A great chart from Pranabda’s white paper on black money
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Whats next for the Rupee?
In an earlier post way back in April, I had mentioned that the odds were very high for the rupee weakening.
Now that the Rupee has crashed to an all time low of around 55 Rs/$, whats next for the Rupee?
There are two distinct factors on the horizon which bode ill for the Rupee.
The first factor is that almost half of Indian reserves could vanish in the next one year.
The second factor is that FII inflows to date in Indian equities are still net positive.If they were to start selling like they did in 2008 because of geopolitical and other reasons, then the impact on the equity and currency markets would be dramatic
We are indeed living in interesting times !
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Chart:World ETFs down from all time high
A great chart from World Beta
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What was that again?
“Unfortunately, the world has seemed so reliant on China as a growth engine, I think this will accentuate the disappointment even more when it hard lands.
Once the bubble bursts, Canada might be a lightly done muffin, but Australia will be absolutely toast.”-economist Albert Edwards of Societe Generale said in an interview
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Linkfest:May 21, 2012
Some stuff I am reading today morning:
India is a risky ballgame (WSJ)
Homes most affordable in 30 years !! (FinancialExpress)
Is insider trading part of the fabric? (Nytimes)
Chinese bubble likely to burst (Globe&Mail)
Italy and the great tax revolt (ZeroHedge)
JP Morgan’s debacle and its parallels to AIG (Washingtonpost)
Going on faith (NYTimes)