The global credit crisis

I stumbled upon this primer on the credit crisis. I love the way the animated file explains the concept in a very lucid way.

Must see for beginners!

Insightful readings on the US downgrade

Here are some links to good readings on the recent downgrade of US Sovereign rating by Standard & Poor's.

Happy Reading!

The Basics

US Treasury's response to the downgrade

A good presentation on the situation

The big ERROR!

20 years of Economic Liberalization

All through my learning days, I have kept hearing and taking about the economic liberalization measures taken in 1991 by the then Finance Minister Dr. Manmohan Singh. I came across this piece, written by C Rangarajan (who was the Deputy Governor of RBI during 1991) that was published in The Financial Express in 2001, to mark the 10 years anniversary of "opening up" the economy. It is a fascinating article! Happy Reading.

As an aside, came across this paragraph from the budget speech of 1991 read out by Manmohan Singh:
Ever since my appointment as Finance Minister, I have had to spend long hours in office. This has quite naturally made my wife very unhappy. The House will agree that it is not good for the health of our economy if the Finance Minister of the country has strained relations with his own finance minister at home. I propose that the total exemption from payment of excise duty currently available to utensils made of aluminium, copper and stainless steel be extended to certain other household items particularly tiffin boxes.