Posted by: karmapa November 4, 2005
economics anyone??
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It's been ages since I last attended macroecon class. Iamme lay kasto boring subject liyeko hola. Tara Nepal ko context ma bhannu parda, my banker friends are least bothered about a double-digit unemployment. So why should the banking community give a rat's ass if limiting inflation generates unemployment. Inflation (unanticipated) hurts the creditor more, so why not limit it, hoina ra? The government also benefits from limiting inflation, since inflation eats up a lion's share of their real revenue generatated through taxation, hoina ra?. maile remember gareko bhaneko yi dui buda matra ho. Sarkar lai real revenu chahiyeko chha - the more the merrier - so that it can employ gundas to destroy the democratic institutions of the country or import weapons. Inflation ta sarkar ko public enemy number 1 bhaihalincha ni ahile ko awastha ma. Jaba banking community ko ra government ko interests coincide garcha, who the hell cares about unemployment. Higher unemployment lowers demands for loans ray, ho ra? If you had higher income, why would you need loans in the first place. Too buy Maruti because the bank doesn't extend consumer loans unless you show they proof of your employment and earnings. But there is also another side to this coin, hoina ra. Many unemployed in Nepal (because they have liquid cash income) are mortgaging their land and property (assets) to take out loans from banks or loan sharks, to finance their trips to Gulf countries. Remittances lay pani Nepali ko economy prop up gareko halla suninchha. Unemployment ra Gulf countries ko liberal labor market lay ta kehi had samma Nepal ko arthatantra lai faida garekai jasto lagchha - if you push it. Herda ta win-win situation jasto po lagcha. Banking community gains (from low inflation), government gains (from low inflation), lucky unemployed (now employed in the Gulf gains from domestic unemployment, speaking sarcastically with some stretch of imagination hai), hoina ra? The unlucky unemployed who cannot afford trips to the Gulf countries throw stones at the police on the streets of Kathmandul. Hoina ra?
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