Yahoo reports that Japanese inflation has risen the quickest in a decade here. Chuck butler from dailyreckoning says that although the Reserve Bank of India's (RBI) CRR tightening up is a good move, it has come quite late in the day.
The Reserve Bank of India (RBI) raised interest rates 50 BPS last night, and the RBI Governor issued a statement that said he believed capital inflow into India had remained strong. The Big Brokers, Goldman and JP Morgan don't believe this rate hike will help a sliding rupee (INR)… I tend to disagree (you knew I would!) with them. Yes, India's current account deficit is higher than I would like to see a country's deficit, but, if traders swept New Zealand's huge deficit under a rug because of their huge rate differential, then they could also do it for India.
I guess we'll have to wait-n-see… But, kudos to the RBI for raising rates aggressively. Unfortunately… I'm still mad as hell and won't take it anymore about the RBI's intervention months ago to stem the rise in the rupee. Goofballs! If they had allowed the rupee to continue to gain, it would have done some of the inflation fighting for them! But, as usual, central bankers just can't leave a good thing alone!
Read his full article
here. He also says that if the RBI hadn't intervened in the money market to prop up the dollar whenever it fell, it should have done the job of fighting
inflation for India. But then how would we have impressed our US masters? How would we have impressed our exporter lobby and our software "industries"? For an analysis by
Mike Moffatt on how we import inflation by keeping exchange rate controlled (say, by propping up the dollar against the rupee), read this
article (actually the article is an reverse analysis, he goes from inflation to exchange rate, we will have to go reverse). The monetary and fiscal policies of the Indian governemnt has been ruinous and will take a heavy toll on the common man in the coming days. It is also expected that the oil prices aren't going to ease any sooner (for the reasons, see
Jim Cramer talk on this
video). Are we on the brink of an economic disaster?
Close
Christianism
The new Christianism has created a hostile environment for economical, regional and political matters on this flat world. The raging temperature of whitish nature is causing an uncomfortable degree of greediness for energy and power. The depressed world view is based on pessimism about war, world economy, food and fuel price are getting worse for developing nations. The big picture of global economy should be based on most populated countries and regions not Christianism. On the other side the soaring prices are not matters for Americans and European countries due to wealthiest people of earth. The main beneficiary of the foolish holy crusade is economy for G 8 and some European countries. The major loss of development will occur in Asia, South Asia, Mid East and African nations. It used to be said, That never talk about religion, race, politics and culture differences it is only for the whitish nature of Christianism to use it as an weapon to make fool of colorful humanity. It is time to ask real question that how human beings come to know about whitish politics. Religion, race, politics and culture differences are playing an important role by exploiting Justice, freedom and human rights all over the world. It is true that religious and political matters are deeply connected and human nature is handicap in order to keep them away from each other. Religious is politics and politics is religious it has been throughout Christian history only human faith members believe that religious should stay in Kasa means (Holy place for human faith religious) and should be separate from politics. In Ancient, Medieval and Modern cultures we can see the political ruler was also religious leader or used religious for politics or considered Divine. In whitish circle only American history was based on keeping Church away from State just about eight years ago. Knowledge is the only source toward establishing a basic philosophy of humanfealty.We would like to request from all these Dictators, Kings, Monarchies, Army Chiefs, Organizations, Government officials, Presidents, Vice Presidents, and Religious leaders to adopt new philosophy of humanity and come out from the prison camp of Christianism . Human faith method of teaching moral values and humanity can give realistic purpose of achieving complete fulfillment of internal life. The spiritual change from loneness to loveliness is based on love by giving unlimited trust in God (Rab). Human mind is miracle of Supreme Being when we struggle to boil it at luck warm temperature of wisdom to understand fundamental of life by reading (Rabi). The ever lasting stage of satisfaction for mind is to reach Supreme Being before death. The journey of memories can be pleasant with nine affirmations of human faith. We believe that it is time to joggle every conscious to show them that human mind is superior matter not material. The festival of life can be celebrated with wisdom of human faith knowledge once we realize that we all are part of the superior race. It advocates spiritual and moral principles on very high scales for the longest term in human history. Human faith is Adam's monotheistic faith and knows that God is the creator and overseer of the universe at all the time and all matters. It is time to modernize our faith by adopting true faith and educate mankind in accordance with basic principle of life. Our vision is to introduce true human religion by mobilizing communities and faiths around the world to improve people's lives .Our mission is to strength the bond of humanity (Rabi) by introducing human faith religion.
IN GOD (Rib) WE TRUST WE HAVE FAITH IN HUMANITY (Rabi).
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