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This blog is for students, managers and those lay people who are interested to contribute to, comment on or simply share their workplace problems and are keen to learn about issues relating to public finance, corporate finance and macro-economic management affecting their lives.

Saturday, June 19, 2010

Its not politics...its serious business.

This is in continuation of the post: Before you grumble……posted in another Blog. A similar post was published here too: Are we one of the richest....No doubt, economic resources along with natural resources play a significant role in making a country rich or poor but the role played by some of the human resource can not be ignored. It is, in fact a few at the helm of the economy and management of these resources who alone can make or break any economy. If the leaders are bulldozers, they can make you poor and yet scream at the top of their voice that their lives are dedicated to the poor.
These lives are dedicated to the poor to the extent of winning their votes; in a country like Pakistan, a person for a politician is not more than a mere ballot paper, a parchee which can make a difference at the time of elections. A rather interesting situation has been reported by US magazine, The Time in its current edition about the state of New Jersey where according to the magazine, taxes are high, the budget’s a mess, government is inefficiently organized, and the public pension fund is blown to kingdom come. Which makes New Jersey a lot like most other states in 2010.
What makes the state unusual is its rookie governor, a human bulldozer named Chris Christie, who vowed to lead like a one-termer and is keeping his promise with brio. He has proposed chopping $11 billion from the state’s budget — more than a quarter of the total — for fiscal year 2011 (which starts July 1). He’s backing a constitutional cap on property taxes in hopes of pushing the state’s myriad villages and townships to merge into more efficient units. He’s locked in an ultimate cage match with the New Jersey teachers’ union. It may be the bitterest political fight in the country — and that’s saying something this year. A union official recently circulated a humorous prayer with a punch line asking God to kill Christie. You know, New Jersey humor. And in an interview with the Wall Street Journal, Christie didn’t talk about the possibility that his fiscal initiatives might be compromised or defeated; he pictured himself “lying dead on State Street in Trenton,” the state capital. Presumably that was a figure of speech.
Are you surprised? Don’t you think New Jersey is just another province of the Fatherland? The politicians don’t see to realize that its economy and they just can’t play with it like they play politics. By the way, politics in this part of the world is synonymous with intrigues, scheming, cheating and plundering.

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