A compendium of news/articles/videos/pictures/events/stories that triggered the “Oh my god alarm!” Omygdaily – May 13 2016 will discuss:
- India’s Ugly Bad-Loans Situation Is About to Get Even Worse
- Raghuram Rajan Not Fit for India: Subramanian Swamy
- Why Being an Introvert Is Actually the Biggest Blessing
- ‘We’re running a f—ing casino:’ Politician tells all in manifesto
- Gandhi Heir Emerges as Threat to India’s Modi
- The depressing truth underlying the bull market
- Wife-swapping charge in Navy: SC wants Kerala Police to set up probe team
- Pope Francis mulls opening door to female deacons in Church
- An obnoxious cat bugging a snake who’s being eaten by a toad
Omygdaily – May 13 2016
Economics
India’s Ugly Bad-Loans Situation Is About to Get Even Worse (Read More)
Bad loan problem of India is the worst in all of Asia (Read More)
India’s bad loans could get worse before better: Report (Read More)
It’s time to talk about the bad loans scam (Read More)
The biggest ever fire sale of Indian corporate assets has begun, to tide over bad loans crisis (Read More)
This crisis could take the entire economy and the market down with it. This sounds eerily similar to the subprime mortgage crisis that hit the US in 2007-2008. The Hindu has reviewed the books of the big dogs of the Indian industry and what it reveals is alarming.
- Mukesh Ambani’s Reliance Industries owes ₹ 1,87,079 crore (100 crore = 1 billion; you have to take the exchange rate into account to know the amount in Dollars, Pounds, or Euro.)
- Anil Ambani’s Reliance group owes ₹ 1,21,000 crore
- Shashi and Ravi Ruia’s Essar group owes ₹ 1,01,461 crore
- Gautam Adani’s group owes ₹ 96,031 crore
- Manoj Gaur’s Jaypee group owes ₹ 75,000 crore
- G. M. Rao’s GMR group owes ₹ 47,738 crore
- L. Madhusudhan Rao’s Lanco group owes ₹ 47,102 crore
- Venugopan Dhoot’s Videocon group owes ₹ 45,405 crore
- G. V. Krishna Reddy’s GVK group owes ₹ 34,000 crore
And how much does Vijay Mallya owe? ₹ 9000 crore.
This is scary and very few people are talking about it. All folks are interested in are IPL, Hindi movies, item numbers, BJP, Congress, various regional parties and of course celebrities.
Monetary Policy
Raghuram Rajan Not Fit for India: Subramanian Swamy (Read More)
Raghuram Rajan not fit to be RBI governor: Subramanian Swamy (Read More)
Okay, who is fit to run India’s central bank, then? Name a person please? It is easy to blurt out an opinion and not offer an alternative. And what according to Mr. Swamy should be the interest rate? ZIRP? NIRP?
Life
Why Being an Introvert Is Actually the Biggest Blessing (Read More)
Yes, it is! I am an introvert; love being an introvert. I enjoy my solitude and the peace of mind it affords. Being an extrovert is overrated! Yes, I know, the world worships extroverts, macho man and alpha-males. Well, to each his own!
Market
The depressing truth underlying the bull market (Read More)
Is that why it is called a “bull” market? Maybe they should just call it what it truly is—a central bank controlled bulls*** market!
News
Wife-swapping charge in Navy: SC wants Kerala Police to set up probe team (Read More)
Believe me, Navy is not the only place where wife-swapping is practiced. It is one of the activities that you have to indulge in, if you want to be promoted. Let’s leave it at that.
Politics
‘We’re running a f—ing casino:’ Politician tells all in manifesto (Read More)
And here are a few choicest paragraphs from that book:
“Most of my colleagues are dishonest career politicians who revel in the power and special-interest money that’s lavished upon them.”
“My main job is to keep my job, to get reelected. It takes precedence over everything.“
“Fundraising is so time consuming I seldom read any bills I vote on. Like many of my colleagues, I don’t know how the legislation will be implemented, or what it’ll cost.”
“Voters are incredibly ignorant and know little about our form of government and how it works.“
“It’s far easier than you think to manipulate a nation of naive, self-absorbed sheep who crave instant gratification.“
“We spend money we don’t have and blithely mortgage the future with a wink and a nod. Screw the next generation.“
“It’s about getting credit now, lookin’ good for the upcoming election.”
Gandhi Heir Emerges as Threat to India’s Modi (Read More)
LOL! This guy is as clueless as an octogenarian with a smartphone. This person does not have an iota of leadership skills. He is only famous because he is riding the coattails of his family name. Take that surname away, and he is a non-entity and will not even get a job anywhere. God save India, if he ever becomes the prime minister of the country.
Religion
Pope Francis mulls opening door to female deacons in Church (Read More)
Well, why are they denied in the first place? Is it because, it is a men’s world baby?
Say what now?
See an obnoxious cat bugging a snake who’s being eaten by a toad (Read More)
Forget the cat. This dude got eaten by a toad; EATEN BY A TOAD? I can only imaging what the snake will face when it reaches the snake heaven?
“You had what happen to you? Got eaten my a toad?” ROTFL