So I would like to believe after reading this morning’s headlines. It took only two “historic” days to make the recession disappear.
The victory of Congress on Saturday and monday morning the Indian Economy is rocking.
Everything is linked to stock market and how it performed!! It sure has raised optimism of people to a new high.
To quote a few headlines:
Sensex Gives Manmohan a 21-ton Salute – Soars 2,111 points, sharpest One-Day rise ever by any index in the world.
Will help India Inc raise capital, fund projects
India Inc to loosen purse strings for infra projects
Rupee, bonds surge riding mkt euphoria
A minute makes India world’s best market
I better sharpen my brains because hey… there is going to be demand for my expertise all over again! After all when everybody is on a high and making money… I, the pragmatist guy, who believes in working hard and smart.. can also make some!
Today’s headlines remind me of the way things were a year and half back… Market was going up, up and up… people were spending money like nobody’s business and it seemed that India Inc was going to be the darling of the world and the whole momentum of the world economy was going to shift to India.
And then the American Economy collapsed and helped us awaken to a rude realization… The sun still shines out of US’ a** (By the way… I am a conspiracy theorist who believes that like in the movie “Wag the Dog”, the whole recession in US was a manufactured one to ease the “Change” for Democrats…. You do need an issue to fight on.. dont you?
And let anyone deny this.. because India Inc has been crying itself hoarse that they have been hit badly by what happened in the US..
Wonder if any Newspaper can juxtapose the kind of headlines that were happening when stock market had touched 21K?
The headlines wont be very dissimilar in their tone and manner…
We as a culture have started looking at even financial transactions to give us instant gratification!
Investors make Rs 3.6 lakh cr in a min … hell I dont even know how many zeros in that… And did they really make this money? as in money in their pocket??? Of course not.. if they did… then there would have been a run on the BSE!
While I dont want to be party pooper or prophet of doom, I do believe certain pragmatism is required.
We all have learnt some very hard lessons in past year and half and lets not forget them by what happened in min yesterday.
And lets not also forget that this government has to prove that it can provide stability… Watched the news last night… already the politics has begun (Congress does not want Montek as FM…. they want a politician! hell why politcian? how can his credentials match up to Montek’s?)
I will wait till the budget to see what reforms will this government provide (now that they cant blame their partners for holding them back).
I want to see if we are really independent of what happens in US
I want to see if the India Inc would really put money where their mouth is and walk the talk (its very easy to get in the newspaper by making relevant noises… after all our attention span is not what it used to be and we would soon forget who said what)
I AM NOT GOING TO GET FOOLED BY BELIEVING THAT STOCK MARKET REFLECTS THE ECONOMY.
I AM NOT GOING TO GET FOOLED BY ALL THE HAPPY HEADLINES THAT HAPPEN IN THE NEWSPAPERS.
I AM NOT GOING TO BE AN OPTIMIST. I WILL HAVE PLANS ABOUT FUTURE BUT THEY WILL BE TEMPERED BY PRAGMATISM
I AM THE COMMON MAN ON THE STREET WHO IS WATCHING EVERYTHING…. HAVE BEEN BURNT ONCE… NOT AGAIN!