Yesterday we had another party. This time it was for the high profile car dealers. The whole purpose was to channel the loans towards us. I was never ready for the statistics they were about to throw at us. Almost half the people going in for the luxury vehicles bought it with ready cash. They never bothered about loans or tax savings. Imagine in a country where there is hue and cry over black money, its not just the politicians who play foul. There is a significant section raising the bar higher and higher.
Today or tomorrow RBI is going for another rate hike. The common man will find it difficult to repay his loans. More pressure is going to descend on financial sector. Meanwhile the government has issued a directive by which panchayats can park their grants on new generation banks. It’s a ‘choice’. Here is a government trying to kill competition and making it increasingly favorable for the private players.
Meanwhile I have decided to support Assange in his time of crises.
There seems to be no good news to brighten up the day. Hope trends will reverse as day wearies on