating exemptions from scrutiny and compliance on appropriate monetary practice. 

The private entity Federal Reserve mandating U. S. sovereign monetary policy with the latest move on rates increase in the range 2.25 – 2.50 percent is based on self convictions and the organization’s custom in contradiction to economic reality.

The credibility and competence of any private or public institution and enterprise emanates from recognition and realization of actual events and potential effects of contrasting decisions unlike the current action from the Federal Reserve.

Thank you.

Padmini Arhant

Author & Presnter Padmini Arhant

Prakrithi.PadminiArhant.com

U.S.Economy & Financial Markets

October 11, 2018

U.S.Economy & Financial Markets

Padmini Arhant

The Federal Reserve preparation to hike interest rates in December 2018 in consideration of historic lower unemployment and GDP forecasts is received cautiously with financial markets reaction to United States and China trade war alongside unnecessary economic sanctions against Iran and Venezuela having drastic impact on global economy.

The Federal Reserve move on gradual rate increase to maintain inflation at current 2 percent bearing low unemployment is a step focused on limited factors such as job and GDP data. However, the fact of the matter is there are other aspects with potential reverse outcome on Federal Reserve’s action to interest rates hike that merits attention.

On the job status, the unemployment figures might be impressively low. Nonetheless, the cash flow in the economy is still lagging in small and medium businesses and other areas of the economy involving direct consumer purchase such as the housing market and automobile industry.

In general, the consumer spending is fairly weak and reflected in retail industry poor performance with many brick and mortar stores struggling to survive in the anemic retail business. The retail figures at the end of holiday season this year will further indicate the condition one way or another. The conventional retail chains and big stores are facing tough competition from e-commerce with online giant like Amazon forcing  shutdowns on major retail stores unable to compete effectively given the popularity and convenience of online marketing.

The e-trade is a big challenge to standard retail business and that in a way controlling inflation on many goods and services in the market. Again, the purchasing power among majority of consumers in the middle and lower incomes category is static and even remain below the expected level despite low unemployment in the economy. One of the reasons behind this sluggish consumer spending is lack of fair income distribution.

Although the job market might appear to be favorable, the buying power among consumers on big budget items like home and cars as well as other essentials are nowhere near  anticipated market share with significant impact on construction industry and manufacturing sector.

On the international front, United States administration policy towards Iran and Venezuela is triggering currency devaluation in emerging economies like India and developing nations such as Pakistan, Turkey and countries in Latin America dependent on crude oil imports from overseas. The U.S. dollar pegged to oil trade, the strengthening of U.S. currency is mainly associated with global transactions in dollar and the alternative being euro depleting foreign currency reserves for most nations worldwide.

European economy barring Germany, Norway and few Nordic states are yet to recover from recession started back in 2007 and experienced until now. Many EU members like PIGS ( Portugal, Italy, Ireland, Greece and Spain) along with Eastern European EU states are not relieved from economic crisis and barely able to meet financial obligations amid EU enforced austerity contributing to depressed economic growth and development.

The debt saddled nations are driven towards debt servicing to enrich international monetary authorities and prominent bankers profiteering on the extraordinary debt burden of these countries confronted with liquidity crunch creating the dilemma of debt trap causing economic downturns for nations in this situation.

In the given scenario, euro as the optional trading currency is superficial posing needless strain on global economic activities especially in the backdrop of fragile European economy and United States politically motivated sanctions against Iran and Venezuela compounding the problems on the energy demands and supply chain for nations like India and China with massive energy consumption to fuel the economy. The other efforts in this context such as raising OPEC output to deal with United States sanctions on Iran and Venezuela do not satisfy market requirement that are already felt with unaffordable fuel prices in India, Pakistan, Sri Lanka and many parts of the world.

United States and Europe would be ultimately affected as the western multinational corporations are predominantly benefiting from global presence and operations right from production to sales, distribution and service  in many industries invariably exposed to common energy and economic issues striking the consumer base in Asia and other regions instrumental in boosting global economic progress.

The global economic regression is directly related to these unwanted events with immediate repercussions on allies and those behind the strategy. China trade war is another dimension with United States having granted the former MOST FAVORED NATION (MFN) status and many United States companies involved in manufacturing goods from China that are not only available in America but also in the global markets. China has long been the world’s central exporter and wholesaler with businesses from far and wide ignoring labor exploitation in addition to normal employment and environment violations in the profit-oriented system. As such, China’s reciprocation to U.S. actions are not without consequences for both economies engaged in mutual trade warfare.

Accordingly, discernment on decisions against China, Iran and Venezuela from the U.S. administration under President Donald Trump is critical to save the economy from possible meltdown in the aftermath of global economic decline that are visible in the wake of current account deficits among many nations trying to maneuver the difficult predicament of survival and resolution to impending economic woes generating anxiety in the global domain.

As for the Federal Reserve resolve to move forward on the overnight federal funds rates over the next year and beyond from the present 2 and 2.5 percent to about 3.4 percent to contain inflation at 2 percent would predictably slow the positive economic trend hurting prospects in the already suppressed housing market and retail sales as highlighted above.

The macroeconomic forecasts on United States GDP for third quarter at 3.7 percent and 2.6 percent for fourth quarter with the Federal Reserve revision showing higher growth figures based on the latest tax cuts and government spending prompting Federal Reserve position on premature rate increase neglect stagnancy in ordinary household income.

The mere job growth in the absence of affordable living standards confirm income disparity. The per capita average net income and cash flow determining consumer price index and inflation is trailing behind projections and proposed changes to rates could wipe the gains realized in the recession free economic span in the past decade until now.

In a nutshell, the exponential rise in minimum wage and average income i.e. per capita income in correlation with GDP is important besides minimizing joblessness in the economy prior to addressing inflation alone in the macro and micro economic management.

Thank you.

Padmini Arhant

PadminiArhant.com

Prakrithi.PadminiArhant.com 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unilateral Sanctions – Compliance vs. Prudence

August 8, 2018

Unilateral Sanctions –

Compliance vs. Prudence

Padmini Arhant

 

Following the article on this site https://padminiarhant.com/united-states-and-israels-unilateral-sanctions-are-illegal-and-invalid/ on August 7th, 2018.

Those leaderships claiming to reluctantly observe illegal sanctions are essentially confirming their loyalty to hegemony over the people and nation they are elected and expected to serve in the so-called free world.

The governments and the head of the state are obligatory to prioritize national requirements on growth and development in exploring trade activities worldwide that best suit their domestic economy rather than complying with politically motivated unilateral sanctions from United States and Israel – the two nations to presumptuously assume authority in imposing trade embargo on foreign states and territories targeted as adversary and mistakenly treated as dominion republics.

In the United States, the administrations submitting to foreign lobby such as Israel’s advocacy groups and organizations actively engaged in promoting and implementing economic blockade on those they consider nemesis such as Syria, Iran and Palestine, along with a desire for them not to exist in the region contrary to Israel’s perception of the reverse.

The terror sponsorship against Syria is testimony to this fact wiping Syrian civilization since the onset of warfare in 2011 up until now. The foreign trend in Syria assassinating professionals in Scientific Research, medicine, journalists and others from diverse fields in economic sector contributing to rebuilding their nation is aimed at depriving Syria from organic talent and self-reliance. Syria savaged from international coalition recruited terrorism involving United States, Israel and key western allies together with Middle Eastern cohorts playing significant role has been under economic sanctions for more than a decade alongside combating terror.

Similarly, the north African nation Yemen has been under brutal assault facilitated by United States arms to Saudi Arabia and Israel’s intervention in Yemeni political affairs.

The lobby through members in U.S. Congress and the administration regardless of political faction left or right care less about sovereignty or foreign nationals rights in their domain. Besides, the sanctions on these nations lasting several decades in the case of Cuba and North Korea while Syria, Iran and Venezuela continue to be placed in extended sanctions predominantly due to hostility from United States and Israel’s representatives in political circle and institutions pledged to specific agenda viz. regime change.

President Donald Trump’s administration reinforcing sanctions against Iran, North Korea and Venezuela and allowing sanctions on Syria as well as Cuba to remain clarifies political expediency. Not to mention the flip flop posturing in inviting Iran for unconditional talks and in the same breath slamming sanctions reflect indecisiveness and external dominance on U.S. foreign policy.

The decision denying economic opportunity to United States companies and businesses in these parts of the world is a big mistake. The removal of sanctions would enable global progress benefitting United States economy in exporting higher end goods and services to these regions in technology, infrastructure development, medicine and scientific education, training and expansion that are guaranteed to be appreciated in contrast to subjugating citizens with harsh economic misery provoking anti-American sentiment. 

The economic gains are enormous in lifting sanctions against all these nations providing the people of these countries job prospects and skills to improve their living standards that in return would enhance consumer base for United States in the global market.

Instead the incumbent administration’s contradictory position to favor foreign lobby political aspirations at United States economy’s expense is against America First and Making America Great Again promise. The move exemplifies America Last in violation of public trust and campaign appeal.

As mentioned above, the other nations’ ruling parties in governance choosing to comply with unilateral sanctions arguably anxious about securing term in office or response from those behind these sanctions. What they forget is, in compliance to these unlawful sanctions, they are renouncing myriad options to engage with nations of their choice, the states within their region as neighbors in particular have greater economic advantage.

Furthermore, before hegemony remove such governments from office in case that appears to be the immediate concern to these office bearers, the electorate would reject them in the polls for failing to address their needs and economic woes in leaning towards personal political security. Notwithstanding the obvious stance undermining state sovereignty and independence highlighting them as proxy to hegemony.

The true believers in freedom would not compromise their sovereign status and surrender to foreign diktat on sanctions against those whom they identity as their rivals prompting unjustified actions.  Those who acquiesce to decades old policy of isolation and discrimination via sanctions are certainly not going to derive economic profitability or political sanctuary leaving them behind in vassal statehood to hegemony exploitation.

On the other hand, those nations declining the status quo and moving forward to renew ties with nations under illegitimate sanctions in an effort to strengthen their economy as well as extend expertise and support to nations affected under sanctions would forge better relations and international partnerships on most matter.

It all comes down to prudence delivering positive outcome compared to compliance on arbitrary sanctions serving as a reminder on default in defending liberty and independent status of own nation and the missed moment on economic dealings.

Padmini Arhant

Author & Presenter PadminiArhant.com

Prakrithi.PadminiArhant.com

 

 

 

 

 

 

 

 

 

 

United States and Israel’s Unilateral Sanctions are Illegal and Invalid

August 7, 2018

United States and Israel’s Unilateral Sanctions are Illegal and Invalid

Padmini Arhant

 

Since the beginning of the twenty first century and more so in the past decade up until now, the trend with United States and Israel imposing unilateral sanctions against selective nations is illegal and bear no legitimacy whatsoever considering own track record on human rights, nuclear testing and meddling in foreign governance.

United States Presidency is mistaken for Universal authority. Only the citizens in the United States are eligible to elect the President and members of Congress not the entire world.  

Unfortunately, the US system in that respect as well is far from democratic with the electoral college votes overriding popular votes in the final outcome.  In the democratic party, the Super delegates undermine primary voters’ choice by exercising the privileged status to them in the party selection process. Accordingly, the U.S. administration authorized sanction on any nation without the approval of international community and that means every nation in the world could not be effective or expected to be followed in the absence of global consensus.

The same principle is applicable to Israel’s action on Gaza. These sanctions are politically motivated and premised on satisfying the so-called ally and/or shadow power demand aimed at regime change for unfettered access to those nations’ natural resources and exert strategic dominance.

Hereafter, effective immediately the sanctions against all nations are null and void. UNSC is no longer an authority to decide on global matter. The issues will be presented in common domain and depending on the nature of the problem and event, the UN General Assembly with all members and that would include any state under occupation denied UN full membership to participate in the one vote per nation on international affairs.

Any objection to UN role as the comprehensive body comprising all nations in the world without exception would then lead to the formation of new international consortium adapting the global representation by respective states big and small barring hierarchy in sharing concerns and grievances on political and other issues to derive resolutions. The newly formed international group would function as a fair and accessible body allowing all nations in the world to be involved in decision making through ballot on their population behalf to reach peaceful and amicable solutions on disputes worldwide.

UN General Assembly in September this year would be subject to litmus test on functionality and effectiveness in addressing decades old unresolved disagreements and conflicts with assembly members casting vote to end human suffering and misery from prolonged violence and mass subjugation.

From now onwards, all nations regarded sovereign and independent not excluding the states under occupation are to resume bilateral and multilateral trade, educational, environment, cultural and diplomatic relations with others around the globe.

No single nation assuming the Superpower status could individually dictate sanctions and economic measures or military actions to hurt or harm nations targeted for vested interests.

United States and Israel enforced trade embargo and other restrictions on selective nations being unlawful hitherto, the status quo is declared invalid moving forward with the renewal of trade extending economic partnerships towards all nations that were confined to arbitrary sanctions viz. Syria, Iran, Cuba, North Korea, Venezuela and others in the category.

All nations in recognition of their sovereignty and free status are at liberty to conduct trade and economic activities with nations mentioned above and others to suit national requirement for growth and development.

The changes are necessary to relieve the population of these nations from struggles experienced under unipolar (UNSC), United States and Israel’s decree that are unjustified considering own legacy and contemporary engagements qualifying them for sanctions per their criteria. The concept of punishing nations through sanctions for prioritizing their national interests in investing state resources in the lives of the people or defending territorial integrity that are constantly threatened and violated by those behind these sanctions are unwarranted and provocative exacerbating sanctioned citizens plight. Not to mention those authorizing these sanctions in return committing crimes against humanity inflicting pain and tragedy on the citizens of these states.

The arguments to this effect are to be presented in the UN General assembly providing each side the opportunity to present their case and exchange views in a civil manner to arrive at conclusions favoring humanity rather than the strategy of isolation and incarceration exerting authority to promote agenda benefitting the exclusive club reining control over global system.

Earth’s endowments are meant for all beings and species in the natural creation and not to be treated as private estate of any particular conglomerate asserting entitlement.

Padmini Arhant

Author & Presenter PadminiArhant.com

Prakrithi.PadminiArhant.com

 

 

 

 

 

 

 

 

 

 

India and United States – Facts on Economic Matter

September 27, 2015

By Padmini Arhant

The incumbent Indian Prime Minister Narendra Modi overseas visit propagated as boosting foreign investors confidence in India is the current review.

For any nation, economic growth is vital to improve the living conditions especially in countries with vast majority in abject poverty, hunger, disease and illiteracy suffering over generations for better life.

The economic development to address burgeoning issues like unemployment, inflation, local business opportunity, rural economy assisting farmers in the agricultural front rather than seizing farmland to benefit corporate donors funding election campaigns, affordable housing, healthcare and education would be constructive.

On the other hand, promoting foreign agenda on behalf of financial institutions having reputation in sinking economies leave population in debt slavery under the guise of progress.

The plan executed to benefit core members in the gambit exacerbating economic woes and myriad problems for the nation.

In terms of foreign investments in India – the reform pledges to attract multinational corporations (MNC) ventures conforms to neo-liberalization – the hallmark of hegemony global economy policy.

The fact of the matter is capital funding in a nation like India need not be derived from foreign source. 

India’s predicament is outbound capital flight through black money, assets held in offshore accounts and tax evasions amongst the rich, famous and powerful depleting state treasury.

Any financing from abroad in Indian economy is typically utilizing India’s due national revenue laden with interest paid by the people and shared between external and internal operatives behind hoarding money in tax havens and Swiss banks fostering money laundering.

The ruling power in India were to crackdown on corruption beginning with political establishment in black money recovery instead of clamping down on humanitarians and peace activists –Prime Minister Modi and delegations’ business oriented foreign trips expenditure could be divested in domestic economy.

Furthermore, kickbacks on private and public sector deals and embezzlements ranking high on corruption scandals the government protection with political impunity is a serious setback for the economy.

The government response to these scams inversely punish those investigating corruption with job transfers to remote locations or removal from respective positions – the common occurrence in civil administration. 

Indian Administration Service (IAS), Indian Civil Service (ICS) and Indian Police Service (IPS) notwithstanding criminal bureau of investigation (CBI) officials are routinely subject to such treatment in high profile graft probe.

Upon collecting national income from the economic, entertainment and other commercial sectors with appropriate tax policy,

The banking sector capitalization facilitating liquidity flow for trade and commerce in the small, medium and large (SML) enterprise is viable without having to pay exorbitant interests risking state holdings to foreign lenders often submerging economy witnessed in Greece and similar experience by developing nations in the World Bank and IMF authorized financial undertakings.

The abundance in entrepreneurial skills and business acumen in India combined with financial resources could accelerate domestic productivity in the long proposed Make in India goal.

However, the ruling government arrival in foreign land touting for Make in India while spending $2.5 billion in defense purchase increasing India’s recent military expense to $10 billion is a huge contradiction in action deviating from projection.

The political trend with leaderships desire to extend term in office guaranteed in cooperation with foreign defense industry representing the military industrial complex. The quid pro quo apparently slight electoral discretion.

United States corporations vying for investments in India or elsewhere ignore ailing economy and fairly high joblessness at home despite tax breaks and other incentives to revive manufacturing, retail and export market.

The two scenarios – India and United States economies require native production to curb job losses and restore economic activity across the spectrum unlike priority to disproportionate military disbursements.

Hegemony sponsored neo-liberalization seeking open end access for multinational companies  in foreign marketplace whether emerging or developing economy favor shareholders and key investors profiteering to global labor force and indigenous businesses detriment.

Yet neo-liberalization falsely promoted as globalization against protectionism although the implementation thus far mainly safeguards MNC monopoly.

Public debate and scrutiny on government decisions pertaining to economy, political, social, environment and other related areas necessary to reinstate democracy.

Otherwise taxpayers funded governments and representatives are staged as the most powerful political figure, authority and cult phenomenon warning fact finders to refrain from challenging status quo confirming the departure from democratic system.

The systemic abuse of power and misrepresentation is the ominous sign of decadence.

Citizens fearing political class in contrast to politics concern over electorate reaction determines republic rule.

Peace to all!

Thank you.

Padmini Arhant

 

 

 

 

 

 

Greece – EU Ultimatum With Austerity

July 15, 2015

By Padmini Arhant

Following the national referendum early July, the international creditors and EU members, the German leadership in particular ruled out economically viable options such as debt write off and financial plan aimed at restructuring, capitalization together with growth oriented reforms besides spending cuts to rescue Greece from precipitous decline.

The recent EU summit has enforced more austerity in defiance to Greece citizens’ rejection of the failed policy responsible for Greece deterioration and similar impact across Europe leaving 25 million and more workers in the unemployment category.

The EU decisions evidently prioritize pride and pecuniary power over pragmatic solutions to debt crisis.

Another obvious sign in the ongoing development is EU re-attempt to remove incumbent government considering earlier outcome with plebiscite on austerity attached to government resignation upon YES vote went the other way.

Accordingly post EU marathon meeting, the determination to cause political instability instigating infighting in Greece during prime time of government preparing to present EU recommended grave austerity programs to the Parliament is not a coincidence.

The turbulence in Greece with external meddling in political affairs of a sovereign state has striking resemblance to events in Ukraine.

Ironically, the austerity proponents in EU consciously ignore the costs related to holding referendums and frequent elections by stirring political tensions to jettison the premier and the government not approved by them.

The involvements also pronounce the respect or the lack thereof for foreign state sovereignty.

I reiterate on EU bureaucracy costing EU citizens a fortune and yet EU dogma on austerity is extremity overriding rationality.

When a nation is deprived of income due to lack of investments in the economic sector saddled with common currency euro compromising competitive edge in trade and microeconomic activities,

The spending cuts and draconian measures arguably exacerbate economic conditions stifling any chances of recovery.

EU offer on the third bailout €86 billion tied to harsh financial terms is aimed at ejecting the present government rather than addressing the economic recession and liquidity problems in the country.

The contemporary practice to destabilize nations for ulterior motives guaranteed to affect sources especially in the inter-dependent regional and global economic environment.

EU and euro zone protectionists’ egregious doctrine on severe austerity proved a phenomenal failure and no longer sustainable. 

France is an  example of austerity stricken economy producing massive layoffs  and government legislation extending retirement age while reducing pensions and wages crippling the French work force.  

French Prime Minister Manuel Valls emphasis on Greece remaining in euro zone otherwise opposition to GREXIT was explicitly stated as geopolitical importance clarifying EU real intentions slighting Greece and other member states viz. Spain, Italy, Portugal and Ireland…economy. 

EU steps against Greece economic stimulus is counterproductive.

The insistence on trying same experiments expecting different results defy basic intelligence not to mention the expenses incurred in the repeat trial and error methods aggravating the process.

EU commitment is saliently towards saving euro zone and parallel government in Brussels than outreach member states with necessary financial package.

Greece government approach to resurrect economy and release the people from indebtedness lies in independent economic and financial management reinstating the original currency drachma backed by sound monetary, fiscal and trade policy.

The opportunity is far better and greater with people governed state in control of national assets and treasury unlike existing hierarchy subjecting member states to individual and EU parliamentary procedure on critical economic matter contributing to waste of time, resources and money in the austerity dominant era.

Perhaps Greece resonance in this respect could avert political turmoil ending economic misery.

Good Luck! To Greece population in claiming political and economic freedom.

Peace to all!

Thank you.

Padmini Arhant

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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