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This report in the Indian Express shows the situation in Indian states. Only Delhi has a 90% recovery rate which means the virus spread is slowing and recovery is happening. All Indian states combined have a recovery rate of 70%. This means there are many new cases as others are recovering. Deaths are at about 2% and should eventually reach 1%.

Maharashtra cases exceed 500,000 and Tamilnadu 300,000, followed by Andhra and Karnataka in the top 4 states. By comparison the large states of Uttar Pradesh and Bihar have together 220,000 cases and about 2600 deaths much less than Tamilnadu or Andhra Pradesh. Cases are now distributed in northern and southern India in the same proportion. Maharashtra and city of Bombay have not recovered in the way Delhi is recovering. In Maharashtra the inexperience of the administration compares with the experienced administration in Delhi of Mr. Kejriwal.

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The higher risk of infection in counties in the U.S. that did not impose stay at home orders and enforce them is shown in this report in the NYT. Florida has counties in the list and the state only imposed a lockdown in the state as a whole on March 25. People in Jacksonville and Tampa continued to travel at a higher rate than people in other parts of the country says this report in NYT. In Louisiana not till March 20 weeks after after Mardi Gras celebrations in New Orleans was travel reduced significantly. 

It takes 2-3 weeks of this higher travel to show up in data about infected people. Dr Fauci, the leading health expert on the crisis, says the impact of following the stay at home lockdown shows up in the reduced level of new cases in many areas, making this change in behaviour very critical.

 

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The concerns raised about the manner in which internet service providers make decisions about what constitutes "hate speech." The need for oversight and public scrutiny over these decisions so that they do not remain opaque, as in the case of the anti-Islamic video of Sept 2012. Tim Wu of Columbia University raises questions about the need for more clarity on how these decisions are made. Other concerns raised relate to preserving public safety.

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In this interview with Der Spiegel Bernie Sanders reflects on the 2016 election. He says that the Democratic Party missed the fact that many people in the midwest, south and other parts of the country, were worse off after president Obama left than when he came in in 2008. He also says Hillary Clinton relied too heavily on speechwriters and advisers upto the point of  having three speechwriters say why she was running for president. He finds the cuts proposed to healthcare, in the budget, and action on climate change, immoral. He also points out about the investigations that Mr. Mueller is someone everybody respects and that it would be wrong to offer a biased opinion, that Trump supporters would see this in the way that he is picked on when he just came in. He also believes Trump supporters are like other voters and are likely to look at the results, how better off they are under the Trump administration.

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Bruni describes the situation facing Millenials in the U.S., a group of young people who face high student debt and few job opportunities, many stuck in jobs that do not match their qualifications. A similiar situation faces young people in Italy, Spain, France, the UK and other European countries. In South Asia there is an appalling lack of job opportunities to meet the aspirations of young people for a better life.

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The Chief Economic Adviser to the Indian Government Mr. Anantha Nageswaran, makes these comments on the economy of India before the presentation of the new Budget for April 2023 to March 2024. The Economic Survey of India states that "India is prepared to grow at its potential once the one-off shocks of the Covid pandemic and of the supply chain recede." He sees the sweeping effects of the reforms across multiple dimensions taken from 2016 to 2022 having a lag effect and now making their impact. This means that potential growth can go up to 7 or 8% with macroeconomic improvement, fiscal improvement, infrastructure efforts, women's employment, and getting rid of LIC (License, Inspect and Compliance) across local, state and central levels. He says the central bank estimate of 6.8% retail inflation for 2022-2023 is outside its target range but yet not high enough to deter private consumption, and no low enough to weaken the inducement to invest. He says slower growth in the world including the US will bring two advantages for India- low oil prices and a better current account deficit situation.  ...

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Okere city, Uganda is revived with a school, solar energy, health clinic, and economy built on shea tree products. All done by someone who left the area as a child during the war decades ago and lost his father, a civil servant in Uganda. The graduate of London School of Economics, Mr. Ojok Okello, says he wanted it to generate its own income and grow from the ground up with local people building a better future. He did not want it to depend on the goodwill of some white person without the locals involved. To do this he put in his own money- $39,000. This is a heart warming story of what is possible in parts of British East Africa that are being revived with the good sense, hard work and, and positive spirit that was part of its history. It shows that with the will, self confidence and implementation a lot can be done that was thought to be impossible. A story that is seen in Indian villages and other parts of the world after decades of stagnation- clean water, electricity, schools, health care.   ...

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"We will never abandon the American worker and her community wherever it is located," says president Biden's head of the Council of Economic Advisers (CEA). He tells the Economic Policy Institute that many economists had questioned the policies that hurt American workers even as early as 1996. He joined EPI in 1992 and says he has followed the trade debate since then and heard the warnings as China entered the WTO in 2001 after years of negotiations in the last year of the Clinton administration.  Common sense questions were asked- Why asked Thea Lee now at the Labor Department is it good to have protection of intellectual property rights but not labor rights under NAFTA. On TPP and FTA's or free trade agreements in general he who writes the rules gets to benefit from them. Free trade having far less to do with free trade as generalized is the first thing he noticed when coming to Washington. Certain business groups captured the task of writing the rules in TPP  to benefit them.   ...

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Pidcock, mountain biking gold, says the biggest thing is to inspire people that's what he loves to do. It is bigger than cycling. Cut off from the rest of the cyclists after a 40 second puncture and being slow to change wheels, Tom Pidcock of England, faced huge odds. At first he wasn't getting any closer, he wasn't making any inroads. He had made too many mistakes he realized. He was suffering and fighting to make a comeback. Only with 3 laps left did things change when he cut 15 seconds off the gap in one lap. At that point Pidcock knew he could come up front. He chose to go for it and found a gap which he took. He was competing with Frenchman Koretsky and the French cheered him on. Pidcock prevailed. He had done this on one of the rides (Stages) in the Tour de France descending down the Alps. Inspiring young people goes beyond cycling. ...

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Turning Open AI into for profit after starting as a supposedly altruistic tendency venture has opened new fault lines in the company with many people leaving. The AI is now becoming a kind of gold rush with companies putting huge price tags on talent and committing some of the nation's limited capital resources into directions that lead to the massive waste that led to economic crises in the 1930's. It is reported that it will put major stress on the grid and on electricity resources and that Tech companies do not want to pay for this. The government needs to act boldly with its own "bold persistent experimentation" to find solutions where the Nation keeps its edge in many emerging technologies yet does not waste resources, or divert resources from other purposes that are vital to the better lives that all Americans aspire to. These needs are in housing (3 million new homes), in small business uplift, in renewable energy and climate change action, in education to lift NAEP scores, in early childhood education, and in healthcare. ...

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Emily Baumgaertner takes on the critics of children's vaccines. A major health advancement in tackling polio, measles, mumps, rubella, diphtheria. The NYT says most Americans and doctors today have forgotten what a scourge these disease were in the last century. Polio one of the most serous killing or paralyzing half a million people worldwide in the 1930's and 40's. A scourge deadly as it happened suddenly in a day one could get paralyzed. US president FDR had polio which changed his whole life in the 1920's. In 1952 vaccines took this down from 22,000 in 1952 to just one in 1993.  Measles - the vaccine licensed in 1963. It is highly contagious. Tens of thousands hospitalized 400-500 died each year. It is 97% effective with 2 doses, its spread require 95% coverage rate. 16 measles outbreaks in 2024- about 300,000 children not protected, parents skipping it. Diptheira respiratory disease- 100,000 cases a year in 1920 to less than one today. One in 10 died from it says CDC. Vaccine TDaP. ...

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DJT announces actions on Liberation Day, April 2, 2025 freeing America on attacks on its manufacturing base and its workers for 50 years since the 1970's. He announces reciprocal tariffs on all nations with large trading imbalances with the US, a 34% tariff on China and a 20% tariff on all imports from the European Union. These nations he says have taken advantage of the US and looted and pillaged the US workers and communities for decades mainly because of the presidents who sat in the White House executive room and allowed this to happen. US Treasury Secretary Scott Bessent advised all trading nations-  "My advice to every country right now is, do not retaliate." His advice- "sit back, take it in.... Because if you retaliate, there will be escalation". The US is in no mood to be lectured or retaliated when these countries including China, Japan, South Korea and the EU, Taiwan, India a list of about 20 nations have taken unfair advantage of the US in trade for 3 decades. ...

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The WSJ's William McGurn looks at the Trump impeachment in the Senate and compares this with a similar period when Bill Clinton, another president  was being impeached by Republicans. Bill Clinton survived the impeachment vote as is expected also for Mr. Trump. The strong economy supported Mr. Clinton in his State of the Union message that followed, as is expected for Mr. Trump in his State of the Union message. 

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This podcast in the WSJ takes up a Chinese startup Luckin Coffee that had major investors in the U.S. and China, including big banks in the U.S. and Europe.  The idea is simple- sell coffee in China to aspirational coffee drinkers following western lifestyles using mobile app. It is the story of huge investments and losses, and collapse of a NASDAQ listed company with what the WSJ investigation calls fabricated sales. Why are infrastructure and health, education products starved of capital left high and dry, while billions are poured into such investments with huge losses. All you need is this article in the WSJ of Sept 16, 2015, shown in today's articles. Showing forecasts of rapid growth of coffee consumption for an aspirational western lifestyle consumer in China, and a small mobile app investment to attract investors in a startup -if you refashion the coffee retail outlets as a tech company by selling coffee for delivery/takeout by mobile app. Luckin Coffee in China shown in the podcast in today's articles did this and attracted billions of dollars in investment from investors, including large banks and financial companies in Europe, U.S. and China, only to collapse in 2 years with losses and investigations in China and the U.S. Luckin Coffee soared after its NASDAQ stock exchange listing in 2018 only 1 year after its founding. WSJ calls it "brazen" the effort to add tech hype to a coffee company and have it listed on NASDAQ in just over a year, only to see its sales and value collapse just as quickly. $400 million in convertible bonds losing 90% of their value, the stock losing most of its value and NASDAQ delisting the stock after $311 million in fabricated sales were found as reported in the South China Morning Post. For U.S. investors the problem is that Chinese companies can list on the NASDAQ or other stock exchanges in the U.S., but U.S. investors cannot look at financial records of companies in China. Yet there are basic questions- why is it a tech company? Why are investors like big banks and other large financial investors pushing so much money into such places when there is so much that needs to be done in health and infrastructure investment, and real tech investment? 5G or 6G? Health systems? Ocean Grounds has a coffee store in Shanghai, Pacific Store has coffee retail outlets in China, and Starbucks is still in the business with retail outlets - remember none of these companies are tech companies. In 2017 Luckin Coffee started by making it look techy with a mobile app and refashioned itself as a tech company.  What is so big about a mobile app as there are hundreds of millions of apps. The rest came from making it look like Starbucks, right down to baristas, fancy coffee machines, and opening stores near Starbucks, according to the Podcast in the WSJ.The difference between Starbucks and Luckin Coffee - the price Luckin Coffee would sell for about $2 compared to about $4 for a Starbucks latte. Yet do this by pricing at closer to Starbucks and issuing promotions discounts constantly on the mobile app, that would bring the price to about $2. That is all it takes to make a tech company nowadays. No scientific research, no science and technology, no technical experience, nothing of the kind that led to the invention of the computer chip or the vaccines that are now being developed, or research activity of any sort. Banks, financial companies are willing to channel huge amounts of money into these places and lose it, as they did in We Work, and are doing at companies such as ride sharing app companies, as well as other app companies without any core technological component or value added such as infrastructure or health products. Only it is not the bank's money but the people's money and savings that are deposited at banks and channeled into investments. At the same time as investments in much needed infrastructure and health, education, services that really matter to us as a society, are neglected and starved of capital.     ...

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Conventional monetary policy is ineffective in a liquidity trap. At that point short term interest rates are at zero, and conventional monetary policy is ineffective at this zero bound. Unconventional policies such as buying long term Treasury bonds by the Federal Reserve may be adopted, but their effectiveness has not been proven. This is something the Fed is attempting to do in the U.S. after the 2008 financial crisis. This was tried in Japan in a deflationary situation and the results did not show conclusively that it works, because Japan remained at a borderline deflationary situation for years while this policy was implemented by the Bank of Japan. The $600 billion bond buying program of the U.S. Fed in late 2010, known as QE II, was implemented to reduce the chance of deflation taking hold and to stimulate growth. Krugman and others argue for the need of fiscal policy and government spending to step in to support the unconventional monetary policy. This becomes more difficult to do with the increasing budget deficit the U.S. is facing in 2011....

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WSJ Board criticism of DJT Tariffs paints a picture different from what is happening at a time when the president needs support to change the rules of world trade so that there is a level playing field for everyone. First Japan and then China have begun and pursued a course that uses the international trading system set up after 1945 to their advantage resulting in the deindustrialization of the US and Europe since the 1980's. WSJ's own reporting in July shows the inflation is subdued at about 2%. The president's jawboning or moral suasion has worked so that retailers such as Walmart have actually reduced prices on basic products and all retailers including Amazon and Target have cut prices on the more expensive products where their margins are larger. One WSJ report shows Amazon increased prices on products that were made in the US, as its own form of jawboning so that Amazon would get the point. It also belittles the extraordinary effort of Bessent and Jamieson as trade negotiators in getting the deal with Japan for $550 billion. It says DJT was lucky to get the deal when it is clear that Japan is returning the US the favor the US did to Japan, as a true ally should do, aside from US defense of Asia. ...

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Hoda Kotb just launched her new wellness and meditation app Joy 101. She broke away from a television news career at 60 years to do this. Hoda says, don't look at the odds, because if you do you won't try anything, recounting her own experiences starting late and trying new things with the help of other people without the fear of failing.

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Income of $63,000 a year is what an average full time worker makes in the US and $140,000 what it takes to build a middle class life in the US in 2025. It is unlike the days of their parents say young people when most people could afford to buy a home if they worked full time. In 2025 engineers making $90,000 say they cannot make room for a down payment at that salary, or afford the cost of having one or two children. 

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Though tens of thousands of workers in the French rail network are protesting in the streets about changes in the labor laws, the atmosphere in the National Assembly where president Macron has an absolute majority is different. In the National Assembly most of the legislators are young, inexperienced and there for the first time after the recent elections. Most owe allegiance to president Macron and his party En Marche. The labor code changes were passed without much discussion and on a thumbs up or down vote.  Legislators from Mr. Macron's party are seen by older surviving legislators from an earlier period in French politics as arrogant and do not consult with older legislators. The entire sociology of the National Assembly is overturned and presents a complete culture shock, says a leader of Macron's party who selected members for seats in parliament. Three fourths of members are here for the first time, 60% in Macron's party En Marche. About one third never held public office before. These members spend a whole week in parliament instead of the few days during the earlier Assembly. Yet for all the work and enthusiasm these members act as more of a rubber stamp for Macron's policies instead of offering healthy discussion so that policies can be modified where needed to better accomplish the goal of changing the French system where it can be improved. The result is a form of government that critics increasingly see as autocratic. For Macron this means the lack of a process of consultation that could improve legislation and increase consensus, creating larger support for the changes to the labor laws and the pension system. ...

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The two men, the couple one a Professor and the other a hard charging investment banker who kind of fit in together, their background, personalities, and preparation for this crisis. Throughout this crisis both had little sleep paulson some 4 hour and Bernanke leaving at midnight to catch some sleep and how the crisis kept going on and on, with one fire put out another remaining to be put out and finally after day after day on Diet coke or diet Dr. Pepper and little sleep Paulson agreed with Bernanke's opinion that "we've got to go to Congress." In fact based on his studies and research on the Great Depression and of the crisis in Japan in the nineties in the banking system there, Bernanke had given his conclusion early on about a year earlier that if there were significant decline in housing prices the government would have to step in with a large intervention. But in the end it happened all so suddenly with Paulson agreeing and both Paulson and Bernanke going upto the President and the President saying lets do it. So the meeting with Congressmen was arranged a few hours later after the inital meeting in Speaker Pelosi's office. Any reluctance to meet Congressmen who had considered any steps in this session unlikely having disappeared, and the stark nature of the crisis in the words of Senator Dodd, Chairman of the Banking Committee, became clear in the opening remarks of Paulson and Bernanke. Dodd told a news reporter that for a long time there was complete silence in the room and he does not recall a moment like this in 25 years in Congress and it being a scary story. By now it had become overwhelmingly obvious that something needed to be done in hours and days....

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The former Surgeon General of the U.S., Vivek Murthy, has tackled issues such as the opioid crisis, obesity and poor health outcomes. In his new book "Together: The Healing Power of Human Connection in a Sometimes Lonely World," Murthy looks at the loneliness he says is pervasive in the new culture of iphones and social media that have perversely reduced not increased social connection and the feelings coming from good relationships and social concerns.  A 2020 Cigna survey shows 61% of American adults are lonely, up from 54% in the 2019 survey. It is not about having a lot of people around you, it is about feeling a genuine connection and the quality of relationships. Murthy finds this lack of genuine social concerns and social connection as fairly pervasive from his conversations with people all across the country. Normally it is felt in the fifties as life changes, and in the eighties with loss of mobility. Today the tech devices and what is called scoal media that appear to have increased communication have actually reduced the level of quality connections and interactions. Dr. Murthy suggests volunteering, and service in the community or larger communities worldwide as a way of breaking this. Capitalizing on informal day to day contacts, including with people one has not known before, is another way. This shifts the focus to the people around us and brings a new dimension and quality to our lives.  Saying hello often and smiling genuinely, says Murthy. Improving the  quality of time in day to relationships is another. This can also give us the confidence to connect with people on a regular basis.  ...

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The use of Chapter 11. or the US bankruptcy code, was astrong point of the American system of free enterprise, because it gave enterprises with problems but otherwise having healthy businesses a chance to reorganize and emerge stronger from the crisis. DUring the time in bankruptcy it could work out its debt load with creditors under court protection. Now this is no longer working in the current economic crisis. Because under current law derivative transactions are given preferred creditor status in a bankruptcy many creditors are designing their loans as derivative transactions. And creditors are creating the empy creditor situation by taking credit default swaps to ensure that they get paid if acompany fails to make apayment. In the process the creditor does not have the same interest in the company staying in business as it did before. This happened with Goldman Sachs buying credit default swaps on its loans to AIG. Complicating the situation further creditors are using the law to seize inventories and in other ways get aclaim on the assets if acompany like Circuit Stores for instance runs into difficulty. As aresult CIrcuit City was gforced into liquidation. So on one hand businesses that have achance if reorganized under Chapter 11 are being forced into liquidation and on the other hand companies that are not going to be the source of innovation or productive gains for the economy like Citigroup are simply tying up huge amounts of government money as there is a fear that a proposed bankruptcy could lead to arepeat of the Lehman collapse, where bankruptcy proceedings are too slow and cumbersome for this situation and things fall apart in days. ...

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The election in Catalonia leaves the region as divided as before. The pro independence parties won 47.5% of the vote and the parties opposed to independence won 43.5% of the vote, so that only 4 percentage points separates the pro and anti independence parties. By seats in the Catalan parliament the vote showed pro independence parties with 70 seats, a loss of 2 seats from the previous parliament. The party of Mr. Puigdemont won most votes by a small margin within the pro- independence parties. On the other side the Ciudadanos party which is strongly opposed to independence won about 25% of the vote. About 80% of 5.3 million voters cast ballots. Prime minister Rajoy hoped for a better result to preserve Spanish unity. Most Spaniards support a unified Spain. Pro union Spaniards are strongly opposed because they see the efforts of Mr Puigdemont for independence coming at a time when Spain was just recovering from a deep recession with millions unemployed. This is affecting the economy of Barcelona and the Catalan region. Unemployment is higher and tourist flow has slowed. Because the pro independence parties are themselves divided on how to proceed, and with the anti independence parties also winning a significant share of the vote, the negotiations between the Catalan regional government and Madrid will be protracted. ...

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Progressive caucus in the US House of Representatives led by Pramila Jaypal, a first time Indian American Congresswoman defeats an attempt by Josh Gottheimer of the Problem Solvers caucus to separate much of the president Biden's agenda in health, education and social policy and risk it being defeated by Senators Manchin and Sinema in the US Senate. Without the efforts on child care, education and health, climate change and social services part of the Biden Workers and Families Plan much of the Biden agenda would remain unfinished and Democratic party promises not kept. This also means that Manchin a Senator from West Virginia with a population of 1.8 million and Arizona with a population of 7.2 million, both conservative leaning Democrats could sink the entire agenda of president Biden to support American families and workers for a population of 331 million people. That two states with a population of less than 3% of the American population could sink the entire agenda of president Biden shows how fragile a situation has been created within the Democratic party to support workers and families even during the pandemic following the leadership of Carter, Clinton, and Obama Ms. Jaypal, a three term Congresswoman from Seattle, Washington state, was first elected in 2016 with an endorsement from Bernie Sanders who was the Democratic Party's leading candidate for president till the late stages of the 2020 US presidential primaries. Bernie Sanders says of Jaypal- "I think she is doing an extraordinary job. And I think the Progressive Caucus is doing an extraordinary job." Sanders founded the Progressive caucus after getting elected to the Senate from Vermont 30 years ago. Even though it is hard to imagine the Democratic party being the Democratic party without bold policies in climate change, affordable housing, reducing income disparities,  investing big in childcare, education and healthcare, attempts were being made to sink the entire Democratic party and national agenda going back to Franklin Roosevelt. Jaypal is described in the WSJ as diplomatic and firm, saying "I am so proud of our caucus; I have never seen our caucus so strong. And I am a very good vote counter also." Fifty members of the 100 member Progressive Caucus held firm in support of president Biden's original agenda without which the president would have little to show in keeping promises he made to the American people in the election and little to differentiate him from Mr. Trump who also supported infrastructure spending. Separating the infrastructure bill would have risked sinking Mr. Biden's plan for recovery of America from the pandemic and the devastating policies pursued by American presidents in the last two decades. Policies by previous presidents that have impoverished the country, created huge income disparities, weakened America in the world in trade and technological leadership, and wasted resources in foreign wars. There are no centrists or far left- these are just labels. When Ms Japal said "Let's just remember the Speaker (Nancy Pelosi) is a great champion of this agenda. I think she was trying to do as much as she could to get this done," she could have said it is Mr. Biden's own agenda pushed forward with conviction to help workers and families during the pandemic, and build a solid American recovery, restore American leadership in the world. Pramila Japypal is the first Indian American woman in the US Congress, and one of only two dozen naturalized American citizens in the US Congress. That she could play such a critical role for good in the US Congress shows that with the right convictions, determination, experience, much can be done for the common good in America and the world.   ...