Filtered Posts

India Votes - and How! ``that daughter of Italian Garibaldi and daughter-in-law of of India`s Gandhi``

Nasah , you fool , do you think its qualification enough to be daughter of somebody or daughter-in-law of somebody to be prime minister of a country of 1 bn people ?

What exactly are her qualifications exactly ? That she got hitched to Rajiv Gandhi ? Good enough to be PM ? I know many illiterate fools from rural India and Congress supporters in India think so...but thats basically reinforcing the caste system. Everything stays within the family. Qualification / merit immaterial.

Hell , the lady (a former waitress) can`t even speak without reading from a prepared text.

India Votes - and How! Okay , I finally get it...

Bihar - The Land of Opportunity....

Maybe the good doc might want to migrate to Bihar.

(The Bihari Dream...)

Shiners versus Whiners; it’s Economics, Stupid BalluKhan...

I`m happy you are happy.

But fact remains this mandate was for free power , jobs (in private sector) on basis of caste - merit/qualification not required , subsidies , freebies etc,

This was a mandate for statism and for stagnation.

This was a mandate against progress , against reforms.

This was a mandate against India becoming economically strong.

This was a mandate against shining India , against affluent middle class.

This was a mandate for making India one huge Bihar.

This was a mandate for weakening India economically and thereby militarily.

This was a mandate against the greatest Indian alive and his policies - Arun Shourie.

So ,this was a mandate for maintaining India`s third world status.

But if you are happy , I`m happy for you.

India Votes - and How! Shridar : ``The first thing is to be a humane society that respects law, pays taxes, and respects other`s life and property. I think Bihar is slowly moving in that direction.``

Lol. Idiot.

Sure , so is Rwanda.

India Votes - and How! Yogiraj ,

15-20% of India has investments in the stock market. Thats 200+ million people. They care what happens. For many , its a matter of life or death. My ajji (grandmother) was also illiterate. Didn`t stop my dad from becoming an IAS officer , uncle from practising law in UK etc. Just 2 generations back , my family was one of the bottom 10%. Now we are top 10%. That is how it works. All talk about elitism is nonsense. Those who are poor today need not be poor tomorrow. But the government cannot do that. Government has no business providing employment and stuff. Government`s job is to provide equal opportunity to all.

Its upto the individual whether he/she takes advantage of the opportunity or not. People are not created equal . So all talk of distribution of wealth is nonsense.

Equality in opportunity is the key. Not addressing disparities in wealth. For that will only mean bring the upper layer down , rather than raising the lower layer.

India Votes - and How! This is what a friend had to say >>
(Excellent analysis ,btw)

---

First of all, the government is not a family or a business. There is no question of ``family jewels.``

Second, it does not matter whther the unit is making a profit. What matters is whther the government should be in the business of business. Other than postal service, i cannot think of any business that the government should be in. I cannot think of any overriding national security concern for th government to be involved in banking, insurance, petrochemicals, scooters, tyres etc.

Third, even if the government has to be in business, sound investment/ divestment decisions have to be made on financial calculus not on emotional rhetoric like ``family jewels.`` It does not matter whether a company is making profits. What matters is the rate of return as ND correctly pointed out.

Finally, a lot of market commentators are arguing that this is just a panic reaction and the market will come back. Therefore, this a buying oportunity. They could not be more wrong. The market may well swing back. But the long-term trend is down. Make no mistake about that. I would see all rallies as selling opportunities. Because the NDA government built up a reserve of 115 billion dollars, we won`t face any immediate foreign exchange crisi. But this government will be no different than the VP SIngh government.

First, fiscal restraint will be thrown to the winds.
Second, reservation in the private sector will be introduced.
Third, reservations will be extended to other minorities.
Fourth, infrastructure spending will grind to a halt.
Fifth, any tentative labor market reforms are off the table.
Sixth, power sector, reforms will be setback. Freebies like in ANdhra will mean greater costs borne by industries, slowing growth.
Seventh, look for taxes on software and other exports and tax increases on middle class families, on white goods. Booming auto sales, will be brought to a crawl.

A lot of people think that having Manmohan and Chidambaram means that the COngress is no different than the NDA. They could not be more wrong. First, Manmohan is man with no convictions. He changes colors in 1991, he can do so again. Second, as i noted afew days back here on newshopper, Congress this time will be radically different from the Congress of 1991 or even the 1980s. This is more like 1969 (actually Asian Age also made a similar anaylsis today). The COngress then was beholden to the left. The same today. People knew little about Indira then. They know even less about Sonia now. To increse mass base Indira veered sharply o the left, nationalizng banks. Sonia, i predict will do the same. In 1969, the saner market friendly elements of the party were eliminbated in the party break-up. The failure of NDA today is see as a vote against market friendly policies.


India will be setback by at least a decade. That is being hopeful. That is why the market is reacting this way. Panic selling offers great opportunities in industrilaized markets where the institutions and policies are stable. Changes in government dont mean radical shifts in policies. Governments don`t have so much power. There are checks and balances and legislative changes take time and eveolve around consensus. India`s instituions are in flux. Baisc questions about the nature of the economy (capitalist or socialist) have not yet been resolved across the spectrum. So, any panic selling is not necessarily an excellent buying opportunity.

---

India Votes - and How! Shridar Mamu , its sad to see somebody educated like you falling prey to the age old commie/socialist crap. I am not in a mood to argue with anyone anymore. I`m tired of it all.

But an advice...do read `India Unbound` by Gurcharan Das. Might put some sense into you.

All I need to say is , the `mother teresa` approach doesn`t work. Wealth needs to be created before it can be distributed. When distribution of wealth is the sole criteria , you only end up distributing poverty. Investment works. Charity doesn`t. There are no free lunches. Profit making is the only thing that keeps the world running.

If economic reforms introduced in 1991 were anti-poor , how come poverty in India reduced from 41% in 1990 to 23% in 2003 inspite of an increase in population of 20% in the same period ?

Ambani`s job is to create wealth. Not to play Mother Teresa.

India needs Ambanis and Premjis. Not Mother Teresas.

---

Your comments on Bihar being well and okay only reflects your ignorance (and dare I say..stupidity?).

Seriously , I have no wish to say anything to a person who thinks it would be a good start for India to be like Bihar. I mean..what can one really say to you ?

Goodbye.

India Votes - and How! ``Could you advise me on how to buy a balanced portfolio of Indian stocks with my NRO account in India? ``

Sure , Just send your credit card details to mohammed_akhtar_india@yahoo.com. (For verification purposes.)

India Votes - and How! ``How do you know this is not engineered by the ultra patriotic BJP`s contacts within the market ?``


Yeah right !!! BJP-ultras are fanatic enough to lose their own money !!!

Its economics stupid !!! Investors just dont see a future for themselves in an India ruled by commies and other reptiles.

The MARKET has spoken. We dont like this government !! And we are getting the hell out!!!

Bye bye India...

India Votes - and How! 2 Trillion (200,000 crore) worth of market capitalisation went puff in only one hour of trading on BSE. Note only BSE! The NSE- which is highly capitalised since being the most advanced stock market in the country- has also been crashing, not to talk about markets in Bangalore, Delhi, Kolkata and Kochi....


We are probably looking at a loss of close to 500,000 crore`s worth of market cap.

India Votes - and How!
``I wonder why you guys fail to realize that the same system that brought Sonia to power will also kick her out if and when she fails to deliver.

I think we all are underestimating the power of democracy. ``

Power of Democracy indeed. No wonder Laloo Prasad won 2/3rd of the seats in Bihar. No wonder leftists always win those 40-50 seats in WB and Kerala. Mayawathi wins 22 and Mulayam wins 39 in UP.

This is a mandate for the Biharification of India.

The Biharis , Bhaiyyas , Mallus and Bengalis have announced their verdict.

India Votes - and How! Great news, ladies and gentlemen.

Stock markets have tanked 554 points within the first 15 minutes of trading. A drop of 11% within 15 minutes. The market capitalisation wiped out would be anywhere around Rs. 175000 crores.

(A total of 300,000 crore rupees or $70 billion has been lost in 1 day +15 minutes of trading. )

This is the biggest fall in the history of Indian stock market. And the magnitude of fall is the biggest in the history of capital markets anywhere in the world.

Trading has been suspended by the Bombay Stock Exchange. Trading was not suspended even during wars.

Communist scums and CONgress traitors have decided to prove that `India shining` was wrong. And what better way than to screw up the economy so royally beyond any redemption. Having jettisoned my identity as an Indian ( I would prefer being called a pakistani, at least they are more nationalistic and have that human quality called shame) I am elated that Indian economy is going to dogs (read commies and CONgies). And I will be more elated when India breaks up into several pieces. Think of it, I would welcome with open arms any invasion by pakistan now. It makes no difference whether we are ruled by Musharaf or a mafia linked italian maid.

The future looks `interesting`.

India Votes - and How!
The news gets better.
INDEX DOWN 800 POINTS (A FALL OF 20% !!!)

The BSE recommenced trading after an hour of suspension. The stocks fell with a vengeance. Now BSE has suspended trading for 2 hours.

Looks like India is going to be wiped out very soon.

And I love it.

India Votes - and How! ``Meanwhile, can we all please get back to being our usual cheerful polytheistic animists arguing about Kashmir? ``

Veeresh Bhai , its all over. India was until now holding on to Kashmir because it was economically and militarily more powerful than Pakistan. (And incredulously as it will soon seem , had an economy worth PPP GDP of nearly $3 trillion growing at 8-10%)

But with Congress and Left in charge , and with their ridiculous socialist, populist policies in place - all such advantages will be lost. Instead of wealth creation , we will have distribution of poverty to close down the enormous gap that exists between the rich and poor.

Biharification of India has begun.

I fully expect Pakistan to annex Kashmir and a lot more within the next 3-4 years.

Indians will be too busy begging/fighting/rioting for food and water to notice.

---

Advice for upper caste middle class Indians >>

If you are living in India , get out asap . How long do you think this free electricity , subsidies , freebies will last ? Very soon with escalating fiscal deficits , enormous external debts etc . India`s financial structure will explode , banks liquidated , rupee devalued , savings wiped out.

Everything will be lost. Dont be so smug. Very soon , you will be out on the streets , begging , fighting, stealing for a couple of rotis.

Remember , this mandate is against people like you. People of India , the masses , have announced their verdict. They dont like rich people. You are going down

Shiners versus Whiners; it’s Economics, Stupid #21 ,
Nazar Khan ,

I only forwarded a popular e-mail that is doing the rounds...anything or anybody who is against this new socialist/communist administration will do for me. If some mullah sends me an e-mail saying Islam and islamic traditions will be at threat if Sonia comes to power , I`ll will forward it as well.

I want a government that will give India 10% gdp growth rates. The one people of India have elected won`t give any more than 3-4%. India`s recent economic success story is a closed chapter now. Back we go to the dark ages of Nehruvian socialism.

Indians have shot themselves in the foot.

India Votes - and How! ``One of the Shankaracharyas of South has gone on record sayin he will leave India if Sonia Gandhi becomes the PM.``

Lol. Dont know about Shankaracharyas , but I do expect upper caste middle class Indians , particularly the professional class , to leave India enmass , if they can.

This is a mandate against Indians who are indeed shining. Maybe all parts were not shining , but major portions were , for the first time in India`s history. The new administration will work at putting out this shine for good. The new government will end up distribute poverty and lowering India to sub-saharan levels.

All talk of India becoming the new land of oppurtunity has proved to be rubbish.

India will now be the New Africa.

---

Lets not intellectualise this mandate. Far too many people have given far too much credit to the Indian voter.

The Indian voter voted for free power. For jobs on basis of caste , not merit/qualification. For freebies and subsidies. For stagnation and statism.

And against reforms , accountability , merit , globalisation ,liberalisation.

The Indian voter has shown he doesn`t give a damn about India. He does not want India to be a global power. He wants things to be just as they were when Chacha Nehru was in charge.

He doesn`t really give a f... about India , just wants his power arrears to be cancelled.

Indeed , the much heralded farmers in Andhra Pradesh stopped paying their electricity bills for 6 months before election because the Congress had promised them (and which they did on the day of coming to power) to strike off their power arrears and also free electricity in future. So they voted in strength against the `disconnected CEO` CB Naidu , who was more interested in power reforms and accountability than in doling out populist freebies.

Lets see how long this free power lasts.

Lets see how long the Indian Nation lasts.

Not too long IMHO. The games over. Churchill was right. Indians do not deserve freedom.