According to a message from a CEO of Speak Asia on the website www.speakasiaonline.com, the service of taking online surveys will be restored after a long hold and people who involved in that will get their money
Below is the news from Website
" Dear Speak Asians, Today at 7 pm India time your CEO Mr. Manoj Kumar will address all of you and all else interested through a message on YOUTUBE. We encourage all of you to watch and know the way forward. A link to his message will be available on the SpeakAsia website as well, post the youtube telecast."
" Dear Speak Asians, The wait is over !!!!!!! Keeping in line with our strategy and as communicated earlier, we proudly present to you our new web-site. This site is our foundation for a 'new age e-commerce platform' designed to fulfill aspirations of an empowered consumer like you. Operations in India; As you already know, our application for establishing a permanent establishment in India is awaiting government clearance.We really hope that we get a nod from the Government of India, in the coming weeks. We did send a few test payments for the panelists and our suppliers for "rewards" in the last 15 days, sadly these amounts were not credited by their banks due to certain precautionary circulars issued by the Reserve Bank of India. We have already put in process all the necessary actions with the competent authorities for allowing us to resume our normal banking operations. In the meantime, with launch of this new web-site, you will be able to earn and burn your accrued reward points by buying products and services on the SpeakAsia platform. You will also be able to get subscription codes using your referral income. Dear friends, this is only the first of the many steps towards realising & fulfilling the dreams that all of us at Speak Asia share. We assure that in the near future you will be given a host of new opportunities to earn and burn your reward points. Look forward to your continuous support as always. Thanking you Team Speak Asia
Below is the news from Website
" Dear Speak Asians, Today at 7 pm India time your CEO Mr. Manoj Kumar will address all of you and all else interested through a message on YOUTUBE. We encourage all of you to watch and know the way forward. A link to his message will be available on the SpeakAsia website as well, post the youtube telecast."
" Dear Speak Asians, The wait is over !!!!!!! Keeping in line with our strategy and as communicated earlier, we proudly present to you our new web-site. This site is our foundation for a 'new age e-commerce platform' designed to fulfill aspirations of an empowered consumer like you. Operations in India; As you already know, our application for establishing a permanent establishment in India is awaiting government clearance.We really hope that we get a nod from the Government of India, in the coming weeks. We did send a few test payments for the panelists and our suppliers for "rewards" in the last 15 days, sadly these amounts were not credited by their banks due to certain precautionary circulars issued by the Reserve Bank of India. We have already put in process all the necessary actions with the competent authorities for allowing us to resume our normal banking operations. In the meantime, with launch of this new web-site, you will be able to earn and burn your accrued reward points by buying products and services on the SpeakAsia platform. You will also be able to get subscription codes using your referral income. Dear friends, this is only the first of the many steps towards realising & fulfilling the dreams that all of us at Speak Asia share. We assure that in the near future you will be given a host of new opportunities to earn and burn your reward points. Look forward to your continuous support as always. Thanking you Team Speak Asia
There comes a time to step back from one's daily activities in the market and reflect philosophically on one's "method". Usually, this is triggered by reading an interesting book or article – and today I present you a fascinating extract from a new book ("Thinking , Fast and Slow") written by Nobel Laureate Daniel Kahneman, one of the leading lights of behavorial economics. To summarise;
-As a young psychology student in Israel , he was assigned to assess leadership qualities of candidates for the army's officer training programme. This involved observing their behaviour in a "leadership group challenge" played out on an obstacle course.
-They found out that their ability to predict performance at the training school was not much better than blind guesses. However, (more surprisingly) having this knowledge did not have any effect on how they evaluated future candidates and on their confidence levels in their predictions-i.e. the "cognitive illusion".
-Their knowledge of the general rule that they could not accurately predict did not affect their confidence levels in predicting individual cases. Confidence is only a feeling, and declarations of high confidence indicates only the construction of a coherent story in the individual's mind and not necessarily its truth.
-The theory that the market price is always right, as it incorporates all available knowledge about the stock's price, implies that no one can expect future gains or losses from trading. However, this is not correct as many individual investors loose consistently by trading.
-This was first borne out by a study which analysed the performance of individual investors over a seven-year period, where investors sold a stock and soon followed with a purchase of another stock, with the returns for the stocks compared a year later. The study found, on average, that the stocks which were sold outperformed the ones subsequently bought by 3.2% over a year!
-Later studies also showed that the most active traders had the poorest returns while investors who traded the least had the best results. They also showed that men acted on their useless ideas more often than women, and therefore underperformed women!
-In general, financial institutions and professional investors profited by being on the other sides of these trades and took advantage of the mistakes made by individual investors who (over the short run) typically sold "winners" too early and hung onto "losers" for too long.
-Professional investors and fund managers also fail the test of persistent achievement –50 years of research points out that for a large majority of fund managers, stock selection is more like playing dice than playing poker (which requires skill), and 2 out of 3 fund managers underperform the market every year.
-The year-to-year correlation of returns for fund managers is almost zero implying that successful funds in any given year are mostly lucky. Nearly all stock pickers, whether they know it or not, are playing a game of chance. Educated guesses are no more accurate than blind guesses!
-They also did a study of the performance of 25 wealth advisers over eight consecutive years, and found that there was no correlation between different pairs of years implying that there were no differences in skill and, in essence, the results were no different from what you would expect from a game of dice.
-This illusion of skill, was deeply ingrained in their culture, and facts which challenge such beliefs – and thereby threaten people's livelihood and self-esteem- are rejected. People generally ignore fact based information when it clashes with their personal experiences.
-Why do investors, amateur and professional, believe that they can beat the market which is contrary to both economic theory and an analysis of their past performance?
-The psychological cause for this illusion is that people who pick stocks are exercising high-level skills – by analysing economic data, income statements and balance sheets, evaluating quality of management and assessing the competition.
-Unfortunately, skills in evaluating a business are not sufficient for successful stock trading and the key question is whether the information about the firm is already incorporated in the stock price. Traders apparently lack the skill to answer this crucial information and are typically ignorant of their ignorance.
Fascinating stuff, and herein lies a key lesson for all of us – investing (for the long haul) is not about trying to appear (and acting !) smart and trying to beat the market –it is about having reasonable expectations, a lot of humility, and a rigorous discipline in following (and periodically re-evaluating) an individual investment method with honesty. Having the courage to go against the herd (with a calculator in hand!) , and consequently the stomach to withstand market volatility and underperformance, is also an absolutely critical requirement for long term investment success. Constructing a well diversified portfolio is crucial, as you can never be sure which trades will work out and which will not. Asset allocation decisions based on historical valuation trends and their mean reverting tendencies , rather than individual stock picking, is a method which provides a superior risk/reward profile (unless you are Warren Buffet!). Periodic rebalancing (quarterly?) rather than active trading, as the above studies have proven, is also a must. Lastly, do not underestimate the role which chance plays in your success (or lack of it!) – but that doesn't mean hard work doesn't count – keep in mind the old saying – "fortune favours the prepared'!
The above view is age-old, but unfortunately ignored by most – to quote from the Bible: " I returned and saw under the sun, that the race is not to the swift, nor the battle to the strong, neither yet bread to the wise, nor yet riches to men of understanding, nor yet favour to men of skill; but time and chance happeneth to them all."
Having said that, we are all likely to nod in agreement, and (rather quickly) go back to our own ways and continue searching for (or believing in) the magic formula to "beat the market"!
Bonds versus stocks:
It's now official-bonds have been more fun than stocks over the last 30 years!
"The biggest bond gains in almost a decade have pushed returns on Treasuries above stocks over the past 30 years, the first time that's happened since before the Civil War. Long-term government bonds have gained 11.5 percent a year on average over the past three decades, beating the 10.8 percent increase in the S&P 500, said Jim Bianco, president of Bianco Research in Chicago."
"The generation-long outperformance of bonds over stocks has been the biggest investment theme that everyone has just gotten plain wrong," Bianco said. "It's such an ingrained idea in everyone's head that such low yields should be shunned in favour of stocks, that no one wants to disrupt the idea, never mind the fact that it has been off."
Income inequality (via Paul Krugman):
A graph below which illustrates quote vividly the growing divide in the "haves" and the "haves-nots" in the US – the real income of the top 1% has risen by almost 3 times over the last 30 years, while that of the chunk of the population below (21st to 80th percentile) has risen by only about 40%.
-As a young psychology student in Israel , he was assigned to assess leadership qualities of candidates for the army's officer training programme. This involved observing their behaviour in a "leadership group challenge" played out on an obstacle course.
-They found out that their ability to predict performance at the training school was not much better than blind guesses. However, (more surprisingly) having this knowledge did not have any effect on how they evaluated future candidates and on their confidence levels in their predictions-i.e. the "cognitive illusion".
-Their knowledge of the general rule that they could not accurately predict did not affect their confidence levels in predicting individual cases. Confidence is only a feeling, and declarations of high confidence indicates only the construction of a coherent story in the individual's mind and not necessarily its truth.
-The theory that the market price is always right, as it incorporates all available knowledge about the stock's price, implies that no one can expect future gains or losses from trading. However, this is not correct as many individual investors loose consistently by trading.
-This was first borne out by a study which analysed the performance of individual investors over a seven-year period, where investors sold a stock and soon followed with a purchase of another stock, with the returns for the stocks compared a year later. The study found, on average, that the stocks which were sold outperformed the ones subsequently bought by 3.2% over a year!
-Later studies also showed that the most active traders had the poorest returns while investors who traded the least had the best results. They also showed that men acted on their useless ideas more often than women, and therefore underperformed women!
-In general, financial institutions and professional investors profited by being on the other sides of these trades and took advantage of the mistakes made by individual investors who (over the short run) typically sold "winners" too early and hung onto "losers" for too long.
-Professional investors and fund managers also fail the test of persistent achievement –50 years of research points out that for a large majority of fund managers, stock selection is more like playing dice than playing poker (which requires skill), and 2 out of 3 fund managers underperform the market every year.
-The year-to-year correlation of returns for fund managers is almost zero implying that successful funds in any given year are mostly lucky. Nearly all stock pickers, whether they know it or not, are playing a game of chance. Educated guesses are no more accurate than blind guesses!
-They also did a study of the performance of 25 wealth advisers over eight consecutive years, and found that there was no correlation between different pairs of years implying that there were no differences in skill and, in essence, the results were no different from what you would expect from a game of dice.
-This illusion of skill, was deeply ingrained in their culture, and facts which challenge such beliefs – and thereby threaten people's livelihood and self-esteem- are rejected. People generally ignore fact based information when it clashes with their personal experiences.
-Why do investors, amateur and professional, believe that they can beat the market which is contrary to both economic theory and an analysis of their past performance?
-The psychological cause for this illusion is that people who pick stocks are exercising high-level skills – by analysing economic data, income statements and balance sheets, evaluating quality of management and assessing the competition.
-Unfortunately, skills in evaluating a business are not sufficient for successful stock trading and the key question is whether the information about the firm is already incorporated in the stock price. Traders apparently lack the skill to answer this crucial information and are typically ignorant of their ignorance.
Fascinating stuff, and herein lies a key lesson for all of us – investing (for the long haul) is not about trying to appear (and acting !) smart and trying to beat the market –it is about having reasonable expectations, a lot of humility, and a rigorous discipline in following (and periodically re-evaluating) an individual investment method with honesty. Having the courage to go against the herd (with a calculator in hand!) , and consequently the stomach to withstand market volatility and underperformance, is also an absolutely critical requirement for long term investment success. Constructing a well diversified portfolio is crucial, as you can never be sure which trades will work out and which will not. Asset allocation decisions based on historical valuation trends and their mean reverting tendencies , rather than individual stock picking, is a method which provides a superior risk/reward profile (unless you are Warren Buffet!). Periodic rebalancing (quarterly?) rather than active trading, as the above studies have proven, is also a must. Lastly, do not underestimate the role which chance plays in your success (or lack of it!) – but that doesn't mean hard work doesn't count – keep in mind the old saying – "fortune favours the prepared'!
The above view is age-old, but unfortunately ignored by most – to quote from the Bible: " I returned and saw under the sun, that the race is not to the swift, nor the battle to the strong, neither yet bread to the wise, nor yet riches to men of understanding, nor yet favour to men of skill; but time and chance happeneth to them all."
Having said that, we are all likely to nod in agreement, and (rather quickly) go back to our own ways and continue searching for (or believing in) the magic formula to "beat the market"!
Bonds versus stocks:
It's now official-bonds have been more fun than stocks over the last 30 years!
"The biggest bond gains in almost a decade have pushed returns on Treasuries above stocks over the past 30 years, the first time that's happened since before the Civil War. Long-term government bonds have gained 11.5 percent a year on average over the past three decades, beating the 10.8 percent increase in the S&P 500, said Jim Bianco, president of Bianco Research in Chicago."
"The generation-long outperformance of bonds over stocks has been the biggest investment theme that everyone has just gotten plain wrong," Bianco said. "It's such an ingrained idea in everyone's head that such low yields should be shunned in favour of stocks, that no one wants to disrupt the idea, never mind the fact that it has been off."
Income inequality (via Paul Krugman):
A graph below which illustrates quote vividly the growing divide in the "haves" and the "haves-nots" in the US – the real income of the top 1% has risen by almost 3 times over the last 30 years, while that of the chunk of the population below (21st to 80th percentile) has risen by only about 40%.
News Highlights - Week of 31 October - 4 November 2011
Consumer price inflation in Indonesia slowed to 4.4% year-on-year (y-o-y) in October from 4.6% in September on account of lower prices for most food items. Consumer price inflation in the Republic of Korea eased to 3.9% y-o-y in October from 4.3% in September. In the Philippines, consumer price inflation quickened to 5.2% y-o-y in October from 4.8% in September. In Thailand, consumer price inflation rose to 4.2% y-o-y in October from 4.0% in September.
*The People's Republic of China's (PRC) manufacturing purchasing managers' index (PMI) fell to 50.4 in October from 51.2 in August, while the non-manufacturing PMI fell to 57.7 from 59.3 over the same period. Singapore's PMI was at 49.5 in October, slightly higher than the 49.4 registered in September but still below a reading of 50 which signals an increase in output. Viet Nam's index of industrial production rose 5.3% y-o-y in October, down from a 12.0% increase in September.
*Hong Kong, China's retail sales grew 24.1% y-o-y in September, following 29.0% growth in August. Viet Nam's total retail sales of consumer goods and services for the first 10 months rose by 23.1% y-o-y. In Japan, domestic vehicle sales in October jumped 28.3% y-o-y to 247,927 units.
*Indonesia's export growth accelerated to 46.3% y-o-y in September, following a revised 35.9% growth rate in August. The Republic of Korea's export growth rate fell to 9.3% in October from 18.8% in September. Malaysia's export growth rose to 16.6% y-o-y in September from 10.9% in August.
*Bank of China (Hong Kong) issued US$750 million worth of 5-year bonds with a coupon of 3.75%. Hong Kong, China auctioned HKD3 billion worth of HKSAR bonds at an average yield of .468%. Henderson Land, a Hong Kong, China-based property developer, priced SGD200 million worth of Reg S 5-year bonds at a yield of 3.865%. Daewoo Shipbuilding issued KRW300 billion of 3-year bonds last week with a coupon rate of 4.41%. Also, Industrial Bank of Korea raised a total of KRW700 billion worth of bonds, ranging from 1-year zero coupon bonds (KRW300 billion) to 15-year bonds with a 4.58% coupon (KRW50 billion). Petron Corporation raised PHP3.6 billion by issuing fixed-rate bonds to institutional investors. First Metro Investment Corp. (FMIC) issued 5-year bonds with a coupon of 4.6301% in FMIC's first debt sale, which has a target of PHP5 billion-PHP7 billion. Philippine Long Distance Telephone Co. (PLDT) is issuing PHP5 billion worth of fixed-rate notes consisting of 5-, 7- and 10-year tenors with yields of 5.4692%, 5.4963%, and 6.2188%, respectively. Siam Cement issued THB10 billion worth of 4-year bonds at a coupon rate of 4.25%.
*Net foreign investment into the Republic of Korea's local currency (LCY) bonds surged KRW1,594.4 billion in October, following a net outflow of KRW2.5 billion in September.
*Government bond yields fell last week for most tenors in the PRC; Hong Kong, China; Indonesia; the Republic of Korea; Malaysia; Singapore; and Viet Nam, while yields rose for most tenors in the Philippines and Thailand. Yield spreads between 2- and 10- year maturities widened in Malaysia, Thailand and Viet Nam, while spreads narrowed in other emerging East Asian markets.
INTERNATIONAL MERGERS AND ACQUISITIONS SURGE IN 2011
Michael Gestrin
International M&A investment has shown resilience in the face of recent economic turmoil, including the unfolding sovereign debt crisis in Europe and persistent economic weakness in the
United States.
International M&A investment in 2011 reached $822 billion as at 21 October. If this pace can be sustained, international M&A will top $100 billion by the end of the year, a 32% increase over 2010.
This would match the third highest level ever reached in 2006. Even if M&A activity were to come to a stop in Q4, 2011 levels will still be 7% higher than those reached in 2010.
Most international investment continues to originate from either North America or Western Europe. However, the emerging markets have become important new sources of international investment in recent years.
China (including Hong Kong) in particular has become a major international investor, ranking as the fourth largest source of international M&A in 2011, with 7% of the world total (figure 2). In 2010 it ranked second with 10%.
The full report can be accessed at http://www.oecd.org/dataoecd/26/23/48946357.pdf
DIWALI GIFT FOR YOU: BUY "VENUS POWER VENTURES (INDIA) LIMITED" (BSE CODE: 531874) AT 8.5/- TRG 39/- & 99/-
STOCK : VENUS POWER VENTURES(INDIA)LIMITED Trading in BSE CODE : 531874
CMP : 9/-
Target : 33/- to 90/- in Short term and Medium terms
Just Buy 1,000 Shares with 8,000/- to 9,000/- Rupees will get 1,00,000/- in 6 Months or before. Any time will start Upper circuit. If Starts Nonstop UC to 50/- to 100/-.
Venus Power Ventures (India) Limited doing Power Related and Infra Business and company going to Expand.
Equity : 5 Cr (Recently Promoters given Preferential shares for 1 Cr share to Promoters and Friends) So Equity now 15 Cr but 10 Cr is lock in in 1 year so Now we can calculate 5 Cr only.
Promoters Holding : 9% ; But preferential allotment to Promoters friends and companies for 93 laksh shares so Total including this Promoters Holding is (9% +63% = 72%)
Promoters Friends and Relatives :
Cementex India Pvt Ltd : 13.16%
Dhana Energy Pvt Ltd : 13.6%
Individual Friends : 36%
So Total Promoters Holding is 72% Public Only 27%
In Market shares is 35 Lakhs only some one buy this 39 Lakshs at 7 to 8/- company major Share holder of this company will get powers.
Face Value : 10/-
Book Value: 16.5/-
Reserves : 15 Cr (Per share = 10 Cr / 0.5 Cr Shares = Rs. 20/-)
Debt : Free (No Debts).
VENUS POWER VENTURES (INDIA) LIMITED provide the following services
• Development of Power Projects
• Turned Key Power Projects
Power Projects:
In the year 2009-2010 company has taken the decision to enter into Power Projects. Company name is changed from M/S. VENUS VENTURES LIMITED to "M/S. VENUS POWER VENTURES (INDIA) LIMITED".
VENUS POWER VENTURES (INDIA) LIMITED is one of the upcoming Power Infrastructure Development, Power Project Management Companies in South India with rich and varied experience in execution of land market power projects across the length and breadth of the country.
With established credentials in executing complex and challenging projects in all kinds of environment, VENUS has repeatedly delivered projects on time and of the highest quality.
An abundance of resources like People, Plant & Equipment, Finance etc., have enabled Venus Ventures Limited establish enviable record in infrastructure sphere. Venus Ventures Limited Committed to the highest standards of quality.
Turned Key Projects:
Venus Power Ventures (India) Limited proposed 50MW Gas power plant in Godavari District of Andhra Pradesh.
And also Venus Power Ventures (India) Limited proposed to 175 Acres land converted into 350 MW Thermal Power plants in Nellore District which was nearest location to Krishnapatnam Port.
Venus Power Ventures (India) Limited Planning to Expanding Business in Power and Infra very Aggressively.
Venus Power Ventures (India) Ltd Having Good Land Bank and Valuable Assets.
In this Market Correction Time Buy Good Fundamental Stocks Like Venus Power Ventures (India) Ltd and hold it will get good return No risk at all like this stocks.
Venus Power Ventures (India) Ltd having Lot Expansion Plans in Future. Its a Multibagger stock. Just buy and hold 1 year will get 10 times to 14 times Returns minimum.
All Investors can keep 5,000 to 50,000 shares in Portfolio for 3 Months to 1 Year Hold You will get good return from 500% to 1000% return.
Why the decline of the West is best for us and them By PROF. R.VAIDYANATHAN PROFESSOR OF FINANCE, INDIAN INSTITUTE OF MANAGEMENT , BANGALORE
Ten years ago, America had Steve Jobs, Bob Hope and Johnny Cash. Now it has no Jobs, no Hope and no Cash. Or so the joke goes.
Only, its no joke. The line is pretty close to reality in the US . The less said about Europe the better. Both the US and Europe are in decline. I was asked by a business channel in 2008 about recovery in the US . I mentioned 40 quarters and after that I was never invited for another discussion.
Recently, another media person asked me the same question and I answered 80 quarters. He was shocked since he was told some sprouts of recovery had been seen in the American economy.
It is important to recognise that the dominance of the West has been there only for last 200-and-odd years. According to Angus Maddisons pioneering OECD study, India and China had nearly 50 percent of global GDP as late as the 1820s. Hence India and China are not emerging or rising powers. They are retrieving their original position.
In 1990, the share of the G-7 in world GDP (on a purchasing power parity basis) was 51 percent and that of emerging markets 36 percent. But in 2011, it is the reverse. So the dominant west is a myth.
Similarly, the crisis. It is a US-Europe crisis and not a global one. The two wars which were essentially European wars were made out to be world wars with one English leader commenting that we will fight the Germans to the last Indian.
In this economic scenario, countries like India are made to feel as if they are in a crisis. Since the West says theres a crisis, we swallow it hook, line and sinker. But it isnt so. At no point of time in the last 20 years has foreign investment direct and portfolio exceeded 10 percent of our domestic investment. Our growth is due to our domestic savings which is again predominately household savings. Our housewives require awards for our growth not any western fund manager.
The crisis faced by the West is primarily because it has forgotten a six-letter word called saving which, again, is the result of forgetting another six letter word called family. The West has nationalised families over the last 60 years. Old age, ill health, single motherhood everything is the responsibility of the state.
When family is a burden and children an encumbrance, society goes for a toss. Household savings have been negative in the US for long. The total debt to GDP ratio is as high as 400 percent in many countries, including UK . Not only that, the West is facing a severe demographic crisis. The population of Europe during the First World War was nearly 25 percent and today it is around 11 percent and expected to become 3 percent in another 20 years. Europe will disappear from the world map unless migrants from Africa and Asia take it over.
The demographic crisis impacts the West in other ways. Social security goes for a toss since people are living longer and not many from below contribute to their pensions through taxes. So the nationalisation of families becomes a burden on the state.
European work culture has become worse with even our own Tata complaining about the work ethic of British managers. In France and Italy , the weekend starts on Friday morning itself. The population has become lazy and state-dependent. In the UK , the situation is worse with drunkenness becoming a
common problem. Parents do not have control over children and the Chief Rabbi of the United Hebrew Congregation in London said: There are all signs of arteriosclerosis of a culture and a civilisation grown old. Me has taken precedence over We and pleasure today over viability tomorrow. (The Times: 8 September ).
Married couples make up less than half (45 percent) of all households in the US , say recent data from the Census Bureau. Also there is a huge growth in unmarried couples and single parent families (mostly poor, black women). Society has become dysfunctional or disorganised in the West. The government is trying to be organised. In India , society is organised and government disorganised. Because of disorganised society in the West the state has to take care of families. The market crash is essentially due to the adoption of a model where there is consumption with borrowings and no savings. How long will Asian savings be able to sustain the western spending binge?
According to a recent report in The Wall Street Journal (10 October 2011), nearly half of US households receive government benefits like food stamps, subsidised housing, cash welfare or Medicare or Medicaid (the federal-state health care programmes for the poor) or social security.
The US is also a stock market economy where half the households are investors and they have been hit hard by bank and corporate failures. Even now less than 5 percent of our household financial savings goes to the stock market. Same in China and Japan .
Declining empires are dangerous. They will try to peddle their failed models to us and we will swallow it since colonial genes are very much present here. You will find more Indians heading global corporations since India is a very large market and one way to capture it is to make Indian sepoys work for it.
A declining West is best for the rest and also for the West, which needs to rethink its failed models and rework its priorities. For the rest like us the fact that the West has failed will be accepted by us only after some western scholars tell us the same. Till then we will try to imitate them and create more dysfunctional families.
We need to recognise that Big Government and Big Business are twin dangers for average citizens. India faces both and they are two asuras we need to guard against. The Leftists in the National Advisory Council want all families to be nationalised and governed by a Big State and reform marketers of the CII variety want Big Business to flourish under crony capitalism.
Beware of the twin evils since both look upon India as a charity house or as a market and not as an ancient civilisation.
