"இந்த நாடும் நாட்டு மக்களும் நாசமாக போகட்டும் "
The above is a famous dialogue from a tamil movie which roughly translates into "This country and its people are going to suffer badly". This aptly fits to India's current state of affairs.
Today IIP data comes are 0.1. I am pretty sure that the govt spin masters did not want to show negative figures for second consecutive month. So they made as if it looks like a positive figure. The drama does not end here. The brokers ( lets cut rates lobby) started their rheoteric and this time they are very arrogant. They said that they are not bothered about inflation. So now the cat is out of the bag. We know all along these b******s are not bothered about aam aadmi and they are concerned about their fat paychecks and corporate profits. Since they are earning in crores in case of slow down or recession they can leave happy life. Only the middle class herd crowd will suffer hugely. Sadly this middle class idiots are not understanding this and playing cheer leaders to corporate mafia.
If we cut interest rate, we are officially gonna to say that our interest rate is fuckingly low than the official inflation. Won't foreigners laugh at us by seeing this. Remember I am not talking about the CPI which many countries use. We talk about WPI. CPI is 10 and more. WPI is 7 and more. Now already our interest rates are less than inflation which is a great joke. But we are now going to do that in terms of WPI. RBI is going to be a laughing stock.
Dont forget the currency is damaged and out of shape now. The prudent way is to raise rates. That is what a educated banker is supposed to do.
Also please dont forget that the rate cut will not be passed on the customers. It will be eaten by the banks.
RBI is misssing another golden opportunity to prick the bubble.
But one silver lining is Chakravarty is making right noises. But one summon from north block will make these guys to eat humble pie.
My solution
*******
Increase rates by 2 percent. We will be OK within one year.
The above is a famous dialogue from a tamil movie which roughly translates into "This country and its people are going to suffer badly". This aptly fits to India's current state of affairs.
Today IIP data comes are 0.1. I am pretty sure that the govt spin masters did not want to show negative figures for second consecutive month. So they made as if it looks like a positive figure. The drama does not end here. The brokers ( lets cut rates lobby) started their rheoteric and this time they are very arrogant. They said that they are not bothered about inflation. So now the cat is out of the bag. We know all along these b******s are not bothered about aam aadmi and they are concerned about their fat paychecks and corporate profits. Since they are earning in crores in case of slow down or recession they can leave happy life. Only the middle class herd crowd will suffer hugely. Sadly this middle class idiots are not understanding this and playing cheer leaders to corporate mafia.
If we cut interest rate, we are officially gonna to say that our interest rate is fuckingly low than the official inflation. Won't foreigners laugh at us by seeing this. Remember I am not talking about the CPI which many countries use. We talk about WPI. CPI is 10 and more. WPI is 7 and more. Now already our interest rates are less than inflation which is a great joke. But we are now going to do that in terms of WPI. RBI is going to be a laughing stock.
Dont forget the currency is damaged and out of shape now. The prudent way is to raise rates. That is what a educated banker is supposed to do.
Also please dont forget that the rate cut will not be passed on the customers. It will be eaten by the banks.
RBI is misssing another golden opportunity to prick the bubble.
But one silver lining is Chakravarty is making right noises. But one summon from north block will make these guys to eat humble pie.
My solution
*******
Increase rates by 2 percent. We will be OK within one year.
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