Hereby I will prove how the realty boomers arguments are false.

What are the boomers arguments?

1.) Buy today, houses always increase in value in the long run.
WRONG. House prices cannot increase more than incomes in the long run. This is obvious if you think about it. If house prices go up more than people can afford to pay, buying stops, like it has stopped now.
Even Warren Buffett have pointed out that houses don't increase in intrinsic value. Unless there's a bubble or a crash, house prices simply reflect current salaries and interest rates. If a house is 100 years old, it's value in sheltering you is exactly the same as it was 100 years ago. Then came the maintenance as the house didn't renovate itself. It also has taxes, and insurance - costs that always increase and never go away. The price of the house went up about as much as salaries went up.
To put this is simple perspective, vegetable were costing Rs.5-6/kg when 5 digit salary was a rarity.
Today, the prices have gone up by about 4 times but so have the salaries. So, sounds very much like the reasoning people use now when they talk about how much their father's house appreciated "in the long run" without considering that salaries rose a proportional amount.

2.) Renting is just wastage of money.
WRONG. As said before renting is now much cheaper per month than owning. If you don't rent, you either:

* Have a mortgage, in which case you are throwing away money on interest, tax, insurance, maintenance, costs that increase forever.
* Own outright, in which case you are throwing away the extra income you could get by converting your house to cash, investing in bonds, and renting a similar place to live for much less money. This extra income is sufficient for emergency expenses,retirement etc.

Either way, owners lose much more money every month than renters and that's assuming prices don't correct to very high level & everything is smooth in the economy.

3.) As a renter, you won't have any money left as you will spend them on vacations,cars & hence won't have equity/savings etc.
WRONG. Equity is just money. Renters are actually in a better position to build equity/savings through investing in anything but housing. Renters can get rich much faster than owners, just by investing in conservative stocks & bonds.

* Owners are losing every month by paying much more for interest than they would pay for rent. The tax deduction does not come close to making owing competitive with renting.
* Owners must pay taxes simply to own a house. That is not true of stocks, bonds, or any other asset that can build equity/savings. Only houses are such a guaranteed drain on cash.
* Owners must insure a house, but not most other investments.
* Owners must pay to repair a house, but not a stock or a bond.
* Owners lose their money as house prices reduce. The EMI's remain constant in spite of reduction in rates. At the end of loan tenure, they would have paid almost twice than that of current renters who will buy at logical rates. Keep interest rates in mind. Most of the EMI is not principal amount but interest.

4.) There are great tax advantages to owning a house.
WRONG. Many people believe you can just reduce your income tax by the amount you pay in interest, but they are wrong. Buyers may not deduct interest from income tax; they deduct interest from taxable income. And even then, the tax advantage is not significant compared to the large monthly loss from owning.

If you don't own a house but want to live in one, your choice is to rent a house or rent money to buy a house. To rent money is to take out a loan. A mortgage is a money-rental agreement. House renters take no risk at all, but money-renting owners take on the huge risk of falling house prices, as well as all the costs of repairs, insurance, property taxes, etc.

5.) RE is based on local factors, it's not a national phenomenon. RE of Delhi-NCR,Bangalore & rest of the cities has nothing to do with Pune RE.
WRONG. Lending rates remain the same throughout the country. ALL loans are harder to get. This will drive prices down everywhere.

6.) A rental house provides good income. So, you can rent if you have purchased as investment.
WRONG. Rental houses provide very poor income in hyped areas and certainly cannot cover mortgage payments. Remember there is almost 300% difference between EMIs & rent for the same house.

It's pointless to do the work of being a landlord if you can make more money with no risk, no work, and no state income tax by investing in assured good returns bond.

7.) If owning is a loss in monthly cash flow, but appreciation will make up for it.
WRONG. Appreciation is negative. Prices are going down. It only adds to the injury of already high EMI's.

8.) As soon as prices drop a little, the number of buyers on the sidelines willing to jump back in increases.
WRONG. There are very few buyers left, and those who do want to buy will be limited by increasing difficulty of borrowing now that many house owners are near bankrupt as they don't save anything at the end of the month due to high EMI's.
No one has to buy, but there will be more and more people who have no choice but to sell as their payments rise. That will keep driving prices downward for a long time.

9.) House prices never fall atleast in Pune.
WRONG. If you see the RE scenario of 1996, prices crashed by 50% & took a whole 7+ years to recover.
Exact 1996 scenario may not be there today but strong correction is inevitable across the city.

10.) House prices don't fall to zero like stock prices, so it's safer to invest in real estate.
WRONG. House prices won't be zero, but the equity or the principal amount you paid can be zero or even negative. What you will pay as EMIs later in actual terms is not for the principal amount but only the interest as house prices dip. So, you will be only serving the bank.

11.) Prices will soften gradually, won't crash immediately.
WRONG. Prices are falling off a cliff. No one knows exactly what will happen, but it looks like prices will continue to fall for long time. These are just more manipulation of buyer emotions, to get them to buy even while prices are falling.

12.) The bubble prices were driven by supply and demand alone.
WRONG. Prices were driven by low interest rates and risky loans & good returns for investors in initial phases of boom in 2004-05.
Prices went up, interest rates went up & buyers savings went down. So prices are violating the most basic assumptions about supply and demand.

13.) There is lack of land.
WRONG. Ample of land is available & continue to be even in future in Pune. Sales volume are down. Even in Japan (small country with less land), prices went down. Current prices here are the same as that of 23 years ago. If we really had a housing shortage, there would not be so many vacant rentals.

14.) If you don't own, you'll live in a cheap neighborhood later.
WRONG. For the any given monthly payment, you can rent a much better house than you can buy. Renters live better, not worse. There are downsides to renting, such as being told to move at the end of your lease, or having your rent raised, but since there are thousands of vacant rentals, you can take your pick and be quite happy renting during the crash. There are similar but worse problems for owners anyway, such as being fired and losing your house, or having your interest rate and property taxes adjust upward. Remember, property taxes are forever.

15.) There's always someone predicting a real estate crash.
TRUE, yet irrelevant. There are very real crashes every decade or so. Even a broken clock is right twice a day.

16.) Local incomes justify the high prices.
WRONG. The mortgage should be more than your 3 years earning. It is much higher today. Most are already in danger/red zone.

17.) You have to live somewhere.
CORRECT. But that doesn't mean you should waste your life savings on a bad investment. You can live in a better house for much less money by renting during the down slide in RE.

18.) It's not a house, it's a home.
WRONG. Wherever one lives in it is home, be it apartment, condo, bungalow , mansion or house. Calling a house a "home" is a manipulation of your emotions for profit.

19.) If you don't buy now, you'll never get another chance.
WRONG. History proves otherwise.
Here's a beautiful quote from a analyst:-
"The real issue isn't whether you will be stuck being a renter all your life, she says. Its whether you'll get so scared about being shut out that you'll buy at the market's peak and be stuck in a property you can't afford or sell."

20.) It would take major economic recession or a major earthquake that wipes out this area in order for the price to fall by over 50%.
WRONG. Even today, if the prices fall by 50%, there will still be very few people who can buy at this levels due to uncertainty in jobs & most importantly high EMIs. Also, look at the rental rates for equivalent houses. Which loss per month is larger? EMI or rent?

contd....
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  • where there is money there is monkey business

    ECONOMICS FEBRUARY 28 Are banks rigging the price of gold?
    Thinkstock
    Thinkstock
    A finance researcher who in a landmark 2008 paper uncovered the manipulation of the London Interbank Offered Rate (LIBOR) has claimed that the price of gold is being manipulated in a similar manner, according to Liam Vaughan of Bloomberg.

    New York University Professor Rosa Abrantes-Metz's theory about LIBOR manipulation eventually led to banks being fined $6 billion.

    In a new paper, she and her co-author screened intraday trading in the spot gold market from 2001 to 2013 for sudden, unexplained moves that may indicate illegal behavior. They claim that the way in which the gold price is set "is certainly conducive to collusion and manipulation, and the empirical data are consistent with price artificiality." They conclude: "It is likely that co-operation between participants may be occurring."

    The gold price benchmark is determined twice a day, at 10:30 a.m. and 3 p.m., in conference calls between member banks of the London Bullion Market Association (LBMA), and is based on the current market price, plus or minus any orders that member banks or their clients wish to make. Like the LIBOR rate, the gold price set by this process is used as a benchmark by other banks and financial institutions around the world. In a $20 trillion market like gold, being able to set the benchmark price of an asset with little or no regulatory oversight could be seen as an opportunity for profitable insider trading.

    Of course, none of this actually proves that the gold price is being rigged for profit. But it does mean that financial regulators need to look at it more closely. - - John Aziz
    CommentQuote
  • Originally Posted by realacres
    Actually they should start before Infy, but worse it will be with Infy i.e. 2 years max. It is coming in 140 acre campus in Nagpur. Good part is all these IT cos have received approvals from state Govt.

    Nagpur is being touted as next city for all major IT cos. Boeing is already close finishing their work for Maintenance Repair Overhaul (MRO) facility which would provide employment opportunities to thousands of youths in the region as per their assessment. This is in collaboration with Air India & it will help in servicing of all Boeing planes here.

    A new railway hub is also going to be started so as to enable transportation of goods & raw materials for manufacturing sector. The foundation ceremony for this took place on same day of Infy last week.

    Overall, its really good, people will get jobs closer to their native place & this will reduce load on infra in cities like Pune & Bangalore. When I shared this news with one of my friend who is from Amravati, Vidarbha, was so happy that he said that he won't mind working at Nagpur even for 15-20% less salary than what he gets in Pune & he will sell his flat at Wakad & use part of this money for renovating his native home, rest goes in savings.

    This is beneficial for all except for RE bulls & builders who betted more than required on Pune RE based on IT. They became greedy, cost of living went up & now reverse migration will start & builders-investors will keep showcasing the same projects again & again in RE exhibis with same sentence of FEW FLATS LEFT. :D

    Btw, did anyone visit Sakal vaastu exhibi at pride hotel last weekend ??


    So since last 3 years it was Phillippines and Thailand taking over jobs from Pune. Now Nagpur and Ahemedabad are new boooo factor. Good we got some variety. Else people get bored if you stick to same thing for long. So you are predicting a doom in Pune RE due to Nagpur and Ahemedabad as people will sell their RE in Pune and move back to these places. Also you accept the fact that the Thailand and Phillippine factor could not do much to Pune RE story .
    CommentQuote
  • Originally Posted by paaaap
    TCS attrition is 10.9% and not 20%. Maybe next time you should rely on facts and then maybe stuff will start to make sense.

    paaap. nice stats. Actuall all the bearish stats are infalted by 2 to 5 times to paint economic pictures as black as possible. Now once so much negetive data get collected people end up concuding price drop etc. Then when things go exactly in opposite direction they wonder where they went wrong with their analysis. :)
    CommentQuote
  • Originally Posted by compuwalah
    So since last 3 years it was Phillippines and Thailand taking over jobs from Pune. Now Nagpur and Ahemedabad are new boooo factor. Good we got some variety. Else people get bored if you stick to same thing for long. So you are predicting a doom in Pune RE due to Nagpur and Ahemedabad as people will sell their RE in Pune and move back to these places. Also you accept the fact that the Thailand and Phillippine factor could not do much to Pune RE story .

    Please see the facts first :-

    > Where is BPO boom now ? Ever wondered where it went ?
    > Non-aggressive expansion in Pune is the statement from IT giants. Several 1000s of seats are being added at Hyderabad & with Telangana settled, H'bad looks more promising.

    Now simple question to you :-

    What is the Affordability : Inventory ratio is Pune RE ?? Kindly explain.


    Blitz,
    The source is Rajya Sabha MP who played major role to sideline Advani. He was amongst first to claim Modi for PM at BJP convention at Goa.
    CommentQuote
  • JPMorgan to cut 8,000 jobs, lowers 2014 profit target

    JPMorgan Chase & Co (JPM.N), the largest U.S. bank, announced thousands of job cuts on Tuesday as the mortgage lending business slows, and said it was lowering its profitability target.


    Indian economy still stuck in a rut: HSBC

    Indian economy still stuck in a rut: HSBC | Business Line
    CommentQuote
  • United Bank of India to put Rs 700 crore non-performing assets on sale

    Some assets of Zoom Developers, which had gone bust after taking Rs 3,000 crore from the banking sector, would be sold next month.

    United Bank of India (UBoI) is actively pursuing disposing off its non-performing assets in a desperate attempt to salvage some revenues from its mounting recoverables in addition to efforts being taken at the behest of the finance ministry to recover some of its bad loans.

    Close to Rs 700 crore of NPAs are being planned to be put up for sale while some assets of Zoom Developers, which had gone bust after taking Rs 3,000 crore from the banking sector, would be sold next month, dna has learnt.

    In fact, processes are currently on to sell NPAs to asset reconstruction companies and a final decision of the bank on accepting bids by them would be taken by March 15.

    Then, on March 20, UBoI would undertake an e-auction through MSTC Ltd to dispose off some of the assets of beleaguered real estate company Zoom Developers including 900 sq meters of land at Marol Industrial Area in Andheri (East) and 75,788 sq feet at various places at Indore.

    Zoom Developers collectively owes Rs 3,002 crore to the banking sector.

    These apart assets worth Rs 5.75 crore in Delhi and Ahmedabad would be put up for sale, officials said.

    Currently, the finance ministry is monitoring recovery of NPAs on a daily basis, with SMSes being sent out at the end of the working hours by the bank's top officials to the ministry.

    Till now recovery worth Rs 1,781 crore has been made during the current financial year, UBoI officials said.

    The finance ministry is currently awaiting an administrative inquiry as to why UBoI's NPAs suddenly shot up during the current financial year -- from 4.2% to 16.4% at the net level over the second and third quarters.

    Another report, a forensic audit carried out by consultancy firm Deloitte, has already been submitted.

    UBoI is currently headless with chairperson and managing director Archana Bhargava opting for sudden voluntary retirement on February 20 and the day-to-day management being looked after by two executive directors, Deepak Narang and Sanjay Arya.

    An option to supersede UBoI's board as suggested by the Reserve Bank of India (RBI) was also considered but didn't find favour with the finance ministry.

    United Bank of India to put Rs 700 crore non-performing assets on sale
    CommentQuote
  • Originally Posted by realacres
    Please see the facts first :-

    > Where is BPO boom now ? Ever wondered where it went ?
    > Non-aggressive expansion in Pune is the statement from IT giants. Several 1000s of seats are being added at Hyderabad & with Telangana settled, H'bad looks more promising.

    Now simple question to you :-

    What is the Affordability : Inventory ratio is Pune RE ?? Kindly explain.


    Blitz,
    The source is Rajya Sabha MP who played major role to sideline Advani. He was amongst first to claim Modi for PM at BJP convention at Goa.


    I don't remember claiming about BPO boom. So not sure why should I answer it. Maybe you can get better info from BPO companies.

    But even if you imply BPO boom has busted , then why the prices have doubled in last 4 years ? Now you answer that :).
    CommentQuote
  • Originally Posted by compuwalah
    I don't remember claiming about BPO boom. So not sure why should I answer it. Maybe you can get better info from BPO companies.

    But even if you imply BPO boom has busted , then why the prices have doubled in last 4 years ? Now you answer that :).


    To make it "fact / data" based you have to consider the following ...

    - What was the total volume of buying in Pune RE 4 years ago. What is it today?

    - What proportion of buyers then were end-users and what is it now

    - What was the price then and what has been the progression now

    If you calculate the total value of purchases every year from 4 years back to now and put an approx proportion of value as debt and incorporate the proportion of investors to total buyer ...

    you should get an indication of the amount of risk the buyers have added due to this price rise and given that a large number of buyers are speculators, we can chart the volume of pain at various price points as prices start sliding down.

    I believe, if prices even decline 20-25% a majority of home buyers in Pune over last 4 years would be "underwater" (meaning equity being wiped out as home "value" would come down below outstanding loan amount).

    Risk at this time is very high and if interest rates rise around this time (as hot money is sucked out back to the West and credit runs dry) and job market tanks, we have the making of a mega moment!

    As builders (with no more access to cheap credit) and home debtors (with reduced ability to service debt in a flat/down market) and banks (with repossessed properties) ALL come to market to dump. Just as liquidity disappears as buyers (if any) decide not to catch fast-falling knife and hold back.

    I still think this moment is in the future sometime in the next 2-3 years.

    Don't you think?

    cheers
    CommentQuote
  • Economists repeat their mistakes. Just as in the Great Depression, they are once again fixated on inflation

    Recently the Federal Reserve released transcripts of its monetary policy meetings during the fateful year of 2008. And boy, are they discouraging reading.

    Partly that’s because Fed officials come across as essentially clueless about the gathering economic storm. But we knew that already. What’s really striking is the extent to which they were obsessed with the wrong thing. The economy was plunging, yet all many people at the Fed wanted to talk about was inflation.

    Matthew O’Brien at The Atlantic has done the math. In August 2008 there were 322 mentions of inflation, versus only 28 of unemployment and 19 of systemic risks or crises. In the meeting on September 16, 2008,there were 129 mentions of inflation, versus 26 mentions of unemployment and only four of systemic risks or crises.

    Historians of the Great Depression have long marvelled at the folly of policy discussion at the time. For example, the Bank of England, faced with a devastating deflationary spiral, kept obsessing over the imagined threat of inflation. As the economist Ralph Hawtrey famously observed, “That was to cry ‘Fire, fire!’ in Noah’s flood.” But it turns out that modern monetary officials facing financial crisis were just as obsessed with the wrong thing as their predecessors three generations before.

    Alarmist call

    And it wasn’t just a bad call in 2008. Much supposedly informed opinion has remained fixated on the supposed threat of rising prices despite being wrong again and again. If you spent the last five years watching CNBC, or reading The Wall Street Journal opinion pages, or for that matter listening to prominent conservative economists, you lived in a constant state of alarm over runaway inflation, which was coming any day now. It never did.

    What accounts for inflation obsession? One answer is that obsessives failed to distinguish between underlying inflation and short-term fluctuations in the headline number, which are mainly driven by volatile energy and food prices. Gasoline prices, in particular, strongly influence inflation in any given year, and dire warnings are heard whenever prices rise at the pump; yet such blips say nothing at all about future inflation.

    They also failed to understand that printing money in a depressed economy isn’t inflationary. I could have told them that, and in fact I did. But maybe there was some excuse for not grasping this point in 2008 or early 2009.

    The point, however, is that inflation obsession has persisted, year after year, even as events have refuted its supposed justifications. And this tells us that something more than bad analysis is at work. At a fundamental level, it’s political.

    This is fairly obvious if you look at who the inflation obsessives are. While a few conservatives believe that the Fed should be doing more, not less, they have little if any real influence. The overall picture is that most conservatives are inflation obsessives, and nearly all inflation obsessives are conservative.

    Why the obsession?

    Why is this the case? In part it reflects the belief that the government should never seek to mitigate economic pain, because the private sector always knows best. Back in the 1930s, Austrian economists like Friedrich Hayek and Joseph Schumpeter inveighed against any effort to fight the depression with easy money; to do so, warned Schumpeter, would be to leave “the work of depressions undone”. Modern conservatives are generally less open about the harshness of their view, but it’s pretty much the same.

    The flip side of this anti-government attitude is the conviction that any attempt to boost the economy, whether fiscal or monetary, must produce disastrous results — Zimbabwe, here we come! And this conviction is so strong that it persists no matter how wrong it has been, year after year.

    Finally, all this ties in with a predilection for acting tough and inflicting punishment whatever the economic conditions. The British journalist William Keegan once described this as “sado-monetarism”, and it’s very much alive today.

    Does any of this matter? It’s true that the Fed hasn’t surrendered to the sado-monetarists. Notably, it didn’t panic in 2011, when another blip in gasoline prices briefly raised the headline rate of inflation, and Republicans began inveighing against the “debasement” of the dollar.

    But I’d argue that the clamour from inflation obsessives has intimidated the Fed, which might otherwise have done more.

    (This article was published in the Business Line print edition dated March 4, 2014)
    CommentQuote
  • Hotels count losses as business travellers drop by 40-50 per cent in past six months

    Read more at:
    Hotels count losses as business travellers drop by 40-50 per cent in past six months - The Economic Times

    Hotels count losses as business travellers drop by 40-50 per cent in past six months - The Economic Times

    "Inbound business travel to India, especially for new business ventures, has dropped by 40-50% over the past six months due to the political uncertainty," says Sarabjit Singh, MD, Travelite (India), an in-bound tour operator and a senior functionary of the Indian Association of Tour Operators.


    that's a huge fall in inbound business travelers. Makes me wonder how India is going sustain even a 4.5% GDP growth now...
    CommentQuote
  • Originally Posted by ThodiSiZamin
    Hotels count losses as business travellers drop by 40-50 per cent in past six months

    Read more at:
    Hotels count losses as business travellers drop by 40-50 per cent in past six months - The Economic Times

    Hotels count losses as business travellers drop by 40-50 per cent in past six months - The Economic Times



    that's a huge fall in inbound business travelers. Makes me wonder how India is going sustain even a 4.5% GDP growth now...


    With Modi coming, all will come back!!

    On more serious note

    1. ONGC is complaining about RIL about some fraud of tapping its resources. I haven't remember a impotent govt anywhere in the world. A private company is openly tapping a govt resource. We buggers shamelessly support corporate frauds in the name of economic growth. I dont prefer such a growth. This is not growth. This is prosti*******.

    2. Another shocker is that the number of articles coming in prostitute media like economic times and times of India in support of 'subrata roy sahara' and opposing inflation fighting ways of RBI.
    '
    CommentQuote
  • Originally Posted by wiseman
    To make it "fact / data" based you have to consider the following ...

    - What was the total volume of buying in Pune RE 4 years ago. What is it today?

    - What proportion of buyers then were end-users and what is it now

    - What was the price then and what has been the progression now

    If you calculate the total value of purchases every year from 4 years back to now and put an approx proportion of value as debt and incorporate the proportion of investors to total buyer ...

    you should get an indication of the amount of risk the buyers have added due to this price rise and given that a large number of buyers are speculators, we can chart the volume of pain at various price points as prices start sliding down.

    I believe, if prices even decline 20-25% a majority of home buyers in Pune over last 4 years would be "underwater" (meaning equity being wiped out as home "value" would come down below outstanding loan amount).

    Risk at this time is very high and if interest rates rise around this time (as hot money is sucked out back to the West and credit runs dry) and job market tanks, we have the making of a mega moment!

    As builders (with no more access to cheap credit) and home debtors (with reduced ability to service debt in a flat/down market) and banks (with repossessed properties) ALL come to market to dump. Just as liquidity disappears as buyers (if any) decide not to catch fast-falling knife and hold back.

    I still think this moment is in the future sometime in the next 2-3 years.

    Don't you think?

    cheers


    Hi wisey. though that question was directed towards RA but its ok for you to chip in.

    nice post. You "sound" very knowledgable as usual :).

    btw any idea why RE prices doubled in last 3-4 years ?
    CommentQuote
  • ""ONGC is complaining about RIL about some fraud of tapping its resources. I haven't remember a impotent govt anywhere in the world. A private company is openly tapping a govt resource. We buggers shamelessly support corporate frauds in the name of economic growth. I dont prefer such a growth. This is not growth. This is prosti*******.

    2. Another shocker is that the number of articles coming in prostitute media like economic times and times of India in support of 'subrata roy sahara' and opposing inflation fighting ways of RBI."

    Many of our corporates are crony capitalists who will not survivie without secret backing from you know who--------???
    Compettive merit,challenging business strategy,quality products comparable in safety,eficiency to the best in the world,are not necessary to become billionaires in our nation.You ned to know how to handle the Government and babudom.
    Then they can shoot up financially to worlds richest,while bulk/large number of Indians are poor.
    Kapil dev and bollywod coming out in favor of a businesman is not surprising,they have received millions from them in form of games,ads and movies.But they do not read newspapers I think to be unaware of legal hassles faced by the group.
    AAP is right about the way our industry-leader nexus operates.But we find it dificult to see the truth staring at our face.
    Genuine industrial development with ethical culture is no where in sight.
    CommentQuote
  • Originally Posted by compuwalah
    Hi wisey. though that question was directed towards RA but its ok for you to chip in.

    nice post. You "sound" very knowledgable as usual :).

    btw any idea why RE prices doubled in last 3-4 years ?


    I don't think anybody quite knows why, but here are a few words that come to mind ...

    "Rigging"

    "Collusion"

    "money laundering"

    "unregulated"

    "opaque / non-transparent"

    "Corruption"

    "Fraud"

    The players would obviously include Politicians, Bankers, Builders ...

    The ostensible reasons would obviously include "rise in input costs (especially land)"

    cheers

    PS - Forgot this one. Risky, speculative buyers? (not everyone, of course, but enough to make a difference).

    And thank you. At least I sound knowledgeable, which is comforting to know. Now here is why this is a winner ...

    To one who is knowledgeable, if I sound knowledgeable I must be so (otherwise I would not sound so)

    To one who is not knowledgeable, if I sound knowledgeable I must be so too!!! :D

    Thank you for the compliment.
    CommentQuote
  • Originally Posted by vaibav123
    ""
    AAP is right about the way our industry-leader nexus operates.


    AAP may be right about industry-leader nexus but Vajpayee governmeent of BJP had done good work to bring down prices including fuel costs - gas/petrol, transportation costs (by building highway network across india), increasing exports vs imports.

    Kejriwal is NOT the most honest politician till date.

    INDIA has seen "much more" honest leaders like Shastri Ji, Jai prakash narayan, A B Vajpayee, Manohar Parikar etc....

    What AAP has done today in BJP Delhi office was worst then even goondaraj and vandalism of SP goondas in UP................

    Totally with the consent of "Kejri" to break into headlines. All he is trying to do is to eat Modi votes to support Congress.
    CommentQuote