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|Posted on March 2, 2014 at 4:19 PM||comments ()|
My topical comments are on Facebook. Please connect and read on there.
|Posted on November 9, 2013 at 6:12 AM||comments ()|
My thanks to the staff at these Search Engines for listing and indexing my website, and to Vistaprint for so beautifully hosting my website over last 28 months. It has built from strength to strength, drawing many visitors each day. Thanks to all :
Google (the multi-trillion dollar brain)
Twitter (tweet tweet to you)
LinkedIn (professional and so well defined)
Yahoo (book readers love you)
Bing (looks like people like spy thrillers)
and, just for good measure, a few porno sites, harmless fun is okay I'd say.
My blogs being read overnight are as follows :
- The ECB's 25 basispoint cut
- Stephanie Ruhle, CNBC interviewer
(She's actually an anchor for Bloomberg, working in New York)
- This is time for buyers to support Bangladesh factories
(American companies have done so, may blessings be unto them)
- Thomas Sugrue's review of The Last Great Prophet
- The Bank of America share price.
Yesterday I heard the news that China has experienced good growth and far from a hard-landing which people feared it is experiencing very sound growth, with PMI figures up and increasing.
One commentator has stated that China has several trillion dollars of reserves for investment, so I imagine the worldwide boom can continue. Today I heard that 80 percent of visas being taken for visits to Portugal are for Chinese property investors. This way, all economies with an open-door policy to encouraging property ownership and immigration would benefit from the Chinese wherewithal to sustain growth and Recovery.
If the Chinese sources are suggesting U.S. is looking for $561 Billion for next six months, it augers well for the U.S. that the jobs numbers were pretty good and growth potential is inherent in America, and it would be very probable that China would support such borrowings and support, as they have done in the recent past.
The luxury sector may start to rebound in China, who continue to buy Rolls Royce cars and jets as never before, and with the refocus on domestic consumption and increasing exports from China, it is apparent that the Honourable Xi Jinping is inspiring policies that will help the Chinese people achieve higher standards of living.
For stability and optimism into the near future, what more could the world wish for?
|Posted on October 29, 2013 at 7:08 AM||comments ()|
Following in the math of the sequestration cuts, followed by uncertainity about the U.S. Debt Ceiling raise, and the unwanted shutdown and furloughs, it seems apparent that confidence has taken a bit of a knock, especially with regards to the United States economy, but obviously timely positive action would restore that.
The news that Ms Janet Yellen was nominated by Mr Obama to the chair of the Federal Reserve was actually happy news to the markets, welcoming this dove of the financial system, assured that the punchbowl would be replenished and the taper would be quite some time away now.
Once that nomination is confirmed by one and all, that would send the right signal and boost the confidence that the economy needs right now, in view of the temporary fix of the nation's capacity to continue funding itself until only 15th January 2014.
Around that time Chairman Ben Bernanke steps down, and willing bi-partisan co-operation to extend
the reserve balance capacity and support Ms Yellen in her post will ensure great and much needed stability to the world financial system, and not only to that of the United States.
The housing numbers yesterday were obviously disappointing, indicating a shake in the confidence of house buyers. That is but natural, in view of the uncertainity created by the last-moment and then only such a short temporary fix of the situation.
When I was in California and Las Vegas last year, October and November, I met lots of people and heard their stories about how hopeful they are, and how they are happy working hard, to buy their first house and know things are okay with their economy. These were people who are taxi-drivers, concierges, receptionists, cleaners, waiters, waiteresses, a scientist working for an oil major, people who had made America their home, and who were sharing in the American dream.
It can obviously help the well-being of the nation if normal lending practices continue, where the individual man or woman and families are encouraged to buy their own houses, with the confidence in the system that things will continue positively, so they can believe in the virtue of borrowing and investing for the future.
The oil price on both sides of the Atlantic is so high, and hopefully needs to be around the $85 mark to encourage normal growth in the economies outside the G20 nations. Their depleted reserves and devalued currencies vis a vis the major currencies don't give them a chance. A dose of kindness now would greatly assist growth throughout the world, which would bring great mutual benefits to all nations. When we eat the food that we can so easily buy which has been exported from some country, we must spare a thought for the people there, who may not be able to afford such items in their own countries. When I wear my beautifully stitched shirt, my heart sends blessings to the factory workers in Bangladesh. It was heartening news to hear of American companies giving them continued support and helping them make the textile industry safe for workers.
With such friendship and trade between nations, each cog will help turn the small wheel which in turn will drive the greater wheel, and the path to continued economic Recovery, and yes, ultimately a growing Prosperity for all, shall continue. For that I pray.
|Posted on October 28, 2013 at 8:34 AM||comments ()|
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 26, 2013 at 12:27 PM||comments ()|
It seems a frequent occurrence, the coming of typhoons and cyclones that seem to hit the Eastern board of India every year, often hitting Odisha the hardest, together with Andhra Pradesh as well as Bengal.
This October, cyclone Phailin landed at Gopalpur in Odisha with a core speed of 200 Kilometres per hour, reducing to matchsticks the flimsy dwellings in the low-lying areas, flooding vast majority of farmland and dwellings. Fallen trees and power lines added to the problems in travelling. Thanfully early warming of the oncoming SuperCyclone enabled the local municipal authorities put into action evacuation plans, together with assistance from the Army and Navy, which were on standby, and so only a tiny number of people lost their lives this time, compared to the 10,000 last time.
Nearly a million people had been evacuated, with a timely and well-ordinated effort by the authorities. Social media must have helped, emphasising the dangers of flooding and the ferocity of the winds, and, most important, how much time they had to get out of harm's way. Villagers became convinced of the seriousness and left for the safety of higher areas and strong public dwellings, travelling at the last minute by buses laid on by the local councils. Thankfully, so many people saved their lives by not ignoring the messages.
About 100,000 people were similarly affected in Andhra Pradesh also.
Odisha Chief Minister has requested the government in Delhi to provide approximately a billion pounds over and above the 572 million pounds which would be available in the state disaster response fund, such has been the devastation left by Cyclone Phailin.
The government and local authorities are stretched trying to provide food, shelter and rehabilitation for the million plus people affected in the last fortnight.
As if that was not bad enough, another cyclone has hit the same region today, killing 29 and leaving another 85,000 marooned. The government and the local communities have a huge task of rebuilding and rehabilitating nearly 1.3 million people in Eastern states, some of the poorest and least developed in India. It would be a great blessing for the people if this encourages the construction of alternative housing in such areas.
In the meantime, again I pray for the safety and well-being of the people of Odisha and Andhra Pradesh and Bengal.
Respectfully Invoking our Saviour's prayer I intone :"Winds, be thee still".
May God's love and care be with the people there.
(written by Duru-darshan
Melchizedek priest at Church of Jesus Christ of Latter-Day Saints, Ilford)
Good news heard today, 9th November 2013.
Indian Prime Minister has announced allocation of funds of 1,000 Crores each for Odisha and Andhra Pradesh. (approx. 1 Billion Pounds each).
|Posted on October 23, 2013 at 3:29 PM||comments ()|
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 17, 2013 at 3:29 PM||comments ()|
Someone from New Zealand seems to remember the 'wear a silly hat and sing a song' article I blogged some time ago. That, plus all others (over 1100 articles on my blog www.durudarshan.co.uk/blog) are there for your amusement.
When I was much younger, some of my colleagues used to say that perhaps one day I should write a book and call it 'The Thoughts of Chairman Duru'. My style must have been an amusing version of the great Chinese leader.
My collection of work I have merely labelled for the meantime as 'From 2008 to Recovery'. I started to put my words on Google soon after the collapse of Lehman Bros in October 2008, which had the effect of a whirlwind hitting the capital markets. At that time, with subdued optimism and a fool's courage, I started to search for Worldwide Economic Recovery, May 2009, at Amazon.co.uk. The computerised book search merely cancelled out the May 2009 and gave me a handful of economics books. I found Nobel prizewinner but very modest hence great economist Dr. Edmund Phelps words inspiring. I feel still that in his works we can uncover some of the dynamics of restructuring our economies and re-creating Recovery from the clean landscape after 2008.
In the U.S., a lot of things seem to have been implemented, as well as in China, which has seen phenomenal growth in the last 30 years. Looking at this giant nation which is still partly a command economy, with a hierarchy where commands are given and executed without loss of time, one marvels at the inspiration to build and modernise left them by their great leader Chairman Mao. He was ruthless towards his enemies, but to his nation, he was a jovial comrade, leading them with emotional songs and poetry even when they worked hard on half empty stomachs. China has done their Leader proud, and the tradition has continued with the Honourable Hu Jintao furthering friendship with Mr Obama, which will surely further blossom now with the Honourable Xi Jinping.
The world is open for trade and further development, with Britain and Mr Cameron today inviting participation from France and China in building a nuclear power plant here in England. It is my belief that the lessons learnt from Fukushima as to how safe actually nuclear technology is, will be used to build a new generation of nuclear power plants throughout the world, which needs all alternative sources of power to build and continue forward.
The worldwide economic Recovery will continue by the grace of God, with more trade developing between nations, more co-operation in investing and helping build the other nations, so that in peace and exchanging the resources each nation is blessed with, all can share what God has given, to the glory of our Father in Heaven, whose name is Allah to some, Bhagvan to others, who loves all humanity deeply and will surely help us all find solutions to the problems that confront us. That I sincerely believe, and after the fiscal arrangements America has put in place last night, it seems for the meantime the music of Recovery will continue.
Putting on a silly hat and singing a song is a great idea of the Wal-Mart chairman. Haeri Mai, that's what the sister at church says to us sometimes. It means hello; to me, it sounds like my own Mum's name.
Today I hear the North and South parts of New Zealand have two new names in Mauri, the green island and the other one. Please do let me know when you write to me. I'd appreciate your comments.
In the meantime, kind regards,
|Posted on October 15, 2013 at 2:35 PM||comments ()|
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 24, 2013 at 5:10 AM||comments ()|
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 ()|
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.