Mr Obama will succeed at re-election and he will succeed in his agenda as well. It will not play out as planned. It never does. But there is no reason to say this president is a failure. He has the political talent of a Reagan and a Clinton and he has the time.

Your name

Born 22nd March 1990

• You were born on a Thursday.
• Your star sign is Aries.
• Your birthstone is Aquamarine.
• The season was Spring.
• You were born in the Chinese year of the Horse.
• The US President was George H. W. Bush (Republican).
• The UK Prime Minister was Margaret Thatcher (Conservative).
• Thursday's child has far to go.
• You are 19 years 10 months 18 days old.
• It is 41 days until your next birthday.
• In dog years you are 133 years old.
• You are 7,264 days old.
• You are approximately 174,353 hours old.
• You are approximately 627,670,086 seconds old.

mental_floss Blog � Camouflaging An Airplane Factory

mental_floss Blog � Camouflaging An Airplane Factory: "Back in the 40s, during the war, the Lockheed Air Terminal in Burbank was not only Los Angeles’ main airport, but a massive facility that produced warplanes from the P-38 to the B-17 bomber.."

Picasa Web Albums - ROHIT - Drop Box

Picasa Web Albums - ROHIT - Drop Box

The Domino Effect

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Should small Countries go in for Dollarization ?

On the 7th of February ,  I had participated in the F&IC  Das Capital Corporate Debate.
We had participated in two rounds , wherein we were given two Topics to discuss about-
1. Should small countries go in for dollarization - As Equador And El- Salvadore had opted ?
2.I was designated as an FII in the final round and my  views were sought on the discussion seed of - " The relevance of Stock Markets in India ".


Following is the concise summary of the views presented forth by me -


 Should small Countries go in for Dollarization ?
Dollarization occurs when the inhabitants of a country use foreign currency in parallel to or instead of the domestic currency. The major advantage of dollarization is promoting fiscal discipline and thus greater financial stability and lower inflation.


I was of the viewpoint that Dollarization , if adopted , should have a Sunset Clause attached to it - i.e. The country must maintain a moratorium of terminating its usage of the Foreign Currency after a Temporary phase.
To support my argument , I enlisted the following points -
4 points


1.From a Long term perspective , Adopting The Dollar is not feasible because a country loses out on the availability of Monetary tools to stem a crisis or stabilize an overheating economy.


Why doesn’t the whole world as a whole adopt the Dollar , or  the Euro ?
The Reason being that the Reserve Currency – Say , the Dollar ( The world's reserve Currency ) - will be regulated by the Federal Reserve in the US , keeping in view the US interests and with the Primary aim of stimulating the US economy , Keeping Unemployment Down and responding to the immediate requirements of U.S. Citizens.


2. Different Countries , at a particular period of time May be Passing Through different stages of Business Cycles and Development Phases and may therefore require an appropriate and a unique Monetary approach  - A blanket Approach - Eg. Setting up the same Repo & Reverse Repo  rates , Reserve Requirements for an entire fleet of Nations will not prove to be a wise decision  - It would be akin to providing the same medication for all sorts of ENT Problems.



3. I would stress upon Temporary Dollarization , Countries need to have a Sunset Clause in their drive towards formally adopting a strong Foreign currency as the modus operandi of exchange.


4. Countries  suffering from hyperinflation , like Zimbabwe , may resort to Temporary Dollarization to partially stem the spiraling prices and use the interim period to get together their act , take up sole responsibility and Accountability for the precarious situation they  find themselves in - A political crisis , uncertainties , civil strife etc. – There should be a timeframe set to put things back in motion  – the time bought by resorting to Dollarization should be utilized to bring about stabilization –For example ,  through external assistance by ones immediate neighbours who share to some extent similar cultures ( Just as in case of Zimbabwe wherein Southern African countries , particularly South Africa are doing their best to Mediate and peacefully resolve the political uncertainties. )

Following Dollarization , a country may completely lose out on its Ability to provide a Monetary stimulus , it may completely lose out on the Opportunity of Providing the right signals to the Economy , Providing an Impetus or Curtailing the Growth through the Means of its Monetary Policy..

Also , by adopting a foreign currency , it implies that there’s no system of flexible exchange rates ,and in the event that the smaller country is suffering a deficit on the BOP / BOT front ,it can't experience a depreciation of its own currency as its own currency does not exist in the first place, such a system may become unsustainable.

Some of the participants rejected Dollarization on the grounds that The Bigger nation may use this opportunity to its advantage - strategically - but I dont buy this argument for the simple reason that Days of colonialism and its related feeling of superiority just doesn't exist any longer - Countries like the U.S. simply wont Fuss about a country adopting the U.S. dollar when they have got a Back-load of problems , especially the $ 2 TRILLION RESERVES HELD BY CHINA - JUST SEE the PALE Comparison - An investment by  An MNC   Babcock & Wilcox Co.

 into A POWER PLANT in China will significantly be higher in value than the annual trade of the U.S. with these small countries . 

The issue of SELF PRESTIGE does exist for the small countries - But they should temporarily swallow it if that is the need of the hour.