Now that Modi is having the last laugh, here’s the list of Taleb’s aphorisms that he needs to dish out to the pseudo intellectuals and the snake oil salesmen who argued that his demonetization policy move would spell death-knell for him in electoral politics:
- People feel totally lost (& deep anxiety) finding out that someone they held for stupid is actually more intelligent than they are.
- Risk takers never complain. They do.
- The ultimate freedom lies in not having to explain “why” you did something.
- Nit-picking is the unmistakable mark of cluelessness.
- Never rid anyone of an illusion unless you can replace it in his mind with Continue reading
Here are some dashboard points that I expect after the clean up of the old currency what we can expect on the Indian economic scenario :
A huge amount of around 15-20 lakhs crore of black money would be identified
We will see a bump of 8 to 10% in deposit with banks
Out of the money identified 15 to 20 lakh would be withdrawn over a period of two to three months
Substantial amount of money around 2.5 to 3.5 lakh cr would still remain in system
There would be a wealth destruction of around 3-4 lakhs crores
30% of money will not reach back to RBI
Next 2 to 3 months property prices and land prices can drop till 30 to 35%
Since there is a surge of deposit huge demand for Govt bonds would be there Continue reading