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  $112 billion out of $170 billion in new investments resulting from Biden's 2 climate laws, and the bulk of the 200,000 new jobs are being pushed by president Biden into Republican states. Republican voting states including many southern states are getting the largest share of the hundreds of billions of dollars in renewable energy investments by the Biden administration. Two new climate laws were passed by Biden without many Republican votes in 2022. WSJ offers a visual guide to where new manufacturing investment is taking place. It shows that three fourths of the $170 billion in investments by companies are going to Republican voting states. On a state wide basis this amounts to $112 billion for Republican states. Most of the public is unaware of the role of the climate laws in this new investment in manufacturing. This is why other presidents talked about manufacturing investment including previous presidents Republican and Democrat, president Biden has done the country a great service by making much needed investment in manufacturing and creating a new sense of hope in once neglected communities. Investments are being attracted to these states many in the south with easier land development and lower costs for labor, electricity, and lower taxes. This gives Republican states the ability to use their advantages in the best way and overcome the failure of many Republicans in Congress to support these investments with president Biden putting together bipartisan support.  ...

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The total government expenditure of the US including the individual states spending is 37% of US GDP (IMF). Musk $2 trillion cuts is 92% of the 2.17 trillion excluding defense, veterans benefits, interest on debt, Social Security, Medicare. The simple math means he plans to shut down the government. US  37.5%  Germany 48% France 57% UK and Canada 43% Japan 42% This shows that the US that has no universal health insurance and  subsidized public transportation, spends less than the developed OECD countries as a percentage of its GDP. Of the Budget of $6.75 trillion in 2024 Social Security $1.46 trillion   22% Medicare            $874 billion   13% Interest on Debt  $880 billion    13% Trump plans to remove tax on Social Security which would take this from 48% to over 50% meaning half of the Budget is off limits. If defense spending goes up not down then $874 and $325 for Veterans benefits are $1.2 trillion also off limits.  This means cuts of $2 trillion on $2.17 trillion or 92%. Do the simple math and this would shut down the government. ...

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Pello Bilbao becomes the first Spaniard in 5 years to win a stage in a Tour de France. He made it through hilly terrain in the massif central highlands of France to win Stage 10. Jonas Vinegaard retains a 17 second lead overall. 

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Trump campaign manager, Paul Manafort, gets a more lenient sentence of 4 years for tax and bank fraud from a judge doing the sentencing. Prosecutors had asked for 13 to 24 years. Separately another sentencing takes place on a different charge next week.

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Florida reported over 15,000 cases in one day on July 11, 2020, the highest recorded in U.S. in one day by any state. Many states are recording a climbing rate of positivity for coronavirus tests including California, and South Carolina is having about 22.3% positivity.

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As the pandemic continues to spread and numbers grow with reopening of the economy the question remains -what can we learn from other countries positive experience in controlling spread? Here the Times provides the example of German contact tracing- chancellor Merkel has emphasized that a lot depends on "total" contact tracing, and contact tracing "above all else." Germany's experience is that even if you don't get everything right, you make an honest effort with everything you've got and do it early it makes a real difference. Some of the offices across Germany are stretched and short of staff but they have been working since the beginning of March, sometimes in the early days 7 days a week. Only 33% or one third of the offices throughout Germany for contact tracing have the required 5 person team for every 20,000 people, and 35% are overstretched or at their limit, according to one survey. No apps, just a low tech effort with people from the state administrations who were not working during lockdown trying doing something else, or volunteers. Mainly using the phone, talking to people and tracing the contact chain of people testing positive. Putting this information on the computer with a central database.  The Berlin office has 115 workers and has tracked down every one of 666 virus cases it was given. Because of privacy concerns at the Munich office sometimes even the patient's name is not given and office staff have to locate the name and the person. It requires dedication, flexibility and above all resilience, says Harold Rau, the deputy Mayor of the Cologne office, cited in this Times report. The doctor alerts the local office with a test result. The office calls the person and finds out who he has been in contact with for the last 14 days. Then the people who were in contact with are grouped based on the directness of contact, face to face, so on. These people are asked to quarantine for 14 days, sometimes with the rest of their household. They get daily call to find out how their doing for symptoms. The effort goes back to Robert Koch in the 1892 cholera epidemic in Hamburg. Robert Koch, microbe hunter in Germany, was called in after the epidemic spread from Moscow. It devastated Moscow and Tokyo, but Hamburg suffered far less about 8605 deaths as a result of the contact tracing and strict closing off quarantining of affected chains after isolating them, closing off affected parts of the city. Bit by bit the cholera epidemics sparks were put out before turning into flames, says Koch. In the current pandemic Germany has suffered 8241 deaths and 178,000 confirmed cases. So far this is in line with the cholera epidemic in Hamburg 1892, and this for all of Germany. And it is not just affluent nations that can do this. where there is a will there is a way. In Kerala state in southwestern India, similar efforts have worked to limit spread  with even better results than Germany. ...

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Fannie Mae will make a payment of $59.4 billion to the U.S.Treasury as a result of improvement of conditions in the housing markets that enable Fannie to writeup the value of devalued assets on its balance sheet. Fannie showed a profit of $8.1 billion for the first quarter of 2013 from its activities of guaranteeing and investing in home loans in the U.S. In 2008 the U.S. government bailed out Fannie Mae and Freddie Mac and the agencies received $117 billion in government assistance since then. With this $59.4 billion about $95 billion has been paid back to the U.S. Treasury. This also delays the debt ceiling deadline to Oct. 1, 2013 by generating more revenues for the U.S. Treasury in addition to higher tax revenues.

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The U.S. jobs added for Dec. 2011, are 325,000, according to ADP figures, but the reliability of these figures has been questioned because of the different methods used in calculating the number. For Nov. 2011, the ADP number for private sector jobs added was 206,000. The same number from the Labor Department was 140,000. For June 2011 there was wide divergence- the ADP showed private sector jobs added as 157,000, the same number from the Labor Department was 57,000 jobs. For December 2010, ADP reported private sector jobs increased by 297,000, and official numbers showed 113,000. For December there are seasonal issues as well that affect the figures. Other factors affecting the jobs picture is the loss of jobs inthe government sector, and the gains in jobs predominantly coming from poorly paid retail and restaurant industries and fewer job gains in the better paid construction and manufacturing industries.

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The unofficial exchange rate for the Rial fell to 33,500 rials to the dollar in informal currency exchanges. It fell 13% on Oct. 1, 2012. At the end of 2011 the exhange rate was about 13,000 to the dollar, and the rial has already lost 75% of its value as a result of economic sanctions over its nuclear program. Ahmadinejad and the Iranian government risk jeopardizing most of the social gains to improve living conditions as Iran's economy faces the full force of economic sanctions.

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GM's joint venture with Luizhou Wuling Motors has produced a win-win situation for both companies. Wuling was a small, regional manufacturer when the joint venture started. Now Wuling has more than 1 million in unit sales. And GM has benefitted from the rapidly growing sales. Year over year sales were 29% in 2010, and were slowing to 10% in 2011, with the end of government incentives. Wuling vans can now be sold under the GM brand in India, using lower cost manufacturing in China. Looking back this was good for GM. The future however has some twists and turns and could turn out to be different. Wuling joint venture will produce cars at a lower price point under the Baojun brand. These cars were shown at the Shanghai Auto Show, and will be marketed to customers who are looking for affordable cars in the second and third tier cities in China. The Baojun brand joint venture will have one difference. This brand involves intellectual property being held in common with Wuling Motors. This is part of China's new plan for American and European manufacturers in China- the price of access to the Chinese market is greater technology sharing with Chinese partners. In the long run this should enable Chinese manufacturers to be dominant inside China. This process is already underway. According to J.D. Powers, Chinese brands had 32% of the domestic passenger vehicles market in 2010, up from 18% in 2000. Something similiar happened with Japan, where Nissan was making Britain's Austin A40 series in the mid-1950's. By the 1960's the foreign tieups were replaced by Japanese manufacturers dominant in the home market and exporting their own models. ...

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France's foreign minister, Laurent Fabius, has sounded a warning about a nuclear agreement with Iran in the past. In 2013 he warned the West not to get drawn into a "fools game." In an intervew with the WSJ on May 31, 2015, he says without proper verification which includes military sites a nuclear agreement with Iran is meaningless. He points to the dangers of other countries in the region saying the agreement lacks clout and opting for developing nuclear weapons.

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What is not reported is that the US could accept a shift of some appliance production overseas, what it could not accept is the shift of its manufacturing base in industries it created in semiconductors and technology to Taiwan, China and Japan, South Korea. The economists of the previous administrations were clearly wrong, and the previous administrations did nothing but observe the slow destruction of America's industrial base. It will take 4 years of the DJT administration for the investments to be made in the US, the future administrations will continue this policy. Deng and Kellman in WSJ clearly understate the importance of the policy changes for America's Level Playing Field ALPF. It is easy to say Whirlpool and Harley Davidson won't be coming back strongly soon as the EU, Japan and South Korean makers of appliances and motorcycles will be able to absorb most or all of the 15% in tariffs. Yet it gives them a better  and level playing field to compete with foriegn makers. What is not shown here is that the tariffs will help increase investment in EU and Japanese , South Korean automakers in the US, and will increase with lighter regulation the opportunities for American automakers GM and Ford. ...

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Scholz loses a no confidence vote in parliament that he called so that new elections are held in 60 days according to federal German law.  He says it is a fundamental choice that German people need to make between pensions and investments for the future with support for the armed forces vs the policy that doe not plan to invest in the future with a debt brake limiting investment. The Free Democrats opposed SPD and Greens efforts to invest for 4 years. Why did Scholz continue. in this way with FDP CDU's Merz asks directly, was Scholz on another planet.  This has happened three times before- in 1972 when Wily Brandt got support for his Ostpolitik policy of better relations with Soviet Union and GDR and new mandate after planning a no confidence vote for a new election. He won with 46% of the vote and 91% of eligible voters voted. In 2005 Kohl was reelected after a no confidence vote he planned on his government to get a new mandate. Kohl of CDU won. In 2005 Gerhard Schroeder's social and economic reforms affected working class Germans- he called a no confidence vote to get a new mandate. This one Schroeder of SPD lost and it started Angela Merkel of CDU's 16 years in office. ...

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RFK Jr. nomination heads to the full Senate for confirmation as Health Secretary to bring new ideas and solutions to tackle obesity and disease in the US. He called the US health condition dismal as it is, not just for what is spent. RFK Jr called the US a sinking ship when it comes to the health of its people as he answered questions from Senators at Senate hearings. Ron Johnson, Senator from Wisconsin, said RFK Jr. was an answer to his prayers for someone who could help tackle this crisis. RFK Jr. said he was pro-vaccine and his opposition was only to some aspects of vaccines in certain situations. He also said that his father Robert Kennedy who died in 1968 when RFK Jr. was only 14 years old had told him when he was just 13 that it was important to have a fierce skepticism.  The magnitude of the crisis is so large and the budget is so large that only someone with the experience and one who has fought hard won battles against coal and for the environment for decades, and with the tenacity of RFK, is capable of taking the action needed today. Many senators applauded Make America Healthy Again, even as others asked RFK Jr. to support all vaccines at a time of public skepticism of the government. ...

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Americans loaded up with debt may be turning to older thriftier ways of an earlier generation. This this will affect consumer spending, have an impact on Chinese exports, and on the Japanese economy which is dependent on China for growth. Some argue that there is a culture of consumer spending that runs through recent American history. Even after one boom was over the stock boom was replaced by a housing boom, each boom and easy credit offering free spending and borrowing lifestyles. Is it going to change now? But it could be that a point has been reached where the finances of households and of the nation's credit system can only go so far, and culture won't matter if banks tighten up credit. There is a limit for the Fed to act to lower rates, and household debt has reached highly serious proportions. The savings rate went from one tenth of income in 1984, to 5% in 1994, to slightly negative in 2008. Today for those who borrowed against their homes in 2003-2007, 34 million households or one third of the US households, savings rate was negative 13% in 2006 June. Thhis came down to 7% in end of 2007, according to Moody's Economy.com, which suggests that the cutback in consumer spending from this group of people had already begun. What will this mean for consumer spending in the USA? It means that even though the top fifth of American earners who generate half of all consumer spending according to Barclay's Capital, will continue spending though a bit more carefully than before. The rest of the American people will be cutting back, especially the one third of the nation that is heavily in debt, and the unemployed if job numbers aren't that good. Which could be why Goldman Sachs predicts that Japan is already in recession using the Japanese definintion of decline in output, and China may be slowing down more significantly than is understood because of the poor data that is coming out of China. The Chinese economic activity too chaotic to accurately measure, and with large time lags before what is actually happening is detected and quantified correctly. ...

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Elections for 500 members of the lower house of parliament in Mexico and for 15 governorships. Lopez Obrador won the presidency in 2018 with a huge majority, 30 points ahead of the rivals from the PAN and PRI parties. Average of five recent polls show he is still popular after the pandemic and winning 40% of the vote followed by PRI at 18%, PAN at 17%.  Obrador has increased pensions for the elderly by using savings from other parts of the budget, and increased the minimum wage several times. He seeks to reverse a 2013 law that privatized parts of the oil and electricity sectors. Obrador plans a large refinery project and rail infrastructure projects if he wins a strong majority in the lower house, in addition to social spending that would help the informal economy which has suffered during the pandemic. Across LatinAmerica, in Peru and other places the shift is to social spending to support the informal sector and anticorruption efforts so that good governance supports infrastructure spending. ...

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This editorial in the WSJ points out that U.S. president Obama made economic inequality "the defining challenge of our time" in his State of the Union address in 2013, yet the U.S. has seen widening economic and social disparities in his two terms- creating the situation where Bernie Sanders is now in a virtual tie in Iowa with Hillary Clinton. It says Hillary Clinton wins handily over Sanders on three of four issues of the most concern for Democratic caucus voters in pre-entrance polls, healthcare, terrorism, and on the important issue of jobs and economy by 51% to 42%. Where she falls behind is on the issue of income inequality, and by a very wide margin reflecting voter disillusionment with policies that resulted in marginalization of some workers through globalization and long term unemloyment, and reduced access to education with high tution costs- there Sanders wins by 61% to 34%. Federal Reserve policies that kept rates low near zero hurt middle class savers, working class savers, and benefitted disproportionately upper class investors in the stock market, widening the social and economic disparities....

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The Wisconsin Republican primary turns out to be the turning point for the Cruz campaign. Following his landslide win in Utah, Cruz wins in Wisconsin by about 14 percentage points, and begins the long journey to close a signficant part of the gap with Donald Trump. Cruz's organization, and the anti-Trump groups efforts, ad spending, helped Cruz in his win. Trump was handicapped by a series of gaffes including one on abortion- saying he would penalize women having abortions- alienating women. Cruz's margin for voters making up their mind on the day of voting, excluding early voting, was higher at about 17 percentage points. Closer media scrutiny of statements by Trump and policy implications, including foreign affairs, European policy, the nuclear issues, happened in the week before the Wisconsin primary. This happens late in the campaign. The weak media vetting of the main candidates Trump and Cruz being lost in the coverage of Trump's sensational statements and twitter comments about wives, for which the media has come under criticsim. ...

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The cash for clunkers program in turning in excellent results bothy in terms of promoting sales and in terms of the mileage improvement for the new cars put on the road. For Motor saw sales up 2.4% over same month 2008 and Hyundai 11% increase. In the light of this and the speed with wihich the initial $1 billion was used up and the $2 billion that was aded by Congress, and the success of the program in Europe, its hard to understand so little money has been allocated to this program as a part of stimulus spending. Senators Feinstein, Collins and Schumer are encouraged by the customer reaction to choose higher mileage vehicles. According to the Transportation Department, the average fuel efficiency of trade ins was 15.8 mpg, and the average fuel efficiency of vehicles traded in 25.4 mpg. Equally significant was that 83% of the trade-ins were trucks and 60% of new purchases were cars. The Ford Focus was the top selling vehicle. Dealers estimate they sold 250,000 cars with the rebate money....

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Because of the proliferation of information and content on the internet, it is the services that help users navigate the content that do well not the content producers. This is one of the big reasons for the continuing failure of AOL and Yahoo. U.S. onine advertising went up to $31.3 billion in 2011 from 2010, according to eMarketer. Yahoo's share of U.S. online advertising will decline to 11% in 2011 from 16.1% in 2009. And AOL's dropped to 2.7% from 4.4%, according to eMarketer. The average cost to reach one thousand views on Yahoo in July 1998 was $25 per thousand, it is $6.50 in July 2011, and was $7.65 in July 2010, according to SQUAD Webcosts. Rob Norman, CEO of WPP PLC's GroupM North America, says he is really skeptical about the value Yahoo brings. He sees it as mostly commoditized inventory, and little that has a unique value to users. Analysts say that over time this problem of falling ad rates with commoditizing of content and proliferation of inventories could be faced Facebook by also....

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Meg Whitman, H-P CEO, repeated her statements that a recovery was four or five years away. She sees little sales growth till 2015 and predicts losses. H-P's share price fell by 13% on Oct. 3, 2012. Whitman said in an interview that H-P has failed to invest in research and development. She was critical of lack of R&D investment under Mark Hurd. But says many of the problems go back to when Carly Fiorina was CEO in 2005 and made the acquisition of Compaq. The acquisition approach has worked poorly for H-P, with lack of R&D within H-P. H-P's financial position also worsened with the $10 billion paid by Leo Apotheker, Hurd's successor, for Autonomy Corp. Internal software systems disconnected costs from revenue, so that in 2011 field selling costs increased by $1 billion even as revenue decreased by $5 billion. A series of management changes made things worse through poor decisions, inconsistency and lack of focus, all of which will take years to correct.

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Exxon has increased spending on exploration and production projects to $37 billion per year through 2016, up from $20 billion in 2009, in an effort to reverse declining production. Exxon's 2012 production will be down 5.7% in 2012, compared to 2.9% decline for Chevron, 2.7% decline for BP, and 2.2% increase for Royal Dutch-Shell, according to UBS analysts. A number of new projects, from Indonesia and Papua New Guinea to the deep waters of Angola are planned to start in 2014. Canada is working on the Kearl oil sands processing facility to generate 170,000 barrels a day. The Kizomba project in offshore Angola will give Exxon 40,000 barrels a day. And the Banyu Urip offshore project in Indonesia 75,000 barrels a day as a 45% owner. Exxon estimates are that these and other projects could increase production by about 880,000 barrels a day, or 22% of current daily output after 2014. The cost of completing projects is going up. The Kearl oil sands project is now estimated to cost $19 billion, an increase of 21% from previous estimates....

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Britain's chancellor of the Exchequer, George Osborne, tells parliament it will be difficult for Britain to avoid a recession if Europe goes into a recession in 2012-2013. He also told parliament that British debt reduction will take longer than planned because of the economic slowdown. This means the British public will have to go through two more years of austerity than previously planned, now upto 2017. Britain will need to borrow an additional 111 billion British pounds through 2015. Britain's Office for Budget Responsibility forecasts economic growth at 0.9% in 2011, and 0.7% in 2012. Debt as a share of GDP will peak at 78% in 2015, instead of the 71% expected earlier. With strong opposition from the unions and a major strike planned by about 2 million workers on Nov. 30, 2011, the Cameron government plans to go ahead with its austerity measures. This includes eliminating 600,000 public sector jobs, and limiting pay increases for public sector workers to 1% for two years after the end of the current pay freeze....

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The U.S. Senate voted 51 to 49 on a Democratic party measure for further reductions in 2012 Social Security payroll taxes for workers and employers, including a surtax on incomes over $1 million. A measure supported by the Republican party to pay for the payroll tax cut by reducing the Federal payrolls was defeated, with half the Republicans voting against it. Democrats hope to use this issue to show Republicans favor the rich over the middle class, as the payroll tax cut benefits most Americans. Polls show Americans by a large majority see Republican policies favoring the rich. A New York Times/CBS poll in October showed 7 of 10 Americans feel this way. Pollster Geoff Garin says the income inequality issue is beginning to override other issues including antigovernment feeling. This is one way in which the Occupy Wall Street Movement's slogan of "the 99 percent" has resonated with U.S. public opinion. The Democratic party sees this as an opportunity to define the campaign issues for 2012, with Republicans running for reelection cautious about being seen this way....