Wednesday, November 29, 2023

The damage is done.

"America's massive resources - economic, natural, human and technological - have enabled it to fight two world wars, undertake costly misadventures globally, weather several economic crises and emerge as the world's fulcrum," wrote Somnath Mukherjee. '"Over the last five decades, the US has held its share of global GDP at 24-25%." The "non-American pole" comprises China, Russia and Iran, along with Pakistan, North Korea and Cuba, while the US has Europe, East Asia and now India on its side. "The US is India's largest export market , by a long mile." And so, "India's economy is best served by a continuation of the US-led global economic commons." US "Gross domestic product (GDP) increased at a 5.2% annualized rate last quarter, revised up from the previously reported 4.9% pace, the Bureau of Economic Analysis (BEA) said." "But growth in consumer spending, which accounts for more than two-thirds of the US economic activity, was lowered to a still solid 3.6%." Reuters. " 'Immaculate disinflation' is becoming a reality, according to Nobel laureate Paul Krugman," and "despite gloomy sentiment in pockets of the market, the economy is actually doing way better than people think." BI. India finds itself in a fix as, "Nikhil Gupta, 52, has been charged with murder for hire, which carries a maximum sentence of 10 years in prison." He apparently offered $100,000 to an assassin to kill US citizen Gurpatwant Singh Pannun in New York. ET. "In an indictment unsealed by the US Attorney's office in Manhattan, authorities also revealed that Gupta was in constant communication with an Indian official (identified only as CC-1) who directed the alleged plot, ostensibly in exchange for getting Gupta off the hook in a criminal case in Gujarat." "The telephone number used by CC-1 has an India country code and is registered to an email account that, based on Internet Protocol data, accessed the internet during the period of the murder plot on numerous occasions from the vicinity of New Delhi, where CC-1 worked during the relevant period for an Indian government agency," wrote Chidanand Rajghatta. Gupta contacted a confidential source (CS) to find an assassin who passed the information to an undercover agent (UC). Clearly this is a set up by the US. Why? "The Biden administration, because of the significance it attaches to its ties with New Delhi, 'bent backwards' to be very polite in its public responses following the Canadian allegations against India over the killing of one of its citizens, a top American expert said." ET. In fact, "American spy agencies provided information to Ottawa after the killing of a Sikh separatist leader in the Vancouver area, but Canada developed the most definitive intelligence that led it to accuse India of orchestrating the plot." NYT. The Biden Administration "engaged with the Indian government on a number of occasions to urge them to cooperate with Canada in its investigation," a US official said. BT. Instead, India called Canada a "safe haven for terrorists", stopped issuing visas to Canadian nationals and threw out 41 of its diplomats in India. CNN. Now, India has set up a "high-level inquiry committee" to examine the US charges. HT. India has not forgotten the bombing of the Air India plane Kanishka in 1987 by Sikh terrorists living in Canada when Pierre Trudeau, father of the present prime minister, was the prime minister. ET. That was 36 years back. The committee should have been set up immediately Trudeau complained. What's the point now? Canada has been vindicated. 

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