LyrArc Article Gist
The Indian variant B.1.617.2 is beleived to be 50% more transmisable than the UK variant B.1.1.7 variant of the coronavirus. It is expected to be the dominant strain of coronavirus in the UK. The government has sent out the army to vaccinate populations in UK where this variant is widespread.

LyrArc Article Gist
Stephen Friedman's positions at Goldman Sachs and the New York Federal Reserve.

LyrArc Article Gist
An August survey by Japan's Ministry of Economy, Trade and Industry, shows 40% of the country's manufacturers saying they would shift production and R&D facilities overseas if the yen remains at 85 to the dollar. It has dropped below that. Nissan will make 71% of its cars overseas in 2010, compared to 66% in 2009. Murata Manufacturing plans to double its foreign output to 30% by March 2013. By buying Dutch printer maker Oce NV in March, Canon Inc., saw its overseas output jump to 48% for the first half of 2010. Toyota is on track to produce 57% of its output overseas in 2010 , compared to 48% in 1995. The popular Prius will now be built at a plant in Bangkok, Thailand. Sony did 20% of its television manufacturing in Japan in 2010, it is aiming to do 50% in 2011. As a result Sony showed a profit for the April-June quarter, after 6 straight years of losses. Its also important to note that when inflation is taken into account the yen has not strengthened the way it appears, which reduces domestic pressures to dampen the yen's rise. Tohru Sasaki, head of foreign-exchange research at J.P. Morgan Chase & Co. in Tokyo, says that in inflation-adjusted terms, the yen is 30% below the rate it reached in April 1995. U.S. consumer prices have risen by 69% since 1990, in Japan the prices rose only 8.5% during the same period. In inflation adjusted terms the April 1995 exchange rate of 80 yen to the dollar would be 56 yen to the dollar today. Japan's exporters can also benefit from the fact that a large part of Japanese trade is denominated in yen- according to Japan's Ministry of Finance 48% of exports to Asia were paid for in yen in 2009. Like China and Germany, Japan remains highly dependent on exports for growth- which provide two thirds of its growth. The yen's strength increases the outflow of production facilities. In July 2010, 10.3 millon workers were employed in manufacturing in Japan, down from 12 million in 2002. Japan's unemployment rate was 5.6% in 2009....

LyrArc Article Gist
The Even Hotels brand of IHG which operates Holiday Inns will focus on frequent travellers in the U.S. who want to keep their exercize routines. It will have fitness centers 3-4 times larger than existing ones, located right near the lobby, benches that can serve as exercize benches, a mat for exercize, bathrooms that let in natural light, cafe with healthy items on the menu. This segment is also being served by Courtyard Marriott, and Hilton Garden Inn. IHG will convert existing hotels and rooms with 100 hotels planned by 2015, the first opening in 2013.

LyrArc Article Gist
Jon Hilsenrath of WSJ provides an illuminating account of how Daniel Tarullo as head of the Large Institution Supervision Coordination Committee has changed the way bank supervision and rules are set for U.S. banks since the days of the 2008 financial crisis. Tarullo started the effort under Ben Bernanke and continues this in 2014-2015 under Fed chairwoman Janet Yellen. The New York Fed is seen as ineffective in bank supervision and the supervisory role is now entirely performed under the leadership of Tarullo, assisted by Kenneth Gibson and Timothy Clark. The trio are some of the great unsung heroes of the effort to put the U.S. financial system and the economy on a safer footing.

LyrArc Article Gist
Census data show that 41% of all Mexican Americans in New York city schools have dropped out of school. Of Mexican American immigrants ages 19-23 only 6% are enrolled in college. This becomes significant considering that Mexican Americans are the fastest growing large immigrant group in the city, numbering 183,200, up from 33,600 in 1990, according to Census figures. These figures are worse than that of the Mexican American population as a whole, because of higher rates of illegal immigration, lack of stability in households, parents holding multiple jobs and lacking knowledge of English or contact with the school. Many are not aware that illegal immigrants who graduate from high school in New York State or earn a G.E.D. are allowed to attend the state public university system and pay in-state tution.

LyrArc Article Gist
The election of Ekrem Imamoglu helps to keep Turkish democracy alive by offering voters an alternative to AKP PArty and Mr. Erdogan. Unlike other politicians from the CHP opposition Party, Mr. Imamoglu was able to reach out to mainstream voters in Istanbul, a city of 16 million, where Mr. Erdogan began his effort to offer an alternative in the Turkish politics of the time dominated by the military and the CHP. Imamoglu reaches out to pious AKP voters and to working class voters in a way that other CHP politicians have not. Imamoglu says " Lots of AKP voters asked me why I wasn't running for their party instead. They were pleased when I asked for their prayers rather than their votes. I don't believe the public accepts divisive rhetoric and discriminatory policies." About the populist sentiment that Erdogan aroused in Turkey during the last decade to provide more inclusive atmosphere, Imamoglu says- "Populism has the upper hand in the world at the moment but it will end eventually. Treating people with respect always wins out." Imamoglu's family is in the construction business and he entered politics in an effort to reduce the red tape facing business, and became mayor of the middle class district of Beylikduzu district in the 2014 elections. ...

LyrArc Article Gist
Three term Mayor Ed Korch of New York.

LyrArc Article Gist
Ramon Fernandez is the head of the Treasury in France's Ministry of the Economy, Finance and Industry. He manages the work done behind the scenes in the eurozone crisis- helping France's finance minister Baroin, French president Sarkozy, Xavier Musca, the presidents chief of staff, and working with his German counterpart Jorg Asmussen. He is self-effacing and says he does what he has to do. His view on the euro is that it will be there ten years from now and stronger.

LyrArc Article Gist
This WSJ report looks at the toll on mental health of men during the pandemic.

LyrArc Article Gist
How is Ceylon or Sri Lanka faring for the economy and the standard of living after the collapse in 2022-2023? Krishna Srinivasan the IMF Director Asia Pacific and Peter Breuer in Feb 22, 2024 report say there is light at the end of the tunnel. It shows a graph of where tax revenues had fallen to 9% of GDP making it impossible for the government to function and for essential imports to be financed. "Corruption, tax exemptions, and non-competitive procurement and allocation practices imply higher taxes and costs for everyone, hitting the most vulnerable hardest." This is where PM Modi has made a huge, huge difference in India. It also calls for prevention- "Prevention also requires providing a safe space for public engagement in governance." The British American concept of governance through elections has to be modified with emphasis on as Srinivasan and Beuer state correctly -creating a safe space for public engagement in governance. Only when the public and the young people of the country understand the basics of the economy and an educated informed mindset in created -as is the goal of Lyrarc.com- can the conditions be created for this good governance. This is true for India and is true for its neighbors Ceylon or Sri Lanka, Nepal, Bangladesh, Indonesia, with whom India has a long history of the closest relations. The rest of the report goes on to call for an end to corruption and inefficiency.         ...