The Bad, Ugly and Ugliest

No, this is not a script from a Hollywood film, although the title might give that impression. But there is some resemblance alright. The financial world has entered a new age of turbulence. The uncertainty and chaos is similar to the lawlessness of the Wild West depicted in early American movies. Unfortunately, there are not too many sharp-shooting sheriffs around to control the mayhem....

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  • Slow-motion Wreck

    Another weak rally before more weakness?

    Last fortnight, I had written that the market was breaking down. I had pointed out that “the market action last week was not just another downward move within a broad range.” The piece went on to suggest that “if, despite huge and simultaneous fiscal stimulus packages all over the world, low interest rates and low inflation, the index has made no...

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  • The Great Indian Economic Slowdown

    As I lay in bed wondering why my speed-post letter had not been delivered even after six days, my memory flashed back to the start of my career and my first air travel by the night air-mail service from Bombay (as Mumbai was then called) to Delhi. Those days, the night air-mail flew from the four metros – Delhi, Bombay, Calcutta and Madras – met at Nagpur, collected mail for the respective...

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