Tops Priority for Obama

A key clarity in defining strategy is that you need to focus. Strategy is as much about what you DON"T do, as about what you do.

Somebody needs to tell that to Obama:

President Obama hard at work on his real top prioroty. 

Kudos to CBS News, of all places. They noticed that President Obama has a tendency to say everything is a top priority. And we meaneverything.

Perhaps that’s why he’s flailing and failing. No focus.

ECONOMIC RECOVERY: “Our top priority is to recover and rebuild from a recession that has touched the lives of nearly every American.” (6-15-10) Address to the Nation

JOB CREATION: “Creating jobs in the United States and ensuring a return to sustainable economic growth is the top priority for my Administration.” (3-11-10)

FREE TRADE AGREEMENTS: “…that’s something that’s going to be a top priority.” (4/27/10)

ENERGY SECURITY: “And that’s why my energy security plan has been one of the top priorities of my Administration since the day I took office.” (4/28/10)

EDUCATION REFORM: “To train our workers for the jobs of tomorrow, we’ve made education reform a top priority in this Administration.” (2/24/10)

STUDENT LOAN REFORM: “This is something that I’ve made a top priority.” (2/1/10)

EXPORTS BY SMALL BUSINESSES: “This is going to be a top priority.” (12/3/09)

HEALTH ASSISTANCE TO 9/11 FIRST RESPONDERS: “I’m not just talking the talk, we’ve been budgeting this as a top priority for this Administration.” (2/3/10)

END HOMELESSNESS AMONG VETERANS: “I’ve also directed (Veterans Affairs) Secretary Shinseki to focus on a top priority: reducing homeless among veterans.” (8/17/09)

HURRICANE PREPAREDNESS: “Our top priority is ensuring the public safety. That means appropriate sheltering in place or if necessary, getting as many people as possible out of harm’s way prior to landfall.” (5/29/09)

H1N1 FLU VACCINATIONS: “And throughout this process, my top priority has been the health and the safety of the American people.” (5/1/09)

SUPPORT FOR MILITARY FAMILIES: “These military families are heroes too. And they are a top priority of Michelle and me. And they will always have our support.” (5/30/09)

STRENTHENING TIES WITH CANADA AND MEXICO: “We’re going to make this a top priority…” (10/16/09)

CONSUMER PROTECTION: “During these challenging times, the needs of American consumers are a top priority of my Administration.” (2/11/09)

ENVIRONMENTAL PROTECTION: “So this is going to be a top priority generally improving our environmental quality.” (11/5/09)

Fact is, President Obama, if everything is a top priority, nothing is a top priority.

Perhaps you should follow one of the rare pieces of advice given by the IHTM Editor’s illustrious farmer father — “Pick one thing and do it well.”

One thing other than socializing the American economy, that is.

Source: CBS News

     

Inflation easing?

Our economics leaders keep saying inflation will fade after the monsoons. As if our price levels depend on agriculture! Only 15% of our current index is accounted for by food articles, and this will probably get revised downwards in August. Another 11.5% is accounted for food products (processed foods) but agri materials don't account for the majority of input costs here - thinking packing materials, fuel and electricity, freight, and distribution margins. Manufacturing margins have got squeezed, and firms are llooking to up prices wherever they can, so we could see these prices go up.

As to prices elsewhere in the manufacturing sector, overall numbers for Indian companies show the same tendency to margins being squeezed, so there is an upward bias in prices.

One interesting little sidelight I found when digging into data - official data  for vanaspati prices, which are the single largest sub-component of edible oils, show the level to have been stagnant for much of this year. This doesn't figure - palm oil is the single largest ingredient, and prices are up from Rs. 363 per 10 kg in April to Rs. 422 yesterday.

Aam Aadmi

Proud nations take pride in their citizens. In most international airports, deplaning nationals are directed to the first bank of immigration counters.

At Delhi's new Terminal 3, first priority goes to those passengers, presumably aged or physically challenged, requiring 'Special Handling'. Next up, First and Business Class Passengers -  fair enough, top dollar should get its recompense. Then, Foreign Nationals, followed by PIOs/OCIs (Persons of Indian Origin/Overseas Citizens of India).

 The 'aam aadmi', or Mango Man, comes last.

English and the MNCs

On Friday, I was talking with a group of young people about their job aspirations. The topic of English came up - how it becomes a differentiator in interviews. The personal interview was fine, one said, but the telephone round - very difficult. A couple of minutes later, he said - These MNCs, they should not have been allowed to come in.

"Ignore them, then" I said, "apply to the Indian companies".

"But they don't give a good package."

RBI Gov seeks supremacy

D Subbarao's speech in Hyderabad yesterday needs to be viewed against the proposal to set up the Financial Stability and Development Council (FSDC). Particularly since he didn't refer to the proposed regulator even once during his speech. What he did say, though, is that Central Banks are best positioned to ensure financial stability, and could fulfil their functions more effectively if they become the systemic regulator.

Talking about the feasibility of inflation targeting, Gov. Subbarao also referred to two impediments imposed by the government: administered interest rates, and large government borrowings.

Interestingly, just a few hours later, the Finance Minister found it necessary to praise the Governor in Parliament, "The Reserve Bank is managing in such a way that one does not elbow out the other (government borrowings and company investments)*. And that is a very skilful exercise I must appreciate the role that the RBI Governor has played in the last year - there was no mismatch in the market and there was no crowding out in the market."

Clearly the Governor is feeling miffed, the FM needs him; hence this public stroking.

However, inflation, which is the real issue, won't disappear with the FM's sweet words

Kawaria syndrome

The water-carriers, aka Kawarias, are becoming a menace. For the last 5 days, traffic along the 'Highway' from Delhi to Hardwar has been all but blocked.

This has meant, for example that the  many factories in Ghaziabad - a major industrial suburb of Delhi - have had to shut down depsatches; storing 5 days worth of inventory in the factory is not very conducive to managing your finances, leave alone your retail sales.

Now the blighters are chugging along the section of the Outer Ring Road, outside my home, with Bollywood 'religious' song blaring from speakers.

The lumpenisation of religion would not have gotten so far without the connivance of the politcal establishment - the freedom to pursue your beliefs must not be at the expense of the freedom of movement of those who pay taxes to use roads, drive cars, live in homes, or run factories along arterial roads.

Social Security Insecure

This year, US Social Security will pay out more than it takes in by way of taxes.
"The future's uncertain, and the End is always near" Doors