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|Posted on October 28, 2013 at 8:34 AM||comments (101)|
It has taken all of five years for the world economies to be restored to semblance of normality from the dark days of 2008.
Remember those days when the interest rates were quite high in the advanced economies, anything from 4 to 7 percent - and that for the benchmark European Central Bank, Federal Reserve and Bank of England rate.
The crisis created by the collapse of Lehmann Bros sent shockwaves throughout the financial system worldwide, with stockmarkets tumbling, loss of confidence in trade, fall in house prices, and a mood of pessimism gripped the world.
At the vortex of the crisis, when Oil price reached $147 per barrel, according to OPEC AND European Union figures, about $250 billion additional bills were imposed on the European Union's oil expenditure, and what a terrible crisis it created, making transportation and manufacturing unviable in many countries, e.g. Portugal, Spain, Greece, the extra drain sucking the life-force out of the system.
At the peak of the crisis, people who were earlier working in the textile industry were suddenly without work, and wondering how they would find their cod-and-chips. Enterprising young people and old were trying their hand at the e-commerce economy, and finding lot of work but little revenue. The Prime Minister of a sovereign nation which was so prosperous not so long ago was visiting the heads of state of various nations, asking for help. The social security systems were severally stretched, the tax revenues not corresponding to the new outflows. The interest on the bonds became quite high, to attract investors. Talented people from universities were not able to find opportunities to make a living.
Demand on housing was as high as ever, but people didn't have money to rent, nor were banks willing to extend mortgages. Indeed, banks and loan corporations were suddenly unviable, after the property price plunge and bankruptcies of many individuals.
Today, comparatively, there has been a return of confidence. Things are getting better. Spain, Portugal and Greece have seen their bonds become more attractive to international investors.
But the worst is hardly behind us, yet the oil price remains so high. The pending closure of the Grangemouth Refinery is an indicator of the havoc the oil price plays with the balance sheet of such businesses. A business that was viable up until recently today stands in need of £300 million, with that it would support 800 jobs until trade is more favourable. This may be a microcosmic illustration of what could be in store for the OPEC nations, unless they decide to reduce the oil price to a level that is affordable to the rest of the world, and would give the OPEC nations an on-going stable income on a long-term basis into the future, and allow the world to breathe, and help sustain Recovery.
It took two-and-a-half years after the high oil price knocked the economies for six for a return to some kind of normal business activity. Common sense tells me that the high price today will probably hamper growth for about a year-and-a-half, and it is already restricting growth and causing hardships in many places, e.g. Yemn, Kenya, India, and almost all the nations outside the G20.
I WOULD RESPECTFULLY SUGGEST THAT THE OIL PRICE NEEDS TO BE BELOW $85 A BARREL.
That would help the hard-pressed developing nations meet their bills from their depleted reserves or devalued currencies, and enabling continuation of trade with the U.S., China, European Union, Israel and indeed OPEC, which would create a dynamic of mutual co-operation and support that may help all nations thrive and develop all their potential. That is the missing piece of the jigsaw in the picture of a continuation of the worldwide economic Recovery.
All the listening hearts of the world know what I am saying, and those who sit in positions of influence will do what is necessary, for that I pray.
|Posted on October 23, 2013 at 3:29 PM||comments (9)|
Recently I've had a lot of visitors to my blog and website from Putian as well as Beijing.
I note the Indian Premier Dr Manmohan Singh has been to visit Beijing soon after his trip to Moscow, and
things are looking good for co-operation on peacefully observing each other's shared borders as well as increase in friendly relations and trade.
My personal hope is to become nominated by the Congress Party of India (UPA) as the Prime Ministerial candidate for May 2014. Should my wish be fulfilled with approval of Rahul and Mrs Sonia Gandhi, I would be thrilled and would go to India straight away to start campaigning in earnest.
I have a vision for India as a good neighbour to China, Russia, Pakistan, Nepal, Bangladesh, Afghanistan and the whole region, as well as to unlock the huge potential that there obviously is for growth of infrastructure such as roads, bridges, dams, power generation, further irrigation, as well as housing, hospitals, schools, universities, and so on, which would utilise the resources and cater to the public, as well as use the skills and expertise internationally in building up this great nation. I have lived in London the last 41 years, and see the n-th degree developments of this nation (United Kingdom) as something India could well try to aim for. I imagine that with India's resources both of the peoples' savings and growing expectations of improvements in living standards, it would fit hand-in-glove.
It is regrettable that there have been skirmishes on the international border with Pakistan, especially just after Dr Manmohan Singh-ji had constructive talks with Pakistan PM Nawaz Sharif in New York recently. Mr Nawaz Sharif has a great reputation as a man of his people and a positive personality, who would only wish the best for his people and continuation of peaceful co-existence with India. The Indian PM has offered bilateral talks on this issue to find a resolution, and I sincerely hope common-sense and peace prevails once again.
I hope my readers will be able to make an accurate picture of what I would like to do, and I would welcome your comments on this matter.
In the meantime, I wish you a peaceful and happy evening.
|Posted on October 19, 2013 at 12:21 PM||comments (7)|
When I get so many readers from Kansas City to my blog, I think Narayani Namastute! Narayani Namastute! Yes, on the auspicious day of Full Moon, as it was yesterday, and with the conjunction of the debt ceiling raise decision in the U.S., I was wondering what the Kansas City Fed Chairman Narayanan Kocharlakota was thinking. I haven't read anything in the press, but he is normally an advocate of quantitative easing with deliberate measure. In this regard, again, it is early days to see a ballpark figure of the debt ceiling raise, and for the 4 months of January 15th, Congress has announced that the U.S. government will be fully funded. Their Comptroller is likely to know what that means, and how much money will continue to flow into the system until then.
In the meantime, it must be a great relief that the shutdown has been lifted. Never again, I can hear everyone saying. People have lost income and business, tourists have suffered not being able to visit monuments and museums they may have especially travelled over the States to visit. The short but very long 14 days have cost the U.S. dear, to the tune of some $24 Billion in lost revenue and productivity. The lesson is clear, such a shutdown over an extended period would cause the economy to slow down, and the economy to lose something on the GDP measure. It is like an economy in good shape being told to trim down. Never again, I hope.
As to the ballpark figure, my suggestion is $1.32 Trillion over 20 months, which works out at $66 Billion per month. After payment of some $60 Billion per month for the social security net, that leaves $6 Billion per month for enterprise and job creation. Jobs ranging in pay from $20 or $30,000 per annum to $250,000 per annum could be created, perhaps 300,000 or 400,000 per month. And he presto! within six months the U.S. would have whizzed on from Recovery to Prosperity.
But that's just a ballpark figure I am suggesting. At current Stimulus of $85 Billion per month, maybe it could be different. In view of the regime of Abenomics in Japan and their Stimulus of $85 Billion per month, the per capita differential is in Japan's favour. It is a theme to be explored over the coming days.
I am glad to note the global economic order has been stabilised after the agreement in the U.S. on the debt ceiling raise. As they all enjoy four months of relative calm and stability until 15th January and then to 7th February, I trust they will have this in mind and not give everyone, including themselves, a tough time.
Certainly, the costings and implementation of Obamacare is something they can review and see how technically it would be best implemented. The beginnings of the British NHS took about 40 years in gestation, before it received the blessing as a Royal Charter in 1947 under the kind King George. Obamacare is by comparison in its infancy, and needs to be tweaked and explored before this very sound principle can bring benefits to the citizens and the nation.
|Posted on September 24, 2013 at 5:10 AM||comments (1)|
The economic news seems pretty positive all round, for continued worldwide economic Recovery. India of course is out of sync on the benchmark interest rate, but it is a dynamic economy where the leadership are a little bit too cautious to accelerate growth. For the moment it seems it will just motor along steadily, and blaming the high inflation on the scarcity of onions, which they are plentifully exporting.
The Greek economy seems to be on the mend, with a secondary surplus expected. With a nation with a population of 20 million and a large area, perhaps they need to encourage people who enjoy farming. The potential must be huge with good climate, abundance of water and good weather as well.
The situation in Spain seems pretty positive too, with a growth of 0.2 percent expected for the second quarter. The benefits of creating jobs and filling up the empty housing, additionally with putting more buses on the roads to service secluded areas more frequently, will surely add to the growth. Blessed with good weather and friendly people, I believe there is huge potential for continued growth in Spain.
A Latin version of Hollywood and Bollywood must surely be a possibility, with intercontinental co-productions?
Germany, well the situation seems so good, with Mme Angela Merkel back in the driving seat.
As regards the U.S., the talk of taper seems both promising and cautionary. As Treasury Minister Jack Lew has suggested, the Debt Ceiling issue needs addressing quite soon. The talk to me seems like a tapered candle, or a washer to be tapered on a lathe...I suppose Mr Bernanke will suggested what will need to be done. The debt ceiling fix of a $1.45 Trillion in August 2011 was a job well done, adding to the money supply and creating the cash flow that has translated into so many jobs, a pick up in the housing market, and continued growth in the US economy, creating heatmaps of happiness for so many more people. The stockmarkets and the banks seem in robust health, creating a huge pool of capital that will service the needs of people as and when they need to borrow and spend. Cash rich companies like Apple attest to that fact.
What would be great would be perhaps the creation of 500,000 jobs per month on a costing of $7 billion per month. If that much additional capital was infused into the system by way of the taper, that would be just great. Five years after the collapse of October 2008, the economic systems seem in much better shape, with strong financial institutions and safeguards in place. A steady worldwide Economic Recovery seems to have been achieved, through co-operation and understanding of nations and the grace of God. In celebration and to continue with Recovery, the world counts on seeing the Republicans and the Democrats in Washington support a cordial agreement, and light a new candle to Prosperity.
Ladies and gentlemen, you may step up to the alter, and light the candle that will add substance to the drams of humanity.
(written by Duru-darshan)
|Posted on September 21, 2013 at 6:09 AM||comments (5)|
Thanks for visiting my website and reading my blog. I hope you found something interesting.
Life is fun, with demands on time in so many directions.
Thursday I went to the Community Centre in Cricklewood. Every Full Moon, they do prayers to Satnarayan Swami and Mata Laxmi. It is a tradition we Sindhis have followed for generations, to pray to God and Goddess to give us peace in the household, and prosperity in our business affairs.
Later I visited the Southbank Centre, attracted there by the exhibition of her Picasso like painting by
Sangeeta Roshni Babani (she is an inspired painter from Mumbai, and she's Sindhi too, so I thought I'll
pay there a visit).
Sangeeta hadn't obtained her visa, and therefore could not be there. Other artists from India exhibited
their creations alongside a few of Sangeeta's paintings.
Particularly I liked a table whose top opens in segments like a fan, and this is adorned by mirrors.
This is by Yamin Mohiuddin from Hyderabad. I can see such a piece adorning some young one's bedroom or even a hairdressing salon. It would look good in a media company's foyer.
If you like genuine teak furniture, like a chair crafted like black petals, or a palm made of teak, and don't mind paying about £800 for such items, Firdos Furnishers of Nagpur have several pieces on display.
An English idea that seemed to catch everyone's eye was Gerrad the Second. This is a folding dog that looks like an inspired work of origami, with 188 sections to unfold and paste together very very carefully with Uhu glue. The small ones sell for £20, and are limited editions of 500. Fair enough. They have decorative prints of dollar notes, piping, mascots, newspaper cuttings and so on, like industry or sector or indeed national mascots.The large ones, including one made of black wool decorated with harlequin squares, well, those will become collector's items, starting in an auction in 2014 at £1,000. Absolutely grand. Made by Liam from Liverpool.
Today I missed going to the Millionaire Mentors Bootcamp at the Hilton, London Bridge. There is a free general entrace, generously hosted by Raymond Aaron, the bestselling author. Problem is, it starts at 9 am on Saturday and Sunday. Just a bit too early to travel up there for me; otherwise it seems an event worth attending. Finishes at 6pm both days. Bootcamp to give you quick fire ideas how to boot up your ideas and send them skyrocketing.
I am sure someone can suggest ideas to make my website and blog into a money minting machine. Well, hold my hand and show me the way.
|Posted on August 8, 2013 at 3:29 AM||comments (6)|
For a continuation of the worldwide economic Recovery, in my opinion the price of Oil is far too high - both WTI and Brent, which hit parity recently and have been both in backwardation on the far futures contracts.
The holding of or reduction of benchmark rates in accommodative policies is brilliant, and the only way forward. The Australian Reserve Bank, U.S. Federal Reserve and Bank of England are setting the tone for continuation of Recovery.
Mr Raghuram Rajan has been appointed Governor at the Reserve Bank of India, and assumed his post there on 5th September. In his name are coded the most fond Hindu wishes in Godhead, just as they chant Raghupati Ragav Rajaram. Hope he will set policies to utilise the various fiscal tools he has at his disposal, and help renew expansionary growth in the Indian economy. It is noted that he is a gregarious, media-friendly personality, so presumably the world will hear more about what he has in mind.
Oil price at anything above $85 per barrel is too high, and will continue to slow down the world economies. When people are unable to feed themselves and their children in Yemen and other places, most of the developing world I would surmise, it is time for the OPEC nations to pause and consider what would be best for everybody. Growing unemployment in South Africa (over 25 percent) and other countries, where social security is not a state policy, does not indicate a robust world picture. It is imperative that the Oil price be reduced, for continuation of worldwide economic Recovery, which in turn will be able to sustain infrastructure growth in the OPEC and other nations.
Israel with an unemployment rate of over 25 percent could do with international goodwill for their technologically advanced products, and a peace in that region can only help bring the oil price down and help the economies in that region. In a cooling off of tensions lies the way forward to peace and prosperity.
Enlightened souls who help govern the policies, the duty is yours to do the needful.
|Posted on July 31, 2013 at 1:52 PM||comments (4)|
Hello, dear Readers, my posts this month have been as follows. There was a slight problem with my Vistaprint site, and I was not getting the up-to-date statistics recently, so in case there has been a problem with the communication, I thought I'd bring you up-to-date with my posts :-
1) Hello, Oakland, Cairo, Goma 16/7
2) In God we trust, Charity, Spiritual and Temporal Blessings 17/7
3) Detroit filed for Chapter 9 Bankruptcy 19/7
4) Hello Everybody...Oakland, Detroit, Miami 21/7
5) Could the Himalayan tsunami have been averted? 22/7
6) Potholes, potholes everywhere...hello India 25/7
7) Right selection, with confidence, will restore Prosperity 26/7
8) Baba Ramdev shop in Seven Kings 27/7
9) 'I trust according to the spirit of God that is within me' 28/7
As always, I look forward to receiving your comments. Keep them coming in- at lasts count, I had received a gratifying 806 comments to 1180 posts. Wey hey, readers, I am glad to hear from you.
Wish you a joyful time in your activities.
|Posted on July 30, 2013 at 8:08 AM||comments (2)|
There seem to be mixed signals about the economy.
The OPEC countries exported oil worth $1.27 Trillion last year, so that much wealth has been created for their economies and the nations who trade with them. What is baffling is the high Oil price, which in my calculation is far too high to sustain Recovery. Couple that with an observation made by Prince Al-waleed bin Talaal that in view of increasing shale gas production, especially in the U.S., the world is less reliant on oil from OPEC, meaning declining demand in years to come. Most OPEC nations' infrastructure development projects would stay on line were the price per barrel no less than $85, that was according to Sheikh Al-Naimi and Sheikh Al-Badari as well as the Algerian oil minister about a year ago.
The housing numbers from the U.S. on the Case-Schiller map have not been as robust as was expected; indeed, housing starts have been the slowest for 18 years. While reduced inventory is holding up prices, there needs to be much more construction activity.
In the meantime, Lakshman Achuthan of the Economic Cycles Research Institute, who looks at the leading indicators, suggests he has seen figures to indicate a slow-down, which would probably show up in the real economy in another four-five months time. Corrective measures by government and big corporations in creating jobs and a resurgence of confidence could help to avert that scenario.
All humans like to eat and drink well, dress well, live in comfortable housing, have good transport, have good entertainment, read books, listen to music, watch movies, play in the park, go on holidays, and so on, and people always have aspirations that the economy - in the combined efforts of all to innovate, develop, utilize and monetize all that God has put on earth - will help them with improving standards of living. That is what everyone wants.
Good news from the U.S. is that they are creating about 150,000 or more jobs each month, and today sees the announcement by Amazon of the creation of 5,000 jobs at their HQ.
I suggest a lower Oil price would help Recovery regain its sure steps, for a worldwide economic Recovery. I pray for that.
|Posted on July 28, 2013 at 4:34 PM||comments (2)|
Today we had the Firesdie Evening meeting at the Ilford chapel of the LDS, otherwise known as the Mormons.
Brother Nana Aggrey quoted some very inspiring quotes from the Bible and the Book of Mormon.
Before Christ left, at His last supper, he told his apostles : "I am going to my Father. I will leave you with a Comforter, who will be your companion."
What example should we follow ? "Be an ambassador or representative of Christ. Be the best. Be learned and do as He would do."
"I trust you have not set your desire on riches". This of course refers to material riches above one's needs, for those who may have become avaricious with Satan's temptation.
On Trust : "I trust according to the spirit of God that is within me."
"The only way we can have testimony is by fasting and going on our knees."
What don't we have to be grateful for. "I am grateful we have something precious. Sometimes we forget. If we reflect on our blessings one by one, we all realize how blessed we all are."
The Bishop is a living example of the message of Christ. His name is Bishop Michael Onaolapo. He has great understanding for the young single adults in the congregation, and everybody else.
"The Lord in His immense mercy knows what difficulties and challenges you face. But through all our difficulties and challenges, let the gospel of Jesus Christ be your foundation."
Brother Paul Stevenson closed the remarks by adding that the Romford Stake is to form a Single Adult Committee, chaired by President Saltzman with two representatives. The purpose will be to plan and organise activities. Finding marriage partners will not be the main purpose, although if that happens, it would a happy situation.
Brother John Phillips made an eloquent closing prayer, observing that the church and congregation is a joyful place for people to meet. The Ilford ward is one of the fastest growing congregations, with many baptisms each year.
(written by Duru-darshan
Melchizedek Priest at the LDS
|Posted on July 26, 2013 at 8:40 AM||comments (1)|
Yesterday I passed a beautiful shop, Nails of Promise, in Gants Hill, Ilford.
Previously, I had been to view this shop, when it was lying empty. At that time, somebody had just stopped trading there as a Training Provider . The empty premises were naturally depressive.
The figures didn't stack up for me and a partner for a venture we had in mind.
But yesterday when I saw the shop, I was really impressed. The proprietor, Tony Fox, who is from Brazil, has turned the shop into a beautiful salon, specialising in doing nails. Now that is a service people like, and most ladies are prepared to pay the charges for beautification. Ton told me he has a full book, busy every day, and has to turn customers away until he adds a trainee in the very near future. "Most young people don't realize that the first thing in a business is customer service : how to attend customers and attend to their needs. And training obviously takes time and attention."
He took the empty shell of a shop and has done it up beautifully, with an ivory white laminate floor, complementing walls, lights and mirrors, ceramic desks, swivel chairs, sofas, table lamps and a slim chandelier. You can well imagine what sort of figure conscious customers come in here.
He did all the interior decorating himself, with a budget of about thirty thousand pounds. It's taken courage and confidence to create this salon, but it is doing well, and will grow in the near future.
In this location, most other businesses would not have survived, because there are other competing establishments not far away. But a Nail Salon, great promise. I draw the lesson from this that the right choice of business (or even a political candidate), backed with promise, will restore Prosperity.