Good analysis, Bob. You might want to add inflation fears (due to increasing food price and gas @ $110) and crash of the Indian financial institutions following devaluing of the real estate, when people will give away their houses to the bank if they owe more on it compared to what the house will be worth (for those who actually paid all white and took the loan from the banks). Thinking about it, most individuals do not do that and use 50 to 60% black. Hence this might be a blessing in disguise and will sustain the real estate market. But after reading your point, I still did not get how you are blaming the feds and P chitamb. for the situation. Sensex at 21K was not because of him but due to his policies (good ones at that) that brought FIIs and FDIs in the country. Now, if FFIIs are pulling out, why is it his fault? Anuj
