China is at the crossroads where the ideologies of Keynes and Friedman meet: aggressive stimulus over time loses potency, requiring ever bigger doses
4 min read21 Jul 2017Corporate defaults till end of Nov were at their highest level since 2009, showing that aftershocks of the end of the global credit bubble are still being felt
1 min read11 Dec 2015Arun Jaitley, who has been asking PSU banks to lend more, should know that bad loans usually pile up at the end of a credit bubble
1 min read22 Nov 2014China's credit bubble has led to massive expansion in bank credit, and eventually bad debts, in India
1 min read20 May 2014China's credit bubble bears an eerie similarity to the US housing bubble with common underlying causes at work
3 min read13 Feb 2014The twin dangers of removal of the US monetary stimulus on the one hand and the Chinese stimulus on the other are the new uncertainties for markets
1 min read3 Feb 2014Singapore might wish that it had acted sooner on the speculative property market. But, real-time decisions are harder
4 min read20 Jan 2014There are dangers in ‘strategic’ sense outrunning plain business logic
3 min read19 May 2013Unconventional monetary policies have serious real and implicit costs. It is time policymakers appreciated them
4 min read4 Mar 2013The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared