The world’s richest 62 people now have more wealth than the poorest 3.6 billion combined

Charity being dolled out by the Super rich / a number of welfare schemes by the Governments  supplemented by efforts of the International Organisations seems to be more on paper. The Charity houses promoted by the Super Rich class of the Global society lack in implementation and instead of providing succour to the needy appears to be ploughing back the money into their own accounts.

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Cant we find some novel method to fight poverty. In India we have 2% of net profit going to spending in corporate social responsibility (CSR) but we know these funds are prone to misutilisation through political links.Lets hope the ever increasing gap between rich and poor will start receding and deprived members of the society will find an opportunity to have sufficient money for the basic amenities for their families. I am reminded of a story which has left an indelible mark in my mind since childhood.

THE Final Three Wishes of Greek King of Macedon – Alexander The Great. while going back to his country after winning wars  in a serious state of health. He said

“When my coffin will be carried on ship to my home town keep  both my hands out of the coffin for public to see

.This will let people understand that I came to this world in empty hands and I will leave this world also in empty hands.”

 

Source: The world’s richest 62 people now have more wealth than the poorest 3.6 billion combined

A fatal disease lurks in India’s air, water, and soil. But nobody knows about it

I was sweating after reading this post as the reported disease has the maximum number i.e 50% cases from India and there is no patent medicine for treatment of this deadly disease. The more we are progressing in terms of growth and development, the more vulnerable we have become to unknown diseases. Hope the Government of India is aware of the facts and must be taking remedial steps for safeguarding the public interest

 

 

 

Source: A fatal disease lurks in India’s air, water, and soil. But nobody knows about it

Will $30 be the Last Worry–Crude Oil

Crude Oil at $30 per barrel was nowhere predicted in the beginning last year but it has happened and is an opportunity for the developing countries to handle their economies prudently to capitalise on this fall. These countries must be feeling less pressures on interests and inflation as compared to those oil exporting countries who failed to manage their cash surpluses properly whern the prices were sky high

countries like Venezuela and Nigeria, which are already facing social unrest, may see even more domestic trouble. They didn’t have the fiscal or investment discipline to invest in their industry or save for a rainy day when they were flush with cash. The Middle East members of Opec may be able to sweat out several months of low crude oil prices.

OPEC in their last meeting had a chance to decide reduction in output of oil to match the demand and check further fall in the crude oil but the organisation led by Saudi Arabia, sitting on huge dollar balances preferred to continue with the existing oil output on the fear that any such decision will help Russia and other such countries who export oil but are not in the ambit of OPEC. Russia, Venezuela and Nigeria have been hit hard with this development

For rest of the world economy, low oil prices are a boon and can help global gross domestic product growth. The International Monetary Fund (IMF) estimates that each $10 a barrel fall in oil prices increases world growth by 0.2%. Well thats interesting as the crude oil prices has not done any good for the Chinese economoy which is on roll causing anxiety alround

Stock Markets across the globe are plunging to the lower levels and Mutual Funds with investments in large oil companies are keeping the small investors at a distance from the markets too

Nikkei, Shanghai and Australian markets are showing uptrends in the early trades today at 11. AM and European, US markets may  provide some soothing touch too stock-photo-56631590-stock-market-graph

 

 

 

 

My gut feeling says that the investors need to have patience and instead of offloading their stock holdings at the prevailing prices should see it as an opportunity and pick some good stocks for consolidating their portfolio and hope for unbelievable returns in future..

It Happens Only in India–Not Always !!!!

I am surprised to see the anamoly in the country which is not known much about over adventurism by the rulers . That means politicians all across the globe are scared of discussing everything with their citizens apprehending adverse reaction against the rulers. The article published by Quartz is reproduced for assessing the truth being kept in dark by the ruling parties in various countries. Italy has levied cess on petrol and gas more than 17 times since 1935 making the country as the costliest as far as retail prices are concerned.

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Year Amount Reason
1935 1.9 lire War in Ethiopia
1956 14 lire Suez Canal
1963 10 lire Vajont dam collapse
1966 10 lire Floods in Florence
1968 10 lire Earthquake in Belice
1976 99 lire Earthquake in Friuli
1980 75 lire Earthquake in Irpinia
1983 205 lire War in Lebanon
1996 22 lire Mission in Bosnia
2004 0,02 euro New contract for public railways workers
2005 0.005 euro Purchase of ecologic buses
2009 0.0051 euro Earthquake in L’Aquila
2011 0.0071 to 0.0055 euro Financing culture
2011 0.04 euro Migrant crisis
2011 0.0089 euro Floods in Liguria and Tuscany
2011 0.082 euro Austerity measures
2012 0.02 euro Earthquake in Emilia

http://qz.com/588785/italians-pay-for-80-years-of-war-and-disaster-every-time-they-fill-their-tanks/

In Italy, fuel prices are always through the roof, no matter what the state of the world market. In fact, in December, despite falling industrial petrol prices (€0.46 per liter in Italy), filling up cost Italians €1.45 per liter ($5.8 per gallon).

https://atlas.qz.com/charts/4kGwdeKve

There are two reasons for this discrepancy. One is Italy’s 22% value-added tax (VAT). But the real culprit is another, archaic kind of tax called “accisa.” So many accisa taxes have been added to the price of fuel over the years that the total cumulative accisa now accounts for over half the consumer’s price for fuel (Italian).

The accisa exists to fund emergency government action, and consists of a tiny, flat addition (not a percentage) to the price of fuel and certain other products. The first accisa was added in 1935, when citizens of the Kingdom of Italy were asked to pay an extra 1.90 lire per liter of fuel (adjusted for inflation, today’s equivalent would be a steep €1.7). The money went to finance then-leader Benito Mussolini’s war in Ethiopia.

As the tax was never lifted, Italians are still paying for that war today.

They’re also still paying for the next accisa, levied in 1956 (Italy was, by then, a democracy): 14 lire per liter to raise funds to face the Suez crisis. As they’re still paying for the accisa imposed seven years later in 1963, when Italy added 10 more lire to finance reconstruction after the devastating Vajont dam collapse in northern Italy.

And so on, and so forth (Italian), to the latest accisa: €0.02 for reconstruction after a 2012 earthquake in the Emilia region. Looking at the list of incremental additions is like leafing through some of the darkest pages of Italy’s history, one disaster after the other:
Theoretically, each of these increments should have expired sooner or later, but they’re all still added to the final bill. As they fill their tanks today, Italians may struggle to forget the nation’s years of fascism, railway worker strikes, and many of the worst natural calamities to befall the country over the past century.

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