Archive for August, 2011

There are times………

There are times when I believe in you
There are times when I don’t want to
And that is when I feel the love
So strong that I am afraid

Whether I will hurt you once again
Tell me, my love what is life without you?

Be there even if you are not allowed
Cos, that will give me an edge over the others

If in this world I ever get lonely
I know one soul that beats for me
Further away from me lies the shore of love
With tides as high as this sky
That can swallow me and keep me embraced
Forever and ever, for it has no banks.

Moored to a shipwreck that will rock
The essentials of the ship but not the heart
That is locked away in glory of yester’s and today
Don’t you wither there is more this summer
Cold winter is to soothe the heat
The smouldered blues of your life
Hold on to the weather there is more with every change
And with the destined change I am not far off

A day will not go without you telling me
What I am for you and what I mean to you?
But when that is said, you recite  – Why me?!

Your murmurs in the deepest darkest of nights
Will bring in the morn that you wait for
There is light in the thought that – I am there!!
There are times when I believe in you!!

-KK

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Rapturous Intoxication

In the silence of the morning, I write what comes to my mind
Yet in my slumber, it started out with thoughts of you.
With or without you, your love sees me through.

In your loving arms, feel of your love surround me
Warm, secure and safe from all harm
The faith in my heart will carry us through.

Kneeling at your side, I’m asking for your hand
Beckoning me to a distant land where passion glows
To unite and experience the magic of your touch.

Your heart captivating and whispering sweet nothings
I longed to hear and everything you longed to say
All inhibitions die suddenly in your warmth

My caresses of your skin as your beauty unfurled
The desire rampant on latent whispers and the silence
In the morning, evening, and in dead of the night.

Nothing matters for I’m in your arms today
Together merged in a soul redeeming bliss
The altar, that rocks in harmony to the rhythm from within.

Soul connection or fantasy….. does it really matter?
It does not, the beauty is in the dream

Photo – Courtesy Getty Images

World Shudders Yet Again

On Friday, August 5th, 2011, Standard & Poor, one of the three credit rating agencies have downgraded sovereign rating of United States of America.

The sovereign credit rating downgrade from the top most AAA rating to AA+, for the first time, was culmination of what S&P termed “political brinkmanship” that made the US governments ability to manage its finances “less stable, less effective and less predictable”.  In the  run up to the announcement newspapers around the globe had reported that the US treasury was just about broke. Down to US$ 58.6 billion in cash and US$ 130.5 billion in available credit, the Obama Administration had to go on its knees with the Republican controlled Congress to raise the debt ceiling.

Announcing the unprecedented move the S&P officials said it considers the administrations efforts to tackle soaring debt levels as inadequate”. It also mentioned that US will not regain its top credit rating soon. It warned of further downgrading to AA level. (The AAA rating represents the highest level of confidence given to an economic entity’s ability to meet its financial obligations)

The other two global rating agencies – Moody’s and  Fitch that had retained their AAA ratings of the US following the debt ceiling restructuring last week, now may not have options, but to follow suit as S&P. On the face of it, what this rating downgrading by S&P simply means is that this would make the debt ridden US’s borrowing costlier.

The Obama Administration reacted with indignation, noting that S&P had made a significant mathematical mistake in a document that it provided to the Treasury Department on Friday, overstating the federal debt by about $2 trillion.

But the fact remains that US government operates in deficit. That is, the money it collects in the form of taxes (among other sources of income) is less than the money it owes to suppliers, its citizens (social security), its employees and the banks from which it borrowed money. The gap between how much money flows into its coffers and how many needs to come out of it is the ‘size’ of this deficit.

What is the size of the US’s deficit?

The cash inflow of the US government is short of its outflows by about US$ 1 trillion every year. The deficit figure is most likely more and it sure is ‘BIG’.

The cat has now been belled but fears are ripe of another recession in the US and a debt crisis in Europe, which could result in another global financial meltdown. Within days the repurcussions are felt across the globe. For once it has pull down the bourses across the globe and sent the West Asian markets in a tailspin. US$ 2.5 trillion was wiped off the investors wealth in matter of hours.

The Indian market has also been severely affected with a loss of Rs. 4 lakh crore in 4 hour of trading session. As one of the 15 largest foreign creditors to the US, India’s exposure is estimated at US$ 41 billion (Rs. 1.83 lakh crore).  The Indian IT Industry is surely expected to take the brunt. The US accounts for 60 per cent of the revenues for the US$ 60 billion Indian IT Industry. The downgrading will also lead to further appreciation of rupee against the dollar thereby blunting the Indian IT industry’s competitive edge too.

This time China as the single largest holder of US treasury securities, with US$ 1.5 trillion, is expected to also take the brunt.  The World Leaders are huddled up to discuss ways and means to tackle the situation. The situation is unprecedented. It is still early days to know what is in store for the days to come.

 

Watch the Video for a simple explanation of Uncle Sam’s Debt Crisis

Video : Courtesy YouTube