Demonetisation and its Aftermath

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blr_p said:
its clear notes ban isn't responsible, something else is...
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So now the narrative changes from 'it was a destructive, disastrous waste of public time, money and life' to 'it didn't really have any effect on anything', sweeping it under the rug. Might as well deny the holocaust too while you're at it. Sometimes i wonder if you aren't just a friggin skilled and ultra-sneaky PR agent for the bhajapa.
 
Julian said:
So now the narrative changes from 'it was a destructive, disastrous waste of public time, money and life' to 'it didn't really have any effect on anything', sweeping it under the rug. Might as well deny the holocaust too while you're at it. Sometimes i wonder if you aren't just a friggin skilled and ultra-sneaky PR agent for the bhajapa.
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You have an argument that amounts to more than inconvenience ?
 
Inconvenience for you and me maybe, not for millions who REALLY suffered due to this.

But hey, what do i know, why not ask like everyone else in the country who now realise it was a terrible decision. I'm sure by the next election, the PR wagon, supported by the likes of you will whitewash the negative impact of this and every other crap thing they've done out of existence....
 
I'm using one shot to hit ruling & opposition party. Both are exaggerating the extent

I don't know how you assess the impact positive or negative here. Only people interested in that are ruling and opposition.

The economy is too complicated to isolate one action and then attribute. Affecting growth rate, there is all sorts of talk there

It didn't serve the stated objective is the easiest way to assess. It was a political stunt
 
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blr_p said:
I don't know how you assess the impact positive or negative here.

The economy is too complicated to isolate one action and then attribute.
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You should stick to the bold part. You dont know. Infact you know very little of anything except yapping over things you dont know ;)

Its pretty easy to see the impact. Take charts of data from 6 quarters before , during and 6 quarters after Demonatization and you will know. Literally simple work on excel. Almost any informal sector and labour intensive sector was almost killed if not completely wiped out. Areas where india used to export got hit so bad they probably will never recover. These areas then got hit by GST and they're almost dead. Thats why our exports are lowest in 11 YEARS.

But ofcourse, dont let me come in the way of you peddling the "WE WILL NEVER KNOW" nonsense. 200 people dead, whole sectors killed, exports killed, farmers killed, GDP killed. BUT WE WILL NEVER KNOW if demonatization was a failure, cause bhakts are blind when it comes to the failure of their dicktator.

Modi bhakti is indeed an amazing thing. How does a man so stupid command such bhakti? Guess thats the reason he never does interviews. Don't want to break the illusion.
 
Party Monger said:
You should stick to the bold part. You dont know. Infact you know very little of anything except yapping over things you dont know ;)
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your opinion :D

Its pretty easy to see the impact. Take charts of data from 6 quarters before , during and 6 quarters after Demonatization and you will know. Literally simple work on excel. Almost any informal sector and labour intensive sector was almost killed if not completely wiped out. Areas where india used to export got hit so bad they probably will never recover. These areas then got hit by GST and they're almost dead. Thats why our exports are lowest in 11 YEARS.
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Which is it ? almost, probably heh this is what i mean. That the last 6 quarters of economic performance for the entire country can be solely attributed to notes ban. Is that your contention ?

I've heard more dire consequences than the above which is where my pushback comes from

By Crimping black money its affecting supply of white money ? that make any sense

Are we out of the woods yet or are more negatives going to be piled on here by the opposition

But ofcourse, dont let me come in the way of you peddling the "WE WILL NEVER KNOW" nonsense. 200 people dead, whole sectors killed, exports killed, farmers killed, GDP killed. BUT WE WILL NEVER KNOW if demonatization was a failure, cause bhakts are blind when it comes to the failure of their dicktator.

Modi bhakti is indeed an amazing thing. How does a man so stupid command such bhakti? Guess thats the reason he never does interviews. Don't want to break the illusion.
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Supporters are saying notes ban DID cut down on black money. I'm not into simplistic binaries which is the fashion these days apparently

I said the effects positive or negative are exaggerated. some sectors get hit harder than others, so what. They will recover. Where else is the informal sector going to go ?

I was never in favour of this move to begin with
 
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Doesn't matter if you supported it or not. That's opinion. Facts, however, are different. They will be recorded in history. Of course the bhajapa wants to rewrite books as they see fit too. Hence my holocaust denial jibe.

Anyway, it goes like this. Things were going good. Growing even. Then BAM! demon... And everyone got screwed. But informal and small sectors were devastated. Now you want to argue that it was something else. Maybe some inauspicious comet passing overhead? :rolleyes:
 
Economy is complicated. Where is the consideration for other factors. Just black and white for you. If PSB's are in trouble then lending must have slowed and not just yesterday. What effect does that have

Holocaust denial, lol and you accuse the BJP of being a PR machine ?
 
Why is this so difficult for you to understand?

The only major event before everything went to sh!t was the demon... So obviously that was the major, if not only, factor right? Yet you want to find a flying elephant to blame for this? It's the simplest and obvious reason, but you're desperate to find something else to fault.
 
^^ exactly. and not just ethically, it's probably also constitutionally wrong. some dude's claim that a 'surprise move' will take care of black money doesn't allow a govt. to cause hardships to the entire country's populace by removing money in their hands from circulation in an extremely 'inconvenient' way, but after that also depriving them from access to it? rationing their own savings when they want to withdraw it? if only this was a real democracy, it would have been outlawed before it could be implemented. we may not all agree with it, but the concept of the US 2nd amendment is crucial. its primary objective is to resist an oppressive federal govt. keeping guns for fun is secondary.

trump may come up with a lot of crazy sh!t but congress and the SC does catch the worst of it. they're not perfect but that country is a decent example of a semblance of democracy, liberty and freedom.
 
Julian said:
Why is this so difficult for you to understand?

The only major event before everything went to sh!t was the demon... So obviously that was the major, if not only, factor right?
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Its a factor, how major is an open question ?

People are coming with all sorts of reasons to add to that major

Yet you want to find a flying elephant to blame for this? It's the simplest and obvious reason, but you're desperate to find something else to fault.
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I don't find it productive as both sides are trying to score points here without any basis

I don't need 100% correct answer but something that gives even or better than even confidence makes for a more defendeble position. neither side has that
 
Julian said:
^^ exactly. and not just ethically, it's probably also constitutionally wrong. some dude's claim that a 'surprise move' will take care of black money doesn't allow a govt. to cause hardships to the entire country's populace by removing money in their hands from circulation in an extremely 'inconvenient' way, but after that also depriving them from access to it? rationing their own savings when they want to withdraw it? if only this was a real democracy, it would have been outlawed before it could be implemented. we may not all agree with it, but the concept of the US 2nd amendment is crucial. its primary objective is to resist an oppressive federal govt. keeping guns for fun is secondary.

trump may come up with a lot of crazy sh!t but congress and the SC does catch the worst of it. they're not perfect but that country is a decent example of a semblance of democracy, liberty and freedom.
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Add to that.. demonetization set back the GDP growth rate by 2% (as predicted by MMS.. remember!!) which in turn translates to a loss of 3.3Lakh Crore. That is the enormity of loss the country had to suffer because of some stupid person holding the highest office, who has got no clue of economics or governance for that matter made some stupid decisions. Modi probably might've been seeing some bollywood masala film from where he drew such inspiration:facepalm: God only knows what dumb thing he is gonna do next for showmanship. Probably might depend on the movies he sees next:banghead:
People say its all because of his lack of education.. but if he at least had the commonsense to realize that.. i only wish:(
 
aok said:
Add to that.. demonetization set back the GDP growth rate by 2% (as predicted by MMS.. remember!!) which in turn translates to a loss of 3.3Lakh Crore. That is the enormity of loss the country had to suffer because of some stupid person holding the highest office, who has got no clue of economics or governance for that matter made some stupid decisions.
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This is exactly the sort of opposition rhetoric i'm ignoring.

MMS ? are you kidding me. You ask the opposition for an opinion about the ruling party and what do you think they will tell you :D

End of the day realise this govt is going to be judged on economic performance. If they screw up they are done for. It's not clear they have. Some bad decisions, lack of assertiveness when they had a majority but nothing as disastrous as the opposition claims
 
blr_p forgot that innocent people died waiting in lines to get their own money. what do you call people dying needlessly for some idiot persons ego? any word for that in your dictionary? no matter if you think it did not make an impact, it made an impact on the dead people's families. They didn't even get any compensation from state or central govt. Modi and the RBI governor should be charged with murder imo. hell with the bjp apologists who say demonetization did not make any effect.
 
blr_p said:
This is exactly the sort of opposition rhetoric i'm ignoring.

MMS ? are you kidding me. You ask the opposition for an opinion about the ruling party and what do you think they will tell you :D
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My point was demonetization set back the GDP growth rate by 2% which means a loss of 3.3 Lakh Crore.
I just referred to MMS because he is a renowned economist (unlike Modi) and he predicted a growth rate slump of 2%. And it ACTUALLY happened.

https://www.huffingtonpost.in/2017/...h-prediction-after-demonetisation_a_23193098/
 
6pack said:
blr_p forgot that innocent people died waiting in lines to get their own money. what do you call people dying needlessly for some idiot persons ego? any word for that in your dictionary? no matter if you think it did not make an impact, it made an impact on the dead people's families. They didn't even get any compensation from state or central govt. Modi and the RBI governor should be charged with murder imo. hell with the bjp apologists who say demonetization did not make any effect.
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I remember asking these same questions to some bhakths.. and I was appalled hearing them referring to those deaths as some minor Collateral Damage.. and that such deaths happen all the while in India and so on... I have to concur with what I read else where in TE. These people deserve this Govt..!! let us all rot and die.. and in our last breath.. whisper.. 'All hail Modi'.
 
aok said:
My point was demonetization set back the GDP growth rate by 2% which means a loss of 3.3 Lakh Crore.
I just referred to MMS because he is a renowned economist (unlike Modi) and he predicted a growth rate slump of 2%. And it ACTUALLY happened.

https://www.huffingtonpost.in/2017/...h-prediction-after-demonetisation_a_23193098/
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From back in Sept 2017

https://blogs.timesofindia.indiatimes.com/Swaminomics/why-demo-gst-are-not-to-blame-for-slowdown/

Opposition parties have blamed demonetisation (or DeMo).The government blames pre-GST disruptions. These are distractions. The biggest problem is export stagnation for three years. No country in history has sustained 7% GDP growth for a decade without export growth of at least 15%
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DeMo hit GDP in the October-December and January-March quarters. But its impact must have fallen by April-June, while GDP slowed even more. Note, GDP slowed for almost three quarters before DeMo. Other factors were at work, mainly export stagnation.
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Happy ?
 
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If only Modi had shown same courage & privatized 100% of Air India,BSNL,MTNL & all loss making public sector banks currently in RBI watch list along with allowing 100% FDI in retail that would have been much better for overall growth of Indian economy in long term.
 
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