2:13 PM
US A MA
Jobless plus Hopeless
An interesting thing one executive said was that there is no shame in work, but there's plenty of shame in waiting for charity.
The Ultimate Currency War
After the 2008 financial crisis, the liquidity trap induced policymakers to venture in unconventional endeavors. On the fiscal front, much has been discussed regarding the effectiveness of fiscal policy to pull developed countries out of the sluggish recovery.
Not giving Gold Medals in KU Annual convocation 2011 -A very good Decision
Its a very good decision by KU Administration to not giving gold medals to the position holders because everyone knows how they got positions in their respective discipline. Karachi University administration said that due to unavailability of sponsors we are unable to give gold medals to position holders.The main cause behind no interest of sponsors in giving sponsorship for gold medal might be they knows about checking system in KU.They have seen that what KU's gold medalist do in market after passing out.
A mighty question mark on PML-N " Merit Laptop Scheme"
All Pakistan knows better that what is the main motive behind these "SASTI ROTI" and "MERIT LAPTOPS" schemes.Just "1" vote from every individuals.
Monday, March 25, 2013
Atif Aslam all set to wed Sara Bharwana this week
Cyprus- Bailing out Economic Bubble
Paul Krugman summarizes the origins of Cyprus' problems in (here): the banking system, a housing bubble and an overvaluation. He
says that it was as “if Cyprus has managed to combine in one place everything
that has gone wrong elsewhere”. One could add policymaking to it.
I’m from a country that had (and
has) “creative” policymakers. We’ve seen a lot here. Especially during hyperinflation-years.
But, what I see emerging from a small island can put all the wrong Brazilian
attempts behind. It just scares me.
The way out found by Cypriot
policymakers
was to tax deposits to help pay the bills. I’m not kidding. They’ve
decided to
impose a suddenly loss of wealth in country lacking competitiveness (the
overvaluation issue), whose problems emerged from the banking system,
though it still depends on financial services, while housing
prices are correcting the distortions brought by a housing bubble. But
there’s
more. It is a country that does NOT have monetary policy to fight
recession and whose government finances are problematic.
If it wasn’t enough, it brings the
fear of a banking run. A banking holiday was instituted to contain the damage.
Well, good policies would be a better way for containing the damage. Furthermore,
it raises problems outside of the island. Cyprus participates in a monetary
arrangement called Euro zone.
The Cypriot policy brings uncertainty
to what could happen in other problematic countries. The possibility of a banking
run in Cyprus, or the mere thought that something similar could be done in
another country, could trigger the end of the time brought by Mario Draghi’s whatever it takes.
The problems in the Euro Zone were
far from being resolved, but at least markets were calm enough to provide
European policymakers time to waste. I wonder what’s coming.
