Its been a month I posted a blog. When I was just thinking What should be by next blog.. it was Swamionics.Its not a Dictionary term. It is Swaminathan S A Aiyar + Economics. It became Swamionics.He is an acclaimed Professor and Columnist in Economic Times. I could miss anything but not his article on Sunday Times. If you would like understand the burning economic news in the simplest terms then you should read Swamionics.
I learned a lot about Inflation,Indian Economy and much more. This week the Article was about US bailing out Financila biggies like AIG and Feenie Mac, Freddie Mac and Fennie Mae. He argued that The US govt bailed out them to save the ordinary citizens who bought the loan and insurance from them, not to protect the Wealthy Share holders.because the shares are bought for mere money.He also mentioned that this is no way the same what Indira Gandhi did in early 70s by nationalizing the Indian Companies.Indira wanted the upper hand in the economy not in the welfare of the people.
Even Some days earlier When I read the news of bailout of AIG and others I thought that is the perfect Socialism, Isn't it ?. In my understanding, The Socialism is Government running the companies and sharing the wealth equally among all citizens.US supports Capitalism which runs the companies on its own with out the Governments Intervention. But In a Capitalist Country like USA something unusual happened. Now they are talking about more regulations.So far what did the Best minds of the World ( Americans always feel that they are the best in everything) do?. I think there are thousands of Economists and Analysts are there in US working on this for Quite long time.But Everyone failed miserably. Ok We will leave it.I would ask Americans to try to follow Indian Principles and practices. Even Though we are slow we will win at the last.
There is a famous proverb " Slow and Steady wins the Race".
Don't forget to read Swamionics next time when you read Sunday Times next time.