The stock-market crash of 1929 was fuelled by over-speculation,insider-trading,falsification of corporate accounts and massive default of bank loans by corporates.
In India today a similiar situation prevails.Even though consumer spending is declining and corporates are retrenching employees,the stock indices are rising to dizzy heights.It is obvious that the markets are rigged to attract FIIs and other gullible speculators to invest their funds in stocks.This will only jeopardize the hard-earned savings of the overseas investors.
The inevitable crash will make the 1929 crash look like a joke.
In India today a similiar situation prevails.Even though consumer spending is declining and corporates are retrenching employees,the stock indices are rising to dizzy heights.It is obvious that the markets are rigged to attract FIIs and other gullible speculators to invest their funds in stocks.This will only jeopardize the hard-earned savings of the overseas investors.
The inevitable crash will make the 1929 crash look like a joke.
No comments:
Post a Comment