As part of efforts to put an end to child abuse in the country, New Life Challenge Nigeria, that's an old governmental organization, in collaboration with Amy Gross Foundation has flagged an awareness campaign to sensitize parents, teachers and relevant stakeholders on its efforts on the society to curb child abuse. The CusKID project is aimed at teaching to recognize signs and symptoms of child abuse in schools, both in the rural and urban areas across the state. Habila Darufai found in this report presented from us today. Child abuse is one of the new signs that have eaten deep down into society, which must be addressed urgently to save the future of the young generation. Speaking at the flag of Imbanawa Kadena, the Executive Director of the New Life Challenge Nigeria, Mark Bishop Eji Keme, says the advocacy is to train the trainer, parents, teachers, stakeholders and the victims to know how abuse has contributed to affecting the lives of children in the society. He also urged the government to intensify efforts at putting an end to child abuse in the state. So CusKID is a project that intends to spark public and community engagement to see that we put an end to issues around child abuse. The project is going to run is that we are going to be training stakeholders, train the trainers, we are going to be training people who are going to be stepping down some of the things that we are going to be sharing. So by the time we bring people from the rural communities, we can go to a local government and conduct a training in secondary schools and do quite a lot. So we have already planned that out. We are going to train people who are going to step it down to their respective communities. Also the CusKID project manager Eji Omanwabo says child abuse leads to violence and addiction and must be addressed. He stressed that one out of every seven children is abused. There are laws protecting the rights of children. Now we want the government to make such laws very effective. It's not as if they have not been trying. They have been trying. Cases that are reported to them, they have taken care of somehow, but we want it to be more elaborate now. Some of the participants expressed their delight in the project. Because we are girls, that doesn't mean we are weak, but actually we are strong and we should not say that because I don't want this stigma to be on me and keep quiet, we have to talk out and let the world know what we are passing through. Expanded my knowledge on child abuse and some sectors which I didn't know about and I got to know more about the police involvement in stopping child abuse. Child abuse generally is just like another child being abused is like me being abused. So whatever I learn, I don't have to keep it to myself. In attendance are police officials, school principals, teachers, parents, students and other critical stakeholders.


Jordan Nandino here, and this Valentine's Day, I'll be celebrating with my one true love, the lec-crusay black heart cocoa. And of course, my sinigang recipe. So let's do this. You know, it's important to invest in quality cookware like lec-crusay, because it can help you create delicious dishes in your home kitchen for generations. I love that lec-crusay's colorful enamel is long lasting and resists chipping, cracking, scratching, and even stains.  So it's a perfect dish to make for you and your loved ones. And that's it. Just like this recipe, the lec-crusay black heart cocoa just exudes love. Whether you're a beginner, just starting your cooking journey, or a seasoned lec-crusay fan looking to add a fun new piece to your collection, this piece makes a great addition to any kitchen. Get it now on lec-crusay.com and find my sinigang recipe in the caption.


The federal government has jacked up the electricity tariff for Band A customers. Band A are those who enjoy electricity supply for 20 hours per day. At a press briefing in Abuja on Wednesday, Mosulio Oseni, vice chairman of the Nigerian Electricity Regulatory Commission NEG, said the increase will see customers pay 225 Naira per kilowatt per hour up from the current 66 Naira. Oseni said these customers represent 15% of the 12 million electricity consumers in the country. He added that the commission had also downgraded some customers on Band A to Band B due to non-fulfillment of the required hours of electricity provided by electricity distribution company. Only less than 15% of the customers will be affected. And you recall the number, I'm sure you are aware of the number of customers we have in message and these are the customers that have been proven to be enjoying 20 hours average of solar. We are determined that customers will get this service and we are going to enforce that. And we have started by ensuring that all the feeders, the discourse were previously, many of the feeders, they were previously bandishing as Band A feeders have been taking us. We say that you've not be able to prove empirically that you are able to supply Band A service to these feeders. So those are things we are putting in place. And don't forget to hit the notification button so you get notified about fresh news updates.


Good evening. Last month I told the world loudly and boldly that TF2 was over in what was probably my most controversial video ever. I felt very confident that six years of radio silence from Valve, even in the face of a nationwide social media campaign, meant that they were intent on never working on the game again and that this massive content leak was probably the last drop of official Valve made TF2 material you or I would ever see. I honestly was trying to brace people for what I expected to be the game's dark ages. It wasn't just my opinion. Most veteran players were in agreement that the game's state was effectively abandoned, save for a mostly automated community content induction system, and that if save TF2 couldn't help it, nothing could. Well today, I'm left looking like a fool, okay? Today, I get to have egg on my face, because something just happened that really nobody saw coming. Valve just put out a blog post on the Team Fortress website with the absolutely ground shaking reveal that quote, The last few Team Fortress summer events have only been item updates, but this year, we're planning on shipping a full-on update-sized update with items, maps, taunts, unusual effects, war paints, and who knows what else. That's right, we have an announcement from Valve that for the first time in half a decade, a full-scale TF2 content update is coming that is not only going to be the biggest event the community has seen in years, but that their kind of hinting may or may not include new balance changes and new weapons. Valve is officially making a yet unnamed and unthemed, but still very exciting summer update for TF2, and if you've been in the TF2 community for any meaningful amount of time, you know how big of a deal that is. There is a huge number of people playing this game who have never actually seen a proper content update. It is going to be historical when this releases. Who knows, maybe this is the start of a second win for the game, and maybe soon we'll get some serious resolution on the bot crisis. Okay, I wouldn't hold my breath on that one, but without making this announcement, I wouldn't say anything is off the table. Of course, this announcement makes me look very stupid for that shitty video I made last month, but if me taking the L on that means we're getting another update and the game is finally getting more love again, then so be it.


Okay, here we are. Fantastic Melissa, thank you. Elaine is with me. Let's review the market, welcome everyone. My name is Melissa and I'm reviewing this market and I predicted that this market would drop. It was a great call. I predicted that it would drop on Tuesday night at 6.40 at night. I was watching the market there and I saw that a big sell-off and a big drop was coming. Then we rallied the next day. I held the conviction. Then we gaffed down here. I've called puts in so many different days. We call, I called puts here, I called puts here, I called puts many, many days. I've just lost track of how many puts I've called quite frankly. I knew that we would break this. We haven't broken it yet, but we will. I was surprised we didn't break it yesterday. Did it matter? No. When we gaffed down today that I knew that we were gonna fall today. And in fact, I'm gonna read the talking points that I said to the TV people. I'm gonna read them right now. But anyways, where do we go from here? We're lower. And we are gonna break this right now into the closed here. We're gonna sell off and the diamonds already broke this. So a lot of people buy dips in the market. A lot of people buy double bottoms in the market. A lot of people bought this market here yesterday but not me and not anyone that trades with me if they're following the trades that I'm calling out on the options letter in the day trading room. This was a great call for many, many reasons but one of it was because it didn't go easily. I said that over and over and every day literally I was reminding myself that I was reminding everybody that this isn't gonna go easily. That this isn't going easily. It's not going easily. It's gonna go easily any second. Probably between now and into the close it's gonna go easily. Depending on how we sell off, how big we sell off and where we close today. It's very difficult to see where we're gonna open tomorrow morning. What could happen is that we sell off really big into the close and then sell off after four tonight. But then because the White House is maybe doing a press conference tonight that could create then a move up late late tonight into early tomorrow morning. So I don't know where we go tomorrow morning because of that. Because the administration is trying to prevent the sell off but it's not gonna prevent it from happening right now and it really hasn't prevented it from happening the last week. But the market kept trying to hold up but I knew it was gonna let it up and we were dropping all along the way anyways. But the fact that people bought this double bottom yesterday was one of the stupidest trades I've ever seen people take. And literally almost every person that I heard talking on TV in the last two days told people to buy the dip. I had people last week telling people to buy the dip and if you bought that you lost money and we're down. Here we go. Let's watch this happen here live. 273.50. Still not going easily. And one of the reasons is Apple. Apple's finally red but not that much. I mean Apple just does not want to fall. People love Apple. People will buy Apple no matter what. They think this is a cheap price for it but it's a lot cheaper at 250, 240, 235. I don't know if it goes there but it's a hell of a lot cheaper there than it is right now. So Apple's gotta sell off. The banks have gotta sell off. JPMorgan Chase has to get down here to this area and break it as well. These banks have to start seeing selling, selling, selling and then you're gonna see all of this pulled down. Now Boeing has been selling off. This is gonna go to 190, 192 it looks like today. Oh my gosh, an hour and a half left to go. This is just straight selling down here to the end of the earth. This was a great call for many, many, many, many, many ready reasons that I ought to call this perfectly simply because of the fact that mostly I focus on shorting and that is what it's a class I do every month and if you don't know how to short and you need to give me an email and do the class on March 21st and 22nd. So let me read the talking points here now and if some of you here that are listening here from the class that weren't in the room this morning I'm gonna read the talking points. Oh look at this here, we didn't look at this here we're actually bouncing here. Look at this here. Can you believe that we're actually bouncing here? This is really kind of funny. 273.84, 273.50, 273.45. So we didn't even touch it yet and we're kind of bouncing here. That's really funny that people actually are actually buying here. That's like kind of really even almost hysterical besides the fact is insane. All right, here's what I said today. Oh, this is a good write up. I just full on laid it out and I was right. This out this morning at 804. The market is gapping down today on a day that most people thought we would see buying due to a rally yesterday but yesterday was a lackluster rally in my mind. We simply are going to drop full stop and the selling is going to come in big time. We're seeing that right now. But we're gonna see it more by the way. I saw this last Tuesday night March 3rd at that point no one may have believed me but I was right and I'm often right on my market call. I've been calling shorts from my clients and puts and bowings by cues, cue, cues, diamonds which have been steadily dropping since March 3rd. As for why we're dropping, companies are seeing a drop in the business and therefore in revenue due to the coronavirus scare. Meetings and events are being canceled and people don't want to travel or shop in stores. Companies are taking precaution to protect workers but they also need to make money. Well this has not only been going on for a short, well this has only been going on for a short time. The fact is that no one knows when the scare will end. Trump lifting payroll taxes, that's what they were talking about last night, will not solve this problem and I don't think it will even make it better for any length of time. It's like putting a band-aid and a gunshot. Some say it won't end until a vaccine is created that works. Some say it will get much worse until it gets better. I say the market is always a forward indicator of things to come, meaning the market sees things ahead of time and reacts immediately. Right now things may get worse a bit before they get better but this is not the end of the world. Companies and workers have amazing ability to come back and so does the market. For now all the people I've been hearing on TV last week and this week have been suggesting people buy here or last week if you bought last week we're down or lost money, by the way. Buying dips is a terrible advice in my opinion. One of the reasons I saw this sell off so early is because I read institutional buying is selling in the gap. It is the money that comes in that moves the market in the post market and pre-market hours. Retail traders simply do not trade that timeframe hours. There's low volume, wild moves and not the same margin. Institutional money is not buying here. Therefore people should not buy right now because the market is lower. The life the market saw yesterday was retail traders buying what they thought was a bottom from Monday and Tuesday which by the way was a terrible trade. Buying bottoms is a terrible strategy and if I ran a hedge fund I would not be buying here. I would be either shorting or waiting to buy and some day I may start a hedge fund because the way of an accurate prediction in this market direction is absolutely perfect. I actually said that today and man was I right. I'm very good at reading institutional money in the marketing gap so it is something very, very special and very unique that I taught myself how to do. It is the reason I've successful business for the last 12 years and why I saw this all off this week and last week and it is not over. When the time to buy comes to I will know that beforehand as well. Big funds move the market, not active traders and unfortunately people on TV too often tell people to buy early and people listen and then get upset with the market or TV people. Active traders should know what they are doing to trade this market and people should always know what they're doing to risk money. Trading and investing is risky and when you don't have a set specific strategy to follow you will lose. If you know what to do, you will win and make a lot of money as my clients have been. There is not a place here now that I would tell anyone for the short term to go long anytime soon. Some of my clients are already asking me where we stop dropping and where to buy. I say I can't tell you where to buy yet and to me that means we're going to drop and to be honest, we might even tank. So this is what we're waiting to see. We're waiting really to see here if we're gonna tank. This isn't tanking yet, this is just selling. I'll show you what I mean by tanking. In fact, if the economy were not as strong as it is we would have already tanked. That was a great write up. Okay, let's go on to what Apple's at 274. Tell me what Apple's at 265. I mean, honest to God, it's like, this is not, I mean, this is not enough. Tell me what Apple's at 265. Then I'll look at this chart, it's annoying. This is the only reason the market hasn't sold off yet. That is holding the market up and Boeing is dragging the diamonds down. This is that, this is insane. Like the fact that I even called the day trade in this today, I'm so glad we went after this like every single day, I never let up. All right, what does tanking look like? Somebody tell me anybody, what's a tank? Tanking would be, let's see if I can find a tank bar. It's been a long time. That's kind of tanking, but not really. I can only go back to 1999. I can't go back to 1987 on my charts. This is kind of tanky looking here because again, this straight down fell here, but it did it like in a week. Look at McDonald's. I'm trying to find an example of tanking. This is, look how hard, look at, look at how this isn't giving it up. Like it's going to give it up, but it's like, look at this even now, this doesn't want to give it up. Like this doesn't even want to give it up now. Like the fact that people are buying here is like so utterly, utterly. It's like, I just want to laugh. Let's look at that MCD. Well, tanking is Boeing. There, I'll go back and look at Boeing. Tanking is Boeing. That was kind of tanky. I said he could have shorted anything today, I was right. This is tanking here. If this goes to 192, 190, 190 today, this is tanking. Boeing is tanking. If it goes to 190 today, it'll be 30 point drop. That's not another question either. We got an hour and a half left in the day. Tie of the day here is almost 227. Right now we've gone ridiculously. So if this goes to 190 today, it will have gone almost 30 points. It would have gone 27 points. That's tanking. So a tanking is a 20 point drop plus. So a 20 point drop plus, like a 15, 16, 20 point drop, 260 here in the spy. This is here it goes. I mean, and 230 is looking up here in the diamonds. I called it, it was a great call. And the reason this was a great call, again, just to review, is because we didn't go easily. I saw it well ahead of time. So early, I saw it last Tuesday and I held the conviction even though we rallied here and here. So to everyone that stayed with all these trains, fabulous job and congratulations. And I'm giving myself a round of applause even for holding the conviction as well. It's the gap that told me what to do. It was the gaps, every single gap in here that I rated, every single day that I was rating them, the bearish gaps, the bullish gaps, to know that the bullish gaps weren't good enough to go long and then to know that the bearish gaps were ones to react on and take and short. It was both the bullish gaps and the bearish gaps that told me that the direction was lower. The bullish gaps weren't good enough to go long and the bearish gaps were all good enough to short. Although you're waiting for the tank, there were many trades in here that you could have book profits in as well. This is not giving it up easily. And the reason is out that people are trying to hold onto the stubble bottom and the fact that intrinsically the market is strong but you can't stop the selling when it comes in. You cannot stop it. Just like you can't stop how fabulously I am reading this. I cannot be stopped. My calls have been extraordinary. See the examples have been very useful and helpful. Yes, Elaine, thank you. Zen trader, how are you doing? How much money have you booked today and how much are you up? Give me a notice here. I mean, Elaine, did you book any of the Boeing's here today? I mean, this is the one that you could have already booked if you wanted to. Let me just see if there's any other news here. It's only Wednesday. And again, I had no idea that they were gonna come out to say that there's a pandemic. I had no idea. Dow Jones industrial average, down 20% entering bear market territory. Again, we're not, I wanna clear the air here that the market's still bullish. We are not bearish yet in the market, just so you know. I'll look at that tomorrow to see those numbers. House Democrats have unveiled billed increase sick leave. I don't see anything different here. You booked about 5,700 today and 2,800 yesterday. Okay, that was good. That was great. Was it all in Boeing or some of the various things? Let's just watch this still off here. Zen trader, where are you at? Give me a heads up. How are you doing? I know you have a lot of trades on. Actually, let's look at our favorite Tesla. Tanki, Tanki, Tanki. What is Tanki and Tesla? 500, 450, 400. I mean, this is like, in fact, let me just look at some of these things. That was all Boeing.  And I think everybody's gotta watch the dates and watch the things, we wanna wait for the Tanki. So I was gonna say, this is a great call. Zen trader, how are you doing? I know you said earlier you booked 9,000 today. I think there was on Boeing, I'm guessing. How are you doing with everything else? So everything I called today that was new today just went right, right, right, right up. I mean, everything today that I called it was new today just went positive immediately. So the ones outstanding, oh my God, look at this here. We didn't break it yet. Like, we will today now, we will. But look at this. Can you, the, me, he, he, he, he, he. This is insane. Did we, we didn't break that yet. 3345, 27360. Oh, probably, I don't know.  And if we don't so often break this area today between now and 359, then we're gonna gap down tomorrow and the gap will break it. I know that as clear as day. But I'm like utterly shocked that this didn't just do it the second. This market isn't going easily, but the fact that I can see that it's going is great. All right, listen. If you're interested in the Golden Gap course, email me at melissathestockswish.com. See the rest of you whenever I see you. Great job everybody that's booking money. Great job everybody that held the convention that did the trades. Just make sure to book profits along the way, but make this market pay you. Make this market pay you now. We got it. I had a fabulous, phenomenal call here. I can't, this is, I mean, this is probably a better call than the Tesla's I called, simply because of the fact that it was a very, very challenging read. But I double-triple-checked myself every day in the gaps. And here, here we may do it now. Let's just see if this does this right now. Here are 230. Let me just look and see if there's anything else out. Does anyone else have any other questions here before everybody go? Oh, I don't see anything different. Stuff done here. Good luck everyone. Congrats and have a wonderful day.


In this video, we're going to connect Bookmap 7.3 or greater to Ninja Trader 8. Please make sure that both Ninja Trader 8 and Bookmap 7.3 or greater are already installed on your computer. If you use Rhythmic or CQD data, it is possible to connect it to Bookmap and use it. We'll cover it in another video. Click the link in the description to watch it. The first step is to establish a connection. We need to make sure the adapter for Ninja Trader is installed. For this, go to Settings, then Manage Plugins. Make sure the Ninja Trader plugin is installed. If you don't have the adapter installed already, scroll down to find the list of adapters that are not installed and install it. If you had to install the adapter, please restart Bookmap. If you didn't, like me, you can continue. Now, after checking we have the plugin installed, let's establish the connection. Click on Connections, then Configure and Add a connection. In the Platform drop-down window, select Ninja Trader. There will be a list of instructions on how to connect to Ninja Trader. We'll cover those now. Click OK. Go back to Connections at the top left and select Ninja Trader. Let's open Ninja and make sure it's connected to the live market. Next, import the proper Bookmap Ninja script. For this, select Tools, then Import and Ninja Script Add-on. You'll find the Bookmap Ninja script in your local C drive under Bookmap, then NT. Select Bookmap Ninja Indicator. I've already imported the Ninja script, so let's move on to the next step, which is opening a new Ninja chart. For this, select New, then Chart. And we'll select here the S&P Mini and open a simple one-minute chart without any indicators. Click OK. In the new chart, click on the Indicator icon. Scroll down and double-click on the Bookmap Indicator. Make sure it's added to the configured section and click OK. Bookmap should automatically populate the chart. If you are prompt to select a proper account, please do so. Note that the live market must be open and a tick must occur for Bookmap to open. In the event that Bookmap did not populate the chart, go back to your Ninja chart and hit F5. Bookmap will then populate the chart. If you want to add another symbol to Bookmap, open another chart in Ninja and add Bookmap as an indicator to that chart. You'll see that another tab with that instrument will open up in Bookmap. Please note that if you have a level 2 data subscription in Ninja Trader, Bookmap will only display 10 levels of depth from the best bid and ask. If you have level 1 data subscription, you will see only the top of the market data in Bookmap, which means you only see the best bid and ask. These two charts are fully synchronized, meaning if you trade through Bookmap, you will see all the orders in Ninja and vice versa.


How's it? How's it? There is good light and then there is bad light. That's one of the biggest fallacies in photography. All light is great. It's just you have to know how to use it to its fullest effect. Golden Hour is a great example of light that is so easy to use that even my four-year-old could probably take a great photograph, or at least a lovely-looking one, at least I would think so, right in that period. But grey light, this murky northern hemisphere kind of well what the Scots call drick weather, right, is closing in upon us. So I thought that rather than encourage you to turn your attention to things indoors and shy away from the autumn, is to learn how to use this light in its fullest because there are some wonderful photographs just out there waiting, if you understand the quality and the nature of the light, how to harness it properly. During the summer months we are confronted with these clear blue skies, at least occasionally here in the UK, right, and great saturated colours, you know, the primaries are like really popping off there and stuff. But when we start turning our attention to the autumn there are those leaves, especially in sort of you know America and Canada that go through a riot of colour and you don't really get the same sort of saturation. So what you'd want to try and do is to get the colours to pop on a grey slightly overcast day where there isn't this kind of light bouncing off it to give it that saturation, is to contrast the things against a darker background. One of the quirks of photography is that when you contrast a colour or some light against a darker background, say a storm cloud or a hole in the forest where you can have the leaves against it, then it makes that colour feel more apparently saturated and like wow gives it some pop. So think about that, if you are trying to you know bring those colours of the leaves from fall out is to try and find a way of contrasting them against a darker background. And of course the very flatness of the light that you're working with when photographing out there is a huge benefit because during the summer we're working with a very specular light source, very tiny, you know if you look up in the sky the sun is so small so that gives you those harsh shadows, those very defined outlines to whatever is you know being creating a shadow and that's great but during the winter or the autumn when the sky is one big cloud it is a giant soft box and that is why the shadows disappeared because the the larger the apparent light source in comparison to the the subject being photographed the more defined or sorry the more soft the shadows. So that's why you have no shadows on a cloudy day because the light source is the entire sky whereas on a sunny day the light source is that tiny pinprick up there. So that's all a very long-winded way of saying that during the autumn and the winter when it's cloudy this lack of shadows means that you can play with tones a lot easier than you can when you are photographing during the summer for example because you're not having to deal with the shadows that you can explore going back to the idea of the leaves again you can explore the different subtle changes that you're now rather than looking at texture because of that strong light giving it definition but you're looking at pattern you're looking at creating an abstract and there's a little aside here Ansel Adams you know he was asked about using the word abstract in his photography and he said well the abstract kind of says that you are making something from nothing but what we are doing is actually is extracting detail from the things in front of us and I love that idea so we're going to extract these patterns and the shapes and the things that we see so use this to your advantage of course the same goes at the opposite end of the spectrum if you are thinking about landscape also people photographing people during the winter gives you a chance to create these lovely tonally rich portraits I'm a sucker for black and white portraits so naturally I'm going to lean towards that sort of thing but this is where you see these photographs of people that seem to throw out the rulebook you know we're told that you should have shape and form and and directional lighting and some shadows or something to give dimension to the face in photography but when you go the opposite end when you photograph on a cloudy day when it's all just overcast light then something magical happens I can't quite put my finger on what it is but there's a feeling to these portraits that makes them feel almost ethereal when you are photographing in the autumn or the winter you want to be mindful of the kind of mood that your photographs are going to have to rather than fight against the mood is to try and enhance it in my mind winter and autumn are really about quietness about introspection about after the hecticness of summer to sit back and just take stock of things so when you use those moods or if I were to use those moods in my photographs then it is playing to the strength of the kind of light that's where we kind of end up with this idea about good light and bad light it's you know trying to make or try to expect certain types of light to behave in a way that is completely opposite to what we want and then get frustrated because we can't do that I mean if you're trying to photograph you know somebody who is strongly backlit with all these you know sun bursts and all sort of stuff you need sun you can't do that obviously with a cloudy day on a cloudy day understand that you're not going to get that separation between things so how can you use that to your advantage how can you decide well okay I don't have strong shadows to give a sense of motion and movement and stuff but what else could I do I could do a long exposure for example cloudy days overcast days are wonderful times to practice long exposure if that's the kind of thing that you're into or getting wonderfully toned black and white prints I said earlier you know you don't have to fight with it it is it is such a wonderful tool a gift to the photographer who is trying to you know learn about creating a tonal range because you're not dealing with extremes in the same way that you are during the summer months or during directional lighting of course not all gray skies are created equal are they no no no so because of course you know a gray day with lots of different clouds and you know layers of of interest in the sky is wonderful but a day when there is just that kind of murky flat what looks like a puddle of chalky water in the sky is not going to do you any favors if you're trying to shoot a grand landscape so if you're confronted with that kind of day think about changing your approach just thinking about going into photographing details tiny subject things that would be difficult to photograph in a sunny directional light kind of day you know I think in this respect of pictures like Bob Carlos Clark and his stones that though I have a feeling that they were photographed in a studio they have this quiet look to them that you can now make sculptural kind of photographs that have a wide range of tones within them that the the grayness of the autumn and overcast days is a blessing to the photographer who is trying to come to grips with creating tonal ranges in their photographs you're during the summer and during directional light and like on a day like today outside where there's a very blue sky despite the fact that's beginning of October and and I can see that this would be a challenging environment to have a novice photographer create a picture with a wide tonal range in it but the gray days because everything is compressed gives you a chance to create a print especially in black and white that has a wide range of tones because you're not having to work out crazy exposures you're not having to push and pull things and jiggle histograms around and so you can concentrate on a little bit of dodge and burn a little bit of creating some depth to that photograph because those tones are so smooth long exposure photography is a prime example of this you know when they are photographing in gray overcast days that the sky becomes this almost like a river you know when there are those clouds to use another Scottish word scudding across the sky it is like amazing so the next time that you are confronted with light that you think ah this is just gray and rubbish don't just dismiss it out of hand because it's not dramatic because it's not you know this kind of jaw dropping owed majesty of nature kind of thing embrace the the solitude of the of the time play to its strengths you don't have to think about it too much just react naturally to it don't force it and let see what comes and presents itself to you to help you take your black and white prints from just gray flat images to sumptuous totally rich wonderful images i put a video up on screen here which will talk you through the whole process of getting a great black and white photograph thank you ever so much for watching and i will see you again soon


Welcome back to Afternoon Express on 3. Now, it's that time of the show. It's time for Winner Home on Afternoon Express, where we follow our three talented young design contestants as they turn three empty apartments into dream homes at the Polo Village at Felderby Estate in the Cape Wildlands. And the best part is that you, the viewer, stand a chance of winning one of the completed apartments valued at over three million rand. Now, this week, we met our three Winner Home judges, our property finance expert, as well as our three young design contestants. Joanne Fenter from Blumfontein and her mentor, the editor-in-chief of VC Magazine, so Min Fenter. Then from Durban, we've got Milen Tule and his mentor, the editor of Elle Decoration Magazine, Bill Bellingham, and Rudolf Jordan, along with his mentor, the editor of Real Estate Magazine, Michelle Snadden. In case you missed any of the action, here's one more look at our mentors. I'm Sumin Brink, and I'm the editor of VC Magazine. Because I've been in the industry for such a long time, my style is quite a complicated style. It's a little bit of new, a little bit of old, with a little bit of madness thrown in. I'm so excited. What I'm looking for is an enormous amount of talent, enthusiasm, the willingness to actually do the hard work, and just to be fearlessly creative. I don't think I've ever been a mentor to anybody, so this is a great challenge for me. And I hope we have a fantastic working relationship, because I think if you've got a good relationship with somebody that you work with, half the battle is won. Obviously, we are hoping to win, and hoping our contestant to win. And I think we want to show South Africa something that I've never seen before, something that is totally unique, and something that everybody wants to live in. I'm Belle Bellingham. I'm the editor of Elle Decoration Magazine. I define my personal style as evolving. I definitely have a tendency towards glamour. No matter what the trend is, I'm always going to gravitate towards things with a story to tell. What am I looking for in my design contestant? Someone who's very hardworking. You can be good at anything if you're really committed to working the hardest at it. I think also someone who just doesn't love with it as we are. That's the big thing about working together in teams. It's very trendy to collaborate and to co-create in all of these trendy words. I want to have some fun. We are styling. We are doing day-call design. It's a subjective, emotional, very personal thing. So I really hope that we have the same preferences. If we don't, I really hope we can be friends. My team work with me every day. They understand that they are tough, but I'm a little bit nervous that I might be a bit tough on the contestant. So I want the end product here to be really something spectacular. And in order to get there, you can't be a sissy. My name is Michelle Snabdin. I'm editor of Real Estate Magazine. My personal style is based around my story, my life story. And so for me, coming home is all about coming to somewhere that's really comfortable, but I love good art, photography, books. Home without books is a home without a soul. It's not just about the basics, about the soul space, and it's about your history. It's about your heritage, and it's what has a sense of meaning for you. What's really amazing is now that there are top architects working on those developments. It's so much more exciting, it's space to play and than it used to be. The trend is huge. I like to be a collaborative mentor, someone who helps network the young designer with the networks that we have in the magazine. When you move in a project like this, it's about the budget, it's the final vision for the development space that's really important. I really want to work with someone who's got quite a clear vision and to watch how those are shaped into a very defined competition space. The designer needs to work within that space, yet give it character, give it some meaning. Sure, our design contestants are definitely in the safest of hands. Now, it really is true when they say location, location, location. This season of Winner Home, we really are on one of the most beautiful locations in the country. Valdivy, located between the stunning family-friendly and particularly a culinary dream, Franschuk, this is where you want to call home for sure. Joining us on the couch again is Valdivy marketing director, Rek Niertling. I mean, you've had lots of places to live around the world and you've particularly chosen Valdivy as home. What is your favourite thing about living then? Why an estate living? I think for me now, you've got all the amenities that somebody like myself. I mean, we've got, soon we'll have three gyms so you can pick and choose where you want to go exercise. You've got more than 30 kilometres of, you know, running trails or mountain bike trails. You've got one of the best golf courses in the country. You've got the polar fields, all their question facilities. It's incredibly beautiful. I've travelled all over the world. I haven't found a place that has that beauty. And so for me, it's really everything that I need or ever dreamt of. No one, I definitely don't think anyone's ever going to be complaining about it, but I mean, I've heard a lot of people say that estate living or living outside of city centres is quite tough, especially if you're still working at the same time I want to commute and you've obviously had lots of options to live in cities, you've lived in towns. Why the choice to live slightly further out on a sort of estate as opposed to living in town centres? What are the benefits? Yeah, I think, you know, today, I think the whole sense of work has also changed. So we've got fibre to all the homes so you can work from home very easily. It's only 20 minutes to Durbanville. You can, if you travel off-peak. But, you know, Paul is growing and it's got everything that you need. I mean, I drove here in less than 40 minutes and you can come in for dinner if you want here. And so it's really got everything. And like I said, I couldn't be happier and especially for an active person and for young families. Really everything there and it's incredibly safe. I think about 60% of our buyers come from Khating. Unfortunately, it's not that safe in Khating and they're looking for safety and we know it as one of the safest estates in Africa. So the family can be very safe when the breadwinner has to go out there and go work. Yeah, and the state is always looking to expand.  And you guys have got the new polar village which has been built and that's where our homes are going to be this year round. What is so special about that spot and should our contestants be keeping something in the back of their mind about what they should be creating? Yes, it was a new product for us. So apartments, you know, historically we just sold land and people would build a dream home. Then we went for something a little bit different. You know, these apartments, they were designed by Stefan Antony who's arguably the best known architect, I think, in Africa. And so it's right in the hub. It's close to the restaurant. It's close to the action. That's why it's called the polar village. It's a lock up and go. So for people that live in Khating, if they want to fly down for the weekend close to Franschuk in the wildlands, all the restaurants is there. We've got a 24-hour concierge service. So, you know, spur of the moment, you want to book table at your favorite restaurant. We can do that for you if you need a ride. We can take care of everything. So it's really like a full service package. And I'm very interested to see what the contestants come up with. Sure. At least we don't have any other reason to live that you've just given us about a million, which is amazing. But what about the surrounds of the area? Because, Paul, not a lot of people know about, but I mean, it's like sitting in, like just close to Stelenbosch and that's one of the great economic hubs of our country as well. I mean, what are I in the surrounds? I know there are a lot of really good schools. It actually is a growing area that's going to be one you want to invest in. Yes, you know, Paul is a little gem. It's quiet, but it's beautiful. It's got arguably one of the... You know, some of the best schools in the country. So that's a big driver of our sales. We're pretty much right in the middle between Paul and Franschuk. And we're building a bridge across the Berg River that will make it less than 15 minutes into Stelenbosch. Obviously, the university is there. Some top financial firms have the headquarters there. So we really situated right in the heart of the Wynlands. And like I said, there's something for everybody, especially mountain biking. Now it's become such a big sport and you can literally just go out the gate and you're in the mountains and it's quite safe. One of our contestants is in fact a mountain biker. So I think he's going to be excited to explore that sort of avenue of where you guys are going in. Stefan Antony, obviously being the designer of the Polo Village, there's a lot of collaboration going on here. And we're getting incredibly excited about this collaboration. I hope you are too. And what are you most excited for with Wynland? Yeah, I'm excited to see, obviously, how they interpret the estate. And I think this year, obviously, I've, you know, like I've also followed the show over the last couple of years, but I think this year the teams are, you know, all this expertise and experience there. So it's going to be really something special. And we're going to be able to sell it again afterwards. And I'm very excited to see that. Exactly. And hopefully we get some ideas for future phases that we can launch and we can take their inputs and design an even better product. They're young and they're super talented and they're locally produced, which is really exciting. Right, it's so good to have you. I hope we'll catch up with you as we go. And I'll probably be seeing you in the Polo estate a few times throughout this period of Wynland. Cool. Thank you very much for having me. Sure, it's an absolute pleasure. This place is absolutely breathtaking. I can tell you that much. I've been there enough times to know that I'm going to call this place home at some point in my life. It offers more than just a home, but a lifestyle. It's perfectly situated and beautifully designed. And this is truly one of a kind. Now, every weekday, we follow our talented three design contestants as they turn empty properties at Valdivia State in the Cape Wynland into dream homes using finishes provided by Caesar Stone and Plaskon. And the best part is that you can enter the grand prize competition on privateproperty.co.za. You can stand a chance to win a finished apartment. It's valued at over three million rand people. Now, Winner Home is proudly brought to you by Private Property in association with NetBank. We'll be right back.


Okay, let's just continue with the modeling. Also by the way I completely disabled the screencast keys now since it was kind of broken for the current version of Blender that I'm using, so I'll just have to deal without it. So what I'm going to do now is, I think I'm actually going to delete the quad sphere over here. I'm going to click on this collection over here, Settler. You can see that it has this white little outline over here in the background, which means this collection is now the active one, so any new objects will be directly placed over there in that collection. One thing I would like to adjust right now with the background images, I want to place them a bit downwards so that they're actually touching the ground. I'm going to place them a bit further into the ground because you can see that the feet are drawn in a bit more of a three-dimensional way, even though the ground would be completely flat over here, so I just want to get the height kind of correctly. So this is kind of, yeah, this is sort of the height that we want. That should be good. On the side, of course, it doesn't match completely, so we'll just have to deal with that. I'm going to save, and now I am going to place some objects. So first of all, let's actually, might have actually been a mistake to delete that cube, but I'm going to bring it back. I'm going to subdivide it two times with control 2, control A, visual geometry to mesh. This will immediately apply the modifier, and then I'm going to, oh yeah, change the pivot point to median, so it's orientating around the object itself, I'm going to place it over here. I want to align this over here with the shape right there. I'm already going to add another subdivision surface modifier, and I'm going to go in here and in mesh transform, I'm going to use two-sphere, which is shift-alt-S, and I'm going to press one, and now it's more spherical, okay? I'm going to delete the top side over here. I might actually, nah, just going to increase the x-ray slider to one, this way I can still see through the geometry, even though the faces are completely opaque. And I'm going to delete this side, okay, now I'm going to extrude this up, and I'm going to extrude this in along the y-axis, so now we have this shape over here, I'm actually going to delete one side over here and add a mirror modifier and enable clipping, this way it will never move past the center axis, and once it's in the center plane, it's going to just snap to it and not let go anymore. So now I can just select all of these faces, move them over to the side, actually, if I go to wireframe, yeah, unfortunately the face mask is not quite symmetrical, but that should be fine, move this over to the side, so we can have this nice curved shape over here. Hmm, actually, since I want this beveled curve to be perfect, I'm going to actually try something different right now, I'm just going to add a cube instead and just extrude that one, I'll just pull it down actually, and take the side, pull it over here, and yes, so we have this shape, I'm going to add another loop over here, I'm going to again remove one side completely, add a mirror modifier, clipping on, and now I'm going to select these two edges over here, actually these three edges, yes, because we want to have the bottom side completely rounded, I'm going to just bevel them, actually, before I do that, apply scale, this will make it a bit better with the transforms, yes, hmm, okay, so the bevel is definitely not completely uniform, so we did kind of have it right the first time, I'm going to remove this one though, oh yeah, again, reference unselectable, so I'm actually going to just temporarily move the object here over to the side, so it's at least matching up with the concept, and then I'm going to select all of this again, I'm actually like this over here, I would say like over here, that's kind of where the turning point happens, this is where the curvature starts, so I'm going to move this like this, and scale it up along these two axes, and move it kind of into position, okay, it's kind of working, then I'm going to move this over here, just sliding it across the surface by just clicking and dragging on the gizmo, and then pressing G again to enable the slide, and of course the same thing over here, might actually turn on vertex snapping, so I can snap them on the C axis with these guys, or at least, ah, I'm going to eyeball it, put this a bit up, and this one a bit to the side, actually, where's that line coming from, oh that's the, ah, it's not really great to always see those borders, can I turn it off, no, then that's also invisible, outline, no, ah, that's a bit of a shame, yep, there's no way of turning off those outlines, it's not really great, but I guess, at least it's a nice indicator of the center axis, so there's something to it, you can just interpret some advantage into this, okay I'm just going to add the sub-division surface modifier again, I'm going to remove these two faces over here, remove, I'm going to select these two edges, and use shift E to increase the sharpness, you're going to, if you press control E, you get the edges menu, and you got all of these, you could mark a seam, a sharp, or whatever, and this is it, edge crease, and what this does is, from a value, you can see it in the top left corner over here, it's going to replace the header, from a value of minus one to one, it's going to define how sharp this remains with the sub-division surface modifiers, so this can be really helpful when blocking out the shapes, I'm just gonna shade smooth, also just having my own experimental menus over here, but you can find most of this just in the right click context menu, okay interesting, I'm just gonna keep this on, I'm actually going to switch to the tweak menu, just so that I can just like dynamically push stuff around a little bit, right now I'm just kind of eyeballing it, but to be honest, since there is this little pole over here, mismatch topology, it will be kind of tricky to get this nice smooth shape going on, but I mean we can keep this for now, we can come back to it later, I'm going to add a solidify modifier though, it's going to collapse these modifiers over here, and I'm going to move this in, actually I'm going to put it over here, interesting, yes it's definitely the limitation that since we don't have an actual edge here in edit mode, we can't make it creased, that's interesting, what if I add an edge over here and crease this one, nope, still happens over here, so yes I should actually move the solidify modifier below, just so we don't get any issues here, of course the smooth normals are also kind of freaking out over here, since it's trying to average these, so if I go in here into all the way down into vertex normals, you can see that it's trying to average the normals based on these two faces, but actually, yeah on this one, but we can fix that, just go to normals, enable autosmooth, and anything below an angle of 30 degrees will be hard edged, so now it's splitting the normals into two directions, and we get this nice hard edge, cool, so this is essentially what we want, I'm just gonna bring back this guy to the side, okay, also good note is I actually do have more references on my left on another monitor, so that I don't have to have references images in blender or on my main screen, I can have as much space for my workplace as possible, like the space where I'm actually working on the model, so I'm just gonna go in here at a cylinder, so we have this little bolt right there, I'm just gonna make it like that's just 12 edges, is that enough, yeah this looks good, I'm just gonna rotate that 90 degrees, scale it down, scale it down along the x-axis over here, move to the side view, and we can see this little bolt guy over here, and now I can add a mirror modifier, but of course the mirror modifier is not going to mirror it across the center of the character, but instead the center of its own object origin over here, so since I had this little helper empty right here, what we can do is we can just pick that one either here in center, or click the little picker icon, pick it in the outliner, or as a little tip that I actually learned recently is you can hover over the little thing over here, press E, and then you get immediately the picker and pick it, it's all the weird little hidden shortcuts and blender, but yes it's not perfectly aligned actually with the surface of the mask, I'll just keep it like this with a little bit of thickness, yeah that's good enough, okay what else, we can just continue with the body actually, so I'm gonna start that with just a cube maybe a cylinder would be better, let's just add a cylinder, yes switch this wireframe mode, or you could also technically use x-ray shading and solid mode, but it's conflicting with the with the empties anyway, so it's better to just use wireframe mode, okay let's see, so we have the body over here, scaling it down the way over here and the body is actually pretty wide, so that's interesting, yes so now we have this flat face over here, we can actually extrude it one more time downwards, scale it down on the y as well, and now we have this little guy over here, we can remove the face, select all the edges with alt, select to get that boundary edge selected, and then with control f grid fill, and this is often not really working right away, but yes like this, so you can immediately fill in this entire patch, and then afterwards, just push this down as well, scale it down, scale this little loop up actually, by the way if you don't want to see this little pop-up window over here on the left side, you can actually disable it over here in view, adjust last operation, that's the window, you can actually toggle on and off any of these elements over here, so the tool settings in the header, or the toolbar and the sidebar, and I just made it basically a single like a simple pie menu myself, to like just toggle these elements immediately without going into this little menu, yeah it's just a little experiment, let's see how useful this actually is, right now it actually already feels kind of like an improvement, okay let's scale this up a bit to the side again, okay so we have this little guy over here, we can again add the subdivision surface modifier, let's actually, oops, it's actually actually I think I'm gonna, with alt control shift s, get the shear operator originally, but now I'm using, I assigned it to the shear tool, which is actually kind of nice, I love this little gizmo over here, where you can shear in basically any axis and based on the viewport, which is amazing, it's pretty useful, okay, again extruding upwards, I'm essentially just clicking, pressing z immediately and then having it constrained to that axis, that axis, okay and then add another loop over here, scale it down just slightly, scale this one up, so we have this nice little simplified shape, but yes, since we're subdividing it, we are losing a bit of volume, so that's not that nice, I do tend to remember the direction of the pie menu, so of all the different pie menus I'm using, but sometimes I'm just pressing the wrong shortcut, it's kind of weird, so I remember there was a discussion on the blender development about how many pie menu options there should be, should it be four by default, or can it be up to eight, should we have nested pie menus and I totally get, I think the sweet spot we landed on the eight options by maximum is pretty good, it's just another option to remember, but it's also interesting how, I don't find it difficult to remember where the options are, but I keep mixing up the shortcuts instead, it's like no one was even talking about that one, I'll just keep this essentially the same, selecting these guys, well I think I'm just gonna continue, I feel like I'm already getting stuck on individual elements too much, at this step it should really just be about blocking out the general shape, so I'm just gonna continue with that, so adding all the essential elements that we need, again the backpack is a bit misaligned, that's fine, okay moving this in, this in, so I'm just gonna again apply scale in object mode, just so the tools all work nicely, just gonna select these edges and actually I'm just gonna bevel them, and then at the bottom of the screen you can actually see some shortcuts, it's not very easy to read, but by default you can just click and drag and it's going to define the angle, but if you hit S you can actually define the number of cuts, for me this is really useful because I don't have a scroll wheel, I'm mostly just using a pen, so if you have a scroll wheel this of course not really an issue most of the time, but also you could adjust other options like clamping or switching to vertex only and all kinds of other stuff, so using the shortcuts while executing something is really useful, I'm actually gonna drag this guy as well, just bevel them once, nice, and then we have this extra shape on top, so this is pretty interesting, I might actually just go ahead and model this separately, let's actually see, see I'm gonna scale this down, actually it's duplicated, scale it down, I don't want to lose the original right now, so we have kind of this inner object and then we have the secondary one over here, oh yeah before I forget, split this down in the center, go to the front and just face selection, select all of this stuff and delete, and now we can add a mirror modifier clipping on, there we go, so now we have these two objects inside of each other, we can select, now we don't have to have to select anything, we just press P and then we get the separate menu and buy loose parts, and then anything that's not connected is going to be separated into its own little object, but yes we want to select this and press I, let's actually see it from the side and then wireframe, I, scaling it down, this up actually again, moving it to the side, so that it's over here, this as well, scaling it up, moving it over here, this scaling it up, moving it, actually I'm gonna make a little cut over here, removing the faces over here, so we now have this object left, now from the side, we continue scaling this up, moving this up here, you can also dissolve edges by the way, by just like going to edge select mode with two, or clicking over here, and pressing ctrl x instead of x, and it's going to just dissolve them instead of deleting them, pretty useful, anything over here, I want to get rid of some of these edges, yeah, adding some more just to keep the shape alive, moving this one, sliding this one down actually, box selecting this stuff, yeah, moving it over here, nice, and then moving this all the way over here, now we have this part, should have seen this coming, so if you also just scaled it like that, just without any care in the world, we can fix this by just scaling it down along the x axis to zero, placing it over here, and then we just need to align it with the other edge, actually let's just align it with the concept, so let's select all of these, scale them down along the x axis, and then again with a shear tool, we can shear this edge and place it back where it's supposed to be, same thing over here, shear, shear it in the other direction, maybe not, oh that's what the extra edges were for, so let's just add that one back, that's like the turning point, so we can keep that one, that one, and all of the other stuff over here, it's gonna get sheared, I actually didn't undo the shearing, bam, select, select, hide, select all connected over here, actually hide this too, so with L select all of that, and then with a shear tool, just shear it back, interesting, okay cool, that went well enough, I'm just gonna move this in now, okay cool, save, good enough, let's move this further in because this is the sort of inset that we have over here, yeah this is definitely still something to be figured out, how exactly this is supposed to look, but yes we can just continue to extrude this now, just getting the edge right, and then again selecting add extrude, interesting, yes I definitely need to first add this whole thing, also I'm using the f2 add-on, so if you just select a corner point, you can press f and then the direction that you cursor is pointing towards, you can just create a new face, a new quad actually, so that is pretty useful, just gonna select all of this and extrude it along the x-axis towards the center, and then just fill this in, there we go, this is all just really rough, but at this point, this can all be cleaned up further afterwards, oh, oops, okay actually select this entire face, just extrude it, okay cool, just gonna box select this, have a little couple times, box select this, bevel it, box select this, bevel, box select, no just alt select, sorry, okay, actually I'm gonna select all of this, let's try it actually, save loop tools, which I can actually really recommend and flatten, nice, oops, oh, this is all flattened, this can move further in, since it's kind of like a little bit like a snail just twirling inside of itself, until it disappears at this end over here, that's good enough for now, I'm not naming any of the objects yet, because we might still merge and split them randomly just to get all the shapes, so once we actually get more into like refining them and adding all the nice little details and definitely being set on actually using these objects, that's when we can start naming them.


Russian Navy defeated in Black Sea, the British Ministry of Defence believes that the Ukrainian forces managed to defeat the Russian fleet in the Black Sea. James Heapy, Minister of State for the Armed Forces of the UK in a speech at the Warsaw Security Forum, said this. During his speech, the official urged the International Society to appreciate the military achievements of Ukraine highly. Yes, Ukraine's progress is slow, but no one can say that it does not exist. You can point to the Kharkiv breakthrough as a model of success. But look at what Ukraine has done now in the Black Sea. Ukraine has achieved a functional defeat of the Russian Black Sea fleet. James Heapy said, commenting on Ukraine's ground counter offensive, James Heapy pointed out that every inch is important. UK defence intelligence says that the Russian Black Sea fleet will likely not be able to have the same control in the Black Sea waters as before and will also feel less safe in its ports after the latest series of successful Ukrainian strikes. Defence intelligence stated that in recent weeks, the Russian Black Sea fleet has suffered several serious attacks culminating in the attacks on its headquarters on the 20th and 22nd of September. The physical damage to the Black Sea fleet is almost certainly severe, but localised. The fleet almost certainly remains capable of fulfilling its core wartime missions of cruise missile strikes and local security patrols. It is, however, likely that its ability to continue wider regional security patrols and enforce its de facto blockade of Ukrainian ports will be diminished. It also likely has a degraded ability to defend its assets in port and to conduct routine maintenance, the analysts say.


Good morning everybody. Good morning ladies and gentlemen and thank you to you and you wider for inviting me to come and talk About the objectives of macroeconomic policy and a bit about development policy in South Africa My sort of career spans three parts one in the Treasury One in the Planning Commission and one in the Central Bank And so what I'll attempt to do is to try and give a bit of a flavor for how emerging markets think about macroeconomic policy in a development context I'll speak more generally at first and then talk a little bit about South Africa's experience In the last 20 years and then just to reflect on some of the present discussions and debates in the global economy today I'll end off with that. I guess one of our general views which is consistent with the with the Growth Commission report is that macroeconomic stability we see as a Necessary condition for economic development for poverty reduction, but certainly not a sufficient condition Macroeconomic stability However, you define it broadly. I guess the absence of crisis the absence of boom bust periods are generally positive for development They generally contribute both to poverty reduction and inequality reduction in general, but they of course not sufficient Microeconomic reforms the quality of education the quality of institutions the relationship with trading partners all of those things are Increasingly seen as determinants of good development strategy And so macroeconomic policy has to merely be seen as an underpinning a girding a chassis a foundation Rather than a the be all and end all of development policy Globalization has brought costs and benefits for emerging markets The benefits include the ability to export the ability to trade the ability to use the global economy to create scale economies back home And to import goods that are more efficiently produced elsewhere that lowers your production costs and lowest transaction costs at home The benefits also include easier access to capital, which is especially true for countries like my own Like myself the one that I come from which have low savings rates, but large investment needs Countries that are less open to trade in general have grown more slowly than countries that are more open to trade However countries that have liberalized their capital accounts slowly have done better than countries that have liberalized too fast And so that there's a general lesson there But those are the benefits it would be completely unfair to talk about the benefits of globalization Without talking about the costs of globalization and there are costs and they are significant those costs Workers in less competitive firms are often left stranded when global sentiment or dynamics change They're unable to switch easily to new sectors or firms When external prices change this has a spillover not only on the rest of the economy via terms of trade shock But exchange rates and prices as well To put it more crudely When the global financial market Happened sort of Lehman brothers collapsed in in in the u.s And the woman selling bananas outside a platinum mine was the first to lose her job Because there was the platinum miners were sent home Were about two months of pay And she had nobody to sell the bananas to the transmission mechanisms of the global economy are instantaneous Decisions taken in one part of the world affect the poor in very very disparate parts of the world in an immediate way And that's one of the costs of globalization. That's one of the costs And of course this cost is asymmetric because capital is free to move If the terms of trade change and and a platinum mine is no more viable Investors can quite easily get out of the platinum mine and invest in something else Invest in a garment factory in vietnam, for example, or in a services company in in california For example, and this asymmetry between the inability of low skilled workers to move rapidly from one sector to another Alongside juxtaposed with the ease of the ability of capital to move from one sector to another and one region to another Creates an asymmetry that in my view is one of the reasons why we've seen a rise in inequality globally The globalization has had benefits Don't mistake that they've had significant benefits for emerging markets, but the costs have often been increased volatility increased marginalization of low and unskilled workers And often insufficient gains for low and unskilled workers And of course at the macroeconomic level increased transmission of shocks to emerging markets Our challenge in macroeconomics is to maximize the benefits that globalization brings But to limit the cost and the poorest and to maintain macroeconomic stability by building resilience to external shocks And I guess the key question is is this possible? It's not yet clear whether this is possible In the long term we want to diversify our economies. We want to move up the value chain What macroeconomic policies could facilitate that? As a start we have what I would refer to as a multiple equilibrium or a multiple objective problem We want capital from abroad. We want to sell our goods to external markets We want to keep domestic prices relatively stable. We want to build resilience to external shocks We want to diversify towards non-traditional exports and we want to do all of this quickly When investors and politicians both have much shorter time horizons And how do you manage this multiple equilibrium problem in macroeconomics? What great difficulty I may add or suggest the use of evidence and research helps But prioritizing is important and that may suggest different priorities at different times It might be perfectly acceptable to prioritize price stability today But if you're in the midst of a financial crisis then price stability is the least of your concerns Protecting output and jobs is much more important And often the macroeconomic policymaker has to be agile enough to switch from one policy priority to another depending on the circumstances The key instruments that we've used are counter cyclical fiscal policy A shift towards flexible inflation targeting and at least a dirty float of the exchange rate More recently macro prudential tools that and the regulation of the financial sector Have emerged as important for mitigating the channels by which capital flows By which capital flows could destabilize markets and I'll say a little bit more about that in a few minutes Within these broad frameworks of relatively open economies Some free float and the degrees of grayness Some degree of flexible inflation targeting There are gray areas and there are nuances It's not it's not it's not it's not a black or white it's not an either or situation Historically macroeconomists have thought of what the impossible trinity of Relatively stable prices relatively stable exchange rates and open capital accounts This is not just a theoretical issue in models. This is practically what we confront as policymakers on a day by day basis What tolerances do you have for price stability relative to an open capital account or what how do you prioritize an open capital account relative to the cost of Shocks in the exchange rate, for example Most countries from china to finland price a degree of financial stability is important The question then emerges is do you prioritize open capital markets or stable exchange rates? Capital account how open or how closed what pace of liberalization? There are no right or wrong answers I guess it depends on the savings rate of the country Countries with high savings rates such as china are much less reliant on foreign capital flows Countries such as south africa with the savings rate of about 15 percent of gdp is heavily reliant on foreign capital inflows And because we reliant on foreign capital inflows We have to have a degree of liberalization in our capital account A degree of liberalization that introduces vulnerabilities and shocks for us But the consequence of not opening up the capital account would essentially mean that you're limited your savings pool is limited To domestic investment and that domestic investment is too small To finance your investment needs Countries that have have more sophisticated financial markets have greater options But even here There's a there's a nuance countries such as south africa would very sophisticated financial markets Often see the transmission mechanism between a global event and a domestic shock Accelerated not not mitigated and so we have amongst the most deep and liquid Foreign exchange markets for example in the developing world But it does mean that we have one of the most volatile exchange rates in in in the real world If one is reliant on foreign capital, how does one take account of changes in sentiment? That have little to do with fundamentals building reserves counter cyclical fiscal policy And regulations on the banking sector that limit currency mismatches seems to be the way to go Today most emerging markets are not debating how to prevent money from leaving their country Most emerging markets are debating should we impose capital controls on financial influence Which is a very different situation from the 70s and 80s. It's a positive situation But when the u.s unleashed quantitative easing we saw the rand appreciate by 40 percent 40 percent of our manufacturing sector went out of business in four years It was a phenomenal adjustment By something that happened. Was it a market mechanism? No, it happened in another part of the world So brazil introduced capital controls to attempt to prevent money from flowing into the country and the jury is out Did this work or not? When you talk to brazilians, they think it worked when you talk to almost any other central banker or prominent economists around the world, they think that it didn't work They think that it was clumsy. It was led to a loss of credibility and the currency still appreciated massively Olivia blanchard the outgoing chief economist of the imf think that brazil was successful in imposing capital controls And the capital controls that they imposed in his words slow down the appreciation of the currency And so that's a key issue for economic policy makers that we've got to consider Financial globalization has increased the linkages or spillovers of monetary policy to from advanced economies such as the u.s Helene ray argues that we don't have a trinity of issues anymore It's a dilemma either you have an open capital account And you lose monetary policy independence to the fed Or you have a closed capital account and a degree of monetary policy independence And that's a big part of the debate that even in south africa we we embarking on What's presently on our table the slowdown in china Has affected demand for commodities. We're major commodity exporter iron ore coal platinum manganese copper prices are all down between 30 and 50 percent From the 1st of january 2014 china has not bought a single briquette of coal from south africa Not one. We shipped about 10 million tons of coal a year for the in the four years before that Dramatic impact on both volume and price for for our major exports Correctly the currency is depreciated to reflect those lower terms of trade And at the same time the prospect of tighter monetary policy in the u.s May and a stronger dollar further exacerbates the lower commodity prices and and capital flows to advanced economies Are we two more minutes? And so we confronted with a problem that most northern countries are not confronted with We've got rising inflation as a result of a weaker exchange rate But slowing growth The economy has grown at one and a half percent for the last three years So very weak growth in a context of rising inflation. And how do we manage that? Let me spend one minute if I may chair on what what are the big macroeconomic debates in the world today Is why is there slow growth in the world economy? And there are two broad views about this and i'm sure there's a range of intermediate answers The one view is called the secular stagnation argument That the world is in a period of low growth because there's a savings glut largely for demographic reasons And that in a perfectly functioning market Interest rates will fall fast enough and investment rates will rise to compensate for that sudden increase in savings But in the real world There's a large intertemporal gap between when savings rise and investment rises And that intertemporal gap means that the world economy is going to grow slowly for at least another three to five Maybe 10 years and you need very very low real interstates to balance That even negative real interstate. It's largely associated with larry summers, but not exclusively So that's the one school of thought the exact op and he would argue for incredibly low interstates negative real interstates Large fiscal stimulus on infrastructure and productivity enhancing investment At the other end of the spectrum, you've got the bis the bank for international settlements That argues that the problem in the macroeconomy globally is the exact opposite that Low interest rates channel money into financial speculation equity markets and housing booms and that does nothing for the real economy And that what you need to do to solve the investment problem is to raise the interest rate level So that you can discourage financial speculation and equity price bubbles And that will channel money into real investments and that's how you get out of this debate So there's a two very diametrically opposed views of the real economy and the key macro debates in the world And of course, we're watching those closely. Thanks


Today we are very happy to have with us Professor K. V. Nagraj, head of the Department of Mass Communication, Assam University, Siltia. Sir, welcome to the program. Thank you. So today we are going to discuss about the growth of social media as a means of communication, its implication in society, its growing importance. Sir, basically social media is an upcoming kind of media in society. We have seen that especially youngsters are hooked on to different social and political sides. So do you think that it's a kind of medium through which we can communicate with each other, we can translate our knowledge and information in the society through this medium? Yes, you know the popularity of social media is quite amazing. You know it all started with the emergence of the Twitter, the Facebook and the media have become more and more interactive, personal and amazingly global. Anybody in any part of the world can communicate with any other person and exchange ideas and information. And the way in which it is spreading is also quite phenomenal. What other media could not do for decades, I think the social media have been able to do. And recent events are a very fine example of how social media can change the whole landscape the political landscape and the cultural landscape of the world. And when the Mumbai city was attacked by terrorists a few years ago, it was the Twitter which gave the latest information to the people. And if you take the Arab Spring and what has happened in most of the Middle Eastern countries recently including Tunisia, Libya, Turkey, Yemen and Egypt, you will find how things are becoming totally different. And believe me it is the voice of the people and people are able to communicate beyond frontiers and it is becoming such a power no dictator, no government can withstand the power of the social media. And another fine example which I can give you is the latest movement against corruption in India. The group of Anna Hazare which you normally call as Team Anna. Team Anna has managed the social media so effectively it has brought the Union government to its knees in accepting the demand of Anna. You can imagine how in the next few years this social media will spread and will make things more and more transparent, more reachable all over the world. In fact I find it as one of the offshoots of globalization. Globalization is responsible for it, at the same time social media is also enabling globalization. People from different cultures, different mindsets, different political systems, they are coming together for certain causes, right or wrong, history will speak about it but what is happening is quite amazing. Can you imagine again children of six years of age in metros like Delhi, Bangalore, Mumbai, Kolkata and other places having their own Facebook accounts and communicating with each other. If you see how the culture of the people is also changing it is quite phenomenal but I am also a little bit worried about the negative aspects. The positive aspect is it brings people together, nations together, cultures together, ideologies together and also makes everything democratic. On the other hand social media can also become a tool to propagate anarchy in the world. The established institutions can crumble. It is not only the political institution I am talking of, it can be even a social institution. See marriage is an institution, family is an institution. If all these institutions crumble in the face of the onslaught by the social media, if our cultures get hybridized, if our institutions become weak and if our value system undergoes a change, if not for good but for worse then I can't imagine how the world would be like and the second one is it should not become narcotic in its effect. People are so much hooked up today with social media I think 50% of their quality time people are spending on communicating and are they not wasting their time only on communicating on frivolous issues? There are better things to do in life I think at some point of time we have to consider both the plus and the minus points of the effects of social media. I am really worried about one aspect that is culture. See I believe in having different cultures to coexist in the world and in their own original shape. The problem now is we are getting hybridized and hybrid culture is making inroads and you know there is no variety in culture. There will be a monotonous culture if there is going to be only one single culture and that's where I am really worried about the social media and its impact particularly the young people are hooked to it. There is one particular drawback as far as I have seen especially youngsters I am talking about they go on a spree making friends some unknown friends so the end result is sometimes it's been misused they upload their photos, their personal photos and someone misused them and they crop it, edit it and paste it in a very vulgar way. Ultimately you know it's kind of like impinging upon one's privacy. That is true, that is true. It is not only privacy you know it is also the individual status, the individual reputation and an individual's right to have a decent life and when it is attacked, when people are enticed particularly children and young ladies when they are enticed by some unscrupulous elements sometimes the other way is also true some ladies also can use it to entice some people who are rich and wealthy and what happens is ultimately that's what I said our social system will crumble, the society will crumble and we will be moving towards a state of affairs where social anarchy will be in the order of the day. That's what the personal touch is declining we have become too materialistic, too technology dependent so the very fabric of communication which we believe is person to person communication, meeting person to that is declining I have seen. Yes, that is true but it has its own advantages also the best thing that can happen is the democratization of communication and everybody comes to know of what is happening in a particular place and apart from the negative aspects you have to appreciate the positive aspects also but what happens is when positive aspects are being overridden by negative aspects you will start worrying so there should be what I call as a Lakshman Rekha for everything and people should be educated as to the good and the bad effects of social media and here I talk about media literacy media literacy is very important because it makes people scrutinize the role of the media its positive effects, its negative effects and also it prescribes a definite role for the media in any society look we are not a developed society we are a developing society and there are many problems which we have to encounter which we have to solve and unlike the developed countries our problem is of education, employment we don't have that kind of time to spare on frivolous issues which normally the people in the developed countries indulge in their leisure time and if we get hooked to social media all the 24 hours it is not good for the economic health of the nation as well as the cultural health of the nation so that's why I believe that departments of mass communication in several universities should take to media literacy campaigns and start educating people not only people who study mass communication but the general public as a whole and tell them look these are the positive aspects these are the negative points it is for you to decide and all of us have a kind of responsibility towards the society and we call it as social responsibility and I believe that as students and teachers of media we have to inculcate this media literacy approach among the general public and make them understand what the media are doing or not doing it has got both sides and if you start scrutinizing and that is the first phase of education and you educate them and they will become sincere and serious students of not only mass communication but also of public affairs that is what I believe in so sir thank you very much for our discussion on social media it was really informative as well as entertaining also so dear learners here we come to the end of our program thank you thank you very much