Finance is a gun and Politics is knowing when to pull the trigger.So the higher I go, the crookeder it becomes.
Hi Guest ,
I welcome everyone to my Blog. I hope to receive responses (both good and bad) and suggestions which can pave way for both innovation and improvement.
Also i would like every reader of this blog to know that this is not a hate blog and im not into politics. The articles published here just carry a message of awareness along and is NOT INTENDED to hurt the feelings of any person.
Spread the Joy,
Balaji Sridharan
Tuesday, November 25, 2008
The Great Financial Fiasco
This is what has happened in our global markets guys..more so in the US than any where in the world..All the faith in the reporting standards has been shattered and i pray that the so called "growth" in our country-INDIA is not based on such a accounting and reporting systems!!!
We have basically built our foundation on BPOs and KPOs,the orders for which have been consistently copming in from the US again and when the recession has hit them,so it will hit us..Im not indicating that there will be a negative growth rate but the fact remains that our growth rate is slowing down as im updating this blog..im sure that it will hover somewhere around 6% to 7% this year but we have to keep in mind that the we are yet to face repercussions of the recession that the US is going through...
we are just starting to face this problem of shortage of income and i do pray that our fundamentals are strong enough and the reporting systems arent being misused for making book profits rather than actuals.
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