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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 15, 2013 at 2:35 PM||comments (5)|
Sound bites coming out of Washington this morning suggested that progress had been made on the debt ceiling raise negotiations, but there was still some work to be done.
Indeed, NDTV was stating that a deal had been agreed in principle, to the effect that there would be 'full funding' of the government till 15th January, and thereafter a debt ceiling renegotiation date of 15th February. If that is in fact so, that would be great news for everybody, at least they won't have to worry about the cold winds of November and can have a holiday and relax over Christmas before having to face the cold corridors of Washington in the New Year.
People are counting on the House Fathers Harry Reid and Mitch McConnell to bring everybody to the fold and get some agreement in principle, so that it can be presented to the world latest by Thursday.
Optimistically, everybody is waiting for such news.
In the meantime the U.S. Budget Office is issuing advisories in the event that an agreement is not reached. Namely that in the event of a debt ceiling limit not being raised, the government will have run out of authority to issue any more money into the system. In the most unlikely event of that happening, the ramifications would multiply twelve times what has happened under the Sequestration.
(The sequestration cuts totalled $85 billion over twelve months from a Q.E. budget running at $85 billion per month; hence one twelfth, so the effects of a halt would be magnified twelve times. This is just to put in context some meat for the doomsters. I cannot see the wise elected leaders of the U.S. ever leading America down that path, which would of course spell pessimistic scenarios for the world, as all nations trade with the U.S. and lot of people are engaged in producing something for export or working in calls centres and so forth which serves the major economies.)
Ideally, everybody would like to believe that such an agreement will be reached and released to the world, that full funding of the government continues until January, and then once again they can face the cold winds of February to negotiate another debt ceiling raise. In the meantime, the funding will ensure U.S. continues to trade at full strength with the world, and create more jobs at home and abroad, creating a continuation of the Recovery that has gladly blessed this great nation.
Japan is most definitely looking for an endorsement of the QE policies which they have implemented with a huge success, pulling Japan out from a phase of stagnation that lasted 20 years to what are glad welcomes of a Recovery. China likewise is re-focusing on domestic growth; how much better it will be if things continue in a positive way across the globe, so that there is work for the workshops, freight for the transport and the oceans, everyone doing something purposeful, busy, happy, earning their livelihoods, buying houses, cars, sending their children to schools and colleges and universities, a whole world procession in progress, the army of humanity.
How wonderful it will be for those wise leaders in Washington to agree upon and then issue to the world the words that signal the continuation of the economic Recovery at home, and by extension to the world. I pray for this.
Looking for inspiration yesterday, some words occurred to me, which I tweeted, as follows :
"Have faith, just believe. Everything will be all right, by the grace of God."
I sincerely believe that shall be so.
|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 16, 2013 at 7:09 PM||comments (1)|
It seemed the stockmarkets had topped, and people were willing to take out some profits. Equally, it seemed there was fresh money waiting to be invested, especially with promise of low interest rates for the foreseeable future in Europe, U.S., Australia and Japan, as well as China, all of which are using policies to generate further growth.
The weak 0.1 percent GDP growth recorded in the second quarter in Eurozone has certainly helped the preceding period not being classified a recession, but the growth is very weak nevertheless, and demands continued stimulus with low interest rates.
The Bank of England's Guvnor Mark Carney has suggested an accommodative policy, indicating a low rate would obtain until such time as the unemployment falls to 7 percent. This is a mixed blessing, as the government would prefer to see the rate fall faster but at the same time a prolonged period of a low rate is good for boosting the economy, as it generates growth. All that really remains to be seen is the local banks loan the money out to entrepreneurs, start-ups, traditional small businesses seeking to expand capacity and such enterprises. Britain's bankers will have to be just as willing to lend venture capital as the reputed bankers across the pond if Britain is to emulate the growth that has been created in the U.S. in the last four years. As they say, money is inert matter and has life breathed into it when it circulates, giving people a living, fulfilling their dreams, going round and coming back with interest. That is how wealth becomes created, utilizing what God has given in the form of farming and resources, to which is added human ingenuity and creativity, producing goods and services that have particular value and becoming marketable. How kind God is, the bankers must appreciate and help the cause of humanity in their endeavours by lending money to them, so they can buy houses, cars, trucks, vans, iPods, cooking utensils, giant TVs, etc, etc. Surely they would like to see people prosper?
The tepid movements in the stockmarkets today seem to suggest that the profit taking or jitters may be over. Despite continued bad news of clashes in Egypt, the markets were quite stable. It seems the conference called in Europe next week to address this issue by the European Union is probably likely to consider curtailment of aid to Egypt. The U.S. has continued in a generous spirit not to have touched on this topic, hoping the situation there will be resolved peacefully in a short period. Hopefully the Egyptian leadership and the people of Egypt will value this generosity, and try to reconcile their differences and work out a formula to appease both sides and let peace rule in their midst.
People seeing dead bodies being carried to a makeshift morgue were lamenting 'Haram, haram' - meaning they did not expect death when their relatives had just gone to protest peacefully.
I pray that God inspires the people to listen to the voice of common sense and reconcile their differences, and come to a solution that is just for all.
I pray for peace in Egypt.
|Posted on August 15, 2013 at 6:17 PM||comments (1)|
It has been called a massacre, the deaths of nearly 500 people in clashes between the military and pro-Mursi supporters, after the ruling junta lost patience with the protestors occupying squares in Cairo and Alexandria. Bulldozer-tanks demolished the barricades Dr Mursi's supporters had built around themselves, and soon thus provoked the people started to throw bricks and stones at the tanks, and soon the army moved in to confront the protestors.
In the midst of this, or soon after it started, the Interim Vice President Mr El Baradei resigned, leaving the leadership mostly composed of military brass headed by General Sisi.
It has been a sad situation, and I hope and pray that during the one month of a State Emergency, when curfew is being enforced rigidly at night time, the ruling junta will consider the possibilities of how to now form a civilian government under its aegis and continue with restoration of the democracy and continuation of the economy vis a vis the world. The best solution, a pragmatic jigsaw fix, would be to reinstate Dr Mursi in a power-sharing leadership, which will appease the Muslim Brotherhood and not give U.S. the excuse to withdraw aid, which it could well do if the leadership is a de facto military one.
Under the aegis of the military, Dr Mursi can be relied upon to interpret the constitutional parameters of his duties. Perhaps if peace prevails, Dr El Baradei hopefully could be asked to also resume his position, perhaps as Joint Vice President with Dr Mursi. I am taking the liberty to give my impartial view, but I believe the Egyptian democracy must be saved at this first sign of trouble, so that it can continue to function normally with the tourism and trading, thereby putting this nation onto a path of Recovery, which it can achieve if there is a peaceful outcome to the current situation. I dread to imagine this nation of Nasser's and Anwar Sadat's people, who believe in Arab unity and regional peace, having such violence and anger which has visited Egypt in the last few days. I pray all sides will show restraint and unending patience and help to resolve the crisis peacefully.
The stock market in Cairo was a plunger, and the world markets too have taken fright, fearing escalation of violence in Egypt in the absence of a sound plan of reinstatement of an acceptable leadership that will appease the Muslim brotherhood protestors, who feel robbed of legitimate representation in the form of Dr Mursi, who the Yemini Nobel laureate Tawakkol Karman has described as 'the Nelson Mandela of the Arab world'.
The Oil price has headed up again, when really it should be heading down given the weak figure of 0.1 percent growth in Eurozone GDP. Okay, we don't have a recession, but it is very weak growth.
The high unemployment in Israel should give people food for thought. Oil price is far too high, and a few traders becoming millionaires will leave a lot of people suffering, especially in places like Yemen, Kenya, India, Pakistan, Bangladesh, Myanmar and China. High oil prices just slow the economies down, that is now pure common-sense, based on extensive data from the time Oil hit a high of $147 and saw the world economies suffer a slow down and the deepest recession in living memory.
May Allah inspire the Egyptian people to bridge their differences and set their nation back on track for peace and Recovery. My prayers are with all brothers and sisters in Egypt.
|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 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.
|Posted on July 16, 2013 at 9:12 AM||comments (4)|
The people are not happy with the acquittal in the U.S. of George Zimmermann, accused of shooting dead the teenager Trayvon Martin. It seems people both black and white and all ethnic groups are pouring out onto the streets of Oakland and Los Angeles, California. According to the law of the land, the jury found the accused aquitted, but the people are not satisfied with this verdict.
In the minds and hearts of the people protesting for justice for the late Trayvon Martin, the verdict delivered is not what they expected. I don't know if they are likely to now lodge an appeal for a re-trial, but the current situation suggests that may be an option to cool people down.
Meanwhile, in Cairo the pro-Mursi suppoters are filling the streets and the situation is far from peaceful. Here about 20 million out of 86 million of the Egyptian people voted for Dr Mursi. He seems to be the accommodative voice of peace and tolerance in this region, and obviously the U.S. were happy to see him in charge. The Muslim Brotherhood under his guidance provides an orthodox but democratic brand of Islam, which itself means Democracy, and keeping within their cultural interpretation, are a progressive people. The U.S. educated Dr Mursi and his supporters insist that the deposting was a coup d'état, counting on the U.S. to withdraw aid support for Egypt, which would hurt the nation. An accommodative stance for the Egyptian military leaders would be to give Dr Mursi a position in the political top.
Goma in the Democratic Republic of Congo is a sad place, a country that is blessed with fertile land, plentiful rain, and used to provide plenty when it was Belgian Congo. Alas, the dam at Matadi which was built to generate a huge amount of power, probably needs technical know-how to keep functioning and potentially provide the power that could electrify a good part of that region. It seems sad that a million people of bare means are often being driven round and round in circles by a military that must now become their well-wishers and protectors and guides, so that the potential of this region can find fuller expression.
My Facebook friend Marc Allen, the living apostle of New Age thinking, sees sea changes around the globe which will bring changes in the collective consciousness. His words today inspired a recap of the above scenarios. Humanity loves peace, and strives for justice. It is part of the unfolding picture today and when the leaders make efforts to provide pragmatic solutions to the situations that face them, then hope is there peace will be restored.
Mahatma Gandhi popularised the concept of Satyagraha - non-violent struggle for justice. Martin Luther King found success for his struggle with this method, although regretfully his life was cut short. In South Africa, the great soul Nelson Mandela is glorious proof of this philosophy.
I pray for peaceful outcome to all these situations. As we emit peace from our hearts, so may peace reciprocate from those around us.