Some report from Barclays Bank says that inflation will reach 17% in India. A former economist says one of the big bank is in big time trouble and is expected to declare bankruptcy in next 3 months or so.

Taking cues from the global markets, the sensex is more tanking and if you ask the traders there is no activity at all as everyone is squaring too quickly.

Real Estate activity has cooled off, small builders are facing the interest burden and are not able to offload their inventory. Banks have started financing new products,..like the iphone in India.

It is a recession card played everywhere. Real test of the inflationary pressure will be seen during Diwali festival time and thats a checkpoint for real estate prices too.