Demonetisation: *sad trombone noise*

[🦀🎂🦀🎂]

http://www.bbc.co.uk/news/world-asia-india-41100610

[Lachi]

Who in anyone's mind would think this would be a good idea?

oh yeah, Modi apparently...

[jaichind]

Yeah, Modi keeps on moving the goal post as the results coming in invalidates the entire project and clearly has hurt the economy.  But politically it is a winner as it positions Modi as the campaign against corruption and black money. 

[Santander]

The North Indian diaspora still defend him.

[President Punxsutawney Phil]

this was a wise decision and will help India in the long run, quite potentially. That it should have been done with more preparation though is something impossible to deny.

[pikachu]

this was a wise decision and will help India in the long run, quite potentially. That it should have been done with more preparation though is something impossible to deny.

There's been no indication that this has been a good long-term decision; it's hardly done anything to solve the black money problem and formalize the underground economy. The changes were definitely not worth the short-term social and economic damage. That the Indian opposition to Modi has been so useless he's managed to come through is unscathed is really something.

[parochial boy]

The North Indian diaspora still defend him.

Yes. Yuck.

[OSR stands with Israel]

The North Indian diaspora still defend him.

Modi is still a way better PM than Singh .


Here is an  analogy:


Modi =  Thatcher
Singh = Callaghan

[OSR stands with Israel]

this was a wise decision and will help India in the long run, quite potentially. That it should have been done with more preparation though is something impossible to deny.

No they should have done Tax Reform , Regulatory Reform . Doing those things help clean up corruption a lot better than this .

[President Punxsutawney Phil]

this was a wise decision and will help India in the long run, quite potentially. That it should have been done with more preparation though is something impossible to deny.

No they should have done Tax Reform , Regulatory Reform . Doing those things help clean up corruption a lot better than this .

there are things Modi has done that are wise, and those that are unwise. But, one needs to realize the baseline is low to begin with, and how you can't transform India overnight. Even his new tax reform has a high level of nonuniformity...but it is still something.

[vanguard96]

Demonetization is an absolute "Evil Statist Move" (TM) especially in lesser developed countries where so many transactions are under the table - on the so-called "gray market".

Interestingly the other recent experience with it which was not cheered by many was in Venezuela.

Like in India it caught many wrong-footed and resulted in long lines.