Visas to 2 million Indians, Chinese and Koreans

BANGALORE, India — Leave it to a brainy Indian to come up with the cheapest and surest way to stimulate our economy: immigration.
“All you need to do is grant visas to 2 million Indians, Chinese and Koreans,” said Shekhar Gupta, editor of The Indian Express newspaper. “We will buy up all the subprime homes. We will work 18 hours a day to pay for them. We will immediately improve your savings rate — no Indian bank today has more than 2 percent nonperforming loans, because not paying your mortgage is considered shameful here. And we will start new companies to create our own jobs and jobs for more Americans.”While his tongue was slightly in cheek, Gupta and many other Indian business people I spoke to this week were trying to make a point that sometimes non-Americans can make best: “Dear America, please remember how you got to be the wealthiest country in history. It wasn’t through protectionism, or state-owned banks or fearing free trade. No, the formula was very simple: Build this really flexible, really open economy, tolerate creative destruction so dead capital is quickly redeployed to better ideas and companies, pour into it the most diverse, smart and energetic immigrants from every corner of the world and then stir and repeat, stir and repeat.”
While I think President Barack Obama has been doing his best to keep the worst protectionist impulses in Congress out of
his stimulus plan, the U.S. Senate unfortunately voted Feb. 6 to restrict banks and other financial institutions that receive taxpayer bailout money from hiring high-skilled immigrants on temporary work permits known as H-1B visas.
Bad signal. In an age when attracting the first-round intellectual draft choices from around the world is the most important competitive advantage that a knowledge economy can have, why would we add barriers against such brainpower — anywhere? That’s called “Old Europe.” That’s spelled: S-T-U-P-I-D.
“If you do this, it will be one of the best things for India and one of the worst for Americans, (because) Indians will be forced to innovate at home,” said Subhash B. Dhar, a member of the executive council that runs Infosys, the well-known Indian technology company that sends Indian workers to America to support a wide range of firms.
If there is one thing we know for absolute certain, it’s this: Protectionism did not cause the Great Depression, but it sure helped to make it “Great.” From 1929 to 1934, world trade plunged by more than 60 percent — and we were all worse off.
We live in a technological age where every study shows that the more knowledge you have as a worker and the more knowledge workers you have as an economy, the faster your incomes will rise. Therefore, the centerpiece of our stimulus, the core driving principle, should be to stimulate everything that makes us smarter and attracts more smart people to our shores. That is the best way to create good jobs.
According to research by Vivek Wadhwa, a senior research associate at the Labor and Worklife Program at Harvard Law School, more than half of Silicon Valley startups were founded by immigrants over the last decade. These immigrant-founded tech companies employed 450,000 workers and had sales of $52 billion in 2005, Wadhwa said in an essay this week on BusinessWeek.com.
We don’t want to come out of this crisis with just inflation, a mountain of debt and more shovel-ready jobs. We want to — we have to — come out of it with a new Intel, Google, Microsoft and Apple.
I would have loved to have seen the stimulus package include a government-funded venture capital bank to help finance all the startups that are clearly not starting up today because of a lack of liquidity from traditional lending sources.
Newsweek had an essay this week that began: “Could Silicon Valley become another Detroit?” Well, yes, it could. When the best brains in the world are on sale, you don’t shut them out. We need to attack this financial crisis with green cards not just greenbacks, and with startups, not just bailouts. One Detroit is enough.

I am just asking for a coffee

These guys at office are scoundrels, who help us get coffee or tea.

It so happens that the owner of our co. is so kanjoos... he allows to serve only tea. Well, that is hot water, with tea flavour. This is brewed in the mottai maadi at office, near the toilets. Kanraavi. 2 litres of milk, serves the entire office. Imagine how much water is used!

All I am asking is coffee, can they get some milk and some instant coffee powder.

I cant just walk out to that small petty shop outside office, now that I am a Manager, guys look at me differently, cannot stop them giggling though.

Also there is a problem of involuntarily picking up the biskat or bajji or bonda, whatever is on display under the polythene paper. Adds to the weight.

I was well under weight at Coimbatore, after I moved for a short while to be with parents at Coimbatore..... 2001 to 2002 was very nice.

Well things ended short, sort of working for less in a startup and earning more... the owner is a very decent person and taught me everything about how to execute projects. Worth for the money I didnt earn... sor tof less compared, but better than most co's there. I even got a parting gift of Rs 25,000/- from the owners pocket, and an expresso machine (just 9 months old), that is still being used at home.... (I just use the regular Bru coffee powder to get the Italian taste)

Now all I am asking is ... just... COFFEE!

Culture Custodians at Chennai

I was talking to a friend who lives in the Asha Deep Apartments, Chennai (near Egmore railway station) where 2 guys staying in a 2 Bedroom apartment were troubled by the non owners (Apartment Association head and the wife) for bring in 2 girls friends form work (they stay at Jayanti working women's hostel, which is walking distance, and the BPO van picks all these folks at one point 6 PM everyday), for 15 minutes or so. That too, was instigated by 2 guys, who were watching (Sena rowdies? or MMC new hostel guys?) from outside daily. This has been a regular habit for them to get into arguments it seems.

I despise educated youth being Culture Custodians at Chennai or Moral Police!

Read from a newspaper on an activist (Rehane, Fashion Designer) outburst... but well said.

I sometimes feel sad for these self-appointed custodians of morality. They need to get a life, lighten up and find a occupation. Otherwise, they'll only belong to the party pooper ranks!

I know beloved blogger community would went the anger in different way!

But I am going to help my friend to do Black Magic to go against the trouble makers in that complex, at 5 AM with a goats head. Normal methods don't work for such folks. You have to ensure that they get into depression.... And the law cannot punish for doing it (they need direct linking proof, than just intention alone)! Just kidding!

Some pictures

Nice ones from http://foodproof.com



Pouring tea or blowing tea?




Biggest Burger (Sandwich) which gives 4489 calories, with a weight of 1.66 pounds (750 gms)

Indians Where is your Rs. 51259.85 crores gone

What is the Govt. doing with all our money ?

According to the Comptroller & Auditor Generals report on their website http://www.cag.gov.in/, Chapter 2 Comments on Accounts, the following glaring findings are documented

Section 2.2 Unascertainable unspent balances in the accounts of Implementing agencies

For the year 2007-08 , the Union Govt. made a provision for transfer of central plan assistance of Rs. 51259.85 crore directly to state/district level autonomous bodies, authorities societies etc for implementation of centrally sponsored schemes. These have not been spent fully by the implementing agencies and lie unspent in their accounts.

The report clearly say "the aggregate amount of unspent balances in the accounts of the implementing agencies kept outside Govt. accounts is not readily ascertainable. The Govt. expenditure as reflected in the accounts to that extent is therefore overstated"

Where is this Rs. 51259.85 crore gone ????

Section 2.3. Opaqueness in Govt. accounts

Scrutiny of Union Govt. Finance accounts 2007-08 disclosed the Rs. 20273.52 crore under 28 major heads of accounts was classified under minor head '800-other expenditure' in the accounts constituting more than 50 % of the total expenditure under respective major heads.

This indicates a high degree of opaqueness in the accounts, the report says. It also says that the existing structure of the Govt. accounts does not truly reflect the current activities of the Govt. in these Ministries /Depts.

What all is the Govt. hiding from its people ???
What is it really doing with the tax payers money ???

Section 2.4 Understatement of Balances under Universal Service Obligation Fund

The USO fund was set up in April 2002 for achieving universal service objectives of increasing tele density in rural and remote areas. The resources for this are raised through universal access levy which is payable by all telecom operators under various licences

A total Universal service levy of Rs. 20404.44 crore was collected during 2002-03 to 2007-08 by the DoT but a disbursement of only Rs. 6371.44 crore was made from the USO fund. Thus the closing balance of the fund on 31st March 2008 should be Rs. 14099 crore as against the NIL balance shown under that head !!!! The report says that "closing balance of the USO fund as on 31st March 2008 was therefore understated by Rs. 14033 crore "

hmm....

The report also says that this matter was presented to the parliament but no action has been taken

Where has this Rs. 14033 crore gone ???

Section 2.5 Overstatement of capital expenditure

The Govt. transferred Rs. 6500 crore in 2006-07 and Rs. 6000 crore in 2007-08 to the Social and Infrastructure Development fund (SIDF) for initiatives like upgradation of industrial training institutes, training of farmers etc. Thus entire amount was booked as capital expenditure in the accounts of these 2 years

The report says that examination of the expenditure of Rs. 3447.75 crore incurred during 2007-08 disclosed that Rs. 1586.75 crore was of revenue nature. It says that capital expenditure in the Consolidated Fund of India 2006-07 was thus overstated to the extent of at least Rs. 1586.75 crore. For 2007-08 capital expenditure of Rs. 6000 crore is overstated

This means that the Govt. is fooling us by telling us that they are spending our money on development where as they are really spending it on something else. Where has this money gone ?

Today is World Water Day - March 25th, 2009

• Don't waste water (usable, drinking etc.)... one drop per second, is equal to, 10,000 liters per year. That is about 60 days of individual water usage....
• Just take bath once a day....
• Make sure water is recycled to use it for plants, garden etc...
• Do not use water (which we see everyday morning in front of shops) to clean footpaths etc..
• Remember, water once lost cannot be got back!

Tata Nano launch today - March 23, 2009

I was reading this news, and also discussed in Twitter by certain people whom I am following... Tata Nano Launch, buyers to pay full amount on booking . Never in the world for any car, people have paid full amount to book, except Tata group. Earlier they did it with Tata Indica launch in 1998.

Definitely this is a middle class family car!

It is going to be an easy upgrade for the upper side of the bike owners.

The current bike sales in India is about 19 lakh units per year says zigwheels.com, with values ranging from Rs 35,000/- to Rs 1.5 lakhs.

So the upper end guys, upto 20% of current new bike owners, would look for a car at home! That too at the same cost.

Let us look at economics of wondering to own a car. The insurance and maintenance would be double than a bike. A family of 4 can travel at per kilometer rate of about Rs 4/- within city. Calculate at 20 kms per liter of petrol at Rs 45 and maintenance at about Rs 15,000/- for the whole year..... with a run of about 50 kms per day.

50 x 365 = 18250 kms, costing petrol of (45 * 18250/20) Rs 41,000/-. Insurance at about Rs 3600/- So in all about Rs 60,000/- for 18250 kms. That is about Rs 4/km with misc. exp.

That is double the cost of running a bike, and managing family in bus/auto.

They are expecting a 3 lakh car booking. First 50,000 cars to be sold in next 12 months. Particularly, BJP in Gujarat will show case it well, as the Sanand plant is going to come there.

Obviously some one, would come in with a black market plan to offer at a premium, if they win the lottery of allotment.

My best guess is, the fizz would run out, after one year and it would be normal delivery.

So I will wait!