LET US MAKE INDIA, the Global Leader. If you agree, you are requested to be unbiased when you read my views, and share your comments without targeting any one.
CAN THE FINANCIAL CRISIS BE AVOIDED?
Sir William Rhodes, an Industry veteran with over 7 decades of Global Economic experience, details about RECESSION in his book "BANKER TO THE WORLD".
Market Expertise across the globe can never stop the economic recession.... Why?
An interesting reasoning WR spells out is that " every country and markets believe that they are DIFFERENT & infact they are not well connected to the rest of the world's economy... (Indian Government has taken hard steps in re-building relationships with other countries in the last 2 years, to ensue we are well connected with the world).
Some facts to show Countries are not well connect to avoid repeat of RECESSION;
* Repeated Debt Crisis of Latin America 1982
* Similar crisis can be seen repeatedly in other economies, like Europe
* Asia Crisis of 1998 & DotCom bubble in 2000
* Global Financial Crisis - 2008
EFFECT ON INDIA ;
2nd largest populated country has been both the "observer and recipient" of "good and bad".
It is important to note here that " Common Citizen & Agriculturists" have always been the most affected, while "RECESSION" being an excuse for Governments..
INTERNAL CRISIS:
India being an EXPRESSION with 29 countries within, has been facing INTERNAL CRISIS at all levels since independence...otherwise external crisis might not have affected us so deeply..
CORRUPTION as cancer is eating away the legitimate wealth of COMMON CITIZEN & AGRICULTURISTS - question is BY WHOM?
LET US MAKE INDIA a single NATION than conglomerate of 29 countries.
How? CURRENCY is one National Instrument plays major role in the economy of each state and collectively the country...
If we agree to the above, DEMONETIZATION is the only way to weed out the black money & corruption from the grass route level.
I wish to share my views as follows:
* Hidden Cash brought back into financial system
* Corrupt minds are provoked to find out ways & getting caught
* Restrictions on buying power of Individuals to make sure highest level of liquidity in the Banking System
* Forced conversion of old currency to new ones & forced bank deposits to curtail unwanted spend but ensuring liquidity for coming days
* Why November for note-ban? I see Government is working across Social & Industrial sectors and period of 4-5 months to bring in changes in Policies, Rules & Regulations simultaneously with ground level results & learning to implement them in right manner
We always afford & sustain the crisis due to Global RECESSION & law and order situations...we must also afford & accept temporary crisis to bring in FINANCIAL DISCIPLINE in the country.
Time & Commitment are the answers to the question "CAN DEMONETIZATION" weed out black money by 100% from the National Monetary system...
Sir William also says ;
One of the things that is clear in all of the crises is that strong leadership is crucial,” he says. “To take some international examples, such as Brazil in 1994, South Korea in 1998 and Turkey in 2001, the heads of state and finance ministers sold their programmes to their citizens saying that while these included tough measures, they were well planned and would lead to growth – and they did. This kind of leadership is even missing in Europe......
It is evident that we have such Strong Leadership today in our Country and we must support hard measures taken in the interest of our own NATION.
JAI HIND..
G Nagaraj
Group CEO & Founder
SME OneSource Group
CAN THE FINANCIAL CRISIS BE AVOIDED?
Sir William Rhodes, an Industry veteran with over 7 decades of Global Economic experience, details about RECESSION in his book "BANKER TO THE WORLD".
Market Expertise across the globe can never stop the economic recession.... Why?
An interesting reasoning WR spells out is that " every country and markets believe that they are DIFFERENT & infact they are not well connected to the rest of the world's economy... (Indian Government has taken hard steps in re-building relationships with other countries in the last 2 years, to ensue we are well connected with the world).
Some facts to show Countries are not well connect to avoid repeat of RECESSION;
* Repeated Debt Crisis of Latin America 1982
* Similar crisis can be seen repeatedly in other economies, like Europe
* Asia Crisis of 1998 & DotCom bubble in 2000
* Global Financial Crisis - 2008
EFFECT ON INDIA ;
2nd largest populated country has been both the "observer and recipient" of "good and bad".
It is important to note here that " Common Citizen & Agriculturists" have always been the most affected, while "RECESSION" being an excuse for Governments..
INTERNAL CRISIS:
India being an EXPRESSION with 29 countries within, has been facing INTERNAL CRISIS at all levels since independence...otherwise external crisis might not have affected us so deeply..
CORRUPTION as cancer is eating away the legitimate wealth of COMMON CITIZEN & AGRICULTURISTS - question is BY WHOM?
LET US MAKE INDIA a single NATION than conglomerate of 29 countries.
How? CURRENCY is one National Instrument plays major role in the economy of each state and collectively the country...
If we agree to the above, DEMONETIZATION is the only way to weed out the black money & corruption from the grass route level.
I wish to share my views as follows:
* Hidden Cash brought back into financial system
* Corrupt minds are provoked to find out ways & getting caught
* Restrictions on buying power of Individuals to make sure highest level of liquidity in the Banking System
* Forced conversion of old currency to new ones & forced bank deposits to curtail unwanted spend but ensuring liquidity for coming days
* Why November for note-ban? I see Government is working across Social & Industrial sectors and period of 4-5 months to bring in changes in Policies, Rules & Regulations simultaneously with ground level results & learning to implement them in right manner
We always afford & sustain the crisis due to Global RECESSION & law and order situations...we must also afford & accept temporary crisis to bring in FINANCIAL DISCIPLINE in the country.
Time & Commitment are the answers to the question "CAN DEMONETIZATION" weed out black money by 100% from the National Monetary system...
Sir William also says ;
One of the things that is clear in all of the crises is that strong leadership is crucial,” he says. “To take some international examples, such as Brazil in 1994, South Korea in 1998 and Turkey in 2001, the heads of state and finance ministers sold their programmes to their citizens saying that while these included tough measures, they were well planned and would lead to growth – and they did. This kind of leadership is even missing in Europe......
It is evident that we have such Strong Leadership today in our Country and we must support hard measures taken in the interest of our own NATION.
JAI HIND..
G Nagaraj
Group CEO & Founder
SME OneSource Group
