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A professor at Georgetown University on why it takes time to build democratic institutions, with one important omission- the military in Muslim countries such as Egypt have no intention of building these institutions and have undermined the development of these institutions for decades. A bigger omission lies in inability of the military in the most populous Muslim countries with horrendous gaps in development in basic welfare indices such as education, infrastructure and services, that have put these countries decades behind developing Asia and even Latin America which also had a past of military rule. In countries such as Pakistan and Egypt the military simply lacked the skillset and abilities to deliver in economic terms. Therein lies the biggest failure. In China and Russia the governments have popular support because of their capability to deliver economic growth that has transformed both countries and improved the lives of the people in the region. These crucial omissions explain why Republicans such as Senator John McCain and Lindsey see the need for the U.S. to be on the right side for change. Latin America shook off its history of military rule or one party rule and Brazil, Chile, Mexico are part of two free trade regions in Latin America, supporting the free trade system and economic growth in this hemisphere. The issue ultimately rests with the people of Pakistan, Egypt, and other Muslim countries, and a process of learning, compromise, healing and reconciliation that ocurred in Latin America is likely to follow in the Muslim world. It has already begun in Pakistan which like India has a independent judiciary and lively press, and some of the institutions for a functioning demcoracy. The worst omission is unmentionable because it is so obvious - that of firing live ammunition into protesters for democracy. Years after this happened in S. Korea, Mexico and other countries the day is remembered in a certain way. The important point is that when it comes to this there is no exception to the pattern. ...

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An overwhelming number of readers who commented on this article by October 27, 2009, were opposed to sending 40,000 more troops to Afghanistan. Looking at all comments in detail one finds that of the 64 readers commenting only a handful, about 8-9 supported sending these troops. Ninety percent of the comments to this editorial asking Obama to fight this war with conviction seriously questioned the wisdom of doing this. Many readers asked why aren't the Europeans putting thier lives at stake, and two asked how the Economist could with astraight face say that Britain's 500 troop increase was a welcome gesture. Readers questioned the assumptions and statements made by the Economist such as" letting the region "slip into amaelstrom of conflict," or "permanent cross-border instability," and "a terrible betrayal of the Afghan people, " in many of the comments. Readers seem conscious of the fact that its not a precipitate withdrawal that is being discussed, its a war for the long haul that it inevitably becomes as the US forces get deeper into the conflict in the mountains of Afghanistan. The discussion is not about the next 6 months but of next year and the year after that and the year after that. That is also what General Colin Powell advised President Obama. He asked Obama to think clearly about the clear goals of this mission. See the link to Powell. The question arises is whether the Economist sensitive to its readers thoughts on this subject, and it is how does it account for such an absolute majority of sensible readers having serious questions, doubts, and outright opposition to a deeper conflict in Afghanistan?...

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Companies with good credit ratings are paying higher interest rates and others are finding it harder to borrow as investors flock to safe Treaury bills and government debt. And in 2009 about $700 billion in debt has to be refinanced. Southwest Airlines needed $400 million partly to cover losses from betting that fuel costs would remain high. It is the only domestic airline with an investment grade rating. It had to pay interest of 10.5%, twice the rate it paid in 2004 to raise $350 million. It is doing the borrowing now because its CFO says it does not know what the credit markets will be like 6 months or a year from now. Corporations borrowed $172.7 billion in the 4th quarter, down from $179.1 billion in the last 3 months of 2007, with businesses trying to borrow ahead of further deterioration in credit markets and overcrowding as the government steps up its borrowing to meet the needs of the $825 billion stimulus spending. Businesses that cannot get the access to the credit as refinancing comes due or find the high interest rates (sometimes approaching 20%) onerous, may not survive. ...

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Puerto Ricans in the US react to the "island of garbage" comment made at the Madison Square Garden rally. 127,000 Puerto Ricans live in Philadelphia and 64,000 in the towns of Allentown and Reading in Pennsylvania. New York City has about 600,000, Rochester and Buffalo about 60,000 Puerto Ricans. Florida has about 600,000 people from Puerto Rico and 15% of Latinos in Orlando area are from the island.

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The two incidents in July 2016 of shootings of police officers on July 7 with five killed in Dallas, and July 17 with 3 killed, have led to deep anguish among the 900,000 state and local law enforcement officers in the U.S. Videos showing shootings of African-American young men have led to protests in cities, and attacks by persons on the fringe. Police officers say they are now worried about their safety because of the ambushes in Dallas and Baton Rouge, and are taking extra precautions.

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Chinese plant not inspected by the FDA made an active ingredient in a blood thinner for Baxter International. The blood thinner led to 4 deaths. Baxter has temporarily stopped production of its version of Heparin. China has 14% of the $31 billion market for active drug ingredients according to a 2007 report from Credit Suisse. Only 7% of foreign drug making facitlites are inspected each year by the FDA, so its way behind in inspection, and at this rate it would take 13 years to cover all the foreign plants.

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In 2007 the number of businesses initiating liquidation increased by 50% totaling 18, 751 according to the Administrative office of US courts. And 5700 businesses sought Chapter 11 protection to reorganiza an increase of 24% over 2006. Look for more of this happening in 2008. In current credit and economic conditions its hard for some companies to pay off their lenders and the lenders do not want to go through a restructuring process, lenders preferring to get their hands on collateral and doing the liquidation. Its a sign of the times.

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A small tax on the $800 trillion foreign exchange industry of 0.005%- with the tax on currencies where the leaders of these countries approve like Merkel of Germany and Sarkozy of France- would generate much needed money to help the word's poorest, says Philippe Jouste-Blazy, a former foreign minister of France. For instance he says tuberculosis killed nearly 1.8 million people in 2007, and caused the GNP of some countries to fall as much as 7 %. THis would bring serious gains to economic growth in the poorest countries. Look at the $1 to $5 tax imposed on airline tickets in France and 10 other countries since 2005.It has raised $700 million and financed three quarters of the AIDS treatment now being received by the world's HIV positive children. Unitaid, is an organization Blazy leads. It manages the money from the airline tax, and has negotiated 50 to 60% reductions in the price of pediatric anti-retroviral drugs in low income countries. The reason why the banking community should support this tax. One it is tiny, 0.005% on a foreign exchange transaction, and should not affect the flow of transactions. It is done automatically by computer systems. The currency trading system right now is untaxed. More importantly the bankers says Blazy have been benficiaries of taxpayer money. Isn't it time to give back to those worst affected by the global crisis the bankers helped create? Does'nt it create more credibility for the global financial, monetary and trading systems? He says the tax money could be managed by the Global FUnd to fight AIDs Tuberculosis and Malaria, with upholds programs in 100 countries to high performance standards....

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Krugman points out that the prevailing bias in the US distorts the facts about Europe's performance. Frankfurt, London and Paris he says are just as lively and modern as New York and Chicago. They are not poor and backward. When you factor out population growth in the USA, since 1980 per capita real GDP which is what affects living standards has grown in America at about the same rate as the 15 European Union countries: 1.95 percent in the USA vs. 1.83 percent for the EU. And for the 25-54 years working age group unemployment in the EU 15 countries in 2008 was 80% of adults (83% in France), which is about the same as in the USA. The French and Germans work fewer hours but output per hour is close to American levels.

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Senator Lamar Alexander is a kind of misssionary for electric cars and for a major push with government assistance in this area. A bill sponsored by Alexander and Senator Byron Dorgan plans to designate 5 to15 urban areas as model locations for electric car use. These areas would get money for infrastructure such as recharging stations, and people in the areas would get an additional tax credit to take the tax credit from $7,500 to $10,000. The bill has important provisions for promoting research at companies and universities to improve electric car batteries. $1.5 billion would be allocated for research in electric car batteries, and a $10 million prize for the person or company able to build a battery with a 500 mile range. The total cost- $10 billion.

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Sears adjusted earnings before Ebitda are a negative $250-300 million for the period July 26-Oct 26, 2013. Management is reducing investment in the retail stores. As a result there is a deterioration in the conditions at stores making it less attractive for shoppers to go to Sears. There is severe price competition from Amazon and online stores for established retail companies such as Target and Best Buy making it even more difficult for Sears to compete. Analysts say Mr Lampert, CEO of Sears, is an asset manager and Sears liquidation is likely to continue with sale of pieces of the company as it is worth more this way. Lands End, Sears Canada, and the Sear Auto stores brand are expected to be sold to raise cash in this ongoing liquidation process.

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President Biden easily wins the Democratic primary in South carolina with opposing candidates not meeting the 15% threshhold in any district. President Biden told the crowd that "the days when the backbone of the Democratic party had to wait at the back of the line are over. Now you are first in the nation." That 14 million new jobs had been created. A promise made and a promise kept, he said.

"As I said 4 years ago this campaign is for every one that has been knocked down, counted out and left behind... We are leaving no one behind." Unemployment is at 3.7% and unemployment among Black Americans is the lowest in decades at 5.2%.

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Brexiters dream of a revival of colonial trade links with a nostalgic view of Britain. The idea of "global Britain." Yet there is a flaw in this vision as only 3.3% of Indian exports went to Britain in 2016, and 17% went to EU countries. As an exporter Britain barely comes into India's top 20 trading partners. Part of the reason is that British companies build domestic plants in India. Much of the optimism comes from the UK-India Technology partnership agreed between prime ministers Modi and May in April 2018. 

On a trade deal the EU is working on this since 2007 so a trade deal will take a long time in negotiations.

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Seniors represented 23% of the Japanese population and 29.5% of spending in the budget in 2010. The rapid aging of the population has increased concern about the large deficit. Japan's parliament passed legislation that would double the sales tax to 10% by 2015.

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Governor Cuomo's budget for New York in 2011, at $132.9 billion, is 2.7% less than the prior year. Cuts to medicaid and local school aid, each amount to $2.85 billion This helps close roughly half of the budget gap of $10 billion.

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Ezra Klein on the three questions on which the Supreme Court will decide after three days of hearings on March 26-28, 2012- the Anti-Injunction act, The Individual Mandate, and Medicaid Expansion. Related to the Individual Mandate question are Severability issues.

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A 46 year old pro-market Socialist investment banker leads the government advisory group at France's Lazard bank. He is the lead negotiator of debt restructuring for Greece, working out the details in Greece's debt negotiations with the ECB, and the EU.

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President Obama's nationally televised speech on Sept. 10, 2013 about the need to keep the military option for strikes in Syria alive, and an acknowledgement of the war weariness of the U.S. after two wars in the Middle East and South Asia.

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The agreement reached Dec. 12, 2012 to setup a single supervisory authority for large banks in the eurozone is a major and historic step. The ECB takes up this role after parliaments in the eurozone countries ratify the agreement by March 2013.

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Daimler's plans to invest $870 million in China. Daimler will take a 12% stake in its partner BAIC Motor, and take a controlling stake in the joint venture sales company. China is becoming an important part of the operations of German auto companies.

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The new tax proposals would affect AGI at 235,000, increasing rates from the current 33% to 36% under the new proposals of the Obama administration, intended to have the affluent pay a larger share of taxes to meet the needs of this crisis.

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Th Bombay Stock Exchange closes after the Sensex surged by 17% in one day, after the decisive election victory of the Congress party, winning all but a dozen or so seats needed to have a majority at 272 seats in the new Parliament.

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With UAW contracts expected to expire Sept 15, it is not clear whether the UAW will agree to a large trust that will adminster health benefits for workers. This trust would handle all automakers health liabilities and would get funding from the automakers.

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Elections in Ghana with 2 technocrats vying for the vote. With new oil discovered in Ghana additional revenues of $10 billion may be generated according to government estimates. Ghana is one of the few African countries with a long history of democratic processes.