1 Pessimism reigns about US economic ‘recovery’ (Andrew S
Ross in San Francisco Chronicle) Perhaps the most telling finding in the latest
survey of America's post-Great Recession mood is this: Seven in 10 believe the
US economy has changed permanently - for the worse. That comes from the John J.
Heldrich Center for Workforce Development at Rutgers University in a survey,
titled "Unhappy, worried and pessimistic." Indeed, it makes for
depressing - but not really surprising - reading.
Five years into the economic "recovery" the vast
majority don't believe the economy has gotten any better, despite reassurances
to the contrary. They believe their children are going to have it even harder -
and think there's nothing the federal government can do about it. Sorry to be a
drag on the eve of Labor Day weekend, but other reports this month tell much
the same story, in contrast to the roaring stock market and growth in
employment and gross domestic product.
The Economic Policy Institute finds that hourly wages in
real terms in the first half of 2014 were lower than in the same period last
year, "even for those with a bachelor's or advanced degree." A major
reason, says the institute: Economic growth is not being reflected in higher
wages. "Most striking to me is how there's this consensus among Americans
about this diminished economy," said Carl Van Horn, director of the
Heldrich Center and co-author of the center's report. "It's upset their
expectations about how working life and the American life should be."
2 UK retailers most optimistic in 12 years (Angela Monaghan
in The Guardian) Retailers are ending the summer on a high and are feeling more
confident than at any time in the last 12 years following a sales surge in
August. Optimism within the industry about business prospects for the coming
three months was the strongest since May 2002, the CBI said in its latest
snapshot of the retail sector.
Katja Hall, the business lobby group's deputy director
general, said: "The high streets have been bustling with shoppers this
summer and it is good to see firms so optimistic about their business prospects
for the next three months – higher than at any time since 2002. Retailers
looking forward to stronger growth in September are keeping their shelves well
stocked in anticipation."
Strong high-street sales were matched by an increase in
consumer confidence in August, with market research group GfK's monthly tracker
of the nation's mood taking it back into positive territory for only the second
time since March 2005. The index rose by three points to 1 from -2 in July,
matching June's level.
3 Attenborough’s gift to India (Rahul Singh in Khaleej
Times) Filmmaker and actor Sir Richard Attenborough, who died recently at the
age of 90, has received glowing accolades in the British media. However, India,
too, has good reason to remember and thank him. Though Mohandas Karamchand (“Mahatma”)
Gandhi was an international icon much before Attenborough came on the scene, it
was Attenborough’s epic film on the Mahatma, Gandhi, that brought Gandhi and
his philosophy alive to a new generation, worldwide. Gandhi was a huge,
incalculable gift to India, for which Indians should be eternally grateful to
Attenborough.
The film was an unlikely box-office hit. When Attenborough
was trying to raise funds for his venture, he couldn’t find any takers. He was
told by an American producer that there would be no audience for “a little
brown man with a sheet, carrying a beanstalk”. So, Attenborough had to mortgage
his house and sell some of his art collection to raise money. To its credit,
the Indian government also came to his assistance. India’s first Prime
Minister, Jawaharlal Nehru, a renaissance man who admired Attenborough, gave
his moral support.
Then, Nehru’s daughter, Indira Gandhi, pitched in with funds
from her administration, in the teeth of bitter opposition. “How can a
foreigner make a film on the Father of the Indian nation?” they asked
indignantly. But Attenborough was on a mission and was undeterred. Yet, nobody
expected him to recoup the $22 million it cost him to produce Gandhi. He proved
his critics wrong. He earned 20 times that amount.
For the main role, that of the Mahatma, Attenborough chose a
little-known actor, Ben Kingsley. It was an inspired choice. Kingsley gave the
performance of his life – he won an Oscar for it – bringing out the essence of
the man, including his quirks. What many people do not know is that Kingsley is
half-Indian and that his real name is Krishna Pandit Bhanji – a name that would
not have taken him anywhere on the stage or screen, hence the name-change.
Rohini Hattangadi, as Kasturba, Gandhi’s wife, was another
wonderful selection, with stage actor and advertising “guru” Alyque Padamsee,
and Roshan Seth being effective as Jinnah and Nehru, respectively. Bhanu
Athaiya was chosen by Attenborough to design the costumes for the Indian sets.
She did such a great job that she became the first Indian to win an Oscar in
that category. Jack Briley, also relatively unknown, did the screenplay for
which he got an Oscar as well.
Running seamlessly through the film is Gandhi’s uplifting
philosophy and his message of love and non-violence. But for me at least, it
has an additional value: It is great propaganda for India. I am sure a great
many non-Indians who saw the film came to India as tourists, just to see the
“land of Gandhi”. And to think that if some important Indians had had their way
– and Attenborough had not been so persevering – the film might never have been
made!
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