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Sensex down 323 pts, dips to 3-year low

Mumbai, November 20:: In firm grips of global gloom, the markets prolonged the bear phase, with the benchmark Sensex ending on Thursday at a three-year low of 8,451.01 following a seven-day-long falling streak. The benchmark recovered partially after touching the intra-day low of 8,316.39 as a fresh fall in inflatio ....Read more

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Indian rupee all time lowBy: Bharat | Friday , 21 Nov '08 7:26:48 AM Reply | Forward The gift of the economist Prime Minister to the nation is an all time low Indian rupee against US dollar (>Re 50/1 US dollar). Does this reflect economic progress of India? Does this help the aam admi? Shame on UPA governmrnt and its allies for destrying India economically. The UPA government is best at befooling the people of India and this is all that it has done in all spheres of national life. Shame! Shame!

Lets be warned about the impending debacleBy: Fareeda Rehman | Thursday , 20 Nov '08 9:26:08 AM Reply | Forward Every other sector of industry wants to have drop in lending rates for the prices to drop. The way of markets have now truly become synonymous to the way of jungle - an unnatural ecosystem where survival of one life depends on sacrifice of some other life. Can this system be continued again in human life ? Why aren't our leaders thinking this way ? Now industries want cheaper loans - so that they can be converted to bad loans later. What happens to banks then ? Won't they start failing ? In fact, its the banking system which is extremely vulnerable to such fluctuations - going bust is just a matter of moments - unlike other industries. That should be the last place where heads are to be chopped or rates altered. Having reached such catch-22 situation, its heights of absurdity to see FM and PM and the ruling elite dreaming and imagining India in strange ways. One can understand if an Infosys leader wants to imagine and keep everyone engaged - when the company is one of the prime players behind this grand spectacle of global busting with its wealth-creation strategies. Time is running out pretty fast and unless there is a mass mobilisation for overcoming crisis, things may never be rosy again. Lets be warned.

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