2013 August 19 « Dr Alf's Blog

Indian rupee collection (Photo credit: Wikipedia)

IMF Chief Economist Raghuram Rajan at the World Economic Outlook press conference.WEO Press Conference, Washington DC, IMF Headquarters (Photo credit: Wikipedia)

This is an important and MUST READ article from Reuters. Check it out!

Indian rupee sags to record low despite government steps | Reuters.

With the Indian Rupee in free fall against the US Dollar, it’s good news for American holiday makers, but increasingly alarming for Indian consumers and businesses.

A few years ago, India was one of the proud members of the BRICS community, and foreign educated Indians were leaving their jobs in the US to return to India and their roots. Now surely many wealthy and educated Indians are worried?

My wife and I are planning an extended trip to India next year, and it will be nice to catch up with old friends and get a first hand viewpoint.

From my own vantage, I worry with India approaching a financial crisis whether Raghuram Rajan the new Governor of the Reserve Bank of India has the stamina and tenacity for the emerging crisis?

See two of my earlier blogs:

Let me turn it to an open question:

Will Raghuram_Rajan have the stamina and tenacity to apply IMF discipline on Indian financial regulation?

Related articles

Ed Milliband MP speaking at the Labour Party conference. (Photo credit: Wikipedia)

This is an important and MUST READ article from the Telegraph.

Ed Miliband must ‘grow up’ and show leadership, ally warns – Telegraph.

I agree that UK Labour Party leader, Ed Miliband has failed to capture the political initiative. However, I disagree with the suggestion of “growing up” and “showing leadership”.

Let me take leadership first. Whilst it is possible to learn about good leadership, I believe that leadership is an inate quality and you either have it or you don’t. Personally, I do not think that Ed Milband has the necessary leadership quality, and relies too much on passionate speeches full of the latest theory from Harvard.

In terms, of “growing-up” Miliband just is not a political heavy-weight with the stature of many of Prime Minister George Brown’s cabinet, like Lord Mandelson or Alistair Darling. Also Miliband is too close to the union lobby.

Surely, it’s time for radical action either from Ed Miliband or his successor?

Any thoughts?