Prosperity amid Stability
Deception of Proposal of Mortgage Bankers Association to OVERHAUL Fannie Mae and Freddie Mac. April 26, 2017.
Public Interest Litigation before Supreme Court for Unanimously Agreeable Constitutional System of Governance. April 13, 2017.
Commomerating-Original-Advocates-of-Unanimously-Agreeable-Philosophy-and-Governance. April 9, 2017. Revised April 10, 2017.
Deconstructing and Supplanting the Current Deep Administrative State with the Unanimously Agreeable Philosophy and Governance. April 3, 2017. Revised April 10, 2017.
Unanimously-Agreeable-Health-Insurance-Act Without Subsidy, Individual Mandate or Extra Tax on the Rich. March 25, 2017. Revised March 26, 2017.
Superiority of Collegium System of Appointment of Judges by the Supreme Court and Ushering an Era of Unanimously Agreeable Fundamental Fairness in Governance of Humanity. March 16, 2017
Advent-of-Unanimously-Agreeable-Rules-of-Governance-and-Trump-Rally. February 19, 2017. Revised March 5, 2017
Intellectual Terrorism to Thwart Establishment of Unanimously Agreeable Philosophy and Governance. February 26, 2017.
DEEP-STATE-in-Governance-of-USA. February 17, 2017.
US Election Verdict - 2016 - is an Unambiguous Triumph of Unanimously Agreeable Philosophy of Governance. January 14, 2017.
Unanimously Agreeable and Fundamentally Fair Alternative to Democracy. May 30, 2016.
Unanimously Agreeable Philosophy of Governance is Antithetic to the Common Underlying Ethos of Every Modern System of Governance. May 1, 2016
Triumph of Ancient Philosophy over Modern Philosophy - Part One. May 1, 2016
Adverse Impact of Robber Barons Funding Elections. April 15, 2016
Free Trade Agreements have Boomeranged, Politically and Financially. April 14, 2016
Moral Hazard: Panama Papers versus Private Hedge Fund Accounts held at Government Sachs. April 9, 2016
War, Prosperity and Civilized Coexistence of Humanity. April 2, 2016
Public Lending to Private Hedge Funds is Inefficient, Unstable,
Unconstitutional and Unanimously Disagreeable. First Draft November 17, 2007. Revised March 30, 2016
Cause of the 2008 Financial Catastrophe: The Experts Deceived the Academy and the Nation
by Surreptitiously Rejecting Research on Economically Efficient and Constitutional System of Money and Finance, and on Optimal Holding Company Organization and Capital Structure under Constitutional Governance. Dated April 30, 2011. Posted March 26, 2016
Demanders and Suppliers of Azadi (Freedom) - the case of Rising India. March 4, 2016
Emerging Platforms in US General Election: Established System of Robbery Versus Unanimously Agreeable Philosophy of Not Robbing Individual or Common Wealth. March 2, 2016
Unanimously agreeable war for freedom. February 27, 2016
Unanimously agreeable credible measures of nationalism. February 19, 2016
Making the Country Great Again: Adopt unanimously agreeable philosophy of governance by transcending liberal and conservative dogmas that have destroyed the greatness of the country. February 17, 2016
Arbitrage Pricing of Total Risk of Assets, First-best Governance of Financial Markets and Unanimously Agreeable Safe Central Bank in Equilibrium. First Draft 1991. February 12, 2016
Unanimously agreeable True Masters. February 7, 2016
Unanimously agreeability of Safe Central Banking Policy. February 2, 2016
Triumph of Ancient Philosophy over Modern Philosophy - Part Two. November 16, 2015
Unanimously agreeably and rationally defined tolerance necessary for civilized co-existence. November 07, 2015
Why leaders have failed to liberate humanity. December 6, 2014. Revised October 27, 2015
Shadow Banking, Shadow Academy and Shadow Governance: Economic Collapse. October 18, 2015.
Losing Financial War on Enterprising American Households. October 7, 2015.
Enligntenment: Self Pursuit for Truth and Justice Can Beget Immesurably Valuable Peace and Happiness. First draft January 22, 2009. Revised September 13, 2015.
God helped Mr. Obama win presidential election? November 22, 2008, Updated September 13, 2015
Dissociation of USA from American Empire. August 29, 2015.
Taxpayer (public exchequer) is on the hook due to short selling of Treasury Securities by banks. April 14, 2015.
Global Central Bank - Memo to President of China. April 13, 2015.
Glib Punditry is Facing the Heat. Fannie and Freddie deserve a premium for rescuing too-big-to-fail banks (Chapter VII of Coalition of Borrowers Paper). March 27, 2015.
Coalitions of Lenders and Borrowers, Government-Regulated Lender, Safe Central Bank and Interest Rate in Equilibrium. April 28, 2013. Revised March 27, 2015.
Diktat of Unanimously Agreeable Governance and Unifying Philosophy Necessary for Individual Freedom. March 6, 2015.
Delusion of Middle-Class Economics: Delhi Poll Verdict to Repeal the Currently Established System of Robbery. February 11, 2015. Updated February 22, 2015.
Governance of the Federal Reserve Board. February 19, 2015.
Absolute Knowledge on Governance. January 18, 2015.
CBO Study to Eliminate Fannie and Freddie is Dangerous to US Economy: Letter to President Obama. January 2, 2015.
Freedom from Neo-Colonialism which has crippled economies world-wide. November 26, 2014.
March towards Constitutional Capitalism. November 7, 2014; Revised November 22, 2014.
How Academic Freedom has eluded the academy and how it can be attained September 12, 2014.
Federal Reserve Now Admits its Models Don't Work. May 24, 2014.
Private Investors and Taxpayers: Case of Fannie and Freddie. May 20, 2014.
Government Actions on Optimal CEO Compensation. May 1, 2014.
The Prevailing Academic Administrative Policy has caused the Economic Crisis: A Proposal for Reform. April 24, 2014.
Federal Reserve Now Admits (in a speech on April 8, 2014) that Moral Hazard in Banking and Finance is a Serious Problem facing USA. April 15, 2014.
Dodd-Frank Act of 2010 Legalized Subversion of American Liberty. April 7, 2014.
Undoing Moral Hazard in Governance of Fannie and Freddie for Liberty. April 6, 2014.
Freedom from Moral Hazard: Blessing and Guidance of God. March 26, 2014.
Federal Mortgage Insurance Corporation is financially suicidal for taxpayers. March 16, 2014
Unanimously Agreeable Rationale of Governance justifies Continuance of Fannie Mae and Freddie Mac. March 12, 2014
Advice of Most Successful Entrepreneurs for Governance. March 4, 2014
Origin and Triumph of the Philosophy of Modern Constitution: February 14, 2014
Fallacy of Keynesian Economic Philosophy (2008). Revised: January 24, 2014
Universities Need to Reward Research on Stability, Economic Efficiency and Constitutional Fairness. October 28, 2013.
Truly Free Market Capitalism. October 17, 2013.
Coalition of Patients and Government-Regulated Private Insurer in Equilibrium. September 25, 2013.
Tax Capital Gains as Ordinary Income and Jettison Keynesian Economic Philosophy. April 29, 2013.
Constitutional Capitalism. December 15, 2012. Revised April 20, 2013.
Safety-net and Budget through First-best Policy. April 13, 2013.
First-best governance of Fannie and Freddie. April 6-12, 2013.
Institution of government rewards for research on systemic preservation of wealth created by and of the crucial vast majority that innovates, invents and produces globally competitive goods and services. March 23, 2013.
Legality, Morality, Unconstitutionality and First-best Economic Efficiency. October 25, 2012.
Root Cause of Financial Crisis. April 18, 2011. Revised September 30, 2012.
The Most Powerful Body at this Epochal Moment in the History of Humanity. August 30, 2012
Significant Move Towards Constitutional System of Money and Finance. May 8, 2012
The Winning Economic Philosophy of Governance. February 19, 2012
Ancient Indian Philosophy and Modern Constitution. September 2, 2012
Views on Economically Efficient Constitutional Governance
Necessity of First-best Policy Academy for Economy and Government. November 09, 2011.
Begetting First-best Status for Principals. October 17, 2011
A Unifying Philosophy of Governance. Revised, May 12, 2012
No-Subsidy Mantra of Governance to Attain the Most Efficiently Competitive Economy. September 9, 2011; Revised October 10, 2011
Support for the No-Subsidy Mantra of Governance: Republicans and Democrats want to give no subdies to anyone including corporations. (September 28, 2011). EU mulls Trading Tax to Compensate for the Government Subsidy to financial firms (September 28, 2011) and Global Agitations are Against Government Subsidy to Special Interest Groups (September 28, 2011). No-subsidy mantra in USA and government funding of elections in India mooted to attain efficient and competitive economy. September 19, 2011
Root Cause of Financial Crisis. April 18, 2011
Illegality of Broker Bets Against Clients. April 14, 2011
Constitutional Capitalism: A Path to Unity, Systemic Fairness, Economic Efficiency and Social Competitiveness. January 23, 2011
Resolving Moral Hazard in Currency Manipulation. November 8, 2010
Economic Freedom and Constitution. November 4, 2010
Strategic Quantitative Easing Needed. November 4, 2010
Systemic Weakness: Inefficiency and Unconstitutionality of the Federal Reserve Act and the Federal Deposit Insurance Corporation Act. October 18, 2010
Blind Review of Academic Papers is Unconstitutional and Detrimental to National Competitiveness. October 7, 2010
Economic Philosophy to Preserve Democratic Capitalism - School of Optimal Governance. October 2, 2010
Policies to create Jobs. September 2, 2010
Truth alone will triumph and prevail. August 29, 2010
Media and Truth for Capitalism and Wealth Preservation. May 4, 2010
Constitutional System of Money and Finance. May 2, 2010
Unconstitutionality of Short Selling and Private Market Clearing. April 25, 2010
Financial Reforms Commonly Longed in Democracies. April 17, 2010
In God We Trust. April 12, 2010
Trading by Market Making Companies is Unconstitutional and Financially Suicidal to Taxpayers. March 31, 2010
Constitutional Rules to Avert Destruction of Capital. March 23, 2010
Mythology of Market Discipline Crashed. New Philosophy of Governance. March 11, 2010
An Economic Theory of Constitutional Governance. March 1, 2010
Efficient Resolution of Moral Hazard is Health Insurance Industry. February 22, 2010
Efficient Resolution of Moral Hazard is Necessary for Individual Liberty. February 17, 2010
Rules of Optimal Governance to Compete Globally. January 29, 2010
American Perestroika for Prosperity amid Stability. June 11, 2009
Structuring Fannie and Freddie According to Constitutionally Mandated Free Market Economy. June 3, 2009
Creating a Free Market Economy. May 18, 2009
Conflicts of Interest in Academic Research and Economic Doom. April 10, 2009
Ask what you can do for your country. April 7, 2009
Historically, bankers have caused depressions following great technological innovations. March 17, 2009
Mega Problem: Credit Imbalance. February 28, 2009
Systemic Risk Due to Bonus Based Trading and Compensation. February 15, 2009
Optimal Governance of Capital Markets. February 14, 2009
Global Trust (a new bank). February 11, 2009
Reviving Trust in American Banking and Governance. February 7, 2009
Self Management of Bad Assets and Bank Nationalization. January 27, 2009
Value of Selfless Research: Optimal Governance vs. Market Dogma. January 22, 2009
Seeking Truth and Justice for Peace and Happiness. January 22, 2009
An Optimal Strategy to Revive Economic Boom with Enormous Profits to Taxpayers. January 2, 2009
Prosperity amid Stability: A New Economic Paradigm for Democratic Capitalism. 1991-2009
Free Market Dogma Fails. Philosophy of Optimal Governance Wins. December 23, 2008
Optimality of Government Sponsored Entities, Fannie Mae and Freddie Mac. December 10, 2008
A Three-Pronged Strategy To Thwart Terrorism. November 27, 2008
God helped Mr. Obama win presidential election? November 22, 2008
Ban Short-selling Fairly. November 21, 2008
Price of Prejudice. November 15, 2008
Abolishing Modern Usury and Financial Bondage. November 8, 2008
Freedom and Free Markets. November 3, 2008
A less costly proposal to save the real economy. October 11, 2008
Greedy Creed and Usurious Credit Growth. October 10, 2008
Usurious Credit Growth and Optimal Price of Credit. October 2, 2008
Market Making and Greed. September 30, 2008
Restoring Trust in the Venerable American Banking and Monetary System. September 28, 2008
Bailout is suboptimal, but "Safe Banking" is optimal for taxpayers. September 24, 2008
Averting the Next Looming Disaster: Busting of Dollar. September 20, 2008
Lending Taxpayer Funds to Investment Banks and Hedge Funds is Financially Suicidal to Taxpayers. April 9, 2008
New Financial Market Regulation. March 31, 2008
Bank Bailout Exacerbates Problems Faced by Vast Majority. What are the Solutions? February 24, 2008
Ban short-selling in best national interest? February 9, 2008
What Constitute Optimal Rules of Governance? January 19, 2008
American Prosperity: Optimal CEO Compensation, January 19, 2008
Optimal System of Governance for Prosperity amid Stability. November 23, 2007
Utility of Wealth, Optimal Policy and Democracy. October 25, 2007
Exchange Rate Beyond Purchase Power Parity. October 20, 2007
Downfall of Wall Street. Helping Main Street. Sept 30, 2007
US Congress was warned in 2003 about current home mortgage debacle: Aug 19, 2007
"The U.S. witnessed an expansion of $2.5 trillion in new credit during the last one year, primarily in the home mortgage market. There is no reason to assume that the U.S. assets somehow rose in value more than this colossal new credit even after the terrorist attack of September 2001. It seems that the U.S. home mortgage market is ballooning without much real support and will likely burst sometime. This can make many major banks default massively. Unless the U.S. Congress acts preemptively, it will be forced to react afterwards after uncontrollable bank failures. Safe banking is the only optimal alternative available for taxpayers. " Safe Banking by Sankarshan Acharya to US Congress on March 31, 2003
Grassroots Democracy in China
Winning A War on Terrorism Nonviolently
Individuals Maximizing Utilities of Their Own Net-worth May Harm Humanity in Long Run: A Rational Of Social Stability and Individual Prosperity
Enhancing Global Welfare
Policies to Avert Recurrence of Great Depression
A Unifying Philosophy of Governance - Universal Religion and God for Stability and Prosperity
Should President Bush Have Visited South Asia?
Prosperity depends on cost of oil linked to war: optimal strategy of major powers
Letter to U.S. Senators on Stability and Prosperity on November 5, 2005.
The new Chairman of the Federal Reserve Board, appointed on October 24, 2005, " pledged to do all he could to ensure the continued prosperity and stability of the American economy." Issues of social stability and prosperity have been stressed in a letter to President Bush on January 31, 2005.
When does an individual feel prosperous? Is it after he "owns" a big home in a nice suburb and a sports utility vehicle to commute to work? Or, after his retirement portfolio grows substantially as in 2000? Let's not forget that such virtual prosperity can be ephemeral. It can severely erode beyond one's controls. Virtual wealth depends on macro events like war, energy and utility bills, health care costs, and children's tuition bills. More crucially, virtual prosperity can evanesce due to pure manipulation by individuals with the ability to control events to enhance their prosperity at the expense of the absolute majority.
Letter to FED Chairman on June 21, 2001: "By raising interest rate, you seem to have preemptively killed an economy growing without inflation. Now, you seem to be nervously cutting interest rates and approving of tax cuts. " This letter argues that FED had no mandate to regulate stock markets. Regulating stock markets by monetary policy adversely affects real economic activities. These notes were subsequently found to be consistent with a study by the newly nominated FED Chairman, Ben Bernanke.
Letter to SEC Chairman on June 21-25, 2001: "Please examine this case because I believe that every brokerage house is in league with their fund managers to milk mutual fund investors." There were a lot of correspondence with senior attorneys at the Security and Exchange Commission. The SEC Chairman Harvey Pitt at that time was facing serious criticisms for unethical practices. He seemed to soft-pedal the issue. After he left the SEC, the matter was pursued under the new Chairman Donaldson, perhaps due to the NY State Attorney taking the lead on the matter. There were a lot of joint efforts between SEC and NY State, but SEC moved slowly until the Congress noticed it. Eventually new laws imposing restrictions on trading by mutual fund after hours were imposed. But these are hardly the remedies for the potentially serious breech of trust due to the trading between principals of mutual fund companies and fund managers.
Letter to US Congress on March 1, 2005: The potentially serious breech of trust due to the trading between principals of mutual fund companies and fund managers can result in robbing of fund investors and explode some day as a financial bomb. This could cause systemic losses like the panics and runs in the banking industry that jolted the US economy in 1907. Congress is being urged to ban such trading and disallow short-selling of financial securities.
Exchange Rate Dynamics in a Surging China
The disparity between haves and have-nots in China, India and USA is very disconcerting. China is being portrayed as a rising economic superpower. Is the Chinese absolute majority becoming prosperous? It is very hard to get an answer to this question in a country run by a single party (Communist Party of China) which has absolute control over dissemination of information.
Latest in the World of Finance and Economics
China has removed the peg of its currency (yuan) from dollar in July 2005. Chinese yuan value rose from 8.27 to 8.11 yuans per U.S. dollar. Has China really removed the peg on yuan? If the Chinese economy continues to remain strong and if the U.S. economy weakens, then floating yuan can raise its value in terms of dollar, euro and yen. As soon as China completely removes yuan's peg to float it, other world currencies will likely rise against dollar. Is it in China's interest to float yuan freely? The book on Prosperity answers these questions.
Will Capitalism Prevail?
Communism's basic ideal is to force individuals to work in cooperative communes on equal pay. This ideal has effectively stifled innovation and productivity of talented and diligent individuals. Such individuals either emigrated from nations that practised communism or became corrupt rulers and decision makers exploiting the vast majority. Communism has thus enervated societies that practised it. The communist Soviet Union has been disintegrated. China altered its course to embrace capitalistic entrepreneurship. India too practised communism in a pseudo-socialism format. The pay structure even in the private sectors have been dictated by central planners for a long time after India gained independence. India was forced to change its policies after its export earning potential was totally decimated and its imports could not be financed with its foreign currency checks bouncing in 1991.
Communism has utterly failed. Even its transformed proxy, pseudo-socialism, practised in India has not worked. This begs questions of whether capitalism has succeeded and whether it will be the lodestar of future governance of societies. This is analyzed in Prosperity published by Citizens Publishing.
Invitation to Seekers of Legitimate Prosperity
Individuals have legitimate vested interests and should feel good about it. Vested interest to become wealthy, legitimately, is justified and rational. Such individuals may join an increasingly popular forum, Citizens for Development (CFD). There is no membership fee for CFD.