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Ambani vs Ambani: RIL's affidavits
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Meghnad Desai
The financial crisis and the real economy recession have now been with us for months. Tremendous mountains of asset values have been wiped out.
There was a strike on Wednesday. I gather the worst hit states were the Left governed ones. So this is a sort of political self-mutilation. I suspect the parties in power are chalking that up as a triumph and will trumpet it at their next meeting.
George Soros has said this is the most serious crisis since 1929. He may be right or he may have merely shorted the market and is hoping his prophecy will yield profits. In 1929, the stock market crash did not immediately bring depression. It took the next...
