Sir,

I thank you for carrying the three part series on the Stock Market in the columns of People's Voice. It is part of the continuing activities of the party to educate the cadres of the party and of the reading public. It is very important that articles such as these, written in simple language are published from time to time, so that the working class can arm itself with the necessary weapons to defeat the agenda of the bourgeoisie. The articles argue convincingly that the stock market has come to play a central role in the economic life of the country at this time due to the drive of the bourgeoisie to emerge as a player on the world stage through its project of liberalizaton and globalization and in its continual search for highest rate of return, expansion into new markets, which are facilitated by the access to cheap credit.

It cannot be forgotten that these activities of the bourgeoisie have gone hand it hand with the assurances that it has received from successive governments, irrespective of which party has been in power. The original strategy of reorientation of the economy arose in the early 1990s under the leadership of Mr. P. V. Narasimha Rao, assisted by his ministers none other than Mr. Manmohan Singh and Mr. P. Chidambaram, who are today again leading the government in its fiscal policies. The successes and gains of the stock market are a daily feeding frenzy for the mass media, especially the electronic media. Despite the inbuilt instability in this speculative system and its roller coaster rides, the people of India are continually assured by Mr. Chidambaram that the 'fundamentals' of the economy are sound, repeated ad nauseum by the media. As though to underscore this nexus, the major media conglomerate CNN-IBN has declared Mr. Chidarambaram the politican of the year of 2007!

In other words, through their words and deeds the policy makers of the country have left no stone unturned to assure the bourgeoisie that it will cover any losses of the bourgeoisie as it plays this dangerous speculative and gambling enterprise. Eventually, of course, these losses will be underwritten by the masses of India even as they sink deeper and deeper into despair and insecurity.

Communists much engage deeply in questions of the economy and its orientation and take up the challenge of exposing the activities of the bourgeoisie. The detailed research work of the party as exemplified by these articles is an important step in this direction.

Sincerely,
S. Nair, Kochi