Tuesday, January 25, 2011

RBI and Inflation

   Is This Monetary Policy or Non-policy ?

Heard on the Street : Many comments were heard from many sections of the society about an event, which now a days has become a big media circus, especially for the financial media. As is normal now, a big hue and cry is  generated much before, during and after the event. Here are some side comments heard on the street, which,  normally, isn't heard in the open.

  • Thank god it's over, never makes any difference on the ground, but then, why all the hue and cry ?

  • Haven't you heard the saying - ' Every dog has it's day ' ?   It's one of those days on which the nation's accountants get their share of  the media highlight.
  • But, who will bell the inflation cat ?  RBI says it's not their business ? Or what does the expected inflation rate of  7 % mean ?        
  • It  means that they were simply hoping, for the last three years or so, that inflation will go away and they are afraid that their hopes are being belied by this time !  ( BTW, they also buy onions ! )

  • Might be very disappointing to them ?

  • But why ? No one is going to blame the RBI. Besides the FM has given 100 % marks to the non-policy. So far so good and the Guv is enjoying all the attention he can get.

  • Yeah, His Masters Voice !   But what happens to the economy ?

  • Who cares ! Let it go to the dogs !
  • Why are the big fat bankers  talking alarmingly about the liquidity crunch ?
  • Hey, they are showing the withdrawal symptoms and they simply don't want their gravy train to stop ! So, they are not interested to give real interest rates to the depositors either, because it may affect their fat bonuses of both the kinds !
  • What about the business leaders ? They say they are concerned about the diminishing growth ?
  •  Who would like to lose the big set of concessions and the free money ? That is their concern.

Interview with the PM :

Question :  What is your view on the latest money policy ?

PM  :   We consider money as very important and we are still trying to get the maximum details from  the Swiss authorities. But our hands are tied by the various international treaties.  Actually we are at the mercy of them because we can't even do anything about the information we have received so far.  And if you were asking about the 2G money, how can I count the money which the government has not yet received. But I assure that no money received will be left uncounted.

This is one of the last comments heard from the aam admi :

  •  Why on earth this circus is still called a credit policy when in real life, they are robbing whatever is left  in the already empty pocket of mine  ?  Why don't they call it their debit policy ?  

Heard at a party of robber barons ( business magnates, bankers and politicians ) :  

" After all, whose money is it any away ?  Let's all party and rob it till the money lasts !!! " 

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