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Obama Will Save Us!

Good news on global crisis. A genuine expert has spoken at last. Nobel Laureate Amartya Sen succinctly explained in a TV interview what this entire so-called crisis was all about. He revealed how it could be defused.

Rajinder Puri

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As a layman ignorant about the economy, I was petrified by the dire future of what Merrill Lynch has described as global recession. My economist friends to calm me said: "Relax! Only in depression will you lose your job. In recession, only your neighbour will lose his job." That reassured me. My neighbour is very rich but nobody knows if he has a job. However a few days ago all my worries vanished. It seems that all these so-called economic experts are scaring us simply for perverse pleasure.

A genuine expert has spoken at last. Nobel Laureate Amartya Sen succinctly explained in a TV interview what this entire so-called crisis was all about. He revealed how it could be defused. Mr Sen conceded that there was recession, but was not sure how deep it was. In other words not my immediate neighbour but neighbours who live some blocks away might lose their jobs. They too need not worry. Mr Sen explained why the recession occurred and how it can be made to disappear.

He said: "In a recession you have to see to what extent it has been caused by a gigantic external problem, but there has not been any external problem. It's just that people lost confidence…. The positive side is that just as (the economy) can decline by lack of confidence, once confidence comes in it can also dramatically improve. Like, suppose there is a change in government….I hope Barack Obama can win… he speaks presidential anyway… when that happens I think you will see the confidence turn around quickly."

Phew! So it was all about confidence! And the first to lose confidence were the super rich bankers and financiers. They lost so much confidence that they ceased to lend money to each other. After that naturally everybody else lost confidence too. That is why the recession. But now everything is all right. The super rich who lost confidence in George Bush have regained confidence in Barack Obama. That is why everybody will regain confidence once Obama is in.

The super rich have regained so much confidence that Obama could afford to spurn Federal poll funding and managed to acquire the biggest campaign fund in US history. He has exceeded the Bush campaign fund for the second term. Obama is spending more than four times what McCain does on advertising. So how can he lose? Thanks to Goldman Sachs and buddies who first displayed confidence in him, Obama's list of donors continued to swell. After his expected victory – poof! The global crisis will start to fade and disappear. Don't underestimate Amartya Sen. He knows what he's saying.

Let us pray that by some miracle McCain does not win. If he wins the consequences are too horrible to contemplate. The confidence of the super rich bankers will plumb to new depths. Holy cow, how depressing will that be?

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Filed In Topics: USA, Rajinder Puri

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Oct 28, 2008 12:00 AM 22	The Banks failed because there was no regulation. De-regulation philosophy of Republicans made thieves out of greedy bankers. A civil society needs good governance. Good governance doesn't necessarily mean communism. It's the middle path. Obama will bring in good governance. He has more to gain by being a good President. The Republican failure gave him the opportunity. Raj Chicago, United States
Oct 26, 2008 12:00 AM 21	"Is Obama gifted with some kind of magical power to make the recession go away." Yes. He is the Messiah. He will say "Let there be no recession" and there will be no recession. The only thing the Messiah cannot do is to make Joe Biden NOT goof up. Ganesan Nj, USA
Oct 26, 2008 12:00 AM 20	Is Obama gifted with some kind of magical power to make the recession go away. Or is the recession some kind of monster to be drivery away. It is wishful thinking that any particular presidential candidate can solve this problem. The mess is real and will definitely take more than a president elect to fix. It would be simplistic, nay naive to choose a candidate based on some freakish assumption. All that talk sounds good, but isn't going to necessarily work wonders. BLACK DOG Hoboken, United States
Oct 25, 2008 12:00 AM 19	Sen and others of his elk are one who read popular sentiment and then te play it to perfection and end up being in the limelight. Well, Obama is no different - he is articulate, younger than McCain and will say everything/anything that will get him the presidential seat. Ironically, he should be winning the election without any effort since no one wanted to vote for Republicans for third time in a row but he has managed to make it competitive by his hedging. He will still win but it'll probably be the fakest win after GWB's Florida chad win. Either way , US and World are doomed but thanks to Puri we do have an insight into the great brain of Sen. escoss delhi, India
Oct 24, 2008 12:00 AM 18	Obama will win and yes Obama will bring back the surplus of Bill Clinton. He is also good for the American society because he is the uniter which is the future America. In 50 years, whites will be a minority in America. The country is slowly turning brown. Change in the form of colored people in high positions started with Colin Powell and Condi Rice (I'll give one to Bush for that). Obama is the logical next step. Don't be surprised if Bobby Jindal becomes a President someday. There will be challenges but Obama will definitely make a better president than McCain the "sidekick" (he voted 90% of the time supporting Bush). Maverick, my a$$. Raj Chicago, United States
Oct 24, 2008 12:00 AM 17	Amartya Sen is apparently angling for some kind of prestgious government job,if Obama wins.All these professors at major American universities have been salivating similarly for an Obama win.They are dreaming about the return to the days of Kennedy when professors ruled the roost and made an unholy mess of things. Ramgopal Yanamadala Kanchikacharla, India
Oct 23, 2008 12:00 AM 16	What a Load of Crap! Obama and McCain are two sides of the same coin. Obama is "more of the same" with a different spin. Both sides have people that were very involved in the Genesis of this very crisis. Believing that Obama is a "miracle" or "Second coming of Christ" would lead to grave disapointments. "Change" as represented by Obama would be only in sense that there would be a change in scenery and only in the symantics in the policy matters. Only thing that would change is that Americans might get a better Health services system if he could only get away with it. Subroto Chatterjee1 Kolkatta, India
Oct 23, 2008 12:00 AM 15	Stopperbhai, >> The most confused lot are the immigrant Muslims living in America particularly in this election year. Where do you find such nonsense? It must be a product of your closed mind! Anwar Patel Dallas Tx, United States
Oct 23, 2008 12:00 AM 14	If Amartya Sen had actually said the things mentioned in the article, he is a bigger dunce than I thought. Ganesan Nj, USA
Oct 22, 2008 12:00 AM 13	Mr. Puri Maharaj- The entire economic hullabaloo is because of few CEOs who freaked out the public money in Islands and Bars flirting with best bitches/skins in the world. The CEOs of those bankrupt businesses in USA had a ball of public money. For no reasons and rhymes were they paid in Billions with stocks and shares. It's not F! consumer confidence but ignorance about these craps normally happen at the top of the coroporates across the world. When IMF and The World Bank are of complete corruption, never-care nepotism, and feminine favoritism, where else can we expect corporate transparency???? The greed of making 'quick bucks' has pushed the world economy to recession. When hunger stops, peace begins..... Zak NY, United States
Oct 22, 2008 12:00 AM 12	corrected: Puri Pa ji Amartya Sen could well be right !!! The current crisis of confidence in the financial world at the moment looks like a flying kite in the sky ... when it dives it is difficult to control, but when it reverses it flies even higher tha its previous highs ... Obama could prove to be just that catalytic reversal ... Vijay Agarwal Northampton, United Kingdom
Oct 22, 2008 12:00 AM 11	What if he was talking to a TV audiance . Even a man who cannot count his coins will not make such absurd simplication. Sen has recently written a few newspapers articles here which were downright oversimplication of complex issues. MANISH BANERJEE KOLKATA, India
Oct 22, 2008 12:00 AM 10	Puri Pa ji Amartya Sen could well be right !!! The current crisis of confidence in the financial world at the momemht looks like a flying kite in the sky ... when it dives it is difficult to control, but when it reverses it flies even higher tha its prvious highs ... Obama could prove to be just that catalytic reversal ... Vijay Agarwal Northampton, United Kingdom
Oct 22, 2008 12:00 AM 9	If this is supposed to be a spoof on Amratya Sen, it fails. The professor was talking to a television audience, not to an economics seminar. He gave some simple examples to make a point about the psychology of the markets. His remarks do not lend themselves to satirization. Anwar Patel Dallas Tx, United States
Oct 22, 2008 12:00 AM 8	'First to loose confidence was superrich bankers'. Bankers did not loose confidence, may be the banks did.Bankers scooted with the loot well in time,leaving governments to hold the baby. Bankers, now taking a break in their penthouses, will be back in hordes as soon as governments do the repair job with public fund. One does not call a Nobel Lauriet knaive or over the hill , but is it not knaive to expect that every thing will be hunky dory with Obama in the saddle.Afterall it was Obama's party which wanted to give Bush carte blanche with $700 billion worth of taxpayers money to just re-fund the banks with not so much as a 'let me know what you did with the money'.Pepublicans put an end to that & laid down some accountability norms( no thanks to Bush). Much reviled Gordon Brown did a wonderful job to meet crisis head on & led E.U in restoring a semblance of order in this mayhem.But then Brown is not good TV footage. We in India are in for trouble as powers that be are looking at one side of the problem as is their norm. Consequences of ad hoc relaxing of CRR ,Repo rate,interest rate, bail out of inefficient corporates, will no doubt bring relief to corporate fat cats. It is the common man who will bear the burnt of consquent inflation & joblessness.Inflation does not hurt the rich nor do they need a job. MANISH BANERJEE KOLKATA, India
Oct 22, 2008 12:00 AM 7	Mr. Puri, If you don't have anything else to write about, just rub your groins; have a deep sleep in your couch. Obama Will Save Us! Yes, Obama will save United States when he gets what he wants. Sara Palin is not a hockey mom but a PLAYBOY mom. She's just an empty vessel that keeps making noise. John McCain will anyhow die - be it elected or defeated - in few years. Sarah Palin will seperate Alaska from USA and form a new country. Her divorced Brother-In-Law will be hunted down. Her pregnant daughter by fantasy wil bear another 5 babies for the same guy or the other. Her down-syndrome youngest kid will have all the free treatement in the world. Asif Zardari will be sharpening his mutton-fed wand for her in Islamabad. USA will be lead by a dumb president, if McCain wins the election and dies in the middle. The way McCain talks, walks, and smiles - looks like he will die any time. Sarah Palin reminds me those Street Walkers on those NY streets in the nights. Barrack Obama will be an example of Global Tolerance and Peace. Vote for BO! Zak NY, United States
Oct 22, 2008 12:00 AM 6	bULL BANKS DO NOT DECLARE BANKRUPCY JUST BECAUSE THEY HAVE LOST CONFIDENCE.. AS LONG AS DOUGH IS THERE THEY WILL KEEP OPERATING.. VERY FACT THAT THEY FILED FOR BANKRUPCY TELLS THERE IS MORE OT IT THAN MEETS THE EYE.. AMRTYA SEN LIKE A TRUE LEFTIST IS JUST TRYING TO PORP UP ULTRA LEFTIST OBAMA.. Rahul Delhi, India
Oct 22, 2008 12:00 AM 5	Sen is just another vacuous Bongo, issuing whining Robindrashongeet. Iqbal Z Pune, India
Oct 22, 2008 12:00 AM 4	" Obama Will Save Us! " From Soniya to Obama, what a progress in 13 years. but be careful, What will happen to Outlook if Soniya listen to this. Devendra Patel Ahmedabad, India
Oct 22, 2008 12:00 AM 3	Obama is running but not his Republican Opponent Mccain. It is Palin, his running mate, who is doing that job, carrying Mccain on her shoulders! Though Opinion Polls show Obama leading, still it may be misleading. The road to the White House is not clear yet for him. With her un-orthodox statements and actions, she is getting more TV coverage than any one else. She is also getting aggressive support from Conservative Republicans and Talk-Show Tycoons who think she is the Future of the Party. Her Opponent Joe Biden is not to be seen or heard. If things move this way for another one week, this Alaska Governor, censured for her abuse of power for the gains of her family, may reach the Finish line with the burden on her before Obama could breach it. And what is more! It is reported that electronic Voting Machines installed in polling booths in certain Battle ground States like Florida, are not working the way they should. If one presses the button for Obama, it is Mccain who takes the vote! And Mccain says that remaining as an Under-Dog only he always won the elections! T.Sathyamurthi Folsom, United States
Oct 22, 2008 12:00 AM 2	Sen is right in the sense that the consumer confidence is the key. This will be the RESULT of stabilization in the housing sector through flow of money through STRONG pipelines. Whatever Sen may have meant by confidence, he can not be faulted on that score. Where he is at fault is in his "confidence" in the Obamania. Obama can not be faulted with even ONE original idea, thus far, on the economic front-other than telling oe the Plumber that he wants to REDISTRIBUTE the wealth-so musical to the ears of the European and the Indian Socialists, like Sen. As in India, the prescription is not on CREATING WEALTH, but on distributing POVERTY. Look at the former USSR, North Korea, Cuba and the former East European countries-besides India! Even more alarming is Obama's ties to the radical left and the theocratic fascists like Louis Farakkan who called Obama a Messiah! hindu Varanasi, India
Oct 22, 2008 12:00 AM 1	"Obama Will Save Us!" Yeah! He is the Messiah. He can turn water to wine, walk on water, feed multitudes with one fish(Jesus needed more than one fish) etc. And just by his look will the world be covered with prosperity. After all he is out to spread the wealth. Ganesan Nj, USA

Oct 22, 2008 12:00 AM 1	"Obama Will Save Us!" Yeah! He is the Messiah. He can turn water to wine, walk on water, feed multitudes with one fish(Jesus needed more than one fish) etc. And just by his look will the world be covered with prosperity. After all he is out to spread the wealth. Ganesan Nj, USA
Oct 22, 2008 12:00 AM 2	Sen is right in the sense that the consumer confidence is the key. This will be the RESULT of stabilization in the housing sector through flow of money through STRONG pipelines. Whatever Sen may have meant by confidence, he can not be faulted on that score. Where he is at fault is in his "confidence" in the Obamania. Obama can not be faulted with even ONE original idea, thus far, on the economic front-other than telling oe the Plumber that he wants to REDISTRIBUTE the wealth-so musical to the ears of the European and the Indian Socialists, like Sen. As in India, the prescription is not on CREATING WEALTH, but on distributing POVERTY. Look at the former USSR, North Korea, Cuba and the former East European countries-besides India! Even more alarming is Obama's ties to the radical left and the theocratic fascists like Louis Farakkan who called Obama a Messiah! hindu Varanasi, India
Oct 22, 2008 12:00 AM 3	Obama is running but not his Republican Opponent Mccain. It is Palin, his running mate, who is doing that job, carrying Mccain on her shoulders! Though Opinion Polls show Obama leading, still it may be misleading. The road to the White House is not clear yet for him. With her un-orthodox statements and actions, she is getting more TV coverage than any one else. She is also getting aggressive support from Conservative Republicans and Talk-Show Tycoons who think she is the Future of the Party. Her Opponent Joe Biden is not to be seen or heard. If things move this way for another one week, this Alaska Governor, censured for her abuse of power for the gains of her family, may reach the Finish line with the burden on her before Obama could breach it. And what is more! It is reported that electronic Voting Machines installed in polling booths in certain Battle ground States like Florida, are not working the way they should. If one presses the button for Obama, it is Mccain who takes the vote! And Mccain says that remaining as an Under-Dog only he always won the elections! T.Sathyamurthi Folsom, United States
Oct 22, 2008 12:00 AM 4	" Obama Will Save Us! " From Soniya to Obama, what a progress in 13 years. but be careful, What will happen to Outlook if Soniya listen to this. Devendra Patel Ahmedabad, India
Oct 22, 2008 12:00 AM 5	Sen is just another vacuous Bongo, issuing whining Robindrashongeet. Iqbal Z Pune, India
Oct 22, 2008 12:00 AM 6	bULL BANKS DO NOT DECLARE BANKRUPCY JUST BECAUSE THEY HAVE LOST CONFIDENCE.. AS LONG AS DOUGH IS THERE THEY WILL KEEP OPERATING.. VERY FACT THAT THEY FILED FOR BANKRUPCY TELLS THERE IS MORE OT IT THAN MEETS THE EYE.. AMRTYA SEN LIKE A TRUE LEFTIST IS JUST TRYING TO PORP UP ULTRA LEFTIST OBAMA.. Rahul Delhi, India
Oct 22, 2008 12:00 AM 7	Mr. Puri, If you don't have anything else to write about, just rub your groins; have a deep sleep in your couch. Obama Will Save Us! Yes, Obama will save United States when he gets what he wants. Sara Palin is not a hockey mom but a PLAYBOY mom. She's just an empty vessel that keeps making noise. John McCain will anyhow die - be it elected or defeated - in few years. Sarah Palin will seperate Alaska from USA and form a new country. Her divorced Brother-In-Law will be hunted down. Her pregnant daughter by fantasy wil bear another 5 babies for the same guy or the other. Her down-syndrome youngest kid will have all the free treatement in the world. Asif Zardari will be sharpening his mutton-fed wand for her in Islamabad. USA will be lead by a dumb president, if McCain wins the election and dies in the middle. The way McCain talks, walks, and smiles - looks like he will die any time. Sarah Palin reminds me those Street Walkers on those NY streets in the nights. Barrack Obama will be an example of Global Tolerance and Peace. Vote for BO! Zak NY, United States
Oct 22, 2008 12:00 AM 8	'First to loose confidence was superrich bankers'. Bankers did not loose confidence, may be the banks did.Bankers scooted with the loot well in time,leaving governments to hold the baby. Bankers, now taking a break in their penthouses, will be back in hordes as soon as governments do the repair job with public fund. One does not call a Nobel Lauriet knaive or over the hill , but is it not knaive to expect that every thing will be hunky dory with Obama in the saddle.Afterall it was Obama's party which wanted to give Bush carte blanche with $700 billion worth of taxpayers money to just re-fund the banks with not so much as a 'let me know what you did with the money'.Pepublicans put an end to that & laid down some accountability norms( no thanks to Bush). Much reviled Gordon Brown did a wonderful job to meet crisis head on & led E.U in restoring a semblance of order in this mayhem.But then Brown is not good TV footage. We in India are in for trouble as powers that be are looking at one side of the problem as is their norm. Consequences of ad hoc relaxing of CRR ,Repo rate,interest rate, bail out of inefficient corporates, will no doubt bring relief to corporate fat cats. It is the common man who will bear the burnt of consquent inflation & joblessness.Inflation does not hurt the rich nor do they need a job. MANISH BANERJEE KOLKATA, India
Oct 22, 2008 12:00 AM 9	If this is supposed to be a spoof on Amratya Sen, it fails. The professor was talking to a television audience, not to an economics seminar. He gave some simple examples to make a point about the psychology of the markets. His remarks do not lend themselves to satirization. Anwar Patel Dallas Tx, United States
Oct 22, 2008 12:00 AM 10	Puri Pa ji Amartya Sen could well be right !!! The current crisis of confidence in the financial world at the momemht looks like a flying kite in the sky ... when it dives it is difficult to control, but when it reverses it flies even higher tha its prvious highs ... Obama could prove to be just that catalytic reversal ... Vijay Agarwal Northampton, United Kingdom
Oct 22, 2008 12:00 AM 11	What if he was talking to a TV audiance . Even a man who cannot count his coins will not make such absurd simplication. Sen has recently written a few newspapers articles here which were downright oversimplication of complex issues. MANISH BANERJEE KOLKATA, India
Oct 22, 2008 12:00 AM 12	corrected: Puri Pa ji Amartya Sen could well be right !!! The current crisis of confidence in the financial world at the moment looks like a flying kite in the sky ... when it dives it is difficult to control, but when it reverses it flies even higher tha its previous highs ... Obama could prove to be just that catalytic reversal ... Vijay Agarwal Northampton, United Kingdom
Oct 22, 2008 12:00 AM 13	Mr. Puri Maharaj- The entire economic hullabaloo is because of few CEOs who freaked out the public money in Islands and Bars flirting with best bitches/skins in the world. The CEOs of those bankrupt businesses in USA had a ball of public money. For no reasons and rhymes were they paid in Billions with stocks and shares. It's not F! consumer confidence but ignorance about these craps normally happen at the top of the coroporates across the world. When IMF and The World Bank are of complete corruption, never-care nepotism, and feminine favoritism, where else can we expect corporate transparency???? The greed of making 'quick bucks' has pushed the world economy to recession. When hunger stops, peace begins..... Zak NY, United States
Oct 23, 2008 12:00 AM 14	If Amartya Sen had actually said the things mentioned in the article, he is a bigger dunce than I thought. Ganesan Nj, USA
Oct 23, 2008 12:00 AM 15	Stopperbhai, >> The most confused lot are the immigrant Muslims living in America particularly in this election year. Where do you find such nonsense? It must be a product of your closed mind! Anwar Patel Dallas Tx, United States
Oct 23, 2008 12:00 AM 16	What a Load of Crap! Obama and McCain are two sides of the same coin. Obama is "more of the same" with a different spin. Both sides have people that were very involved in the Genesis of this very crisis. Believing that Obama is a "miracle" or "Second coming of Christ" would lead to grave disapointments. "Change" as represented by Obama would be only in sense that there would be a change in scenery and only in the symantics in the policy matters. Only thing that would change is that Americans might get a better Health services system if he could only get away with it. Subroto Chatterjee1 Kolkatta, India
Oct 24, 2008 12:00 AM 17	Amartya Sen is apparently angling for some kind of prestgious government job,if Obama wins.All these professors at major American universities have been salivating similarly for an Obama win.They are dreaming about the return to the days of Kennedy when professors ruled the roost and made an unholy mess of things. Ramgopal Yanamadala Kanchikacharla, India
Oct 24, 2008 12:00 AM 18	Obama will win and yes Obama will bring back the surplus of Bill Clinton. He is also good for the American society because he is the uniter which is the future America. In 50 years, whites will be a minority in America. The country is slowly turning brown. Change in the form of colored people in high positions started with Colin Powell and Condi Rice (I'll give one to Bush for that). Obama is the logical next step. Don't be surprised if Bobby Jindal becomes a President someday. There will be challenges but Obama will definitely make a better president than McCain the "sidekick" (he voted 90% of the time supporting Bush). Maverick, my a$$. Raj Chicago, United States
Oct 25, 2008 12:00 AM 19	Sen and others of his elk are one who read popular sentiment and then te play it to perfection and end up being in the limelight. Well, Obama is no different - he is articulate, younger than McCain and will say everything/anything that will get him the presidential seat. Ironically, he should be winning the election without any effort since no one wanted to vote for Republicans for third time in a row but he has managed to make it competitive by his hedging. He will still win but it'll probably be the fakest win after GWB's Florida chad win. Either way , US and World are doomed but thanks to Puri we do have an insight into the great brain of Sen. escoss delhi, India
Oct 26, 2008 12:00 AM 20	Is Obama gifted with some kind of magical power to make the recession go away. Or is the recession some kind of monster to be drivery away. It is wishful thinking that any particular presidential candidate can solve this problem. The mess is real and will definitely take more than a president elect to fix. It would be simplistic, nay naive to choose a candidate based on some freakish assumption. All that talk sounds good, but isn't going to necessarily work wonders. BLACK DOG Hoboken, United States
Oct 26, 2008 12:00 AM 21	"Is Obama gifted with some kind of magical power to make the recession go away." Yes. He is the Messiah. He will say "Let there be no recession" and there will be no recession. The only thing the Messiah cannot do is to make Joe Biden NOT goof up. Ganesan Nj, USA
Oct 28, 2008 12:00 AM 22	The Banks failed because there was no regulation. De-regulation philosophy of Republicans made thieves out of greedy bankers. A civil society needs good governance. Good governance doesn't necessarily mean communism. It's the middle path. Obama will bring in good governance. He has more to gain by being a good President. The Republican failure gave him the opportunity. Raj Chicago, United States

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