Rajan Is Right

Raghuram Rajan, India's Departing Central Banker, Has a New Warning 

2008 was a wasted crisis. It was a crisis that could have helped the world take one big leap towards a knowledge economy. The world had an opportunity to shape globoeconomics, a new third dimension to the traditional micro and macroeconomics. Some new global institutions were needed. America needed a three trillion stimulus with much of that money ending on Main Street, but instead ended up with a much bigger monetary stimulus with all the money ending up on Wall Street, pretty much free.

If the interest rates stay at near zero for long enough, it is no longer a tool, is it? But what if that has been your only tool? Then you have no available tool the next time a big crisis hits.

Separation Of Nationalism And State

Just like the church state separation was enacted, there is a need to put in place a separation of nationalism and the state.

The nation state itself has to be reimagined.

The 2008 crisis was first and foremost a failure of the governments of the world. You can not globalize finance and not create a world government. Just like no government connected the computers of the world to the internet, finance globalized itself, spreading like a forest fire.

The kind of productivity gains that humanity has been fantasizing about for as long as there has been humanity are finally about to materialize and people are getting alarmed by it, because political and economic theory lag far behind the impending developments.

The heads of states of the world don't even have the political consciousness of the black marchers of the 1960s when they sought political equality.

Country after country across America and Europe are sprouting demagogues who are making all the wrong noise.

Political and economic theorists have to take the primary blame. And then the political leaders of the world.

The political landscape has to be thought anew. Global finance has to be reimagined. The world has been writing off trillions for lack of the right theoretical frameworks. Real lives are being impacted.

The political institutions are to meet political needs. A currency can't be a vehicle for nationalism either.

Nationalism is to do with culture, language, heritage, history, myths. It is not for political and economic institutions to meet those needs.

And, no, racism is not nationalism. Racism is racism. Racism is a heart disease, spiritually speaking. Racism is Satan saying hate each other.

God says love one another.

I vouch for separation of nationalism and state and separation of racism from the state. There should be zero tolerance for racism in the public sphere.

Donald Trump has a heart disease. He is a racist.

Hillary And The Idea Of Confronting Sexism Head On

Trump is boorish. The guy is a clown passing for a presidential candidate. I take one look at Trump and think America perhaps is a sliding power. This guy would be a joke as the Independence Party nominee.

Should not the woman wanting to be the first woman president take Trump’s sexism head on?

Trump is so incoherent and haphazard I am not sure it is even sexism. It is, but it is so much more. The guy is a sinbag. A bag full of sins.

When you get into a fight with the pig, you get dirty and the pig loves it. Going insult for insult would not be any meaningful fight against sexism.

Hillary is fighting. She is running for president. That is the fight. It is a daily grind, there is a fight every hour.

Putting one woman in the White House will not end the sexism. But 160 million women waking up will.

America is a democracy. The power is with the individual citizens, not the president.