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Good Riddance ... R3

International Media and fans of R3 are predicting doomsday for India... rupee will fall, FDI will exit, inflation will rise and for many the sun may not rise ....

3 reasons why R3 should have been fired a long time ago ..

1) R3 has been an advisor to the UPA government since 2007 in one capacity or other. Economic policies of UPA have been shaped by R3 since years. For some reason, after every failure R3 gets promoted. He career in India is no different from Rahul Gandhi. Every failure leads to a promotion. R3 wants to take credit for the last 2 years but what about the mess since 2007 ... like Rahul Gandhi that is the work of other mortals ...

2) Killing Jobs & Growth - Small and Medium enterprises are primary drivers of job creation. With interest rates kept high, its very difficult for a SME to raise any capital. Old India which has a bank balance and a home likes high interest rates. A young India needs loans ... to study , to buy a bike , to provide a good living for their parents  ... R3 killed the dreams of young India. 

3) Not a team player - R3 was never a team player. He never cared to align with the goals of the government....when India wanted growth, R3 wanted to tame inflation; when India was trying hard to attract investments, R3 was highlighting risks ( bad banking system,  calling India a 'one eyed king' etc )........R3 was like a player in an orchestra who was playing his own tune. 

R3 wants us to believe that keeping interest rates high will lead to low inflation. By this logic low interest rates should lead to high inflation ... a simple google search reveals that there are countries with a negative interest rate have low growth. 

Management 101 says that an incompetent employee who is not a team player should be the first to be fired. R3 should have been fired a long time back ...

PS - People who blindly buy the dope sold by economists like R3 should read the book Think Fast, Think Slow ... the world does not behave per the models of these arm chair economists 

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