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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (6409)	5/14/2004 7:23:43 PM
From: Peter Joseph	Read Replies (1) \| Respond to of 116555

Government change. Some communist leaders opened their mouths and said that privatization of the PSU's will not continue. Indian markets down 9% for the day. ~$23 B in market value evaporates, poof. Coincidentally, this is the same number that the previous government proposed to raise from the markets in one year. Back to Socialism (not good). Less incentives & opportunities for foreign funds to come in and park. Uncertainty until the new government settles down. Dr. Manmohan Singh is tipped to become the finance minister. A very bright mind, he started the economic reforms in 1991. His nomination is days away from being finalized. This should be positive for the Indian markets.