Transporting road maintenance and construction materials to the worksite requires a dependable dump truck in almost continuous operation. Lack of materials at the worksite will slow down or completely shut down the progress of the road project. No matter what the make or age of your truck, you can help ensure its dependability by following the operator daily maintenance procedures. This videotape will show you the general methods and procedures for operator daily maintenance on dump trucks. But these procedures can be used for other types of transportation vehicles, such as asphalt distributors, water trucks, fuel trucks, and maintenance equipment. Each agency has their own specific maintenance activities and each equipment manufacturer has its recommended procedures. It is your responsibility to be sure that none of the special requirements for your machine are overlooked. Follow along with our operator as he goes through the complete set of daily maintenance activities. Using a check-off list, our operator has divided the daily checks into four groups of activities. The activities are the pre-start check, the warm-up check, the daily operating check, and the shutdown check. If during these activities problems are discovered, follow your local guidelines to determine corrective procedures. Now watch our operator as he begins with the first activity, the pre-start check. This is a walk-around inspection for damaged or worn parts and fluid leaks. It also includes fluid level checks. Check the air pressure of your front and rear tires. Be sure all valve stems are equipped with valve caps and that they are securely screwed down. The truck manufacturer should give you the recommended tire pressures for your make and model dump truck. Also, check the tires for wear and damages such as cuts, radial cracks, and sidewall damage. Remove any stones embedded in the tire treads and check for rocks that may be lodged between the dual rear tires. Rocks lodged there can cause tire failure. With the added weight of material in the dump body, a tire problem could cause you to lose control of your truck. Part of your pre-start check also includes looking for any fluid leaks. Fluid leaks can affect the safe and efficient operation of your dump truck. Look under the engine compartment, the transmission, power take-off, and the differential. If you see any wet spots or stains on the ground, look above the spot to locate its source. During the pre-start check, inspect for loose or worn components. If loose components are not taken care of immediately, they can cause serious maintenance and safety problems in the future. Be sure to check the steering linkage for excessive play. Inspect the brake hoses for bruises and cuts. Check the suspension system. The next area for inspection will be inside the engine compartment. Here, the engine fluid systems need to be checked for leakage. Hoses should be inspected for cracks. Make sure they are not pinched. Connection should also be inspected for tightness. Fuel and oil filter leaks are most common around the filter bowl seals or at the hose connections. Feel the bottom of the oil and fuel filter bowls for any leakage. If any leaks are found, notify your supervisor. That completes the inspection for fluid leaks, but you still need to know if the fluids are at the correct operating levels. In the engine compartment, you should check the engine oil level. The oil must be within the safe levels indicated on the dipstick. If the oil level is near or below the indicated level for safe operation, do not start the engine. Add the proper type and amount of oil until the full level is reached on the dipstick. Next, look at the fluid level in the power steering pump. If fluid is low, you will need to add power steering fluid to the proper level on the dipstick. In carrying out this procedure, use only the type and grade power steering fluid recommended by the truck manufacturer. The power steering is essential for controlling the truck on turns and for greater maneuverability both on and off the road. Now look at the radiator coolant level. If your vehicle is equipped with an overflow tank, check the level there. Be sure the coolant is at the level required for your particular vehicle. Add more coolant if needed. Never remove the radiator pressure cap when the engine is hot. The cap is designed to maintain pressure in the cooling system. This pressure, if released by removing the cap, could cause serious injury to you. The fan will help control the temperature of the coolant. Proper operation of the fan depends on the fan belts. They should be checked for wear and tautness. Important additional inspections are at the battery. If your battery has a protective cover, remove it. Now start your inspection by checking the fluid levels of all the cells. If your truck is equipped with a maintenance free battery such as this one, you will be unable to determine battery fluid levels. A quick inspection of the hydrometer will be all that is needed. The green color as shown here indicates a charged battery. If this indicator turns dark, notify your supervisor immediately. If your battery is not the maintenance free type, use the following procedure. If needed, fill each cell to just above the top of the battery plates with clean, distilled water. Never fill the cell to the top of the filler neck or allow the fluid to drop below the top of the battery plates. Always follow your local guidelines when working with batteries. After you have checked the fluid level in the cells, make sure the battery is securely fastened. Inspect the battery cables, clamps and connections for tightness and corrosion. A word of caution. Batteries give off explosive gas. There should be no open flame or smoking permitted around the battery. Now we are down to our last two pre-start checks. Before you start the engine, you should drain the condensation and sediment from the fuel tank. To do this, a drain cock is provided at the bottom of the fuel tank. Open the drain until all condensation and sediment have been removed. Be sure to close it. Never perform this operation while smoking or with an open flame in the area. You must also drain the condensation from the air tank. Overnight, condensation collects in the air tank. This moisture can cause serious damage to your brake system if not removed daily.  Be sure to close it. Use caution when working with air under pressure. Before we go on to the equipment warm-up activities, you may wish to stop the videotape at this point and review the inspection steps. In the last segment, we finished our pre-start checks. Now let's go on to the second activity, the equipment warm-up check. The equipment warm-up check is carried out in the parking area. It helps ensure that the truck will perform as it should during its daily use. Before starting the engine, make sure that the transmission is in the neutral or park position, that your parking brake is set and the clutch is depressed if so equipped. Turn the key to the on position. If your vehicle has warning indicator lights, these lights should come on at this time. If all the lights are functioning, start your engine.  If any of these lights remain on, turn off the engine and have the system inspected. The engine needs to be warmed up for 5 to 10 minutes. This warm-up period allows the oil pressure to build up and lubricate all the moving parts of the engine while the coolant circulates and heats the engine to its operating temperature. It also permits the air compressor to build up pressure in the air tank. You need to inspect the engine's air filter system. The air filter has an indicator which warns you when to replace the air filter element. If the indicator shows red, as demonstrated here, the operator should have the air cleaner element replaced or have the original element cleaned with compressed air. Never operate the engine without the filter in place. This can cause extensive engine damage. During the warm-up period, you should record the hours registered on your hour meter. If your vehicle is not equipped with an hour meter, record the miles or kilometers registered on the odometer. The reading on the hour meter will determine when you need to notify your supervisor that it is time for periodic maintenance on the equipment. During this warm-up period, listen for unusual noises.  Now, take a close look at these gauges. Does the amp meter read on the positive side? Is the oil pressure in the safe zone? Is the fuel tank gauge functioning? Is the fuel tank full? Is the temperature gauge reading in the safety zone? Has the air pressure gauge risen to its safe operating level? Since your vehicle will be used on public roads, it's important to check the various lights a helper can assist you. Turn on the headlights. Now try the high beams. Next, try the turn signals. With your helper at the rear of the vehicle, try the brake lights, turn signals, and backup lights. This test will make sure that the lights are operating and in good condition. Testing the hydraulic hoist system is an additional warm-up check and should be done at this time. Listen and watch as the cylinder rod raises the dump body. Does the cylinder rod extend smoothly? Are there any unusual noises? Are there any hydraulic leaks visible? Now, check the power steering system. Do the front wheels move smoothly in response to the turning of the steering wheel? For our last warm-up check, test the brakes before leaving the parking area. Be sure that all personnel are clear of the truck when making this test. Release the parking brake. Put the dump truck in motion, then apply the brakes. Your brakes should feel solid. If they do not hold or if they need to be pumped, shut down your vehicle and notify your supervisor immediately. All these checks are important to both you and your equipment. Don't leave the parking area until you have determined that the truck is operating as it should and all the inspections are satisfactory. The third daily maintenance activity, the daily operating check, is carried out during daily use. As you perform your various tasks, don't forget these daily operating checks. During operations, you should listen for unusual noises. Read your gauges and be aware of any changes in the performance of your truck. You can look at these individually. Listen to your engine and powertrain. Do you hear anything unusual? Do you feel any excessive vibration? Any unusual noises or vibration would normally indicate a mechanical defect that could be causing serious damage to your truck. Are there any noticeable changes in the performance of the truck or the hydraulic hoist system? Read your gauges constantly. Watch pressures and the temperature closely. If any gauge indicates a problem, stop operations and inspect the faulty system. If needed, notify your supervisor. The fourth and last daily maintenance activity is your shutdown check. The shutdown check helps prepare your vehicle for the following workday. First, pull into the fueling station and completely fill your fuel tank. When doing this, be sure all fueling equipment is clean. This prevents any contaminants from entering the fuel tank. Since these are flammable liquids, do not smoke or have an open flame in the area. Your agency may provide an area to clean your vehicle. If one is available, pull into this area next and clean away dirt or material from the truck. After your vehicle has been cleaned, you should park it in the designated parking area. Put the transmission in park. First gear if you have a standard transmission. Now set the parking brake. Let the engine idle for approximately five minutes before turning it off. During this time, you can record the hour meter reading. Check this reading with the one you took at the start of the workday. This will assure you that the meter is working properly. That completes the detailed description of the four major daily operator maintenance activities. Now, we will review each one of these activities again. The first activity is the pre-start check. The pre-start check is a walk-around inspection that includes checking tire pressure, looking for loose or worn parts, inspecting for fluid leaks, looking at fluid levels, and draining fuel and air tanks of dirt and condensation. The second activity is the warm-up check. These checks are made from inside the cab while the engine is warming up. Be sure to read the gauges, test the lights, the hydraulic hoist system, the steering system, and the brakes before you leave the parking area. The third activity is the daily operating check. Operating checks during the workday include listening for unusual noises, reading your gauges frequently, and being aware of any changes in the equipment's performance. The fourth and final activity is the shutdown check. Fill the fuel tank. Clean away dirt and material. Park the dump truck on a level surface. Set the parking brake. Let the engine idle for approximately five minutes before shutting it off, and record your hour meter reading. This videotape has included general maintenance procedures. Your agency may require that you modify certain activities. There also may be additional safety inspection points. If so, follow your operator guidelines. This concludes the videotape on dump truck operator daily maintenance. Following these procedures will help ensure that your equipment is properly maintained in good operating condition.


In this video I am going to be discussing the predatory narcissist, please like the video, share your thoughts in the comments, if you haven't subscribed yet please click the subscribe button underneath the video, click the bell icon as well so that you can receive all of the notifications of my future videos, please share the videos so that they can help others just as they have helped you. If you would like to make a donation, there is a dollar sign icon underneath the chat. This will also allow your message in the chat to remain viewable for a longer period of time. I appreciate all donations no matter how small. If you are interested in a one on one coaching session with me, my email is in the video description. Ok so let's discuss the predatory narcissist. Narcissists are predatory, it's like a lifestyle for them. This is what they do all day every day. If they are not currently preying on some unsuspecting victim, they are plotting or working on some plan of action. They target people who are at a state of happiness, progression or success which they are envious of.  Because they cannot get the same fulfilment and they are envious of your happiness, progression or success, this is all carefully planned and premeditated. What drew them to you in the beginning is what they will soon desire to take away or destroy.  So if you want to know what it is that they are envious of, pay attention to what they are trying to sabotage or prevent in your life. When the Narcissists first met you, it is likely that they began to check your family and social circle. They wanted to see how much support you had. They wanted to see if there would be anyone who could potentially remind you of who you are, someone who could reinforce your intuition or tell you when something is wrong. The Narcissists likely became aware that you did not have anyone close to you who could interfere with their manipulative tactics such as denial, projection, blame shifting and gaslighting. When the Narcissists first targeted you, they were looking for some form of deficiency in your life. In the beginning they may have created the illusion that they were giving you something of value or they may have future faked and made you believe or trust in them and what they were saying or showing to you. Once the predatory Narcissist has found something that you are missing in your life, they will use this to dominate and control you. They will use this to keep you in the relationship so you cannot escape. Narcissists often choose victims who are struggling financially so that they can trap them in their web. In the beginning of the relationship or love-bombing phase, they will extract whatever attention, validation, approval and admiration they can get from you. At this point you will be a positive source of supply but over time this no longer satisfies them and this is when they will move to the devaluation phase of the relationship. At this point the Narcissist has secured you as a source of supply. They never fulfilled whatever the deficiency was that you originally had but they gradually provided you with this to keep you locked in and unable to escape from them and this is the part of the relationship where you really do want to escape. During the devaluation phase, the Narcissist will abuse and manipulate you. They will target your self-worth, self-esteem, self-belief, self-assurance and self-respect if you try to confront them on their change of attitude or behaviours.  If you continue to threaten their control over their situation, they will withhold whatever it is that you need from them.  When they targeted you in the beginning, they knew that you would be the perfect target for their abuse. They knew that you would fall prey to their manipulative tactics. It's as though they had this predatory sixth sense which they used to detect who would be vulnerable to their games. They studied your family and social circle so they knew that you had no one close to you who would provide you with support. The predatory narcissist operates in the same way as a child molester. It's like they instinctively knew from the beginning which child they would be able to manipulate. This is done through analysing your family and social circle, ensuring that you have no support.  Using manipulative tactics so that you doubt yourself and your reality and even assume responsibility for the current circumstances, withholding from you and using the future fake in tactic. The child molester looks for a target who doesn't trust their own feelings or perceptions. You may have been brought up in an environment where you had a certain feeling or perception and you were told that it was wrong. Even when it was correct, the narcissist instinctively knew that they would be able to invade your life and get you to doubt yourself and your reality. The child molester can instinctively spot loneliness in a child. They know when a child is not receiving attention from their parents. They know when the child is being neglected. The child molester has this instinct which is able to detect loneliness within the child. The predatory narcissist operates in the exact same way. In the beginning of the relationship, they will create a false character which is specifically designed to attract you. They will possess whatever traits you find attractive. This is the bait designed to lure you into the abuse like giving candy to a child. The predatory narcissist knows exactly what they are doing and for a short time during the love bombing phase, the narcissist will give the illusion that they are going to fulfill your needs or requirements. Whatever it is that you desire from them, whatever deficiency it is that you had which they then targeted but over time the illusion will fade away to reveal what they really are. The attention, validation and admiration you once received in the beginning of the relationship will disappear and this will be replaced with abuse and manipulation. The predatory narcissist really does operate in the same way as a child molester. Think about all of the characteristics that a child molester looks for when targeting a child. These characteristics toward the narcissist was looking for when they targeted you. They both target some form of deficiency, loneliness, isolation, insecurities, having no parents or friends to protect them if you analyze your situation with the narcissist. You will be able to connect this to the child molester. The narcissist knew exactly what they were doing. They knew that you did not have the internal, external or emotional resources to protect yourself and that you would fall prey to them when they targeted you.  This is what gave them the ability to take control of you. It was premeditated and just like the child molester, they knew exactly what they were doing. This is what they think about all day every day. They have this sixth sense, this predatory nature. They are thinking about how they are going to target some unsuspecting victim through finding some form of weakness, vulnerability or deficiency in their lives. They then lured you in like giving candy to a child and gradually began to take away whatever it was that made you satisfied or fulfilled with your life until you had nothing left except them. Then they were able to abuse and manipulate you knowing all too well that they had trapped you and you could not go anywhere. At this point they did not need to give you any more candy, it did not matter if you starved because they knew that you had nowhere to turn to, you had nowhere else to go and they knew that you were not going to leave because you were afraid of being alone.  Please protect yourself from these predatory narcissists. They do not have your best interest in mind. They only wish to control you and secure you as a source of supply. They do not care about your emotional needs, they are self-absorbed and lack empathy. Avoid revealing your personal information or anything about your family or social circle to the predatory narcissist. Revealing any form of vulnerability, weakness or deficiency. Like the child molester, they will make you believe that they can fulfill you in some way but this isn't what they are really about. They have a hidden agenda. The child molester is not interested in giving their child their attention or improving their lives. They just want to sexually abuse the child and provoke fear and shame within them. The predatory narcissist and the child molester operate in the exact same way so please be aware of this. Thank you for watching, I hope this video has resonated with you, please like comment and share, subscribe if you haven't subscribed yet and I will talk to you soon.


Byddwn i'w meddwl gweithio'r ddau, rwy'n ei fod yn ysgolwch ar y cwestiynau ymweld. Rydym yn ymweld i'r gweithio'n ddau, ymweld i'r gweithio'r ddau a'r wahanol, efallai yma'n dod i'r ffordd, ac ac yn ymweld i'r gweithio, ymweld i'r ddau, ymweld i'r ddau, ymweld i'r ddau. A'r dweud oherwydd, os yw mynd i'r ddau ar gyfer'u cystafol, is really a live one and it's been a live one because of this question of austerity because of austerity that is faced, the national health service and education and is faced by Airt Councils and Liverpool City Council in the recent period has had 58% of of its budget cut from central governments. Now, you probably don't know that. You might be the first time you've heard of that. And that's because Liverpool City Council is its present constituent, it's not campaigning, it's managing those cuts, it's following a policy of really carrying out those cuts and kind of managing them in the kindest way that they feel is possible. Back in the 80's, every single person in the country knew that Liverpool City Council was under attack from the Tory governments because there was a campaign that started When it became a national campaign, we had to discuss that particular struggle and how we fought the cuts in the 1980s, but in talking about the 1980s, we have to go back a little bit further into history of how this came about, because the first part I want to talk about how we came to the date of fighting the cuts. This is a marks of school so we need to y tro cymaint o'r rôl o'r marxistau yn y rôl, ac y rôl ymweld yn y marxistau yn y rôl o'r marxistau. Mae'r rôl yn y 1980 oed yn yr oedd yn cyfnodd o'r milwyr. Y milwyr eraill efo'r rôl o'r marxistau yn y Llebu Ffarsie, yn y Llebu Ffarsie, mae'n gweithio'r cyfrwyr. Mae'r cyfrwyr a'r cyfrwyr yn y Llebu Ffarsie. Mae'r cyfrwyr, mae'r cyfrwyr, mae'r gweithio'r cyfrwyr, mae'r gweithio'r cyfrwyr. Fel amrygedecau, mae'r Llebu Ffarsie yn y maeth. mae'n wneud eich fawr, mae'r cyryrus, mae'r cyryrus fod원�au a'r cyryrus a'n gallu y digwydd yn colli Mededd ynALLim. O'r parell deuaippedo i elawer� experiment agricultural factory i'r junior saffers. Daeth efallai rhoi'r che Gordon, sef nad oedd yn mwybod eraill. DR÷P. Mae'r marxist yn yr 1950 oed mae ond ddawn i'r Lleju Ffarsie Şuil, Ond efallai gennych hynny'n gwyg ar bod ni'n medderilladau, y'n amser o'r cwm leaking i gyfnau'r llyfrgell ymlaenion o'r Llyfrgell. Mae'r llyfrgell sy'n cymhwyro â'r llyfrgell i gyfnau'r Llyfrgell, yn gwmhwyro â'r Llyfrgell, ac o'r bryd o'r bêfynnoes, o'r bêfynrwydd, a'n blynyddu i'r prynesau hyn rywbeth add y marxist yn dechau i'r gallu hynny o'r Llyfrgell. Now, there was another group of Marxists who joined the Labour party at the minority around about 30 comrades and all, around about 20 organised in Liverpool, the 20 organised in London were simply over about one ten in Liverpool. Those Marxists around the lead by Ted Grant actually believed that they should support the left against the right rywbeth i'w chymwaeig i fynd i gyd yn fwylo'rwyr rhaglen, i ffroedd i'w ddisgymwyr o'n gwisgrigolau'r cymnytau hynny, beth y gallwn gwneud hynny'n cael describes ond dim yn cael ei gynhyrchu. Roedd y mae'r ddechrau'r wych eren nhw'n fuddio a yw'r gweithwyr ar y program yw'r marxys, beth yw'r rhan i gynnwys o'r ysgrifennu ynglyn â'i gydfaith a gweithwyr o'r ysgrifennu i'r ac yn yr ystafell. A dyna gynnwys y parolau o'r campain o'r Gwymru yn fawr yn Ffaswr. Ac mae'r gwrthgor i'r gwrth, i ffaswr, mae'r cymdeithasio cyffredig yn dda yw ddweud i'r ddweud yn rhaid i'r ddweud, yr ddweud i'r ddweud, ddweud i'r bwrdd ar Ffraith Arth y Bryn ac i'r Gymru ac yn y rhaid i'r rhaid i'r gwrdd. A ddweud i'r ddweud, ddweud i'r ddweud i'r ddweud na'r Daidlyniad o Marksaeth ar Wyfyddwyr. Gallai yn arddur! Rwyf wedi gweld, mae g heed Hate Shuttle yn gallu chi addoriad a müsafindi i yw Marksaeth EU propaganda i fod yn llefiad yn campsyfu yn y yw'n dda, aww, dyna'r walton i'r rhesolwysiwn. Wel, walton yw yw'r area i Liverpool, dyna'r walton i'r rhesolwysiwn. Felly, dyna'r ddim yn fawr, dyna'r dda'n gast yn y tlu gyngor, dyna'r walton i'r gast yn y tlu gyngor, dyna'n gast yn y tlu gyngor, dyna'r dda, mae'n cofnodd wedi gwybod i'r ffosiwn, rwy'n gweithio yw walton. Mae'n gweithio'r gweithio, yna, ac mae ydych yn siŵn i'r cyfeirio, dwi'n rheswm, mae'r rheswm, mae'r dwybr ysbryd yng Nghymru yng Nghymru yn ddod yn gwybwyr. Mae'r ddweud yn golygu'r ddweud. Mae'r ddwybr yn ddod yn y ddod yn gyfyrd o gyllid o'r gwybwynd yn gyfnodol yn rhoi. Mae'r ddwybr yn gwybwynd yn golygu. Rwy'n ddwy'n gwybwyr. felly, yn y cyfryd, mae'n gweithio ei ei pwysig ar gyfer y rallu, rydyn ni'n dweud allan o gyllid yr ysgol Llywodraeth Cymru, ac mae'r refertor cyfnodau ffordd o'r perffor yma yn y Llywodraeth Cymru. So gydwch i chi i ddim yn ddim yn ddim yn gweithio'r ddysgu'r ddweud, ac mae'n gweithio'r gweithio'r ysgol i'r ysgol yma sy'n ddim yn gweithio'r perffordd yma. But that's crucial to the battle and you'll see that that's crucial to the battle later on within Liverpool and the debate around that battle. But in terms of Liverpool itself, a couple of things happened in the 1970s and a couple of things happened in the 1970s. One is the Tory government decided to attack the working class and attack people who were council house tenants. ac y gynllunio'r ddiddordeb yn Ymgyrch yn Llywodraeth Gweithgrifennol. Rwy'n ddiddorol i'r cyfarwyddau gwahanol, ar gyfer y gynlluniau, a'r cyfridd yma ar gyfer y cyfridd. Felly mae'r reall o'r gweithredu yn ymgyrch, ymgyrch, yw'r gweithredu a'u gyfridd, yn y Llywodraeth. Mae'r cyfridd, â'r cyfridd, mae'r cyfridd yn dda, mae'r cyfridd yn dda, mae'r cyfridd, a'r cyfridd yn ymgyrch, o'n ymdegysgwtio i'r cyfrannu'r ydych chi. Felly, rydw i'n gwneud o'r ffilm yn y ffeindio'r ystafell ac rydw i'n gwneud i'w dyfodol sydd wedi'u gwneud o'r ddod. Felly, rydw i'r ddod, mae'r gwneud o'r ddod o gyfrannu'r ystafell yn cael ei. Mae'r ddod o'r ddod o drosid o'r ddod o'r ddod o'r ddod. A dwi'n meddwl i'n gwneud o'r rai. Rydw i'n meddwl i'r rai. clas rent strike within that area and I say that because this idea of you know breaking the law and of fighting back against the system. People portray Marxism as some kind of alien beings, we're all aliens, we all just come and land amongst the working class and then we disseminate our ideas, subversive ideas. But basically the working class knows that when it comes to the limit, when it comes to a choice between having a decent conditions and breaking the so-called laws of the capitalist state, they know what side they're on. They know that they have to pick their families first and they have to pick their living conditions first before obeying the law. That breaks out and it's broken out many times over our history and one of those times was that rent strike in Kirby because the council there decided they were going to, despite the fact it was a Labour council was going to implement the Tory law. Apart from one honourable exception, one counciller who interestingly enough later became one of the Labour councillers in Liverpool and at the same time was that a Labour council did stand up and the Labour council did fight back and that Labour council was the Clay Cross council. We decided that there was not going to the Clay Cross Labour council. We are not going to implement this Tory law and they actually called upon other people to support them. There was a conference called that said no we're not going to go along with this Tory law. But Clay Cross itself was left isolated and two waves, two sets of councillers stood up for the people that they were there to represent and they were say charged. All comrades will know of Dennis Skinner but Dennis Skinner's family was actually involved in that. In Liverpool the same struggles saw a split, a three way split on the council with the left wing deciding that they weren't going to implement it but with the right wing implementing that. And those right wingers, and this is an interesting parallel, those right wingers when I joined the Labour party in 1977 there was the way that went round. The dacious word you could hear in Liverpool Labour party was implementer. And every time a counciller came up it would implement the House of Finance Act and it went through because there was an alliance between the right wing of the Labour party and the Tories on the council that we should deselect the implementers. We should deselect those councillers who implemented the House of Finance Act. But also at the time in Liverpool we saw the crisis, the real crisis of capitalism. I lived at the time in the late 70s in a district of Liverpool called Speak which is an industrial estate, an awakened class housing estate. And on that estate in terms of the ideas of Marxism, every day, periodically I would go out to my house and see the crisis of overproduction because we had the four tailwood plants and we saw cars stacked up all over the estate. Every little bit of green on our housing estate was taken up by cars that Ford couldn't sell. I also saw what Ted Grant in, there's the special crisis of British capitalism. In fact there was a factory there called Dunlops which made tyres and in 1979 that factory closed. But in 1979 the equipment in that factory dated back to 1911. I went into that factory as a photographer working for a local paper called Speak Press as a trainee and took a photograph of a giant mould with a rust hole in it, probably the height of this room. This was the crisis of British capitalism that was happening before the advent of Thatcher and I think that's important as Marxists to realise that. It wasn't just Thatcher had this idea of attacking the working class. She was taking that logic and the logic for her system was that the workers must pay for the crisis of capitalism. That led to thousands of workers being thrown out of work in Liverpool. It led to the real acceleration of mass unemployment that we saw within our city. It also meant that the council and the Liverpool city council became the major employer within Liverpool. We were faced and as part of that battle obviously Thatcher came to power in 1979 and one of the things she said is working class people must pay. There must be an austerity programme although we didn't call it that at the time of Tory cuts against working class people. What also happened and must be said is that the council at that time was in the hands but through a lot of the late 70s and early 80s the council started to be in the hands of the Liberal Party now part of the Liberal Democrats and the Liberal Party arose and became very popular because of the right wing of the Labour Party. The right wing of the Labour Party which ignored the aspirations, ignored the needs of the working class in Liverpool. That right wing of the Labour Party, that neglect from that right wing of the Labour Party led to Liberal councillors being elected in particular in the wards which are surrounding Liverpool city centre because they said we've got councillors we never see. They're not doing anything for the area. You've got an area around Edge Hill which had some of the waste housing in Western Europe and yet the councillors were not doing anything for it. Just as an indication of how out of touch they were, in this constituency that had the waste housing outside Western Europe, there was a by-election campaign. The Edge Hill by-election just took place in 1978 and that by-election campaign, in that campaign the Liberal upsage reached its peak. They stood a councillor, a candidate David Alton and this candidate everybody said well David Alton supports us within that constituency every Labour councillor had been defeated at the ballot box apart from one and then we had this meeting in which I was the young socialist speaker. There was the candidate and there was this councillor who was called Sahari Livermore. Sahari gets up and talks to the people in the room which fortunately was only two people such was the generation of the Labour Party in Liverpool at that time and said to them this election is not about housing. This election is not about the state of the streets or the state of your council services. This election is about bigger things like foreign policy and of course that went down like a lead balloon and that went down as the show that the Labour Party had become totally out of touch. But as you can see there was an upsage within the Labour Party of the left wing of the Labour Party and also of the Marxists who were in the Labour Party and saying we have to change and this Labour Party has to change. And there was a debate between us about how we take on the Tory cuts and this is where we come to this distinction between what is the left programme and what is a Marxist programme and the distinction was this that the left wing said well look at it. So having cuts, and this is a national picture as well, we've got cuts so what we've got to do is manage them in the best way we can for the poorest sections of society.  That was one of the places where the council got money, the other place where the council got money was the rate support grant and the rate support grant was the money that we got from the central government. Anyway so the idea of these lefts was well the people who pay the most rates are the better off within society and so therefore if we put the rates up and we increase the rates by higher than inflation we'll be able to compensate for these cuts without affecting really the poorest people within society. And so this had the same and of course this idea has come up again with comrade Chris Williamson MP who has brought this particular idea up and whilst again you know Chris Williamson should be absolutely completely defended against the right wing of the Labour Party I'm afraid on this particular position you know his position is wrong because we saw that the Marxist view and the criticism of that is that the rates were nothing but a pay cut and that by making that but by increasing the rates further than inflation what you were doing is what you were doing is making a pay cut and what it also meant is that if you look at it as a national strategy of fighting the cuts because in general the poorest councils the Labour councils are the poorest councils and they would have the rates of though they were you know if you look at council tax for instance the council tax for a low end of the property in Liverpool is higher than in some of the Tory shires some of the Tory butters down south and the reason for that is because there's more of those poorer dwellings so in other ways the council has to depend upon the poorest end anyway and increase the rates on those areas so we said it was a pay cut and we said what we're doing is all all we would be doing is deciding who which section of the waking class should be attacked by the ruling class and which section of the waking class should lose so the strategy put forward by the marxists in the Labour party by militants was that what we should do is fight the government to to retain the cuts to the to the rate support grant because that was what was being cut by the Thatcher government that we should retain those cuts and the strategy that was developed was one of a deficit budget of basically setting a budget where on the one side and the nearest thing i think we can come to that is some some activists are talking about a needs budget so we look at the needs of the community and this is what Liverpool city council did they looked at the need they looked at the need for decent housing they looked at the needs for you know for jobs and so on within the communities and said this is going to cost this amount of money and then we looked at you know we looked at where that money was going to come from and we did not want to increase the rates by more than inflation so it would leave a gap so it would be a deficit budget because it would leave this particular gap between what was coming in and what we needed to spend and what we were committed to spend but we weren't as in most deficit budgets going to borrow that from the banks what we were going to do was we were going to say that that is the money that we're going to fight the government for and when we when we first came to that campaign that that particular sum of money was 30 million a pound but we were quite clear that that such a campaign such a policy was not just a question of passing this in the council chamber that we needed a mass campaign to support this policy we needed to take this out to the working class to win not only the Labour Party to this policy but win the working class in Liverpool to this policy as a mass campaign and we also needed to win the support of the council workers on the city council now that we're in 1982 while we were discussing this and debating this and I've got to say as well as and make a crucial point because the body that was debating this was known as the district Labour Party it was a democratic body elected by by by wards by the Labour Party members throughout the city by the trade unions throughout the city and a number of other organisations but it was a democratic body and one of the things that the left did when they took control of that body is to say they decide on on the councillors and you should get a councillor become a council on the panel and what they did was said basically one of the crucial questions for a councillor was who decides the policy for the Labour council and the answer that those those those respective councillors had to give was the district Labour Party the rank and file decide the policies not the Labour group not the people who were the councillors decide the policies so that was crucial so that's where the debate took place and in fact that debate was won for the ideas of Marxism and it was won partly through force of arguments and partly through the the comrades winning those discussions but it was also won because in 1980 Labour did take control of Liverpool City Council and the under the policy of the left put the rates up by 50% so we saw that as a pay cut and the result of that is that Labour was absolutely defeated at the at the at the next election the liberals came in with a policy of cuts and so on so it was a self-defeating that particular policy was a self-defeating policy particularly within Liverpool so Labour was out of office in 1980 after it passed that rate increase and within Liverpool the community campaigns campaigning on on the issues was not just the question of the labour party that was campaigned but the many community two community campaigns in particular one around a school across the comprehensive school in north of Liverpool who occupied the the the the school students and the teachers there occupied the school to stop the liberals closing it because the liberals had a policy of closing schools and waiting class areas in order for to rationalise the education within the city and the other movement which is a movement that I was involved in because I was I was living in the flats there was a movement called the Natalie flat dwellers because because when we're talking about housing and and council dwellings which have come on to into what we we did in a minute that yes council council dwellings if you like were built during the 1960s and the 1970s and so on but a good number of them were actually flats were were were high rise flats and also were tenement flats and in and netherley we had these tenement flats where you could walk from one end of the estate to the other end of the estate and never never touch earth because you walked along these landings themselves and I lived in one of these flats you had to go in you had to go down these stairs as if you were going down into a cell to get down to your flat and so on and they were really gruesome especially when you were talking about raising children in those flats because either the children would have to play out on the landing or they play a good distance away from your front door so they were they were gruesome prison like block they looked like a kind of science fiction prison that you would get on one of these things probably aliens or whatever it is anyway so so the so the people there decided they were going to campaign against this and one of the one of the boost that they got was that the councillor who was elected and this one mentioned a few names was Derek Hatten was elected as a councillor in a netherley who comrades may have heard of and Derek supported this campaign of the flat dwellers and the flat dwellers had a key demand is that they wanted houses and I went on on some of the campaigns with them some of the lobbies of the council and he used to sing a song about wanting a house with a garden but they wanted their children to be brought up in decent conditions and what the what this meant was that when Liverpool City Council came into power that we built 5000 4800 houses and bungalows they didn't build flats they didn't build masonettes they didn't build any of these other tenement blocks they were houses and they were houses because those that was the demand of the working class within Liverpool and it shows that when we it's not just a question of resources it's not just a question of fighting of a council fighting for those resources it's a question of the democratic input of the working class and of the demands of working class people who are directly involved and whether the council listens to those particular those particular demands and when you look at the you know the council that was elected the legacy of that council which was a which was a council as I said following a revolutionary course of action of taken on the government of taking on the the power within society of fighting the power with it within Britain that yes it was a revolutionary council but by being revolutionary it came to some massive reforms for working class people 4800 houses and bungalows built of 7400 houses and flats improved during that time and of and literally something like 12 000 flats either added flats bungalows tenement blocks demolished to and and those working conditions actually improved and on the employment side the Liberals why it's a we used to have discussions as a council worker with with my colleagues but I had one colleague who was not involved in the Labour Party but absolutely supported a council and the way reason she supported a council was because the workers on the council under the Liberals were employed on 47 week contracts then finished up for five weeks and then taken on again for another 47 weeks because at that particular time the employment protection was 12 months so they never acquired employment protection and they could just be finished off things and there was a few hundred of those workers and when Labour was elected in 1983 Labour was elected into into into the council with this program that the Liberals were looking at a cuts budget of cutting around about a thousand jobs from Liverpool city council because of the Tory cuts cutting those thousand jobs in a city that had already had thousands of redundancies thousands upon thousands of redundancies from industry it's itself Labour came in the first thing they did when they came in this was to stop these temporary contracts to save the thousand jobs and then have a program of taking on a thousand more so through the program there's 2000 extra workers working in in in Liverpool city council and would have been if Labour had lost so that was a reform that that we won by by taking a revolutionary program but also the council house building program itself employed 10 around 10 000 workers building workers at its height that UCAT which was the trade union that covered construction workers reported in 1985 that they didn't have an unemployed joiner on the books because all they were all employed building council houses in Liverpool decent council houses you know i have to say so we then come to this this program has come in and in 1984 yes we had to get that we got the trade unions on side we built the mass campaign on the working house council estates where on the way in class council estates we had meetings of 200 and of 300 and in March 29 1984 because i looked at the chronology there was a there was a mass demonstration of 50 000 on the streets of Liverpool and the pictures that they are online to prove it that mass demonstration was really the high point you know the high point in 1984 of that and and through that council and i won't go into details how it got through there was a little bit of trickery we managed to get through well Labour re-elected in 1984 on that program with it with an increased majority and a program of fighting the Tories well in 1984 the Tories had another problem which they're discussing downstairs the minus strike and the fight of Liverpool city council was something that they didn't want to do so they saw that we were determined and they actually folded to the extent that they provided not 30 million but 20 million pounds extra money to Liverpool city council and we saw it as a partial victory and we saw it as a partial victory that we had to take back to the people of Liverpool and back to the back to the movement and that was a question 1984 in 1985 we then come the councils around the country when I was talking about rates was that that was our program I'm not putting the rates up if we could help it but I've taken on the government but around the country the left wing councils were raising the rates and these are councils led by people like David Blunkett in Sheffield, Ken Livingston who I believe is talking around the corner he's around the corner at seven o'clock and Margaret Hodge in Inslington that great stealing fighter for the movement and those councils were raising the rates and I've got the figures there by 38% they wanted to raise a 40% year on year raising rates in order to compensate for the Tories now the Tories of course said well hang on a minute here's a vote winner for us we'll cap those rates we'll stop them raising the rates so much these these these councils and we'll put this in so there was a campaign they decided then to have a campaign against rate cap and and we decided in Liverpool that we would join in this campaign and this would be a national campaign and I think that's important to say because a lot of people now in the movement say oh Liverpool was isolated it was like the charge of the library gate they went out and they had no idea what they were doing and they were isolated from the rest of the movement around the country it's absolutely not true we joined in a campaign against the rate cap and and the ironic thing about that is that the tactic that that campaign adopted was not our tactic was not the tactic of making a deficit budget the tactic was was to say we're not going to set a budget until it's settled we're going to have you know we're not setting a budget so we said okay we're not like we argued our case but we went along with that particular a tactic and the ironic thing is that when the councillors came to be sear charged they were not sear charged for setting a deficit budget they were not which which they eventually did they were not sear charged for our own tactics they were sear charged because of the tactics of David Blunkett, Margaret Hodge, Ken Livingston and the rest of them who unfortunately during the course of that campaign left the field of battle one by one they went down the first one to go down was Comrade Livingston and it was in the Greater London Council it was the first one to go down and the the honorable exception on the Greater London Council was John McDonnell who said no we should stick with Liverpool and also we should stick with the council Lambeth in London in fighting these particular cuts but if we go back to Liverpool that we that one of the one of the problems that we had was also obviously we came under attack from the from the leadership of the Labour Party who had this policy of what would they call the Dented Shield and basically a Dented Shield meant manage the cuts well as far as I can see the only way you get a shield dented is by actually engaging in a battle they didn't even want to engage in the battle so why it was called a Dented Shield campaign you know is beyond me so they said and of course you know Comrades can see the video of Neil Kinnick attacking Liverpool City Council and the total nonsense of talking about going around giving out redundancy notices none of which were enacted none of those redundancy notices were enacted but of doing that merely to attack the council and and all the rest of it and out of that they turned around to the Liverpool City Council said you've got to solve the situation in our way and they produced the report with the support of the lefts around the party who had previously been with us in the battle and then deserted us and saying in this report the stone rock frost report they basically said you've got to put the rates up by another 15% on top of the 9% and basically you've got to cut the cost your staffing costs and that meant as we calculated put the rates up as well make further cuts on the council but you've also got to get rid of a thousand council workers and this policy was supported by the leadership of all of the major trade unions with members on the council the general the gmb the transport in general which is now unite and and now go which is now part of unison those union leaders we have the spectacle of trade union leaders going into an employer saying make my members redundant and the employer saying no we're not going to make your members redundant this that was the the the level of the leadership of the trade union movements and of course we saw it no doubt they're discussing it downstairs about our trading movement let down the miners and and the trading movement that's similar to any battle during the 1980s of just waiting till there's a labour government and when Neil Kinnick made his attack on Liverpool some right wing a right wing MP came out and said Neil Kinnick's just won the next general election well in actual fact he lost the next two general elections and then retired to ignomy after that so it didn't win in the election in fact it divided the movement and it divided you know you know that particular thing so we didn't adopt the stone frost report we had the idea but but the fact that the trading in leaders were were were against the council had in effect upon the trade on the on the trading leaders within the council and those trade union leaders within the council started one by one trade unions the the lecturers union the teachers union nalgo which was the admin union started to desert the cause of the of the city council and because of that in 1985 faced with on our own if you like and isolated as we then were not by design but by betrayal I have to say then we decided that we had to retreat but the one we retreated we didn't retreat by making people unemployed we didn't retreat by stopping building council houses we retreated by borrowing money from the banks so so our idea is as you know was a marxist programme first and the thing that we regarded as a retreat as a defeat was Keynesian economics basically when you think about it we borrowed money from the banks and we regarded that as a defeat people some people now regard that as a policy we regarded that as a defeat but we maintained and the fact of the matter and the facts and the figures which I haven't got time to go into now show that in election after election that that in the last mayoral election in Liverpool Jo Anderson the current mayor of Liverpool and former paper sale former a former buyer of the militants off off yours truly gained about 50 000 votes as as mayor of Liverpool at the height of the struggle we were getting 90 000 votes in Liverpool 90 000 votes for the council and an increase in the votes for for the MPs in Liverpool Labour MPs who at that time stood with the council itself so there was a there was a great struggle there and those councillors who were involved in that struggle really needed to be commended the 49 councillors 47 who were sear charged because two councillors died during that struggle that those those councillors need to be commended and the interesting thing about those councillors is that yes the militant was very important on that council but we also had councillors on the right wing of the party and the reason the reason why they supported the policy was is because as Marxist we did things the right way we won the policies through the party we won the policies through the democratic structures of the party through the district labour party and we won that policy and we also on the council reminded people as a caucus if you like reminded people of reminded the councillors of that of that policy so we need to come down to as I'm just being tilted to sum up and obviously you know we could have an old day school on this and Lily knows I could go on for hours about this I could you know drone on for hours about Liverpool and you know my life in the 80s and so on and what happened but you know we have to draw this to a conclusion now I saw an interview with Derek Hatton who was a leader member of that campaign and he says what he said was well that was then and this is now that was then and you know those were policies that suit of the 1980s but they're not policy that suit today well we fundamentally disagree with that because the problems are the same if not waste now the problems that those companies that were at tash's session and the last about the conditions of the of the working class will know that the working that the working and the living conditions of working class people have got waste if anything since the 1980s that instead of going in the direction of getting better they're in the direction of getting worse so what we need to see and what we should demand is that labour councils do take a stand do follow the example of Liverpool unashamedly arm yourselves with the facts with the figures of what happened then arm yourself with those facts and figures and go to those go go into those labour parties and say both with the fact that the national campaign the national campaign 1985 was betrayed by the leadership of the movement then we would have seen thatcher put an end earlier we would have seen the council council services protected and we would have seen houses built through more houses built but we need to protect it now because the services that are being affected are the are the social care services is councils are talking about building affordable houses affordable to who you may ask affordable houses when they should be building council houses for the need of those communities we need these policies now more than ever we need these policies today the same as we needed them in the 1980s and if we can build this and proud record of our movement of our marxist movement that goes back through the 80s will be or the comrades who can put that forward throughout the labour party and the labour and trading movement thank you


Since the founding of our Corps in 1775, Navy chaplains have stood for the free exercise of religion for all in the naval service. This right guarded in the First Amendment is among the rights that we hold most dear as Americans. From our First Commission chaplain, William Balch, aboard the frigate Chesapeake in 1799, to Chaplain Colton Cooper aboard the USS Constitution, Chaplain David Adams aboard the Franklin in the War of 1812, chaplains have worked to meet the religious needs of our people and to help our people, both at sea and ashore, to develop the spiritual resilience to cope with the inevitable hardships of military life. We've walked with our people through the darkest valleys, even the valley of the shadow of death itself. Just like Thomas Kirkpatrick and Aloysia Schmidt aboard the Arizona and the Oklahoma and the waters of Pearl Harbor on that fateful day. In giving that last full measure of devotion and sacrificing their own lives, these chaplains demonstrated their profound commitment to the wounded and the dying. Chaplains like Vincent Cappadano and Stan Beach and many others ministered to the marines in the jungles of Vietnam. Chaplain Eli Takesian brought hope and comfort and encouragement to his marines during the Battle of Hue City. And this year marked the 30th anniversary of the bombing of the Marine barracks in Beirut. During this time, chaplains Danny Wheeler, George Pucciarelli and Arnie Reznikov exemplified the spirit of cooperation as together they cared for the marines and sailors in the aftermath of this devastating attack. As we gather to reflect on our rich heritage, this year marks another significant milestone for our corps, the 40th anniversary for women in military chaplaincy. As you know, the Navy was in fact the first in the Department of Defense to commission a female chaplain, Lieutenant Junior Grade Diana Pullman. The path forged by her and by other pioneering women has endured and we're better for it. As we celebrate our past, we also celebrate our present work. Our Navy chaplains and RPs continue to serve on a broad range of platforms for ministry. From the flight decks of carriers in the Pacific, to forward operating bases in Afghanistan, to the bridges of Coast Guard cutters protecting our waterways, you provide an invaluable ministry of presence to our people, helping them to be ever ready for the missions before them. As you know so well, we are still a nation at war. While the drawdown in Afghanistan continues, dangers and challenges persist. Our chaplains and RPs remain forward deployed around the world, supporting those in harm's way. Our pastoral calling remains vital to our people as they cope with the realities and the effects of multiple deployments and combat tours. As chaplains, we can never lose sight of our ability to offer that confidential space at sanctuary where our people can regain a sense of wholeness and hope. We must continue to guard and protect the sacred trust that's been placed in us. This last year has presented tremendous fiscal challenges and uncertainty for all of us. From significant budget cuts across the Department of Defense to the federal government shutdown and the furlough of our Navy and Marine Corps and Coast Guard civilians. With so much outside of our control, chaplains still embody the reassuring presence of God, a God who, in the words of the Psalmist, is a very present help in times of trouble. Where shall I go from your spirit? Where can I flee from your presence? If I take the wings of the morning and dwell in the uttermost parts of the sea, even there, your hand shall lead me, and your right hand shall hold me fast. For 238 years, we've answered the call to serve, and we've had the privilege to minister to our sailors, our Marines, our Coast Guardsmen, and their families. Each one of you brings your own unique gifts and talents, as we fulfill our calling to ministry and to service, relying on God's grace and leading. Whether active or reserve, regardless of the type of uniform we're wearing, we are truly one chaplain corps, unified by one mission, answering the call to serve. Kibben, Chaplain Guard, and I are honored to serve alongside of you. May God continue to bless you as you carry out the sacred duty of serving our people. Happy anniversary, chaplains!


Good day, fellow investors. Is the Chinese real estate market in a bubble? Because that's a narrative I've been hearing for already almost a decade. Bubble bubble bubble bubble bubble but nothing is popping there. There is no crash. There is nothing. The Chinese stock market is a real estate market is growing. Prices are slowly increasing. Whatever the government does buildings are being sold. People buy everything. So what's the narrative? Ghost cities, overexpansion, overbuilding, extreme prices and what's the reality? Sold, profits, dividends, cash flows. Let's balance those out and see what is the real thing and whether we should invest in such an environment. The topics for today we will give an overview of the Chinese real estate sector, discuss the sustainability of the Chinese real estate sector, discuss the many cheap price earnings ratio average is 5.7 investing opportunities in the sector, go through the main factors to look at before investing. With real estates it's easy. Location, location, location, demographics, unemployment, jobs, factories, opening, demand, supply and then you know what's going on and how will will continue. Let's start. It's important to note that the Chinese premier Li Kei Jiang said China aims to pursue stable and healthy development of the property market in 2018, protecting the interests of first-time buyers and upgraders while taming speculation. So don't expect speculation but let's see if the business is healthy. This is very important. Urban and rural population of China from 2006 to 2016. The urban population went from 582 million to 792 million so 210 million people went to live into the cities. The current urbanization level is at 59.4% and it is expected to reach 70% by 2030 or 1 billion which means that another 210 million people will go to live to the cities. Thus in the next 12 years another 210 million people, we have just seen the past 210 million people go to live to the cities so more people will go. So the trend is continuing for another decade and we must keep in mind that when it comes to construction in China, China is adding 350 million people that will live in cities. That's like building a complete United States of America from scratch in 20 years. That's the Chinese building environment and that's something we have to keep in mind. Therefore the tailwind is there, the demographics are there, the migration is there, developed countries have 90% of people living in urbanized areas 70 to 90% still much more growth for China. Even the small villages, rural areas will become perhaps cities and there will be buildings. So still a lot to go for China but let's look at the current situation in the market and the demand supply. Every time there is oversupply, every time there is speculation the Chinese government intervenes in the market to cool off price increases. Something the US government didn't do in 2005. So you see these cycles built up of inventory and they peak at some levels. They have peaked in 2015 when the upward cycle was left running a little bit more.  What's very important here is that Chinese real estate prices have declined in 2009, 2012 and 2014 and nothing happened to the economy.  Further when looking at inventory levels as the government intervened the inventory levels have been declining but in tier 1 inventory levels are very very low, tier 2 also declining, tier 3 and tier 4 are still a bit high but declining. So declining inventory ratios tell us that supply is really tight plus on top of it the government wants to tame speculation and it implemented the following regulations. So increased down payments to 30% for first buyers and up to and above 50% for second home purchases. Restricted second home purchases, limited shadow banking, funding, controlled land supply made remarks about the bubble and how the government will control the risks. Something other governments in the world never do. All the above let inventory levels to four year lows prices cooling off and less speculation but the demand is still there. Let's take a look at the risks. What most people are worried about is a contraction in the Chinese real estate market, more on demand and purchasing power. Not so much on price fluctuation but if people stop buying, if people stop, if construction companies stop constructing and the real estate market makes approximately when you include appliances services 20% of the Chinese GDP so it would be a big hit for China. However there are still 210 and then later another 200 million people coming into those cities and if China allows immigration to cater for the elderly population there will be another 50-100 million people coming to China in the future. So we'll see how that evolves over time but let's see about the risks. Household debt is still relatively low in China because the Chinese are big big savers. Long-term trend of prices is stable even if there is fluctuations from the speculations. The big issue with Chinese real estate is affordability. A look at the house price to income ratio would tell you it's really a crazy crazy market but even in India it's even crazier in Cambodia. However those are averages. The average price per square meter in Q3 2017 was RMB $46,000 or $6,000-$7,000 that's double the GDP per capita. However those are as I said averages. In some cities prices are RMB 10K while in others are much much higher. What's important to note is that the average income in China has also been increasing fast. It was at RMB 30K in 2008 and now it is at RMB 74K. That's a huge increase. Imagine that your salary doubles in 10 years. Another risk that investors perceive is the very low rental yields. Rental yields in China are from 1.45% to 3% which is below I don't know London or New York. Perhaps not the luxury things. Secondly a drop in Chinese real estate prices but more as I said already in demand would hit the economy as 20% is related to GDP. But that is the case in any other economy in the world. Perhaps maybe Russia. In Russia everything would be fine. In the other parts of the world any economy would be hit if the real market real estate market drops and there is less demand. So to conclude a lot of people still moving migrating into cities a lot of things to build infrastructure a lot of demand a lot of growth coming. China is transitioning to more service oriented economy which means that it will add on top of the infrastructure building economy manufacturing which is again a positive. There will be ups and downs but the long-term trend is very positive. So let's see whether there are options to invest in such an environment. The key factors to keep in mind are of course I repeat location location location the residential housing market is almost always driven by the local economy and therefore one must analyze the local wins in order to estimate the outcomes. China is big and extremely differentiated. Leverage smaller developers are particularly leveraged while larger developers are often leveraged in US dollars which is a risk if you build in China. Risk and rewards some are fairly priced at P ratios of three some are not. Let's see the Chinese real estate developer list. This is something I got from Koneko Research. Please check that out if you want to see more about the Chinese real estate market. The average price earnings ratio is just 5.7 and it should be even lower now as most stocks continue with their decline with stable revenues and growing profits. As you can see here this was from somewhere in September price earnings ratios I think there is one at 11, one at 16 and the rest is all below 10. There is also companies with high dividend yields 5.7% is the average price earnings ratio so a huge list here to analyze for those who are interested. Profitability gross profit margins between 20 and 40% so very very profitable price-to-book ratios between 0.6 so undervalued and a bit of those are also overvalued. Some are very leveraged up to 10 times ratio but some have very low leverage ratio and so it's again looking into each individual player. On top of the above cheapness stock prices have gone down despite real estate prices actually going up and these prices a lot of the companies are big companies in Hong Kong that are trading and those trade as the market trades so those stocks went down as people are selling Chinese stocks so it might be an opportunity to find some real undervalued cheap gems in a negative sentiment environment but you have to really check each stock there to see what is what understand the local markets local Chinese cities which is a lot of work but you can see how much work goes just into analyzing this sector so a lot more work goes into analyzing individual stocks but that's how we investors do it. There seems to be more available funding for property developers in China as domestic funds seek better returns due to the clampdown on shadow banking. So what's going on smaller developers are getting in trouble those who have USD denominating debt are also getting in trouble because the regulatory environment might prohibit dollar denominated debt like this they're contemplating it from what I have found the reading Bloomberg articles so that's a big big risk for those companies which might make it difficult to repay the debt and that's something also to watch again when analyzing all individual lenders or borrowers sorry. So another thing is in the long term everything is growing building there might be ups and downs those who can survive the ups and downs and are already cheap might be really nice dividend payers in the future however at some point this has to stop they cannot grow revenues 50 60 70 percent or 30 percent per year forever so that's something to keep in mind and discount in the price. For example country garden holdings forecast price revenue increase growth of 50 percent over this year okay they are doing some acquisition but still 50 percent is huge so what I'll be doing I'll be digging deep into I don't know I have three four target stocks that I want to check most are in Hong Kong there is even one in the New York traded on the New York Stock Exchange so I'll do a deep report on that to see whether it is a buy or not however it's highly leveraged with a 10% dividend or eight something so we'll see how that fits the risk reward portfolio. Thank you for watching looking forward to the comments and I'll see you in the next video tomorrow when we'll discuss Facebook and some new additional insights to add when you cover a stock on the earnings model see ya


Hello friends. Today we will see the next operations in relational algebra. So, learning outcome is at the end of this session students will be able to write relational algebra expressions using union, intersection, set difference and Cartesian product operations. They will be also able to write the relational algebra expressions for the given skill statement and vice versa. So, first we will start with union operation. So, consider R union S. So, we are taking the union operation of two database relations or temporal relations that are the result of other relational algebra expressions. So, before taking union operation we need to see that whether these two relations are compatible. Compatible means whether they are satisfying the conditions that the relation R and S must have same number of attributes and the second condition is that the domain of ith attribute of R must be same as domain of ith attribute of S. So, now consider one example. Now here there is courses taught relation with the attributes year, class ID, course ID and teacher ID. Find courses taught by ARD in 2015 and 2018. So, at this moment pause video and try to write down the sub queries for this query or skill statements if you know. So, teacher ID is ARD whereas years given are 2015 and 2018. So, for this particular query sub queries will be find courses taught by ARD in 2015, find courses taught by ARD in 2018 and then we can take the union. So, equivalent skill statements will be select course ID from courses taught where teacher ID is equal to ARD and year is equal to 2015. Same for the other selects course ID from courses taught where teacher ID is equal to ARD and year is equal to 2018. Now write down the relational algebra expressions we have already seen the select operation and project operation in relational algebra in previous lecture. So, project course ID which is nothing but select course ID condition is that teacher ID is equal to ARD and year is equal to 2015 and the relation is courses taught same for the other query. So, we have received now we have written two relational algebra expressions for this sub queries. We have to use this union operator for taking the union of the tuples from the first relational algebra expression and second relational algebra expression. Thus we can use union operation. So, result of the first statement first sub query will be this DC course in the second sub query it will be DC and CN and then we will take the union which will give you DC and CN. Duplicates are removed because the resultants are resultant relations are considered to be sets. Consider one more example now there is company X which is running at side two side site A and site B. At site A the schema is a transaction relation whereas at site B there is sales relation. So, we want to find the customers of company X. So, here we will be performing union operation. So, first we have to see that whether these two relations are compatible. So, number of attributes in these two are same also the domain of each attribute respect to attributes are also same. So, here we can perform the union operation. So, again what will be the sub queries for this select customers of company X, select customer name from transaction at site A and select CName from sales at site B. So, equivalent relational algebra expressions will be project customer name from transaction union project CName from sales. Now for example, if we want to use this particular resultant relation then we can also use rename operation before that see the result. So, duplicates are removed and thus we have got all customers of company X. Now we want to say send some greeting cards to all the customers ok. So, we want to use this particular further. So, we can rename it for the relation name cost whereas customer name is the attribute name at one site CName is attribute name at the other site. So, for using that particular relation we are renaming this attribute as name. So, result is the same but the attribute name will be here name and the relation name will be cost. So, here are some more examples now this person and employee are the compatible relation because the number of attributes are same and also the domain of respective attributes are also same. These two are non are not compatible relation because first name and f name domain are same. Last name and l name the domain are same but for address and salary the domains are different. So, though the number of attributes are same as domains are not same these are not compatible relation whereas in these two the number of attribute itself are different. So, these are also not compatible relation. Now sometimes we want the tuples which are common in both the relations. So, we will be performing set intersection operation. So, again for taking the intersection operation or performing the intersection operation these two relations should be compatible. So, consider the query find courses taught by ARD in both 2015 and 2018. So, we have already seen this subqueries and the respective SQL statements and relational algebra expression. So, whatever the set or the relation that we will receive with expression 1 and expression 2 we need to take the intersection of these two which will give you the common tuples or records in these two expressions. So, in that way we can perform set intersection operation. So, here result of the first query is DC, second is DC and CN. So, resulted operation will give you DC as the result. Next is set difference operation. So, sometimes we want the tuples which are present in one relation but not in the other relation in that we can perform set difference operation. So, also for this operation we need to have these two relations compatible. So, consider query find courses taught by ARD in 2018 but not in 2015. So, subqueries are the same find courses taught by ARD in 2018 find courses taught by ARD in 2015 and then take difference. Only here the order is important we want the courses in 2018 but not in 15. So, we have written the query for 18 first and then 15. Equivalent relations for these two queries and then we are going to use this difference operator or the subtraction operator. So, that all the records which are present in 2018 but not in 2015 will be selected. So, result of this query will be the courses taught in 2018 are DC and CN courses taught in 2015 is DC. So, the result will be only CN. Now, consider what we want to find courses taught by ARD in 2015 but not in 2018. So, try to write down the relational algebra expression and find out the result, whether the result is same as the previous query just check it that. So, we want to reverse this sequence. So, first courses taught in 2015 take the difference with the courses taught in 2018. Now, if you look at the result the courses taught in 15 is DC. Courses taught in 2018 is DC and CN. So, there are no courses which are taught in 15 but not in 18. So, result will be null. Now, the next operation is Cartesian product. Suppose we want to combine the information from two relations we can perform Cartesian product. So, consider two relations R and S. Now, what will be the number of attributes in that Cartesian product? So, if R has n 1 attributes and S has n 2 attributes then Cartesian product will have n 1 plus n 2 attributes. Regarding the number of tuples if R has m tuples and S has n tuples then the resultant product or the Cartesian product will have m into n tuples. Now, assume that or there is a condition that there is same name appears in the relation or the attributes name are same then we need to devise a naming schema. Now, consider this example here R has a 1 a 2 a 3 whereas S has a 1 and a 4. So, attribute name a 1 is common in these two relations. So, one method is that use relation as in prefix for every attribute. So, R dot a 1 R dot a 2 R dot a 3 S dot a 1 and S dot a 4 or the other option is that then attributes which are common for them we can use relation name as prefix and remaining attributes can be used as it is. So, here R dot a 1 a 2 a 3 and S dot a 1 a 4 in this way we can use attributes. Now, we will see what one example here. So, there are two relations courses dot and courses and the query is that find course ID and course name in 2016. Now, course ID and year are present in this courses dot, but the name is present in courses relation. So, we need to combine this courses dot and courses relations. So, we will be performing the Cartesian product of these two, but we want the year 2016. So, there will be selection that year is equal to 2016. So, first Cartesian product will be found and then we will be applying this selection criteria. Now, how we will get this result of Cartesian product? Now, here there are four records or tuples in the first relation and three tuples in the second. So, resultant relation will have 12 tuples. So, either you can take first tuple and combine with all the remaining tuples of the second relation or you can take the first tuple of the first relation, first tuple of the second, second of the first relation and second of the second relation any sequence can be followed while combining this information. So, here I have used first record of first relation and all the records of the other relation. So, we are getting here 12 tuples. Now, we want only year 16. So, we have filtered the records with the year 2016. Now, we are interested in course ID and course name. Now, if we look at the result here it is the course ID is AM1, course ID is AM1 of courses and the name is applied mathematics 1. In the second record here the courses dot course ID is AM1, but here it is DC and the name is data communication. So, which is the exact course name? So, wherever there is common attributes the value should be same. So, course ID is a common attribute. So, wherever there is value same that is going to be the correct record. So, here there are only two records. So, AM1 with AM1 and DC with DC. So, what we are done is that on this selection again one more selection is applied. So, courses dot dot course ID is equal to courses dot course ID. And now, we are interested only in course ID and C name. So, we have projected courses dot dot course ID and C name. So, here this is the result AM1 and DC. So, we have combined these two relations then we have applied our selection criteria because we are interested in year equal to 2016. Then we have applied the selection where the courses common attributes are same and then projected the required attributes. Thank you.


Now, the economic community of West African state, ECOWAS, and the network of national anti-corruption institution, NACIWA, have pledged to partner to end corruption and bad leadership in the sub-region. This proposal was convinced in the 5th Annual General Assembly meeting where a new executive committee was expected to emerge, the Economic and Financial Crimes Commission, AFCC, and the Independent Corruption Corrupt Practices and other related offences commission, which are joint hosts to show that Nigeria's commitment to the success of the original body in the war against corruption and related offences. I did indicate that West African states are fragile.  Now, as you know, corruption is a push factor for all of these elements within the sub-region, so which makes it much more imperative for us to work together, especially given the high mobility of illicit financial flows, light arms, drug trafficking, human trafficking, all of the factors that lead to weak states that we need to work together. A new single agency, either in country or out of country, can work on this alone. It has to do with international cooperation. We need to cooperate with one another. It's a borderless crime that we are looking at almost on daily basis, issues of money laundering across the shores of this country, and that is why NACIWA was formed in the first instance, and that is why we're here for the fifth annual general meeting to be able to deliberate and cooperate with one another to share intelligence, to share information, and that is the essence of the meeting today, and that is what we hope to achieve. People around the world, it's a global trend that nations or anti-corruption agencies most cooperate with one another, from UNCAC to a COAS protocol to African Union Convention on Corruption, all these documents have emphasized the need for international cooperation, and that is why we're here also today. The President of NACIWA commended the EFCC and ICPC for its dull goodness in the fight against graft in Nigeria. We are very grateful that we are here today to continue the work that we are asked to do, to deliberate on issues, to look into the challenges, to come out, go down deep down and come out the solutions that can continue to help the transparency framework and space in West Africa. Nigeria was also one of the driving forces for many, many years until we achieved success about three or four years ago in pushing through at the United Nations General Assembly the promotion of international cooperation to combat illicit financial flows and strengthen good practices on asset returns for the sustainable development. I must particularly commend His Excellency, General Muamadou Bwauri, retired GCFR, President of the Federal Republic of Nigeria, as well as his other peers and brotherhood of states and governments for their leadership, dependable support, and constructive guidance to the ECUAS Commission, which has enabled the ECUAS Commission to perform its mission and in particular advancing the promotion of democracy and good governance in the region. Allow me to also use this opportunity to commend the steps taken by various member justice governments towards making the culture of transparency, accountability, and integrity entrenched in the governance process in the region.


My trousers are way too tight to do that, yo. So this weekend, first off, we're in Atlanta, the return of math half a man.  We're going to be back at the Apache cafe on Saturday the 4th, Shasta Sunny and everybody else in the organisation of that.  The return of math, we're back at the Apache cafe, obviously. That's going to be so dope, man. We've got that. We've got the first ever street battle of two on two, whatever you want to call it.  We've got Nestle, Vosoul, all that good shit, man. That's our second ever event at Atlanta. Obviously on the Friday night as well, which is two days time, we have the free event, which is going to be at the Hangar, that's 7-12, it's over 18 as well, but it's completely free.  That's it, that's our next DFUSA event, that's the April 3rd and the 4th. Then going back to the UK, we're going to be traveling back on the Monday to 6th. That pay-per-view is going to be up on Tuesday the 7th, and we've been getting a lot of tweets about that and everybody wondering when they can cop the Philly event. I can let you all know now it's going to be a joint pay-per-view, so we're not going to release them. A two separate one is going to be a joint pay-per-view for a very reasonable price. It's going to be out on Tuesday the 7th of April. You're going to be able to get every Philly battle and every Atlanta battle all in one package for a really, really good price. Then when we're back from there and we've got all the pay-per-view stuff out of the way, the next event coming up is obviously checkpoint number two.  The main event of that, OSHA vs Luna C, obviously there's not too much more we can say about that battle really.  I spoke to OSHA, I spoke to Luna, they're both going to go crazy in the battle, and trust me, it's obviously my birthday party as well, so I told them both.  And we can announce also for that event, we're bringing it back to my personal favourite...  We're bringing it back to my and Dunkflop's personal favourite ever stage format, which is the pit format, but with the stage in the middle, like the most famous battle you're going to see in that in is Shorty Horror vs Arsenal, the Rebel, you know that battle, it's the most viewed Dunkflop battle. Anyone I've ever spoken to has said that's their favourite format, because you've got the gladiator feel to it, but then also you've got the raised bit in the middle, so wherever you're standing in the venue you're going to be able to hear.  So yeah, we're going to have mics placed all over the room and on the stage so the sound is going to be crystal clear wherever you are. Tickets for that is £30, they're not going to go up in advance, there's no early bird, late, karma, middle, whatever, they're £30 advanced tickets until exactly two weeks before the event, which is only about 10 days away now, so you really haven't got too much longer to buy tickets. When it gets to two weeks before the event, however many we've sold, whether we've sold one or 200,000 or whatever, we're taking the tickets offline and also there's obviously a pre-order for the pay-per-view, which will be out later on, but you will be able to soon pre-order the pay-per-view if you want or if not, you can wait until Monday the 27th and you can order that as well. But yeah, checkpoint is obviously O'Shea vs Lunacy, we have the new title match because Tony's given up the title even though you beat Yunnan. We have C Major vs Soul for the title match, Shuffle T vs 100 Bullets, Big J vs Marv 1, Yunnan vs Gemini, you've seen the flyer, £30 in advance though, these £100 VIP tickets really have been selling really well as well, like I can't give enough thanks to everybody who's been buying these VIP tickets off us, it's really, really helping us put together the next USA tour that we're doing later on in the year, which I'll tell you about in another vlog.  I have to apologize to all the fans and leads, because I know when we were at birthday 6.5, I announced on the mic that April Fool's was going to be in Leeds because we had every intention of it being in Leeds, but unfortunately, we had some issues with the venue that we intended to use, and it just isn't going to work out anymore for that date, because one, we couldn't even do it in April anyway, we wanted to do it in April, every place we wanted to book was actually booked up for April, so it's actually going to be made at 16th, but it's no longer going to be in Leeds because, like I said, we had some fuck ups, and it's going to take too long to sort those out, so it's much easier if we just relocate it back to London. So I do apologize to everyone in Leeds that was looking forward to April Fool's, because I was really looking forward to taking it to somewhere new for one year or whatever, but it's going to be back in London. I'm not sure the venue right now, but it will most likely be one of our normal East or South London venues, you know, the normal names. It's going to be very, very good, no confirmed matchups I can tell you about yet, because we haven't really done too much about it, because we've been focused on a checkpoint, but it's going to be in May, it's going to be called May Fool's, you see what we did there, some crazy bad bar Esquire play, May Fool's, because I said April was just, April's too crazy, I want to do a Pedro Mirror match, and I know a lot of people have suggested that, a lot of people want to see it. The two battles I would like to do at April Fool's is the Pedro Mirror match and Dots vs Tony D freestyle battle. So they're my two ideas, we've got loads of other room, but you know, so anyway, that's 16th of May in London, keep a look out for that. After that, the next event coming up is going to be beat fighter two, now if you remember beat fighter one, we had Natural Dots, Rayman, Young May, Scurms, Raptor, loads of other dope battles. That was beat fighter, that was last August, it's been a while since we've done one.  So I'm hoping to do it in Bristol, but it might not, but keep a look out for that. The main event of that one is going to be Dots vs Raptor, which we just confirmed, like yesterday or whatever, that's going to be a crazy, crazy main event. We're looking to do some grind battles, some hip hop ones, and put them all in one event, all on beat, all three round on beat battles.  So please come out for the whole weekend, like, great, yeah, you know, it's going to be a real good fun, man.  Coming up after that, we have the boat party that we're doing in collaboration with Fresh Island Festival and Shore Beach, it's called Shore Beach. We're doing the Monday of the festival, it's like a week long thing, we're going to be on the Monday. Now we have our own boat party that we're doing in collaboration with Trap 9.3, which is the dope night from London. Make sure you go to that if you've never been to it before. So shout out to all of the promoters that are involved in this boat party. We have Una La Vos Vos, Enigma, Ceaseline Vos Brucie, which is going to be an on-beat battle.  It's going to be lightly mad and it's out there in Croatia, man. So yeah, that's it. They're the three battles we've got for now. We've got, we've probably got to throw a couple others on as well as the year goes on, but they're the main events. So same thing, if you want to get your tickets to the Croatia boat party in the description to this video, there's going to be a link to the main video for that boat party, and then the ticket link is going to be in that. So just go to the description, click on the video, go on the ticket link and you'll be able to buy your tickets.  I'm going to let you know about, we have some festivals, we have massive events, we have a new compliments battle that we're now working on which is just going to like blow the roof off the scene when people find out about that. And coming up as well, to the end of the summer, we're going to have the Earl roast that we haven't got in any details to really tell you about that, but we'll talk about that in the future. At some point in the summer of 2015, there will be the Earl roast.  What's your preference? Are we going to have gays? Mainly gays. Mainly gays. Mainly gays because I feel more comfortable around gays, you know, more... So I'll get the invite then. Yeah, so we're going to have a mainly gay, mainly black, mainly overweight panel. Yeah, and mostly women. I want female black overweight women and me, which is obviously the kind of thing that I think about in bed most nights. And that's going to be the Earl roast. Well, I said, when we have dates, locations, this ain't going to be an event either.  We're going to toss together in the break of an event. It's going to be its own thing. So it's not going to be part of a don't flop event. It's going to be a don't flop, the Earl roast, and that is all the event's going to be. And you can buy your tickets to that thing. And yeah, once you know about that, we're back. But we're here in Philadelphia.  Thanks to everybody in Philly that came out to the event. It was really, really, really good. Thanks to everyone that's going to come to Atlanta. Hey, forgot something. It's such a hurry to leave the steps. I actually have got a crazy part of the vlog. Yo, so we're still in Philly. We're like five minutes from the rocky steps and we're about to go get a cap home. Forgot something quite important. It's a little bit of personal information for you there. You know, just throw it all in. Yo, so we're back at the skate park because obviously you don't feel at home for whatever reason. But yeah, to the point, the thing I forgot to say was about checkpoint. Quite important thing actually is a new announcement for checkpoint as well. Not only with the VIPs and the 30 pounds or whatever, anybody that buys a ticket for checkpoint, you get put into like a raffle or whatever you want to call it, to come to a secret and private training day's event on the Sunday. Now the Sunday is my actual birthday. The event's on the 25th. Sunday the 26th is my actual birthday.   So yeah, on the Sunday, it's going to be a private event. We're not going to publicly announce where the venue is. All I can say is it's going in central London. It's a venue we've never used before. It's an amazing location, amazing view. It's just going to be real, real dope, trust me. The only way you're going to be able to get entry to this event is if you come to checkpoint on the 25th. There's only 100 person capacity for this place. I can't stress that enough but we're not even going to give 100 tickets out because we've got to get the battlers and the staff in there and the guests as well. So we'll probably only end up giving out about 75 tickets to this event.  But it's going to be really, really good. So like I said, that's another incentive for you to get those checkpoint tickets. We've sold so many checkpoint tickets so far. The capacity of Ministry of Sound is 1,000 but we have no intention of selling that many because it will just be disgusting and sweaty in there if we have that many. So there is going to be a point, wherever day it is, if we sell too many, we're just going to stop and say that's enough.  Those of you who've just bought normal tickets, you'll be putting a raffle and then when we email you, if you chose, if you want a ticket, you can accept it. If you can't come on a Sunday, just let us know and we'll give it to someone else. So that's basically it. Shouts to the skaters in the background who are doing it, exactly as I told them to do it. Shouts to everybody who made the rocky steps, exactly how I wanted them to be for this blog.  Let's go.