Thursday, December 24, 2009
The economy is growing at nearly 8% and we are told that we can expect growth at 9-10% within a couple of years. Car sales are booming because of low interest rates and the Sensex has got its antigravity belt on. Food inflation is running at 20% but we are reassured that prices will come down in the new year. Companies are hiring again, exports have turned positive after months of fall and property prices are rising again. Thank God for our criminal politicians and uncivil servants who are managing everything so fantastically. Meanwhile the UK is in bad shape with high unemployment, enormous public debt and negative growth. The US grew by 2.2% in the last quarter but questions remain about how robust the growth is and some are forecasting a double dip. Japan is desperately trying to avoid deflation. There is serious concern about asset price bubbles forming in Hong Kong, Singapore and China. Inflation remains a serious threat everywhere but no one seems to know when to start tightening monetary policies again. Perhaps we could export our lot to other countries to show them how it is done. They would learn about pay commissions for gigantic numbers of useless kleptocrats, criminal politicians using public money for personal and family comfort, using Participatory Notes, PNs to reroute stolen black money into the stock market, creating wealth through land mafia, illegal mining in ecologically restricted areas and so many other wealth creating schemes. Stupid firangs.
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