over 21 units and over 1,800 personnel and so anytime a force that size shows up on a base they need to have a wing structure that can assist the air base wing in taking care of all the care and feeding of all the personnel and aircraft that came in. And so not only does the Nellis ranges provide world-class training with air-to-ground threats and air-to-air threats with professional red air, but coming here gives us the ability to integrate with our allies come together as a force and not only for the air crew but for all of the personnel involved whether it's intel air crew flight equipment the maintainers everyone gets to come and learn how to operate in a new place with people they're not used to operating with and so it's world-class training from the air and the ground. Very important for our maintainers especially the younger maintainers who maybe have never deployed before to get that combat experience in a controlled environment such as red flag. It allows us to see how our air crew members perform how they join with everyone else all the coalition forces and just one big exercise to come together so that training is very important. When we come to Nellis we have the ability to fly with the aggressors which is a professional red air force that we don't have the opportunity to always fly with at home station and they provide us with a level of realism that you know is some of the best training that we can get anywhere in the world. It's been great training of seeing what it takes to have over 21 units come to a deployed location and get everyone working together and ready to execute the mission as quickly as possible. It's been invaluable training for myself and everyone else that's come out to be part of the air excursionary wing.


This sold for $335 and 72 cents plus shipping. Hey, fellow buddies. Thanks for watching Amazing, right? All right, let's get started Hey, fellow buddies, thanks for watching. All right in this video We are gonna talk about big money bolos items to be on the lookout for items You can buy low and sell for a profit on eBay I'm gonna tell you where she got it what she paid for it and what it sold for so let's get started Who are we talking about? We are talking about the merchants shop This is her eBay store and you can check it out down below Make sure that you give it a follow by clicking on the heart that will save her as a seller And you'll get updates when she posts new items and if she sends out a coupon Here is her eBay store. Now. She hasn't done a whole lot of Footage yet not a whole lot of reseller content, but she does have a couple videos and they are definitely worth watching So go give her a follow or a subscribe over on YouTube show her some love with the sub is what I like to say All right, let's check out her bolos The first item here is this mixer. It is a vintage 1938 Hamilton Beach Mixer would you have picked it up or walked past it? I can tell you what I would have done I would have walked past it. Why because I would not want to ship it I'm a lazy reseller. I've told you guys that before I do not like shipping stuff like this But anyway, that's my loss and somebody else's game because I'm passing by this stuff She got this at a thrift store for 15 and took a best offer of a hundred and 1532. That is awesome Another item I would walk right past because I would not want to ship it. These are beautiful I would probably look at them and then I would just keep walking because those stems look at those stems How do you even ship that? Okay? So for all of you peeps out there that have YouTube channels and you ship things like this We need videos we need videos of how you are shipping these items Vintage and pulley olive green hand blown glass twisted stem candle hoarders. Wow Let's see. She got these on Facebook marketplace in a giant glass lot paid a hundred dollars for many many pieces So probably about 10 for this set buyer all in for 5851 So she did take a offer and she said this one sat for a really long time. So it was a long tail item Look at this stunning piece of art. Wow Wow, wow That is Incredible How pretty it is? Great photos studio art glass paperweight abstract bubbles swirl purple blue signed so it is signed it's hard to see but It has bubbles in it and sometimes these are called controlled bubbles. Sometimes you'll see that in the titles I really don't understand if this is controlled bubbles or not. I'm gonna say Not I think controlled bubbles are where they're like lined up where they haven't Intentionally put the bubbles in the spots. You guys let me know down in the comments She got this at a hybrid local auction paid five dollars and buyer was all in for a hundred and thirteen seventy four on this paperweight These are really cool. Another thing. I would have walked past the paperweight. I would ship that these oh I can make myself ship things like this, but again, I just don't prefer it It would probably take me over an hour to ship this 1962 Seattle World's Fair frosted glasses tumblers set of eight century 21 exposition and Found free from a post estate sale come and get it Facebook Marketplace Facebook marketplace post buyer paid asking all in for a hundred and fourteen eighty one for those So they're really great great colors and graphics really cool Paragon at teacup saucer to the bride gardenia Gardena gardenia. Is that a flower gardenia? I think it is. I think this is the flower. Look at this set Double warrant black scallop footed Here you go. Here's what your bottom looks like Would you have ever guessed? this sold for Three hundred and thirty five dollars and seventy two cents plus shipping she got it at an estate sale for six Dollars that is fantastic American brilliant crystal diamond low bowl sawtooth scallop heavy deep Wow, that's a lot of keywords That is beautiful and I love that she used a black background for this. That was really really clever Very clever Let's see. What's it say sold in fifteen minutes of listing took a best offer buyer was all in for two hundred and ninety ninety-five This one here is a vintage 1964 skipper red dress Sun hat Barbie Japanese exclusive almost complete set Purchased at hybrid auction for fifteen took a best offer of Doesn't say but the buyer was all in for two hundred and seventeen seventy five so with shipping She's given you the all-in price Vintage blue press glass to canter genie bottle vase diamond textured made in Italy So lots of great keywords. Let's see if we have a marking maybe on the bottom. Yep, right there made in Italy That is important put that in your title Part of a vintage glass lot on Facebook marketplace took a best offer buyer was all in for ninety four seventy Here is more stuff that I would not want to ship. Oh my goodness Can you imagine shipping this you guys that ship glass all the time?  I'm saying that wrong. It's F. I. G. G. J. O. Flint, Norway Dimitas dimitas. I'm gonna just act like I know what I'm talking about dimitas Expresso gold gild cup saucer set of six. What if I talk like that you guys would you like me more? Oh my goodness What if I was sophisticated? Let's see Purchase from a yard sale for $5 sold for full asking price of $91 plus shipping and let's see what they look like on the bottom there is your mark and Like at that picture Lots of time setting this listing up lots of great photos. Look how pretty they are on the inside. Those are pretty cool This is a 40 Winx framed watercolor art print by Kay McDonough Donahoe 2005 sleeping Tabby cat. I may have pronounced that name wrong more than likely I did Found at a humane society thrift store for 15 buyer paid full asking of 108 Wait, I'm sorry paid full asking of 7980 was all in for 10850 These are set of five 1847 Charter oak table soup spoons Rogers extra small triple silver plate in mono. So number one I'm looking for the monogram here. Where are they monogram dot right here? So they are monogram I will tell you that items that are monogrammed when it's silverware is harder to find because you're looking for that specific buyer that wants that letter silver plate That means it is just plated it is not Sterling or you know fully it's plated So it's not gonna go for as much if you can find sterling silverware. Oh my goodness big money Bolo, but these did great She's actually sold quite a few These spoons were from her aunt's estate took a best offer buyer was all in for 85 84 For five spoons silver plate spoons. Here's another one of those awesome paper weights This one is Ocean swirl blue green signed and it's signed by that same artist so I don't know if That's some special artist or if it's just sold for so much because it's just stunning. They're beautiful Found at the local hybrid auction paid 15 had to fight for this one buyer was all in for 53 67 So she did take a best offer Vintage Mexican folk art pottery iron candle hanging collage wall sconce angel trio Goodwill $9.99 for the whole set on 30% off day took best offer of 69 58 oh buyer was all in for 69 58 Sorry, I got to get used to that verbiage Jesus is Lord. Check this out. This is awesome. I love the colors wood carving here Let's see Groovy retro religious wall decor from the 70s and she got this at the Goodwill for $1.99 It took a best offer and the buyer was all in for $40 and 31 cents This is a Mexican folk art pottery tree of life and it's Adam and Eve and the serpent check it out How Interesting is that have you ever seen anything like this?  I mean Wow, I wonder how old it is It's pretty incredible It's really incredible, let's see found at the Humane Society for three bucks and the buyer Took a best offer buyer was all in for 75 10 This is an antique weller La Welsa Lou Elsa L-O-U-W-E-L-S-A Lou Elsa pottery brown glaze stein mug hand-painted pear fruit And I don't see it where it looks like it might have a chip I don't see where it's signed anywhere So I'm not sure how she unless maybe she Google lensed it that would be interesting to know is how she identified The actual artist but that is stunning Paid a dollar at the Goodwill Benz buyer paid full asking price all in for $80 and 97 cents the next item here is this Vintage 70s Philadelphia 76ers felt NBA basketball pennant men's cave sports So she's got some keywords in there to drive people to the listing and this one She got on Facebook marketplace She bought a whole lot paid $3 took best offer and the buyer was all in for $70 and 55 cents This is a mid-century glass and it says it's a vase Oscar or let's see Osaka Osaka os a ka vase Rudolph journey go for Well, oh my goodness. Are you kidding me? Libba Chevasse Anyway Sunburst Bohemia, how interesting is this check out that vase She got this at the Goodwill for $6 and 99 cents and took a best offer the buyer was all in for $77.94 This next item is a fits and Floyd witch capel capel witch hazel tall taper Candle holder Halloween black cat so flits and float it can do really well always look it up if you see it This one has the original box This is from 2003 so not super super old, but definitely retired. She got it found at a local thrift store From a Facebook marketplace ad. She said I booked it over there to buy what they had paid $5 and took a best offer buyer was all in for $85 60 This is a to a set of two 3d resin photography city street art mixed media foil signed Julia Gardner So this is artist made And let's see if we got anything on the back right here, there's your information So probably a local artist somewhere perhaps but still sells still sells Paid $3. Maybe Goodwill bins took a best offer the buyer was all in for $65 75 This next item is a vintage Asian wood display stand base rectangle rectangle plant statue geometric oriental gold Check that out And she got this Asian wood display found from local hybrid auction paid $37 for a lot and the other piece was the one I wanted This was a bonus took a best offer and the buyer was all in for $43 68 So this was she was buying something maybe for personal use or To resell that was in the lot and this was just kind of a bonus item Gotta love that forbidden archaeology the hidden history of the human race Michael Cremo was signed. Oh, it's signed Let's see. Where's it signed? There you go She got this Found at another come-and-get-it post estate sale Facebook marketplace for free buyer accepted offer and it they were all in for 6316 so She must have an estate company around her that says just come get it So that would be cool vintage John Deere tractor service manual found on hybrid auction paid a dollar buyer accepted the offer and was all in for 55 65 for this This is a vintage pink Cowry shell basket wire Easter seashell nautical boho Ethnic small. It's a shell. It's made out of shells. So somebody probably Handcrafted this she said found at the goodwill for two dollars and ninety-nine cents always look up the shell art Some are really valuable and this basket was three inches Took a best offer and buyer was all in for 37 89 This next item is a hello kitty look up all hello kitty some of them will surprise you this one is a in a kimono dress and She got this at the bends for around 50 cents buyer accepted offer and was all in for 30 dollars and 33 cents Here is an applause sad Sam plush puppy dog with the pink bow graduate of the new year of the year news So holding the little newspaper there found in a free pile accepted a best offer and the buyer was all in for 2019 Here's a ever after high doll Cupid throne coming dress earrings wings shoes cuffs and no mask So she's telling you what the doll includes because people will be specifically looking for items that they have lost She got it at the goodwill bends for 50 cents She said Bay buyer paid full asking all in for 51 81 Now this next one may surprise you a little bit You hear all the time that Avon bottles are not worth anything and in most cases You know, you're not gonna make big money on them But if you can get them for the right price they do sell these have the original boxes that definitely makes them more collectible She said Avon bottles free find by my besties hubby He found over a hundred vintage in a box Avon bottles for me at an estate sale leftover free pile and you can't beat free buyer paid full asking all in for 40 31 and I think that is for this Last set but you can see she has sold two others as well. So Would I pick up decanters that are Avon? Personally, no number one. They're breakable if they had the box Probably still know just because I think they're probably gonna be long tail She didn't mention how long those had been sitting, but she got them free and they are selling So definitely keep that in mind. There are some Avon products that can go for big money I actually just did a video on certain broaches that are Avon that can go for big money So definitely check that out. Thank you guys so much for being here. Thank you for watching Be sure to like comment subscribe and share There's gonna be some videos popping up here and here a video down below and a subscribe button Be sure to go over and subscribe to her YouTube channel and check out her eBay store Those are linked down below and as always Thanks for watching


Well, hi there. My name is Sandy Olnok. I'm an artist and paper crafter here on YouTube and we're going to go camping with pencils today I'm not going to literally take you on a camping trip. I'm going to take some stamps camping This little set from my favorite things is pretty sweet. I love these little guys I'm going to take a bunch of these stamped to just color on my own while I'm on my next trip And since we are just about at 4th and July weekend right now You might like some ideas on what to take on your camping trip if you're going to go on one So while I color this with my colored pencils on Desert Storm Nina card stock I will chitchat about some ideas for what I take on my trips and what you might consider for your campaign vacation.  This is a little clipboard. That's like I think it's five by seven So it holds a stamped image just great But if you just have room on your lap in the car or on a plane And you just have a little tiny bit of space You can work on that kind of a little surface and you have a hard surface to color against on your lap Sometimes a book will do but I like a clipboard because you can actually Secure it in there and it will it will stay put instead of having to hold it down on top of your book Then you would take with you some stamped images. I'd like to take a selection of stamped images Sometimes I feel in the mood to do flowers. So I'll take a few flowers stamped images Other times I feel like doing characters and I'll do some of those and then I might take Extra stamped images of a scene So if I want to set up my misty and do a whole scene set up a couple of those and sit and color them You want to get head on your Christmas cards and your Christmas stamped images get some of those out and stamp some off so that you can get at least the coloring portion done and Anything that you want to take with you as far as coloring books is also a great option Because then you can get the kids coloring in their coloring books while mom or auntie or grandma colors in her coloring book and While you're doing this It's a great opportunity to spend some time with those kids and teach them something about art Because even if you might feel like you don't know much you know more than those kids do you've been doing this a little longer than them and Even if you're just going to give them encouragement in doing it not in how you do it But just encourage them to do something creative all the time And keep their hands in it. Don't let them fall away from it. Don't let them listen to discouragement This is a great time for you to speak truth and love into their lives So that if they hear some kids say something mean about their art in school That they'll have your voice in their head telling them that that is not true Whatever that kid is saying is not true And it's great time while you're sitting in coloring to just have some chat time With those kids and let them talk to you as well. How do they feel about their art and what they're creating You never know what's going to happen You can teach them a little shading if you know anything about shading if you've taken the copic jump start class you can even show them the Technique about breaking down an image into all of its parts You can teach them where the light source is coming from and then the shadows go on the left or the right Or wherever you want to teach them Anything you teach them is more than they're getting in schools nowadays because schools don't really teach much So this is a great opportunity for you to speak into these little kiddos lives And create young artists and give them Encouragement to do what we all forgot we could do When we got discouraged at some point in our lives and we put our crayons down We want to help these kids not to do that. We want to help them to stay creative their whole lives Even if they're not going to go into that as a career, but to help them stay engaged with their artistic side One other idea that I was thinking about as I was doing this and I wanted to talk about helping out with those kiddos Is taking a blank color wheel with you on your camping trip And take enough for each kid to have one or two in case they mess one up and teach them how the color wheel works You can download one online. I'm sure there are tons that you can download I'll see if I can remember when I get done with this to put a link to something you can download Or you can use the one from the Copic Jumpstart class If you were in that then you got lots of teaching on the color wheel. You can teach that To these kiddos Let them know what the color wheel is. How do colors mix? You don't want them to get to the point that we all did Where we just don't know anything about color. We don't know anything about shading We want the kids the next generation to grow up knowing more than we did. So this is a Another great opportunity for teaching I'm working through this image and I will apologize now for the very end Because just as I started on a background my camera turned off and I didn't realize it So I didn't capture all of it. I am getting lots of it this moose in particular I wanted to call out the fact that he's a very big empty space I will all these stamps are somewhat large empty spaces which makes them nice and easy to color But just because there are empty spaces here doesn't mean you can't add your own flavor to it your own shading So when I get to his His shading, I'm going to add Either you can do a second layer of the same color and just press a little harder make it a little bit darker Or you can take another color and actually draw in new shapes that weren't there in the first place So when I get down to his little legs, you're going to see this develop because just because an image doesn't have lines And it doesn't mean you can't create them I'm just going to add all of my shadows my general shadows first just to see how happy I am with it Before I decide I'm going to go in and add some crazy things on this little moose because I think the moose is my favorite In this stamp set, even though I'm a real fox aficionado I really love love this little moose guy So here's where I'm looking at the the legs in here And trying to figure out if his legs didn't actually just all end up in one blob at his body how would they Break up and right there that back leg if I make it really dark. It's going to knock to the back immediately and then his his other legs I need to find a way to make them sort of Break out from the body so they look like they're in front of it And I can do that by adding some darker shading On either side of it because that's going to add some depth to it and allow that front leg to look like It's really popping forward That's just a little bonus tip in this video. Most of the shading here is uber simple And I don't recommend getting crazy with it if you're on vacation. Make sure you relax. Don't get stressed out about your coloring Just relax and have fun because that's what vacation is for You've worked hard all year and you deserve some time off So here's my finished really simple card. I layered it on some brown paper and then popped that pair of layers onto the front of the card And kept it really simple. I stamped hugs into the sign And that is that for today's card I wanted to keep this video nice and short because I know you're all going on vacation So I send warm and fuzzy greetings from the inside of my card to you as you go off on your vacation I hope you have a great time And if you're not going on vacation you have some time you and watch some other videos on color pencil I've got three more that I've done on desert storm. Apparently. I really like Using desert storm paper with color pencils because it really gives you an interesting look If you haven't yet subscribed, you're welcome to do that There's links to everything in the doobly-doo down below And I will see you on monday. I do have a fourth of july post coming up. I'll see you guys later. Bye. Bye


Well, hello and welcome to Jonathan from the heart. I'm Jonathan Asley of Jonathan Asley.com I'm so excited to be shooting this short video for you today our topic the sad truth why some men act wishy-washy And I don't know is that what wishy-washy looks like Really quickly if you're new to my YouTube channel, please hit the subscribe button hit the bell So you can be notified of new videos and if at any time during this video the content resonates with you Please hit that like button. Lastly, these are my weekend videos I shoot out on my balcony very similar to the videos I shoot my private group called midlife love mastery Midlife love mastery is a group where you can have direct access to me on a regular basis And if you join the group, I post if you post a question in the group I shoot a personalized video just for you most of the time anyway, okay Let's talk about why some men act wishy-washy. Okay, so let's think about what wishy-washy is Wishy-washy is basically uncertainty. There is some level of uncertainty going on in a man's life Whether it's that he has uncertainty in his life himself or uncertainty with the person that he's dating Now what's interesting and this came up in my private group this morning this idea that men will move Mountains for the woman that they love, you know, we are just going to climb to the tallest You know the highest room in the tallest tower for the women we love, right? Well, let's think about this for a second. You've just met a guy, you know Five days ago. Is he supposed to move mountains for someone? You just met five days ago or 15 days ago or 20 days ago I want most of you to think about this because the reality is is these days were meeting total strangers And what that means is it takes roughly a hundred hours of Face-to-face time to build the first layer of trust with another human being This is true for men and women alike So this narrative that I hear that men are wishy-washy because maybe that they're selfish or they're Narcissist or they're you know, they're you know, it's all about themselves You know, I want you to think about this for a second because and I'm going to share with you in a moment the deeper causes of what causes some men to act wishy-washy is That this expectation is so grand It takes time to get to know another human being and the only reason why this narrative is so progressed is because men Will yes, I want to say something men will chase sex men will chase sex I mean we will men will fly from Los Angeles to New York to get laid You know, I mean men will do things like that But that doesn't mean that they're in love with you take it takes time to build true love with someone To want to move mountains for them. So this narrative is is going to set you up for failure. So The reason why I'm shooting this video today because I'm reflecting upon my own Wishy-washiness in my life right now. I want to be candid with you all I'm feeling rather wishy-washy as I'm getting close to Father's Day, and I'm getting close to the anniversary of Connor's passing in my own birthday I find myself in a state of melancholy. I find myself in a state of fear I find myself in a state of uncertainty and from a dating perspective when someone and I'm using me as the example in this Narrative and by the way, if you're not familiar The reason why I'm feeling all this way is because I lost my 19 year old son Connor in the summer of 2018 and while it's been three years and I've worked very hard to To grieve with love it still weighs heavy on me on a personal level And I'm just thinking I'm one person of the millions and millions and billions of people out there That are suffering on the inside in some way shape or form based on a past trauma Maybe in their childhood. Maybe it's an adult trauma. Maybe it's they lost their job Maybe they're going they've gone through a very Tremulchuous tenuous divorce. Maybe there's health issues going on in a person's life Maybe they have elderly parents that they had traumas with that are going through, you know The transition in their own life and they're dealing with their stuff just like you're dealing with your stuff and when we're Trying to navigate our feelings and our wounds and our fears and our hurts it can make the ground underneath us feel very unstable and I can say this because that's how it feels for myself and So my behavior one minute could be it's very excited to talk to a woman and the next minute I could be an absolute melancholy Now in my case, it's because of grief But we all have some level something within us that can bring us down So understand that the sometimes it's not because someone is selfish.  I've written a book about Healing emotional trauma not healing emotional traumas, but healing on oneself I wrote a book called what the heck is self-love anyway?  By the way, there's a link below By the way, there's a link to join my group midlife love mastery as well Why I'm sharing this with you is because I want to encourage everyone to instead of judging someone else's behavior as being bad This wishy-washy-ness. How about understanding that maybe something might be going on in this person's life that makes it very difficult for them to open up to love and By the way, this is true for women as well. This is not singular to men This is what we're dealing with as a species of understanding human behavior is that Feelings can be very fluid. They not feelings aren't facts. We can feel We can feel real attraction for someone one moment and absolute fear the next moment And when we're in fear, we don't want to progress something forward because we don't feel like like I said before the ground underneath us feels safe This is why I'm such a big proponent of Doing the work the personal development the self-help and spiritual work and and I'm sharing with you for everybody I do it on a daily basis and it still can bring me down It can still bring me down and So what's most important in each of our lives is not to judge someone else's behavior But to love on ourselves And to love others. That's my invitation. What does my t-shirt say the self-love club? What does my mug say? Love yourself. This was a gift from One of my members To love on yourself and to love humanity because the narrative of making men out to be bad is Only going to progress more and more pain in everybody's life I want to encourage men and women alike to start treating the opposite sex with a sense of What's the word I'm looking for a sense of God I'm really tongue-tied right now I think you well Why don't someone come up with what I'm really trying to say here because even my I'm getting choked up myself in This in this conversation because I want everybody to recognize that most men are good guys Most men are good human beings. They might be bad at dating. They might be bad at their emotional maturity They might be struggling on the inside to express themselves, but it doesn't this is just a human thing And instead of judging men as being bad and men judging women as being bad How about we just have a lot of compassion for one another and less judgment and blame for one another? Because when a man acts wishy-washy We oftentimes take it so personally and we we then might look inward and say what's wrong with me When it could simply be that that person is feeling some sort of angst and fear and by the way There's nothing you can do about that you could care deeply for somebody But you still there might be nothing you can do about the pain that they're feeling in their in their life right now Did you know the number one emotional health issue for everybody most everybody is I'm not good enough I'm not lovable. I'm not likable Imagine the weight of that and I know I feel it even for myself as Confident as many of you think I am I still struggle With that because of my little kid that was picked on as a child my little kid that was treated poorly by my By the kids in the street and I was bullied and all that stuff and many of you have Experienced the same thing or we've experienced adult bullying and things like that and that can wear on us emotionally By the way, I'm rambling right now. I think this is what's gonna starting to be the norm of my weekend videos I'm rambling and I just want to say to you I want to invite everybody Invite everybody to look at human beings not from a place of judgment not from a place of comparison From a place of compassion and sometimes even good people do hurtful things But that doesn't mean that they're bad people and if we can shift the narrative from bad to a Understanding when you can understand human behavior you can predict what's gonna happen next and then you can make better choices for yourself Do you want to make better choices for yourself? I hope you do and my hope is that we can let go of this narrative that men are bad Because they might the sad truth for a lot of people is that they're hurting on the inside? And I can say to you from personal experience and believe me. I'm going through at this moment right at this moment I'm going through deep melancholy And yet I want connection with another human being I want companionship I want emotional intimacy and physical intimacy and I'm budding up against my own stuff And I'm saying this is what a lot of people and I'm actually aware of it. I would the other piece I want you to be here. I want you to think about this I'm aware of this most aren't even aware of what's going on on the inside And so their behavior is very confusing to them themselves So just recognize and I want you to look at yourself and say have I acted this way as well?  Loving yourself the self-love club is to have love for self and love for humanity Because when we come from a place of love we have a greater chance of feeling inner peace and Compassion for those around us inner peace for ourselves and compassion for those around us Is this sinking in is this resonating am I just babbling here because that's what it feels like All right, I think I got my point across I'd like to hear your thoughts Please post a comment below if you have any questions, please post a comment below as always if you find value in my videos Please share this with your friends. Please hit that like button And I'm gonna wrap up this video as I always do first off give myself a big gigantic job to bear a hug of self-love I'm gonna reach into the camera and give you a hug of love if that's okay I'm gonna actually get to turn to someone a pat a teddy bear or pillow and give it or them a hug of love Because hugs are a great source of love and let's face it. We could use more love in our lives. Thanks a bunch. Bye. Bye now


Let's say I wanted to understand public opinion on climate and energy in Workington relative to the national average to inform some public engagement work. I'm doing there How could the local intelligence hub help me do that? From the home page you can search for a constituency by postcode MP name or constituency name I'll put in Workington Information on this constituency is grouped into four categories with a summary of each on the first page First there's information about the MP. I Can see here that this is a marginal seat and that the MP is a member of a number of climate related groups Next we have public opinion data. I Can see that roughly 60% of constituents here are likely to feel worried about the cost of living Higher than the national average If I dig into the opinion data further, I can see that support for renewable energy projects and sources is high here Going back in the place section. I can see that a fairly high number of households are also estimated to be in fuel poverty Now if I wanted to engage the public on renewable energy, which climate coalition member organizations could I work with? The movement section shows me that there were a number of great big green week events here last year and the year before and There's representation from a number of faith groups and If I dig into the full movement data, I can see there are a number of women's institute groups that might be a good way in Perhaps I'd start there


What's good everyone Chris from jasky's case breaks calm. We're back with 2022 Panini eminence FIFA World Cup Qatar soccer case break Random hit number two Just did one with a sneaky 11th hit in there check out the video such a fun one to do So same thing ten hits ten spots ten cards Every one of these ten names a quorum Tommy Jameson Jameson Jameson Brian Brian Tommy once again Jeff and Luke. We'll be getting a card. We'll break that box first Put our hits right down here randomize both match them up. We'll show it on this fresh spreadsheet Let's do it though hit it one more time Whoo, man One more eminence World Cup soccer Thanks again y'all back-to-back break to start the day You're far too kind Let's get one more in a good look I love that this box itself is like the size of like an extra like an Xbox or a PlayStation Just a humongous card humongous box That holds another box. All right once again here comes the styrofoam y'all should be able to get it out Just I think after the break I'll show off with the what the actual box itself looks like It's you know, it's shaped like a pitch. It's got the actual design on the on the top with that sticker, but two goals on either side All right, though. Let's get to it Box to our diamond's gonna be in the middle here. All right first up two out of five of Some golds and auto Two out of five 14 cared gold and auto etched in history. Nice start there Let's grab this one maybe two and three next up For France two color patch and auto seven out of ten Raphael varene seven out of ten interesting gilded graphs of Pedri nice youngster there eight out of ten on the gilded graphs auto one more on this top level So four on the top. Hopefully I mean something big on the bottom Crown jewels four out of ten. Look at that Robin van Percy with one two three four Diamonds on the card. Wow Whoo, a really nice first level there. Here's of course the Agreement All right, so let's see what we're coming up with next year with just a four-card row Interesting Let's see what we got here. It'll be a long boy here to start off our bottom row International icons silver Kai Havertz one out of six Look at the little action shot on the silver itself there, too. Very nice One out of six Kai Havertz fine silver Next up decade brilliance. Oh, wow Fine silver What nuts of what the diamond and auto paylay nine out of ten? Whoo, I Know the first box is pretty pretty good But I think this second box might have a beat so far. Let's see our next hit And a long boy here things gonna be a patch auto It is two-color patch and all climp Dempsey for the good old us of a seven out of ten Climbed Dempsey patch and auto to see Okay, it's another four-card row. There must be something really nice under the This bottom one next up Grant signatures one more for the USA Christian Polisic. That's the LeBron James a soccer right there four out of five on the Polisic grand signatures and last card for this now middle row middle row not snot not bottom Gilded graphs one more youngster Jal Felix Three out of ten Portuguese youngster Jal Felix auto Whoo. All right, let's see what we got under here. I think we got one good here folks If I can even get the dang thing out You got a long boy So I'll show off the first half of it And then I'll show off the second look along this thing is good luck folks so Quad patch quad auto Ben Chilwell and Jack real ish to color on the left and on the right Kyle Walker and Reese James. So a quad player quad relic quad auto booklet Three out of five Wow What a box. I am a little worried though. I'm less double-check. I think It would pose a problem that is the problem one two three. Nope. I'm sort of count, right? Five six seven eight nine. Okay. I'm dumb. That's all ten. I got worried. I forgot. I Look like that nine hits for a sec and that would have been not good Let's pick it up good. What a box.  I'm dumb. Don't mind me. We'll show it off In the order it came from and the recap here.  Oh All right one more time for the folks at home Two out of five fourteen cared gold and auto To color patch and auto Raphael Vaudet and seven out of ten Pedri auto eight out of ten gilded graphs Crown jewels quad diamond and auto robin van Percy four out of ten Ty Havertz silver international icons one out of six with I'm assuming that's supposed to be him on the son On the center of the silver man Decade brilliance paylay diamond and auto nine out of ten from the 1950s What a hit To color patch and auto Quint Dempsey seven out of ten Optimum sure Four out of five grand signatures gold Christian a politic autograph Gilded graphs three out of ten Jowell Felix Our ninth hit and the last one booklet quad player relic and auto Ben Chilwell Jack Grealish Kyle Walker and Reese James To color on all four of those patches man, what a box Let's get to the let's get to the nitty gritty. Let's get these all written down and randomized Robin van Percy What a player in his day, huh? monster box on it James of Soccer I'm just gonna do the last names here. Chill. Well With one L and chill weird British people Grealish Walker and James Quad This is out of five Yes, three out of five on that booklet by the way So our name is once again a quorum Tommy Jameson Brian Tommy Jeff and Luke. Thanks again and our hits one Two three four five six seven eight nine ten I do know how to count the ten now and our fresh list. Let's randomize Let's roll our dice. Good luck everyone. Let's do it one and five four times for both one two three four last one five five times From Jameson down to a quorum and five times for the hits. Good luck one two three four Last one five. Good luck five times From the Robin van Percy Quad diamond and auto to the Jal Felix auto and let's get these little format. It looks like a look at it together So Jameson Gets the Robin van Percy quad diamond and auto out of ten Brian Hawthorne With the chill. Well Grealish Walker Reese James quad patch and auto booklet out of five Tommy Gets the clip Dempsey patch auto out of ten and the Pedri auto out of ten Jameson also gets the raw wool gold and auto out of five and the kai havert silver out of six Jeff will get the Christian Polisic auto out of five Brian gets the Pele Diamond and auto out of ten Luke with that last spot Mojo gets the Raphael Varane passion auto out of ten and a quorum Gets the Jal Felix auto out of ten. All right close the books. We are done Let's wrap it up. This was twenty twenty two Panini eminence for world cup sock We have more soccer on the site Jasper use case breaks calm. Thanks again everyone for getting this done I appreciate you. Happy holidays. Bye. Bye


This paper presents a method for removing quinoline insoluble matter from heavy coal tar using catalytic polycondensation, with ALCl3, resulting in the formation of mesocarbon micro-bads and improved carbon material properties. This article was authored by Lei Zhang, Rui Kang Song, Yang Jia, and others.


Keep walking, make a circle. Keep walking. Keep walking, make a circle. They're walking. keep walking. Keep walking, make a circle. Let's go, let's go, let's go, let's go, let's go. Great. Without the gas, you know. Alright.  Alright, breathe in, breathe in. Take a deep breath, deep breath. Your head side to side, side to side until you stretch all the way.  Are you chewing gum or eating something? Rotate your chin, your chin. This time you run in place. Take a deep breath a little bit. You're going to break the seal, right? We're going to hold it into 15 seconds, right? After those 15 seconds, we're going to put the mask back to the face. Clear and seal again. You're going to do it multiple times until you start breathing normal, right? You're going to have to get the command. Once I count to 10, I'm going to give you the next command which is, I'm going to put the mask to the face, seal, I clear and seal the mask. I'm going to put the mask right, breathing, you mask should collapse, right? After that, we're going to exit the seal chamber. Oh no, I'm going to start counting to 10 seconds. When the last person breaks the seal. So if you're that person, I'm not going to count to 10. I'm not going to start until the last person breaks the seal. All right, so we're going to do that again. Now you want to do it? You want to go? All right, break the seal. Break the seal. I'm not counting. I'm not counting. I'm not counting. I'm not counting. I'm not counting. I'm not counting. I'm not counting. Break the seal. One, two, break the seal. Break the seal. Three, four, break the seal. Break the seal. Five, six, break the seal. Seven, break it. Break it, break it up. Seven, seven, eight, nine, ten. All right, we're going to do this, please. No mercy. Calm down. Calm down. No mercy. Break the seal. Clear and seal. Break the seal. Do it again. Three times. Four times. Go on again. Go on again. You're not counting. Go on again. There you go. Go on again. Break the seal. What's your phone? Close your portnet. Break the seal. Clear and seal. Break the seal. Calm down, lay down, relax, you'll be feeling better now. Trust your equipment, do not panic. If you are contaminated in here, and this happened, if you panic, sorry, but you're dead. You got nine seconds before you want me possible medical attention. This game here is for NCT, that's not what it's for. Give your confidence in your equipment, and your equipment actually work. All right, what do you do? All right, so, all right, you circle and exit. Hold on a second, that's a high-five stage up your limit. Good job, good job, there's go, there's go, there's go. Good luck, good luck, good job, good job, good job. See you next month, see you next month, let's go, let's go. See you next month, there you go.


and can send pensioners Association Benway State yesterday in fact on a solidarity rally in appreciation and support of the Governor of Benway State Reverend Father Hyacinth Alia for his prompt payment of pension and gratuity. The group was in Government House Maccordie Benway State, north central Nigeria in the large number where happily chanting solidarity songs for the Governor for extending the lives of pensioners who were dying for non-payment of their monthly pension for over three years. Regularization of pension of payment of our monthly pension which was paid three months in one year by the previous administration. Father cancelled the nickname given to pensioners as dead people by the previous administration. Now under your administration pensioners are bouncing with full life in them. You place all the pensioners on the payroll immediately after retirement. During the previous administration pensioners would wait for more than two years. We never enjoyed such before. We received payment three times in a year previous Governor for the past 80 years. He came, he has updated it, we are expecting a new home and he is saying we have collected it before Christmas, especially in history. We are aware that right now there are a lot of distractions in there and there are cats and dogs who are tingles who want to distract them here and there. But we are sure that you will be listening to God rather than listening to a man and God will not disappoint him and the people are ready to hide here. This has brought us to the government more. Some pensioners lamented how they suffered for non-payment of pension and gratuity and non-capturing of retirees for the past eight years as favourable pensioners were paid three times in a year. That indeed those people that were ascribed to us dead men have been awoken by the governor. They are not just awoken, we are going to fully regenerate, reorganize and make them have more energy in them. Not just because you are here, in your absence the governor is considering a model for upsetting all pensioners, all areas as we progress into this government.


Good afternoon, everyone, and welcome to the European Central Bank, at least virtually. My name is Gabriel Gluckler. I'm a principal advisor in the communications department here at the bank, and I have the privilege of being your moderator for the next hour in this seminar. Of course, rising prices are on the minds of most Europeans. It's a source of worry and real economic pain, and that's why we were discussing today what's behind it, what's keeping inflation high, what we at ECB can do about it. We're looking forward to your questions and to have really have an open dialogue about this, and I'm sure we're going to have a very fruitful discussion on these very important issues. Before moving to the presentations to present us here, which I will introduce in a minute, let me go through a few housekeeping steps. First of all, please keep your microphones muted unless you're speaking. You're also encouraged to keep on your cameras. It gives a nice friendly atmosphere in this seminar. Please be aware that this seminar is being recorded, and we will be publishing it on our website in the coming days. And if you have any experiencing technical problems, please write to the host in the chat box, and then a member of our team will be with you and assist you right away. Now, I'm very pleased that we are joined here today by two experts on precisely that topic. The first one is Oscar Arthur, who is the Director General of Economics here at ECB, and with us is also Sarah Holton, who is the Head of Division of Prices and Costs also in Director General Economics. You are in very, very capable hands on this important topic, and for any questions that you have, and with this, over to you. Thank you very much, Gabriel, and good afternoon to everyone. It's our pleasure to be here and to have this opportunity to interact with members of our civil society to reflect on issues that are, of course, of common interest for all of us. Today's talk on inflation is for us a good opportunity to explain what we think about the underlying inflationary forces to share with all of you our diagnosis of the situation in terms of the potential evolution of prices in the future, but also to explain a little bit what are the decisions and the actions taken by the ECB to counter this inflationary bust. So as Gabriel said, I'm in the very good company of my colleagues, Sarah Holton, who is the Head of the Prices and Costs Division and has one of the main experts in inflation related issues at the Economics Department of the ECB. So in order to introduce the topic, the question, and hopefully later on the conversation, we have prepared a few slides that I would like to share with all of you. So in terms of the origins of the inflationary, the current inflationary episode, I mean, what is behind this inflation episode? Well, I think it is fair to recognize that the current situation is the result of the conjunction of a sequence of various shocks, some of them coming from the supply side, but also with a component of demand pressures. I mean, this is the result of a series of exceptional disturbances hitting the euro area economy. I mean, after the pandemic, the recovery that took place after the initial phase of the pandemic, after the lockdowns, gave rise to some imbalances between supply and demand in several segments of the goods and services market. As a result of that, we saw some disruptions in supply chains in international trade, giving rise to the so-called bottlenecks. These bottlenecks in the provision of some goods and services essentially led to high prices for these goods and services. So this was an initial symptom of growing underlying inflationary pressures. Later on, what we saw is a rapid increase in energy costs, even before the outbreak of the unjustified war of Russia on Ukraine. We already saw in 2021 some significant increases in energy costs. But of course, after the beginning of the war, this situation wasn't significantly, and the prices of most energy inputs went up very quickly, as you all know. And this had direct consequences in terms of prices, but given that energy is an input for the production of many other goods and services, we also saw some spreading out of this inflationary shock in the prices of many other goods and services. Then the demand was recovering, as I said before, at different pace, depending on the different segments of goods and services. In some cases, what we saw, and we are still seeing some of this, is the release of some pent-up demand that was accumulated during the lockdowns. And the reopening of the economy gave rise to this release of pent-up demand. And still today, we see a very strong demand component in the inflation dynamics of some services, especially those that benefited most from the reopening of the economy, like tourism-related activities, hospitality, restaurants and so on. It is fair to say that it was not only the big size of the shocks that led to a very significant increase in prices, but also what we saw was a very fast, very quick transmission of these shocks into final prices. The speed of the transmission of these shocks into final prices was probably higher and faster than what we saw in some previous episodes of inflationary pressures. This explains this extremely high velocity in the transmission of these shocks into the prices of goods and services in the customer's basket. So last year, in 2021, as it is illustrated in the chart in this slide, much of the dynamics of overall inflation was driven by energy, the red bars in this picture. Lately, starting from the first quarter of this year, we have seen a very significant slowdown in energy inflation. And at this stage, energy inflation is close to zero, and it has been even negative at some point. Well, in the absence of new shocks, we would expect energy costs to remain at relatively moderate levels. Next slide, please. But as I said before, it's not only a story based on a series of supply shocks. What we have seen at the same time is that the recovery of demand has contributed to add some further inflationary pressures as well. And in some cases, this strong reward in the demand is the reflection of the accumulation, the significant accumulation of savings during the pandemic. That have sustained this strong demand in some goods and services and discontinuity to maintain a relatively high inflation grade. This picture in this slide shows how quickly and how intensively the original inflationary shock has spread to the vast majority of services and goods in the consumers' basket. Just to recall that at the end of 2021, that is less than one and a half year ago, more than 50% of the goods and services in the basket were still having prices. The growth of their prices was still below 2% for half of the items in the basket. Now at this stage, as you can see there, the vast majority near 90% of total items in the basket are experiencing price growth that is above 2% and even 4%. So the vast majority of the items in the basket are growing at significantly higher rates. So next slide please. So we pay a lot of attention at the ECB to the different metrics of what we call underlying inflation, which typically captures the most stable and persistent component of inflation dynamics. I mean these are typically those goods and services whose prices move more slowly, contrary to what happens with the most volatile elements in the basket like food and energy that we know move very, very quickly. So for us it's very important to look at the evolution of prices of these other goods and services because they provide a very useful signal about potential future inflation dynamics. And what we are seeing by examining a relatively large battery of underlying inflation indicators is that first, all these metrics that focus on different aspects of this underlying inflation dynamic process, all these indicators are telling us that underlying inflationary pressures are still at very high levels. And even though we are seeing some of these indicators easing, some of them seem to be low enough and some of them even have dropped in the last few months. But still the level of underlying inflationary pressures according to basically all of these indicators is still at historically high levels. And this is of course an element of concern because this means that inflation which has been too high for children is probably going to remain above our medium term target of 2% for some time still. Next slide please. So in parallel to these let's say more exogenous shocks or perturbances related to energy related to food more recently and demand factors what we have seen from the side of income sources is that both wages and unit profits have contributed to the acceleration of inflation. In particular unit profits have contributed significantly to the acceleration of inflation in the last few quarters. This has probably been possible because demand in some sectors has been very strong relative to supply capacity that in some cases has been reduced constrained by this sort of bottlenecks that I referred to before. In some other cases, we know that whenever inflation is very high for everybody is relatively easier for firms to pass through the increase in the cost without facing significant decreases in their market shares. And certainly the shock to inflation to energy prices has facilitated this rapid reprising by my firms that in some cases may have allowed them even to not only to maintain their profit margins but also in some sectors in some particular parts of the economy even to increase their profit margins. So this component unit profits as I said has contributed significantly in the last few quarters to the acceleration of domestic prices. Now looking forward we expect some moderation precisely because some of these factors that have pushed up unit profits like this imbalances between supply and demand in some sectors, the high cost of energy are temporary factors. Indeed energy costs as I said before have normalized significantly but still for the time being this is an important driver of domestic prices in inflation. And the other important element, next slide please, of course is wage growth. I mean for many years wages grew at very modest rates in the euro area for the last decade before the COVID rate we know that wages were relatively flat, relatively subdued. They wouldn't react much to shocks to the economy but this situation changed after the COVID, after the pandemic. In the last year or year and a half we have seen some strong acceleration in wage growth and indeed we are still in a period in which wages keep accelerating. And this of course is one of the elements that is contributing and will contribute for some time to strengthen this underlying inflation dynamics. Next slide please. So, looking forward, how does the outlook for inflation looks like? Well we are the ACB and I guess this is true for many other analysts and institutions. We pay a substantial amount of attention to indicators about future inflation expectations. These are good references for us in order to learn what economic agents are thinking about the future evolution of inflation. And we look at the wide set of inflation expectations indicators. Some of them coming from the consumers, some of them coming from the firms, some of them coming from market participants. We also run some specific surveys to learn how people think about the future evolution of prices and inflation. And the signal that we get from this wide battery of indicators of future inflation expectations is pretty clear. Most agents, all agents, all groups of agents are essentially telling us that they expect some significant reduction in inflation rates. So that most indicators of inflation expectations in two, three years time are very close to our medium term inflation target of 2%. But it is true that this inflationary process will take some time. But it is remarkable that in spite of the very, very significant shocks that we have received over the last couple of years with very high inflation rates, at some point even above 10%, medium term inflation expectations held by most agents are relatively well anchored around this medium term reference of 2%. Next slide please. So this picture in this slide summarizes I think in a very clear way what has been the recent narrative about inflation in the euro area and also contains some useful information about how we see inflation evolving in the coming years. The story of inflation in 2022, as I said at the beginning of the presentation, is very much a story based of the huge energy cost shock. Half of inflation rate in 2022 can be attributed to this rapid increase in energy inflation, the green bar in this picture. Now in 2023, I mean, unless there are new shocks, which in principle we are not discounting significant costs on the energy front, but the situation is not fully normalized. But in principle the scenario for energy supplies is better than in 2022. Energy inflation should be very, very small this year. However, as you can see there, food inflation is still contributing very significantly to total inflation. And this is going to be the case for the coming months as well. And now this year as well, what we are seeing is that what we call the HICP excluding energy and food, which is our most popular metric of core inflation, one of the key components of underlying inflation, is accelerating, is gaining traction. And this captures the prices of non-energy industrial goods and services mainly. So for some time we will see still relatively high inflation rates for goods and for services. To some extent reflecting the accumulated inflation pressures in the pipeline of the production processes of these goods and services. So it will still take some time for these accumulated pipeline pressures to be fully transmitted into the final prices of goods and services. And this will explain that core inflation, which is receiving a lot of attention in the media and in the reports of the analysts, will be still relatively high for some time. Later on, in 24 and 25, we should see, according to our forecast, we should see some further normalization in all components of inflation. And in particular, we should observe some moderation of core inflation. This again, in the absence of new shocks to any of the consumer basket components, this should allow the inflation, the inflation, the headline inflation rate to get back to levels very close to our 2% interference by the end of 2025. Next slide, let me just finish with mention on what the ECB is doing, has been doing over the last one year and a half to tame this inflationary episode. I mean, we started to change our view on the appropriate monetary policy stance at the end of 2021 when the Governing Council of the ECB already communicated its intention to discontinue the pandemic program for asset purchases. And since then, there has been a very, very significant increase, as you all know, in our main policy interest rates references. Actually, since the first interest rate hike that took place in last July until now, interest rates have gone up by 375 basis points, which is a very significant and very quick tightening cycle. In this picture, you see how different references for short-term and long-term interest rates have changed since December 21 until now. And you can see that there has been a very, very significant increase in these interest rates references. At the same time, the ECB has made important decisions pertaining to the management of its asset purchase programs. Initially, we stopped the net purchases of assets and in the last Governing Council meeting that took place a few weeks ago, the Governing Council decided to stop reinvesting the mature insecurities of its main asset purchase program, the so-called APP. So all these decisions are the reflection of the strong determination of the ECB to deliver on its mandate and to facilitate the convergence of inflation to 2% in a timely manner. So my last slide is just to illustrate, can you move forward? It's just to illustrate that monetary policy is transmitting quite swiftly and smoothly and strongly to the main prices in the financial sector. What we are seeing is that the interest rates of loans for firms or for households are adjusting in accordance to the rise in our policy interest rates. And this is already having some contractual impact in terms of the evolution of credit, which is a necessary ingredient to moderate demand as a prerequisite to moderate inflation and to finally arrive to the point at which we all want to arrive in a timely manner, which is one in which prices grow at a significantly lower pace than the current one, in line with our medium-term target of 2%. So let me stop here and happy to take some questions. Thank you, Oscar. Thank you for this very interesting and comprehensive presentation. We now go into a conversation and a discussion with questions, with answers, hearing your views. I know it's been a lot of information to digest, but let's get going. If you would like to ask a question and then please raise your electronic hand until I call you and then unmute yourself and that you can ask your question and then we try to answer them. If at the end of this session we don't have time for all of your questions, please do write them in the chat and we would all follow up later on. But maybe we start first with the first question here, Dara Turnbull of Housing Europe. Please, Dara, what would you like to put to our panelists? Thanks. Thank you for the presentation. I have two questions. The first one is that we see and as you mentioned unit prices or unit profits have increased due to scarcity primarily in the market. What I'm wondering is that is there now a risk that given that producers have seen that those profits are tolerable to consumers, that those prices, those higher prices become embedded within markets even as supply chain issues and other issues they're causing scarcity decline. The second question I have is related to the impact of housing costs. Of course in HICP we don't measure the only occupier cost of housing. It's a separate piece of work produced by Eurostat, for example. But I'm wondering to what extent issues like higher interest rates, particularly from mortgage holders are being considered by the ECB in terms of their outlook for where interest rates need to go and how housing costs outside of HICP are factored into your equation. Thanks a lot. Oscar, how are you? Well, thank you. Thank you very much for this very, very interesting question. On profit, on profit margins or unit profits, which is our most preferred measure to think about this issue. I mean, in principle we maintain the view that in spite of this strong rebound in unit profits that we have seen over the last few quarters, we expect some moderation of unit profits as we go further into our projection horizon. Why? Well, essentially because the main factors that have pushed unit profits up we think are of temporary nature. Let me mention again the two or three main factors that are allowing firms to or many firms, not all of them, but many firms to maintain relatively strong unit profits. Well, in some cases this was due to bottlenecks that restricted the supply of some goods at a time at which the demand for those goods was quite strong. This was the case with many industrial goods. Now we know that bottlenecks are recent. That transportation and logistic change are normalizing quite fast, I would say in the last few quarters. Also this artificial reduction in supply is probably losing some relevance. This factor should probably be less important when thinking about the future evolution of profits. Another important factor was the situation in which energy prices went up very, very quickly. This we think could have facilitated that many competitors would rise their prices because it was relatively easy to justify in front of their customers that they rise their prices because energy was very high and so on. This situation has changed also quite significantly. Now we are not in a normal situation of course in terms of the energy context has improved significantly with respect to what we had just before the last winter. So now I guess it's going to be more difficult to go for this kind of across-the-board increases in prices based on the justification of very high energy costs. The third element which is perhaps going to have some more persistence has to do with the very strong rebound in the demand for some services. Those services that I mentioned before that are benefitting more from the reopening of the economy, traveling, tourism related activities and so on. We know that the demand is being very, very strong. Probably there is a very important component of pent-up demand there. This is drawing a context in which for firms it's quite let's say easy to set relatively high profit-unit profits because demand is very strong and supply at least in the short time is relatively constrained. This element is still pushing up prices I think. But in our forecast we expect the unit profits to moderate as long as these three factors lose some momentum. On housing-related issues as you rightly mentioned, I mean the HICP produced by Eurostat there is not an explicit component capturing the owner-occupied housing cost. So this is not in our reference for inflation. The main reason why we don't take into account in our reference the evolution of housing prices, essentially because housing prices has an important component of an asset which is likely to be sensitive with respect to changes in the interest rates of course. But being an asset is not something that goes straight into our price reference. The housing market is an important channel of transmission of monetary policy. We know that because typically it's very sensitive with respect to changes in financing conditions and this is why we are monitoring especially this market, this part of the economy because it's a good leading indicator of how our monetary policy is transmitting to the rest of the economy. This is, I think, what I can tell you about that particular issue. Okay, thank you Oscar. The next question is Anna of Burke, the European Consumer Organization. Anna, over to you. Thank you very much and very interesting presentation. I had a question actually on the banking sector specifically because you well explained that inflation passed very quickly onto consumers including in market credits and so on. But what we observe is that the profitability of banks is not passed on to consumers in terms of higher interest rates on saving accounts or lower charges for payment accounts, these kind of things. So I'm wondering is that something you are observing, assessing? Do you have data on this? And is there something where you see European Union could take action to mitigate this? Unfortunate situation for consumers? Well, that's a good question. Anna, thanks a lot for it. Of course, we monitor very closely the transmission of our monetary policy through the banking sector especially because the banking sector in the euro area economy as you know very well is a first order channel for the transmission of our monetary policy. It's probably the most important transmission channel or one of the most important ones. I mean what we have seen is that initially the increase in the interest rates transmitted very swiftly, very smoothly to the loans rates to the interest rates paid by borrowers. They also transmitted very quickly to the interest rates that banks have to pay themselves to get some financing from the capital markets. But you are right, initially we didn't see a proportional increase in the cost of deposits. This is changing, I would say. I mean according to the latest data we have seen some positive reaction in the interest rates paid by banks on deposits. Of course with some important differences. Oversight deposits still pay very, very low remunerations but time deposits are seeing some more significant increases in their interest rates. And we are seeing a very natural composition effect with more customers moving their money from overnight deposits into time deposits. So the average interest rate paid on deposits is going up. Maybe not as quick, not as much as many bank customers would wish. I would agree with you. But it's not something that the ECB can control directly. This is at the end, this is something that is controlled by the banks that is subject to the competition within the banking sector. And in principle it corresponds to the banks to set the rates on their deposits. It's not something that we can control directly or that is a target variable for us. It's an important one because it's part of the transmission of our monetary policy but it's not something that the ECB can control directly. Nor we have specific competencies on that particular matter. I would say that liquidity conditions are still very favorable so that there is still a lot of liquidity in the system. But in principle we would expect some fall in this liquidity and part as the ECB reduces the size of its balance sheet and absorbs some of the liquidity in the system. And as this happens my intuition, my hunch is that we would probably see some rise, some additional increase in the interest rates paid on deposits. But this is not something that we can control directly. Thanks Oskar. And the next question is from Kuba Gogolevsky of Greenpeace. Kuba, over to you. We don't hear you. Do you hear me now? Yes. Given that last year there had been a decrease of oil, gas and electricity use in Europe and you've shown that energy was an interesting component of inflation, do you have data how much the decrease in demand has been contributing negatively to inflation? And the same, we have now a target on the EU level also for the decrease, 15% of increase of gas demand use, right, that translates to 60 BCM. Do you have indication or data how much the reduction on demand correlates or translates into decreased inflation forecast for 2023? Thank you. Thank you very much, Kuba. I'm not aware of any specific estimation of the impact of the fall in the demand for the different energy inputs on their prices. In some cases because the prices of these energy inputs are set at the level of the global international markets. So they do not only depend on the evolution of demand by European consumers. But what is true is that we have seen a significant drop in the demand, for instance, for gas by EU consumers. As far as I remember, according to some estimates by the European Commission, we have seen a 20% drop in the total consumption of gas with respect to the previous year, which I think is a remarkable important effort by all EU consumers, that certainly goes in the right direction. As a consequence of a combination of some policies that were there to facilitate or to incentivize the reduction in consumption, but also we cannot forget that this significant reduction in gas consumption has been probably possible also because of good luck, because we had this relatively mild winter. For sure all this has facilitated some further reduction in the prices of gas. I mean, to which extent this is driven by the demand of European consumers, that I cannot answer directly because it's quite a globalized market and the supply comes not only from Russia, but from an increasing number of suppliers. But certainly the contention of the demand, the restraint of the demand, which I think is good news overall, has for sure contributed to moderate the cost there. Okay, thank you. The next question is from Lukas Krebel of the New Economics Foundation. Lukas, over to you. Hi, thanks very much for this presentation. So I have two related questions I think about the supply side character of this crisis and the ECB response. So first is, so given the inflation episode as you showed, it was mainly driven by the shocking energy prices, mainly gas prices and how they transmitted to the wider economy. So now we reach the point that, you know, some base effects start to come into play like, you know, once we are more than a year since the price shock happened in order to base price level that we calculate pressure on will by itself lead to reduction in the rate. And then the second thing, like as you also mentioned, the energy prices and gas prices have been coming significantly down. So we would expect the inflation rate to start to reduce by that. So to what extent you see it's simply not a matter of those two things materializing like the base effects and the energy input prices falling significantly down. Highly impact on inflation rate going eventually down. To what extent you think that the ECB response of higher interest rates has driving this fall in inflation when it's so much to do driven by supply side. And so mentioned, you know, there was very quick, like first order impacts like the loan interest rates and so on. But as we know, you know, this is famous sake of long and variable lacks about how long the policy takes to trust with the real economy. So we're very interested to hear your thoughts about to what extent you see this tightly placed major role in that crisis. And a quick related one to that. So since, you know, energy input was such a driver of this crisis, so we had obviously energy supply issue while also the EU has planned to move towards cleaner energy system. So the ECB considered that, you know, the policy response should try to address the supply side in some way rather than focus on demand such as, you know, inflation was not really driven by demand, but to start with at least.  So how we could actually reduce demand for this very volatile input or fossil energy, would you not consider like the better policy response would be of dual interest rate policy when we want to maintain cheap interest rates for the fix that will help to reduce our demand of this very volatile input that has divided inflation. Thank you. Thank you. Thank you. Thank you very much. Lucas interesting, but tricky, tricky issues. No, the first one, I think you are absolutely right. I mean, what we have seen in terms of the moderation of energy prices is not much to do with the response of the ECB's monetary policy. I mean, this reduction in energy costs have to do more with the normalization of supply, with the substitution of deliveries from Russia and gas from other providers and so on. I mean, it's not monetary policy for sure. Not that the capacity of monetary policy to counteract supply shocks is very limited. I mean, especially in the short run, there is very little to be done on that. Still, I think the key question here is, and it's a fair question. So why if this is originally a supply shock, why is the ECB tightening? It's monetary policy. I mean, my reading of your underlying question, in a sense. Well, I guess there are two or three reasons here. First of all, as I said before, I mean, even though the most visible shocks triggered in this inflationary episode are located on the supply side, energy, bottlenecks and so on. I mean, as I said before, I mean, it is undeniable that there is an important, significant demand component there. So it's not only in the story of supply. Demand has been quite strong, especially after the reopening of the economy. And monetary policy can't and should act through demand. So it's not only supply, it's demand and this, in a sense, justifies the kind of restrictive policy that we are implementing. But also, even if the origin of the shock is located on the supply side, I mean, we know we have to avoid at all costs an scenario in which inflation expectations become the anchor. And they may become the anchor just because of an initial supply shock. But it is our job to keep these inflation expectations well anchored because we know that the alternative would be much more detrimental in terms of growth, employment and social welfare. So this again justifies a swift reaction by the central bank in order to keep inflation expectations well anchored. So even though we cannot do much in the short term to moderate the inflationary impact of energy shocks or other supply side shocks, I think that in the current circumstances it is very much well justified and a strong reaction by the central bank. First of all, to moderate the inflationary pressure coming from the demand side. And second, to keep inflation expectations well anchored around our 2% target. On the second issue, Lucas, if I got it correctly, in a sense you are questioning whether it would be preferable to keep interest rates low to facilitate, let's say, policies heated towards the green transition, not the energy transition. Is that right? Was that the question? Yes, to clarify, yes. Given the ECB's primary mandate, so given how energy shocks, I mean it's not the first oil and gas shock that the Western World experienced, this energy will always be volatile. So considering that, should the ECB consider policy that might take interest rates low for transition, not just for the climate goals, but also to reduce our reliance on volatile fossil energy and, you know, high price stability in that way? Well, I mean, there is a very strong logic in your conjecture. But let me just re-emphasize that the ECB has a very clear mandate for good reasons, which is a mandate on price stability. And in order to deliver on that mandate, this mandate is, of course, well grounded, as I said just a couple of minutes ago, on the idea that preserving price stability is the best service that a central one can do in terms of providing the best possible conditions for sustainable growth, employment creation, and social welfare. So our mandate is to keep price stability. It is for other actors to probably lead this transition towards greater energy mix. We know that the ECB is very much supportive of this green transition and without prejudice of our main mandate on price stability, the institution is supporting wherever it can, and again, conditional on not running against its primary mandate on price stability, is favouring this green transition. But it is for other actors to lead with the appropriate tools that we lack here at the central bank to promote this transition. And I think that in this respect it is for other actors that are much better equipped than we are to steer this transition. And interest rates are only part of the equation. I think there are other more important tools to facilitate this transition that we all wish to take place in a timely manner. Thanks a lot, Oscar. So far we don't have any further raised hands. If there are any... Oh, there's Jordi. Jordi has raised his hand. Jordi, can you... Yeah, get on the screen. Great. Yeah, thank you. Can you hear me? From positive money, yes, I understand. Yes, we can hear you. Okay, perfect. Thank you very much. Yeah, you have said multiple times today that you see the man also being an important player and you see the man being too high. And I listened to a speech by Philip Blaine not long ago and he has a nice slide where he shows that private consumption and total investment are right now just slightly above 2019 levels in real terms. So on what indicators are you raising your claim that demand is high or a driver of inflation? I would be interested in your answer. Thank you very much. Well, that's a fair point, Jordi. I mean, when assessing the inflationary component coming from demand we have also to take into account what is the position of the supply schedule. What are the supply conditions? And you are right. If you look at the absolute levels of consumption and investment one would conclude that we are not above, significantly above pre-COVID levels. But we have to take into account that for most part of the recovery period of the recent recovery period and for most part of the inflationary episode supply conditions have been quite constrained. We're thinking about bottlenecks in the industry. We're thinking about some services are still being constrained by pandemic related measures and so on. This means that the supply side was not working at full capacity. So this means that even if demand was not above the level prevailing before the pandemic, the inflationary pressure was relatively high because supply in some of these sectors was not sufficiently elastic due to this combination of supply bottlenecks, high prices of energy, other commodities and so on. And this is undeniable when you think about some specific sectors. As the sectors I mentioned before, those sectors are benefiting now from the reopening of the economy related to services close to tourism and so on. I think it is undeniable that there is a very, very strong demand component there which is driving prices up. The question of identifying with precision which part of inflation is supply and which part of inflation is demand is always a very tricky one. Our experts have tried to decompose the different components and the diagnosis is clear. At the beginning of the episode it was mainly supply, but as the economy reopened demand factors played a very significant role. Another aspect in which you can see that supply is relatively limited given the ongoing demand dynamics is the labour market. We have plenty of information coming from corporates telling us that they are facing significant labour shortages in many sectors of the euro area economy. So there is lack of the economy. The unused capacity of the supply site is probably very limited given the ongoing demand conditions. Thank you very much. Oscar, are there any further raised hands? I don't see any at this moment in time. Maybe Sara wants to... Some final comments before we wrap up. Sara, yes, please. Thanks a lot. It was really useful for us to hear your questions and just to say that a lot of the issues that you raised about the banking sector, about the housing market, about demand, about supply are things that we really look at on a daily basis here. I think for us in projecting forward for the economy what's really key is looking at how our monetary policy measures are going to work on all of those aspects. The last point that we had there on demand I think is a crucial one. So while, of course, monetary policy works with long and variable lags, we do see over a projection horizon that it will dampen demand and bring prices back down to our target. Now, of course, the Governing Council meets every six weeks for good reason that we have to respond to new information coming in and we take account of all of these factors into our models, into our judgement around those models and we're constantly changing, adjusting, addressing all of these issues. So, I mean, for me, I think just as a wrap up, we've listened also very carefully to the points that you've raised here around all of these issues. I would invite you all to keep an eye on our website for communications on this. I mean, our colleagues in the ECB are working very hard on all of these issues, how, say for instance, climate change is impacting inflation, how bank lending conditions are going to affect households and firms and we try to communicate on this as much as possible. So from my side, I'd just like to thank you all for the dialogue. It's been very useful for us and we're always happy also bilaterally to communicate on any of these aspects in the future. Thanks, Sara. Oscar? No, that's fine. I mean, just to re-emphasize what Sara just said, I mean, for us it's very useful to have these dialogues and to have these exchanges with our fellow citizens and thank you very much for the attention and in particular for the very high quality of the questions that went really to the core of our main concerns these days. So thanks a lot. Thank you very much. Thank you very much, Oscar. Thank you very much, Sara. Before you leave, can I ask you to answer a couple of questions in a feedback survey? We should be appearing on your screen. That survey will help us to make these kind of exchanges better. It's completely anonymous, of course, but it helps us a lot to develop this further. And while you're filling the survey, I would like to thank Sara and Oscar very much for the time they spent and thank you also to you, as mentioned before, for your very valuable contribution and question. Thank you very much indeed.