Mush Economy Demystified 1. #Growth: Our GDP growth only crossed once the Emerging & Developing nations in the go-go years of Mush bubble. Growth is always relative, and he performed subpar in one of the biggest global upswings. bit.ly/VWNbbu | on.fb.me/Z1rYiB 2. #Savings: Mushs buddy, Shaukat Aziz (The Fugitive), was fueling consumption boom - an illusion and unsustainable - as a result our savings collapsed. He liberalized financial markets & turned us into a Casino. All economic variables are affected by institutions/rules. He made sure that we had ones for speculation. bit.ly/1pSXidP | bit.ly/1pSXidP 3. #CAD - Current Account Deficit: Mush regime created greatest CA crisis in 33 years (for which we have data). Despite selling nation, CA balance was going down since 2003. This took us to IMF trap in 2008 amdist shocks, for which we were not prepared. bit.ly/1vvXLWy | bit.ly/1lAOpWn 4. #Tax/GDP: Tax-to-GDP ratio collapsed, and when Aziz came, it fell more - economy was dependent on foreign flows. bit.ly/1qPWoyJ 5. #Resilience: Mush economy was a bubble within a global bubble - unable to sustain shocks.on.fb.me/1Cc1RVx 6. #Privatization: The neo-liberal privatization agenda of selling national assets finally led to the fall of Mush when he tried to discard Pakistan Steel Mills, which was only the last in the series of sales - OGDC divestment was one of them. Privatization myth busted on.fb.me/1qjrPA5 7. Military #Dictatorship Economy: Mil. dictatorship is an unstable system. Measuring a system on resilience and long-term sustainability is more important than productivity. It may appear productive in short-term and everything seem to go spectacularly well, but its sudden collapse shouldnt surprise at all. on.fb.me/1tVVocy 8. #Initial Years: The growth was dismal in the starting few years, and fell in the first year, as usual. bit.ly/VUvPwi (2000), bit.ly/Y0dQ9p (2014) This page will be updated, IA ... Pakistan Defence Citizen Awareness Program General Hamid Gul - Official Siasat.pk Pakistan Al Ilm Trust Syed Talat Hussain NADEEM MALIK
Posted on: Sat, 30 Aug 2014 06:13:51 +0000
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