What’s for Breakfast?

Morning Newspaper at Breakfast

Well, needless to say, it has been a long time! My vacation is nearly done and I am a little disappointed about that. Last year of university is nearly upon me, let’s see what fresh challenges that brings me.

So, I hope you are enjoying your breakfast at this point of time.


1. The Changing of the Monetary Guard – J. Stiglitz [Project Syndicate]

This is  very important for the Fed as the race for the helm goes on. Ben Bernanke – who I think did a great job – has had to deal with the financial crisis at its worst and must now wonder about tapering.

The Nobel Prize Winning Economist, J. Stiglitz, has championed J. Yellen to take the job. L. Summers is also a close contender for the Fed Chairman. Stiglitz has posited his view about the financial crisis and how it can be averted and he certainly believes that Yellen will be an effective leader in calm and crises.

2. An Essay on Economic Theory – R. Cantillon

I am nearly done with this book but I cannot wait to share it. The author, R. Cantillon, has written the first treatise on economics (as stated by M. Rothbard) and it is a great read. Cantillon puts a lot of thought in his first book on the building blocks of the economy by running through wealth, villages, the formation of towns and cities, production, property rights and eventually goes into the topic of money, quantitative theory of money, business cycles, trade theory… The works!

I don’t particularly agree with all his thoughts… Especially considering how cities are formed, wages are paid and even on monetary and fiscal policy. Cantillon is famous for arguing against monetary and fiscal policy because it will cause problems in trade and other aspects eventually leading to ‘luxury’, bubbles etc:

One must keep an open mind while reading this and hopefully enjoy this classical work.

In the News:

1. Rupee falling! – NDTV Profit

This is something that has caught my eye. A great deal of misfortune has hit India as it is one of the worst performing currencies this year. High corruption, current account deficit, fiscal deficit, interest rates rising, people losing faith in the government’s endeavors… Clearly people are not happy with the state of the political affairs in India.

But, this is becoming a serious problem and this depreciation will likely factor into cost-push inflation. With food prices already high in India, import inflation must not take place considering food inflation is on the rise as well. The government is thinking about importing onions for the first time in 2 years.

Raghuram Rajan, The Governor for the Reserve Bank of India, has a lot to think about… Even the Prime Minister must be worried considering the elections are next year.

2. Steve Ballmer leaves – BBC

Steve Ballmer replaced the great Bill Gates in 2000, but Microsoft has lagged behind Apple and Google. The main issue has been the movement away from PCs – or the lack of it. With the ascent of mobile devices and tablets a lot of catching up is required by Microsoft. Yet, it is time and Ballmer has decided to retire in 12 months.

I did find it  a little amusing to see that Microsoft’s stock price rose 9% on the news of Ballmer’s departure. Bittersweet I guess.


1. Ideas – J. Webb Young

I am reading a book by Paul Arden called ‘It’s not how good you are, it’s how good you want to be’ and he gives very good advice about pursuing goals and ways on being successful. Arden also mentions J. Webb Young and his book called ‘A technique for producing ideas’.

I enjoyed Young’s book as he details ways on how to generate ideas. The author also writes about the obvious things that people do wrong on a daily basis. A great read!

Need some Inspiration:

1. Learn to Relax – Eric Ariel Fox [Linkedin]

This is very important to me because I don’t follow it at the moment. Ever since joining university, I have been on a never ending quest to burning myself out before the end of every semester. It is very important to relax and work in cycles during the week. However, the advice still falls on deaf ears.

Recently a student, Moritz Erhardt, passed away in London on his final week interning in Bank of America Merrill Lynch and many people have spoken about the intense working hours especially in the financial sector. Well, let’s see what happens as I believe an investigation is underway at the moment.

We live in a society where people work all day and night with barely any sleep. Holidays are short and hours are long. It is workaholic type lifestyle. However, the author notes the important of relaxation not just for peak performance but for longevity. Check it out!

I hope you guys enjoy this! Take care and have a great day 🙂


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