Idefix/Merlot/Rashmun/Jebediah/MAXE

by Marathadi-Saamiyaar Tue Aug 27, 2013 7:43 pm

by Marathadi-Saamiyaar Wed Aug 28, 2013 2:16 am

Where is our Idefix and his economic analysis?

He was showing graph after graph to prove that UPA -1 , UPA-2, UP-infinity are all better than NDA, etc...

Now the FM himself has stated that he needed everyone's help to bring the economy back to 2005 level - meaning it is in worse shape.

So...what does he have to say? Or, any of those who supported his analyses?

by Merlot Daruwala Wed Aug 28, 2013 2:37 am

Upps Aunty, the FM is lowballing if he is only targeting 2004-level growth. I suppose that is good enough praise for chaddi lowbrows. Give yourself a pat on the back.

by Propagandhi711 Wed Aug 28, 2013 7:58 am

More bar charts coming up to tell you it's raining and not the upa pissing on your head. Coming right up to critical acclaim to a thread near you.

by southindian Wed Aug 28, 2013 8:44 am

I guess he's busy making moolah in rupee conversion, now that rupee is 66, still looking south.

Who says economy didn't do well under UPA2? His personal economy from $ to Re conversion surely showing a rising graph, while Onions strong with Rs 80/kg. Smile

by southindian Wed Aug 28, 2013 8:49 am

Merlot Daruwala wrote:Upps Aunty, the FM is lowballing if he is only targeting 2004-level growth. I suppose that is good enough praise for chaddi lowbrows. Give yourself a pat on the back.

aVivek, please carry your PAN card in India with you if you wish to order onion dishes for meals. Too many onion dishes and you could be flagged. Eat safely.

by Marathadi-Saamiyaar Wed Aug 28, 2013 9:14 am

Merlot Daruwala wrote:Upps Aunty, the FM is lowballing if he is only targeting 2004-level growth. I suppose that is good enough praise for chaddi lowbrows. Give yourself a pat on the back.

Maulana: for People who drive Verna and living in a high rise, it sure will look like a great performance by the UPA. Why don't you give "lift" for 4 people on your daily outings and ask those four about the economy. After all, you are not the one who is struggling to buy Onion.... Smile

)

So how are your "Kaboom" plans for Janmashtami coming along?

by southindian Wed Aug 28, 2013 9:20 am

southindian wrote:I guess he's busy making moolah in rupee conversion, now that rupee is 66, still looking south.

Who says economy didn't do well under UPA2? His personal economy from $ to Re conversion surely showing a rising graph, while Onions strong with Rs 80/kg.

I apologize for giving yesterday's conversion rate of 66. It is Rs 68+ for a $ today.

UPA shining.

by Seva Lamberdar Wed Aug 28, 2013 9:43 am

southindian wrote:
southindian wrote:I guess he's busy making moolah in rupee conversion, now that rupee is 66, still looking south.

Who says economy didn't do well under UPA2? His personal economy from $ to Re conversion surely showing a rising graph, while Onions strong with Rs 80/kg.
I apologize for giving yesterday's conversion rate of 66. It is Rs 68+ for a $ today.

UPA shining.

The quickest way to "strengthen" the rupee against foreign currencies is to release a "new" rupee in the place of current one and which has a value of 10 current rupees. This will bring back the good old days when one dollar used to be about 6 or 7 rupees. It will also add some respect to rupee in terms of its purchasing power .. people may be able to buy a cup of tea or coffee for a rupee or two, instead of shelling out 10 or 20 rupees (as happens currently).

by smArtha Wed Aug 28, 2013 10:43 am

Marathadi-Saamiyaar wrote:Where is our Idefix and his economic analysis?

He was showing graph after graph to prove that UPA -1 , UPA-2, UP-infinity are all better than NDA, etc...

Now the FM himself has stated that he needed everyone's help to bring the economy back to 2005 level - meaning it is in worse shape.

So...what does he have to say? Or, any of those who supported his analyses?

Actually he said to 2004 level and that is the key here. He concedes that UPA (both 1 & 2) took it south from there.

by Marathadi-Saamiyaar Wed Aug 28, 2013 10:45 am

Seva Lamberdar wrote:
southindian wrote:
southindian wrote:I guess he's busy making moolah in rupee conversion, now that rupee is 66, still looking south.

Who says economy didn't do well under UPA2? His personal economy from $ to Re conversion surely showing a rising graph, while Onions strong with Rs 80/kg.
I apologize for giving yesterday's conversion rate of 66. It is Rs 68+ for a $ today.

UPA shining.
The quickest way to "strengthen" the rupee against foreign currencies is to release a "new" rupee in the place of current one and which has a value of 10 current rupees. This will bring back the good old days when one dollar used to be about 6 or 7 rupees. It will also add some respect to rupee in terms of its purchasing power .. people may be able to buy a cup of tea or coffee for a rupee or two, instead of shelling out 10 or 20 rupees (as happens currently).

But let us not forget that the salary also will be 10% of the current value and hecne will be paid less than what my grandfather received... Razz

by southindian Wed Aug 28, 2013 11:09 am

Seva Lamberdar wrote:
southindian wrote:
southindian wrote:I guess he's busy making moolah in rupee conversion, now that rupee is 66, still looking south.

Who says economy didn't do well under UPA2? His personal economy from $ to Re conversion surely showing a rising graph, while Onions strong with Rs 80/kg.
I apologize for giving yesterday's conversion rate of 66. It is Rs 68+ for a $ today.

UPA shining.
The quickest way to "strengthen" the rupee against foreign currencies is to release a "new" rupee in the place of current one and which has a value of 10 current rupees. This will bring back the good old days when one dollar used to be about 6 or 7 rupees. It will also add some respect to rupee in terms of its purchasing power .. people may be able to buy a cup of tea or coffee for a rupee or two, instead of shelling out 10 or 20 rupees (as happens currently).

Sami is right.

A 10 to 1 consolidation of rupee will bring Rs 80/kg onion to Rs 8/kg and also Rs 50,000/month salary to Rs 5,000/month.

Who will buy Rs 8/kg onion with Rs 5,000 monthly earning?

by Hellsangel Wed Aug 28, 2013 11:25 am

Seva Lamberdar wrote:
southindian wrote:
southindian wrote:I guess he's busy making moolah in rupee conversion, now that rupee is 66, still looking south.

Who says economy didn't do well under UPA2? His personal economy from $ to Re conversion surely showing a rising graph, while Onions strong with Rs 80/kg.
I apologize for giving yesterday's conversion rate of 66. It is Rs 68+ for a $ today.

UPA shining.
The quickest way to "strengthen" the rupee against foreign currencies is to release a "new" rupee in the place of current one and which has a value of 10 current rupees. This will bring back the good old days when one dollar used to be about 6 or 7 rupees. It will also add some respect to rupee in terms of its purchasing power .. people may be able to buy a cup of tea or coffee for a rupee or two, instead of shelling out 10 or 20 rupees (as happens currently).

Amazing, Sevaji!

by goodcitizn Wed Aug 28, 2013 11:34 am

Hellsangel wrote:
Seva Lamberdar wrote:
The quickest way to "strengthen" the rupee against foreign currencies is to release a "new" rupee in the place of current one and which has a value of 10 current rupees. This will bring back the good old days when one dollar used to be about 6 or 7 rupees. It will also add some respect to rupee in terms of its purchasing power .. people may be able to buy a cup of tea or coffee for a rupee or two, instead of shelling out 10 or 20 rupees (as happens currently).
Amazing, Sevaji!

Kindly resist the craving to encourage him.

by Guest Wed Aug 28, 2013 11:45 am

goodcitizn wrote:
Hellsangel wrote:
Seva Lamberdar wrote:
The quickest way to "strengthen" the rupee against foreign currencies is to release a "new" rupee in the place of current one and which has a value of 10 current rupees. This will bring back the good old days when one dollar used to be about 6 or 7 rupees. It will also add some respect to rupee in terms of its purchasing power .. people may be able to buy a cup of tea or coffee for a rupee or two, instead of shelling out 10 or 20 rupees (as happens currently).
Amazing, Sevaji!
Kindly resist the craving to encourage him.

he doesn't need encouragement. his kombolotely brilliant suggestions fall effortlessly as dew does to pasture.

by MaxEntropy_Man Wed Aug 28, 2013 11:46 am

Hellsangel wrote:
Seva Lamberdar wrote:
southindian wrote:
southindian wrote:I guess he's busy making moolah in rupee conversion, now that rupee is 66, still looking south.

Who says economy didn't do well under UPA2? His personal economy from $ to Re conversion surely showing a rising graph, while Onions strong with Rs 80/kg.
I apologize for giving yesterday's conversion rate of 66. It is Rs 68+ for a $ today.

UPA shining.
The quickest way to "strengthen" the rupee against foreign currencies is to release a "new" rupee in the place of current one and which has a value of 10 current rupees. This will bring back the good old days when one dollar used to be about 6 or 7 rupees. It will also add some respect to rupee in terms of its purchasing power .. people may be able to buy a cup of tea or coffee for a rupee or two, instead of shelling out 10 or 20 rupees (as happens currently).
Amazing, Sevaji!

i think he was being sarcastic, but knowing him from his posts all these years it's hard to tell. he might have been totally serious. there is just no way to tell.

by Seva Lamberdar Wed Aug 28, 2013 12:42 pm

Marathadi-Saamiyaar wrote:
Seva Lamberdar wrote:
southindian wrote:
southindian wrote:I guess he's busy making moolah in rupee conversion, now that rupee is 66, still looking south.

Who says economy didn't do well under UPA2? His personal economy from $ to Re conversion surely showing a rising graph, while Onions strong with Rs 80/kg.
I apologize for giving yesterday's conversion rate of 66. It is Rs 68+ for a $ today.

UPA shining.
The quickest way to "strengthen" the rupee against foreign currencies is to release a "new" rupee in the place of current one and which has a value of 10 current rupees. This will bring back the good old days when one dollar used to be about 6 or 7 rupees. It will also add some respect to rupee in terms of its purchasing power .. people may be able to buy a cup of tea or coffee for a rupee or two, instead of shelling out 10 or 20 rupees (as happens currently).
But let us not forget that the salary also will be 10% of the current value and hecne will be paid less than what my grandfather received...

Of course.
Anyway, by introducing a new rupee (with the value of ten current ones) will add respectability to the rupee (the basic Indian monetary unit) in terms of its purchasing power. It will also re-introduce the use of coins (less than a rupee) which currently are out of circulation in banking and commerce etc. In addition, the introduction of new rupee will help in taking out huge amounts of black money which currently are unaccounted for and hoarded secretly by people. That could result in earning a lot of tax etc. for the Govt., which ultimately will be to the benefit of the country / people.

by Idéfix Wed Aug 28, 2013 10:15 pm

Marathadi-Saamiyaar wrote:Where is our Idefix and his economic analysis?

He was showing graph after graph to prove that UPA -1 , UPA-2, UP-infinity are all better than NDA, etc...

Now the FM himself has stated that he needed everyone's help to bring the economy back to 2005 level - meaning it is in worse shape.

So...what does he have to say? Or, any of those who supported his analyses?

I am right here... looks like you missed me even when I was away for just a day.

I compared the long-term performance of the UPA government to that of NDA and previous governments. I did so after one of the Modi supporters here thought I was unfairly picking on just Modi, and going easy on UPA by not analyzing their economic performance. The results of both analyses surprised me, as they clearly did to you NDA supporters.

The current slide of the rupee is certainly a problem, but it does not take away from the difference in performance between UPA and NDA. Chidambaram is being diplomatic in his efforts to find a political way out of the mess of UPA-2 coalition politics. His own coalition does not support pro-growth policies, and he seeks support outside for those measures. In a polity that is based on national interest, ideas, and principles, that would be a smart strategy. But in the zero-sum game of Indian politics, it will be interpreted in the manner you did.

by Idéfix Wed Aug 28, 2013 10:25 pm

Propagandhi711 wrote:More bar charts coming up to tell you it's raining and not the upa pissing on your head. Coming right up to critical acclaim to a thread near you.

No need for new charts... let us say (for argument's sake) these two statements are true:
a) rupee depreciation is a bad thing, and is an indicator of a government's economic performance, and
(b) the exchange rate averages Rs. 60 to a dollar this fiscal year

UPA is better than NDA on the score of rupee depreciation. I have shown this earlier as a CAGR, where smaller numbers indicate "good" outcomes:
Idefix/Merlot/Rashmun/Jebediah/MAXE Captur68

Idefix/Merlot/Rashmun/Jebediah/MAXE Captur68

If the rupee averages Rs. 65 to a dollar, not Rs. 60, UPA will still be marginally better than NDA at 3.5% CAGR in its two terms.

by Marathadi-Saamiyaar Wed Aug 28, 2013 10:51 pm

Idéfix wrote:
Marathadi-Saamiyaar wrote:Where is our Idefix and his economic analysis?

He was showing graph after graph to prove that UPA -1 , UPA-2, UP-infinity are all better than NDA, etc...

Now the FM himself has stated that he needed everyone's help to bring the economy back to 2005 level - meaning it is in worse shape.

So...what does he have to say? Or, any of those who supported his analyses?
I am right here... looks like you missed me even when I was away for just a day.

I compared the long-term performance of the UPA government to that of NDA and previous governments. I did so after one of the Modi supporters here thought I was unfairly picking on just Modi, and going easy on UPA by not analyzing their economic performance. The results of both analyses surprised me, as they clearly did to you NDA supporters.

The current slide of the rupee is certainly a problem, but it does not take away from the difference in performance between UPA and NDA. Chidambaram is being diplomatic in his efforts to find a political way out of the mess of UPA-2 coalition politics. His own coalition does not support pro-growth policies, and he seeks support outside for those measures. In a polity that is based on national interest, ideas, and principles, that would be a smart strategy. But in the zero-sum game of Indian politics, it will be interpreted in the manner you did.

No..no... you are away for just ONE day...and UPA Govt and economy are tanking...that is why I was worried. MT Sonia Mata ji needs your presence all the time.

Funny to see how you and Maulana are coming up with "interpretations" and attributing reasons behind PC's statement in parliament, when he himself was clearly begging and crying.

I am super impressed with your loyalty to MT Sonia Mata and the Dynasty.

by Idéfix Wed Aug 28, 2013 10:57 pm

Marathadi-Saamiyaar wrote:I am super impressed with your loyalty to MT Sonia Mata and the Dynasty.

You are confusing me for a mirror image of you. And you are wrong as usual.

by rawemotions Thu Aug 29, 2013 12:49 am

Idéfix wrote:
Propagandhi711 wrote:More bar charts coming up to tell you it's raining and not the upa pissing on your head. Coming right up to critical acclaim to a thread near you.
No need for new charts... let us say (for argument's sake) these two statements are true:
a) rupee depreciation is a bad thing, and is an indicator of a government's economic performance, and
(b) the exchange rate averages Rs. 60 to a dollar this fiscal year

UPA is better than NDA on the score of rupee depreciation. I have shown this earlier as a CAGR, where smaller numbers indicate "good" outcomes:

If the rupee averages Rs. 65 to a dollar, not Rs. 60, UPA will still be marginally better than NDA at 3.5% CAGR in its two finterms.tu

Why don't you give these charts to the CFO's who have had to borrow money abroad to the tune of 300 Billion $ in Debt from banks abroad and are now shitting in their pants having to pay back an additional interest burden of 20% just due to Rs Depreciation? They had to do these, because this government could not bring down the lending rates due to their loose monetary policies , high CAD and MNREGA kind of inflationary schemes.

This is what happens, when a party (Congress) wants to spend without worrying about current OR future revenue. OR this idiotic food security bill which wants to cover 60% of the population instead of focusing on the 30% who really need them, all to garner votes. Shameless folks! who are bereft of any long term thinking, and will do anything to be in power, even to the extent of ruining the economy.

by Marathadi-Saamiyaar Thu Aug 29, 2013 12:56 am

Re back to 66 /$. an increase 2.85 Rs in just 3 hours after opening the day.

That is scary and so speculative, the govt should investigate. But, not this govt.

by Merlot Daruwala Thu Aug 29, 2013 1:01 am

rawemotions wrote:
Why don't you give these charts to the CFO's who have had to borrow money abroad to the tune of 300 Billion $ in Debt from banks abroad? They had to do these, because this government could not bring down the lending rates due to their loose monetary policies , high CAD and MNREGA kind of inflationary schemes.

This is what happens, when party wants to spend without worrying about current OR future revenue. OR this idiotic food security bill which wants to cover 60% of the population instead of focusing on the 30% who really need them all to garner votes.

Rawmotions, you're angry and you're upset. Calm down for a second. Nobody is denying that the Rupee has fallen steeply or that this fall poses all kinds of difficulties to corporates with ECBs or foreign investors seeking an exit. Nobody is even trying to deny the UPA's inept management of the economy. But the numbers are what they are. And just because facts disprove some of your earlier statements, there is no reason to vent against the facts or the person who invested a lot of time to bring out the facts.

by rawemotions Mon Sep 02, 2013 1:44 pm

You either did not read my posts or have chosen to ignore them. He did not just, put out a chart, but made an incorrect conclusion that governments policies were effective, just based on those charts. I vehemently disagree with that. Ask the CFO's.

I had been saying all along that the problem with the falling rupee, is acute now, compared to previous incidents of falling rupee, is because of the ballooning of short term external debt. 100 Bn+ of short term external debt is due to expire. That has been my main point! It adds an additional pressure on the Rupee in 2014, which has to be countered by even higher exports. So you are creating a structural issue that causes Rupee to slide, not just something purely controlled by exports and imports. So to keep ignoring the policies that caused them in the first place is disingenuous.

The corporate's had to go abroad to buy debt, because internal debt interest rates are far higher. Why were the interest rates higher, because the RBI could not bring it down thanks to huge inflation, partly caused by the unfunded, bloated entitlement programs of Sonia led NAC. I am not saying this, Chidu himself has been pleading with RBI to reduce rates.

Now, there are a dozens of columnists disagreeing with that basic conclusion that economic management of UPA had been good, not just me. Go figure!

by Merlot Daruwala Mon Sep 02, 2013 2:19 pm

I can now see why you chose this very well suited handle. Anyway if you scan this thread, there is not a single place where Idefix or anybody has praised the economic management of the UPA regime. His contention is that the Rupee's depreciation during UPA - I and II has been less than that during prior regimes. If you see any flaw in that chart, please educate us.

As for the rest of your economic theorizing vis-a-vis currency, maybe you can also explain why Malaysian Ringgit has fallen 13% against the USD in the last six months despite having a current account SURPLUS.

Seems to me that in your haste to discredit the incumbent government, you chaddis are limpwristedly breastbeating about India's doom a little more hysterically than usual. Whatever the context, economic or political, the chaddi worldview is that they are the worst off - sorry victims of all kinds of malignant forces (usually Muslim or Muslim-loving), forever flopping around in self-pity.

by rawemotions Mon Sep 02, 2013 2:42 pm

Just to refresh your short term memory,
the chart was put out the first time not in this thread, but on another thread on economic analysis of UPA. He just reproduced it here. The disagreement was with his conclusion, that UPA's economic management had been good.

It looks you also agree, based on your statement above din an earlier post in this thread!
Nobody is even trying to deny the UPA's inept management of the economy.

Well, I rest my case w.r.to a debate on this with you.

As for the rest of your economic theorizing vis-a-vis currency, maybe you can also explain why Malaysian Ringgit has fallen 13% against the USD in the last six months despite having a current account SURPLUS.

>> You need to ask this question to the dozens of columnists who are also agreeing that US dollar strength tapering etc.. has contributory factors, but the FII's pulling out is ALSO because they see no hope in the government's handling of the economy or its knee jerk reactions, because the folks in government have no will to stop the spending Binge by UPA (Sonia led NAC and her coterie), without thinking of future consequences or planning for revenues to match it. It is not rocket science to overspend. Every one can do it, but if the party had done its homework properly, thought about long term sustainability of its social schemes in terms of revenues etc. that would have been good. For example, one simple amendment could have been made to reduce the coverage to BPL families from 60% planned now, if fiscal deficit targets are exceeded. Nothing like that was even done. MMS/Chidu have been silent spectators to Congress led UPA ruining the country's finances.

http://www.firstpost.com/economy/sonianomics-is-to-blame-for-rupee-sensex-crashes-1040365.html

It will take a miracle and a huge increase in Exports in some new area for India to bridge this deficit. The only possibility I see is manufacturing & Agri-processing, since other sectors in which India is strong (pharmaceuticals, Gem Polishing and IT) are hampered by Non-tariff barriers saturation & competition.

In each of these areas, India has to compete against China and Brazil respectively. Not an easy choice. China subsidizes Land, Labour, Capital, technology and Power, transport.

India is creating framework to increase cost of
acquiring Land (Land acq. bill),
acquiring capital (high interest rates)ran
Power (it is chronically power deficient)
transport (no major investment in ports or
internal transportation system)

Brazil has proximity to major markets, food storage chains, and a well established brand in agri processing.

I am sure the Chinese are laughing behind our backs. They now know that India will never be a serious economic competition to China.

Not an easy choice! Let us hope for such a miracle!

by rawemotions Tue Sep 03, 2013 9:02 am

Here is one more person attributing the falling Rupee rate, to internal factors.

http://economictimes.indiatimes.com/markets/forex/Adjustment-in-rupee-was-called-for-C-Rangarajan/articleshow/22255736.cms

Excerpts
"In some sense, the adjustment in the rupee was very much called for because our inflation rate was running so much higher than in the other countries," said Rangarajan, chairman of Prime Minister's Economic Advisory Council.

by Merlot Daruwala Tue Sep 03, 2013 10:25 pm

rawemotions wrote:Here is one more person attributing the falling Rupee rate, to internal factors.

http://economictimes.indiatimes.com/markets/forex/Adjustment-in-rupee-was-called-for-C-Rangarajan/articleshow/22255736.cms

Excerpts
"In some sense, the adjustment in the rupee was very much called for because our inflation rate was running so much higher than in the other countries," said Rangarajan, chairman of Prime Minister's Economic Advisory Council.

Haha..you're now running amuck with your cut-pastes. If this correction was very much called for, then why are you complaining so much?

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