CHAN AKYA

September 2, 2010

"Do not be very upright in your dealings for you would see by going to the forest that straight trees are cut down while crooked ones are left standing." - Chanakya (350-275 BC)

For more on the original Chanakya, the inventor of skullduggery, click here.

India's Predictable Larcenies (IPL)

The Indian Premier League cricket tournament has over three years gone from a zero revenue base to US$1 billion in television contracts. With that, corruption, politics and sex have come to the hugely popular event. Yet again, an emerging market has shown it is able to supplant the developed world, and yet again the effort founders due to an inability to adopt adequate governance standards.

(Apr 23, '10)

Undead crisis walks again

Following last week's fraud charges against Goldman Sachs by the US Securities and Exchange Commission, anyone who had considered the financial crisis to be virtually over will now have to contend with the risks of owning bank shares. European and Asian "suckers" are considering their legal options and a spate of lawsuits looms. Meanwhile, the global stock slump set off by the news continued in Asian trading on Monday.

(Apr 19, '10)

Lewis comes up short

The Big Short by Michael Lewis
The celebrated author of Liar's Poker returns to his old hunting ground of the financial markets to chase down the characters who saw the financial crisis coming and backed their insights with hard cash. The "who" and the "how" are vintage Lewis. Missing, unfortunately, is the big question - why?

(Apr 16, '10)

The perfect crime

Rating agencies, for all their role in fueling the financial crisis, survive essentially untouched by subsequent regulation. If ever there was an issue for Asian countries to take a lead on, the pursuit of truth in credit ratings is it.

(Mar 26, '10)

Liar's punishment

Deceit at the highest levels increasingly appears the norm - from the nonsense of Greek debt figures to the accounting sleight of hand that US regulators accepted at Lehman Brothers. Capping them all, perhaps, are impossible claims that exports will haul the world into full recovery. The lesson? Believe no one, sell everything (except solid precious metals). And distrust even this warning ...

(Mar 19, '10)

The blame game

European governments scrabbling for a way to resolve the Greek debt crisis are focusing on the role played by peddlers of credit default swaps. Money was certainly there to be made by those who anticipated events, but government energies could be better spent. As that ancient Greek, Sophocles, put it, no one loves the messenger who brings bad news, but that's no reason to shoot him.

(Mar 05, '10)

Asia's permanent advantage

Traveling around Asia quickly teaches that "growth" is more than economic statistics - it increasingly means efficient airports, good roads and quality service that mock the "developed" world. Asia, with the financial muscle and determination to continue this trend, is developing an apparently permanent advantage, leaving Europe and North America ever further behind.

(Feb 26, '10)

Oedipus wrecks

The European Union's public pledge of support for Greece makes clear to the rest of the world that, off-stage, there is no government in Europe, let alone one that is effective or coordinated. Currency death and economic pain among this family of nations has just started as the latest Greek tragedy works towards its climax.

(Feb 12, '10)

The hair of Damocles' sword

United States Treasury Secretary Timothy Geithner's future in office might be short, with a warning by Moody's Investors Service that the US is at risk of losing its triple A credit rating giving more ammunition to critics of his handling of the financial crisis. Whoever his successor, humiliating deals with China are likely to remain part of a thankless workload.

(Feb 05, '10)

Vestigial organs

As governments in the United States and Europe figure out how to bail out their struggling states - California and Greece are the prime candidates for failure - the rest of the world can consider the human body's vestigial organs, such as the appendix, and wonder if such a fate awaits the US dollar and the euro.

(Jan 29, '10)

Bonus battles

The popular view that bank bonuses represent greed, gluttony and perhaps lust ignores the factors allowing banks to make such money - central bankers' sloth and government pride in their financial systems. When the bonus drama ends, it will be because people realize the true culprits are, indeed, governments.

(Jan 22, '10)

Nine pins from '09

The ghosts of the year past are wasting little time in making their chilling presence felt on the investment outlook for 2010. From Alcoa's earnings results to China's monetary tightening to increasing preference for cash, the harbingers are spooky at best.

(Jan 15, '10)

What's in a name?

Renaming the world's tallest building to honor Dubai's financial rescuer may mark the death of a non-resource-based model of development in the Arab world. It could also serve to encourage other similar changes - RBS could be renamed the People's Bank of Britain, or California (given the right terms with China) could become Xinjiang (West).

(Jan 06, '10)

It's who you know

Perhaps the best way to summarize 2009 would be to look at the obvious winners, such as Wall Street and Big Government, against less obvious losers, such as taxpayers, the unemployed and small businessmen globally. With the Japanese way of capitalism well established, the year could be remembered as sowing the seeds of the longest depression the world has seen. While that may be an awful thought, think what will need to happen to end such a depression.

(Dec 23, '09)

How to solve climate change

The failure of the Copenhagen summit on climate change is exactly as expected. Whenever people try to come together and solve an issue that is of importance to all of humanity, the binding force has to be greed or fear; but never altruism. There isn't enough fear in climate science yet, so an economic approach is the only one that could have worked.

(Dec 21, '09)

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THREAD: Re: does Australia hate Muslims?
Chan Akya
(Aug 18, '10)
Thanks guys. CA
Read full post/respond
THREAD: Re: does Australia hate Muslims?
Ian Purdie
(Aug 18, '10)
At the last one (2007) I seem to recall a scandal when the spouse of a Liberal (conservative) MP holding a seat in a region of western Sydney (a region traditionally domi...
Read full post/respond
THREAD: Re: does Australia hate Muslims?
MonsoonWind
(Aug 17, '10)
Chan Akya wrote: Can someone enlighten as to their views of whether an undercurrent of resentment against Muslims has been evident or even mentioned in the debates aro...
Read full post/respond
THREAD: Re: does Australia hate Muslims?
Chan Akya
(Aug 17, '10)
Can someone enlighten as to their views of whether an undercurrent of resentment against Muslims has been evident or even mentioned in the debates around the Australian el...
Read full post/respond
THREAD: Re:Obama's battles in Asia
Chan Akya
(Aug 17, '10)
I have much respect for the work of Yves Smith. Her blog, naked capitalism has been a wonderful source of information and analysis for the past few years. CA
Read full post/respond
THREAD: Re:Why Americans hate Muslims
MonsoonWind
(Aug 17, '10)
Ian Purdie wrote: What did you personally do toward helping you team? What team Ian? I am a non-partisan freelance!
Read full post/respond
THREAD: Re:Why Americans hate Muslims
Ian Purdie
(Aug 17, '10)
So am I BC; and when it happens I won't be popping any champagne corks! I will, because I've worked my guts out for it and for those who don't like a Gillard win? Wh...
Read full post/respond
THREAD: Re:Why Americans hate Muslims
MonsoonWind
(Aug 17, '10)
Basic Channel wrote: PS. Tipping Julia to win. So am I BC; and when it happens I won't be popping any champagne corks!
Read full post/respond
THREAD: Re:Why Americans hate Muslims
Basic Channel
(Aug 17, '10)
Haha, I actually used to be very liberal in my views (used to always vote Greens at the few elections I could have) and used to dislike John Howard, which I still do. I...
Read full post/respond
THREAD: Re:Why Americans hate Muslims
Ian Purdie
(Aug 17, '10)
As for visa overstayers, I urge you to make a sharp distinction between these and the illegals. I have personally known several of them over the years - all good people. ...
Read full post/respond

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India's Predictable Larcenies (IPL)

Undead crisis walks again

Lewis comes up short

The perfect crime

Liar's punishment

The blame game

Asia's permanent advantage

Oedipus wrecks

The hair of Damocles' sword

Vestigial organs

Bonus battles

Nine pins from '09

What's in a name?

It's who you know

How to solve climate change

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