Thursday, January 9, 2014

Rogers on India's huge trade deficit

They've [India] got a huge balance of trade deficit and the three largest parts are oil, gold and cooking oil. They cannot do anything about oil or cooking oil, so they're attacking gold, blaming their problems on gold. 

Gold has not caused their problems, gold is a symptom of their problems, but politicians are pretty simple-minded people and they look for the easy answer.