Some silver linings

As the storm clouds gather over the economy, is there a silver lining? Yes — more than one. To see them, we have to stop looking in the rear-view mirror at all the accumulated problems and negative trends, and focus on current trends. Take oil prices, which have fallen more sharply than the rupee has dipped; Brent crude is now below $100 per barrel, down from a March peak of $126 — a 20 per cent drop in 10 weeks. Other than a brief point in October, the last time oil was this low was in early 2011. In all but three months in the last financial year, oil was ruling at more than $110.

Read Full Story>>