Thursday, March 31, 2011

Kozelidir Free Guide To Understanding The Infamous Stimulus Package

We did not need one in the first place as our banks were making record profits and did not have toxic assets on their balance sheets thanks to the relative primitiveness of their operations. Besides what was marketed as proof that the Sithanen/Mansoor reforms had been successful was merely a flash in the pan. The trouble we got into here was instead due to the work of a White Swan.

The ASP, for sure, could have been more transparent. But it didn't take long before it became redundant.

Claims of it saving as many as 4,700 jobs are easy to disprove while MPs now want hear from Mansoor.

And a lot of people want to hear from Cader.

Wednesday, March 30, 2011

MPs Want Answers From Financial Secretary

About the Rs340 million of public funds that were injected into Infinity BPO via Sithanen's infamous stimulus package. See, BPO is a growth industry so technically it should be the last quarters from which request for government aid should have come from.

Which would explain why MP Deerpalsing has asked, albeit belatedly, for the monitoring committee of the ASP to explain how they've been... monitoring these significant public monies that were apparently invested to save... jobs.

Tuesday, March 29, 2011

Proposed Hike in Water Charges Has No Basis

Beebeejaun's intention of raising the price of water by 10-20% is not justified. See government has already been abusing us with prohibitive fuel prices for way too long. Add to this one Ramgoolam who promised in November 2007 to change his name if we kept paying punitive electricity prices. Not only prices didn't go down but they went up by a full 10% last year. And the PM has kept his name.

Enjoy the vision.

Coordination Allowed BOM To Increase Repo By Only 0.5%

With the Treasury that is. See pump prices go down by a couple of rupees tonight and this enabled the MPC to raise its policy rate by only half a percent to 5.25% to help set monetary conditions to a level which is not consistent with double-digit inflation by the end of 2011.

So it looks as if Pravind Jugnauth has understood that his last budget was inflationary. And he is not the only one to have made an about-face on the price-stability issue. Indeed, gran frer gran malelve appears to have also recently discovered the joys of low inflation.

Basant Roi Can't Figure Out Big Rise in Foreign Debt

So he said on Radio+ a few minutes ago. He finds this the more surprising given that the banking system has been witnessing excess liquidity for some time now. Government could instead have borrowed locally. What does the FS have to say about this?.

He also mentioned that he enjoyed working as Governor with Paul Berenger in Cabinet as the latter never meddled in the affairs of the Bank of Mauritius. Give us a break!

Boolell: We're Not Here To Serve Fat Cats

That's what he said at the Annual General Assembly of the Mauritius Chamber of Commerce and Industry a few days ago. He added that our economic policies need to be reviewed and highlighted anti-competitive behaviour by some economic players.

Sounds good. But is this something that he has now carved on his DNA or just another speech to fool us?

Monday, March 28, 2011

Repo Rate Raised By 50 BPS To Prevent Second-round Effects

As widely expected, well, save the JEC. BOM's primary objective being price stability it had little choice to raise the repo rate to 5.25% as inflation had been on the rise after Pravind Jugnauth's budget. Besides monetary policy operates with a lag and inflation is like...radioactivity.

Wednesday, March 23, 2011

Liz Taylor Dead At 79

That's making front page news on NYT's website right now. She was suffering from congestive heart failure.

A two-time Oscar Winner she was considered one of the world's most beautiful women in the 1950s and stayed friends with Michael Jackson through thick and thin.

Read the updated entry on wikipedia and watch a short movie of her life

Tuesday, March 22, 2011

BOI Chairman Calls Mauritians Beggars

In an interview published yesterday. That's an insulting and highly inappropriate statement especially for someone who travels the world over seeking investments into Mauritius. He should apologise and tender his resignation.

What do you think?

Sunday, March 20, 2011

BRIC and Germany Say No To Military Action in Libya

But this still get the go-ahead as the other 10 members of the Security Council approves the UN resolution.

What are your views on this?

Friday, March 11, 2011

Wednesday, March 9, 2011

Nobel Puts Feet in Mouth

By making vague pronouncements on a subject he knows very little about: Mauritius. He also came on TV and said we're doing fine because our unemployment rate is apparently 2% lower than the one in America. Nuances of the kind we expect from a Nobel were totally missing. 

Given that he was locally marketed as one of the architects of the successful Clinton years it's a real pity that he failed to connect some basic dots. Isn't that a case of the great man's disease?

Saturday, March 5, 2011

How Dysfunctional is Our Mainstream Media?

What Did You Think of Ramgoolam's Speech at Ganga Talao?

I didn't get the opportunity to listen to it but some people weren't impress at all. The PM's best friend, Rabin Bhujun, has suggested he would be better off speaking in creole. Anyway here is last year's speech.

DSK Explains Brazilian Resilience

As a combination of three factors in a press communique released 2 days ago:
  1. Fiscal responsibility
  2. Inflation targeting
  3. Flexible exchange rate
Would Ali Mansoor kindly explain to us how we've been doing on these since he was given the job of Financial Secretary by his university buddy 5 years ago?

LSE Director Quits Over Links With Gaddafi

Thursday, March 3, 2011

Jobs Walks on Stage, Apple Up By $3

Prayer Never A Substitute For Basic Management

Unlike what some of our pusari-politicians would have us believe. See, water stopped running almost as soon as Char Pahar Ki Puja ended this morning.

Tuesday, March 1, 2011

Vipassana Forges Stronger Mind-Body Bond

Than dancing. So concludes a study by Berkeley psychologists published recently. So, go ahead and listen to your internal sensations.