When everyone (who can) is printing money, what global economic forces are going to shape our future?

 

At a time when our ability to save is reducing on a daily basis, we need to ensure that we take all precautions to avoid any reduction in the worth of what we have already got. We live in a time when our economic future is going to be determined by larger economic forces, and this shift from taking risks to make money to ensuring money is not lost is the key to a safe and painless future. Understanding these forces is the first step towards gaining better control. This article tries to explain the nature of future to come.

 

Context of the article

 

Increasingly, we observe that during debates on financial matters, folks with technical knowledge of the subject matter are able to emphasize the superiority of their logic, even though it does not jive with the common sense interpretation of the world of the other party.

 

This is the first article in the series of 2 articles I am writing to try and explain, with my limited knowledge,

Article 1 (this one): How the nature of money is itself going to change in the coming days?

Article 2: How one can avoid obvious mistakes while planning one’s investments?

 

This is meant for folks who would like to understand but are not too keen to look at hardcore business news for the same.

 

In this article, we are examining how the policies of the rest of the world are impacting their currency and Indian rupee. In the next article, I will mention the implications these changes have on our personal investment approaches.

 

Recall a heist movie first

 

All of us have seen many heist movies where the hero (in reality the anti-hero) is keen on stealing the plates using which he can print money at will. The most recent examples have been Don 2 in Hindi and The A-Team in English where the plot revolved around the stolen plates.

 

In nearly all the plots, the main reason why someone was stealing these was either:

  • He/She was in need of money due to personal crisis/blackmail or
  • He/She simply wanted to live a peaceful life next to some beautiful beach and not have a worrisome bone in the body.

 

Once the plates were stolen, the basic idea was the same: PRINT YOUR WAY OUT OF THE PROBLEM AND LIVE HAPPILY EVER AFTER….

 

Now Assume It’s Not a Movie At All

 

Imagine that this is indeed what is happening, but not illegitimately! It is actually happening with gay abandon across the world! Let us look at various geographies that matter to India:

 

  • USA: The country entered into severe recession sometime in 2008 and then their government did something called “Quantitative Easing or QE”. It sounds important, but essentially what happened was that their central government said, “Look! I will release a lot of money into our internal financial system so that people can get easy loans and using that they can kisk start their business and the economy rebounds back!” Also, their government bailed out a lot of companies in their times of crises.

 

One year ago, I had documented their issues here.

 

US government did QE in 2 phases – QE 1 and QE 2. So in essence they tried to release limited amount of money in 2 different phases as per their assessment of the need to do so. Despite these, their situation did not improve completely!  Their jobs are not picking up and some industries show some sign of improvement but that does not last. So as a final resort, earlier they have announced QE 3. So how will this help if 1 and 2 did not help? Well it’s easy… This time they are releasing unlimited amount of money into the system for an indefinite period!

 

And where will they get with money from? Of course, they will print it silly!

 

 

  • Europe: If you have been reading bad financial news for a few years now, you would know Europe had been constantly featuring in it. What’s wrong with it? Well.. as it turns out plenty! One year ago, I had documented their issues here.

 

In essence, they have a problem and each time they try to solve it the problem becomes bigger. Their problems started because they had a common currency but different policies on governance across the Euro Zone. The real solution lies in tackling that problem of removing the difference in approaches of various countries. Instead, each time as a solution they release some money into the European financial system by the way of bail outs (which is like giving money to sick economies as grant) or by the way of bond buying programs (which is like lending money at extremely low interest rates to sick economies as help). As I said the problem only keeps bigger. Each time they do this for one country, some other country says, “Look here! I want the money too. I did not tell you earlier but I am too sick too!” And the gravy train keeps coming.

 

So what they are trying to do as their final solution to take care of their problems? Well it’s easy… This time they are lending unlimited amount of money to those who need in Europe at extremely low interest rates though a bond buying program! Unlike USA there is indeed a case in Europe to increase this supply of money to those who have been absolutely crippled by a long time of austerity, but this is still a wrong solution to the original problem of having a dysfunctional system!

 

And where will they get with money from? Of course, they will print it silly!

                                                                                                                        

 

  • China: For a long time now, China’s economy is slowing. Their manufacturing orders are slowing and they have built a lot many more homes than what people can buy. So their industry is struggling.

 

One year ago, I had documented some of their issues here.

 

Since China is a country that exports more than it imports, if the rest of the world is not doing well then it will face the biggest crunch in terms of inventory and finished goods lying in its warehouses. To help this situation, it is allowing its domestic small companies and individual citizens to borrow more and more money at lower and lower interest rates. They believe that when people get cheap money they will spend more and so their economy will avoid something called a hard landing (rapid slowdown in our terms!)

 

So in essence, this money they have decided to release more money into their system at lower interest rates.

 

And where will they get with money from? Of course, they will print it silly!

 

 

  • Brazil and Australia: When China coughs, Brazil and Australia catch severe cold. This is because most of the minerals that China imports for its manufacturing are imported from these 2 countries. Apart from revenue from mining, little is going strong in Brazil and Australia that can really support them. For e.g, in Brazil rest of the economy is made up more of agriculture and tourism and in Australia rest of the economy is made up more of tourism and sports!

 

So in essence, these 2 countries are also going to slow down a lot because of China. To help their situation, they are also doing what the rest of the world is doing! In Brazil, they have already decided to release more money in to the system by reducing bank interest rates to a record low and Australia may do the same in coming days.

 

And where will they get with money from? Of course, they will print it silly!

 

 

 

And where will they get with money from? Of course, they will print it silly!

 

 

Please note… In all the above cases, we are not talking about some petty thieves! These folks who are making decision are in charge of the financial health of their respective countries! All of them know something that we do not realize: that the health of global economy is not improving for some time to come and the only way to make more money is to print it!

 

The basic intention remains quite noble in all cases: print enough money so that those who need it can get it quite cheaply and then are able to do something worthwhile with it. And when they pay us back, all will be good! They are acting like those heroes who have to resort to desperate measures are desperate times!

 

Can anyone regulate human nature?

 

The basic premise of globalization is that anyone can invest in any part of the world freely and expect to get fair returns on the investment. That means that if there are right incentives, then people who get this money from government may not actually invest back in their own countries but will invest elsewhere to get more returns. It does not necessarily mean that everyone is hell bent on cheating but this statement is simply made to keep us aware that such a possibility exists.

 

So is that beach house even possible?

 

Not sure yet! Let’s investigate.

 

In my childhood, I used to wonder why the government cannot print more money and give for free to all to remove poverty. Now it turns out, I was not the only one to have that dream. Reserve Bank Governors from all over the world have the same dream and are printing their money to get out of bad times!

 

Will it succeed? To answer, let’s ask ourselves first:  if we make one lakh per month while our needs are met by forty thousand, then what do we do about the remaining money? I dare say, we start by thinking that we will save all of that but we lose that discipline over the coming days and the 1st habit we lose thereafter is the habit of bargaining! In other words, we are more prone to pay a little bit extra for each thing we buy simply because we can afford it. In other words, the utility of the same money in our wallet is lesser in our eyes as we know there’s more where this came from!

 

So if you and I change our behavior in times of cheap money, why will other countries and their citizens not do the same?

 

Before going further, let’s dive into how economics follow common sense.

 

Question 1: What drives price points in any economy? (In essence how things become expensive in such times of plush money)

Answer: If money is available more easily or if it exchanges hands more easily, then price levels in any economy are likely to increase. The only way to reduce those price levels will be make sure that people spend more and on buying stuff which will keep general prices low. Simply put, in times when money is easily available or when money exchanges hands very easily the only way to control price is to make sure people spend more and more frequently buying real goods which need to be made available more and more easily.

So as a bottom-line, till the times people continue to spend, inflation won’t jack up but when money is available easily but people don’t spend on buying real goods from real world then inflation will go up. Typically, this happens a few days/months/years after cheap money is made available when all the people have all the things they need and the only thing they invest anymore are on luxurious goods/value added services. Since all of us feel naturally satisfied after our needs are met, all of us naturally get into a situation where we don’t mind spending on irrelevant stuff and so prices increase.

BOTTOM-LINE 1: PRICES ARE GOING TO INCREASE IN THE WORLD IF UNLIMITED CHEAP MONEY IS MADE AVAILABLE FOR UNLIMITED TIME!

 

Question 2: What determines exchange rates between 2 currencies?

Answer: Each country has to transact with the external world. If a country borrows more from the world than what it produces (trade deficit), then has to spend more of its own money to pay for external obligations. So in essence, the value of its currency decreases. Similarly, if a country has higher inflation as compared another country, then the purchasing power of its currency reduces as compared to the other country and so the value of its currency decreases. Finally, if the interest rates in a country are higher than the lenders in that country will prefer to invest within the country itself as they will get higher return.

 

There are other factors too that determine exchange rates, but the bottom line remains the same that the value of a currency as compared to others will reduce if there is:

  • High inflation
  • Low interest rates
  • High trade deficit

 

I am sure we recognize where all this is leading us to.

BOTTOM-LINE 2: CHEAP MONEY IS BRINGING THE OUTSIDE WORLD TO A SITUATION WHERE THERE COULD BE HIGH INFLATION COMBINED WITH REDUCING INHERENET WORTH OF THE CURENCY THEY ARE PRINTING.

 

So what about that beach house?

 

I think we can all agree that if one can get such currency printing plates then temporarily one can get out of pains and can buy a beach house. But as time progresses, one will realize that the same money one is printing day in and day out will lose its worth and everything else will seem so damn expensive! Eventually, By The Time One’s Children Grow Up One Won’t Be Able To Afford The Same Lifestyle As The Printing Plates Will Be Nearly Worthless By Then!

 

This, in popular parlance, is called: ‘Kicking the can down the road!’ No wonder soccer/football is the most popular sport in most of these countries!

 

Hey Bhagwaan! What about India then?

 

A year ago, I had documented about our country, which was like a train wreck. Many of the factors I had mentioned in the initial part of that article still hold true to me. A discerning reader is asked to make his/her own judgment.

 

Despite all the chest thumping we do about how strong we are, we are not the most important economy in the world. We are still in our pre-teens as compared to the near mature growitth of many of our competitors. We are not the biggest investors within India itself, let alone the world. Strength of the manufacturing sector of any big country determines the inherent strength of that country. That is the ONE SECTOR that generates real wealth in the country. In India, manufacturing is a much smaller component of our economy (less than 20%) as compared to any other developed country (60% at least). On a side note, this is one reason I believe one should oppose FDI and should explore an alternate set of reforms that will help our economy.

 

Net-net, we don’t contribute enough back to the world to be compared a serious player. We retain the world’s interest as we have enough opportunities for them to explore.

 

From our own side, we continue to spend more and earn less. We have tried a temporary fix by earning money by selling some of our profitable government firms (divestment) and by making sure we don’t invest when the rest of the world can do so on our behalf (reforms), but as I said.. That’s temporary. Next year, with elections coming, we will again start our spending spree with social initiatives (like Nrega/Farmer Loan Waiver before the previous election) and that will mean that government will again spend much more and to boot, populate the marked with cheap money.

 

Recall what we discussed about prices some time back. When people suddenly get a lot of free money, and/or if the money exchanges hands really fast then prices rise if all that money is not spent immediately buying goods.

 

So what we are doing?

  • Government has initiated scheme for direct cash transfer: This is to contain corruption in subsidy schemes. The idea is good, but it is tackling the issue of corruption rather than solving the issue of subsidies. So net-net, we will have cheaper money available directly in hands

 

  • There is a chance that government will allow more welfare schemes for 2014 elections: This will mean that a speed with which money will exchange hands in economy will increase and the deficit in our finances, which is already high, will keep getting higher.

 

  • Instead of asking people to spend more, government is spending more on behalf of people. This is not only reducing the productivity of our labor, but is also increasing the wages in rural India. That means we are already destroying our ability to profitability produce quality goods and services in the future.

 

 

That can lead to nowhere else but I one direction.

BOTTOM-LINE 3: INFLATION IN INDIA IS NOT COMING DOWN ANY TIME SOON!

 

So is all doom and gloom! No, there are a few Indians who are genuinely gurarding us against total disaster that can come out of our policies.

 

Hail Subbu – The Governor of RBI

 

Recall how a few minutes ago we realized that when inflation is high and the government finances are bad then the currency of the country loses its flavor. Well those 2 are happening in India. But there is one superman trying to save us. He is none other than Dr Duvvuri Subbarao, the Reserve Bank of India (RBI) Governor. Subbu has refused to release cheap money into the country’s economy by reduction of something called Repo Rate. It is the rate at which banks borrow from RBI and so if they get money cheaply then they will lend cheaply and so the country will be awash with cheap money.

 

This has 2 advantages:

  • Controlling of exchange rates: If rates were reduced, our Rupee would have fallen further as compared to other currencies and so all our imports (which are more than exports) would have become that much more expensive. Our domestic manufacturers would have been killed more by that loss than saved by gaining in low rate finance.

 

  • Prevent Misuse of Cheap Money: People with money know that won’t invest in India because there’s simply too much hassle. So if they had got money from government at low rates they would have been more interested to invest outside India, thereby making a complete mockery of the government’s intentions.

 

So where does this lead to?

 

BOTTOM-LINE 4: THOUGH INDIAN RUPEE HAS LOST A LOT OF VALUE IT WOULD HAVE INVARIABLY LOST MUCH MORE OF ITS VALUE AS COMPARED TO THE WORLD IF NOT FROM THE SOUND POLICY OF OUR RBI AND ABSOLUTELY POOR CONDITIONS OF THE REST OF THE WORLD (DESCRIBED ABOVE IN THE ARTICLE). FOR NOW, WHETHER IT LOSES ANY MORE VALUE WILL DEPEND ON WHETHER OUR RBI GOVERNOR REDUCES ANY RATES AND WHETHER THE SITUATION IN THE REST OF THE WORLD IMPROVES.

 

So what are the forces we have learnt about?

 

From the above logic, it is evident that in the coming days we are going to see:

a)      Cheap money in the rest of the world,

b)      The currencies of the rest of the world are sure to lose their value

c)      A period of high inflation in India,

d)      Whether Indian rupee will gain as compared to others will depend on how better we can control our finances (very low chance) and how long can we prevent interest rates from going down (Hail Subbu for this!).

 

ABOVE FACTORS HAVE OBVIOUS IMPLICATIONS ON HOW THESE POINTS IMPACT THE VALUE OF RUPEE WE HAVE IN OUR WALLET, THE VALUE OF WHAT WE HAVE IN OUR BANKS, HOW WE SHOULD PLAN TO INVEST IN STOCKS, HOW WE SHOULD PLAN TO INVEST IN METALS AND HOW WE SHOULD ENSURE WE DON’T LOST AT ANY COST.

 

WE WILL COVER THAT IN THE NEXT ARTICLE.

 

<<An earlier version of the article was published with a lot of typos. Those have been corrected by me to the extent possible>>

  • http://www.newhampshireherald.com john reuter

    you want to look at the 50 year trend in the volocity of money. I do not know about India but in America it is at a 50 year low.

    • Anshul Mishra

      Hi John,

      I understand what you are saying and that’s the tragedy in the whole mess. When additional tranches of money are released by government, that should impact the small businessmen/individual borrowers the earliest. However, our financial systems are so coupled that when someone releases some money in one part of the world, they make use of better opportunities in another part of the world. No wonder a lot of folks like you in US are not able to relate to the decisions being taken at the top (based on your FB messages :))

      I will try and explain this idea a bit more in the 2nd article. This lack of velocity in times of surplus money is one major factor for all of us, irrespective of where we are from.
      Anshul

  • http://www.indiaeducationguidance.com vicky

    Dear Anshul ji

    your site is doing very well. See alexa rank of your website it’s increasing very rapidly.

    Put advertisements on your site. Try to earn some money from your website through advertiser network like bidvertiser, infolinks,chitika, indian ad networks etc
    You can easily get approval from any adnetworks.

    From
    http://www.indiaeducationguidance.com
    http://www.maxnewinfo.blogspot.in

    • Anshul Mishra

      Hi Vicky,

      Thanks a ton mate! I never thought about this point earlier. I am happy that quite a few folks have become interested, but I want to sustain that traffic more than anything as of now. I will check with you separately about this.

      Anshul

      • http://www.indiaeducationguidance.com vicky

        waiting for your mail

  • http://www.indiaeducationguidance.com vicky

    hi

    • Anshul Mishra

      hi Vicky. Sorry, the comments come to me for approval before they are displayed and so your comments last night did not show up immediately. I hope its fine.
      Anshul

  • http://www.hapahap.com Nakul Chauhan

    Hi anshul ji.
    Nice to meeting u again and This is a very fentastic article. I receive good knowledge from it.
    And today i have some questen (1)HOW MUCH MONY INDIA HAVE? IS DIS CALCULATED?

    (2) IN OUR COUNTRY MONY = GOLD, IS THIS RIGHT?

    I m waiting for intersting reply.
    Thanks.

    • Anshul Mishra

      Hi Nakul,
      Wealth generating capacity of the country can be calculated in terms of how much it produces each year, called the GDP.

      And no, money is not gold in India. In my article, by money i mean the regular cash and other assets that can be easily converted to cash in times of need (incl. gold).

      I am not sure if this is what you asked. Pls let m know if you needed anything else.
      Anshul

  • Jitendra jadeja

    dear sir, thank you for such a nice article which shows us the true value of money in the future. . you have recognised almost all the factors that are important.. i live in the small village of gujarat and i have myself experienced the increasing wage rates in rural areas.
    thank you sir
    best regards
    jitendra jadej

    • Anshul Mishra

      Hi Jitendra,

      Thanks a ton for the very kind words. I am happy that you liked what i said as I wrote these in the comfort of my drawing room where as you have experienced it in your own work life. It gives me the confidence that my thoughts are relevant and that encourages me.

      Regards
      Anshul

  • http://www.techgoss.com Hitesh Shetty

    Hi Anshul,

    This is Hitesh Shetty from Techgoss ( http://www.techgoss.com), a leading tech magazine portal in Australia. I recently stumbled about a news about you making it to the hot seat of India’s popular Quiz show KBC hosted by Amitabh Bachchan and winning 3.2 lakhs.

    We are interested in covering the story .I just wanted to interview you for Techgoss .We conduct Email interviews only .Looking forward to your reply. Please reply in my mail address. Sorry for sending you the interview proposal out here, Since i could not find any other way to contact you. I could not even trace your FB profile. Nevertheless, I would be priveleged to interview you for Techgoss.

    Regards

    • Anshul Mishra

      Hi Hitesh,

      Thanks a ton for your comment. I will email you shortly.

      I am not sure as to why you were not able to find me on FB. My FB ID is: http://www.facebook.com/hapahap

      Anshul

  • http://in.dividendinvestor.com/ best dividend stocks in india

    Hi Anshul,

    Nice article. I see your KBC episode. your site is really very interesting and all the articles are awesome. I am a dividend investor. so I would like to request you that please visit my site as soon as possible or I like to request you that please right something about dividend also.

    Thanks & Regards

    Richard

    • Anshul Mishra

      Dear Richard,

      Thanks a ton for the kind words and for visiting my site. It is always nice to meet a fellow value investor.

      I have visted your site and it is very interesting in terms of the data you publish. I am no expert but to me dividend investing is a type of value investing and I am happy you consider me to be worthy of publishing an opinion. Pls let me know if there is anything you wanted me to write on in particular.

      Regards and best of luck
      Anshul

  • JG Mandavia

    Today, I was watching KBC (recorded) and saw you (Anshul Mishra) on this programme. During the conversation with Shri A.B., you mentioned about your website – so I thought I will try to log onto it and see what it contains. I found it quite interesting and congratulations on winning Rs. 320k.

    JG Mandavia (London, UK), 3rd October 2012

    • Anshul Mishra

      Dear Mr. Mandavia,

      Thank you for your kind wishes and for visiting my website.

      Anshul

  • Sargam

    Hie Anshulji,
    m watching repeat telecast of KBC..in it u mentioned ur website,i visit itz interesting..N CONGRATS 4 KBC..:-)

    • Anshul Mishra

      Hi Sargam,

      Thanks a ton for the kind wishes and for visiting my website.
      Anshul

  • ajaykumar yadav

    Hi,
    Sir my English is not to good but I m trying to write u I saw your episode of kbc I liked your thought I also want to do something for those people who really unknown about the government’s project which are announced for poor people and my aim is to provide them better food hospital facilities at village of india and many more so I hope u like my job what I want to do . Congratulation for winning .
    My mobile no. Is xxxxxxx.
    Thank you.
    Good bye.

    • Anshul Mishra

      Dear Ajaykumar ji,

      Thank you for your kind wishes and for visiting my site. I must say that your thoughts and your aspirations are very noble and I wish you all the best for your work. I must add that our country needs more folks like you and I hope like you I am able to create a difference in the lives in rural India. If you believe I can be of some assistance, pls let me know.

      I am deleting your mobile # from the message before approving it as it is not secure to mention it openly on the net. I hope you don’t mind this

      Regards
      Anshul

  • http://Www.remo.com Ram kumar chhetri

    Hai ansul aakir maine aap ko dhund nikala aap wohi ho na jo hot seat par bthe the big b k sath kbc mein

    • Anshul Mishra

      Hi Ram,

      🙂 Yes it was me.

      Anshul

      • http://Www.remo.com Ram kumar chhetri

        Ansul aapne kbc pe kitna rupya jeeta aur waha se sab paisa milta hai sachmuch main.and how can i partcipte in kbc?

        • Anshul Mishra

          Hi Ram,

          Sorry, but I cannot comment on the workings of KBC team! All we need to know to participate is in the public domain.

          Anshul

  • saurabh beniwal

    Anshul,

    I really like your blogs towards economic trend and culture.

    • Anshul Mishra

      Dear Saurabh,

      Thanks a ton for the encouraging words! 🙂

      Hoping that you will keep revisiting
      Anshul

  • http://sathindia.org Rohit Sorthiya

    my name is Rohit Sorthiya And my Work is Computer Education Institute
    Your Introduction is Kon Banega Karod Pati is Amitabh Bachan

    By

    Rohit Sorthiya

    • Anshul Mishra

      Hi Rohit,

      Nice to meet you. Thanks for visiting my site!

      Anshul

  • http://www.hapahap.com Nakul Chauhan

    Hello Anshul ji
    Nice to meet u again n again. today i have qst that
    Can we control on prise of Gold? Or it can reduses? how?

    I want to just know about it. I dont know acttuly wich factors are work behind it? may be inflation. but comparison to other things gold prise growth vety repidly. so m wating for yr smart rep.
    Thank you.
    Nakul.

  • http://www.thenewsdeck.com/category/media/ Felton Posadas

    Solid

  • http://www.hapahap.com Nakul Chauhan

    Dear Anshul ji.
    Nice to meet u again and again. Today i have Qst that
    Can we stop d increasing price of gold? and Can govt reduces d prise of gold?

    I dont know actully reson for dat bcoz i have very nerrow knowledge. i Think it can be happen due to inflation but inflation is affacted whole d market not only gold. And i also knew dat stock market and gold price have inverse relationship means when stock market increases, price of gold are reduces. So pls tell me Which factor are liable for increase in gold price? and also give some information about reduce it.
    Waiting for fair rep.
    Thank you
    Nakul.

    • Anshul Mishra

      Hi Nakul,

      The 2nd part of the article that you’ve commented on deals with this but unfortunately i have not been able to complete it because of deliverables on my day job. If its ok, I plan to complete that by this weekend and I should be able to express my point of view then. I hope you will let me know on the feedback on the same.

      Anshul

  • SWAGATAM

    THANK U FOR SUCH A NICE BLOG.I LEARN MUCH BETTER FROM UR SITE THAN I KNEW ABOUT THE ECONOMY.

    • Anshul Mishra

      Thank you for the encouragement Swagatam jee.

  • SWAGATAM

    RESPECTED SIR I SAW UR KBC EPISODE.AND APPRECIATE UR NICE STRATEGY.SIR I HAVE COME OF A VERY POOR FAMILY.ONCE UPON A TIME I DID HAWKERING FROM ONE VILLAGE TO ANOTHER.WITH GREAT DIFFICULTIES I HAVE COMPLETED MY B.TECH ELECTRONICS(2012) FROM UNIV. OF KALAYANI,WEST BENGAL,INDIA WITH 79.11%.BUT ALASS NO CAMPUSSING OCCURRED.BUT FORTUNATELY ALSO SELECTED FOR INFOSYS 2012 OFF CAMPUSS.SIR IF U GIVE YOUR KIND REF IT WILL BE GREAT PLEASURE FOR ME AND MU SUFFOCATING FAMILY SIR.MY MAIL ID IS skundu012@gmail.com.PLS HELP SIR!PLS ….SITUATION IS GOING VERY BAD SIR.

    • Anshul Mishra

      Hi Swagatam,

      I am sorry but I will not be able to help you on this. I exercise no influence over the recruitment function. If you have the necessary qualifications, you will be selected. I wish you all the best.

      Anshul

      • SWAGATAM

        QUALIFICATION IS NOT ENOUGH TO JUDGE THE QUALITY….CORRECT SENTIMENT IS ALSO NECESSARY FOR JUDGMENT AND A GOOD PLATFORM ALSO!!!!
        “To obtain an assured favorable response from people, it is better to offer them something for their stomachs instead of their brains.” -Albert Einstein

      • SWAGATAM

        THANK U FOR UR BEST WISHES..HAPPY DUSSHERA SIR..

  • ajinkya

    hii anshul,
    your blogs are super awesome. your writing style is very nice. Also, please do write something which explains that why rupee is falling against dollar so much now. What really went wrong in india in the past 2 years ?? All the best for your future.
    thanks

    • Anshul Mishra

      Hi Ajinkya,

      Thank you for the encouragement. The 2nd part of the article that you’ve commented on deals with this but unfortunately i have not been able to complete it because of deliverables on my day job. If its ok, I plan to complete that by this weekend and I should be able to express my point of view then. I hope you will let me know on the feedback on the same.

      Anshul

      • ajinkya

        thanks for you reply. i have one more suggestion. please wrie a blog explaining GAAR rules also..

        • Anshul Mishra

          Hi Ajinkya,

          I was pretty busy with my day job lately and so could not reply earlier. I am sorry about that.

          I have recently complied an article on the best practices one can follow today for personal savings. That was as demanded by someone other folks. If its ok, I can write on GAAR a bit later. However, i will need some study at my end too as I do not have enough confidence on the matter yet!

          Anshul

  • Pingback: HAPAHAP For A Few Rupees More: Planning Good & Avoiding Bad/Ugly Investment Decisions

  • Parijat Avasthi

    Dear Anshul,

    A real nice article on global economic trends and it’s impact on India’s economy.

    Wanted to understand how the value of any currency is determined. I understand that in United States, till the time they followed Gold Standards, value of dollar was equivalent to the certain qty of gold available in reserves. Does Indian Rupee also follows any similar standard or is it completely dependent on the dollar value?? Are all currencies value in the world dependent on dollar?

    Must say KBC really boosted the hits. In fact I also got to know from there only.

    Keep the nice work!!