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Sergio Marchionne, CEO of Chrysler Group, is known to take personal responsibility for getting it right for the small details of quality of Chrysler cars. When one test showed a defective door handle for a revamped Dodge Charger engineers reported on the status of the fix every couple of hours to Marchionne. He believes that if one wants to run the business right one has to get involved at this level. Marchionne has 23 people reporting to him at Chrysler and 25 more at Fiat in Italy. For Marchionne this has helped the two companies to work closely. Chrysler under Marchionne has spent $1.1 billion on revampig 14 models which are now in production. This was the only way to boost sales, as customers did not want the old models. His way to judge the performance of the revamped 2011 Jeep Grand Cherokee was to drive it 3,500 miles through Quebec, New Brunswick and New England.

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How the right approach and attitude can turn a disability into something neutral or positive to lead normal and productive careers and working lives. Stephan Turnipseed is president of Lego Education North America. He describes his disability called Tourette's syndrome, and how he is helping children K-12 learn using different techniques with Lego blocks.

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Community Aging in Place: Advancing Better Living for Elders, has been here since 2009, it is offered in about 65 places across 26 states. in the US. It helps people 60 and up stay in their homes such as Chikao Tsubaki 87 years shown here in the Washington Post. It brings a repair worker into the home to figure out how to make it safer for falls, in addition to an occupational therapist and a nurse. Center for Disease Control and Prevention says these falls contribute to deaths of 41,000 older Americans each year and cost Medicare $50 billion. Yet this report in The Washington Post shows Medicare does not cover it, and most private insurance plans do not grasp the idea of keeping people healthy in good settings, paying only when people fall, doing little to prevent the falls. Sarah Szanton is a nurse practitioner who worked with older Americans in home settings in West Baltimore and started CAPABLE in 2009, and is now Dean of the John Hopkins University School of Nursing. In it the client and care team work together to do problem solving and brainstorming. One study shows $20,000 in savings a year for Medicare continuing for 2 years person after one CAPABLE intervention. ...

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Seen in a larger context, the Biden tax pledge seen from the southern and midwestern and less well off states is not about taxes, it is about federal revenues that build the infrastructure and services in these states that increase the standard of living. This happened in the 1930's and 1940's under FDR and Truman, in the 1950's under Eisenhower, in the 1960's under Kennedy/LBJ. And is happening again under Biden today. Lets not forget that president John F. Kennedy says in his speeches that these regions in America in the 1860's under Lincoln were in development close to what prevailed in the 1960's in India, Ceylon, Chile, Turkey or China. The Biden pledge not to increase taxes on anyone making less than $400,000 is significant because it grasps the situation in America where extraordinary gains in wealth since 1980 have gone only some of it to the top 1-2% in midwestern states and southern states, and most of it to the top 3-5% in coastal states population in the east and west, New York and California, where the finance and tech industry are based. In Michigan and Wisconsin only 2% of households make more than $400,000, in Pennsylvania, Nevada, Arizona and Florida 3%. WSJ shows a map of the US showing this for individual states. The core southern states have 2% of households with incomes over $400,000- including Arkansas, Tennessee, South Carolina, Alabama, Louisiana, Oklahoma, with Mississippi less than 1%. It is only segregation in the late 1960's and culture issues such as abortion that have turned them from Democratic states to Republican states as they were the largest beneficiaries of taxes diverted into investment in these places since FDR/Truman and John Kennedy/LBJ. It was JFK who came up with the phrase "a rising tide lifts all boats" when he opened federally funded projects in Arkansas. Seen objectively the large investments made under Lincoln, FDR/Truman, Kennedy/LBJ from tax revenues are what changed this region from conditions that prevailed in less developed countries that John Kennedy points out in his speeches, true for the midwest, parts of the west, and the southern states alike.  President Kennedy said on Feb. 25, 1963 to the American Bankers Association Symposium on Economic Growth: "Today, many Americans tend to think of developing underdeveloped countries in terms only of faraway nations. But in 1863, even measured by 1963 dollars, our own per capita income--and this should be a source of encouragement to many who are laboring with the problem of underdevelopment in far-off countries--our own per capita income was less than $1 a day, approximately the same as Chile's. Nearly 60 percent of our labor force was engaged in agriculture, the same percentage as is today engaged in the Philippines. An estimated 20 percent of our population was illiterate, the same percentage of the population of Ceylon. Only one-fifth of our 34 million people lived in towns or cities of over 5,000 in population, as is roughly true now of Turkey. In 1863, this Nation had fewer railroad tracks laid than India has today, and its children had a shorter life expectancy than a child born this year in Thailand or Zanzibar."   ...

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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.   ...

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When it comes to the wars in the Middle East Biden showed courage in "doing the right thing," even if it would cost him. Biden pulled America from wars in the Middle East that DJT had laid the ground work for by setting up that goal and taking action. Obama by contrast lacked the courage, and would not take any risks to his reelection effort. Biden in one term proved to be a transformative president in ways that Obama never even comes close, by building on the wave of support for rebuilding infrastructure that DJT had created in his first term. In ways that were unpredictable but real it could be said that DJT anticipated Biden and Biden anticipated DJT's efforts to get America out of wars that were never really in America's interest and started under the Reagan and Bush administrations continued through the Obama years. In the same way DJT anticipated Biden on rebuilding infrastructure and Biden anticipated DJT in action on the US Border and shutting down fentanyl flows from Mexico and China by getting Republican Senator Lankford to write up the legislation on the Border. This is also why president Biden can welcome DJT at the White House on the day of the Inauguration Jan 20 knowing both worked for the best interests of the Nation, and in the end listened to each other. ...

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Wow!!! While the rest of the industry was busy building large vehicles and trucks and SUV's Honda invested 16 million dollars and its time in developing a hydrogen cell capable of powering a car to get 60 miles per hour acceleration in 9 seconds, and speeds upto 100 miles per hour, cut the size of the fuel cell to 150 punds and the size of a box shaped desktop PC, and giving the fuel cell 280 miles on one fillup, almost similar to a gasoline car. What is different is the cleanness, no polluting exhaust and 74 miles per gallon. Only 200 will be built initially, but a production line and mass production is the goal Honda is working on. Already the fuel cells are built on a production line resembling a semiconducor factory, and Honda aims to bring the cost of production down to $100,000 in 10 years or sooner. The nice thing about hydrogen fuel cell cars is that there are no byproducts generated except water and heat. It works by the fuel cell combining hydrogen with oxygen from ordinary air to make electricity....

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Agatha Sangma, at 28, is the youngest member of Parliament in India. Se was reelected from the Tura constituency in Meghalaya,, in India's northeast. She is minister of state for rural development in the newly elected Congress coalition government. Her father PA Sangma was a speaker in the Lok Sabha, India's Parliament. In India's system the cabinet minister has the biggest chunk of work and under him comes the minister of state. But considering how big the rural economy is in India, at over 40% of GDP and growing fast from a low base, its aposition of great responsibility for ayoung woman. Here she talks to Jyoti Malhotra of the WSJ. She is responsible for drinking water and sanitation. Access to drinking water, contamination of water, and water supplies for agriculture are a huge challenge for India. Agatha has studied environmental management in the UK, so she can bring knowledge of modern methods for managing water to her job. She likes to be responsible for implementing work in the rural areas, and has the youth and energy to travel and see things first hand for implementation. She says accountability is important for implementation and out in the field she can observe and ask questions. One of the problems she shees in implementation is properly using the funds allocated. This fund alone is 62,000 crores. And seeing that these funds are properly allocated and spent to generate the best use of the resources is critical for improving lives and meeting the needs for rural development. She sees room for experimenting, for innovation and bringing fresh ideas to this job. She seems to handle the interview questions quite well....

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Rolf Wetzer, a German metal working factory manager reflects feelings widespread in Germany. He says, we work hard and save our money, and he can't see why Germans have to throw money at countries that cannot do the same. There is considerable negative feeling about the bailout of Greece, because it is seen as brought about by the excessive spending, public corruption, and irresponsible accounting that went on in Greece. There is less negative feeling about the bailout of Ireland, as the Irish are seen as an industrious people, and the crisis was brought upon Ireland by Irish banks. Because of the negative feeling it will be much harder for Angela Merkel to go back to the German parliament for more funds, especially as her popularity has suffered. The existing fund will be stretched by the possible bailout of Portugal and Spain. Germany remains committed to the euro, but there is considerable anger about the bailouts. Germany has benefitted from the euro-zone through its exports, which jumped 31% in the last decade. Germany has a $105 billion trade surplus with the rest of Europe. At the same time there is fear that public opinion may turn against the euro. Thomas Mayer, chief economist at Deutsche Bank, says you can already feel it. Frank Schaeffer, a legislator for the Free Democrats, says that whether Germany needs the same currency as its neighbors is something he has doubts about....

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It goes beyond gun control. Arizona has taken the freedom to carry guns all the way back to the Wild West. High capacity ammunitions are legal. And this is why one person could fire 30 rounds into the crowd in Tucson, and only when he was trying to reload could somone disable him. Also you can carry guns to work and carry guns on college campuses, carry concealed weapons, and little effort is made to restrict someone with history of drug use or other offences by requiring identification checks. The ammunition in this shooting was purchased freely at a Wal-Mart in Tucson. Residents of Arizona seem to think it makes them safer as is evident from comments made by people of different political opinions. Rep. Giffords district also has a 104 mile border with Mexico, which is going through a spree of drug gang related violence. And the shift in the political landscape happened recently with a new Republican governor and the legislature going Republican with hardened attitudes on immigration issues....

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Academy Heights Elementary, of Pinehurst, N. Carolina, is expected to close as part of the cost cutting efforts in North Carolina. The state is trying to close a budget deficit. Monroe County's superintendent proposed closing the school to save $500,000. The school has a 98% pass rate on state exams, an award winning math program. It is ranked the second best kindergarden to 5th grade schools in North Carolina. Parents and teachers point out that many of the students come from middle class families where both parents are working, and military families from Fort Bragg, and this is not just the demographics of being near Pinehurst resort; as higher income parents tend to send their children to private schools. They point to the way staff, parents and students work to create an environment that challenges children to learn. The questions here remain ones that are being taken up throughout the country- how to invest or disinvest in education in the face of budget deficits. Should education take cuts and how much? Another twist here is that Academy Heights is in a depressed black neighborhood of Tarrytown whose residents go to to other schools even though Academy Heights urges students from Tarrytown to apply. It is an elementary school and as elementary education has a special role to play in early childhood development, how much of these cuts should fall on elementary schools? Should the best schools be cut under any circumstances or should they be supported with sacrifices made elsewhere or do moderately higher taxes make sense in these situations? Does it make sense to preserve existing excellent schools even as the search for improvement in educational systems takes place -with investments like the $290 million the Gates foundation is committing to improving selected schools? produce excellence in other schools?...

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An index for consumer prices for the U.S. was up only 0.8% for the 12 months of 2014, according to the Bureau of Labor Statistics. This is well below the U.S. central bank's target of 2% inflation. It creates uncertainty about whether the U.S. Fed will raise interest rates in 2015.

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It can be a bit overwhelming, time for a pause, to close the Borders in Europe and in US, to do it together as a Nation. Republican Senator Lankford and senior members of Congress   negotiated the legislation to restrict immigration and close the southern border. It would be signed into law in January 2024 by Biden says Lankford in NYT after 30 years of inaction. The negotiated bill came up 2 months later in March by which time it was stopped by Trump Republicans as an issue for the election. Harris promise is to sign it into law, close the Border. Meanwhile in Springfield Ohio, population of 80,000 in 1960 declined to 59,000 in 2020 dropping 25% over the 60 year period with the decline of the Rust belt towns in the midwestern region of the US. A program that protects people from gang related violence in home country legally allowed 15,000 Haitian immigrants to settle in the city, people who now drive Amazon delivery vehicles and work in nursing occupations and in restaurants, in towns that have severe staff shortages. WIth the influx of refugees from Venezuela at the southern border, this has created anti-immigration sentiment in some parts of America, even as some of the refugees work to fill shortages in traditionally Republican states such as Kansas, as shown in the WSJ, that have decline in population and face severe staff shortages for bus drivers, restaurant workers, and hospital workers. Streams of refugees in earlier eras the Irish, followed by the Germans, followed by Blacks from the South, all followed this path, yet it was also a bit overwhelming, and at these times the nation took a pause. Europe is taking a pause- across Denmark, Sweden, France, the UK- and in the US there is sentiment on all sides for a long pause, to regroup, to reflect and focus on the national goals of binging up the middle class, the lower income classes, and the nation as a whole after the distortions from tech and economic theory induced distortions hurt the working people and families, and hurt rural areas. ...

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Most Senators of both parties have worked with Senator Marco Rubio of Florida on the Senate Foreign Relations Committee, and have a very positive view of Rubio. Shaheen of New Hampshire, Kaine of Virgina, Duckworth of Illinois, Cornyn of Texas, Cruz of Texas, all welcomed Rubio's appointment as Secretary of State. Tammy Duckworth of Illinois even thanked Rubio for changing House rules so she could bring her new born daughter to the Senate for votes- Rubio had told her "What's the big deal?" This may be the best and most important appointment DJT has made considering how down to earth, courteous yet frank spoken Rubio has been in his work in the Senate and in talking to the public. Rubio told Cornyn about his concerns for US outbound investment hurting America. “At a minimum we should have insight into whether American investment dollars" are used for funding "activities designed to undermine the United States of America." In 2020 Rubio had poointed out how easily "Luckin Coffee" had raised money in US capital markets- it later went bankrupt. In other situations national security was involved but not considered in the proper way for outbound investment for two decades on Wall Street.   ...

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The Economist looks at the 3 options facing Britain and America to tackle the financial crisis, and evaluates each option for its merits. It says nationalization is an option, and adds that it supported the nationalization of Northern Rock in the UK early on. Where nationalization is the best option considering the scale of the problem, as in the case of RBS in the UK, this should be followed without exacerbating the problem by pretending that it can be avoided. With its huge losses and large committments by the government of Britain, the state ends up with majority ownership. So for individual banks this policy would be a good one. With the government on both sides of the table, this avoids the major problem of how to value the assets, and of the bank's shareholders plotting to grab taxpayer's money. Expect to hear more about nationalization as a best option under the circumstances, says the Economist. This may also be because the situation is likely to get much worse in 2010. The single most important criteria should be it says returning the individual bank to good health. The other option is to collect toxic assets in a bad bank, with the clean bank rid of these assets not having to set aside reserves for losses of an unknown magnitude. This helps get lending and credit starting to flow again if banks are more willing to lend. The third option is guarantees by the government regarding the bad assets and insurance. The Economist does not think the insurance and gurarantees offered by the British government recently will work by itself, and feels it should have been combined with the separation of toxic assets of banks in a bad bank. The Economist also feels scale will be needed considering the magnitude of the problem and its continual escalation....

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The effort by a community bank, Talmer Bank, to fill in for the lack of mortgage lending for certain neighborhoods in Detroit with abandoned or ransacked homes. Talmer Bank provides $25,000 loans so that these homes can be repaired and restored. Another agency helping in this work of renewal of these neighborhoods is the Detroit Land Bank Authority which auctions abandoned homes with bids starting at $1000. That agency was started in 2007 and is now making fresh efforts under Mayor Mike Duggan. This agency had in 2015 about 22,351 residential structures and 54,660 vacant lots in its inventory, one fifth of the land in the city. Between 1900-1950 Detroit's population grew to 1.85 million. Then by 2010 as the auto industry hit a downturn and residents departed from a declining city the population declined to 700,000. Other approaches taken by DLBA are to fix up abandoned homes and sell these properties sometimes at a loss, and to demolish homes that cannot be restored to raise property values in the neighborhood. Even here with scarce resources the DLBA has to pick and choose which neighborhoods have the best chance of recovery to invest resources....

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Nocera looks at the lack of efforts to help homeowners under water in the Obama administration. Sheila Bair comments on Geithner's role, as Geithner's book "Stress Test" provides little detail on how the Obama administration addressed the issue. A story by Dougherty in the WSJ on April 20, 2014, points out that about 10 million households in America are underwater in 2014, and another 10 million households have only 20% equity in their homes. Unemployment statistics in the same issue of the WSJ show 7 million people taking parttime jobs because they cannot find work. These households are critical for consumer spending to support growth. The weak economic recovery could very well be one of the results of poor policy decisions by the Obama administration including this one, when other alternatives proposed by Sheila Bair and Martin Feldstein were offered repeatedly in 2009-2010. Here Nocera documents the efforts by Senator Durbin to give homeowners rights to go to bankruptcy court to provide ways to negotiate ways out of foreclosure....

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Ed Gorman of The Times talks to British skipper Ben Ainslee before the Prada sailing competition. Ainslee is a four time Olympic gold medalist who is working with a new design for the boat Britannia that has problems in light winds. Much technical work on the boat has been done and Ainslee with his team hopes to turn things around in adverse conditions. The team is pulling together from this low point and hope to use the days of the competition and rest days to pull through.

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This report in the WSJ points to president Biden's speech to a joint session of the US Congress that providing two years of free community college would "change the dynamic" for education in America taking the first step to correct a dangerous drop in college enrollment for young men in America and ensuring working class families have access to college education. The last thirty years of skewed wealth distribution, loss of manufacturing in America, have created alarming distortions in  the access to college education for working class families. Mrs. Biden is a fervent advocate for community college access in today's America, as a community college teacher for 30 years. Biden's $45.5 billion 5 year plan would waive tution for 2 years of public community college. States would have to opt-in to participate, and federal government would provide 100% funding in the first year, decreasing contribution by 5% each subsequent year, with states picking up rest of the cost. It is quite shocking that this is being dropped from the Biden $3.6 trillion Families and Workers Plan that is now being whittled down to $2 trillion. Not because it is not badly needed for American economic competitiveness, and helping workers and families. But because following narrow parochial interests the National Association of Independent Colleges and Universities opposes it. And because the US Congress is evenly split between Democrats and Republicans 50-50 in the Senate. The Association of Independent Colleges sees a shift to community colleges and a sharp drop in its enrollment. Community colleges saw a dangerous drop in enrollment of 12% to 4.5 million students in 2020 from the spring of 2019, according to National Student Research Center. Never was a program more badly needed, as American men are alarmingly falling behind in enrollment. Here are some responses to the failure to take even the first steps to broaden college access so that America can return to economic competitiveness. "What kind of world do we want to live in?" Martha Kanter, College Promise. "That's kind of a devil's choice, isn't it? The whole system has to work from infant care all the way through." Senator Tina Smith, Democrat of Minnesota. This is because child care and children's education will be funded yet a struggling generation of college students will be left out. US Chamber of Commerce opposes a $45 billion program that is critical to American competitiveness with China and other countries. US Congress drops a program that at $45 billion is only about 2% of the $2 trillion package and which is critical to economic competitiveness. Former Republican Governor Bill Haslam of Tennessee supports community college access as a pillar of economic development and it passed the supermajority in 2014. Mike Krause, Republican former director of the state higher education commission says- "I have been surprised by the lack of enthusiasm for what is really a massive workforce development concept that also provides a path to the middle class. You'd think that would hold some appeal for Republicans and Democrats." The lack of clarity and concentration, lack of unity of purpose to get all vaccinated,  is visible in America's vaccination drive. That same lack of clarity and concentration, lack of unity of purpose, is visible in America's faltering efforts at correcting serious and alarming problems for access to college and American competitiveness in the world. Julie Bykowicz and Douglas Belkins wrote this article in the WSJ.   ...

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Election expert Karl Rove from the Republican Party goes over the math for the nomination for upcoming Republican primaries in New York, followed by primaries in Delaware, Maryland, Connecticut, Rhode Island, and Pennsylvania. He says the anti-Trump movement would still be in the lead at the end of these primaries. His figures are that Trump stands at 743 delegates on April 7, 2016, citing the Associated Press, and the non-Trump delegates at 897, ahead by 154 delegates. In New York primary of April 19 only 14 of the state's 95 delegates go to the winner, the rest are given three for each of 27 congressional districts. two to the winner and one for the second place finisher as long as the winner is less than 50% and the second place candidate has 20%. Delaware has 16 winner take all delegates, Connecticut and Maryland have 28 and 38 winner take all by congressional district, Rhode Island 19 proportionally. Interestingly Pennsylvania is cited by Rove as having only 14 statewide winner take all delegates, with 54 officially unbound congressional district delegates, contrary to popular impression that it is winner take all state wide. The elections in South and North Dakota, and Nebraska, give Cruz some of the delegate offset to control the gap in delegates between him and Trump created in the northeastern states. A factor in the race is also the change in the Cruz campaign made for Wisconsin where Cruz was able to win by 14 percentage points by expanding his message to Jobs, Opportunity and Growth from the social conservatism message that did not counter the Trump message to conservative and working class voters on the economy and trade. Another factor is women's vote trending away from Trump. ...

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Renault and Nissan will work with Mr Agassi to test electric cars in Israel on an experimental basis before developing its own electric cars from scratch by 2010.

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California's economy is going through tough times during the coronavirus. Unemployment is up to over 20% which compares to 14.7% for the U.S., closer to that of New York. The state depends on the tourism industry, agriculture in the San Joaquin Valley, and entertainment industry around Los Angeles for jobs. Tech in the San Jose area does not account for as many jobs. The state also has a public university system and foreign students mostly from China bringing in $7 billion.   Its port system around Long Beach and Los Angeles connects with the Asian economies and China, for goods mainly transported to the rest of the U.S.  All these sectors are the ones most badly hit during the coronavirus.  California now has a deficit of $54 billion and was the first state to borrow from the federal government to pay $13 billion in unemployment claims. Undocumented Californians are not able to collect unemployment because of their immigration status, creating an American version of the informal economy that is found in India and Italy or Spain. California has 83 million people taking plane trips to the state for a tourism industry that normally brings in $145 billion. 600,000 travel industry jobs were lost in the state. Taxes related to travel are a significant source of revenue for cities in California bringing in $12 billion. The only sector that is less affected is the tech industry, yet this makes up only about 10% of the jobs or 1.7 million higher paid but fewer jobs. This tech sector at about just 15% of the California economy GDP, is of a precarious nature with a boom bust pattern, the last boom one that happened since the 2009 financial crisis. It in no way forms a significant support for employment or income for people in California or the U.S., and may even be responsible for distortions in the allocation of capital away from infrastructure and public services, through its disproportionate influence on how the nation's capital is allocated. The broader changes underway during coronavirus are likely to affect the state over many years, as supply chains shift away from China, and as infrastructure and public services investment assume their rightful role again in the nation rebuilding effort, agriculture and rural America become a part of the American renewal story.   ...

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A study of the economies of the 100 largest metropolitan areas in the U.S. by the Brookings Institution suggests that states in the South may be facing a harder time recovering from high unemployment than the northeast and midwestern states. Of the ten states with the highest unemployment six are in the West and the South, including Nevada, California, and S. Carolina. Unemployment in S. Carolina is 11.1%. A researcher at the Federal Reserve Bank of Atlanta, says the better performance of the South in earlier years was driven by development and in-migration. This has abruptly ended. A Brookings Fellow, Howard Wial, suggests the possibility of California, Nevada, Arizona and Florida being depressed for a long time, while states in the Great Lakes region see a rebound. States and regions that are dependent on education, healthcare and energy, are doing better than others. In Pennsylvania, the Pittsburgh region with its emphasis on education and healthcare is doing better than Philadelphia. In New York, Buffalo and Rochester in the upstate region are doing better than the New York City metropolitan area. Areas around Akron and Youngstown in the rustbelt part of Ohio are recovering better than Tucson and Colorado Springs....

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Robert Doll, equity strategist for Black Rock, the world's largest money manager, says the growing population of the U.S. will drive economic growth in the next decade compared to Japan and Europe. He says that over the next two decades the U.S. work force will grow by 11%, Europe's will decline by 5%, and Japan's will decline by 17%. China's population growth will be only slightly more than that of the U.S. during that period and Doll expects China's growth to slow. He sees America as the best bet in a bad neighborhood. Higher immigration in the U.S. is a huge positive, as he points out economic growth is simply the product of the change in the size of the work force multiplied by its productivity. And America's productivity is good enough compared to other nations, is how Doll sees it. In 1995 the U.S. produced 25% of the world's goods and services, it was still 25% in 2010 says Doll. Other economists have pointed to this and observed a similiar pattern for most of the twentieth century. Doll sees this pattern continuing. India's population will show signficant growth and he sees greater opportunity there for long term investing. Doll sees a decoupling between U.S. stock markets and high unemployment. Most of the large U.S. companies generate a large portion of their sales and profits overseas. He estimates 40% of the business of these companies is overseas. Doll's estimate is for 70% of the incremental earnings growth of the S&P 500 companies coming from overseas markets. He also expects higher inflation with the Fed keeping it from getting out of control, and deficit cutting efforts to cut some trillions over the years. He sees favorable prospects for equities based on the money growth being strong and credit markets being good....

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ElBaradei's father was a president of the Egyptian Bar Association. ElBaradei studied for his law degree and doctorate at New York University and was an adjunct professor of law at NYU. He joined the UN and wasn not the choice of the Egyptian government for the position of head of the UN Atomic Energy Agency. He was a compromise candidate supported by the US. As a young diplomat in the Egyptian Foreign Ministry he was part of the team that negotiated the Camp David Peace Accords with Israel. Because of his background, a nuanced understanding of ElBaradei is necessary to understand his criticism of the Obama administration's hesitant support of the protests, and his statements saying Egypt's foreign policy was a failure. For his role in the future ElBaradei says, all I want to do is share and deliver this country to catch up with the rest of the world." To understand what this means for a backward country like Egypt with a growing population of 80 million of mostly young people, which has failed to keep pace with economic progress in other parts of the world, see the article by Henando de Soto. Soto describes his effort working on a project for reforms in Egypt from 1997-2004 with the support of members of the Egyptian cabinet and the US Agency of Intenational Development, which were blocked in a cabinet shakeup by interests wanting to preserve the status quo. Failure to grasp this central fact that alone among large developing countries Egypt has failed to deliver on the rising expectations in the developing world, makes it impossible to understand Egypt. This is why De Soto describes the situation in Egypt as Egypt's Econmic Apartheid. In New York City enjoyed his time in Greenwich village, going to the opera and Knicks basketball games....