Alexander's who win before marriage. (Greeku Veerudu, every dad looks for this). Swayam Krushi's who win after marriage (mostly this happens) and Losers who never win at all (if then else, this happens).
So that is what Greek means. Either boy or girl, there is Son-in-law some where.
Assets in India (especially real estate) are clearly overpriced. In a miserable city like Mumbai, where there is pathetic infrastructure and poor quality of life, the prices in rupee terms for a modest abode ranges from 10 million to 15 million rupees. When the dollar was at 45 rupees, this amounted to approximately 225000 to 335000 USD. For this kind of money, you can buy a palace in a well-connected city with much better and peaceful quality of life than Mumbai. Obviously there was something wrong with the asset valuation. Either the prices had to come crashing down in India or the rupee to dollar equation had to change. Now at 55 to a dollar, the same humble abode will cost 180000 to 270000 USD. Still expensive, but we are getting there - where we belong! A complete right-sizing is yet to happen. It can take shape in either of the three ways. A blood-bath in real-estate markets or a sharper devaluation of the rupee or both. The story is unfolding.
Dollar going up and reason government gives us is world market! Still planning to open its market for foreigners!! Harakiri, not at all. Our big businessmen, politicians and others are getting shares from foreign investors not only in corrupt way but legally as well.those who are at receiving end like us making hue and cry and trying to freeze these opportunity, how selfish. What will happen to our Manmohan Singh, Sonia Gandhi and even opposition leaders living lavishly(may be honestly also), can not survive if these legal perks are withdrawn!! Let us sacrifice and our GREAT leaders and their Sevadars enjoy in India and on tous to foreign nations.
It is bound to happen, This government has printed soo much money that its hard to find any denomination less than 100 in the market. Go Ahead now print 500's & 1000's. India will be next Zimbabwe for sure..
Re: India can't be next Greek
by Sachin Purohit on May 27, 2012 10:25 PM
Keep dreaming. NRI remittances is just one part of the story. To put the complete story you simply need to see the end result. The end result is that the forex reserves have sharply depleted! In a BOP, you have two components - Current Account and Capital Account. NRI remittances is a small component of current account. A larger share is taken up by Trade Deficit/Surplus. We are a net importer because we have to import oil. Even the KG Basin that promised a lot of gas (thanks to overexaggerated claims by a thug called Mukesh Ambani) has failed on delivery. So even we are importing lot more LNG gas than we would have estimated. But this is just about current account. Due to flight of foreign investors - thanks to non-governance, capital account also is in depletion mode. RBI has had to sell dollars heavily to keep the rupee from slipping further and that has only added to even more depletion of forex.