The best piece I’ve read on the Indian economic malaise is Shekhar Gupta’s editorial in the Indian Express where he talks about the various policy failures and self inflicted problems that are worsening the Indian economy.
I can’t think of even a single economic metric that has improved in the last two years, and if things continue to be this way then we’re in for some bad times ahead.
It is no surprise then that Morgan Stanley’s 2012 Indian outlook predicts a pre – crisis level growth. They forecast a 6.9% GDP growth rate in 2012, and while these estimates tend to go wrong and have to be revised several times – they do accurately reflect the gloomy scenario that we see today.
Beyondbrics reports on a dispute between Reliance Industries and the government which is in turn delaying BP’s participation in Reliance’s deepwater exploration.
China has had problems of its own this year, and their stock market has done quite badly (not as bad as Indian ones though), and that’s one reason why a hedge fund that shorted the credit of companies that will do badly in a Chinese slowdown has returned over 52% this year.
The problems of the BRIC countries are getting quite a lot of attention these days, and I see quite a few references of BRIC as Beyond Ridiculous Investment Concept on my Twitter feed these days.
Over at the US, they are fighting a bill that allows censorship of the internet, and several prominent American businessmen and investors have been writing about it for quite some time. Sergey Brin joined them yesterday.
Prof. Jayanth Varma gives a few examples of currency breakups.
Finally, a new theory on why we lost our fur.
Enjoy your weekend!