LyrArc Article Gist
Wait 20 years or longer, no benefits only at the discretion of authorites, to cut the illegal crossings in small boats across the Channel. The tough action was withheld for way too long- as the Home Secretary says it is tearing England apart.

LyrArc Article Gist
Chile's new Constitution draft document of 499 pages scales back mining, decentralises power and grants social rights. Rewriting the Constitution was one of the demands of protests that lasted for months leading to the election of president Boric. After decades under a constitution written by Gen. Pinochet that favored mining companies and industry Chileans protested the way pensions were organized and the way Chile was run that neglected the working class and middle class families.

LyrArc Article Gist
Classic DJT letter to Japan. WSJ annotates the letter but its annotation does not say that Japan has used the relationship with the US to its advantage, putting the US companies and industries at a serious disadvantage since 1970's. US Trade Representative under DJT first term 2016-2020 was Robert Lighthizer. Lighthizer was Deputy Trade Representative under Reagan in the 1980's negotiating with a Japan that would concede little. 2024 USTR Jamieson Greer was Deputy Trade Representative under Lighthizer. The Letter starts setting the tone that we have borne Japan's unwillingness to negotiate fairly with patience, ends stating we are ready to act. "It is a Great Honor for me to send you this letter in that it demonstrates the strength and commitment of our Trading Relationship, and the fact that the United States of America has agreed to continue working with Japan, despite having a significant Trade Deficit with your great Country." "We have had years to discuss our Trading Relationship with Japan, and have concluded that we must move away ....Our relationship has been, unfortunately, far from Reciprocal...Goods transshipped to evade a higher Tariff....If for any reason you decide to raise your Tariffs..." ...

LyrArc Article Gist
Lehman used transactions called "window dressing" as a way to show that it was burdened with less debt than a correct accounting would show. This was done through Repo 105 transactions where the bank used repurchase agreements or repos- a form of short term borrowing that lets banks take on more trading risks. Lehman lowered the repo debt at the end of each fiscal quarter. The bankruptcy examiner's report shows that Lehman moved about $50 billion in assets off its balance sheet. Lehman labeled these transactions as securities sales instead of loans, to show investors that it was actually in better shape financially than it was in reality. This was done on a quarterly basis in 2007 and 2008, according to the bankruptcy examiner's report. The New York State Attoney General's office is investigating this and the role of the auditor Ernst and Young in approving this practice, which goes back to 2001.

LyrArc Article Gist
Hillary Clinton reminds voters that DOanld Trump lies repeatedly when he says he never supported the war in Iraq. She tells voters to look at "Donald Trump Iraq" in Google, and this report in the NYT says Google Trends show a spike in Google searces for this term significantly more than other searches. 

LyrArc Article Gist
With Ukraine unwilling to give up the Donbass and Germany/France/UK wanting to prevent Russian favored deal adverse for Europe, US focus on Monroe Doctrine and western hemisphere, Ukraine Russia war is likely to drag on. This is what one sees in Merz, Zelensky, Rubio speeches at the Munich Security conference. In 2026 Germany+ (that includes France and the UK) does not see it in the interests of Europe to allow a Ukraine capitulation to Russian attacks and Germany has already allocated funds to rebuild its military to prevent this from affecting Germany+ interests in Europe. Even though the winter attacks on Ukraine grid and electricity infrastructure leaves Kviv and other cities in a dire situation it appears that without the 20 year security guarantee or something solid Ukraine is not willing to sign an agreement which it fears Russia could turn around and start the war again. Germany+ which is the position of the major parties in Germany 60-70 % of voters for the SDP, CDU, Greens and others except AfD with 20-30% of voters. (AfD may have reached a ceiling as CDU under Merz is tough on migrants). Which means about 70% of Germans will support a policy of joining UK and France in resisting Russian attacks. Russia may have lost so much in manpower may see the war as a vindication only if it can hold onto the Donbass which may make it harder to reach a deal. Zelensky says Ukrainians live there and is unwilling to leave the Donbas region. The net result is that Germany+ and Ukraine are not likely to concede ground, the US reluctant to commit to 20 year security condition for Ukraine as it focuses energy on the western hemisphere and the fentanyl, drug traffickers in Mexico, Venezuela and Colombia, and their support structures in Cuba, in addition to Iran and China's plan on Taiwan sees limits to what it can do beyond limiting oil's funding the Russian attacks. It is amisrepresentation to say that the US is the cause, as everything changed the moment China became an industrial power with the help of US business interests and returned to its own story of being subject to British and Japanese incursions in the 19th and 20th centuries, and sensing that it is an industrial power in its own right by 2020 and insisting on framing its own policy in the world. Europe always had its own narrative since 1600 long before the US became an industrial power under Teddy Roosevelt in 1904. In that narrative which now plays out again different European powers band together to prevent any dominant power in Europe (Russia in 2026) from gaining dominance. ...

LyrArc Article Gist
President Obama's nationally televised speech on Sept. 10, 2013 about the need to keep the military option for strikes in Syria alive, and an acknowledgement of the war weariness of the U.S. after two wars in the Middle East and South Asia.

LyrArc Article Gist
Showing how short lived and misdirected were the efforts to use election wins to make the presidency all powerful under Gotabaya Rajapaksa, prime minister Wickremasinghe proposed an amendment to restore the powers of parliament in a parliamentary democracy. Sri Lanka stumbled badly into economic mismanagement with debt pileup and no action till it was too late without the checks and balances inherent in a parliamentary democracy. Prime minister Mahinda Rajapaksa resigned and with protests calling for the president Gotabaya Rajapaksa to resign, Mr. Wickremasinghe a four time former prime minister was brought back to lead the country out of the crisis. Mr. Wickremasinghe returned with an agreement with the president to restore the powers of parliament which were established since the independence of the country in 1948. Mr. Wickremasinghe has support of the western lending agencies and governments in US and Europe as he and an independent central bank governor Nandalal Weerasinghe with many years of experience working with the IMF seek a way out of the economic crisis. A level of transparency that was present in the early years after independence is being restored as the public suffers from energy shortages and 40% inflation. The foreign exchange reserves of Ceylon (Sri Lanka) were exhausted to the point that the country lacked the funds to let oil tankers in Colombo harbor unload oil and be paid for oil supplies. As a lack of oversight is being corrected Ceylonese are beginning to realize the costs of a unneeded war, wild swings in sentiment for and against parties, deconstructing parliamentary democracy and its checks and balances, corruption and economic mismanagement. ...

LyrArc Article Gist
Japan, this report shows was in a weak position and was willing to concede- its auto industry could absorb a 15% tariff but the rest of it's economy must be protected. Any economic weakness would be exposed and conditions mght deteriorate in the Japanese economy by letting things go past August 1 and steep tariffs. Luttnick's idea of investment fund was supported by Japan for investing $400-$550 billion in the US with 50% of profits going to the US. Earlier NYT report by Ana Swanson shows the American side of the deal where Howard Luttnick, with experience as a bond trader and on Wall Street, came up with the unconventional idea of an investment fund knowing that the LDP facing elections and  fearing loss of  its majority was unwilling to give DJT what he wanted on some trade issues. Japanese negotiators decided that giving some way on auto tariffs accepting a 15% flat tariff on auto imports was one way to accomodate the Americans and protect other Japanese industries exports from steep tariffs. One would not know this from reading the WSJ, but DJT with Luttnick, Bessent and Greer as negotiators with Akazawa and Ishiba of Japan have won a historic and significant win for America in creating a level playing field in trade. It also sets a precedent for all other trade deals.  ...

LyrArc Article Gist
How Walmart is taking sales from Best Buy and Circcuit city and changing the electronics retail market.

LyrArc Article Gist
The transformation of Fiat Auto. Marchionne relying on "my kids", getting good people throughout the Fiat global operations and outside of a younger generation, who were open to doing things in a new way. He had the courage to unassumingly go about the business of remaking Fiat, by removing middle and upper managers who produced a kind of paralysis or sclerosis in Fiat, making change impossible after years of a failed culture embedding itself. And in their place he brought in an energetic courageous bunch of younger managers and designers. It would be fair to say that he tore up the old plans, tore up the old organization charts, tore up the car plans and designs in the pipeline, tore up the failed models and put in place new ones- the Bravo for the Stilo, and tore up the old management, put in new people and tasks and wedded them in an informal way, with their own culture developing along the way. The were teams and their tasks, all wedded together in an informal arrangement, in close proximity, with informal communication. Marchionne saw his role as helping people reach decisions, setting stretch goals, and encouraging levels below him to take responsibility and make courageous decisions. He saw the Cinquicento as his version of the Apple iPod, and benchmarked Fiat against Apple, so he was looking outside the auto industry for people to emulate and for new ideas. He himself was from outside the auto industry. ...

LyrArc Article Gist
Denmark's efforts backfire on Greenland. EU leaders have failed to separate Denmark's actions as a former colonial power in which it acquired Greenland in the Treaty of Kiel 1813 with Sweden and England during the Napoleonic Wars. And EU leaders have bought into Danish views designed to maintain control of Greenland that talk of the tribal population of about 50,000 over an island the size of Canada- smaller than would fit into a baseball stadium- that is largely unpopulated because of the sheet of ice all year round in the Arctic region. Much of the North of Greenland was first explored by the US Navy under Admiral Perry in the 1890's. Denmark has done little to develop the island or improve lives for the native Inuit. Secretary of State Seward wanted Greenland during the Alaska Purchase 1867 and it was sought by the US in 1900's, again in 1947 for $100 million by US president Harry Truman. It is "unwise" as Secretary Bessent has said for EU leaders to accept the canard that this is somehow just DJT's idea, and ignore it is essential for US security, it is part of the Western Hemisphere to which the Monroe Doctrine applies, and climate change melting ice has made it critical for US policy to address this gap in US security for the eastern seaboard of the US. For Denmark it is as the US commmanders in chief stated in 1947- "completely useless." ...

LyrArc Article Gist
The high mobility small footprint and precision strike of the High Mobility Artillery Rocket System or HIMARS is shown here in the WSJ. It was supplies to Ukraine to defend itself and has stalled a Russian invasion in Donbas region, and led to retreat of Russian forces in the east Kharkiv region and in the south Kherson region war fronts. Additional 18 Himars are being given by US to Ukraine.

LyrArc Article Gist
Trump's doctor's letter was written by Dr. Bornstein. His father was Trump's doctor for many years. The letter Dr Bornstein says was written with language that is normally used by Trump, and not the kind of letter he is used to writing. Dr. Bornstein says he was rushed. The Trump limousine was waiting outside and he had 5 minutes to write the letter certifying to Trump's good health to be president of the U.S. Experts say the most noticeable thing about the letter is the hyperbole. They, including Sanjay Gupta, raise questions about the letter's hyperbole, that does not show the serious minded attitude and language that this kind of letter requires such as the words "astonishingly excellent." 

LyrArc Article Gist
A sense that president Putin may have seriously "miscalculated" the scale of Ukrainian resistance and that he may not be getting the right information from subordinates. The conflict does not appear to be in Russia's long term interest, making it weaker with western sanctions.

For EU the shift away from Russian oil supplies shifts to supplies from Qatar and other nations and use of LNG terminals. The US and EU will likely see a more effective shift to renewable energy after the Ukraine war. Increased funding for defense in US and EU and the funding for social goals with a wealth tax planned in the US.

China also sees an impact on its economy and long term growth with sharply reduced access to western technology and research, and restructuring of supply chains to be shorter and focus more on South and Southeast Asia, less on China.

LyrArc Article Gist
There is more ot it than just the monopolies crushing new competition and small firms in their space. The gatekeeper role for information that Google and other tech monopolies have is a danger for democracy in a way that the Rockefeller's monopoly of the oil business by Standard Oil never was at the turn of the previous century. TR took up the role of government ensuring that fair competition exists by breaking up the monopolies in the oil business at that time. Today this is left to the courts and they take far too long and come up with decisions that do not address the main probem points brought up by the US Justice Department. Judge Mehta after 5 years did little to address the problems of tech monopolies and it is now left to other remedies and other leadership to come up with ways to break up these monopolies.