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With occupancy declining to below 76% on many of the downtown San Francisco buildings the value of this is decliining fast. The Embarcadero Center that once defined the downtown area is now on sale for $90 million, according to the WSJ report, down from $245 million that was paid for it in 2018. Owners of these office buildings in San Francisco are liable for payments on $12 billion in bonds, according to S&P Global. Half of the stores in the Union shopping district have closed and Amtrak ridership is down 61% over 2019.

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Burning of stubble from the rice harvest to clear land for the next year's cultivation in the Punjab creates 25% of the pollution over New Delhi. Automobile pollution adds more pollutants. This toxic mix of pollutants is trapped by the cooler air during the winter over much of northern India. At one point the pollution index reached 643 in New Delhi, by comparison it was hard to breather with an index of 116 from the wildfires in Canada's northern region that sent smoke all the way into Washington D.C. 

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Almost all countries have lower commissions for real estate sales. In the US about 3-4 houses are sold over a lifetime. At 6% commission this amounts to a cost of 25% of the sale price of these homes. This adds to the cost of living for American people and reduces their savings for investment in quality of food, education, health and leisure activities. By comparison in the UK it is 1.3%, in Netherlands 2%, in China 2.5%. In most countries only 33% of sales are done by buyer agents in the US 89%, in the UK less than 5%.

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Paul Hannon in the WSJ tells the story of how the Swiss now support the 15% corporate minimum tax. 78% of Swiss voters support the new tax in a referendum. Switzerland is now trying to change the bad reputation it had gained as a place companies moved to shift profits to low income tax locations. Switzerland now joins 35 countries implementing the 15% corporate tax in 2024 and 2025, including the 27 members of the European Union, Australia, Japan, France and the UK. 15 other countries say they will do so in that time frame.

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Only 2 migrants were sent to Rwanda under a British government program of the Tories party to send migrants to Africa. The program if it took off was to spend 490 million British pounds to send migrants to Rwanda from Britain. A payment of 120 million pounds was made to Rwanda. WSJ says it is a huge waste of money. Each of the 2 migrants were paid $3000. Meanwhile record numbers of migrants entered Britain through the English Channel. Over 500 migrants crossed over in small boats each day in 2024, a 23% jump.

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France's new premier Francis Bayrou says in a policy speech to parliament yellow vest protests need to be heard and the pension reform of 2023 with large protests can also be debated and renegotiated. It is an effort to bring together all parties after the alienation of the last 2 years. Macron raised the pension age from 62 years to 64 but did not first get the support nationwide that was needed. 

Bayrou raises the deficit target to 5.4% from 5% under the Barnier government that lasted only 3 months and failed to win parliamentary support.

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A new test for Prostate Cancer, a test with high accuracy being developed in Britain- in it are proteins shed by prostate tumors in urine are tested.  This test is planned with testing of 200,000 people in Britain with funding of 42 million pounds. It has 0.92 accuracy compared to 0.62-0.75 for the conventional PSA Test. This test tests a different set of proteins. PSA Test is known to have false positives and is not accurate. This will revolutionize the testing for prostate cancer, one of the main cancers affecting men.

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Ford car inventory April 2025 is 568,000 vehicles, 8% higher than in 2024. Only Dodge has more vehicles in inventory.  Ford From America For America car discounts give the price discount given to employees to customers in April 2025. This will displace some of the German and South Korean cars that face a 25% import duty on Liberation Day April 2, 2025. German and South Korean cars are made in their home country or a third country about 60% for South Korean makers Hyundai/Kia and over 70% for German carmakers VW Audi, BMW, Benz.

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California lost 79,000 jobs in January, 2009. The California Employment Development Department said the unemployment rate was 10.1% for January 2009, up from the revised figure of 8.7% in December 2008. California expects to pass 11 or 12% unemployment in 2009. A total of 1,863,000 Californians are unemployed, up 754,000 from January 2008, with 3.3% fewer jobs in January 2009 compared to January 2008.

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Jack Ma of Alibaba is a very different person in 2023. This WSJ report looks at his activities in 2022 which included a stay in Hakone, Japan, visits within Japan, visit to Netherlands, Fiji. His current interest is in food production and meeting the agricultural needs in China over the next 20 years. Most of the time he is anonymous and people in the vicinity have no idea that this is Jack Ma.

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President Biden whose ancestors are Irish will visit Northern Ireland in an effort to hail the 25 year old deal that brought an uneasy peace between the two communities in Northern Ireland, the Catholics and the Protestants. The Catholics were discriminated against for centuries and wished to join Ireland, and the Protestants identified with Britain and wanted to remain part of Britain. Joining him will be the prime ministers of Britain and Ireland.

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The CUET, Common University Entrance Test will provide a uniform test for all parts of the country. It is now required for all 45 Central Universities to admit undergraduate students. The computer based test offered in July each year will be conducted by the National Testing Agency based on the National Council of Educational Research and Training (NCERT) syllabus for Class 12. It will replace institution specific exams.

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The day and routine of a stocker at Kroger grocery supermarket. He has added 20 hours to a 40 hour workweek. He starts at 4 am, three hours earlier than the typical time. Paper products, bottled water, canned food are moving fast. Customers appear stressed, but some come in more than one per cart as a way to get out. He spends a third of the day stocking online orders.

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Johnson and Johnson vaccine is 66% effective in a single shot, a 44,000 trial study has shown. Remarkably it is 85% effective in serious illness and prevents all deaths 28 days after it is given. It is also shown to be as effective in serious illness and deaths in South Africa and 57% effective overall. The South African variant was a cause for concern in the second wave in 2021.

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The European Commission says that 70% of adults in the European Union have now been vaccinated with 2 doses, about 256 million people in 27 countries. In the US this figure is 63% for persons 18 and over, in UK 77% are fully vaccinated for 16 and over. There is a wide variation between countries in Europe- with Portugal at the high end and Bulgaria at the low end for vaccination.

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Sweden's elections show that the problems of crime, immigration, and healthcare affect the northern European countries. Sweden's Social Democrats are still the largest party. Sweden Democrats anti-immigration party gets about 20% of the vote,. The Moderate Party becomes the third largest party with its leader choosing to form a government of the centre right parties if these parties get a slight majority in the final results.

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A big change in the new Tax Law is the doubling of the Standard Tax deduction to $12,000 per person and $24,000 for a married couple filing jointly, if itemized deductions are not used. State and local income tax deduction is limited to $10,000. This will shift 20 million more people to not use itemized deductions. There will no longer be value in charitable deductions if one is using the standard deduction.

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Germany's chancellor gives her support to French president Macron's call for agreement before the summer holidays on a 750 billion euro rescue package. Merkel told 27 leaders of EU countries Europe faces "very, very difficult times" and even said that she was not sure the gravity of the situation was truly understood. The value of the economies of some states could drop by 10% in 2020.

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In a television debate Jan 18, 2017, Benoit Hamon, a 39 year old former Education minister is seen as the most effective of the French Socialist presidential candidates. He proposes a universal income that particularly supports and creates work for young people ages 18-25 years.

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This editorial in the NYT says it is time for both sides to take a deep breath and agree on extending the deadline of March 29, 2019 for Britain to leave the European Union. More time is needed to work out deep and contentious issues. 

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MaC Group, a risk advisor to Spanish banks, says Spanish banks hold about 30 billion pounds of distressed real estate and unsellable land. Prices are down 28% from the peak in 2007, according to a report by the IESE Business School, and are expected to fall a further 15-20 percent in the next 2-3 years by some experts. Much of the bank owned land is far from city centers and there is no demand for this. One Madrid based consultant R.R. de Acuna Asociados, says 43% of bank owned land is poorly located and there may be no demand for unfinished residential units for decades. The new government of Mariano Rajoy plans to take action to cleanup the banking system. Louis de Guindos, director of PricewaterhouseCoopers and IE Business School Center of Finance is expected to become the new finance minister. Guindos says strict rules need to be implemented, with some banks able to handle this and others that won't. MaC Group's Cantos, a managing partner, says the gap is huge between prices offered by banks and what investors will pay- as much as 70%. Prime assets can be sold for 30% discount but the land, residential and commercial real estate will require discounts of 70%. Banks have made provisions for losses of 30%, and are now facing the prospect of another 40% in losses. As a result many of the medium and small sized banks which operate only inside Spain may have to be shut down or consolidated by the government of Mariano Rajoy. Only the larger banks like Banco Santander, Banco Bilbao, La Caxia, and Bankia are likely to surivive....

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GM's joint venture with Luizhou Wuling Motors has produced a win-win situation for both companies. Wuling was a small, regional manufacturer when the joint venture started. Now Wuling has more than 1 million in unit sales. And GM has benefitted from the rapidly growing sales. Year over year sales were 29% in 2010, and were slowing to 10% in 2011, with the end of government incentives. Wuling vans can now be sold under the GM brand in India, using lower cost manufacturing in China. Looking back this was good for GM. The future however has some twists and turns and could turn out to be different. Wuling joint venture will produce cars at a lower price point under the Baojun brand. These cars were shown at the Shanghai Auto Show, and will be marketed to customers who are looking for affordable cars in the second and third tier cities in China. The Baojun brand joint venture will have one difference. This brand involves intellectual property being held in common with Wuling Motors. This is part of China's new plan for American and European manufacturers in China- the price of access to the Chinese market is greater technology sharing with Chinese partners. In the long run this should enable Chinese manufacturers to be dominant inside China. This process is already underway. According to J.D. Powers, Chinese brands had 32% of the domestic passenger vehicles market in 2010, up from 18% in 2000. Something similiar happened with Japan, where Nissan was making Britain's Austin A40 series in the mid-1950's. By the 1960's the foreign tieups were replaced by Japanese manufacturers dominant in the home market and exporting their own models. ...

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What the US wanted in the initial hours- use of Diego Garcia base and RAF base in Haverford Gloucestershire. UK's Keir Starmer first denied use of the bases and till he could verify US attacks were within international law. When Iran responded with a a barrage of drones and ballistic missiles 840 drones and 340 ballistic missiles and attacked the British base RAF Akrotiri in Cyprus, suddenly Starmer saw the opportunity to justify US use of British bases on defensive grounds. DJT called the British response "very disappointing." Starmer told parliament-  "To be clear, the use of British bases is limited to the agreed defensive purposes; we are not joining the US and Israeli offensive strikes. The lessons of history have taught us that it is important when we make decisions like this, that we establish there is a lawful basis for what the United Kingdom is doing. That is one of the lessons from Iraq, and that there's a viable thought-through plan with an objective that can be achieved or has a viable prospect of being achieved.That is the principle that I applied to the decisions that I made over the weekend. This government does not believe in regime change from the skies." The situation Starmer faces domestically is that voters for Reform UK and Conservatives support full use of the airbases. Voters who vote for Liberals, Greens and Labour do not support use of the British airbases. Local elections in which Labour is seen losing a large share of its 2024 vote to Greens and Liberals is one factor the premier had in mind, in addition to issues in the war in Iraq.  Another is the consideration that Britain has a large presence in the Gulf from the days of the Empire when they were British colonies.Already in 24 hours 100,000 Britons have registered for help in the Gulf region. Britishers run much of the tourism, airlines and other business in the Gulf region as the Gulf states are small in area, with small populations and a large population from South Asia for certified migrant labor, and British managers at the higher levels. When Iran attacked UAE, Bahrain, Qatar, and Saudi Arabia with drones and ballistic missiles it was clear that Britain was also being attacked though the attack on the RAF base in Cyprus was cited. ...

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BJP Modi election win in West Bengal and upset by TVK party in Tamilnadu states of India are a result of existing state governments not meeting the aspirations of young people in India for jobs, lack of progress in industrialization and lack of investment in infrastructure. These are the pressing priorities in India. Whoever can deliver on modernization and industrialization, jobs and infrastructure to meet the aspirations of the Indian people is likely to prevail. This is also no different than the process underway in the US and Europe for reindustrialization and remodernization, updating infrastructure built in the 19th century, jobs and incomes. The BJP party of prime minister Modi has set the bar high for modernization of the scale of China and Japan for India, and to even surpass them.  It is definitely doable, particularly now that India has built trade links for import of new technologies with the US and the EU, and when it is already an economy the size of Germany or Japan. Most of the Opposition parties cannot believe this is possible, and most of the media that covers India has the same views. As a result the titles and the discussion in the media are like that of 15 years back when India was led by parties that lacked the will and drive for industrialization and modernization, corruption and mismanagement dissipated resources, could not create the master plan and execution needed,  and lacked the leaders at the ministerial level to accomplish this to deliver on every promise. In fact the elections of the last 2 years have created a new northeastern India - changed the map completely with the growth in a region half the size of the European Union of 300 million people that is able to grow at 20% a year for 10 years in Bihar, West Bengal, and Orissa, Assam regions, where the mighty Ganges and the Brahmaputra rivers flow into the seas from the Himalayas. There is that much potential and it means India itself can grow at rates of 10% once all the conditions are right in a few years to 2047 for Vikshit Bharat, Modernized India. The world economy can also grow with such a vibrant dynamic India. ...

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US $1.5 trillion budget request for 2027 fiscal year by the president for military and defense spending is about 4.7% of US GDP forecast of $31.8 trillion in 2026. In 1960 it was 9% following the Korean War. It dropped to 3.1% of GDP by 2000 and stayed around 3.4% till the current effort to modernization of the US military is thought to require about 5% of GDP.  (World Bank charts). The US spent far higher during an earlier period reaching 14% of GDP in 1953 during the Cold War with the Soviet Union. This report shows WSJ Analysis of where the $1.5 trillion request for Defense is going-  $1.1 trillion for War Department and $350 billion for critical munitions. The munitions are in short supply and war in Iran shows that it plays a critical part in defensive systems such as intercepting of missiles as missiles in short supply affect overall capabilities. An additional $200 billion for Iran War. Pay raises for Defense personnel. $66 billion for shipbuilding- 34 ships to put the US back in the lead for shipbuilding it has lost to China, with the help of Japan which is also ramping up the shipbuilding it has lost to China. US and Japan were leading shipbuilders in the  1930's and in the 1960's, then lost it to South Korea and China. About a 12% decrease in other Department's budgets including Health and Human Services, Treasury, Commerce, Interior, Housing and Agriculture.  These cost reductions some of it coming from more efficient functioning and from concepts such as zero based budgeting where every line item in the budget gets reviewed every year for how much is needed for the purpose, is the purpose still valid, and can it be done more efficiently costing less. $660 billion is coming from the savings. The Nation's capital will also get a facelift, a major renovation, after being ignored for years. In the new Budget is $10 billion for the Presidential Capital Stewardship Program within the National Park Service for beautification projects in Washington D.C., which will give the National Capital a much needed new look for millions of visitors from the 51 states in the Union.    ...