Arshad Shaikh studies the rise of credit card usage in India. The latest RBI data shows a surge in payments for purchases using credit cards. While it is being touted as a sign of economic recovery after the pandemic, the flip side to such overzealous spending usually leads to a debt trap with the cardholder ending up paying enormous sums in interest payment to the card company. Credit card usage encourages personal debt and reduces savings. Many get addicted to spending beyond their means and buying things they do not need. They become easy prey for banks and credit card firms – the new loan sharks in the market.

Arshad Shaikh discusses the ethical aspect of short selling in the stock market. The spectacular collapse in the market capitalisation of the Adani Empire after the publication of a report by Hindenburg Research, exposing the group’s alleged malpractices put the spotlight on the practice of short selling in the equity market as Hindenburg is a self-confessed short seller. However, the current debate on the Adani-Hindenburg story is confined to the intentions of the report (how it is a conspiracy to belittle India’s growth story), the role of regulators and short sellers in the market and the alleged proximity of Adani with those in the highest echelons of power.

Arshad Shaikh studies the changing dynamics of the energy war declared on Russia by the West in response to its invasion of Ukraine. Russian oil is facing both sanctions and a price cap. However, Russia is trying to dent their effects through deft oil cuts, smart diplomacy and engaging a flotilla of sanction-avoiding ships. The nature of sanctions against Russia appears to be quite benign when compared with those imposed on Iraq and other countries that were accused of open aggression. Experts vary in their assessment of the effectiveness of the sanctions. The undercurrents in the global economy keep changing the energy geopolitics of the area. With the United Nations becoming a toothless tiger, the Ukrainian crisis has shown how difficult it is to police a strong predator.