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How nuts is the entire world right now?
Well, India's only Muslim-majority state, Jammu and Kashmir, has had its constitution somehow revoked by the Hindu-nationalist government and now the entire state is under something like house arrest, under curfew and phone lines and Internet down for the past 12 days (these are
supposedly being restored), politicians arrested, insulin and baby food running out, because that's how Prime Minister Modi thinks he can get the people "
more economic opportunities".
That line is another one of the lines that enrages me, with its more than a hint of bribery: "Surely you can put up with a little oppression if we pay you enough." And its buried presupposition that the politician delivering the line is the only one who can deliver the cash, not so buried in
the case of Trump:
"The bottom line is, I know you like me, this is a love fest, but you have no choice but to vote for me because your 401(k)'s down the tubes. Everything is going to be down the tubes," Mr Trump said. "So whether you love me or hate me, you've got to vote for me."
(The day after [checks notes] an 800-point drop in the DJI.)
Modi's economic policies, the thing that was going to make up for his party's overt "Aryan" chauvinism (not going to win him friends in the country's southern states) and Islamophobia, haven't actually been that great for the masses, in spite of continued high growth rates, because the growth
isn't shared, but benefits only the top 10%, with persistent caste divisions (Modi and the BJP castigate "
caste politics" the way Republicans talk about "identity politics", as a way of shutting down discussion of the issue) sharpening the inequality, which seems to be getting worse:
Annabel Bligh: The Modi government has been accused of withholding jobs data in the run up to the election because of how bad the official figures are. But the latest employment survey, which was approved by India’s national statistics commission, was leaked to the Indian newspaper the Business Standard in late January and showed unemployment was at a record high of 6.1%.
Indrajit Roy: By a lot of standards 6.1% is not a bad unemployment rate. But for India it’s very significant, according to Jens Lerche, because there isn’t strong welfare provision in the country. And the unemployment rate was just 2.2% in the 2011-2012 financial year.
Jens Lerche: Now unemployment is uncommon in a country such as India because poor people have to work. So, people being without jobs to some extent is people that can afford not to work – educated people that have a family background that they can live off for a while. But, what we have seen here is jobs that have disappeared also within the agricultural sector and low end of manufacturing sector. So it does appear as if poor people are also losing their jobs here.
And since his reelection in May things have started looking pretty gloomy
for the business community as well:
Despite an uptick in August, Mumbai’s Sensex stock index is about as close to October’s lows as it is to June’s highs. In July foreigners pulled more money out of Indian equities than they put in. India’s cautious business press has begun to criticise the government. So too, even more gingerly, have its cowed business leaders. “There is no demand and no private investment,” groused Rahul Bajaj, chairman of Bajaj Auto, a motorcycle-maker, at its annual meeting in late July. “So where will growth come from?” The remark, widely interpreted as a swipe at Mr Modi, encapsulates Indian business’s disenchantment with the man they once regarded as their champion.
The immediate cause of the mood swing was the budget, presented on July 5th by Nirmala Sitharaman, the newly appointed finance minister. Business folk tuned in to the two-hour presentation expecting less red tape, fewer tariffs, more incentives for investment and lower taxes. They got the opposite....
So it seems likely that the timing of the Kashmir action could be related to the general sourness people are feeling about the government. For more, see this interview with the Kashmiri (but London-resident) novelist Mirza Waheed in
The New Yorker.
Cross-posted at
No More Mister Nice Blog.
