India Morning Report: Really, the failure of the food bill?

The Food Bill’s failure to carry the day for the shortest parliament year in history might bring out more ‘under the covers’ Welfare Economists like me and many ladies from colleges, schools and workplaces I have been. One odd part of the Food Bill argument post facto on NDTV was the reticence of known commentator Gurcharan Singh to link the idea of policy failures to grain lying waste in FCI and other storage nationally.  A seeming recurrence of other such arguments, the anchor was right in still feeling bothered by this denial ad these simple supply chain fractures cannot be allowed to be neglected for purely political fault lines that have long proven to be futile for the future of India, whether it is love for coalitions, BJP as alternative or change of form of government and Third and Fourth fronts of obscure policy which again succeeded for a welfare objective nosed in corruption

Importantly for the morning though, those who lost the pair trade were a little less inconvenienced by the banks trading higher as everyone agrees the private performers must, the sharp cuts in pre-open foretold of a failed section of the markets still looking to make a bear grip run for a few live hours to disturb the almost confirmed trade, a likely genesis of the recent spurt in flash crashes globally and rather unfortunate. 

Banknifty puts should pay out well at the end of the month and one should not get too greedy in raising put strikes too fast, so it is the right time to pick up a few short straddles / strangles for keep around 6100 skewed by the multiple for the short puts ( your leg long on the market)  and if you fund it further with short calls as hedges you should choose those beyond 6400, i would be vary of being stuck with a 6300 call short right now.

When markets successfully consolidate, the volatility gap to any target peak leaves them considerable room for quicker faster rewards till they even reach for a asset bubble and then extend the wrong way down) equity investors’ profit taking in the first 5 months including December’s latter two weeks of global holiday has been muted despite funds portraying it as a short sign almost for managers’ hands waiting for fresh infusions and the second half of the year will build the next local inflows that gross up into the buying frenzy to be as LIC and even other insurance funds come for their share of bargain buying made possible at these levels by some really perfect design (dessicated and elongated into another 5 years since 2008).

Some of our renowned Economic authors either due to their own perverse aforethought (being an MBA makes me also feel ‘collicky’ / syrupy or about having believed in the author in question in his earlier corporate life) or a habitual coasting to prefabricated DNA of the argument or policy made me begin this simple daily report for Thursday. The show on NDTV was anchored by Sonia Singh and though the author in question is perhaps a greater practitioner than William Bissell (Fab India )

Gurcharan Das’ tomes of the last few years  have recently stopped being MBA strategy and become Economic thought stirring India visions. However, though I would not be commenting on his writings and have not implied any in the previous sentences, the show caught him on the wrong foot and despite being of the same/similar genealogy, and having held him in great esteem for his experience, I felt stunted for listening to this argument.

The not usually required introduction herein also probably underscores that I am not ready to be a raving rant in my Morning Report. Also I found it in his voice that he had failed when he let loose an uncharacteristic rant on the Congress Government. Man’s ideals are sure misplaced engines of convenience.

Also, it is naive to assume one can keep shouting about free market ideals as response to realpolitik especially given the engagement offered by media today.

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