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$300 bn in Six days – Stock Market bubble bursts in to the purses of Middile Class Yuppies!!

Posted by newscap on January 21, 2008

Last year saw waves of huge influx of foreign funds, which accounted not for material movement, in to Indian Stock market. Because of which Indian comprador capitalist found a windfall at their hands. This highly speculative bubble economy, a true synonym of gambling, really caused more trouble to the common people. Right from the job losses and national economy break down due to currency appreciation to the price rise aka inflation rate.

Though the entire scenario should be perceived as part of the world fund crisis a byproduct of Housing loan crisis in USA, the middle class yuppies encouraged by the quick money they earned from the bull driven economy invested their money in to the stock market to stack more quick bugs in to their account. But alas… the drama is over. Now the Capital crisis has bitten the middle class yuppie’s purses.

it is worth considering the fact that last week saw a huge influx of local capital in to stock market to maintain the stock market floating high.

For more on the fall of Indian Stock market:

Investors lose over $300 bn in six days

Newscap

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