Tag Archives: poor

The rich are 64% richer than before the recession, while the poor are 57% poorer

Britain’s divided decade: the rich are 64% richer than before the recession, while the poor are 57% poorer

By NIGEL MORRIS

The gap between richest and poorest has dramatically widened in the past decade as wealthy households paid off their debts and piled up savings following the financial crisis, a report warns today.

By contrast, the worst-off families are far less financially secure than before the recession triggered by the near- collapse of several major banks. They have an average of less than a week’s pay set aside and are more often in the red.

Younger workers have fallen behind older people while homeowners – particularly those who have paid off their mortgages – have become increasingly affluent compared with their neighbours who are paying rent.

Evidence of Britain’s rapidly growing wealth gap was revealed by the Social Market Foundation (SMF), which analysed the changing incomes and savings of thousands of people. Its findings will be seized on by Labour as evidence that any recovery from the downturn is uneven and not shared across all income groups. However, the trends uncovered by the SMF began before the Coalition came to power, underlining the huge impact of the credit crunch on levels of affluence.

It found that the average wealth of the best-off one-fifth of families rose by 64 per cent between 2005 and 2012-13 as they put more money aside as a buffer against future shocks. They have average savings and investments of around £10,000 compared with £6,000 seven years earlier.

The proportion of people in this group with debts (apart from mortgages) dropped from 43 per cent to less than one-third. However, the SMF found the poorest 20 per cent are less financially secure than they were in 2005, with their net wealth falling by 57 per cent and levels of debt and use of overdrafts increasing.

Read more » The Independent
See more » http://www.independent.co.uk/news/uk/home-news/britains-divided-decade-the-rich-are-64-richer-than-before-the-recessionwhile-the-poor-are-57-poorer-10097038.html

Pakistan politics: The mythical feudal and the real elite

By Adnan Rasool

Reality is always hard to stomach. In the age of inflated self-worth and significance, societies start having delusions of grandeur. But when the delusions are questioned, the society either goes into denial or starts spinning a new narrative.

For the last two years, our people have been going through a process where there was initially a denial of the harsh realities of Pakistan, and then the passionate spinning of a false narrative. This narrative initially blamed the system, then blamed the government and now blames everyone for everything.

Too much time has been spent criticising this false narrative that many believe to be the truth. What has been ignored are the basic set of realities that Pakistan continues to face.

To start with, as much as I hate saying this, politics in Pakistan is not for the voter to decide.

Pakistan is a case of elite adjustment. It has never been a case where the voter will decide anything; the voters are simply not a significant enough part of the equation to leverage the situation.

Also read: ‘The real struggle in Pakistan is between the elite and the poor’

The form of governance does not matter either; be it a dictatorship or autocratic democracy, the political situation is a result of elite adjustment.

Read more » DAWN
http://www.dawn.com/news/1139412

80 Percent Of U.S. Adults Face Near-Poverty, Unemployment: Survey

By HOPE YEN

WASHINGTON — Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.

Survey data exclusive to The Associated Press points to an increasingly globalized U.S. economy, the widening gap between rich and poor, and the loss of good-paying manufacturing jobs as reasons for the trend.

Read more » Huffington Post
http://www.huffingtonpost.com/2013/07/28/poverty-unemployment-rates_n_3666594.html

Deadly debt trap

The only way to come out of prevalent economic mess is to accelerate growth and enhance tax revenues

By Huzaima Bukhari & Dr. Ikramul Haq

Pakistan trapped in deadly ‘debt prison’ needs concentrated short and long term efforts to come out of it. Unfortunately, till today no workable plan and viable strategy is devised by the government or any political party in opposition to tackle the issue. The debt burden — Rs14.5 billion internal and $60 billion external — is becoming unmanageable as major resources are consumed by debt servicing. The budget allocation of Rs1.52 trillion for retiring public debt and payment of interest during fiscal year 2013-14 would prove short as there was surge of Rs180 billion in external debts alone during July 2013.

On July 29, 2013, the rupee recorded its lowest value against the dollar: Rs102.4 in the interbank market, Rs104.7 in open market, but actual rate was Rs105.5. Continuous slide of the rupee is not merely due to widening demand-supply gap or maneuverings by unscrupulous elements. Other factors are external debt repayments of around $1billion and speculations about official devaluation in the wake of IMF bailout.

Devaluation will have devastating effects e.g. tremendous surge in public debt (one rupee loss in the exchange rate adds Rs60 billion to public debt), enhancement in debt servicing, further widening of fiscal deficit and more expensive imports, especially of crude oil raising cost of all goods and services.

Already huge debt servicing is taking a heavy toll on economy — fiscal deficit for financial year 2012-13 jumped to 8.8 per cent of GDP as shortfall on the part of Federal Board of Revenue (FBR) alone was Rs442 billion. The fast depletion of foreign exchange reserves — from $14.776 billion in July 2011 to $5.153 billion by July 2013 — aggravated the situation. Heavy repayments to the IMF and others plus financing of current account deficit amounting to $2.3 billion in 2012-13 forced the new government to approach the IMF for a bailout package.

The situation on internal debt is equally disturbing. The government, for the first time in the history, borrowed from local banks Rs one trillion during the fiscal year 2012-13. The net government borrowing from domestic banks increased to Rs1.012 trillion between July 1, 2012 and June 28, 2013 against Rs629.9 billion over the same period last fiscal year. The federal government borrowed Rs1.005 trillion for budgetary support as compared to Rs696.5 billion during the corresponding period fiscal year.

The reckless and unabated borrowing from commercial banks is not only retarding growth but also depriving private sector of the much-needed funds for investments. It is but also forcing State Bank of Pakistan (SBP) to inject heavy amounts of liquidity in the banking system through frequent open market operations as high borrowings wipe out liquidity from the money market.

The only way to come out of prevalent mess is to accelerate growth, generate employment, enhance tax revenues, and stop financing luxuries of elites and losses of public sector enterprises (PSEs). But the present government, like the PPP-coalition government, is not serious about it. During its election campaign, the Pakistan Muslim League-Nawaz (PML-N) made tall claims that on assuming power it will get rid of the “cancer of external debts”.

Continue reading Deadly debt trap

UK most unequal country in the West

Huge gap between rich and poor in Britain is the same as Nigeria and worse than Ethiopia, UN report reveals

By Geoffrey Lean and Graham Ball

Britain is now the most unequal country in the Western world, an authoritative new United Nations report reveals. The gap between rich and poor is as great as in Nigeria.

Detailed statistics in the Human Development Report published last week also demonstrate that inequality has grown sharply during Conservative rule and that the poor in Britain now have to live on much the same incomes as their equivalents in Hungary and Korea.

Read more > The Independent.co.uk
http://www.independent.co.uk/news/uk-most-unequal-country-in-the-west-1329614.html

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America Doesn’t Have #1 Richest Middle-Class in the World…We’re Ranked 27th!

Big Lie: America Doesn’t Have #1 Richest Middle-Class in the World…We’re Ranked 27th!

America is the richest country on Earth. We have the most millionaires, the most billionaires—and a increasingly poor “middle class.”

America is the richest country on Earth. We have the most millionaires, the most billionaires and our wealthiest citizens have garnered more of the planet’s riches than any other group in the world. We even have hedge fund managers who make in one hour as much as the average family makes in 21 years!

This opulence is supposed to trickle down to the rest of us, improving the lives of everyday Americans. At least that’s what free-market cheerleaders repeatedly promise us.

Unfortunately, it’s a lie, one of the biggest ever perpetrated on the American people.

Our middle class is falling further and further behind in comparison to the rest of the world. We keep hearing that America is number one. Well, when it comes to middle-class wealth, we’re number 27.

The most telling comparative measurement is median wealth (per adult). It describes the amount of wealth accumulated by the person precisely in the middle of the wealth distribution—50 percent of the adult population has more wealth, while 50 percent has less. You can’t get more middle than that.

Wealth is measured by the total sum of all our assets (homes, bank accounts, stocks, bonds etc.) minus our liabilities (outstanding loans and other debts). It the best indicator we have for individual and family prosperity. While the never-ending accumulation of wealth may be wrecking the planet, wealth also provides basic security, especially in a country like ours with such skimpy social programs. Wealth allows us to survive periods of economic turmoil. Wealth allows our children to go to college without incurring crippling debts, or to get help for the down payment on their first homes. As Billie Holiday sings, “God bless the child that’s got his own.”

Well, it’s a sad song. As the chart below shows, there are 26 other countries with a median wealth higher than ours (and the relative reduction of U.S. median wealth has done nothing to make our economy more sustainable).

Read more » AlterNet
http://www.alternet.org/economy/americas-middle-class-27th-richest

The Real Numbers: Half of America in Poverty — and It’s Creeping toward 75%

The Census Bureau has reported that one out of six Americans lives in poverty. A shocking figure. But it’s actually much, much worse.

The Census Bureau has reported that one out of six Americans lives in poverty. A shocking figure. But it’s actually much worse. Inequality is spreading like a shadowy disease through our country, infecting more and more households, and leaving a shrinking number of financially secure families to maintain the charade of prosperity.

1. Almost half of Americans had NO assets in 2009

Analysis of  Economic Policy Institute data shows that Mitt Romney’s famous  47 percent, the alleged ‘takers,’ have taken nothing. Their debt exceeded their assets in 2009.

Continue reading The Real Numbers: Half of America in Poverty — and It’s Creeping toward 75%

U.S. Economic Inequality Is Permanent, Study Finds

Bye, Bye American Dream! U.S. Economic Inequality Is Permanent, Study Finds

Analysis of two decades of income tax trends also find the rich consume more.

By Steven Rosenfeld

A new study by a team of economists in academia and the government has concluded that economic inequality is a permanent—not temporary—feature in the United States, based on an analysis of 350,000 federal income tax returns between 1987 and 2009.

“For household income, both before and after taxes, the increase in inequality over this period was predominantly, although not entirely, permanent,” the highly technical report concluded. “We also find evidence that the U.S. federal tax system helped reduce the increase in household income inequality; but this attenuating effect was insufficient to significantly alter the broad trend toward rising inequality.”

Continue reading U.S. Economic Inequality Is Permanent, Study Finds

Canada drops in worldwide justice index

Access to justice is discriminating against poor and immigrant populations, says a new report by the World Justice Project.

By: Jeff Green, Staff Reporter

A new report from suggests immigrant and poor populations are being discriminated against in Canada because of a limited access to justice. Canada dropped since last year in six of the eight “Rule of Law” factors listed in the report from the World Justice Project.

The report ranked Canada among 97 countries worldwide in categories including government power, corruption, order, fundamental rights, open government, enforcement, and civil and criminal justice.

Some 97,000 people were polled worldwide, in addition to 2,500 experts in 97 countries to compile the report.

Continue reading Canada drops in worldwide justice index

Canada drops out of top 10 most developed countries list

The United Nations human development index now ranks Canada as 11th

By the Canadian Press

Canada has slipped out of the top 10 countries listed in the annual United Nation’s human development index — a far cry from the 1990s when it held the first place for most of the decade.

The 2013 report, which reviews a country’s performance in health, education and income, places Canada in 11th place versus 10th last year.

Continue reading Canada drops out of top 10 most developed countries list

14th March – 130th anniversary of Karl Marx

Leader of oppressed people of the world died on 14th March 1883.

“The philosophers have only interpreted the world, in various ways: the point, however, is to change it.” – KARL MARX

“Democracy is the road to socialism.” – Karl Marx

“Social progress can be measured by the social position of the female sex.” – Karl Marx

“Revolutions are the locomotives of history.” – Karl Marx

“The rich will do anything for the poor but get off their backs.” – Karl Marx

Continue reading 14th March – 130th anniversary of Karl Marx

A political economy of communalism in south Asia

Hyderbad: “You Strike & We will Strike back”.

The message of ‘21/2 Hyderabad serial terror attack

By Feroze Mithiborwala

The strategic& political target of the terror attack, is the historic 2-day Strike of the Working classes, where more than 12 core or 120 million workers both from the organized & unorganized sectors participated & brought India to a halt.

This working class strike surmounted all calculations due to the scale at which the enraged working classes participated. This strike has shaken up the corporate-political elite & that is why they have struck back with a serial terror attack, where now more than 15 citizens have died & 50 grievously injured. The terror attack was orchestrated in Dilsukh Nagar, where there is a busy market & many cinema halls.

If the working class unrest takes the proportions which we witness in many nations across the world such as Greece & Spain, the ruling elite will witness a massive crisis, due to the growing burdens of price-rise, decreasing wages, increasing scams, spiraling inflation, the growing insecurity of the peasantry, workers& laboring classes, as well as the ever-widening rich-poor divide.

Continue reading A political economy of communalism in south Asia

Pakistan’s economy Plugging leaks, poking holes – Who will pay for Pakistan’s state?

PAKISTAN’S national poet, Muhammad Iqbal, believed the subcontinent’s Muslims needed to unite if they were to prosper. Without a strong sense of nationhood, he wrote, “mountains become straw and are blown away in the wind”.

Poetry and taxes do not often mix. But those melancholy lines grace an analysis of Pakistan’s fiscal plight by Ehtisham Ahmad of the London School of Economics. The country’s tax revenues have collapsed. Its debt is almost certainly unsustainable without outside help. And yet Pakistan does not pull together. “Textile lobbies, the urban gentry, traders and agriculturists, all point to the other and say: Tax that group first, but do not tax me,” Mr Ahmad writes.

The tax authorities can identify a mere 768,000 individuals who paid income tax last year. Even fewer—just 270,000—have paid something in each of the past three years. That is one reason why Pakistan’s tax revenues amounted to only 9.1% of GDP in the latest fiscal year, one of the lowest ratios in the world (see chart). These are exceedingly narrow shoulders on which to rest a nuclear-armed state of 180m people. The culture of cheating starts at the top. Most members of parliament, many of them conspicuously affluent, do not file tax returns.

In the months before an election, due by May, the government of President Asif Zardari of the Pakistan Peoples Party (PPP) is proposing a controversial remedy: an amnesty for evaders. They will be invited to wipe the slate clean with a one-off payment of only 40,000 rupees ($400). The government says it is a quick way to resuscitate the public finances and expand the tax net. Its critics see the amnesty as a boon for politically connected crooks.

Continue reading Pakistan’s economy Plugging leaks, poking holes – Who will pay for Pakistan’s state?

Global super-rich elite has hidden an extraordinary $21 trillion of wealth offshore

£13tn: hoard hidden from taxman by global elite

• Study estimates staggering size of offshore economy

• Private banks help wealthiest to move cash into havens

A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network. ….

Read more » guardian.co.uk

Via – Twitter

Corporate Profits at All-Time High; Wages at All-Time Low: Can We Call it Class War Yet?

By Sarah Jaffe

The middle class is being hollowed out; increasingly, there are the super-super-rich, and there are the rest of us.

This week, David Segal at the New York Times broke the news to America that not only was Apple — the computer and gadget manufacturer formerly seen as a symbol of good old American ingenuity — making its profits on the backs of abused factory workers in China, but also on poorly paid store employees here in the US.

Apple store workers, he wrote, make up a large majority of Apple’s US workforce—30,000 out of 43,000 employees in this country—and they make about $25,000 a year, or about $12 an hour.

Lawrence Mishel at the Economic Policy Institute notes that that’s just a dollar above the federal poverty level. This for a company that paid nine of its top executives a total of $441 million in 2011. ….

Read more » Alternet

http://www.alternet.org/story/156042/corporate_profits_at_all-time_high%3B_wages_at_all-time_low%3A_can_we_call_it_class_war_yet?page=entire#disqus_thread

Preying on Poverty: How Government and Corporations Use the Poor as Piggy Banks

by Barbara Ehrenreich
Individually the poor are not too tempting to thieves, for obvious reasons. Mug a banker and you might score a wallet containing a month’s rent. Mug a janitor and you will be lucky to get away with bus fare to flee the crime scene. But as Business Week helpfully pointed out in 2007, the poor in aggregate provide a juicy target for anyone depraved enough to make a business of stealing from them.

The trick is to rob them in ways that are systematic, impersonal, and almost impossible to trace to individual perpetrators. Employers, for example, can simply program their computers to shave a few dollars off each paycheck, or they can require workers to show up 30 minutes or more before the time clock starts ticking.

Lenders, including major credit companies as well as payday lenders, have taken over the traditional role of the street-corner loan shark, charging the poor insanely high rates of interest. When supplemented with late fees (themselves subject to interest), the resulting effective interest rate can be as high as 600% a year, which is perfectly legal in many states.

It’s not just the private sector that’s preying on the poor. Local governments are discovering that they can partially make up for declining tax revenues through fines, fees, and other costs imposed on indigent defendants, often for crimes no more dastardly than driving with a suspended license. And if that seems like an inefficient way to make money, given the high cost of locking people up, a growing number of jurisdictions have taken to charging defendants for their court costs and even the price of occupying a jail cell. ….

Read more » Common Dreams

Demands of Canadians – Raise Corporate Taxes, Create Jobs, Raise Wages and Living Standards! Curb Corporate Power!

Raise Corporate Taxes, Create Jobs, Raise Wages and Living Standards! Curb Corporate Power!

The CPC (Ontario) has condemned the Ontario Budget, delivered yesterday, as a massive attack on working people and the poor that will destroy tens of thousands of jobs, drive down wages, pensions, incomes and living standards, and which, combined with the austerity measures in Thursday’s federal budget, could push the province into another deep economic recession.

The Executive Committee of the CPC (Ontario) also warned that the threat of legislated wage controls is a dangerous attack on free collective bargaining and on civil and democratic rights.

Continue reading Demands of Canadians – Raise Corporate Taxes, Create Jobs, Raise Wages and Living Standards! Curb Corporate Power!

Is America on the Verge of Theocracy? 4 Fundamentalist Ideologies Threatening U.S. Liberty

Extremists shape American politics to unabashedly pursue legislative policies that favor the rich and punish the poor.

Americans seem confident in the mythical notion that the United States is a free nation dedicated to reproducing the principles of equality, justice and democracy. What has been ignored in this delusional view is the growing rise of an expanded national security state since 2001 and an attack on individual rights that suggests that the United States has more in common with authoritarian regimes like China and Iran “than anyone may like to admit.” I want to address this seemingly untenable notion that the United States has become a breeding ground for authoritarianism by focusing on four fundamentalisms: market fundamentalism, religious fundamentalism, educational fundamentalism and military fundamentalism. This is far from a exhaustive list, but it does raise serious questions about how the claim to democracy in the United States has been severely damaged, if not made impossible.

Continue reading Is America on the Verge of Theocracy? 4 Fundamentalist Ideologies Threatening U.S. Liberty

Impact of OWS

– Finally, Higher Taxes for the 1% — Is Occupy Behind Governors’ Moves to Make the Wealthy Pay Their Share?

By Sarah Jaffe

Is the narrative around taxes finally shifting? Thanks to heavy public pressure, Governors Cuomo and Brown propose taxing their states’ ultrarich. …

Read more » AlterNet

Spectacular bloodshed – By Nayyer Khan

In agricultural society, live stock represents wealth and hence sacrifices. In an urban society wealth is represented by money. If one contributed the equivalent of the price of a goat or a cow to charity — i.e. feeding the poor, donating to hospitals etc, it should have the same effect

Every year, on Eid-ul-Azha (3 days long annual Muslim Festival, starting in a few days, during which animals are sacrificed to please Allah), I feel as if I am living in one of the ancient civilizations ….

Read more » ViewPoint

The leadership conundrum

By Shahab Usto

It is the poor who suffer for state and government failures. They have hardly any political platforms of their own to protect and promote their interests, thanks to the long established authoritarian traditions and pro-elitist state policies

Though Pakistan has hardly ever seen normal times, these are supposedly the most dreadful and tragic times. …

Read more » Daily Times

No justification for military takeover, says Asma Jehangir, the president of Supreme Court Bar Association

– No justification for military takeover, says Asma

By Nasir Iqbal

ISLAMABAD, Sept 23: One of the country`s most prominent human rights activists has expressed her serious concern on the poor performance of the federal and provincial governments, but has warned against this being used as a pretext by the extra-constitutional forces to derail the democratic process.

Asma Jehangir, who is also the president of Supreme Court Bar Association (SCBA), told Dawn that under no circumstances issues like the deteriorating law and order situation in Karachi or elsewhere could provide justification for any kind of military intervention. However, her fear was that “if civilian governments do not put their house in order, they would soon be sent packing”. In any case, she said, such a move would be disastrous for the country, and could result in more bloodshed and anarchy.

Commenting on a recent media report of possible differences among the top military commanders, with some suggesting a possible take-over, ….

Read more → DAWN.COM

Burning Pakistan: Irresponsible Politicians And Media

…. Pakistani Media which is hell bent to play with the lives of the innocent people and the recent example is of repeated Telecast of ZM’s clip again and again which culminated in the loss of “15 Innocent Human Being” who were just innocent bystanders not “Sindhi, Urdu, Pashtun, Baluch or Punjabis just somebody’s brothers, sisters, mothers, daughters, sons, brothers and fathers. Fifteen Innocent people would have been alive today had the Private Channels wouldn’t have repeated the Fiery Political Statement again and again which culminated in the bloodbath and … in Killing, Death and Mayhem. ….

(Aaj Tv, Bolta Pakistan 14-7-2011,YouTube)

Read more → CHAGATAIKHAN

The Double Game

The unintended consequences of American funding in Pakistan.

by Lawrence Wright

It’s the end of the Second World War, and the United States is deciding what to do about two immense, poor, densely populated countries in Asia. America chooses one of the countries, becoming its benefactor. Over the decades, it pours billions of dollars into that country’s economy, training and equipping its military and its intelligence services. The stated goal is to create a reliable ally with strong institutions and a modern, vigorous democracy. The other country, meanwhile, is spurned because it forges alliances with America’s enemies.

The country not chosen was India, which “tilted” toward the Soviet Union during the Cold War. Pakistan became America’s protégé, firmly supporting its fight to contain Communism. The benefits that Pakistan accrued from this relationship were quickly apparent: in the nineteen-sixties, its economy was an exemplar. India, by contrast, was a byword for basket case. Fifty years then went by. What was the result of this social experiment?

India has become the state that we tried to create in Pakistan. It is a rising economic star, militarily powerful and democratic, and it shares American interests. Pakistan, however, is one of the most anti-American countries in the world, and a covert sponsor of terrorism. Politically and economically, it verges on being a failed state. And, despite Pakistani avowals to the contrary, America’s worst enemy, Osama bin Laden, had been hiding there for years—in strikingly comfortable circumstances—before U.S. commandos finally tracked him down and killed him, on May 2nd.

American aid is hardly the only factor that led these two countries to such disparate outcomes. But, at this pivotal moment, it would be a mistake not to examine the degree to which U.S. dollars have undermined our strategic relationship with Pakistan—and created monstrous contradictions within Pakistan itself.

American money began flowing into Pakistan in 1954, when a mutual defense agreement was signed. During the next decade, nearly two and a half billion dollars in economic assistance, and seven hundred million in military aid, went to Pakistan ….

Read more : The New Yorker

Mukhtaran Mai: Pakistan betrayed you once again

By Raza Rumi

April 21, 2011 will be remembered as a black day in Pakistan’s history. Not because this was the day when the Supreme Court acquitted the alleged rapists of a poor, marginalised woman. It will be marked as the day when, once again, Pakistan’s colonial criminal justice system failed to protect the vulnerable, thereby rendering a heinous crime such as gang rape almost unpunishable.

Nine years ago, a misogynistic panchayat of south Punjab ordered the gang rape of a woman for no sin of hers. It was her (then 12-year-old) brother who was sodomised and then accused of illicit relations with the sister of the powerful rapists. This low-caste family had to be ‘fixed’. Thanks to the media frenzy, the state had to act when what happens in subaltern Pakistan was exposed. Suo motu notices by the courts, police investigation and faulty prosecution ultimately led to no justice. At every step of the legal process, powerful men obstructed the cause of justice. …

Read more : The Express Tribune

Behind ‘Rising India’

Behind ‘Rising India’ lies the surrender of national dignity

From India’s prime minister down, the rotten state of the world’s largest democracy has been exposed for all to see

Even the racketeers of Pakistani military and intelligence appear dignified when compared with the Indians stampeding to plant kisses on US behinds!

by Pankaj Mishra

Food prices become intolerable for the poor. Protests against corruption paralyse the national parliament for weeks on end. Then a series of American diplomatic cables released by WikiLeaks exposes a brazenly mendacious and venal ruling class; the head of government adored by foreign business people and journalists loses his moral authority, turning into a lame duck.

This sounds like Tunisia or Egypt before their uprisings, countries long deprived of representative politics and pillaged by the local agents of neoliberal capitalism. But it is India, where in recent days WikiLeaks has highlighted how national democratic institutions are no defence against the rapacity and selfishness of globalised elites.

Most of the cables – being published by the Hindu, the country’s most respected newspaper in English – offer nothing new to those who haven’t drunk the “Rising India” Kool-Aid vended by business people, politicians and their journalist groupies. The evidence of economic liberalisation providing cover for a wholesale plunder of the country’s resources has been steadily mounting over recent months. The loss in particular of a staggering $39bn in the government’s sale of the telecom spectrum has alerted many Indians to the corrupt nexuses between corporate and political power. …

Read more : guardian.co.uk

Pakistan remains a military-dominated rentier state

Failed state or Weimar Republic?

Pakistan remains a military-dominated rentier state, still committed to American and Gulf Arab alliances

By Omar Ali

A friend recently wrote to me that Pakistan reminded him of the Weimar republic; an anarchic and poorly managed democracy with some real freedoms and an explosion of artistic creativity, but also with a dangerous fascist ideology attracting more and more adherents as people tire of economic hardship and social disorder and yearn for a savior. Others (much more numerous than the single friend who suggested the Weimar comparison) insist that Pakistan is a failed state. So which is it? Is Pakistan the Weimar republic of the day or is it a failed state?

Continue reading Pakistan remains a military-dominated rentier state

This is how the poor people of Pakistan subsidized the Millionaire/ Billionaire ruling elite of Pakistan

Pakistan’s Federal Assembly Canteen price list: Tea Rs.1.00, Chicken Soup Rs.5.50, Dal Rs.1.50, Meals Rs.2.00, Chappati Rs.1.00, Dosa Rs.4.00, Veg Briyani Rs.8.00, Fish Rs.13.00. The language of the program is urdu/ Hindi.

Courtesy: Dunya TV (Program Hasb e Haal with Sohail Ahmed, Junaid Saleem and Najia Baig)

You Tube

Indian budget projects economic growth

India’s government has unveiled its annual budget, saying that the economy is expected to grow at 9% in 2012.

Finance Minister Pranab Mukherjee said the growth rate for the current fiscal year was projected at 8.5%.

He said inflation would decrease over the next fiscal year – the current rate is 8.4%. But food price inflation, at 17%, “remains a concern”.

Mr Mukherjee promised action on food security and pledged an increase in social spending. …

Read more : BBC

Pakistan’s Higher Court Confirms There Are Two Laws : one for the powerful, other for the weak?

Supreme Court decision to give a rare second extension to Justice Khalil Ramday and appoint Justice Rahmat Hussain Jafferi as an ad hoc judge confirms that there are two laws in the country: one for the powerful, other for the weak; one for the rich, other for the poor; one for the Supreme Court, other for the rest of the country!

Please note that the Supreme Court has been hearing and deciding the fate of many government officials who have been given extensions or have been re-employed after their retirement. How will the court hear such cases anymore?  What will be its credibility in other cases?

Courtesy: Aaj News TV (Aaj Ki Khabar – 15th February 2011)

via – ZemTVYou Tube Link