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Wall Street Journal Original article ›
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Pollution levels at the Ilva steel plant in southern Italy's Mezzogiorno region. The family of Vincenzo Vestita, a 35 year old worker at the plant, his father and uncle who also worked at the plant, and their struggle with the effects of pollution. Higher cancer rates are seen in the region surrounding the plant. The Monti government's efforts to provide state money to clean up the plant and keep it open, because it is a major supplier of steel for Italian industry.
Economist Original article ›
LyrArc Article Gist
Brazil, a country of income inequality, is becoming transformed by trade and growth and urbanization into a middle class country- defined as those with a job in the formal economy, access to credit and owership of a car or bike, with a monthly income over $600. According to the Fundacao Getulio Vargas, this part of the population has increased from 44% to 52%. And the PT or Workers Party is still popular, with President Da Silva high popularity.
New York Times Original article ›
LyrArc Article Gist
Car sales in Germany are up 40% from ayear ago. This is not about to happen in the USA. The cash for clunkers program in Germany is broad and less complicated.In Germany eligible cars have to 9 years old and the subsidy covered the purchase of any new car, regardless of size and fuel efficiency. In the US the program just signed by President Obama covers a narrow profile of customers. In the US customers who benefitare economically challenged and in the midst of adeep recession. Cars can't be over 25 years old, and can't have a combined highway and city fuel economy rating of more than 18 miles per gallon as calculated by EPA. To get the full $4500 credit customers must buy either a new truck or sport utility rated 5mpg higher than the clunker or scrapped vehicle, or a passenger car rated at least 10 mpg higher.And the credit is given instead of the trade in value, so if the trade in value is higher it doesn't help. The German government is giving away upto $4500 but it started out with 1.5 billion euros to get 600,000 clunkers off the road, but because of the popularity of the program has expanded it to 5 billion euros for 2 million cars and extended it to end of 2009. The US program only has $1 billion for 250,000 cars or one eight of what the Germans are doing for amuch larger car market. Because of the dire shape Detroit and much of the midwest is in, because of the slump in the auto industry, this may be a mistake and a missed opportunity to do what the Europeans are doing, and get an even bigger impact. The American car market and industry is taking a severe blow from the deep recession. Because of the depressed region the impact of a real clunkers for cash program that targets a broader profile, with bigger financing and designed to give a boost to the market, could make a real difference. At this point it is more of a program designed to help people turn in their gas guzzling trucks for passenger cars, and those driving a $200 car are not likely to be the kind of customer who goes out and buys a new car say dealers. See the link to Alan Blinder's stimulus proposal in July 29, 2008, that suggested a $20 billion program even before the current crisis. The present program has only $1 billion....
United States Department of State Original article ›
LyrArc Article Gist
Marco Rubio speaks for the US with profound convictions and long experience in the Florida legislature and the US Senate, and as akey member of the DJT administration. In his speech in Munich at the MSC he recalls his grandparents being from Piedmeont Sardinia in Italy and from Sevilla in Spain. He talks proudly of his Spanish and Italian heritage, of America founded by European settlers. For Europe this is a speech that shows America is profoundly part of Western Civilization that started in Europe. Here are some parts of the speech and Rubio's call for America and Europe to respond strongly to the mistakes in migration and deindustrialization that have hurt the people of Europe and America, with deeply felt negative consequences. "That infamous wall that had cleaved this nation into two came down, and with it an evil empire, and the East and West became one again.  But the euphoria of this triumph led us to a dangerous delusion:  that we had entered, quote, “the end of history;” that every nation would now be a liberal democracy; that the ties formed by trade and by commerce alone would now replace nationhood; that the rules-based global order – an overused term – would now replace the national interest; and that we would now live in a world without borders where everyone became a citizen of the world.  This was a foolish idea that ignored both human nature and it ignored the lessons of over 5,000 years of recorded human history.  And it has cost us dearly.  In this delusion, we embraced a dogmatic vision of free and unfettered trade, even as some nations protected their economies and subsidized their companies to systematically undercut ours – shuttering our plants, resulting in large parts of our societies being deindustrialized, shipping millions of working and middle-class jobs overseas, and handing control of our critical supply chains to both adversaries and rivals.  We increasingly outsourced our sovereignty to international institutions while many nations invested in massive welfare states at the cost of maintaining the ability to defend themselves.  This, even as other countries have invested in the most rapid military buildup in all of human history and have not hesitated to use hard power to pursue their own interests.  To appease a climate cult, we have imposed energy policies on ourselves that are impoverishing our people, even as our competitors exploit oil and coal and natural gas and anything else – not just to power their economies, but to use as leverage against our own.  And in a pursuit of a world without borders, we opened our doors to an unprecedented wave of mass migration that threatens the cohesion of our societies, the continuity of our culture, and the future of our people.  We made these mistakes together, and now, together, we owe it to our people to face those facts and to move forward, to rebuild.  Under President Trump, the United States of America will once again take on the task of renewal and restoration, driven by a vision of a future as proud, as sovereign, and as vital as our civilization’s past.  And while we are prepared, if necessary, to do this alone, it is our preference and it is our hope to do this together with you, our friends here in Europe.  For the United States and Europe, we belong together.  America was founded 250 years ago, but the roots began here on this continent long before.  The man who settled and built the nation of my birth arrived on our shores carrying the memories and the traditions and the Christian faith of their ancestors as a sacred inheritance, an unbreakable link between the old world and the new.  We are part of one civilization – Western civilization.  We are bound to one another by the deepest bonds that nations could share, forged by centuries of shared history, Christian faith, culture, heritage, language, ancestry, and the sacrifices our forefathers made together for the common civilization to which we have fallen heir. And so this is why we Americans may sometimes come off as a little direct and urgent in our counsel.  This is why President Trump demands seriousness and reciprocity from our friends here in Europe.  The reason why, my friends, is because we care deeply.  We care deeply about your future and ours.  And if at times we disagree, our disagreements come from our profound sense of concern about a Europe with which we are connected – not just economically, not just militarily.  We are connected spiritually and we are connected culturally.  We want Europe to be strong.  We believe that Europe must survive, because the two great wars of the last century serve for us as history’s constant reminder that ultimately, our destiny is and will always be intertwined with yours, because we know – (applause) – because we know that the fate of Europe will never be irrelevant to our own.  National security, which this conference is largely about, is not merely series of technical questions – how much we spend on defense or where, how we deploy it, these are important questions.  They are.  But they are not the fundamental one.  The fundamental question we must answer at the outset is what exactly are we defending, because armies do not fight for abstractions.  Armies fight for a people; armies fight for a nation.  Armies fight for a way of life.  And that is what we are defending: a great civilization that has every reason to be proud of its history, confident of its future, and aims to always be the master of its own economic and political destiny. It was here in Europe where the ideas that planted the seeds of liberty that changed the world were born.  It was here in Europe where the world – which gave the world the rule of law, the universities, and the scientific revolution.  It was this continent that produced the genius of Mozart and Beethoven, of Dante and Shakespeare, of Michelangelo and Da Vinci, of the Beatles and the Rolling Stones.  And this is the place where the vaulted ceilings of the Sistine Chapel and the towering spires of the great cathedral in Cologne, they testify not just to the greatness of our past or to a faith in God that inspired these marvels.  They foreshadow the wonders that await us in our future.  But only if we are unapologetic in our heritage and proud of this common inheritance can we together begin the work of envisioning and shaping our economic and our political future. Deindustrialization was not inevitable.  It was a conscious policy choice, a decades-long economic undertaking that stripped our nations of their wealth, of their productive capacity, and of their independence.  And the loss of our supply chain sovereignty was not a function of a prosperous and healthy system of global trade.  It was foolish.  It was a foolish but voluntary transformation of our economy that left us dependent on others for our needs and dangerously vulnerable to crisis. Mass migration is not, was not, isn’t some fringe concern of little consequence.  It was and continues to be a crisis which is transforming and destabilizing societies all across the West.  Together we can reindustrialize our economies and rebuild our capacity to defend our people.  But the work of this new alliance should not be focused just on military cooperation and reclaiming the industries of the past.  It should also be focused on, together, advancing our mutual interests and new frontiers, unshackling our ingenuity, our creativity, and the dynamic spirit to build a new Western century.  Commercial space travel and cutting-edge artificial intelligence; industrial automation and flex manufacturing; creating a Western supply chain for critical minerals not vulnerable to extortion from other powers; and a unified effort to compete for market share in the economies of the Global South.  Together we can not only take back control of our own industries and supply chains – we can prosper in the areas that will define the 21st century." ...
Wall Street Journal Original article ›
LyrArc Article Gist
Agatha Sangma, at 28, is the youngest member of Parliament in India. Se was reelected from the Tura constituency in Meghalaya,, in India's northeast. She is minister of state for rural development in the newly elected Congress coalition government. Her father PA Sangma was a speaker in the Lok Sabha, India's Parliament. In India's system the cabinet minister has the biggest chunk of work and under him comes the minister of state. But considering how big the rural economy is in India, at over 40% of GDP and growing fast from a low base, its aposition of great responsibility for ayoung woman. Here she talks to Jyoti Malhotra of the WSJ. She is responsible for drinking water and sanitation. Access to drinking water, contamination of water, and water supplies for agriculture are a huge challenge for India. Agatha has studied environmental management in the UK, so she can bring knowledge of modern methods for managing water to her job. She likes to be responsible for implementing work in the rural areas, and has the youth and energy to travel and see things first hand for implementation. She says accountability is important for implementation and out in the field she can observe and ask questions. One of the problems she shees in implementation is properly using the funds allocated. This fund alone is 62,000 crores. And seeing that these funds are properly allocated and spent to generate the best use of the resources is critical for improving lives and meeting the needs for rural development. She sees room for experimenting, for innovation and bringing fresh ideas to this job. She seems to handle the interview questions quite well....
Wall Street Journal Original article ›
LyrArc Article Gist
White drives a Chrysler 300 sedan diesel powered and made for European use, fast enough to go past speed limit but still gives an average of 28 miles in city and highway driving. The EPA rating for this car is 22 miles per gallon in its US V-6 model, so the Chrysler CRD 300 made for Europe has a 27% fuel efficiency advantage over its American counterpart. White borrowed it from a friend who was showing European diesel technology in the U.S. Cleaner diesel technology is spotlighted in this test drive. Also attention is drawn to fuel availability. This fall oil companies will be required to supply Americans at the gas pump with low sulfur diesel fuels on which the diesel cars with the clean diesel technology run, for cars like the Chrysler CRD 300. Automakers from Japan, Europe and the US are looking to transfer this technology developed for Europe to the US, with some improvements to meet American environmental standards, especially in lare sedans, SUV's and pickups. The statistics for US diesel use on the road are as follows: 1. About 3-4% of light vehicles in the US run on diesel. White quotes industry executives as comfortable with a JD Power estimate of diesel use by 2010-2012, or about 6-8 year horizon of 10% of all passenger vehicles. 2. John Moulton, president of the powertrain division of Robert Bosch Gmbh, forecast diesel use by 15% of the passenger vehicles in the U.S. by 2015. Use in Europe is about 50% by comparison. 3. Usage of diesel will be highest in the bigger cars and vehicles . This is where the 20-30% savings in fuel cost would be substantial enough to cover the $2000-$6000 additional cost for the diesel powered vehicles using the latest clean diesel technology. DaimlerChrysler is already moving forward with coming up with versions of the diesel models used in Europe for the American market. VW currently is the leader in the American market. About 20% of VW's sold in April 2006 use diesel. This is going up every year 12% in 2004, 14% in 2005. In 2008 VW will have all its mainstream models available in all 50 states in diesel versions. ...
Washington Post Original article ›
New York Times Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
In a Wall Street Journal/NBC poll taken December 11-14, the results show how fast things have changed in one year for the Obama administration. Today less than half of the people approve of the job Obama has done as President. And among core constituencies which helped Obama win the election he is losing support. A third of voters 34 and under feel negative toward the Democratic party. When asked about their sentiment Mike Ashmore, a23 year old from Lansdale, Pa., an independent who supported Obama what bothered him most was the lack of action on jobs. With Hispanics those who are positive about Democrats has dropped steeply from 60% to 38%. And Mr. obama's personal popularity has dropped, now only 50% feel positive about him down from 68% in January. Overal 35% feel positive about the Democratic party in Dec 2009, compared to 49% in February 2009. Something serious is happening here. Because this does not translate into gains fro the Republicans who are where they were earleir in the year. Only 28% of voters expressed positive feelings for the Republican which is what it has been all through the summer and fall of 2009. On Afghanistan only 44% feel its the right approach to do atroop buildup, 41% oppose. So the President support especially in his own party is not much here. If 28% of voters feel positive about Republicans, and only a litle more 34% feel positive about Democrats, then how will voters make achoice between candidiates in elections? Would they go by the merit of the candidate regardless of party. Something else that Americans are beginning to sense is that the country's prospects look grim with the economy, jobs, and the national debt and deficits, as well as a sense of lacking much needed renewal. ...
WSJ Original article ›
Wall Street Journal Original article ›
New York Times Original article ›
LyrArc Article Gist
Fuel efficiency for the entire US vehicle fleet increased by 1.4 miles per gallon to 22.4 miles per gallon for 2009, an increase of 7% over 2008. A shift from pickups to cars, and to smaller vehicles. Toyota at 25.4 mpg, Nissan at 23.6 mpg, GM at 20.6 mpg, Ford at 20.3 mpg, Daimler at 19.5, and Chrysler at 19.2 mpg.
Wall Street Journal Original article ›
Wall Street Journal Original article ›
Economist Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
The Bank of Japan set a 2% inflation target and committed to follow a "open-ended" moneary easing, with purchases of financial assets and a zero interest rate policy as long as necessary. This acion was taken after apolicy meeting on Jan 22, 2013.
Wall Street Journal Original article ›
Economist Original article ›
WSJ Original article ›
Economist Original article ›
LyrArc Article Gist
The crisis of late 2008 and early 2009 in the global economy saw huge stimulus programs, resposible economic management, and rapid recovery by the end of 2009 in developing countries. China put in place a large stimulus program, and in most developing countries, India, Vietnam, Brazil and other countries efforts were made to strengthen the safety net for the poor and to introduce stimulus for creating jobs. India and Indonesis saw the return of ruling party governments and in Brazil Lula da Silva had favorability ratings above 60%. So contrary to earlier fears in late 2008 their was both asense of political stability and asense of confidence in the developing countries. Capital is flowing into these countries and the IIF says that net private capital inflows to developing countries will double in 2010 to $672 billion. Russia which saw capital outflows of $50 billion in the first 9 months saw $20 billon of capital inflows in the fourth quarter of 2009. Half of the 140 million laborers working in Chinese cities returned home in early 2009, a fifth stayed there and another fifth counld not find work when they returned to the cities. But as the stimulus in China kicked in, and infrastructure development surged, (see link to the rail infrastructure spending) by the middle of 2009 jobless ness among rural migrant workers went down to less than 3%. This shows in the Pew Global Attitudes Project wth more than 40% of respondents in India, China and Indonesia saying that they were satisfied with their lives, in China this was 87%. In France, Japan and Britain the share is below 30%. In America 49% of those in the Pew pollingfelt that America should mind its own business internationally, 30 points higher than in 1964. When asked "Are you better off in free markets?" the respondents share fell in 2009 in Germany by 4 points, in Spain by 10 points. Shares rose in India and China, and stayed flat in Brazil and Turkey, so there is no backlash against free markets in developing countries....
Wall Street Journal Original article ›
LyrArc Article Gist
The Rousseff administration announces plans to cut $30 billion in 2011 spending. Inflation is up by about 6% in January. Most of the cuts says Finance Minister Mantega, will be achieved by cutting earmarks added to the budget, and by slowing hiring in the public sector. But analysts say this will not be sufficient to control inflationary pressures, as 2011 spending will still be above 2010. Higher inflation puts pressure on the central bank to raise interest rates at an high of 11.25%, which in turn brings in speculative money and creates a highly overvalued currency.
New York Times Original article ›
LyrArc Article Gist
The appointment of a idealistic reformer and civic campaigner against government corruption to the post of Finance Minister by Yukio Hatoyama shows the desire of Hatoyama to bring control over the country's bureaucratic structures.

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