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Hard Brexiters include Boris Johnson who insist on this at any price. Soft Brexiters include Treasury Secretary Hammond, who want to minimize disruption to the economy. Liam Fox and Michael Gove just want to make it work, that is all. A list of ministers on either side is shown here as prime minister Theresa May faces a split in her Conservative party in June 2018.

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The Trump administration is taking aim at drug costs under Medicare inflated by deals pharmaceutical companies make with industry go-betweens.  These are the secret deals of pharmaceutical companies with pharmacy benefit managers who negotiate the price of drugs for insurers and employers.

Under the proposal pharmacy benefit managers lose the legal protections that let them take rebates from drug companies.

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Paul Krugman, Nobel prize winning economist points out an astonishing fact about the 2016 U.S. presidential election- U.S. television networks nightly news devoted only 32 minutes in 2016 to all policy issues combined. And these networks devoted 100 minutes to Clinton emails. He calls this "disgraceful."  For weeks at a time in September and October the main television networks lacked the integrity and courage to ask questions and persist on the major questions facing the country of the economy, correcting income distribution that has been skewed away from the middle and working class, infrastructure rebuilding, education and healthcare, and what the policy proposals of each candidate would do for the country. Krugman does not mention this but the media devoted hardly any time to the economic plan devised by Trump that respected economists and economic analysis showed would increase the deficit by $5.3 trillion, and lead to a short term temporary increase in growth followed by a sharp decline. The worst thing that could happen to middle and working class families struggling to recover from the blow to their finances from the last recession.  The cyber hacking of a U.S. presidential election by a foreign power never received the unanimous rejection that it deserved from the television networks, not just Fox News as Krugman points out, but by all the networks. The future landscape of the media needs assessment to bring in new ideas and new entrants to bring constructive improvements, and for older media organizations to rebuild after the loss of confidence among young people. Only about a quarter of young people in the U.S. have confidence in the large media organizations news coverage according to surveys done recently. There are other pressures coming from the tech world that make it imperative to do this. Many experts point to the destructive effect of social media in spreading rumors or information disguised as facts, which are spread instantly by Twitter and Facebook, without any obligation to check the facts. This is also dangerous with a public that is now divided between better educated and less educated along political lines, older more settled in their views people, and younger people quicker in looking for the facts and checking things out before believing them. ...

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Women have one of three positions in senior management in the federal government compared to one of six in corporate management. Women make up 41% of management positions at the Government Accountability Office, a federal agency that has women friendly policies including family friendy culture, daycare site at the Washington headquarters, flexible relocation policy, telework policies, and advancing women to positions even as they balance their professional and personal lives such as needs of children. It is not necessary to work 70-80 hours a week to advance to senior positions as in law firms. Susan Poling is a senior executive supervising 156 lawyers, and says in the beginning she was able to work part time to spend more time with her son and still have great things to do and be given higher responsibilities.

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The expiry of pandemic aid programs and the cost of living increases in housing and food, medicine, have increased poverty in the US and affected the middle class and lower working class struggling to make a living. This is an issue for Biden-Harris to tackle upfront.

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Spark some joy in your life and other tips for Mental Health. Tips include make new friends, get adequate rest, cope with anxiety and depressing moods, be able to quit some goals if not sustainable, let go of grudges, quit in a smarter way, and be kind to yourself.

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The total cost to rescue and overhaul Fannie Mae and Freddie Mac could be about $658 billion, according to estimates by Standard and Poor's. The cost so far is $134 billion. S&P estimates show that the government may have to inject an additional $280 billion into Fannie and Freddie because of the continuing housing crisis. Analysts estimate that it would cost an additional $400 billion to adequately capitalize any new entities that take the place of Fannie and Freddie.

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Richard Cohen, Washington Post reporter, on the "no fly zone" option in Syria and how it could have prevented the loss of 300,000 lives, prevented millions of refugees, and moving politics in Europe in a direction that reverses the gains made in the post war period towards a more tolerant society.

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One of the first questions by moderators in the Univision debate in Florida focussing on immigration issues related to the anti-immigrant sentiment fostered by Donald Trump. Trumps statements on Hispanics and Muslims came under withering criticism from Clinton and Sanders. Hillary Clinton stated in reference to the Trump campaign slogan "Make America Great Again" that you can't make America great by doing things that do not reflect America's values. She said she would continue to speak up against the anti-immigrant sentiment created by Trump's derogatory statements about immigrants.

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Breakdown of negotiations between Greece and EU finance ministers led by Dijisselbloem of the Netherlands on February 16, 2015. Dijisselbloem says the best way forward is for Greece to take a 6 month extension of the current program, because more time is needed to work out the details. Finance minister Varoufakis of Greece says Greece should not have to make cuts that are clearly recessionary. The bailout ends on Feb. 28. Without an agreement reached Greece loses access to 7.2 billion in funds from the EU, needed to make repayments due in March.

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An analysis by Credit Suiss analysts shows that borrowers who have their principal reduced are less likely to default. But mortgage companies have been reluctant to take down loan balances. One study shows that47% of loan modifications completed in November 2009 resulted in higher payments for borrowers, typically because unpaid interest and fees were added to the loan balance. It is critical to make loan payments significantly affordable, as many people have other loans such as credit car loans, home equity loans, car loans, and these obligations make even a lower payment unaffordable.

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This WSJ editorial says Greek voters have made a choice in the referendum, and Europe is better off letting Greece exit the eurozone. That the referendum also means Greeks made the choice, and were not pushed out of the eurozone. The editorial points out that Tsipras's claim was that the vote was for further negotiations with the EU, yet taxpayers in Germany and other parts of the EU do not see it this way. In the long run it is better for the euro that Greece leaves if it chooses, says the Journal.

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A trader at JP Morgan's CIO London office made massive bets by selling credit default swaps for the 121 companies on the "CDX IG-9 Index," essentially betting on the financial health of companies on the index. The result was paper losses for hedge funds on the other side of the bet and gains in January and February for Chase CIO's portfolio of assets of about $350 billion, funds depositors had given to Chase and were not loaned out. This gradually reversed turning into large losses for JP Morgan.

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Kevin Maurer looks back at 15 years of covering Afghanistan since 2004, and asks was it worth it.  The conflict has cost 145,000 lives for the U.S. period of the war alone. Not counting the war in which the Russians were involved in the decade before the U.S. involvement. In fact the Russian involvement in Afghanistan was costly enough to hasten the collapse of the Soviet Union and bring Gorbachev to power to unwind the war and make the changes that led to the collapse of the Berlin Wall.  2400 U.S. servicemen dead and 20,000 Americans wounded. The cost to the U.S. is $737 billion for this war, according to a report in 2018 from Brown University's Costs of War Project. Just as the Soviet Union showed the damage from this war the U.S. has seen the cost of this war and foreign entanglement in another war that started accidentally with international interventions in the Iran-Iraq region as a cost that was borne with consequences. This includes the neglect of infrastructure and the damage to the middle class prosperity built up in the 1950's and 1960's after the Second World War. The U.S. got into this war with 9/11 attacks on New York City. By 2010 what began as a war fought by a few Special Operations teams turned into a war with troop levels reaching 100,000. Presidents Bush and Obama both failed to end the war by winning it. In 2014 finally combat operations stopped and American troops mainly conducted anti-terrorism operations and trained Afghan forces. In recent years the war has gradually disappeared from the national discussion in the U.S. and is barely talked about. President Trump wants to end the war even if it means talking to the Taliban and negotiations directly with the Taliban are ongoing.  One result of this war is the aversion to costly international entanglements and the highly unpopular nature of the conflicts. There are serious costs of the conflict in terms of neglected domestic priorities including infrastructure, loss of U.S. technological edge in key industries, and the competition from China, an the investments in health, education, services that were not made, the increase in inequalities and the diminishing of the middle class. The global financial crisis of 2008, the result of faulty banking, added an economic dimension through the loss of middle class savings in the U.S., worsening the financial situation of the middle class in the U.S.    ...

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Senators Murphy and Cornyn have helped pass legislation on gun control and mental health, public safety, with the support of all Democrats and 15 Senators from Republicans including majority leader McConnell. This comes after shooting in their home states and the two shootings at an elementary school and a supermarket in Uvalde, Texas and Buffalo, New York. The bill passed the Senate 65 to 34 and crossed the 60 vote filibuster threshold which was a barrier in the past. Only two senators from the 15 Republicans are up for election this year, Romney faces an election in 2024, four are retiring and 8 senators of the 15 are up for reelection in 2026. This made a compromise possible separating those who wanted strict gun control from those who want no gun control from the compromise group to achieve a consensus that all could vote for.

 

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Officials of the federal government in New Delhi say Washington DC, Berlin, Ottawa, Canberra are national capitals like New Delhi with special needs unique to the capital city in each situation. These needs require the administration of the national capital to be under the federal government. This is so in each city for this reason. What are these needs? They are prioritizing the national interest, better coordination, comprehensive planning and decision making taking into account the diverse needs and interests of the people of the capital. It is for this reason that the federal government has set up an administrative authority for this purpose. As in other foreign capitals the federal government has a broader perspective on governance and policy making considering the needs of the entire country not just of an individual state or state which can be narrow and limited in scope. And it is for this reason that capitals around the world have made this their model for administering the national capital. ...

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Michaelson and Narli show that Erdogan remains popular even in earthquake hit areas in this report in The Guardian from Kahramanmaras, Turkey. A report in the NYT shows Erdogan at rallies in rural provinces and smaller cities across Turkey, citing poetry, invoking God, and staying on the campaign trail. Erdogan won two thirds of the vote in Sivas one of the founding places for the revolution under Mustafa Kemal that made Turkey an independent nation largely out of Anatolian province. The main base of Mustafa Kemal in 1923 the year of the founding of the Turkish nation with the Treaty of Lausanne was in Ankara. This was under the banner of the Republican party which is now in the opposition with the mayors of Ankara and Istanbul from this party. Both the opposition and Erdogan face a difficult time ahead whoever wins as inflation is at 40% and the cost of living crisis remains a difficult challenge for any government.

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Former Chinese foreign minister Wang Yi (2012 -2022) and its senior official makes these comments at the Munich Security Conference on US shooting down Chinese spy balloons. Yi says it was "absurd and hysterical." He says China is going to put out a paper on Ukraine that would underline the principles of territorial integrity and sovereignty. For China its crucial relations with Germany, trade with Europe are critical for its economy and growth. Germany's coalition government itself is divided on investment by China in the port of Hamburg, with the Greens not supporting that decision by chancellor Scholz. The issue for Biden is not simply the balloons. As The Guardian points out the US is pushing for China to withdraw or at least make conditional its support of Russia in its invasion of Ukraine that is a clear violation of the UN Charter that China says it supports. 

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David Enrich of the NYT looks at the collapse of Signature bank and SVB Bank and the role of lobbying that led to president Trump setting up new legislation raising size of banks facing Fed regulatory scrutiny from $50 billion to $250 billion. Signature Bank and the author of the regulatory law after the financial crisis of 2008 caused by faulty bank practices -who in one of the anomalies of Congress joined the bank's board for 7 years and resigned this week-  lobbied with SVB bank for less regulation and government oversight. President Biden has learned from the mistakes of this Obama period, as shown by Jim Tankersley in his reporting in the NYT. this week. And made clear from Biden's State of the Union address in 2023, his effort to focus on cutting the deficit by $3 trillion over 10 years by getting everyone to pay their fair share of taxes.

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Democrats lost 6 Congressional districts won by Biden in 2020. This is more than any other state in the US. Wolfson, a former deputy mayor of New York City says it may have cost the Democrats the House of Representatives in 2022. It all started with redrawing of districts by Democrats in the House that was thrown out by the courts, leading to it being done by someone appointed by the court, and redrawing that was unfavorable to the Democrats. Democrats also failed to grasp the effects of laws passed that change the way judge set bail for offenses which Republicans pointed to as creating a larger crime situation. A 30% rise in crime in New York City was made an issue by Republicans in the midterms, which Democrats failed to address. The Republican majority in the House is thin and there is a sense that New York state played apart in Democrats losing the House.

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The thinktank Onward says a relatively small shift rightward on cultural issues would deliver for the Labour party a 1997 type of landslide at the next election. Today's 12 point lead for Labour is fragile and could be watered down to 4 points and an uncertain result. It says that people who are conservative on social issues and still favor Labour on economic and climate policy are the ones Labour should go for. They make up 61% of all voters in Britain and 78% of voters who would switch. Keir Starmer has a way through.

On sees this in Starmer's enthusiasm for his visit to Westminster Abbey for the coronation of Charles as monarch of Britain. The positions he takes on many cultural issues have this in mind bringing Labor into the mainstream and making it a bold innovator for Britain, taking pride in the nation's scientific and maritime achievements from the Industrial Revolution.

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English parents struggling to feed their children even this preschool teacher in London, as Emma Bubola reports for the NYT from London, UK. It is atrocious says a church minister running a food bank in Derby, in central England, that working families are having to come to food banks. Prince Charles talked first about people at food banks in his Christmas message this year. One estimate is that a fifth of familes are from families with jobs but unable to keep up with the cost of living. Warm spaces are being set up in Methodist and other churches. One food bank worker says you see ambulance crew, teachers, and asks what does this say about the community, about the country? Ten years of Tory austerity policies have made things worse. On a recent night a nurse walks into a food bank in the east London neighborhood of Hackney. This isn't a normal Britain.

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Supporters of prime minister Netanyahu's judicial overhaul in Israel say there is an overreach by the Supreme Court and it has struck down laws passed in parliament. Opponents of the judicial overhaul say the changes would give the government control of a nine member committee that appoints Supreme Court judges. A simple majority of 61 would make it possible to override decisions of the Supreme Court. At the heart of this struggle is the vision of a secular and pluralist state from the time of its founding by Europeans opposed to a religious and nationalist Israel represented by Netanyahu.

The protests may have begun a new trend that in which parts of the religious right see that things have gone too far too fast for such changes. And the need for new ideas to get a better life for all Israelis without the constant elections and legal battles, the focus on cultural differences of the Netanyahu period.

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Homelessness has become a major problem in American cities. The situation has worsened during the pandemic. This mounting problem is a major issue in the mayoral election for Denver. WSJ shows pictures of the city's homeless areas. After 12 years Mayor Michael Hancock is termed out and there are 16 candidates vying to replace him. All are being pressed to find solutions to the problem. Rising housing costs and Denver's growth have increased homelessness. WSJ reports Denver's homeless population has grown 44% from 3376 in 2017 to 4794 in 2022.

In 2012 the city imposed a camping ban. Business owners say it has not been enforced. Homeless protection groups say sweeps have only moved the homeless elsewhere. The mayor's office says 15,000 people have found homes. With the pandemic there were health issues and economic issues that made it harder to tackle the problem.

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Shorter work hours can provide time for yoga classes, time with children, travel overseas, and other activities for a healthier and more satisfying life. This report in WSJ shows people in different professions from medicine to environmental engineering taking a different approach to life. After the pandemic there is a rethink of what is a better way to work and combine work with attention to healthier living. Healthier living provides the concentration power that enables doing a lot more work in fewer hours creating a new way of working with time for healthy activities outside work. WSJ shows how this works in the lives of 5 workers and their families. For many workers it is possible to earn close to what they made with longer hours by utilizing the time more effectively, with all the added benefit of healthier lives- this adds up over the years reducing many of the health problems that come from neglecting healthy activities during prime work years.