I found this article here:http://randomchaliceblog.blogspot.in/2012/06/rupee-debauchery.html

 I found it well worth preserving on my blog/electronic scrap-book.The highlighted portion is stuff I find worth remembering.

Way back in 1957 Ayn Rand in her magnum opus showed the world as to what happens when the looting runs dry. When the government starts to trample over the productive society and re-distribute wealth it can certainly make some quick electoral gains but soon the nation is driven out of its vitality and resources; very soon there is nothing left for the government to re-distribute.

The sharp depreciation in the currency, a falling growth and rising inflation are just some signal towards such a scenario and to blame it like every other piece of internal economic travesty on some distant western country is an attempt to run away from reality.

The Indian rupee has been among the three worst performing currencies vis a vis the dollar in the past one year.  That is indeed quite an achievement considering that all our South Asian neighbours have done better than us. Read more of this post