Mukti

সাতকাহন

Posted in economics, foreign policy, India, macro, music, Rights, rock, US, West Asia by jrahman on July 6, 2012

Seven trashes collected by the senses.

– Great to see econoblogging in Bangla.  (I don’t endorse part of the analysis.  No, I won’t be blogging about this — too close to home).

– Cruise as Axl Rose, took me back to the glory days

– On the Rohingyas: Hana S Ahmed and Rumi Ahmed.

– Happy birthday, America.  (Hat tip: FMA).

– What the Yanks want, from India

– Padma bridge and Suranjit may be more sensational, but banks could be what hurts us later. 

– Who will win in Afghanistan?  Not Pakistan.

4 Responses

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  1. Diganta said, on July 6, 2012 at 6:57 am

    It will be nice to know in what part you disagree with my post on European crisis.

    • jrahman said, on July 16, 2012 at 8:38 am

      Perhaps I am reading too much into it, apologies if that’s the case. I detect an undertone of ‘it’s the Germans’ fault’ or ‘Germans are trying to gain control’ or some variation of anti-German sentiment, which I don’t agree with.

      • Diganta said, on July 16, 2012 at 10:40 am

        No I didn’t find anyone’s fault. It’s a natural outcome of the monetary union.🙂

      • jrahman said, on July 19, 2012 at 4:52 pm

        The key issue isn’t monetary union, but union of unlike partners on unwise terms. Given its painful history, Germany has consistently tried to strive for an ever closer EU. Monetary, and eventually fiscal, union has always been part of that agenda. And modern German politicians are quite comfortable with giving up sovereignty to an elected body in Brussels. The thing is, economically such a union in the 1990s made sense only among the northern core of the EU. But a smaller eurozone would have been very German-centric, and the French didn’t like it. They pushed for the inclusion of the periphery economies.

        The best possible outcome would have been that upon becoming part of eurozone, countries like Greece or Spain would converge in productivity and prosperity. Instead, what happened was that monetary union allowed for cheap money, which led to debt problems (government debt in Greece, housing bubble in Spain). And now we are seeing the consequences.

        People talk about technocratic solutions — banking this, monetary that. But as I said in the other post, debt hangovers are about redistribution — someone has to lose their money, either the debtors get crushed, or they get away with it and the bankers suck it up, or the taxpayers bail everyone out. This kind of issues cannot be done outside politics. It’s a political problem, and will be resolved through politics.


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