Ohh! Bah! Meh!


Yes the post refers to the newly crowned American President, Barrack Obama. (The results were just out. Check Here) People are already gunning to be a part of the glory of the new king of the most powerful (?) economy of the world. Some one is composing music albums in Mexico and are dedicating it to him, some body has painted his portrait in Madrid, Spain. In fact a handful of Indian techies donated a share of their wallet in the difficult time and contributed about $4100 to his election fund. I wonder what could be the usefulness of that amount.

Anyway, what worries me is a quote from the new President. “I think when you spread the wealth around, it’s good for everybody” Whoa! Excuse me Mr. President, you are going to lead the largest capital economy of the world. Can we infer you have sounded a warning bell against capitalism?

barack_obamaA lot has been said against Obama’s possible socialistic approach. He had already cleared his anti-outsourcing stance stating the American corporations have a social and corporate responsibilities towards the people of the states. Looking at the already volatile market, companies, mainly the financial firms, have lost humongous sum of money. The best strategy that comes to my little brain is to save costs and look for alternate markets with small but immediate short term gains and large long term profitability. But the democrats (even Bill Clinton) feel the other way. They are striving hard to protect the rights of American citizens and have given assurances to most for a better social security and jobs. Yet with the complete no-no agenda on moving jobs out of USA (socialist stance that Obama is portraying) the future, at least the near one looks bleak. Many of the Indian corporations, especially in IT have kept their fingers crossed on the legislative changes, if any that Obama will bring upon. Obama voted against shipping jobs outside of US. He instead argued that America will give tax breaks to the corporations that are willing to invest in USA thereby creating jobs. {In the current scenario All US corporations are required to pay a 35% tax on income, but US companies are allowed to defer paying taxes on income earned abroad as long as that money is being used by the company overseas and remains “unrepatriated income.” That can amount to an indefinite deferral, and does offer an incentive for US companies to do business abroad. for reference click here.}

Hmmm… so the question mark for the honest startup entrepreneurs with middling credentials wanting to take advantage of the famous-American-free-trade-policy is here to stay. Guessing the way Obama is going to function, I think these are going to be the reactions of most Asians… “Ohh!… Bah!… Meh!”

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4 thoughts on “Ohh! Bah! Meh!

  1. Mayur, its high time you start identifying spam comments. Always ignore those ‘i’m going to bookmark..” comments.

    Oh yes, fantastic post [after a long time 😉 ] on your blog. Good thinking and I echo your views.

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