Are you hopeful? Perish it.

[Image source]

The spectacular debacle of the world financial order will resonate longer than we can imagine. Experts say India may not suffer beyond some deep cuts and bruises from the catastrophe precipitated by the greedy US financial institutes.

And that will be for the reason that India is not yet highly exposed to the global financial system.

In other words, since the foreign money – the FDI or the foreign direct investments – has restricted entry in India, the amount fleeing the land in the aftermath of the crisis has been less.

However, the FII or the foreign institutional investments that go to the bourses left in droves causing the severe stock market crash in India. Indeed the picture is the same at all the bourses across the globe.

The scenario is so dismal that no one is daring to make any forecast as to when the situation may turn good. No amount of learned guesswork seems to hold any water. It’s unprecedented to say the least. No living memory can recall if ever in the past such turmoil has happened from which no nation could insulate itself.

With that in perspective it’s no wonder that the left parties will attempt to reap electoral benefits by sowing doubts in the minds of the people about too much of liberalization. Here is an article in the Wall Street Journal.

In a way the coming general election in 2009 is unique because there have been so many vote-swinging issues that have come and gone in the past few months. Something like this has perhaps never happened in the past.

Thus, while the BJP feels the recent blasts are an issue for them, the Congress wants to crow about the success of the nuclear deal.

The left in their turn will try to bag the issue of economic turmoil, the latest to appear on the scene, to their kitty.

None of the three however is an issue the rural voter can be expected to be concerned with. These therefore are essentially urban issues and the poll watchers will keenly observe which of the three – or maybe some other…who knows – makes the maximum effect.

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Can he? For now, yes he can.

I sat glued to the TV this morning to watch the historic moment in the US unfold. Nearly all Indian channels have been telecasting live the sequence of vote-counting – tying up with the Fox, the NBC, etc. – but I settled with the time-tested BBC where David Frost was holding the center stage with aplomb.

The US presidential election 2008 has been unprecedented, and judging from the avalanche of congratulatory messages pouring in from all over the world (an example) there is no doubt Obama’s win has kindled a rarest of rare chain of hope and aspiration across the globe.

This is phenomenal to say the least.

What exactly is there in him that catapults him to such great heights? Is he only a big hype, or there is lot of substance too? We’ll get the answers soon after the first ‘black’ US president steps into the ‘White House’ come Jan 2009.

Meanwhile here is his first speech in Grant Park, Chicago today morning India time accepting people’s verdict.

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An election without parallel

2008 has seen many unprecedented events, and the list is pretty long. We can mull over that when the year draws to close which is still 2 months away.

Meanwhile it won’t be wrong to say that many of the news-savvy eyes are firmly riveted on the outcome of the presidential election in the US. The winner will be known in a couple of days but the heat generated by the event over the past year will take a long time to cool down.

Barack Obama, though frail in appearance, seems to have a capably strong pair of shoulders that can carry lots of load. What about expectations?

Indeed Obama is perhaps the first US presidential hopeful who has received international support even from nations that are traditionally anti-US. In case he wins, will he be able to live up to the mountain of expectations people want him to fulfill?

Since Obama is a black, McCain a white, many discussions occurred around history to be created if Obama wins. America has come a long way from racial discrimination, yet several cases of violence there in the run-up to elections happened.

This shows that racial preference is something that cannot be easily wished away. It is like a boil ready to inflame on the skin whenever conditions permit.

Many people seem to think that Obama is the man who can douse the flame of the global economic downturn that started in the US. The situation however is so bad now that things can perhaps only look better, albeit slowly, irrespective of who wins the elections.

Those who are in the knowing say India has less to gain from Obama’s win. Maybe, but why who knows many India Indians appear to be rooting for the senator from Illinois to triumph.

Call for votes in Barack Obama's website

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Best airlines

If you are a frequent flier and a long-hauler at that you’ll surely prefer the airline that cares the most. Air travelers almost always have their favorites which they like to be with every time they fly.

And when you spend half or more of your yearly time up in the sky there is no doubt you’ll like a homely home away from home.

Skytrax, a privately owned London based company from 1989, fills in the vital gap of providing information as to what to expect from different airlines and airports. Its clients are mostly the different airlines, who it seems borrows the research documents from Skytrax for improving their business.

A recent ranking of the World’s 10 best airlines done by Skytrax sees 8 from Asia. Isn’t that a surprise!

The list is headed by Singapore Airlines, and the 2 that make it from outside Asia are Quantas (3rd) and Air New Zealand (8th). The complete list is as below:

1. Singapore Airlines
2. Cathay Pacific
3. Quantas
4. Thai Airways
5. Asiana Airlines
6. Malaysia Airlines
7. Qatar Airways
8. Air New Zealand
9. Emirates
10. Etihad Airways

I’ve the privilege of flying in 3 airlines in the above list, the latest being Etihad Airways during my recent trip to South Africa.

Etihad is good but I found the services of our own Jet Airways better in the first leg of my journey from Delhi to Abu Dhabi than Etihad’s from Abu Dhabi to Joburg and back to Delhi.

A Singapore Airlines A380 about to land at Changi Airport [Image Source]

P.S. I’m back from my lengthy holiday. And now ready to let my ‘literary sparks’ to fly.

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