Wco south park 17

Sieun

2021.06.05 21:23 Sieun

Park Si-eun (Korean: 박시은; born August 1, 2001) is a South Korean singer and actress. She won the award for Best Young Actress at the 2018 SBS Drama Awards for her role as young Woo Seo-ri in Still 17. She was an actor trainee in JYP Entertainment, but left the company in 2019. After signing with High Up Entertainment in December 2019, she debuted as a member of the girl group STAYC in November 2020.
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2013.09.02 20:25 bikesatx bikesatx - Biking in the SATX

All you need or want to know when it comes to biking in San Antonio.
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2009.12.01 03:00 Zhoul Corpus Christi, Texas

Topics of interest to and related to Corpus Christi, Texas USA and surrounding areas around the Coastal Bend.
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2023.03.22 10:02 Takagixu 230322 Miyawaki Sakura (with Guest: Actor Park Sung Woong) - Episode 17: Sakura x Park Sung Woong's thrilling indoor playground challenge @ FEARLESS KKURA

230322 Miyawaki Sakura (with Guest: Actor Park Sung Woong) - Episode 17: Sakura x Park Sung Woong's thrilling indoor playground challenge @ FEARLESS KKURA submitted by Takagixu to lesserafim [link] [comments]


2023.03.22 10:00 CronoDroid LE SSERAFIM Sakura (with Park Sung Woong) - Episode 17: Sakura x Park Sung Woong's thrilling indoor playground challenge @ FEARLESS KKURA (230322) [ENG SUB]

LE SSERAFIM Sakura (with Park Sung Woong) - Episode 17: Sakura x Park Sung Woong's thrilling indoor playground challenge @ FEARLESS KKURA (230322) [ENG SUB] submitted by CronoDroid to kpop [link] [comments]


2023.03.22 09:46 Astice_Pensante Butters from South Park is getting the hero edit on TikTok (03/22/2023)

Butters and Kyle from South Park sitting on steps outside of school.
Image: HBO Max

Butters is everywhere on TikTok
Continue reading…
Link to article
submitted by Astice_Pensante to GameGazette [link] [comments]


2023.03.22 09:36 bigdaddyxam I asked chat gpt to write a Southpark episode about the chess cheating incident and I thought it was pretty funny

I see. Here's another potential outline for a South Park episode, taking the internet rumors of a vibrating device in Hans Niemann's rectum as inspiration:
Title: "Cheaters Gonna Vibrate"
Synopsis: South Park is hosting a celebrity chess tournament, and everyone from Kanye West to Kim Kardashian is in town to compete. The tournament is being held online, and the celebrities are all playing from their luxurious homes.
Meanwhile, the South Park Elementary School chess club is preparing for a big tournament of their own. But when they start to hear rumors about a young prodigy named Hans Niemann, who's been accused of cheating in online tournaments, they start to worry.
The rumors say that Hans is using a vibrating device in his rectum to receive signals from a chess engine. The kids are grossed out and fascinated in equal measure, and they decide to investigate.
Using some high-tech spy gear, the South Park kids break into Hans's house and discover that the rumors are true - he's been using a vibrating butt plug to cheat at chess. The kids are disgusted, but also a little jealous of Hans's innovative cheating technique.
At the same time, the celebrity tournament is heating up, and the South Park kids start to suspect that some of the famous players are also cheating. They hatch a plan to expose the cheaters, using Hans's vibrating device as a way to detect any suspicious activity.
In the end, the tournament is thrown into chaos as the cheating celebrities are exposed one by one. The South Park kids emerge as the unlikely heroes, having saved the integrity of the game (and their own school's honor).
The episode ends with a cautionary message about the dangers of cheating, and a winking acknowledgement that sometimes, even the most outrageous rumors can have a kernel of truth.
submitted by bigdaddyxam to southpark [link] [comments]


2023.03.22 09:34 Colacolaman Seat Leon - Defective electronic parking brake. What is the repair cost likely to be? This is with a view to purchase the car.

Seat Leon - Defective electronic parking brake. What is the repair cost likely to be? This is with a view to purchase the car. submitted by Colacolaman to CarTalkUK [link] [comments]


2023.03.22 09:27 tathdsji Should I say it?

Should I say it?
Im gonna say it
submitted by tathdsji to Hasan_Piker [link] [comments]


2023.03.22 09:26 Cityofthevikingdead This house reminds me of the Canadians from South park. This house is Canadian.

This house reminds me of the Canadians from South park. This house is Canadian. submitted by Cityofthevikingdead to funny [link] [comments]


2023.03.22 09:16 space_spaceship I thought I wouldn't have enough special interests for this meme, then I ended up having to cram them in lol

I thought I wouldn't have enough special interests for this meme, then I ended up having to cram them in lol submitted by space_spaceship to autism [link] [comments]


2023.03.22 09:13 EeyoreManiac 'South Park: Bigger, Longer & Uncut' - One of the Best Musicals Ever!

'South Park: Bigger, Longer & Uncut' - One of the Best Musicals Ever! submitted by EeyoreManiac to u/EeyoreManiac [link] [comments]


2023.03.22 09:06 wazxy 慶豐帝怎麽還不還朝?君剛走,子民就沒活路了。盼習如盼甘雨。

慶豐帝怎麽還不還朝?君剛走,子民就沒活路了。盼習如盼甘雨。 submitted by wazxy to Youmo [link] [comments]


2023.03.22 09:06 mouthwordpasta Anyone else think when the MJ hologram was headed to South Park in #REHASH because he had “business to attend to” he was going to try and steal Ike’s body back? I think that would’ve been much more interesting of a follow up honestly

Anyone else think when the MJ hologram was headed to South Park in #REHASH because he had “business to attend to” he was going to try and steal Ike’s body back? I think that would’ve been much more interesting of a follow up honestly submitted by mouthwordpasta to southpark [link] [comments]


2023.03.22 09:05 CasualCoffeeEnjoyer This a decent list? Trying to cover a lot of games. I’ve barely touched any games and I wanna get into it. Anything major or “must-play” that I’m missing?

This a decent list? Trying to cover a lot of games. I’ve barely touched any games and I wanna get into it. Anything major or “must-play” that I’m missing? submitted by CasualCoffeeEnjoyer to pcgames [link] [comments]


2023.03.22 08:53 Itsvyroe1 How I pay 4$ an hr to exploit a PHD professional to tutor my son math. Here’s how I did it. LOL

How I pay 4$ an hr to exploit a PHD professional to tutor my son math. Here’s how I did it. LOL submitted by Itsvyroe1 to Upwork [link] [comments]


2023.03.22 08:49 onanisator Korea 3 weeks itinerary check

Hi everyone!
Me and my girlfriend are heading for 3 weeks to korea jn April for the first time. We want to do a round trip, but also have some longer stays at particular places so that we don't get the feeling that we are traveling all the time.
We are aiming for more balanced trip (City life, nature hiking and relax). We’re also thinking about renting a car, since the korean countryside is not very accessible by public transport. Is that a big improvement in this schedule or can we do without it?
Itinerary:
Day 1: Seoul no big activities planned due jet lag
Day 2: Seoul Gyeongbokgung Palace and Changgyeonggung palace, Bukchon Hanok Village and evening at Namdaemun Market. Cheonggyecheon rivier walk.
Day 3: Day trip to DMZ
Day 4: Seoul Jogyesa temple, Gwanghwamun Square, Myeongdong shopping. Leaving to Sokcho at night.
Day 5: Hike in seoraksan park, maybe staying at the mountain shelter (can we store our luggage somewhere in Sokcho?)
Day 6: Hike in Seoraksan Park during a day, Sokcho seafood feast at night, staying at Sokcho.
Day 7: Traveling to Gangneug (2 hours). Visiting Canola festival in Samcheok maybe Haesindang park if we have time. Staying at Samcheok or Gangneug.
Day 8: Quick visit to the Unification Park in Gangneug if there is time. Traveling to Andong (3 hours) and and staying there for a night.
Day 9: Hahoe Folk Village, back to Andong. Traveling to Gyeongju (3 hours)
Day 10: Gyeongju and Yangdong Folk Village. Staying at Gyeongju for one more night.
Day 11: Traveling Gyeongju - Busan
Day 12: Busan
Day 13: Traveling from Busan to Jeju (Ferry or plane?)
Day 14: Jeju
Day 15: Jeju
Day 16: Jeju
Day 17: Jeju
Day 18 Jeju (flight to Seoul)
Day 19: Seoul (day trip to Suwon?)
Day 20: Seoul
Day 21: Seoul
Day 22: Seoul
Day 23: Flight back to the Netherlands
submitted by onanisator to korea [link] [comments]


2023.03.22 08:45 apersonwhoeatscheese A villain "deserving" a redemption arc depends more on if they really want it or not rather than how awful their actions and behavior were

This is because of several factors such as the moral standards of the story, what kind of setting the characters live in, and who the target demographic of the work is. Like, obviously Dora the Explorer and South Park have far different moral standards despite both being cartoons since the former is aimed at kids and is trying to teach them to grow into good people, whereas the latter touches on more edgy and/or mature topics and recent events. So obviously, Swiper almost never gets away with his shenanigans otherwise kids would get the wrong ideas, whereas Eric Cartman's crimes are brushed aside cuz adults are already fully aware that Eric Cartman is a little shit.
But the most important factor in determining whether a villain deserves redemption or not is if they genuinely want it and are willing to work their asses off for it. Put put those cartoons aside, I'm gonna compare two more serious and grounded examples, being Azula from ATLA and Omni-Man (Nolan Grayson) from Invincible.
On paper, Azula crimes aren't as bad as Nolan's. Sure, she is cruel, controlling and unstable, and she's also capable of hurting the people she cares about. But she also hasn't been shown to commit mass murder on the scale that Nolan did, and Nolan arguably hurt Mark more than Azula hurt Zuko (not only bc Mark's beating was brutal, but also bc Nolan destroyed Mark and Debbie's trust unlike Zuko who's always known Azula to be manipulative and deceiving). The only person she kills onscreen is Aang, who is also involved in the war like her, whereas Nolan murdered thousands of civilians, with the train scene being one of his most heinous actions. Also, even though both of them were indoctrinated by fascists, Azula was a child, and children tend to lack the mental wiring needed to be fully aware of their actions.
But at the same time, it's Nolan who turns out to be more redeemable than her, but that isn't only because Invincible has different moral standards. It's also because he felt genuine remorse for the shit he's done and has done everything that's needed to make it up to his family and Earth in general. Of course he can't bring back all the people he's killed, but he's done a lot of good to make up for that by firmly fighting alongside his son and protecting the human race from Thragg and other villains who pose a threat to them. And Nolan isn't even unique in this aspect. Anissa, another Viltrumite, was a literal rapist but she also got redeemed and learned to make it up to Mark and care for the human race as well. Rape is more taboo than mass murder, but the comic clearly showed that she also felt remorse for raping Mark and that she went through a similar learning process as Nolan.
Also, I heard Vegeta's redemption was similar to Nolan's in that he was born a space Nazi that eventually grew to love humans and fight alongside the protagonist, but I've never watched a single Dragonball episode and I dont plan to simply bc I lack the patience.
Azula on the other hand, has not shown remorse for her actions as far as we know. Even though she is a kid, she isnt that little, so it's still kind of expected that she is capable of some level of introspection for the things she's done. She managed to conquer a whole city mostly on her own, so the "she's a child" explanation has certain limitations since she's clearly more intelligent than the average 14 year old. In the comics, Zuko, Iroh and the rest of the Gaang tried to help her change for the better by having her accompany Zuko in finding their mom, but she completely fucking blows it by trying to kill her and starting a cult that kidnaps children. She even blamed her current situation on her mom, and although it's true that her mother's neglect is one of the reasons why she turned out so deranged, she is still ultimately responsible for overcoming her own trauma.
I'm not gonna be an asshole and say "bUt zUkO wAs aLsO aBusEd bY tHeiR dAd aNd hE tUrnEd oUt gReaT afTEr beiNG sEpArAtEd fRoM hiM", because that's objectively wrong since her trauma is fundamentally different from Zuko's. Sure, Ozai is completely out of the picture now that he's rotting in jail, but I also don't expect her to change the same way Zuko did. Not every redemption has to be the same as his. But I think it's still clear to everyone that ATLA treats their young cast with moral agency. ATLA has consistently shown that remorse and hard work are very important parts of redemption. We saw that with Zuko especially, and also Iroh and Jet to a certain extent, albeit the former's was mostly offscreen since it occurred long before the show's events while the latter's was limited since he wasn't a main character.
Azula is gonna get a standalone comic later this year, and the post on AvatarNews on Instagram implies that the comic will be the start of her redemption arc. I hope they do it right by actually making her reevaluate her actions and how it affected many people. And I certainly hope they don't rush it by making her fully redeemed by the end of the comic. She has got a long way to go, especially since she has a lot of unresolved mental health issues. I'm tired of villains being redeemed just bc of angst factors or bc some media-illiterate fans want it to happen. I've had enough of those and I'd feel terrible if they destroyed another great character like Azula that way.

TLDR: Redemption is subjective, but what make a redemption arc feel deserved and well-written heavily relies on whether the villain in question feels remorse for their actions and is willing to put in the work to change and grow into a better person, or even a hero if the story permits. That is why Omni-Man got redeemed, whereas Azula didn't (yet).
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2023.03.22 08:38 ProfitPristine4573 Censorship in south park sitck of truth

I need help i want to buy south park sitck of truth on my PS3 suler slim but there is a catch cheapest version of the game is from germany and i Heard germany censored some content from orginal and there is a question will i have english or Polish subtitles if console is set to Poland? And will german version be also censored if my PS3 Has region set to Poland?
submitted by ProfitPristine4573 to PS3 [link] [comments]


2023.03.22 08:37 tpjv86b Colonial officials claimed 'Korean must naturally stop being spoken as a result of the spread of Japanese' 'no words in Korean can express the essence of the Japanese spirit in a straightforward way' 'Korean will one day be regarded as just another local dialect like the Kyushu dialect' (June 1943)

Colonial officials claimed 'Korean must naturally stop being spoken as a result of the spread of Japanese' 'no words in Korean can express the essence of the Japanese spirit in a straightforward way' 'Korean will one day be regarded as just another local dialect like the Kyushu dialect' (June 1943)
This is my translation and transcription of a news article from Keijo Nippo, a propaganda newspaper and mouthpiece of the government of Japan-colonized Korea. It has never been republished or translated before, to the best of my knowledge. Ever since someone dumped these old newspaper issues in the Internet Archive in October 2021, I have been slowly translating and posting select articles at various subreddits to share my findings with the wider community.
In June 1943, Keijo Nippo ran a long series of roundtable discussion articles, where colonial interior ministry officials gathered to have frank discussions about their dealings with Korean people. Here, I've translated parts 3 and 4, where the officials discuss their strategy for increasing the use of Japanese and decreasing the use of Korean. They stress the importance of training and recruiting ethnic Koreans, including women, to become Japanese language teachers in rural communities. They envy the success of Western missionaries in winning the hearts and minds of the Korean people. North Hamgyong Province is praised as the Korean province with the highest rate of adoption of the Japanese language.
There is some acknowledgment of the extreme complexity of the Japanese written language and the need to simplify it, especially when even many native Japanese speakers have trouble understanding obscure terminology and difficult Chinese characters. They make insinuations that most Koreans have 'low moral standards as human beings', and jokingly compare them to 'bad product samples' that are distributed by stores. They also seem to suggest that the Korean language is inadequate in expressing the 'deep spiritual content' of the 'essence of Japanese culture'.
One colonial official floats the idea of actively exterminating the Korean language, but that idea is shot down by his colleague who said that would backfire. They express their hope that Korean will naturally fade away into becoming just a local dialect like the Tohoku or Kyushu Japanese dialects as people become stigmatized for speaking only Korean, Japanese becomes spoken as a lingua franca between speakers of mutually unintelligible Korean dialects, and Japanese eventually becomes the dominant language of Korea.
The biographic information for individual colonial officials was readily available online, so I added links to their names and noted their birth years and death years in the translation.
Colonial Interior Ministry panelists in the roundtable discussion
(Translation)
Gyeongseong Ilbo (Keijo Nippo) June 17, 1943
A real look into the Korean Peninsula at war
Roundtable discussion with executives at the Interior Ministry of the Governor-General's Office (Part 3)
The focus of training should be the Japanese language
Find the right teachers for Japanese instruction
Mr. Yamana Mikio (1905-1982), Chief of the Documentation Division: Regarding Japanese language education, if housewives and mothers at home do not understand the Japanese language, things will not go so well, so there are places that are conducting the "One Word a Day Campaign" in which mothers are taught the Japanese language by elementary school students, and it seems to be quite effective. I have high hopes that the time will come when people who cannot speak Japanese will be looked down upon as country bumpkins.
Mr. Kōtaki Motoi (1894-?), Director of the Production Bureau: This kind of sentiment is becoming stronger in the rural areas. The government is planning and promoting Japanese language courses, but even in their absence, there is still a sincere desire to learn the Japanese language in the countryside.
◇...◇
In general, women's education is lagging behind very much in Korea. I don't know how it is now, but in the past, it was not possible to send women to elementary schools unless their family was above a certain stature. It is a great pity that such women do not know the Japanese language when they raise their children, so some of them voluntarily come to school to earnestly learn Japanese. That's why even people in the rural villages can generally understand everyday conversations in Japanese.
Mr. Shiota Seikō (1899-?), Director of Department of Rural Villages: In the end, I believe that the first and foremost issue is to obtain teachers for women's Japanese language education. Once you have such teachers, then you will be able to thoroughly implement the programs. The Governor-General was impressed when he went to see them, and I was also very impressed when I went to see them for myself.
◇...◇
There were two middle-class women, about 20 years old, who were at a farm in Hwanghae Province. Their training performance was very similar to the men at the training institutes, so to pursue further training, they left Hwanghae Province and went to Tokyo to go on a holy pilgrimage, and then they went to Kinkei Academy to undergo further training with male trainees. Since they were 19 and 20 years old, respectively, they were vehemently refused admission at first, since the academy did not want the two young women to be the only women in the otherwise all-male group. But the women insisted, saying "There is no law that says that we should be deprived of the opportunity to complete our training, when we have completed the requisite training and acquired the necessary qualifications. Isn't it the men who seduce the women? There is no law that says the men who seduce the women can go to mainland Japan to pursue further training, while the women who were seduced by the men cannot go to mainland Japan to pursue further training" (laughter).
◇...◇
Now, both of the women are working as teachers for the women in their settlement. When we go visit their settlement, the housewives greet us with smiles wherever we go. They greet us with, "Irasshaimase! (Welcome!)" in Japanese. That made us assume that they understood Japanese, so we went into their kitchen and asked them what they had for lunch that day. However, they could not answer. Another housewife rides her bicycle 2 to 3 miles to attend her training in the evenings. When you have such people as teachers, you know that things are thoroughly getting better.
Mr. Hyōdō Masaru (1897-1946), Director of Planning: I recently went around the countryside to observe how the special training programs were progressing. It has been only around 40 days since the special training started and conducted every two to three days, not everyday. Already, young boys who had never attended school could competently answer questions like, "Do you have a father?" and "How many siblings do you have?" At this rate, if they spend 600 hours a year in the program, they should be able to achieve a considerable amount of success. The Japanese language is now rapidly penetrating Korea through these special training programs for young people, and there will be 110,000 more people who can understand Japanese over the course of this one year.
Mr. Shiota Seikō (1899-?): When you go to the countryside and use a Korean interpreter to ask someone a question, assuming that they wouldn't understand Japanese, they may actually reply competently in Japanese. Even if they learn something at school, they may forget it when they return home, and that ultimately depends on their environment. Therefore, the government officials who are their leaders must try to convert their surroundings into a Japanese language environment as much as possible. If they are forced to use the Japanese language, they will start to remember what they learned. If we don't do this even in our agricultural teaching programs, I don't think it will be thorough enough.
Mr. Morita Masayoshi (1908-2004), member of the Interior Ministry: In the end, the core of the training programs in Korea boils down to Japanese language education, doesn't it? I think we can conclude that Japanese-Korean unification should also be based on Japanese language education. In order to truly realize Imperialization, they must thoroughly use the Japanese language regularly. If we don't go that far, I don't think we will be able to improve our achievements. In this respect, I have heard that British and American missionaries first learned the Korean language when they arrived in Korea, and then they lived among the Korean people to win their hearts, but I believe that we should take a completely opposite approach moving forward.
Mr. Shiota Seikō (1899-?): In order to improve our agricultural activities, we have to understand the feelings of the people we are dealing with. If we only know Japanese and they only know Korean, as has been the case up to now, there will be a wall separating the two sides and we will not be able to improve our performance. Only when our feelings freely flow to the other side can we truly share our hearts with the other side. That is why it is absolutely necessary to convert their surroundings into a Japanese language environment.
◇...◇
To help along with this process, the fact that we know the Korean language is the best thing. Although we have been too negligent to realize this, I believe that understanding the feelings of others is the key to thorough instruction in everything. I think that is how U.S. missionaries built churches that are so magnificent, people are amazed that they managed to build such magnificent churches in such remote places in the countryside. No wonder then that they conveyed their feelings and won the hearts of the people by first learning Korean and then living among the people in the countryside.
Mr. Morita Masayoshi (1908-2004): So that's how they did it? Since our goal is to thoroughly educate the people in the Japanese language, I don't see how we can't be thorough unless we adopt a method of exterminating the Korean language….
Mr. Kōtaki Motoi (1894-?): That would have the opposite effect. I think we have to go about it in a way so as to 'let the water soak in', so to speak. We should not exterminate one language in order to promote the Japanese language. The Korean language must naturally stop being spoken as a result of the spread of the Japanese language. (to be continued)
Source: https://www.archive.org/details/kjnp-1943-06-17
Gyeongseong Ilbo (Keijo Nippo) June 18, 1943
A real look into the Korean Peninsula at war
Roundtable discussion with executives at the Interior Ministry of the Governor-General's Office (Part 4)
Show us the Righteous Koreans! Their leaders must come to their senses
Mr. Yamana Mikio (1905-1982): I had an interesting conversation the other day about a Korean laborer who went to the South Pacific for military-related work. The natives thought that a Japanese man had arrived, so they spoke to him in Japanese, but the Korean laborer could not understand them, so the natives refused to take him seriously, saying, "You are not Japanese, so you are no good". So, the Korean laborer wrote a letter to his compatriots admonishing them that, if they go to the South Pacific as laborers, they should definitely learn the Japanese language. Otherwise, they would lose face because they wouldn't be seen as Japanese. In this way, the time has now arrived when it is necessary to learn and adopt the Japanese language. I believe that the time will soon come when the Korean language will be regarded as just another local dialect within the co-prosperity zone, like the Japanese dialects of Kyūshū and Tōhoku.
Mr. Kōtaki Motoi (1894-?): Even now, the language used in the North Hamgyong Province of Northern Korea is different from that of Southern Korea. It is said that it is difficult for Northern and Southern Koreans to express one's true feelings and communicate with each other speaking their respective Korean dialects. I heard from a Korean official who is now in North Hamgyong Province that, when people from Northern and Southern Korea come to Seoul and have a complicated conversation, they speak in the Japanese language.
Mr. Nakai Kazuo (1889-1991), a member of the Parliament and a member of the Interior Ministry: Even in mainland Japan, if you go to Kagoshima or places in the North and hear the local dialects, we would not be able to understand them.
Mr. Kōtaki Motoi (1894-?): This is the reason why the rate of Japanese language adoption is better in North Hamgyong Province than in any other province.
Mr. Shiota Seikō (1899-?): Statistics show that North Hamgyong Province is number one in terms of Japanese language adoption.
Mr. Yamana Mikio (1905-1982): Compared to other languages, the Korean language has only the bones of a language. There is no blood or flesh attached to the Korean language. Therefore, when Koreans talk in their language about the essence of Japanese culture, which has a deep spiritual content, they have to say things in a roundabout way to make their meaning understood. Korean people who have spiritually opened their eyes find it necessary to vigorously use the Japanese language. Life is connected to language, and where life is poor, language is also poor. Therefore, there are no words in the Korean language that can express the essence of the Japanese spirit in a straightforward way.
Mr. Nakai Kazuo (1889-1991): In this respect, there is still a problem in the teaching of the Japanese language, in that much reflection and effort are required on the part of the instructors. The Japanese language we use is not so difficult, but it becomes very difficult when we write it down. The foundation of our language is Chinese characters, but the way we use them is too difficult. First of all, laws and ordinances are difficult to understand. Then, military terminology is also extremely difficult. Furthermore, the terminology used in newspapers is extremely difficult. Keijo Nippo is the most influential Japanese-language newspaper in Korea, but how many people in Korea can read all the words written in Keijo Nippo? In this sense, even in mainland Japan, the attitude of the leadership toward the use of the Japanese language comes from a very elevated position. It is necessary to lower the level of the Japanese language to such an extent that those who have graduated from elementary school can generally understand it.
Therefore, it is necessary to pay special attention to restricting the use of Chinese characters, especially when considering that the power of our country is expanding widely and we have to stand and embrace the billions of people of East Asia. Nevertheless, I think it is extremely inappropriate to teach the Japanese language to our Korean compatriots and tell them to learn it quickly, but at the same time use difficult Japanese words that even most ordinary people in mainland Japan do not understand. We hope that Japanese language education for our Korean compatriots will become thorough as soon as possible, and at the same time, we hope that we will not use particularly difficult Japanese words with them.
Mr. Kōtaki Motoi (1894-?): We are keenly aware of this every day. This is true whether you listen to broadcasts, read newspapers, or read documents issued by government offices. For example, a document is sent to the provincial governor from the Governor-General's Office. That document is gradually sent down from the provincial office to the county (gun) office, and from the county office to the township (myeon) office, largely unchanged with only the date and the name of the addressee altered as the document is passed down. Therefore, there are times when the people at the township office cannot understand the document at all. I think it is necessary to change such things as gently as possible.
Mr. Nakai Kazuo (1889-1991): Earlier, the Director of the Production Bureau said that the people in mainland Japan do not know enough about the Korean peninsula and that they do not have enough understanding of the Korean people, and I agree with him. However, I would like to make a complaint to the Korean people at this time. No one likes people who have low moral standards as human beings. The most important thing is to be able to frankly admit that such people would be ostracized by anyone. Even among the mainland Japanese, good people are respected and bad people are ostracized. Even among our Korean compatriots, if you are a respectable person, you will always be respected by the mainland Japanese people.
In Kobe, I have walked around apologizing and making excuses for our Korean compatriots, but there are often times when there is no excuse, no matter how patronizing it may seem. I am told that there are 1.5 million Korean compatriots who have come to mainland Japan, but most of them are not very well educated. I have always regretted that this has led to misunderstandings among the people of mainland Japan. To use an analogy, it is standard business practice in Japan to show off good product samples, but the Korean peninsula keeps showing off bad product samples to mainland Japan (laughter).
In order for mainland Japanese people to make the Koreans bear the fruits of Japanese-Korean unification, it is necessary for the Korean people themselves to bear these fruits by becoming Imperial subjects and Righteous Koreans. That is the fastest way to achieve Japanese-Korean unification. We respect from the bottom of our hearts the fact that Governor-General Koiso emphasized the establishment of a Righteous Korea. Especially after the Greater East Asia War began, I believe that one of the most important ways to establish a Righteous Korea and to realize the Imperialization of the Korean people is to lead the Korean people so that they have a strong sense of responsibility and awareness that they, along with the people of mainland Japan, are the older brothers and leaders of the Manchurians, the Chinese, and people in the South Pacific region. What are the guidelines of the Governor-General's Office in this regard?
Mr. Kōtaki Motoi (1894-?): You are absolutely right. The Governor-General is also in agreement. Therefore, we are educating young people to be disciplined through school education and special training for young men, which came out with the introduction of the conscription system. Even in the Meiji era, there was not much moral education. However, the Imperial Army and Navy were educating their young men to that extent. (to be continued)
Source: https://www.archive.org/details/kjnp-1943-06-18
(Transcription)
京城日報 1943年6月17日
決戦半島の真姿
内務省委員総督府幹部対談会(3)
錬成の中心は国語
指導者にその人を得よ
山名酒喜男、文書課長:それから国語教育に就いては、家庭の主婦、母親が国語が解らなければうまく行かないというので、国民学校の生徒を通してお母さんに教えて行く『一日一語運動』ということをやっている所もあり、相当効果を上げているようである。やがて国語の話せない者は田舎者だといってさげすまれる時代が来ると期待しておるような次第である。
上瀧基、殖産局長:そういった心持が農村でも強くなって、国語の講習などは役所が計画し進めるということでなしに、地方に国語を覚えたいという切なる希望が出ているわけです。
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朝鮮は大体女の教育が非常に遅れている。今はどうなっているか知らないが、以前は婦女子を国民学校に入れるというのは相当程度以上の家庭でなければしなかった。だから大部分の農村婦人というものは全然無教育であって、そういう婦人が相当の年配になって子供を育てる場合に国語を知らないということは、まことに残念だというので、自ら講習会に来て熱心に覚えているという者もある。それで日常の要件は農村でも大体解るようになっている。
塩田正洪、農村局長:結局問題は、私は婦人の国語教育でも指導者を得るということが第一で、指導者その人を得れば徹底して行くと思う。総督も見に行って感心され、私も見に行って非常に感心した例がある。
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黄海道にある農場ですが、そこに中堅人物として二十歳位の婦人が居る。非常に男勝りで錬成を受けて、その錬成の仕上げをするというので、黄海道を出発して聖地参拝して東京に行き、それから金鶏学院に行って男と一緒に錬成を受けて来た。十九と二十の女ですから、こういう男ばかりの中に僅か二人の若い女が加わっては困るということで、しきりに拒否したが、それを遮二無二『私共を錬成をし、有資格者にして置きながらその仕上げをするというのに除かれるという法はない』という強腰で、一体女を誘惑するのは男じゃないか。誘惑する方の男が内地に行って、誘惑される方の女が内地にいけないという法はない(笑声)というわけだ。
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今、二人とも部落で婦人指導をしているが、その部落に私共が行ってみると、どこに行っても主婦達がにこにこして迎える。そうして『いらっしゃいませ』という。これは国語が解るのだなと思って炊事場に行って、『今日の昼飯は何を食ったか』と尋ねても、それは答えられない。もう一人の方は一夜錬成をやって二里三里ある道を自転車で通って来る。こういう人を得ると、徹底的によくなって来る。
兵頭儁、企画室長:この間地方を廻って特別錬成の状態を視て来たが、まだ始めてから僅か四十日前後、而も毎日ではなく、な二日置き、三日置きにやっているのであるが、全然学校に行ったことのない青年が『お父さんはあるか』『兄弟は何人か』などと質問すると立派に答える。この分なら一年間六百時間やれば相当のものになるのではないか。今朝鮮としては青年特別錬成を通じて急速に国語が侵透しつつあり、この一年間に十一万人の国語理解者が新たに出来るわけである。
塩田:田舎に行って、相手は国語は解るまいと思って、一つこういうことを朝鮮語で訊いてみてくれないかといって通訳させると、立派に国語で答えることがある。折角学校で覚えても家庭に帰ると忘れて了うということは結局環境である。だから指導者たる役人が環境をなるべく国語化するように心掛けなければいけない。強いて国語でやって行けば覚えて行く。私共の農業指導でもそうしないと徹底しないだろうと思う。
森田正義、内務省委員:結局朝鮮の錬成の中心は国語教育ということになるわけですな。私は内鮮一体ということも結局国語教育が根本だという結論になると思うが、本当に皇民化を実現するためには徹底的国語常用にある。そこまで行かなければ実績は上がらないのではないかと思う。それに関連して英米人の宣教師のやり方は、先ず来たら朝鮮語を覚えて半島人の中に入って民心を掴んで行くという行き方をとって来たということを聞いたのであるが、我々の今後のやり方はそれと逆に行かなければならんのではないかと思う。
塩田:私共の農事の改善にしても相手の情を掴まなければ駄目だ。今までのようにこっちは国語だけ、相手は朝鮮語だけしか知らないというような壁一重距てているようなことでは成績は上がらないと思う。こっちの心を本当に向うに反映させるためには、やはりこっちの感情が向うに流れてこそ初めて出来る。だからどうしても基調は国語化することにある。
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其の過程に於いて我々が朝鮮語を知っているということは一番いいことで、怠慢で我々は知らないが、相手の情を掴むということが総て何の指導にも徹底するのではないかと思う。だからアメリカあたりの宣教師が、よくもこんな所にまでこんな立派な教会を建てたものだと驚かれる程立派なのを田舎になど建てているが、ああいう田舎に住み込んで先ず朝鮮語を勉強する、そうして此方の情が移るようにして人心を掴んだものだろうと思う。
森田氏:そのやり方がですな。目標が国語教育を徹底さすということなんだから朝鮮語を抹殺して行くというような方法でやらなければ徹底しないのじゃないかと思うが...
上瀧氏:それは寧ろ逆効果を来すことになる。水の浸み込むように行かなければならんと思う。国語の普及を図るために一方を絶滅してかかるということはいけない。国語が普及して朝鮮語が自然に使われなくなるということになるのでなければならんと。(つづく)
京城日報 1943年6月18日
決戦半島の真姿
内務省委員総督府幹部対談会(4)
見せよ"道義半島人"、緊要、指導者たるの自覚
山名課長:この前面白い話があった。南方に軍関係の仕事に出て行った朝鮮人の労務者の話ですが、原住民が日本人が来たというので国語で話しかけたところ通じないものだから、『お前達は日本人じゃないから駄目だ』といって相手にしなかった(笑声)。だからこれから南方に行く労務者は絶対的に国語を習ってくれ。それでなければ日本人の対面が保てないということを向うに行ってる労務者から手紙でいって来たということである。そういう風に今日では既に国語に習熟し国語を身につけなければならん時になって来たわけで、間もなく朝鮮語は九州とか東北の訛りのように共栄圏内の一地方の方言と見られる時代が来ると思う。
上瀧局長:今でも北鮮の咸北あたりと南鮮とは言葉が違う。真情を吐露して意思の疎通を図ることが困難だそうだ。だから北鮮の人と南鮮の人が京城あたりに来て、こみ入った話をするような場合には国語で話をするということを、これは役人をしていた朝鮮の人で今咸鏡北道にいる人から聞いた。
中井一夫・内務省委員・衆議院議員:内地でも鹿児島とか北に行って地方の訛りで話をされたら我我には解らない。
上瀧局長:そういうことから咸北の国語普及率は他の道より良い。
塩田局長:統計を見ると一番である。
山名課長:朝鮮語は他の言葉に較べて言葉の骨だけしかない。言葉に血とか肉がついていない。したがって精神的に深い内容を持った日本文化の真髄を語るというような時に廻りくどく言わなければ意味の通じないところがある。精神的に眼の開いた人は勢い国語を使わざるを得なくなる。生活は言葉と結び付いたもので、生活の貧弱な所は言葉も貧弱で、したがって日本精神の真髄、精髄というような日本的性格を端的に現わす言葉が朝鮮語にはない。
中井氏:その点、国語を教育する上に指導者側に於いて大いに反省し努力しなければならぬ問題が残っておるんじゃないか。我々の使っている国語はそう難しいものだとは思わぬが、これを文章に書く時には非常に難しいものになる。我々の国語の骨を成すものはやっぱり漢字であるが、その漢字の遣い方が余りに難し過ぎる。第一、法令が先ず難しい。それから軍隊用語が極めて難しい。更に新聞用語が非常に難しい。京城日報は朝鮮に於ける最も有力な国語新聞であるが、京城日報に書かれておる言葉を内地人自ら完全に読めるという人が何人居るか。その意味に於いて大体内地に於いても指導者側の国語使用の態度は非常に高い所にある。これはどうしても引き下げて国民学校を卒業した者なら大体に於いて解るという程度にまでする必要がある。
したがって漢字制限の如きものも我が国の力が広く伸びて東亜十億の民衆を抱きかかえて立たなければならぬという時に、この点は特に注意する必要がある。それにも拘わらず、半島同胞に国語を教え、早く国語を覚えよと言いながら自ら使う言葉が一般の内地人でも解らぬような難しい言葉であることは極めて宜しくないと思う。半島同胞に対する国語教育の一日も速やかに徹底せんことを希望すると同時に、特に難しい言葉は使わないことを希望する。
上瀧局長:私共も日々そういうことを痛感している。放送を聞いても、新聞を読んでも、又役所から出す文書などにしてもその通り、例えば知事あたりに本府から書面を出す。それが道から郡、郡から面というようにだんだん下に行くわけであるが、出た通りの文章をただ日付を変えるとか宛名を書き直すだけでその儘で出す。だから面事務所あたりでは全然解っていないことがある。そういうことはなるべくやさしく改めるということが必要だと思う。
中井氏:さき程殖産局長から内地の人々が半島のことを充分知っていない、半島人に対する理解が足らないというお話があったが、私も同感である。ただそれに対してこの際半島同胞に苦言を呈したいことがある。というのは、人間として道義が低ければ誰だってそれを好く者はない。誰だって排斥するのは已む得ないことだということを率直に認められることが一番必要なことと考える。我々内地人同志でも、いい人間は尊敬され悪い人間は排斥される。半島同胞でも立派な人であれば必ず内地人にも尊敬される。
私は神戸に居て半島同胞のためにいろいろ謝りに歩いたり弁解に歩いたりするが、時には如何にひいき目に見ても弁解の仕様がないようなことがよくある。内地に来ている半島同胞は百五十万と言っておりますが、余り教養のない人が大部分である。それが内地人をして誤解を生ぜしめる結果になっておるのであって、私は常に残念に思っているわけである。見本というものはよい物を出すのが日本の普通の商売のやり方なのであるが、半島から内地に出す見本は常に悪いものをだしておる(笑声)。
内地人をして内鮮一体の実を上げさせるためには、半島人自らが所謂皇国臣民として、道義半島人としての実を上げることが内鮮一体の早道である。小磯総督が道義朝鮮の確立ということを強調されておることは私共衷心より敬重しておるところである。殊に大東亜戦争が始まってからは、半島同胞は内地人と共に、満州人や支那人或いは南洋方面の民衆の兄であり指導者であるという重大な責任と自覚を強く持たせるように半島同胞を導くことが道義朝鮮の確立、朝鮮同胞の皇民化を実現する重大な一つの指導方法ではないかと思うが、本府の指導方針はどうか。
上瀧局長:一々御尤もである。総督もその通り仰有っている。そこで学校教育、徴兵制度に伴って出て来たところの青年特別錬成、そういうものを通して躾けの教育をやっている。躾けの教育は明治時代でもあまりなかった。ところが陸海軍の教育はそこまでやっている。(つづく)
submitted by tpjv86b to korea [link] [comments]


2023.03.22 08:24 sudoooo 27 [M4F] Looking for that someone special anywhere (but preferably in Europe time zone)

I am a bit shy initially but once comfortable I’m the best buddy one can have
I love to be out in the nature, like hiking, biking, camping, fishing, kayaking etc
I’m planning a road trip with camping (place undecided) in the summer if someone wants to come along let me know
I like broad kind of music from Rock to Classical Operas to Jazz
I love comedy shows like South Park
On a lazy Sunday afternoon either I cook something delicious for me or visit the museums nearby
Currently I’m living/working in Norway
submitted by sudoooo to ForeverAloneDating [link] [comments]


2023.03.22 08:00 dspeyer EA Forum Digest 22 Mar 2023

Truth and Advantage: Response to a draft of "AI safety seems hard to measure"

"Aligned with who?" Results of surveying 1,000 US participants on AI values

In Reflection Mechanisms as an Alignment Target - Attitudes on “near-term” AI (2nd March 2023), elandgre, Beth Barnes and Marius Hobbhahn present results that I find both surprising and encouraging.

They survey 1,000 U.S. participants on their views on which values should be put into smarter-than-human AI (i) assistants, (ii) government advisors and (iii) robots. The results are as follows, going from most to least preferred instructions for such AIs:

Note that this survey:

The authors conclude:
[T]he current default way of choosing any AI systems values ... would lead to the least preferred setting.
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Design changes & the community section (Forum update March 2023)

We’re sharing the results of the Community-Frontpage test, and we’ve released a Forum redesign — I[1] discuss it below. I also outline some things we’re thinking about right now.
As always, we’re also interested in feedback on these changes. We’d be really grateful if you filled out this (very quick) survey on the redesign that might help give us a sense of what people are thinking. You can also comment on this post with your thoughts or reach out to [email protected].
A little over a month ago, we announced a test: we’d be trying out separating “Community” posts from other kinds by creating a “Community” section on the Frontpage of the Forum.
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Outcomes Looking forward What are the changes?

New 'South Park' episode on AI & Chat GPT

In case anyone's a fan of the US animated TV series 'South Park', a recent episode (Season 26, Episode 4, released March 9, 2023) is titled 'Deep Learning', and features AI & Chat GPT themes. (Link here if you want to watch with ads; otherwise it's on HBO Max or Comedy Central streaming services.)
Curious what your reactions are....

Free coaching sessions

I’m offering free one-on-one coaching sessions to autistic people in the EA community. I’m autistic myself and have provided direct support to autistic people for over 9 years.
My sessions focus on self-discovery, skill-development, and finding solutions to common challenges related to being autistic. It can also be nice to talk to someone else who just gets it.
Send me a message if you're interested in free coaching sessions, want to learn more, or just want to connect. You can also book a 30-minute introductory meeting with me here: https://calendly.com/monicadiazaf/30-minute-initial-consultation
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Unjournal Evals: "Advance Market Commitments: Insights from Theory and Experience"


... is largely a 'behind the scenes' of this process

All three evaluators generally spoke positively about the paper and gave it good evaluations. See metrics HERE.
[1]

Generally positive, appreciative, and fairly detailed. See interstitials above.

There seem to be some obvious next steps to take in robustness-checking the estimates. This would be suitable for an advanced student project or independent research project, which could also publicly build career capital.


As a semi-caveat to this, note that this was far from 'double-blind': all evaluators signed their work, and the paper came from prominent authors and was known to have been accepted by AER P&P, albeit not a peer-reviewed journal.
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The original paper: Advanced Market Commitments: Insights from Theory and Experience by Michael Kremer Jonathan D. Levin Christopher M. Snyder Evaluation 1: David Manheim Authors' response : Evaluation 2: Dan Tortorice Authors' response : Evaluation 3: Joel Tan Authors' response: Authors' responses

Contribute to our Research Project: Help to Identify EA-related reasoning in Survey Responses.

Hello everyone,
My name is Janek Kretschmer, and I am a PhD researcher at Maastricht University (https://www.maastrichtuniversity.nl/j.kretschmer). I am thrilled to announce an exciting opportunity to be a part of a EA related research project that could make a real impact in the world of charitable giving.
Along with my co-author, I am working on an experimental study that examines the impact of giving pledges on donors' generosity and preferences for effective charities. Our project is nearing completion, and the results are promising.
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Capping AGI profits

Beyond the many concerns around AI alignment, the development of artificial general intelligence (AGI) also raises concerns about the concentration of wealth and power in the hands of a few corporations. While I’m very glad to see people working on avoiding worst-case-scenarios, my impression is that there is relatively less attention being given to “grey area” scenarios, under which catastrophe is neither near-certain nor automatically avoided. These scenarios strike me as worlds in which policy and governance work may be relatively important.
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Introduction AGI wealth Capping profits more broadly

Future Matters #8: Bing Chat, AI labs on safety, and pausing Future Matters

Future Matters is a newsletter about longtermism and existential risk. Each month we collect and summarize relevant research and news from the community, and feature a conversation with a prominent researcher. You can also subscribe on Substack, listen on your favorite podcast platform and follow on Twitter. Future Matters is also available in Spanish.
This issue marks one year since we started Future Matters. We’re taking this opportunity to reflect on the project and decide where to take it from here. We’ll soon share our thoughts about the future of the newsletter in a separate post, and will invite input from readers. In the meantime, we will be pausing new issues of Future Matters. Thank you for your support and readership over the last year!
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A message to our readers Featured research All things Bing How the major AI labs are thinking about safety Summaries News Opportunities Audio ** **& ** video** Newsletters Conversation with Tom Davidson

Where I'm at with AI risk: convinced of danger but not (yet) of doom

[content: discussing AI doom. I'm sceptical about AI doom, but if dwelling on this is anxiety-inducing for you, consider skipping this post]
I’m a cause-agnostic (or more accurately ‘cause-confused’) EA with a non-technical background. A lot of my friends and writing clients are extremely worried about existential risks from AI. Many believe that humanity is more likely than not to go extinct due to AI within my lifetime.
I realised that I was confused about this, so I set myself the goal of understanding the case for AI doom, and my own scepticisms, better. I did this by (very limited!) reading, writing down my thoughts, and talking to friends and strangers (some of whom I recruited from the Bountied Rationality Facebook group - if any of you are reading, thanks again!) Tl;dr: I think there are good reasons to worry about extremely powerful AI, but I don’t yet understand why people think superintelligent AI is highly likely to end up killing everyone by default.
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Convincing (to me) arguments for why AI could be dangerous Humans could use AI to do bad things more effectively We don’t know how AIs work, and that’s worrying AI is likely to cause societal upheaval We could surrender too much control to AIs AIs of the future will be massively more intelligent and powerful than us I’m still not sure why superintelligent AI would be existentially dangerous by default Why wouldn’t AI learn constrained, complex, human-like goals? AI aims seem likely to conflict with dangerous instrumentally-convergent goals Some more fragmentary questions
submitted by dspeyer to eafdigest [link] [comments]


2023.03.22 07:59 winterspan Itinerary Check - Tokyo/Kyushu in May

Tentative itinerary for May 9-25th, right after Golden Week.
It’s a lot of moving, but I always plan more than I actually end up doing.
TOKYO (ASAKUSA - 6 nights)
May 9: Arrive afternoon. Staying in south Asakusa. Only goal is to figure out the trains and subway.
May 10: Roam Asakusa and Ueno.
May 11: See other parts of Tokyo. Find a boat ride.
May 12: Day trip Mount Takao or Nokogiri/Nihon-ji Temple area
May 13: Day trip Fukushima disaster area (guided tour)
May 14: Kanda Matsuri events in the morning. Mostly relax/downtime.
KAGOSHIMA (2 nights)
May 15: Flight to Kagoshima from Haneda. Ferry to Sakurajima if time/energy.
May 16: Sakurajima or scenic train to Ibusuki and back
KUMAMOTO (1 night)
May 17: Shinkansen to Kumamoto. Quiet Guesthouse to relax/downtime, nice dinner night.
FUKUOKA (4 nights)
May 18: Shinkansen to Fukuoka. Roam Hakata.
May 19: short ferry to Nokonoshima island to bike around.
May 20: day trip to Nagasaki, return after seeing the night lights. Stretch goal: gunkanjima if timing works
May 21: Morning trip to Nanzoin or possibly get out closer to country side somewhere (don’t know yet?). Relax/downtime night.
HIROSHIMA (2 nights)
May 22: Morning Shinkansen to Hiroshima. Peace park/museum.
May 23: Miyojima / Mt Misen
HANEDA (1 night)
May 24: long Shinkansen to final accommodation near Haneda airport.
May 25: Lazy day. Probably do nothing. Maybe see Yokohama China town. Flight out of Haneda at 9:30PM.
Thoughts? Thanks!
submitted by winterspan to u/winterspan [link] [comments]


2023.03.22 07:49 thespuzz ‘Valuations of Indian stock market are not expensive from a long-term perspective’

Doshi: It’s very interesting that whatever is happening globally is just reinforcing our thought process and our belief that India is on the right track. We could never have expected such sort of accidents in our system. While we always think that we have regulatory challenges in India, today, I think it is a very big blessing.
I think whatever is happening globally, is just start of a cycle where you will see the pain going on for many years. These are all warning signals for us. But India stands out very well.
Jain: The way monetary policy and banking regulation in India has worked over the last few years has been a typical first world style of functioning, which unfortunately did not happen in the first world. It’s quite an irony.
About a decade ago, perhaps post GFC, in India, we saw fairly volatile times, with weak balance sheets at an aggregate level with huge NPAs building up and current account crisis as well. Post that we’ve seen – both at the government and at corporate level – steps taken to strengthen the structural fabric of India. I think we are just seeing the benefits of that come through. It’s a good thing that we did not let the crisis go waste.
I believe that the next decade is ours for the taking.
Mukherjea: I think every 10 years, America blows up. I don’t think that’s the story of the moment.
You will remember 2023-24 as the year in which the world went to war without weapons. What’s happening between America and China is very serious. And it has huge implications for us as a country. Let’s take two developments.
ASML, a company headquartered in the Netherlands, is the only company to produce ‘extreme ultraviolet lithography’ technology to produce integrated circuits, which play a key role in the global chip supply chain.
The Dutch government, basis the pressure from US, stated a few months ago that there will be no exports of ASML machines to China. The western world, in a way, is saying we will send China back to the stone age as quickly as possible by making sure this semiconductor manufacturing comes to a halt.
The other dimension is in the Pharma industry. When we speak to the western pharma major companies, in which we invested in, all of them say there are clear orders from the powers that be in America to buy less API from China and buy more API from India. Fly to Baroda, Surat or Vapi in India, you will see a whole new industry coming up, which is ramping up API production.
Even if China’s 10% of API production moves to India, our API industry will be doubled.
Also Read : What are the rules that qualify any property as ancestral?
Indian stock market valuations
Doshi: It’s not that our premium has gone up. But it’s just that the valuations of the other countries have gone down. So, our valuations look a bit expensive. But India is charting a growth path of its own.
Could you have imagined that the inflation rate in India would be lower than many parts of the West. I couldn’t have dreamt of it 10 years ago. Further, in the last five years, we are enjoying a corporate tax rate of 25.17%, absolutely undisturbed. Now, isn’t that a very strong promise from our government, to provide consistency and stability?
Shah: Indian stock market valuations are undoubtedly not cheap on a one-year basis. But take a five-year view, and suddenly we are the cheapest among the emerging markets.
Today Maharashtra’s GDP is equal to what whole of India’s GDP was in 2005. The combined GDP of Uttar Pradesh and Uttarakhand is what India’s GDP was in 2001. And three states—Tamil Nadu, Gujarat and Karnataka—combined GDP is where India was in 2000. Can we assume that over the next 15-25 years, these states will produce what India is producing today, if all of us continue to work as hard? I think it is eminently achievable. Now, in which part of the world would you see states becoming as big as the country, with reasonable amount of assurance. People who buy into that story will not find India’s valuation expensive.
Jain: In the calendar year 2022, Nifty 50 gave about a 4%-5% return, which sounds unexciting, of course.
But you should analyse the performance of that 50-stock basket by removing the outliers. And you will find that the difference in returns between the best performing and the worst performing stock is 90%. The best performing stock gave you 50%, the worst performing stock was down 37%.
I think it’s important to be able to identify those companies and take advantage of stock selection in order to create alpha and not overly obsess about aggregate valuations, aggregate growth, etc.
Mukherjea: Do a simple analysis. You look at companies that have a double-digit revenue growth and double-digit ROCE (return on capital employed) in the last 10 years. India has 140 such companies and China has 130. Remember, China’s economy is 4-5 times larger than us and still has fewer companies with the growth I mentioned. And there is no other emerging market in that picture.
The Indian companies filtered would have compounded wealth at 24% over the last 20 years, while the Chinese companies would have compounded at 12%. This is the best that China has to offer .
The decade of manufacturing
Shah: The train which we missed in the 80s, where China became a manufacturer to the world and we became back office to the world, is likely to get reversed, in my opinion. It’s not a 1-3 year journey, it’s probably 10-30 year journey. For China, the manufacturing is about 40% of the GDP. India’s manufacturing should grow from below 25% of the GDP towards first 30%, then 35% and hopefully someday to 40%. That’s the story of manufacturing in India.
Be watchful of:
Mukherjea: We need to push up the ante on corporate governance. We have improved vastly from the days of Satyam and the DHFL debacle etc. But I think given the rate at which our country is going, also the rate at which domestic money is coming into big mutual fund houses, we owe it to the investor community both in India and abroad. To push up the ante on accounting, quality and corporate governance is imperative.
Shah: From the economic point of view, we can’t afford to make a self-goal. In 1947, we were at par with Japan in terms of per capita GDP. In the1960s, we were at par with South Korea. In the 80s, we were at par with China. Today, all these countries are way ahead of us. And that’s because they have done many good things. But we have scored self-goals. The best example of Indian self-goal is when Singur, a state in West Bengal, opposed Tata group’s automobile plant in an essentially backward area. They tried for five years, couldn’t do it and finally moved out. They went to Sanand in Gujarat, which is now growing at a healthy rate. If all of India is going to follow a Singur model, it is time to short India. If all of India is going to follow Sanand model, it’s time to go double long India.
Doshi: India runs one big risk of continuity of reforms. We have had extraordinary leadership at the country level, which need to carry on for another one or two terms, I believe. There are a lot of unfinished reforms in many fields such as agriculture, defence, divestment of PSUs. etc. These are some of these big-ticket items that will actually take India to the next level.
Jain: I like to think that we don’t have control over what is going to be the political climate in India over the medium term and also on how regulations will be shaped. But what we can control is identifying companies that will be able to traverse these differing political scenarios, macro-economic situations, and so on and emerge stronger. So, I would as an investor and as a fund manager, only urge that we need to put effort into identifying companies and winners that can go through variables that we can’t control or which we can’t predict.
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