Monday, February 9, 2009

Cricketers for Sale - Money Flies!!

On sale were 50 cricketers, all overseas players. Till a day ago, the perception was largely that the buyers would flinch. But India Inc proved it all wrong. By the time the auction got over, Lalit Modi, IPL chairman, could hardly stop smiling. “It is just amazing, great,’’ he kept saying. At the end of the two-hour process, around $7.67 million — a whopping Rs 37.5 crore — had been spent on buying just 17 players. Recession? What recession? IPL doesn’t have any recession,’’ a bidder was heard saying.

After the auctions got over, the celebrities lurked around, chatting about cricket for a change. “It looks like fun. Sure, it is fun. But it’s also business. What went on inside was fierce bidding,’’ Wadia said.

That such big business got done was almost impossible to believe, given the party atmosphere. Speaking of parties, a lavish one awaited them all, hosted by liquor baron Mallya.

The above front page news item on TOI dtd 7/2/09 makes us think?
In an economic system Money does not get created nor destroyed, it only changes hands, unless the Govt wants to push in more money by printig more!. Say the world is one system then the total money would be constant in it. Will it not be?

What happens is that money changes hands, from one person to another, from one country to another, from stocks to banks and vice versa. When we hear recesssion and nobody buying anything it only means people who can buy have either lost their money to others or are just holding on to their money and certainly those who have taken the money of the former group, if that is so, are also holding on to their money and not spending. Hence Recession means less expenditure.

If money is constant then question arises where does the rich get their money from? Where did Vijay Mallya get his money from? And why then does he ask Govt of India to bail out his ailing Airlines at the cost of Public Money either through direct monetary packages or indirectly through interest free credit supplies of ATF from Oil PSUs which are already reeling with losses?

Whose money are we spending Mr Mallya and Ambani, even if you say it is your well earned money, where did the money get produced and come from?

When money is getting concentrated only in the hands of 5% of Indians.. or the rich of the world (the % fig is appxmt) then why will there not be discontent?

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