Tuesday, October 21, 2008
MUMBAI: The Indian rupee weakened on Monday as large dollar demand from importers offset gains in the local share market, with a cut in the central bank’s key lending rate providing only little respite.
The partially convertible rupee ended at 48.97/98 per dollar, 0.2 per cent weaker than 48.88/89 at close on Friday. It fell to 49.20 during trade, just short of its record low of 49.30 reached earlier this month.
“There was huge importer demand and there was also some defence-related dollar buying by state-run banks,” a senior dealer with a primary dealership said. “The central bank was expected to step in around 48.90, but they came in much later, pushing the rupee lower,” he said.
For more on this article, please click on the following link: Indian rupee weakens: The News
Monday, October 20, 2008
Indian rupee weakens: The News
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US is going broke, Is there a lesson for Pakistan in here?
The first question we have to ask is, that where do the Chinese get the money that they are loaning us?
And here is the straight answer, from the American consumer buying Chinese products. And why do Americans buy Chinese products, because the labor is cheap in China, even though it reduces the need for the American labor pool and depresses wages in the States. As the wages are depressed the tax revenues are reduced and American government has to create deficts, as tthe government spends the consumers get the money to buy Chinese goods, which are also "more profitable" to sell for the corporations. The corporations with extra profits buy the politicians to get reductions in their tax rates and the capital gains taxes and reduce employee wages and benefits to "keep compatative". As the cycle goes on America becomes a third world country with a lot of debt and no way to pay for it. I wonder whether the Reaganomics has name for it.
Rich do not create jobs to help the poor, never have and never will.
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