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The biggest decision coming out of the NATO and European Council meetings is Germany saying it supports stationing of long range missile systems in Germany by the US by 2026. German chancellor Scholz says the decision was a long time in the making and Germany supports it as a necessary step to secure the country. This happens as China's support to Russia continues through trade and economic relations and the Ukraine war prolonged for another year into 2025. Other decisions were to provide F-16's and added Patriot missile systems so that Ukraine can defend its skies from missile attacks.

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The current number of American soldiers in Afghanistan of 32,000 in May 2014 will be reduced to about 9,800 after 2014, which would be cut to about 5000 in 2015, an leave only a small force of specially trained forces to protect the embassy and for additional security. Residual forces will include trainers and Special Operations forces to keep a check on Quaeda loyalists in remote parts of Afghanistan and in the mountains. The drones have accomplished much of the work done in earlier phases of the war by ground troops. The Afghan war has also been all about Pakistan. The completion of a full term in office of a democratically elected government for the first time, and the election of the Sharif government, including the participation of tribal and other Muslim extremists in elections, have been the hidden face of the war changing its face in other ways. The beginning of a focus on development in Pakistan and India, and the election of a new government in Aghanistan, the peace talks with the Taliban, are other parts of the shift to winding down America's presence coming from changes in the region itself- by changing the very nature of the conflict itself and isolating the most extremist elements....

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Locals trying to do what they can using sugarcane buoys and barriers to soak up some of the 1500 tons of oil still on the leaking oil tanker. A French ship from Reunion island is the only help on the way. Mitsui OSK Lines owns the ship in Japan. It has recovered only 1500 tons of oil so far. No one knows why oil tankers can come so close to inhabited islands.

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After test driving a Tesla Roadster in California in April 2010, Akio Toyoda, Toyota CEO, asked a senior executive Ihara to test-drive Tesla's Model S prototype car. This has led to a deal between the two companies, Tesla Motors and Toyota. Under this deal Tesla will use the NUMMI manufacturing facilities in Fremont, California, to build the Model S electric car. Model S is Tesla version of an electric car that would fit high end customer's budget for an electric car. The Model S price is starts at $50,000. Before this Tesla build 1000 Roadster electric cars which cost $100,000 each. Tesla was given $465 million by the US governmet to make a car that would be closer to what car buyers pay for premium cars. As part of this deal Toyota will buy $50 million of Tesla stock after its IPO. Toyota will cooperate with Tesla in the development of electric car parts and production systems and engineering. Separately Toyota plans to bring its own electric car to the market by 2012.

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President Biden signs the $379 billion Climate bill and tax legislation into law. Mr. Biden told a White House crowd to standing ovation "This is the biggest Climate Bill ever." At the signing event Mr. Biden tells Senator Manchin  "Joe, I never had a doubt." Senator Schumer quietly negotiated the final bill with Senator Manchin in one crucial week just recently to get it through a 50-50 split US Senate.

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The sinking of two oil tankers in the waters off Mexico led to Mexico joining the war against Japan in 1942. Mexican president Avila Camacho sent the 201st Fighter Squadron as part of the Mexican Expeditionary Force to train in the U.S. By 1945 this force was taking part in the war in the Philippines. Mexico is the only nation from Latin America after Brazil that fought on the Allied side in the war. Brazil sent forces to Italy. 

India made an amazing contribution of 2.5 million soldiers in the war effort as part of the British effort in the second world war.The largest contribution in the war effort came from Indian troops against Japan in the northeastern part of India with Indian Air Force pilots based in Imphal, Manipur. The Indian Army mostly from Indians with British officers played a key role in repelling a 80,000 large Japanese Army in the northeast and Assam. The Indian Army was also active throughout North Africa and in Italy. 

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Trofimov of the WSJ says the action by Saudi Arabia for execution of 47 persons most of them involved with Al Qaeda from tribes, including a Shiite cleric Nemer al-Nemer who led Arab Spring type protests in eastern Saudi Arabia, was meant as much to appeal to domestic conservative Sunni opinion as it was as a counter to Iran. The government of Saudi Arabia increased spending on social benefits after the Arab Spring in 2011, yet was forced to increase prices of some grades of gasoline by 50% at gas stations to conserve financial resources from its $640 billion sovereign wealth fund. The Saudis and the Russians are on opposite sides of the Syria-Iraq war, with the Saudis holding down oil prices as part of the geopolitics of the region, which led to the budget cuts in Saudi Arabia in 2015-2016. Conservative Sunni opinion in the country favors stronger action by the Saudi government against Russian and Iranian intervention in Syria and Iraq, according to Trofimov.

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Mira Kamdar provides this first hand account of life in Pantin, France, in March 2015, a banlie on the northeastern outskirts of Paris, postal code 93. She describes the exceptional effort of Mayor Kern to bring the community together for a brighter future, and the plans to better integrate Paris with the suburbs.

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This Editorial Board editorial in the WSJ should be titled Ukraine Corruption and Ukrainian people's interests in good governance. The reason is that beyond ensuring that the $187 billion sent by the US is used without corruption and this editorial cites evidence that this is the case through many oversight authorites US and EU has set up- there is the larger interest of the people of Ukraine battered and fatigued by 4 years of war. Corruption becomes an accepted practice in many democracies. Nations such as India that were mired in corrupt practices in state governments are seeing major changes in the last decade with public funds dedicated to infrastructure going to build the new infrastructure India needs to modernize its economy. It is proving that this is possible in Asia, as is shown in Taiwan, South Korea, Japan, China and now India. There is every reason to believe Ukraine can achieve this good governance with sufficient efforts and this is the goal set by the European Union, by Germany, Britain and France, for Ukraine. ...

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Harris was on the Oprah Winfrey Show yesterday where she reminded television viewers about the values America needs going forward, values that stretch back to the days of previous leaders FDR, TR and Lincoln, Washington and Jefferson who penned the words in the Declaration of Independence. "I think a lot boils down to values. I just read values on the line here. It does. I mean, think about it, Oprah. The idea that some would suggest and that my opponent suggests, which is that the measure of the strength of a leader based on who you beat down. Come on. The real measure of the strength of a leader. You don’t know who you lift up." Harris and members of the audience were visibly shaken as they heard the story of a girl Amber Thurman  who died in Georgia after seeking help following an abortion ban in Georgia. Harris said- "Amber’s story highlights the fact that, among everything that is wrong with these bans and what has happened in terms of the overturning of Roe v. Wade, it’s a health-care crisis. It’s a health-care crisis that affects the patient and the profession.” ...

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German chancellor Olaf Scholz is on his first trip to Africa. He called for serious attention to problems of food and energy supplies, energy prices, in African countries. He visited Niger, Senegal, and this interview with DW.com was done in Johannesburg, South Africa. Scholz called for European countries to assume responsibility for their colonial past and to increase food supplies to Africa. He said "it is obvious that a lot of countries are suffering from this war" with the grain shortages that are hitting Africa hard. In the intervew Scholz tells DW Political Editor Michaela Kufner that he has talked directly with Putin and told him that the war "will never have a good outcome" for Russia. "They will go back in their opportunities of economic development for decades, tey will suffer and they are suffering, and for getting out of this Putin has to stop the war." Scholz said Putin had made the decision to wage " a very brutal war" with "an imperialistic approach" and manner of thinking. ...

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Arthritis drug Humira from Abbvie is shown in this NYT report as having made $114 billion from Humira using the US patent system to delay the introduction of competing products that would have lowered prices for Americans suffering from arthritis. NYT says the114 billion was made just since 2016 when competing products were coming to market. In 2022 this is ending as nine competitors including Pfizer come up with their competing products. In many ways the system of market competition does not operate in the way textbooks or free market advocates say. It is considered ok to engineer advantage within what is a supposedly a market competition system and to turn a blind eye to it. Is it acceptable when it comes to health products and when prices increase from the exorbitant to the outrageous. The Inflation Reduction Act of president Biden included efforts to prevent just such abuses of a market competition system to restore fairness after years of egregious behaviours.

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Social Security payment are likely to increase by 3.3% in 2024 in line with about 3% inflation, after an increase of 8.7% in 2023. 46% of retirees paid taxes on a part of their benefits. About 40% of Americans depend on social security payments for half of their income, and 14% for 90% of their income. Average 401K balances are up to $223,000 for people 65 to 69 years, according to Fidelity Investments.

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Economic reform legislation in Israel that unwinds the large conglomerates in Israel, and limits concentration of wealth in a small number of business enterprises limiting competition.

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Renewed warnings about the bubble in housing prices in China. Earlier warnings came from Krugman, Lardy, John Taylor. This one comes from Nomura economists Zhiwei Zhang and Wendy Chen. Could the government's action to curb rising housing prices not be adequate leading to a financial crisis as early as 2014, is the question posed by Zhang and Chen. They cite the rise of housing prices by 84% from 2001 to 2006, before the financial crisis of 2008 in the U.S., using the Case-Shiller housing price index. One problem- the government statistics may have underestimated the extent of the bubble. China's official index shows housing prices rising 113% in major cities from 2004 to 2012. Zhang and Chen say this is much smaller than the actual rise because it includes older, lower quality housing property. They cite an academic paper that adjusts for this and finds prices jumping by 250% in the period 2004 to 2009. Another problem is that China's housing prices growth slows after government action but then resumes the growth, leaving the risk exposure at the high level as before. Because the local governments are tied up in the housing bubble the problem would hit the banking system. About 14.1% of the outstanding bank loans are to local government financing vehicles, and 6.2% to property developers, according to Nomura economists. The declining potential growth rate in China means there is less room for bad loans to be absorbed by hyper growth levels than in the past. Errors in policy can magnify the risk including loosening monetary policy and exacerbating the bubble at the wrong time. In the absence of errors the risks still remain requiring the sale of public assets to bail out local governments and banks. The argument made by Krugman and other economists has been that China is not immune to the risks of a housing bubble going bad, in any way less than Sweden, the U.S., Spain and other countries, requiring bailouts of banks....

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This BBC report looks at how doctors, nurses, police, railway employees, and sanitation workers in India are tackling the job of preventing the spread of coronavirus as India goes into a complete lockdown. The lockdown and quarantine are intended to slow the epidemic for enough time to enable bringing it under control.

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73 million boomer reach the age of 80 in the US in 2023. By 80 years the brain can have lost its vigor yet our bodies can reach 100 with modern medicine, making it necessary to understand and tackle aging truly well. This is the message from AARP in the recent issue of its publication. 

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Unemployment rate up from 8.1% to 8.5% , with 663,000 jobs lost in March, 2009, according to the Labor Department. The number of unemployed hits 13.2 million. Labor Dept data shows that between 423,000 to 9 million people were forced to work parttime for "economic reasons."

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India celebrates its 74th Republic Day with its achievements in upward mobility, respecting diversity, inclusiveness for women, and promotion of millets, drug free India goals, renewable energy, all on display. It also showed the achievements in saving funds for investment in essential infrastructure by developing its own defense capabilities in manufacturing. The Nari Shakti or women in the armed forces was also on display integrating women into leadership roles in the Navy, Air Force and the Army.