𝑺𝒂𝒎𝒆𝒆𝒓 𝑷𝒉𝒂𝒍

It's better to write for self & have no public. Than to write for public & have no self ....

[𝑺𝒂𝒎𝒆𝒆𝒓 𝑷𝒉𝒂𝒍 @HereticGoan]

https://t.co/iLLJTkAJqV

A snippet of my presentation done in collaboration with @CNBCTV18News as a part of Nivesh Camp Panaji

[𝑺𝒂𝒎𝒆𝒆𝒓 𝑷𝒉𝒂𝒍 @HereticGoan]

@venkatananth @ajinkyarahane88 He is a class act, can't remember a better retirement message than the one he put out. His toughness under that calm demeanor is a rare asset. Thank you for bringing this player in my consideration before most had seen him

[𝑺𝒂𝒎𝒆𝒆𝒓 𝑷𝒉𝒂𝒍 @HereticGoan]

Surprised about not having seen an article by you on @ajinkyarahane88
Retirement, you have been his biggest supporter that I have known of, right from the start. @venkatananth

[Fundamental Investor ™ 🇮🇳 @FI_InvestIndia]

Bro shows us the Real Power of a Toothbrush 🔥🔥🥺😭😭

Hack of the Decade 💪

#FI

[InvestyWise by Groww @Investywise]

Colombia, Mexico and Sri Lanka imported $1.155B of Indian two- and three-wheelers in FY26, more than a quarter of the roughly $4B exported worldwide.

[Jugeshinder Robbie Singh @jugeshinder]

Panic over a 4.70% Treasury yield is pure comedy.
An entire generation of money managers got addicted to the 2008–2021 Fed liquidity drip. They think zero interest rates are normal. They aren't.
It was an artificial anomaly that subsidized lazy capital and lazy bankers.
Look at the actual data. From 1990 to 2008—the most stable era of modern growth—the average 10-Year yield was 5.68% (median at ~5.35%).
We aren't in a crisis; we are returning to historical sanity. Capital finally has a cost again. If your business model requires the central bank to manipulate liquidity just for you to survive, you don’t have a business—you have a charity case.
Easy mode is over. Welcome back to reality.

[desi mojito @desimojito]

Playing on repeat

[Ruby Arun रूबी अरुण @arunruby08]

वाह रे इंदौर की नकली प्लास्टर वाली पुलिस...
इंदौर में दो अपराधियों को किसी संगीन जुर्म में पकड़ा गया. जनता की मांग थी कि इनकी पिटाई की जाए और पब्लिक जुलूस निकाला जाए.
पुलिस और अपराधियों के बीच 20,000 रुपए में सौदा तय हुआ. दोनों अपराधियों के हाथ में नकली प्लास्टर लगा कर लंगड़ाते हुए सड़क पर घुमाया गया. जेल के अंदर ले जाने समय, जेल के गेट पर दोनों अपराधियों ने अपने हाथों में लगी फर्जी पट्टी उतार फेंकी.
किसी ने वीडियो बना लिया इसका. अब इंदौर पुलिस महकमे में हड़कंप मचा हुआ है.

[Uday Kotak @udaykotak]

Achilles heel for global finance is US bond yield. 10 year crossed 4.70% and 30 year 5.20%, despite Fed rates being on hold. The new Chair Kevin Warsh believes in smaller Fed balance sheet. That shrinks liquidity. Players may take note of the new conductor of markets symphony.

[Advait Arora @WealthEnrich]

Negative 10 Year Returns !

[The Khel India @TheKhelIndia]

MOMENT OF THE DAY FOR US! 🇮🇳🥹

Dilip Gavit & Mohammad Basil won the respective Gold & Silver in 100m T47🥇🥈

[Mufaddal Vohra @mufaddal_vohra]

ONE OF THE HIGHLIGHTS OF AJINKYA RAHANE’S PROLIFIC TEST CAREER. 🇮🇳

- India bowled out for 36 in the previous Test, Rahane took over as the captain from the next Test and smashed a brilliant Boxing Day Hundred.

India went on to win the BGT under him. 🥹

[Ritesh Jain @riteshmjn]

So India will also have few upcoming data centres.

👇👇👇👇

[Otavio (Tavi) Costa @TaviCosta]

You know something is fundamentally broken when yields surge and your currency can’t rally.

This is one of the defining macro signals of our time:

America’s debt burden is turning higher yields into evidence of fiscal stress.

None of us own enough hard assets.

https://t.co/L55287lL3Q

[Praveen Swami @praveenswami]

The man invented a whole new cheating technique to win a completely inconsequential local match. Imagine what he’d be willing to do if this was the World Cup final.

This is why White Master ruled the world.

[Abhishek Kothari 🇮🇳 @kothariabhishek]

#Forward

Cost of renting a 2 BHK house in #Mumbai per month

[Chanakya @ChanakyaShah]

Dainik Bhaskar journalist went undercover as a laborer in a flour mill in UP and exposed a rotten system that's playing with people's health.

Operators in mills across Agra, Firozabad are mixing stone powder from Rajasthan into atta, increasing their earnings by 70–80 paise per kg i.e. 7k-8k extra per day. These adulterated flour, sold under brands like Maharaja Bhog Atta, is even reaching school mid-day meals. These calcium carbonate can clog intestines and damage the liver and kidneys.

Being in the D2C industry, I'm aware of many brands who do these kinds of things just to save margins and make more money. We keep calling them out, but this looks much bigger.

Government and FSSAI need to act and take control. Consumer health should never be compromised for profit.

[Vikas Vij @TheClubJunto]

Why Gen Z Is Agitated

FY13 to FY23 Tax Return Data of Salaried Persons: Inflation-Adjusted Wage Growth in 10 Yrs (a) Below ₹10L: -21% (b) ₹10L to ₹50L: -39% (c) Above ₹50L: -46%; Purchasing power hugely down in 10 yrs; Nominal wage growth is flat.

Working Class: The Lost Decade

The Income Tax Return Statistics released by the I.T. Department for FY13 and FY23 reveal what is going on with salaried taxpayers in the last 10 years. Writer and journalist Monika Halan @monikahalan has published eye-opening data in her HT column today.

Definitions:

a. Nominal Wage = Wage Not Adjusted for Inflation

b. Real Wage = Inflation-Adjusted Wage (Real Purchasing Power)

Annual Inflation Rate from FY13 to FY23 (Ministry Data) is as follows:

Using CPI (MOSPI, Base 2024=100): Consumer Price Index (CPI) was 55.6 in March 2013 and 93.3 in March 2023. This means cumulative inflation of 68% over the decade (Inflation: 5.3% per year average).

FY13 to FY23

Income Below ₹10 Lakh PA
Nominal Wage Growth: +2.8%/yr
Inflation-adj Growth: -2.4%/yr
Real Change in 10 yrs: -21.5%

Income ₹10 Lakh to ₹50 Lakh PA
Nominal Wage Growth: +0.3%/yr
Inflation-adj Growth: -4.8%/yr
Real Change in 10 yrs: -38.7%

Income Above ₹50 Lakh P.A.
Nominal Wage Growth: -1.1%/yr
Inflation-adj Growth: -6.0%/yr
Real Change in 10 yrs: -46.4%

It Means: On average, if your annual salary was ₹1 cr in FY13, your nominal (on paper) salary in FY23 is ₹89L, and your real salary (adjusted for inflation @ 5.3% per year) is ₹53.6L.

For a salary earner on average:

High Income:
Purchasing Power is down 47%

Middle Income:
Purchasing Power is down 39%

Low Income:
Purchasing Power is down 21%

The low-income group (below ₹10 lakh p.a.) is the least hit in terms of wage stagnation and wage de-growth.

GDP Growth vs. Wage Growth

Question:

From FY13 to FY23, how the annual nominal GDP growth is around 11%, while annual nominal wage growth is only 2.8% for lower income, 0.3% (flat) for middle income, and -1% (negative) for higher income salaried individuals?

Answer:

a. Demographic Dividend: India adds roughly 1 crore young individuals to the working-age population every year. As these new workers join the formal economy, they add to the nation’s productivity (GDP), receive salaries, and become taxpayers.

b. Nearly all of the GDP growth (related to salaried employees) comes from more taxpayers entering the system rather than existing taxpayers earning substantially more within their income band.

c. Since labour supply is more than demand, the bargaining power of employers increases. As a result, the salaries of existing workers remain flat or negative.

d. So, India’s GDP growth story is a labour supply-driven growth story, and not a labour demand-driven (wage-growth driven) story.

e. Upward Mobility: Some smart or lucky individuals manage to move up the income bands through skill upgrades, job switching, etc. But the vast majority remain stuck within their band, and keep losing the inflation battle.

Gen Z’s Uncertain Future

a. India is not an export-led or manufacturing-led economy. India’s growth story is a domestic consumption growth story. But the massive “demographic dividend” which India enjoyed for so long is now ending. Nothing lasts forever.

b. India urgently needs to move from a labour-supply driven economy to real wage-growth driven economy. Otherwise, once the demographic tailwind ends in a few years, there will be no wage tailwind to replace it.

c. Economists like Dr. Arvind Subramanian @arvindsubraman and Dr. Raghuram Rajan have long said that consumption in India is broken. Now we know that’s because wage growth is broken.

ENDQUOTE

“Poverty is the parent of revolution.” – Aristotle, Politics: Book II (4th Century BC)

@arabicatrader

[Shiv Aroor @ShivAroor]

If you’re a sports fan and not watching 23-year-old Jadumani Singh’s amazing speed at the #CWG2026, you’re missing a lad who is possibly the most promising young fighter from the country. 🇮🇳

[The Kobeissi Letter @KobeissiLetter]

Absolutely incredible.

In an unprecedented move, South Korea's stock market just collapsed -44% in 40 days, erasing -$2 trillion in market cap.

Now, South Korea's finance ministry has announced plans to "stabilize" the market.

What is happening? Let us explain.

(a thread)