Posted on 05/17/2004 12:43:43 PM PDT by .cnI redruM
(CNN) -- Investors in India are dumping shares on fears the country's new Congress-led government will slow or halt the economic reforms that have delivered 8 percent growth to the world's biggest democracy.
The country's biggest stock market, the Bombay Stock Exchange in Mumbai, closed down 11 percent in Monday trading.
That came after it fell almost 16 percent and was closed twice earlier in the day to try to stem the rout.
(Excerpt) Read more at cnn.com ...
Also, that's hundreds of millions of people who will come to Uncle Sugar Dady for handouts when their socialistic dreams predictably wind up where Ted Kennedy's mistress did. This could be a short to mid-term disaster for the rest of the world. The Left is entirely too stupid to be issued responsibility for large, emerging nations.
My feeling is that the reforms started by the previous government has gone too far along for the new one to anything but maybe pay some lip service to the their coalition partners.
I guess that is one way to stop the outsourcing of the software industry, scare the young educated business leaders to flee the country.
So much to outsourcing work to 3rd world countries...
Or, as in my case, not secretly at all! (Big grin!)
I don't. If India goes to heck in a hand basket, it only becomes a matter of time before Al-Quaida sets up major operations.
I think not. The Hindus are every bit as fond of the mo-slimes as I.
Same reaction in the US when Pres. Bush was elected.
Wednesday, November 3, 2004 (CNN) -- Investors in the United States are dumping shares on fears the country's new Kerry-led government will slow or halt the economic reforms that have delivered 5 % percent growth to the world's biggest economy.
The country's biggest stock market, the New York Stock Exchange, closed down 11 percent in Wednesday trading.
That came after it fell almost 16 percent and was closed twice earlier in the day to try to stem the rout.
[Excerpted - click for full article]
I see lots of cab drivers, 7-11 hosts, and motel mgrs. in their future.
They really are not thinking all that far ahead - it has been a herd mentality for the most part. A lot of this is "MBAitis." The outsourcers, the big consulting houses and key industry groups (eg Wall St.) are pushing to make this a core practice and corporate management in the broader economy , as always, grasps at the latest "trend." We will see what happens. I doubt that this business in Indian markets is a lasting trend and look for it to be back to where it was in a fortnight. Not much more than an overreaction if you ask me. If there is a real implosion in China, however, one with real, sustained and painful financial and internal political aftershocks then the practice will receive much more scrutiny. We shall see.
Sonia Gandhi will do the same thing to these pro-business reforms that Tony Blair did to Margaret Thatcher's reforms. Nothing.
Cum'on up outa the keys, they ARE here.
Or watch the communists Nationalize private industry. Nothing like having your assets taken away from you and told they aren't yours to pee on one's wheaties. Sounds oddly familiar "it isn't your business", "it isn't your job"... Hmm LOL
People sometimes ask me how I became conservative. What happened was I got married and set up house for the first time while Carter was president.
My first entry into life was accompanied by mortgage rates of 17%, superhigh unemployment rates (unable to find a job even at a grocery store), and finding a box of cereal cost 5 cents more every week I went to the store stayed with me. All of this while being told I was "selfish" and "materialistic", and the US should be ashamed. (Remember the "malaise" speech?)
It's a lesson that stayed with me. I look at superliberal Kerry, and if our personal safety wasn't so much at stake, I would say people need a good lesson of 4 years or so of the wonders of socialistic presidency to make them understand.
Instead of "Beans in the 'teens!", the futures traders will be screaming, "Bonds in the 'teens!".
That's a scary prospect.
Don't kid yourself the "third worlders" have just begun to come over here.
So are you ready to open an account or what?
As far as those idiots out there who cheer a poor India not being a center for outsourcing anymore, just remember that outsourcing will continue, if not to India than to China, the Phillipines, Costa Rica, etc.
I hope you are correct. I still have an aversion to anyone named "Gandhi."
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