Indian Rupee hits new low, breaches 70-mark for first time against US dollar [Update Post #316]

[Namak_Halaal]

No definitely this thread is not about Indian economy, its created by/for you to get high but no one can doubt your Ph.D. in Indian economy.

Beta Junior Bush had 76 Ph.Ds at his disposal from econmic advisers, to Wall Street cronies, to the head of the Fed, not one of them could forsee the Credit Crunch.

This thread is about an article in the BBC, substantiated by articles from Reuters and Bloomberg. The OP is real, you are running from the truth when you should be paying heed.

 

[Namak_Halaal]

And you are supposed to represent .........oh I forgot what is your identity?

Identity has no relevance in this thread and neither do sisters. Why are you so angry? I understand the truth hurts but seriously?

Talk to me about inflation in India.

 

[Senman]

I don't hate it either, in fact took a genuine interest in the history of the SC (which is my history too), and few of my very first reads were about the Indus, Hinduism, Buddhism & co.
I go into India-"bashing" (that's overstated) after generally reading insults on Youtube about Pakistan I wouldn't reveal here as I'd risk to be banned, pretty much a immature behaviour I agree but I have age on my side.
And I'd guess same happen with Indians who want to watch a video which has nothing to do with Pakistan but trolls pop up talking about WC & whatnot.

Also, believe me that whenever I go into that futile exercise, I genuinely regret it, insulting is just not in my nature & don't remember the last time I went angry IRL.



Remember Pankaj Mishra writing that today's narrative about Pakistan were exactly applied to India in the late 80s : "failed state", "secessionist movements gaining momentum" (at that time, the Khalistan movement you can compare to Balochistan's today or the Naxalites with today's TTP), "bankruptcy" (because of pandit Nehru's socialist policies, the Indian economy never really took off before the economic liberalization of the 90s) and whatnot.
In the same flavour, I remember reading/hearing in 2009 (when suicide attacks and militancy were at their peak) how Talibans "are near Islamabad and ready to take over the nukes."

TBH, Pakistan's economic situation was never really bad before the WoT, and as much as I dislike Mushy, the previous govt. was effective.
We're just now waiting for the next general elections, I do believe that the country has the human and natural resources to shine, given a popular, honest & credible leadership.

True but India at that time really went for local industries and Pakistan opened itself for west. While in the 90s when India opened its gates it had a very mature local industry inside who could compete with sophisticated foreign companies, that is where Pakistan lost it, its either USA or Chinese or Japanese someone is always dominating its market except Pakistanis.

Currently what Pakistan need is infrastructure. 3rd world economies all are totally dependent on infrastructure, build power plants industries will come. Improve connectivity(Highways, Railways) FDI will come, Control law and order Tourists will come.

Even-though I think Imran khan will do a commendable job its impossible to look after everything very quickly, so patience is the key word and hang on to Democracy, growth will come.

 

[Senman]

Beta Junior Bush had 76 Ph.Ds at his disposal from econmic advisers, to Wall Street cronies, to the head of the Fed, not one of them could forsee the Credit Crunch.

This thread is about an article in the BBC, substantiated by articles from Reuters and Bloomberg. The OP is real, you are running from the truth when you should be paying heed.

But isn't it true that you were laughing at the poor people who is going to suffer if your predictions come true? you shouldn't do that old man(since you are calling me beta).

 

[Senman]

Identity has no relevance in this thread and neither do sisters. Why are you so angry? I understand the truth hurts but seriously?

Talk to me about inflation in India.

Come-on what is the relevance between Uk Citizen (who also got Pakistan citizenship) and Indian economy, absolutely nothing.

I am not angry dude you are the only person who can respond to posts within half a minute that makes me happy and keep me company. Thanks for that.

 

[Namak_Halaal]

But isn't it true that you were laughing at the poor people who is going to suffer if your predictions come true? you shouldn't do that old man(since you are calling me beta).

No it is not true.

I asked you to cite the post where I used a smily to laugh at the poor. You failed.

You seem to be stuck up on the point of toilets, an article which addresses the shortcomings if the Indian government during an economic boom. Perhaps you have nothing to say about this which is why you are moving on to irrelevant topics.

Now I am not here to help control your insecurities but don't you think it's rather ironic to worry about the poor in a democratic and capitalist society?

Welcome to the dark side of capitalism where morals cease to exist.

 

[Senman]

no it is not true.

i asked you to cite the post where i used a smily to laugh at the poor. You failed.

You seem to be stuck up on the point of toilets, an article which addresses the shortcomings if the indian government during an economic boom. Perhaps you have nothing to say about this which is why you are moving on to irrelevant topics.

Now i am not here to help control your insecurities but don't you think it's rather ironic to worry about the poor in a democratic and capitalist society?

Welcome to the dark side of capitalism where morals cease to exist.

op

 

[Senman]

No it is not true.

I asked you to cite the post where I used a smily to laugh at the poor. You failed.

You seem to be stuck up on the point of toilets, an article which addresses the shortcomings if the Indian government during an economic boom. Perhaps you have nothing to say about this which is why you are moving on to irrelevant topics.

Now I am not here to help control your insecurities but don't you think it's rather ironic to worry about the poor in a democratic and capitalist society?

Welcome to the dark side of capitalism where morals cease to exist.

How do you know they didn't do?

 

[Senman]

No it is not true.

I asked you to cite the post where I used a smily to laugh at the poor. You failed.

You seem to be stuck up on the point of toilets, an article which addresses the shortcomings if the Indian government during an economic boom. Perhaps you have nothing to say about this which is why you are moving on to irrelevant topics.

Now I am not here to help control your insecurities but don't you think it's rather ironic to worry about the poor in a democratic and capitalist society?

Welcome to the dark side of capitalism where morals cease to exist.

Dude honestly where do you live?

 

[Namak_Halaal]

Come-on what is the relevance between Uk Citizen (who also got Pakistan citizenship) and Indian economy, absolutely nothing.

I am not angry dude you are the only person who can respond to posts within half a minute that makes me happy and keep me company. Thanks for that.

What is the relevance between me and the indian economy? Capitalism. What is the relevance between you and PP? Why are you here? Oh that's right, your first post on PP was a veiled attack on Islam. What is the relevance of any thread in TP?

You are angry. The question is not this thread, the question is the thread starter. I know this because not so long ago Navrocks, an Indian, posted the pretext to this thread and you were not questioning his identity, in fact you accepted that thread as knowledge.

Don't shoot the messenger or judge the messenger based on his religion and identity Senman. Shame on you.

 

[Senman]

Anyway N_H You go get busy mate, google stuff or work on your next shocking revelation about India ok. Since it is early morning here I will get some sleep before starting my day. Bye bye N_H

 

[cricketjoshila]

Time for MODS to step in as posters are getting personal here.Instead of debating why Indian economy is doing no worse than the whole world infact better than most of the world,which is contrary to what the OP tried to portray,personal mudslinging has started.

@Akher

The reason why i have immense respect for you as a poster despite our disagreements on how Kashmir should be solved,is because you have as non biased a view a Pakistani can hope to have on India.

 

[cricketjoshila]

Btw which chinese bank refused loan to which Indian company?

 

[Namak_Halaal]

Dude honestly where do you live?

Irrelevant.

Why are you ignoring capitalism now? Don't like people profiting from India's slowdown?

You voted for it now deal with it.

 

[Senman]

What is the relevance between me and the indian economy? Capitalism. What is the relevance between you and PP? Why are you here? Oh that's right, your first post on PP was a veiled attack on Islam. What is the relevance of any thread in TP?

You are angry. The question is not this thread, the question is the thread starter. I know this because not so long ago Navrocks, an Indian, posted the pretext to this thread and you were not questioning his identity, in fact you accepted that thread as knowledge.

Don't shoot the messenger or judge the messenger based on his religion and identity Senman. Shame on you.

OK OK you win I lose, I am a hindutva supporter you have expertly exposed me. Lets close this thread, look others are already lost interest we have taken it as far as it can go.

 

[Namak_Halaal]

Anyway N_H You go get busy mate, google stuff or work on your next shocking revelation about India ok. Since it is early morning here I will get some sleep before starting my day. Bye bye N_H

Buy Gold and Silver.

Good night.

 

[Namak_Halaal]

OK OK you win I lose, I am a hindutva supporter you have expertly exposed me. Lets close this thread, look others are already lost interest we have taken it as far as it can go.

Others are losing interest because they do not understand the ramifications of the OP. Like you they pretend everything is OK when clearly it is not. Ahh yes, kind of like the pre 2008 days.

 

[Namak_Halaal]

Instead of debating why Indian economy is doing no worse than the whole world infact better than most of the world,which is contrary to what the OP tried to portray,personal mudslinging has started.

The Indian economy is not doing better than the rest of the world today. Chronic inflation, high interest rate, a weakening currency, USD donimated debt going the roof, and a widening gap between rich and poor is not what I would call doing OK, but I would call a warning.

Pay heed CJ - Gold and Silver. There is news of Indian government trying to ban private Gold purchases.

You know why? The government wants Gold before you do.

 

[wasim-fan]

The economic boom in India – it’s well and truly over.

Okay. Whatever floats yours boat.

 

[Yuri]

Test match lost, Pakistani fans need something to cheer about.. what better than to discuss a struggling India...!?
Good trolling... enjoy.

 

[wasim-fan]

The Indian economy is not doing better than the rest of the world today. Chronic inflation, high interest rate, a weakening currency, USD donimated debt going the roof, and a widening gap between rich and poor is not what I would call doing OK, but I would call a warning.

Pay heed CJ - Gold and Silver. There is news of Indian government trying to ban private Gold purchases.

You know why? The government wants Gold before you do.

lol.Which news do you subscribe to. This is first time I read this piece of news. Banning private gold purchase.

As for the Indian economy, depends on whom you listen to or in your case what you want to happen. Given a rate cut by RBI and reversing some of GAAR regulations on FIIs, inflows will increase we are looking at Rs. to come down to 53-55 and growth at around 6.5 - 7 % for fiscal year. So, yes it is end of "boom" of 9-10%, but it is still better than 99% of the nations in today's economy. Little doubt that Indians will have to adjust to this new reality and political and structural reforms will have to take place.

Either ways, I believe the BRIC nations will run out of steam in next 4-5 years and we might be looking at Indonesia, Turkey and few other nations to come up as "breakout nations".

Btw how is Pakistan's economy doing ? There is one right.

 

[Indiafan]

Good thing is, either ways N_H predictions will have a chance of being proved or dis-proved. Lets wait and see, though in the past, most of his predictions have been completely off though he wouldnt care to admit to them

 

[Indiafan]

@Indians: Control your anger, only then will you realise I am doing a favour to you with this thread.

Read the OP carefully. If there is something you do not understand then kindly ask - I will not bite!

Thank you for taking the time and effort for the favor N_H. I heard Indian economy has taken a turn for the better as soon you posted this thread. So thanks again

 

[Namak_Halaal]

Good thing is, either ways N_H predictions will have a chance of being proved or dis-proved. Lets wait and see, though in the past, most of his predictions have been completely off though he wouldnt care to admit to them

Most of my predictions? Such as?

15 months ago I predicted the Indian economy and the INR would decline rapidly. Lo and behold Indian GDP has almost halved in the space of 15 months and the INR is taking a battering. Then, Indians were claiming I was anti-Indian and didn't have a clue, in fact, Indians went to the extent of claiming their economy was still booming! Boy how wrong they turned out to be.

Part of my previous predictions and advice was to also buy Gold and Silver in INR to preserve your wealth. I kept repeating myself. Advice fallen on deaf ears. Had you done 15 months ago you'd be sitting on a healthy profit.

The problem is not my predictions, the problem is the common man doesn't understand currency debasement - you included. Most Indians don't have a clue about the Bond redemption schedule either, thinking March 2013 is a prediction. Well I promise you this much, it's no prediction, as the INR weakens all USD denominated debt in India will become more expensive to service and the result is higher bond yields. March 2013 a date set in the Indian economic calandar.

What you should be asking is how comes I know more about your economy than you do? I guess this is the crux of the matter because had an Indian posted the OP you'd label him a traitor.

Buy Gold and Silver.

 

[speed]

gold is flipping expensive and silver how can the average person expect to buy it.

 

[Nishaa]

Most of my predictions? Such as?

15 months ago I predicted the Indian economy and the INR would decline rapidly. Lo and behold Indian GDP has almost halved in the space of 15 months and the INR is taking a battering. Then, Indians were claiming I was anti-Indian and didn't have a clue, in fact, Indians went to the extent of claiming their economy was still booming! Boy how wrong they turned out to be.

Part of my previous predictions and advice was to also buy Gold and Silver in INR to preserve your wealth. I kept repeating myself. Advice fallen on deaf ears. Had you done 15 months ago you'd be sitting on a healthy profit.

The problem is not my predictions, the problem is the common man doesn't understand currency debasement - you included. Most Indians don't have a clue about the Bond redemption schedule either, thinking March 2013 is a prediction. Well I promise you this much, it's no prediction, as the INR weakens all USD denominated debt in India will become more expensive to service and the result is higher bond yields. March 2013 a date set in the Indian economic calandar.

What you should be asking is how comes I know more about your economy than you do? I guess this is the crux of the matter because had an Indian posted the OP you'd label him a traitor.

Buy Gold and Silver.

That's the one question nobody needs to ask.. It's pretty much evident your concern and passionate love for everything indian. It's impossible to take out the indian from a pakistani.

 

[Kalari]

First off, never take literally whatever the ratings agencies say. I understand that most of your views on the current Indian economic environment stems from the S&P rating revision. In India, we are used to being told by the West that come next dawn, we will be queuing up with a bowl in front of the IMF doors. Will not happen within the next decade, at least. This is based on how economic parameters like industrial, services and manufacturing indices perform and trends thereof in the past decade.

So to say, that the Indian boom is over is correct - but you know, boom is not the only positive name for a performing economy. Economies start off with a boom and then they stabilize. We had stabilised in 2010-2011 with a 8% growth rate. Of course, that has fallen now - but that has coincided with economic crises right and left. No economy is unaffected.

Secondly, inflation. Inflation did not increase in May 2012. Inflation has been rising since early 2009. Incidentally, in the past few months it had decreased slightly before now rising due to the rupee's fall. India has managed this rising inflation for over 2 years now - we will handle the current inflation situation too.

Third, buy gold? Gold prices are at an all time high now - have been rising since late 2009. Buying surplus gold now will only lead to loss later as the prices will fall eventually. Because, in a falling economy, where everyone is selling gold, the value of gold will proportionately fall. But this doesn't matter - because Indians are traditional buyers of gold, price notwithstanding. So I fail to understand your exhortation to buy gold 15 months ago and now.

Your concerns are much appreciated as this is a big issue. A collapsed Indian economy will definitely bring Asia down if not the world markets - India is a major emerging market player. But the RBI is known as a tough monitor and while, they will play by the rules and will not take any drastic action, they can be counted to closely monitor and take appropriate action. So the markets and individuals are not yet in full panic mode - counting on the new and ongoing projects in bring in investment. Let's see.

As for toilets, erm...it's old hat now, even for you. With the monsoon here, can we talk about overflowing drains maybe? Any stats on those?

 

[Space Cat]

Can they wait till i get my new cricket gear ordered. So cheap!

 

[Namak_Halaal]

First off, never take literally whatever the ratings agencies say. I understand that most of your views on the current Indian economic environment stems from the S&P rating revision. In India, we are used to being told by the West that come next dawn, we will be queuing up with a bowl in front of the IMF doors. Will not happen within the next decade, at least. This is based on how economic parameters like industrial, services and manufacturing indices perform and trends thereof in the past decade.

So to say, that the Indian boom is over is correct - but you know, boom is not the only positive name for a performing economy. Economies start off with a boom and then they stabilize. We had stabilised in 2010-2011 with a 8% growth rate. Of course, that has fallen now - but that has coincided with economic crises right and left. No economy is unaffected.

Secondly, inflation. Inflation did not increase in May 2012. Inflation has been rising since early 2009. Incidentally, in the past few months it had decreased slightly before now rising due to the rupee's fall. India has managed this rising inflation for over 2 years now - we will handle the current inflation situation too.

Third, buy gold? Gold prices are at an all time high now - have been rising since late 2009. Buying surplus gold now will only lead to loss later as the prices will fall eventually. Because, in a falling economy, where everyone is selling gold, the value of gold will proportionately fall. But this doesn't matter - because Indians are traditional buyers of gold, price notwithstanding. So I fail to understand your exhortation to buy gold 15 months ago and now.

Your concerns are much appreciated as this is a big issue. A collapsed Indian economy will definitely bring Asia down if not the world markets - India is a major emerging market player. But the RBI is known as a tough monitor and while, they will play by the rules and will not take any drastic action, they can be counted to closely monitor and take appropriate action. So the markets and individuals are not yet in full panic mode - counting on the new and ongoing projects in bring in investment. Let's see.

As for toilets, erm...it's old hat now, even for you. With the monsoon here, can we talk about overflowing drains maybe? Any stats on those?

No I do not base my view on rating agencies. The math is pretty obvious.

I think you are making a fundamental mistake here as most people would.

Gold is less of a commodity but more of a currency. The 'price' of Gold in USD, GBP, EUR, YEN, PKR, or IMR, is an indicator of how strong the respective currency is.

Gold has been moving up since 2009 in INR? That's because since 2009 the INR has been weakening at a steady pace. This goes for most currencies.

When you buy Gold you are preserving your wealth/value of your money against a depreciating currency.

The effect of currency depriciation: a 5c coke bottle in the 1920s costs $1 today. This tells you that the $ has lost 95% of it's value.

Buy an ounce of Gold in the 1920s (around $20) and today the same ounce is around $1600.

We will see price fluctuations in Gold for sure, but as long as governments are creating money, paper currency will weaken, Gold will move up.

There's a $670 Trillion scar from the Credit Crunch. I don't see the price of Gold dropping any time soon.

By the way, I do agree Rating Agencies are a scam but unfortunately there's alot of dumb people out there who trust the agencies. This means when rating agenies talk - the gullible listen.

 

[soton]

Indian economy is bound take a dip if you have a pranab( pundra pundra pachees )as finance minister .


Brilliant...You have screwed Indian economy Pranab we will reward you and make you president of India Now you can screw the whole country.

sent from my Galaxy SII with Sleek ICS ROM

 

[insaan]

Indian economy is bound take a dip if you have a pranab( pundra pundra pachees )as finance minister .


Brilliant...You have screwed Indian economy Pranab we will reward you and make you president of India Now you can screw the whole country.

sent from my Galaxy SII with Sleek ICS ROM

Yes, instead of being held accountable, rebuked and shamed, he has been given a golden parachute and will be our Hon'ble President.

 

[Kalari]

No I do not base my view on rating agencies. The math is pretty obvious.

I think you are making a fundamental mistake here as most people would.

Gold is less of a commodity but more of a currency. The 'price' of Gold in USD, GBP, EUR, YEN, PKR, or IMR, is an indicator of how strong the respective currency is.

Gold has been moving up since 2009 in INR? That's because since 2009 the INR has been weakening at a steady pace. This goes for most currencies.

When you buy Gold you are preserving your wealth/value of your money against a depreciating currency.

The effect of currency depriciation: a 5c coke bottle in the 1920s costs $1 today. This tells you that the $ has lost 95% of it's value.

Buy an ounce of Gold in the 1920s (around $20) and today the same ounce is around $1600.

We will see price fluctuations in Gold for sure, but as long as governments are creating money, paper currency will weaken, Gold will move up.

There's a $670 Trillion scar from the Credit Crunch. I don't see the price of Gold dropping any time soon.

By the way, I do agree Rating Agencies are a scam but unfortunately there's alot of dumb people out there who trust the agencies. This means when rating agenies talk - the gullible listen.

2009 was a key year for India: The food inflation almost got out of hand (we were able to pull it back a bit but it is all over the place again), the rupee began falling and gold prices rising. I agree that all these are intrinsically linked. And that is why, the long climb up is going to be a messy one. Leaning hard on the govt to pass reforms quickly (the Oppn is equally accountable here as they have not allowed the Parliament much legislative function) and the banks to strictly monitor their credit.

As for credits agencies' and gullibility, the media is the most gullible of all - even when they know the truth, they will harp on this being an actual indicator of a nation's economic health and create confusion instead of a debate.

Ah well. Cheers!

 

[Kalari]

Yes, instead of being held accountable, rebuked and shamed, he has been given a golden parachute and will be our Hon'ble President.

That aside, I wonder why Pranab got the Presidency. For long, he has been held as a PM candidate for the Congress after Manmohan Singh. Wonder, if the lagging economy forced the Congress to not open him up to debate, come election time. This whole affair is curious, in a political sense. I am going to be keenly watching the proceedings.

Cheers!

 

[wasim-fan]

and the free fall continues. It was good while it lasted.

 

[IgnitedMind]

The rupee rallied on Friday to notch its third consecutive weekly gain after a narrowing trade deficit helped ease concerns about the country's fiscal outlook, while signs of foreign flows also helped.

Imports fell sharply in June, partly because of lower global oil prices, narrowing the trade deficit in June and providing a silver lining for a country facing concerns about its record high current account deficit.

Traders also cited strong buying by foreign investors into Indian debt and stock markets this month, which analysts have attributed in part to hopes for government policy reforms after the presidential elections on July 19.

"Oil imports have been coming down which is helping rein in the deficit. Foreign investors are also gradually bringing in money to invest in the new limits won in the debt auction," said K.N. Dey, director at Basix Forex.

"The rupee has recovered partially. It remains to be see what reforms the government implements after the Presidential elections," he said.

The partially convertible rupee closed at 55.14/15 as per the SBI closing rate, from its Thursday close of 55.93/94. The rupee's 1.4 per cent gain for the session was its biggest in over a week.

The local currency rose 0.5 per cent for the week, marking its longest weekly winning streak in five months, despite rising worries about the global economy that have pressured global risk assets this week.

Foreign investors have injected a net of $1.63 billion in Indian markets so far this month. Some of the flows are seen tied to the auction of investment debt limits earlier this month, despite attracting more tepid-than-expected demand.

On Friday, dealers also cited large inflows in spot markets, which some said was related to a British telecom company.

The rupee has recovered sharply since hitting a record low of 57.32 on June 22. The gains have been reflected in offshore non-deliverable forward contracts, with one-month contracts quoted at 55.40, while the three-month were trading at 56.06.

Investors are now eyeing the inflation data on Monday, with a Reuters poll forecasting wholesale price inflation likely rose by 7.62 per cent in June from a year ago, the highest rate so far this year.

However, lower-than-expected inflation could provide room for the Reserve Bank of India to consider cutting interest rates at its July 31 policy review and help ease some of the worries about India's fiscal and economic outlooks.

In the currency futures market, the most traded near-month dollar-rupee contract on the National Stock Exchange, the United Stock Exchange and the MCX-SX all ended at around 55.25. The total volume was at $5.6 billion.

http://profit.ndtv.com/News/Article...narrowing-trade-deficit-foreign-buying-307841

 

[wasim-fan]

Interesting China's growth rate has lowered to 7.6%. Oh Well !! Maybe that too was oversold. It was good while it lasted

 

[deathstreak]

N_H is totally correct about one thing that is Gold. Gold is the best bet against 2 things. 1) inflation 2) currency weakening.

So when economies go down, gold becomes a good bet, but buying gold is no way an ability to keep or sustain your wealth. For that too happen you need to have a constant source of income that will sustain you through an economic downturn, else you will need to dip into your gold to fund your living and that is a guaranteed disaster.

INR weakening was a given, especially since it strengthened against the dollar without reason a few years back, when it should have weakened. It goes without saying the run against the INR was going to happen following the slowdown in the economic policies and the unearthening of scams. Heck quiet a few ppl i know made money by resisting temptation.

Gold and silver are commodities, they have a cycle and hey will move through them. Gols is a precious metal, it is also useful in other forms than gold bars and jewellery.

btw stock markets are an indicator but not a comprehensive indicator of the economy.
stock markets are a true indicator of the economy only if some assumptions are correct, and that is only possible in a true mature economy which India isn't...

 

[wasim-fan]

And it strengthens by Rs 2 in just one week and sensex is best performing among all the prominent exchanges for this week. With govt. insisting on reform we will see further increase.

So, NH, I guess it was good while it lasted

 

[anakin]

wow!! some very aggressive posts ... missed it
Things may slow down , but the future is bright.
bye bye thread!

 

[Senman]

) the in-house economy propossor(professor) is missing )

 

[anakin]

) the in-house economy propossor(professor) is missing )

"Class dismissed.!! there is a surprise test on Monday so brush up your fundamentals"
"and also I want everyone to score above class average"

 

[velu]

people who earn in $s will be disappointed

anyway none comes closer to N_H in trolling indians with very little effort

 

[wasim-fan]

Now at 52.40 and expected to be 50 by Dec.

 

[Manveer]

Another epic fail thread by N_H

 

[anakin]

I am surprised at how personal this thread has become!!
Just a spark over a few weeks has given voice to so many Indians and the OP has vanished
Rupee will continue to fluctuate in some range.
Won't be surprised by N_H's return to this thread with his thesis on economics when there is slight fall in rupee and market dips for awhile.

 

[Manveer]

I am surprised at how personal this thread has become!!
Just a spark over a few weeks has given voice to so many Indians and the OP has vanished
Rupee will continue to fluctuate in some range.
Won't be surprised by N_H's return to this thread with his thesis on economics when there is slight fall in rupee and market dips for awhile.

btw,i expect a sharp depreciation in inr & think 60 in a year is on .

 

[Fire Bird]

NH is a Grade A troll but what is equally cringeworthy is the boasting and the exaggeration of the average Indian. You wont believe how many Indians embarass me in foreign countries with their unrealistic boasting.

You can boast having a mercedes/hiyabusa but do yuo have good roads THROUGHOUT India. As Indians we pay a lot in taxes. We also pay road taxes every year for each vehicle on top of income taxes. What does the government do in return? I think everybody needs to get some reality in their lives and also some humility wont hurt anybody.

 

[Senman]

Professor will be back with economic lessons when rupee fluctuates again.

 

[wasim-fan]

NH is a Grade A troll but what is equally cringeworthy is the boasting and the exaggeration of the average Indian. You wont believe how many Indians embarass me in foreign countries with their unrealistic boasting.

You can boast having a mercedes/hiyabusa but do yuo have good roads THROUGHOUT India. As Indians we pay a lot in taxes. We also pay road taxes every year for each vehicle on top of income taxes. What does the government do in return? I think everybody needs to get some reality in their lives and also some humility wont hurt anybody.

I am sorry which Indians are we talking about here. 8-10 % growth in last 10-15 years is as much a reality as malnutrition and poverty. I don't believe any sane voice can remain in denial.

 

[anakin]

btw,i expect a sharp depreciation in inr & think 60 in a year is on .

Naah, true value should be around 50-52 only.. the dips to 57 was overly
bear view on India.
Rupee is under strain because of imports of petroleum and gold mostly.
With rationalizing of subsidies, consumption growth of petroleum is bound to slow down.
(Can anyone get a stat on what percent of our import bill is petroleum, gold)
Don't bet on rupee going to 60, if it does ... it will be the time to buy heavy because the only way from that point would be up !

 

[Fire Bird]

I am sorry which Indians are we talking about here. 8-10 % growth in last 10-15 years is as much a reality as malnutrition and poverty. I don't believe any sane voice can remain in denial.

You can talk abaout growth all you want. But there is power outage of 1 hour in metros and 8-10 hours in small towns. Roads are horrible except for main roads. When it rains for one hour, there are huge puddles in the roads. In my city, waste management means dumping waste in nearby "river". It used to be a clean river when we got independence. Now you will catch a disease if you live near it. Not the growth I was lookinf forward to.

 

[anakin]

You can talk abaout growth all you want. But there is power outage of 1 hour in metros and 8-10 hours in small towns. Roads are horrible except for main roads. When it rains for one hour, there are huge puddles in the roads. In my city, waste management means dumping waste in nearby "river". It used to be a clean river when we got independence. Now you will catch a disease if you live near it. Not the growth I was lookinf forward to.

Don't be so -ve. Compare what resources we had 20 years and what we just take for granted. we have grown, but there is ample scope to grow and grow.

1/6th of Humanity cannot be developed overnight.

 

[wasim-fan]

You can talk abaout growth all you want. But there is power outage of 1 hour in metros and 8-10 hours in small towns. Roads are horrible except for main roads. When it rains for one hour, there are huge puddles in the roads. In my city, waste management means dumping waste in nearby "river". It used to be a clean river when we got independence. Now you will catch a disease if you live near it. Not the growth I was lookinf forward to.

So again who is in denial. Just because you talk about one thing doesn't mean the exclusion of other aspects.

 

[Senman]

N_H is lot of fun, won't call him a troll as trolls will post & hide but N_H will stay till the end.

 

[Fire Bird]

Don't be so -ve. Compare what resources we had 20 years and what we just take for granted. we have grown, but there is ample scope to grow and grow.

1/6th of Humanity cannot be developed overnight.

The (natural) resources were the same as before. Same agricultural lands, water, etc. Roads and rails are a legacy of the British Empire. Our government cant even maintain them let alone come up with improving it.

I know it cant be developed overnight. But thinking can be done in a moment - Faster than the speed of light. What happens after that.

 

[Fire Bird]

Don't be so -ve. Compare what resources we had 20 years and what we just take for granted. we have grown, but there is ample scope to grow and grow.

1/6th of Humanity cannot be developed overnight.

Im one of those glass halfull person growing up but I'm just witnessing a lot of frustration from me and people aroung me. P8sses me off when I see people learn the negative things from other culture but not the positive.

 

[anakin]

The (natural) resources were the same as before. Same agricultural lands, water, etc. Roads and rails are a legacy of the British Empire. Our government cant even maintain them let alone come up with improving it.

I know it cant be developed overnight. But thinking can be done in a moment - Faster than the speed of light. What happens after that.

Wow!! @Fire Bird: are you a Anna Hazare supporter or pro BJP? Plz do answer on that, I am not mocking in anyway.

As for to think, road and rail to be British legacy:
Do you really think we are using 100 yr old technology??
I would love to share some stats on our growth soon.. but sly lazy tonite .

Anyways: guys help me on stats of import bill plz . What share is petroleum, gold etc.?

 

[Arcturus]

N_H keeps on harping about buying gold and all this time India has been the biggest spender on gold...

 

[Fire Bird]

So again who is in denial. Just because you talk about one thing doesn't mean the exclusion of other aspects.

Just read what you wrote. That describes the average Indian including you. When we go to the west, we talk about the Mumbai highway ans skyscrapers but what about the slums and bumpy side roads without manhole covers.

PS: Slums is not the govt's fault alone. Lot of slum dwellers sell/rent their govt-allotted aprtments and go back to slums. Talk about greed. Rich man is greedy. So is the poor man. Middle class pays tax

 

[Fire Bird]

Wow!! @Fire Bird: are you a Anna Hazare supporter or pro BJP? Plz do answer on that, I am not mocking in anyway.

As for to think, road and rail to be British legacy:
Do you really think we are using 100 yr old technology??
I would love to share some stats on our growth soon.. but sly lazy tonite .

Anyways: guys help me on stats of import bill plz . What share is petroleum, gold etc.?

I dont think Hazare can do much. When you have an old man fighting for a cause that young need to take up, you know who we are

No, Im not a BJP supporter. In fact, Im not a supporter of any parties. Politicians are only a reflection of the people. When you have a population that is becoming increasingly greedy, materialistic, lazy, deceitful, you get politicians who have similar qualities.

George Carlin breaks it down for the public

http://www.youtube.com/watch?v=07w9K2XR3f0

 

[Senman]

Anyways: guys help me on stats of import bill plz . What share is petroleum, gold etc.?

Use this link.


http://commerce.nic.in/ftpa/comq.asp

 

[Fire Bird]

Wow!! @Fire Bird: are you a Anna Hazare supporter or pro BJP? Plz do answer on that, I am not mocking in anyway.

As for to think, road and rail to be British legacy:
Do you really think we are using 100 yr old technology??
I would love to share some stats on our growth soon.. but sly lazy tonite .

Anyways: guys help me on stats of import bill plz . What share is petroleum, gold etc.?

If you are talking about airconditioned work facilities for the white collar worker, no. If you are talking about side roads and the sewage system, HELL YES. And we cant even maintian them in order. Every day around 7PM, it stinks of sewage outside my apartment. So much for paying income tax. And BTW, Income tax is directly deducted from your paycheck. How about show that same efficiency when it comes to actually providing the services that your tax supposedly pays for.

 

[Arcturus]

^ Mumbai still has drainage system put in place by British. For a city that pays maximum taxes the infra is quite poor.

 

[anakin]

If you are talking about airconditioned work facilities for the white collar worker, no. If you are talking about side roads and the sewage system, HELL YES. And we cant even maintian them in order. Every day around 7PM, it stinks of sewage outside my apartment. So much for paying income tax. And BTW, Income tax is directly deducted from your paycheck. How about show that same efficiency when it comes to actually providing the services that your tax supposedly pays for.

You didn't answer my question about being supporter of Anna or BJP?
As for the road network, it has grown enormously over the years, and as for quality: you get what you pay for!
(Stats will be posted tomorrow, would luv to have a discussion on this hopefully N_H still reads this thread , he will learn something too)
As for TDS: do you actually pay the total tax you are supposed to pay or find loop holes to make some paltry gains ??
Tax goes to a lot of things, Government is also paying for your cooking gas, and petrol bill. It is also subsidizing your train travel (fares were hiked after 10 yrs!!!), its subsidizes your education too.

 

[Fire Bird]

You didn't answer my question about being supporter of Anna or BJP?
As for the road network, it has grown enormously over the years, and as for quality: you get what you pay for!
(Stats will be posted tomorrow, would luv to have a discussion on this hopefully N_H still reads this thread , he will learn something too)
As for TDS: do you actually pay the total tax you are supposed to pay or find loop holes to make some paltry gains ??
Tax goes to a lot of things, Government is also paying for your cooking gas, and petrol bill. It is also subsidizing your train travel (fares were hiked after 10 yrs!!!), its subsidizes your education too.

I did. #220. Check above before posting.

Your post reeks of arrogance and assumption. I dont do any manipulations in TDS.

You talk about growth of roads. But you dodge the issue of road quality and most improtantly sewage treatment. Government is a reflection of people. And most people suck.

Do you work for the government . What do you mean by you get what you pay for. I pay for a lot and receive way less in return.

 

[Fire Bird]

^ Mumbai still has drainage system put in place by British. For a city that pays maximum taxes the infra is quite poor.

Read this Anakin. Im glad to know that Im not alone in my views

 

[anakin]

Read this Anakin. Im glad to know that Im not alone in my views

Quite a thunderstorm in my place guys. Lost Power
will continue tomorrow ..

 

[anakin]

Use this link.


http://commerce.nic.in/ftpa/comq.asp

Thanks a lot man!!

 

[MattyB]

I really have never understood why some Indians were enjoying this so called boom of India when there are more people in poverty than sub Saharan Africa? This will only get worse as their population booms and the nations goes back many steps.

also lol@Qazzarfan, the irony of his claim.

It is this boom that will hopefully reduce the amount of people in poverty in India. There was huge amounts of poverty in the UK at the start of the Industrial Revolution. Initially it was only the factory owners who got richer however this wealth slowly tickled down over the years improving the standards of living of the average person.

Poverty is never going to be eliminated overnight but standards of living will improve as India gets wealthier.

 

[Namak_Halaal]

LOL! Indians finding solace in a blip! Indian Rupee is not strengthening because of the contracting Indian economy but because the $ is weakening. QE3 or should I say QED.

 

[Namak_Halaal]

N_H keeps on harping about buying gold and all this time India has been the biggest spender on gold...

Mickey mouse jewellery doesn't even dent the bullion market. Despite India selling Gold, Gold has set new records in multiple currencies.

Bullion market doesn't give a hoot about India's Gold market.

 

[Fire Bird]

LOL! Indians finding solace in a blip! Indian Rupee is not strengthening because of the contracting Indian economy but because the $ is weakening. QE3 or should I say QED.

May I ask why do you find such an interest for all things Indian

 

[wasim-fan]

Just read what you wrote. That describes the average Indian including you. When we go to the west, we talk about the Mumbai highway ans skyscrapers but what about the slums and bumpy side roads without manhole covers.

PS: Slums is not the govt's fault alone. Lot of slum dwellers sell/rent their govt-allotted aprtments and go back to slums. Talk about greed. Rich man is greedy. So is the poor man. Middle class pays tax

You cannot blame others for your poor comprehension abilities, worse than an average Indian I dare say. Please quote me and state exactly where there was denial of basic problems.

Again you use "we" quite generously. Maybe you are unlucky to be surrounded by such kind of people, not surprising. Maybe it is difficult for "people like you" to understand that every group has bring its own narrative. If you are looking for business, you have to talk about business prospects and growth story, if you are looking for donations or any charitable cause you have to talk about malnutrition, illiteracy, poverty etc.

Learn to read the post and reply before breaking into idiotic ranting.

 

[wasim-fan]

LOL! Indians finding solace in a blip! Indian Rupee is not strengthening because of the contracting Indian economy but because the $ is weakening. QE3 or should I say QED.

Oh!! I see has QE3 impact. Eur goes from 1.31 to 1.280 / $. Yes weakening $ indeed.

As great US president once said " Fact are stupid things "

 

[Fire Bird]

You cannot blame others for your poor comprehension abilities, worse than an average Indian I dare say. Please quote me and state exactly where there was denial of basic problems.

Again you use "we" quite generously. Maybe you are unlucky to be surrounded by such kind of people, not surprising. Maybe it is difficult for "people like you" to understand that every group has bring its own narrative. If you are looking for business, you have to talk about business prospects and growth story, if you are looking for donations or any charitable cause you have to talk about malnutrition, illiteracy, poverty etc.

Learn to read the post and reply before breaking into idiotic ranting.

Whats with the name calling. Ad hominem attacks and nitpicking translates to having nothing better to say. Makes for a poor argument from your end.

You ask me to quote you on where you denied problems. Your lack of acknowledgement of those problems while you toot your horn about "growth rate" isnt enough?

 

[Senman]

@Fire Bird

I agree lot needs to be achieved infrastructure-wise but we can justly be proud of what had been achieved in a troubled war-prone, terrorist -prone neighborhood we live in. We can't blame center for everything, you need to ask questions to your local counselor or V.O about sewage problems near your house. Fact is we as people never question our representatives but easily blame center for all our regional/community/society issues.

Slums can easily be cleared by ordering poor, who arrives from nearby villages to seek job, to get out of the cities but we are not that kind of country. So wait till the wealth trickles down to the poorest of our society, maybe your son or grandson will enjoy the slum-free India.

The next time when you get embarrassed by fellow Indians being proud of our country please remember they are also equally embarrassed by your bleak narrative of our country. Cheers.

----------------------------------------------------------------

Now back to the thread: I think Rupee will fluctuate between 50 to 60 based on our reform policies. Double digit GDP and single digit inflation will be the key.

 

[anakin]

Mickey mouse jewellery doesn't even dent the bullion market. Despite India selling Gold, Gold has set new records in multiple currencies.

Bullion market doesn't give a hoot about India's Gold market.

AND HE IS BACK!!!!!!

plz read the link here:
http://www.goldfacts.org/en/faqs/#q_where_are_the_main_geographical_markets_for_gold

How big is the investment market for gold?
29% of gold consumed is used for investment (59% is for jewellery and the remaining 12% put to technological use).

Where are the main geographical markets for gold?
The three biggest markets for gold jewellery are:

India – accounting for 746 tonnes of in 2010, nearly twice the second largest market;

China – which accounted for 400 tonnes in 2010, more than three times the third largest market;

USA – which bought 129 tonnes of gold jewellery in 2010


and a polite request you to go away to allow some fruitful discussion to proceed here.

 

[Arcturus]

^ Thanks Anakin for getting the figures. N_H please dont let facts dissuade you from enlightening us all

 

[Namak_Halaal]

Lovely.

One only has tolook at the price of Gold Bullion in Indian Rupees since 2008 to realise how delusional the sheeple are. While indians are selling Mickey Mouse jewellery the price of bullion in INR is heading into orbit : http://goldprice.org/gold-price-india.html

India can keep it's watered down jewellery bakwaas because the Bullion market doesn't care. (As per link above).

The markets prey on the very ignorance displayed by these Indian children. While they buy mobile phones and toys the INR is heading straight towards toilet paper status.

[Mr.T] I pity the fool! [/Mr.T]

PS: Do your homework!

 

[anakin]

Gold rose nearly the same percentage(200%) against the pound , some 130% againt the dollar but only 60% against the yen. The Japanese economy must be booming isn't it!!!

Request all posters on the thread to ignore N_H once and for all

@firebird, Senman, Arc and others : lets continue our discussion.