After all it has dropped from Rs4.76 in 1966 to over Rs 170 to
the US$1 over 50 years later!
We
are obsessed with it? because like everything the politicians have led us to believe
it is the fault of the party they don’t belong to and that is a serious issue.
If you know your economics, you can actually depreciate your exchange rate to
boost your economy, especially if you can increase exports substantially.
My
contention is that however hard we have tried, our businessmen have not been
able to increase FDI nor exports to anything like what we need to meet our
external borrowing payments, NOR to boost the growth rate of the economy.
One
foolish comment was that India’s exchange rate had dropped more than Sri Lanka’s
to the US$. Well I’ll have you know that their economy is actually growing much
faster, nearly 8% per annum as compared with our anemic 4% or less, and the
drop COULD increase software exports to the US, by increasing back office work
in India. So India is not that worried.
So
it is time we remove our focus on the WRONG POINT. We are focusing on this
stupid issue, because we have two serious problems in our economy. We have a
populace that is servile and will not take their time to learn and find out the
truth. Of course there are exceptions to this and to them I don’t need to
convince them of my argument.
Secondly,
we have politicians who are loathe to tell the truth, as the population is more
likely to believe the lies of the opposition bent on hurting the party in
power, and so is willing to make asinine statements just to arouse the ignorant
masses to believe in the wrong thing.
Unfortunately,
unlike in many countries, we have the most uneducated media since creation, and
they have no intention of telling the truth, helping the masses understand fact
from fiction, but merely spend their media time, giving coverage to people who
say the most foolish things, so as to sound truthful as it was the media that
gave coverage to such fake news, and it must be true!!!
So
the VILE combination of Politics, Public and Publicity, produces peasants
pissing in PULP FICTION. We can only change this mindset, when we have people
who are educated, WITHOUT A PERSONAL AGRANDISEMENT AGENDA, leading us in the
RIGHT PATH or “NIVARADI MARGAYA”. Unfortunately, we have another P to ensure it
does not happen, as their hold over the people is vice like, that is Priests. “Religion is the opiate of the masses” and any
sense to detox is met with screams of TREASON!
There
were three articles with varying angles on what the problem is and another
blatently political article blaming the ills of the depreciation solely on the
Government! That article by opposition writer CA Chandraprema, called “the Rupee
in free fall” is
The
other more meaningful articles suggesting means of trying to reduce the Balance
of Payments Deficit in order to instill confidence a necessary perquisite of a
stable currency were the one by Professor Nimal Sanderatne, as follows:
Groundviews
in confirming it is simply not the fault of the Government but a series of long-term
policies by successive government that have led us here:
Finally,
grudging acceptance, a political statement if you will that the State will have
to take steps to cut imports that don’t add to Economic Growth if forced.
All
the articles above are to give the reader the ability to sift through ideas to
come to their own conclusions rather than merely take what I say hook line and
sinker, however most importantly I refer the reader to my earlier Blog Entry,
and also recommend the reader looks at the extremely useful comments that are
not normally talked about, but which make a lot of sense when understanding:
Having
said all this, the point that Harsha de Silva made to appeal to the good sense
of patriotism has fallen flat see link:
as
people just trash even a common sense idea and even Professor Siri Hettige a
sociologist, says we cannot volunteer meaning we have no patriots and ONLY
govt. policies can reduce import dependence, a point I don’t necessarily accept,
unless policy includes brainwashing people’s minds to put their country before
self!
BOTTOM
LINE: We have no option but to change the way we look at everything and earn
our keep, instead of living on borrowings, or other’s generosity. We MUST LIVE WITHIN OUR MEANS – PERIOD!
I have to show my colors here. I have not left this Country in the last 10 years to go anywhere. I have not purchased a motor car in the last 15 years and in any case the vehicle purchased 15 years ago was a Tata Cab for Rs900,000 which was totalled when the Police Security Vehicle providing unnecessary security to the Minister of Justice, Rauf Hakeem, skidded and crashed into me over 7 and 1/2 years ago, when it was totalled, and has left me disabled, and not owning any vehicle after that!
3 comments:
My opinion is that it needs to start with Education. This area needs a complete overhaul and a 200 year old system is ripe for change. Change is difficult and it takes moral courage for those with a vision to change the whole purpose of education, so that people can live fulfilled lives, without deciding if they are good enough to leave this Country, as the best clearly do.
Present education system merely creates two classes, the best who leave, and the worst who live and complain in this Country. That has to change so all see hope to improve their quality of living within and living in Sri Lanka.
Ironically a return to 2000 year old education where there was no religion either was a better model, where people are taught to work in a needed profession, firstly by being apprenticed and then taking over.
Harsha de Silva's exhortation has made it to the Daily Mirror too!
http://www.dailymirror.lk/article/Postpone-new-luxury-car-trip-to-Alaska-to-stabilize-LKR-Dr-Harsha-156024.html
If only we inform the public on matters we have control over and what we don't have control over, and what action we have taken to reduce adverse effects on matters we have control over, then I am sure the public will stop and listen and give the Govt. the benefit of the doubt. Unfortunately this government communication system is very poor, or non existent or worse at cross purposes, confusing the public who then sincerely believe it is a smoke and mirrors job to fool the people into submission.
It is now the turn of the people to demonstrate against the way they have been treated all these years, saying enough is enough and turf out all the present day politicians and infuse new blood, with no political experience, just industry and problem solving experience which none of the Diyawanna Thugs have but dont want to accept their incompetence.
Post a Comment