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The US added 167,000 jobs in July 2023 from a month earlier, according to the Labor Department, less than 200,000 anticipated. Higher population numbers and higher labor force participation rates offset the increasing  number of retired people in the US. More people added to the population from immigration and more younger people participating in prime age under 54. This means the US is where it would like to be with the Fed not having to increase rates that much in coming months, says Justin Lahart of WSJ. The Labor Department increased its estimates of population by 867,000, and the labour force participation for prime age is up to 84%. These are good signals for the US economy, that there is room for more jobs growth and income growth with an unemployment rate at 3.5%, and less need for increasing interest rates by the Fed.

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The large Iranian missile attack on Israel on April 13th 2024 was expelled with American, UK and Jordan's help. It cost about $1 billion in antimissile systems. The US does not seek an expansion of the war. The events show how without a clear policy on non escalation with the US taking leadership- how without this events could spin out of control in unanticipated ways. And the need for priority to be given to rebuilding after the pandemic, not conflict that is driven in a random manner when most of the largest countries on every continent are committed to peaceful development to improve standard of living of their people- US and EU, China and India, Brazil and Mexico, African nations, and most other nations in Asia and Latin America. It is for Biden and Scholz/Macron, Xi and Modi, to make this happen.

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At a critical juncture in the global fight against the pandemic eight in ten U.S. counties are in lockdown. About 29% of the U.S. economy is offline on April 5, 2020, according to Moody's Analytics. U.S. daily output has fallen by 29% compared to March 2019. Moody's Analytics predicts a 30% annualized decline in the second quarter GDP as businesses gradually reopen in the summer. Higher unemployment and loss of household wealth are likely to cause demand side drops making the recovery very gradual in this scenario. It all depends on how long this lasts and how effective the fight against the pandemic is including the steps taken to cut the spread of the virus, the action taken for rapid testing and isolating of clusters as happened in South Korea and Taiwan, which remain models for effective action. 

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Rupert Murdoch brought positive changes as shown here to introduce electronic printing technologies to the newspaper business in 1981 the year Reagan became president. Yet there are questions why others across the news operations did not take this up as it would make sense to adopt new technologies. Why was there no competition? This led to The Times being acquired for $28 million in 1981 compared to the $5 billion paid for The Wall Street Journal in 2007- enormous difference as monopolistic/oligopolistic behaviour has become entrenched in shaping public perceptions and policy. Why for instance is not taking climate change action in the face of fires/floods or not taking action to invest hugely in infrastructure for a dilapidated USA become seen as acceptable in for 2024-2030-even as the European Union aims to be fossil free by 2030?

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The Senate passed the Kids Online Safety Act 91-3. It is now upto the House and Speaker Johnson to pass it quickly. Safeguards are already in place for communities. It is an appalling and dangerous sign of the reckless behaviour of tech companies in this social media space, the tech company lobbying conducted here. Ordinary Americans need protection, children in America need protection from the unacceptable risks to mental health in the social media space. Surgeon General Vivek Murthy has called for a warning label similar to the one on cigarette boxes to be placed on social media outlets. Senator Blumenthal and Senator Blackburn from northeast and southern states have come together on this issue to protect the Nation's children. It is now upto the House to take action in 2024 to protect the Nation and its children.

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PM Narendra Modi is nominated in the historic old parliament building in New Delhi for a new five year term in office by the parties in the National Democratic Alliance on June 7, 2024. The importance of the event is because of the 294 seats of 543 in parliament of the NDA parties and the nomination based on achieving the vision of a developed country similar to the US, EU, Japan and China, by 2030. With the modernization complete by 2047, the 100th anniversary of Gandhi's struggle that won Hind Swaraj (Indian freedom), the title of a book put out by Gandhiji in 1909 as he negotiated a settlement with the British Empire for South African Indians and Black people. Leaders of every party in NDA cited this as the reason and the goal in their nomination speeches.

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Heat mapped sidewalk heat is shown in color images in the NYT for 3 US cities Phoenix, Sacramento and Portland. Phoenix one can understand but Sacramento and Portland are hard to grasp- such is the acceleration of climate change effects across the Us and in other parts of the world. Does one then sees anywhere in the NYT, WSJ, W. Post, the Guardian, on the television news channels any coverage of what each candidate for the next 4 years running the US government is going to do for climate change effects? Inaction on climate change would produce severe costs for the US economy which will drain its resources 2-4 years from now as the effects of climate actually accelerate when nothing is done. This could cost as much as a trillion dollars in 2028 if nothing is done for climate change under the former president.

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India make a stunning comeback after being bowled out for 150 runs in the First Test against Australia at Perth in November 2024. Jasprit Bumrah led the Indian team. Here is how he approached the game where he took 8 wickets and Jaiswal -Rahul had a double century partnership turning everything around.

"I played here in 2018 so I remember the wicket can be a little soft here and then get quicker, so I was relying on that experience. We were really well prepared so I just told people to have faith in their process and ability.

"We have the opportunity to do something special."

After losing 3 Tests against New Zealand India never lost courage and confidence to turn things around. 

 

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Ron Johnson (R-Wisconsin) who seeks deeper spending cuts, Josh Hawley (R-Missouri) who sees Medicaid co pay for able bodied at 100% of federal poverty level as a "sick tax," Lisa Murkowski who differs on taxing providers, and other Congressmen and Women in the Republican party are opposing the new tax cut package of president Trump. Senator Rand Paul (R- Kentucky opposes the raising of the debt ceiling, and is also opposed.

Most of the main Medicaid cuts come after 2029 after Trump no longer is president, so that Republicans who want to see the shrinking of the Medicaid program so it meets only needs of the most needy, want to see faster cuts while Trump is president. And there are other Republicans in Congress who face tight elections and see big risks of losing their seats.

 

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78 year old president Nazarbayev of Kazakhstan steps down after 30 years in power. Presidential elections will be held with a caretaker who is Senate president in charge till then. He juggled the competing interests of China and Russia to attract investment in the energy industry. China has invested $30 billion in the country as a link in the Belt and Road Initiative in infrastructure, mining and financial sectors.  Russia is the largest trading partner. Since 2002 GDP per capita has increased six times according to the World Bank.

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Grade three muscle tear in shoulder for Ben Stokes as he sits out the Fifth Test at the Oval with India in August 2025. Bumrah and Pant are unlikely to play for India in Fifth Test. Ben Stokes has 14 weeks to recover before the Ashes Test Cricket in Australia. Stokes took on a record amount of bowling and batting in the Tests with India going as he often does all out to win leaving the England skipper more prone to injuries and a bit exhausted.

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The manufacturing purchasers index for the eruozone was 45.1, remaining at the same level as May, a three year low, according to survey firm Markit. The figures are based on a survey of purchasing executives. Index figures below 50 indicate contraction in the manufacturing sector. Germany was at a PMI of 45, Spain at 41.1. The PMI reports indicate a contraction of 1% at an annualized rate for the eurozone economies in the 2nd quarter of 2012.

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In 2024 gender has receded into the background it is all about how to help ordinary Americans, workers and families, and children, and seniors. Harris is all about the Way Forward and the opportunity Economy, tackling the cost of living and jobs, higher wages.

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Both Harris and Trump favor increasing Border Security in October 2024. A tough approach being taken by Harris as well as Trump and in Mexico by president Claudfia Sheinbaum in her first 100 days to fight the crime and cartels at the Southern Border.

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The new Secretary of the Navy is money manager John Phelan. Is he a good choice for the Navy with its many challenges for which Phelan lacks experience, asks this report in WSJ. The US is attempting to ramp up its Navy in 2025.

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Phoebe Weston looks at the ways the Swiss have transformed their dirty rivers and lakes from the 1960's into pristine waters by 2025. A look at Lake Geneva. Today 98% of Switzerland is covered by sewage treatment plants, in 1965 only 14%.

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The Congressional Budget Office says the U.S. is likely to experience "a significant recession" if Congress does not prevent tax increases and spending cuts setup for January 2013. If the Bush era tax cuts expire as scheduled at the end of 2012, these tax increases and spending cuts of $100 billion on military and other programs would reduce the deficit in the fiscal year ending Sept 30, 2013 to $641 billion from the $1.13 trillion level at fiscal year end Sept 30, 2012. The impact would be to reduce the budget deficit from 7.3% of GDP to about 4%. The result- a contraction in GDP by 2.9% in the first half of 2013, and 0.5% for the full year, and unemployment would rise to 9.1% at the end of 2013 from about 8% today. If Congress postpones the tax increases and spending cuts the deficit would be at $1.04 trillion or 6.5% of GDP and unemployment would remain at about 8% at the end of 2013. A 9% unemployment rate with the "fiscal cliff' means 2 million fewer jobs. Romney's plan is to extend all the Bush era tax cuts for 1 more year and no spending cuts till he has a chance to make hs own review on spending cuts in 2013. Obama's plan is for extending all Bush era tax cuts except for those earning more than $250,000- resulting in savings of $2 billion in 2013 and $824 billion in 10 years- and making smaller spending cuts than Romney....

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India's central bank, the RBI, lowered interest rates by a half percentage point to 8% in April 2012.

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Huawei plans to increase R&D spending by 20% in fiscal 2012, compared to 34% the prior year.

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India's industrial output declined 3.5% in March 2012, according to the statistics ministry, larger than the 1.5% expected.

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For the first 6 months of 2013 U.S. auto sales reached 7.8 million, a 7.7% increase over 2012.

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The radical restructuring under CEO Johnson in 2012-2013 at American retailer J.C. Penney that failed. Johnson made 19,000 job cuts and shut down the St John Bay women's brand which brought in significant sales volume for the retailer. In its place he tried to shift Penney to an upscale image and mailed out fancy looking brochures to customers. All the time neglecting the in-store morale problem created by the deep cuts. Johnson managed Apple's retail stores in his prevous position.

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J.P. Morgan Chase announces $2 billion in trading losses in May 2012. The Chief Investment Office unit made a bet with a trading strategy that CEO Jamie Dimon said had grown very complex. These losses could grow or shrink during the rest of the year.

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Google's shares fall 9% on Oct 18, 2012, after an early release of earnings report for the third quarter 2012 showed lower net income. The lower net income is a result of losses from Motorola and decline in Google ad prices. Google shares were up 35% so far this year and revenue continues to increase, up 45% over the prior year quarter to $14.1 billion. Google has a 75% market share in search advertising. It is also supplementing this with gains in display and mobile advertising. It has a 15% market share in display ads and 55% share of mobile ad revenue. The number of clicks on Google ads increased by 33% over the prior year, but the price per click declined 15% compared to the prior year. Motorola Mobility lost $527 million in the third quarter of 2012 and this clearly affected results.

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About 11% of student loans outstanding amount were over 90 days past due in Sept. 2012, increasing from 8.9% at the end of the second quarter 2012, according to the Federal Reserve Bank of New York. This now exceeds the figure for credit cards. U.S. student loan debt is now at $956 billion for the third quarter 2012, increasing by 4.6%. About 93% of student loans made in 2011 were made by the U.S. government, which is promoting access to loans without asking for information about borrowers finances and education plans and ability to pay the loans back. Because student loans have to be paid back and are hard to discharge even in bankruptcy, this means many borowers who cannot find jobs are deep in debt, and unlikely to get loans for many years for cars and other needs. Moody's warns of a wave of student loan defaults in coming years.