Thursday, February 24, 2011

Statement of lifetime

Following is a statement from K V Kamath, one of the most respectable and experienced banker in India
We can't afford to raise interest rates any more.

The statement was said in an interview with economic times on 10 October 2010.

I have a tendency to keep statements of famous individuals in my blog noted down with the date when I feel the person is saying this due to his vested interest and I strongly disagree with his statement. As per my own understanding, the US Treasury yields bottomed (and not topped) in the second week of October. The lending rates in India has gone up by more than 150 basis points (1.5%) since this statement and I think there is more to come.

Earlier, I already noted down one of the statement from Mr Deepak Parekh of HDFC on May 5, 2010. Some of these statements might become famous along with the person just like the famous statement from Irving Fisher before the great depression
Stock prices have reached what looks like a permanently high plateau.
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