The Global Economic Growth Assessment [10/03/2010]


Guests:

  • Sheldon Ray, Jr., International Wealth Specialist, Morgan Stanley Smith Barney
  • Mr. Dennis Chestnut, Executive Director – Groundwork Anacostia River DC
  • Mr. Chris Askew, Deacon,Temple of Praise Employment Ministry for Greater Washington , DC

Segment 1

Sheldon Ray, Jr., International Wealth Specialist, Morgan Stanley Smith Barney
Sheldon Ray, Jr., International Wealth Specialist, Morgan Stanley Smith Barney
Segment 2

Mr. Dennis Chestnut, Executive Director - Groundwork Anacostia River DC
Mr. Dennis Chestnut, Executive Director – Groundwork Anacostia River DC
Segment 3

Mr. Chris Askew, Deacon,Temple of Praise Employment Ministry for Greater Washington , DC
Mr. Chris Askew, Deacon,Temple of Praise Employment Ministry for Greater Washington , DC
Segment 4

Sheldon Ray, Jr., Mr. Dennis Chestnut, and Mr. Chris Askew with Dr. Sam Hancock.
Sheldon Ray, Jr., Mr. Dennis Chestnut, and Mr. Chris Askew with Dr. Sam Hancock.

Program Summary:

The EmeraldPlanet weekly television programs are broadcast and distributed via Channel 10 TV in Fairfax, Virginia USA.  The programs are being simulcast to 2095 stations around the United States and then overseas by the Internet and C-SPAN television. The EmeraldPlanet programs are currently available in all countries and 214 territories around the world. The Emerald Trek and companion The Emerald Mini-Treks are identifying the 1,000 “best practices” on location from the 143 nations, 750 cities, and 50,000 communities by Internet TV, local television stations, main stream media outlets, YouTube, Facebook, The EmeraldPlanet Meetup, Twitter, among other social media networks, and all manner of print media.

The EmeraldPlanet TV is broadcasting weekly a number of the “best practices which are identified through collaboration with:  major non-governmental organizations (NGOs); United Nations, universities and colleges; research institutes; government ministries and agencies; Embassies; banking and micro-lending organizations; Chambers of Commerce; World Trade Centers, international bodies such as The World Bank, International Monetary Fund (IMF), Inter-American Development Bank, African Development Bank Group, Asian Development Bank, UNESCO (United Nations Educational, Scientific, and Cultural Organization), citizens groups; multimedia organizations; among others by utilizing the most advanced broadcasting hardware and software along with an outstanding television Production Crew to reach an ever expanding global audience.  The Emerald Trek is focused upon linking principals identified among the 1,000 ‘best practices’ in the 144 nations being visited through this world-wide movement. The Emerald Trek is encompassing over 300,000 miles, visiting 750 major cities, and 50,000 suburban and rural communities in the identified nations.

This program features:

  • Segment 1: Sheldon Ray, Jr., International Wealth Specialist, Morgan Stanley Smith Barney
  • Segment 2: Mr. Dennis Chestnut, Executive Director – Groundwork Anacostia River DC
  • Segment 3: Mr. Chris Askew, Deacon,Temple of Praise Employment Ministry for Greater Washington , DC
  • Segment 4: Sheldon Ray, Jr., Mr. Dennis Chestnut, and Mr. Chris Askew with Dr. Sam Hancock.

This program of The EmeraldPlanet is hosting three experts looking at the world economy from both the global as well as the “on the ground” perspectives of economic growth, jobs creation, and how the economy is impacting environmental protection and climate change issues and investments.  What are the correlations between the global economy and the day-to-day impacts upon citizens around the globe.

Although the “gloom and doom” predictions seem to rule the airwaves these days, our guests believe they will probably be wrong.  The United States and the World economy really is recovering, the global recession really did end last year, and the various will likely grow between 2.50% to over nine [9] percent depending upon the country over the next couple of years.  Corporations are flush with cash and these are refinancing debt at record low interest rates.  The S&P 500 in the United States just had its best ‘run’ since 1939.  What are the world’s stock markets and economic growth rates indicating?

Unemployment in some countries are troubling.  Yet high unemployment in the United States and elsewhere in the early 1980’s did not stop strong economic growth and rising markets across the globe. The American Federal Reserve and the White House both severely underestimated economic growth after the recession at that time.  Our first guest will explore these experiences and impact to determine if there is a similar replay.

The World’s economy may grow well over 4% this year and next.  Emerging economies will obviously lead the pack, but Europe is probably being underestimated, as the Euro’s recent 15% rally against the dollar indicates.

The “Greek Tragedy” of this past year was indeed a wake-up call for all European governments to get their fiscal houses in order.  Many political, banking, and business leaders in the European Union are taking the “bull by the horns” even in light of local economic pain.

Then there is  China.  It is estimated by the World Bank and the International Monetary Fund to be the second largest economy in the world.  Going back in time why did most of the fiscal experts in the world believed in the “tooth fairy” known then as the Japanese Economic Miracle of the 1980’s  but now are so skeptical of the very real Chinese economic miracle?  While China will continue to experience various growing pains, its economy is evaluated as being no bubble.  Of course home prices there have risen dramatically, but maybe not as much as personal incomes, which is more relevant.  The  Shanghai Stock Market is down 19% this year with an estimated price/earnings ratio of about 15.  A bubble?

With these global issues in mind The EmeraldPlanet guests will explore how such lofty issues affect the day-to-day lives of humans who live in local communities, are facing some of the toughest employment markets in recent history, and are being told that the next economic miracle will be the “new global green economy”. This program will be to take the insights and prediction of one of the World’s top economic forecasters and mesh with those charged with identifying, recruiting, educating, and making job placements for those most at risk working age youth and adults.  Stay tuned!

These internationally, nationally, and locally recognized leaders, in order of appearance, are…

Sheldon Ray, Jr., Senior Portfolio Manager and International Wealth Specialist for Morgan Stanley Smith Barney is considered one of the Top 5 analysis in the world concerning the global economy.  He will address some of the critical issues facing the American economy.  Such issues will deal with the 2.50 percent economic growth in the United States while expecting growth rates in emerging countries of between five and seven percent over the next five years.  Many of these economies are much more stable and sustainable than in the late 20th century. These countries now includes many on the African continent that have experienced high growth in the last 10 years and are expected to continue.

Unemployment in the United States is high while corporations overall are flush with cash. Many are reluctant to hire permanent workers. With solid programs highlighted by the other two guests that situation will gradually change.  The huge Federal stimulus spending per the governments official website that tracks the stimulus funding (www.recovery.gov) shows that less than one-half the funds have been received as of its last report. For example, California has over US$23B awarded but less than US$11B received. New York , Florida , and and  Texas  have only about a third of the funding awarded.  Since the money is already budgeted (no matter what taxpayers may think about the stimulus), but not yet funded, how does this impact the economy and more importantly ‘green’ jobs creation over the next 24, 36, and 60 months?  These complex issues of the world economy will be used to address the challenges facing ‘green’ jobs creation, climate change legislation, and environmental quality.

Dennis Chestnut is the founding Executive Director of Groundwork, Anacostia River, DC which as the mission to foster and awaken the potential of communities through tangible projects that involve local people and improve the community’s physical landscape on a long-term basis.  Restoring the health of the Anacostia River and the neighborhoods that surround it are central to Groundwork’s mission.

Groundwork,  Anacostia River , DC is working closely with the University of the District of Columbia , Cooperative Extension Division, Washington , D.C. Office of the Mayor, Restore the Earth Foundation, RPM Ecosystems, among other organizations.  This effort is to involve marginalized, un- and underemployed citizens in the District to plant trees in the United States Department of Energy Earth Day Park and in the  Anacostia River restoration efforts.

The organization is actively collaborating with a number of City of Washington, D.C. agencies along with the United States Departments of:   Energy; Environmental Protection Agency; Labor; and Agriculture to create innovative ‘green’ jobs employment identification, recruitment, training, and placement “best practices” projects that are models for the United States and abroad.

The Temple of Praise Employment Ministry of Greater Washington , DC lead by Deacon Christophy Askew has been in existence for almost a decade.  It has one of the largest private job fairs in Washington , D.C. impacting the lives of over 2,000 District citizens directly and thousands more indirectly on a seasonal basis yearly.  Its outreach, recruitment, training, and collaborative placement programs are ever expanding to address the high rates of under and unemployment in the Region.

The founding members of the Employment Ministry were appointed by   Bishop   Glen  A.   Staples , presiding prelate of The Temple of Praise.  The mission is providing job assistance services to the unemployed and underemployed members of the church, surrounding communities, and the entire Capital Region.  Services include resume’ preparation, interview techniques, seasonal job fairs, “Dressing for Success,” job counseling, identification of private and public sector jobs, a new emphasis upon ‘green’ jobs training, and many more services.


As you may know EmeraldPlanet is a worldwide non-profit organization dedicated to identifying at least 1,000 ‘best practices’ for sustainable environmental and economic development. Our efforts are to link those having such “best practices” with those needing the technologies, processes, services, and products to be outstanding ecological stewards of their resources. Please support The Emerald Planet Television and The Emerald Trek through your generous donations of US$25, US$50, or US$100. Click the donations button to make your contributions now

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