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Watch Macron take the world on a tour of Notre Dame cathedral. "Sublime," "much more welcoming,"  "more light," are words used to describe the renovation that makes the cathedral more beautiful than before. It was become more touristic before the pandemic, dark spaces inside and cluttered outside in the years before the pandemic. The restoration could not have come at a better time from my personal visits to Notre Dame over 25 years, with the organ music lifting one's spirits in the earlier years. It was restored in 5 years, considered an "insane" challenge. The cost 700 million euros. Donations in euros raised from 150 countries raised 846 million euros. 250 companies and hundreds of experts were involved in the renovation. The organ is restored and will be heard in all its joyful music.  The stained windows have regained color and wall reflect light, dark spaces have more light, brightening up the space inside the cathedral. Pipes system with water is installed that will be used to reduce the damage form a fire. Admission will remain free at the insistence of the diocese of Paris. 14-15 million will now be welcome inside the cathedral form all parts of the world.    ...

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One survey in 2021 shows that about 73% of workers in all age groups are feeling burnout since the pandemic started says this BBC report on Work Life. The situation is the worst for young workers in their twenties who have the least work capital and the most work. For these Generation Z workers the burnout rate is higher at 80%. This presents a huge problem for mental health. Across all age groups volume of work is up over 50% with the highest for young inexperienced workers who are pushed to the limit, working late hours and not able to say no. 

This situation shows that so much has happened during the pandemic that mental health is a major priority in 2022 and beyond.

 

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Wal-Mart has fallen behind competitors CVS and Walgreen in its drive to open medical clinics in its stores. Walgreens now has 350 in-store clinics, CVS 600, Target 44, and Kroger 80. Wal-mart has 149 in-store clincs in the U.S.

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The U.S. and China sign Phase 1 of the trade agreement in a sign of reduction of trade tensions between the two countries. Difficult issues of state subsidies under China's state enterprise model of development, and technological competition were put off for the future. China made the deal possible by agreeing to double its purchases of agricultural products, and offering to purchase about $200 billion in American goods and services over the next two years. This gives relief to farmers, a key part of Mr.Trump's support base. This also helps achieve a key Trump and U.S. goal of cutting the U.S. trade deficit with China quickly, just as happened decades ago with Japan.  See the related article and link on how for the first time in decades China's trade surplus with the U.S. is now set on a path for permanent decline. It dropped significantly in 2019 by 12.5% even though China's imports from the U.S. dropped by 21%, based on Chinese customs data released for 2019. With China increasing these imports significantly and the U.S. holding on to tariffs of 25% on $250 billon of China's exports to the U.S. which are outside the Phase 1 agreement, the downward course is set for the next few years for correction of a dangerous trade imbalance. That imbalance was allowed to develop over successive Republican and Democratic administrations. China already has the European Union as its first leading trading partner and south east Asia as its second. China plans to not be so closely intertwined with the U.S. in trade, and yet preserve its state sponsored development model and drive to compete in technology. China's increased purchases from the U.S. of $200 billon are broken down in terms of farm products- $32 billion, manufactured goods- $80 billion, energy products- $50 billion, services $35 billion. In effect the U.S. gets its goal of cutting the unsustainable China trade surplus quickly and with certainty in 3-5 years. China uses the period to transition for less trade linkage with the U.S. yet preserving its state sponsored model of development and drive for technological advancement.   ...

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David Ellison's Skydance buys Free Press site for $150 million and merges with Paramount Global in $8 billion merger to acquire CBS News. Bari Weiss of Free Press is made Editor in Chief at CBS News.

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The mass transit system in Dar es Salaam, capital of Tanzania, cost $150 million and provides transport connections cutting commutes by 2 hours for 400,000 people. 
Dar es Salaam has population 6 million and has grown eightfold since 1980. Four of five people live on the sprawling fringes in informal settlements that take a commute of over 2 hours to city centre. Dar es Salaam has chosen a bus system with dedicated lanes and areas instead of a metro which is costlier to build. The city has only four arterial roads with 2 lanes each way. Most of the growth is on the periphery and unplanned. The Dart System now in place separates the bus lanes from other traffic to reduce stoppages. The average journey from the centre to the terminus at Kimara is now down from 2 hours each way to 45 minutes.saving 50 hours each week for the average bus passenger.

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The National Credit Union Administration (NCUA) files lawsuits against J.P. Morgan Chase and Royal Bank of Scotland (RBS) for losses suffered on $50 billion in mortgage bonds held by the NCUA. The NCUA is the federal regulator for credit unions in the U.S. More than 40 credit unions failed and a large number have suffered losses and are in a weakened condition because of the mortgage crisis. Because of the losses the credit unions have to pay more into the NCUA fund, pay less on deposits and charge higher rates on loans. About $800 million in damages is sought by the NCUA, which would go to NCUA's insurance and emergency support funds.

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Japan, this report shows was in a weak position and was willing to concede- its auto industry could absorb a 15% tariff but the rest of it's economy must be protected. Any economic weakness would be exposed and conditions mght deteriorate in the Japanese economy by letting things go past August 1 and steep tariffs. Luttnick's idea of investment fund was supported by Japan for investing $400-$550 billion in the US with 50% of profits going to the US. Earlier NYT report by Ana Swanson shows the American side of the deal where Howard Luttnick, with experience as a bond trader and on Wall Street, came up with the unconventional idea of an investment fund knowing that the LDP facing elections and  fearing loss of  its majority was unwilling to give DJT what he wanted on some trade issues. Japanese negotiators decided that giving some way on auto tariffs accepting a 15% flat tariff on auto imports was one way to accomodate the Americans and protect other Japanese industries exports from steep tariffs. One would not know this from reading the WSJ, but DJT with Luttnick, Bessent and Greer as negotiators with Akazawa and Ishiba of Japan have won a historic and significant win for America in creating a level playing field in trade. It also sets a precedent for all other trade deals.  ...

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About 900 Arab refugees are crammed into a boat which capsizes 60 miles off the Libyan coast in April 2015, killing about 850 people. This is the worst single incident in an increasing influx of refugees from boats leaving the Libyan coast for Italy. About 171,000 refugees from North Africa made this journey in 2014, and increasing numbers are doing it in 2015 to flee the civil wars in Syria and Libya, and hardship conditions in Tunisia, Eritrea and other sub-Saharan countries.

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Rebuilding Ukraine could end up costing hundreds of billions of dollars with estimates of $138 billion and as high as $750 billion.

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Issues of cost of living and higher taxes in states in the northeastern US and California vs the lower taxes and lower cost of living in the Southern States of the US. Whose side each of the two main parties are on in the US has switched in the period since Harry Truman and FDR in the 1940's. The Republicans represent small business and the less educated in society, the Democrats represent the more educated, affluent sections, and women, the black minority, with Hispanics divided between the two parties. Unions are now neutral and workers in factories lean more towards Republicans. On health care there is a failure for both parties. Both parties have failed miserably with all the lobbying creating obstacles-- to provide cost of living in healthcare. In comparing healthcare and the wealth of societies, it can now be noted that a well funded healthcare system with medicine within reach of the entire population of 1.4 billion people in a poor country like India does better than that of a rich society like the US with 350 million people. This makes a huge difference in the quality of life. Infrastructure investments in relatively far less affluent countries like China and now India make it possible to have better conditions of living relative to the US with infrastructure and transportation from the 19th century still awaiting rebuilding. ...

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See the president address the nation on his 50 years in office, and handing the torch to a new generation, to younger voices.

"Benjamin Franklin was asked whether America will be a monarchy or a Republic he said ; 'A Republic if you can keep it. If you can keep it.' "

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Lisbon tram from an earlier era when it was electrified in 1915, falls apart in 2025. Reports say a cable broke and the brakes failed. It is a funicular tram that goes down 850 feet a steep hill and connects downtown to the Bairro Alto neighborhood. Many comments refer to overcrowding of this tram and the trams being used as part of the city's public transit system. Much of the older infrastructure in Europe needs updating.

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By April 22 2026 a measured and careful response from the US president as the US Naval blockade stays on and US exercises patient waiting. Iran fails to save its economy from disruptions, massive loss of jobs as supply chains fail, and inflation exceeds 50%, two million in job losses. The longer the war carries on and the naval blockade remains in place purely to hold on to enriched uranium for weapon systems and ballistic missiles, the larger the economic losses.

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Water shortages, inflation of 50% and tax increases of 62%, economic protests in Iran and discontent with billions of aid for proxies. The political discontent is fueled by economic discontent and Iranians oppose sending billions of dollars in aid to proxies of Iran in the Middle East, in Lebanon and Yemen, involvement in other parts of the world. Women's protests happened in 2022, and this has merged into the general wave of protests. This Dw.com report says the situation is such that the prime minister says it is "difficult to govern the country." A year ago in Jan 2025 the currency Rial was 820,000 to 1 US Dollar, in Jan 2026 it is 1.45 million Rials. This makes everything harder to import.

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50 Economists are surveyed by WSJ from banks and universities to small consulting firms. The consensus is that unemployment will remain the same and inflation a bit higher (2.9% instead of 2.6%) if the war is temporary. At what price point and for how long does it cause problems of a recession? The price point is in the region of $138 and in the region of 14 weeks. Inflation predicted at 2.6% is now estimated to increase to 2.9% in this survey March 16-March 18. The attack on gas and oil fields in Qatar, UAE, Saudi and Iran may pose a different kind of problem making it harder to repair than the Straits of Hormuz closure which could be opened at any time and allow tanker traffic to resume supplies.

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Nearly 9-10 million Indians work in the Persian Gulf kingdoms. They are affected by the war with Iran. About 1 million have returned to India during the current war in 2026. About 2.2 million of the 9 million are from Kerala state in southern Indian coastline with cities such as Kochi and Thiruvananthapuram the capital. Of the $50 billion they send back as remittances to India Kerala gets the largest amount among the states in India. As aresult this is affecting the state economy. Many people in the Gulf are being laid off as the Gulf economies are hit by the war. Recovery will be strong in 2027 only in Saudi and UAE (Emirates), others Kuwait, Qatar, Bahrain, Oman will take much longer to recover according to some forecasts.

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Adani Group plans to invest $20 billion in renewable energy over 10 years. Modi has set a goal of 450 gigawatts for India. 

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Chile's new constitution that replaces one written in 1980 under military rule, is likely to be rejected in a vote on September 4. It puts every conceivable right into the constitution beyond the basic rights of fairness in the economic, in incomes, in health and education services access, and pensions the original reasons for the two years of protests. About 80% of the Chileans voted in members of the constitution drafting boy the Convention. About 47% say reject and 38 say accept, 17% undecided at this time in a poll cited by DW.com. Controversial are judicial setup for indigenous groups (13% of Chileans), abortion in a predominantly Catholic country, and women holding 50% of positions in all public positions as mandatory, and the environment in a predominantly copper export based economy.

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India is becoming a major destination for foreign investment in manufacturing in many industries. The youth population 15-24 now exceeds that of China. Over the period 2015-2019 the number of youth 15-24 will increase to be close to 250 million in India in 2019, compared to a rapidly declining youth population in China of little over 150 million in 2019, according to the International Labor Organization. China's one child policy, investigation of multinationals business practices, and increasing wages in manufacturing, are reducing its attractiveness for foreign investors. Other destinations such as Russia are less attractive because of the economic crisis after falling oil prices. India also benefits from the large drop in oil prices to help reduce its chronic deficit and lower inflation- significant dividends at a critical time. Raghuram Rajan, head of the central bank, estimates the gain from the drop in oil prices at about $50 billion. Indonesia also benefits from the same trends. Prime minister Modi is reducing the bureaucratic structures and red tape that are a legacy of the Congress governments since independence in 1947, creating a new climate for business investment. ...