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IMF, WORLD BANK, AND UNO should come together to form a economic council of non political economists and hand over that countrys economy for 5 years. Under this condition and with humanitarian grounds should send essential supplies , distribute under rationing system to that country. This is a must for world stability, control unrest, terrorism, etc. since such news, country is being studied by bad elements including ISIS.
USA always play foul when it comes to Oil Consumption or control over Oil reserves. India can always try to take advantage of the situation. The Barter system (Food in replacement of Oil.) This will not be acceptable to the Giant of the world. We need to grow in size to take advantage of the situation globally. And it starts from us as an individual.
Expect another crash in equity markets and shocks . Advisors will say, invest more for long term. May be Be in 2017 another economy will crash. Now its true For sure there is more uncertainty as far as investments Are concerned.
This is a clear example of how reckless subsidies and freebies by a Government can bring the whole country at the brink of disaster. I fee our present and future Governments (Central and State) of India should draw lesson!
Why cant India take advantage of this situation? Since , we are net importers of Crude Oil , cant we enter into contract to import crude oil from Venezuela against export of food grains( not dollars ). This is my personal view.
First time I view this platform. This is very informatics & knowledgeable.