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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>David Dayen</author_name><author_url>https://www.nakedcapitalism.com/author/david-dayen</author_url><title>Jayati Ghosh: None of the Experts Saw India&#x2019;s Debt Bubble Coming. Sound Familiar? | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="9hRUbo3dEw"&gt;&lt;a href="https://www.nakedcapitalism.com/2013/08/jayati-ghosh-none-of-the-experts-saw-indias-debt-bubble-coming-sound-familiar.html"&gt;Jayati Ghosh: None of the Experts Saw India&#x2019;s Debt Bubble Coming. Sound Familiar?&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2013/08/jayati-ghosh-none-of-the-experts-saw-indias-debt-bubble-coming-sound-familiar.html/embed#?secret=9hRUbo3dEw" width="600" height="338" title="&#x201C;Jayati Ghosh: None of the Experts Saw India&#x2019;s Debt Bubble Coming. Sound Familiar?&#x201D; &#x2014; naked capitalism" data-secret="9hRUbo3dEw" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>So now India is the latest casualty among emerging economies. Over the past 10 days, the rupee has slid to its lowest-ever rate, and the Indian economy may well be on the verge of a full-blown currency crisis. In this febrile situation, it is open season for rumours and pessimistic predictions, which then become self-fulfilling.  This means that even if there is a slight market rally, investors quickly work themselves into even more gloom. Each hurriedly announced policy measure (raising duties on gold imports, some controls on capital outflows, liberalising rules for capital inflows and so on) has had the opposite of the desired effect. Everything the government does seems to be too little, too late &#x2013; or even counterproductive.</description></oembed>

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