Warrier's Collage on Sunday July 24, 2022
Welcome To Warrier's COLLAGE On Sunday July 24, 2022 Underwater Garden https://youtu.be/i49Grb9ageY Good Morning 🌄 Happy Birthday to all readers having Birthday during the week ending Saturday July 30, 2022. Ayurarogyasaukhyam 🙏 and Best Wishes Nice Day M G Warrier A Messages/Responses 1) Dr T V Surendran Mananthavady Suggestions... We pay subscription to news papers and news channels.. Likewise why don't you collect a monthly dues for the Collage ? Can be utilised for charity A very good suggestion. At the function where my book "Restoring TRUST in Governance" was formally released in Thiruvananthapuram this year, copies of book were sold @Rs300 per copy and the entire sales proceeds was donated to charity. Readers are welcome to decide the subscription they would be willing to pay for Collage, donate a part of it to a charity of their choice and inform Collage. If they are comfortable, Collage will be happy to publish the details prominently. Thanks 🙏-Warrier 2) S Thyagarajan Shared an article on Rupee Slide : Why Rupee Depreciation Shouldn't Be A Concern Despite the rupee touching a lifetime low of 80 against the dollar, the fundamentals of the resilient Indian economy remain strong. Context : The rupee has depreciated about 7.5 per cent against the dollar in 2022 so far. Foreign portfolio investors have withdrawn about $14 billion from Indian equity markets in 2022-23. Still, the performance of the Indian currency has been better than its global peers. The Japanese yen, euro, Swiss franc, and British pound have depreciated much more against the dollar, signifying the resilience of the Indian rupee. Continued at H1 B SUNDAY COLLAGE : V T Panchapagesan SUNDAY COLLAGE. O, MAN U KNOW NOT WHAT MANU IS……pause Practice the pause, Pause before Judging, Pause before Assuming, Pause before Accusing, Pause whenever you are About to react Harshly, And you will AVOID doing And saying things You will late REGRET…. Let us understand what Manu means….. According to Theosophy, a grade in the Theosophical society below the planet Logoi, Or Rulers of the Seven chains….. The charge given to Manus is that of forming The different races of Humanity and guiding humanity Evolution…. Each race has its own Manu, who represents the racial type.. This theosophical concept derives from Hindu mythology Of Manu ( Man, Thinker) a series of fourteen progenitors Of the human face, each creation being destroyed in a Mahayuga, ( Vast cycle of Time ) involving in a DELUGE.. MANU WHICH WE CALL TODAY IS CALLED VAIVASVATA…. It is also referred to Shraddhhadeva and Satyavrata.. A king of Dravidian before the great flood…… Who are WE? We fall, We rise; We make mistakes, We live and We learn. We are Human, not perfect..We have been Hurt, but we are alive—- To breathe, To think, To enjoy and to chase the things we love…. Sometimes there is sadness in our Journey But there is also lots of beauty…. We must keep putting one foot in front of the other even we Hurt, For we will never know what is waiting for us just around to bend——- You, me, the action varies as Success in life is found Loving Not just just winning. Material things may temporarily satisfy the body, But they can never satisfy the spirit of Many Which cries to God for the Joy and Happiness And eternal fulfillment that only He can give.. O,MAN, U now understand what MANU IS…… Heaven is not only a final destination, It is also a state of Mind And Heart that we can experience here and now by opening Our Hearts to God’s Love and Sharing it with others….. PRAGYANAM BRAHMA, GROSS. INTELLECT. SENSES CONTROL AHAMBRAHMASMI, GROSS. BODY. SERVICE EGOLESS TATVAMASI, SUBTLE. BODY. SINCERITY IN ACTION AYAMATMABRAHMA…. SUBTLE. INTELLECT. SOUL IS DIVINE V T Panchapagesan C Sunday Collage Dr Charan Singh https://twitter.com/CharanSingh60/status/1550169672581926916?s=20&t=pRtIiFNr83NPBTA21soZ6w Unity in Diversity - 320 नानक हट पटण विचि कांइआ हरि लैंदे गुरमुखि सउदा जीउ O Nanak, in the shops of the city of the human body, the Gurmukhs (those under the guidance of Guru) buy the merchandise of the Lord's Name Guru Ramdass, Majh, 95, SGGS D Collage Daity : Kali Goddess of Transformation https://timesofindia.indiatimes.com/blogs/toi-edit-page/the-real-kali-lies-beyond-all-images/ For many, the iconography of Kali has grown more important than the principle she represents. This is unsurprising, for the stories around her are colourful. She was clearly part of tribal and rural folklore a long time before she erupted into mainstream literature some 1,500 years ago as the violent warrior goddess, consumed by bloodlust, capable of decimating her adversaries, even drinking their blood. For all her violence, however, she is seen as a force that restores cosmic order. In the past few centuries, the terrifying goddess has also been seen as Divine Mother. Kali’s ferocity remains undiminished, but poets began to see her as the maternal protector, the embodiment of fierce compassion, who destroys only to renew and liberate. She does not terminate; she transforms. E Sages of recent times Ramana Maharshi : Vathsala Jayaraman Shri Venkataraman, who became Sage Ramana later was born in a village called Tiruchchuzhi in Tamilnadu. He was a normal child, exhibited no apparent signs of greatness. He was very good at sports, intelligent but lazy at school, indulged in mischieves like any other boy. In July 1896, he had a life changing experience, which urged him towards 'self-enquiry' that culminated within a few minutes in his self awakening. His essential teaching was the powerful 'silence' which radiated from him and calmed the minds of many devotees which included foreigners like Paul Brunton who has penned many books on Ramana. Many people have questioned Ramana as to how one can teach thro silence. Shri Ramana Replied "How does speech arise? First there is abstract knowledge. Out of this arises the ego, which in turn gives rise to thoughts and words. So the word is the great grandson of the original source-silence. If words can produce an effect, judge for yourself how much more powerful the 'silence' should be. A few minutes of silence carries much more powerful radiations and vibrations than those created out of continuous discourses for months." Shri Ramana said" Trace the 'I' thought back to its source and find out where 'I' arises from. It will automatically dissolve in the source" Ramana Maharishi very often used to tell his devotees "There is nothing called 'realization' in life. What is there to realize? We have realized the unreal thinking it to be real. We dig a well and make a huge pit.The akasa or the space in the well has not been created. It is already there.We have just removed the the earth which was filling the akasa. Similarly with all the innate tendencies gone, the self will shine alone." F Book on my table : The Psychology of Money By Morgan Housel The Psychology of Money But in the real world Set of 1 book by Morgan Housel https://amzn.eu/d/hOeCPR3 The teachings of wealth, greed, and happiness are eternal. When it comes to money, it's not always about what you know. It all boils down to how you act. It is difficult to teach behaviour to even the most brilliant people. Managing money, investing it, and making business decisions are all thought to entail a lot of quantitative calculations, with facts and formulae telling us just what to do. In the real world, people do not make financial decisions using spreadsheets. Personal history, your unique view of the world, ego, pride, marketing, and unusual incentives all mixed together around the dinner table or in a conference room. The author provides 19 short stories in Money Psychology that explore the unusual ways people think about money. G Quotes on vegetarianism https://www.brainyquote.com/topics/vegetarian-quotes My own view is that being a vegetarian or vegan is not an end in itself, but a means towards reducing both human and animal suffering and leaving a habitable planet to future generations. Peter Singer Peter Albert David Singer AC is an Australian moral philosopher, currently the Ira W. DeCamp Professor of Bioethics at Princeton University. He specialises in applied ethics and approaches ethical issues from a secular, utilitarian perspective. H 1) Continued from A2 Reasons for the slide: The rupee depreciation can be attributed to multiple global factors that are out of the Indian government's hands. The US Federal Reserve's aggressive monetary policy tightening after a prolonged loose state has led to a massive outflow of foreign portfolio capital from India. Under a tight monetary policy, the US Fed raises interest rates to control the money supply in the economy. This makes it more profitable for investors to save money in the US than to invest in India. The Ukraine-Russia conflict is a factor too, as the Western sanctions led to an energy price hike around the world, leading to an outflow of dollars besides disrupting business relations between nations. Covid-19-induced supply crunch has led to reduced manufacturing, while the pent-up demand in economies is leading to soaring inflation, which further leads to an even tighter monetary policy. RBI standing firm: Governor Shaktikanta Das has maintained that they have zero tolerance for volatile and bumpy movement in the rupee and added that the central bank's actions have helped in smoother movement. He said the RBI has been supplying US dollars to the market to ensure adequate supply of liquidity and also clarified that the central bank does not target a particular level for the currency. Das said there was no need to be alarmed by unhedged exposures on foreign borrowings. The bulk of such exposures are by state-owned companies and the government can help out if need be, he added. The inflation targeting framework has worked well since adopting it in 2016 and should continue in the interest of the economy and the financial sector, Das said. Relief underway: Despite this being a globally induced crisis, the Government of India along with the RBI is taking measures to strengthen the rupee. Earlier this month, the RBI announced new liberalised rules to attract foreign inflows. It also raised the overseas borrowing limits for companies. The government raised import duty on gold imports. It also increased interest rates in recent months, thus increasing the attractiveness of holding Indian rupees for residents and non-residents. Blessing in disguise: In spite of the dire events, India stands to gain from this rupee slide to an extent. The depreciation of a currency is likely to enhance export competitiveness, which in turn impacts the economy positively. The depreciation also impacts imports by making them more costly, thus providing an incentive to raise production capacities domestically. The currency slide may be good for businesses in India. Even at the current levels, the rupee is looking very attractive. Over the last week, on four of the five days from 14 to 20 July, foreign portfolio investors were buying equity in India (Rs 7,012 crore on 20 July alone). Moreover, the bounce-back will be strong once the market senses that the US Fed’s rate hikes have reached their apogee, possibly sometime in early or mid-2023. What lies ahead: A lot depends on how much higher US interest rates have to go before the Fed starts going slow on targeting inflation and starts backing growth. As long as the US rates keep rising, the RBI cannot keep rupee rates low. The Indian picture: India is likely to grow at 7 per cent or more this fiscal, while the US is staring at a possible recession by early 2023. Bank balance sheets in India have never been better over the last decade, and tax revenues continue to be buoyant as of now. The actions of the RBI and Government of India have yielded good results so far. The current equilibrium in the economy should, therefore, remain despite the global shocks. S Thyagarajan Another write-up shared by Shivram Shetty Ex-RBI Mumbai : Rupee@80 Is No Reason To Fret; Anyone Who Bets Too Much Against It May Be Making A Mistake by R Jagannathan Jul 22, 2022 The rupee may rise or fall, but India's economy will keep rising, even if it’s at a slower rate. A Reuters report, quoting a “senior source” who apparently knows the Reserve Bank of India’s (RBI) “thinking”, says that the bank is willing to spend up to $100 billion to defend the rupee. This would be more than a sixth of current reserves of $580 billion, including gold. The report is likely to be misleading or a deliberate plant intended to confuse the market about the central bank’s intentions, not a specific clue about how much of a war chest the bank is willing to expend to pursue a futile exercise. The RBI’s officially stated position, which is the correct one, is that it will intervene to prevent undue volatility, not try to defend any particular value of the dollar-rupee exchange rate. There is no reason why it should indicate the size of its war chest now, or even that it can spend large amounts of dollars to keep the rupee stable. The truth is, the rupee’s relative fundamentals are all in the right zone. In terms of inflation differentials, real interest rates or potential growth rates, it is far more profitable to hold rupee than dollars. The difference between the RBI repo rate and the US Fed’s target rate range is more than 3 per cent, and India’s retail inflation is at least one-and-a-half per cent lower than US inflation — a rare situation in recent decades. Also, India is likely to grow at 7 per cent or more this fiscal, while the US is staring at a possible recession by early 2023. Bank balance-sheets in India have never been better than now over the last decade, and tax revenues continue to be buoyant as of now. So, far from trying to sell a massive amount of dollars to hold the rupee up, the RBI would be better off expending only limited amounts of the greenback to reduce short-term volatility. And if the rupee is indeed destined to defy all sensible indicators that should inform the trajectory of the dollar exchange rate (ie, if it is going to slide beyond 80 — and fast), then the RBI should allow it to do so. The bounce-back will be equally strong, once the market senses that the US Fed’s rate hikes have reached their apogee, possibly some time in early or mid-2023. As the Bank of England learnt the hard way in 1992, when George Soros and other currency speculators decided that the British pound would sink lower, they short-sold and ensured that it did. The RBI does not need to find out the hard way that saving the rupee has its costs too. It is not a great idea to bet against speculators with lots of money to lose. To be sure, even at 80 to the dollar, the rupee is looking very attractive, and over the last one week, in four of the five days from 14 to 20 July, foreign portfolio investors were buying equity in India (Rs 7,012 crore on 20 July alone), which explains some of the bullishness in the market. This does not mean the rupee will henceforth be stable, or that the foreign investors will remain invested here, but it is one point to note. A lot depends on how much higher US interest rates have to go before the Fed starts going slow on targeting inflation and starts backing growth; as long as US rates keep rising, the RBI cannot keep rupee rates low either. But on a relative basis, India and Indian markets are the places to be. Neither the US, nor Europe (where the Central Bank just raised rates by 0.5 per cent after 11 years), nor China (where mortgage borrowers are defaulting and some banks and realtors are tottering) are in great economic shape. India is the obvious beacon of positivity in this turbulent world, and any investor who cannot see this, is making a serious mistake. So, my vote is for India and Indian resurgence this year and the next. The rupee may rise or fall, but India’s economy will keep rising, even if it’s at a slower rate.