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Buffet, Lynch and other legends - Investing Strategies
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ungboysj1
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Quote ungboysj1 Replybullet Posted: 19/Dec/2011 at 8:48am
Originally posted by FutureBull

ungboys1, I do not agree that giving poor the food is the only way of eradicating it. I have traveled to Africa once and I talked to couple of biz men there and the biggest complaint was "people here are very complacent and mediocre". Folks in general in Africa do not strive to work hard because they do not have ambition. We are actually bringing that kind of mentality here. Poor people in rural/urban India have lots of opportunity to earn and feed themselves. NREGA was more than enough as one has to work to earn his/her meal. If you give meals easily it takes away motivation to do better and society in general becomes worse off.
We do not need to be embarrassed for our well being. This is how capitalism works. FSB is nothing but distribution of poverty to everyone not the eradication. We as common people will pay by higher taxes and inflation but would get nothing in return.


You may not agree and have your own opinion but everyone in democracy have their own , that is why we have parliament there and other democratic institutions , they have the power given by majority to decide what's good for the country and its people

They are just giving away free food for their survival not giving them a luxurious life , may be if they don't have to worry about food , they will send their kids to school and things will improve

This lazy argument doesn't hold for me , tell me will you stop working if you were guaranteed free wheat & rice only for rest of your life

I don't believe this Africa thing you state so you want to say that people there are ready to die and let their kids die but not work and as we normally see Black people are physically much stronger & hard working than other races
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FutureBull
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Quote FutureBull Replybullet Posted: 19/Dec/2011 at 9:23am
> Opinion of the majority is not the right one always.

> There is not a single govt. scheme which has been efficient to achieve its objective

> I will not because I'm not just motivated by better food but many other things

> I was talking about society in general.Blacks are physically strong but you need motivation to work. Many African countries have better HDI index and natural resources but poorer than us. What does it say?
‘The market always does what it’s supposed to — BUT NEVER WHEN’.
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ungboysj1
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Quote ungboysj1 Replybullet Posted: 19/Dec/2011 at 10:05am
Futurebull ji,

But who is going to decide which opinion is right or wrong, that's why we have elections and parliament, don't we?

Isn't it goal of democracy to provide equality to everyone ?

Don't we have reservation to undo the injustice done in past ?

Do the 30% people in this country own all resources of this country?

If we needs only one small home to live in , why then those who have money are hell bent on owning more and more land which is a natural resource ?

Aren't we getting cheap oil due to subsidy and because 70% poor people of this country don't need it , but don't they have claim over the oil that is there in this country ?

Aren't those poor people contributing to this country by becoming the exploited cheap labor/farmer so that we can enjoy a luxurious life ?

They are only getting wheat & rice so that they don't die , they are not being given car, bungalow or anything luxurious are they ?

We shouldn't be so thick skinned that we stop feeling the pain of the poor.

Every country should try to provide its citizen basic needs.

Now after years of hard work we are capable to help the poor , we should do it
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wiseowl
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Quote wiseowl Replybullet Posted: 19/Dec/2011 at 10:07am
Many people in European countries and also the US feel that the unemployment dole or its equivalent given to people, particularly youngsters, have made them lazy and unwilling to work. They just fitter away the money in drinks, for example. In India, the 2-3 rupee rice/wheat schemes have had almost the same effect. Even in times of crisis the poor are unwilling to work because they can have their food at much cheaper rates than their cost of production. Small farms are making farming economically unviable. A farmer who is reluctant to farm for economic reasons also does not have the freedom to sell his farm (he has to sell only to a farmer, who also may be unwilling to buy) and do something else for a living. Also, the food diversity is lost because of the rice/wheat schemes. Villagers are not producing other foodgrains which they traditionally did. The nutrition levels are also becoming poorer even though the calorie requirement  may have been fulfilled. Fertilizer subsidy has played havoc with soil nutrient levels. Water tables have sunk low. We need innovative solutions. Not "throw money at the problem" solutions like FSB.



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Quote neelendra Replybullet Posted: 20/Dec/2011 at 1:46pm
Perhaps in our urge to prosper and grow we forget that a large cross section of society struggle to make a living. Where rice and salt is a feast for guests and the 500 bucks a month suffices for a family of 4-5-6… Where even a NREGA at 20% efficiency has made a difference to hundreds of families that I have met in the most backward tribal regions of our country.
Look I don’t want to turn this debate into a socialist v/s capitalist schpiel but balance a NREGA and FSB (in whichever manner it is passed) with the many Power projects, Dams, Ports, Airports, SEZ’s and other infrastructural developments in the country whose benefits don’t reach a majority of the populace... and you’ll realize whose side the govt (even an ineffective one as this) is on. And while nothing is fool proof or corruption free social experiments will have to be conducted to correct the anamoly of an eyesore Antilla with a 50 sq feet hutment that coexist in the commercial capital of the country.
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Quote ungboysj1 Replybullet Posted: 20/Dec/2011 at 2:25pm
Originally posted by neelendra

Perhaps in our urge to prosper and grow we forget that a large cross section of society struggle to make a living. Where rice and salt is a feast for guests and the 500 bucks a month suffices for a family of 4-5-6… Where even a NREGA at 20% efficiency has made a difference to hundreds of families that I have met in the most backward tribal regions of our country.
Look I don’t want to turn this debate into a socialist v/s capitalist schpiel but balance a NREGA and FSB (in whichever manner it is passed) with the many Power projects, Dams, Ports, Airports, SEZ’s and other infrastructural developments in the country whose benefits don’t reach a majority of the populace... and you’ll realize whose side the govt (even an ineffective one as this) is on. And while nothing is fool proof or corruption free social experiments will have to be conducted to correct the anamoly of an eyesore Antilla with a 50 sq feet hutment that coexist in the commercial capital of the country.


Exactly my thoughts , if so much can be done for corporate and middle class , there is no need to get angry when poor are helped.

I have worked in rural areas and seen the good effect of NREGA & KCC , i have also seen how 70-80 yr old people will walk 10-15 km just to get rs 300 pension/month (another so called freebie) per month and survive on that.

The flyovers , airports , gdp , sensex , it parks , sezs etc don't matter to them ,for them its a fight for survival


When poor are helped we start talking about how it will kill capitalism & populist measures but not a word is uttered when sez are made , corporate debts are written off/restructured ,tax cut on corporate/middle class is welcomed.

Such a hue cry made when petrol/lpg prices are increased.Just because poor don't have a voice or they don't make money for media/newspaper doesn't mean we leave them to die

Anyways if we can't do anything for poor at least we should not become a cry baby & cry foul when govt is trying to help them



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dipankar66
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Quote dipankar66 Replybullet Posted: 20/Dec/2011 at 5:13pm
Really like the write up...Basantjee is spot on the problems we are facing. Only the food security bill has the potential to turn India another Greece in a few years!
DD
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rajnsharma
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Quote rajnsharma Replybullet Posted: 20/Dec/2011 at 7:26pm
I don't think anybody will disagree that we can't have a society where every individual doesn't get at least two meals a day. The worry is more about how to fund it and if we can afford to fund it? Also the leakages in the system like the erstwhile PDS system will be a big issue to manage.
Wall Street makes money by it's activity, while you can make money by your in-activity - Warren Buffett
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