Archive for July 25th, 2016

A ‘secret’ underground passage in Mumbai between CST and Indian central bank…

July 25, 2016

Well, well, well. This is an interesting bit of history:

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Human Face of Banking – slowly getting killed..

July 25, 2016

Adfer Rashid Shah of New Delhi has sent a comment to EPW. It is likely to be ignored by most but is worthy of a discussion.

He ponders over how banking is just becoming faceless:

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Continuous hype over upcoming fears is fostering crises (why having less economists talk will help here..)

July 25, 2016

Thomas Fricke says there is this continuous sense of fear and insecurity blown by media and experts.

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Our disastrous monetary system: A new must-read book

July 25, 2016

I was just reading this interview of Nathan Bond, a budding entrepreneur. He wonders why Austrian School is not even mentioned in economics textbooks:

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Why services inflation matters and is much higher than official figures..

July 25, 2016

The Indian Government and central bank have been patting their back over lower inflation in last few years. The financial markets too joined in the celebration as all they care for is reported inflation. No credit is given to the positive oil shock which just pushed inflation lower not needing any policy really.

But what about people who would laugh off such pats. Infact there are some concerns that inflation has again started rising. It was reported as 5.77% in June 2016, the highest in 22 months (the previous month number was 5.76% which was reported as 21 month high!). For most of us commoners, even this figure is much lower. The average inflation is 10-15% easily across most things we buy. I mean the disconnect between official figures and actual ones is amazingly wide. There is always talk of overestimating GDP but little on underestimating inflation.

Part of the problem is poor coverage of service inflation in our price index. Rajalakshmi Nirmal has a piece on services inflation which has been zipping at the rate of 10-15% for most services and even higher for others:

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