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India faces mass default and restructuring as devaluation looms

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LOL....

Just look at the astonishing level of excitement among pure lander's and chini's !!! :laugh:

Current situation is just temporary,remember just like jan/feb ?? and rupee was back on 48 per dollar mark ?

lol@ morons..
 
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Here's an interesting excerpt from NY Times review of Ed Luce's book “In Spite of the Gods: The Strange Rise of Modern India”:

Despite its robust democracy and honest elections, India faces the future saddled with one of the most corrupt government bureaucracies on earth. Mr. Luce encounters a woman in Sunder Nagri, a New Delhi slum, whose quest for a ration card entitling her to subsidized wheat and other staples involved bribing an official to get an application form. The form was in English, which she could not read, so she had to pay a second official to fill it out. When she turned up to claim her wheat, it was moldy and crawling with insects. The store owner had evidently sold his good government wheat on the black market.

In the northern state of Bihar, Mr. Luce writes, more than 80 percent of subsidized government food is stolen. Most ration cards are obtained through bribery, by Indians who are not poor. It’s the same story in nearly every area of an economy touched by the groping tentacles of a government that “is never absent from your life, except when you actually need it.”

As a former cabinet official tells Mr. Luce, corruption is not simply a nuisance or an added burden on the system. Rather, he says, “in many respects and in many parts of India it is the system.”

Mr. Luce, traveling the country’s rickety rail system, covers an enormous amount of ground. He inquires into the Kashmir dispute while dissecting India’s fraught relationship with Pakistan; marvels over New Delhi’s spanking-new subway system; describes the middle class rage for megaweddings; pays a visit to Bollywood and, in some of his most absorbing chapters, analyzes the changing caste system, the status of India’s Muslims and the alarming rise of Hindu nationalism.

All this and a visit to C2W.com, a Mumbai company that markets brands through the Internet, cellphones and interactive television shows. Its founder, Alok Kejriwal, is still in his 30s, and to Mr. Luce represents the new India.

“I am greedy,” he tells the author. “I have no trouble admitting to that.”

At one point, Mr. Luce ponders India’s constant state of chaos and compares it to a swarm of bees. From inside the swarm, things look random, but from the outside, the bees hold formation and move forward coherently.

Sometime in the 2020s, at current growth rates, India will overtake Japan to become the world’s third-largest economy. Greatness lies within its grasp, Mr. Luce argues, if it can figure out a way to restructure its inefficient agriculture, put millions of desperately poor people in jobs that pay more than a pittance, wake up to a potential H.I.V.-AIDS crisis and root out government corruption.

Mr. Luce takes a cautiously optimistic view. “India is not on an autopilot to greatness,” he writes. “But it would take an incompetent pilot to crash the plane.”

http://www.nytimes.com/2007/01/17/b...int&adxnnlx=1337796139-D8Leuuch1YBLOybpbDwyQw
 
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i said this would happen long time ago.

i told that india was running a ponzi scheme and it would eventually collapse.

guess what the ponzi scheme is collapsing.

india is going the same way as zimbabwe, currency collapse and hyper inflation.

this is what happens when you run massive deficits and accumulate massive debt.
 
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you will be in eternal chaos!

currently yes. i can imagine a future, when men dont need to be told what to do, what not to do. government is the sign of primitiveness. just like our parents care for us when we are young. and then we take care of ourselves.

humanity has lot of growing up to do.

leaving children on their own will be chaos. let them grow up..

i said this would happen long time ago.

i told that india was running a ponzi scheme and it would eventually collapse.

guess what the ponzi scheme is collapsing.

india is going the same way as zimbabwe, currency collapse and hyper inflation.

this is what happens when you run massive deficits and accumulate massive debt.


slow down kid.

....Bingo!.....

it is infact possible only when humans have a very high level of development. anarchy is not the state of chaos. it simply means "lack of government."
 
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currently yes. i can imagine a future, when men dont need to be told what to do, what not to do. government is the sign of primitiveness. just like our parents care for us when we are young. and then we take care of ourselves.

humanity has lot of growing up to do.

leaving children on their own will be chaos. let them grow up..

it is infact possible only when humans have a very high level of development. anarchy is not the state of chaos. it simply means "lack of government."

that is unrealistic! a utopia! do you know why?
 
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i said this would happen long time ago.

i told that india was running a ponzi scheme and it would eventually collapse.

guess what the ponzi scheme is collapsing.

india is going the same way as zimbabwe, currency collapse and hyper inflation.

this is what happens when you run massive deficits and accumulate massive debt.

:rofl:
a chinese teaching us a ponzi scheme :cheesy:
 
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that is unrealistic! an utopia! do you know why?

only governments have thought of utopia. the communists have thought about Utopias. The capitalists have thought of utopia. Mao has thought, Karl Max has thought, Gandhi has thought.

all utopias are basically fantasies. what i am saying is possible. in the far future it is possible, that the technological advance is so great, that food, water, neccessities of life are taken care of, with minimal cost.

what do you need government for ? making roads ? bridges?

or policies ? wars ? peace ? Do you not see the state exists to preforms these functions. basically human needs can be, in the future completed without the need of a state or a government. this can be done. when states and governments are abolished, societies and ideologies are abolished, man can live in a state of true social freedom.

i have no concern with the state, the country, the government, the society. i am concerned only with the individual. because only the individual exists. everything else is virtual, imaginary.
 
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@indian. Our basic is very strong. Dont worry about short term crisis:)
 
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Because Argentinians and Brazilians don't come on here and insult every other country on this forum. But Indians do.

This is just a little of what you guys have been giving to others.


Please....be my guest and give me one post that insulted China and was not a reply to a degrading post by a chinese....
in return I can give you thousands of such posts if you so require....
 
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self delete

Well, Europe and India are not Pakistan, so we should consider our national interests first before bailing them out. :coffee:

I could have written a long, scathing reply in response to this, but unlike ou I am not an internet warrior and actually have a life..I would not want to waste my time on a troll based on unfounded and imagined situations......
If you can prove that India is going to need a bailout in the first place I will gladly take back my words......
 
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