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The strange story of port authorites behaviour in Beirut for an incoming ship from Georgia on the Black Sea loaded with ammonium nitrate explosive materials- keeping the ship in port because it lacked the proper papers and because it was not fit to sail. If allowed to leave the ship would probably not caused an explosion in a congested port area. The mystery of the behaviour of port authorites extends to the next step where the port authorites actually unloaded the ship's explosives material to a port hangar warehousing area when there was no need to do so or no need to keep the ship in Beirut. waters as its actual destination was in Mozambique in the west coast of Africa.

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About half of American states went on lockdown including the largest New York and California, covering about 100 million people. Here is a state by state account of the measures taken by each state to limit movement outside the home to essential activity such as getting groceries from stores and medicine from pharmacies. In German states there is a fine of 2500 euros for violations and similar fines in other countries. Most American states have not resorted to specific fines for the lockdowns. Britain also has not specified a fine, but police enforcement will take place with possible fines and jail time for violations. Italy has a fine similar to Germany, with the public calling for stricter action. 

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Yale's Robert Shiller, founder of the of the Shiller-Case survey, says that he does not see a turning point in the housing market at this time, based on the 5000 mailed questionnaires he sends out each year. He says this is not visible and hard to conclude from the responses. He also describes the bubble thinking and behaviours he sees from the responses, especially how people extrapolate into the long term the short term gains being made. Nowhere in these responses does he see the term bubble being used by respondents, as if it never existed.

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The wars in Afghanistan and Iraq by one estimate have already cost 1 trillion dollars. By comparison World War II cost 4 trillion dollars in inflation adjusted dollars. The figures are from the Congressional Research Service, and show the pressures to control spending. The reason that civil society is not very disturbed even as these wars cost so much, is that so far these costs in 2008 for example were 1.2% of GDP, creating the danger that these wars can be carried out by a political leadership without the nation feeling the strains of the war. This may change with higher unemployment, and the feeling that not much is gained, that this money can be used in better ways to rebuild the US economy and infrastructure.

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Experts point out that Saudi oil price policies are set on a technocratic basis by a small group of advisors. An oil industry veteran Naimi, 79, leads this group of advisors. This means the new King Salman is likely to follow the same course as his predecessor King Abdullah. Gulf oil officials were expecting a drop to around $50 to $60 a barrel, the drop below $50 has surprised even the Saudis. NYT cites IMF estimates of a loss of oil revenues for Saudi Arabia and its allies in the Persian Gulf of about $300 billion in 2015. The Economist and WSJ reports say that for the long term shale oil production and advance in technologies are likely to play a lasting role in keeping oil prices low. At a time when Saudi society is changing, population growing, an older generation likely to transition to a younger generation in government, the cost of the social safety net and ample benefits will remain a concern for the Saudis for the long term.

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Good advice on how to get good sleep at night and a good nights rest. Set a good sleep routine that is relaxing, avoid work in the bedroom, a shower at night helps, create visual separation between work thoughts and sleep time, keep bedroom cool dark and quiet. Do not look at the clock at night. No food in middle of the night, if you wake up read a relaxing book for a bit, and fall back to sleep again.

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Reaction to Sheila Bair, chairwoman of FDIC 's proposal to help solve the mortgage and housing crisis. The Bush Administration and Treasury react coolly. The WSJ report indicated no legislation was required, but the NYT report here says the program would require legislation. In Congress Barney Frank who has a bill of his own to help homeowners says this shows the Bush administration was not doing enough. his concern with the FDIC proposal is that it gives the money directly to lenders.

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Lost in media reporting the net US exports increase of 5% as US asserted it's position as a leading exporter in 2025 has boosted second quarter US GDP growth to 3%. 

In tariff negotiations  and the agreements with European Union and Japan US has asserted it's position as a leading exporting nation, a position it held since the 1920's that was neglected through the ineptitude of previous presidents.

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Toyota projects net income for fiscal year ending March 2014 of 1.9 trillion yen or about $18.8 billion, exceeding combined earnings of GM, Ford and Chrysler.

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A very useful video from DW.com on how not to bring the virus contamination from grocery stores and supermarkets, shopping areas, into ones homes. It gives 7 useful tips that can help one manage this risk.

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Expert views that the G-7 meetings in Cornwall and the Carbis Bay pledges were not adequate in providing financing for climate change goals. Climate finance falls far short of the $100 billion planned by 2020.

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South Korea is adopting the international aging system as the standard where on the day a child is born it is at year zero not 1 year old by the traditional system in South Korea.

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Navdeep Puri, India's former ambassador to Egypt, discusses the importance of India's relationship with the United Arab Emirates and particularly its relationship with the leaders of Abu Dhabi. Indian prime minister Modi has visited UAE 3 times and has built a close relationship with Mohammed bin Zayed (MBZ). Interviews with MBZ in the NYT and indepth articles show that MBZ is a different leader in this part of the Arab world who has inbuilt in his nature both old Arab values and tradition that he respects with the modern world that he saw in Britain, and is simply striking out for a different path that sees modernity in the British way as a way forward for the entire region. MBZ is also seen as a mentor for Mohamad bin Salman of the Saudi country. MBS is also striking out  for a different path for the region. Saudis are financing development agenda for Egypt by helping rescue the Egyptian economy with investment and assistance at a critical time of the pandemic. This also extends to aid and assistance to Turkey. For MBZ and MBS the British approach to modernity and the American approach to modernity, with science, technology and both respecting and modernizing traditional ways, offer a way forward for the entire Gulf region. When these countries look around them they see India as also striking out in the same or similar direction. Both Arab and Indian traditions are being seen in a respectful way, without ever losing sight of the development goals and fully accepting the modernity that Britain has brought not just to Asia but long before that to Europe and the US. This may be the true foundation of the new relationship of the Gulf region with India - seeking a common path to modernity and development for all the people of their countries after the failures of the last 75 years. ...

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"The whites are here to stay," a line in a paper prepared by Kissinger set the policies of the Nixon administration supporting Apartheid in Africa. NYT in this report on Kissinger points to his involvement of the US in the Angolan civil war on the side of South Africa as he did not understand the popularity of liberation movements. Kissinger was steeped in the Austrian and German politics of his original home country Germany from the Napoleonic period to 1914 covering Metternich in Austria-Hungary and Bismarck in Germany. He also failed to grasp the popularity of liberation movements in Indochina. As a result of these policies many many hundreds of thousands of lives were lost, which cannot be said of Secretaries of State before him. Jefferson, Madison and Adams, and Seward for Abraham Lincoln, Elihu Root for Teddy Roosevelt, Cordell Hull for FDR, George Marshall and Dean Acheson for Harry Truman, John Foster Dulles for Eisenhower, George Shultz for Reagan. Kissinger served only for 3 years and the lives lost are incredibly large. We think of Geroge Marshall and the Marshall Plan that rebuilt post war Europe, Seward's role with Lincoln in the Civil War, and Cordell Hull's fight for freedom of Asian countries including India under Gandhi.  And we can see why there are such strong opinions for Kissinger almost seeing Kissinger as a Napoleonic figure where power faced the hundreds of thousands of lives lost with complete indifference. There is the opening to China yet this happened simply because as a coincidence of events in China in 1970 after the Great Proletarian Cultural Revolution led to Lin Piao incident and China seeking a connection to the US more than Kissinger's own policy or plans. David Sanger's account of his conversation with Kissinger simply says he just "shut up and took notes."  ...

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In this interview with Herndon of the NYT Bernie Sanders refutes the labels "progressive" or "left" and says it is simply about policy that benefits the workers and families that make up the vast majority of this Nation. Sanders says 60% of workers are living from paycheck to paycheck. The vast majority of people 60-70% support Medicare for All, improvements in Social Security, cutting pharmaceutical costs, and tution support to make higher education accessible to all. Why he asks do workers support Trump? He says it is because the truth is that the Democratic party has abandoned its roots. He does not go into this, yet it can be said that the rise of the Tech industry in the last two decades has led to tech billionaires and business people coopting the Democratic party for their agenda. In the last year of the Obama administration it was evident that Rural America and people who represent rural America such as Agriculture Secretary Tom Vilsack of Iowa felt ignored while Obama spent more time with tech and internet business people. Former president Trump simply stepped into this void as Democrats failed to turn up for rural America. President Biden has turned things around by making Tom Vilsack an important part of his administrations with the president listening to  him and others speaking for rural America. The passion with which Senator Pat Schumer talked recently on CBS Face the Nation about bringing broadband to rural America shows how Biden and Harris, Harris and Walz see Rural America. This Democratic ticket is fighting for Rural America every step of the way to bring hope and a better life to Rural America. Sanders reminds people of FDR in 1936 after four years of fighting the Depression and improving lives there was so much that needed to be done. It is the same today and Sanders is wading into this fight with Harris and Walz in the same way as FDR did in 1936. ...

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Alan Meltzer is a respected voice on US Federal Reserve policies since the time Paul Volcker was Fed chairman He says the Bernanke Fed is making some serious policy mistakes. The first is concentrating on near term events, such as business response to Obama administration policies, over which it has little influence, while neglecting the long term consequences of its policies. The second is its effort to tackle unemployment by interpreting its mandate as a dual mandate of tackling both unemployment and inflation. By tackling one at a time, he says, the Fed is likely to fail totally. The US is unlikely to not feel the inflation that is going on around the world. By ignoring the changes in money supply growth the Fed is making another mistake. His advice is for the Fed to increase interest rates it controls to 1%, to signal that it is aware of inflation risks. Second, the Fed should annonce a specific, detailed plan explaining how it will reduce $900 billon of the $1 trillion banks continue to hold in excess of the legally required reserves. Third, the Fed should end QE II, the most recent round of treasury bond purchases. Meltzer says if the Fed waited for two more months in Nov 2010, it would have found that a double dip recession was not about to occcur and it could have held off from pursuing QE II. Meltzer emphasizes that slow growth and unemployment is not a monetary problem, because of the ample liquidity already in the financial system. Uncertainty about government policy and the future direction has been clarified by the election which will help put the economy back on track. Philadelphia Fed chairman expresses similiar views in other articles and an interview with O'Grady of WSJ....

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Six cities have rejected the Olympics, with Calgary in Canada being the last one. The problem with hosting the Olympics is how much it costs. Cost overruns are common. 20141 Sochi WInter Olympics estimated budget was $10 billion, in the end it cost $51 billion. 

Brazil is the latest example of the problem. With huge needs in sanitation, epidemic prevention, infrastructure and public services, the country did badly by spending money on new soccer stadiums in the northeast which were not used after the World Cup soccer championship, and in the summer Olympics. 

Learning from these lessons voters in Calgary, Canada, rejected hosting  the Winter Olympics. Voters or local councils in Innsbruck, Austria, Rome, Italy, Bern, Switzerland, Hamburg, Germany, Oslo and Stockholm have rejected the idea of hosting the Olympics. Other problems are the environmental impact with deforestation to create Olympic sites.

 

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Frank Rich of the NYT thinks Obama's problem is not the GOP which is losing public support very quickly as the CBS/New York TImes poll shows, or the mortgage rescue plan and the shaping of new priorities in his address to the joint session of Congress which have increased in popularity for a people nervous about the economy, but the increasing unpopularity of the banks and financial institutions. His plan for financial institutions lacks the clarity and direction of his other efforts, says Rich. And Geithner who was protegeof the old boys Greenspan, Rubin and Summers who got the country into this disaster, is not the man who can convince the people. Therein lies the President's problem. He has chosen these people to come up with the solution to the banking crisis, and he has to sell this hugely unpopular solution with his advisors too timid and too complicit in the origins of this problem, that they have not been able to craft an effective plan. And the people who run these banking institutions are still running these institutions, and the people who run these auto companies are still running these auto companies, something that is hugely unpopular with the people as the CBS/New York Times poll shows. Only a new management, a new board, and a fresh clean beginning, and a convincing plan, would convince the people that another big bailout of $750 billion in banking "asset purchases" on top of the previous $700 billion bailout is going to work....

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Britain to lead coalition efforts in Strait of Hormuz- in the 1950's this part of the world was still part of the British Empire. Britain was the dominant power in Iran in 1900 and was also dominant in Turkey for a period after the First War in 1918 in Turkey. With the collapse of the Ottoman Empire Britain and France assumed a stewardship role over what is now Israel, Iraq, Syria. Only after the rise of Ataturk in Turkey in the 1930's were there independence movements and anti-monarchial movements in the region. Ataturk was an avowed modernizer who Europeanized Turkey, that was not so with the anti-monarchial movements in Iraq, Syria, which led to a great deal of unheavals and the wars we know today as Iraq war, Afghan war, Iran war. In Iraq and Syria it was a form of Soviet Communist/ Socialist  style movements that took power, and in Iran it came in the form of a religious movement based on Shia Islam that by the 1990's clashed with the socialist movements in Iraq and Syria. Syria and Iraq disintegrated costing the US dearly in resources and men, and the Afghan wars hurt both the Soviets (Russia) and the US. The Iran war may be the last of these wars as the US and Europe, and Russian Europe, China, India and Japan, close this chapter in their interactions to a region that is impervious to the kind of modernization that started in 17th century Europe with the Renaissance, in 18th and 19th century Europe with the Scientific Revolution, and in 20th century Europe with the Industrial Revolution, that was fervently desired in Russia, Japan, China and India as these ideas spread over western and southern Asia like wild fire and were adopted as emancipating and with a sense of wonder by the Asian people as their own.  The world may soon decide it can do without Hormuz. China Japan, and India can secure alternative supplies of oil from US and Russia, and ramp up their production of renewable energy to make Hormuz redundant by 2030 and- history. Germany already has shown the way - getting only 6% of imports of energy from that region. ...

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Krugman points out that a centrist solution is not the panacea it sounds. A lot depends on what it is and what is seen as centrist, if it really is centrist, and if it makes sense. A centrist proposal that leaves out tax expenditures but is different from the positions staked out by the factions on both sides of the political spectrum, and sounds moderate may not be the right solution.

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Friedman describes what he has seen on a road trip across America from Indiana to Tennessee. He says he sees both declining communities and thriving communities, that Trump is only half right about failing communities. He says the prescription of Trump is 100% wrong, as the thriving communities do not need a strong leader at the top, but leadership at local levels coming together, at schools, businesses, community foundations, civic groups, all working bottom up not top down.

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$2000 rebate to all Americans to help meet cost of living concerns is put forward by the US president. This would put the tariffs revenue to good use to achieve the goal of bringing back manufacturing and supply chains to the US using tariff policy. This is to counter other nations use of subsidies and other ways to put American manufacturers out of business in industry after industry for 30 years by pricing way below US producers. The rebate would offset the domestic effects on US consumers of products imported with tariffs, which are priced somewhat  higher because of the tariff even though most of the tariff is borne by exporters. The end result is the goal of bringing the product manufacturing for these products back to America, where manufacturing was shipped overseas through the shortsighted behavior of American producers since 1990, mostly to China. The WSJ takes no responsibility for this behavior of American corporations, and does not see this complete dependence of the US on overseas supply chains as a threat to America being able to conduct and independent policy for the Nation based on its own interests. For 30 years the WSJ and American economics profession has adopted the view that it does not matter if product after product is made in another country, or in only one other country as is the case with China as the sole manufacturing superpower in 2025. Who made China the manufacturing super power? Who ignored warnings of concentration of manufacturing in one place? It is these same economists and media such as the WSJ that have through their willingness to ignore these concerns even when it comes to advanced technologies that has made China the superpower in manufacturing it is in 2025. DJT and most of America is fighting a battle to bring these supply chains back to America knowing this is best for America and the American people. It is owing to this new spirit that once mighty industrial towns that had fallen to new lows are making a resurgence in the US- an example is in today's Washington Post report by Irina Ivanova with the title- An Old Manufacturing City sputters back to life, Nov. 11 2025. ...

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Spain's Opposition PP party wins 7 million votes compared to Socialists in government winning 6.3 million. PP party won an absolute majority in the Madrid area which means it does not depend on the far right Vox party. Spain's prime minister Pedro Sanchez and Socialist leader calls for a snap general election on July 23.

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India's 945 million voters today compares with 174 million in 1951, and 214 million in 1962. Not till 1962 was election turnout at over 50%. In 2014 and 2019 election turnout was at 66%. The Election Commission of India wants to see turnout at 75% by helping migrants and youth to vote. 

 

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Sel-awareness, what it is and how it can help one build on reflection that happens when one slows down not going on at the fast pace of today's life. It gets one to know how ones actions are perceived by others, how to develop the humility to see oneself and others in ways that improves social interactions.