‘Before you study the economics, study the economists!’
e-Con e-News 13-19 November 2022
December 5 is D-Day as deigns the USA to dictate destiny, to stop time. December 5 is the deadline for new US & EU-led G7 sanctions to further asphyxiate the flow of finance, shipping, fuel, fertilizer & food to the world: All a ruse, professing to restrain Russia, but more to forestall the unfolding of a new world.
Through their monopoly control over fuel shipping, the US will effectively blockade India and other countries from accessing affordable energy from Russia. This will lead to further suffering and chaos, even as massive outflows of capital keep hemorrhaging to the US from Sri Lanka, Asia, Africa and most of the Americas.
• Sri Lanka’s anglomanic capitalists insist only the IMF can save us, and we must submit to Washington’s proposed budget. Or else: Indeed, this may be the first instance of an open threat of violence being held over the heads of MPs to vote for the IMF’s 17th Plan. MPs are cowering under the menace of a repeat of those well-synchronized May 9 attacks by the yet-unexposed ‘helmet brigade.’ A brigade linked to long-standing drug networks wrought by the US heroin trade in Asia, which operates a parallel government in Sri Lanka. The IMF will however continue to stall until Sri Lanka offers military bases to the US, and hands over strategic lands and resources.
• US Treasury Secretary Janet Yellen’s recent threats to India about December 5 (see ee Quotes), offer a sobering riposte to Indian diplomat Shashi Tharoor’s crowing, proudly echoed in Sunday Times that ‘The Diaspora Has Arrived.’ Tharoor is adulating English PM Rishi Sunak’s temporary and rather dubiously manipulated appointment to the so-called ‘mother(-fill-in-the-blanks) of all parliaments.’
Sunak, rather than being an anomaly, belongs to those regional merchant fractions, which have already grown fat under English colonial rule. These market minorities still dominate the economies of Sri Lanka and India, and Africa… on behalf of their white sponsors. The US is counting on the continued genuflection by such Sunaks and Jaishankars, to empire (ee Focus, Washington Attempts to Bully India).
• US & Russian intelligence chiefs met in Turkiye this week. The last time they met was in January in Geneva, just before the US escalated their European war in February. This week, there followed an apparent squashing of a crude attempt by the US-sponsored Kiev leadership to ignite nuclear war. Yet, with their December 5 deadline, US-led NATO stands ready to escalate its wars around the world.
The US Biden administration has also set up another military operation in Germany, with a 3-Star General and a staff of 300 to escalate its proxy war against Russia. US already has almost 50,000 troops in Germany (with commensurate numbers in Japan, slave Korea, etc.)
Last week’s November 11, days after their annual Halloween faux-horror, was again commemorated as ‘Remembrance Day’. How they remember their mass slaughters who can tell? Given their continued arming of wars on Asia & Africa, November 11 could be renamed Nostalgia Day. Or Amnesia Day. Or just, old-fashioned Imperialist Day. After all, the EU says they will have to invade ‘the jungle’ that keeps invading their ‘garden’. We however remember when Sri Lanka replaced the poppy with our Suriya-mal! (Random Notes)
• Sri Lanka editors & other ‘influencers’ compete for invitations to US & EU embassies’ monthly gatherings where they are handed out the US State Department’s latest ‘talking points.’ The media wail for MPs to divulge their assets. Editors should also divulge their own sleaze. In South Africa, such US embassy monthly meeting for editors are tagged – ‘On the rocks & off the record‘. The US embassy provides: ‘first-class transport and accommodation as well as the excellent food and alcohol’. All the editors who attend are assured it would be good for their careers! (see, ee Quotes)
• Sri Lanka’s President Ranil Wickremesinghe says the USA owns the sea & private beach outside their embassy on Galle Road. Wickremesinghe was speaking at the 70th anniversary of US-SL Fulbright Commission Program, which has produced a steady stream of supine scholarship (ee Sovereignty, US Owns SL Beach).
Sea access was obtained to perhaps enable a quick exit (or entry) in case of an attack on the US embassy (anticipating karma for the US-funded attack on the former President’s office?).
President Wickremesinghe’s beachbum ramblings emerge just as the government says it will lease national lands to multinational agribusiness & their local billionaire agents. English Reuters also recalled this week, with scant elaboration, ‘Sri Lanka in talks for US$1Billion “debt-for-nature” swap deal’ (see also: ee 25 June 2022, Selling off Grandma’s Crown Jewels)
The President elaborated further: ‘Sri Lanka’s land acquisition law must be changed to modernise agriculture’. Buddhi Marambe, Peradeniya University Agriculture Professor & director of chemical-importer English multinational CIC-ICI in SL, who led the ‘scholarly’ attack against former President Gotabhaya Rajapakse’s organic fertilizer policy, laments: Sri Lanka is unable to invest in ‘high-product-yield machinery for agriculture’, due to the high cost of machinery & capital and Sri Lanka naming itself as a middle-income country.’
Marambe should first tell us where the CIC-ICI and other English multinationals like Unilever, he serves, have invested their profits from Sri Lanka over the last 100 years and more.
A former director of the Hector Kobbekaduwa Agrarian Research & Training Institute (HARTI) says a detailed program for turning to organic was shared punctually with the bureaucrats at the Ministry of Agriculture, but there is/was: ‘A strange reluctance to incorporate such knowledge into the policy-making framework through a formal mechanism’.
Meanwhile, one of the US government’s topmost NGO agents in Sri Lanka, Centre for Policy Alternatives’ Paikiasothy Saravanamuttu, blamed China for ‘delaying’ the IMF’s 17th medicinal infusions of dollars. Saravanamuttu, like much of the NGO leadership in Colombo, belongs to those Colombo families pampered by English compradors, which history is in the process of discarding. Meanwhile, China points out that any deal with Sri Lanka must sync and similarly alleviate the ‘debt traps’ imposed by the IMF on the rest of the world (ee Focus).
This ee also focuses on the role of ‘Dishonest Economics’, which Indian economist Prabhat Patnaik calls the ‘Neoliberal Era’s Hallmark’: ‘Economics is a subject where the ruling classes are forever trying to promote ideologically motivated explanations in lieu of scientific ones’ (ee Focus).
• The new Budget plans to turn over national lands to multinational agribusiness in Sri Lanka. This primarily means handing them over to Anglo behemoth Unilever. Unilever operates through 100s of front companies here, interlocked with such banks as Standard Chartered, and conglomerates as Keells, Cargills, Sunshine, etc (just look at what their supermarkets & retail outlets sell). This corporate octopus also links with CTC (Ceylon Tobacco Co.), and erstwhile rivals as well, eg US Proctor & Gamble and Nestlé, not to mention chemical suppliers like Baurs, Maharaja etc, plus the various Chambers of Commerce.
The Budget’s plan to discard the land ceiling enables larger landholdings, bolstering a class of large landlords to evict cultivators off their lands. Unilever is also thrilled with the Budget’s promise to unilaterally impose ‘restructuring’ on national industries (aka SoEs), and further undermine labor laws.
While Unilever boasts showcase offices and factories, it also operates through 100s of third-party contractors, who pay far less in wages, while flouting health & safety and other already ineffective labor laws. The budget is music to their ears. People will however face a different music.
Unilever, a major importer & distributor of FMCG (fast-moving consumer goods) monopolizes the home market, and also monopolizes the media, social & anti-social, through a network of PR (public-relations or ad) firms. Therefore the IMF can easily strategize its media pronouncements to conceal policies and consequences, with fake criticisms by the AOG Twins – Eran & Harsha.
The President says the Budget goes beyond the demands of the IMF. Critics say, it is the IMF that has laid down this Budget. This means, this IMF Budget goes beyond the IMF’s wildest dreams! Another exotic paradox in paradise, indeed.
At the same time, in an attempt to claim the budget is homegrown, the President’s relatives at the Sunday Times tell us, ‘A group of top government officials & senior economic consultants is working on developing the roadmap… enhancing oversights of State-owned Enterprises, reducing the anti-export bias of national tariff policy eliminating barriers to foreign investment, making energy & transport sector less dependent on imported fuels and more climate-friendly, and strengthening social protection institutions & delivery systems (ee Economists, SL’s roadmap for economic stabilization unveils soon). Amen!
Perhaps this refers to regional merchant & Borah scion Murtaza Jafferjee, the US-funded thinktank Advocata’s chair, who seems to have disappeared from public view. In May, Jafferjee was appointed by then-PM-&-Minister of Finance Ranil Wickremasinghe to form an ‘Economic Stabilization Dialogue’ between the Ministry of Finance & ‘independent’ economists.
Meanwhile, Murtaza’s fellow US-Advocata shill & LIRNEasia Chair Rohan Samarajiva, who profited off the privatization of Sri Lanka Telecom, has joined together with some of the corporate-funded aragalistas to form a new political party (see ee Focus, Jayasumana)
This ‘new’ political groupings, playing on hackneyed binaries of youth versus gerontocrats, civil society vs. state, etc., will soon join up with the old UNP/SJB. Their policies will be the same old, same old, import-export colonial plantation nothing-burger!
And if you wish to recall the US playbook for destabilization, see how their attempt to ignite an ‘aragalaya’ in Cuba echoes the mix of post-Covid, mid-world-war troubles they are roiling in Sri Lanka (ee Quotes). As in Sri Lanka, NATO is also harnessing their fake ‘Leftists’, ‘Marxists’ etc, in their war against Cuba. (ee Random Notes)
Contents:
A1. Reader Comments –
• ee Hits • US Owns Colombo Beach • Ranil Recites IMF Budget • Not Yet Uhuru in Africa • ee ‘s Informed IMF Notes • Artists Mask Empire
A2. Quotes of the Week
• US Embassy’s Private Beach • Industry & Health • England MPs Want Human Rites in SL • Yellen Hits Jaishankar • US Fears Russia/Iran Unity • Turkiye on US Terror Attack • US Envoy’s Parties for Editors • UN Fakes Rape Allegations • England Media Wars • US Recipe for Cuba Aragalaya
A3. Random Notes –
• Europe’s Garden to Invade World’s Jungle • The President’s Google English • Plantation Board Game for Leftists, Marxists & Lunatics • NATO’s Socialists Attack Cuba
B. ee Focus
B1. Mahaweli Lands under Divisional Secretaries? a Sinister Move – Channa Jayasumana
B2. Whither Research (Institutes)? a Strange Reluctance – Malinda Seneviratne
B3. Chinese Central Bank Official on Debt Crisis – Jin Zhongxia
B4. Washington Attempts to Bully India into Cutting Ties with Russia – Conor Gallagher
B5. Dishonest Economics is Neoliberal Era’s Hallmark – Prabhat Patnaik
C. News Index
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A1. Reader Comments
ee thanks Readers who send articles of interest. Please excerpt or summarize what is important about any news sent, or your comments, and place any e-link at the end. Email: econenews@gmail.com
• ‘In his recent speech at the inauguration of the new US embassy extension, President Ranil said the US owns the sea & private beach outside the embassy on Galle Road: How did this happen? What other beaches do they own in SL? Did you know this and should it not be brought to the attention of the citizens of Sri Lanka? Is this not a violation of the law that beaches are public in this country? I was astonished to read this’ (see ee Quotes)
• ‘Ranil reciting the IMF-written 2023 budget is a joke. Our recovery is in strengthening our agriculture base & rapid industrialization. This budget is a IMF Trojan horse designed to give Colombo neoliberal zombies an endless orgasm at the expense of 21 million people.’
• ‘What is the guarantee ee has that your targets are aware of what ee writes about them?’
• Re: African & Chinese, ‘None but ourselves can free our minds. The die is cast. The deed is done. The damage is profound… Aluta continua. Cheers.’
• ‘Very informative notes on IMF default & planning. Semiconductor sanctions will make China go for them…’
• ‘Artists are now gladly helping the Tates & MOMAs etc do their job of masking modern imperialism 75 years after [artists like Guyanese) Denis Williams refused their recognition of his attainment of some dubious standard they saw as exoticism.’
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A2. Quotes of the Week_
• ‘38 years ago, I stood in another building next to this witnessing President Jayawardene open the new US Chancellor building. The earlier building was housed in the residence, which one time belonged to my great-grandmother, Helena Dep Wijewardhena, before the Americans purchased the sea. I think that’s the only private beach in Sri Lanka & the only Embassy which has a private beach, which I am sure will be really the cause of joy for your marine scene!’ – ee Sovereignty, US owns SL Beach
• ‘Industrial capitalism in the US, Germany, England, and every country where it took off, was to promote a public investment in basic infrastructure monopolies in transportation, communication, education, healthcare.’ – ee Economists, The Rentier Economy is a Free Lunch
• ‘England’s House of Commons: ‘concerned by reports of increased militarisation & human rights violations in Sri Lanka, particularly during the country’s current economic crisis; calls upon the Government, as a key stakeholder of the IMF, to propose conditionalities on any IMF financial assistance… during the current economic crisis, including that Sri Lanka carries out a Strategic Defence & Security Review to reduce its military spending and remove the military from engaging in commercial activities, meets the criteria required for Generalised Scheme of Preferences Plus, and re-engages with the UN Human Rights Council process and fully implements resolution 30/1; and calls upon the Government to implement targeted sanctions against individuals who are credibly accused of committing war crimes during the SL Civil War.’ – ee Sovereignty, Foreign Ministry fails to help Sri Lanka improve its image
• ‘Janet Yellen’s parting kick showed sarcasm at its purest after Musk’s Moscow trip. Makes India’s External Affairs Minister (EAM) look like Sancho Panza tilting at imaginary windmill. EAM insists he has spine, but Yellen thinks it’s fake, rubbery. A reverse sweep all the way to the boundary?’ – ee Sovereignty
• ‘What alarms Washington most is that Tehran is adopting a joint strategy with Moscow to go on the offensive and defeat the weaponization of sanctions by the collective West. Despite decades of sanctions, Iran has built up a world-class defence industry on its own steam that will put countries like India or Israel to shame.’ – ee Sovereignty, Russia strategizes with Iran
• ‘We know where the attack was coordinated. We received the message given to us and we know what the message was. We do not accept the condolences of the US embassy. We are not treacherous to anyone, but we no longer have tolerance for these treacherous acts. Istiklal Street is our child. If we had not caught the attacker, he would have fled to Greece today.’ – Turkiye’s Interior Minister Suleyman Soylu (ee Sovereignty)
• ‘In almost 4 years of operation, one state & one state only sought to connect with New Frame. A few months after we launched, Donald Trump’s ambassador (Lana Marks) arrived at our offices in a surprise unscheduled visit, accompanied by her 3 consul generals. I did not invite them in. But while standing at the entrance, she asked about the nature of our interest in international affairs and invited me to a monthly meeting for editors in Cape Town called ‘On the rocks & off the record’. She stressed the first-class transport & accommodation as well as the excellent food & alcohol, and told me ‘all the editors come’ and how good it would be for my career. I declined the offer.’ ee Media, Drunk on Power: the Neoliberal capture of the South African Mediascape by the US State Department
• ‘During the call, Vovan & Lexus pressed [Mauritian-born lawyer, UN Special Representative Pramila] Patten on whether she had any proof of her incendiary allegation. Clearly flustered, Patten responded: ‘No, no, no. And I don’t – like I said, it’s not my role to go and investigate. I sit in New York, in an office in NY, and I have an advocacy mandate. My role is not to investigate’.’ – UN envoy admits fabricating claim of Viagra-fueled rape as ‘Russian military strategy’, see ee Sovereignty
• ‘England’s intelligence centers are sending contractors to wage information warfare through a dual strategy of censorship & propaganda, the latter of which takes a form that depends on terror & war crimes. These contractors, informed by a psychological-operations doctrine that takes direct example from the propaganda methods of ISIS, are working to shoot snuff films wherein Ukrainian forces torture Russian prisoners of war. Their aim is to identify the demographics & sentiments of the Russian populations they target, so that they can demoralize these targets on a mass scale. Their method is to expose these Russians to the footage of the atrocities.’ – ee Sovereignty, Endless war, endless crisis, fascist hell
• ‘Tired of not having electricity? Stubborn because they didn’t let you sleep for 3 days? Tired of putting up with the impudence of a government that doesn’t care about you? It is time to go out & demand. Do not criticize from home, let’s make ourselves heard. If we’re not going to do it, we’d better shut our mouths and not talk shit from home, that doesn’t solve anything. Are we more afraid to go out than to put up with all this cheek? How is it possible? We demand [Presidents Miguel Díaz-Canel & Raúl Castro] also have blackouts. We demand, since we have no food, at least they let us sleep. Hit the streets. Down with the opportunistic communist government now. This Sunday at 11am, Parque de la Iglesia. See you there. If you don’t go, stop complaining so much.’ – ee Sovereignty, ‘Private’ Facebook Group in Cuba
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A3. Random Notes (‘Seeing Number in Chaos’) _
Europe is a garden. The rest of the world is a jungle…
And the jungle would invade the garden. Gardeners should take care of it.
But they will not protect the garden by building walls around it…
because the jungle has a strong growth capacity…
the walls will never be high enough to protect the garden…
The gardeners have to go to the jungle…
otherwise, the rest of the world will invade us…
– 13 October, Josep Borrell, EU Foreign Policy Chief,
speaking at the launch of the European Diplomatic Academy
ee is quoting again, this time in full, the honorable Borrel, High Representative of the Union for Foreign Affairs & Security Policy, the chief co-ordinator and representative of the Common Foreign & Security Policy (CFSP) within the European Union (EU).
October 29 ee forgot to add the latter part of the ‘gardeners have to go to the jungle…’ This educator of diplomats, this Spanish Señor is calling for invading, or rather the continuance of Europe’s unending invasions of our world. Imperialism wreathed in horticultural metaphor.
Not a word of dissent from our EU envoys in Sri Lanka who are constantly demanding we adhere to their high political and economic ‘standards’.
White war criminals spouting all the ideals of ‘rights’ are garlanded and feted in Colombo, like USAID’s Samantha Power, who pushed the invasion of Libya turning it into a slave market, like Victoria Nuland who oversaw the massacre and coup d’etat in the Ukraine in 2014…
• The Presidential Secretariat of Sri Lanka issued a garbled incomprehensible version of Wickremesinghe’s speech celebrating the US-SL Fulbright Commission Program [sic!]:
‘It’s not only the field of education or religion; they were in trade actually our graphite trade phosphate, because Americans were some of the main purchases of graphite at that time. These are all parts which written in history. Our relationship was not only in trade, not merely education, not merely religion it was also military. In 1942, General Joseph Silvon, Wnnieger Joe was the deputy commander of the Southeast Asia command which was housed here in Kandy under Admiral Lord B of Batton at that time, He control the Chinese troops in India, Burma, and China. So that’s how our military connection began’ (see ee Sovereignty, US owns SL Beach).
• Leftists, Marxists & Lunatics – Anglo Unilever and allied ‘planters’ have created a slave plantation ‘board game called Ceylon’. There is no reference to the robbery of the highlands, the mass murder of the original Sinhala residents, the imposition of an alien unfree labor force (which now constitutes a time bomb), the prevention of investing profits in advancing technology. Instead, what is promoted are the old fantasies about the wonders of the import-export colonial slave plantation game that has impoverished the country, treating all workers as ‘coolies’. (However, the strictures imposed by the Indo-Lanka Accord perhaps require elaboration):
‘Players take on the role of pioneers/entrepreneurs to develop your own plantations much like you develop your holdings in Monopoly:
1. Original Game – Ceylon: ‘During the second half of the 19th century in what was then Ceylon, today known as the nation of Sri Lanka, a deadly fungus killed off all the coffee plantations on the island thus causing a serious economic crisis. The Scot James Taylor, and later many other entrepreneurs, set about substituting tea plantations for coffee plantations ,hence creating what many connoisseurs today consider to be the best tea in the world.
In Ceylon, players take on the role of the pioneers who developed the Ceylon tea industry. As such, they build plantations in different districts and at different altitudes. They produce tea and try to sell it to the most important export companies. To favor this task, they must win the favor of the councilors of each district and develop the necessary technology that allows them to get ahead of their competitors.
At the end of the game, players score points for having plantations in each district, for meeting demands that have been set, for the level of technological development reached, and for the amount of money collected. In the end, the player who has the most points wins.’
2. Today’s Game – The Democratic Socialist Republic of Sri Lanka: ‘During the second half of the 20th century and early years of the 21st in what was once the paradise isle of Ceylon and the resplendent granary of the East, twisted and turned into the Democratic Socialist Republic of Sri Lanka by politicians, a coterie – of Leftists, Marxists & Lunatics – killed off the tea, rubber and coconut estates on the island. Through various acts such as seizing private estates in violation of the right to property, instituting price controls in violation of common sense and cost of production, and betraying farmers and entrepreneurs through the political propping up of a local cartel of mediocre middlemen, the island underwent and undergoes serious periodic economic crises. Now the island’s plantations are all but extinct, despite connoisseurs considering the island’s tea and cinnamon to be the best in the world.
In the board game Democratic Socialist Republic of Sri Lanka, players take on the thankless task of young entrepreneurs trying to develop the island (despite their ancestors telling them to run whilst they can). As such, they try to build large-scale plantations with economies of scale, refineries, high tech factories, & advanced infrastructure to help them in different districts across the island. They try to produce tea and try to sell it to the most important export companies instead of the middlemen, despite the fact they will receive no support whatsoever from the government who will actively try and stifle their endeavors.
Players will also have to hope (& pray) during the game that any imports required for production make it into the country before it runs out of foreign currency. The foreign-currency reserves of the country are managed by politicians and not within the players’ control. Players who earn foreign currency will only be allowed to keep extremely small amounts with the vast majority of their own earnings being converted to local currency at a rate that bears no resemblance whatsoever to a fair market price. They will have to contend with demands for bribes from the politicians & bureaucrats in each district with corruption having infiltrated every level of the general infrastructure. As they compete for winning tenders for projects, expending resources to do so, they will often find that once a winner amongst them has been chosen, their contract will be unilaterally cancelled & given to India. Those who pursue the business of refining or the path of industry will also find their path blocked midway through the game by an illegal Indo Lanka Accord imposed upon them without the consent of any participating player. Players must choose whether to pursue government incentives that may be changed to sky high taxes by the next election. Investments in fertiliser may be made to increase yields, though players risk an overnight ban on their use in which case the entire plantation will have to be started from scratch.
Irrespective of the players’ cost of production, the government may impose price controls that are devoid of common sense at any time. For other products, if the player cannot build their own factory or link in a supply chain, they will be forced to accept whatever price the mediocre middlemen who lobby politicians have fixed. (Players who build their own factories may find their factories outlawed overnight as Leftists declare everything should belong to the state). Naturally, players will be expected to pay bribes at every stage of the game merely to get basic things done. Taxes will increase exponentially over time to pay for politicians’ perks at the players’ expense. Each successive government will also print money reducing the purchasing power of the currency over the entire game meaning players will need significantly more currency each turn just to achieve the same task. Players may find they must go to court to protect their own plantations against illegal squatters in which case they will have to pay legal fees to lawyers. Court cases will continue for multiple generations without any resolution or end in sight. At the end of the game, players score points for having maintained their sanity and the player who loses the least money wins (since it is virtually impossible to make a profit).’
• NATO’s Socialists Attack Cuba – ‘Twice in 2021, first on July 11 then on November 15, the US government and politicians joined with rightwing Cuban exiles (mainly in Florida) to egg on protests inside Cuba. US-funded organizations began a social media campaign, a Bay of Tweets, designed to provoke uprisings among people who suffered from the social impact of the US-imposed blockade and the Covid pandemic.’ They were joined by 3rd-campists like Alex Callinicos, Lucia Pradella, prominent Euro Trotskyists, Left publishers like Sebastien Budgen (Verso Books), ‘anti-imperialist’ Tony Norfield & Susil Gupta (Anti-Imperialism), and #SOSCuba academics like Tithi Bhattacharya. The N15 (non-)protests displayed how vacuous their analysis, and in the case of Callinicos how duplicitous and false his ‘letter’ of 15 July. An imperial stenographer, reactionary and cancerous for any left/progressive freedom.’
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B. Special Focus_
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B1. Mahaweli Lands under Divisional Secretaries? A Sinister Move – Channa Jayasumana
Budget 2023 has sought to deprive the farming community of their land rights by placing the Mahaweli lands under the purview of Divisional & District Secretaries, SLPP dissident MP Prof Channa Jayasumana says.
‘This proposal will take away the farmers’ rights to land. Farmers of Mahaweli lands in 15 districts and their children will be affected by this move,’ Prof Jayasumana said, participating in the debate on Budget 2023.
He said Mahaweli Project encompassed 39% of the country’s landmass and 55% of the lands of the dry zone.
Proposal No. 13 says: ‘Although preliminary activities related to the disposal of government lands are carried out by District Secretaries/Government Agents through Divisional Secretaries/Additional GAs, at a later stage such duties were also allocated to Sri Lanka Mahaweli Authority and the Land Reform Commission which were established for special requirements. It is reported there are occurrences of discrimination and malpractice as preliminary activities related to disposal of lands are done in various ways by the respective entities. Therefore, as the aforementioned special requirements have already been met, a program will be prepared during the next year to enable preliminary activities in relation to the disposal of all government lands, including the disposal of lands under the above 2 institutions, only by the Divisional Secretaries.’
This will enable the government politicians and their cronies to grab the Mahaweli land, Prof Jayasumana said, a single call from a politician to the Divisional Secretary would help them grab land.
The proposal would be a threat to national security, Prof Jayasumana said.
‘Budget 2023 does not offer practical solutions. It is only a concept paper. Instead of an action plan, it offers a theoretical framework. There are some positive proposals, such as amalgamating several public sector institutions working in the same field on the same subjects, is a worthy proposal if implemented properly. It is also proposed to digitize such institutions’ work. That the government has to do with utmost care, because we have the experience of what happened when some public sector institutions digitalized their services during the past 20 years. That process has been given to only a few institutes, known for corruption and frauds. As a result of these digitalization processes some international criminals have obtained Lankan passports. When we go for digitalization, we must understand we have 5 cables via this country that receives internet data. These submarine cables come to the country via Colombo Fort, Mount Lavinia & Matara. These 5 cables are currently owned by Sri Lanka Telecom. It is the very same institute that is proposed to be restructured by this Budget. There is no need for restructuring the SLT. It has already been restructured. As a result of that restructuring, the Treasury owns only 49.2% share value, while a Malaysian company, Maxis, owns 44.5%, and 6% by the public. There is no need for restructuring – what is being planned to do is to sell its remaining shares.
SLT has recorded Rs2,042million profit in the first 9 months of this year. We know that when SLT is given away, the prices from Mobitel to Peo TV will be increased. In addition, the SLT has 3.5-acre land in Colombo Fort, 7-acre land at Welikada, 37-acre land in Padukka with satellite equipment too would be sold. If SLT is sold, we’ll lose our data security and that would affect the country’s cyber security. Selling the SLT off is a serious threat to the national security of the country,’ Prof Jayasumana said. – island.lk/govt-placing-mahaweli-lands-under-divisional-secretaries-slpp-rebels-see-sinister-move/
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B2. Whither Research (Institutes)? A Strange Reluctance – Malinda Seneviratne
There are 2 questions. First, does research really matter, or rather does research drive decisions when it comes to policy planning? Second, what is the role or research institutes or, put another way, do policymakers understand the worth of such bodies?
My friend Sugath Kulatunga raised an interesting point recently with regard to the fertilizer policy of President Gotabaya Rajapaksa: ‘One is baffled why a risk analysis of the overnight, islandwide implementation of the decision on organic cultivation was not done.’
The truth is that such an analysis was done by the Hector Kobbekaduwa Agrarian Research & Training Institute (HARTI). The entire research team, immediately following the announcement, assessed all relevant social, economic, political and environmental factors. A document was produced within a month, detailing the issues, obstacles and strategies. This was followed by an 18-month roadmap which essentially listed the non-negotiable measures that need to be taken to rationalize the implementation of the policy. A preliminary audit of biomass availability was also done in view of the proposed shift to organic fertilizer.
The documents were duly forwarded to the policymakers including the relevant ministers. In addition, on each and every occasion that a relevant minister requested information or sought an informed response to broad questions related to this issue, HARTI researchers responded promptly and comprehensively.
This is a problem that is not limited to a sudden policy decision which was to be immediately implemented. A perusal of all research reports, policy briefs and such produced by any of the many state-run research institutes would reveal at least 2 things: a) the enormous volume of knowledge-production, & b) a strange reluctance to incorporate such knowledge into the policy-making framework through a formal mechanism.
Of course it must be mentioned it is quite possible that policymakers do make use of such information and knowledge. For example, a review of the draft national agriculture policy put together by a team of experts in 2021 revealed that the findings of research conducted by HARTI over several decades have not gone unnoticed.
Consider the state universities, to add another dimension to this problem. There are thousands of dissertations and theses produced each year on a wide range of subjects. A significant portion of these have policy implications. However, there is no formal mechanism to ensure that the findings and recommendations reach the policy-making apparatus , that policymakers in turn are required to take into account the same. Instead, typically, policymakers depend on their own and often ill-informed & poorly analyzed understanding of the particular issue, confidantes/advisors whose principal qualification is personal acquaintance and who at best represent a limited & limiting version of things or the dictates of ‘experts’ from outfits such as the World Bank, IMF or USAID.
Clearly the government needs to do a re-think on research & research institutes. The current thinking articulated by certain policymakers that research is useless, needs to be called out for what it is: myopic, idiotic and indicative of a scandalous disregard for truth and its implications.
Given that policymakers seldom seek information and knowledge produced by research institutes, the question arises whether such institutes serve any purpose. Indeed ministerial pundits often talk about shutting down research institutes, thereby demonstrating ignorance, arrogance and absolute idiocy. What is required is in fact a strengthening of research institutes, coupled with a mechanism that compels policymakers to take serious note of research findings.
One of the biggest problems that plague research institutes that are part of the state apparatus is, of human resources. There was a time when research institutes attracted the most qualified graduates who preferred employment in these bodies over teaching posts in universities, partly due to better salaries and also because they accorded more attractive opportunities for academic advancement.
The situation is reversed now. The salary scales of universities are considerably higher. Researchers in such institutes are therefore forced to consider a shift back to universities following acquisition of postgraduate certification. As the Sri Lanka Council for Agriculture Research Policy knows, the entire sector is plagued by numbers that fall scandalously short of the cadre requirement with regard to research expertise. The blanket freeze on recruitment imposed on account of the economic crisis has made things worse.
Consequently, it is important to reconsider the entire structure of knowledge-production and its bearing upon policymaking. The knowledge producers and knowledge-producing institutions should be empowered. It is imperative, in this, to put research institutes on par with universities in terms of remuneration structures. In a country where ill-investment abounds, such a move would certainly be a much-needed corrective that makes for more wholesome and effective policy formulation.
Mechanisms must be set up so that policy recommendations obtained from findings are duly recognized and taken into account when decisions are made. This can be done. HARTI, for example, has signed MoUs with almost all state universities with regard to collaborative work. The potential to mobilize the best minds in the universities needs to be recognized.
Sri Lanka is not poor when it comes to science & scientists. The problem is one of creating conduits & forums so that policy is: a) not dependent on politically suspect ‘advice’ of external ‘experts’ with little or no knowledge of Sri Lankan realities & absolutely uninterested in furthering Sri Lankan interests, and b) not formulated on the whims and fancies of ill-informed politicians driven by self-interest and little else.
– dailymirror.lk/opinion/Wither-research-institutes/172-248734
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B3. Chinese Central Bank Official on Debt Crisis – Jin Zhongxia
Jin Zhongxia, the director general of People’s Bank of China’s department of international affairs, spoke at the China Finance 40 Forum in Beijing recently, on how the debt crisis in the Global South came into being:
‘Debtor country mismanagement: Certain debt-dependent countries mismanaged their borrowed funds and failed to use them productively to generate economic growth;
Over-abundant money supply at the global level: The low-interest environment in the post-Financial Crisis era enticed many developing countries to borrow aggressively and many international investors to enter the sovereign debt market. Yields of Eurobonds issued by African countries were as low as 4% at some point. Sub-Saharan Africa’s sovereign debt volume grew more than 5 times from 2009-20, and private players grew to be the major creditor of the developing world, from 43% in 2009 to 62% in 2020. Meanwhile, bilateral official lenders’ share shrank from 25% to 14% over the same period.
Covid, war & increasing debt vulnerability: Covid-induced economic losses and war-induced inflation are eating into developing countries’ current account balances. The US Federal Reserve’s continued rate hikes are leading to currency depreciations that further exacerbate an already stretched fiscal situation.
A ‘holistic & balanced approach’ is needed – Jin then offered a few recommendations on how to address the debt challenges.
He first pointed out that the G20’s Common Framework for Debt Treatments is an important coordination mechanism among bilateral lenders and China had been ‘actively participating in debt treatments for Chad, Zambia and Ethiopia.’
He underscored how important it is for debtor countries to shoulder their own responsibilities for ‘recklessly’ handling their own debts in order to avoid moral hazards. He also called on them to increase the transparency of their loans and the conditions of collaterals, which ‘affect the interest of all existing and potential creditors’. The IMF, he said, should play a professional, objective & fair role in its assessments and proposals.
He then suggested that Chinese creditor organizations should increase their coordination and strengthen their cooperation with the IMF and other official creditors. Specifically, Jin suggested, ‘perhaps’ China Development Bank and China Exim Bank should carry out reforms that better distinguish policy loans from commercial loans and increase the transparency of their lending businesses.
In this aspect, he made important elaborations: ‘Forgiving public-financed debt is no easy task in any country.’ China must coordinate all its involved creditor organizations (such as CDB, Exim Bank), which independently select most of their lending projects and follow a more-or-less commercial logic. ‘If now the government is to tell them what to do, it is a complicated process as the government did not participate in most of the project-level decisions in the first place.’ A lengthy process of assessments and decision-making is needed. He maintained that Chinese creditor organizations have relatively little experience of dealing with largescale debt restructures and need to learn by doing.
He told the audience that China had been working with Paris Club creditors on a country-by-country basis. The good thing about the G20 Common Framework is it involves both members and non-members of the Paris Club, traditional creditors and new creditors. The new platform facilitates mutual trust building and can lead to better collaboration in the future.
He also pointed out that debt negotiations should go beyond the Common Framework which involves only official creditors & not private ones. He specifically named Glencore, Chad’s largest private creditor that did not enter into debt negotiation with the government in a timely enough manner, resulting in a major delay in the IMF approval process. He made an explicit criticism of the World Bank’s approach of offering new low-interest loans to debt-distress countries as a way for them to tide over the crisis, based on the rationale that debt restructuring would hurt such countries’ credit rating. ‘But for debt distress countries, any new loans, no matter how discounted their interest rates are, will increase their debt burdens,’ he said, ‘unless these are grants.’ He urged multilateral banks to participate in debt-restructure discussions, rather than ‘using new loans to limit the options of other creditors.’ He praised the IMF’s Catastrophe Containment & Relief Trust (CCRT) and a general allocation of SDRs as a more sensible approach to the debt crisis.
Solutions – At the end of his address, he advocated for 2 long-term solutions to the debt crisis. First, the world should strive to end the pandemic and restore the mobility of people, goods and commodities so that countries like Sri Lanka may see their revenue streams recovered. Second, countries should refrain from protectionist measures that arbitrarily cut exchange among trading partners and disrupt supply chains. –pandapawdragonclaw.blog/2022/11/15/bri-notebook-chinese-central-bank-official-calls-for-balanced-approach-to-debt-crisis/
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B4. Washington Attempts to Bully India into Cutting Ties with Russia – Conor Gallagher
For months the US has repeatedly tried to coerce India into cutting ties with Russia, thereby abandoning its national interests. New Delhi, however, continues to spurn US attempts to subject its economy to Washington’s dictates.
The latest fuss concerns the G7 price cap on Russian oil and EU & England’s bans on shipping & related services for Russian crude. India continues to have no interest in joining the US-led initiative, as it gets a steep discount on oil from Russia and wants to maintain the relationship with a long-time strategic partner. Indian Foreign Affairs Minister Subrahmanyam Jaishankar was just in Moscow on November 8 to discuss continued sales of oil. From South China Morning Post:
India’s foreign minister hailed New Delhi’s ‘strong and steady’ relationship with Moscow on Tuesday, during his first visit there since Russia invaded Ukraine in February. Jaishankar also declared India’s intention to continue to buy Russian oil, again disregarding the US appeal to allies & partners to isolate Russia from the global markets.
The G7 plans are likely to send oil prices higher (despite US Treasury Secretary Janet Yellen claiming the opposite) and reduce tanker availability, both of which will threaten India’s energy security and hurt its economy as India is the 3rd-largest consumer and importer of oil worldwide.
Russia has said it will not sell to any countries that participate in the price-cap scheme, and Jaishankar has repeatedly stated India cannot afford to buy oil at high prices – at least not without undermining its economic growth, which is forecast to be 6.1% in 2023, the fastest-growing major economy in the world. According to Energy Intelligence:
Russia emerged as India’s top crude supplier in October, shipping over 900,000 barrels per day or roughly a fifth of India’s demand. The 2 countries’ biggest concern is ensuring that Russian oil continues to flow after the Dec 5 EU & UK bans and related G7 price cap.
But despite Jaishankar’s bullish stance in Moscow, India’s state refiners have not placed orders for crude lifting beyond Dec 5 due to uncertainties about whether shipping and insurance will be available, Energy Intelligence understands. And a recent attempt by an Indian buyer to use the price cap in negotiations with a Russian seller prompted the latter to abandon the deal, market sources said.
The ongoing lack of clarity on the G7 could be by design. Russian oil exports have already begun to dip, and Bruce Paulsen, a sanctions expert and partner at law firm Seward & Kissel, told US Shipper, ‘ If guidance on [price cap] compliance doesn’t come soon, some industry players may sit on the sidelines until they can determine that shipments under the price cap are safe.’
The US, in a neat sleight of hand, quit pressuring India to adhere to the price cap, and Yellen now says Washington is ‘happy’ for New Delhi to continue buying as much Russian oil as it wants, including at prices above a G7-imposed price cap. But there are just a few caveats: India wouldn’t be able to use western insurance, finance, or maritime services to transport the oil.
‘Russia is going to find it very difficult to continue shipping as much oil as they have done when the EU stops buying Russian oil,’ Yellen told Reuters on Friday. ‘They’re going to be heavily in search of buyers, and many buyers are reliant on Western services.’
More from Energy Intelligence on why this amounts to a de facto price cap:
Indian refiners have the capacity to soak up another 600,000 b/d of Russian crude, provided it outcompetes the staple Mideast grades that are the lifeline of the country’s 5million b/d refining base. But the availability of shipping & insurance – and payment channels – is key. From Dec 5, tankers and shipping insurance linked to EU & G7 countries – which dominate oil shipping globally – will be barred from trading Russian crude unless those volumes are sold under the price cap, as yet undetermined.
About 90% of India’s liquids trade is shipped by foreign tankers, presenting challenges, independent energy analyst Narendra Taneja said. Insurance does not appear as problematic, and analysts say Russian & Chinese firms can handle it.
This could leave Russia reliant on a shadow fleet of older tankers with opaque ownership that do not transact in dollars. According to Freight Waves:
Brokerage Braemar reported, 33 tankers previously handling Iranian or Venezuelan exports have carried Russian exports since April, mostly to China and secondarily to India.
Braemar defined the dark fleet as tankers that have carried Iranian or Venezuelan crude at least once in the past year. It put the current total at 240 tankers, mostly smaller and midsized, with 74% 19 years or older. 80 of those vessels are very large crude carriers (tankers that carry 2 million barrels) that won’t fit in Russian ports but could be used for ship-to-ship transfers for Russian cargoes.
If the entire dark fleet switched to Russian service and were as efficient as the ‘mainstream fleet,’ it would be more than enough to keep Russian exports flowing, but ‘vessels engaged in illicit trading are highly inefficient,’ Braemar emphasized.
At the same time Washington is pressuring New Delhi to comply with the price cap, it is importing from India more vacuum gas oil (VGO), which is mostly used at refineries to produce other products such as gasoline and diesel. From Reuters:
Russia used to be a key VGO supplier to US refiners before the Ukraine war broke out.
‘Given that the US is not buying Russian oil, they are looking for any and all alternatives,’ said Roslan Khasawneh, senior fuel oil analyst at Vortexa…
US & EU sanctions do not apply to refined products produced from Russian crude exported from a third country as they are not of Russian origin. In India, refiners boosted imports of discounted Russian oil to 793,000 barrels/day April-October, up from just 38,000 b/d in the same period a year ago, trade data showed.
India joins a list of countries – including Saudi Arabia, Serbia, Turkiye – that are causing heads to explode in Washington for refusing to be bullied into submission.
This all must be coming as a shock in Washington as its Indo-Pacific strategy in recent years has always included a ‘like-minded’ India helping to counter China and do the US’ bidding in Southeast Asia. The possibility that India might pursue its own national interests didn’t seem to factor into the strategy.
The tension over the Russian price cap is just the latest in a series of disagreements between New Delhi and Washington. US sanctions on Iran’s oil exports deprive India of cheap Iranian oil, and force it to buy more expensive US energy exports. India is now the largest oil export destination for the US.
Similar to the way Washington is arming Greece & Cyprus in an effort to bully Turkiye into breaking off its friendly ties with Russia, the US is doing the same in Pakistan to pressure India. The US has begun to accommodate Pakistan again after the ouster of former Pakistani PM Imran Khan, who blames his loss of power in a no-confidence vote on the US.
In September, the US State Department enraged India when it approved a $450million deal to upgrade Pakistan’s F-16 fleet. Shortly after, the US ambassador to Pakistan created more tension during a visit to the Pakistani-held part of Kashmir, which he called by its Pakistani name instead of the UN-approved name ‘Pakistan-administered Kashmir.’
On Nov 8 US State Department spokesman Ned Price lectured India on what are in its best interests:
We’ve also been clear that now is not the time for business as usual with Russia, and it’s incumbent on countries around the world to do what they can to lessen those economic ties with Russia. That’s something that’s in the collective interest, but it’s also in the bilateral interest of countries around the world to end and certainly over the course of time to wean their dependence on Russian energy. There have been a number of countries that have learned the hard way of the fact that Russia is not a reliable source of energy. Russia is not a reliable supplier of security assistance. Russia is far from reliable in any realm. So it is not only in the interest of Ukraine, it is not only in the interest of the region, of the collective interests that India decrease its dependence on Russia over time, but it’s also in India’s own bilateral interest, given what we’ve seen from Russia.
We’ll have to wait and see if the Indian people get the message because as of now the opposite is true. India’s Observer Research Foundation released poll results on Nov 2 that showed 43% of Indians regarded Russia as their country’s most reliable partner, which was far ahead of the US at 27%.
Washington would be hard pressed to explain how New Delhi scaling back its economic ties with Russia would be a good thing for India.
Fuelled by a surge in import of oil and fertilizers, India’s bilateral trade with Russia has soared to an all-time high of $18.2billion over the April-Aug period of this financial year, according to the latest data available with the Department of Commerce. That makes Russia India’s 7th biggest trading partner – up from its 25th position last year. The US, China, UAE, Saudi Arabia, Iraq and Indonesia remain ahead of Russia.
India, Iran and Russia have also spent the past 20 years developing the International North-South Transport Corridor (INSTC) to increase trade between the countries, and it took on increased importance with the western sanctions on Moscow. From The LoadStar:
RZD Logistics, a subsidiary of Russian railway monopoly RZD, has begun regular container train services from Moscow to Iran to serve growing trade with India by transloading. This is aimed at maximizing use of the alternative INSTC, a Central Asia cross-border multimodal freight network helping the 2 strategic partners work around supply-chain challenges created by western sanctions on Russia.
The inland-ocean leg involves an estimated transit time of 35 days, compared with about 40 with previous traditional shipping, according to industry sources.
In much the same way that US heavy-handedness is backfiring elsewhere, the pressure applied on India seems to only be encouraging New Delhi to find a way around the dollar. The Loadstar adds, the Reserve Bank of India is also implementing new regulatory guidelines to help exporters settle shipments in Rupees, instead of US$ that had run into sanctions-related bottlenecks:
The Federation of Indian Export Organizations has also been pressing government leaders to extend the alternative currency method beyond Russian markets.
‘While the Russia-Ukraine war is a setback to our exports in the short run, we are looking to increase our exports to Russia once the rupee payment mechanism gets operationalised,’ FIEO noted.
While India has been benefiting from the discounted Russian crude, it also wants to maintain good ties with Moscow to avoid pushing Russia closer to China and potentially Pakistan, India’s biggest rivals in Asia.
Pakistan is also now asking the Russian Trade Ministry to introduce a currency-swap arrangement to strengthen economic ties between the 2 countries.
– nakedcapitalism.com/2022/11/washington-attempts-to-bully-india-into-cutting-ties-with-russia.html
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B5. Dishonest Economics is Neoliberal Era’s Hallmark – Prabhat Patnaik
Official economists’ arguments on the World Trade Organization (WTO)’s agenda, India’s poverty line, as well as the country’s MSP (minimum support price on food grain) policy offer 3 such examples.
Economics is a subject where the ruling classes are forever trying to promote ideologically motivated explanations in lieu of scientific ones. These explanations, of course, can be and have been, fitted into an integrated totality of an alternative non-scientific theoretical structure that Marx had called ‘vulgar economy’ as distinct from classical political economy.
But even vulgar economy tries to cope systematically with observed phenomena in its own ‘vulgar’ manner. What is infinitely worse is when observed phenomena are sought to be explained in an ideologically-motivated manner, but even this is done not consistently but opportunistically. That is when economics descends from being merely ‘vulgar’ to being ‘dishonest’; and such descent is the specific hallmark of the economics of the neoliberal period. I shall confine myself here to giving just 3 examples.
My first example relates to poverty. In 1973-74, the Planning Commission in India had defined poverty as the inability to access 2,400 calories per person per day in rural India (in practice, however, it applied a lower 2,200 calories norm), and 2,100 calories per person per day in urban India.
One can quarrel with these particular figures, but at least they provided an objective benchmark that could be used on the data gathered by the quinquennial large sample surveys of the National Sample Survey to estimate the trends in poverty ratio. And this poverty ratio shows an unmistakeable increase in the country over the neoliberal period until 2011-12 (& even reportedly until 2017-18, when data suppressed by the government), that is, over the entire neoliberal period for which the NSS large sample data are available.
After its initial estimate, however, the Planning Commission shifted to an alternative definition of poverty: corresponding to the calorie benchmarks there were per capita expenditure levels in the base year, which were called ‘poverty lines’ for rural and urban India.
These base-year poverty lines were then updated for subsequent years by using a consumer price index to give new poverty lines for each subsequent year, and those falling below these new poverty lines were considered ‘poor’ even when the calorie intake associated with each such updated poverty line was steadily declining.
In other words, people were considered to be getting lifted out of poverty even when their calorie intake was falling. In spite of criticisms, this method was continued, of only using consumer price indices and not bothering about the decline in calorie intake at the updated poverty lines.
Clearly, the consumer price index numbers were underestimating the true increase in the cost of living. The net result of this shift in procedure, which had the stamp of approval of the World Bank and which presented a prettified picture of neoliberalism, was the absurdity we confront today.
India continues to remain 107th in the world hunger index among the 120+ countries for whom this index is calculated (and even in earlier pre-pandemic years its rank was around 100th), even though it claims to have brought down the poverty ratio drastically from 56.4% for rural areas and 49% for urban areas in 1973-74 to 25.7% and 13.7%, respectively, in 2011-12, and to have continued with this declining trend.
The argument used by official economists has been that as people become better off, they shift away from foodgrain consumption, and hence from mere calorie-intake considerations, toward spending more on healthcare, children’s education, and so on; the decline in calorie intake, therefore, indicates an improvement and not a deterioration in living standards. This claim, of course, is completely negated by experience: both cross-sectionally within the country and across countries, per capita calorie intake invariably increases with per capita real income. But let us ignore this fact.
The point is, when the 2009-10 NSS large sample survey showed an increase in rural poverty ratio even by the official estimate compared with 2004-5, 33.8% in 2009-10 compared with 28.3% in 2004-5 (on the calorie intake criterion, the rise was from 69.5% to 75.5%), the government ordered a completely new large sample survey to be conducted, on the grounds that 2009-10 was a drought year.
The new survey was duly conducted in 2011-12 which was a good crop year. Ironically, however, 2009-10 itself had not been a poor growth year: it had witnessed 8.6% growth in gross value added at factor cost, and 1.5% in the ‘Agriculture and Allied Activities’ segment!
In ordering the new survey, the government had, by inference, accepted the argument that lower incomes lower calorie intake, while all along it had maintained the very opposite position, articulated by official economists, that higher incomes lower calorie intake. No attempt was made to reconcile these 2 apparently opposite positions; and in this opportunistic acceptance of each, when convenient, lies the dishonesty of economics in the neoliberal period.
My 2nd example of dishonesty is from the World Trade Organization (WTO). It draws a distinction between ‘market-distorting’ and ‘non-market-distorting’ subsidies provided by governments to the agriculturists. The direct cash transfers given in advanced countries, the US & EU, to the agricultural sector, are considered non-market-distorting and hence approved without question by the WTO. But subsidies provided to the agricultural sector in Third World countries like India, which take the form of price support and input price subsidies, are considered market-distorting and hence subject to a ceiling specified by WTO.
Thus, the US gives an annual cash transfer of close to $100billion to its few agriculturists and WTO raises no objections. But there are persistent questions about India’s system of procurement prices, so essential not just for providing viability to peasant agriculture but also for maintenance of the public distribution system.
The reason for this distinction is supposed to lie in the fact that subsidising agriculture through the price-mechanism affects the position of the market equilibrium, and hence the level of output, while giving direct cash subsidies does not affect the position of the market equilibrium. Since the market equilibrium is supposed to entail an optimum deployment of resources in the economy, government support taking the form of cash transfers is preferred, as it does not disturb the market equilibrium and raise output beyond what the market dictates.
This distinction, however, is a totally dishonest one. Quite apart from the fact that even theoretically this distinction cannot be drawn, for even direct cash transfers affect the level of output, it is well-known that in many years, some crops like wheat and cotton in the US had posted negative value added. That is, the value of material inputs going into production had exceeded the value of crop output. The market equilibrium in such situations should entail zero output.
The fact that output was positive is entirely because of the direct cash transfers that provide viability to the agriculturists. Hence, the argument that direct cash transfers are non-market distorting is absolutely baseless; they have an obvious output effect. Pretending otherwise, as the WTO does, is therefore not just wrong but opportunistic as well. It is meant to serve the interests of the advanced countries by turning a blind eye to their agricultural subsidies, while coming down on the agricultural subsidies of countries like India.
My 3rd example is from the Indian government’s agricultural policy. The argument advanced in favour of doing away with the minimum support price (MSP) regime for foodgrains that has been in place for a long time, was that it encouraged peasants to keep producing foodgrains instead of shifting to other more lucrative crops.
Shifting out of foodgrain production in a country like India, afflicted with acute hunger, is of course absurd. If insufficient foodgrains are being demanded so that foodgrain stocks are piling up with the government, then the solution lies not in cutting back foodgrain production but in putting more purchasing power in the hands of the people. But let us ignore this for now.
If peasants shift from foodgrain to non-foodgrain production, then even though they may be benefited immediately because of greater profitability of the latter, they would lose out when there is a crash in price, unless an MSP regime is put in place for the latter as well.
In other words, the argument for shifting from foodgrain to non-foodgrain is completely different from the argument for having an MSP regime. If the government wants farmers to shift away from foodgrains then the solution is to introduce MSP for non-foodgrain crops, and then manipulate the MSPs in such a way that they are induced to shift to non-foodgrains.
Doing away with MSP that already exists on foodgrains in order to induce a shift to non-foodgrains is the wrong way of doing so. It is not just wrong, it is opportunistic as well, for it carries forward the WTO’s agenda of doing away with price support for farmers, on a completely and deliberately false argument that the farmers will be better off with the removal of such price support. In, fact even if they gain immediately from such removal, they will be exposed to severe risk of loss later.
Dishonesty in the name of economics is the hallmark of the neoliberal era which uses an army of by-no-means-disinterested economists to promote its agenda.
– newsclick.in/Dishonest-Economics-Neoliberal-Era-Hallmark
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C. News Index______________________________________________
• ee News Index provides headlines & links to make sense of the weekly focus of published English ‘business news’ to expose the backwardness of multinational, corporate controlled ‘local media’:
C1. Sovereignty
(ee is pro-politics, pro-politician, pro-nation-state, anti-corporatist, anti-expert, anti-NGO)
ee Sovereignty news emphasizes sovereignty as economic sovereignty – a strong nation is built on modern (machine-making) industrialization fueled by a producer culture.
• An anti-Sinhala budget – Nalin de Silva
– kalaya.org/2022/11/blog-post_40.html
• Sri Lanka in talks for USD 1 Bn ‘debt-for-nature’ swap deal: report
‘Sri Lanka has been discussing a deal of up to $1 billion according to people familiar with those talks’
– adaderana.lk/news/86223/sri-lanka-in-talks-for-usd-1-bn-debt-for-nature-swap-deal-report
• US owns SL Beach
– presidentsoffice.gov.lk/index.php/2022/10/30/the-united-states-has-supported-sri-lanka-in-every-difficult-situation-president/
• US State Department Deputy Assistant Secretary Afreen Akhter, Bureau of South and Central Asian Affairs visits Port of Colombo
‘Political Affairs Unit Chief J.P Feldmayer, Ruby Woodside, Political Officer, U.S. Embassy Colombo, Brian T Varney, Senior Advisor, Maritime Administration, U.S. DO also took part in the event.’
– island.lk/u-s-state-department-deputy-assistant-secretary-bureau-of-south-and-central-asian-affairs-visits-port-of-colombo/
• No action taken for several years against SL businessman accused by US of al-Qaeda financing
– sundaytimes.lk/221113/news/no-action-taken-for-several-years-against-lankan-businessman-accused-of-al-qaeda-financing-501845.html
• If Islamic extremist teachings removed from textbooks, why not distributing [sic!] them? Minister
– lankaweb.com/news/items/2022/11/15/if-islamic-extremist-teachings-removed-from-textbooks-why-not-distributing-them-minister/
• Presidential Secretariat Northern Province Coordination Sub-Office inaugurated
– adaderana.lk/news/86247/presidential-secretariat-northern-province-coordination-sub-office-inaugurated
• Indian Air Force, French Air and Space Force personnel participating in bilateral exercise ‘Garuda VIl’
– island.lk/iaf-french-air-and-space-force-personnel-participating-in-bilateral-exercise-garuda-vil/
• Pakistan, Lanka vow to boost defence and military ties
– lankaweb.com/news/items/2022/11/18/pakistan-lanka-vow-to-boost-defence-and-military-ties/
• Indian Coast Guard nabs 11 Lankan fishermen
– island.lk/indian-coast-guard-nabs-11-lankan-fishermen/
• Lanka envoy Moragoda meets NSA Ajit Doval, discusses bilateral ties
– island.lk/lanka-envoy-moragoda-meets-nsa-ajit-doval-discusses-bilateral-ties/
• Four freed convicts of Rajiv case detained at Tiruchy camp
– lankaweb.com/news/items/2022/11/13/four-freed-convicts-of-rajiv-case-detained-at-tiruchy-camp/
• Who and where is Nalini Sriharan’s daughter Harithra? Rajiv Gandhi assassination convict claims innocence after release
– lankaweb.com/news/items/2022/11/13/who-and-where-is-nalini-sriharans-daughter-harithra-rajiv-gandhi-assassination-convict-claims-innocence-after-release/
• ‘Not happy at present.. release my husband’: Nalini Sriharan requests TN, centre
– lankaweb.com/news/items/2022/11/15/not-happy-at-present-release-my-husband-nalini-sriharan-requests-tn-centre/
• Rajiv Gandhi case: Released Sri Lankan nationals to be deported
– lankaweb.com/news/items/2022/11/16/rajiv-gandhi-case-released-sri-lankan-nationals-to-be-deported/
• SL-born English tax evader meets President and gives 5-star dinner to released prisoners
– sundaytimes.lk/221113/columns/sri-lanka-born-british-tax-evader-meets-president-and-gives-five-star-dinner-to-released-prisoners-501806.html
• Canada-based Tamil Diaspora leaders to visit Colombo
– island.lk/justice-minister-wijeyadasa-invites-canada-based-tamil-diaspora-leaders-to-visit-colombo/
• Tamil diaspora organisation writes to Justice Minister with demands to foster reconciliation
– ft.lk/news/Tamil-diaspora-organisation-writes-to-Justice-Minister-with-demands-to-foster-reconciliation/56-742046
• Justice Ministry Committee to resolve North-East land issues
– themorning.lk/justice-ministry-committee-to-resolve-north-east-land-issues/
• Sri Lankan President at the 70th anniversary of US-Sri Lanka Fulbright Commission Program
– english.newsfirst.lk/2022/11/17/sri-lanka-to-improve-english-education-in-next-ten-years-president
• UNP to take action against its member who protested in front of Chinese Embassy
– dailymirror.lk/breaking_news/UNP-to-take-action-against-its-member-who-protested-in-front-of-Chinese-Embassy/108-248474
• England’s Parliament on the Offensive Against Sri Lanka
– sundaytimes.lk/221113/columns/foreign-ministry-fails-to-help-sri-lanka-improve-its-image-501779.html
• Netherlands Embassy brings responsible business conduct to forefront
– island.lk/netherlands-embassy-brings-responsible-business-conduct-to-forefront/
• ‘I was not aware of Rajiv Gandhi assassination’, says Nalini
– island.lk/i-was-not-aware-of-rajiv-gandhi-assassination-says-nalini/
• Our Non-Alignment and India’s multiple alignment policy
‘And India right now keeps the Sri Lankan gas cookers burning, people from starving and dying with financial assistance in the forms of billion-dollar loans, the terms on which the people will have to re-pay remains unknown. India is recognised by the Western power bloc including Japan as the de facto regional power of South Asia, leaving South Asian nations to India’s mercy.’
– sundaytimes.lk/221113/sunday-times-2/our-non-alignment-and-indias-multiple-alignment-policy-501607.html
• Deconstructing Sri Lanka’s foreign policy with Foreign Affairs Minister Ali Sabry
‘True, we were not economists per se but we … went to the cabinet and suggested we must go to IMF, we must slowly depreciate the local currency to encourage the inflow of remittance’
– ft.lk/opinion/Deconstructing-Sri-Lanka-s-foreign-policy/14-742011
• Forty recruits to be absorbed to foreign service – Minister Sabry
– adaderana.lk/news/86228/forty-recruits-to-be-absorbed-to-foreign-service-minister-sabry
• United Nations Dispute Tribunal position – Sri Lankan in the fray for the first time
– sundaytimes.lk/221113/news/united-nations-dispute-tribunal-position-sri-lankan-in-the-fray-for-the-first-time-501826.html
• South African President celebrates birthday in Sri Lanka
‘His credentials for the struggle against apartheid can be traced to his activism in student politics at the University of the North (now University of Limpopo)’
– english.newsfirst.lk/2022/11/17/south-african-president-celebrates-birthday-in-sri-lanka
• SL-South Africa to strengthen relationship based on economic cooperation & investment
– bizenglish.adaderana.lk/sri-lanka-south-africa-to-strengthen-bilateral-relationship-based-on-economic-cooperation-and-investment/
• Korea – Sri Lanka diplomatic relations mark 45th Anniversary today
– island.lk/korea-sri-lanka-diplomatic-relations-mark-45th-anniversary-today/
• UN envoy admits fabricating claim of Viagra-fueled rape as ‘Russian military strategy’
– thegrayzone.com/2022/11/13/un-envoy-fabricating-viagra-russian/
• The G20 is dead. Long live the G20
– indianpunchline.com/the-g20-is-dead-long-live-the-g20/
• India to assume G20 presidency from next month
– ft.lk/front-page/India-to-assume-G20-presidency-from-next-month/44-741991
• The Indian Diaspora has arrived – Tharoor
‘Sunak’s rise points to a broader, longer-term phenomenon: the growing prominence of the Indian diaspora across the Western world.’
– sundaytimes.lk/221113/sunday-times-2/the-indian-diaspora-has-arrived-501617.html
• India can buy as much Russian oil as it wants, outside price cap: Yellen
‘if it steers clear of Western insurance, finance and maritime services bound by the cap’
– thedailystar.net/business/news/india-can-buy-much-russian-oil-it-wants-outside-price-cap-yellen-3167181
• Washington Attempts to Bully India into Cutting Ties with Russia
– nakedcapitalism.com/2022/11/washington-attempts-to-bully-india-into-cutting-ties-with-russia.html
• Sailing in two boats: Can India be mediator on Ukraine when it’s having a windfall in war profiteering? – Bhadrakumar
– tribuneindia.com/news/comment/sailing-in-two-boats-450614
• Threat of terrorism grave and universal, says India
– island.lk/threat-of-terrorism-grave-and-universal-says-india/
• Assassination Time Again – Tariq Ali
‘A corrupt and violent elite linked to all political parties and the Army will not disappear overnight. The ruling classes in the country have done virtually nothing to help the poor.’
– newleftreview.org/sidecar/posts/assassination-time-again
• Shooting of Imran Khan takes Pakistan into dangerous political waters
‘the recent killing in Kenya of Pakistani journalist Ashraf Sharif,’
– island.lk/shooting-of-imran-khan-takes-pakistan-into-dangerous-political-waters/
• Pakistan: Dangerous Interregnum, Catastrophic Equilibrium?
– socialistproject.ca/2022/11/pakistan-dangerous-interregnum/
• US Prepping for a China War: The United States and the New Arc of Militarization Across Northern Australia
– lankaweb.com/news/items/2022/11/17/prepping-for-a-china-war-the-united-states-and-the-new-arc-of-militarization-across-northern-australia/
– asia-pacificresearch.com/prepping-china-war-united-states-new-arc-militarization-across-northern-australia/5631415
• China Is Making More Big Moves in Latin America
– nakedcapitalism.com/2022/11/chinas-making-new-big-moves-in-latin-america.html
• China’s Xi confronts Canada’s Trudeau over media leaks
– dailymirror.lk/breaking_news/Chinas-Xi-confronts-Canadas-Trudeau-over-media-leaks/108-248772
• N. Korea test-fires intercontinental ballistic missile with range to strike entire U.S.
– adaderana.lk/news/86220/n-korea-test-fires-intercontinental-ballistic-missile-with-range-to-strike-entire-us
• Australian PM to hold landmark talks with Chinese President Xi Jinping at G20 summit
– smh.com.au/politics/federal/anthony-albanese-to-hold-landmark-talks-with-chinese-president-xi-jinping-at-g20-summit-20221114-p5by7m.html
• Australia’s Defence Policy Explained
– youtube.com/watch?v=MTCqXlDjx18
• Australia’s North West Cape cluster of high technology defence facilities
– nautilus.org/briefing-books/australian-defence-facilities/richard-tanter-the-north-west-cape-cluster-of-high-technology-defence-facilities/
• The Joint Australia-USA Relay Ground Station at Pine Gap
– nautilus.org/briefing-books/australian-defence-facilities/pine-gap/the-pine-gap-project/
• Tightly Bound: Australia’s Alliance-Dependent Militarisation
– johnmenadue.com/richard-tanter-tightly-bound-australias-alliance-dependent-militarisation/
• Russian FM says West seeking to militarize southeast Asia to contain Russia, China
Speaking during a press conference at the conclusion of the Association of Southeast Asian Nations (ASEAN) summit in Phnom Penh, Lavrov scolded the United States over its actions in the region,’
– english.alarabiya.net/News/world/2022/11/13/Russian-FM-says-West-seeking-to-militarize-southeast-Asia-to-contain-Russia-China
• Russia strategises with Iran for the long haul in Ukraine
‘Ali Shamkhani, representative of Supreme Leader and secretary of Supreme National Security Council, met Nikolai Patrushev, Secretary of Russia’s Security Council, Tehran, Nov. 9, 2022’
– indianpunchline.com/russia-strategises-with-iran-for-the-long-haul-in-ukraine/
• Rewiring Eurasia: Mr. Patrushev goes to Tehran
– thecradle.co/Article/Columns/18115
• On Iran – Fakenews From Newsweek
– moonofalabama.org/2022/11/on-iran-fakenews-from-newsweek.html
• Disinformation at highest level’: PM Trudeau slammed for tweeting, then deleting, false Iran news
– yahoo.com/now/trudeau-iran-tweet-false-execution-181750421.html
• How English intelligence weaponizes the Sunni clergy class
‘Information Research Department, a Cold War-era Foreign Office propaganda unit that acted in close coordination and shared staff with MI5 and MI6, had decades earlier conducted “religious operations” in the Arab world in order to weaponize Muslims against the Soviet Union, and further London’s interests in the region.’
– thecradle.co/Article/investigations/17985
• US intelligence report says key gulf ally meddled in US politics
‘hiring of three former US intelligence and military officials to help the UAE surveil dissidents, politicians, journalists and U.S. companies. In public legal filings, U.S. prosecutors said the men helped the UAE break into computers in the US and other countries…the UAE also hosts 5,000 US military personnel at al-Dhafra Air Base and U.S. warships at the Jebel Ali deep-water port.’
– washingtonpost.com/national-security/2022/11/12/uae-meddled-us-politics-intel-report/
• Report says U.S. forces loot 94 more truckloads of Syrian oil and wheat
– radiohc.cu/en/noticias/internacionales/304912-report-says-us-forces-loot-94-more-truckloads-of-syrian-oil-and-wheat
• Angry villagers and troops block U.S. military convoy from advancing in Syria’s Hasakah
– radiohc.cu/en/noticias/internacionales/305183-angry-villagers-and-troops-block-us-military-convoy-from-advancing-in-syrias-hasakah
• Israel announces bid to upgrade apartheid wall amid West Bank tensions
– radiohc.cu/en/noticias/internacionales/305184-israel-announces-bid-to-upgrade-apartheid-wall-amid-west-bank-tensions
• Turkish Interior Minister Rejects US Condolences Following Istanbul Terrorist Attack
– sputniknews.com/20221114/turkish-interior-minister-criticizes-us-position-on-istanbul-terrorist-act-1104092930.html
• Angry Turks & Talking Turkey About Ukraine In Turkiye?
‘Turkey blames the US for the attack due to its role in funding and arming the Kurds in Syria and Iraq.’
– sonar21.com/angry-turks-talking-turkey-in-turkiye/
• U.S.-Russian Intelligence Chiefs Discuss Ukraine
– moonofalabama.org/2022/11/us-russia-intelligence-chiefs-discuss-ukraine.html
• Another Ukrainian Missile Stunt
– moonofalabama.org/2022/11/another-ukrainian-missile-stunt.html#more
• Ukraine: How the world came devastatingly close to a nuclear war
– dailymirror.lk/opinion/Ukraine-How-the-world-came-devastatingly-close-to-a-nuclear-war/172-248797
• Poland missile attack: US President says ‘unlikely’ that missile fired from Russia
– island.lk/poland-missile-attack-us-president-says-unlikely-that-missile-fired-from-russia/
• The Stage Is Set for US Combat Troops in Ukraine
– unz.com/mwhitney/the-stage-is-set-for-us-combat-troops-in-ukraine/
• When Marshal Kutuzov joins General Winter and General Surovikin, What Happens Next On The Front
– johnhelmer.net/when-marshal-kutuzov-joins-general-winter-and-general-surovikin-what-happens-next-on-the-front/#more-70188
• The English Government’s Public Inquiry Into Novichok Is Broadcasting With A 5-Minute Censorship Delay
– johnhelmer.net/the-british-governments-public-inquiry-into-novichok-is-broadcasting-with-a-5-minute-censorship-delay
• English Government’s Novichok Inquiry Reveals That Its Novichok Case Officers Are Also The Government’s Ukraine Warfighters
– johnhelmer.net/british-governments-novichok-inquiry-reveals-that-its-novichok-case-officers-are-also-the-governments-ukraine-warfighters
• Endless war, endless crisis, fascist hell: chasm Ukraine conflict has created for NATO countries
– rainershea.substack.com/p/endless-war-endless-crisis-fascist
• Don’t Believe the Hype. Ukraine Can’t Win This War.
– lankaweb.com/news/items/2022/11/15/scott-ritter-dont-believe-the-hype-ukraine-cant-win-this-war/
• The real root of the Ukraine conflict goes back 100 years and is misunderstood in the West
‘We have seen this before during the Anglo-French standoffs in America and India. And how did it end for Native Americans and Indians? Not good.’
– swentr.site/russia/561326-vladislav-ugolny-31st-independence-of-ukraine/
• Ukraine – Switching The Lights Off
– moonofalabama.org/2022/11/ukraine-switching-the-lights-off.html
• Why Don’t the Poles Admit The War Isn’t Winning the Next Polish Election and isn’t in Poland’s National Interest – Unless Zelensky Loses Galicia to Poland, Again
– johnhelmer.net/why-dont-the-poles-admit-the-war-isnt-winning-the-next-polish-election-and-isnt-in-polands-national-interest-unless-zelensky-loses-galicia-to-poland-aga
• At G20, Bid to Encircle and Isolate Russia Continued
– newsclick.in/g20-bid-encircle-and-isolate-russia-continued
• Endgame in Ukraine struggling to be born – Bhadrakumar
‘The US and its alliance partners have no intention to fight Russia’
– indianpunchline.com/endgame-in-ukraine-struggling-to-be-born/
• The Congo Protests U.N. & International Community “Hipocrisy”
– youtube.com/watch?v=VjCFFAKkxTc
• Water Running Red in Africa’s Great Lakes Region
– newsclick.in/Water-Running-Red-Africa-Great-Lakes-Region
• English Tory-linked lobbying firm agreed to help swing DRC election, leak suggests
‘CT Group, co-owned by Lynton Crosby, planned secretive African campaign on behalf of Canadian mining giant…’
– theguardian.com/politics/2022/nov/03/tory-linked-lobbying-firm-agreed-to-help-swing-drc-election-leak-suggests
• Muhammadu Buhari: How not to talk with Africa about climate change
– washingtonpost.com/opinions/2022/11/09/nigerian-president-cop27-africa-climate-change/
• The Cuban Revolution Today: Experiments in the Grip of Challenges.
– monthlyreview.org/2022/01/01/preface
• Private Facebook Group that Organized the July Protests in Cuba Plans Bigger Ones Soon
‘Perez Rodriguez … In fact, he does not even live in Cuba; he left the island in 2010 and today works as a pastor at a Seventh Day Adventist church in southern Florida.’
– libya360.wordpress.com/2021/10/05/private-facebook-group-that-organized-the-july-protests-in-cuba-plans-bigger-ones-soon
• Counter-revolutionary groups burn down union headquarters in Santa Cruz in Bolivia
– radiohc.cu/en/noticias/internacionales/304799-counter-revolutionary-groups-burn-down-union-headquarters-in-santa-cruz
• Evo reiterates his gratitude to Mexican and Argentinean presidents
– radiohc.cu/en/noticias/internacionales/304782-evo-reiterates-his-gratitude-to-mexican-and-argentinean-presidents
• Venezuela rejects renewal of EU sanctions
– radiohc.cu/en/noticias/internacionales/304906-venezuela-rejects-renewal-of-eu-sanctions
• Venezuela Rejects ‘Biased’ Decision to Resume ICC Probe into Alleged Human Rights Abuses
– lankaweb.com/news/items/2022/11/15/venezuela-rejects-biased-decision-to-resume-icc-probe-into-alleged-human-rights-abuses/
• Venezuela calls on International Court of Justice to declare Guyana’s claim inadmissible
– radiohc.cu/en/noticias/internacionales/305292-venezuela-calls-on-international-court-of-justice-to-declare-guyanas-claim-inadmissible
• Brazilian Supreme Court blocks bank accounts of coup promoters
– radiohc.cu/en/noticias/internacionales/305290-brazilian-supreme-court-blocks-bank-accounts-of-coup-promoters
• Despite Rishi Sunak, Western Liberal View on Race and Class Hasn’t Changed
– newsclick.in/despite-rishi-sunak-western-liberal-view-race-class-hasnt-changed
• The Young Global Leaders of the Davos World Economic Forum (WEF)
– swprs.org/the-young-global-leaders-of-the-davos-world-economic-forum-wef/
________________________________________________________________
C2. Security (the state beyond ‘a pair of handcuffs’, monopolies of legitimate violence)
ee Security section focuses on the state (a pair of handcuffs, which sposedly has the monopoly of legitimate violence), and how the ‘national security’ doctrine is undermined by private interests, with no interest in divulging or fighting the real enemy, whose chief aim is to prevent an industrial renaissance as the basis of a truly independent nation.
• PricewaterhouseCoopers frown upon Wickremesinghe’s high defence budget
– economynext.com/sri-lanka-analysts-frown-upon-wickremesinghes-high-defence-budget-103035/
• UPR sessions in Geneva: Justice Marasinghe faces daunting task
‘UPR Info Pre-sessions 2022, held in Geneva, from the 28th November – 2nd December 2022’
– island.lk/upr-sessions-in-geneva-justice-marasinghe-faces-daunting-task/
• Wijeyadasa chairs special review meeting on PTA prisoners
– ft.lk/news/Wijeyadasa-chairs-special-review-meeting-on-PTA-prisoners/56-742142
• Probe on Kurunegala MC sends shockwaves through political parties
– island.lk/probe-on-kurunegala-mc-sends-shockwaves-through-political-parties/
• Student leaders detained under PTA, remanded
– english.newsfirst.lk/2022/11/17/student-leaders-detained-under-pta-remanded
• “Drop charges against student leaders”: Amnesty International urges Sri Lankan authorities
– adaderana.lk/news/86205/drop-charges-against-student-leaders-amnesty-international-urges-sri-lankan-authorities
• Activists call on diplomatic missions to pressure Govt to release student union leaders incarcerated under PTA
– ft.lk/news/Activists-call-on-diplomatic-missions-to-pressure-Govt-to-release-student-union-leaders-incarcerated-under-PTA/56-741992
• Petitions against Presidential Pardon granted to Duminda Silva: Gota to be named as a respondent
– dailymirror.lk/breaking_news/Petitions-against-Presidential-Pardon-granted-to-Duminda-Silva-Gota-to-be-named-as-a-respondent/108-248791
• Several roads leading to Colombo blocked due to protest
– dailymirror.lk/breaking_news/Several-roads-leading-to-Colombo-blocked-due-to-protest/108-248854
• Road closed from UN office towards Borella
– dailymirror.lk/breaking_news/Road-closed-from-UN-office-towards-Borella/108-248852
• Tear gas and water cannons fired at IUSF protestors
– dailymirror.lk/breaking_news/Tear-gas-and-water-cannons-fired-at-IUSF-protestors/108-248856
– timesonline.lk/news-online/Police-Use-Tear-gas-on-IUSF-protestors/2-1139652
• IUSF protests in Colombo – Met with full police force
– english.newsfirst.lk/2022/11/18/iusf-protests-in-colombo-met-with-full-police-force
• Protest to proceed despite Mudalige being remanded until AG’s instructions
– themorning.lk/protest-to-proceed-despite-mudalige-being-remanded-until-ags-instructions/
• Hirunika among 15 released on bail
– island.lk/hirunika-among-15-released-on-bail/
• SJB slams AG over delay in responding to its RTI query
– island.lk/sjb-slams-ag-over-delay-in-responding-to-its-rti-query/
• Cardinal asks Catholic lawyers to remain politically independent
‘National Chaplain of the Catholic Lawyers’ Guild, Freely Muthukudaarachchi, former Chaplain Noel Dias, and Diocesan Marriage Tribunal Judicial Vicar Christo Viraj Fernando were also present’
– island.lk/cardinal-asks-catholic-lawyers-to-remain-politically-independent
• Six women arrested for stoning police
– timesonline.lk/news-online/Six-women-arrested-for-stoning-police/2-1139626
• Police condemned for harassing women
– island.lk/police-condemned-for-harassing-women/
• Silent protest near Police HQ over Police violence on women
– themorning.lk/silent-protest-near-police-hq-over-police-violence-on-women/
• Two in every five Sri Lankan women face sexual harassment
– dailymirror.lk/breaking_news/Two-in-every-five-Sri-Lankan-women-face-sexual-harassment/108-248784
• Danushka Gunathilaka granted bail on sexual assault charges
– dailymirror.lk/top_story/Danushka-Gunathilaka-granted-bail-on-sexual-assault-charges/155-248760
• SLC pays $38,000 to law firm handling Dhanushka’s case
– dailymirror.lk/breaking_news/SLC-pays-38-000-to-law-firm-handling-Dhanushkas-case/108-248794
• Two gangsters killed in shootout with STF in Minuwangoda
– dailymirror.lk/breaking_news/Two-gangsters-killed-in-shootout-with-STF-in-Minuwangoda/108-248803
• Police Commission flooded with complaints against Police in 2022
– themorning.lk/police-commission-flooded-with-complaints-against-police-in-2022/
• Weakness in Sinhala influenced my decision to emigrate to Australia
– island.lk/weakness-in-sinhala-influenced-my-decision-to-emigrate-to-australia/
• India shocked as men sentenced to death for rape freed
– island.lk/india-shocked-as-men-sentenced-to-death-for-rape-freed/
• Policing and the right to protest
‘In the Pakistani context, the police and local administration often use brute force to disperse peaceful protests of teachers, farmers, young doctors and nurses…However, they react differently whenever religious and political parties launch demonstrations.’
– island.lk/policing-and-the-right-to-protest/
• A Manufactured Crime Panic in New York
– blackagendareport.com/manufactured-crime-panic-new-york
• USA’s Military Empire: A Visual Database
– lankaweb.com/news/items/2022/11/15/usas-military-empire-a-visual-database/
• Mh17 Court Applies Dutch Law of Finger-Pointing — Guilt By Association if the Perpetrator is Russian, Innocence By Association if Prosecutor Is Dutch or Ukrainian
– johnhelmer.net/mh17-court-applies-dutch-law-of-finger-pointing-guilt-by-association-if-the-perpetrator-is-russian-innocence-by-association-if-prosecutor-is-dutch-or-ukrainian/#more-70242
_____________________________________________________________
C3. Economists (Study the Economists before you study the Economics)
ee Economists shows how paid capitalist/academic ‘professionals’ confuse (misdefinitions, etc) and divert (with false indices, etc) from the steps needed to achieve a modern industrial country.
• Budget being drafted at the IMF headquarters in Washington
– sundaytimes.lk/221113/editorial/budget-2023-tax-political-parties-and-follow-the-money-trail-501763.html
• GL: Prez delivered what was prepared by IMF
– island.lk/gl-prez-delivered-what-was-prepared-by-imf/
• We are at the mercy of the financial gods of the IMF and nations to whom we’re heavily in debt
– sundaytimes.lk/221113/columns/an-anxiously-awaited-budget-501768.html
• UNP Vajira asks whether SL economy run by govt. or intl. force
– dailymirror.lk/breaking_news/Vajira-asks-whether-SL-economy-run-by-govt-or-intl-force/108-248855
• Policy for National Investment Bank – Kariyawasam
– medium.com/@MilanKtk12/policy-for-national-investment-bank-c5a15142d2d7
• Can the IMF Alone Deliver?
‘China holds about 12 per cent of our foreign debt. It is not only to Sri Lanka however that China has lent massively, but to most of the region and beyond. As such, China may not be in a position to accept a ‘haircut’ from Sri Lanka, without upsetting their other bilateral relations.’
– lankaweb.com/news/items/2022/11/18/can-the-imf-alone-deliver/
• Former Central Bank Governor Cabraal book, ‘Arthika Ghathakayan Meda” (Amidst Economic Hitmen)
‘Cabraal claims declaring bankruptcy was ‘the greatest betrayal in Sri Lanka’s post-Independence history,’ and alleges it was part of a vast conspiracy to make Sri Lanka ‘fall to its knees before the international community.’
– sundaytimes.lk/221113/columns/sri-lanka-born-british-tax-evader-meets-president-and-gives-five-star-dinner-to-released-prisoners-501806.html
• Governor of the Central Bank earns a pension from IMF
– island.lk/to-laugh-or-to-cry/
• Sri Lanka avoided ‘crash landing’ of its economy – CBSL Governor
– lankaweb.com/news/items/2022/11/15/sri-lanka-avoided-crash-landing-of-its-economy-cbsl-governor/
• Sri Lanka broke currency peg without hiking rates, monetary board recommendations: CB Governor
– economynext.com/sri-lanka-broke-currency-peg-without-hiking-rates-monetary-board-recommendations-cb-governor-103073/
• CB Chief assures to address rise in short-term interest rate
– ft.lk/front-page/CB-Chief-assures-to-address-rise-in-short-term-interest-rate/44-741988
• CB believes interest rates at peak levels after inflation turned a corner
– dailymirror.lk/breaking_news/CB-believes-interest-rates-at-peak-levels-after-inflation-turned-a-corner/108-248732
• Lanka, too, victim of aggressive interest rate hikes in US
– island.lk/lanka-too-victim-of-aggressive-interest-rate-hikes-in-us/
• Sri Lanka has no intention of re-structuring, bank, insurance or pension fund debt: Minister
– economynext.com/sri-lanka-has-no-intention-of-re-structuring-bank-insurance-or-pension-fund-debt-minister-103252/
• No move to restructure domestic debt: State Minister
– dailymirror.lk/breaking_news/No-move-to-restructure-domestic-debt-State-Minister/108-248773
– ft.lk/front-page/State-Minister-says-no-plans-to-restructure-domestic-debt/44-742061
• Parliament committee says government trying to restructure domestic debt
– newsfirst.lk/2022/11/16/parliament-committee-says-government-trying-to-restructure-domestic-debt/
• Sri Lanka postpones debt restructuring talks, hopes for IMF deal in December
– english.newsfirst.lk/2022/11/18/sri-lanka-hopes-for-imf-deal-in-december
– bizenglish.adaderana.lk/sri-lanka-postpones-debt-restructuring-talks-hopes-for-imf-deal-in-dec/
• Harsha’s ‘IMF agreement copy’ sets govt – opposition on collision course
‘They (IMF) has given us targets. That won’t change. The Budget is to try and accelerate it so that we can have a higher growth rate and more development and investment.’
– sundaytimes.lk/221113/columns/harshas-imf-agreement-copy-sets-govt-opposition-on-collision-course-501688.html
• Sri Lanka’s roadmap for economic stabilisation unveils soon
– sundaytimes.lk/221113/business-times/sri-lankas-roadmap-for-economic-stabilisation-unveils-soon-501406.html
• President presents budget replete with reforms
– island.lk/president-presents-budget-replete-with-reforms/
• DEW warns govt. hasn’t really taken into consideration global or domestic situations into consideration
– island.lk/dew-warns-govt-hasnt-really-taken-into-consideration-global-or-domestic-situations-into-consideration/
• Ranawaka says deficit an undercount
– island.lk/ranawaka-says-deficit-an-undercount/
• Law reforms for economic stabilisation before Parliament next month: Patali
– ft.lk/front-page/Law-reforms-for-economic-stabilisation-before-Parliamentnext-month-Patali/44-742146
• Budget speech a confession by a President responsible for country’s downfall: Handunnetti
– ft.lk/news/Budget-speech-a-confession-by-a-President-responsible-for-country-s-downfall-Handunnetti/56-742072
• 400 school students present for Budget speech
– timesonline.lk/news-online/400-school-students-to-be-present-for-Budget-speech/2-1139557
• Only 4 Constitutional Council members for tomorrow’s Budget hearing
‘Ganesan wants 4 MPs representing “the ethnic diversity of Sri Lanka” to the CC’
– sundaytimes.lk/221113/news/only-four-constitutional-council-members-for-tomorrows-budget-hearing-501828.html
• Basil to return to SL on Saturday, will aim for 2/3rd for the budget in December
– dailymirror.lk/breaking_news/Basil-to-return-to-SL-on-Saturday-will-aim-for-23rd-for-the-budget/108-248800
• SLFP opposes alleged privatisation of SLT and SriLankan
– ft.lk/news/SLFP-opposes-alleged-privatisation-of-SLT-and-SriLankan/56-741995
• Dayasiri faults President for wrong interpretations of recent history
‘By the time the Bandaranaikes handed over the country to the incumbent President’s uncle, JR Jayewardene, this country had a surplus budget. JRJ chose the popular path and ruined the country.’
– island.lk/dayasiri-faults-president-for-wrong-interpretations-of-recent-history
• RW Budget 2023 provides no relief to the people or to the economy: Dayasiri
– dailymirror.lk/breaking_news/RW-Budget-2023-provides-no-relief-to-the-people-or-to-the-economy-Dayasiri/108-248738
• Ranil’s tax policies will discourage investors -Harsha
– island.lk/ranils-tax-policies-will-discourage-investors-harsha/
• Eran calls on three presidents to publicise asset declarations
– themorning.lk/eran-calls-on-three-presidents-to-publicise-asset-declarations/
• SJB demands publication of MPs’ asset declarations
– island.lk/sjb-demands-publication-of-mps-asset-declarations/
• Eran says Budget 2023 fraught with ideas but no practical solutions
– ft.lk/front-page/Eran-says-Budget-2023-fraught-with-ideas-but-no-practical-solutions/44-742052
• KPMG says tax ombudsman without powers useless
– dailymirror.lk/business-news/Expert-says-tax-ombudsman-without-powers-useless/273-248729
• New members appointed to COPE, COPA and Committee on Public Finance
– dailymirror.lk/breaking_news/New-members-appointed-to-COPE-COPA-and-Committee-on-Public-Finance/108-248914
• Govt loses over Rs.1 billion for 13 sports development projects
– timesonline.lk/news-online/Govt-loses-over-Rs-1-billion-for13-sports-development-projects/2-1139661
• Justice Minister questions logic of keeping CIABOC
– island.lk/justice-minister-questions-logic-of-keeping-ciaboc/
• President to keynote Daily FT-Colombo Uni. MBAA post Budget forum on Friday
‘partners are Standard Chartered Bank, Ogilvy Digital, SC Securities and PriceWaterhouseCoopers.
With Treasury Secretary Mahinda Siriwardena, Central Bank Governor Nandalal Weerasinghe, World Bank Country Director Faris Hadad-Zervos, Asian Development Bank Country Director Chen Chen, Institute of Policy Studies Executive Director Dushni Weerakoon, Ceylon Chamber of Commerce Chairman Vish Govindasamy, PriceWaterhouseCoopers Sri Lanka Tax Director Charmaine Tillekaratne, SC Securities CEO Roshantha Fernando and SCB Sri Lanka CEO Bingumal Thewarathanthri, Daily FT CEO and Editor Nisthar Cassim’
– ft.lk/front-page/President-to-keynote-Daily-FT-Colombo-Uni-MBAA-post-Budget-forum-on-Friday/44-741984
• Ranil spells out winning formula at post Budget forum
‘Explaining the rationale for selling these SOEs, he said it can boost the foreign reserves and strengthen the rupee. “I will tell you one thing, If I can sell more and put $ 7 billion back, I will do it – and tomorrow Sri Lanka will be back to normal.’
– ft.lk/top-story/Ranil-spells-out-winning-formula/26-742151
• President to inaugurate Sri Lanka Economic Summit 2022
‘guest of honour World Bank Regional Vice-President for the South Asia Region Martin Raiser interviewed by Centre for a Smart Future Co-Founder Anushka Wijesinha. Ceylon Chamber of Commerce (CCC) Chairman Vish Govindasamy will deliver welcome…Standard Chartered Bank and CHEC Port City Colombo, Daraz Sri Lanka and South Asia Gateway Terminals are sponsors. The International Finance Corporation (IFC) is knowledge partner. Dialog Axiata PLC and Dialog Television are telecom partner and television partner, while Economy.lk and Omnicom Media Group are communications sponsors. The Shangri-La Hotel, Colombo is hospitality partner’
– themorning.lk/president-to-inaugurate-sri-lanka-economic-summit-2022/
– dailymirror.lk/business-news/President-to-inaugurate-CCCs-Sri-Lanka-Economic-Summit-2022/273-248897
• Gendering the debt crisis: Feminists on Sri Lanka’s financial crisis
‘Working class women cannot be made to pay for the ‘odious debt’ generated by the recklessness and corruption of (almost entirely male) Sri Lankan political elites’
– ft.lk/opinion/Gendering-the-debt-crisis-Feminists-on-Sri-Lanka-s-financial-crisis/14-741880
• ‘Funds taken for Development gone missing’ – Rusirupala Tennakoon
‘At present we need money to buy food. Honestly today we have no food. In such a situation we do not need a long-term programme. This does not have space for adjustments. The way we requested for IMF aid is wrong.’
– dailymirror.lk/hard-talk/Funds-taken-for-Development-gone-missing/334-248733
• Plight and Prospects of our Public Service – Kulatunga
– lankaweb.com/news/items/2022/11/12/plight-and-prospects-of-our-public-service/
• Objectives and expectations of the Budget for 2023 – Sanderatne
‘fiscal consolidation can’t be achieved without pruning Government expenditure through public sector reforms.’
– sundaytimes.lk/221113/columns/objectives-and-expectations-of-the-budget-for-2023-501625.html
• Money is someone’s debt – Not all of them have an international value: Abeyratne
– sundaytimes.lk/221113/business-times/money-is-someones-debt-501412.html
• Budget 2023 will be the acid test of RW’s magic wand – Wijewardena
– ft.lk/columns/Budget-2023-will-be-the-acid-test-of-RW-s-magic-wand/4-741911
• Sri Lanka ‘free market Uncle’s’ policy framework egged: legislator
– economynext.com/sri-lanka-free-market-uncles-policy-framework-egged-legislator-103393/
• Olcott Oration 2022 – Thilan Wijesinghe – Sri Lanka Economic Situation
– lankaweb.com/news/items/2022/11/13/olcotte-oration-2022-key-note-speech-mr-thilan-wijesinghe-sri-lanka-economic-situation/
• Thilan’s Speech is One of the Best on Economics If Reasons Were Included
– lankaweb.com/news/items/2022/11/15/thilans-speech-is-one-of-the-best-on-economics-if-reasons-were-included/
• Since 1970, more than 50 budgets have been presented annually – Kussi Amma Feisal
‘details including assets of 52 institutions strategically important for the economy, little data is available (particularly accounts and net assets) of another 400-odd SOEs. The important ones are those operating in power, energy, finance and insurance, water, aviation, health and education, among others. These include the Bank of Ceylon, People’s Bank, Sri Lanka Insurance Corporation Ltd, Ceylon Electricity Board (CEB), Ceylon Petroleum Corporation (CPC), Sri Lanka Ports Authority, SriLankan Airlines, Sri Lanka Transport Board and State Pharmaceuticals Corporation. At present, 287 SOEs are being monitored by the Finance Ministry’s Department of Public Enterprises (PED) and the rest come under the purview of the Department of National Budget (NBD)…These institutions may be sitting on land and other assets worth billions of rupees…’
– sundaytimes.lk/221113/business-times/midnight-gazettes-501420.html
• Jetwing’s Hiran wants corporate sector to break free from “what’s in it for me” attitude
– dailymirror.lk/business-news/Hiran-wants-corporate-sector-to-break-free-from-whats-in-it-for-me-attitude/273-248810
• Do we have a Mahathir Mohamed to save the country out of the current economic crisis?
– ft.lk/columns/Economic-bankruptcy-and-political-instability-Inevitably-denting-Sri-Lanka-s-independence/4-742118
• Presidential directive issued to implement Singapore-Sri Lanka FTA immediately
– timesonline.lk/news-online/Presidential-directive-issued-to-implement-Singapore-Sri-Lanka-FTA-immediately/2-1139623
– ft.lk/front-page/President-directs-immediate-implementation-of-FTA-with-Singapore/44-742054
– island.lk/prez-wants-free-trade-pact-with-singapore-inked/
• Has UNP-SLPP forgotten why the SLSFTA had to be shelved about four years ago?
– island.lk/festina-lente/
• China Development Bank (CDB) delegation on visit to Sri Lanka, discusses debt-related issues
– adaderana.lk/news/86204/cdb-delegation-on-visit-to-sri-lanka-discusses-debt-related-issues
– dailymirror.lk/business-news/China-Development-Bank-team-in-town-for-talks/273-248808
– island.lk/china-development-bank-team-here-to-discuss-debt-related-issues/
• Sri Lanka govt takes over $1.7bn in debt owed to China
– lankaweb.com/news/items/2022/11/15/sri-lanka-govt-takes-over-1-7bn-in-debt-owed-to-china/
– dailymirror.lk/business-news/Sri-Lanka-govt-takes-over-US-1-7bn-in-debt-owed-to-China/273-248727
• From project financing to debt restructuring: China’s role in Sri Lanka’s debt situation: Moramudali, Panduwawala
– island.lk/settling-down-betty-boothroyd-and-boris-becker/
• Chinese Central Bank official calls for balanced approach to debt crisis
– pandapawdragonclaw.blog/2022/11/15/bri-notebook-chinese-central-bank-official-calls-for-balanced-approach-to-debt-crisis/
• China asks PM to introduce legal reforms to clear way for investment
– island.lk/china-asks-pm-to-introduce-legal-reforms-to-clear-way-for-investment/
• ‘China’s stand may deprive Sri Lanka of USD 2.9 bn from IMF in early 2023’ – USAID
Saravanamuttu
– island.lk/chinas-stand-may-deprive-sri-lanka-of-usd-2-9-bn-from-imf-in-early-2023/
• Treasury requests ‘financial assurance’ from visiting Chinese Development Bank
– themorning.lk/treasury-requests-financial-assurance-from-visiting-chinese-development-bank/
• China working with other lenders on ‘easing’ Sri Lanka debt
– economynext.com/china-working-with-other-lenders-on-easing-sri-lanka-debt-103446/
• Bangladesh not at risk of Sri Lanka-like crisis
‘Hans Timmer, chief economist of the World Bank for South Asia, considers Sri Lanka as a special case where it has a lot of foreign debts that it can’t service.’
– thedailystar.net/business/economy/news/bangladesh-not-risk-sri-lanka-crisis-3004616
• Sri Lanka President recalls Vietnam, as export powerhouse’s reserves tumble
– economynext.com/sri-lanka-president-recalls-vietnam-as-export-powerhouses-reserves-tumble-103152/
• Of that apple-papol tussle
– island.lk/of-that-apple-papol-tussle/
• Algeria cancels interests on Cuba’s debts, postpones their payment
‘”We agreed to produce medicines together, especially serums and vaccines related to African and non-African diseases,” the Algerian president added.’
– english.almayadeen.net/news/politics/algeria-cancels-interests-on-cubas-debts-postpones-their-pay
• UN official warns more than 50 poor countries in danger of bankruptcy
– radiohc.cu/en/noticias/internacionales/304796-un-official-warns-more-than-50-poor-countries-in-danger-of-bankruptcy
• Dishonest Economics is Neoliberal Era’s Hallmark – P Patnaik
– newsclick.in/Dishonest-Economics-Neoliberal-Era-Hallmark
• A few brief remarks regarding the course of my study of political economy (1859) – Karl Marx
– redsails.org/preface-to-the-critique/
• Japanese Discourses on the Marxian Theory of Finance
– link.springer.com/book/10.1007/978-3-030-83324-4
• Social Democracy Will Not Save Us: Liberalism is a dead end; socialism is the only tool
‘In 1896, Eduard Bernstein, the leading theoretician of social democracy, wrote that the 2nd or Socialist International should adopt a pro-colonial policy.’
– blackagendareport.com/social-democracy-will-not-save-us
• Historical Materialism Conference – monopoly, imperialism, inflation and Ukraine – Roberts
‘US imperialism is out to ensure that China does not catch up.’
– thenextrecession.wordpress.com/2022/11/16/historical-materialism-conference-monopoly-imperialism-inflation-and-ukraine/
• The Rentier Economy is a Free Lunch – Hudson
– michael-hudson.com/2022/11/the-rentier-economy-is-a-free-lunch/
• Hudson: A New Bipolar World. US finance capitalism vs. China’s mixed public/ private economy
– youtube.com/watch?v=E_zY44YClCY
• Nomi Prins on the Distorted US Financial System
‘A former Goldman Sachs director speaks on the distorted US financial system and its social effects.’
– lankaweb.com/news/items/2022/11/18/economic-update-nomi-prins-on-the-distorted-us-financial-system/
• You’re Living in a World Wrought by Central Banks. Notice Anything Wrong?
‘central banks effectively manufacture money, and this money, just by sheer mass momentum and the players involved, goes disproportionately to financial markets relative to the real economy.’
– nakedcapitalism.com/2022/11/youre-living-in-a-world-wrought-by-central-banks-notice-anything-wrong.html
• Prosecution Futures – The Downfall Of FTX And Everything Crypto
– moonofalabama.org/2022/11/prosecution-futures-the-downfall-of-ftx-and-everything-crypto
• The Myth Of The “Self-Made” Billionaire
– youtube.com/watch?v=316nOvHUS8A
• Money Printing Madness
‘the damaging policies of central banks are based upon centuries-old economic misconceptions which keep ravaging the markets and hurting the economy via boom-bust cycles.
– https://www.youtube.com/watch?v=0Nccb3R-GHs&ab_channel=DanAstin-Gregory
____________________________________________
C4. Economy (Usually reported in monetary terms)
ee Economy section shows how media usually measures economy by false indices like GDP, etc., in monetary terms, confusing money and capital, constantly calling for privatization, deregulation, moaning about debt & balance of payments, without stating the need for modern industrial production.
• Investors relieved with no wealth, capital gains tax in Budget 2023
– themorning.lk/investors-relieved-with-no-wealth-capital-gains-tax-in-budget-2023/
• Ceylon Chamber says Budget in right direction but stresses implementation is key to success
– ft.lk/front-page/Ceylon-Chamber-says-Budget-in-right-direction-but-stresses-implementation-is-key-to-success/44-741989
• Sri Lanka’s economy to shrink by 9.2 % this year
– sundaytimes.lk/221113/business-times/sri-lankas-economy-to-shrink-by-9-2-this-year-501390.html
• CBSL Governor expects inflation to reach 4-5% by end of next year
– adaderana.lk/news/86209/cbsl-governor-expects-inflation-to-reach-4-5-by-end-of-next-year
• Sri Lanka tax revenues surge 38-pct to August 22 as economy inflates, budget deficit down
– economynext.com/sri-lanka-tax-revenues-surge-38-pct-to-august-22-as-economy-inflates-budget-deficit-down-103312/
• Fuel, tobacco and cigarettes taxes up in Budget 2023
‘With the budget designed under an IMF-framework (aimed at securing the bail-out package), focus would be also on restructuring State-Owned Enterprises (SoEs) and a privatisation drive that hopes to raise foreign reserves by US$ 2-3 billion. These include Ceylon Electricity Board, the Ceylon Petroleum Corporation including Sapugaskanda oil refinery, national carrier SriLankan Airlines and SL Transport Board.
– sundaytimes.lk/221113/business-times/fuel-tobacco-and-cigarettes-taxes-up-in-budget-2023-501437.html
• CESS levy imposed over 600 items amended from Nov.15
– dailymirror.lk/breaking_news/CESS-levy-imposed-over-600-items-amended-from-Nov-15/108-248704
• Govt. has unpaid bills of about Rs. 200 billion – Finance Secretary
‘the government has come up with revenue and tax policies because it is unable to pay those bills.’
– lankaweb.com/news/items/2022/11/15/govt-has-unpaid-bills-of-about-rs-200-billion-finance-secretary/
• Govt owns 420 institutions including 29 Ministries, 99 Departments
‘The government also operates 25 District Secretariats, 9 provincial councils, 341 Divisional Secretariats and 341 local government bodies’
– english.newsfirst.lk/2022/11/17/govt-owns-420-institutions-including-29-ministries-99-departments
• New agency to replace BOI, EDB: 2023 Budget presentation
‘Restructuring of SOEs: Initially, measures will be taken to restructure Sri Lankan Airlines, Sri Lanka Telecom, Colombo Hilton, Waters Edge and Sri Lanka Insurance Corporation (SLIC) along with its subsidiaries, the proceeds of which will be used to strengthen foreign exchange reserves of the country, and strengthening the Rupee.’
– timesonline.lk/news-online/New-agency-to-replace-BOI-EDB-2023-Budget-presentation/2-1139562
– timesonline.lk/news-online/Budget-Highlights-2023/2-1139564
• VAT exemptions to be rationalised; new Act coming
– ft.lk/front-page/VAT-exemptions-to-be-rationalised-new-Act-coming/44-742068
• Mexico faces risk from major U.S. economic slowdown
– radiohc.cu/en/noticias/internacionales/305311-mexico-faces-risk-from-major-us-economic-slowdown
_________________________________________________________________________
C5. Workers (Inadequate Stats, Wasteful Transport, Unmodern Plantations, Services)
ee Workers attempts to correct the massive gaps and disinformation about workers, urban and rural and their representatives (trade unions, etc), and to highlight the need for organized worker power
• President envisages unilateral ‘restructuring’ of state enterprises and labour laws
– ft.lk/columns/Ranil-s-Big-Bang-Budget-bomb-and-the-tempting-of-Tamil-politicians/4-742022
• Youth unrest a ticking time bomb, warns Dr. Godahewa
– ft.lk/front-page/Youth-unrest-a-ticking-time-bomb-warns-Dr-Godahewa/44-742066
• Hospital patients being made to buy their drugs from private pharmacies
– themorning.lk/hospital-patients-being-made-to-buy-their-drugs-from-private-pharmacies/
• GMOA wants Health Ministry to get cracking with 2023 budget allocation to end severe drug shortage
– island.lk/gmoa-wants-health-ministry-officials-to-get-cracking-with-2023-budget-allocation-to-end-severe-drug-shortage/
• Govt. accused of trying to expand state service
– island.lk/govt-accused-of-trying-to-expand-state-service/
• Outlook for Sri Lanka’s retail sector increasingly bleak
‘“The local retail sector accounts for more than 30% of the national GDP and 14% of direct employment in the work force. Over 10% percent of households depend on employment in the retail sector. A large section in this sector includes sales, cashiers, and lower mid-segment jobs,’
– island.lk/outlook-for-sri-lankas-retail-sector-increasingly-bleak/
• UN: Cost of living crunch threatens to sink millions of Lankans already facing hard choices
– island.lk/un-cost-of-living-crunch-threatens-to-sink-millions-of-lankans-already-facing-hard-choices/
• Govt. needs to actively address women’s issues stemming from unpaid care: IPS
– dailymirror.lk/business-news/Govt-needs-to-actively-address-womens-issues-stemming-from-unpaid-care-IPS/273-248807
• Rising School Dropouts: The Plight of Estate Children in Sri Lanka
– island.lk/rising-school-dropouts-the-plight-of-estate-children-in-sri-lanka/
• Estate sector needs more income-generating avenues to keep children in school: IPS
– dailymirror.lk/breaking_news/Estate-sector-needs-more-income-generating-avenues-to-keep-children-in-school-IPS/108-248898
• Offering at Colombo Tea Auction dips due to work stoppage for Deepavali
– dailymirror.lk/business-news/Offering-at-Colombo-Tea-Auction-dips-due-to-work-stoppage-for-Deepavali/273-248895
• Parliamentary Caucus for Children stresses need to fill 284 vacancies at NCPA
– island.lk/parliamentary-caucus-for-children-stresses-need-to-fill-284-vacancies-at-ncpa/
• Sri Lanka minister aims ambitious $1 bln monthly remittance by 2023
– economynext.com/sri-lanka-minister-aims-ambitious-1-bln-monthly-remittance-by-2023-103425/
• Migration can boost South Asia’s recovery– World Bank
– island.lk/migration-can-boost-south-asias-recovery-world-bank/
• Stranded Overseas: Sri Lankan women expose abuse by embassy official
– english.newsfirst.lk/2022/11/18/stranded-overseas-sri-lankan-women-expose-abuse-by-embassy-official
• 90 SL domestic aides stranded in Oman
– dailymirror.lk/breaking_news/90-SL-domestic-aides-stranded-in-Oman/108-248795
• Suspected human trafficking racket exposed
– dailymirror.lk/breaking_news/Suspected-human-trafficking-racket-exposed/108-248736
• Island-wide operations to arrest human traffickers
– timesonline.lk/news-online/Island-wide-operations-to-arrest-human-traffickers/2-1139628
• Raids on human traffickers, punish offenders irrespective of ranks
– dailymirror.lk/breaking_news/Raids-on-human-traffickers-punish-offenders-irrespective-of-ranks/108-248709
• Trafficking women to ME; matter to be discussed in cabinet
– dailymirror.lk/breaking_news/Trafficking-women-to-ME-matter-to-be-discussed-in-cabinet/108-248777
• CID probing ‘auctioning’ of Sri Lankan female domestic workers in Oman
– adaderana.lk/news/86232/cid-probing-auctioning-of-sri-lankan-female-domestic-workers-in-oman
• Main suspect arrested over trafficking Sri Lankan women to Middle East remanded
– adaderana.lk/news/86243/main-suspect-arrested-over-trafficking-sri-lankan-women-to-middle-east-remanded
• Stalin assures housing for Sri Lankan returnees
– dailymirror.lk/breaking_news/Stalin-assures-housing-for-Sri-Lankan-returnees/108-248737
• England to send SL asylum seekers from Diego Garcia to Rwanda for medical treatment
– lankaweb.com/news/items/2022/11/15/britain-to-send-sri-lankan-asylum-seekers-to-rwanda-for-medical-treatment/
• Police to probe imposters of fake MP involved in racket sending persons for jobs in Korea
– sundaytimes.lk/221113/news/police-to-probe-imposters-of-fake-mp-501841.html
• Lankans’ attempt to fly out to UK with forged visas foiled
– dailymirror.lk/breaking_news/Lankans-attempt-to-fly-out-to-UK-with-forged-visas-foiled/108-248788
• Three Lankans rescued from Male garage fire
– island.lk/three-lankans-rescued-from-male-garage-fire/
• Lankan refugees in Vietnam appeal: “Don’t send us back home”
– island.lk/lankan-refugees-in-vietnam-appeal-dont-send-us-back-home/
• IOM provides assistance to 303 illegal migrants rescued off coast of Vietnam
– island.lk/iom-provides-assistance-to-303-illegal-migrants-rescued-off-coast-of-vietnam/
• Middle class Sri Lankans forced to migrate due to proposed new income tax policy?
– island.lk/middle-class-sri-lankans-forced-to-migrate-due-to-proposed-new-income-tax-policy/
• ‘Big Tech is Using Globalised Contractual Labour to Avoid Litigation’
‘Overwork without overtime pay, weekend work, harassment by managers, mass layoffs, illegal retrenchments, employment bonds and forced resignations are some such issues faced by tech workers. The All India IT and ITES Employees Union (AIITEU) has been trying to highlight these issues. However, nudging people to join a union has proved to be easier said than done.’
– newsclick.in/big-tech-using-globalised-contractual-labour-avoid-litigation
• Western science and Monastic education
– kalaya.org/2022/11/blog-post_18.html
• Why English?
‘In Sri Lanka, five decades ago, in 1957, the medium of instruction of science subjects was switched from English to Swabhasha. Almost 100% of the present scientific professionals, who were undergraduates in the post –1960 era, studied G.C.E. A/L science in Swabhasha, and subsequently in the English medium at the university. A large number of them went abroad…’
– island.lk/why-english/
• Lanka Hospitals School of Nursing holds its first graduation ceremony
‘Each year the school trains around 60 nurses, with an English language curriculum’
– island.lk/lanka-hospitals-school-of-nursing-holds-its-first-graduation-ceremony/
• Students’ insurance scheme slashed and restricted to low-income families
– sundaytimes.lk/221113/news/students-insurance-scheme-slashed-and-restricted-to-low-income-families-501843.html
• JAAF collaborates with IFC on industry training on Respectful Workplaces
– bizenglish.adaderana.lk/jaaf-collaborates-with-ifc-on-industry-training-on-respectful-workplaces/
• SL’s apparel sector steps up efforts to tackle workplace bullying
– dailymirror.lk/business-news/SLs-apparel-sector-steps-up-efforts-to-tackle-workplace-bullying/273-248891
• Sri Lanka sees dearth of fashion designers amid economic crisis
– economynext.com/sri-lanka-sees-dearth-of-fashion-designers-amid-economic-crisis-103427/
• Law Students’ Association of Sri Lanka Launches USAID-funded Internship Programme
– dailymirror.lk/news-features/LAW-STUDENTS-ASSOCIATION-OF-SRI-LANKA-LAUNCHES-INTERNSHIP-PROGRAMME/131-248657
• How is Sri Lanka’s youth dealing with the economic crisis? (May)
‘Adnan Abbasi, Tejashree Murugan and Vaishnavi Chandrasekar are writing fellows with the Fellowship for Freedom in India’.
– thedailystar.net/views/opinion/news/how-sri-lankas-youth-dealing-the-economic-crisis-3027381
• CINEC Campus holds its third research symposium
– island.lk/cinec-campus-holds-its-third-research-symposium/
• 8th Conference of the South Asian Association of Physiologists
‘The PSSL was founded in 1987 and in 2008, joined hands with the main Physiological Societies of India, Pakistan, Bangladesh and Nepal in establishing SAAP.’
– sundaytimes.lk/221113/news/8th-conference-of-the-south-asian-association-of-physiologists-on-this-weekend-2-501820.html
• Education centre directors remanded for defrauding Rs. 3 bn
– themorning.lk/education-centre-directors-remanded-for-defrauding-rs-3-bn/
• Ceylon Chamber partners with ILO to encourage youth to pursue entrepreneurship
– themorning.lk/ceylon-chamber-partners-with-ilo-to-encourage-youth-to-pursue-entrepreneurship/
• Organisation of Professional Associations (OPA) gets its first woman President
– ft.lk/front-page/OPA-gets-its-first-woman-President/44-742064
• Airline Pilots’ Guild joins Gammadda to quench the thirst of underprivileged school
– english.newsfirst.lk/2022/11/18/airline-pilots-guild-joins-gammadda-to-quench-the-thirst-of-underprivileged-school
• Draft Indian Ports Bill 2022 – ‘It’s Against Interest of Workers and States’
– newsclick.in/draft-indian-ports-bill-2022-its-against-interest-workers-and-states
• World population to reach 8 Bn tomorrow (15), says UN Report
– island.lk/world-population-to-reach-8-bn-tomorrow-15-says-un-report/
• 8 billion people, 8 billion opportunities – United Nations Population Fund (UNFPA)
– island.lk/8-billion-people-8-billion-opportunities/
• Organizing Under and Against Apartheid: The New Unions in Palestine
– socialistproject.ca/2022/11/organizing-under-and-against-apartheid/
• (After) Neoliberalism? Rethinking the Return of the State
– developingeconomics.org/2022/01/10/after-neoliberalism-rethinking-the-return-of-the-state
• Dominican Human Rights defenders condemn mass deportations of Haitians
– radiohc.cu/en/noticias/internacionales/305127-human-rights-defenders-condemn-mass-deportations-of-haitians
– blackagendareport.com/statement-and-petition-against-inhumane-deportation-haitian-migrants-dominican-republic
• Colombia’s Robert Daza, peasant leader
– alai.info/en/robert-daza-interview/
• Pandemic Lessons for Rebuilding Canada’s Welfare State
– socialistproject.ca/2022/11/pandemic-lessons-rebuilding-welfare-state/
• Mike Davis on becoming a Marxist
– alai.info/en/mike-davis-on-becoming-a-marxist/
• U.S. judge blocks Title 42, which has expelled 2 million migrants from the United States
– radiohc.cu/en/noticias/internacionales/305166-us-judge-blocks-title-42-which-has-expelled-2-million-migrants-from-the-united-states
– radiohc.cu/en/noticias/internacionales/305309-us-judge-gives-biden-administration-five-week-extension-to-end-title-42
• Major US cleaning company uses child labor on graveyard shifts at slaughterhouses
– radiohc.cu/en/noticias/internacionales/305167-tesla-construction-workers-describe-exploitative-and-dangerous-conditions-at-texas-site
• Tesla construction workers describe exploitative and dangerous conditions at Texas site
– radiohc.cu/en/noticias/internacionales/305167-tesla-construction-workers-describe-exploitative-and-dangerous-conditions-at-texas-site
• Elon Musk Issues Twitter Workers Ultimatum Amid Tesla Earnings Trial
– newsclick.in/Elon-Musk-Issues-Twitter-Ultimatum-Amid-Tesla-Earnings-Trial
• Elon Musk: Twitter closes offices until next week
– dailymirror.lk/breaking_news/Elon-Musk-Twitter-closes-offices-until-next-week/108-248804
• Twitter Steps on Musk Ultimatum Tripwire: Resignations Explode, Offices Closed
– newsclick.in/Twitter-Steps-Musk-Ultimatum-Tripwire-Resignations-Explode-Offices-Closed
• US: Amazon Begins Mass Layoffs Among its Corporate Ranks
– newsclick.in/us-amazon-begins-mass-layoffs-among-its-corporate-ranks
• Biden’s student loan debt relief plan has been declared unconstitutional
– blackagendareport.com/electoral-politics-subvert-peoples-needs
• English working class has lost its identity and has austerity and insecurity forced on it
– island.lk/lest-we-forget/
• EU cost of living protests become more widespread each day
– radiohc.cu/en/noticias/internacionales/305249-eu-cost-of-living-protests-become-more-widespread-each-day
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C6. Agriculture (Robbery of rural home market; Machines, if used, mainly imported)
ee Agriculture emphasizes the failure to industrialize an agriculture that keeps the cultivator impoverished under moneylender and merchant, and the need to develop the rural home market, monetization and commercialization, to produce, rather than import, agricultural machinery.
• Govt. placing Mahaweli lands under Divisional Secretaries: SLPP rebels see sinister move
– island.lk/govt-placing-mahaweli-lands-under-divisional-secretaries-slpp-rebels-see-sinister-move/
• Sri Lanka’s land acquisition law must be changed to modernise agriculture: president
– economynext.com/sri-lankas-land-acquisition-law-must-be-changed-to-modernise-agriculture-president-103452/
• Eight committees to be appointed at provincial level to resolve land issues
– adaderana.lk/news/86244/eight-committees-to-be-appointed-at-provincial-level-to-resolve-land-issues
• Sri Lanka exploring debt-to-nature swap deal up to US$ 1 billion: news report
‘In June, the United Nations Development Programme (UNDP) proposed to the Sri Lankan government to make use of debt-for-nature swaps’
– dailymirror.lk/business-news/Sri-Lanka-exploringdebt-to-nature-swap-deal-up-to-US-1-billion-news-report/273-248813
• Bankers bet billions on new wave of debt-for-nature deals
‘No planet, no business – that is what we need the IMFs of this world to understand’
– bizenglish.adaderana.lk/bankers-bet-billions-on-new-wave-of-debt-for-nature-deals/
• State land to be leased to boost agri-exports
– ft.lk/front-page/State-land-to-be-leased-to-boost-agri-exports/44-742144
• President to seek USA help to modernise agriculture
– ft.lk/front-page/President-to-seek-American-help-to-modernise-agriculture/44-742063
• Essential food items rise after budget
‘price of imported essential commodities including potatoes, Dhal, Pharm oil, Butter, Cheese & other essentials such as books, ball point pens, footwear, wrapping papers & tyres etc will be increased. ‘
– timesonline.lk/news-online/Essential-food-items-rise-after-budget/2-1139608
• Former COPE Chairman: Budget will facilitate land grabs
– island.lk/former-cope-chairman-budget-will-facilitate-land-grabs/
• Trader Exploitation of Cultivators: A Major Cause of Inflation
– island.lk/trader-exploitation-of-cultivators-a-major-cause-of-inflation/
• Cargills revenue of Rs. 97,181 million for the 1st half of the year
‘Local production can meet basic needs’
– sundaytimes.lk/221113/business-times/local-production-can-meet-basic-needs-cargills-501396.html
• Lanka to learn from China new ways to increase rice production
– lankaweb.com/news/items/2022/11/15/lanka-to-learn-from-china-new-ways-to-increase-rice-production/
• Chinese rice donation arrives in Colombo
– dailymirror.lk/breaking_news/Chinese-rice-donation-arrives-in-Colombo/108-248911
• Sri Lanka warned against smuggled agro-chemicals: Croplife Sri Lanka
‘CropLife SL is a member of CropLife Asia, one of 6 regional associations of CropLife International formed by a consortium of agricultural input importers registered with the Department of Agriculture’
– economynext.com/sri-lanka-warned-against-smuggled-agro-chemicals-103284
• FAO delivers 780.1 MT of urea for farmers in poverty stricken districts
– island.lk/fao-delivers-780-1-mt-of-urea-for-farmers-in-poverty-stricken-districts/
• 41,876 MT of Canadian Muriate of Potash (MoP) fertilizer to reach Colombo on Dec. 2
– dailymirror.lk/breaking_news/41-876-MT-of-MoP-to-reach-Colombo-on-Dec-2/108-248820
• Coconut production to drop owing to high fertiliser costs
– sundaytimes.lk/221113/business-times/coconut-production-to-drop-owing-to-high-fertiliser-costs-501409.html
• Rajitha appreciates budget proposal to cultivate Cannabis
– dailymirror.lk/breaking_news/Rajitha-appreciates-budget-proposal-to-cultivate-Cannabis/108-248913
• Food and Agriculture Organization says global food import bill to jump to record $1.9 trillion
– radiohc.cu/en/noticias/internacionales/304798-food-and-agriculture-organization-says-global-food-import-bill-to-jump-to-record-19-trillion
• Food security during economic insecurity and instability
– ft.lk/columns/Food-security-during-economic-insecurity-and-instability/4-742010
• INSEE Cement Sri Lanka signs MoU with IUCN for biodiversity projects
– island.lk/insee-cement-sri-lanka-signs-mou-with-iucn-for-biodiversity-projects/
• X-Press Pearl disaster: Ship captain, local agent and six others indicted
– sundaytimes.lk/221113/news/x-press-pearl-disaster-ship-captain-local-agent-and-six-others-indicted-501822.html
• X-Press Pearl disaster compensation: Time running out – Experts
– island.lk/x-press-pearl-disaster-compensation-time-running-out-experts/
• Who’s pocketing the compensation from X-Press Pearl accident?
– dailymirror.lk/opinion/Whos-pocketing-the-compensation-from-X-Press-Pearl-accident/172-248352
• Human – Elephant Peace:
– island.lk/human-elephant-peace/
• Another forest reserve to be raped
– island.lk/another-forest-reserve-to-be-raped/
• White Elephant expert speaks on Bostwana’s elephants
– sundaytimes.lk/221113/plus/elephant-expert-speaks-on-bostwanas-elephants-501373.html
• New elephant census next year
– island.lk/new-elephant-census-next-year/
• Against Wildlife Republics: Conservation and Imperialist Expansion in Africa
– blackagendareport.com/against-wildlife-republics-conservation-and-imperialist-expansion-africa
• India at 75: Melting glaciers, heatwaves and climate crisis
– sundaytimes.lk/221113/sunday-times-2/india-at-75-melting-glaciers-heatwaves-and-climate-crisis-501610.html
• G-77 demand reparation on eco “loss and damage” of billions of US dollars
– sundaytimes.lk/221113/editorial/budget-2023-tax-political-parties-and-follow-the-money-trail-501763.html
• West’s Militaristic Agenda has Hijacked G20
– newsclick.in/wests-militaristic-agenda-has-hijacked-g20
• Making a reality of G-20 theme
– island.lk/making-a-reality-of-g-20-theme/
• Nairobi Manifesto 1985: African women tried to warn us about a world in crisis. Did we listen?
– blackagendareport.com/manifesto-nairobi-manifesto-1985
• Migration and Climate Emergency in North Africa
– blackagendareport.com/migration-and-climate-emergency-north-africa
• COP27 Deliberations Reaffirm Imperialist States as Main Obstacle to Ending Climate Change
– blackagendareport.com/cop27-deliberations-reaffirm-imperialist-states-main-obstacle-ending-climate-change
• ‘Threat multiplier’: How climate change affects people’s health
– sundaytimes.lk/221113/sunday-times-2/threat-multiplier-how-climate-change-affects-peoples-health-501613.html
• We 8 Billions, Their $215 Trillion
– socialistproject.ca/2022/11/we-8-billions-their-215-trillion/
• The US is Evading its Responsibility on Climate Change
– newsclick.in/us-evading-its-responsibility-climate-change
• Food prices hit record highs in Spain amid worsening cost of living crisis
– radiohc.cu/en/noticias/internacionales/305126-food-prices-hit-record-highs-in-spain-amid-worsening-cost-of-living-crisis
_____________________________________________________________________
C7. Industry (False definitions, anti-industrial sermons, rentier/entrepreneur, etc)
ee Industry notes the ignorance about industrialization (versus handicraft and manufacture), the dependence on importing foreign machinery, the need to make machines that make machines, build a producer culture. False definitions of industry, entrepreneur, etc, abound, and the need for a holistic political, economic and military strategy to overcome domination by merchants and moneylenders.
• Nearly 60% power price hike next year?
– sundaytimes.lk/221113/business-times/nearly-60-power-price-hike-next-year-501430.html
• Indian Oil’s women executives visit SL
– dailymirror.lk/business-news/Indian-Oils-women-executives-visit-SL/273-248892
• Now, CEB demands fuel subsidy from Treasury
– island.lk/now-ceb-demands-fuel-subsidy-from-treasury/
• CEB agrees to grant concession to religious places
– themorning.lk/ceb-agrees-to-grant-concession-to-religious-places/
• Sri Lanka surtax on fuel imports to recover Rs700bn monetary instability loan
– economynext.com/sri-lanka-surtax-on-fuel-imports-to-recover-rs700bn-monetary-instability-loan-103044/
• Sapugaskanda oil refinery to resume operations after settling crude oil issue
– timesonline.lk/news-online/Sapugaskanda-oil-refinery-to-resume-operations-after-settling-crude-oil-issue/2-1139560
• Qatari investor loses $3 m investment in Sri Lanka energy firm
– sundaytimes.lk/221113/business-times/qatari-investor-loses-3-m-investment-in-sri-lanka-energy-firm-501424.html
• World Bank eyes huge offshore wind potential in Sri Lanka
– lankaweb.com/news/items/2022/11/18/world-bank-eyes-huge-offshore-wind-potential-in-sri-lanka/
• OQ Trading ousts Siam Gas in latest LP tender
– sundaytimes.lk/221113/business-times/oq-trading-ousts-siam-gas-in-latest-lp-tender-501427.html
• Sri Lanka’s Laugfs sells Bangladesh unit
– economynext.com/sri-lankas-laugfs-sells-bangladesh-unit-103106/
– ft.lk/front-page/LAUGFS-exits-LPG-retail-business-in-Bangladesh-with-23-4-m-cash/44-742055
• Court of Appeal upholds High Court ruling on shipping dispute involving Ceylon Petroleum Corporation (CPC)
– sundaytimes.lk/221113/news/court-of-appeal-upholds-high-court-ruling-on-shipping-dispute-involving-cpc-501830.html
• CEB incurs massive loss of over Rs 44 bln in 3Q 2022
– timesonline.lk/news-online/CEB-incurs-massive-loss-of-over-Rs-44-bln-in-3Q-2022/2-1139627
• Railway Dept: 45 derailments this year alone!
– dailymirror.lk/breaking_news/Railway-Dept-45-derailments-this-year-alone/108-248778
• Railway services on costal line between Colpetty & Slave Island disrupted due to broken bridge
– timesonline.lk/news-online/Train-service-disrupted-today/2-1139637
– dailymirror.lk/breaking_news/Train-services-on-coastal-line-delayed-for-five-days-Railways-Dept/108-248782
• Train collides with a cab, two injured
– dailymirror.lk/breaking_news/Train-collides-with-a-cab-two-injured/108-248850
• Derailments increase due to neglect of railway tracks
– island.lk/derailments-increase-due-to-neglect-of-railway-tracks/
• Sri Lanka 2023 budget proposes logistic hubs to boost trade
– economynext.com/sri-lanka-2023-budget-proposes-logistic-hubs-to-boost-trade-103123/
• ‘Logistics & Shipping Industries Must be Liberalised’
– lankaweb.com/news/items/2022/11/15/logistics-and-shipping-industries-must-be-liberalised/
• SAGT introduces fleet of Inter Terminal trucks to Colombo Port to boost efficiency
– island.lk/sagt-introduces-fleet-of-inter-terminal-trucks-to-colombo-port-to-boost-efficiency/
• SLT-MOBITEL over nine million customers across fixed and mobile ICT services
– island.lk/slt-mobitel-enterprise-fuels-businesses-with-the-power-of-fixed-and-mobile-solutions/
• CB Governor: Constructions costs kept unconscionably hight
– island.lk/cb-governor-constructions-costs-kept-unconscionably-hight/
• Hospital patients being made to buy their drugs from private pharmacies
– themorning.lk/hospital-patients-being-made-to-buy-their-drugs-from-private-pharmacies/
• Steps taken to get 130 types of essential drugs currently in short supply
– dailymirror.lk/breaking_news/Steps-taken-to-get-130-types-of-essential-drugs-currently-in-short-supply/108-248907
• Al-Futtaim’s AMW restructures operation, reduces locations across Sri Lanka
‘maintain brand partnerships with Nissan, Suzuki, Yamaha, Renault and New Holland’
– sundaytimes.lk/221113/business-times/amw-restructures-operation-reduces-locations-across-sri-lanka-501393.html
• Beautician, two businessmen arrested for threatening Motor Traffic auditor
– dailymirror.lk/breaking_news/Beautician-two-businessmen-arrested-for-threatening-Motor-Traffic-auditor/108-248910
• Many companies engage in selling and importing industrial electrical equipment
– sundaytimes.lk/221113/business-times/everbolt-engineering-iso-9001-2015-certification-501402.html
• Difficulty importing fabric pushes designers to look at craftsmanship and innovation
– sundaytimes.lk/221113/plus/luxury-edition-to-add-glamour-to-cfw-501369.html
• Price of school stationery skyrocketed as a result of CESS – Opposition
– dailymirror.lk/breaking_news/Price-of-school-stationery-skyrocketed-as-a-result-of-CESS-Opposition/108-248802
• Finance State Minister’s clarification regarding CESS tax on stationery items
– adaderana.lk/news/86240/finance-state-ministers-clarification-regarding-cess-tax-on-stationery-items
• The Biotech Market
– gammiris.lk/the-biotech-market/
• Germany ‘rolling over for enemies of free world’ after Red China buys up stake in Hamburg Port
– island.lk/germany-rolling-over-for-enemies-of-free-world-after-red-china-buys-up-stake-in-hamburg-port/
• 5G+AI to assist smart, safe mining
– dailymirror.lk/business/5G-AI-to-assist-smart-safe-mining/215-248786
• Europe wants to turn Africa into its gas station
‘We have 600 million people in Africa who don’t have access to electricity at all. We have over 900 million people in Africa who do not have access to the modern forms of energy for cooking or domestic heating…No progress can be made in any society without energy.’
– radiohc.cu/en/noticias/internacionales/304950-europe-wants-to-turn-africa-into-its-gas-station
• Vladimir Putin Meeting with President of Russian Academy of Sciences Gennady Krasnikov
– en.kremlin.ru/events/president/news/69824
• Ukraine’s Shadowy Kamikaze Drone Boats Officially Break Cover
– thedrive.com/the-war-zone/ukraines-shadowy-kamikaze-drone-boats-officially-break-cover
______________________________________________________________________
C8. Finance (Making money from money, banks, lack of investment in modernity)
ee Finance tracks the effects of financialization, the curious role of ratings agencies, false indices, etc., and the rule of moneylenders, preventing investment in modern production.
• Listed firms file FR against withdrawal of CSE tax benefit
– themorning.lk/listed-firms-file-fr-against-withdrawal-of-cse-tax-benefit/
• Bank of Ceylon 9M22 net interest income Rs. 107.9 billion
– themorning.lk/bank-of-ceylon-records-rs-27-5-bn-pbt-for-9m22/
– ft.lk/front-page/Bank-of-Ceylon-reiterates-leadership-position-with-industry-leading-performance/44-741985
• Russel Fonseka to take over as BOC GM from mid-January 2023
– ft.lk/front-page/Russel-to-take-over-as-BOC-GM-from-mid-January-2023/44-741986
– island.lk/russel-fonseka-bocs-next-gm-ceo/
• Commercial Bank income of Rs. 195.573 billion for 9M22
– sundaytimes.lk/221113/business-times/healthy-profits-from-combank-but-impairment-costs-high-501399.html
• Hatton National Bank 9M22 interest income Rs 134.9 Bn
– island.lk/hnb-stands-strong-in-turbulent-times/
• Seylan Bank net Interest income Rs. 27,960 Million for nine months
– ft.lk/financial-services/Seylan-Bank-records-Rs-2-5-b-PAT-for-nine-months/42-741998
• NDB Wealth Management Money Fund grows with Rs. 35.8 b AUM
– ft.lk/financial-services/NDB-Wealth-Management-Money-Fund-grows-with-Rs-35-8-b-AUM/42-742001
• Amana Bank Financing Income grew by 44% to Rs. 8.09 billion (9M22)
– ft.lk/financial-services/Amana-Bank-demonstrates-stability-and-resilience/42-741999
• First Capital Holdings records Rs.823mn profit in first half
– dailymirror.lk/business-news/First-Capital-Holdings-records-Rs-823mn-profit-in-first-half/273-248728
• Thilini Priyamali case: CID questions Gnanasara Thera
– sundaytimes.lk/221113/news/thilini-priyamali-case-cid-questions-gnanasara-thera-501837.html
• Alleged Thilini Priyamali misappropriation estimated at Rs.1.3 billion
– dailymirror.lk/breaking_news/Alleged-misappropriation-estimated-at-Rs-1-3-billion/108-248707
• Sri Lanka injects Rs130bn outright amid high private sector sterilization (N15)
– economynext.com/sri-lanka-injects-rs130bn-outright-amid-high-private-sector-sterilization-103097/
• Money market shortfall decreases to over a one year low
– ft.lk/financial-services/Money-market-shortfall-decreases-to-over-a-one-year-low/42-741997
• Sri Lanka bond yields marginally down, rupee steady (N16)
– economynext.com/sri-lanka-bond-yields-marginally-down-rupee-steady-103136/
• Sri Lanka bond yields marginally down, rupee steady (N17)
– economynext.com/sri-lanka-bond-yields-marginally-down-rupee-steady-103308/
• Sri Lanka T-bond yield edge down; rupee peg, T-bill rates steady
– economynext.com/sri-lanka-t-bond-yield-edge-down-rupee-peg-t-bill-rates-steady-103422/
• Sri Lanka markets skeptical over state finmin’s domestic debt restructure comments
– economynext.com/sri-lanka-markets-skeptical-over-state-finmins-domestic-debt-restructure-comments-103250/
• Sri Lanka sells Rs80bn in bills, yields down (N16)
– economynext.com/sri-lanka-sells-rs80bn-in-bills-yields-down-103133/
• T-bill rates fall marginally
– dailymirror.lk/business-news/T-bill-rates-fall-marginally/273-248731
• No local cheer for Budget at CSE, foreigners bullish (N15)
– ft.lk/front-page/No-local-cheer-for-Budget-at-CSE-foreigners-bullish/44-741990
• Sri Lanka shares fall to near 3-1/2-month low; budget policy impacts weigh (N16)
– economynext.com/sri-lanka-shares-fall-to-near-3-1-2-month-low-budget-policy-impacts-weigh-103131/
• Sri Lanka stocks end down despite minister’s comments on local debt restructuring (N17)
– economynext.com/sri-lanka-stocks-end-down-despite-ministers-comments-on-local-debt-restructuring-103310/
• Sri Lanka shares fall in mid-day trade
– economynext.com/sri-lanka-shares-fall-in-mid-day-trade-103246/
• Huge buying interest in SLT stocks
– island.lk/huge-buying-interest-in-slt-stocks/
• Sri Lanka shares fall amid negative sentiment on budget policies
– economynext.com/sri-lanka-shares-fall-amid-negative-sentiment-on-budget-policies-103374/
• Stock market loses Rs. 145 b in value since Budget
– ft.lk/front-page/Stock-market-loses-Rs-145-b-in-value-since-Budget/44-742065
• Sri Lanka stocks at over 3-1/2 month low on indecisive stance on debt restructuring (N18)
– economynext.com/sri-lanka-stocks-at-over-3-1-2-month-low-on-indecisive-stance-on-debt-restructuring-103418/
• Stock market indices suffer over 7% dip
– ft.lk/front-page/Stock-market-indices-suffer-over-7-dip/44-742149
• FTX: New Ex-Enron CEO Finds ‘Complete Absence of Trustworthy Financial Information’
– nakedcapitalism.com/2022/11/ftx-new-ex-enron-ceo-finds-complete-absence-of-trustworthy-financial-information-3-3-billion-loans-to-sbf-customer-deposits-not-recorded-on-balance-sheets-confirms-software-backdoors-auto.html
• Big Law Firm, Sullivan & Cromwell, did Legal Work for Bankrupt Crypto Exchange, FTX
‘General Counsel of FTX.US, the FTX exchange serving customers in the U.S., is former Sullivan & Cromwell partner, Ryne Miller, who had previously served as legal counsel for the current SEC Chair, Gary Gensler, when Gensler was Chair of the Commodity Futures Trading Commission.’
– wallstreetonparade.com/2022/11/big-law-firm-sullivan-cromwell-did-significant-legal-work-for-bankrupt-crypto-exchange-ftx/
• The Latest Digital Token Scheme from Hell: New York Fed Teams Up with Citigroup and Sullivan & Cromwell
– wallstreetonparade.com/2022/11/the-latest-digital-token-scheme-from-hell-new-york-fed-teams-up-with-citigroup-and-sullivan-cromwell/
• FTX Was Creating Money Out of Thin Air Like the Fed; and Trading Its Own “Stock” Like the Wall Street Mega Banks in their Dark Pools
– wallstreetonparade.com/2022/11/ftx-was-creating-money-out-of-thin-air-like-the-fed-and-trading-its-own-stock-like-the-wall-street-mega-banks-in-their-dark-pools/
• This Is Where Bankrupt FTX’s Money Went: $74 Million for Caribbean Real Estate; $59 Million to Politicians; Tens of Millions to Big Law, Celebrity Endorsements…
– wallstreetonparade.com/2022/11/this-is-where-bankrupt-ftxs-money-went-74-million-for-caribbean-real-estate-59-million-to-politicians-tens-of-millions-to-big-law-celebrity-endorsements/
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C9. Business (Rentierism: money via imports, real-estate, tourism, insurance, fear, privatization)
ee Business focuses on the rentier diversions of the oligarchy, the domination by a merchant mafia, making money from unproductive land sales, tourism, insurance, advertising, etc. – the charade of corporate press releases disguised as ‘news’
• Behind The US Crypto Scam – ‘Complete Absence Of Trustworthy Financial Information’
– moonofalabama.org/2022/11/behind-the-crypto-scam-complete-absence-of-trustworthy-financial-information-.html
• Lanka Alzheimer’s Foundation (LAF) pre-Christmas sale
– sundaytimes.lk/221113/plus/pre-christmas-sale-by-laf-501342.html
• E.B. Creasy posts Rs. 1.3 billion PBT for FY22/23
– themorning.lk/b-creasy-posts-203-increase-in-pbt-for-fy22-23/
• Banking cooperation launched between SL & Russia for tourists
– lankaweb.com/news/items/2022/11/16/banking-cooperation-launched-between-sl-russia-for-tourists/
– ft.lk/front-page/Boost-for-Russian-tourist-inflow-via-banking/44-742056
• Blue Ocean Group buys 60% of Kelsey Developments for Rs. 257 m
‘ Schaffter brothers Prakash and Ramesh exit from 35-year-old real estate developer with over 200 projects… BO has Link Engineering, Blue Ocean Residencies, Link Ready Mix, Contessa, BO Travels, BO home appliances, BO Facility Management, Sisira Engineering and KBBS Campus, condominium projects, public & government projects such as hospitals & universities.’
– ft.lk/front-page/Blue-Ocean-Group-buys-60-of-Kelsey-Developments-for-Rs-257-m/44-741987
• Norwegian passenger liner docks at Colombo port
– dailymirror.lk/breaking_news/Norwegian-passenger-liner-docks-at-Colombo-port/108-248858
• Sri Lanka will be first tourism destination for Chinese “Spring Travel”
– ft.lk/front-page/Sri-Lanka-will-be-first-tourism-destination-for-Chinese-Spring-Travel/44-742145
• Investment agreement inked to develop water sports, entertainment zone at Lotus Tower
– adaderana.lk/news/86225/investment-agreement-inked-to-develop-water-sports-entertainment-zone-at-lotus-tower
• Alan Smee new CEO, Country Manager at Allianz Insurance Lanka
– ft.lk/financial-services/Alan-Smee-new-CEO-Country-Manager-at-Allianz-Insurance-Lanka/42-742000
• Exterminators net profit up by 120% in 2Q23
‘pest management and environmental technology company’
– dailymirror.lk/business-news/Exterminators-net-profit-up-by-120-in-2Q23/273-248893
• Arjuna ordered to pay Rs. 25 Mn in compensation to Thilanga
– adaderana.lk/news/86210/arjuna-ordered-to-pay-rs-25-mn-in-compensation-to-thilanga
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C10. Politics (Anti-parliament discourse, unelected constitution)
ee Politics points to the constant diversions and spectacles and the mercantile and financial forces funding the political actors, of policy hijacked by private interests minus public oversight.
• Why I didn’t vote for the 21st Amendment – Sarath Weerasekera,
‘What was the real reason behind this move? The government wants to fill these commissions including the Election Commission and Public Service Commission with people of their choice.’
– island.lk/why-i-didnt-vote-for-the-21st-amendment/
• Tight security for Parliament
– island.lk/tight-security-for-parliament/
• FSP says no election without a referendum
– themorning.lk/fsp-says-no-election-without-a-referendum/
• FSP Leader invites erstwhile comrades in JVP to join common front to topple govt
– island.lk/fsp-leader-invites-erstwhile-comrades-in-jvp-to-join-common-front-to-topple-govt/
• FSP accuses President of taking country on 1977 path to disaster
– island.lk/fsp-accuses-president-of-taking-country-on-1977-path-to-disaster/
• SJB wants all polls on same day as Govt.; resorts to delaying tactics
– ft.lk/news/SJB-wants-all-polls-on-same-day-as-Govt-resorts-to-delaying-tactics/56-742048
• Ranil’s ‘Big Bang’ Budget bomb and the tempting of Tamil politicians
‘Ranil is set to lease state lands to local corporates and multinational agribusiness, which would go completely against Premadasa’s Presidential Task Force (Sri Lanka’s first ever) on Land Redistribution (1990), which transferred the ownership of state lands to the landless and homeless for cultivation and construction of a dwelling.’
– ft.lk/columns/Ranil-s-Big-Bang-Budget-bomb-and-the-tempting-of-Tamil-politicians/4-742022
• Slush funds milk businessmen in village & city with favours returned by doctoring tenders
– sundaytimes.lk/221113/editorial/budget-2023-tax-political-parties-and-follow-the-money-trail-501763.html
• Millions spent on 9-member committee appointed to draft new constitution
– sundaytimes.lk/221113/news/millions-spent-on-9-member-committee-appointed-to-draft-new-constitution-501839.html
• Where is the Report of the Experts’ Committee on the new Constitution or the draft Constitution submitted by them to the President?
– lankaweb.com/news/items/2022/11/18/where-is-the-report-of-the-experts-committee-on-the-new-constitution-or-the-draft-constitution-submitted-by-them-to-the-president/
• Four SLPP MPs join SJB alliance
‘The SLPP group comprises Anura Priyadarshana Yapa, Chandima Weerakkody, Dr. Sudarshani Fernandopulle and Jayarathna Herath’
– timesonline.lk/news-online/Four-SLPP-MPs-join-SJB-alliance/2-1139563
• USA’s midterms, Sri Lanka’s post-term, and other distractions – Philips
– island.lk/americas-mid-term-sri-lankas-post-term-and-other-distractions/
• Civil society’s dependence on foreign patronage should not blind it to truths about their causes
– lankaweb.com/news/items/2022/11/15/why-civil-society-is-in-error-2/
• Dilan calls for legal reforms to stop family bandyism in Sri Lankan politics
– ft.lk/news/Dilan-calls-for-legal-reforms-to-stop-family-bandysm-in-Sri-Lankan-politics/56-742047
• CC appointments: March 12 Movement suggests a different way
– island.lk/cc-appointments-march-12-movement-suggests-a-different-way/
• Sudarshini remains independent
– island.lk/sudarshini-remains-independent/
• Opposition meets EC, demands early announcement of LG polls
– island.lk/opposition-meets-ec-demands-early-announcement-of-lg%e2%80%88polls/
• Counsel withdraws from Sashi Weerawansa’s forged Birth certificate case
– dailymirror.lk/breaking_news/Counsel-withdraws-from-Sashi-Weerawansas-forged-Birth-certificate-case/108-248853
• President calls on Atamasthanadhipathi Most Ven. Pallegama Hemarathana Nayaka Thero
– adaderana.lk/news/86230/president-calls-on-atamasthanadhipathi-most-ven-pallegama-hemarathana-nayaka-thero
• How England targeted US civil rights leader in covert campaign
– theguardian.com/world/2022/sep/13/revealed-how-uk-targeted-american-civil-rights-leader-stokely-carmichael-covert
• Bittersweet Freedom for dying US Political Prisoner Mutulu Shakur
– blackagendareport.com/bittersweet-freedom-mutulu-shakur
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C11. Media (Mis/Coverage of economics, technology, science and art)
ee Media shows how corporate media monopoly determines what is news, art, culture, etc. The media is part of the public relations (corporate propaganda) industry. The failure to highlight our priorities, the need to read between the lines. To set new perspectives and priorities.
• Scientification of Buddhism – Nalin de Silva
– kalaya.org/2022/11/blog-post_16.html
• The old Marxists had a certain humility. X had an inferiority complex – Nalin de Silva
– kalaya.org/2022/11/blog-post_64.html
• How did we become a lawless State? – Rajan Hoole
‘At the release of the book, Democracy Stillborn, with Devanesan Nesiah, Ahilan Kadirgamar, Swasthika Arulingam and Kirupaimalar Hoole. The meeting was chaired by Mahendran Thiruvarangan
– island.lk/how-did-we-become-a-lawless-state/
• How television came to Sri Lanka
‘The Japanese Ambassador here was Ochi who had been earlier an official of the Japanese Finance Ministry. Before that he had been an executive of the Nippon Electrical Company.’
– island.lk/how-television-came-to-sri-lanka/
• Reality TV stars involved in brawl at café; Star suffers head wounds
– dailymirror.lk/top_story/Reality-TV-stars-involved-in-brawl-at-caf%C3%A9-Star-suffers-head-wounds/155-248851
• Why were Theravadin not Philosophers?
– kalaya.org/2022/11/blog-post_15.html
• A Country Dominated by Western Ignorance – Nalin de Silva
‘There is a chain of organized actions to destroy the Sinhala Buddhist culture in the country, to insult it, to ridicule it.’
– kalaya.org/2022/11/blog-post_13.html
– kalaya.org/2022/11/blog-post_0.html
• Was Hegel an Authoritarian Thinker? Reading Hegel’s Philosophy of History on the Basis of his Metaphysics
– redsails.org/was-hegel-an-authoritarian-thinker/
• Journalist’s plaint against 2 police officers: AG refers to lack of respect for law enforcement, urges court to consider lawlessness
– sundaytimes.lk/221113/news/journalists-plaint-against-2-police-officers-ag-refers-to-lack-of-respect-for-law-enforcement-urges-court-to-consider-lawlessness-501835.html
• Lord Nelson Saloon is also one of the earliest in the country to imprint tattoos
– ft.lk/business/Of-a-trim-a-tattoo-and-a-tale-from-yesteryear/34-742023
• Chamber Music Society of Colombo (CMSC), Goethe-Institut, Norwegian Composers Society, Baurs and Tokyo Cement Co.
– sundaytimes.lk/221113/plus/trumpeting-the-sweeter-side-of-the-trumpet-501350.html
• Kings and infidels, cops and gangsters
– island.lk/kings-and-infidels-cops-and-gangsters/
• 2 Russian nationals charged with running e-book piracy website
– msn.com/en-us/travel/news/2-russian-nationals-charged-with-running-e-book-piracy-website/ar-AA14bZlx
• Conman FTX CEO, Yellen, Zelensky and Zuckerberg Will Speak at DealBook Summit
‘President Volodymyr Zelensky of Ukraine; Treasury Secretary Janet Yellen; Mark Zuckerberg, Meta’s co-founder, chairman and C.E.O.; Shou Chew, TikTok’s C.E.O.; Mike Pence, former vice president of the United States; Andy Jassy, Amazon’s C.E.O.; Reed Hastings, Netflix’s co-founder and co-C.E.O.; Mayor Eric Adams of New York; Larry Fink, BlackRock’s chairman and C.E.O.; Sam Bankman-Fried, FTX’s C.E.O.; and Priscilla Sims Brown, Amalgamated Bank’s C.E.O.’
– nytimes.com/2022/10/18/business/ukraine-zelensky-meta-zuckerberg-dealbook-summit-2022.html
• Delay, Diversify, Destroy
‘I think about how an unelected brown man from the Goldman Sachs caste is running England and an African-American is bombing Africa for America, and it all comes full circle. They’re diversifying this dumpster fire rather than putting it out.’
– indi.ca
• 1) Big Bang Baby: My First And Only Birth
– indi.ca
• The Blue Check Carnival On Twitter
– indi.ca
• Facebook’s Pivot To VR Has Failed
– indi.ca
• 1.1) My Astrology
– indi.ca
• Booker Prize and Dissecting “Seven Moons Of Maali Almeida”- Part II – “Second Moon”
– lankaweb.com/news/items/2022/11/15/booker-prize-and-dissecting-seven-moons-of-maali-almeida-part-ii-second-moon/
• “Seven Moons Of Maali Almeida” by Shehan Karunatilaka.
– lankaweb.com/news/items/2022/11/12/seven-moons-of-maali-almeida-by-shehan-karunatilaka/
• Unity against fake news
‘60 managing directors and senior editors of news agencies from 35 countries that are members to Organization of Asia-Pacific News Agencies (OANA). OANA was founded in 1961 by UNESCO.’
– lankaweb.com/news/items/2022/11/15/unity-against-fake-news/
• Drunk on Power: The Neo-Liberal Capture of South African Mediascape by US State Department
– commondreams.org/views/2022/08/04/drunk-power-neo-liberal-capture-south-african-mediascape-us-state-department
• Pan-African Institute of Socialism questions the objectivity of SA media
– youtube.com/watch?v=XEfxzTW1Wbs
• Left Anti-Communism: The Unkindest Cut by Michael Parenti
‘In the USA, for over a hundred years, the ruling interests tirelessly propagated anticommunism among the populace, until it became more like a religious orthodoxy than a political analysis.’
– cym.ie/2020/04/01/left-anti-communism-the-unkindest-cut-by-michael-parenti/
• Wakanda Must Fall
‘This White, Western, pan-European fantasy film where all of its colonial subjects fight each other to see who will be safe from them is a political mess.’
– blackagendareport.com/wakanda-must-fall
• Identity Without Responsibility
‘insight on celebrity culture and acknowledgement of the confusion that is deliberately created in this country is sadly lacking’
– blackagendareport.com/identity-without-responsibility
• Masters of Crowds: The Rise of Mass Social Engineering
– thereader.mitpress.mit.edu/masters-of-crowds-the-rise-of-mass-social-engineering/
• Not So Fast
‘Scientific management started as a way to work. How did it become a way of life?’
– newyorker.com/magazine/2009/10/12/not-so-fast
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email: econenews@gmail.com
blog: eesrilanka.wordpress.com
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