In December of 1930 Bank of United States (BOUS), based primarily in the city of New York failed. It was the first bank failure in the USA during the great depression which started in Oct 1929.
We estimate Central Fiscal Deficit for April-June 2017 quarter for India to be at approximately 10.75% of the GDP of that quarter. This is because of planned increase in capital expenditure by the central government in that quarter. To maintain the preannounced target of 3.20% of GDP for fiscal deficit for the year April 2017 till March 2018, the deficit for the nine-month period July 2017 till March 2018 should not significantly exceed 0.75% of GDP of that period.
In one of my previous write ups, I sketched the most likely scenario of India facing deflation pretty soon. In this write up, I will describe various responses that RBI should have to have for this emerging black swan event. (Black Swan as far as markets and policy makers are concerned.
Nearly all futurists, who think about technology, agree that singularity is between half a generation to two generations away from today. Most of them, except notably Ray Kurtzweil, think that a superintelligent AI will be as indifferent to the needs and aspirations of humans just the way we humans are indifferent to those of ants.
In my blog report published on the website of Decimal Point Analytics on 14th March 2011, I had posited that Jasmine Revolution (Arab Spring) is indicative of slow emergence of collective human consciousness, enabled by the Internet, while the problems in the Eurozone currency area at that time are indicative of the fact that our collective consciousness is not at the same level as that of a colony of honeybee.