Friday, March 14, 2014

A nation of goats.

Violent clashes erupted in Turkey 3 days back after the death of a 15 year old boy who has been in a coma since being hit on his head by a teargas canister on 16 June last year when, as a 14 year old, he had gone out to buy bread for his family. Predictably the government has responded with more violence. Prime Minister, Erdogan called the protesters " anarchists, terrorists and vandals " and said," Trying to set fire to the streets 18 days before elections is not a democratic stance." Similarly, Delhi police beat up sleeping protesters on 4 June, 2012 resulting in the death of a woman. Erdogan's party and family have been linked with multiple cases of corruption just as the Congress Party here in India. Seems that for these fellows ' democracy '    means the absolute power to do whatever they like after winning an election through whatever means possible and then savagely beating up anyone who disagrees. There are more similarities. The Turkish economy is sick with inflation at over 7%, exports are falling and the Current Account Deficit at 7% of GDP. The central bank is supporting the lira by selling dollars. The interest rate should be at least 11% but Erdogan will not allow it. In India the CPI has fallen to 8.1% last month from 8.79% in January, exports fell by 3.7% to $25.6 in February compared to last year and the rupee is at around 62 to the dollar. Our most revered Finance Minister would not allow the RBI to increase rates. Economies of Argentina and Venezuela are facing similar troubles with very high inflation, falling value of their currencies and rising deficits. Massive subsidies have ruined both their economies. Nicolas Maduro, the President of Venezuela has responded violently to the protests, blaming right wing elements supported by the USA. In India the Congress has won 2 elections by bribing its ' vote bank ' with massive handouts of taxpayer money, leading to inflation, high fiscal deficit and falling growth. The government in Thailand has been paying a higher than market price to rice farmers apparently to make them richer. There have been casualties in violent protests in the Thai capital, Bangkok. In India the government has a Minimum Support Price for buying grains which has made food so expensive. Our government has adopted the worst policies of all these countries and yet we do not protest. Are we a nation of goats? 

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