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A Colony Once Again


wealthymattersA well-kept open secret: Washington is behind India’s brutal experiment of abolishing most cash – Norbert Häring

In early November, without warning, the Indian government declared the two largest denomination bills invalid, abolishing over 80 percent of circulating cash by value. Amidst all the commotion and outrage this caused, nobody seems to have taken note of the decisive role that Washington played in this. That is surprising, as Washington’s role has been disguised only very superficially. Read more of this post

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Global Recession


wealthymatters.comFor over a decade now I have enjoyed reading Swaminathan S. Anklesaria Aiyar’s Sunday TOI editorial column Swaminomics.I like his insight and willingness to call a spade a spade.Read and enjoy his article below.

Bad news: World is sliding into a new recession

24 JUN, 2012,SWAMINATHAN S ANKLESARIA AIYAR,TNN

Many rich countries have struggled for three years to emerge fully from the Great Recession of 2008-09 . Alas, the world is slipping into a new recession. No global authority has dared say so, but the writing is on the wall.

A classic lead indicator of a global recession is a crash in commodity prices, which is evident today.

Brent crude, the benchmark variety that determines Gulf oil prices for India, has fallen from $125/barrel in January to barely $ 90/barrel. Major global commodity indices have slumped over 20%. Mittal and Tata are closing some global steel plants because of falling demand. Prices of non-ferrous metals, cotton, coal and iron ore have crashed. Read more of this post

Remembering Shri PV Narasimha Rao


wealthymatters.comLike him or hate him or forget him,Narasimha Rao set India on the path of economic reforms.The Urea Scam might have tainted him and his strategy of Masterly Inactivity might have earned him criticism but to give the man his due, even when India might not have been in much of a position to bargain,he ensured that reforms and growth were initiated in such a way that it didn’t raise trenchant opposition.Here’s an article about the man’s achievements from yesterday’s paper.

Unsung hero of the India story

Swaminathan S Anklesaria Aiyar

Twenty years ago, Narasimha Rao became Prime Minister and initiated economic reforms that transformed India. The Congress party doesn’t want to remember him: it is based entirely on loyalty to the Gandhi family, and Rao was not a family member. But the nation should remember Rao as the man who changed India, and the world too. Read more of this post

This Day That Year


wealthymatters.comThis article was published in today’s Mumbai Mirror.Reading it took me back to another time when India was a very different place.I was then still in school.India was anything but shining.Poverty and shortages were so much a fact of life that few of us really had an idea of how poor we were since everyone around us was in the same situation and most people had very little exposure to what was going on in the rest of the world.There was no talk of India being an emerging/emerged nation.We considered ourselves as belonging strictly to the Third World and few asked why we should not want better for ourselves.Read the article below and if you’re Indian take a minute to pat yourself on the back for how far we have come in 2 decades.Take heart from it and know that we have it in us to overcome out present problems.And remember the story so that we are never again in the same situation. Read more of this post

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