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One Step Forward Two Steps Back

October 8, 2008

Here’s the picture of good old days of not so distant past, of Jan 2008. Everyone was predicting the Sensex to reach 25,000 by the year end. Dollar had dropped from Rs. 44 to Rs. 39 something and economists was predicting it would trade at below Rs. 35 during the year. Oil was expected to touch $200/barrel and Indian economy was expected to grow at 9%.

Just 9 months down the line we are witnessing one of the biggest crashes. Today Sensex traded below 11,000 during the day, recovering 500 points by the end of the day today. The Dollar hit the six year high of above Rs. 49 before stopping at Rs. 48 something. Oil is at $89/barrel, and it will be lucky if Indian economy will hit 7% growth (already voices are forecasting 5-6% growth, which per se is not bad but then again…).

So, here my WTF rant. How could the “experts” be SO F***ing wrong? I mean the ridiculousness of their predictions is so bloody apparent it is not funny any more. Many theories are floating around but the question is why didn’t the experts see it coming?

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3 Comments leave one →
  1. October 9, 2008 5:56 pm

    hii nice bloggg keep it up…

    from

    http://www.msptalks.blogspot.com

  2. Quirky Indian permalink
    October 10, 2008 10:53 am

    Well, it was a thousand points down this morning and has recovered slightly since then. Bad times. And I ask this all the time – how could they not see this coming? I remember talking about this a year ago and being laughed at!

    Btw, isn’t the I-phone a great tool?

    Cheers,
    Quirky Indian
    http://quirkyindian.wordpress.com

  3. lifeofhues permalink*
    October 10, 2008 1:20 pm

    The index is down again by 1000 points after recovering during the day. Shit is absolutely hitting the roof!!! Expecting below 10K soon as per analysts.

    Yup, iPhone is just great. I recently tried to use another phone and missed the BIG screen and the cool user interface :-).

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