Obama Meter - Updated 09.08.29

From the pen of Kalidas
Now that euphoria has died down, let us see how President Obama delivers on his promises. We are focusing
only on economic side of his moves, and may be some political that may have strong relevance to the
economy. The moves with substantial economic effects are listed. Ratings are given on the scale 1 to 10 (+/-)
Comment box is provided for the readers. However, the author may not respond. Read and think it over.
Last Event on Top: Latest Cumulative Rating: 7/120 – updated 2009.08.29

Please scroll the pages down. Each event is listed on separate page and serially numbered.
Ref: 0908-OM-012 Date 2009.08.29 Current Rating (Max 10) -7 Cumulative Rating 7 out of 120
Title An Appointment with Death – Bernanke’s re-appointment as FED Chief
1.0 News/Event/Actions
1. President Obama finally decided on 25th August, 2009 to reappoint Ben Bernanke as FED chief with the
statement “Bernanke has led the Fed through one of the worst financial crises that this nation and this
world have ever faced.”
a. Really? He has sunk the economy into additional $2 trillion debt (death) trap. The total debt,
which now stands at US$ 11.72 trillions as of 27/8 is rising @ $3.7 billions per day or $1.35
trillions per day. That too when the interest rates are all time low. If the rates rise by 3% from all
time low, the debt will explode further by additional $ 400 billions. Think of it – what happens if
the market rates rise to double digits. The interest servicing cost alone will destroy America.
b. Lawrence Summers was having weekly meeting for several months with the Bernanke in possible
preparation for take over. However, it looks like he realized the heat of the raging fire in the
economy that finally forced him to withdraw from the race leaving sole survivor or killer
Bernanke, who is now having open field to play by his and Goldman Sachs Rules.
c. Bernanke and Paulson in the name of rescuing economy played upon the weakened minds of
senators and forced them to sign the rescue package running into $1.5 trillions. They also caused
the new Administration to guarantee the worthless debt of $ 306 billions of Citibank which will
become a national liability.
d. It is obvious that Bernanke can freely play the game orchestrated by Paulson and Goldman Sachs,
which is the only firm making money in billions – reasons – they get advance information what is
going to be like from the White House.
2.0 What did he do?
He reappointed Bernanke for second term – for 4 years – when the economy worsened under his leadership.
His fears were illusory that if he changed Bernanke at this juncture, it would have rattled the market. He was
obviously influenced by the powerful lobby of Paulson and his old firm Goldman Sachs
3.0 What effect will it have and why?
Disastrous. You do not give second chance to a doctor of death.
What he should not have done and why?
1. He should have fired him, not let him go scot free, to set an example that efficiency pays and inefficiency
or corruption gets penalized. FED and TREASURY will no longer be secret, so essential for national
monetary management.
2. Price sensitive information will continue to flow out at regular interval to the interested quarters as above.
3. US economy will be controlled by remote hands with spy unit lying in the Fed.
4. By reappointing him, Obama has brought ruin nearer and faster. One fine morning he will realize the truth.
4.0 What he should have done and why?

1. He should have given chance to some other economists. Bernanke has been direct or indirect architect
since the days of Alan Greenspan.
2. There are hundreds of economists, some even Nobel Laureates in economics, which could have replaced
Bernanke and given access to fresh thoughts for betterment.
3. He should have short listed a few names of leading economists for vetting purpose. Let the best win the
race. It may be noted that what is required is “practical economist” not the researchers or theorists.
4. When Hong Kong Land of Jardine group in Hong Kong, known as Tai Pan, went through the worst crisis in
its history, the Board imported a Corporate doctor from Australia who did fantastic job in shortest time.
The company not only survived but prospered later. Companies and Countries are managed same way.
5. Reappointing Bernanke is like chewing same gum again and again. And, it is nature of gum to stick very
hard. They turn tasteless too on frequent use. They will become difficult to dislodge later. Ask Singapore
government to know about the Chewing Gum. It applies to human like Greenspan in the past and
Penned by Anil Selarka (Kalidas)©2009 Page 2 of 16
Bernanke at present with equal force.
5.0 Verdict:
Bernanke will act as catalyst for America’s destruction. By reappointing him, Pres. Obama has invited the
death. We rate his action to -7 out of 10. It is his gravest mistake yet which will have far reaching negative
consequences. This is why we award him high number on negative side.
Title CA$H for CLUNKERS
Obama’s Misadventure And Americans’ Misfortune
Obama has made “Green” theme as his pre-occupation. When his concept of solar energy backfired, he jumped
onto old car dinosaurs that were considered gas guzzlers. He decided to pay $ 4500 to Americans to abandon
old guzzlers and buy environmentally friendly “green” cars that do not emit smoke. It does not matter if the
electricity required to charge up the new cars might have been produced out of toxic coking coal that emit
more Carbon Dioxide than the gas fuelled old clunkers. Was his idea to create more demand for the American
made cars or just to have only green cars? We do not know. Almost 650000 cars were dumped into scrap yard
being replaced by modernistic green cars.
The money saved by consumers driving old junk cars will save $ 1600 to $ 3200 in 4 years. But they will also
end up paying interest cost of $ 6000 in 4 years. They will lose $ 2,800 on net basis.
Gallons saved Money saved per
Trade-in mpg Purchase mpg Voucher
per year year
Chevrolet
1993 Dodge Ram
12 Silverado (V6, 17 294 $794.12 $4,500
(4wd)
2wd)
1998 Nissan Nissan Murano
15 20 200 $540.00 $4,500
Pathfinder (4wd) (AWD)
1996 Chevrolet Ford Escape (4-
16 21 179 $482.14 $4,500
Astro cyl., AWD)
1998 Olds Aurora 18 Volvo C30 23 145 $391.30 $3,500
1998 Mercury Hyundai
18 28 238 $642.86 $4,500
Grand Marquis Elantra
And who are the buyers? Those who owned junk cars having value of $ 1000 to $3000? What will they do? Are
they going to drive new cars worth $20,000 to $ 45000 for next 4 years? Can they afford it? What will they do
after buying? They will simply sell them in the market to make the instant profit of $ 2500 after expenses.
“Those who wear rags do not wear suits” which Obama did not understand.
Further, Financial Post from Canada suggests that Canada will be one of the major beneficiaries. The Canadian
government has its own similar scheme but they pay only $300 against Obama’s $4500 or nearly 15 times of
1500% more than other governments on planet.
2.0 What did he do?

1. He decided to pay $ 3500 to $ 4500 as rebate to consumers to buy new cars so that nation’s fuel
consumption bill will come down
2. He did not make it conditional that only US made cars of trio GM, Ford and Chrysler would qualify. As
result, largest beneficiaries were Japanese automakers and some cars produced in Canada, that will create
jobs in Japan and Canada, but not in USA
3.0 What effect will it have and why?

1. $ 3 billions will go up in smoke instantly
2. Japanese car makers and Canada will benefit most. The money is spent by US taxpayers and benefits
taken by outsiders (non-Americans)
What he should not have done and why?

1. He should not have announced the scheme at all. It was totally wasteful expenditure. In difficult times, one
has to save every penny, whereas Obama was distributing largesse.
2. He should not have made the Rebate scheme unconditional but limited to only US made cars by GM. Ford
and Chrysler who were thrown into bankruptcy, not Toyota or Honda. That would have created jobs for
Americans with American money. And by the way, where the money came from? From Fed’s printing press
that will be paid by the same Americans in the form of higher taxes which he has proposed from 35% to
39%

If his intention was to save the environment or save on pollution or reduce the fuel consumption by Americans
there was easy way - Ban those cars and revoke their Annual Permits with immediate effects. A single
administrative order would have been sufficient. It could have saved $ 3 billions.
5.0 Verdict:
STUPID Obama. He is losing his sense of proportion rapidly.
We rate his concept, strategy and actions as strongly negative. We award him -2 out of 10, considering
relatively smaller amount involved – just $ 3 billions.
Ref: 0908-OM-010 Date 2009.08.24 Current Rating (Max 10) -3 Cumulative Rating 16 Out of 100
Title
Obama’s Diversionary Tactics Boomerangs on him
– Healthcare Reforms –
President Obama was nonplussed. His trusted FED Chief Ben Bernanke and his baby
bottomed Treasury Secretary Timothy Geithner were not able to bring semblance of
balance in the financial turmoil. The banks were failing, so also he. He designed another
stimulus for $ 787 billions which too were not working. Hank Paulson, former treasury
Secretary, with Bernanke, befooled him into guaranteeing the massive bad debt of $ 306
billions which will become liability of US government. He was seeking wholesale diversion
from the current impasse. He wanted something where the Americans could possibly
focus away from financial turmoil.
Yes, when the people have no jobs they stay home and fall sick or depressed. There lies
solution he murmured. Healthcare is the best part to draw away people from losing jobs
into their own healthcare. The Americans always go to gyms to fit them selves, so why
not let them focus inwards onto their health?
2.0 What did he do?
He recklessly designed Healthcare reforms virtually nationalizing the industry, removing
the Doctor/Patient relationship. He introduced massive $ 1.8 trillion package for which he
did not have any money in the kitty. Why bother, We have Bernanke to print as many
dollars as we want. The reform will extend into 10 years forward when he will be no
longer around.
3.0 What effect will it have and why

It boomeranged on him. The people were agitated. The GOP went totally against him
raising hue and cry through its mouthpiece channel “Fox News”. Hannity was particularly
severe, so also Mike Huckabee, Bill Oreilly and others in female group. It resulted into
Town hall outbursts. The senators and congressmen were facing increasingly hostile
crowd and some even felt that they would be beaten in the presence of all. The cameras
were ready for action. His administration, whether under his direct command or not, it
does not matter, started blaming GOP and compared the Americans gathering there to
“mobsters”, sort of Mafioso. It reminded me of 3 part series of great movie “God Father”
President Obama was not prepared for this hiccup. The hiccup was getting stronger. He
was not able to solve the financial problems, his Iraq was on ire, and Afghanistan was
proving to be stone around the neck. Obviously, he was too optimistic and did not have
Plan B to fall back on in emergency. Nancy Pelosi, the lady of troy, was gaffing one after
the other. No. 8, Barney Frank was also getting restive with his husky voice.
? What he should not have done and why?

President Obama or his party spokesmen should not have compared the Americans into
mobsters. He should not have blamed GOP when he did not have evidence. He should
not have media turning against him by taking Fox News head on. He should not have
made himself available on the TV screen too many times by frequently calling Press
Conferences. It was said that he called for more press conferences in first 100 days than
entire 8 years of Presidency of former President George W Bush. He forgot the first
lesson of politics that “if you want to talk to a thief, you can not call him Mr. Thief. Even
thieves have self respect.

1. President Obama should have kept Plan B and C ready for such eventualities.
2. He could have pacified the people with reason and explanations citing simple
examples.
3. He could have postponed the meeting with not so important leaders in Washington.
4. He could have called the gathering of entire group of Republicans and gave them the
vision of his plan. No one would have had time to go through 1000+ pages of reform
documents.
5. He could have summarized the vital sections of the proposed bill, say in 20 pages, to
inform the legislators what the bill was all about.
• But it seems that his advisers might have told him – sir, we can not convince the
American people, so let us confuse them.
• His famous nod meant that GO AHEAD.
• Have you seen him on the TV? He is moving his head from left to right in
systemic fashion as if he was watching a Tennis match.
• His diversionary tactics failed with the same defensive weapon turning into Weapon
of Mass Destruction for the Democrats.
• His ranking and job approval rating sank to all time low after assuming Presidency.
• He was tired and wanted to retire, so headed for vacation in some Caribbean island.
5.0 Verdict:
He is not acting like a President. His behavior smacks of a partisan leader in democratic society. He is making
simply too many strategic mistakes.
We rate his actions to -3 out of 10

Title Obama’s tirade against rich and famous, taxation policy and hounding tax dodgers
There is no doubt that President Obama is very sincere in his job. He wants to do something and deliver on his
election promise. He is almost scared to death at the size of the economic problem that he has inherited from
President Bush. In his anxiety to do something, he sets down the task of solving the problems without
identifying the cause. In short, he is moving at 120 mph by addressing result rather than cause. He is
extremely angry at the Wall Street for emasculating the problems and still earning fat and obese pay when
most of the working class are losing their jobs. It is difficult to say whether he is really angry or jealous at Wall
Street Bankers’ pay checks or bonus pays. He is singling out the rich persons for his axe and proposes to take
the following actions:
1. To reduce the budget deficit by half by 2013
a. He wants to achieve the budget deficit target partly by ending war with Iraq that may save $530
billions per year
b. He wants to raise the taxes on the rich earning over $250,000
2. He is also following another course through IRS of getting back Rich Person's income abroad by forcing
UBS to disclose 52000 Americans' holding in off shore accounts and full details
2.0 What did he do?
1. He passed $787 billions package giving tax relief to the poor.
2. He is blasting Wall Street and other bankers for excessive pay or bonuses
3. He promises to cut the budget deficit by 50% by ending the war with Iraq
4. He wants to tax the rich persons, who earn $250,000 or more per year
5. He does not seem to object IRS actions asking UBS to disclose the 52000 rich American’s account details
6. He wants to raise the Income Tax on rich from 35% to 39%
7. He wants to raise the corporate tax by similar amount. He wants to raise the Estate duty tax to 45%.
a. In other words, he is not letting wealthy
Americans live nicely by raising taxes,
and also die peacefully by chasing them
to the grave to rob 45% of their death
time wealth.
b. In fact, he should have drastically
reduced the Estate Duty to less than 15%
or waived altogether in deference to the
departed soul and as mark of respect for
their paying taxes for over 50 years via
Income Tax.
c. A dyeing American who had left behind
wealth of $ 7 millions, must have
accumulated it only after paying 35% tax
in the past 50 years. So why does he
want more money from dead Americans?
d. We human normally worship or make
offering to the departed souls every year
by feeding crows ( treated as ancestors in
Hinduism) or cows or poor people as an
act of charity. And this guy is making
everything upside down
8. He wants to increase tax on dividend and capital

gains. This will hurt Dow and S&P 500 again severely.
3.0 What effect will it have and why? What he should not have done and why?
Mostly negative as under:
1. He should not have promoted the cause of employees who lost jobs and discouraging the cause of
employers who create or provide the jobs. He should not have treated both class inequitably
2. He should not have tried to give cash benefits to poor and rob those benefits from rich.
3. He should not be trying to end the Iraq war too soon at the time of recession. Where will he fit the
returning marines in civilian life? Further, defense industry is one of the few industries that still provide
the employments. He is making defense contractors, and with them Pentagon, as his bitter enemy. If he
did not have alternate plan, he should refrain from stopping the present activity.
4. He should not be trying to extract information through IRS from UBS and Swiss government in respect of
rich Americans at this time. He is making rich Americans as his bitter enemy on twin grounds – Higher
taxes in future and also possibly taxing them for their concealed income overseas. It may be a right action
but at wrong time.
a. Further, the Americans act of going off shore is the result of inequitable tax policy. He should
therefore address the cause and not the result.
5. His actions will force the Wall Street much lower because the earnings will go down even further. The stock
market works on EPS and PE ratio. The PE ratio will contract., so will be the stock prices. Same Americans
in the middle class will lose much more in stock portfolio than lousy tax rebates of just $400 or $800.
a. Expect market to go down to 5000 in next 4 months.
b. In the opinion of this Author, the Dow Jones will collapse ultimately to 1500 level with no end in
sight. All policy measures are wrong, populist and extremely damaging to economy and the
Americans, rich and poor alike.
6. With falling markets, there will be further contraction in the housing market, more CDO/CDS will fail and
whole chain will repeat itself in most disastrous fashion.
7. While everyone is talking about current trouble reminiscent of 1930 depression, the Dow Jones had not
even traded to 1987 level of about 3000. It is still trading at 7200. In other words, the Dow Jones is
overvalued by 4000 points by 1987 standard and 5800 points by 1930 depression standard.
8. There is no doubt that Obama has gone crazy. He is lowering the economic activity by his silly tirade.
When the markets are very low, and losses so humongous, he has to raise the volume, not lowering them.
a. For instance, presume one is selling item A for $5 in good time which earns 10% or $ 0.5. If same
item goes to $ 2 and the profit margin remains same, he will make profit of $ 0.20. If he has debt
of say $ 10,000, it will take 2 ½ times longer time to repay the debt. He may also file the
bankruptcy because under no circumstances he will be able to meet the debt.
b. If same item had gone to $ 10 due to inflation, and he still makes 10%, he can reduce the debt
by $1 or twice the amount earlier. He can now repay the debt in half the time than before. In
depression or recession, the people make money on volume, because the people lose pricing
power, so the profit margin goes down. We are presuming same profit margin which is too
optimistic and highly unrealistic.
9. In short, he is alienating rich class, rich Americans, Corporate sector, Wall Street bankers, defense
contractors, Pentagon officials, and employers; and converting them into staunch enemies.
10. It is possible that many American corporations would start shifting their Head Quarters to overseas centers
like Hong Kong where the taxes are just 16% or Singapore where the taxes are near 20% or about. You
will find mass exodus of wealthy Americans and good Corporate citizens like pharmaceuticals, companies
like Philip Morris (now new name), Computer companies etc. who already have manufacturing base there.
This will cause further massive job losses in USA.
11. Obama is pushing his country close to civil war. In effect, he is raising real possibility of physical violence,
including top level political assassinations. With guns being freely licensed in America, expect more shoot
outs from unsatisfied Americans.
1. Good intentions should always be accompanied by good timings.
2. He should treat entire population equitably. All Americans are equal – be they Rich or from Middle Class.
3. He should stop his tirade against rich and famous. He is living in America, not in third world countries.
4. He should make the job providers as his friends, not enemy. How long will he go on feeding unemployed
with state funds? He should hold negotiations and discussions with business leaders to find the ways and
means to help them create more jobs and give them whatever concession they want as emergency
measure.
5. It is agreed that Iraq war has to be ended. If he brings back trigger happy marines back into civilian life
and them feel frustrated for want of job opportunities, he will be opening up war front in the US itself.
Already, the suicide rates amongst marines are rising alarmingly.
5.0 Verdict:
His approach is puritan, not practical. He is creating more problems than solutions. Pragmatism, not idealism,
is the key. Beware President Obama. Note the following:
• The nation needs you most at this critical hour.
• Only you can do it what you want to do. However, do it right way at right time.
• Do not make more enemies within your own establishment. You need more friends now.
• Your policies are hazardous to your own existence. If there is life, there will be actions.
• Save yourself before trying to save America.
• Be a leader, not the victim.
There is nothing positive except intentions. Good intentions are to be translated into good actions where he
fails miserably. The tremendous pressure on him shows up now. He should redress the cause rather than
reacting to results.
We therefore rate his action in medium single digit negative. We rate him -4 out of 10
Ref: 0901-OM-008 Date 2009.02.20 Current Rating (Max 10) 3 Cumulative Rating 23 out of 80
Title Passage of American Recovery and Reinvestment Act 2009
Popularly known as Stimulus Package, the ARRA or American Reinvestment & Recovery Act 2009 was passed
into law on 17 February, 2009. It was part pro-active and mostly Charitable. It was also populist measure
which is not going to work. What relief of $ 400 and $800 per year or $ 1.35 per day to $ 2.70 per day is going
to help the people and boost the economy? President Bush earlier gave Tax rebates check of $ 108 billions
which was evaporated in matter of days. Tax Benefits are best given during boom times, when the people have
income to pay the taxes. During depression, when the people lose jobs, there is no question of paying taxes
anyway.
Tax relief appears to be useless measure in

boosting recovery. Such measures are helpful
during good economic times, when the people
earn more and saving on taxes help them
spend more in retails. In bad economic times,
the people lose jobs. Saving $ 400 per year or
$ 33 per month is not going to help them. It is
a wasteful move.
The package was also directed at employees

than the business who provide the jobs.
Further, during such hard times, money has to

be spent in that area from where we can have
immediate benefits, not the benefits extending
after 10 or 20 years. His emphasis on
renewable energy was useless. It was more
like “If and But, when and then”. This source
may be developed after 10 years or 20 years,
but the actions required now have to deliver
result in 10 months. Further, higher oil prices
are now history. Why use obsolete items?
2.0 What did he do?
• Fiscal relief was regressive and more charitable type. It will not boost the economy. Obama’s emphasis
was on saving taxes to give benefits, whereas thrust should have been to spend hard cash on projects that
pumps cash into the system.
• How development of Broadband, computerization of medical record is going to boost economy, he alone
knows. His reliance is more on service industry that does not create further jobs. If manufacturing is
encouraged, it creates more supplementary jobs. For example, higher sales at Auto majors will create further
jobs in support industries, wholesaling and retailing.
• His approach is idealistic such as spending money on “Renewable energy resource” Such programs have
long gestation period with no definitive or guaranteed result. It is more research oriented, may or may not
succeed in future. High oil prices were aberration in Mid July, now it is all over. Such projects are better
financed during good times, not bad times.
• Protecting vulnerable is a populist measure. Spending $ 82 billions is very large amount. It is inflationary,
because no work or service is returned on disbursement.
• Spending on Infrastructure to boost the economy is fine. Because money spent creates jobs and people
are paid for the work or job done. It is not inflationary either. This is an immediate spending measure that
boosts cash into the system.
• State and local fiscal relief is okay. Their finances are stretched. Giving them relief is job positive because
the jobs will be protected.
Mostly negative. In less than 4 months Obama will realize that the stimulus did not work as intended. The
package will be 70% failure and only 30% part success. This package is inflationary
• The economy needed direct spending that is pumping in more money into the system which can ease
liquidity.
• Saving on taxes yield delayed benefits near the end of the financial year. Expenses saved do not boost
cash into the system, spending does.
• He should have given tax benefits to employers who can save or created jobs. Further, the Corporate are
listed entity, individuals are not. If $200 billions tax benefits are given to corporate sector, it will bring in $
2.4 trillions into stock market, because the stocks usually trade 10 to 12 times P/E. Tax savings to
corporate raises the earnings of the company.
• Individuals are not listed on stock market. So any benefits to them do not bring in more money into the
market.
• If the market improves due to corporate tax benefit, the portfolio of Americans will improve, that will
increase their income more than pittance thrown at them now in the form of tax relief to individuals.
5.0 Verdict:
Hopeless package that will fail. It may win 30% and fail 70%. We therefore rate his actions as 3 out of 10
Title Obama divides America – About Strong Middle Class – Revival of Robin Hood?
President Obama campaigned for strong Middle Class and created Middle Class Task Force to be headed by his
deputy Vice President Joe Biden. He also encouraged indirectly the Trade Unionism. He said “For two years I
traveled across this country. I met thousands of people -- hard-working middle-class Americans who shared
with me their hopes and their hardships. These are the men and the women who form the backbone of our
economy. The most productive workers in the world. They do their jobs. They build the products and provide
the services that drive America's prosperity.” For full text, refer to White House blog at
http://www.whitehouse.gov/blog_post/Todaysevent/
2.0 What did he do?
When the need of the hour is unity, he created Class – Middle Class, Poor Class (people) and Rich Class
(People). At wrong time, he fostered the spirit of militancy in the name of “Trade Unionism” who usually rebel
in the troubled times, and cause more impediments than co-operation. While strong middle class is the sign of
increasing prosperity, he forgot that “middle class is the result, not the cause”. It is the upper segment of the
society – Rich people – the real risk taker – who creates the jobs. If there is no rich class, there is no middle
class. In short, he is trying to become a 21st century version of “Robin Hood” – rob the rich, enrich the poor.
He also said “They need action -- now. They need us to pass the American Recovery and Reinvestment Plan --
a plan that will save or create more than 3 million jobs over the next few years and make investments that will
serve our economy for years to come. We intend to double our capacity to generate renewable energy while
redoubling our efforts to use energy more efficiently. We will rebuild crumbling roads and retrofit aging transit
systems and renovate 10,000 schools for our children, and we'll bring health care into the 21st century by
computerizing medical records, counting -- saving countless lives and billions of dollars”
Negative. He will be outdistancing the rich people who are the real investors in the economy. Without them,
the growth will be stunted no new factories, no new business activities, and the very present middle class will
recede into poorer class. He was having misplaced priorities. He is wrongly trying to spend his way out of
economic slump. How building of 10,000 schools, computerizing medical records, renewable energy are going
to improve the lives of the Americans? The benefits if any are at least 2 decades away. The medical records are
already computerized – go to any clinic or hospital. Renewable energy? They are years away and very costly
than present gas oriented energy. If people have money, they can afford to spend more on gas. Billions of tons
of gas and oil is still lying below the surface – first exploit them for immediate needs, then think of the future.
Such development measures are taken in best of time, not in worst of time.
President Obama is trying to be philosophical and receding to leftism in capitalistic America. He has to address
the root cause of the credit crisis – which was derivatives floated in off shore centers. They were not the
domestic liability of the local American people. He should not have allowed the Wall Street Bankers and banks
to transfer their “off shore” obligations to “on shore” and thrust upon the local Americans. He should order all
off shore companies to die natural death, instead of bringing their carcasses on shore. There was absolutely no
need to finance off shore obligations of banks and brokers who did not create domestic jobs or contributed any
taxes to the state at first place at any time in the past. So why finance or guarantee their obligations?
5.0 Verdict:
We rate him negative for self defeating exercise: -3 out of 10
Title President Obama lashes out Wall Street Bankers
President Obama today said it was "the height of irresponsibility" for financial corporations to have doled out
$18 billion in bonuses to their employees in a year when many banks shed jobs and turned to the government
for funds.
2.0 What did he do?
He severely criticized as above the financial sector for paying too much to the Wall Street bankers. The number
given was $20 Billions when the same institutions were seeking Federal bail out. He relied mainly on article
without verifying the authenticity. He bunched together every Wall Street banker for attack, little realizing that
all bankers were not the same.
It will have demoralizing effect on financial sector when he needs them most to revive the economy. The
person who fixes the trouble will normally seek more. If he is reticent about paying the concerned people more
than normal price in troubled times, he will alienate them and will get only poor quality people to do the same
job that will eventually cost more. Further, the number of $ 20 billions appears to be debatable. Let us
presume that $20 Billions were paid to Wall Street bankers who may number about say, 250,000 on liberal
basis that means that $80,000 would have been paid to each of them (of which $ 20,000 will return to the
state in the form of Income Taxes). Is it believable? Further, he should not have engaged into blame game –
which is called in my culture – Women’s talk. What purpose would it serve now? He is already President – not
on election trail where he can afford to allege whatever he wants without verifying the source.
Instead of engaging in blame game, he should focus on what needs to be done, instead of what should not
have been done for which there will be enough time to dwell back into the past. Not all the Wall Street bankers
are the black sheep. He has to search for the brilliant ones who may not have risen to prominence and subdued
by inefficient superiors in the past. These are the people who will bring out the solution. The economists are
mostly theorists – they do not have front line experience. They can’t resolve the present crisis. Those who have
hand on experience on the front line alone will be able bring in solution for acute financial crisis. There is a
saying in my culture that “Only Iron cuts the Iron”. That is, those who caused the troubles know best how to
get out of them.
5.0 Verdict:
Very poor and impulsive performance on the part of the President Obama. He has to control his impulses. This
is not popularity contest that he can afford to play to the gallery. We therefore rate him –2 of 10. He does not
deserve any positive assessment on this count.
Title Obama’s Pompous Plan to stimulate economy - $825 billions in drain pipes.
Obama proposed $825 billions stimulus package called American Recovery and Reinvestment Act. House of
Representative passed this without the support of a single Republican vote. It will now go to Senate for
approval. According to Obama, the package will save or create 3 millions of jobs. How, he did not specify. His
area of thrust will be Education, renewable energy, tax cuts, lowering of health care costs.
2.0 What did he do?
He proposed the following measures:
• Tax cuts ($275 billion):
• Payroll tax cuts ($500 for each individual, $1000 for couples)
• $2500 tax credit for higher education
• $7500 non-repayable tax credit for first-time home buyers (for houses bought until July 1)
• Education investments ($141.6 billion):
• $79 billion in state fiscal relief to prevent cutbacks to key services, including $39 billion to
local school districts and public colleges and universities distributed through existing state
and federal formulas, $15 billion to states as bonus grants as a reward for meeting key
performance measures, and $25 billion to states for other high priority needs such as public
safety and other critical services, which may include education
• $41 billion to local school districts through Title I ($13 billion), IDEA ($13 billion), a new
School Modernization and Repair Program ($14 billion), and the Education Technology
program ($1 billion)
• $15.6 billion to increase the Pell Grant by $500
• $6 billion for higher education modernization
• Health care investments ($112.1 billion):
• $87 billion for a temporary increase in the Medicaid matching rate for the states
• $20 billion for health information technology, including electronic medical records to prevent
medical mistakes, provide better care to patients and introduce cost-saving efficiencies
• $4.1 billion to provide for preventative care and to evaluate the most effective healthcare
treatments.
• Welfare/unemployment ($102 billion):
• $43 billion for unemployment benefits and job training
• $39 billion for short-term Medicaid insurance and Consolidated Omnibus Budget
Reconciliation Act of 1985 (COBRA) subsidy
• $20 billion for the Food Stamp Program
• Infrastructure investments ($90 billion):
• $31 billion to modernize federal and other public infrastructure with investments that lead to
long-term energy cost savings
• $30 billion for highway construction
• $19 billion for clean water, flood control, and environmental restoration investments
• $10 billion for transit and rail to reduce traffic congestion and gas consumption
• Energy investments ($58 billion):
• $32 billion funding for an electric smart grid
• $20 billion for renewable energy tax cuts
• $6 billion for weatherizing modest-income homes
Mostly negative. Only some parts are positive. Obama’s priorities are ridiculous. When need of the hour is to
have immediate short term measures, he is talking about investing into projects which have much longer
gestation period and they are at best indirect contributors. He is also trying to spend his way out. Further, he is
adopting nonsensical approach towards “renewable energy resources” which will take years to bring that
technology into production. Now, is not the time to go for something that has lot of contingencies. Let us see
his itemized proposed expenditure:
1. Tax Cuts: How payroll tax cuts of $ 500 and $ 1000 for singles/couples is going to boost economy? It is
just $ 40 to 80 per month that can be consumed in few cups of coffee. If the people retain jobs that pay
them $ 3000 to $ 5000 per month, they would not mind paying taxes of $ 500 or $1000. This is populist
measure. President Bush gave away Tax Refund Checks of $100 billions that disappeared within minutes.
The only good measure was to give $7500 towards non-repayable tax credits for first time homebuyers
before July 2009. However, when the Home finance credit is virtually not available, where is the question
of buying homes, and avail the benefit of tax credits? These provisions will remain only on paper/
2. Education Investment: It is okay funding the states for providing key services. However, most of the state
expenses are related to providing urban services. Nothing has been addressed to this important sector.
Any investment in education will bring in benefits over the years, not immediately. The current demand on
Obama is to find immediate solution to credit crisis, providing bank credits to businesses so that they do
not fire employees
3. Health Care Benefits: Again, they are wasteful expenditure in most cases if not all. While Medicaid could be
justified, how to visualize that Health Care Technology and Computerization of Medical Record is going to
increase or boost the economy? Are we to believe that in advanced country like USA, there is no
computerization of medical records?
4. Welfare/Unemployment: He is addressing result, not the cause. If the cause is addressed, there will be no
result in the form of unemployment.
5. Infrastructure Investment: This is the only measure that may yield economic benefits, preserve or provide
jobs that will really contribute towards economy.
6. Energy Investment: This is nonsensical. It will take years, decades before one can see the benefits of
renewable energy. Oil or Gas is still a mass commodity that is available in abundance and cheapest. All
present cars use these resources. Renewable Energy, Green Energy is lucrative and destructive titles.
His immediate focus should have been more on Industrial sectors that provide jobs, taxes, and boost the
economy. None of his expense side, except some infrastructure expenses, will preserve or create jobs, give
real money to the Americans. None of his measures is addressed to Industry.
There is not single measure that may revive the demand for industrial goods, such as Cars. He does not even
bring in new Industrial activity into USA that may provide employment on mass scale, such as Textiles and
garments, world’s largest creator of employment.
There are 330 millions of Americans each of whom has and uses at least 20 pieces of garment covering all
seasons, most of which are imported. That is cool 6.6 trillion of pieces. If only 20% is made in USA, it will make
1.2 trillion pieces of garments in USA. If a worker in China makes about 10 pieces of garment per day or 3300
per year, it will create direct employment of low skilled Americans by 400,000. The indirect employment for
transportation, retailing and wholesaling extra. Give massive tax benefits, direct subsidy to bring back this
sector home. It may be noted that US is the largest producer of Cotton most of which is exported. No value
added services are provided here.
There is no attempt to bring back manufacturing of high tech goods from developing world. There is also no
attempt to stop the outsourcing of goods and services from developing countries where the jobs have
migrated.
He has not announced even a single measure that will give incremental benefits to those industries that move
the jobs back into United States. There is no reason for highly literate and educated skilled American workers
to waste their time at home doing nothing but drinking beer or wine, when they could have been gainfully
employed in other industries, say making computers in USA rather than in China or Taiwan, computer services
such as call centers from India to USA, banking services and back office jobs back into USA rather than letting
them migrate into other South Asian countries.
5.0 Verdict:
Wasteful budget. Obama simply does not know what to do to face the economic challenges. He is trying to
distribute charity, treating self respecting Americans as beggars. Americans need jobs, not few hundred dollars
here and there.
It is hopeless package that will dump $ 700 billions out of $825 billions into deep hole and virtually
unrecoverable. We rate his actions overall –6 out of 10 and adjusting 2 points for correct actions in
infrastructure spending, overall rating comes down to –4 out of 10.
Title Obame to Iran – Unclench the fist
President Obama exhorted Iran to unclench the fist and come forward.
2.0 What did he do?
He conveyed the above message in a media interview.
Positive with a pinch of salt.
He could have straightaway invited Iran for talks at the highest level, that is, extending open invitation to the
Iranian President Mahmoud Ahmadinejad to White House within 2 months. By setting the deadline, he will be
pressuring the Iranians to use the bilateral diplomatic process in time bound program. By doing so, he will be
also befriend the Europe and other western countries telling them that he did give opportunity to Iranians to
resolve the impasse by foregoing the ego and negotiating the solution using diplomatic process.
The military actions later would be justified if Iran does not accept the invitation and attend the bilateral talks.
I am sure that the President Mahmoud Ahmadinejad will accept this invitation and attend the talks to sort out
the talks bilaterally. In fact, the US-Iran relation will improve at the fastest pace.
Mr. Mitchell’s efforts in the Middle East will receive tremendous credibility from the Arab Press and the media.
It should be noted that all future White House releases, relating to foreign policy, should be released in more
than one language – Official English language + the national language of the country to which it relates for
informational purpose (With English version classed “Official” to prevail over the translated version).
Often the official statement is subject to the misinterpretation or wrong interpretation in the country of
destination. It may be innocent mistakes, deliberate attempt to derail the process or deride the Americans. By
releasing the translated version at same time or within 48 hours, will avoid lot of misunderstanding and also
expose the wrong doers in their own nation and internationally. It will be a great blow to irresponsible
incitement.
This will speed up the message to the concerned region or the nation to which it relates. This is extremely
important.
5.0 Verdict:
Good overture, President Obama. This was the right thing to do. We rate your actions 8 out of 10
Anil Selarka (Kalidas)

Hong Kong, January 28,2009
url: http://anilselarka.com
Obama overtures and Author’s Conclusion proved right in 3 days

2009/01/29 - Only 3 days later, Author’s conclusion above proved correct. New York Times reports that Iran has given
“reserved response” to Obama’s overtures. While Mahmoud Ahmadinejad of Iran sought apology from US for its actions
over 60 years (Author: nonsensical approach at this time – either accept it or reject it, do not qualify it), he also said
that “We are waiting patiently,” referring to the policies of the new administration. “We will listen to the statements
closely, we will carefully study their actions, and if there are real changes, we will welcome it.”
AUTHOR: It shows Talks do work. Obama won first round. Mr. George W Bush, where are you? Are you listening?
Title Closing of Guantanamo Bay detention camp
President Obama ordered the closure of notorious Guantanamo Bay detention camp, Details were lacking about
the fate of the prisoners held without trial. Three Executive orders (EO) were signed by him as under:
EO-1: Closure of Guantanamo Bay detention camp: as soon as practicable, but no later than 1 year from EO.
EO-2: Review of Detention Policy Options: a Special Task Force on Detainee Disposition (Special Task Force) to
identify lawful options for the disposition of individuals captured or apprehended in connection with armed
conflicts and counter-terrorism operations (Highest level membership was constituted)
EO-3: Ensuring Lawful Interrogations
Full Text of Executive Orders - Source White House
url: http://www.whitehouse.gov/briefing_room/executive_orders/
2.0 What did he do?
All orders were descriptive rather than decisive, except EO-3 where he revoked all past Executive Orders,
including CIA, from Sep 2001 to July 2009. He ordered the closure as he promised during election campaign.
However, the detainees may be freed after long time and deliberations. It is indirectly continuing status quo –
they may be held elsewhere instead of at Guantanamo Bay.
Positive to the world, and Negative to the Americans, especially Republicans. He should not have continued the
detentions if no charges were laid against the detainees. About 800 were held from 2001 onwards, of which
500 were released. About 300 may be awaiting trial, prosecution or release. Many of them are held for over 6
years.
He should have gone a step further to demonstrate that American justice system works.
1. He should have regretted, if not apologized, to the people held without trial for number of years.
2. He could have announced flat compensation, say $ 10,000 per year of detention, to those held without
trial to compensate their family of the loss of income and for suffering the pain of separation. This would
bring smile to those who were detained without being charged or put on trial, will water down their anti-
American feelings and assuage the spirit of revenge. Even their family members will tell him to recognize
the value of monetary compensation and respect the American justice. Forgive and forget, they will tell
their victim-relation. It would cost about US$ 12 Millions by way of compensation, presuming about 200
would be freed. It is peanut for the US government. It is small price to pay for peace and friendship.
3. The compensation may work out to US$ 60000 per detainee – very large amount for detainees from poor
countries. This will be the cost of their freedom harnessed for 6 years. This is a small amount compared to
goodwill that may be earned. The purpose should be to kill the spirit of terrorism, not the terrorist himself.
Such actions will turn Anti-Americans into Pro-Americans.
5.0 Verdict:
Good immediate action. However, he missed the target by few yards for not disclosing full details, not
regretting holding the people against their will without any charge, and not compensating them even modestly
for wasting their life’s best years in prison.
We rate his action 7 out of 10, deducting points for not doing what he should have done to complete the
process.

Title Obama’s First Interview with Arabic TV media
President Obama gave first ever interview with Arabic TV Channel – Al Arabia- informing the Middle Easterners
“Americans are not your enemy” – a radical departure from Bush policy of non-engagement. He did not
elaborate further. It was a positive overture, a break from the past.
2.0 What did he do?
He did not waste time to take bold initiative on Foreign Policy even before Hillary Clinton got into her shoe. He
tried to close the “communication gap” that was the hallmark of Bush Administration.
Positive. Arabs may be skeptical at first, looking for more real actions than words alone. He did very well in
choosing Arabic channel to air the interview. However, choice of channel was not a good one. Al Jazeera is
more acceptable to Arabs. Even Osama and Jawahiri uses them for broadcasting their tapes and intentions that
proves that Al Jazeera was more acceptable to local people. Al Arabia considered American friendly to put it
mildly, is seen by Arabs as “traitor to Islamic cause”. He spoke only in English without instant translator by his
side. Very few Arabs are literate enough to understand English.
Apart from reconciliatory remark, he should have taken token initiative to tell the Islamic nations that he
meant what he said, and his actions were just the beginning. Speaking to Arabs in their own language will
assuage the feelings and bring him closer to the local people. Yes, he can’t speak in Arabic language, but he
can keep the translator ready by his side to translate instantly what he spoke and intended. Nevertheless, his
approach was in right direction and welcome departure from Bush policy. He excelled.
5.0 Verdict:
Very good beginning to resolve the impasse. We saw the glimpse of an humble American ready to act on
positive side. On this issue, we rate him 8 out of 10

Title President Obama’s Inaugural Speech
Mr Obama on his first appearance before the nation as President of United States re-displayed his skill as
powerful orator, different from President Bush, who was a poor communicator. However, the first Presidential
speech was more rhetoric than of substance See the full speech here: Obama's Inaugural Speech
2.0 What did he do?
He was dwelling into the past glory of the United States. He was abstract for the future and proposed to do
many things without being specific. The speech was more reassuring rather than inspiring. Yet, he was flawless
speaker – continuing his election campaign. It is a great asset for him. He can use it well if he can infuse some
specifics and substance.
Neutral to negative. The economic situation is worsening day after day. His response should have been pointed
and radical. The markets look always for direction. It could not get from Bush, Bernanke and Paulson, so it
retreated strongly backward in the past. President Obama did not show any direction either. Only the
leadership changed, the problem and confusion remained.
He was elected on November 4, 2008, almost two months ago, and had enough time to formulate his action
plan behind the screen. He could not. He tells us that he is in total dark how to confront the economic crisis. On
very first day, he should have initiated at least some action, however small, to demonstrate that he is control,
that he is the person Americans may safely look up to.
5.0 Verdict:
Good speech but without substance. Nevertheless, it was normal beginning. We rate him 6 out of 10


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From the pen of Kalidas

Last Event on Top: Latest Cumulative Rating: 7/120 – updated 2009.08.29

4.0 What he should have done and why?

2.0 What did he do?

3.0 What effect will it have and why?

What he should not have done and why?

4.0 What he should have done and why?

3.0 What effect will it have and why

? What he should not have done and why?

4.0 What he should have done and why?

We rate his actions to -3 out of 10

8. He wants to increase tax on dividend and capital

Tax relief appears to be useless measure in

The package was also directed at employees

Further, during such hard times, money has to

Anil Selarka (Kalidas)

Obama overtures and Author’s Conclusion proved right in 3 days

Anil Selarka (Kalidas)

Anil Selarka (Kalidas)

Anil Selarka (Kalidas)

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