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The Outsider

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The Outsider last won the day on November 2 2015

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About The Outsider

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    Mon, 05/24/2010 - 23:19

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  1. The Outsider

    Modi sarkar economic reforms/governance performance thread

    The economy has been ruined by the buffoons from Shakhas running the government. If demonetization was a train wreck, GST is slow poison. It is so horrendously complex that will drive lakhs of SMEs out of business. A tax system is successful if the rates are reasonable and the structure simple. GST is a nightmare, the effects of which are just starting to trickle through. Firstly, the logistics. The site keeps crashing and can't handle the load. The FM tries to lay the blame on the people for filing at the last moment. Well, duh, that happens with any tax in the world. People file during the last few days. It's human nature, but there is another important point in context of GST and why this is a disaster. Liquidity. People file at the last minute because they want liquidity in the business. These Shakha buffoons don't know that one of the main reasons for the 2008 crisis was liquidity and since then governments and financial systems try to ensure liquidity. 90k Crores of tax was deposited in the first round of which 60k Crores is input credit the government is supposed to return. Small businesses don't have the kind of liquidity to wait for 90 days for the government to return money. By the time people start getting their money Rs. 200k Crore would have been sucked out of the economy. Which brings us to the next point, where these Sanghi buffoons will screw things up. They've already started casting aspersions on the large input credit being claimed and said they will investigate these claims. This means a further delay and harrassment. You can't run an economy on the assumption that everyone is corrupt. It has to be the other way round - prove the tax evasion and punish the guilty. The filing system itself is so horribly complex that only CAs will benefit from it. The structure itself is asinine and literally hundreds of inconsistencies have been pointed out by people. But besides that it will completely kill small online enterprises. People running small portals to supplement their income, as a dabbling venture, or a hobby will simply not be able to afford the cost of complying with GST. Of course, GST is but one example of handing over the economy of the country to a bunch of trishul carrying Sanghis. The unfolding Jaypee fiasco is another. There is no provision in the bankruptcy law to deal with assets like real estate which have been given as colateral twice - once by Jaypee and also by the home buyers. According to the law, home buyers aren't entitled to shiiit. Now, we will have another case of judicial overreach where the judiciary will give a whimsical ruling in an effort to cover up a poorly written law. And Jaypee is just the start. If there is any hope to save the banking system in the country, more such companies will need to be brought out. Problem is they have already siphoned the loans and will leave tens of thousands of homeowners in the lurch. And yeah, the fuel prices. With exports languishing, only a government run from Shakhas will keep fuel prices so high. No economy has seen sustained growth without strong exports. Ever. A strong rupee and high fuel prices is a recipe for disaster. You can't grow an economy and by high taxes and government spending, when it is proven that government has the worst efficiency in spending. I pity the fools who thought they were electing the second coming of Friedman in 2014. This government's economic policies would make Marx proud. Demonetization impacted the poor the most, the slightly well off and middle class managed through it and sang paens of nation building. The impact will creep up to them soon, it is already starting to with the worst jobs outlook ever and impact on home budgets due to GST. It will accelerate unless the second coming of Milton Friedman prostates in front of Sardarji and begs him to help repair the economy which he has destroyed, because it's obvious by now what the cowshed owners running this country know about the economy.
  2. The Outsider

    500 & 1000 rs notes stopped from tonight

    Those aren't from WhatsApp forwards. They are all quotes from Bhakts in this thread. I am sure there are a couple of gems from you there as well. Oh yeah, one is about this being a country where people commit suicides to get loans waived off, so what if few are also dying standing in lines to get access to their own money.
  3. The Outsider

    500 & 1000 rs notes stopped from tonight

    There was no objective to demonetization. New objectives were concocted everyday as and when previous ones were shown to be bunk. Has happened to digital transactions as well now recently and tax collection. The expansion in tax base is at a similar rate as before demonetization. There is only one proven way to increase tax compliance - a reasonable rate and simple tax structure. Bhakts like you can keep on pointing to some fictitious gains years from now, but the ground reality is that demonetization has destroyed the economy, left millions jobless, and caused grief to hundreds of millions of people.
  4. The Outsider

    500 & 1000 rs notes stopped from tonight

    This thread should be preserved so that when years from now this madness ends, and people are doing research to see how retarded Modi bhakts were this can be put to use. Nano GPS Technology. I mean what level of a retard do you have to be for this one. Why Rs. 2k? Economy of scale so that Nano GPS technology can be worthwhile. Retard level - Uber. Daily wagers won't see any impact because they don't get paid Rs. 500. Sure, because there are tons of Rs. 100 floating around! Impressed with planning. People won't be inconvenienced because it's after Diwali. Sale of gold and diamond will decline. Corruption will reduce dramatically. Only few days of chaos. Opposition is against it because they are all corrupt. BJP is the cleanest party in the solar system. UNESCO certified. Surgical strike. Yay! Mr. Crorepatis will become Mr. Lakhpatis or go to jail. 30th December, twenty sixteen. Judgment day. It's most certainly going to be a Happy New Year for India! You can bet your white money on it! The real chors are screwed now. Hawala finished. Kashmir agitations solved. Stone pelting finished. Scheme to end black money is working well because negative reaction is increasing. Government should freeze money of Jan Dhan accounts, so poor cannot access their money. Fake currency racket ki dukaanein band ho gayi hain. This is like war against black money. We are soldiers standing in line fighting the enemy. Some genius calculations estimating currency will be replaced by December 30. Corrupt have lost all their money. Honest middle class feel rich. Poor will suffer for month or two, but after that will be well paid in better jobs. Possibilities are endless. Any slippage in GDP will be recovered in next quarter. After demonetization, everyone is clean. Rejoicing that Arhar Dal prices have come down to half. Yeah, because farmers were dumping their produce in trash. Government is changing rules daily to combat black money hoarders. This is like guerrilla warfare. Real GDP growth will not be effected. Terrorist snakes will be defanged. Anyone against this has skin in the game or is doing politics. D-company is screwed. Fake money is gone. Rs. 2k note was leaked strategically on WhatsApp by government so hoarders will hoard more money. Economic chemotherapy. I am so thrilled my sabziwala got PayTM. Demonetization rocks! 80% of counterfeit currency comes from Malda that's why Mamta is whining. Niti Aayog has far superior economists than MMS. GDP will be down only by 0.25%. Government should do this regularly without revealing. Will keep black money hoarders on their toes. I feel so good that I am using only checks and credit cards for payments. Guys who are converting black into white will be so done. People standing in line with me were feeling so proud. Ambani wasn't there, but the PM's mother was put up for a photo op. People also die while voting, so what is they are dying while taking out their own money. This is Artha Kranti. Whatever the faack that is. The cashless economy! Pakistani counterfeiters are committing suicides. Some genius was arguing more money coming back would be a windfall for government. More is also windfall, less is too. NPA problem is effectively over. No riots when Jayalalitha died because all the black money is gone. Government seeing all the money flooding in - 'you can't deposit more than 5k now in an account'. Bhakt - 'Masterstroke from Modi. If you haven't deposited till now, it's black anyway'. Growth will hit 10% in 2018. Impact will last max 4 months. Trafficking industry is finished. It was 20% of India's GDP. With data analytics all the tax evaders will be caught. This is a country where people commit suicides to get loans waived off, so what if they are also dying while trying to access their money. Modi tried to do something about fake and black money. That is a great development. What happened to the poor and the economy, why would I give a facck. I buy sabzis using PayTM.
  5. The Outsider

    500 & 1000 rs notes stopped from tonight

    I know this doesn't get taught in shakhas, so here is my good deed for the day. When people put money in banks, banks are supposed to pay interest on it. To do so they lend out that money (keeping some buffer) at a higher rate to businesses and individuals. That's how banks make money. When so much of money comes into banks, they can't find enough borrowers for it but they still have to pay interest on it. To minimize their losses, banks deposit this excess cash with RBI to earn interest at a rate called reverse Repo. This money comes from the tax payers and what you are calling government treasury. So, the government treasury didn't get any money. On the contrary it is paying interest on all this excess cash which includes black and white money. This excess loss will be in tens of thousands of Crores per year if the money isn't taken out. This has put additional stress on banks which were already in trouble. Of the money that has been deposited some is black, but there is no way the government treasury is going to earn any significant taxes from it. The reason is that the IT department convicts around 25 people per year on average. Any recovery from this is going to be minuscule. Even if you ignore the loss to human lives and economy, demonetization is a loss making policy decision from a purely balance sheet perspective. This can already partly be seen in the fact that the RBI dividend to the government this year was 40,000 Crore rupees lower than expected. So so now you can forward this post in the Sanghi WhatsApp groups which told you that money has come into the government treasury and maybe some of it will filter through the cow dung in the skulls of Bhakts. You are welcome.
  6. The Outsider

    Anti-Defection Law: Death of democracy

    My NRI stalkers have made their appearance as well. Speaking of pegs, where do you source your cowp!ss from?
  7. Actually, the quote is, 'I am not sure about the universe'. Radhika's link, if anything, proves my point. Bulk of the admissions are from Chennai and other urban centers which have access to CBSE schools and coaching. Firstly, there is no evidence to suggest CBSE/NEET is better than TN board. Secondly, and more importantly, even if it is then this is like putting the cart before the horse. More privileged people will get admission this way who will then go abroad or set up clinics in urban centers. The well functioning health care system in TN will be destroyed because there won't be doctors to work there. As for evidence that TN health care system is one of the best in India, you can look up comparisons of HDI among different states. Instead of making the entrance criteria so to include more rural and poor, this is excluding them just because they don't have access to CBSE schools and are too poor to afford coaching.
  8. The Outsider

    500 & 1000 rs notes stopped from tonight

    The guy thinks the money is in government treasury. Why even engage such morons? And in the next post he is out to prove that he is a moron by running down Congress for 60 years and saying electability is a measure of performance for BJP.
  9. Though Einstein did not say it and it is attributed to him, it is suitable here 'If you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid'.
  10. The Outsider

    Travelling in the US

    Get a license. You can drive with Indian license for six months - use it to rent a car in the meanwhile. In all aspects - variety of places you can go to, cost, and time - driving is the best option in the US. Till you do that you can visit cities like San Francisco, New York, Boston, DC where you can do a lot of sightseeing without driving. But for even sort trips outside of urban centers, driving is the best option. Public transport in the US is pathetic in general.
  11. The Outsider

    Anti-Defection Law: Death of democracy

    I don't post all that much in cricket or chit chat. It's perfectly fine if you consider my posts on politics to be rant filled or hit pieces. As for rational arguments, I have time for people like you if you want further elaboration on arguments, that you don't find rational. But don't expect me to engage in a polite manner with bigots. Please don't expect me to normalize RSS and its bigotry. You just have to read their history and literature to see what they stand for and what their vision is for India. Modi is the best chance they have got till now, and they are not going to let go of it easily. With the meltdown of UPA towards the end and the clamor for change, it was understandable that otherwise decent people gravitated to give him a chance overlooking his past bigotry and hatred in the name of development. But if you are supporting Modi today after he has wrecked the economy and hoisted a hatemonger like Yogi as UP CM after asking for votes in the name of development, then you are supporting bigotry. If you are supporting Modi after he made a woman strip in front of RBI so that she could deposit Rs. 4k, while all the black money has been laundered then you are supporting dehumanization. So let me know on which points would you like rational arguments - the atmosphere of fear where Muslims are afraid to carry meat for lunch, the economic disaster wrecked by demonetization and other economic policies, the dangers of Aadhaar, the imposition of Hindi etc. and I'll try my best to oblige. Anyhow, this thread isn't about the anti-defection bill anymore so might as well put it to some use.
  12. There is nothing 'ironic' about it. I guess you meant contradictory, but they are not contradictory either. TN has one of the, of not the, best education and HC system in India which has allowed them to reach a level of HDI comparable to western countries on many parameters. And yes, there is proof that NEET favors CBSE set up. Search online and if you can't find evidence, I'll help you. JEE and CAT also favor the privileged disproportionately, but they've become too ingrained anyway. We can have a separate discussion on them. This is about destroying a perfectly well working, rather model in Indian context, health care and education system so that privileged upper castes can get through.
  13. The Outsider

    Anti-Defection Law: Death of democracy

    They can still be saved by allowing individual legislators to vote independently on all aspects at their volition except ones where the incumbent government will fall which would be money bills and vote of confidence.
  14. The Outsider

    Anti-Defection Law: Death of democracy

    Oh look, my Ravishing Sanghi stalker! How are you doing? Enjoying the nanga taandav of Hindutva terrorism while sipping that Gaumutra? Aaj ka jaam Gauri Lankesh ke naam!
  15. The Outsider

    Anti-Defection Law: Death of democracy

    Signature? No, I am anti BJP quite openly and blatantly. There is nothing in Indian politics I despise more than RSS. However, my posts are about their policy failures and their ideological poison, not about fictitious losses suffered by my family due to them. And funnily you choose a thread to make those personal attacks in a thread which attempts to discuss a law enacted by the Congress rather than the BJP.

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