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The effort to impeach US Homeland Secretary Mayorkas fails in the House of Representatives with a vote of 216- to 2014 with 4 Republicans voting with all Democrats. Constitutional experts say there are no grounds for impeaching Mayorkas and no cabinet official has ever been impeached before. The WSJ Editorial Board also says there are no impeachable offences. A Senate bipartisan effort to change asylum and parole laws to end the migrants flow over the US border with Mexico with president Biden's support to close the border the day it is passed is now stalled because of Republican opposition. This also keeps aid to Ukraine and Israel in a bill before Congress in a state of uncertainty.

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Inflation is over 2% in Japan for the 22nd month. Decline in working age population by the 1990's, the shift of jobs and factories overseas, and the banking crisis all led to deflation in the Japanese economy. By 1998 inflation was setting in and has continued for two decades to 2022. This could happen in China as it's economy faces similar problems which is why linear projections from the last 10 years for China are misleading and erroneous, just as linear projections for India from the previous decade's growth were misleading and erroneous after 2014. The second decade after 2024 is likely to lead to major investments in infrastructure leading to India joining the developed nations.

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After the disaster of the Japanese Fukushima nuclear plant in 2011 following a tsunami and earthquake chancellor Merkel made the decision to close nuclear plants. Germany will close 3 nuclear plants in December 2021. Decommissioning will take 20 years and 1.1 billion euros per plant. In 2022 Germany will have only 3 nuclear plants in Bavaria, Baden-Wurttemberg, and Lower Saxony, equivalent to power of 4 gigawatts from 1000 wind turbines. Gas prices are up 10 fold in 2021 as Germany makes the shift to wind and solar. Economy and Climate Protection Minister Habeck of the Greens party in the new German government sees a continuation of the policy removing nuclear plants and shifting to wind and solar.

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Mr. Ambani's Jio company is targeting both ends of the pyramid. It is investing $25 billion on a 5G network coming in late 2023. At the lower end a new $12 mobile phone calld JioBharat by India's largest telecom provider aims to reach 250 million people who use 2G mobile phones. Mobile phone penetration in India is about 46% in 2021, up from 17% in 2016, according to World Bank. This is largely due to the efforts of Mr. Ambani who built a 4G network from scratch and has 440 million subscribers with some of the lowest data rates in the world. The new phone has a smaller screen, physical keyboard, camera and runs on 4G. 

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The monopoly over news publishing in the UK began in 1981 with the purchase of loss making The Times through negotiations with the trade unions.  As shown in The Guardian Rupert Murdoch met with Margaret Thatcher on Jan 3 1981 weeks before the matter was brought up by Thatcher at a cabinet meeting so that it would not be referred to the Monopolies and Mergers Commission. This is revealed in the Thatcher papers held at the Churchill archives in Cambridge 30 years after the event in 2012. This was the year Ronald Reagan's administration replaced Jimmy Carter's administration in 1981. In 2022 Tories Secretary Nadine Torries removed controls that protected the editorial independence of The Times. 

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DJT selects as Treasury Secretary, Scott Bessent, who was Chief Investment Officer for George Soros before starting his own hedge fund. Bessent was investment officer for George Soros when he made the bet against the British sterling currrency. His hedge fund manages $500 million in assets. He supported Mr. Trump in his first bid in 2016 and joined his campaign effort at a time when Nikki Haley was in the primaries. While campaigning he offered economic advice to DJT and said  Trump should strive for 3+3+3 for the economy cutting the deficit to 3% of GDP, 3% GDP growth to reduce the deficit with more tax revenues, and 3 million barrels a day of oil production in the US.

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The new Samsung Fod smartphone is $500 costlier than the priciest Apple iPhone. It provides a tablet sized phone with glass display that bends in half, so that it can be closed as a wallet and fit in the pocket. It has 6 cameras, can run 3 apps simultaneously and measures 7.2 inches diagonally when open.

In an effort to have a wider lineup at different prices there will be 4 versions of the Galaxy S10, similar to a strategy of Apple to go to a wider lineup.

Smartphone sales have declined for five quarters, including  4.9% decline in the last quarter of 2018, according to IDC. The new versions are an effort to stop the decline.

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Conoco Phillips posts a loss for 4th quarter 2008 of $31.6 billion. For all of 2008 the loss was $17 billion. This includes a number of charges including $7.4 billion for writedowns on OAO Lukoil in which Conoco has 20% stake, whose shares have lost two thirds of their value.

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President Trump reverses himself and says he supports intelligence agencies assessment showing Russia interfered in the U.S. presidential election of 2016. Earlier Trump told reporters on an Asian trip he did not think Russia meddled in the U.S. election. He cited Russian president Putin's remarks on the matter about not meddling after a brief meeting. and said he agreed with Putin on this point.

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Callum Borchers of the Washington Post summarizes the three angles of the investigation by Special Counsel Mueller into Russia's role in the 2016 presidential election. This report points out that it was not until the firing of FBI director Comey that the investigation took a new turn by looking into the possible obstruction of justice in the case of National Security Adviser Flynn.

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The India Pakistan conflict escalates as Pakistan retaliates for an Indian air attack on a terrorist camp deep inside Pakistan. Pakistan sends planes to attack Indian positions in Kashmir. One Indian plane is downed in Indian air strikes inside Pakistan. This follows a terrorist attack that killed 40 Indian soldiers in a convoy in Pulwama, Kashmir. In 2016 India attacked Pakistan targets across the border after a terrorist attack.

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Seattle is now the first U.S. city experiencing what it is like in a lockdown with streets empty. Seattle metro area is a city of 4 million with growing economy - at 6.9% growth, and 50% increase in jobs since 2010. New rules in Washington state are to wash your hands leaving the house and re-entering, no one going to anyone else's house. 

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China's July 2012 exports were up barely by 1%, over the same month prior year. Exports to the European Union declined by 16.2%. A big problem is cost increases for land, labor and electricity. By 2004 China's exports were growing at a peak rate of 35%. Since then prices of inputs have increased- wages by 150%, land by 70%, and electricity prices by 30%, according to Dragonomics. The yuan appreciated by 30%. Productivity is increasing by about 8% a year, according to the World Bank. As a result of the price increases of inputs the competitiveness of China, with products exported mainly on the basis of price, is deteriorating.

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A digital strategy is what separates Books-A-Million Inc. of Birmingham, Alabama, a 257 chain store of bookstores, valued at a mere $47 million in April 2012, from Barnes and Noble with its Nook digital business valued at $1.4 billion after the deal with Microsoft.

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John Bolton looks at the continual dithering behaviour of the U.S. president in the Middle East- Iran, Libya, Syria, Iraq in sequence- and provides some insights into the president's behaviour. He says it comes from Obama's distrust of the U.S. role in the world as a positive factor, and a deterministic view of the "arc of history" bending towards outcomes he finds ideologically acceptable. This coincides with a different public perception of America's role in the world, not so much of mistrust and skepticism, as of indifference and focus back on domestic issues following the event of the first war in Iraq and of the 2008-2009 financial crisis. The two are different in nature as the public including women may not share the ideological frame of mind of the president that the U.S. is not overall a serious positive factor in the world through the presidencies of TR, Wilson, FDR, Truman, Ike, to Kennedy, Reagan and Clinton, from the Russo-Japanese war, through the First and Second World War, the Berlin Airlift and the Korean War, to the Balkan conflict. Bolton writes at a time when the two perceptions are about to diverge as the U.S. returns to its normal role of positive and constructive engagement with the world....

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In talking about the systemic risks of the failure of GM, about 3 million jobs depend on the auto industry with 1,187,000 employed by dealerships of which 325,000 are employed in GM dealerships. Another concern is that GM's pension obligations are underfunded by $18 billion at the end of 2008 according to Deutsche Bank. This would be added to the $11 billion deficit at the Pension Benefit Guaranty Corp. were GM to fail.

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GE plans to take investment in India from current 2% of sales to 5% of sales in 2010. To do this it will quadruple revenues from India to 8 billion by 2010. GE expects a huge amount of infrastructure spending in developing markets in the next 8 years it estimates this to be about 4 trillion. Separately Indian government estimates are that infrastructure spending will double from $50 billion to $100 billion by 2011 (Indian Planning Commission estimates).

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Because of its size ($230 billion in sales) Toyota is Japan's largest taxpayer, largest company, showcases its engineering capabilities, and one of its largest employers. Which is why Akio Toyoda referred to returning Toyota to profitability as part of the effort for the "revitalization of Japan." Experts in Japanese universities who think the Toyota crisis offers lessons about Japan's future, see a direction away from mass manufactured products to a more service driven economy. Already the Japanese economy is down from 28% of the economy in manufacturing in 1990 to 22% in 2008.

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Donald Trump, has consistently tried to capitalize on the changing demographics and economic conditions in the country during the primaries by embracing a neglected white working class on issues such as trade, wages and jobs. He now has taken on the issue of law and order. In his acceptance speech Trump once again used a canny ability to sense the public mood, in the summer following the Orlando shootings, the Nice attacks, and the Baton Rouge police shootings, by calling himself "the law and order candidate in this race for the White House." He touched on the police shootings and terrorism by making the centrepiece of his speech- "Our convention occurs at a moment of crisis for our nation. The attacks on our police, and the terrorism in our cities, threaten our way of life."  The speech ended by Trump saying "I am your voice." By embracing the major issues in a way a skilled politician would do using his years of experience on the Apprentice television show with catchy slogans and phrases; long before the other candidates had caught on, and using the language of ordinary people, on trade, wages, jobs, terrorism, Trump has galvanized this portion of voters. He also made an appeal to Bernie Sanders voters. The distance between working class voters and other candidates who feel neglected on issues of wages and jobs, and are also most open to issues of law and order and terrorism, was the story of the Republican primaries. Whether this carries over to the broader electorate- as less than 20% of the eligible voters in the Republican primaries voted to give Trump wins in the primaries- and how well Hillary Clinton has held onto traditionally Democratic white working class voters that Trump is appealing to, will affect the 2016 elections. As this piece in the Guardian points out Trump has it well on touching on all the right buttons for which he has a canny ability, but will the American voters look for more in terms of experience and other factors, and Hillary's own fighting spirit, may affect this unusual election.   ...

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LinkedIn's IPO is offered at a price of $45. This is up from estimates of $10 a week before the IPO. The career networking site opened at $83 and in a few hours zoomed to $122, before closing at $94.