Showing posts with label monetary. Show all posts
Showing posts with label monetary. Show all posts

Wednesday, 1 August 2012

Blackout!!!!

India's country-wide power grid failure has got the doom-sayers coming out in droves. "It's like a day of reckoning coming nearer," said Rajiv Kumar, secretary general of the Federation of Indian Chambers of Commerce and Industry. 

My apartment, along with much of Mumbai, remains blissfully unaffected by the power outages; I guess this is just luck, but I still feel like I'm in a destined little bubble of Western privilege, opining from on high about the poor, power-less (and powerless) masses across the nation. Screw it, I'm gonna opine anyway.

As has been said many times, this disaster was completely predictable. Anyone who's driven along an Indian road for more then two minutes can tell you the infrastructure doesn't exactly inspire faith in Indian engineering. Funny, given the nation's formidable Indian Institutes of Technology and emphasis on STEM studies. 

Yessir, my beloved home-of-the-moment has got a long way to go before I think it could fairly be called 100% "developed." But then again,the U.S. infrastructure is also crumbling, as a result of the summer's extreme weather. Soooo...it's the end of the world?

Can't think of anywhere I'd rather spend the apocalypse.

Tuesday, 10 July 2012

India in the News...That's a First...

The New York Times ran an interesting -- if incomplete -- timeline of India's modern economic history as told through magazine covers from the past 10 years. More accurately framed, this is a history of the mainstream media's coverage of India's booming decade.

Basically, according to this timeline, BusinessWeek first beguiled the general public with tales of a sexy, brown-skinned "vanguard of one of the biggest mind meld's in history," right before Wired warned everyone that these brilliant young computer whizzes were going to take our jobs...then a few more random stories about how great and liberal India was becoming...then a 2007 BusinessWeek piece about how India's horrible infrastructure and overpopulation may stunt growth...and going right up to The Economist's 2010 cover of a swiftly running tiger, representing India's potential outpacing of Chinese economic growth. Mee-yow, Economist!

The piece came on the heels of the Time cover labeling Indian Prime Minister Monmohan Singh "The Underachiever." A far cry from the October 27, 1947 cover of Time where Vishnu made her U.S. debut...or something....


Of all the publications, I have to say that the 2007 BusinessWeek article tells the story the best. That elephant on the cover is a pretty apt metaphor for India's growing pains...that poor, poor elephant. Yes, there is an awesome amount of entrepreneurship, rising education and general brilliance in India, but before they eclipse Silicon Valley they're going to need to fix some potholes. Literally. I can't count how many times I bump my head in the autorickshaw on the way to work.

Monday, 9 July 2012

Peering Over Poverty

Before I came to Mumbai, I knew I would see poverty. I just didn't know it would be shoved in my face so brazenly.


That's a photo my friend took of an impoverished lil' Mumbaikar peeking in our taxi window, begging for a spare rupee. Fortunately, I was warned multiple times as soon as I arrived: don't give money to beggars. The effect is apparently like that South Park episode where Stan Marsh is mobbed by homeless people after he gives a nickel to one vagabond.

The poverty I've seen here mainly manifests itself in the pollution and general lack of hygiene in certain neighborhoods -- adults relieving themselves in the streets, children walking around naked, cardboard shanty towns, etc. And I haven't even visited Dharavi, in northern Mumbai, where leopards from the nearby Sanjay Ghandi National Park apparently 'nom on village children regularly.

Mumbai also has a ton of opulence and "new money" as well, and I still haven't come to terms with my proximity to some truly horrible human living conditions. Will of course keep you all updated on this new-found humanitarianism as it develops. This whole "sympathy" thing is all new to me...

Sunday, 8 July 2012

Tha Swiss Connection

On my flight to Mumbai, I had a two hour layover in Switzerland. They were two of the cleanest, most pleasant hours of my life. I indulged in some deliciously nutty authentic Swiss chocolate from an airport vendor, explored the sleek, somewhat Euro-hipster designed airport -- bathroom doors were constructed of polished metal -- and admired the view of the mountains from the airport bay windows. 

The flight over to Mumbai on Swiss Air was equally delightful -- the vegetarian pizza they served was top-notch, and even the seats in the economy-section were roomy and comfortable. 

So landing in Mumbai and stepping off the squeaky-clean Swiss Air jet into a wave of heat and curry smell was not the most desirable contrast.

Above: If I could live on that jet, I would.

Since my all-too-short time in Europe, I have vowed to go back there as soon as feasibly possible and plan a good ol' fashioned EuroTrip. For me, this is actually a fairly big step forward: before this year, I was truthfully baffled whenever someone listed "traveling" as one of their favorite hobbies. But it's amazing what two hours near the Swiss Alps can do to a person's psyche. 

However, before I experience Europe I still have pretty much every landmark in Mumbai alone to visit. Yeah, this past month hasn't quite brought me outside of a ten-mile radius. 

In the meantime, I've been watching this video to get me pumped up about traveling in general. WE NO SPEAK HINDI!


Wednesday, 4 July 2012

Indian Rupee at Seven-Week High; "The Amazing Spiderman" is Dubious; And Other News

This was a cray cray week; I saw "The Amazing Spiderman" in iMax 3D. That night was significant because it also marked my first time truly getting "caught" in an Indian monsoon. We were stuck for about an hour in a small Wadala back-alley market -- with no electricity -- as the streets got more and more flooded and the imposing Indian locals inched creepily close.

But perhaps even more important: the Indian rupee is rebounding! According to the Wall Street Journal, it reached a seven-week high against the U.S. dollar yesterday. Now if only if the dollar can sink below that 53.79 rupees mark, I can REALLY celebrate this Fourth of July!

Oh yeah, by the way, the Amazing Spiderman was WeakSauce Malloy. I'm pretty sure they just rummaged through Sam Raimi's office trashbin for the storyline. My good friend Hipster Spiderman would be ashamed.