The Indian State : Failed & Doomed?

The Economic Recession sweeping over the United States & Europe had been much talked and hyped over in India. Not long ago, the Ballooning Recession bubble had finally burst; leading to catastrophic consequences in the Economies of these nations, which ultimately needed to be bailed out by money plucked from peoples' pockets. Unscrupulous Investment Banks of these Power Nations had got to their knees, firing away people left-right&centre to save themselves from drowing (few even did). After year long stimulus packages, it seemed the rubble of the bubble-burst was finally getting cleaned off.

Two important developments now have changed the whole equation :  As per latest reports (sourced : http://www.tehelka.com/story_main50.asp?filename=Ws020811OPINION.asp) , Indian Ventures like FlipKart and MakeMyTrip are being vulgarly over-valuated in the Wall Street, even after making losses or only marginal profits. That's pure American Myopia for you. This is how the Bubble builds up to an Obsene Obese Diameter & then bursts.

Secondly, the famous Standard & Poor's rating of United States having slipped from the enviable AAA. As the word goes, when the US sneezes, the World gets a cold. By standards, India seems to be on Malaria. Share Prices have fallen to an all time low in14 months. And just when we thought the worst was over for us.

Its just the tip of the iceberg I fear. Indian Corporates (the same guys who celebrated Diwali when Congress won its 2nd Term) are now fearing that the era of Indian Economic Reforms is probably nearing its inevitable end. The Government on the other hand, is caught up in a shameless face saving act, doing nothing but getting embroiled in all sorts of scams and controversies. And then making a great show of denying the same.

All this while Sonia Gandhi quietly undergoes some major surgery in a US Hospital (of course the chances of getting "mis" treated at the hands of a "Degree-Buyer"  Doctor or a "Caste/Religion Bought" Doctor is pretty less there.)

So much for the nation. God speed!