A intelligent called Swaminathan S Anklesaria Aiyar

Today I read one of the most idiotic article in the main stream media. The credit goes to renowned economic writer mentioned in the title of this article.

He suggested/supported to sell all the buffer stock kept in government godowns.  In fact he suggested to export this food stock. What is comical is this...

He said India needs 32 million tonnes every year as on July 1 in stocks. Even with proposed food security bill India may not need more than 42 million tonnes. But currently India has stock about 76 million tonnes. So he suggesting to export atleast around 25 million tonnes. What is intriguing is that he said by selling 25 million tonnes we will get around 10 billion US$ and he thinks it will bridge the current account deficit.

Dear sir, our current account deficit is in the tune of 60 - 70 billion$ and this 10 billion$ is peanuts and will go into the drain in a jiffy. But the food stock if used properly or given to people can last for another year. You may have born in a upper middle class brahmin family and may not know what is food security is....

However, I never read this guy talking sense in any of his article. He never advised government to increase interest rate so that all the rotten idiots in the indian crony capitalist system comes to ground. Never. he never did that. He always supported government's idiotic moves. Gives reasons for them. Give justification for governments anti-people move.

Dear sir,,problem lies in Interest rates....

Raise interest rates by atleast 2%. This will solve all our problems. Then we need not undergo the painful process of reading your half baked,self fulfilling articles.

Monetary Review 2017 and more.....

These are the probable scene which will be witnessed in 2017 Monetary Review

RBI has reduced the CRR further and the CRR now stands at -3%. That means  RBI will give an extra  3% of the banks total deposits to all the banks to overcome the liquidity issue.

SBI chairman Pramod Chapri so upset about RBI with the minus 3%  CRR. He argues RBI should give unlimited money to the banks without any interest cost and the CRR itself is a  idiotic banking practice followed centuries ago.

Repo Rate is reduced further and now stands at -4%. This means mango men ( You and me) have to pay 4% interest to keep your money in the bank deposit.

FICCI President Podi Godrej reportedly unhappy with RBI, that the repo rate is reduced only up to 4%. He wondered how industry will grow if the repo rate is -4. He wanted RBI to reduce the rates further.

Karthi Chidambaram ( he would become finance minister by then) expects RBI governor Ramarao to act responsibly to reduce rates further to -10%, so that poor Kumbani's and Jehindra's can eat atleast a square meal per day.

In a separate news, the CPI inflation touches 23% and the WPI inflation is at 12%. Taking note on this inflation figure PMEAC chairman sundarrajan says the WPI decreases by 0.00002% which actually gives room to RBI to cut the rates further. Further he noted that the price of jet engine reduces by 100%, which is what we need to look as a sign of cooling inflation.

Planning commission deputy Chamcha singh puts blame of rural people. He says rural people has become more arrogant these days and started eating decent food for 3 times per day which puts more pressure on the inflation. He also expressed dismay about the fact that poor people started drinking coffee everyday. He also says government is taking effective steps to arrest this trend.

Meanwhile real estate continues to thrive and the price of a single bedroom flat is 10 crore even though 100000 crores of apartments still vacant in the country.

We are fortunate to live in the era of SBI chief Pratib Chaudhuri

Before rate cut SBI chief was telling to all and sundry about his plans to pass it on the benefits to Aam Aadmi of India. In reality his Aam Aadmi's are none other than real estate sharks. Simple logic of 'you save my ass and in return I will save your ass' concept. The interesting news is that after RBI cut 0.25 % in Repo, SBI cuts 0.05% in base rate.So according to this genius banker, RBI has to cut repo rate by 5% to as low as 2.75, so that we will get 1% reduction in his bank's lending rate. Really I feel proud that I live in the era of SBI chief Pratib Chaudhuri.

Comedy by Deepak Parekh

Just like the comedy episodes by Godrej, now Deepak also trying his hand. Remember this dude is the chairman of world's most valued bank. This bank is one of the 'so called banks' which sucks the ordinary tax payers money by getting funds at cheap cost due to governments policies. We will talk his credentials later.

For the week he was seen telling ' If India is downgraded, the western economies should be downgraded by several notches'

We will think about this little more:

1. First it is school boy mentality by Deepak asking to look others problems and not looking into your own problems
2. Current account deficit and fiscal deficit is growing alarmingly. So we have a problem. There is a saying ' see your back before commenting others'
3. Inflation has gone out of control partly because of the guys like Deepak who time and again come on broker channels to talk about the need to 'reducing rate'. Tomorrow if we go down, the same wolves will tell RBI could have done a better job.
4. Western economy problem is very different from India because of our population
5. Crony capitalism which benefits the corporate like Deepak is not in western countries.

Any takers??