Thursday, November 22, 2012

Chidambaram puts pressure on banks

New article says Mr.P. Chidambaram finance minister this week asked public sector banks to bail out the real estate sharks. He has crossed all limits of governance and it is very disturbing to see a finance minister who is responsible for all the citizens well being stoop to such level.

The same minister immediately after assuming office in August has asked the PSB's to put pressure on builders to sell the unsold inventory. Now within few months what happened? Mango people naturally will think that some understanding has been reached between developers / builders mafia with the government.

 Without that, how can a foreign educated finance minister who is presumably well aware of the dangerous bubble engulfing the sector can ask the already struggling the government banks to bail out the developers who are the very reason for the impending economic collapse of the country? ( Long sentence ha)

God saves India.

Wednesday, November 21, 2012

What a joke !!!!

It turns out Mr.Subbarao and others in RBI are not that clever as we think.

Yesterday they sent a circular to banks not to lend to gold and the reason given was is that it seems that gold is used for speculative purposes. One could not control laughing hearing this comedy statement.

If RBI is really interested in controlling speculative money, it should bark elsewhere. Yes. you got it right. Real estate is the speculation which causes our economy to nosedive. RBI did not have the courage to take on the mighty.

RBI is probably worrying about the effect it would have on state run banks and others. But the truth is truth. We have to stand by that.

Mr.Subbarao , the open norm in any real estate investment is 30% of black money and further due to our 'so called monetary loose tightening; already real interest rates are in negative. Instead of globally controlled gold rates why not you try to control the speculation in real estate? My mango mind says that is easy and that is really needed.

Sunday, November 18, 2012

Petrol price reduced :)

I suspect a conspiracy here. When the brent crude touches 110 dollars per barrel and the Rupee is trading at 55 Rupees per dollars, do our OMC's really having a leeway to reduce petrol price? Common sense says No. Indian Government business sense says yes....

The plan to show the inflation at much lesser rate than last month to extract a rate cut from RBI. I will not be surprised to see the inflation rate of less than 6% even less than 5% next month which will be used to pressurize Subbarao. 

Tuesday, November 13, 2012

2G Auction Comedy

 Chidambaram gamble backfired. They played with DMK and thought it is a win win for congress in 2G. Now they got egg on their face. our corporate earnings are big joke. IIP is comedy nobody with right mind believes. l All stock analysts are acting as if they are bullish because they have vested interest in keeping the stock markets up. We in for a great slowdown which will last for few years. That is how the nature pays back the blood sucking corporates, real estate sharks and politicians.... our corporate earnings bank earnings are nothing short of satyam style accounting. The worst is yet to come... C. Rangarajan and Montek singh ahluwalia are predicting inflation to come down `next month` for the past few years..... one wonders are they really that `educated` ? Do they deserve that respect they are given? god knows the answer.. w we all know Chidambaram and his plan. ..he wanted to keep the liquidity and inflation high until 2014 election.... god saves the country 

Thursday, November 8, 2012

What a farce?

We all know the open day light robbery which is happening in hospitals which has only increased in the recent past, but we are not talking about this fraud.

The medical expenses are increasing day by day and it is beyond the reach of mangoman these days. Many mangomen are insuring themselves to avoid cost. Now the doctors ( Indians are very innovative and unique) started charging more (mostly unnecessary treatments only to rip him off) for the people who are insured.. Ultimately it iis loss to the insurance companies. Unfortunately the insurance idiots are not realizing that. Now who is going to take this on? Another side effect is, once you get used to high costs they costs will be charged to non-insured also.

On second thoughts, I also cannot say insurance guys are idiots. They will just increase the insurance premium for next year. So ulitmately sufferer is mangaman. That is YOU and ME. A treatment to cataract costs 16K last year is 24 K this year. Imagine the kind of money the hospitals are making.

Long live India. Jai Hind.

hopefully time has come.....

Many banks are declaring huge fall in profits and huge rise in NPAs. There are declared and undeclared NPA's in Indian Banking System. Again, there is a difference between public and private banks in this aspect. Private bank in my opinion cook books more than public sector banks. If the declared NPA's are 2 % we can safely assume undeclaredd NPA's are atleast 10%. They say this undeclared NPA as 'restructured loans'.  Many banks are fighting this impending danger. Let us see how this pans out. I love to see the banks which fanned real estate bubble to suffer the most.

Obama win is not going to do any good for struggling Indian IT industry. IT industry which is major contributor for real estate bubble will find it tough to grow. Salary increases cannot happen like before.  One should note that the campus interviews are thud this year and the situation may not improve anytime soon. If we see 'the Hindu Opportunities' paper or 'Times Ascent 'paper we can understand the trend.

The sales of real estate is reduced by 50% in major metros and this trend is going to be intensified. Threatening poor RBI governor will not help. Allowing the bubble to burst would be good rather than saving the Real Estate Shark's ass

US, Europe and China is not going to grow anytime soon. I am really sick of calling the top for almost 2 years now. But I feel the time really has come. The more they support the more the fall would be.

But I am confused, how I would be positioning myself to face this??