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Raphael Glucksmann is emerging as a surprise for the Socialists just as Macron emerged out of the cabinet of Francois Hollande as leader of En Marche. Socialists and Democrats Alliance is the party group in the EU parliament that represents social democratic parties in Europe that govern in Germany, Denmark, Spain and are prominent in Sweden and France. Melenchon leads an alliance of socialist parties in France but has not done as well with moderates. Raphael Glucksmann is seen as a new voice for Socialists in France in upcoming elections. Migration has shaken up parties in Europe but this may be receding in importance as most of the socialist parties have shifted to strict policies to keep out migrants. This is happening in the US as Mr. Biden has closed the border with Mexico. Climate Change was an issue in elections helping the Greens in the last chancery election. As socialist parties and conservative parties adopt the Greens policies on climate this has reduced support for Greens from the peak in 2020. ...

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70% of the world's internet traffic goes through 6 miles of land in Ashburn, Virgina, that is called Data Center Alley. This part of northern Virginia is filled with data centers that generate tax revenue for local communities. Culpepper where 17 year old George Washington worked as a Surveyor in the 1740's is one of these counties with data centers. Nearby 90 miles from Washington DC is Rappahannock County, which has rejected this development and not increased its population of about 8000 people for decades. WSJ looks at this part of rural Virginia where civil war battles took place.

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Britian's Chancellor of the Exchequer, George Osborne, on the economic recovery in Britain. He points to total public spending under control, with it dropping from 45% when the Tories entered government to 36.4% in 2015. He also points to the drop in the unemployment rate and the economic plan to cut the remaining budget deficit and show a surplus. This puts Britain in the best position to spend more on defense, says Osborne. Osborne makes a commitment to spend 2% of national income on defense, and raise Britain's defensive and offensive capabilities. This includes buying 138 F35 aircraft from the U.S. manufactured in the U.S. and Britain, and a fleet of maritime patrol aircraft, increasing cybercapabilities by over 75%. It would be backed up by spending 0.7% of national income on overseas development to back hard power with soft power.

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A transcript of remarks by Ben Benrnake as Fed Governor on Dec. 9, 2003, at meeting of the Federal Open Market Comittee which makes monetary policy in the USA. Bernanke is teling his colleagues here that it would be amistake to choke off growth unnecessarily by raising rates, that critics who say inflation is a threat are not well informed, and that the Open Market Comittee should remain patient. Here he points out that the large decline in the share of the population that is working -with one survey showing household employment at 2.9 million jobs below normal at that time- suggesting that employment could rise significantly before seeing pressure on wages and unit labor costs. With the underutilization of labor, the withdrawal of people from the full time labor force, and increase in parttime employment, there are todfay anumber of changes ocurring in the labor markets that build additional slack into the system from what the unemployment rate of 9% today would suggest. A similiar case could be made today with factory capacity utilization at 68% and dropping, and manufacturing hard hit and seeing a permanent downsizing in industries like automobiles. What about raw materials prices? Bernanke shows agraph of historical data, that suggest convincingly he says, even very large movements of raw materials prices appear to have muted effects on intermediate goods prices and no discernible effects on final goods inflation. The reason for this is that raw materials prices are only asmall portion oftotal costs, and unit labor costs are a far larger factor in inflation determination that raw materials prices. And at that time as is happening today wage growth is slow or negative. What about the dollar falling in value making imports more expensive, which we face today? Here Bernanke says that asimilar anlysis applies to the dollar. Large movements of the dollar he says, translate into smaller movements against the U.S. trade-weighted basket of currencies, and into smaller effects on import prices because of imperfect pass-throughs. And he goes on to say that the nonoil import prices, in turn, are are a relatively modest part of the overall price index, making the ultimate effects quite small. This analysis by Bernanke of the impact of rising raw materials prices and falling dollar having a muted effect, and the important role slack and underutilization of labor in the labor markets play in inflation, helps respond to critics like Laffer and others who say inflation is a threat and call for changes in the policy course the Fed has set....

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Michelle Obama warns about complacency in the 2016 presidential election. She says Republicans are saying the election outcome is already predetermined to lower Democratic turnout from black people and millenial Democratic voters. In North Carolina president Obama won by one half of one percent in North Carolina in 2008 largely because of enthusiasm among black and younger voters. This enthusiasm and lack of complacency is critical said Michelle Obama to win this election, who is popular with these two groups, more than Mr. Obama and Mrs Clinton.

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As U.S. carmakers vehicle sales recover and the Japanese carmakers go through a slowdown as a result of disruptions from the earthquake, the U.S. and the Japanese carmakers find their situations reversed. Japanese carmakers are facing vehicle shortages in the U.S.. Detroit carmakers see the opportunity to make gains in market share during this period, till Toyota and Honda return to normal. Detroit carmakers have also been affected by the earthquake related supplier disruptions, but to a much smaller extent. Chrysler expects to produce 50,000 to 100,000 fewer vehicles as a result of disruptions, according to Marchionne. Chrysler, the weakest of the Detroit carmakers, has staged a recovery under Fiat's Marchionne. One hurdle was the high interest payments- $348 million in the first quarter of 2011- on the $7.5 billion borrowed from U.S. and Canadian governments. Chrysler increased revenue by 35% to $13.1 billion, with global sales of vehicles up 18% to 394,000, and profits of $116 million in the first quarter 2011. The market situation is still precarious for several reasons. Sales of pickup trucks and larger vehicles- which still constitute a major portion of vehicles sales of Detroit carmakers- are vulnerable to higher gas prices. The Japanese carmakers have large cash reserves for new investments, and will introduce new models as they recover from the earthquake. In the past Detroit carmakers used incentives to maintain sales, which diluted profits. Jeremy Anwyl, chief executive of Edmunds.com, says Detroit carmakers have an opportunity to get back to a situation where they can compete with foreign carmakers on a level playing field, with better market acceptance and higher prices. GM says it will increase prices by about $123 on average to cover higher materials costs. The risk will continue to be in the product mix of a higher proportion of pickup trucks and larger vehicles in a volatile oil price environment....

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Germany's Economic Affairs Ministry and Economy Minister Habeck have called for blocking of the sale of a Dortmund chip production company Elmos to Sweden based Silex, a unit of Sai Microelectronics of China, for 85 million euros. There is now significant debate within the German ministries about the degree of dependence on China. Habeck's move seeks to prohibit the acquisition of Germany technology companies by Chinese competitors on grounds of protecting public order and security.

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MacKenzie Scott who cofounded the early startup on books of Amazon with Jeff Bezos, and her foundation gift giving to the underprivileged, native Americans, Black Americans, and other causes by 2026. Scott's stake is $18 billion in Amazon in 2025. Data driven approach she adopted gets through 6490 organizations and narrows that down to 822, and comes up with 384 grant recipients, says the WSJ. No applications just a call and $20 million or $50 million is the approach she has taken and the money is given on trust no monitoring.

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The situation on the inflation front in 2009, as the USA faces productive use of manufacturing capacity under 70% and unemployment at nearly 10%.

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Folarin Balogun of the US Soccer Team in the World Cup Soccer 2026- born in Brooklyn of Nigerian parents settled in London chooses the US team. He scored 2 goals in the opener against Paraguay. Balogun fills a gap in the US team which managed just 3 goals in 4 World Cup matches in 2022. The lack of good strikers was a weakness in the US team. Balogun says he has the kind of US fan support  that he feel he has to return with his game. “There were so many fans motivating me and telling me how much they wanted me to represent the US." He says of Pulisic and his teammates taking him out to dinner.  “CP, a lot of the boys were there. … It was cool and they made me feel welcome." Balogun has two roles he plays both as a striker wiht his speed and positional awareness. And a defender in turnovers he acts as the first line of defense to win the ball back. 

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Surcharges from Covid era coming back in 2026.

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Indian salary growth is expected to be 15% a year and salaries for professionals doubling every 5 years based on GDP growth for Vikshit Bharat 2047 of 12% per year. This is why India will seek to limit migration to legal migration only and further limit the brain drain by creating attractive opportunities in India, including ones from GCC's or global capability centers of foreign corporations in India that are expanding as US reduces its overdependence on China for manufacturing and returns jobs and factories back to the US.

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Abortion rights amendments passed in 7 states, voters continued to back it. But this did not help Harris as pocketbook issues and cost of living, the economy was the major issue for both women and men. White women have never voted by a majority for any but 2 Southerners fromTexas LBJ 1964, and Bill Clinton from Arkansas in 1996. This shows that it was not realistic for the campaign to depend on abortion as the issue when the economic difficulties following the pandemic were real for Americans across gender and the Democratic party had started on the road to regaining but not yet regained the trust of working class voters. It was too much to accomplish in 4 years of Biden what had eroded over three decades.