Archive for March 1st, 2016

Hong Kong economy may slow down but HK Dollar is rock solid..

March 1, 2016

There was this news item on how HK Dollar will be a victim of the speculation due to another round of global financial crisis. It was written by an eminent financial journalist. This led to clarification by the architect of the HK currency board that nothing is wrong. In an amazing case of integrity, the journo apologised.

Prof Steve Hanke of Cato sums the story and also why HKD is safe:

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Do you have a leaking tap in your home?

March 1, 2016

An inspiring and humane story of 80 year Aabid Surti who asks this question in Mumbai homes. And fixes the leaking pipes if you say yes..

How ‘black money’ saved the Indian economy in 2008 crisis (and continues to save it..)

March 1, 2016

The presence of huge black money in housing is a well known fact but our experts choose to just ignore it. Infact what is so obvious, why talk about it?

Most homes involve paying a large % of home price as black money (unaccounted, in cash). The % varies from 20% to 30% depending on the value of the house, nature of transaction, eagerness of both parties to pay tax and so on. This means when the buyer goes to the bank for a loan, the price is already quoted lower at 70% – 80% of the actual price. Bank further gives loan at a maximum 80% of the loan value which comes to around 50-60% of the actual price. In case of a crisis in property market, the prices have to drop by more than 50% for the bank to go under.

Kaushik Basu in his latest book says this is what saved India from the 2008 crisis:

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Impact of Ganga cleaning on pollution and infant mortality levels..

March 1, 2016

Shareen Joshi has this interesting summary of her paper co-written with two others.

They show how a court ruling of cleaning Ganga in Kanpur led to substantial health benefits:

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