LyrArc Article Gist
Apple's senior vice president Eddy Cue, says all of the textbooks on the iPad will be priced at $14.99. The way this works is that McGraw Hill instead of selling the textbooks to public schools for $75, will sell the book to a student for $15 for one year. At which point he can keep the digital copy but cannot resell it or pass it along to another student. New students will have to buy a new digital copy. Apple will get a cut on sales which could be about 30%, some of this will be made up from the absence of printing and distribution costs for McGraw Hill.

LyrArc Article Gist
Theo Lubke was head of the Financial Infrastructure Department in the Banking Supervision Group, and was a key member working for reforms in the derivatives market. He oversaw efforts at the Fed to have Wall Street centrally clear trades in credit default swaps, which helps control the risk of a firm's failure. Lubke will join Goldman Sachs as a managing director in the securities division, and will help Goldman implement the facets of regulatory reform legislation. Prior to his 15 years at the New York Fed, Lubke worked on the staff of the National Economic Council under President Clinton, and worked as an investment-banking analyst at Lehman Brothers.

LyrArc Article Gist
As remedies for the $1.6 trillion federal budget deficit for 2010, which says Hubbard threatens to compromise Americas economic future, set agggressive targets for reducing discretionary spending limiting growth to 2%. Hubbard also wants to see 1% reduction in projected entitlement spending growth for Social Security and Medicare. This can be done progressively, he says, by lowering the growth in spending for middle and upper income households and strengthening the safey net for lower income people. And third he would have a broad based consumption tax to pay for added social spending. Hubbard was adviser to president George W. Bush and is Dean at Columbia Business School.

LyrArc Article Gist
Over the last ten years average growth in real per capita income has averaged 1.6%, with declines only in two years of the last twenty years, 2008 with the global financial crisis, and in 1991 a year before President George H.W. Bush lost the election to Clinton. A forecast by Mark Zandl of Moody's Economy.com shows real disposable income per capita is expected to increase by 0.4% by the end of the third quarter of 2010 from a year earlier. This will show up in consumer spending and will weaken the recovery. It is also likely to be reflected in elections in the latter part of 2010.

LyrArc Article Gist
Reps. Eric Cantor (Va.), Kevin McCarthy (Calif.) and Paul Ryan (Wis.) have jointly written a book "Young Guns," that completely distances the new leadership in the Republican party from the leaders of a prior generation. The book says the older Republican leadership "betrayed its principles," by not controlling spending. See the the link to David Stockman who has criticized previous Republican administrations for their attitude to spending, including President Reagan. A recent NBC/WSJ poll shows only 24% of those polled seeing the Republican party positively. The idea is to differentiate the younger leaders as new voices in the party, different from the party's previous role.

LyrArc Article Gist
Bernanke defended the Fed's QE II decision to buy $600 billion in Treasury bonds, at a central bank conference in Frankfurt. He said "the US risks millions of people being unemployed or underemployed for years and as a society, we should find such an outcome unacceptable." Rebutting the Germ, Chinese and Brazilian criticism, he said the policy would maintain a strong dollar over the long run. Senator Shelby told reporters, Bernanke estimates creating 700,000 to 1 million jobs over the next 2 years. Philadelphia Fed President Charles Posner said that he was very concerned about unemployment, but was "worried that monetary policy isn't the right set of tools at this juncture."

LyrArc Article Gist
Pena Nieto, the new president of Mexico, says that this is a new generation and a different PRI party from the one in the past. His focus is to learn from efforts made by countries such as China, Brazil and India in modernization and reducing poverty, so that Mexico can fulfill its potential. His goal will be to avoid ideological positions and patronage, and achieve measurable progress against poverty in Mexico. He cites the Mexico's Office of National Statistics figures showing Mexico's growth rate at 1.7% for 2000-2010, and the lack of reforms in the energy sector, labor markets, education and social security.

LyrArc Article Gist
Questions about the U.S. raid at Abottabad on May 1, 2011, that killed Osama Bin Laden. Was a Pakistani military helicopter involved in the raid as the Pakistanis say. President Obama said that the U.S. did not trust anyone, especially knowing where he was located. Abbottabad is 40 miles from Islamabad, and the location of a Pakistani military academy. Obama's statement that no intelligence was shared with the Pakistanis makes sense till the next question that comes up immediately.That question is how American helicopters took off close to the Osama compound- in an area with a large military presence- without the Pakistani military knowing.

LyrArc Article Gist
Janet Napolitano, president of the University of California, says the Obama plan for ratings of colleges in the U.S. will not add much value because much of the information is already available. More important she says is to tackle the bad actors in education leading to high student debt. She says she will cut costs by a couple of hundred million dollars in the next few years, and will keep pushing on costs as there is a natural tendency to revert back. With less state support the UC system is admitting a larger number of students from out of state who pay higher tution.

LyrArc Article Gist
This editorial in the NYT on May 23, 2015, says the government of president Erdogan is continuing its suppression of the media in Turkey before the parliamentary elections in June 2015. In the last parliamentary elections in 2015 Mr. Erdogan's AKP party won 326 seats, 4 short of the three fifths majority needed to have a referendum on a proposed change to the constitution. The editorial points out that the actions against the media only weaken the fragile fabric of democracy in Turkey following a decade of the AKP in power, when the country needs to have an open debate on competing economic and social policies put forward by different parties.

LyrArc Article Gist
A unit of Russian JSC Russian Railways signs a contract with China Railway Group for the design of the 770 kilometer high speed rail connection between Moscow and Kazan, in June 2015. The cost is $383 million. The actual construction link will cost $19.5 billion. Russian Railways President Vladimir Yakunin says the construction contract will go to the bidders who can provide the best financing. Chinese banks have signed agreements in 2015 to provide $25 billion in financing for Russian companies. China is keen on using its high speed rail technology to expand in other countries and this contract is being pursued vigorously by Chinese companies.

LyrArc Article Gist
Faces of ordinary Argentines in Buenos Aires, as Argentina faces high inflation following a devaluation of the peso by 17% in early 2014. Argentina has faced recurring crises of devaluation of the currency and high inflation, in 2001 and a decade earlier under president Alfonsin, and in periods stretching back to the period after independence from Spain. Brazil had recurring bouts of inflation and devaluation of the currency which was followed by a buildup of foreign currency reserves during the recent boom in commodity markets. This has helped Brazil keep inflation under control, better than the situation facing Argentina with much smaller currency reserves.

LyrArc Article Gist
President Yudhoyono picks the former finance minister and central bank governor Boediono, a respected economist, as his running mate for elections in July. Indonesia is still growing at a rate of 4.4% from a year earlier, down from 5.2% in the 4th quarter. As economy minister till earlier this year Boediono was instrumental in getting a popular program to give $20 a month to Indonesia's 19 million poorest families, reaching about a third of the country's 240 million people. This is similiar to programs in place in Brazil and India, though the Brazilian program works with incentives for parents to send their children to school.

LyrArc Article Gist
Geithner and Summers two men mentioned for Treasury Secretary have different styles but actually have worked together for many years and Rubin/Summers have helped Geithner get promoted to New York Fed President. Geithner style is more congenial and soothing as he respects others opinions, asks good questions every time based on a prepared structure and listens carefully whereas Summers tends to discourage people from speaking up with his style. See Geithner's prepared structure of questions in the link which reveals his style. He tries to get the best informed people to unfold their thinking and listens to them one by one improving his understanding from different angles.

LyrArc Article Gist
Professor Patterson of Harvard University has some serious observations on what has happened and what could be the way forward in America as it faces the lack of opportunities for a better life for minority communities trapped in cities with a deteriorating quality of life.  Between 1985 and 2000 a higher percentage of black children, about two thirds of black children, grew up in high poverty segregated areas than in the period between 1955 and 1970, according to a Pew Trust study of 2009. This affects everything from social mobility, life chances, potential for downward mobility. Particularly so because by 2016 the gap between black and white incomes has worsened, says professor Patterson. With this segregation has become worse in America at the level of neighborhoods where people actually meet, he says, citing a 2015 paper by Daniel Lichter of Cornell University.  In some ways segregation says Dr. Patterson is worse than in the 1960's. This could be because of downward social and economic mobility. Events such as the mortgage financial crisis of 2009 with bad decisions by the banking industry disproportionately hurt the black and minority communities. The trade imbalance and shift of manufacturing overseas hurt manufacturing jobs for white and black communities. Weakness in education and health services also hurt poorer communities of all races and color. In some ways the work of presidents Harry Truman and Lyndon Johnson in the 50's and 60's may have created more hope and a sense that "a rising tide lifts all boats" in economic opportunities that may have been lost in the work of presidents after Clinton with loss of jobs in manufacturing for ordinary black and white Americans alike. The bad decisions by the banking industry and selling of bad mortgages, worsening health care options with overpricing in the medical field, all compounding the effect on  ordinary Americans. In a separate interview in the Harvard Gazette professor Patterson says de-ghettoization, moving to the suburbs is one way to better opportuntiies in the suburbs. For this to happen more moderate income housing is needed in the suburbs. A cultural change in attitudes comes with a shift to neighborhoods where communities can interact and meet. For this to happen strict zoning laws that prevent moderate income housing in suburbs such as in California and many other states needs to change. As professor Orlando Patterson says here in the Harvard Gazette and in the WSJ more Americans with liberal views need to put their money where their voices are. A stronger economy, education for changes in cultural attitudes in classrooms, cultural literacy, more manufacturing in America to create better middle class wages and jobs for Americans of all communities giving industry a role, and more of the affluent putting their money where their voices are for better integrated living in the suburbs not just for a few, are ways to bring better life for Americans.   ...

LyrArc Article Gist
Changes in Iowa in the Des Moines Register-Selzer poll in the last days of 2024.

This poll shows-

The Democracy issues raised by president Biden have traction in the state of Iowa, as this is the No. 1 issue cited by people supporting Harris and Biden, by 51%. Abortion comes next at 22%. 

It also shows the Economy and Cost of Living was the No. 1 issue for traction for Republicans in Iowa it being cited by 49% of Republicans. Immigration comes next at 25%.

Harris support among older Iowans over 65 years who almost always vote at 55% to 36%, and by voters under 35 years by 46% to 44%. 

97% of Democrats support Harris, 89% of Republicans now support Trump in Iowa. 

LyrArc Article Gist
Germany's leading candidate for chancellor Merz gets an exemption for Germany to EU Common European Asylum System (CEAS) asylum laws for National Security reasons. The goal is to tight Schengen border controls to keep out illegal migrants.  EU president Von der Leyen calls Merz action on CEAS  asylum laws "innovative solutions." Germany takes U turn on asylum law as public opinion shifts with a series of crimes committed by illegal migrants allowed to stay in Germany including car rampages through crowds on streets, most recently in Munich. A sense of fatigue in EU with illegal migrants and a desire for normalcy, the old way of life, and secure neighborhoods and urban spaces. It is now seen in CDU as Merkel's policy errors and failure of judgement in letting in a flood of illegal migration.

LyrArc Article Gist
Iran War and rescue of pilot of downed F15-E in mountainous terrain in southern Iran April 4 2026. CSAR or Search and Rescue Missions become a critical part of the war. The pilot was a colonel trained for the mission and spent 24 hours in mountainous terrain which was monitored by US forces, after intelligence located him in a mountain crevice. For this to be possible unlike in the Vietnam War and Korean War other nations are not involved as in the earlier Cold War.  The US under DJT as president has shifted to respecting Russia as a Northern European power that it can talk with (meetings with Putin in Alaska 2025) and China as a trade partner (planned meeting in Beijing in April 2026) that it can talk with unlike with previous administrations of Biden, Obama and Bush where China had afree hand in economic matters and global trade and Russia was shut out of the world economic system by elites who ran the government in the US at that time. Russia seeks reintegration in the world political and economic systems, and China seeks acceptance as an economic power which the US respects, both points in which the US has offered to accept. US has also repeated the line to China that it was not going to do the job of keeping Hormuz open for China and Japan to get 90% of oil imports, and in oding so risk losing its soldier's lives, while China and Japan can quietly watch doing nothing to help free navigation of international waters. Note that the narrowest strip of water of 13 miles separates Oman from Iran so that a part of these waters are on the Omani side and not on the Iranian side making free use of that Omani part under international law possible- in which sense Iranian hostile activity closing the Omani side also is a violation of free navigation. This is not pointed out by Iran or Japan or even Britain who are benefitting from US action and remaining silent or being ambivalent or accusing US of being interventionist even when everyone knows MAGA base rejected Bush in the Republican party and the elites and embraced DJT for great part because they want nothing to do with interventionist adventures in the Middle East for certain. US is getting a bum rap from European allies and from China, India, Japan and the media inside the US and in those countries as if the US seeks oil from the Middle East. It was Britain where a lot of the posturing goes on about non intervention that started this oil based intervention since 1900 in Iran itself, and in artificial states of Iraq, Syria, that it created out of the collapsed Ottoman Empire in World War 1. Sykes and Picot were the US and French diplomats who set that up. US under DJT has accomplished self sufficiency in oil and US has no need for anything from the Middle East, no desire to even get involved, and MAGA well grasps that fact and wants to keep it that way. Only nuclear weapons and ballistic missiles with long range to hit US and EU are reason for US action, which is reason enough for EU, China, Russia to set their own goals so that non proliferation in dangerous areas is prevented. So that the people of China, Russia, India, Europe and the rest of the world can enjoy the fruits of their own labors after a century of severe hardships and struggles which the American people if not their elites respect, and the fruits of peaceful cooperation which the American people extend to the World, and to China, Russia and India. ...

LyrArc Article Gist
The tendency for European left traditional parties to take on the ideas of the populist politicians, "parroting" them in the words of EU Commission president Juncker, is the topic of this article in Der Spiegel, It says Emmanuel Macron has the right idea of speaking up for the European Union, and what has been accomplished in the last 3 decades. This article gives a picture of the difficult days before the euro with repeated devaluations in Portugal and Italy, hurting pensioners and workers, and small business, that people have conveniently forgotten or have short memories to recall. Der Spiegel points out that the populist politicians say Brussels has too much power, yet fail to realize that some of the problems come from the eurozone being run on the basis where all 19 finance ministers of the countries in the eurozone make the important decisions. And these finance ministers have their own interest groups back home and national budgets as their dominant considerations. The journey itself to the future is important says Spiegel, going back to the past is not a solution, however useful it is for political calculations of politicians. ...

LyrArc Article Gist
Michael Phillips of the WSJ provides a profile of typical Donald Trump supporters, a couple Joey and Tina Elias, driving from Alabama to Pensacola, Florida to attend a Trump rally. Joey, 46 years old, lost his job in 2010, and has since worked at jobs a little above the minimum wage. Tina, 44 years old, is assistant director of a daycare center. They have worked hard to build a house on a 3 acre plot of land, after living for several years in a mobile home. They have 2 children, and Joey says he has to worry about job security before making any purchases. They are against free trade, as its not seen as favoring working Americans. They favor a strong military, because they see president Obama as defunding the military and weakening America overseas. They say they are not racially motivated, believe in God, but not church going. They don't feel strongly about social cultural issues, believing in live and let live. They say they like Trump not because he is saying anything new, only because he has voiced their concerns, they have felt this way for a long time. They want to see America winning- and to win as the country wins. What is striking is that the couple face some of the same job insecurity, and the paycheck to paycheck job insecurity and fear of losing what they have with job loss, that is being felt by average working Americans after the 2009 economic crisis. On the Democratic side Bernie Sanders is gaining support from white working class people who share the same anxieties about economic insecurity following the 2009 economic crisis....

LyrArc Article Gist
President Trump wants to see China lower fentanyl exports to the U.S. because of a worsening opioid epidemic. The trade disputes extend into areas that have no direct connection but affect the U.S. and Mr. Trump's commitment to tackle this issue.  This report says president Trump expressed dismay on this issue.

LyrArc Article Gist
US is shutting down 10% of airport traffic because of government shutdown in November 2025. Democrats are holding up the passing of the new budget till Obama's Affordable Care Act healthcare subsidies for low income Americans are restored. Republicans who control both houses of Congress are unwilling to restore these subsidies saying it will cost $350 billion over 10 years. Editorials in the Washington Post in November see Obama's Affordable Care Act as a bandaid approach for a broken healthcare system in the US. Public opinion in the US supports this assessment. Trade unions and labor have called for an end to the government shutdown. Democrats are acting as though the party is for low income Americans and labor yet this is not the party of FDR who fought hard for labor over vested interests, Democrats today are the vested interests whether from Tech which is taking a disproportionate share of the Nation's wealth and resources and pouring it into projects that do not reduce the cost of living or rebuild crumbling obsolete infrastructure, or from Banks which were not sanctioned for their part in the 2009 financial crisis, or from healthcare interests that oppose restructuring the entire healthcare system for fairness in insurance, pharmaceutical pricing and wellness. Republicans are making an effort to displace Democrats in the role of FDR and Lincoln under newcomer DJT who rejects both the incompetent Bush (Republican) and Obama (Democrat) administrations that wasted money and resources in foreign wars while overlooking America's many challenges and strengthening foreign powers including China, while weakening the US. The US government is cutting airport traffic to relieve unpaid traffic controllers. Also at risk are SNAP benefits which are for the loew income Americans. The US president is asking the Senate to drop the filibuster rule which requires 60 votes in the Senate for the biudget to pass it and pass it by majority vote. The Senate Majority Leader Republican Thune wants to keep the filibuster because it acts as a brake for hasty legislation passed by whichever party is in government. ...

LyrArc Article Gist
Stephen Miller, as both intellectual and organizer, is shaping policy on immigration at the White House as adviser to Kristi Noem, head of Homeland Security. He is a dedicated follower of DJT and White House deputy chief of staff. He also brought Prof. Navarro to the attention of DJT on trade policies.  He was a key figure in the first DJT administration at the age of 31 having served as communications secretary for Senator Jeff Sessions and developed his ideas during the period with Sessions. As director of speech writing and senior adviser to DJT,  he wrote some of president DJT's policy speeches in the first term, the speech to the Republican National Convention 2016 , and the Inaugural Address of 2017,  including the speech on Jan. 6th 2020 following the storming of the Capitol building.  Who is Stephen Miller? He comes from a Jewish family that immigrated in his grandfather's generation in 1903 to Ellis Island from Belarus, during a period of discrimination in Russian regions. During the period on campus at Duke University where he graduated in Political Science, Miller was a follower of a prolific author, David Horowitz. Horowitz was part of the Jewish leftist intellectual movement in New York in the post war period, but after the 1980's joined the Reagan movement and questioned the ideas he had believed in, questioned what he saw as the antisemitism on US campuses. At Santa Monica public school in California in 2000-2003 Stephen Miller questioned the multiculturalism that replaced the America of the founding fathers, that he saw at the school. It is this perspective that also underlies Stephen Miller's ideas about universities, about immigration, about the economy and China under Bush, Obama and Biden. Miller is also an organizer as he set up the America First Legal in 2020 with funding from donors on the right which has filed many lawsuits during Biden's term in office.  ...