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Positive actions would make everything good

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.
 
Kind regards,
Duru-darshan.
 
 
 
 
 
 

How is the economic Recovery likely to continue?

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.
 
Kind regards,
Duru-darshan.
 

Light a candle....

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.
 
Amen.
 
(written by Duru-darshan)
 

Thanks for visiting my website.

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.
 
 #####################################sangeeta############################################
 
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. 
 
Kind regards,
Duru-darshan.

Germany a good model of employment

It is good news in Europe, with purchasing managers indexes up and house prices up in United Kingdom.  The unemployment rate edging downwards to 7.7 percent from 7.8 previously does not cause concern about the interest rate in the near term.  The Bank of England's benchmark rate can remain at the record low 0.5 percent for the foreseeable future, perhaps another three years, until unemployment falls to 7 percent, which is the peg  Governor Mark Carney has indicated.
 
But suppose, just suppose, employment in Britain were to pick up, perhaps using the German model of creating jobs?  There, according to Euronews, the unemployment has fallen to 5.5 percent, mainly helped by creating what are called Mini Jobs.  These are jobs taken by newcomers and students, perhaps earning a few hundred Euros a month for a part time job, or a Mini Job.  There is no contract, no holiday pay, let alone anything towards a pension.  It has no minimum wage.  The rate is fixed between the employer and employee, and lasts as long as there is work, without any guarantee. 
This seems a smart way of creating jobs, and enabling people earn something.  It is an idea that could be copied in other countries, labour laws permitting.  
 
It seems a good way forward to beat the dole ques, and get peoples morale up.  This could eventually help balance the national books.
 
Kind regards,
Duru-darshan.
 
 
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