-------- Original Message --------
| Subject: | OECD: India Should Cut Fiscal Deficit to Support the Monetary Policy |
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| Date: | Tue, 22 May 2012 02:22:12 -0700 |
| From: | Jas Jain |
OECD: India Should Cut Fiscal Deficit to Support the Monetary Policy
How come OECD is not giving the same advice to the US? Well, the US is the big dada, or the goonda boss, engaged in dadagiri. The same dadagiri that the "Russian" mafia engages in Goa, India, is done at the federal level in America by debt pushers in-charge of both the fiscal and monetary policies. The American big dada has the big dalla, the reserve currency. Abuse of a privilege results in losing the privilege some day. And that day might come sooner than people are prepared for.
INR hit new lows and there is lot more to go, because RBI simply does not have much firepower. besides, INR is overvalued relative to the USD as are many other currencies. Debtors can't be choosers unless one is the big American dada. People simply don't grasp the shaky foundations of the Indian economy; it wouldn't take much troubles in the global economy for the Indian economy to collapse.
Rich countries can get away with borrow-and-spend longer than poor countries. India, the UK and the US are on a bad path and would not be able to avoid severe depressions. There are bad and corrupt leaders in India, but nothing like those in America where we have legalized fraud and Facebook (FB) is the latest example. BTW, how many people in India understand what causes depressions in an American-style capitalism? Heck, how many Americans understand it? It is the debt, stupid! (The stock market is a substitute debt market).
Ja
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