Beyond Capital

Polemics, Critique and Analysis

Archive for April 21st, 2007

Economic Astrology

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The Economic Times has a news today – IMF warns India of US economic slowdown. Something to be panicked about! However there is nothing in the report that is specifically directed to India. The IMF Deputy Director Charles Collyn has warned that

“emerging economies, including India, face the risk of protectionist pressures arising from a slowdown in the US economy. IMF deputy director Charles Collyns said capital flows to emerging markets have been strong even as corrections in these markets are getting smaller.”

However,

“In its short-term outlook, the IMF has said notwithstanding recent volatility and the US slowdown, continued robust global growth still looks the most likely outcome. However, global policy makers and financial markets need to be ready for surprises.

This is the way astrologers cheat their clients – say things which are so general and obvious, even commonsensical idiocies and contradictory, that whatever happens, you are proven right and your business thrives. If some spices are still lacking then get mainstream newspapers to write the headings…

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Written by Pratyush Chandra

April 21, 2007 at 12:02 am

Posted in Economy, India

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