LyrArc Article Gist
New Democracy has 22% and Pasok 18% in polls before the Greece elections. A New Democracy-Pasok coalition is one possible outcome of the election. New Democracy leader Samaras sees a coalition government as tying his hands for policy actions, and feels he can win another election if it took place later this year. By then the thhinking goes Greeks will have vented their anger and will be looking for a stable government. Both parties have seen supporters shift to fringe parties with 22% unemployment and rising taxes.

LyrArc Article Gist
 

Changes proposed by Labour's Gordon Brown and Keir Starmer of Labour for the UK now strive for-

"The goal of an irreversible transfer of wealth, income and opportunity to working families across the UK is dependent on the irreversible transfer of political power closer to the people, the two go together."

"This Commission is demanding a new economic and political settlement to ditch a century of centralization, the over concentration of power in Westminster, and call time on the era of "the man in Whitehall knows best."

LyrArc Article Gist
During a 3 and half hour discussion at the Chief Minister's residence in Lucknow Mr. Modi meets the entire Council of Ministers and Mr. Adityanath. All move up close as Mr. Modi gives lessons on good governance, time management. He held free wheeling discussions with ministers and told them to differentiate between "karya" work and "Karykram" events and programmes,telling them to focus first on "karya" work and later to "karyakram."

LyrArc Article Gist
Charlie Rose talks to Paul Ryan, the Republican Congressman from Wisconsin on his "Roadmap for the Future" and a major overhaul of taxes, spending, Medicare and Social Security. He tells Rose, who hosts a news show on Bloomberg TV, that in 2010 he is all by himself looking at the big picture for shaping ideas on economic reform, and still hopes others will join him in this effort.

LyrArc Article Gist
Christopher Eubanks of the US wins over Britain's No. 1 Cameron Norrie at Wimbledon. After some doubts about a tennis career during a period when he did not make it to the top 100 Eubanks wins the Mallorca Open, and wins a place in the quarter finals at Wimbledon after a 5 set win over Stefanos Tsitsipas. He finds surprising help from the grass surface at Wimbledon that fits his game.

LyrArc Article Gist
Greg Jaffe and Patrick Marley tell the story of how the mask mandate in Michigan had the unintended effect of splitting the administration of a historically conservative Republican county in Western Michigan. Ottawa county in western Michigan is close to Grand Rapids and includes the cities of Grand Haven and Holland, with Dutch Calvinist roots. The mask mandate led to Mr. Moss getting into politics after it led to the closure of a Christian school that did not adhere to the mandate where his daughters studied. He founded a political organization Ottawa Impact with private donated funds that won the local election with eight of 11 seats in the County Board of  Commissioners. And decided the only way forward was to replace the entire civil administration in Ottawa County. Courts have prevented the firing of Ms. Hamble running the environmental division of the Health Department.  Ms. Hamble has many years of experience in her field and says she is acting professionally to protect health sanitation for the local community. The result is an impasse and much acrimony in a traditionally Republican county with unique Dutch Christian roots. This NYT report sees this as something that is taking place in many such places all across America- ideological differences turning into divisive discussions. ...

LyrArc Article Gist
The former president having 81% of the vote for non college educated in the primaries and  small percentage of votes among college educated means that if elected it would be that a whole population of college educated people are being effectively disenfranchised in choosing the government. It means that democracy that took over 200 years to include people with less education and income in selecting a government has moved in 2024 to doing the opposite excluding the educated with all its implications for good government of such a lopsided state of affairs. A recent poll shows 81% of Haley's 250,000 votes in the Republican primary would not vote for the former president. Haley won moderates by 61% to 31%. Trump won those without a college degree by 82% to 13% for Haley. Trump support huge in rural areas, Haley's in the suburbs.This shows how different this Republican party is from that even as recent as 2015. In fact Gallup has found that in 1999 the Democratic party was a plus 14 percentage points for non college educated and in 2024 the Republican party is a plus 14 percentage points for non college educated. Among postgraduate educated the gap was 8 percentage points in 1999 and now has widened to where Democrats have 60% to Republicans 21%. ...

LyrArc Article Gist
Tara Parker Pope of the NYT has this advice about protecting yourself against coronavirus variants after talking to many infectious disease and other experts. Don't let your guard down she says and suggests some of the same precautions that were taken in earlier waves of the coronavirus, from masks to social distancing and prudent decisions about travel and shopping.

Vaccines offer protection against common coronavirus variants such as B.1.1.7  from UK. It is still wise to follow the prudent rules that were followed before.

LyrArc Article Gist
Foreign Ministers of India and China, S. Jaishankar and Wang Yi call for diplomacy and negotiations to settle the conflict in Ukraine without it having to spill over and affect poor and developing countries in insidious ways through food and other shortages.

LyrArc Article Gist
China's central bank reduces its reserve requirement ratio, required money set aside by commercial banks and not used for lending. It lowered by half percentage point to 13% the amount of reserves Chinese banks are required to set aside. As the economy has cooled recently with trade tensions with the U.S., China's growth has slowed to 6%. The move frees up $126 billion for lending. In a speech this week president Xi used the word "struggle" over a dozen times. The State Council has plans to allocate more money for vocational training, to expand railways construction.  Analysts of S&P recently estimated China's economic growth over the next decade at 4.6% on average if the trade dispute gets to a stalemate, if trade dispute worsens it could drop to 3.7%. The trade dispute has dampened the mood at China Development Forum in Beijing, with attendees saying the distrust between the U.S. and China is based on deep concerns about each other. Besides the lending increase planned, the central government is pushing local governments to find projects to create jobs. Local governments fear this would worsen the already high debt burden they carry. ...

LyrArc Article Gist
Germany's modernization plan for bureaucracy and red tape  a major priority for  Merz with savings of $175 billion. Efforts to have a policy aross all state govenments and federal governments that cuts bureaucratic reporting and documentation requirements at least by one third. Other actions-

emails replace paper documents

one time data collection and faster approvals if the authorites have not cleared it in 3 months it is automatically approved

The population wants reforms; they want to overcome the stagnation," says Kretschemmer, premier of the state of Saxony.

 

LyrArc Article Gist
Less than 1% of the electorate or 160,000 members of the Conservative Party in Britain that are now electing a new leader to lead Britain are supposed to decide British policy. This happens as the COnservative Party wins only about 11% of the vote in the European parliamentary election. During the last election the Conservative Party needed the support of a small party from Northern Ireland to form a government.

Here the WSJ shows how a group of older voters in the Conservative Party are choosing a leader to lead Britain. There is a sense that this group fails to reflect the views of the country of 60 million leading to a short lived Conservative government and fresh elections.

LyrArc Article Gist
Indian rating agency Crisil says expeditious settlement of stressed assets in India's banking system is needed for the private sector to play its part in the country's infrastructure development. In the last 4 years much of the effort in infrastructure was undertaken by the government. Crisil CEO Ashu Suyash, says Rupees 50 lakh crore needs to be allocated for capital investment in infrastructure for the 5 year period 2018- 2022. About Rupees 3000 crore investment per day is required. In addition to improving the banking system, other actions needed are new private-public partnership efforts, front ending of projects, and a deepening of the infrastructure financing system. Infrastructure investments have suffered from lack of investment in India and this should be a top priority for the government, say experts. This includes tapping into pension and insurance funds under new arrangements. The central government has announced a 7 lakh crore investment plan to build 83,000 kilometres of highways by 2022. Crisil has developed an "investability index" to track and measure the attractiveness of such projects.   ...

LyrArc Article Gist
Career changes through music, fashion furniture, leads to interior design for Brigette Romanek in Los Angeles. She remembers women who were strong in her life as she moved to different cities, her aunt, her grandmother. She says she learned from herself that she would not give up. she also learned she was creative. An episode in which she designed hand bags led to her realizing how important it was for people to feel good, feel confident. 

She says she likes to work late at night when it is really quiet. Romanek loves design from the 60's and 70's  and classics from that period, shapes from that period that were simple but fun. She talks about a large olive tree in a room, for calm and grounding. The indoors going outdoors as concept. Bringing positive moods in people's minds through objects of beauty.

LyrArc Article Gist
JP Morgan Chase will modify the terms of $70 billion in mortgages for borrowers who are behind in their payments or expected to be. This covers 400,000 borrowers. The focus is especially on a type of loan structured so that the monthly payment increases, and Chase inherited $54 billion of such loans with the takeover of Washington Mutual in September 2008. Some of these loans are called options adjustable rate mortgages where borrowers can make payments that don't even cover the interest costs, resulting in increasing the loan balance. Chase will replace the options ARM's with fixed rate loans.In taking over WaMU, Chase had a large exposure to the California housing market. WIth WaMu CHase ended up with $16 billion of subprime mortgages. The mortgages that Chase will modify for this plan with affordable payments make up 4.7% of the home loans it owns or are serviced by Chase's EMC Mortgage Corporation. So this is a good start but a lot remains to be done. Chase's Scharf who heads the retail division said that Chase had heard loud and clear what the thought leaders in the country are saying, and wanted to provide leadership on this issue to the whole industry as it does'nt make sense to wait. About 7.3 million American homeowners are expected to default on their mortgages from 2008 to 2010, and about 4.3 million homeowners lose their homes, according to Moody's Economy.com. While opinion leaders like FDIC's Sheila Bair and Reagan adviser Martin Feldstein have called for government help to prevent foreclosures from the early months of 2008,and FDIC has considered about 40% of current monthly payments the affordable amount for loan modification in IndyMac FDIC modifications, neither the Bush administration, banks or companies in the mortgage industry have taken any leadership on this issue. And now Scharf says it makes no sense to wait, in effect a signal to other banks to do the same. Scharf also said the stronger you are the more easier it makes to take these decisions suggesting that the $25 billion in government funds it received helped it reach this decision on this plan, which makes a lot of sense for the banks because foreclosures are the worst way to recover money with bad consequences for all parties and disastrous for the US and global economy....

LyrArc Article Gist
The Paris climate change agreement involved 195 countries. Agreed to on December 12, 2015 it was seen as a major step forward to limit global warming to 2 degrees celsius or 3.6 degrees Fahrenheit. Progress has been slow in taking action since then. Because of covid 19 the Glasgow conference was cancelled. Hope stems from the goals set for carbon neutral economy of Japan, the EU, UK, China, and the U.S. as it enters the agreement after withdrawing.  Much will depend on action taken as the pandemic has pushed economic goals of recovery to the forefront. As India has shown in renewable energy, particularly in solar energy targets and bold vision, there is a lot that can be done by each country acting on its own without the hype of the agreement. India now sees huge opportunities in solar energy because it is cheaper and pollutes less than coal. This is a game changer that comes from investing in new technologies and taking advantage of India's abundant access to sunny weather and the lower labor and other costs. ...

LyrArc Article Gist
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. ...

LyrArc Article Gist
A dairy farmer in Petaluma, California, shows that storm water runoff capture is worth the effort. He has collected 670,000 gallons of water so far this winter enough for 700 cows in his herd for 1 month. Governor Newsom has ordered the state of California to collect storm water runoff from rain storms that happened this year following three dry years.

Researchers say that water runoff is a serious proposition. About 2.5 million people can have enough water for 1 year if the water is collected in southern California and the San Francisco Bay area.

LyrArc Article Gist
Most people do not know that the site of the nation's capital was a land of wetlands, marshes and creeks when George Washington chose it as the site for a new capital. Rock from quarries filled the wetlands to create the fill site compacted for the National Mall. Engineers working on a new museum worry about the land where the Washington Monument stands, for the Federal Triangle area, a low lying are between the White House and the Capitol. The Post looks at this area in this exceptional report on the nation's capital.