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Priorities from voting by 100 CEO's at the CEO Council the week of 17 November, 2008. Swiftly passing an internationally coordinated stimulus in excess of $300 billion was voted a priority of 7.1 on scale of 1 to 9 with nine the highest. Bolstering education for a competitive workforce came in second at an average of 6.9. Speedily stating a clear economic vision, appointing advisers, and sending a strong message about priorities and direction of economic policy, came in third with an average of 6.8. Making a comprehensive energy and environmental policy a top priority, creating incentives for consumers to become more energy efficient, came in fourth with a 6.6 average. A long term tax policy that encourages employment and job creation and enhancing global competitiveness came in fifth with an average of 6.0.

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French president Macron meets president Putin of Russia for a deescalation of tensions on NATO and Ukraine. Macron for the first time offers an approach that he calls the "Finlandization" of Ukraine. Finland maintained its independence as a neutral country in tensions between US and Russia.  President Biden says the US and Germany are united in their approach, and Nordstream 2 pipeline just completed to supply Germany with Russian gas will be shut down if Russia invades Ukraine. German chancellor Olaf Scholz says little during the crisis and is described as not "audible." Germany has fought two world wars with Russia and seeks a solution that recognizes Russian concerns about NATO yet one that is consistent with the alliance it has with America and concerns of its Polish and Baltic neighbors such as Finland, Sweden, and Lithuania. Meetings are planned for Olaf Scholz of Germany with president Putin of Russia in coming weeks, and with Ukraine in Kiev. ...

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China places a ban on imports of coal, iron ore, wine and other products from Australia. China's largest imports from Australia are in coal and iron ore of $87 billion. China has targeted Australian exports that can be alternatively sourced or are produced domestically such as coal. Australian coal exports to China declined by 90% in 2020 over the prior year. China is the largest destination for Australian wine exports of $1.2 billion. Australia's call for an investigation into the origins of the coronavirus pandemic and new laws to curb foreign interference have resulted in deteriorating relations with China.

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Brett Lee recalls the one time when he was bowling very fast at 165 kmph and Sachin hit the ball for three fours in an over leaving Lee spellbound. Here he recalls his amazing friendship with Sachin and how it meant so much to him. Invited for dinner by Sachin they got to know each other off the field. Brett says of the encounters on the field "we respected each other."  As the Aussies meet India in Adelaide for the first Test this brings back memories of Aussie cricket over the years going back to Richie Benaud and Neil Harvey, Norman O'Neill. 

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During the grueling days of cycling in the high altitude of the Alps region cyclists are mostly close almost shoulder to shoulder they can hear the breathing. Each cyclist senses the other and this is how they decide when to make a break for it and pedal harder. Sensing an opportunity to break away. Geraint Thomas does this in this stage of the Tour de France in the Alps mountains. Other riders are Julian Alaiphillipe of France, Quintana of Colombia who trains in the Andes, and Nibali of Italy. Five riders are within two minutes of each other in this high stakes game on the road.

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Is the jobless rate in Liverpool, in the one time industrial heartland of Britain about 6% or counting the hidden jobless close to 13%. Is the unemployment rate much higher than the 3% in official statistics for Britain because official statistics do not include the hidden jobless. Learn more about this astonishing quirk in the statistics that distorts reality about social conditions. None less than the OECD, the Organization of Economic Cooperation and Development and the Center for cities thinkt tank is of the view that 3 million people are missing from the official jobless figures. The OECD report says that when these 3 million people are counted the UK's unemployment or jobless rate is about 13.2% or abut 4.3 million people. This report shows that the austerity policies of the last ten years in Britain have bit by bit hurt people's chances of finding work.  The OECD/Centre for Cities study shows something else that is striking- it says Liverpool has the highest rate of hidden jobless in its study, with about 20% of working age adults out of work compared to an official rate of 5.8%. The mayor of the Liverpool region, Steve Rotheram, sitting in his office overlooking the Albert Dock on the banks of the Mersey river, where Britain's mighty shipbuilding industry once dominated and now in decay, says sanctioning people does not work,  a decade of cuts have done damage, and that his authority runs Households into Work, in an attempt to treat people as human beings first to get a better response. The government job centres tend to focus on people 25-35, says food bank and job support charity at the Anglican Cathedral on a ridge overlooking the Mersey. That means a lot of people in their forties and fifties are left out. ...

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Preserving forest areas is a key part of the climate change prevention plan. DW.com gives these video images of a vast forest area in South America- the Gran Chaco that is spread over Argentina and Brazil that faces destruction over time. Deforestation is taking place in the Argentine Chaco at an estimated 250,000 acres per year for 2001 to 2007 according to one estimate. The Gran Chaco that runs into the Brazilian state of Mato Grosso de Sul state is one of the last frontiers of forested areas in the world. If the Climate Change resolution passed at the recent conference on preserving forests is taken seriously this area needs to be preserved.

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NPR showed this report on December 2, 2022, which pertains to the debt ceiling vote. About a third of Republican pickups in the Congressional elections came from an unexpected place New York state. These moderates 4 from Long Island alone, come from districts where Democrats are a majority and they risk being defeated if they are not careful to let extreme Republicans get their way in a way that offends New York's voters. This has relevance today because 213 Democrats in the House have signed a petition to force a vote in the House. Five moderate Republicans are all it would take to get the 218 votes to pass lifting the debt ceiling.

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India is a frugal innovator producing satellites for space at a fraction of the cost. NASA sent Maven, a probe to Mars for $671 million, it cost India $74 million to send an orbiter to Mars. Yet India as one of the few space exploring nations has only 3% of the market. Invest India, India's investment promotion agency says this will increase to 10% by 2030. In March India's NewIndia state owned space agency sent three dozen space satellites for OneWeb into space after launches by Russia were stopped. In 2023 the US is the largest by far in the space sector economy. China and Russia are also in this space.

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Phased retirement is getting greater acceptance from management in the US. In 2021 23% of employers had these arrangements up from 16% in 2016, according to the Society for Human Resources Management. Of this 8% have phased retirement on a formal basis, and 15% have this on an informal ad hoc basis. Human resource experts say that companies should leverage the voice of experience rather than lose this valuable resource with shift from full time to 100% retirement in one move.

A survey by Mercer LLC of executives worldwide show 38% of executives saying they offer phased retirement, which show a definite trend in favor of phased retirement in 2022. 

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Baby boomers and older Americans are beginning a huge wealth transfer, the largest in modern history. Americans over 70 years in age had net worth of nearly $35 trillion, according to the Federal Reserve data. This is 27% of all US wealth, up 20% from 1990. This wealth is 157% of US gross domestic product, more than double what it was in 1990. Gift tax exemption today is $11.7 million for individuals and $23.4 million for couples. It is scheduled to go down to 2017 level of $5.49 million per person adjusted for inflation in 2026. Annual gifts were $75 billion in 2016. The Biden administration proposed reducing a $40 billion annual tax break in some of these wealth transfers. Some of this would go into infrastructure spending. Other ways the transfers could help the communities in the US revive after the twin crises of 2009 and 2020, one financial and one health, is how some of this money goes into funding many of the needs of communities in America today. $9 trillion is expected to go into helping communities from the $35 trillion. The Buffett children foundations have purchased farmland to create an agricultural hub in Kingston, New York, on the Hudson River north of New York city. They also set up a food cooperative in an old Honda dealership, and setup a ad free community radio station Radio Kingston. More of this kind of work is needed from individuals and couples in the American tradition of community awareness and solidarity, and in communities across Europe, Asia, Africa and Latin America during this pandemic following the same practice. ...

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The shrinking of battleground states under the electoral college system creates serious problems for giving a say to all regions of the U.S. In a functioning democracy all regions would get a say in who will govern the country for the next 4 years. Yet today only a few states in the midwest and in the east determine the outcome of an election. Effectively disenfranchising the rest of the country, the south, the western and eastern coastal regions.

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This WSJ editorial says president Obama's second inaugural address missed the opportunity to bind old wounds with a reference to King on Martin Luther King day. The president chose to set forth a broader liberal agenda including climate change. The editorial points to the tone of the inaugural as setting the tone for the rest of the term and the possibility of return to the rancor that characterized the first term. "We the People" from the Consititution was mentioned several times in the sense of "collective action" that defined this text as government action. The programs of Medicare Medicaid and Social Security as "committments we make to each other." And the programs "do not make us a nation of takers; they free us to take the risks that make this country great," which are seen by the Journal as not appropriate for an Inaugural address that rises above the fray of politics.

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President Obama and President Maliki of Iraq meet at the White House in 2013- both in an awkward position. Maliki having to ask for American assistance in fighting Al Quaeda in western Iraq after insisting on America's complete withdrawal two years earlier. Obama having to face uncomfortable questions on the withdrawal and the current situation after American sacrifices in Iraq during the Bush period. The situation in 2011-2013 involved use of Iraqi airspace for the government of the previous Iranian president Ahmadinejad to supply the Assad regime. Maliki also opposed sanctions against the Assad regime. The visit by Maliki and requests for aid and increasing investment in the oil industry, comes as Iran under president Rouhani improves relations with Turkey in late 2013 to head off increasing Sunni-Shiite sectarianism and conflict in Syria, Iraq and other parts of the Middle East.

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Jon Hilsenrath of WSJ provides an illuminating account of how Daniel Tarullo as head of the Large Institution Supervision Coordination Committee has changed the way bank supervision and rules are set for U.S. banks since the days of the 2008 financial crisis. Tarullo started the effort under Ben Bernanke and continues this in 2014-2015 under Fed chairwoman Janet Yellen. The New York Fed is seen as ineffective in bank supervision and the supervisory role is now entirely performed under the leadership of Tarullo, assisted by Kenneth Gibson and Timothy Clark. The trio are some of the great unsung heroes of the effort to put the U.S. financial system and the economy on a safer footing.

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The European Banking Authority has worked on an exam for European banks since October 2011- separate from earlier stress tests- to determine the capital shortfall at banks arising from potential losses on bank holdings of sovereign debt. The EBA says banks in the eurozone will have to come up with 114.7 billion euros in new capital by June 2012, to meet reserve capital requirements for core Tier 1 ratio of 9%. The EBA looked at bank holdings of European government bonds as of Sept. 30, 2011. Loss rates for government bonds were applied at current market prices for the debt, and banks that fell short of the Tier 1 capital ratio of 9% were identified. This is different from the stress tests in that the stress tests were designed for banks to withstand deteriorating economic conditions, where a range of losses were applied to test for resilience. Spain and Italy have capital shortfalls of 26.2 billion euros and 15.4 billion euros respectively. Germany has a capital shortfall of 13.1 billion euros, France 7.3 billion euros, Portugal 6.9 billion euros, Belgium 6.3 billion euros. Banks have till January 2012 to show how they will come up with new capital. EBA officials will ask banks to do this without restricting lending. Germany's Commerzbank has a 5.3 billion euros capital shortfall, and may need government funds. Italy's UniCredit SpA plans to make a 7.5 billion euro share offering to its existing investors which will address most of its 8 billion euro shortfall. Spain's Banco Santander is divesting assets in Brazil, Colombia and Chile to meet a 15.3 billion euros shortfall. France's BNP Paribas and Societe Generale have shortfalls of 1.5 billion euros and 2.1 billion euros, which they plan to meet by selling billions of euros of assets....

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Pakistan issues Islamic bond at an interest rate of 7.95%, the highest it has paid on such a bond, for $ 1 billion loan. Pakistan's foreign exchange reserves have dropped below $17 billion. A Saudi loan of $3 billion has proved insufficient to build up reserves ahead of international payments coming due. Neighboring Sri Lanka also faces international payments difficulties and is receiving assistance from India. 

The situation in South Asia remains a strange one to someone from outside South Asia with trade and commerce between India and Pakistan missing. This comes as the global supply chain is being renewed along new lines and manufacturing is taking a new role under Made in India and Atman Nirbhar Bharat. Better trade and commerce and financial relations would improve the ease of living for people in all parts of South Asia, giving trade and commerce a chance to define relations and usher a new era of peaceful cooperation.

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Ski resorts in the northern French Alps in the Savoie region and the southern French Alps near Grenoble are easy to access with flights from the US and cost a fraction of what the ski resorts cost in the US in places like Colorado. About 4000 mountain ski resorts are owned by families or a municipality and have kept costs low. By contrast corporate consolidation has led to much higher prices in Colorado and other mountain ski locations in the US. 

During the summer and fall seasons these locations are attractive for hikers and cyclists and cost much less. 

Shown here are-

La Clusaz an hour's drive from Geneva, Switzerland with five sprawling mountains.

Obergurgl-Hochgurgl in Ausstrian Alps near Italy, the Tirolean region and culture.

Tignes, France about 2 and half hours drive from Lyon or Geneva.

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One negative effect of the trade war with the U.S. is an increased emphasis on energy security and increased use of coal in China. After China committed to goals for climate change coal use declined in 2014, after reaching a high in 2013. The attack on Saudi oil facilities showed risk in its reliance on Saudi oil. China's import dependency for oil reached an all time high of 72% in 2018, according to BP 2019 Statistical Review. Gradually the commitment to climate change and lower use of coal has changed since 2016 with the withdrawal of the U.S. from the Paris Climate Change Agreement. Initially after the U.S. withdrawal under president Trump China made bold commitment to lead the fight against climate change but has since wavered. In an October 2019 speech Premier Li Kequiang called for the development of the coal industry to ensure energy security.  As China's economy slowed in 2019 in the face of U.S. tariffs and a trade war with the U.S. efforts are being made to increase infrastructure investment which has driven coal use higher. China's steel output reached a record of 750 million metric tons in 2019. The amount of coal fired capacity under construction in China now exceeds the rest of the world combined, much of it from plants permitted before 2017, according to Global Energy Monitor. China is also expected to become the world's largest importer of natural gas by 2020. Even the Russian gas fields from Siberia supply only a fifth of China's energy demands in 2020.  China has made large strides in renewable energy helping it meet its Paris Agreement targets. Renewable energy is about 10% of China's energy mix, but its use showed growth of 29% in 2018, making up half of the world's growth. China's use of coal in the energy mix has dropped to 58% in 2018 from 72% in 2008, according to BP 2019 Statistical Review, as a result of renewable energy investments. At the Madrid Climate Conference China renewed its commitment to the Paris Climate Change Agreement. Now it is a balancing act keeping in mind energy security and economic growth along with the need for clear skies and better air quality. ...

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The new iPad introduced in March 2012 with HD screen resolution and LTE capabilities is also priced at $499, with the older version priced down to $399. The iPad sales for the 4th quarter 2011 were larger than the PC sales of any individual manufacturer of PC's, according to Apple CEO, Tim Cook, showing the potential and demand for the tablet computers.

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The Congressional Budget Conference committee meetings offer an alternative to the distrust and failure in negotiations between the White House and the House Republicans. Efforts are underway to make the process of negotiating an agreement work in this Budget Committee chaired by Paul Ryan and Pat Murray. Republicans push for spending cuts as the debt ceiling reaches $16.7 trillion in 2013 compared to $4.9 trillion in 1993, an increase that is triple the increase in the prior 5 decades. Democrats say the cuts would hurt economic growth and the unemployed.

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Parmeswaran Iyer's unique background in water and sanitation at the World Bank led to his work as Secretary of Water and Sanitation in the Government of India. At that point he was chosen to head prime minister Modi's campaign for Clean India called Swachh Bharat Abhiyan. It was an effort to provide clean neighborhoods and tackle a problem that had eluded earlier efforts including Gandhiji- open defecation. Iyer was instrumental in making it work by having 90 million toilets built in India.

From that mission he was selected to head India's overall development plan as CEO, NITI Aayog. In a piece in the Times of India Feb 14, Iyer puts forward the  mulltipronged effort for development in India based on ensuring financial strength, controlling inflation, supporting microenterprises, housing, health and education efforts, and technology advancement through digitalization including 5G.

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Daniel Henninger says in the WSJ that the debt ceiling will be raised, and Republicans should not be pitting program against program. He says the narrative though should be framed around the trillions being spent by the Biden administration on climate change action, US manufacturing and technology in chips, with interest on debt at over $400 billion a year. Yet this does not take into account that for two decades there has been an overcrowding of US government initiated capital investment for essential needs by massive Tech industry misallocation of funds even as productivity of this capital invested by tech was dropping, with much wasted capital. Today because these essential needs in infrastructure and for manufacturing and technology were starved for so long of capital the productivity of capital in these areas is high and will have ripple effects to help rebuild America.

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Russia is expected to earn nearly $321 billion from energy exports in 2022, up more than a third from 2021. This more than anything else is supporting the currency. It also means Europe will continue to buy Russian oil and gas through 2022. The rest of the reason experts say for the resilience of the rouble is  that Russia has put in place capital controls and raised interest rates to 20%. This they say is an artificial boost and the rouble is likely to weaken in the long term. 

The steps take to keep the value of the rouble and also the damage to the trading and economic relationship Russia had with the world after invasion will reduce growth in Russia. Growth of 2.8% in 2022 will turn into 10-15% contraction in the economy in 2022. 

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President Murmu addresses the first session at the new parliament building in New Delhi, India. In the tradition of British parliamentary democracy followed by India the opening speech of parliament is done by the president outlining the government's plans for the coming years. Murmu describes the achievements in providing basic infrastructure, water, cooking gas, rail and transport, food, healthcare to over 1 billion people in the last ten years, and controlling the cost of living. Making new investments in digital and other technologies, in infrastructure development to build an advanced economy under Vikshit Bharat by 2047, the 100th anniversary of independence from British rule. It also reflects women's empowerment and diversity in a democracy in Asia as Murmu was a schoolteacher in Orissa in the northeast and the Finance Minister Nirmala Sitharaman is a woman from the Chennai area in the south.