Dreams of markets and Canada.

"The proportion of emerging economies in which per capita GDP is likely to grow faster than US is on course to surge from 48% over the last five years to 88% in the next five." "Global stock market investors, mesmerized by mega-cap American tech companies, have yet to respond." But, "America's growing reputation as the world's most irresponsible deficit spender - a financial empire that takes its reserve currency status for granted - threatens to undermine the dollar." Now markets in a select group of emerging nations will attract higher investments, wrote Ruchir Sharma. Indian markets are already soaring. "Nifty 50, the benchmark index of the Indian stock market, reached a new all-time high of 25,129.60 on Wednesday (yesterday)," and then "The Nifty 50 closed 0.14% up at 25,052.35, while the Sensex ended with a gain of 0.09% at 81,785.56." Mint. Individual investors are responsible for this explosion in our markets, as "the number of registered investors has gone from 40 to 100 million in a span of under four-and-a-half years," which means that "about 60% of our investors have very little memory of anything that happened in the stock market before 2020." Seizing this opportunity, in 2024, "promoters of over 250 companies have sold shares worth Rs 970 billion," wrote Vivek Kaul. As an example of this frenzy, the initial public offering (IPO) of "The Rs 120 million issue of Resourceful Automobile, which operates two Yamaha showrooms in New Delhi, received investor bids of over Rs 47 billion. The company has only eight employees, three in finance and legal, two in sales and marketing, one in HR and two in operations." ET. In addition, "Foreign portfolio investors (FPI) have infused Rs 113.66 billion in the Indian debt market so far in August," and a total of Rs 1.02354 trillion in 2024 so far. "Meanwhile, FPIs have pulled out Rs 163.05 billion from Indian equities this month so far on the back of unwinding of the yen carry trade, recession fears in the US and ongoing geopolitical conflicts in the Middle East." Mint. However, Indian stock markets are at record highs while yields on the benchmark 10-year Indian government bonds are at 6.983%, down from 7.327% in 2022. World Government Bonds. These figures show that India must be booming. Strangely, "Just a few years ago, getting admitted to a college in Canada would create a smooth pathway to a work permit and then permanent residency." "That smooth path to a Canadian dream has been disrupted," and Indian students are protesting to be allowed to stay there. ET. Why do young Indian students "dream" of Canada as a paradise when our External Affairs Minister S Jaishankar has said that Canada is a cesspit of "organised crime from India mixed with trafficking in people, secessionism, violence, terrorism"? Just invest in the stock market and paradise will be here. Or, will it?