More on Invisible Bond Vigilantes 11-11

More on Invisible Bond Vigilantes

I argued yesterday that even if the heretofore invisible bond vigilantes materialize one of these days, their attack won’t have the effects the deficit hawks imagine. Because America has its own currency and a floating exchange rate, a loss of confidence would lead not to a contractionary rise in interest rates but to an expansionary fall in the dollar.

Here’s a case in point of people getting this wrong: the letter by 15 financial CEOs (pdf) urging a quick resolution of the fiscal cliff.

The letter is actually kind of amazing in a bad way even before we get to that issue: the CEOs apparently can’t or won’t get their heads around the fact that the fiscal cliff issue is all about doing too much, not too little, to reduce the deficit. Somehow, by the fourth paragraph concerns about a rise in taxes and a fall in spending depressing demand have turned into bond-vigilante fearmongering, with a warning that Moody’s might downgrade US bonds and send interest rates up. Guys, that’s not what we’re talking about here.

But even if we accept the bait-and-switch, from fiscal cliffery to fear of what will happen if we don’t have a Grand Bargain now now now; and even if we ignore the likely market reaction to a Moody’s downgrade, which would probably be a collective yawn (remember that absolutely nothing happened when S&P weighed in); the logic is still wrong. Even if Moody’s succeeded in scaring people, this would mean a weaker dollar rather than soaring rates — and this would be good, not bad, for the US economy.

It’s scary to think that such muddled thinking has dominated “serious” discussion.

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If Gods were to propose and the Human beings were to dispose, would human beings dispose of all the gods at the first instant???

If Gods were to propose and the Human beings were to dispose, would human beings dispose of all the gods at the first instant???

If God were to propose and the Human beings were to dispose, would human beings dispose of all the gods at the first instant???

Not a very human thought, I know

But, would that mean a peaceful world for all of us???

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It could perhaps, if we look at recent history, we will find that most of the wars have been fought in the name gods faiths, religion, and beliefs. Inter and Intra religious differences have resulted in both civil & military wars, in turn resulting in huge loss of innocent human lives.

Every neighborhood in Afghanistan, Iran, Iraq, Pakistan, Palestine, Israel, United States, Japan, and many other countries has a saga to narrate of dear ones killed in the battle. Battles have been fought in the name of god, in the name of peace.

We know that there is serene peace & tranquility in death, but given a choice, we would like to have peace based on principles of mutual understanding and coexistence.

I could have easily quoted country wise figures of the precious lives lost since the world wars, but that is not the focus of this article.

Well, there is a very valid argument that, fear of god, and tenets of the religion often keep people disciplined and help promote harmony within the sects and among the sects. I am also prepared to buy the argument that it is a very small minority that is indulging in misinterpretation of the religion to promote terror activities.

Very small minority, yes correct, but the impact, intensity, and the geographic spread of their activities are totally disproportionate to their numbers. Add to this, the over reaction of the various governments, and their extraordinary generosity in spending funds, military hardware, and the deployment of the troops, are the important factors for destruction all around.

Innocent lives are being lost daily due to both terrorist activities and the action by Government troops. A missile or a bomb fired from an aircraft or ground artillery doesn’t distinguish between an innocent, or a guilty individual, doesn’t know as yet to avoid innocent children & women.

The severe impact of excessive allocation of funds for defence   on the global economy is too well known for enunciation. Fledgling economies of West Asia have been driven to pauper status by these needless wars.
The wars are not between the believers and the non believers. They are between the different groups of believers who call the god by different names and have different ways of worshipping the almighty.

There is nothing wrong with the holy books or the scriptures. They all preach love and brotherhood. Intolerance is in the heart and the minds of the individuals or groups and not in the faiths or religions.

Now coming back to the basic question……

If there were no gods or religions, would there still be wars and destruction???

Well, it may not bring end to all wars and loss of human life, but, yes it would remove a very big reason for it. And even one reason less for war is a less war and more peace.

And that would mean less investment for defence and more for building economies. It would mean more investments for education, agriculture, technology, and infrastructure. That would mean more jobs, more affluence. When everyone is busy building economy and affluence, thought of a war would be the last thing on their mind.

With all these glorious possibilities, the question is …

If the human being has the power to dispose, will he…

Well it may seem an insane thought, but a thought that could lead to a saner world.

People may think I am dreaming,sleep writing, in deep slumber.

May be yes…

In that case, don’t wake me up; the other side is too harsh to bear.

Shyam

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