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    Creative Commons License
    Rabble Rousing Random Ramblings by S Jagadish is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported License.

    May 17, 2004

    Thanks to the loony Left and the cretinous commies, the BSE Sensex went into free-fall this morning, slipping by more than 10% from the previous close of 5020. For a while I thought the BSE Sensex had declared a stock split, prices were in that kind of tumble-down mode.

    Over Rs. 200,000 crores is supposed to have been lost (or gained, depending on whether you pulled out early enough or not) and it is all mainly attributed to the noises made by comrades like Harkishen Singh Surjeet, Sitaram Yechuri, Jyoti Basu, AB Bardhan, Somnath Chatterjee etc. on matters of disinvestment & economic reforms to be pursued by the new Congress-led government. The standard line of the left parties on economic issues seems to be that the reforms and disinvestment processes are causing hardship for the common man. They dont realize that in the Rs. 200,000 crores lost at the market today (and a few more last week), a lot of that money was that of hard-working middle/lower middle class people, the common man, who invested part of his savings in "safe" companies like those from Reliance, Tata, Birla etc. After causing all this mayhem, the left parties decided not to be part of the government, ostensibly to ensure that the space of opposition was not granted to the BJP and its allies. Basically it is to ensure that they have the right to make a lot of noise on all matters of economic importance which aren't acceptable to them.

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