dollar hitting 188, bloodbath at stock market crash

[Olympus81]

The public is already itching to go full retard on Imran Khan’s call. I am sure Imran Khan won’t go full retard. He wants to work within the system.

But you never know if the establishment keeps pushing him to the corner, anything can happen. Though chances are slim.

Pakistan’s army is strong and they will step in to restore order.

 

[SoulSpokesman]

Currencies of developing countries are in free fall, so are stock exchanges. INR is at all time low. There is nothing exceptional about Pak's situation.

Regards

 

[Chat SAMOSA]

There's always political turmoil in democracies and developing nations but current situations are to varying degrees, the crimes of China and Putin. First, the Wuhan virus related spread was mishandled by CCP including hiding it too long and thus allowing it become a global catastrophe; and just as we were all recovering from it, Putin unleashed the Ukraine genocide sky rocketing fuel and food prices. Only USA is somewhat immune / limiting impact thanks to local food and oil abundance.

Result : USD remains king and almost all other currencies dive. Plus fed policy tightening credit and rates ensures forthcoming 3 to 6 months of similar trend.

Countries with excellent $ reserves can weather this storm a bit better but none are in control of it all.


Pakistan unfortunately finds itself with very little $ reserves at this crucial time. Political instability makes it impossible to raise loans without paying high interest rates given risk profile.

I won't be surprised if your govt is not working to pull together a 'Aid Pakistan' consortium like in the past with USA, France, etc and who knows may be China can join as well.

IMF is very much against any country taking money and sending a lot of it to China.

BTW one of the nastiest jokes I've ever seen played is Putin not telling Imran Khan tht there's a war starting on the day he is scheduled to visit! While I've seen several threads discussing the plus minus of such a visit, haven't seen any mention of this great insult. Putin was in Beijing and held of a war till after.

 

[pikkuboss]

Currencies of developing countries are in free fall, so are stock exchanges. INR is at all time low. There is nothing exceptional about Pak's situation.

Regards

The difference is INR is free falling because RBI and Govt is letting it fall, while PKR free fall is inevitable, uncontrollable. We have a choice, they don't.

 

[SaadH]

Currencies of developing countries are in free fall, so are stock exchanges. INR is at all time low. There is nothing exceptional about Pak's situation.

Regards

Only a few weeks ago, global inflation, supply shortages and high energy costs was some how made out to be Pakistan specific problem and all Imran Khan's doing...Now all of a sudden it's a global phenomenon..

 

[pikkuboss]

Only a few weeks ago, global inflation, supply shortages and high energy costs was some how made out to be Pakistan specific problem and all Imran Khan's doing...Now all of a sudden it's a global phenomenon..

It's still a Pakistani problem my friend. INR is falling because RBI isn't controlling it for economic benefit in long term. We have got our short term problems sorted so we are looking at long term. While PKR is falling because your Reserves are depleting, SBP unable to control it and Pakistan hasn't got its short term problems shorted like Saudi Loan, Oil credit, Chinese loan rollover.

 

[AZ1]

https://twitter.com/x/status/1523930668627070977

Some says its 189

 

[jupiter2007]

Saudis and Chinese would be stupid to give even a penny to criminals who ship off their own wealth to offshore banks while asking others to bail them out!!


I think the Saudis and Chinese know Pakistan is a sinking ship.... They aren't stupid...

Pakistani rupee is toilet paper as soon as the overseas Pakistani stop remittances....

I am surprised that Establishment didn’t think about economy before they toppled an elected government.
Regardless how bad IK government performed in last 3.5 years, IK government was much better than previous two governments.

 

[Olympus81]

I am surprised that Establishment didn’t think about economy before they toppled an elected government.
Regardless how bad IK government performed in last 3.5 years, IK government was much better than previous two governments.

Bajwa and co were under impression that US aid will come, IMF loans will be given on easier terms, once they do sajda to US.

You see, our COAS is that good. He can multi task and double as a Finance Minister, Foreign Minister, Army Chief, Politician etc.

Except he is good at nothing.

 

[Wood]

A lot of doom and gloom here because of domestic political partisanship

Most likely scenario is fuel subsidy roll back, IMF program continuation and support from strategic alliances to get out of immediate crisis. Long term solutions will be more interesting and we have to see what ideas the government has in its bag

 

[WinterFangs]

Wheres the patwaris crying now, whenever tomato prices went up by 4rupees they would be the first one to cry, now suddenly they disappeared

 

[Olympus81]

In hindsight, had Imran Khan allowed to deal with Russia to get cheaper oil/wheat. Continue dealing with US, EU. Things could have been different. Would not have been ideal situation, as inflation would continue to bite, but situation will be better than what it is today.

Now enjoy the fruits of our general’s foreign policy oversight.

 

[Stallion29]

Saudis and Chinese would be stupid to give even a penny to criminals who ship off their own wealth to offshore banks while asking others to bail them out!!


I think the Saudis and Chinese know Pakistan is a sinking ship.... They aren't stupid...

Pakistani rupee is toilet paper as soon as the overseas Pakistani stop remittances....

Exactly, oversease pakistanis dont feel sorry anymore. Stop feeding the cancer with food. Corrupt courts, corrupt media, corrupt army, corrupt mafia family zardari sharif. Stop sending your hard earn money to those criminals

 

[EternalMortal]

Given the way things are going right now, IK should stop calling for early elections & just enjoy watching this circus collapse on its own. Prime talking material against PDM.

@SoulSpokesman
we don’t care about the stock market. what we’re mocking is their incompetence & hypocrisy since they said they removed IK b/c of devaluation, inflation & stock market performance. We were the ones trying to educate these morons on macroeconomic principles but they wouldn’t listen.

 

[Clutch]

and we have to see what ideas the government has in its bag

Fool me once shame on you, fool me twice shame on me. Pakistanis have been fooled 10 times.... Biggest fools in history.


If you expect a miracle from the same tested bunch of corrupt criminals.... Lol.... Just take a guess who's the fool..

Given the way things are going right now, IK should stop calling for early elections & just enjoy watching this circus collapse on its own. Prime talking material against PDM.

@SoulSpokesman
we don’t care about the stock market. what we’re mocking is their incompetence & hypocrisy since they said they removed IK b/c of devaluation, inflation & stock market performance. We were the ones trying to educate these morons on macroeconomic principles but they wouldn’t listen.

Exactly... Perhaps Imran Khan's removal is a blessing in disguise. Let this piece of rotten corpse drown. Let it burn down. Total economic meltdown like Sri Lanka and Zimbabwe.

Overseas Pakistani should stop sending any remittances or investing another penny in the corrupt establishment's DHA!...
Pakistani rupee to 500/1