The graphics department seems to be the strongest and most inventive in all developer companies as this beauty shows.

 Reality is not always probable, or likely.  - Jorge Luis Borges

Chandan Sapkota has a good post on his blog titled

Real estate, housing and banking crises postponed in Nepal

The slowdown in real estate and housing sector, which was enjoying unnatural growth thanks to high remittance inflows and easy credit from bank and financial institutions (BFIs), is affecting pretty much every aspect ranging from land transaction to restaurant and dance bar business to political donations. The investors and BFIs are increasingly worried about the future of this sector and banking industry.

Fearing excessive risk to BFIs, the NRB last year directed them to bring down their exposure to realty sector to 25 percent, from about 30 percent, of total loan portfolio. It also restricted personal home loan at Rs 8 million.

When so much remittance money flows into the country, generous interests rates are being paid on deposits, these funds need to be put to use in the form of loans.

Hence, money continued to flow to real estate and housing sector— estimated to be over Rs 120 billion—without much scrutiny, leading to multifold rise in their prices in matter of months. People took out loans to purchase inflated real estate and housing assets.

But, it was just a bubble. It started to lose air when growth of remittance inflows slowed down in 2009 as a result of the global financial and economic crises. All of a sudden real estate and housing prices tumbled.

With the typical effect of a deflating bubble:

The president of Nepal Finance Companies’ Association argues that as much as 75 percent of real estate sector borrowers are not honoring interest payments.

Definitely worth reading in full.

his decision to withdraw beloved ambassador DeLisi from Nepal. Nepali women congregated at Pashupatinath intoning cries of mourning, some ripped their blouses off and showed their breasts, a typical sign of utter devotion of Hindu women.

Nepali women are known to have grown very fond of the semi-bald gentleman from Minnesota with his aura of white hair and an impeccably groomed beard. He was a father-like figure to them, cuddly, easy-going and sometimes fond of a clear word or two.

However, the White House is yet to name the new US ambassador to Nepal. Rumors are that Mr. Saint Orum might be selected, should his bid for the presidency go down the drain. Nepal would be the right place then, god forgive the pun.

We would be the last to deny that you, Dear Nepal, are the greatest seducer. Seduction rests on many things, size being one of them. There you go.

However, and we would like to let it transpire in the most sublime way possible not least because we have subscribed to chivalric values. You see, Nepal, when you ask a woman if she wants to step into the sheets with you and she says no, chances are she may not feel like. You could of course ask a second time after having thrown a couple whiskeys back. If it is still in the negative, you really might want to book Real Doll instead.

We have been reading this rather questionable offer “Visit Lumbini Year 2012″ here, yet we are not quite sure whether you have adequately listened to your customers. Should we say you did not get the refrain of those that stayed away in your “Visit Nepal 2011″? After all, a year that has barely ended a month ago. Still you feel the need to pester potential tourists with an offer they should rather say NO to. You are not Don Corleone.

Lumbini …. oooohhh,  it rhymes with boredom in sweltering humidity. Lumbini …., yes, you are located on Nepali soil, and no, you were not located on that soil when a certain young man chose to be born here … in the form of a white elephant, because with the same logic the American Indians could claim to have founded APPLE.

Why don’t you just relax a little, Nepal, take it easy, let the cultural impressions of your recent visitors sink in and grant them time to slowly absorb civilization again? You see, Nepal, hospitality is a wonderful trait and to be offered in measures, lest people do not get the impression you were merely eying their wallet.

Some lucky few trusted with the noble duty to keep the remittance economy humming.

The Nepalese government has every reason to be proud of its achievement in 2011. While the world economy is in slomo, the Baltic Dry Index pathetic, nothing but good, meaty and juicy news from Nepal:

Remittance inflow sees sustainable increase

The remittances inflow has seen almost eight times increase in five months to Rs 133.19 billion from Rs 17.7 billion in the current fiscal year.

Rejoice as this is further proof that sending your youth away to work is a much better source of gaining revenue than investing in education, job training and jobs.

The increase in the remittance inflow will be equal to over 20 per cent of the gross domestic product (GDP).

It would not be the first time that the World Bank gets it wrong such as with this assessment:

Despite the global economic crisis that has impacted private capital flows, remittance flows to developing countries have remained resilient, posting an estimated growth of eight per cent in 2011,

It is not despite but because cheap labor is sought that countries like Nepal can send their future away.

The negative effects need not interest the Nepalese government as they can rely on the development bimbos and charity blokes. Negative effects like decreasing payments into the social and retirement funds are the result and this can amount to:

According to the central bank, under transfers, pension receipts, however declined by 19.6 per cent to Rs 10.93 billion.

And neglecting vocational training, higher domestic education, investment into schools and universities etc etc. is of course hardly an attraction for foreign investors:

“Similarly, under the financial account, foreign direct investment (FDI) flow recorded Rs 3.20 billion compared to Rs 3.58 billion in the same period a year ago,”

So IOW, Nepal is finally on a sustainable path towards guaranteed poverty shouldered by its young workers. To achieve this it needs a beastly religion (Churchill) and the unwavering support of the hypocritical development flotilla.

We thought Sir Winston C. had it quite right when he mused about this (social??) aspect: Although personally I am quite content with existing explosives, I feel we must not stand in the path of improvement.

The government of Nepal has certainly subscribed to that.

Wen Jibao’s plane had hardly left for Qatar, the huge red carpet still in place, when Nepal’s follyticians went into full dharma mode. Sevenhundredfiftymilliondollars in aid, sevenhundredfiftymilliondollars to squander, doing what they are best at: sucking up for aid money, chief government dude and former mass murderer PM Bhattarai and his ilk went down on the carpet to extend their felicitations towards the east. Towel Daddy in the south not amused.

“Ni Hao and where can I drop off the 750 million dollars before I leave your wretched country for Qatar? And BTW, thanks for containing all those mischievous elements.”

It was a whirlwind visit by the Chinese Premier which was originally slated to be weeks earlier but, unfortunately, one Nepali dumb ass spilled the news prematurely and so the Chinese cancelled that visit. This time they just had to rub a little more salt into the wound by only staying for four hours in K K K Kathmandu. Still, you can’t complain about 750 mill dol for just four hours work, right Nepal?

Where can the blokes use that money? How about some developing of a small airport at Pokhara, a tourist resort, and in building mountain highways and a hydropower plant. And the nuttiest of all ideas, into an international airport in the Terai.

Seven five zero mill is peanuts for China but a ginormous sum for the adjacent country to the south. Just compare this with this and you get the picture.

The target of attracting one million tourists in 2011 set by the NTB, the Nepal Tourism Board (pictured above) has been fully achieved. Actually it could have been two million tourists, had only just one million four hundred fifty five thousand and fifteen tourists more elected to visit the erstwhile Himalayan kingdom.

The bold target set by the NTB and meticulously executed under the bold and wise leadership of Khagendra Thapa Magar, Nepal’s shortest man, is widely hailed as yet another yard stone in the continuing progress of this country. Nepal managed to attract more tourists and decreasing income, a feat in itself, and the East of Nepal seemed to be on another planet altogether. Time to reflect and march on with a decisive ke garne.

Lest we forget, there is more good news. The sheer awesomeness of the NTWHY 2011 created oodles of jobs with the pleasant effect of 2.5 million Nepali youths abroad in search of jobs.

It literally blew his shoes off and Mr. Yadav had to be guided by his daughter to get his shoes back on. The tying of his shoe proved to be very cumbersome.

It would amount to a blatant disservice of this great leader not to mention his great campaign which literally blew his opponents down and out. Here one of his campaign posters that just made the difference.