The latest tussle between Subramanian Swamy and RBI Governor has brought out the funnier side of economists ...
Consider this - I am spending Rs 100 on a product which has been included in Consumer Price Index's fixed basket of goods ....
But next day onwards, I spend Rs 10 on a cheaper product of same category, for the next one year ...
But, CPI will still assume I am buying the same amount of expensive product ... when I have already shifted my choice ...
Then what happens after CPI takes into account all of us ...
It will attribute the price rise to inflation ... when in reality there is no price rise at all ...
Lock, stock and barrel, for me at least, the economists or central bank governors of countries (in our case RBI guv) should be given Oscars for entertaining, not Nobel prize for sure ... ha ha ...
Imagine how economists can make us believe the untruth to be the truth ...
There lies the crunch for the resplendent and brilliant minds - Subramanian Swamy - to crush the lame duck, RBI Guv Raghuram Rajan, calling him a green-card holder and mentally not fully Indian ...
Swamy, in a letter to PM Narendra Modi, blamed market-driven economist Rajan for shifting target from Wholesale Price Index to CPI which prompted him to raise interest rates to control inflation, which spelt disaster ...
Spelt disaster ... it should ... and it did ...
Go back to my earlier explanation ... what it says ... economists make us believe something like "I have a girlfriend when I am not having one, and over it someone tries cementing the relation" ... ha ha .. isn't that funny ...
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However, the rivalry between Swamy and Rajan should also be seen in the context of Swamy writting to Rajan last year ...
He accused Rajan for trying to hush up ED's probe on ex FM P Chidambaram’s son Karti’s firms’ money trail to Singapore ...
Swamy accused Rajan for alerting Chidambaram on ED’s move to track down Karti’s banking transactions ... a favor returned for he is Chidambaram's choice for the current post ...
Pause
I appreciate media going hammer and tongs in supporting one of the best economists the world has seen, but why is it silent on Swamy's ED allegations .. why?
What is keeping the media and editors, who are in possession of Swamy's letter, mum?
Why are they not drumming up this issue?
What benefits them in supporting Rajan?
Or is it more savvy and media-friendly Arun Jaitely behind media to rake up a campaign against Swamy to save his chair?
After all, Swamy is darling of RSS (meaning - no media support), but not Jaitley ... that's another issue ...
Why Rajan has not replied and provided details to ED letter for several months ...
What is the role of Rajan in this?
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Rajan, if he is upright, and I believe so, need to do some explanation to clear the air, which the top editors are not doing ...
This will save his reputation ..
All said and done, I pray he does some explanation, for I love him as I see myself in him ... not for his unmatched intellect, but our style and mannerisms match ditto ...
And I believe he apes the mannerisms of actor Dharmendra because I consciously copy his style and mannerisms ...
More than anything else ... I fully see Rajan having the charms of my dad, a women's man ... period ...
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