Wednesday, May 31, 2017

NMH Saga Enters New Phase

The Special Investigator submitted his conclusions to the FSC a few days ago without some parties telling their side of the story on the ground that the appointment of Mr. Taukoordass was inappropriate. Mainstream media has leaked that there could be multiple violations of securities laws involved. And that the report has been sent to the legal adviser of the regulator for advice.

Let's see what happens next.

Tuesday, May 30, 2017

Currency Policy Incompatible With Feline DNA


GDP per capita for Mauritius was only $9,142 at the end of 2015. That placed us at spot 68. We would have done a lot better had we not adopted a policy of 'competitive depreciation' for the better of thirty years. If we had kept our currency fixed at its 1985 level -- which was not too much to ask from a Tiger -- then we'd be 32 spots higher. Or just above the Arabia of the Sauds. And in the company of other high-income countries.

We were also stuck below the $10,000 threshold because the Sithanen flat tax has broken our economy. Had we kept on growing at 5.5% since 2006 we'd be seven notches higher. Fourteen if the 8% growth rates promised by the bean-counter had materialised.

In the meantime another Tiger has confirmed her stripes. A combination of high growth rates and systematic currency appreciation -- 60% over the thirty-year period -- has pushed Singapore ahead of Germany, Sweden and even Denmark.

Only dimwits will believe that 'competitive depreciation' is painless.

Tuesday, May 23, 2017

Longest Serving 007 Dies At 89

Was watching parts of Spectre again yesterday and reading about Daniel Craig. And found out about Roger Moore still being the longest serving James Bond -- Sean Connery remains my favourite. Was also thinking that I should research the third incarnation of 007 so that I'll eventually be able to write a decent obituary. Next thing you know the suave actor has passed away.

My first contact with Mr. Moore was in The Saint. Ah, that intro. We'd whistle it before and after the program. Several times. And at school too. He then appeared in The Persuaders where you'd see him with Tony Curtis week-end after week-end. It was one of the most popular series in the early seventies. The theme music was great too. 

Should find some time to learn a bit more about him. Like I did for this other icon.

Sunday, May 21, 2017

Wanna Know How Absurd the 15% Flat Tax Has Been?


Then consider our recurring water problems since its implementation. Government ran out of money and the efficiency of our water network didn't improve. As much as it should have. Had Sithanen's growth forecasts happened there would have been a lot more cash in the Government coffers. Enough to change 11,585km of leaking pipes. Given that there's only about 1,600km of them do the math and find out how Mr. Sithanen has turned the clock of development backwards.

Had Dr. Kontu not messed up our economy and we had kept on growing at a very reasonable 5.5% there'd be an extra of Rs51 billion of cash in the Treasury. That would have been enough to change all the leaking pipes more than two times.

So it's a money problem. Not a management one.

Friday, May 19, 2017

AMCCA Says MK Flying Understaffed Planes



They're saying there should have been one or two more cabin crew resources on each flight. And that all of this stems from bad planning. It's not the first time they are voicing out these concerns.

Sunday, May 14, 2017

Madhuri is 50



Tomorrow. That was her comeback movie five years after having moved to the states. The NYT remarked then that the dance queen still got it. Other famous people hitting the big milestone this year include Jurgen Klopp, Julia Roberts, Benicio del Toro, Anderson Cooper, Vin DieselCarrie-Ann Moss and The Wachowskis, Bobby Deol, Carla Bruni, Jason Statham, Nicole Kidman, Pamela Anderson and Akshay Kumar.

Plus another 20 million people. I'll try to put their names later today.

We should have a special thought for all of our freedom-fighters this August. And a month later the BoM will turn 50. Hopefully it will not celebrate the event by depreciating our rupee.

Thursday, May 11, 2017

How A Referendum Would Deepen Our Democracy

There are some issues that are really fundamental to our well-being and these are better addressed in a referendum. Especially when they are not discussed in manifestoes and electoral campaigns. Here are four.

1. Tax policy can break an economy and send a country to the dogs. Which is what the Sithanen flat tax has done. And that too without asking us for our permission. 

2. Currency policy. Only morons believe that competitive depreciation is Tiger stuff. Plus it matters a whole lot who call the shots at the BoM. For example in 2010 we were told that Manou was coming back. We didn't know depreciation-obsessed Basant Roi would after 2014.

3. Party lists are the equivalent of an English Premier League without red cards. We don't want them.

4. Privatisation of any part of our public utilities or other national assets. A government that wants to sell the CWA because it doesn't like its hotline is a good-for-nothing government.

Monday, May 8, 2017

Poll Finds Nobody is Satisfied With Lepep


11 out of the 12 participants were not satisfied at all. They have many reasons not to be.

AGF Should Step Down


She's staying put. For now. But several opposition parties want her to go in connection with her involvement with Alvaro Sobrinho. If Collendavelloo is sacked pressure will mount for her to tend her resignation. But that might not even be necessary.

Poll Says Almost Nobody Will Follow Collendavelloo Into Opposition


If he was to be sacked as Minister. It's a very small sample but we can compare it to the actual events when they happen. Hopefully very soon. All 12 poll participants thought Husnoo would stay in the PJ government. No big surprise here. Fowdar and Benydin (Toolsyraj is the correct name, sorry) are not expected to accompany the leader of the kare kare party. Fowdar is dead against the privatisation of the CWA -- wonder what he thinks about the private companies that the CEB has just set up -- while Benydin has been a union boss for a long time.

Boissezon is a Minister for the first time. Don't see him leaving this behind. Especially when you consider that the ML should join the Dodo on the list of extinct animals shortly. Looks like Rutnah might not stay back. But that was before he said that he was a little fed up with the party. He has also showed up at the Line Barracks before to express support to his "elder brother" Rama Valayden and told the media that he was not desperate about being an MP. Plus if Boissezon leaves Rutnah could get his portfolio.

Gayan should be the only one following IC into the opposition. So overall PJ's majority should improve a bit. And we might get 2-3 new Ministers.

Sunday, May 7, 2017

Why Le Pen Has Already Won

If Macron wins by a 20% margin today, the FN would have cut the 64% gap of its 2002 loss by almost 70%. That's a tectonic shift.

And who says the margin will be that wide?