atans1

India following S’pore, rewarding failure

In India, Political governance on 12/08/2012 at 6:23 am

New finance minister in India. Previous one became president. What a country. Mismanaged the country’s finances (high inflation, falling foreign direct investment, retrospective taxes etc) but moved onto the highest post in the land.

Bit like S’pore? Tony Tan as executive director of GIC presided over purchase of “two 30-yr” investments (UBS and Citi) that tanked within months of purchase. He became president.

Seriously, the actions of new Indian finance minister is gd news for stale Indian bulls like self.

http://www.breakingviews.com/india-begins-the-post-mukherjee-clear-up/21034450.article

Err Tharman for president? We could do with a finance minister given our problems with inflation:

– Inflation has accelerated, fueled by rising housing and private transportation costs … The monetary authority last month estimated consumer-price gains will average 4 percent to 4.5 percent this year, compared with the 3.5 percent to 4.5 percent range it forecast previously.

http://www.bloomberg.com/news/2012-08-10/singapore-economy-contracts-as-pressure-gains-for-policy-easing.html

– DBS says S’pore facing stagflation with one of highest inflation rates in region

http://sbr.com.sg/economy/news/singapore-struggle-one-highest-inflation-rates-in-southeast-asia

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  1. Prime Minister Manmohan Singh probably became convinced that it was the right thing to do after recent 4 -eyed meeting with PM Lee.

  2. Surprise! The govt has its hands on both housing (HDB/rents/supply-demand) and transport (COE/ERP/duty). The high “inflation” is really a tax on the population.

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