Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do.

There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Tuesday, 12 March 2002

NEVER A LENDER BE !

Here are ”Sovereign debt as a percentage of GDP “figures for various countries, as provided by Times of India (July 15,2011):

  • Japan   ………………….  220  %

  • Greece   ………………..  142  %

  • Italy   …………………….. 119  %

  • Russia   ………………….. 99   %

  • Ireland   …………………  96.1 %

  • USA  ………………………… 91.6 %

  • France  …………………….. 84.3 %

  • Canada  ……………………  84  %

  • Portugal  …………………… 83.3 %

  • Germany  …………………  80  %

  • UK  ……………………………. 77.2 %

  • India  ……………………….. 69.2  %

  • Brazil   …………………………66.1  %

  • Spain  ………………………….60.1 %

  • Taiwan  ……………………… 39.7  %

  • S.Korea  ………………………30.9 %

  • S.Africa ……………………….35.7 %

  • China  ……………………….  17.7  %

Greece just managed to avoid a default of re-payments to its private creditors by getting them to ” agree “ to write-off  59 % of the debt !

Greece might have escaped going bankrupt by the skin of its teeth

Question is :

Will others be equally lucky ? Will the world see a financial meltdown ?  Or , is it only a question of when ?

Lenders , beware ! By lending recklessly ,you have become, the enemy # 1

With regards


HEMEN  PAREKH