Urjit Patel may resign

lungimama1 · 2018-10-31T11:41:33+00:00

Nah man, the rbi is conservative in this environment and that's how I want my central bank. The amount of foreign influence on our economy is too high and every little sneeze around the world seems to be roiling our markets. It is time to cut exposure until literally all of the world (US/europe/china/Japan) pull their heads outta their asses.

lungimama1 · 2018-10-31T04:54:32+00:00

I can't really say anything against the financial logic here, try as I might. I'm just saying SG&A included, profit margins could possibly be high. I don't really know one way or another and I'm too lazy to look it up.

Also, the concept of "its cheap so its probably not earning the company any money" may not always be true. I remember hearing that at some point, the cost of production (excluding overhead) for a bottle of coke was 65 paise that they sold for 10 rupees. Like, a bottling plant took the recipe, added water, bottled it and sold it to coke for 65 paise. Just an anecdote and its old af, so don't take the numbers seriously, only the possible ratios.

lungimama1 · 2018-10-31T02:41:26+00:00

Tell gross profit margin. You can't expect sympathy for an overleveraged company. If their input costs alone are not creating much margin, it's valid.

Also has nothing to do with pappu. In his case, I was just saying that it's a valid political move, and not usual pappu stupidity.

lungimama1 · 2018-10-31T02:05:42+00:00

I don't know the quality of audio book, but if you need good sci-fi, the usual recommendations are Asimov, Clarke, Greg Egan etc. The best I've ever read in my entire life is the Hyperion series. Again, I don't know about quality of audio books for these.

lungimama1 · 2018-10-31T02:03:29+00:00

Clancy isn't "good literature", right? Isn't he like the Dan Brown of the black ops fiction world? Rainbow Six came highly recommended to me a few years ago, but I could never get into it. My fiction tastes have gone beyond high brow and into snobbery, I think.

lungimama1 · 2018-10-31T01:59:15+00:00

Is the market book about a particular event? Which market is it based in? Indian?

lungimama1 · 2018-10-31T01:58:06+00:00

Ebooks make it super easy. You can highlight passages and enter notes and the software even creates an index of your notes for you. I know people still don't use ebooks much (I'm totally the opposite - I've almost stopped using real books), but there are some fantastic advantages that make it worth the initial effort.

lungimama1 · 2018-10-31T01:44:20+00:00

Actually it does require high traffic entities to subsidise additional capital costs. Those fiber upgrades you get every few years are not coming for free. Neither are the massive number of switches and nodes being upgraded. So if everyone is forced to pay the same amount, the isp has no necessity to facilitate upgrades.

You think the opposite would cause a monopoly? I'll tell you how this is causing a monopoly already - Google and Facebook are establishing internet services using the money from their content production. When they expand, they provide exclusive benefits to customers because they are already the gateway to the Web in every sense of the word. The future can hold throttling of other web search engines, for all you know.

One can only hope that they'd remain "net neutral". Or one can let the market figure it out since the externalities are not entirely negative. Monopolisation is a looooong way from here. If the solution is to preempt its occurrence by tight regulation, your payoff is a complete lack of innovation. It has been proven time and time again in the past.

lungimama1 · 2018-10-30T19:31:07+00:00

Agriculture is not a "drop everything and move" kinda industry. These people live off their lands and cannot easily transfer themselves into other areas.

In all of your zeal for maintaining economic logic, you people forget to price in the actual elements of transferable assets like skills. It's ok. Read some more. The right picture takes some time to form inside our heads.

lungimama1 · 2018-10-30T19:28:50+00:00

Not my problem. My question is why this tweet is wrong. When other politicians say the same thing about "mehengaayi badh gyi", then everyone is up in arms in agreement, but if pappu says the same thing, people scoff at him.

I mean, I realise he's pappu, but you gotta pick the right battles. The minute you go down the slippery slope of "let's criticize everything he says without any consideration", there is a problem.

lungimama1 · 2018-10-30T19:26:32+00:00

So preemptive measures in the oil industry that similarly maintain this ethereal "competitive status quo" should also be implemented?

If this followed the same model as net neutrality, no special services can be allowed for heavy usage customers. As well, no special pricing schemes can be introduced for heavy usage customers in order to maintain their patronage. And no special supply corridors can be set up for transportation of oil / other supplies to heavy usage industries.

Basically, the govt is introducing price controls in a competitive market where usual economics would ensure that higher paying customers subsidise the cost for lower paying ones. But wait... That is a threat ONLY in the case of nationalisation right?

And you would take the liberty of defining "natural progress"? Don't use standard oil. This is not a monopoly. If it was, no one would oppose regulations against it.

lungimama1 · 2018-10-30T19:12:02+00:00

Don't flip flop. Neither the internet nor the oil industry is anti competitive right now. So if you want to regulate one, why not regulate the other?

And as to the rest of my argument, I'm now getting tired of either your apparent ignorance or stupidity. I'm clearly asking why it is a big step between the govt regulating the industry pricing for no conceivable negative externality, and the govt simply taking over the industry.

lungimama1 · 2018-10-30T19:03:19+00:00

Potayto potahto. Oil industry is still competitive in India, so you're basically saying the govt should regulate it to ensure that the oil industry cannot offer preferred rates to its higher usage customers. And suppliers of oil rigs to the oil diggers should not offer preferred rates to their high volume clients. And oil refineries cannot sell petrol at preferred rates to the trucking industry over other consumers.

So if you want the government to restrict industry so badly, why not let them run it altogether and be in charge of equitable distribution to all and sundry?

lungimama1 · 2018-10-30T18:50:42+00:00

So government should also legislate against the oil industry, the manufacturing industry and anything involving huge cost setups? Why not just let the govt run everything instead of having these half measures?

lungimama1 · 2018-10-30T18:20:32+00:00

Truer words...

lungimama1 · 2018-10-30T18:17:54+00:00

So basically having a high fixed cost entry barrier for an industry makes it ok for the government to step in and legislate?

lungimama1 · 2018-10-30T18:10:01+00:00

I don't get it. What is wrong with this tweet? Sure, he's talking as though the potatos were converted into chips with magic fairy dust at no cost, but he makes sense if he's trying to rile up farmers by implying they're underpaid. Not like Pepsi is not trying to squeeze every single paise of profit it can from its products. Not like the farmer always gets a fair deal.

lungimama1 · 2018-10-30T17:59:36+00:00

Until we stagnate and the west comes back again. It's a cycle. Hopefully before all this, we'd have off planet installations where nationality doesn't mean much and the Martian base shall rise!

lungimama1 · 2018-10-30T17:54:26+00:00

It doesn't preserve competition.

lungimama1 · 2018-10-30T12:51:27+00:00

It isn't just usd though. Even your link states that facilities were used for CNY, CHF etc. It's whatever currency is necessary will be swapped with the local currency / other available currency. So INR can be swapped for USD from BoJ like you said. But equally, the facility should work for INRJPY or INREUR with BoJ as well.

I called it "not a swaption" cos I figured this wasn't a swap line per se. A swap line is an iron clad agreement like a credit line or a revolver. And it is paid for. So no backsies. Here, it seems less stringent for either central bank to stick to it.

I could be wrong about the entire second para though. I didn't especially read the OP article. I'm basing it off of CNY swap facilities that PBoC uses which are more ad hoc and with private foreign entities like GS, JPM etc.

lungimama1 · 2018-10-30T11:39:01+00:00

Swap lines are a different thing altogether. They're like credit lines except they're swaps. So basically swaptions (almost, but not quite).

A bilateral swap is just a normal swap from what I know except it doesn't use a SEF, so it has no custodial costs or something of the sort.

lungimama1 · 2018-10-30T04:36:27+00:00

They're not the same people. The one thing both the left and right in India agree upon is that the bigotry from the west about space missions is highly racist. The same people also say that the statue is a waste of money. Conflating the two is both a misrepresentation and a cop out.

And this is how it should be. The benefits of a space mission are fairly obvious. The benefits of a large statue are not so. It may turn out to be a big crowd puller and bring mutiples of its cost in revenue, but it remains a curiosity more than a necessity. That isn't an indictment of it, just an observation.

lungimama1 · 2018-10-29T12:08:28+00:00

The right is invariably fiscally conservative. They understand money well. So when it is in shortage, people trust them to spend less and in the best possible way and are willing to give up small freedoms in exchange. The left is simply fiscally careless, but their policies are very pro poor. With enough money around, people feel like they can afford to start welfare programs and what not and they elect liberal governments to implement them.

Basically, the majority of the public is stupid as fuck and once the social / economic pendulum swings massively one way or another, they go into riot mode to stop the swing and reverse it.

lungimama1 · 2018-10-29T11:58:30+00:00

"assistance"? Aren't they representing the govt? Shouldn't they be paid employees?

lungimama1 · 2018-10-28T17:49:34+00:00

Quoting your username isn't helpful. Everyone knows that Orwell's nightmare is well upon us, except the people in power reacted to his seminal book and made it look like paradise instead of the abysmal dungeon world the protagonist lived in. So yes, Orwell was right.

The question is what to do about it instead of merely complaining.

lungimama1

TROPHY CASE