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DW.COM Original article ›
WSJ Original article ›
LyrArc Article Gist
Working mothers in the UK and other parts of Europe did better than working moms in the US when it comes to not dropping out of the workplace. Many mothers in the US dropped out as schools closed and businesses closed. In northern and western Europe fewer women left the workforce during the pandemic. In this sense the European policies to protect jobs by paying workers to furlough did better to help mothers keep a foot in employment even as they did home schooling.

Traditional approaches of paying unemployment benefits for longer used in the US did not keep women attached to work, which would allow them to recover more quickly. Much can be learned in the US from this. The proportion of women working actually rose between 2020 and 2019 in Germany, Netherlands and Norway as the government subsidized wages instead of paying unemployment benefits for longer periods.

Lessons of Libya

Wall Street Journal Original article ›
LyrArc Article Gist
During the early weeks of the Libyan people's struggle the Wall Street Journal was one of the rare voices that stood up for freedom in Libya, saying the U.S. had to have the will and was not so overstretched that it could make a difference working with its allies in NATO. It took some time for the Obama administration to make up its mind by which time the Gaddafi forces would have entered Benghazi. It was the leadership of Sarkozy of France and Cameron of Britain that made the decisive difference at the right time. And as the tide turned it was the young people of Libya who could be seen in the video footage who showed bravery against the organized heavily armed forces of the Gaddafi regime. The lesson from the U.S. support for the Libyan people's movement for democratic government is that the U.S. can make a moral difference and a strategic difference when it follows the right instincts that have guided the country since its founding.
Wall Street Journal Original article ›
FRANCE 24 Original article ›
LyrArc Article Gist
The astounding fact in this French FR24 report on the Paris Climate Change Agreement and country carbon emissions show that China's emissions accelerated to rise 3 fold in 2015 to about 12 billion tons of carbon emissions from about 4 billion in 2000. US remains at about 6 billion. India is at about 3 billon tons of carbon emissions, about where China was in 2000 when it had about 4 billion tons of carbon emissions. This is shown in the graph on carbon emissions from FR24. The US, European Union graph curves on tons of carbon emissions since 2000 are all flat or declining, India rising slowly from a small base, China's curve is rising straight up from a large enough base at an unbelievable and dangerous rate. What has happened and is it getting worse? China's economy expanded too quickly as globalization was accelerated by banks, and business in the US and Europe, and by the Chinese governments at the local level and the state level. This had negative consequences for US, Europe and China. The too fast growth in China at rates of 10-15% based solely on False GDP indicators that did not take into account damage to the environment and workers was that it hurt manufacturing and working class in US and Europe and contaminated the environment. This was not like growth of Japan in 1960-1980, a smaller country in the way it affected the US and European working classes. Hyper Growth at 10-15% of a large country with 1 billion people compressed over a short period, is cited by Greg Ip in the WSJ as the cause of the negative impact on America.  It hurt China through pollution of rivers and land at an accelerated pace. It hurt China as trade with US and Europe became unsustainable with the loss of manufacturing in the US and Europe leading to a trade war. From these graphs of emissions it now appears that the 3 fold rise in carbon emissions from about 4 billion tons in 2000 to about 12 billion tons in 2015 is the result of unregulated business activity of all those who preferred to push hyper growth in China purely for reasons of profit such as investment banks and corporations in US, Europe, and state or local companies in China.  This has also aggravated inequality in US, Europe and China, and hurt rural populations. Xi Jinping is attempting to correct this in China, Biden is trying to correct this in the US, and Scholz will now attempt to correct this in Germany and the European Union. It is also to be noted that China in 2000-2015 did not have the benefit of the newer technologies that India now has access to, which is why India says it is able to reduce carbon emissions per each unit of GDP by 35% from 2005 levels by 2030. It is this efficiency in producing units of GDP with newer and newer technologies that China lacked in its period of hyper growth 2000-2015 that now looks to have hurt China- with overflow of highly polluting steel mills and other factories which it would prudently and wisely have cut back on. Looking back at this period one sees the wholesale transfer of highly polluting plants in Germany being sold and put up in China, a poor developing country in 2000. Was this a good decision for Germany or for China? In this way the banks and large corporations in the US and Europe who use economic indicators that are limited such as dollar profits, without overall indicators that include negative effect damage to the environment that requires huge investments to correct, problems of trade wars leading to political conflicts, are acting like a person walking blindly in one direction.  With some foresight China and all its trading partners would have done better with slower but more careful Chinese growth of 7-8% that would have better met societal goals in US, Europe and China, avoiding high carbon emissions segments of industries from Day 1. Jinping is doing this in China, and Biden is doing this in the US- cutting out highly polluting factories and segments of industries- but in a climate of mutual distrust, which could have benefitted the world when conducted in a climate of cooperation and trust. The pandemic made the situation even more difficult. Power shortages in factories and blackouts in Chinese cities have led to a reversal of policies on use of coal in China months before the COP26 Glasgow conference and G-20 summit leaving a huge gap. Without the presence of Xi Jinping at COP26 in Glasgow and with Chinese participation uncertain significant progress on climate change is elusive. Estimates by US Renewable Energy Agency is that it would cost $131 trillion to pay for limiting emissions to global warming of 1.5 degrees Celsius. Some major share of this cost can be attributed to the increase from about 4 billion tons in 2000 of carbon emissions in China to about 12 billion tons in 2015, increase by 3 times. One can clearly see from this sudden jump in carbon emissions in China that policies of hyper growth with unregulated polluting industries adding to GDP growth figures was bad policy for China, bad policy for US, and Europe, even if it offered temporary profits for individual companies. India has the advantage of learning from this experience and charting its own wiser course as a partner with US, Europe and Japan and by Modi's vigorous efforts in renewable energy. The lesson- look at all indicators of progress, including climate and society, not just economic indicators in profit or dollar terms, take the tough decisions early in regulating polluting companies and industry segments, and bring full and active public participation with transparent access to data on climate damaging activity in real time because climate and the environment we live in free of polluting substances belongs to all the people, belongs to all life on the planet from trees to animals and birds, not companies that can choose to ignore it. ...
The New York Times Original article ›
LyrArc Article Gist
Gage points out that crime in America is about half what it was in 1991. She traces the calls for law and order in American politics back to Coolidge and Nixon. Trump's reference to restoring law and order is about checking the calls for correcting social injustice, movements for gun control, and public protest such as "Black Lives Matter," not just criminals, says Gage. In fact strict deportation has been the policy in 2 terms of the Obama administration, with immigration from Mexico at an all time low, another of the paradoxes in relation to the Trump calls for a wall with Mexico that would cost $23 billion. 

Washington Post Original article ›
LyrArc Article Gist
Van Dam says its not that great being a worker in the U.S. because it is hard for the unemployed resulting from competing with workers in other countries with lower wages, and for those who are unemployed harder because worker collective bargaining is weakened over 3 decades. He cites a 296 page OECD report showing very little government support for unemployed and at risk American workers. It says this has contributed to higher income inequality and larger share of lower income people than almost any other advanced a nation. Only Spain and Greece are shown as having more households earning less than half the median income- showing large numbers of people are poor or close to being poor. In the U.S. an average of 1 in 5 lose their jobs each year, and 23% of workers 15 to 64 are in their job less than a year in 2016. The job churn hurts workers because of firing and layoffs being frequent, more than is healthy for a economy. The U.S. and Mexico are the only two countries not requiring advance notice before firings. And fewer than half of workers find a job within a year in the U.S. Two in three families with a displaced worker fall in poverty for some time. Unemployed workers with typically 26 weeks support get less support than any other country in the study. Only 12% of workers in U.S. are covered by collective bargaining. ...
Original article ›
WSJ Original article ›
LyrArc Article Gist
Anthony Hopkins is Pope Benedict XVI in November's Netflix Movie The Two Popes. Hopkins, a Welsh actor, is now famous for the way he talks about not taking himself so seriously. His view of life, just be glad you are alive and have fun doing things while you can, all this talk about getting to the top, once you get up there you find there is nothing there, just nonsense, all lies. For Hopkins it has freed up a lot of energy and makes him come alive at 81 years. Another thing he says keep working thats the only way to live, and not go into decline. So what better way to take on the role of Benedict, a German pope who becomes the first to resign his office, and have his chosen successor follow him, cardinal Mario Bergoglio of Buenos Aires, Argentina, (actor Jonathan Pryce) succeed him. Just be laid back and fill the role without thinking too much about it. So no intensity, he does not do research, actually a bit clueless, he says. Life is too short to be overconscious about oneself, he was intense once, now since about ten years he just wants to relax. Benedict he sees as an easy role especially with Pryce as cardinal Bergoglio. Fernando Meirelles directs and he is good with that. In the movie a day long conversation takes place, and two people who are from opposite ends of the world and ideologically too, have a sense of lightness about them, talking the World cup and soccer, and Hopkins playing the piano for Bergoglio. Hopkins just intent on having a lot of fun and doing it that way on the set. He sees the to popes as not walking on water, just human beings, and that make it easy for him. The human touches like going along with Bergoglio to watch football, though he nows nothing about it, and having a beer together. When playing Benedict Hopkins tells himself he is just pretending, just kidding, that makes it easy for him. His wife has encouraged Hopkins to relax by taking on painting and playing music. ...
WSJ Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
Cerberus Capital will lose its entire stake under the plan announced by the Obama administration. And Fiat will be limited to a 20% stake in Chrysler, down from an earlier figure of 30%. And Fiat will have to repay the $6 billion loan that the Obama administration is willing to make before in can take astake in Chrysler of above 49%. Obama administration official confirmaed that the Cerberus 80% equity stake no longer holds value and that the firm's ownership would come to an end. Only if Fiat and Chrysler reach an agreement in 30 days will Treasury invest $6 billion in Chrysler. The task force requires Chrysler to eliminate the "vast majority" of roughly $9 billion in outstanding secured debt. Cerberus acquired Chrysler from Daimler AG in august 2007 when US vehicle sales were 16 million a year, and did this by having Chrysler borrow heavilyusing its plants and property as collateral. $10 billion of secured debt was raised, and $2.5 billion was paid down of it. With prices of gasoline hitting $4 things collapsed. Chrysler sales fell 40%, and Chrysler was loaned $4 billion by Treasury. Now Chrysler has 30 days of working capital from Treasury till it reaches an agreement with Fiat, and before the government provides an additional $6 billion if the agreements as required by the Obama task force are reached....
The Guardian Original article ›
LyrArc Article Gist
The CEO of the New York Times and the former director general of the BBC, takes a look at the public discourse in the 2016 U.S. presidential election and in the Brexit campaign, and finds some troubling changes. The use of words that can eaily be picked up by Twitter and social media to attack opponents, the complete disregard for facts, and outright attempts to denigrate and destroy using rhetorical tactics, and a section of the public that has turned away from the facts or is disinterested in facts, is deeply troubling for Mark Thompson. When the public discourse fails, then the politics as a whole starts to collapse, says Thompson. We are children of the enlightenment, says Thompson, and were taught to look underneath statements to discern the truth. This is a crisis in public discourse. Worse it is one in which truth telling by people who say they are outsiders and tell it like it is, is not about telling the truth. Which is what makes it so dangerous. Thompson cites the statement by Michael Gove that "people in this country have had enough of experts," as another dangerous sign. He says it is time that experts make themselves understandable and talk in a way the public can understand. The media needs to explain issues in clear ways, and professional policymakers language of discourse needs to be conveyed in better ways that the public can grasp, in which the Brexit Remain campaign failed, says Thompson. Its important to acknowledge the problem, as the health of our democracies depends on finding solutions to what has happened in 2015-2016 to change the public discourse and let it deteriorate to unimaginable levels.  ...
WSJ Original article ›
LyrArc Article Gist
U.S. Commerce Secretary, Wilbur Ross, has balanced the rhetoric of president Trump on trade in the NAFTA debate by saying the U.S. is looking for win-win solutions in trade relations with Mexico. At the WSJ CFO network Ross says the trade regime from the post war years is now an anachronism and does not work well especially for the U.S. Many experts agree that the trade framework from that period is problematic. It does not take into account, for instance say experts, the situation where a command economy such as China could help manufacturing industries with state policies, including currency policies. The rapid growth in China was different from the rapid growth in an earlier period of Japan, in terms of its impact say experts. The U.S was the dominant economy during the sixties, and the growth in Japan was not at the accelerated pace and of the magnitude that happened in China. As a result the impact on  some communities in the U.S. was much more intense in the last two decades, as documented by prominent trade studies, leading to the sense that trade did not work for these communities. ...
BusinessWeek Original article ›
LyrArc Article Gist
Middle managers is just a term, in reality leaders of tomorrow will be learning, practicing their craft, working on projects and products as a part of teams that report to some more experienced manager, who can provide the team the benefit of his experience and mentor these managers. These are not factory floor positions and interface directly with senior managers of the company. Without a seamless integration of all people in the company working in harmony, something has seriously gone wrong in the way the company should work. One might guess from the way companies especially financial institutions have been run, that along with CEO and senior manager aggrandizement, and layoffs of whitecollar workers who bear the brunt of the downturn along with people in the frontline in factories, that these teams and managers have been left out in the cold. Osterman in his book "The Truth about Middle Managers" points to this alienation of middle managers. These managers and teams especially in industries like the auto industry may lack the committment to the company and there may be widespread cynicism about the way senior management and CEO's are running the company. If things are happening the way they should these are the leaders of tomorrow and should be consulted and given increasing responsibility, and older management should make way for new leaders to better adapt to new conditions facing the company and meet new challenges. Instead as in the auto industry boards and CEO's and senior managers perpetuate themselves and their older mindset and their outdated strategies leading to disaster, and the elimination of the positions of these very managers and teams on which the real hopes of the company should rest....
The New York Times Original article ›
LyrArc Article Gist
Claire Cain Miller points to the high cost of child care in the U.S. and the benefits to society from providing affordable child care. It has a high impact on women's employment and incomes, and ability to pursue opportunities in education and career. The effect on children especially for low income families is enormous. Average cost for child care in the U.S. is by one estimate $16,514. The higher the quality of care in early years the better the outcomes are for children in education, careers, income, and later in life.

Wall Street Journal Original article ›
LyrArc Article Gist
GM CEO Wagoner was asked to resign by the Obama admninistration. The news was given Wagoner by Steven Rattner, who heads the auto industry task force setup by President Obama, at Rattner's office at Treasury. Mr Henderson, GM's Chief Operating Officer will fill in for Wagoner. When Wagoner assumed office in 2000 GM's stock price was $70, now it is $3.62, and GM capitalization is $2.21 billion in March 2009. Since 2004 GM has not earned aprofit, and has logged $82 billion in losses. Right upto the end the board of directors and lead directors backed Wagoner, even when the company was short of cash in the waning days of the Bush administration, and public opinion was very critical of the way management and unions had driven the company into the ground, all through this they held on, showing how hard it is to get an entrenched board and management doing things the wrong way. Now the Obama administration has taken years of festering issues in the auto industry and at auto companies head on. Not only Wagoner, the task force is working with GM to replace a majority of its directors. Kent Kresa a longtime director is to serve as chairman of GM. The President in a speech today on the auto industry said that he was rejecting the plans for restructuring provided by both GM and Chrysler. He is giving GM 60 days to come up with a new plan. The government would provide suffficient working capital for the next 60 days, during which time a revamped board and top management would have to come up with new restructuring plan. Obama made it clear that an expedited government sponsored bankruptcy was a clear option. And officials said that the inordinate amounts of debt at both GM and Chrysler have to be scrubbed, and bankruptcy would be "quick rinse" to rid the companies of much of their debt and contractual obligations. And the government would stand behind the warranties of both companies. For Chrysler the government is giving 30 daysto come up with a new plan, and time to reach an agreement for Fiat to work to revive Chrysler. And Obama reassured the public that FIat would have to repay the government before it could take money from the new Fiat run Chrysler out of the country. If Fiat and Chrysler reach an agreement and only then would the government step in with $6 billion in loans. If not Chrysler would be allowed to collapse....
WSJ Original article ›
LyrArc Article Gist
Reaganomics, trickle down economics, it is clear don't work. James Mackintosh says in WSJ, the latest version of Reaganomics, in the form of the LIz Truss budget in September 2022 with cuts in corporate taxes, no relief for vulnerable populations in the cost of living crisis as in all other major European countries and in the US, is already getting a bad reception in financial markets with the tumbling of the British pound.Times have changed there is nothing to be gained in its approach as there are no trade unions strangling growth as in Thatcher's time that need to be restrained, and not that much red tape to increase business flexibility. Most of the privatization has already been done and some of the state run companies are operating much better today than privatized companies handling water and other services.   Instead the problem is one of much needed investment in infrastructure and public services, and social protections after the pandemic. Businesses are not being crippled by high corporate taxes. Instead the opposite is the case, with windfall profits, so that the opposite approach taken by president Biden to use the higher tax on profits of Tech, oil and other companies to finance social protections and a huge climate energy initiative made more sense, leading to the passage of the $369 climate bill  and Inflation Reduction Act of 2022.  The WSJ makes these points- Britain has a higher current account deficit and higher debt at over 100% of GDP compared to the period of Thatcher in the 1980's when debt was only 40% of GDP. Most important is what the WSJ says about what has happened since the 2009 financial crisis and the austerity policies pursued after that crisis that were worsened by the pandemic so that public services in Britain are actually crumbling. Politically this lacks popular support and little backing at a time of a recession in the British economy, because such policies require public support to go through a tough period . And taking this trickle down economics today when Britain faces a cost of living crisis may be an unwise act of taking an approach that is no longer relevant or shown to be working at the worst possible time, says the WSJ. ...
Original article ›
LyrArc Article Gist
As the final Republican tax bill is debated in Congress on December 19, 2017, Senator Bob Casey cited the following points from the Joint Committee on Taxation Report on the floor of the Senate.  1. Americans building their hopes that their pay checks in February 2018 will be increasing are in for a big disappointment said Senator Ron Wyden of Oregon, a senior member of the Finance Committee. The Joint Committee on Taxation estimate is that for the 57 million families making less than 100,000 dollars a year the tax cuts in the Republican legislation will either not reduce their taxes or reduce the taxes by about $100 a year. 2. The bill does little for the big tasks facing America of rebuilding failing infrastructure. Senator Casey cited 4500 bridges needing repair or replacement in Pennsylvania alone. It also does little for health care access for middle class families and is likely to lead to 10% increase in health care premiums. Affordability of college and other hurdles of middle class and working class families remain unaddressed.   3. The $9 billion in the estate tax cuts would finance the Children's Health Insurance program which has expired.  4. The $36 billion in tax cuts for corporations comes at a time when corporate profits are at the highest they have been in 15 years, according to Vanguard founder Bogle. He also points out that wages as a percentage of GDP are the lowest in 15 years. The tax cuts in the Republican bill are not likely to correct this imbalance.  5. The share of GDP of people making more than one million dollars in 1980 was 11%, this is up now in 2017 to 20%. This has led to questions about the wisdom of these tax cuts which disproportionately benefit a very small percentage of Americans who do not need these tax cuts, and come with significant sacrifices for the middle class in terms of what is available in public services, and the cost to their children as infrastructure and access to health and education is made more distant because of a growing U.S. debt from this tax cut. The big problem then with this bill is that it further damages intergenerational mobility in the U.S., undermining the foundation of a democratic society. Damage has already happened in the past three decades as Federal Reserve chairman Janet Yellen pointed out at a conference on Economic Opportunity and Inequality on Oct. 17, 2014, saying-"The past several decades have seen the most sustained rise in inequality since the 19th century after more than 40 years of narrowing inequality following the Great Depression." This is why there is substantial agreement in the media from the Wall Street Journal's Greg Ip to Krugman in the New York Times that the bill fails to correct a harmful trend, and goes further in the wrong direction for a democratic society.       ...
Wall Street Journal Original article ›
LyrArc Article Gist
Republican Jeb Bush's address to the 2013 CPAC conference focusses on the decline of social and educational mobility in the U.S. to its lowest point since 1945. In this address he points out that " the central mission of conservatives is to reignite social mobility in this country- restoring the right to rise." His focus on restoring the right to rise is on doing everything to increase opportunities for "quality education," an issue on which he focussed as governor of Florida. He sees technolgy and relative youthful population compared to China and other countries in Europe, as giving America a unique advantage. On this and individual efforts he pins the broad hopes of the middle class revival he sees. He puts the problems of America's middle class and working class as wages declined and the economy suffered from misallocation of resources in stark terms- "Today, the sad reality is that if you're born poor, if your parents did'nt go to college, if you don't know your father, if English isn't spoken at home- then the odds are stacked against you. You are more likely to stay poor today than at any other time since World War II." And he sees Conservatives having a response to this situation, and restoring the idea of America as a land of opportunity for all....
New York Times Original article ›
New York Times Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
The southern U.S. states may be losing their advantage with midwestern states as costs come down in the midwest. An index developed by Moody's Analytics which shows a mix of labor, energy, taxes and real estate, is at 96% of the national average for the midwest compared to 95% for the southern states. Costs in the western states have declined the from 107% of the national average in 2004 to 101% in 2011, according to Moody's, but still remain high compared to the midwest. The northeastern region still has the highest costs. The 2007-2009 recession was severe in the midwestern states and helped keep wages down in Michigan, Indiana and Ohio. The costs for employers for wages and benefits was $27.66 in these midwestern states compared to $31.00, the gap once $7.00 is now down to $3.34. One of the factors helping the midwest is that energy costs are lower there than in the south and other parts of the country. Another factor working in favor of midwestern states is the increased tax incentives offered in these states to compete for manufacturing investment....
WSJ Original article ›
Washington Post Original article ›
LyrArc Article Gist
A Washington Post poll in September 2016 shows some surprising results with Clinton competitive in Texas and Arizona, long red states. It shows Trump's appeal to older white voters helping him in Iowa and Ohio. Clinton has a slight lead in Michigan. Clinton also leads in Pennsylvania, Nevada, and Colorado, and also in Florida.  As the race gets closer with about 50 days left Clinton's lead of 8-9 points is now about 4 points. Most striking this time compared to 2012 is that Clinton is polling way ahead with college educated voters. A race with libertarian candidate Johnson shows him getting 15% of the vote in 15 states narrowing Clinton's advantage, but also putting pressure on Trump to win undecided voters. Clinton has consolidated the Democratic vote better than Trump with 90% support in 32 states compared to Trump's above that in only 13 states, a key weakness because of dividing the Republican vote with Trump's crude and blatant attacks during the primaries that have left some Republicans thoroughly alienated. Unlike any previous election this one is dividing the vote based on gender and education. A big additional difference is college educated white women where the gap is the widest seen in any election- a 23 point lead for Clinton with white college educated women nationwide. In the midwest Michigan still has a history of voting Democratic especially after the auto industry rescue by Obama. Demographic changes not mentioned here also play a part such as in Colorado and Nevada long time red states. A Clinton edge in Texas is the most surprising result in the entire poll results showing the old red state blue state division is now replaced by women, minorities and college degrees as the dividing line. Part of the reason for this is that the losses due to globalization. And in this respect Clinton does better than Obama, but not as well as Merkel in Germany who has also suffered with people who lost out in globalization but not to the extent of Obama, and to a lesser degree than Obama for Clinton. Enough minority support, Republican support, and blue collar support, in addition to women voters,  may be the difference for Clinton in Texas. The other factor is the advertising campaign funding and the national security issue, on which Clinton does better than Obama in the latter a key factor in red states, and is similar to Obama in the former to tackle midwestern states. Such as Michigan and Wisconsin, liberal in history but with large shifting blue collar votes. Hurt by globalization, but in the case of Michigan helped by the Democrats rescue of the auto industry. In a way this could bring the country together after Obama with the disappearing North-South or red state blue state division, and with enough union or working class white support for Clinton in addition to dominant college educated voters to form a new coalition of support compared to a predominantly red state white state division of Obama years based on the minority vote.  ...
WSJ Original article ›
LyrArc Article Gist
Russians vote in 2021 parliamentary elections. With 30% of votes cast the United Russia party of Mr. Putin wins 45% of votes cast, followed by the Communist party of the Russian Federation with 22%, and the Liberal Democratic party getting 8%. Russia has mixed voting system with half the seats directly elected from party lists, and the other half assigned to individual candidates. United Russia had 334 seats out of total 450 seats in the outgoing parliament. Putin will need over 300 seats in the new parliament to get the two thirds majority to enact changes to the constitution. Putin needs this to extend his current term which ends in 2024.  Putin draws most of his support from the older part of the population that has seen the hardships imposed following the collapse of Communism around 1990. This led to collapse of the ruble currency, increase in poverty, an effort by oligarchs to capture state enterprises, and a chaotic period for law and order. Shockingly during that period even life spans of Russians declined as reported in the WSJ. Liberals who supported the shift to democracy had not anticipated all the ill effects of introducing capitalist free market systems in such a sudden and free fall way. Such sudden shifts to free markets are now better understood and seen as the wrong way, as western capital markets fail without inbuilt protections, safety net for workers and retired people, and are subject to serious distortions if no vigilant authority exists. This is in reality not a free market but a market captured by the few, in the interests of the few. Once this was clear retired people, pensioners, military, law enforcement, and liberals realizing what had happened shifted support to United Russia founded by Mr. Putin. Mr. Putin faces the typical situation faced by incumbents over long periods where there is a sense of the need for change. Yet the pandemic and other economic crises that could happen in the event of mismanaged economy are never really too distant for countries such as Russia, China, India that are developed but yet have not the strong industrial base of US, Germany, France. Such economic crises including the ruble currency and Russian energy companies were better managed under Putin than under the chaotic period following the collapse of communism and the introduction of so called "free markets" that were anything but. During the recentfree fall in oil prices Putin was able to manage a transition period with the help of president Trump who negotiated a price for oil with the Saudis to protect US shale oil workers and companies, as well as Russian workers and oil companies. As a result Russians particularly young people look for alternative places to vote for opposition parties such as Liberals, Communist party, and other parties. But the majority of Russians including those working for state energy and other state companies tend to stay with Putin's choices for state, regional and federal administration and for parliament. Nationalist spirit also provides additional support as Putin has restored Russia's status as one of the important nations in the world. Some missteps such as interference in US elections have led to a loss of some of this international influence, yet even president Biden understands the situation in Russia and is willing to work with Putin with new rules of conduct Under the Russian system about 70% of the laws are not made by parliament but are done by the government and the administration of the president and then go through parliament. In addition to parliamentary vote there are 6 governor races and three races for heads of regional republics. ...

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