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Good that you've come around to this point of view. Some months back you were arguing that the Congress under a Gandhi is the best possible thing to happen to India. I argued against that and told you that the Gandhis are parasites eating into the vitals of this nation. Under their direction the Congress has been bleeding India through gargantuan entitlement schemes, just to cement their vote bank and stay in power. You were vehemently arguing with me then that India has hope of progressing only if Congress takes over, and that too under a Gandhi.Mark my words, the rupee is going to be devalued by the government. Overnight, people's savings will take a huge hit just like they did in 1991 (when co-incidentally, MMS was FM). Because of financial mismanagement by the Congress both then and now, we are in the same mess.
This is what happens when votes are bought on a massive scale through gargantuan entitlement schemes.
EDIT: My advice to members is to invest in precious metals or foreign currency to hedge against such an outcome.
There's no contradiction between what I said then and what I say now. Congress is still better than the alternative by far. A BJP majority government would probably spark pogroms against minorities all across the country and maybe civil war. A "Third Front" government would be totally inept and useless.Good that you've come around to this point of view. Some months back you were arguing that the Congress under a Gandhi is the best possible thing to happen to India. I argued against that and told you that the Gandhis are parasites eating into the vitals of this nation. Under their direction the Congress has been bleeding India through gargantuan entitlement schemes, just to cement their vote bank and stay in power. You were vehemently arguing with me then that India has hope of progressing only if Congress takes over, and that too under a Gandhi.
Good that you've changed your point of view now.
The wealth you see is all kala maal. Corruption has reached epidemic proportions and every Tariq, Dave and Hari seem to have a finger in some scam or another.Some times I wonder if these doomsday scenarios are for real?
When I go out of the house, the number Audis, BMWs Jags I see. The number of people wearing expensive watches, fine dining coming up all over. I wonder where the fvck is all that money coming from. Something is amiss. My business is down no doubt which is reflective on the downward slide of industries in India, wonder what's going on.
India has always has been a paradox and I think it will continue to be.
I think its all about sentiment at the end of the day. A two term govt in its last year with all kinds of scandals has taken its toll collectively. I think it will start to improve next year especially if the current dispensation goes.
6 years of NDA didn't see "wide scale" pogroms across the country.There's no contradiction between what I said then and what I say now. Congress is still better than the alternative by far. A BJP majority government would probably spark pogroms against minorities all across the country and maybe civil war. A "Third Front" government would be totally inept and useless.
Problem is, India is caught between the Devil and the Deep Sea or worse. Congress is just the lesser of all evils, but still the best *possible* choice.
That's because BJP wasn't in a majority. Even then we saw the totally hands-off response of the central government toward the Gujarat riots. And the "mukhauta" of the BJP, aka Vajpayee, praising Modi for his handling of the situation.6 years of NDA didn't see "wide scale" pogroms across the country.
Local small people buying those cars has nothing to do with the corruption at political level.The wealth you see is all kala maal. Corruption has reached epidemic proportions and every Tariq, Dave and Hari seem to have a finger in some scam or another.
While the market is irrational and sentiment rules, globalization has ensured that every country has to compete for (limited) foreign capital so unless policymakers take steps which restore and reinvigorate investor confidence, the situation will not improve.
You don't want me to get started on Congress and its role in riots do you?That's because BJP wasn't in a majority. Even then we saw the totally hands-off response of the central government toward the Gujarat riots. And the "mukhauta" of the BJP, aka Vajpayee, praising Modi for his handling of the situation.
Hitler also delivered development. Development cannot be the be all and end all no matter the cost. First comes stability, then development.You don't want me to get started on Congress and its role in riots do you?
Every political party has played games. What we have seen in the last few years is that people's aspirations have gone sky high and petty politicking may not help any more. There will have to be substance. People want development.
See , I am from TN. I see no signs any poverty stress in TN here. Real estate is still strong. Labor shortage is acute. Daily wage earners are earning on an average close to Rs.500 per day , if they have any rudimentary skills in construction or carpentry.Mark my words, the rupee is going to be devalued by the government. Overnight, people's savings will take a huge hit just like they did in 1991 (when co-incidentally, MMS was FM). Because of financial mismanagement by the Congress both then and now, we are in the same mess.
This is what happens when votes are bought on a massive scale through gargantuan entitlement schemes.
EDIT: My advice to members is to invest in precious metals or foreign currency to hedge against such an outcome.
It's because I look beyond narrow prisms. I voted ABV in 98/99. I voted congress in 2009, I will vote BJP in 2014. I voted for Cong in 2009 coz Indian economy was doing well and thought it would be a good idea to have continuity.Hitler also delivered development. Development cannot be the be all and end all no matter the cost. First comes stability, then development.
The entire political agenda of the BJP is based on hate and quite frankly, I am consistently amazed by your support for that party. It's like being a black Republican or a Jewish Nazi.
I was one of those who got sucked into the silver bandwagon and lost money. People were saying it will cross 1L in no time and I bought at 65k level.See , I am from Tamil nadu. I see no signs any poverty stress in TN here. Real estate is still strong. Labor shortage is acute. Daily wage earners are earning on an average close to Rs.500 per day , if they have any rudimentary skills in construction or carpentry.
Middle class is in a tight squeeze. But lower class is much much better off than they were before . The daily wage earning construction worker is riding the same bike that the engineer is riding to the site and having the same smart phone as that of the engineer around here.
Since it is a democracy , political class has assiduously taken care of the most vocal section of the populace with great care,since they are the main voting class in huge numbers.
Precious metals had already had a huge run up and are at dangerously high level. look how the silver is sputtering around 58000 per Kg. Now Gold too is showing signs of weakness.
I don't see any huge devaluation of rupee as long as Indian software sector brings in close to 100 billion annually. And crude has no way of gaining any higher price than this.
If the rupee is not devalued, it may again lead to a balance of payments crises, just like in 1991. I'm no economist, but here are some recent articles in major newspapers all calling for devaluation to manage the crisis:See , I am from Tamil nadu. I see no signs any poverty stress in TN here. Real estate is still strong. Labor shortage is acute. Daily wage earners are earning on an average close to Rs.500 per day , if they have any rudimentary skills in construction or carpentry.
Middle class is in a tight squeeze. But lower class is much much better off than they were before . The daily wage earning construction worker is riding the same bike that the engineer is riding to the site and having the same smart phone as that of the engineer around here.
Since it is a democracy , political class has assiduously taken care of the most vocal section of the populace with great care,since they are the main voting class in huge numbers.
Precious metals had already had a huge run up and are at dangerously high level. look how the silver is sputtering around 58000 per Kg. Now Gold too is showing signs of weakness.
I don't see any huge devaluation of rupee as long as Indian software sector brings in close to 100 billion annually. And crude has no way of gaining any higher price than this.
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