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WSJ Original article ›
YouTube Original article ›
The Indian Express Original article ›
The Guardian Original article ›
NYTimes.com Original article ›
LyrArc Article Gist
Cecilia Wang is herself a birthright citizen from parents on student visas from Taiwan hence her views reflect her position before the the Court on DJT Executive Order.  She says the admission of Wang Kim in an 1898 case to US citizenship is a 128 American tradition when history shows very little sentiment in the American public and in the US Congress favoring legal immigration of any form from Asia (Japan, China and India). In fact a deal made by Teddy Roosevelt with Japan included an understanding with the Japanese government in the 1900's that Japan would restrict immigration from Japan to the US. Throughout the period 1850-1960 for 110 years one finds very little immigration of Asians to the US- mostly European selectively in phases after 1900 by steamboat as can be seen at the Smithsonian museum exhibits in Washington DC. Thus the Court is taking up a narrative that was never true. It was only JFK and LBJ who changed this by the 1960's- if one reads JFK and his grasp of the events in Indonesia, India, of Asia in WWII from his experiences as a soldier in the Asia Pacific region- not as the narrative suggests as an extension of civil rights for Black people, but for a deep respect and understanding of Asian people's aspirations that he opened up immigration to the US in the 1960's for Asians. This is why it is a stretch of the imagination for Cecilia Wang to say- Cecilia Wang -"your ancestors could be on the Mayflower or be undocumented immigrants but you and I are exactly the same as US citizens." Even after 60 years of reading the speeches and writing of Washington, Jefferson, Lincoln, TR and FDR, JFK, of Carl Sandburg's volumes of Lincoln, the poetry of America of Walt Whitman, committing Robert Frost poems to memory, there is more a sense of humility and even greater earnest  desire to learn about this Nation, and of the scientific endeavors of Europe since 1600 that eluded Asia, than making statements about the first voyages and the people who ventured out on the Mayflower. One has to look with awe at the sculptures in Geneva, Switzerland, of these brave people in the 1600's who for religious and other reasons made their way in difficult voyages over the Atlantic to America, much less say were the same as them. It is more about honoring JFK's words in appreciation of his opening for Asia, on thinking more about what you can do for your country than what your country can do for you. ...
Wall Street Journal Original article ›
LyrArc Article Gist
GM's cost cutting side may help it reach profitability but its revenue side is weak as it has lower margins on the cars and fuel efficient vehicles that are selling today. Will it continue to lose market share? Recently its stock price has been going up but curves lie ahead because the declining housing market means sales may be sluggish and there is fierce competition from the Japanese and Koreans and from its US rivals.
Wall Street Journal Original article ›
LyrArc Article Gist
GM's 38.96 billion loss in the third quarter 2007. It includes a $38.6 billion charge related to write down of tax credits and does not affect GM's cash position. But GM had a loss even before the writedown. Among the causes of this are subprime home loan losses of its former financing unit GMAC, and declining sales in the USA and Europe, and unfavorable exchange rates with the euro and Canadian dollar.
WSJ Original article ›
LyrArc Article Gist
Greg Ip of the WSJ cautions about thinking that the GDP growth of 3% is likely to be achieved with the Trump plan for a corporate tax rate of 15%. He says evidence from Britain and Canada- Britain reducing the tax rate from 30% in 2007 to 19% today, and Canada from 28% in 2000 to 21% in 2004- is disappointing. In Britain the increase in GDP averaged about 0.1% a year. Business investment increases with cut in corporate taxes, and the U.S. corporate tax rate is higher than other advanced countries such as Germany, yet GDP growth includes other factors, such as the business cycle, demographics, productivity growth, aging, technology, regulation, says Ip. It is better if the tax cuts are spread broadly over the population, and tax cuts are offset to a greater extent by savings in other areas, and that tax cuts promote productivity boosting investment, to create enough of a surge in growth above 2%.

Wall Street Journal Original article ›
LyrArc Article Gist
Holman Jenkins makes some good points as the auto companies in Detroit look for government rescue. He suggests dumping CAFE altogether if Congress is serious about conservation, a gas tax would be the only intellectually honest thing to do. In the light of falling gas prices in November 2008 with $1.98 a gallon in Michigan and across the country, how will demand for hybrids and the Chevy Volt at $40,000 fare? Its hard to tell but some serious thinking about energy and automobiles is in order. Congressional mandates have a tendency to have poor consequences as Holman mentions, because of the loopholes in the mandates like the fuel mileage rules that allowed fleet averages, loopholes Detroit automakers used to lead the trucks and SUV boom to coverup hidden problems for so long. Some of these had to do with the UAW's insistence on rules and benefits and things like the Jobs Banks that were obsolete in a age of globalized manufacturing and unequal playing fields with the Japanese and Koreans in mostly unuionized factories in the southern United States. Some of them with lack of effort, vision and innovation by Detroit car companies to make the fuel efficient technologies to reduce costly fuel imports, and the failure to bridge the union management divide that has been there all the time in the postwar period skewing decisions and leading to obsolete behaviours. Holman sees nationalization of the auto companies as the only possibility given the car companies history and failures, with or without bankruptcy. Even then he does not see them becoming competitive without good leadership and right policies in running the companies and honest policy at the government level, and courage to get a firm grip on reality. ...
Wall Street Journal Original article ›

Stimulus Package Unveiled

Wall Street Journal Original article ›
LyrArc Article Gist
Details of the $825 billion stimulus plan. Renewable energy does well under the plan including production tax credit for renewables, with $32 billion for a "smart" electrical grid for which GE makes components and lobbied for. Renewable energy producers win an extension of production tax credits now convertible into cash for companies whose losses leave them unable to use the credits. Transportation infrastructure green projects did not do so well, with $32 billion for transportation projects and only $10 billion for mass transit projects.The Natural Resources Defense Council had compiled a list of more than 80 environmentally friendly infrastructure and transportation projects worth about $405 billion. Only a small number of these projects made it. What is in the stimulus to create jobs and stimulate capital investment? Businesses get bonus depreciation, which speeds up depreciation deductions for companies that invest in plant and equipment. The stimulus doubles the amount small businesses can immediately write off for capital investments and purchasing new eqipment, and gives incentives for businesses to invest in renewable energy. States get help with $90 billion going to increase the federal share of Medicaid payments, and an additional $79 billion to help states avoid cutbacks in education and other services. And there is a "Make Work Pay" tax credit for $500 per worer and $1000 per couple. Experts say the effects of the stimulus will be felt in the latter part of 2009 and into 2010. Which is one reason the view of economists that there would be a second half recovery does not reflect conditions on the ground. Goldman has revised its view to 2010 and even that may be optimistic. One example of what has happened in the stimulus in this respect is that the earlier optimistic view of largeinvestments in science and technology, broadband networks, and transportation projects for fast rail and transit have all been trimmed down. Part of the reason may be that the bill for the nation's banking system revival may be larger than realized as an additional amount of $15-20 billion is being negotiated for Bank of America and more money will go to Citigroup. $6 billion is shown for highspeed internet access for rural and underserved areas. Science facilities get $10 billion. Repair of public infrastructure (read roads and bridges) gets $31 billion. School modernization gets $21 billion. And modernization of health information technology systems gets $20 billion which its hoped will provide equivalent or higher returns to pay for some of the universal health care costs, and preventative care gets $4 billion. There is a tax credit for R&D work on energy innovations and renewable energy production of $20 billion, and $32 billion for a "smart electricity grid." These are the proactive parts of the stimulus that create something new and make improvements. They add up to $144 billion. So much money goes to shore up the existing services and supplement incomes, and to relieve stresses on the banking system, and other ways to shore up the system, that the proactive expenditures are only a small fraction or 17% of the $825 billion stimulus. And all the time the federal deficit and debt increases with these huge outlays just to shore up the system. The Heritage Foundation Data Analysis Director Mr. Beach told Congressmen at a discussion chaired by Congressman Cantor (R), on January 16, 2009, that the federal debt would reach 92% of the nation's GDP in 2009 from 58 billion or 70% in 2008, with the $825 billion for stimulus. The federal deficit would go up to $1.31 trillion or 9.2% of GDP up from $541 billion in 2008. See the research paper on the Heritage website. ...
NYTimes.com Original article ›
LyrArc Article Gist
Ezra Klein in the NYT says Biden is more relevant to America's challenges and more effective today than ever before. The Biden today is very different he says than even the Biden of 2020, and clearly from the Biden of years as vice president. Biden has grown with experience and the changing situation in America, he has learned a lot over the years, has experience and connections with the US Congress that give him a rare sense of confidence to get things done. He also the authenticity that many Republican and Democrats lack, the topic for a recent column by Peggy Noonan in the WSJ. Noonan feels the announcement by Nikki Haley for the presidential candidacy was oddly stuck in the past as politics was done before 2023, which today is not acceptable after the pandemic and a world finding its bearings.  Biden was clear in the State of the Union. He could be himself and tackle the nation's problems from his own understanding and long experience, stating things as they are and how he sees the solutions being developed. It is alright not to have the perfect sentence, it is getting things done that America needs and expects. There is so much that America needs to get done and Biden looked vigorous and undaunted in the State of the Union address to Congress. ...
Wall Street Journal Original article ›
LyrArc Article Gist
When asked about gas prices and about inflation as well as about the recession Edward Lazear Chairman of the President's Council of Economic Advisors takes a rather laid back response. Unemployment Benefits extension - with the labor market at 4.8% unemployment he thinks the job market is still tight. On inflation he thinks food prices increases were specific to 2007 and that inflation is relatively under control even though he says inflation numbers at 4.3% for the past 12 months is higher than the average for the last couple of years. His reasoning is that core inflation is low and the increase in energy and food prices were idiosyncratic specific to 2007. But the higher prices of food appear to be here for the next couple of years worldwide as demand grows and better nutrition around the world and energy prices are still pushed by overseas demand that by Lazear's own views have not slackened. And prices are up in China pushing up prices of cheaper imports and prices at your local Walmart. So how is inflation relatively under control?...
The Wall Street Journal Original article ›
LyrArc Article Gist
Steven Press of the Stanford History Department says "buying Greenland is not a new idea."  Actually Denmark sold hubs in India to the British Empire, offered Greenland for sale to US in 1900's,  and US president Harry Truman offered $100 million in 1946 for Greenland because of it's strategic value in the Cold War. Then why are the EU countries sounding indignation. Denmark was a colonial power in India in the 19th century. Denmark was explored in its widest extent by Robert Peary in the 1880's who proved it was an island by reaching it's northernmost side. Peary advocated for Greenland to be part of the US and the Commanders in Chief all agreed in 1946 the island "was completely worthless to Denmark," yet was vital to the United States, to protect its eastern seaboard. DJT is hardly the first to say this even though the Europeans want to excoriate hime for doing so. In fact it was Secretary of State William Seward in 1867 who looked at acquiring Greenland, when he negotiated the purchase of Alaska from the Russian Empire. Alaska is a lot ,a lot better for natives compared to it being under Russia, and this would be true for Greenland than being under Denmark. Denmark's claim was not even accepted till 1921 with Norway disputing it.  Denmark had not explored the northern part of the country when Robert Peary reached it for the US Navy and claimed it for the US inthe 1880's. It can be said that for these reasons Denmark has little reason to be in Greenland except as a colonial power. Its claims are from 1814 Treaty of Kiel with Prussia. Denmark can hardly protect Greenland's vast shoreline with 6 dogsleds, and security less than the New York Police Department, from Russian and Chinese submarines and ships in the Arctic. The native Inuit population of Greenland has little in common with Denmark as a colonial power. About 60,000 Inuit origin native residents, in the whole island, most of them would fit into one or several American bases, Okinawa alone has 80,000 people. Who would have per capita incomes many times what they are today with better living conditions and standards of health and education, security and air transport under the US.    ...
Wall Street Journal Original article ›
LyrArc Article Gist
About 110,000 workers, or about 20% of the number of people retiring each year in France, will be able to retire at the age of 60 in 2013 under a new presidential decree. These are workers who started to work at the age of 18-19 and put in 41 years of contributions into the state run pension fund. The decree by French president Hollande leaves the Sarkozy reform of increasing the retirement age to 62 from 60 in place, but creates an exception for these workers, at a cost of 1 billion euros in 2013, and 3 billion euros in 2017. This could also be a way to get labor union support for public spending cuts to reduce the deficit which are expected.
The New York Times Original article ›
LyrArc Article Gist
David Barboza of NYT describes the hidden subsidies China gives to Foxconn for its plant in Zhengzhou, in a poor region of China. The factory there makes about half a million iPhones a day. These subsidies include incentive packages, infrastructure building, local government help of about $1.5 billion. As a result Apple has high margins. For a 32 gigabyte iPhone 7 that costs $400 to make, the retail price is about $649 in the U.S.  The hidden subsidies is why Apple can maintain dominance as profits are reinvested. And the result is that with only 12% of the smartphone market Apple can take in 90% of the profit, according to Strategy Analytics. Barboza looks back at Apple before co-founder Steve Jobs left in 1985 as focussing on manufacturing at plants in Colorado and California. By 2001 with iPod sales soaring the move to China under Cook, who previously worked for Compaq, was underway. With the introduction of the iPhone in 2007, the move to China for manufacturing accelerated. The reason: only China offered the kind of subsidies, the speed of approval and building of infrastructure facilities, the local government support, the hundreds of thousands of workers, and the best tooling engineers, to produce in huge volumes with speed, and maintaining quality levels. Earlier plants including one in Colorado Springs that this Lyrarc editor was invited to visit just prior to Jobs rejoining Apple had many quality problems, so much so that Apple had a large part of the manufactured personal computers set aside for rework. The quality levels were dismal, defects were unbelievably high. This is the Apple manufacturing process and plant that Jobs must have seen when he returned, and which he hired Cook to fix. Not only were costs higher in the U.S., (subsidies in China came later) when Jobs looked at the manufacturing quality and the inability to get the quality he needed from American workers and engineers at that time in the 1990's, only then did he turn to China- and the more he saw what was possible to accomplish there he sensed an unusual opportunity to finally put the ghosts of memories from competition with Microsoft at rest, and to surpass everything that had been done in Silicon Valley. The result one of the most ingenious and large manufacturing networks in the world, huge profits for an American company, except for one thing- it would not do much for American workers. ...
WSJ Original article ›
LyrArc Article Gist
Orange juice from Brazil, copper from Chile, electronics and pharma from India, and aircraft from EU, are part of broad exemptions in US tariffs plans. The exemptions are designed to give flexibility to US negotiators where it helps the US economy to import these items. 

This month negotiating teams from Japan, EU, South Korea and othere countries are trying to get exemptions for other items. BMW is seeking export rebates for exports of SUV's to EU from its US factories. And VW is seeking to use investments it says it will make in the US manufacturing as a way to get exemptions in tariffs or lower tariff rate similar to the way Apple has negotiated a tariff exemption for its Chinese exports to the US by saying it will invest $100 billion in the US manufacturing. US negotiators have to get the firm guarantees that these investments are going to be made.

mint Original article ›
LyrArc Article Gist
The Vikram lander and the Pragyan rover will separate from the main propulsion craft of Chandrayan 3 to go into circular orbit of the moon and begin a separate journey. to land on the moon August 23, 2023. This will put Vikram rover within 30 kilometres of the moon at the shortest distance and 100 kilometres at the longest distance. The final landing will be attempted by manoeuvres from this orbit by deboosting the craft. The trick will be to get the velocity down at 30 kilometres away to a safe speed for a landing below. Changing the orientation of the craft from horizontal to vertical is part of the manoeuvring planned by ISRO, the Indian Space organization.

Wall Street Journal Original article ›
Washington Post Original article ›
LyrArc Article Gist
News literacy programs that teach young people to read critically and help develop skills that encourage critical thinking. The focus is on school programs for middle and high school students. The News Literacy Project (NLP) has staff that includes 22 news organizations and 200 journalists who donate time to work with students. The Center for News Literacy (CNL) is a project at Stony Brook University, which sees news as "the oxygen of democracy." The projects teach young people how to find the truth behind the hype, propaganda, entertainment, and exaggeration in the daily news inside the the U.S. and from around the world. Pulitzer's words can be seen at the entrance to Columbia University's School of Journalism and on a U.S. postage stamp: "Our Republic and its press will rise and fall together." A sophisticated reader is critical for developing an insightful coverage of news and Pulitzer reminds us that the future of democracy and America depends on this.
Wall Street Journal Original article ›
LyrArc Article Gist
GM shares have fallen to $32 by April 2011, having dropped by 13.5%. Ford Motor shares have dropped by 9%. All automobile manufacturers have been affected by rising oil prices. And the government's plans to sell all of its GM shares this summer at a loss create additional uncertainty about the value of GM stock. A sense that the IPO roadshow for GM last summer may have oversold GM and created expectations that may not be fulfilled.
The New York Times Original article ›
LyrArc Article Gist
France's rail strike goes into its second day with large stations such as the Gare de Lyon deserted, stations empty, platforms deserted and millions of travelers unable to get to work. French unions are testing the French government's effort to change the generous benefits granted in a different era for rail and other workers. Workers at SNCF France's rail system can retire in their fifties even as workers now live longer lives, as early as at age 52.  Workers are hired for life. Pensions are given at the highest salaries and housing is subsidized. SNCF is $68 billion in debt. Costs are much higher to run the system than in Germany. The unions are intent on preserving these benefits from a different period.  This issue came up in the election debates about how the pension system can be put on a good basis with proper funding. Macron has taken a firm stand and the centrist parties in parliament see this as a symbolic fight to changing the future of French society and the economy. The reforms will raise age for pensions, and affects only future hires not the current ones. Yet the unions have chosen to fight this.  Everything depends on how the public and commuters see this. One sign of the changes this time compared to successful strikes by unions in the nineties is that the percentage of employees of SNCF declined on the second day from 33 percent to 29 percent. Polls show a small majority of the French sees the strike as unjustified and Macron's popularity ratings going up slightly. The prestige of the labor union CGT and its strategy is also at risk. Macron's view is that overprotected entities in the French system- the "Statutory Society" referring to the Statute of Railway Workers from a different era- block changes in social and economic life that would increase social mobility. This and France's future is being put to the test.   ...
WSJ Original article ›
LyrArc Article Gist
In a response to Mark Cuban about intelligent women around DJT Susie Wiles his co-campaign manager shares that she and Linda McMahon are two she can think of "Well, here we are." Very disciplined and to the point using just the right words, and getting her message across, Susie Wiles is a remarkable addition to DJT's team from the outset. She once worked for Reagan's political campaigns. Susie Wiles says- "You don’t have to shout to get noticed. I don’t want to be in the spotlight. I think it hampers your ability to be effective.” She comes from Florida and was introduced to DJT by a Republican lobbyist in 2015. She has handled Rick Scott's transition with Matt Gaetz, and also worked on the De Santis campaign in Florida. In 2016 and 2020 she has the remarkable achievement of turning Florida once a swing state into a core part of the Republican states in the southern US. Susie Wiles says- "You don’t have to shout to get noticed. I don’t want to be in the spotlight. I think it hampers your ability to be effective.” ...
The Hindu Original article ›
LyrArc Article Gist
Peter Hotex of Baylor Medicine in the US is a pioneer and leader in getting low cost traditional vaccines to billions in Africa, Asia and Latin America.  Here Peter Hotez of the Baylor College of Medicine Tropical School is interviewed in The Hindu. He talks about how the new mRNA vaccines are "shiny toys" pushed forward in the US in 2020 under innovation drives, and that the vaccines made by traditional methods are just as effective and provide lasting protection. Without vaccinating the entire world population including the billions of people living in Africa, Asia and Latin America, there will be no end in sight for the pandemic, he says, and the best way to do this is through vaccines made by traditional methods, methods used by Bharat Biotech for Covaxin and Biological E for its vaccine. He said mRNA is a brand new technology  and "it will take years to scale it up to make 9 billion doses" of vaccine for poor countries. Baylor has developed the vaccine technology using traditional methods such as yeast fermentation expression technology used for Recombiannt Hepatitis-B vaccine. Its been around for 40 years. Baylor will transfer the technology to Indonesia, India, Bangladesh, all over the world. He says in terms of virus neutralizing anti-body immune responses it is as effective as the mRNA vaccines. Hotez is critical of some pharma companies- "the rest of them want to bicker about patents. we're not going to go down that direction." Baylor is providing its technology for manufacture to companies to fill the need in poor countries, without patent protection or quibbling about legal things such as indemnities, says Hotez. Hotez also thing recombinant protein technologies vaccine with its traditional approach could also overcome vaccine hesitancy, a key factor for unvaccinated in Europe and US which have stuck to mRNA vaccines. The newer technology behind mRNA could make parents hesitate to vaccinate their children with these technologies, and also be a part of the mental attitude of unvaccinated adults having hesitancy.   ...
The Guardian Original article ›
LyrArc Article Gist
Lucie Castets, candidate for prime minister of the largest parliamentary group in the National Assembly of France, the NFP,  is interviewed in The Guardian. Kim Willsher interviews Lucie Castets at a cafe in the Marais district of Paris.  Castets says- “France is a rich country but people are getting increasingly poor, they don’t know if there’s going to be a teacher in front of their kids, they don’t know how long they’re going to wait in casualty if they break a leg, they don’t know how much their salary will be in a year. Who can accept that? Well apparently, Emmanuel Macron accepts that, but I think it’s unacceptable.” A government is needed in France for a budget to be passed by January 2025. A caretaker government of Macron's party cannot do this following its poor showing in the recent election. Macron refuses to let NFP form a government with outside support saying he was doing this for "institutional stability." Macron wants to see cuts of $25 billion. The NFP wants to spend $150 billion for the government to meet the needs of the people. It would like the US, recover most or all of this $150 billion from higher taxes for the ultra rich, and billionaires which would not affect 95% of the French people.  Castets says- Castets rejects the ideas this would be “impossible to apply or finance” and cost jobs. “We will finance each measure with new revenue, unlike the government. The accusation of economic irresponsibility irritates me because that’s not what we’re proposing at all. The NFP’s programme was heavily attacked on this aspect, so it’s important to say that these measures will only affect the ultra-rich. We want to correct flagrant tax injustices, with billionaires paying a lower percentage of tax than the middle classes.”   ...

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