MNI with a heads up for a piece from Xinhua News Agency
Reporting on comments from Li Xinchuang, head of China Metallurgical Industry Planning and Research Institute:
Closing excessive steel-production capacity may result in 400,000 job losses
More jobs will be lost in associated upstream and downstream businesses
Large-scale job losses in the steel industry may threaten social stability
Social stability is a very big concern of the Chinese administration. Structural reform of the Chinese economy is creating costs like stability costs. I don’t know how Chinese authorities will deal with this. There are suggestions some displaced workers will return to rural areas.
I am not expert on this, but its a very scary prospect.-
Xinhua News Agency is the official press agency of the People’s Republic of China
1. Lack of motivation. A talent is irrelevant if a person is not motivated to use it. Motivation may be external (for example, social approval) or internal (satisfaction from a job well-done, for instance). External sources tend to be transient, while internal sources tend to produce more consistent performance.
2. Lack of impulse control. Habitual impulsiveness gets in the way of optimal performance. Some people do not bring their full intellectual resources to bear on a problem but go with the first solution that pops into their heads.
3. Lack of perseverance and perseveration. Some people give up too easily, while others are unable to stop even when the quest will clearly be fruitless.
4. Using the wrong abilities.People may not be using the right abilities for the tasks in which they are engaged.
5. Inability to translate thought into action.Some people seem buried in thought. They have good ideas but rarely seem able to do anything about them.
6. Lack of product orientation.Some people seem more concerned about the process than the result of activity.
Last Close : 5862.25
Yesterday Boldly written in Morning ,Sell with stop of 6010-6020 & Relax.Indicated about 3rd Gap & 13th Day from low.
Intraday our All Targets were achieved.Best was :Told to Buy 6000 Put at 122 & it zoomed to kiss 200+ level in hrs only.
ABOVE is Daily Chart of Nifty Future ,Yesterday after kissing Falling Trendline it crashed Vertically by 200+ points in hrs only.
Minor Hurdle at 5868———————5881 level.
Now if trades above 5881 level with volumes and stays for 20 minutes then Rally upto 5922—-5935 is possible.
101% Will Not Jump & Buy (looking Tired only )
Mark Our Words :If Not crossing Yesterday’s High of 6030 & Trades below 5808 level with volumes or closes below this level
Nonstop slide upto 5675—————-5631 in hrs only we can see !!
Two Gaps to be filled……………..One at 5706 & 2nd at 5475 level.
101% More Details ,Intraday levels to our Subscribers.
We all have different personal strengths and weakness. Many people focus on transforming a weakness into a strength. While that is admirable, the reality is that it’s not always possible. Although I agree with the basic idea of brain plasticity, and I whole-heartedly agree with the idea of always striving for self-improvement, I also know that as humans we have a certain degree of natural-born temperament and not everything about us can be changed.
Although we can’t always build or change every weakness into strength, the good news is that we can always leverage our strengths, if we know how. And that is mighty powerful. It’s so powerful that if you leverage the right strengths in the right way they can do an excellent job of not just counter-balancing your weaknesses, but can propel you so far ahead that those weaknesses pale in comparison.
One of the most powerful things you can do for yourself is identifying your natural strengths and then work to see how you can build on them.
We all have different personal strengths, and knowing how to leverage them is an important part of successful trading. A major consideration here is that you try to identify and leverage your own personal strengths, and not simply copy someone else’s. All too often I see struggling traders running from one style to another style whenever they see someone else’s success. One of the primary reasons why copying someone else’s trading style doesn’t always pay off in trading is because of different personal strengths.
The question of who will be the next chairman of the Federal Reserve may be one that President Barack Obama is chewing over while on holiday on the Massachusetts island of Martha’s Vineyard.
It’s one that is likely to move to the front of investors’ minds once the autumn begins. Mr Bernanke’s second term expires on January 31, and the current chairman has given no indication he wants a third.
Bloomberg has today published a survey of 63 economists looking both at who they want and who they would prefer as the successor. Here’s a quick snapshot of the findings:
65 per cent expect President Obama to pick Janet Yellen, currently Mr Bernanke’s deputy Read More
President Barack Obama is still considering several candidates for the chairmanship of the Federal Reserve and will announce his decision in the coming months.
Responding to questions at a press conference in Washington, Mr Obama said that both Janet Yellen and Lawrence Summers, two candidates who have been named as likely nominees, were “highly qualified” but that he was still evaluating other suitors.
Mr Obama called the decision one of the most important choices of his presidency.
The US president said the next chairman would need to set policy that bolsters the slow recovery underway: Read More
“What good can come from comfort? It’s not going to be art. I think there’s a false ideal out there, to some people — maybe younger people — they might think “I could be an artist and I don’t have to work.”
“But I think calling yourself an artist, you have to work three times as hard as someone with a punch-clock job. Because if you punch in, you have a responsibility at your job, but you can also do what you’re told, and work the machine, whatever you’re doing, do whatever is already there for you… do what’s expected of you of that job.
“But if you are an artist and you have to create something from nothing — there is nothing on this canvas, nothing on this tape, we have to create something that didn’t exist before — that’s ultra-responsibility, super-responsibility isn’t it.”
Traders and investors bear a “creative responsibility” in respect to creating something from nothing… starting with a blank canvas (portfolio) and producing profitable and worthwhile results over time.
This notion reflects the craftsmanship embedded in the investment process… trade selection… methodology and process design…
As an active market participant, do you see yourself as an artist too? How do you embrace the creative responsibility that comes with such?
I don’t think they will end QE. I rather think they will have to increase it because as you print money or as you purchase assets, from a central banking point of view, it loses its impact over time. In order to keep the impact going, you have to essentially increase it. I believe that the Dovish members of the Fed will print more money. Especially after the resignation of Mr. Bernanke early next year, when he will be replaced, there will be even more Dovish members.
… until the system breaks down. My view would be that there will be money printing, and the problem with money printing is always that you don’t control where it goes to.
On the money-printers coming to their senses? Read More
Reserve Bank of India (RBI) Governor Duvvuri Subbarao said on Saturday he has not yet been offered to stay on in his job after his five-year term comes to an end in September.
“No offer has been made so far, so there is no question of accepting so far. It is a hypothetical question. As I said before, I must move on,” Subbarao said on the sidelines of a meeting of the world’s financial leaders in Moscow.
Subbarao was appointed as the central bank chief on September 5, 2008 for three years and was later given an extension for another two years.
Speculation that he would get another extension has increased recently, as some believe that the government would prefer to make no changes until elections in May.
India is going through difficult economic times, battling a weakening currency, a record high current account deficit, lowest growth in a decade and still elevated inflation.
The Fed’s plans hinge on economic growth picking up, super-low inflation returning to 2% and hiring staying strong. But the Fed would rethink its timetable if the economy doesn’t deliver on these expectations.
He looks at four questions the Fed is trying to answer:
Is Job Growth Sustainable?
Is the Jobless Rate Overstating the Labor Market’s Health?