By Sanjeev Oak As the United States approaches its presidential elections, the race is heating up between Republican candidate Donald Trump and Democrat contender Kamala Harris. Polls suggest Trump has a stronger chance of winning, but Harris remains a formidable opponent with equal footing in public opinion surveys. For India, the stakes are high, and a victory for Trump, known …
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The Illusion of America’s System
By Sanjeev Oak The United States, often regarded as the savior of the world, has revealed its hollowness during the collapse of Silicon Valley Bank—a debacle that exposed the fragility of its much-touted financial system. The global economy witnessed the cracks in America’s banking sector, marking a repeat of the 2008 financial crisis. Here’s an analysis of the situation. A …
Read More »Bankruptcy Averted, but Recession Looms
By Sanjeev Oak While the immediate threat of a U.S. default has been temporarily averted, the specter of recession continues to cloud the economic horizon. Recent data reveals a meager growth rate of just 1.1% for the U.S. economy, with consecutive quarterly declines further signaling economic distress. In Europe, Germany has officially slipped into a recession, and the broader European …
Read More »Big Banks in America Are Thriving Amid Crisis
Regional banks in the United States are grappling with financial turmoil, raising existential concerns. Meanwhile, larger banks appear to be capitalizing on this crisis, effortlessly acquiring and merging with struggling smaller banks. By Sanjeev Oak Imagine if such events transpired in India. Suppose a small cooperative bank operating within a single state faced difficulties on Monday. By Tuesday, crowds would …
Read More »U.S. Credit Rating Downgraded
By Sanjeev Oak For the first time since 2011, Fitch Ratings has downgraded the United States’ long-term credit rating from AAA to AA+. This decision has sparked a global debate, drawing sharp criticism from U.S. Treasury Secretary Janet Yellen and skepticism from JP Morgan CEO Jamie Dimon. The downgrade also sent ripples through global markets, including India’s stock exchange, highlighting …
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