India recently cut its key interest rate to offset a slowdown due to a global recession. The Reserve Bank of India (Indian Fed) announced that it didn't see any signs of a quick turnaround. This seems to make the over 20% rise in the BSE Sensex, from 9000 to 11000, over the last few weeks seem a little premature.
Meanwhile, while Krishna Byre Gowda seems like a case for a genuine Obama-like figure in India, Mayawati is also laying claim to the fame. I read recently that she says her status as a lower caste person rising to the top makes her the Obama of India. Here's the Times of India drawing a similar comparison. Clearly being like Obama is a badge that everyone is going to claim, but this seems a little far fetched.
Finally, I was in a discussion recently about the excessive nature of US debt. As of 2008, US public debt was ~US$ 10.7 trillion, i.e. 74.6% of GDP. India's public debt is 78% of its GDP. Japan's public debt is now 170.4% of its GDP.
What does this mean for the US?
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