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India's Downward Spiral Accelerates: "The Real Pain Is Just Beginning"

India's Downward Spiral Accelerates: "The Real Pain Is Just Beginning"

Submitted by Jayant Bhandari via Acting-Man.com,

India’s Prime Minister Narendra Modi announced on 8th November 2016 that Rs 500 (~$7.50) and Rs 1,000 (~$15) banknotes would no longer be legal tender.

Sadly, the despondency visible in the old man’s facial expression has become a widespread phenomenon since the currency ban, particularly among India’s poor

 

El-Erian Warns "Investors Are Underestimating Sudden Policy Shifts"

El-Erian Warns "Investors Are Underestimating Sudden Policy Shifts"

 

Separate comments last week from European Central Bank President Mario Draghi and Federal Reserve Chair Janet Yellen confirmed an ongoing change in the policy configuration facing their two systemically important central banks: The recognition of a transition in both economic conditions and prospects, along with questions about robustness and durability.

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