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    March 29

    After IPL, What Else will Indian Elections Cost the People?

    If Mayawati or Jayalalitha walk to the Throne, Criminalisation of Politics will be Complete
     
    And the big swindlers they are,they may bankrupt the country
     
    India may be the world's largest democracy but elections in the country mean little to the people.  The illiterate electorate may be excited about it, ignoring the trillions that are burnt in the exercise. The ones who stand to gain are the prospective victors who will use the next five years to rip the impoverished country further apart and fill their own coffers with unaccounted cash that will make Bill Gates, Warren Buffet and the Sultan of Brunei look poor.
     
    We did not even have to wait until the elections were over for the blood-suckers to start causing damage to the country. They kicked it off by moving the Indian Premier League to South Africa on the pretext the country would not be able to guarantee security for the players in view of the elections. Now the All-Indian Tennis Association is miffed that Australia has requested moving their Davis Cup tie out of Chennai.
     
    This is funny logic -- India will move the IPL out to suit its convenience but it will take issue with others who are nervous about coming to the country. It is of India's own making. It does take a great deal of shamelessness to say that it lacks the resources to ensure the safety of the IPL teams.
     
    Imagine how disastrous it will have been if China had decided not to host the Beijing Olympics, citing the tainted milk issue that was raging there then and the widespread protests over the Tiibetan issue.
     
    Also imagine the crisis that will befall London if it were to turn its back on the 2012 Olympics. After all, London has also had its share of terrorist attacks and is a training ground for terrorists -- no thanks to the sizeable Pakistani population there.
     
    But, does India care? All our politicians are interested in is on how best to swindle the country. If voters decide to bring one of its two women prime ministerial aspirants, Mayawati and Jayalalitha, to power, then they will have lost more than just the IPL.
     
    Just recently an MLA belonging to Mayawati's party was arrested on a charge of murdering an engineer who did not contribute money for celebrating the U.P. chief minister's (Mayawait) birthday  -- http://ibnlive.in.com/news/mla-held-for-murder-up-govt-defends-maya/81290-3.html.  
     
    We all know how Jayalalitha set about bankrupting Tamil Nadu amassing wealth and even dabbling in a vulgar display of her fortunes through the wedding of her foster son that international magazines called the world's most expensive celebration. Now she is seeking a larger playing field -- India. Unfortunately, her arch-rival Karunanidhi is no lesser devil.
     
    That is a pity -- all I can say is "God save India." 
     
    -- G Joslin Vethakumar
    March 17

    How long can the Greenback be a Saviour for the U.S.?

    The world needs an alternative to the U.S. Dollar

    It cannot continue to be the world’s reserve currency and give the U.S. an Unfair Advantage

    The future belongs to Asia, as Singapore tops even Innovation Ranking, pushing U.S. to the Sixth Place

    Paradoxes abound even in a slumping economy. We do not have to look beyond the U.S. for one. It is a nation that has always been living beyond its means, weathering trade and fiscal deficits year after year. Now, even as its economy is teetering on the brink of disaster with a point of no return, the silver lining is the strengthening greenback.

    It does defy logic as it raises the question of how the U.S. currency can keep soaring when the country itself is going downhill economically, notwithstanding the nice four-day bounce that the U.S. stock markets experienced last week.

    The reality is that the U.S. dollar is the world’s preferred reserve currency that is used for global trade. Central banks the world over hold it in reserve as it is generally viewed as the most stable of all currencies.

    It is this dollar strength that has been saving the U.S. from economic doom ever since it emerged as a global superpower. But for how long can it be a saviour for the U.S. and give the country an unfair advantage? Oil producing and exporting countries (OPEC) and their petrodollars may be the biggest culprits as they receive all of their revenues in U.S. dollars. Other countries such as India and Singapore do not lag far behind as they too have their reserves in U.S. dollars.

    When an alternative to its currency emerges the U.S. will be dead for ever.

    Whimsical Situation: It is not as if the world has not noticed this whimsical situation of a surging dollar amid a grave scenario. Every financial crisis in the past has inevitably prompted countries from particularly the emerging markets to raise the issue of having an alternative to the U.S. dollar for trade.

    Malaysia has in the past advocated the gold dinar (a monetary unit based on the price of the yellow metal) as a viable option for global trade. Gold and the Euro had also been touted as possible alternatives by such countries as Iran (OPEC’s second largest producer), Iraq, Libya, Russia, China and Syria.

    Murmurs about U.S. Grouse Against Iraq: In fact, there have been murmurs in some quarters that the U.S. nurtured a grouse against Iraq since Saddam Hussein switched some of its billions to Euros from U.S. dollars in 2000 (or a year later). In fact, it turned out to be a wise move as the subsequent Euro recovery meant Iraq made a sizeable profit from the switch.

    It is in the interest of the rest of the world for the stranglehold of the U.S. dollar to end. That is the logical way to go if there is merit in the belief that the future lies beyond American shores.

    Gold, Not an Option: But what are the choices we have to make this happen? Gold is an unlikely option despite the current rally in its price and the reasonable stability it enjoys. There is simply not enough gold for sustaining the global economy as you will see in a report at http://www.tmcnet.com/usubmit/2009/02/27/4020858.htm . According to the report, “there are roughly 142,000 known tons of gold held throughout the world. Given current values, this equates to roughly $4.2 trillion, which is about the same amount of money circulating in America today.”

    It does not help that the Euro is also hitting the pits, no thanks to the interest rate cuts triggered by the collapsing economy.

    No Need for a Single Alternative: But it beats me as to why there should be a single alternative to the dollar? It may have made sense in the past when the U.S. was the sole superpower. Not any longer! So, why cannot bilateral trade between countries be denominated in any currency of their choice? There has to be room for other currencies to show strength that is consistent with the growth potential inherent in the economies of the respective countries.

    Otherwise, the Chinese government will not allow its yuan to appreciate in line with market trends to protect domestic interests and the Indian rupee will continue with its downward spiral even as the two countries have no qualms boasting a GDP growth of around 8%.

    Singapore’s government investment arm, GIC, also advocated holding the Japanese yen, Chinese yuan and the Canadian dollar that appeared to be safer havens amid the turmoil in the stock markets.

    Innovation Ranking: These are just alternatives as the fall in U.S. fortunes goes beyond economics. Even in the innovation stakes, Singapore has come out tops in not one but two separate global rankings carried out by independent U.S. research groups and released recently. In the first study (carried out by the Information Technology and Innovation Foundation), the U.S. came in at number 6 and the U.K. number 8. India occupied the 40th position and China the 33rd.

    This is an indication that the U.S., having long lost its manufacturing edge, has begun to see R&D activities also move outside of its terrain. For more information on the innovation rankings, you may check out http://www.straitstimes.com/Breaking%2BNews/World/Story/STIStory_343134.html and http://mmadan.wordpress.com/2009/03/03/singapore-tops-innovation-based-competitiveness-list/

    The second innovation ranking study put Singapore at number one and the U.S. at number eight. It was conducted by the Washington-based National Association of Manufacturers (NAM) and the Boston Consulting Group. Details on this ranking can be checked out at www.nam.org/innovationreport

    Next, with the waves that Business Process Outsourcing (BPO) began to make, the U.S. lost further charm on the support and services front as well.

    But, perhaps the last nail on the coffin was the failure of its financial institutions in their totality, making the rout complete for the U.S.

    It is time for the greenback to give up its hegemony!

    --G Joslin Vethakumar

    March 15

    Moving Tale of Two Brave Kids

    Seven-year-old recovering from “Medical Miracle” in the U.S.

    Doctors Save Boy Speared by Rod in India

    Two brave kids under eight moved me to tears over the last few days. The first is of a seven-year-old American girl who is “walking and talking like any other normal child” after a 23-hour surgery that saw doctors remove six of her organs in an effort to remove a turmour of the size of a tennis ball tangled among them (organs).

    Here is a video that shows the cute little girl sweetly thanking her doctors and the hospital and exhorting others, with a captivating smile, not to ever give up hope -- http://www.newsday.com/news/health/ny-ligirl0311,0,257405.story .

    The other is of a six-year-old boy who is recovering after doctors at a hospital in India removed a two-metre road that had speared him in a fall from his home terrace. Read about it at http://news.bbc.co.uk/2/hi/south_asia/7941440.stm

    These medical successes reinforce my firm belief that there can be no profession greater than medicine.

    --G Joslin Vethakumar

    March 10

    CAP Award at Cisco Amid Trying Times

    Surprise Reception on Return to Work from Medical Leave

    A pleasant surprise -- – a cash reward under the Cisco Achievement Program (CAP) -- awaited me as I returned to work yesterday after a three-week medical break. My first reaction was a chuckle as the timing made me wonder if it was a CAP award or a sympathy reward.

    It is not out of place to nurture apprehensions of ominous portents, particularly in times like these, if a company gets used to an employee’s absence. So this rewarding experience was heartening.

    Whether or not this calls for any chest-thumping, the last two quarters prior to my hospitalisation in mid-February were hectic with activities centred on several major must-win opportunities in the region.

    CAP awards are given to individuals for “outstanding achievement and contributions”, as defined by the company under its compensation guidelines.  I have won several CAP awards since I joined Cisco in August 2005. But this one is special as it comes even as the world goes through its worst recession ever.

    This reminds me of the 15% pay increase I received at Lucent Technologies in 2002 when the company was facing severe business challenges, retrenching staff quarter after quarter while talking to potential suitors.

    With all this trumpeting, you will now know how humble I am! J

    --G Joslin Vethakumar

    March 06

    ERCP and Gallbladder Surgery at Mount E Cost me S$18,400

    Treatment Not Cheaper Than in the U.S. or the U.K.

    Exploitative Practices at Raffles Hospital Even while Being Ill-Equipped on a Sunday

    My recovery is still not complete, but my metabolism is such that even for a minor ailment the healing process takes long.

    But let me not digress as the purpose of this post is to focus largely on the cost factor in medical treatments in Singapore for the benefit of those who chance to read this.

    The three days I spent at the Mount Elizabeth Medical Centre cost me S$18,400 – covering hospitalisation, ERCP and the gallbladder surgery. In addition, I spent around S$2,000 on treatments spread over six days prior to hospitalisation. I am bound to incur some post-discharge review costs as well.

    The costs were much more than what I anticipated. A Google check showed that if I had opted to have myself treated in the U.S. or the U.K. that will have set me back by roughly around the same amount.

    If I had gone to India instead, treatment at the best of the hospitals there will have cost me around one-fifth of what I spent here. Such hospitals have world-class facilities and engage doctors who can match the best anywhere.

    Even within ASEAN, countries such as Thailand and Malaysia offer international-standard medicare at a fraction of the costs one may have to fork out in Singapore and the West. It is thus no surprise that medical tourism is gaining traction in those countries.

    Chennai Roads and Post-Surgery Rides: On my way back home after discharge from the hospital, the taxi ride was largely smooth except when it had to ride over speed-breakers. Even during the ride I couldn’t help imagining what my fate will have been if I was returning to my home in Ambattur after surgery.

    With some of the world’s worst roads there, the ride will have been hellish for me. In fact, even the roads leading to the MM Hospital (run by the Madras Medical Mission) in Mogappair near Annanagar are in such awful shape that it is a mystery as to how patients have been surviving the rides there. You will not move an inch without bumps. But then in India who cares about the welfare of the people! The country’s leaders only care about the elite, so the areas they live in are well tended.

    Quality of treatment: Now back to the treatment in Singapore. It was on a Friday evening, when I was working out at a gym, that I started to experience severe chest and abdominal pain. As it persisted, I stopped exercising, took a shower and went to a clinic. A basic ECG there made sure that it was not cardiac pain, so the doctor gave me some antacids and some stomach/gastric medicine. But, even as I was returning home, I vomitted in the cab (using the plastic bag the driver gave me) and I started to shiver because of high fever. That night and the next were perhaps the worst I had lived through – with unbearable chest and abdominal pains.

    $450 for a blood test at Raffles Hospital: On Sunday morning I went to a clinic near my home and the doctor there referred me to the Raffles Hospital. There, at the Emergency section (since it was a Sunday), the doctor on duty examined me and wanted some blood tests to be done. I had to fork out S$450 for this– something that will have cost me less than $100 in any other hospital in Singapore. Costs are generally higher on Sundays. But I thought five times the normal cost was a little too high though I had no energy to argue over it.

    What annoyed me was that two hours after the blood sample was taken, the report that was delivered was only partial. The full report, they said, would only be available the next day, thereby making a mockery of higher payment on a Sunday.

    Then I was advised to go for an ultrasound scan, but the specialist was not available then. The normal cost for it there is S$100, but if I wanted the specialist to come over to do the scan I was told I would have to pay S$360. Even then I will have to wait for two to three hours for it to be done. Cost was not an issue for me thanks to my insurance coverage. I found it shocking to find how ill-equipped (on a Sunday) and exploitative one of Singapore’s premium hospitals was.

    I felt it made no sense for me to pay more and wait several hours. Even if I had waited for the scan to be done there, no specialist (gastroenterologist/surgeon) will have been available there that day to treat me based on the results.

    So I asked for the scan to be done the next morning. But I was told the earliest available slot was 3.45pm on Monday, and that I would have to fast for six hours before the scan. If one has to fast so long, the best time for a scan will be in the morning. So I requested that I be given time in the morning for it. The hospital said that was not possible.

    Then I asked them how long I would have to wait for the report after the scan. “Three hours,” was the casual reply. That meant the report would have been ready by 7pm by when all specialists would have disappeared.

    Mount Elizabeth: At this point I lost my cool, made my displeasure clear to the staff there and left the Raffles Hospital. Then my wife called the Mount Elizabeth Medical Centre, an equally big (if not, bigger) hospital here, and requested a scan slot for the morning. They were quick to accommodate me for one as it is something that takes only around 15 minutes.

    The result was out in an hour and I was able to talk to a surgeon and a gastroenterologist the same day.

    A few years ago, my second daughter had been admitted there after she spent more than a week at the KK Hospital where she was advised to go for an appendicitis operation after a scan. She had very high fever and was feeling anaemic, but it occurred to me it was wrong diagnosis. So I immediately moved her to the Mount Elizabeth hospital where a paediatrician was able to bring her back to normal within a day without any surgery. That was a happy experience for me then, something that made my decision to stick to Mount E this time easier.

    Not so Satisfying This Time: Generally, specialist care in Singapore is world-class. But I cannot say this time it was wholly satisfying for me though I was pleased with the doctors. Post-discharge care, through reviews and advice, have been good as well. I was not lucky with the support staff -- lab technicians, nurses, etc. Some were good and some not so good.

    When I went through ERCP, the sedation did not last the full procedure and, as a weakling even on healthier days, the discomfort I will have been through is not hard to imagine though I was still in a daze. But it appears the sedation issue is not uncommon and occurs at hospitals globally.

    Then, the next day, after the surgery to remove the gallbladder, I was in agony as no painkiller had been administered. It was done only after a request from me. It took a while as the nurses had to get permission from the doctor to give me an analgesic (meperidine/pethidine). This is understandable, too, as this high-alert drug is a narcotic compound as well. Yet, I cannot help wondering if there is no painkiller other than an opioid analgesic.

    Also, I still have pain on my wrist caused by the needle for intravenous administration of antibiotics. Even while in the hospital, there were clots a couple of times and that had to be cleared through a liquid infusion.

    Even the blood sample was not taken clean. When a second round of tests had to be done (as the first was at the Raffles Hospital) the same vein was used for the jab and that left me with a small swelling for a week.

    The bottomline is that things could have been done better at Mount E. High costs have to necessarily translate to better care.

     

    --G Joslin Vethakumar

    March 04

    My Minus-One Decision and its Implications

    But GDP Contractions and the Minus Syndrome in the Global Economy are Alarming

    I am getting used to long breaks from blogging. But a pause, either forced or voluntary, has seldom exceeded two weeks – plus or minus a day or two!

    In this instance, it is plus a few days, but it is minus that is writ all over. This M-word assumes a new significance with this resumption in blogging as it is now a new me, minus one organ. I am not sure how many organs the human body has – perhaps less than 40. Whatever that count is, I will have to subtract one from it having had my gallbladder surgically removed a couple of weeks ago.

    I don’t know if I took the right decision. Three days of severe abdominal pain were all it took for me to heed the advice of surgeon Dr Jeyaraj Prema Raj (who performed the gallbladder surgery) and gastroenterologist Dr Benny Ang Cheng Nee (who carried out the ERCP) of the Mount Elizabeth Medical Centre, even without getting any local second opinion.

    However, a paediatrician cousin of mine did reassure me that I would be fine with it, pointing out that gallbladder surgery was common. I am quite close to her and I valued her opinion.

    And a day before my hospitalisation, when I was at my late friend NS Kumar’s home to pay my last respects to him (my earlier post was devoted to him), his doctor daughter, who was here from London, told me I would emerge a new person from the surgery. She was already in mourning at her father’s wake, and it was sweet of her to offer me her thoughts.

    Oily, Fatty, Spicy: The implications of the surgery are simple – I will have to avoid oily, fatty and spicy food as much as possible although my doctor said there was no need to go overboard with dieting. For someone who loves Indian food, I could not have ended up with a worse bargain. I will perhaps get used to bland food and that may be a blessing in disguise! Even if I follow a strict diet regimen, I may have to brace up for regular bouts of diarrhoea although I hope I will be among the 10% who escape that.

    There was cheer from it all, too! Soon after I posted my blog on my health, some friends whom I had not been in touch with for quite a while either called me or wrote to me to wish me a speedy recovery – from New Zealand, India, the U.S. and the U.K. I was really touched, particularly considering that my circle of friends is very limited. That goes to prove that the quality of friendship is more important than having a heap we can gloat over. It was particularly heartening to note that they had been reading my blog regularly as their way of being in touch with me.

    That positive side amid the negativities aside, it is too late to be discussing my minus-one decision that was arrived at after all necessary lab tests, including an ultrasound scan of the abdomen. All I can do now is hope that it was the right decision, as the doctor put it, since it may help me avoid pancreatitis in future.

    Minus Syndrome in Global Economy: So, being in the Minus zone does have some pluses spouting positive connotations occasionally!

    But where it gets alarming is in the economic mayhem enveloping the world. My absence from blogdom did not mean I had turned into a Rip Van Winkle. Newspapers and television have been ensuring that I am not cut off from the world. So I have been closely following how the developed world, from the U.S. to Singapore, has been slipping deep into minus territory with negative GDP rates.

    Singapore Prime Minister Lee Hsien Loong has even cautioned that a GDP of minus 8 is a possibility.

    Nonsense from Obama: While that is too grim, even pretentious, a projection and does not merit any close scrutiny what really made me chuckle is Barack Obama’s dream that the U.S. will emerge stronger than ever from the mess it is trapped in.

    He must be either living in a world of make-believe or behaving like jingoistic Third World leaders who fool their people with such pronouncements far removed from reality.

    For one thing, amid an unprecedented GDP contractions budget deficit is expected to be in the range of US$3 trillion (around double the figure that was put forth by the government). This is a figure so astounding that it represents around 20% of the GDP.

    With this kind of scary details, Obama is out to fool not just Americans but the world as well by trying to paint a rosy future picture for the U.S.

    The U.S. is already showing evidence of being infected by the Third World syndrome of protectionism and nationalisation that point to the failure of capitalism and market mechanics. I am not against protectionism as that is something we are so used to in Asia. But what amuses me is that the world (at the recent ASEAN summit in Bangkok, for instance) is still advocating a free market, unregulated economy.

    When saner minds are clear that the future lies in the emerging world and that the American model of hype and hyperbole will not work any more, it is strange that Obama is taking shelter under populist garbage and even winning acclaim for it within the country that we believed was made up of an enlightened populace. That foundation has now begun shaking dangerously!

     

    --G Joslin Vethakumar