Originally posted by wiseman
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Just talk to these so called RE brokers in Chennai. They are uneducated and they don't know what is happening around them. How can we expect them to know the world market/economy????
Last few years India saw a tremendous growth between 9 to 11%. In Jan 2008 it was estimated that the growth may exceed 11% and it helped Sensex reach 21.5K. Every soothsayer, poojari, astrologers, pundits, rikshawala, fruit vendor, bus driver/conductor, taxi driver - All predicted Sensex to reach 30K by the end of 2008 and by 2011 sensex to reach 50K.
Sensex has crashed to almost 65% since Jan 08, and some people like Natarag will not accept it as a big stock market crash. They will say market is down and anytime it may go back to 25K.
Now analysts predicts Indias growth rate would be somewhere between 6-6.5%. They didn't say this at the beginning of this year. Predicted growth rate was reduced step by step during the last 8 months. This is nothing but cushioning the fall.
Same thing is happening at the job market side. Initially they'll say nothing will affect Indian job market, then it will be predicted to be very less and job loss will be negligible. Then they'll say only BPO and not IT. Then IT will be included. then Telecom, then Bank. This is nothing but a clear strategy. If we don't understand this then we are the one responsible for our own fate.
Note: Yesterday one poor businessman committed suicide after losing 80 Lakhs in stock market in this FY.
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