What seems to be affecting the markets at the moment? The world economies seem to be losing some steam.
There is Thailand cutting their benchmark interest rate, seeing the slowdown there. The drop in the Thai bhat can only help their exports.
On the other hand, the news that the United States economy grew only by a slim 0.3% GDP last quarter dampens the spirits, but may be attributed to the severely bad weather experienced in the U.S. in winter, bringing disruption to travel and business. But it may prove the fillip that will enable keeping the interest rate at their historic lows for some time more. I expect the jobs numbers may be a bit tepid as well.
The strong dollar on the other hand does not help the exports, and measures will have to be put in place to ensure exports remain competitive. The U.S. banks are in a position to offer extended credit facilities, as well as low interest rates; if the dollar drops a little, it will be no bad thing.
After Prime Minister Modiji's visit to France, Germany and Canada recently, the Indian markets were bullish with a sense of jubilation and anticipation of growth. That of course will materialise over the next year or so, together with the plans of building a hundred new cities in India. France will participate in helping build 3, so there is ample scope for participation by other friendly nations. Germany is much admired for their inclination to build another Hanover in a friend's country. Maybe a few such cities will prove possible on the Indian map? As for friendship with Canada and Australia, it is a continuing story of co-operation in supply of nuclear fuel, and the time has now come for India to build a few more nuclear reactors for their energy needs. The huge population, the hot weather and the growing expectation of the population demand that, and if it seems possible, it seems under the progressive Shree Modiji's leadership.
I heard Mr Chatwal the New Jersey based hotelier had a 500 crore fund waiting to be invested in Punjab, for a nuclear plant. Now is the time for such enterprise. It will make your friends happy and balance against the terrible outages that are sometimes occurring in the old power grids.
As for the rioting in Baltimore, Maryland, that is a sign of people who feel outraged and angered; better understanding by the Police and disciplinary action against the offenders may help to restore calm. I am of the opinion that if people are empowered to create business enterprises, they are happily busy with their work. There would be no reason for actions that lead to such ill-will and anger. The government and the banks must offer soft loans and support to the people. That would be a practical way to avoid such situations arising in the first place. Today, my blog has had over a 1,000 visitors from Redmond, Washington. My friends, my appeal would be to create peace. In memorium to the black man killed by the Policeman, I urge you to create peace, and peacefully ask for justice. That way, the consciousness will understand what is wrong, in every human being. Rioting and destroying the cars and buildings is not the way. The way is peace. Like Gandhiji taught the people in India - Satyagraha. It is the only way that wins, when I look at the example of Nelson Mandela. It is the method of civilised humankind, it is from the Vedas I send my deep condolences to the families of the victims, Mr Brown and Mr Gray. May God rest their souls in peace, and may peace return to the affected communities. Amen.
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