This is the result of Consumerism & too much dependency on US .The fall out of "Spend Now Pay Later".I don't think this is a great Epidemic rather it would work as an Vaccine for future disease.
Another thought. Has America been gutsy enough to let some institutions go and in panic since some biggies may go.
Would India have the guts to openly write off such large amounts. Where was the farmer's loan waiver funded from? what does that do the NPA Picture? Is our house really in order or are we brushing things under the carpet as usual.
ICICI bank run reported in this site - do we treat that as an isolated occurrence or do some people really know something that we do not
Re: US upside down, so wht's next?
by Rahul Ekbote on Sep 30, 2008 05:21 PM
dont cry baby,Try to get H1 B visa and work in USA.U must be wking in US-Indian company,dont worry now India will support world economy by our great finance directors cum PMS-Singh and chidambaram will astonish world ,plus Reliance like great strategic planners.
Most people on this fourm are sadly very very negative, they are trying to give their own hypothesis about what will go kaput next. And some people are trying to play oracle by predicting recession etc. Its almost like assuming that everyone will wait till they are beaten down by the turn of events. I would like to differ.. no doubt the coming days will be tough with liquidity crunch, layoffs, high interest rates etc but you will also find people coming up with fresh and potent ideas which can power the market, new strategies to improve business etc History has shown that human ingenuity kicks in at times of crisis the current crisis is no exception. Infact in the coming days one will witness the best ideas, strategies, business models shaping up, Mark my words.
Re: Be an optimist
by Rahul Ekbote on Sep 30, 2008 05:27 PM
no GSB hypothesis of newspapers or magazines they read,if u know how these so called witers or journalist get it written from other hidden,non publicitty demanding journalists actually write real articles,and these thiefs write their own names as real article writers when actual poor journalists are behind scenes,puyblicity,and so called big names are marketers ,if they are told ,only 2-3 cent can will be able to talk on any random issues nation,public face because they just print their names by money power as writers,Save our democracy of newspaper going into hands of politicxal Goondas acting as democratic ways.
Re: Be an optimist
by Govardhan Brown on Sep 30, 2008 11:32 PM
Don't be too sanguine GSB. At the same time, current reports from wall street show the market climbing up by over three percent, AMERICA'S MONEY CRISIS The $55 trillion question Stock rally speeds up Genworth soars on possible spin off The economy's 3 vicious cycles McCain: Bailout had bad PR
Quick Vote Should the House reconsider its rejection of the $700 billion economic recovery bill? YesNo or View resultsBuy cheap to earn big
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McCain, Obama: We'll vote for plan Your Money: A voter's guide Dear 44: Your economic to-do list Hey, big spender Buying friends in D.C. Decoding Obama's tax claim
NEW YORK (CNNMoney.com) -- Stocks rallied Tuesday afternoon as investors scooped up shares battered in the bloodletting that followed Congress' failure to pass a $700 billion bank rescue plan.
Credit markets remained tight, with several closely-watched measures of bank lending hitting all-time highs, as banks hoarded funds.
The Dow Jones industrial average (INDU) added over 330 points, or 3.2%, with over two hours left in the session, recovering some of the record 777 points lost the day before. The Standard & Poor's 500 (SPX) index rose 4% and the Nasdaq composite (COMP) gained about 3.8%.
The advance was largely in response to the previous sessions selloff. Maybe there's still hope.
Re: Be an optimist
by Naarayan on Sep 30, 2008 07:07 PM
I agree with GSB..this is probably the time for some fresh ideas and strategies to come in to the financial markets.. this is indeed a tough phase but it will pass..
India is not completely insulated from global financial crisis: Prime Minister; Statement conflicts with Finance Minister.
PM Hinting that India cannot remain untouched by the financial turmoil in the US, Prime Minister Manmohan Singh has said the nation`s capacity to finance development will be affected and exports compromised if major economies go into recession.
What could fall? ** Real Estate & Housing construction must be the first, investment in tangible asset will not happened. This already witnessed. ** IT industry & associated indusutry impact, it resulted with no recruitment, job cut and etc ** Hotel Industry & Tourism will be the next ** Banking Industry ** Insurance Industry and etc.
Inflation will be controlled very soon, it will be sign for economy.
Try to deposit money in Nationalized bank (up to 11.25%)and be safe....
During many past financial turmoils in US/EUROPE, nothing happened in INDIA but Now?
It is the wrong and very short sighted financial policies of MMS and Chidambaram is what resulted in these problmes in India. Otherwise we had a very stable economy and banking system, independent of others. It was self sustaining and stable.
Our PM & FM, who are very much trained and fascinated by the Wall Street style system, which is very unstable and short sighted, tried to change our system to this sytle. Now we too are facing panick and recession.
Our PM & FM conentrated mainly on short sighted statistics to show to public and international institutions but ignored (I would rather say dont know due to their western infatuation) the fundamentals and long term implications. Now they will be gone within months, with their crores in banks and heavy pentions, enjoying at home. The poor Indian public got duped and cheated.
Re: During many past financial turmoils in US/EUROPE, nothing happened in INDIA but Now
by Rahul Ekbote on Sep 30, 2008 05:30 PM
IT specialist will be kicked out of companies because they are eating salary of 5-6 families turnover,or 6-7 IT workers,kick it specialist out if recessin comes in due to such idiots.
Re: During many past financial turmoils in US/EUROPE, nothing happened in INDIA but Now
by dhishum dhishum on Sep 30, 2008 03:30 PM
Get your fundamentals cleared Mr. Specialist...
Re: During many past financial turmoils in US/EUROPE, nothing happened in INDIA but Now
by Gautam Sinha on Sep 30, 2008 04:02 PM
do not forget that these policies also exposed us to the good times. Till 10 months, every body was reaping profits due to these policies. your poor Indian public also made money from it
The recession looks very eminent. It is really time to take pro active steps to avoid a painful time in the next two years which is how long the recession is expected to last.
Suggestions: 1. Don't take any loans; buy homes, properties with loans, or even cash. Keep as much cash as possible. 2. Pay off as much of personal loans, private loans, as debt collection will be hastened. 3. Sell any stocks you can even at lower prices. 4. Take money off from Trust Funds. 5. Don't believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities. 6. Don't invest in new capital. 7. If you are selling homes/ properties/ cars, do it now, when you can get good prices, they are going to fall. 8. Don't invest in new business proposals. 9. Cancel holiday plans using credit cards. 10. Don't change jobs, as companies will retrench based on 'last in first out'.
Stay cool, wait, and if you took all of the above actions and more, you probably will be better off then many. This is not a rumor. Bear Stearns is the first of many banking and financial institutions that will start falling in the not too future. If Bear Stearns can fall, so can JP Morgan, Citibank, HSBC, and the whole world. US economy falls, the rest will crumble.
India and all those self economies will be the most protected, but not gullible.
Europe may be a little stronger, but not China , another giant! :place Malaysia will see significant impact.. Be alert and
The ex-Goldman Sachs chief was a big let down. He perhaps unconsciously treats his present job as an extension of his previous one!
The first round rejection is not a bad symptom, has been welcomed by most decent Americans with a sigh of relief! Sooner or later American genius will exercise its will over American grabbers, and work out a fair and just remedy to this grave economic crisis.
The non-passage of the deal demonstrates that US democracy works!
It is just that Finance Ministry is pulling some strings to sponsor a support to the fall of Sensex. But it is not going to hold for some days. Tomorrow market is closed. Definitely market will fall again radically on friday unless Finance Ministry steps in again.
