Poor countries and mismanagement

Why are poor countries poor? Is it because of corruption or mismanagement or trauma from colonial occupation or whatever conspiracy theory you can throw it. The people and governments in the poor countries blame the west since it is much easier to direct criticism to them then to themselves. I have studied poor countries (on the internet and being physical in countries) and I believe that despite blaming more of the poverty on the corruption, it is really the mismanagement of resources that is mainly the root cause of their poverty. Poor countries are rarely short of natural wealth and the means to get it since their population is hard working. It is just that these resources (human and natural) are so mismanaged that they end up leaving the country in more mess than it started with. The people who manage these countries don’t want to manage their resources in an efficient way since if things start to move smoothly then what is the purpose of them being there in the first place. I am not saying that people are not corrupt but with the amount of wealth the poor countries have, even with corruption, if only the mismanagement of the economy can be controlled and sincere and honest people are installed who can effectively manage the economic and human resources of the country, then there will be less blame to go the colonial powers (it will still be there out of habit) and effort will be put to taking care of their country

Would you send your loved ones to the Nursing home?

Nope, not me, never in my lifetime, don’t even mention it, I would rather die, over my dead body. These are the things that come to mind when deciding on this heart wrenching decision. I know everybody have to make their own decision. But if it were up to people, I believe that they will never do it unless it is beyond your control. I mean if it is physically impossible to take care of your loved ones. For me even that circumstances, the thought never comes to my mind. I know there are people who will make this decision based on the physically impossibility of being with your loved ones all the time once they are incapable of handling themselves individually. This topic came to my mind while listening to some ads on the radio regarding some long term care facility and how the people who did it were quite satisfied with it. For me here is the case of not sending your loved ones to nursing homes, long term care facility or senior citizens facility (whatever you want to call them), when you were born , you were dependent on your parents for everything and can't function without them and now that they are in the same situation, you don’t get rid of them by putting them in a facility among strangers. Even if you have a sibling or some other person that you have blood relations and are supposed to take care of them, you don’t walk away from your responsibility just like that. What if you were in their shoes, would you want your loved ones to put you in the same facility that you are going to put them in. For me the answer is a big NO, for you follow your conscience.

Can Cyprus deal happen elsewhere?-3

Now I don’t want to scare you folks but the fact is that the situation in Cyprus has created a dangerous precedent. You know that everybody is not rich and they build up their wealth slowly and now with the deal in Cyprus, their wealth above the threshold limit will be wiped out. Can it happen elsewhere? Before this, the deal in Cyprus was also being applied to Greece but since it become obvious that it is the so called "too big to fail" it was never implemented in the countries where the European Union gave aid. But after Cyprus, I guess it seems that this type of analogy was abandoned and as you know Cyprus was too small from the start to create a ripple effect on the other European Countries so this was like the experimental ground on which the deal was experimented on. But it can happen elsewhere too. Once the gloves are off, how would you know it can't happen elsewhere? I was talking to a guy about how it can happen in the U.S. but he kept on insisting that we have a guarantee up to a certain amount that the deposits are secured. My point was that, what if there is an emergency, then what, but he was adamant that it cannot happen. But once again as we know that there are no certainties in life and this is also true for the big economies as they are mired in heavy and unsustainable debt. So folks don’t be so sure that this Cyprus deal is a one off event as we are drifting towards unchartered territory and nobody knows what happens in the future.

Can Cyprus deal happen elsewhere?-2

I was just reading an article about how the Cypriots are fearful and bitter about their future and blame everybody for this fiasco. But apart from this fears, what kind of message is being sent to depositors everywhere. If anything above the limit of EUR 100,000.00 is not secure, will the people in all the European Union countries spread their money around so be secure in their mind their money is secure below EUR 100,000.00 or will they try to hold on to their money at home or maybe invest somewhere outside their home country. It is really unchartered territory that the European Union is getting into and the effects of it are really in theory and have not been tried out practically. But for the Cypriots, the nightmare has already begun. As I was reading the article, I just kept on opening the eyes as the scenario that is being played out in Cyprus can also happen elsewhere if not contained. Since the banks are closed or whenever they will open, there will definitely be a run on the banks as the foreigners try to take out as much money as they are allowed slowly and surely. The local people and businesses will be left to suffer as the article says that Cyprus does not have any agriculture or manufacturing to rely on to ride it out of this mess. Will the outside world shun the bank products of Cyprus, how will the people react to this mess as the brain drain will accelerate but since the world's economy is already in shambles, where will the Cypriots go? Although you can say that there can be a hope against hope but it is already gone like the depositors money.