it has probably escaped the attention of most pakistanis but global financial markets are in a meltdown mode because of bad loans and investments made by global financial institutions in the u.s real estate sector. in response to the crisis, bush administration has devised a plan which involves govt buying bad assets from banks so that banks can free up their capital and start lending again. this plan is being overwhelmingly opposed by u.s. awam which thinks the plan is simply a handout for rich wallstreet fatcats. reality is that if the financial system goes down, so will bubba six-pack because if banks dont lend to each other, banks certainly wont be lending money to bubba or to bubba’s employer which will increase the chances of bubba being kicked out from his job. bubba though dont care about his future because he simply gets pleasure from watching succesful people taking a fall. its also not realistic to expect bubba to understand the complex working of financial markets.
in many respects, irrational behavior of bubba is similar to that displayed by abdul pakistani who turned against musharraf in 2007. under musharraf’s rule pakistani economy exceeded all expectations and this caused huge khujlee to parasitic groups like mullahs, jehadi lovers, leftists, waderas, journalists, intellectuals, politicians, ethnic hate mongers etc. essentially a growing economy is the only way to empower pakistani awam which is why groups which benefit from awam’s jahaluth do their best to disrupt the economy by spreading misinformation and causing chaos. abdul pakistani easily succumbs to misinformation because given the centuries of mismanagement by our leaders, abdul’s lot cannot be improved in a couple of years. ultimate though blame and responsibility must lie with the abdul who keeps supporting leaders like zardari and ctbt whose mismanagement and corruption has caused billions of dollars of losses to pakistan and who once again are leading pakistan to economic ruin.
since last election, rupee has lost 30% of its value iand the only solution govt has for economic crises is to beg for more aid. given the perilous state of global economy, foreign govts are going to be lining our doors to hand us money. unfortuntely for us, developed countries did not become developed by handing billions of dollars to the likes of zardari.
going back to bubba america, his govt will bail him out by doing the right thing eventually. abdul pakistani can only be so lucky.
ultimate though blame and responsibility must lie with the abdul who keeps supporting leaders like zardari and ctbt whose mismanagement and corruption has caused billions of dollars of losses to pakistan and who once again are leading pakistan to economic ruin.
since last election, rupee has lost 30% of its value iand the only solution govt has for economic crises is to beg for more aid. given the perilous state of global economy, foreign govts are going to be lining our doors to hand us money. unfortuntely for us, developed countries did not become developed by handing billions of dollars to the likes of zardari.
Among the many flaws in your condescending and simplistic post is the fact that during the Mush years, he supported the same corrupt politcians, Sherpao, Altaf Hussain, Liaqut Jatoi, Sheikh Rashid, etc
If you followed Pakistan's economic situation regularly, the current scenario was predicted in the last quarter of 2007, as a result of 8 years of Mush/Aziz's policies. It was only teh billions that followed 9/11 that gave Pakistan some breathing space.
Anyways, this is a moot point, Mush was kicked out as the most hated man in Pakistan, for a reason
it has probably escaped the attention of most pakistanis but global financial markets are in a meltdown mode because of bad loans and investments made by global financial institutions in the u.s real estate sector. in response to the crisis, bush administration has devised a plan which involves govt buying bad assets from banks so that banks can free up their capital and start lending again. this plan is being overwhelmingly opposed by u.s. awam which thinks the plan is simply a handout for rich wallstreet fatcats. reality is that if the financial system goes down, so will bubba six-pack because if banks dont lend to each other, banks certainly wont be lending money to bubba or to bubba's employer which will increase the chances of bubba being kicked out from his job. bubba though dont care about his future because he simply gets pleasure from watching succesful people taking a fall. its also not realistic to expect bubba to understand the complex working of financial markets.
Perhaps bubba faisal should've read many many analysts predicting this upcoming "downfall" many many months ago but the government was sleeping or pretending to be hunting terrorists around the world while financial terrorists ruined its own homeland.
What bubbas don't enjoy is bubba paying the fat-wallet CEOs using his own "tax money" during the bailout, your interpretation of bubbas enjoying "fall of the successful" is your own interpretation of the events.
in many respects, irrational behavior of bubba is similar to that displayed by abdul pakistani who turned against musharraf in 2007. under musharraf's rule pakistani economy exceeded all expectations and this caused huge khujlee to parasitic groups like mullahs, jehadi lovers, leftists, waderas, journalists, intellectuals, politicians, ethnic hate mongers etc. essentially a growing economy is the only way to empower pakistani awam which is why groups which benefit from awam's jahaluth do their best to disrupt the economy by spreading misinformation and causing chaos. abdul pakistani easily succumbs to misinformation because given the centuries of mismanagement by our leaders, abdul's lot cannot be improved in a couple of years. ultimate though blame and responsibility must lie with the abdul who keeps supporting leaders like zardari and ctbt whose mismanagement and corruption has caused billions of dollars of losses to pakistan and who once again are leading pakistan to economic ruin.
The same old same old mantra continues.
since last election, rupee has lost 30% of its value iand the only solution govt has for economic crises is to beg for more aid. given the perilous state of global economy, foreign govts are going to be lining our doors to hand us money. unfortuntely for us, developed countries did not become developed by handing billions of dollars to the likes of zardari.
I agree there that begging for "aid" is not the solution, nor "Bush made the world safer" will do anything for our economy.
Among the many flaws in your condescending post is the fact that during the Mush years, he supported the same corrupt politcians, Sherpao, Altaf Hussain, Liaqut Jatoi, Sheikh Rashid, etc
If you followed Pakistan's economic situation regularly, the current scenario was predicted in the last quarter of 2007, as a result of 8 years of Mush/Aziz's policies. It was only teh billions that followed 9/11 that gave Pakistan some breathing space.
Anyways, this is a moot point, Mush was kicked out as the most hated man in Pakistan, for a reason
actually no.
pakistani rupee as well as stock market held up after the election. mkts started going down after stupidity of the existing regime became obvious to investors.
as for corruption of leaders under mushrraf, please feel free to take them to court because nro does not cover the period under musharraf. we have a democratic govt now. i am sure judiciary under democratic rule will not hestitate in taking on the corrupt.
Perhaps bubba faisal should've read many many analysts predicting this upcoming "downfall" many many months ago but the government was sleeping or pretending to be hunting terrorists around the world while financial terrorists ruined its own homeland.
What bubbas don't enjoy is bubba paying the fat-wallet CEOs using his own "tax money" during the bailout, your interpretation of bubbas enjoying "fall of the successful" is your own interpretation of the events.
The same old same old mantra continues.
I agree there that begging for "aid" is not the solution, nor "Bush made the world safer" will do anything for our economy.
actually mkts have been going down for over a year and rescue of bear stearns occured six months ago.
people who spread misinformation are not worthy of receiving a serious response.
pakistani rupee as well as stock market held up after the election. mkts started going down after stupidity of the existing regime became obvious to investors.
as for corruption of leaders under mushrraf, please feel free to take them to court because nro does not cover the period under musharraf. we have a democratic govt now. i am sure judiciary under democratic rule will not hestitate in taking on the corrupt.
Rupee and stock market after the election??? KSE went up a day after Zardari's election. That is not the crucial factor, and you have missed the point.
As for 'taking politcians to court', since you raised the issue, why don't you do that for those you mentioned??
It seems you have your own agenda, and are not being serious.