Thread: 700 billion dollars bailout bill fails

Just found out that house of reps in USA have rejected the $700 billion to bail out the US economy.

The much talked about Bush plan has gone down the drain

This is not good news ... atleast those who have studied a bit of macro economics would agree.

In USA where economy has already taken a big hit and the markets are down by a lot this news will bring the stock markets crashing down all over the world and more so in USA.

What do you guys thing ... Is India going to suffer too much and would our growth rate take a big hit due to the current situation?


I know my income will go down in the time to come.

well this will definitely create problems for us in india as well

No doubt that if this bill doesnt pass in the second vote we here in India will also face the heat There is no escape.

Lot of call centres will have to shut shop besides a lot of other stuff. It is unimaginable ... US economy is in deep s**t

I understand this will hit our economy too but still we are bit stable now so really need not to worry that much

and admin don't worry, we all will take care of forum and stats and will not let you down mate

See no country is imune to this problem ... If USA's economy goes down all the countries who are trading with US will see the effect on their economies... I agree India is not that heavily dependent on USA but we do trade with other countries and if demand goes down globally what would keep India afloat when every other ship would start sinking?

I am just hoping that this phase passes quickly and we set sail on the path to prosperity very soon

I am hoping that this crisis doesnt last longer then one year ... but by the looks of it this crisis will have a very long lasting effect on the world economies and if you look at it from India's perspective the picture looks very ugly

Actually India 's Condition is way better than some other countries....And AID to other countries is also going to decrease drastically from the U.S it seems....Well there is also an other side to that coin .... If U.S bailed out the economy ...That bill would have given a lot of power to the US over the economy .... That could be equally worrying .....

Well anyways If Barack Obama Comes to power Call centers have to shut shop ....And migrants will have to go thru more trouble

Its not possible for any government in USA to stop companies from outsourcing. Its not just about jobs... USA will loose competetiveness in the IT services sector and all other industries where work is outsourced right now but the sale of the end product takes place out of USA and who gets all that revenue? Outsourcing staff is paid peanuts although they are not getting monkeys for those peanuts and they are still complaining.

India is unstoppable and India is the need of the hour to cut costs in everything that USA sells and even EU.

Did you not notice the arm twisting that happened recently to get India an NSG waiver? India can live without the technologies which we were denied for the last 30 years but USA and other developed countries cannot live without the markets India has to offer.

Keep a watch at the retail sector and the pace at which it is growing.

EU and USA dont wanna loose out on the India growth story which is about to happen.
Let this economic turmoil pass by and see what pace India grows at

Hey , i agree with you ... Even the Uk Universities rely on the finance from Indian/Chinese students for its survival ... But still it did not stop The govt from bringing into effect the stupid anti-migration rules ...

have you noticed that of late countries like U.S are blaming Indian migrants for American Unemployment .... Obama Is harping on this issue ....Sure if they close their doors its they who r going to be the sufferers .... But they dont seem to realize/care ...As you very well know Obama's policies have been very migrant unfriendly .....He even proposes to drastically reduce the H1B visas ...as if Americans are doing Charity by letting these brilliant guys work for them ....


US and EU corporates dont wanna lose out on the Indian growth story ... but the govt are simply playing politics

And are you aware that there has been a recent surge in Ku Klux Clan membership ? Heard it from a friend there ....

UK is a different place then USA.. UK has got too many people coming in from other EU countries since they opened doors but for USA migration from countries like India is a gods gift of its own kind.. The best of the best in India move to USA and for years have been helping that country grow in every sphere.

There are a number of reasons why USA cant stop outsourcing or even make it difficult for companies and same goes for H1b visas and migrants aswell :

Doing this will make it difficult for companies to do business and will make their products costlier and uncompetitive for the international markets so this will hit exports in the long run. Both migrants and outsourcing means cheaper products for USA... What do you say can America afford to make it difficult for companies to stay in business?? well ease of doing business and economic freedom is the main thing which has made USA so strong which it still is.

Companies will find it hard to get the workforce they need if migration is stopped and then instead of staying in USA they will start moving to countries like India slowly to benefit from cheap labor and raw material and talant as we all know is what India has been churning out all these years thats what every one is after and if these guys are stopped from entering USA where would they go? Stay in India work for less money and attract more companies to India and set up businesses here This would in turn create more employment in India and rev up the already fast growth rate

There are so many things which needs to be taken care of .... Obama is fooling American people... an its all good for India

Go Obama go ... I would love to see you become the President of USA and see if you can really stop outsourcing
Outsourcing or no outsourcing... India is in a win win situation atleast for the next 30-50 years and thats all we need to catch up with the developed world.

In 20 years time I would love to see Americans queuing up at the Indian embassy at New york to get workpermits so they can work in India for some time.

If Obama does manages to impliment his ideas (assuming what he says in his speaches is what he believes in) this will not take 20 years ... may be 15... may be even 10.

Originally Posted by ShAdOwCoN

And are you aware that there has been a recent surge in Ku Klux Clan membership ? Heard it from a friend there ....

Vinash Kale Vipreet budhi

The impact of this is very clear on Indian Market, Today in the early phase market felled for more that 700 points but recovered somehow and closed at 12800 something points

You can easily imagine the heat.