Tag: Demonetization

June 15, 2017 /

Results are in on Demonetisation … India is being ruled by AN INCOMPETENT PRIME MINISTER… He has ruined the Indian economy with a stupid, ill-considered move. An overweening belief in himself, to the exclusion of advice from even a close set of real economic/financial experts, is undoubtedly the biggest cause of this debacle. If Modi had even consulted those with some economic/financial knowledge in his own party, he would have realized that demonetization is a blatantly STUPID move.

Read the PostHow Modi Ruined Rural India with #Demonetization

December 6, 2016 /

Business down by 50%. Only 3 out of 18 ATMs working.
If this is the state of things in a busy shopping area in Bengaluru, one of the biggest cities in India, and an IT hub to boot, just imagine the state of things in a rural area where most people do not have bank accounts and where internet penetration is very poor.
The worst is yet to come.

Read the PostDemonetization on Payday: A Photo Essay

November 22, 2016 /

“More than black-money, demonetization appears to step one, for chasing the goals of enriching the rich and impoverishing the poor further. MODItization is already beginning to inflict terrible misery to India’s economic and social fabric. Its counter has to emerge from the very people, who have been scripted out for a terrible fate.”

Read the PostDemonetization or MODItization of the economy

November 18, 2016 /

We are a country of melodrama, fantastic mythology, grandiose narratives – this is the common thread that binds us all, for better or for worse. We thrive and revel in conflating relatively minor matters into something important and meaningful, and have a disdain for things that are not dramatic, grand or aspirational, even if critically important.

Read the PostClueless about Cashless

November 17, 2016 /

Demonetisation has placed disproportionate stress on exactly those who are least likely to be source of the problems the move aims to tackle. The ones least likely to hold black money, be involved in financing terrorists or printing fake currency are the hardest hit. Being part of an entirely cash-based economy, the poor are finding the hand-to-mouth cycle abruptly broken. A few hours spent in a bank’s queue may be a minor inconvenience and a patriotic service to the nation to the relatively well-off; to the construction worker, it amounts to a meal unearned, foregone.

Read the PostRobbing Hood Economics of Demonetisation