Friday, June 24, 2016

776 The skirmishes among Mr. Subrahmanian Swami, Mr. Raghuram Rajan, Mr. Arvind Subramanian et al, are all bourgeoisie fibs and fisticuffs

The skirmishes of Mr. Subrahmanian Swamy, Mr. Raghuram Rajan, Arvind Subramanian are all engaged in bourgeoisie fibs and fisticuffs
I have a list of 27 people, with me, who are working within the government and need to be ‘fixed’.-Mr. Subramanian Swami

Considering the various news-reports and events which have culminated in the non-extension of the term of Mr. Raghuram Rajan, the Governor of Reserve Bank of India (equivalent of Federal Reserve of United States, and the Bank of England of Europe), the view expressed by Mr. Raghuram Rajan, that he was reading his obituaries in Media, and that he is going to be in India for some more time to time, things may appear to be wierd to the World, about the choice of occupants of high posts in India.

Yet, there is nothing to wonder about all these happenings. These things happen in every country, particularly in every "Capitalist" country on this Earth. (Note: There are no true "Socialist" countries, in the world today).

At the most these can be termed as "kissa kursi kA" (The Story of the Chair). The Chair of the Governor of Reserve Bank of India is important because he is believed to control the lending rates on credit extended by Banks in India to business Corporates and Industrial Corporates. Corporates are eager, and keen that interest rates on Corporate loans extended by Banks in India are brought down drastically, so that they can make easy profits. It is perceived that Mr. Rajan is a stumbling block for fulfilment of that desire, but it may not be true. Even if we accept that Mr. Rajan is a Congress Agent, as presented by Prof. Subrahmanian Swamy, we have to recognise that Congress too is not against Cheap Interest Rates in India. As an economist made in the moulds of Western Financial Institutions such as World Bank, IMF, Harvard, and other Euro-American Universities and Schools of Economics, Mr. Rajan himself is not against lowering interest rates.

Some 10 questions are worth examining on this issue, which we shall take up shortly.

To continue. सशेष. ఇంకా ఉంది.

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