HN user
Bill gates can't fix
- apathy from upper/middle class towards lower classes
- willingness from normal citizens to live with human feces on the streets, eat in restaurants with huge garbage piles right in front
- spinelessness/cowardness from the voting public
so what if there are smart people in india? they are spineless/uncompassionate/unfeeling/unprideful.
Phillipines Malaysia Singapore Argentina Lots of eastern european countries
They all have way better infrastructure than India
China GDP: 8.3T (2012)
Brazil GDP: 2.5T (2012) Russia GDP: 2.1T (2012)
India GDP: 1.9T (2012)
India isn't even in the same league as China. India has to compete with Russia/Brazil. BRIC is an old grouping from years ago.
Having a huge population and being democratic doesn't automatically give you a bigger economy. Look at South Korea (1.3T) or Japan (6T) comparatively.
India ‘Has Lost’ Superbug War
"India has lost the war against the toughest forms of antibiotic resistance, largely because of poor sanitation, unregulated use of antibiotics and an absence of drug resistance monitoring, according to the man who discovered a type of drug resistance in bacteria in New Delhi."
http://blogs.wsj.com/indiarealtime/2013/04/23/india-has-lost...
> China has been very nervous about the Indian economy for some time now.
lol right. go to shanghai or hong kong, then go to mumbai, and tell me that with a straight face.
I don't claim to speak good english :)
1.) the young generation is still corrupt and apathetic and spineless 2.) assuming your number is correct (which I doubt), 90% of those students who overpaid for a masters are staying in the US
taiwan also didn't also have the problem of
1.) large population
2.) squatters rights
3.) apathetic/spineless voters
4.) human fecal matters on the streets
5.) water shortage
6.) religious ferver
7.) entranched corruption
8.)....many more
I am a huge pessimist about India. here's why.
1.) Everyone in the thread is ignoring a huge point raised by the author: this is the last biggest bubble we will ever witness in our lifetime (and possibly for many lifetimes) due to
a.) unpeg of gold standard
b.) shift from farm to factory work
c.) shift from one income to two income household
d.) machine/software advances
and many other factors has produced the greatest economic growth we have ever seen in history. However, due to
a.) unsustainable financial gambling
b.) wealth growth only in top 1%, mostly through rentier effects
c.) robots, automation and artificial intelligence resulting in jobs destruction
d.) population slowdown, shift to older demographics
the second dip in global economic depression is happening. and will induce so much deflation soon that 99% of the world population will be very very poor. for 3-4 generations.
2.) due to the lack of hygiene/lack of transportation/too many people/bad weather/trash everywhere/homeless everywhere/fecal matters on the streets/too many doctors prescribing antibiotics, resulting in super-resistant viruses, there will be a huge epidemic sooner or later that might wipe out millions of people, and nobody will be able to do anything about it because the crash in the economy.
3.) Growth in IT outsourcing is no more. Foreign investments are down big. There are better countries for companies to invest in that have better infrastructure and speaks better english.
that's easy. minimize your purchases with mega corporations. buy more from small businesses.
btw, if your bank is
jp morgan chase
citibank
bank of america
hsbc
you should be ashamed of yourself.
If I were in Greece, Italy, Spain, or Ireland, I think I would pull out all my bank deposits but the bare minimum cash needed to cover obligations.
The sky is falling. From the article:
"The door may be slammed shut to all new deals."
Translation: Frigid winter.
Why? Because we're in a global economic depression. Because the government cannot print money anymore. Because anymore printing will most likely induce hyperinflation.
(That's why there was no QE3 announced last month. That's why Germany/Finland do not want to expand EFSF from $400 billion to $2 trillion. That's why China is clamping down on lending, and will most likely earn a 0% growth next year)
And so all the debts will come due. From the $700 trillion derivatives worldwide held by the banks to the tens of trillions of debt held by the government.
Sure, there will be individual investors spreading money around willy nilly (think Dave McClure). But for most, it will be time to prepare for winter. A long 10-15 year winter.
He is telling the truth.
Startup:
Record Number of Companies Pull Back on IPOs http://www.newsmax.com/InvestingAnalysis/ipo-offerings-compa...
Europe:
EFSF - 133% Of German GDP To Cover All Of Europe's Bad Debt http://www.zerohedge.com/news/explaining-how-just-announced-...
Germany rejects idea of further EFSF expansion http://www.marketwatch.com/story/germany-rejects-idea-of-fur...
China:
Chinese growth could slow to zero in 2012 http://www.iii.co.uk/articles/18948/chinese-growth-could-slo...
Cash Crunch in China Picks Up Momentum; Chinese Economy "Teetering On the Edge" http://globaleconomicanalysis.blogspot.com/2011/09/cash-crun...
Japan:
Japanese economy contracted more severely than previously reported http://online.wsj.com/article/SB1000142405311190328570457655...
Japan auto lobby cuts 2011 sales outlook by 10 pct http://www.reuters.com/article/2011/09/27/autos-japan-idUSL3...
US:
Consumer Confidence Stagnates Near Two-Year Low http://www.businessweek.com/news/2011-09-27/u-s-economy-cons...
Food stamp use rises to record 45.8 million http://money.cnn.com/2011/08/04/pf/food_stamps_record_high/i...
Overall:
Are We Headed Into A Recess/Depress-ion? The Answer In 9 Simple Charts http://www.zerohedge.com/news/are-we-headed-recessdepress-io...
All signs point to the second dip in the global economic depression.
You shouldn't stand up for facebook and scummy Mark Zuckerberg so much. You realize he's postponing IPO again and again so he can get you guys to work late nights month after month on tasteless projects like tracking people over the internet, kind of like carrots on a stick for donkeys, right?
Switch to other services (Instagram, Twitter, Google+). Problem solved.
Unless you like to be in S/M relationship. You're the S.
I don't think you've been to either country.
Facebook and Twitter works well.
Sure they do. Imagine all the doctors and programmers and air traffic controllers (and many others in different industries) going on strike tomorrow.
I don't think the issue at hand is that fraud detections are unsophisticated. The issue at hand is that the fraud detections are in cahoot with the fraud themselves. For example: Enron, Worldcom and Accenture (past) Greece, Italy, Spain and Goldman Sachs, Fitch, Moody, S&P (present) Chinese local banks, Chinese companies and SEC (future)
The problem with hackers is that they always try to find mathematical solutions to moral problems. What the world needs right now is a moral solution. A beheading for those that have fouled.
Unfortunately, the hackers, the workers - ones that actually have the power to demand changes - are willingly allowing themselves to be exploited by those that lie, and not demanding any moral judgements. They're not interested in changing the politics, they claim. They just want to keep producing interesting things, they exclaim. They don't realize they're the ones keeping the lie going. They're the ones propping up this decrepit shell of a society.
Until one day the shell collapses on their kids, anyways.
Sure there's alot of entertainers, but most of them will struggle without making decent money (just like today).
There's a reason I said 20 years. In 20 years, most of baby boomers wealth will have disappeared. And so the eldercare/health industry will collapse then.
And remember there will also be alot more robots/vending machine/teleremoting help desk doing services, reducing human needs.
My theory from before: http://news.ycombinator.com/item?id=2906769
- In 20 years, 80% of the people in will be kept alive by welfare, supplemented by their hourly job. Enough to get a small apartment, utilities, cell phone, cheap but unhealthy food, and shopping at the dollar store. And free tv/movie/music/book/sports entertainment via the internet.
- 15% will be the middlemen, extracting value from the others via service or thievery. They will be the new middle class. They can afford the sometimes luxury.
- the other 5.5% will be specialized knowledge workers. They will be the one maintaining the software/hardware to make sure nothing goes wrong. They can afford lots of luxury, but will be taxed heavily, as they are the only workhorse left in the society.
- 0.1% will be entertainers. They will make sure that people are entertained well enough not to riot.
- and the 0.4% will rule everyone.
JPMorgan Chase Bank of America Merrill Lynch will rule us all
Most European countries (just like the US) have been living beyond their means, so I only could see a decreasing living standard from here on out. Look at what happened to inner cities London as a precursor to most European cities.
As for the few rich central/northern European countries, I do agree that those on welfare will live nicely compared to anywhere else in the world. Sadly, its quite hard for normal people to emigrate to those countries. And they won't be immune to the collapse if they keep propping up the other failing countries.
I would say the fancy food phenomenon is only specific to US; good food can be found anywhere in Asia and Europe. In US, the difference would be between Denny's and a michelin starred restaurant.
Ah, thank you :) I wasn't aware of this.
Neofeudalism: http://en.wikipedia.org/wiki/Neofeudalism
I would say that's too optimistic. What I am describing of the 80% is simply what is going on with the unemployed/underemployed (~16% today), the people on food stamps (12% today) and the retired collecting SS without savings (~3% today). I don't see why in 20 years, these people would have their welfare increased to such a level that they can live a middle class life (a house, nice car, good school for their kids, money to travel, visit to good restaurants)
Unless you're saying the 80% kidnaps the government and made the rich and the middle class give them more money. Which I can't see without massive civil upheavel and the population reduction of those 80%.
My theory is:
- In 20 years, 80% of the people in will be kept alive by welfare, supplemented by their hourly job. Enough to get a small apartment, utilities, cell phone, cheap but unhealthy food, and shopping at the dollar store. And free tv/movie/music/book/sports entertainment via the internet.
- 15% will be the middlemen, extracting value from the others via service or thievery. They will be the new middle class. They can afford the sometimes luxury.
- the other 5.5% will be specialized knowledge workers. They will be the one maintaining the software/hardware to make sure nothing goes wrong. They can afford lots of luxury, but will be taxed heavily, as they are the only workhorse left in the society.
- 0.1% will be entertainers. They will make sure that people are entertained well enough not to riot.
- and the 0.4% will rule everyone.
Hits too close to home, staff writer for Wired?
The combined wealth of American's billionaires is only $1.5 trillion. [1] If we taxed them 100%, it would only pay off our budget deficit for one year. We still have around 54 trillion total debt to pay down. Not to mention 115 trillion unfunded liabilities.
And which entrepreneurs would be stupid enough to work 14 hours a day and hire workers, knowing that the government will tax them 90%? They would all flee the country.
We have too much debt, period. From military, medicare, and social security spending. Problem is, if we reduce any one of these, either our soldiers returns home broke and angry, or the seniors die of starvation/disease. (35% of Americans already over the age of 65 rely almost entirely on Social Security payments alone. Median retirement savings of households over the age of 65 is less than $45,000).
Tough choice. But it looks like the current politicians aren't going to make a decision, but let Bernanke print dollars until hyperinflation arrives.
http://english.alarabiya.net/articles/2011/03/10/140943.html
"I couldn't believe some of the responses. There were tons of people saying that their iPhone apps were because they made it easier to find restaurants.. or that their B2B social media marketing startup was because it was improving productivity for marketers. I'm paraphrasing but that was the gist of many of the responses. Don't get me wrong, I have nothing but respect for people who have successful typical startups. But that said, I think people sometimes are extremely sheltered if they think that those sorts of problems are really impacting lives."
Careful, you might make new YC companies' head explode.
(YC S11) Interviewstreet is disrupting the recruitment space and create a place where the best hackers get the best jobs
(YC S11) Splitterbug private beta: track expenses with friends from your phone
Munch On Me (YC S11) Helps You Discover Tasty Dishes
Stypi (YC S11) Is Etherpad Reborn
Parse (YC S11): A Heroku For Mobile Apps
Envolve (YC S11) Launches An API For Real-Time Chat
Kicksend (YC S11) Launches To Make Sharing Big Files A Breeze
Snapjoy (YC S11) Will Organize Your Photos For You
Leaky (YC S11) is Hipmunk for Car Insurance
Picplum (YC S11) is automatic photo printing service created to help you easily share your best memories with friends and family
Plus about 10-15 (YC S11) Advertising companies (a guess)
And.....drumroll........
ZeroCater (YC W11) Raises $1.5 Million For No-Hassle Office Lunches
Virgin Group wiki says the only founder is Branson.
http://en.wikipedia.org/wiki/Virgin_Group
One of these wikipedia page is lying :)