Fears of a global recession due to Russia's stubbornness

- Confusion of economics: Dhawal Mehta

- Sri Lankan economy crippled by lack of foreign exchange...

The year 2023 is bad

The events that are happening in the economic field of India and the world are not good only for India but also for the world's largest economic power, America. Recently, there has been a huge depreciation in the Indian rupee. In English, this is called depreciation of an Indian rupee. The price (value) of one dollar jumped the level of 82 rupees. On January 3, 2022, the price of one dollar was 74.26 rupees. Copenses says that the price of one dollar increased from 74.26 rupees to around 82 rupees, so we should be happy. But the logic is upside down. When India imports one dollar worth of goods, on January 3, 2022, it had to pay 74.26 rupees, but on September 26, 2022, it has to pay about 82 rupees for the same goods.

side effects

Indian manufacturing companies will also find it expensive to import their requirements. They will charge higher prices from us. Of course our exporters will benefit. Earlier, the Indian exporter used to get 74.26 rupees for the export of one dollar of goods, instead the Indian exporter will get 81.67 rupees, but to get that benefit, our trade surplus should be very big like China. Instead, we can very well say that our imports are 600 billion dollars against our exports of 400 billion dollars, that is, our trade deficit is 200 billion dollars. It is good that we have a waterfall of direct foreign capital investment and indirect institutional foreign capital investment! Otherwise our situation would be like Sri Lanka?

Foreign exchange

In 2021, India's foreign exchange reached an all-time high of $642, but now it has reached only $546 (about 10 months of import coverage). Many will remember that the lack of foreign exchange crippled Sri Lanka's economy and drove out its government.

Predictions of Nouriel Roubini

Noriel Ruby is a famous American economist. He and Raghuram Rajan, the brilliant former governor of the Reserve Bank, accurately predicted the financial crisis of 2008. Everyone laughed at him then but his prediction came true. The financial crisis of 2008 was created by America's fraudulent banking practices and caused unimaginable damage to the economy of all countries of the world.

America's deception and we suffer?

At present, Russia's Putin is doing similar destruction to the world economy. An independent democratic country would be attacked with such cheapness? If Russia didn't have nuclear weapons, America and Europe would have destroyed it. Balance of terror is running in the world right now. Rubin's prediction is as follows. (1) By the end of 2022, America and the world will be stuck in a long and ugly recession and it will continue in the year 2023. The current crisis is long-term. (2) The debt of American companies and the government has become monstrous. Now as interest rates rise, their servicing will become very heavy. Because of this, many banks, companies, families and countries will become zombies. The whole year of 2023 will be recession.