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Jumbo loan mortgages in dollars accounted for 20% of first lien mortgages in 2014, the first time since 2005, and back up from 5.5% in 2009 at the height of the subprime mortgage crisis. This part of the market for homes priced over $417,000 or $ 625,500 in pricier regions, has gained its footing faster than the rest of the market. Sales of existing single family homes between $750,000 and $1 million, were up 21% in June from the prior year, compared to an increase of 12.5% for homes between $100,000 and $250,000, with homes below $100,000 declining by 3%, according to the National Association of Realtors. The jumbo originations are closely correlated with the stock market. The loan performance criteria were tightened after the 2009 crisis leading to requirements of larger down payments and higher FICO credit scores. The strong loan performance is shown in the credit score for May 2015 of 770, and down payment of about 32% for jumbo loan originations, according to CoreLogic. Interest rates are also very close between smaller Fannie conforming mortgage loans and jumbo mortgages, 4.05% compared to 4.07% on jumbo loans. The higher demand is leading to competition between JPMorgan Chase, Wells Fargo and Bank of America in this part of the market. Chase is focussing on this part of the market with the strong loan performance- only 1.9% of jumbo mortgages being late 30 days or more compared to 6.5% for Fannie Freddie conforming loans, according to Black Knight Financial Services. As part of its strategy Chase offers minimum down payments of 15% and credit scores of 680 for single family homes as primary residence, starting August 5, 2015, down from 20% and 740 earlier, for mortgages between $1.5 million and $3 million, a change already made in 2014 for jumbo mortgages upto $1.5 million. Similiar move is made by Chase for lowering down payment on vacation homes and second homes. Wells Fargo also cut the minimum down payment- to 10.1% from 15% for jumbo mortages upto $1 million. ...

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One needs to look at India -US relations over the long span 1900-2025  looking only at the long haul. In taking a look at the relationship in this way Gandhi's letter to FDR during the Quit India Movement from Wardha July 1 1941, and FDR's reply (with Churchill and FDR fighting Japan in 1941) ranks as memorable and long lasting, far likely to prevail as an idea that holds the imagination of it's peoples than the pulls and shifts of different administrations. Even in the  depth of the war against the Nazis in Europe, and the Imperial Japanese Army rampaging through China, Gandhi felt comfortable looking to America as a friend. Churchill was the antagonist at the time unwilling to let the British Empire fade, and FDR was a friend through the Second World War. Gandhi opens his letter to FDR saying "Dear Friend. I twice missed coming to your great country... I have profited greatly from the writings of Thoreau and Emerson..." And FDR writing back "I shall hope that our common interest in democracy and righteousness will enable your countrymen and mine to make common cause..." For India the powerful words of Cordell Hull his Secretary of State, were offered by FDR with unmistakable goals of freedom and democratic process for India. Eisenhower and Dulles support for Pakistan in the 1950's into 1970's, a period of China and India in the 1970's and 1990's shifting away from old economic arrangements, till India US under Biden 2020 where India as with FDR  was "the closest in the world" to the US, following China's shift to Communist rule and now competition with the US. Taking this long perspective India and the relationship with America will be determined by the 1.8 billion people of the two countries (with Indonesia 2.1 billion people), and the potential for this is vast and only growing by the year. There is a natural affinity and feeling that is only now coming into its own because of a shared responsibility, and a shared understanding, as parts of the former British Empire, separated in 1783 and 1947. And the mutual desire to build the modern world on the terms left by advances of science and technology combined with the ancient civilization of the Bible, Buddhism and the Upanishads. In this sense modern India is made with America and does not exist separate from America, and modern America forward is made with India and does not exist separate from India. ...

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The number of workers out of work in the US for 3 to 6 months increases sharply from Spring 2022, as the labor market cools. Fed's Jay Powell's effort to cool the labor market with higher interest rates appears to be working.

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Severe damage to Pakistan's agricultural sector in the monsoon floods of 2022. Half of the cotton crop is destroyed say officials, and large part of the rice crop. The wheat planting is affected at a time when there are shortages of wheat in the world.

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At a time in Jan. 2022 when 73% of Americans have received two dose vaccines and 39% have a booster shot according to the CDC, the US Supreme Court is deliberating on the Biden vaccine mandate that seeks to get the rest of the people vaccinated.

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In India for the whole country about 500,000 samples are being tested each day at the end of July 2020. This is leading to a jump in cases. It also ensures people who test positive are being asked to isolate to stop the spread of the virus.

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A very close competition between Manchester City and Arsenal for the Premier League title in 2024. For Manchester City this would be the 4th title for former Barcelona coach Pep Guardiola. For coach Arteta of Arsenal it is the climax to a wonderful season second half.

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Is Florida a possible swing state in 2024? Republican Senator Scott's margin shrinks to 2% in recent polls. Larger abortion rights related turnouts suggest that his is possible though it has to overcome the 1 million advantage in registered Republicans that Florida has today.

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US president Biden links the fight on the beaches of Normandy to the defense of Ukraine with the war nearing Kharkiv in June 2024. Biden puts flowers at the place where 9388 Americans are buried, who died in the initial assault on Omaha beach, Normandy.

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Gemany face a serious challenge from Portugal and the teamwork of Christiano Ronaldo, Bruno Hernandez, Bernardo Silva, Diogo Jota in Euro 2021 soccer on June 19.

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The role of Merz and Leyen of the CDU is bigger than is grasped in the trade deal with India and the change that Germany has made in shifting the gaze and engagement of the European community towards the 1.4 billion people of India for a new start after the disappointment of the relationship with China from the Merkel years. Merkel completely failed to understand China its history, and Asia and its history. India as the homeland of Buddhism is the source of the spiritual culture of China and Japan, Korea and Vietnam. The intervening period of invasions from north in the 15th to 17th century and British rule and the European early shift to science and industry in the 18th to 20th century has acted as a hazy atmosphere that clouds many perceptions of how Indian, Chinese, and Japanese history has evolved.  For Merkel there was the additional layer of misperceptions from the period growing up the GDR, or Communist East Germany in Soviet influence. This is why Merz completely fit into the Kite festival mood and atmosphere on the banks of the Sabarmati in Ahmedabad and at the Sabarmati Ashram of Gandhi in January 2026. Leyen also of the Christian Democrats could grasp the fact that German philosopher Schlegel translated the Bhagavad Gita from Sanskrit into German soon after Charles Wilkins did this in 1724. People to people ties have great potential to develop between Europe and India now that the engagement is set for the next 20 years at every level by Leyen, Merz and Modi, so that the world is completely transformed in ways that can never be imagined today.  ...

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The place is Spain, see adjacent article on places within Spain. If you know Spanish that is an added advantage to talk to the locals. It has changed over the years. In the 1990's one could go to Madrid and freely walk out of the Puerta de Atocha main train station there with little traffic. Over the years after the financial crisis Madrid and Spain suffered. Under PM Pedro it has recovered. Yet it is not the same with international tourism from China, India, US having made visits crowded and less friendly. There is the garbage can index for tourism that tells you something is wrong when garbage cans are overflowing- it happened as tourism jumped to France in the last 2 decades- with garbage overflowing outside Notre Dame before renovation. (After 1993 Japan removed all garbage cans from streets.) About 100 million tourist visited France in 2024 and 80 million to Spain. It brings $100 billion in tourism receipts to Spain and about $80 billion each for France and UK, so that it is a key source of revenue for countries. How to make trips that avoid the rush - careful planning for season and month, finding the right places depending on one's interests nature, history, science, or other, and avoiding tours as there are plenty of resources to do it on one's own, finding right places to stay and visit, using local transport, tram and speed trains in Europe, giving enough time for each place, talking to locals and taking a lesson on Rocket languages online which uses locals and practices word pronunciation so you sound like a local. ...

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Report from Smart Ageing Summit at Oxford 2026. It rejects the notion common in society that physical decline is inevitable with age. It puts the responsibility of good health on healthy living which means about 80% of the responsibility is on each one of us to maintain good health. Things that are important says this report are completely abstain from alcohol, avoid processed foods (what RFK Jr is telling us as Health Secretary), prioritize sleep, cultivating a "not-meat" mindset, not eating after 6.30 pm. Other studies such as the Oxford Population Health with half a million UK participants show environmental exposures and healthy living habits have far greater importance than biological ageing and inherited genetics. Which also supports this conclusion that it is upto each one of us to build a better quality of life as we age. We assume here that the society we live in is healthy and there are no natural disasters such as climate change or human made disasters such as wars and conflicts, human exacerbation disasters such as not investing in healthcare, education and infrastructure for good public services such as transportation, parks and recreation. Yet that cannot be taken for granted and it is also important for our own healthy living and our spiritual health to invest some of our time and put our money into making sure that this investment takes place in building a healthy society and environment to live in. We do this in our civic life, as parents at parent teacher meetings, as custodians of the environment, being active in our neighborhoods, in business practices, and in supporting and monitoring investments in education and healthcare for our communities. ...

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US president DJT on the craziness of UK, China, Japan, India getting their oil and gas from Hormuz Straits after frequent disruptions over 40 years. And expecting US to keep lanes open, expecting the US to do this alone when US is self sufficient and exports oil and gas in 2026. UK, China, Japan and India does not want a wider war, US also does not want a wider war, and has asked these countries to stop shopping for the best price and find alternative sources of oil and gas for many years. China and Japan get 90% of their oil from the Hormuz Straits region- the US president is asking does that even make sense? Are they doing this because it is cheaper, ignoring the other costs, and the hidden costs of unreliable supplies to the poorest countries paying $125-150 a barrel? Germany has set a better example for these countries to follow getting only 6% of its oil and gas from the Hormuz Straits and being far ahead in renewable energy. China and Japan, South Korea are oblivious of all that has happened, the disruptions in supplies of the last 40 years, and have made no serious effort to find alternative sources and supplies. Whatever happens in coming weeks Mr President DJT has a point. Even more so as the MAGA base has insisted on a focus on domestic policy and problems, the Biden base also had the same desire to focus on domestic policy and problems. Nothing should divert from this focus, particularly the needs of countries that have not made changes in energy policy and logistics they should have a long time back. ...

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Hundreds of professors in UC university system in math, science and engineering protest removal of the standardized testing for college in California by Governor Newsom. After social justice movements misread what promotes and what doesnt the removal of standardized testing ACT/SAT tests by Governor Newsom is leading to a major disaster- as the number of unprepared students who need remedial help has increased 30 fold. The consequences are dire for the future of science and technology in America says the protest letter by hundreds of UC faculty-  “longer pathways through prerequisite material, reduced readiness for advanced coursework, and growing pressure to dilute quantitative rigor," for University of California system with 200,000 students — educating a huge section of the engineers in America’s universities.  "We now observe preparation gaps so severe that instructors must reteach middle-school mathematics.” “The SAT/ACT mathematics requirement is not an obstacle to equity; rather, it is a prerequisite for it. Failing to measure preparation gaps does not remove barriers; it moves them into the classroom, where they become harder to overcome.” Other points are that stanrdized tests are even more important in the severe grade inflation in 2026, and add AI-assisted application essays. The Washington Post says these are crusades for equity done the wrong way hurting the very students they are designed to help because the time to fix the problem is in the middle and high schools, after that it is impossible and leaves students no path forward. This experiment has failed and is a warning for other crusades for equity on "false pretenses," says The Washington Post. ...

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Mr. Zelensky of Ukraine makes his first official visit to Warsaw, Poland in April 2023. He was welcomed in Poland with an outpouring of support. About 10 million Ukrainians have crossed into Poland since the war began in February 2022. Of this 1.5 million Ukrainians have settled in Ukraine, the rest have gone to neighboring countries or returned to Ukraine. Poland has also opened its market to Ukrainian grain causing unrest among farmers because of lower prices. Poland has a population of 38 million, Ukraine a population of 43 million. These two nations are now the countries that are in the frontlines of the war after Russia's invasion. Other countries that have seen Soviet invasion such as Finland in 1939, Czech Republic in 1968, are now part of the NATO alliance force that faces Russia across a long common border. The Finnish border with Russia stretches for 830 miles through vast forested regions. The US is building a vast warehouse complex in Warsaw that will store US and NATO tanks. As the war continues a year later the resolve of the US and of Ukraine and Poland remain undiminished to the Russian invasion. This is unlike the events of post 1945 when Europe as a whole had seen the effects of 5 years of war and America faced the Soviet expansion into war ravaged Eastern Germany, Poland, Hungary, Czechoslovakia, and Greece. In 2023 the economies of the US and European Union have survived the economic effects of the war and the US is embarking on a huge plan to rebuild its infrastructure and its manufacturing capacity. The US and European Union through NATO remain united to reject any nation changing borders with impunity by force- the issue they see in Ukraine and in Taiwan. On the issue of Taiwan the US, EU are joined by Japan, Australia, Philippines, Vietnam and India. The issue of impunity and allowing borders to be changed by force will remain a strong one for the US and EU, on which there may be little room for concessions because of the principle. In his History of Europe- The Struggle for Supremacy 1453 to the Present, Cambridge historian Brendan Simms has shown that no nation by itself or with its allies has been able to use its dominant position to exercize power with impunity without meeting formidable combined opposition of other countries  in Europe. Over 500 years of history France, Russia, Austria-Hungary, have in turn had to agree to give up claims after meeting a formidable opposition of other countries in Europe. This Russian invasion does not appear to be any different.  ...

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How a small Kansas town of Grinnell in America finds a way to deal with the rural-urban divide and covid anxiety generated in the tumultuous years of 2020-2021, is the subject with pictures of this report in the WSJ. Grinnell is heartland America and its residents find a way to set Kansas and America in the right direction. One one side some resident worried they would end up like Minneapolis or Portland with protesters. An incident of drivers along Highway 70 emptying shelves of toilet paper in neighborhood stores is seen negatively by some  Grinnell residents and leads to forming an Emergency Preparedness Group to prevent outside agitators from creating problems. Others like the Enlightened Ladies Group try to calm things down. Gene Tilton, 84, and his son 63 years, whose family arrived in Kansas in 1880's did'nt see the need for forming some sort of vigilante group. He raises cattle and crops on a 10,000 acre farm. Michael Machen who practiced medicine in Gove County for 35 years also felt the same way and believed law enforcement could tackle the problem if there was one. Sheriff Mesch attended the Gove County emergency Preparedness Group public meeting by invitation in January 2021. This about the time when the Capitol in Washington DC was stormed by protesters and the country was divided after the election. At that time after 19 months of coronavirus deaths, racial unrest and political violence America was on edge, communities all over America were struggling with the idea that the immediate threat they faced was from other Americans not foreign adversaries. The sheriff told everyone at the Emergency Preparedness Group's public meeting where he stood- law enforcement could handle any threat and he didn't anticpate anything his deputies could not handle. He told the Emergency Preparedness Group that he appreciated their sentiment though, if he needed help he would ask, yet concluded that is the only way. From that rebuff by the sheriff the Group paused its activity and shifted its message to offering to help anyone deal with the deep cold spell in February, to cope with snow, tornadoes, fires, rattlesnake bites and similar hazards. They sponsored first aid classes, and a "Homesteader Gardening Class." Soon their idea was "we're here to help people, the last thing we want is for people to be uncomfortable." "Gove County" says Don Tilton, "has moved on." So must America today. ...

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European Union countries, Britain and the US face the risk of a resurgence of coronavirus through the Delta variant and other variants. The Delta variant detected in India is 40% to 80% more transmissible than the Alpha variant detected in the UK, with the Alpha variant 50% more transmissible than the original coronavirus that originated in Wuhan.    Virologists in Italy feel they are flying blind at this time because of the lack of genetic sequencing in Italy, Spain, France and across most European Union countries. The UK has done genetic sequencing on 27% of recent covid positive tests. The figure drops to 1% for Italy and is tiny for most of the EU countries including Spain and France. Without genetic sequencing it is hard to predict and take steps. Another problem in the EU is that the southern economies Spain, Portugal, Greece, Italy, Croatia are dependent on summer tourism for the economy. The UK economy can handle a delay to a full opening for 6 weeks without serious impact to the economy, says WSJ. Southern European economies can afford only short delays to full reopening. Croatia acted as a door to spread of coronavirus into central Europe when Germans and Austrians went to vacation spots in Croatia in summer 2020. This situation could be happening again in 2020 with British and other tourists visiting vacation areas in Portugal, and Germans visiting Greece and other summer tourism spots. Portugal's national health institute says the Delta variant represents 60% of new cases in the area around Lisbon based on early data. The government of Portugal is facing criticism for letting a Champions League soccer final to take place in Porto, Portugal between two English teams. Thousands of English fans watched the game at the stadium. Other problems are in relaxing of mask rules in France and Italy, last week in France and in the coming week in Italy. French nightclubs open July 9 without mask requirement. Germany is maintaining some social distancing measures and this includes mandating medical masks in closed public spaces and on public transport. Half of French, Italians, Germans are vaccinated and quarter fully vaccinated. Yet the gaps of unvaccinated people is large enough to cause serious concern of another wave. The relaxation of mask rules- the entire stadium in Budapest was packed for a recent game between Hungary and Italy for a soccer Euro 2021 game with no masks to be seen. Stadiums played a key role for the spread of the original coronavirus in Italy with a game in Bergamo, Italy, in the area near Milan. All this makes health officials concerned about the risks of still another wave of the coronavirus.   ...

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After the German election the next election in France in 2022 will provide new direction for Europe. As in Germany with Olaf Scolz of the Social Democrats, in France an alternative is emerging with Xavier Bertrand of the Les Republicains. Like Scholz Bertrand was Labor Minister working to tackle difficult problems of increasing employment in the French economy going back a decade. In recent elections the party French president Emmanuel Macron created as a member of Francois Hollande's government has floundered. Macron hastily put together the En Marche in Amiens on April 16, 2017, when he was minister of Economy, Industry and Digital Affairs in the government of president Hollande. During the eight year period in which the centre right Christian Democrats CDU and center left Social Democrats SPD had ruled in a coalition government in Germany some version of centrist politics and government had also prevailed in France. After the Sarkozy years 2007-2012 under the centre right Les Republicains party  France turning to the centre left Socialists under Francois Hollande. As a young minister 39 years Macron lacked experience, and the initial enthusiasm that helped him win the 2017 presidential election is now missing. As in Germany voters are looking for change not just in slogans but in substance in a new Trans Atlantic partnership of US, Germany and France to tackle the may problems that were neglected in the last two decades of changing administrations in US and France and the Merkel administration in Germany- problems of social cohesion, of income inequality, division of country into rural and urban, eastern and western in Germany, southern and northern in the US, neglect of infrastructure, and failure to invest in the future.  France is now turning to the Les Republicains party in recent elections, and away from Le Pen's far right party and Macron's party.  Both Macron and Le Pen did very poorly in recent regional elections. This report in FR24 points out that the candidate for the Les Republicains party will be chosen at a convention, and not at a primary as happened in 2017 leading to the elimination of former Republicains president Nicholas Sarkozy. The president of the Haute France regional council Xavier Bertrand is the leading candidate from the regional election results. Bertrand was Sarkozy's minister of Labor and Solidarity from 2007 to 2009, and Minister of Labor, Employment and Health in 2009. Today Olaf Scholz, winner of the German elections in September 2021 was also Minister of Labor- in the Social Democrats/ Greens government under Gerhard Schroeder 1998 to 2005. Voters now realize that it is important to value experience, stability, combined with humility and a determination to get things done, compared to charismatic leaders with little to show in results, and tangible improvements in the quality of life, in national renewal.      ...

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Batters Kohli against Australia and Sharma with Rahul against New Zealand, with the help of spinners Chakravarty and Kuldeep set India on the path to win Champions Trophy cricket games in 2025.

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52 to 48 US Senate vote confirms Tulsi Gabbard as Intelligence Chief in Feb 2025. And the vote to confirm RFK Jr at Health and Human Services moves to the US Senate.

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Hedge funds had negative return of 3% on average in 2015, according to research firm HFR Inc. Analysts say many things went wrong for hedge funds in 2015. By comparison the S&P 500 return for 2015 was 1.4%, including dividends. Hedge funds charge high fees to pension funds and institutional investors for the higher returns promised. Historically this is 2% of assets under management and 20% of any profits. Which means pension funds that stuck with hedge funds did poorly on this portion of their portfolio. California's pension fund CALPERS made the decision to remove hedge funds investments from its portfolio in 2015. Hedge funds have not performed as well as the S&P 500 since the 2008 crisis for every year except 2011.

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Shinjiro Koizumi 44 years, and Sanae Takaichi 64 years, contending for leadership of LDP and prime minister in Japan in September 2025, as prime minister Shigeru Ishiba resigns. LDP in Japan faces problems from aging voter base and Japan's voter shifts to nationalist parties. Ishiba faced problems rallying voters as the LDP was seen as having mostly older faces, trade issues with the US, and the cost of living economic security issues.

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The Commerce Department reports U.S. annualized growth was a low of 0.7% in the 4th quarter of 2015. Growth in the U.S. economy was 2.4% for 2015, growth was 2.4% in 2014, and 1.5% in 2013.

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Democratic states face a sobering reality- can California, Minnesota, Illinois afford it? It turns out that they cannot and are diverting important funds away from the Nation's priorities in transportation, housing, education, rural healthcare. Here is what happened-- When California Gov. Newsom used state's Medicaid budget for poor citizens and disabled for illegal migrants to give free coverage, Medi-Cal went $6.2 billion over budget in 2025. In Illinois the program for Medicaid coverge to illegal migrants estimated at $112 million annually now costs $800 million and parts of it are now suspended. California had not thought this thing through, with free medical coverage not available to even citizens of the US, why would unrestricted borders not overwhelm a border state's Medicaid system signed into law by a Texan president Lyndon Johnson for the people of this Nation. Democratic States are running into a logical fallacy that the European Union and Germany are already experiencing, stretching straining public services, which has nothing to do with one's sentiments. Gov. Newsom now wants to give this benefit for $100 monthly premiums in 2027. ...