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UK Sport, a British government body for investing in elite sport did 85 interviews with exceptional athletes. It found that exceptional athletic achievers all had some setbacks in life. The setbacks increased their motivation and were used for energizing by these athletes to try again. 

Setbacks were overcome and near miss individuals actually lived longer and won later because they persisted and tried again with enhanced motivation.

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Investors put in $136 billion into startup companies in 2018, and $141 billion in 2019, as reported in this WSJ article on startups. Before this it peaked at $75 billion in 2000 and did not recover after the 2009 financial crisis till 2014 when it reached about 75 billion dollars.  Much of the increase in money that did not go into infrastructure at low interest rates below zero appears to have been wasted as the ideas for startups declined in quality in the years 2014-2019. Softbank put up a Vision Fund which has run up billions of dollars in losses including a disastrous investment in WeWork. The resistance to shifting all the money at low interest rates to infrastructure has faded with the election of president Trump supported by a Republican party that puts the American worker first for job retention and expansion, and America first in world trade. The pandemic has changed the environment for startup companies as most startup companies are not likely to survive the environment they are in. The big ones such as Uber have built up losses, and ones such as Airbnb are borrowing $2 billion at 10 percent interest in emergency funding. Experience and sound thinking for investments were left behind as capital was wasted in many projects. The time has come to return to investments that have built the basis of the twentieth and twenty first century's advances in quality of life, in infrastructure and strong public services. ...

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Standard and Poor's changed its rating of U.S. Treasury securities from stable to negative. U.S. Treasury securites are still rated AAA. Moody's made no change in the rating. U.S gross debt as a percentage of GDP is 91.6%, with the comparable number for Germany at 80%, France 82%, Canada 84%, the UK at 77%, Japan 221%. The U.S. budget deficit as a percentage of GDP is 10.6%, the comparable number for Germany is 3.3%, France 7%, Canada 5.5%, the UK 10.4%. John Chambers, the head of the sovereign ratings committee at Standard & Poor's stated that "the sign of political gridlock was a key determinant in our outlook change." The budget deficit will go up to $1.5-$1.65 trillion, or over 10% of America's GDP in 2011. The gross debt for the U.S. is at $14.219 trillion, just short of the $14.294 trillion cap. With rising entitlement costs and the interest on debt this is expected to go over the debt ceiling as early as July 8, 2011. Again political gridlock and the divide between Republicans and Democrats about deficit reduction is causing concern about the delay in raising the debt ceiling....

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There is a clear warning in this WSJ report by Jonathan Weil of the opaque manner financial reports of some private equity are done, which take the lack of transparency in general of private equity funds to an astonishing level. One private equity fund gives information on some transactions in footnotes that run 3 pages- actually shown here. The report highlights the practice of private equity of buying funds on the secondary market at hugely discounted prices and marking them up immediately by upto 1000% to show large returns. How on earth are private equity funds not going to damage their reputations if they take up the task of investing the retirement funds of American's 401 K's. Historically these funds have been kept away from private equity. As their returns dwindle private equity funds including Blackstone are trying to get the US president DJT to allow private equity to manage retirement assets of ordinary Americans who can ill afford such investments.   ...

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The difference between US imports and exports is down from $418 billion in 2018 to $280 billion in last 12 months (August 2024 to July 2025) showing the impact of tariffs and policies of the DJT administration to level the playing field and for getting out of the trade deficits that hurt American jobs, workers, and communities. Tariffs of 20% for fentanyl issue and 125% made it 145% for import tariff on China after Liberation Day. These were lowered to 30% after trade talks. This where it stands today. 

The figure of $280 billion is higher because of transshipping by China through Vietnam- for transshipping the 20% tariff on Vietnam goes up to 40%. Another aspect of the figure of $280 billion is that it is last 12 months which reflects 5 months of the Biden administration, and the surge in imports before deadlines when DJT tariffs would come into place. Battery imports are up, smartphones, toys and apparel is down.

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This Editorial Board editorial in the WSJ should be titled Ukraine Corruption and Ukrainian people's interests in good governance. The reason is that beyond ensuring that the $187 billion sent by the US is used without corruption and this editorial cites evidence that this is the case through many oversight authorites US and EU has set up- there is the larger interest of the people of Ukraine battered and fatigued by 4 years of war. Corruption becomes an accepted practice in many democracies. Nations such as India that were mired in corrupt practices in state governments are seeing major changes in the last decade with public funds dedicated to infrastructure going to build the new infrastructure India needs to modernize its economy. It is proving that this is possible in Asia, as is shown in Taiwan, South Korea, Japan, China and now India. There is every reason to believe Ukraine can achieve this good governance with sufficient efforts and this is the goal set by the European Union, by Germany, Britain and France, for Ukraine. ...

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The good mix of rain and sunshine is leading to higher estimates for wheat production in US, Europe and Australia. Australian production is up by 3 million metric tons over last year. Russia is exporting more than it did last year by 80% in April and by about 25% in May through Black Sea ports. This is easing pressure on wheat prices which are down to $9 a bushel. Russia exports to countries in the Middle East. US production of wheat is expected to be 8% higher this year. 

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WSJ's Jon Emont shows how a combination of environmental activists, the fires in Indonesian rainforests in 2015- that at one point emitted as much carbon as the US hurting investment in Indonesia- and action taken by the Indonesian government to limit deforestation, have led to cleaning up supply of palm oil through deforestation. Maps show the deforestation that took place before 2015 and between 2015-2021, in Borneo and Sumatra, islands in the Indonesian chain. Opaque supplier connections to plantations all over the country made it difficult to trace the supply of oil from suppliers such as Wanda, KPN and others to Unilever for Dove soap, Mondelez for cookies, and other users of palm oil. It was the concerted and persistent effort of Greenpeace, the Indonesian government and of the companies that made it possible to clean up the supply chain. In 2018-2021 palm oil production increased by only 1%, compared to 22% for the period 2015-2018.

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No man steps into the same river twice, says Jack Shafer in Politico. Mr. Trump is not the same person, and Twitter under Musk is not the same site. Much has changed since 2016. Many of the debates of 2016 are a thing of the past, as the nation has learned from that period and is moving ahead in a new direction under the Biden economic plan- for an economy that works for working people and families. This is critical for the task of building an America that reduces the huge disparities in America that have built up after decades of outshoring factories and jobs. The task that Mr. Biden has taken up with federal investment with business in key industries, cost of living actions, building a modern infrastructure for the US, and efforts to raise income and wages of workers and their families. 

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Rates are falling all over Europe and in other countries Not since 1039 have rates reached 2% in the UK, eurozone rates down to 2.5% and Sweden down to 2%. ANd the Fed in te Us where rates are down to 1% is looking at unconventional measures to stimulate the economy including buying out delinquent mortgages.

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Oil prices at the pump for automobiles are declining for the seventh straight week. Prices declined to about $4. In Texas the average is about $3.67 a gallon. California has the highest gas prices at an average of $5.46 a gallon. The price decline is a result of rapidly slowing growth in China. China and India are still getting oil supplies from Russia which frees up oil supplies for the US to import. 

Public in the US is also cutting back on driving and the miles driven is likely to see a drop of 5-10% this summer. There is better planning of trips to combine errands. This helps combating climate change through conservation efforts that were neglected during the last decade.

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Apple's plans to make the new iPhone 14 in India. Its efforts to bring NPI or New Product Introduction processes to India so that new iPhones can be built in a short time. This would mean not replicating production processes existing in China but setting up new ones from scratch. About 95% of iPhones are made in China. Only about 7% in India by year end which Apple plans to increase to much higher levels by 2025, as some of the supply chain for Apple shifts to India from China. The Modi government is setting up new infrastructure and logistics centers in India to prepare for India becoming a key part of the supply chain for the US and the European Union.

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This story in WSJ says China may have a lead in electric car battery sales in 2024 and beyond. China is investing heavily in battery plants and EV plants in Europe and the US. This would help China meet the restrictions on import of electric vehicles from China by the Biden administration. CATL increased its market share in Europe from 10% to 24%. Sales of EV vehicles in China went up by 37% in the first 9 months of 2023, and China is the top exporter of electric vehicles. CATL's electric battery sales in Europe doubled compared to 60% for LG. And in excluding China sales CATL has caught up with LG both having 28% of the market.

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The US Airways and America West merger has not lived up to expectations. Both airlines operate together but are run practically separately and the employees feel that way, considering themselves on the east side or the west side. Not much of a merger, and President Dave Parker has failed to win labor confidence, not having signed labor contracts with his employees and operating under transitional arrangements.

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One Big Beautiful Act passed in US Senate with Vance casting tie breaking vote. It renews the tax cuts from DJT's first term in office in 2017 and provides tax cuts to seniors, middle class, and small business. It provides 100% expensing for business to increase investment. Mothers get child care credit that is doubled, senior citizens over 65 years get a $6000 deduction. The seniors deduction means 88% of seniors will now pay no taxes on social security benefits from 64%. Medicaid changes so that able bodied Americans will have to put in 80 hours of work to qualify.  Note that the Medicaid program was becoming unworkable and unsustainable- starting with the idea of helping people unable to work and transitioning those who could work, it jumped to $228 billion cost in 2000 from $28 billion in 1980, ten times over 20 years. Going up to $918 billion in 2024, 4 times the 2000 level. Medicaid is now 62% of what Social Security costs, $918 billion compared to $1480 billion for Social Security. ...

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Even with the best US effort heroin production increased to 9000 tons in Afghanistan says this report in The Economic Times. Indian coast guard and Gujarat anti-terrorist squad size large amounts of heroin at Mundra port and along the Porbandar coast.  Afghanistan has a 2000 kilometer border with Iran and another 2000 kilometer border with Pakistan. There is now increased risk of this activity along India and Sri Lanka's coastlines and borders, says the Economic Times. Much of the colonial period was marked by British traders use of opium from Bengal and other parts of India in illegal activities in China through Chinese ports for sale of opium -leading to the Opium wars in 1850 with China's feudal monarchy and eventually to China turning to the CCP. This was conducted under the British East India Company and condoned under the British Empire- making it one of the worst activities of colonial powers in history. Some of the same activities are being conducted and condoned by countries in the region. A multinational allied task force Combined Force 150 keeps track of the oceans in the North Arabian Sea and in the Horn of Africa. More naval forces are needed from India, the US, UK, Australia, Japan and other countries to keep the oceans safe and clear, and protect people in the region. ...

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Questions may relate more to how these situations affected the role of Gates and similar individuals in protecting the interests of the US, Europe, India, Latin America and Africa in health organizations such as the World Health Organization. As globalization spread governments in the West surrendered some of the essential role they played in world health organizations to individuals and NGO's, and countries lacking experience needed for such an important task. The mishandling of the pandemic is partly a result of this retreat by western governments from the role that they have played during the nineteenth and twentieth century. In the US letter to the WHO by president Trump the role of Gro Harlem Brundtland of Norway was shown in handling an earlier virus epidemic that originated in Asia so that it would not spread and could be controlled. This is the H1N1 crisis in 2003 cited in Mr. Trump's letter to the World Health Organization. Brundtland took strong action that was missing during this pandemic after the US and western nations surrendered the essential role they have played for centuries based on role in medical science discovery for maintaining public health. Surrendering this role or seeing it erode is one of the biggest mistakes of our time and a mistaken form of globalized behaviour. It is only now being corrected as the realization dawns on major nations such as US, UK, France, Japan, Russia, India and other countries about the essential stability provided by western nations knowledge, experience and resources to this task of maintaining global health. Even a nation like India has to base its role on hundred or more years of work in medical science and commitment to public health that transcends political preferences or national interest to take on and be a worthy participant with the advanced nations that have played so great and beneficial role for the world in public health. What to speak of transient interest of nations in the developing world or countries where national interest or political preferences play a part in public health of the peoples of the world. This responsibility for world's public health can never be delegated to individuals, foundations or any one country, or small countries, or a combination of these, only to the collective experience of the last 300 years in medical science discovery and the role of Europe including Russia, and the US in leading the way.  The Biden administration has the same underlying concerns as the Trump administration about this mishandling of the pandemic and the disasters that followed bringing so much death and suffering This excerpt on Brundtland of Norway is from the letter the US sent to the World Health Organization- "In 2003, in response to the outbreak of the Severe Acute Respiratory Syndrome (SARS) in China, Director-General Harlem Brundtland boldly declared the World Health Organization’s first emergency travel advisory in 55 years, recommending against travel to and from the disease epicenter in southern China. She also did not hesitate to criticize China for endangering global health by attempting to cover up the outbreak through its usual playbook of arresting whistleblowers and censoring media. Many lives could have been saved had you followed Dr. Brundtland’s example." ...

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Italian cooking in Italy- do's and don'ts for good Italian cooking. Food, agriculture around food is big in Italy. It adds up to $228 billion with huge export potential. Packaged product including pasta at $100 billion and about $136 billion for product consumed in restaurants and coffee shops. UNESCO has given its label to Italy as a top culinary place in the world.

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DW.com looks at the Sykes-Picot Agreement of 1917. Colonial powers Britain and France create artificial states of Iraq, Syria and Lebanon by 1921 out of the collapsed Ottoman Empire, that are unmanageable even in 2026 with mix of different Islamic sects at odds with each other. Danger being of US and Europe getting sucked into the mess of five decades of wars in the Middle East.

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SCOTUS decision on Voting Rights Act by knocking down gerrymandered district in Louisiana, April 2026. Republican States are redrawing their maps so that they are no longer gerrymandered (altered) to favor race or gender. The US Supreme Court supports this in Louisiana and this will mean 1 seat  in Louisiana and 4 seats in Florida may be gained by Republicans for the House in the midterms.

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How currency exchange rates are creating shifts in production from Europe into the US and further accelerating the changes in the automotive landscape. Now more German factories are planned by the likes of VW and BMW and their suppliers, and near their production bases in southern states which are non-unionized labor. BMW figures currency swings cost it about $900 million in earnings in 2006 due to the stronger euro. Both BMW and Mercedes see the stronger euro as a long term thing and are planning investments in the US based on this. BMW is expanding its Spartanburg , NC facility. In addition to the X3 SUV it will make the X5 and X6 SUVs there. And product from here will be exported back to Europe and other countries in addition to the US market. Mercedes had already expanded in Vance, Alabama before the pronounced currency swing for the euro. The Korean car makers Hyundai and Kia are facing similiar situation because of the stronger won. The weaker yen is creating a revert back to production in Japan in the case of Toyota and a halt to expansion in the USA, see the article on this recently. ...

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US health care is not working. In UK and Canada the sytem is regulated in a way doctors and hospitals work togerhter to keep costs down. This is not happening in the US. insurers and doctors are pitted against each other and patients are in the middle. Insurers are also running about 70% of self funded employer plans that pay insurers a fee and are the responsibility of employers. Insurers then cut costs and do this for employers. Sel funded means employers pay cost of claims insurers merely get a fee. Patients are caught in the middle between Insurers and doctors/hospitals. The insurers cutting costs overbilling Medicare and skimping on payments, doctors trying to overcharge. Christopher Whaley, an associate professor at Brown University’s School of Public Health says- “We have a system of whack-a-mole, with providers trying to get paid and insurers trying to constrain costs—patients are caught in the middle,”  Obama exchanges to get people covered never thought through to come up with a better system and is a Band Aid. At some point the whole system ought to be scrapped and one built from scratch and designed to work so that hospitals and doctors provide best service at lower costs.   ...

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EU Japan South Korea face serious negotiations ahead, regardless of ITT ruling on May 28, 2025 saying the president did not have emergency powers. The ruling does not apply to sector by sector action by DJT just not across the board tariff of 50%. And the ruling is being appealed.  Initial analysis is that this does nothing to affect the US president's other options to use other legal authorites and laws, conduct sector by sector investigations of harm done to the US in unfair trade, take action on sector by sector basis on steel, semiconductors, autos, pharmaceuticals.  Another factor is that all are allies, EU and India is dependent on US for security cooperation, and Japan, South Korea are entirely US dependent on security. Japan also has a past history of unfair trade practices and the prime minister senior officials both understand the US need to rebuild manufacturing, and support this. This is also true of the UK which has completed it's trade negotiations and deal with the US, and sees the ITT or other actions as an internal matter for the US people. ...