Some food for thought
"If I can't have too many truffles, I'll do without
truffles."
–Sidonie Gabrielle Colette (French Novelist, 1873-1954)
Word for the day
Assimilation (n)
The process of adapting or adjusting to the culture of a group or
nation, or the state of being so adapted.
First thought this morning
Without faith we have no hope, and without faith we stubble
through life in the dark.
Reportedly (see
here), National Statistical Commission (NSC) Acting Chairperson PC Mohanan
resigned from his post on Monday, 28 January. He alleged that the government is
withholding the National Sample Survey Organistaion’s (NSSO's) Annual Survey on
employment and unemployment for the year 2017-2018. This survey is the first
one after demonetization and palpably sheds some light on the impact of
demonetization on employment conditions.
I would not like to comment on the authenticity or otherwise of
the report or the allegation. Nonetheless, one thing is certain - it does
further diminish the faith of people in institutions. We have recently seen
faith of common people in key institutions like Supreme Court, Election
Commission, CBI & other investigating agencies, et al vacillating
violently.
The most unfortunate part is that the incumbent governments (at
center and states) appear complicit in this whole endeavor to undermine the
people's faith in institutions and the democratic traditions.
In financial market parlance too, many of the recent events have
led to the dissipation of investor's faith in critical factors like credit
rating, auditing, corporate governance (esp independence of independent
directors), due diligence capabilities (and intentions) of lenders and fund
managers, etc.
Incidents involving top rated corporate like IL&FS, DHFL,
Essel Group, Sun Pharma, etc. threaten to turn the entire investment process
into "shooting in the dark".
Not a happy situation, for sure.
Chart of Day
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