Number Posted August 19, 2013 Posted August 19, 2013 ^ No matter what support Congress :nice: I think weakening economy is just a state of mind.
diga Posted August 19, 2013 Posted August 19, 2013 Govt getting desperate... India will ban the duty-free import of flat-screen televisions from August 26, the government said in a statement on Monday, adding to a package of measures designed to prop up the rupee by stemming the flow of foreign currency out of the country. Government officials estimated that more than 1 million television sets were brought into the country last year -- many from Dubai, Thailand and Singapore -- under a scheme that allowed airline passengers to bring in screens worth up to 35,000 rupees as part of their baggage allowance. Under the new rules, passengers will have to pay a 35 per cent duty and other charges, the officials said Isnt this a tiny avenue to stem the rupee fall?
ravishingravi Posted August 20, 2013 Posted August 20, 2013 Rupee at Rs. 63.80. "Govt measures are hopeless, I am not optimistic on India: Jim Rogers Legendary Wall Street trader Jim Rogers says the measures taken by the Indian government and the Reserve Bank recently to improve the macro-economic sentiment and arrest the fall of rupee have not yielded any results and have instead made the situation worse. Singapore-based Rogers, who is chairman of Rogers Holdings and Beeland Interests Inc, says the government just doesn't understand economics. "Debt is rising and the balance of trade is going higher. The government is making more mistakes and that's not going to solve the problem," he said in an interview to ET. Edited excerpts: The government and the Reserve Bank have announced a slew of reforms and policies this year to revive economic growth. What is your view on these measures? I have been shorting India due to many reasons. The currency is in a mess, the country has very high debt, and debt-to-GDP ratio is going up every year. I am very concerned about the fiscal deficit and the current account deficit situation. The measures taken by the government are hopeless, they are making things worse. The measures for exchange control are bad and the restrictions on gold are making things worse. How ferocious is the current bear market? India currently has serious problems, and I am not optimistic about India. India is a very exciting country to visit, but as far as stock markets is concerned, I am not hopeful. The rupee touched a new low of 63 on Monday. Do you think it can test 65 levels? I am short on India because of the currency, and one of the reasons why I am making money is because the currency has gone down. I don't know what's going to happen to the world or to the Indian government. But I am judging Indian markets every day, every week, every month. So far, the government is making more mistakes and that's not going to solve the problem. Debt is going higher and the balance of trade is going higher as well. The Indian government just doesn't just understand economics. Your prophecies on commodities have always been true. Which are the commodities you are currently betting on? I always like things when things are depressed. I would look at sugar as an opportunity, as it is down 75% from its all-time high. I own gold and silver but at the moment I am not buying gold or silver. I think there would be a chance to buy gold or silver sometime next year. India is the largest buyer of gold, and when the largest buyer of gold stops purchasing from global markets, there will be a change in the demand-supply scenario. India seems to have lost the opportunity to benefit from falling commodity prices and now with currency depreciation, commodity prices have become expensive. Where have we gone wrong in our policies? The government has made so many mistakes, which has led the country into this position. Whatever happens now, it is not going to help India. If commodity prices go down, it will not help because the currency is going down. The government should realise that India has made mistakes, and it should start correcting those mistakes. The necessary actions may be painful for a while, but if you delay things, one has to pay a price. There are reports that the US 1Federal Reserve may start winding up its stimulus programme sometime soon. How negative is the sentiment among investors globally? I am worried about the global economy because this is all artificial money. Things are looking better because the world is printing money. All the major central banks including the US, Japan, UK are printing money. This is all artificial, and this is going to end badly, when it does. Nobody so far had success by printing money. There are fears of a sovereign downgrade for India... I don't pay any attention to rating agencies as they do not make money for you, so why should you pay attention to them? If they file any downgrades, then you may find bottoms in markets, may be that would be a time to buy again. We have serious problems on the currency front and there are concerns over rising current account deficit . What would be your advice to policy makers? I would make the currency convertible, open up trade and investments, so that people can freely buy and sell in the markets, whether it's in the stock market, bond market or commodity market. I would cut the deficit and the government spending in India. I would start paying debt. I would revive agriculture. The government has absurd restrictions in agriculture. India has been, and should be, one of the great agriculture nations of the world. It has land, soil, water everything, if you see the population, there are very smart Indians. There are enormous regulations in the country. Somebody should get rid of these absurd regulations, absurd bureaucracy, and start all over again, so that India can be a great nation again. " http://economictimes.indiatimes.com/opinion/interviews/govt-measures-are-hopeless-i-am-not-optimistic-on-india-jim-rogers/articleshow/21924773.cms?curpg=2
diga Posted August 20, 2013 Posted August 20, 2013 From twitter: Economic crisis of 1991 was preceded by 10 years reign of Maa-Beta. Present crisis is after another 10 years reign, this time by Bahu. :hysterical: on Rajivs birthday, the twitterati are having a field day on the state of Indian economy:--D
seedhi Posted August 20, 2013 Posted August 20, 2013 It is 64 now .. the rout of the rupee and the economy continues Ho raha hai Bharat NIRVAAN !
surajmal Posted August 20, 2013 Posted August 20, 2013 No big deal. Log secularism se pet bhar lenge.
FischerTal Posted August 20, 2013 Posted August 20, 2013 No big deal. Log secularism se pet bhar lenge. :agree: hindu, muslim, sikh, isai, sabko nachati italy ki bai B->
surajmal Posted August 20, 2013 Posted August 20, 2013 Considering the direction this economy is headed, I'm totally in favour of UPA 3rd term or some chewtiya third front. BJP is going to be a 1 term government that is if they are lucky to win.They'll do what they can to get the economy back on track and then the chewtiya citizens will vote UPA back into power due to their short term memories. So the best option is complete satyanash via the return of Rajmata and MMS. Then we get to start over. 2019 onwards - a fresh chapter in the history of India.
ravishingravi Posted August 20, 2013 Posted August 20, 2013 Considering the direction this economy is headed, I'm totally in favour of UPA 3rd term or some chewtiya third front. BJP is going to be a 1 term government that is if they are lucky to win.They'll do what they can to get the economy back on track and then the chewtiya citizens will vote UPA back into power due to their short term memories. So the best option is complete satyanash via the return of Rajmata and MMS. Then we get to start over. 2019 onwards - a fresh chapter in the history of India. Can't disagree with this although I am only backing BJP to bring the reforms because there is no alternative and they should be given the chance. They did make some good moves.
surajmal Posted August 20, 2013 Posted August 20, 2013 Can't disagree with this although I am only backing BJP to bring the reforms because there is no alternative and they should be given the chance. They did some good moves. You can kiss any meaningful reforms goodbye without a BJP majority. And in the current scenario that is a pipedream. Would be great if a Black Swan event occurred in favour of our country one of these centuries.
CG Posted August 20, 2013 Posted August 20, 2013 The irony is we will pass the food bill today Showing :finger::finger: to Fiscal deficit
Clarke Posted August 20, 2013 Posted August 20, 2013 BC pound touches 100 :finger: Bharat ke sarvanash pe hak hai mera :wall:
adi B Posted August 20, 2013 Posted August 20, 2013 So far, the government is making more mistakes and that's not going to solve the problem. Debt is going higher and the balance of trade is going higher as well. The Indian government just doesn't just understand economics. The government has made so many mistakes, which has led the country into this position. Whatever happens now, it is not going to help India. If commodity prices go down, it will not help because the currency is going down. The government should realise that India has made mistakes, and it should start correcting those mistakes. The necessary actions may be painful for a while, but if you delay things, one has to pay a price. sadly this arrogance,boorishness of the GOI will remain the same,they wont pay heeds to rectify this situation
adi B Posted August 20, 2013 Posted August 20, 2013 Considering the direction this economy is headed, I'm totally in favour of UPA 3rd term or some chewtiya third front. BJP is going to be a 1 term government that is if they are lucky to win.They'll do what they can to get the economy back on track and then the chewtiya citizens will vote UPA back into power due to their short term memories. So the best option is complete satyanash via the return of Rajmata and MMS. Then we get to start over. 2019 onwards - a fresh chapter in the history of India. nah mate,i cant take 5 more years of this government,surely they`ll reach more lows by the next 8 months but that should be the full stop.how about we say-a fresh chapter in the history of india starts in 2014.
randomGuy Posted August 20, 2013 Posted August 20, 2013 All this is result of incompetence and corruption. This country needs some dynamic leadership by passionate, energetic and relatively young leaders who have proven track records and Narendra Modi perfectly fits the bill.
Recommended Posts