Saturday, December 01, 2012

hear the firecrackers of prosperity?

i was awakened at midnight last night by the loud and continuous explosions of firecrackers heralding the Christmas month.  noise continued in the morning and even now there there are few occasional bursts.

fact that during last few years, this noise, indicator of people's happy expectations for Christmas, has grown louder and louder, in line with the actual increased spending during year end holiday season, is yet another unofficial testament to sri lanka's continued healthy economic growth rate; 6%+ this year in spite of global slowdown, currency depreciation, and contractions in some of sl's western export markets.

i would be very worried if i was in the opposition. thankfully i am not!

happy spending season for all! 
 

p.s.
don't forget to spread the spirit to those who fail to take the opportunities opened up by peace and get left behind. hopefully spreading the cheer will get them motivated to take responsibility for their own well being in future.

my twitter - http://twitter.com/sittingnut
this blog's twitter - http://twitter.com/llibertarian

33 comments:

Anonymous said...

Ha ha measuring economic growth through sound of fire crackers. I believe this is the best from you yet. Seriously the family should consider appointing you in place of Hudson samarasinghe. You have all the traits.

sittingnut said...

lol@ the anon fool

i would be silly and propagandist only if i was pointing to these informal indicators as more valid even when they contradict the official figures.

not the case here.

in fact these other indicators reenforce the official ones .

face the truth!

Anonymous said...

Looool the economic theory of fire crackers! Once a bitch always a bitch.

sittingnut said...

lol @ anon going crazy when faced with facts

likes of anon will go on living in fantasy while we live in reality.

check the record of this blog; see how much i got right before the event; from success at defeating tigers, to sl inflation, to election results,etc, etc, by sticking to reality

Anonymous said...

More fireworks equals economic growth? Don't show your idiocy.

sittingnut said...

anon above shows his/her ignorance

1/ fireworks and firecrackers are two different things and set off by different sets of ppl; and conclusions to be drawn from increase in one or other are different.

2/ as i said before above, this is yet another indicator confirming other statistics . fools like anon are free to ignore them and reap the disappointments inevitable in ignoring the reality.

3/ as said before, this blog has an excellent track record in accurately predicting events. read the archives.
anon is free to call that "showing idiocy" and live in fantasy . i will continue to live in real world and post blogs like above

lol @ the anon fool


Anonymous said...

Once there was a corrupt government that even went to the extent of interfering in the judiciary and there was a self claimed libertarian who actually supported it. Only in Sri Lanka!

sittingnut said...

lol @ anon reduced to ignorant babbling after previous comments failed .
-

my stance on corruption(based onlibertarian principles)has been spelled out many times before here.

here it is again in a very brief form:
corruption is inevitable when some people have control(directly or through regulations) of other people's property. as such all governments are corrupt(confirmed by reality).
while people convicted for corruption on specific charges according to law must face the consequences. that is no solution. only solution is reducing size of government control, not changing people.

ignorant fools like anons can't get that
-

impeaching a corrupt cj is with specific and detailed charges is constitutional. both is sri lanka and in other democracies.

by claiming impeachment of sri lanka's chief judge, for a very specific and detailed wrong doings, is equivalent to vague "interfering in the judicatory", anon shows his/her willful ignorance and dishonesty, and his hatred for sri lanka.

Anonymous said...

WTF did I just read???

We have inflation just under 10%, experienced one of the worst currency depreciations, export/imports are declining month over month.

And the GDP growth is at a modest 6%(we have had this growth even when a war was going on, and how much china funded questionable mega projects must be contributing to this growth?).

But since sittingnut has teamed up with local communists and racists thinks that 6% GDP growth is such an achievements. Frogs in the well!

If we are to achieve anything we will have to sustain a growth rate of at least 8% and to do that we will have decrease the inefficient public sector(which this government is increasing without a plan) and do some real economic reforms(which the sittingnuts commie friends would never allow).

If not we will have to be content with a modest growth like 6% and then cover up using willing-lapdogs/unwilling-idiots to come up with absurd firecracker theories like this.

Anonymous said...

"impeaching a corrupt cj is with specific and detailed charges is constitutional. both is sri lanka and in other democracies."

So the supreme courts verdict against the draconian divinaguma bill has nothing to do with the impeachment!

Spoken like the true political stooge.

Anonymous said...

A real democracy would never allow a gang of former murderers/current thieves to hear a case against a Judge.

CJ must too have a qualified person who knows the legal system to hear her case. Are we going to anticipate any justice to her with corrupt, uneducated politicians hearing her case?

Our constitution is nothing but libertarian so it is comical when sittingnut hides behind the constitution to support his rogue masters.

sittingnut said...

born loser anon (it's the same one according to ip) rabidly jumps from argument to argument after getting spanked on previous one .
lol

-
i dealt with is argument in post but more here

we had 8% gdp growth for past few years. this year we have 6% growth (which is enviable for vast majority of countries, in this year of global slowdown. check india's growth for comparison http://in.reuters.com/article/2012/11/29/india-economy-gdp-idINDEE8AS0FT20121129)

and our exports are down by a bit because of slow growth(or contraction) in western markets. but again we are doing much better than other exporters to same markets.

one other reason for export slow down was artificial over valuation of rupee from mid 2011 to early 2012(only serious economic mistake on part of government, which btw i pointed out last year ) . this has been corrected . does this anon believe we should over value rupee instead of floating it as was finally done? lol

and yes inflation for year is up . mainly bc of rupee's market based depreciation and inevitable rise in energy prices. probably anon is ignorant that in west inflation figures published in media explicitly exclude volatile energy and food inflation. if we did that we would have a lower inflation rate. baring sudden change in global situation inflation will come down in next year (as said before this blog has a good track record on such predictions)

i don't see any marked increase public sector. it is however a left of center government elected on leftist polices. i have said i don't agree with them here before. though i am happy whenever they abandon their left polices to more pragmatic & centrist ones, as they have done repeatedly.
in any case i don't see any viable alternative in sri lanka. if anon knows of one he/she present it . lol

-
i don't know what anon mean by my "commie friends" bc i don't have any ! nor when i ever "teamed up with racists". may be he/she should be more specific on both counts.
though i am willing to bet he/she was throwing such accusations to cover up his/her stupidity, irrationality, and unwillingness to face facts . lol

btw why does anon think highways and power stations etc(which are if any thing over used) "questionable"? because they are built and funded by chinese companies? who is racist now?

lol
fact the facts and firecrackers, anon !



sittingnut said...

reply to anon 12/05/2012 9:26 am -

i don't see any charges in impeachment against cj regrading divinaguma. but many very specific and damningly detailed charges.

(btw there was no "ruling against the divinaguma". only on how it should be passed according to constitution. which rulings were followed by the government when the bill was finally passed . is anon ignorant of that ?).

of course anon is free top speculate on political motivation of government. but that is mere vague speculation. while charges against cj are specific and real.

why does defenders of cj, like anon, not address the specific charges? lol. may be they think she is guilty of them? lol

sittingnut said...
This comment has been removed by the author.
sittingnut said...

reply to 12/05/2012 9:31 am

almost all democratic constitutions allow for impeachment of members of judiciary and executive branches by the legislative.
anon is obviously ignorant of that.

nor is it in anyway contrary to libertarian principles to support such an impeachment or a constitution that contain provisions for one .
i would be happy to hear, anon (or even less stupid and ignorant person) explain how exactly libertarian principles are violated by such an impeachment. lol

-

anon claims legislative is "a gang of former murderers/current thieves " &"corrupt, uneducated politicians"

this being a free country, he is free to say those thing.

and i am sure such accusations can be used against legislatives of usa, france, india, etc, as well as of sri lanka, no more no less.
but to be valid arguments they have to be specific, not vague mud flung just because anon happen to oppose the actions of legislative.
maybe anon does not care to be rational?

in contrast, in favor of the legislative are the facts,that it was democratically elected, and that it is following the constitution.


perhaps instead of democratic constitutional rule, anon prefers unelected foreign paid persons (even foreigners perhaps) to judge and rule sri lanka?

hope the fools answer with more silly comments and provide me with more entertainment

Anonymous said...

lol looks like there are fools who actually think that this man would take the side of justice and decency against his pay masters. This is the same dog that was actually happy when lasantha was murdered. Don't expect less from these corrupt political underlings. ever.

sittingnut said...

anon has lost it completely after losing all the arguments.

lol

-
btw i always take the side of justice and decency and always argue for them using facts and reason.

all can read the blog and see.

for a good example, i certainly didn't take the side of filthy blackmailing politicians like lasantha, live or dead. i wonder at the kind of scum who take the side of this man whose blackmailing backroom maneuvers resulted in self immolation of an woman, one among his other assaults on innocents.
http://llibertarian.blogspot.com/2009/01/lasantha-wickramatunga-dirty-politician.html
does the anon seriously defend the filthy acts of lasantha?

obviously these scum with their racist double standards think tapping phones by journalists britian is a crime, but doing far worse in sri lanka by a dirty politician publishing a yellow journal is heroism .
lol
-

as i said i use specifics, facts, and reason, to argue my case and support freedom, truth,democracy, justice, and decency.

in contrast, scum like anon use vague unspecified slanders to cover their very obvious racist double standards, indecency , contempt for democracy, disdain for due process of justice, wrong doing of their "heroes", hatred of sri lanka ,etc etc.

they inevitably fail when confronted with facts, and run away like dirty dogs from a stick.
and bark out another silly unrelated argument.
as all can see above
.

i expect more such idiocy from the anon .
and laughs

Anonymous said...

The fool had actually looked whether the divinaguma bill is mentioned in the impeachment. priceless!!

sittingnut said...

dirty anon dog running from facts and reason as from a stick, lets out a last weak empty bark. lol

btw isn't it telling that anon was making arguments against impeachment without even reading the charges .

Anonymous said...

sittingnut a self claimed libertarian was happy when Lasantha was murdered because he claims Lasantha blackmailed people

A real libertarian will oppose murder without trial vehemently even if the victim is guilty

sittingnuts fake libertarianism and barbarianism exposed for the hundredth time

sittingnut said...

anon who lost all arguments about economy (topic of this post) and impeachment, is back with another irrelevant stupidity. pathetic.

as they say there is no cure for stupidity. born idiot losers like anon go through life running away from facts and reason barking out lies and nonsense .

i certainly did not regret that vicious blackmailing politician lasantha was dead. (notice how anon avoids the very real facts;the harm and hurt and the resulting tragedies scumnbag caused)
people who live by violence die by it.
my full thought were expressed in full at the time .
http://llibertarian.blogspot.com/2009/01/lasantha-wickramatunga-dirty-politician.html
as everyone can read there, i did not support "murder without trial even if the victim is guilty"


anon is of course incapable of rationally explaining why my actual stance against a vicious person, and my contempt for people who treat such filth as a hero, is somehow contrary to libertarian principles.
he/she, as always, resort to mere irrational assertion. lol


wonder anon will come back and say he still love and honor the dirty politician lasantha and his very real cruelty. anon is probably one of those animals who are capable of even that.

always feels good to beat such beasts with facts and reason and hear their irrational stupid barks at each stroke .

Anonymous said...

Hey lier,

I pointed out some specific economic problem we are facing and you have provided the typical government answer. And wtf do you mean that i am same as the other anon(s). The comments are from the same IP? can you list down the IPs? I posted one and only one comment.

first of all Your commie friends are your current political allegiance which is the most leftist allegiance since 70. Your lack of friends in real life doesn't concern me.

And now to your lies.

6% economic growth is not enough specially for a country where a war was concluded since it is natural for the economy to grow after a war. All the asian economic tigers maintained growth over 8% consistently for over a decade.

//and our exports are down by a bit because of slow growth(or contraction) in western markets.

our exports for the month of october alone has declined by 13%. is 13% is a "down by a bit" for the government and its propagandists? Certainly it is a concern to impartial us.

//one other reason for export slow down was artificial over valuation of rupee from mid 2011 to early 2012(only serious economic mistake on part of government, which btw i pointed out last year ) . this has been corrected . does this anon believe we should over value rupee instead of floating it as was finally done? lol

The currency should be floated but that doesn't automatically depreciate the currency. Our currency experienced one of worst depreciations because of the wrong monetary policies of the government. Are you trying to say it is an achievement?

//and yes inflation for year is up . mainly bc of rupee's market based depreciation and inevitable rise in energy prices. probably anon is ignorant that in west inflation figures published in media explicitly exclude volatile energy and food inflation. if we did that we would have a lower inflation rate. baring sudden change in global situation inflation will come down in next year

Energy prices were always included in Sri Lanka's inflation index so it is not an excuse for the rise in inflation. 9% inflation is too high if we are to sustain our economic growth. The main culprit for our inflation is money printing.

//i don't see any marked increase public sector

The government recruited 50000 graduates alone in the last year and you claim you don't see any increase in public sector. Minister weerawanshe recently boasted that it is the only recent government with a policy to increase public sector and that they increased private sector from 800k to 14000k. But you don't see anything, of course you can't.

//btw why does anon think highways and power stations etc(which are if any thing over used) "questionable"? because they are built and funded by chinese companies? who is racist now?

Like everything else you seem to have a strange definition to the word racist. Those projects are questionable bc of this. A few large projects can prop up the economic growth of a little economy like ours but that doesn't mean we can sustain it forever. For example i'm not sure whether Mattala air port, Hambantota monorail system, etc will have the demand to justify the cost. Ofcourse I could be wrong that is why I said they are questionable.

To sum it up 1) our exports are declining at an alarming rate 2) currency is pressured 3) inflation is at 9% 4) economic growth is at a modest 6%.

If we are to be the next asian tiger we will have to
1) maintain a strict monetary policy(your commie friends don't understand such things)
2) Reduce the public sector rather than increasing it(your commie friends won't allow that)
3) Bring in some real economic reforms(again your commie friends won't allow that bc they think economic reforms are forced by the world bank)

Like I said we can either do above things or be content with a modest economic rate like 6% and then cover up using willing-lapdogs/unwilling-idiots to come up with absurd firecracker theories like yours.

sittingnut said...

more idiocy from the dirty anon dog who can't stand facts and reason.
-

lol @ anon trying to disclaim his other comments all of which were posted from the same dialog ip , and same system, with same statcounter cookie that was given it by this blog at 1st comment.

curiously the only above comment is from another ip (from suntel) (but same system and cookie).
lol
if the anon wants to separate some of his comments from others, he should get a name . or even better link to his blog with his name.
otherwise i will treat all the comments with same ip /cookie as one, since they are from one.

cont >

sittingnut said...

>cont
-
anon foolishly refer to my "commie friends and political allegiance" when i have no such allegiance or friends. and as usual he can't give one example of such.

notice the same irrationality and inability to produce facts evident in all his other comments above.

-

"All the asian economic tigers maintained growth over 8% consistently for over a decade."

fact is they maintained an AVERAGE of 8% . actual rate from year to year fluctuated. only china was able to maintain 8% consistently for a decade.
for example

south_korea
http://www.indexmundi.com/south_korea/gdp_real_growth_rate.html

singapore
http://www.indexmundi.com/singapore/gdp_real_growth_rate.html

no consistent growth . but high average growth.

why doesn't anon dog link to stats to back his claim up ? because he is a liar who can't stand facts

sri lanka had 8%+ for 2 years and 6% this year (one of the highest growth rates in the world this year).


-

sri lanka' exports declined by 6.6 in 1st 10 months of 2012. less than decline in export of others to same western markets which have flat or declining growth this year. anon prefers the stat of one month knowing well that month to month stats go all over the place.

stats back my claim that our exports are down by a bit because of slow growth(or contraction) in western markets.
all anon have is wildly fluctuating individual month's export nos of october

sittingnut said...

"The currency should be floated but that doesn't automatically depreciate the currency."

er it does if it is overvalued . lol

as is said before sri lanka had "artificial over valuation of rupee from mid 2011 to early 2012(only serious economic mistake on part of government, which btw i pointed out last year )"
when an over valued currency is floated it will decline . anon seems to be incapable of grasping even simple logic

other than that now abandoned overvaluation there is no "wrong monetary policies" in evidence. in there are any maybe anon will point them out in detail and the right policy. lol


-

sittingnut said...

on inflation, anon has no reply to my pointing out that it is up mainly bc of rupee's market based depreciation and inevitable rise in energy prices. both of which are facts

he claims it is due to "money printing", but is unable to give any evidence for any significant increase in "money printing". government has in fact raised interest rates and tried to curb credit growth.

anon, as in his other comments, seem to think throwing out unsubstantiated claims is rational argument. lol

-

sittingnut said...

anons evidence for increase in public sector is a firebrand politicans speech that "it is the only recent government with a policy to increase public sector and that they increased private(sic) sector from 800k to 14000k"
typo?
lol

also anon claims that 50k graduates were allegedly recruited but does not say how many were replacements.

the best measure of increase in public sector is not politicians' speeches but actual recurrent government expenditure. no marked increase there as a % of gdp.

if anything government's steadfast refusal to increase education spending to 6% of gdp in spite of protests point in other direction.

sittingnut said...

if anon was merely objecting to infrastructure projects why did he attach word "china" to them? his dislike of them seems to be partly motivated by a dislike that chinese are funding them. that is racism by any definition.


-

so far the actual finished projects (highways, the power stations, etc which are as i said if any thing over used ) have more than "justified the cost".
born loser fool anon finds no reasons at all to justify his claim they are "questionable" but his own irrational speculations. so like his other comments above.

sittingnut said...

anon's summary is in line with line with other comments in their total disregard to facts and reason.

"1) our exports are declining at an alarming rate "
there is 6.6% decline due to slow or negative growth in western markets and we are doing much better than other exporters of similar goods to same markets.

"2) currency is pressured"
artificially overvalued currency declined when it was floated in early 2012, since then it is steady and there is no "pressure". trade deficit declined. and inward remittances are at record high

"3) inflation is at 9%"
due to currency decline and resulting energy price increase. meaning it will inevitably decline in 2013 w/o any unexpected catastrophe in world economic situation

"4) economic growth is at a modest 6%. "
this growth after 8%+ for 2 years, is in fact one of the highest rates of growth globally this year. anon is living in fantasy world when he claims countries (other than china) grew 8%+ consistently, rather than on average.


-
anon continues to refer to my alleged "commie friends" but is unable to give a single example of one . lol
once again this is true to form in idiocy with his other comments above.

-
i don't use meaningless labels like "asian tiger" but sri lanka is in fact growing very fast and much better than others.

"maintain a strict monetary policy"
there is no indication there is any loosening. factless anon is taking cover behind vague generalities now instead of detailing and specifying the policies.

"Reduce the public sector rather than increasing it"
again no indication that there is any marked increase in public sector if we look at the redcurrant expenditure.

"Bring in some real economic reforms"
more vague generalities instead of detailing and specifying what he mean by "reforms".

silly comment referring to "world bank" is typical and shows how out of touch anon is , and his ignorance about world bank's current level of non involvement in sri lanka given the increase in gdp. it would have been valid in 90s perhaps. in contrast sri lanka has more than willingly complied with IMF's recommendations in recent years.


-
dirty dog anon, who after failing miserably distract attention, with irrelevant comments about impeachment and lasantha above,from the spanking he got from me with facts and reason on economy, once gain tried his hand on economy and once gain failed .

he failed because he cannot face reality. reality that at 6%+ sri lanka is having one of the highest growth rates in the world this year. this after 2 years of 8%+ growth. iow sri lanka is racing ahead of other countries in gdp growth. that is the only way to come up with those who are ahead of us in level of gdp; grow faster than them. and we are doing that .

all the stats bear that out . even informal fact like the one cited in post above confirm that

irrational willfully ignorant scum like anon choose to close their eyes to reality and facts, but prefer to live in fantasy worlds where countries post 8%+ rate on all years for decades, where decline of export markets in west don't happen, where overvalued currencies do not decline when floated, where inflation due to rises in imported energy prices do not happen, etc etc.
lol


i prefer details and specifics, facts and reason. which all indicate we are doing very well indeed compared to others in world . that this period in sri lankan history would be one of the greatest ever.

rise in prosperity (and fire crackers) continues while insane anon fools bark like rabid dogs . what more to make us happier in this Christmas season !

Anonymous said...

While progress has been reasonably satisfactory, I don't agree with some large infrastructure projects which seem highly unlikely to yield an appropriate return. For example the Port and Airport in Hambantota.

These could result in unwanted Liquidity and Debt issues in time to come.

sittingnut said...

both those will be useful and necessary to cope with growth (even slower growth than expected higher growth)

sri lanka needs another international airport as per regulation not to mention growth in tourism and trade.

there are obvious advantages to the port. it would be folly not to make use of opportunity. colombo port is also expanding. another big port is necessary to avoid a big bottle neck in future.

people who talk about "Liquidity and Debt issues" should actually study the real numbers and explain how exactly such nos lead to such "issues" instead of mindlessly parroting things they have not studied . i can't see any such issues when observing the actual nos which are not all that large compared others in sl sconomy.

Anonymous said...

Light some firecrackers up your ass and go the moon and join Rohitha

sittingnut said...

poor anon!

see above for a comment from a person who is completely out of touch with reality

it always feel good to beat up such scum with facts and reason and see the bloodied results like above comment from the broken animal. lol