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2 posters

Beyond Stage One

yellow knife

yellow knife: Top contributor; Posts : 6980
Join date : 2014-03-27

Post n°1

Beyond Stage One

by yellow knife Mon Apr 25, 2016 1:26 pm

Now we have to move beyond Stage One in economics... So this will be an advancing above what we simply see.

I base this continuous exercise based on good economic writers on current market situation.

So today's grave economic situation is summarized based on the article titled " A Cherry-Picking Monetary Board when another major scandal is rubbing on its nose. " published in DailyFT and authored by W.A.Wijewardana

*********************************************************

Sri Lanka is in serious economic crisis today. It is accepted by the monetary Board in its monthly monetary policy review of March 2016.

1. Growth has decelerated.
2. Core inflation is picking up
3. Money and credit have ballooned up
4. Government Budget is in serious difficulties

This is a classic example of a macroeconomic imbalance which has to be corrected by increasing interest rates and curtailing teh total demand in the economy.

*********************************************************

EFF facility of $ 1.2 Billion not sufficient

Extend Fund Facility loan from IMF would help it to build trust among investors . Yet that $ 1.2 Billion loan releasing in tranches of about $ 300 million is inadequate to meet foreign loan repayment commitment alone in the next 12 months of $ 4.5 billion.

************************************************************

Reintroduction of repatriation of export proceeds and similar Draconian Laws are the result of these situations which will further worsen the economy.

Yin-Yang

Yin-Yang: Posts : 1321
Join date : 2016-03-12

Post n°2

Re: Beyond Stage One

by Yin-Yang Mon Apr 25, 2016 3:37 pm

Is that a good book to read YK?

Usually, your recommended books so far have been useful and great.

yellow knife

yellow knife: Top contributor; Posts : 6980
Join date : 2014-03-27

Post n°3

Re: Beyond Stage One

by yellow knife Mon Apr 25, 2016 3:45 pm

Well this is written by Thomas Sowell..

He is an economic advisor and what he says is in economics what we learn in Stage One and accept as true is really questioned in stage two and beyond.

There are many areas where the writer will re-test you. Some stories are really worth to read like Woolworth story....

Woolworth is a young boy who came to town to sell milk. He got a job without salary but was happy with food and accommodation provided..Later he became the owner of the company he worked for. He constructed the world tallest building then.. the Woolworth building...

Even Sinhalese Tamil problem is discussed in this book..