 Return to LNP
This News Site:
Lanka Newspapers is the largest Sri Lanka News forum online. Thousands of Sri Lankans from around the world gather here daily to discuss current news events of Sri Lanka. Join Today!
|
|
|
Inflation in Sri Lanka hits a new record of 20.5% in January
Full News Article
SWRD
Joined: Apr 2006
Posts: 307
Member Profile
|
1 Feb 2007 00:32:13 GMT Report for Abuse
|
These are all capitalist measuers. We don't care all those idicators put forward by global economy undermine developing countries. We recently read a news item that Sri Lanka moving soon to a middle income country.
Apart from all these we are now embarcing new economic super powers, India and China. President going to China next month. He now worries about India and China. Those who like these Western economic indicators can stuff them in their .....
Best piece of economic analysis i've seen in years! why worry inflation is a western concept? doesn't affect lankans, lankans live the lankan way. why worry no one has died of inflation. president is going to china, china has ancient medicine for inflation. all our problems are solved.
you guys are underestimating mahinda. he is a shrewed cookie. he used the slfp to come to power and now using the unp to run the country. always the slfp's recipe for success at elections is envy; playing 'have nots' against 'haves.' in sl there are more of the former. when it comes to running a modern economy the slfp has always lacked people of ability or experience. by this move mahinda has just borrowed them from the unp.
Edited By - SWRD - 1 Feb 2007 00:40:45 GMT |
kiora
Joined: May 2006
Posts: 22
Member Profile
|
1 Feb 2007 00:58:01 GMT Report for Abuse
|
| I saw Central bank Governor Mr Cabraal he was having a good time in Cinnamon Garden Hotel enjoying a good nee sup last year at a wedding just after having been appointed as the Governor is the honeymoon is over already. This is just a observation so don't take this as serious news. |
nirupam
Senior Member
Joined: Aug 2005
Posts: 2221
Member Profile
|
1 Feb 2007 01:56:03 GMT Report for Abuse
|
They and their children are alright, why should they care?
Record number of cabinet ministers, increasing the money supply by printing bank notes, borrowing in the open market to finance the war machinary, recruitment of more sondiers are contributing towards inflation, but, why should they care? They are alright, their children alright why should they care? |
justman
Joined: Mar 2006
Posts: 804
Member Profile
|
1 Feb 2007 03:41:57 GMT Report for Abuse
|
SWRD!
Inflation is not a capitalist problem or unique to the Western world.May I ask if the price of a coconut goes up by 20% in a year? Isn't it now common in SL,ask the man in the street? that's inflation,where the printed money loses it's value,as days goes by.Remedy for this is common to all countries,and the developed world have the lowest inflation due to stringent controls of money supply,government expenditure, etc.Why go to India and China to seek a solution?These countries are very much strict with the state expenditure and as a result very little money is doled out as welfare to the vast majority of their people.Hardly any good free hospitals,rural roads etc.They thrive on copied industries either of the Western countries or Japan.Examples for India are their buses,which are old Leyland or Benz,cars either from UK or Japan old models.For China,is the biggest copier of Western technology like computers and GM cars and trucks.The list is endless.their recent rocket science is based from Russia and USA.most of our Emigrants want to settle in the Western Capitalist countries,not in India or China. |
Bheesan
Joined: Apr 2006
Posts: 784
Member Profile
|
1 Feb 2007 03:55:47 GMT Report for Abuse
|
I can give a good example how capitalist countries manupulate economic products, how they engineer economic indicators so that other countries get the shivers. About five years back there was trepidation in the conomic world that suddenly currency ratings were going up and all developing countries and middle icome countries were asked to devalue(or may revaue the their currecies) or something like that. Everybody was doing what the world bank was asking to do?
But Dr. Mahthiar refused. I still admire what he did? He said these were work of some jewish stock speculator. I can't remember what he did, but that was the end of that problem.
Many rich countries today had skyrocketing inflations sometime or the other.
I can tell to all these LTTE dollar collectors this inflation (if it is rightly calculated by the dogey economists in the central bank) is not because LTTE lost Vkarai.
Edited By - Bheesan - 1 Feb 2007 04:00:31 GMT |
Kamal2006
Joined: Jun 2006
Posts: 61
Member Profile
|
1 Feb 2007 04:45:36 GMT Report for Abuse
|
Justman, These growth rates of India reflect the actual scenario compared to what you projected :
Economy growth : 9%
Agriculture : 6%
Manufacturing : 9.1%
Construction : 14.2%
Trade, hotels 7 Restaurants : 13.9%
Finance, Insurance & Real estates : 10.9%
Per capita income ; Rs 20,734/- (USD 460 )
The latest news is that Tata Steel has become the world's fifth largest steel company. |
SWRD
Joined: Apr 2006
Posts: 307
Member Profile
|
1 Feb 2007 05:04:30 GMT Report for Abuse
|
SWRD!
Inflation is not a capitalist problem or unique to the Western world.
justman,
comeon. I was just taking the mickey out of something someone said. You should learn to read between the lines sometimes!
apart from the inflation and the jumbo cabinet ( which he didnt have much choice about) mahinda has done remarkably well during his time in office. Just compare him to cbk. I am not an admirer but have to give the devil his due.
Remedy for this is common to all countries,and the developed world have the lowest inflation due to stringent controls of money supply, government expenditure, etc.
true in recent times but don't be too hasty to admire everything so called 'developed.' There were times in the US in the 80s when inflation hit 19%. people were selling their gold fillings! Why the inflation is not sky high in the US with record deficits is a much more complex issue to talk here. If you so desire we can talk about it at a later time.
Why go to India and China to seek a solution?
don't be silly, other countries have always solved our problems. Can you tell me one problem the sinhala/Buddhists have solved? apart from spreading of Christianity by building temples in front of churches and blasting bila through megaphones!
These countries are very much strict with the state expenditure and as a result very little money is doled out as welfare to the vast majority of their people.Hardly any good free hospitals,rural roads etc.
this shows you have not studied the mahinda chintanaya. Where does it say that the people have to work? All they have to do is just vote for the chintanaya and all their needs will be taken care of. The government takes care of the peoples needs and other countries take care of the governments needs. We all live happily ever after.
Everybody was doing what the world bank was asking to do?
But Dr. Mahthiar refused.
this is true and it is a lesson in economic and foreign relations management if people care to study. But why worry? India and china will do it for us. All we have to do is just let the chinthanaya take care of it.
Edited By - SWRD - 1 Feb 2007 05:06:15 GMT |
kiwikanga
Senior Member
Joined: Nov 2005
Posts: 1928
Member Profile
|
1 Feb 2007 06:32:16 GMT Report for Abuse
|
With all the development that is supposed to be taking place in SL 20.5% is not enough. MR & Co is targetting at least 75% inflation by the end of the year!
Edited By - kiwikanga - 1 Feb 2007 06:33:00 GMT |
kiwikanga
Senior Member
Joined: Nov 2005
Posts: 1928
Member Profile
|
1 Feb 2007 06:35:49 GMT Report for Abuse
|
Kiora, Kia Ora!
While the Governor was wining and dining at the Cinnamon Garden Hotel (?) what the hell were you doing there? Wining and Dining or, simply put in your own words,Pissing or Wanking?
Haere Mai!
Edited By - kiwikanga - 1 Feb 2007 06:37:41 GMT |
Kulakottan
Senior Member
Joined: Nov 2005
Posts: 2582
Member Profile
|
1 Feb 2007 07:31:54 GMT Report for Abuse
|
According the Governor of the Central Bank, Mr Nivad Cabraal, the inflation is running high not because the prices or COL have gone up, but because the Sri Lankans are becoming wealthier!!
Theoretically, he could be right too!!!
So, very soon, perhaps before the end of MR's term we may become a developed nation!
hahaha!
What more can you ask from a ruling party????
Don't be too greedy!
Land like no other, particularly under this Government! |
|
Search All News and Discussions