India Economy Thread

Musings said:
Thread locked. I did say stop using poverty and hunger as a tool to have a jab at your neighbor. Move on guys.
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I merged with IND Economy thread, so if @Indos @LeGenD @Oscar et al. want to take forward any discussion/debate of the useful parts in broader constructive way.
 
Nilgiri said:
It is case of Pakistan's elite (and thus govt) living beyond their means....especially if you look at very low capital formation (investment) making it even worse....i.e the reason why elite have gone out of way to push a more hand-mouth consumption reliant economy with little investment compared to what could have been done (needing some larger social trust to do).

Of course the poor suffer the most from that even more...both upstream to it and downstream now.

Indian elite also clearly collectively live beyond their means (if you look at the relevant numbers concerning social development vs investment in say UP + Bihar, and gross inadequate transmission of the supply side growth to the lower rungs).....

....just because they run a tighter ship and social trust being higher overall (and India being a huge country to leverage) on it compared to Pakistan's elite/establishment/govt doesnt mean Indian poor are in better shape in some big way compared to Pakistan's poor (it depends as even the poor are vast populations to survey and compare)....both countries have inadequately invested into the matters at hand compared to what they could have.

Sri Lanka also had an IMF bailout because of their elite/govt. But Sri Lanka like South India invested a lot more into social development for the long run, hence their better performance on poverty too.

Argentina again its a huge elite/establishment thing that causes perennial problem there with IMF bailouts. Doesn't mean Argentine poor are automatically in same income/development rung as Indian poor.
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If your macro numbers are large Pakistan would do better. I gave you an example on FOREX. India has $600 billion in FOREX. Going by 1/6th Pakistan would have $100 billion.

You are right India did things right on multiple levels to get to $600 billion in FOREX.

This is the problem I have with comparisons on poor people to judge economies. There are a lot of homeless and people on the lower strata in America. Does any of that stop migrants to USA from coming in ?

Sri Lankans live beyond their means. Sri Lanka has $50 billion foreign debt for 25 million people. It would work out to $2.7 trillion foreign debt for India at the same numbers.

The Indian elite is the tamest of the lot. Maybe incompetent or venal in some aspects.
 
nahtanbob said:
If your macro numbers are large Pakistan would do better. I gave you an example on FOREX. India has $600 billion in FOREX. Going by 1/6th Pakistan would have $100 billion.

You are right India did things right on multiple levels to get to $600 billion in FOREX.

This is the problem I have with comparisons on poor people to judge economies. There are a lot of homeless and people on the lower strata in America. Does any of that stop migrants to USA from coming in ?

Sri Lankans live beyond their means. Sri Lanka has $50 billion foreign debt for 25 million people. It would work out to $2.7 trillion foreign debt for India at the same numbers.

The Indian elite is the tamest of the lot. Maybe incompetent or venal in some aspects.
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Your typical simplistic analysis as always....selective amplification of what I already explained (establishment quality varies between countries) with your silly hoo-hah that got your last reply deleted already.

If India's collective establishment is a 3/10, doesnt mean that is something to celebrate because others rate at 1/10. Woooh' we're 3 times better! Its still a huge failure in end with consequences on Indian population that you obviously have no real idea of.

I'll wait for something of more substance to come up from other members.
 
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Nilgiri said:
Your typical simplistic analysis as always....selective amplification of what I already explained (establishment quality varies between countries) with your dullard hoo-hah that got your last reply deleted already.

I'll wait for something of more substance to come up from other members.
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social spending without any economic activity does not work - Sri Lanka is a good candidate to follow in Argentina's footsteps
 
nahtanbob said:
social spending without any economic activity does not work - Sri Lanka is a good candidate to follow in Argentina's footsteps
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You need economic activity to do (govt) social spending, i.e something to tax (or borrow from) to begin with.

Establishment qualitative capacity to then leverage upon this (for say foreign sector borrowing) within the proper means is on the establishment. Its baked into credit ratings in the end. Foreign sector failure is tied to the establishment, the authority and the financial elite/elitists in the end (since they sensor + signal and rub shoulders the most together in places of most power/influence to call the shots for the rest of the larger population).

So your statement is absurd. It is impossible to have any kind of govt spending to begin with (social or not) if there is "no" economic activity.
 
Nilgiri said:
You need economic activity to do (govt) social spending, i.e something to tax (or borrow from) to begin with.

Establishment qualitative capacity to then leverage upon this (for say foreign sector borrowing) within the proper means is on the establishment. Its baked into credit ratings in the end. Foreign sector failure is tied to the establishment, the authority and the financial elite/elitists in the end (since they sensor + signal and rub shoulders the most together in places of most power/influence to call the shots for the rest of the larger population).

So your statement is absurd. It is impossible to have any kind of govt spending to begin with (social or not) if there is "no" economic activity.
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Let me rephrase it -
social spending disproportionate to the economic activity does not work in the long run

Sri Lanka is a good example of that. they want India and China to pay for it. If India and China did not bite it does not have a pretty ending
 
Great troll fest initiated by a resident troll who dug up some 6-year-old blog and everyone else falling like house of cards...
 
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Nilgiri said:
I merged with IND Economy thread, so if @Indos @LeGenD @Oscar et al. want to take forward any discussion/debate of the useful parts in broader constructive way.
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Shouldnt have done. The guy digs up a source about 6 years old - had no intention to have a discussion. His intent was just to belittle or have a jab.
 
nahtanbob said:
Let me rephrase it -
social spending disproportionate to the economic activity does not work in the long run

Sri Lanka is a good example of that. they want India and China to pay for it. If India and China did not bite it does not have a pretty ending
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There was no social spending "disproportionate" to the economic activity that caused the forex pressure imbalance. Social spending is not forex intensive to begin with (what do you think SL needs to import regd education and health and other things well within its capacity locally?).

The "disproportionality" was all from other kinds of spending the SL establishment did (and imports these grew in the larger economy)....very little of it to do with public welfare.

You have to look into the SL budget or what the %'s were regarding things like education and health and what their forex footprint (minimal) were from these compared to other things the govt did (and the foreign loans taken to back those).

Forex pressure (and collapse) almost never arises from social spending by the govt...it does the vast amount of this with local currency only and taxed + borrowed internally.
 
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hembo said:
Great troll fest initiated by a resident troll who dug up some 6-year-old blog and everyone else falling like house of cards...
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Just focus on the qualitative parts that arose later from it (there was a counter thread someone started in haste that was merged too). You know how forums work by now....look around you....focus on the good, ignore what needs to be ignored.
 
Musings said:
Shouldnt have done. The guy digs up a source about 6 years old - had no intention to have a discussion. His intent was just to belittle or have a jab.
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Handled with thread bans, its just to get into parts that arose later that can be fleshed out more if the fair minded posters are interested.

Any further initiations of trolling using the earlier stuff will get thread bans too.
 

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