The Governor of the Reserve Bank of India has muttered the usual BULL:
...government aims to keep the fiscal deficit at 5.1% of the GDP in 2012/13 fiscal year...
What SENSE does this make?
The government BORROWS - and PRINTS.
The Gross Domestic Product (GDP) is never accurately arrived at, nor is the STATISTIC available on time; that is, PRIOR to all this borrowing and printing.
So, what do the chaps in government AIM at?
What else - but BUDGET-MAXIMISATION?
NOTHING ELSE.
And this alone is the role of the central banker - to fund their Big Budgets with his "funny money."
So, what do WE make of this claim on the part of our central banker?:
...the central bank’s effort will be to rein in inflation while supporting growth...
If you knew the Science of Economics - as against the nonsensical national-socialist Keynesian "macroeconomics" - you would insist that what this chap actually does is:
The central bank's effort is to support GOVERNMENT GROWTH while CAUSING inflation.
Further: There is absolutely no mathematical/statistical method by which these chaps can accurately forecast how much inflation they will actually cause.
The amount of inflation that occurs - and this differs over the wide range of goods and services that come to market - comes as a COMPLETE SURPRISE to central bankers as well.
Thus, when any of these chaps - or their minister - promises to "bring down inflation" to such-and-such per cent: DON'T BELIEVE HIM!
On now to the socialist Supreme Court of India. A report on their latest socialist pronouncement begins thus:
The Supreme Court on Wednesday gave the government a week to come up with a timeline for implementing its new drug-pricing policy, which proposes a national list of 348 essential medicines, the prices of which will be regulated.
This is "for the poor," of course. Who else? After all, EVERYTHING they do is purportedly for the poor.
But when all their WELFARISM is financed through INFLATION it becomes obvious that socialism is precisely what Frederic Bastiat called "false philanthropy," adding that the MEANS they employ are "legal plunder."
Read Bastiat's The Law.
People are poor - and sickly - because SOCIALISM and INTERVENTIONISM are both CAUSES OF POVERTY.
Further, INFLATIONISM makes things even worse - especially for the poor, whose savings get eroded in value.
What are these "348 essential medicines" anyway?
And what is the point of "price regulation" in this area when INFLATION RAGES?
Not that this socialist Supreme Court ever found the notorious Foreign Exchange Regulation Act "unconstitutional" - for they know nothing about HONEST MONEY.
In my opinion, good, cheap BEER - fresh, frothy draughts locally brewed - would be FAR BETTER FOR THE HEALTH and the poor would save on both doctors as well as all these 348 very cheap pills.
Some insist The State must ensure "generic drugs" are sold for the poor - which means pills without brand names. This, when nothing is TRUSTED for QUALITY unless branded - not even by the poor. Even their bidis are branded. And I am positive good ganja is a thousand trillion times HEALTHIER than all these foul bidis - just as good, fresh draught beer, locally brewed, is far healthier than all the harsh grogs of country liquor poor people are FORCED into drinking, only because of taxation and licensing.
Freedom is healthier than State Controls, because WE can then make the healthier choices - so do read this excellent article that shows how the health of Americans has deteriorated after their Food and Drug Administration was established, by legislation, of course.
Freedom is healthier than State Controls, because WE can then make the healthier choices - so do read this excellent article that shows how the health of Americans has deteriorated after their Food and Drug Administration was established, by legislation, of course.
What will happen when some of these unbranded generics turn out FAKE - and cause injuries or even deaths?
Whom will the COURTS prosecute?
THINK: A group of ministers (the usual group) will go about INTERVENING in the business affairs of pharma companies - as nothing more than a PUBLIC NUISANCE.
Socialism is ANTI-SOCIAL - always.
So, let me get down to the Comptroller and Auditor-General's (CAG) Report that I would like to read, and SOON:
Which is THE EXACT AMOUNT of their debt monetisation as well as borrowings, expressed in rupees - and NOT as a percentage of GDP, another of their concocted absurd "measurements of the mythical national economy."
GENUINE ACCOUNTS!
