LyrArc Article Gist
After stalling in summer 2021 US vaccination picks up in August to 865,000 on August 4, 2021. At one point vaccinations reached 3 million a day and stalled with younger people hesitating to get vaccinated. Some southern states Tennessee, Oklahoma and Georgia see a surge in vaccinations. This happens as US daily cases exceed 100,000 for the first time on August 4. Of this 50% are in 8 southern states including Florida, Texas, and Louisiana. Florida is the worst affected state. Hospitals are again being overwhelmed with new cases of delta variant among the unvaccinated in August. Southern states have lagged behind in vaccination.

LyrArc Article Gist
Hillary Clinton tells supporters "we have reached a milestone," as she becomes the first woman to be a major party's nominee for president. She wins 4 of 6 states including New Jersey and California. She wins California by 56.8% to 43.2% for Sanders, and New Jersey by 63.3% to 36.7%. She says about Trump that "My Mother ... taught me to never to back down to a bully.  Which turned out to be pretty good advice." Sanders says his campaign would not support Mr. Trump, "a candidate whose major theme is bigotry."

LyrArc Article Gist
Britain's parliament voted Jan. 15, 2019 to reject the Brexit deal crafted by Theresa May with the European Union by a huge margin of 230 votes. The vote was 432 to 202, with 118 Conservative MP's voting against along with the entire Labour Party members. 

If a no-confidence vote by the opposition Labour Party is defeated as expected with 118 Conservative MP's backing the government in that vote, the uncertainty and rancour and bitterness will continue. May will look for ways to tweak the deal to get it through parliament. If this fails Britain could march out of the EU with no deal on March 29, 2019, or the date is extended. She opposes extending the date or having a second referendum.

LyrArc Article Gist
The British parliament defeated a measure put forward by prime minister Cameron for military response to the chemical weapons attack in Syria in August 2013. The vote against British intervention was 285 to 272 with members of his own party and Liberals voting against the measure. The case put forward by Cameron was based on humanitarian grounds, and to prevent the use of chemical weapons in the future. Under pressure from politicians from all parties Cameron decided to put this to a vote in parliament following a debate on Aug. 29, 2013. In calling for the vote Cameron said he was deeply mindful of the deep concerns about Britain's intervention in Iraq in 2003.

LyrArc Article Gist
Bennhold and Erlanger of the NYT point out that prime minister Theresa May has remained vague about the nature of the negotiations for Brexit. The snap election increases the confusion with a hung parliament and no party getting a majority. The result can be seen as sending mixed signals. The British public by supporting parties such as Labor, SNP and Liberal Democrats with over 50% of the vote, is saying that it is not sure about Brexit being a priority for Britain, given the uncertainty for the British economy and other pressing problems. All this had been lost in the debate about hard and soft Brexit, in the political rhetoric taken up by Ms May when the basic questions about Brexit have not gone away. Here Erlanger and Bennhold take leaders back to these questions posed by former finance minister George Osborne. Osborne as Editor of The Evening Standard asked readers 10 questions- How is withdrawal going to increase trade when you leave the biggest free trading bloc in the world? How can withdrawal help London as the financial capital of the world? How is migraton going to be tackled when its not clear which business will have its labor supply restricted or curtailed. For these reasons- apart from many others about the whole process of withdrawal and the cost to Britain- the whole idea of Brexit appears to have not been thoroughly thought through. As a result the referendum vote may be seen in Europe as a temporary reflection of British opinion at that point of time, and subject to change over time.   ...

LyrArc Article Gist
How a tightly interconnected community such as tech startups can quickly fall apart in a crisis is the subject of this WSJ report by Christopher Mims. He says on the way up this meant positive leveraging that exceeded 150% and this is also true in the other direction on the way down just as fast. Most startups depended on Silicon Valley Bank and First Republic for financing. Venture capital moved from inside to unravel the SVB bank. The US government simply wants to stabilize the economy and is not intending to make the uninsured depositors whole except in the way that it is self contained and does not spread to other parts of the banking system. Tech startups will now find it difficult to get new financing, if not impossible, says this report. About 8% of total jobs in the US economy are dependent on tech. When it comes to work that is dependent on tech the number is higher closer to 20%. Some of the tech layoffs will be offset by new kinds of tech and with government private collaboration in the new frameworks coming up, such as for EV vehicles with manufacturing in the US, and the $53 billion for the  CHIPS and Science Act of president Biden. Solar and wind have new frameworks of a similar type as the focus shifts to fighting climate change. These networks are interconnected with the EU which is creating its own parallel networks of this type. ...

LyrArc Article Gist
Britain and other parts of Europe from France to Netherlands take another look at the racism during the period of British, Dutch and French rule in India, Indonesia and Indochina, as well as in British East Africa, French West Africa, South Africa where Gandhi began his Satyagraha before coming back to India.

Gandhi's Story of My Experiments With Truth is an autobiography that provides glimpses of life in South Africa and his life from childhood to 1921. It was published in Gandhi's journal Navjivan from 1925 to 1929. It also gives one a real feel of how he experienced the impact of the British Empire and ideas he derived from John Ruskin during the period he spent in London, and the gradual evolution of his philosophy of preserving the dignity of the individual in the context of the ideals of Vedanta and the Indian Upanishads.

LyrArc Article Gist
Efforts of prime minister Theresa May to somehow force members of parliament to back her Brexit deal through repeated votes in parliament have collapsed. Speaker Bercrow says the same deal cannot be voted on twice. Last week the British parliament rejected May's Brexit deal by the largest margin of any bill in parliamentary history. The vote rejecting her deal was with a margin of 149 votes. Speaker Bercrow cited a parliamentary convention dating back to 1604.  

Conservative Party leaders opposing May's deal Jacob Rees Mogg welcomed the Speaker's ruling. The Conservative Party is so divided on this issue of exiting the European Union that it has severely undermined Mrs. May's authority in parliament. Mr. Mogg favors leaving the European Union with no deal regardless of the consequences. On the other side is the Labour Party and some Conservative party members who are adamantly opposed to this.

LyrArc Article Gist
Much coverage in India's media on the 150th of Gandhi. This essay provides insights into Gandhi for the self-empowerment of women in India's organized and unorganized labor sector. The author worked with the Textile Labor Association founded by Gandhi and Anasuyaben Sarabhai in Ahmedabad in 1920. She reminds Indians that it is about labour and capital working together for the betterment of India not capital against labor, or labor against capital, an idea she says is lost today. Ahmedabad became a textile center in the period between the 2 world wars, and Gandhi negotiated a 35 cent increase for mill workers after a 1917  labor strike. Anasuyaben started working with mill workers after seeing a women exhausted working a 36 hour shift. Earlier she was involved in the suffragette movement in Britain  and had seen the appalling conditions for mill workers in Britain. Her brother Ambalal Sarabhai was an industrialist and her uncle Vikram Sarabhai India's leading atomic energy scientist and pioneer in that field. She says most of the stuff written about Gandhi is laudatory without going to why it worked and knowing its value in bringing dignity to millions of the poorest people in the country. By taking personal responsibility even the poorest person could find dignity and empowerment was Gandhi's idea, and with it the whole country. This idea found its best expression in the Bhagavad Gita to which Gandhi turned as he faced the problems of coolies empowerment in South Africa and rural laborers in India under colonial rulers indifferent to their condition or progress. Gandhi's idea was that this empowerment and dignity was the way out through taking personal responsibility by each person- an idea expressed clearly in his short book "Hind Swaraj" India Home Rule, written in 1910 on a steamship going back from Britain  to South Africa. Taking personal responsibility if each person did it in a country of hundreds of millions would make it impossible for a couple of thousand Britishers to remain in the country. Ideas of non-violence were instruments of action, no more, no less. This was Gandhi's idea, his and the Gita's wisdom, and his shrewdness in a situation that confounded everyone faced by problems of a vast region with mostly rural labor and an indifferent foreign government. The same idea can be translated into action in today's environment in the same way based on personal responsibility for modernization, Swachh sanitation, cleaning up single use plastic, generating employment in manufacturing, and any number of ways in key areas of development. Gandhi saw the British as more a nation of traders. Without commerce the British would have less reason to remain in India. Personal responsibility leading to empowerment for tens of millions would make it impossible for the  few tens of thousands  of British to remain as it would require too much in resources to continue in India as a colonial power. This happened in 1942 as the military leader Wavell was made Viceroy during the war and wrote back to the British government that it would require 7 divisions to maintain order in the country. Economic adviser John Keynes cautioned the British government against prolonging colonial rule because Britain could no longer afford the cost after losing a quarter of its wealth in the Second World War. This is shown in the archives cited by several authors on this period. ...

LyrArc Article Gist
Applebaum talks to two researchers at the University of Chicago and Princeton, Prof. Sufi and Prof. Mian, on the record of U.S. president Obama and Fed chairman Bernanke in helping homeowners facing foreclosure and underwater borrowers, comparing that record with their record in helping the banks. The issue is relevant as the policy and handling of homeowners had to be part of an overall effective plan for recovery in the U.S. economy, because ultimately without the U.S. consumer any recovery would be weak in the long run- a situation the U.S. faces in early 2014. The response to the issue of irresponsible homeowners borrowing beyond the limit without an equally robust response to irresponsible bank management that allowed wildly excessive leveraging of assets, and successful aggressive lobbying by banks in a shortsighted policy of going through with a wave of foreclosures; besides creating questions of fairness and equitable handling of the problem, also had major ramifications for the future of the U.S. and global economic growth. Here Christina Romer and other administration advisors say Bernanke was right in tackling the problem from the perspective of the banks needing to be recapitalized. Thoughtful advisors looking at the entire problem, Martin Feldstein and Sheila Bair strongly pushed for providing the same help to homeowners without getting caught up in the issue of who was responsible home buyers or the banks, and looking at the interests of the U.S. economy and the U.S. people. Proposals by Feldstein and Bair were equally robust in helping banks as they were in helping homeowners, only the banks understood their interests narrowly and had more access to policymakers in the Bush, as well as the Obama administration, Paulson as well as Geithner. This leaves us with the ultimate irony of the Obama administration pushing for the minimum wage, even to the point of electoral posture, when lasting damage had been inflicted on homeowners from the weaker portions of America's middle class by a policy that went against what two respected financial and economic experts from the Reagan period, Sheila and Bair had strongly advocated. See links and groups on Feldstein and Bair. Applebaum has followed most aspects of this problem closely and continues to provide exceptional reporting including the piece on the thinking of new Fed chairman, Janet Yellen. Private enterprise rules that require management at banks just as for other companies to take responsibility for failures, and be replaced with new management, was largely avoided leading to a fundamental failure in how a free market economy such as the U.S. and western European economies are supposed to function. Rules aggressively pushed by Geithner's mentor Treasury Secretary Rubin for a vigorous cleanup at banks in South Korea during a similiar situation in 1997, were not followed in any way here, also setting wrong precedents for the long run. ...

LyrArc Article Gist
Prime minister Modi's visit to the US comes at a time when US president Biden is eager to show the US is fully engaged in the Indo-Pacific region with its allies in the Quad 4 countries- Australia, Japan and India. The recently announced Aukus defense agreement brought together 2 members of the Quad 4 the US and Australia, plus the UK. Aukus is designed to strengthen US presence as a naval power in the Indo-Pacific region in the Indian and Pacific oceans around India, Southeast Asia, China, and across the Pacific. After a futile engagement in Afghanistan the US is reorganizing its presence where it is strongest- in the oceans. In a way that Britain once did in the eighteenth and nineteenth century, the US is dominant in the high seas. US naval power far exceeds that of all navies in the world combined. This is meant to reassure India, Bangladesh, Sri Lanka, Thailand, Malaysia, Indonesia, Philippines, Vietnam, Australia and Japan, which together have close to twice the population of China, that the US has not diminished its presence in any way from that it had in the 1950's following the Second World War. With this new framework India enters discussions that will focus on health to deal with the pandemic and its after effects, with security and rule of law in the Indo-Pacific region, with trade, technology, new supply chain manufacturing structure in which India plays a key role. With this new focus and clearing past engagements made by other US  presidents, including some mistaken policies, the US emerges as a new force in the Indian ocean, China seas and Pacific ocean region.  On September 23 Modi meets Tim Cook for what could be new supply chain arrangements that Apple could be preparing as it and other US corporations build new supply chain structures to rebuild US manufacturing technologies capabilities that were lost to China over the period 2000-2020. During that period manufacturing technology knowhow was shifted out of the US in a mistaken policy that assumed design and invention were sufficient for the US to keep. The first step in this direction was a change of CEO's at Intel Corp with US president Biden pushing for new US technology reclaiming policy. Following that the new CEO at Intel Corp, Patrick Gelsinger, completely reassessed Intel's mistaken policies of ceding its entire semiconductor manufacturing technologies capabilities to Taiwan and China. Intel made a U turn and is now investing all or most of $50 billion in the US instead of in China or Taiwan.  On September 24 Modi meets Mr Biden to discuss trade, investment, defense, and security. On the same day the leaders of Japan, Australia, Mr. Suga and Mr. Morrison join Modi and Biden for the Quad 4 talks. Indian infrastructure capabilities and Indian economic growth would be key goals to strengthen India along its land borders along Tibet occupied region and Himalayas as part of the overall effort to build a new US and allied presence in Asia.  On September 21 Modi attends a Covid Summit that will look at the way forward in the aftermath of the pandemic and ways to vaccinate the remaining unvaccinated population in the world, as well as vaccination passports.  ...

LyrArc Article Gist
Britain's High Court gives a ruling on November 2, 2016, that the government must consult parliament, and that parliament has to approve the plan for Brexit before invoking Article 50. This means that the government has to lay out the details of its plans which make it harder to conduct negotiations. The Conservative Party also does not have a majority in the House of Lords. Legal experts say the decision which caught the government by surprise was expected from a constitutional law standpoint which looks at whether the sovereign or parliament is supreme in making such a decision. Members of parliament in general were not in favor of leaving the European Union, making this add an element of uncertainty about Brexit. Political experts say one way out for Theresa May who earlier announced that she would invoke Article 50 by March 2017, is to call a general election. Today she has 329 seats in a 650 member parliament, with many of the MP's opposed to Brexit. May's government is expected to appeal the High Court decision to the Supreme Court. ...

LyrArc Article Gist
Goldfarb says everyone is focussed on the "fiscal cliff," yet there are other issues which when put together could lead to a drop of 1 percentage point in growth and add a million people to the jobless. The temporary payroll tax cut for 160 million workers was setup in Dec. 2010. The payroll tax which funds Social Security is 4.2% since then, down from 6.2%, adding about $1000 for the average family to spend. The unemployment insurance benefits which expire for millions of people will also have an impact. As will the $60 billion in spending cuts on domestic and defense spending under an agreement made in the summer of 2012.