The country which is for the real estate by the real estate to the real estate is busting now. RBI is helpless. The corporate mafia who misguided RBI is speechless. It seems the Real Estate brokers are still not aware what is going to hit them. They will know shortly.
Corporate mafia is using Infosys Kris Gopalakrishnan as a front to push their cheap and dirty trick of asking for a rate cut. Kris Gopalakrishnan is a soft guy fell prey to that and where ever he goes he asks for 100 basis point repo cut and 75 basis point of CRR cut. I heard that he inadvertently tells this during his sleep also. My question is since IT or Infosys has no business about rate cut it is better for him to keep quiet as this shows him in poor light.
Rupee crashes today and Nifty index broke down today. Anytime we can see a down circuit in Indian share markets.
Now Subbarao has one last opportunity to restore his credibility. Raise repo rate and CRR by 100 basis points each. In the process you will kill two birds. Rupee will appreciate and real estate will depreciate. Economical collapse will be avoided. Will he do it?
Corporate mafia is using Infosys Kris Gopalakrishnan as a front to push their cheap and dirty trick of asking for a rate cut. Kris Gopalakrishnan is a soft guy fell prey to that and where ever he goes he asks for 100 basis point repo cut and 75 basis point of CRR cut. I heard that he inadvertently tells this during his sleep also. My question is since IT or Infosys has no business about rate cut it is better for him to keep quiet as this shows him in poor light.
Rupee crashes today and Nifty index broke down today. Anytime we can see a down circuit in Indian share markets.
Now Subbarao has one last opportunity to restore his credibility. Raise repo rate and CRR by 100 basis points each. In the process you will kill two birds. Rupee will appreciate and real estate will depreciate. Economical collapse will be avoided. Will he do it?
Now with Chidambarams man Raghuram rajan at helm, we can expect our FM's instructions to be stricly followed. Don't think Subharao can do too much now or whatever he does will be undone in the very near future. So the interest rates may not go up!
ReplyDeleteI am more interested in what Rajan's rate-setting behaviour would be.
ReplyDeleteRajan held an opposing view to Krugman. Rajan supported austerity. In that sense, he might be more in agreement with Subbarao than with the Finance Ministry. On the other hand, we don't know how he will react to the demands of the FinMin. Rajan might also have an eye on his reputation in future rather than simply follow the line of the FinMin.
Maybe we can expect easy money policies till elections and then austerity after the elections. Or maybe he won't take any risk and go straight for a hard currency policy. It is also possible that he might have changed his views and is in agreement with Krugman now.
PS: Maybe I should start a blog of my own someday soon.
Will give some time for Raghuram Rajan and the best time to criticize him would be September 18th 5 PM :)
ReplyDelete