LyrArc Article Gist
Tough terms and invoking of a systemic risk clause in banking law by Paulso to dictate terms to banks was the right call say analysts after all the dithering and missteps. It will lift the Tier One capital ratio of a bank like Chase JP Morgan from 8.3% it forecast as of Sept end to over 10% and will give a sizable boost to all bank ratios.

LyrArc Article Gist
Asylum hotel protests and illegal migrants in Britain filing for asylum at 111,000 cases in first 6 months costing $5.4 billion in first half 2025 alone. The Times of London says Starmer is cautious by nature, but strong action is needed going back to the source of the problem that illegal migrants do not belong in any European nation including Britain. The stark truth says Cowley in the Times of London is that having a battalion of British infantry on the coastline of France as it was during the Paris Olympics in France, is needed to keep the boats out of Britain with Britain moving out of the European Convention of Human Rights. That convention was not intended for this situation, just as the British system of justice was not intended for this situation for the people of other countries on other continents illegally migrating over oceans. Just as much as there is no Asian Convention of Human Rights for Europeans migrating over oceans to China, Japan or South Korea now industrialized nations with high standards of living and social protections for health care. ...

LyrArc Article Gist
Stamouli and Walker of WSJ describe the last days of negotiations in June before Greece pulled out its negotiating team, and German chancellor Merkel decided to call off the bailout of Greece. The impasse was over pension cuts and vaue added taxes, yet the negotiations were still going over details when Tsipras pulled out Greece's negotiating team with the surprise announcement of a referendum on July 5, 2015. By saying the Syriza party would call for a "no" vote Tsipras alienated public opinion in Germany. Chancellor Merkel seeing the shift in domestic opinion favoring Greece's exit from the euro during the tense months of negotiations with the Syriza government and acrimonious charges, moved to call off a continued EU bailout of Greece.

LyrArc Article Gist
This group of 26 leading scientists from Australia, France, Britain and the US are calling for a new international full, open and unrestricted forensic investigation into the origins of the coronavirus in its original location of Wuhan. This happens as scientists on the WHO investigation team in Wuhan say they did not have unrestricted access to conduct their investigation. The Biden administration has restored ties to the World Health Organization after the Trump administration cut ties on this issue of transparency. The Biden administration says transparency is an essential condition for the US as it seeks to continue US participation in WHO. The US, India, France, Britain and other European nations have a long history of participation in WHO and were original founders. Recent flawed election processes at WHO and the lack of effective leadership from western foundations have led to the lack of effective leadership of WHO that prevailed in post war world for the first five decades of the organization. Much of that leadership was from western nations, India and Japan, during a period in which the pandemics were managed limiting their spread from the areas of origin. ...

LyrArc Article Gist
French president Macron takes office for a second term saying that "the French people did not prolong his previous mandate." "This new people, different from five years ago, gave a new president anew mandate." Macron now faces a challenge in parliamentary elections from parties on the left led by Jean-Luc Melenchon. The left vote is now consolidated behind Melenchon and he could be the next prime minister under Macron, bringing in new voices into the Macron administration that were missing in the first term leading to a fracturing of French society and politics. This will be needed to unite France and tackle problems of loss of manufacturing to China, and surging inflation hurting middle and lower class households finding it hard to meet essential needs.

LyrArc Article Gist
A look at the need for serious attention to personal health, including the risks of obesity and poor health habits that are second biggest risk factor for deaths from coronavirus. Boris Johnson, Britain's prime minister has taken up new health habits, exercize and changed lifestyle, after going through a life changing experience. 

LyrArc Article Gist
The head of the European Centres for Disease Control ECDC, Dr. Andrea Ammon, says the Delta variant of the coronavirus will make up 70% of all cases in Europe by early August, and 90% of all cases by the end of August. ECD modeling shows that there is a risk of another wave like the one after last summer in Europe. The Delta variant is much more infectious than the UK Alpha variant and the UK variant much more infectious than the original variant. A 50% reduction in non-pharmaceutical interventions such as allowing the staging of events would lead to an increase in infection in all age groups. Latest ECDC data show 34% of people in Europe fully vaccinated and 57% with one dose. One dose offers much less protection. Younger individuals have a lower vaccination rate and are vulnerable. Also vulnerable are the older people not vaccinated yet. About 40% of people over 60 are not yet vaccinated, and 30% of people over 80 years are not yet vaccinated in the European Union. As in the US vaccination varies by region within the EU. All these vulnerable groups can be affected in another wave of the coronavirus similar to after last summer when restrictions were removed. Dr. Ammon is a former advisor to the German government. She says it is important for young people who are not vaccinated to continue to follow the strict social distancing precautions.  This is not happening today as governments are relaxing mask mandates in Britain, France and Spain. Soccer games are coming back to fan filled stadiums increasing the risk. Tourist spots in Portugal and Greece are now looking similar to the vacation spots in Croatia that increased infections in Europe after summer 2020. ...

LyrArc Article Gist
New US Homeland Security head, Markwayne Mullin in 2026, is from Cherokee Nation the only Native American in the Senate. The president call him "the Highly Respected." He replaces a controversial term of Kristi Noem, a South Dakota governor,  who failed to get support even among Republicans in Congress after the handling of the situation in Minnesota.

LyrArc Article Gist
Corporate CEO's including Appple CEO Tim Cook, and Target CEO, talk about de-escalation in Minneapolis and call for talking to each other. DJT also says he wants to see that there is "de-escalate a bit." Most do not mention ICE or immigration law enforcement. The situation in Minneapolis turned out to be counterproductive for immigration law enforcement particularly to reduce crime and increase safety in streets and neighborhoods which is one of the main ultimate goals. In such situations law enforcement acts as a role model in the tradition earlier Americans have set even while enforcing the law.

LyrArc Article Gist
US Treasury Secretary Yellen calls for Congress to authorize regulation of so called stable coins. TerraUSD founded by a South Korean developer has seen its price fall to 67 cents. Yellen said -"this is a rapidly growing product and there are risks to financial stability." At a Senate Banking Committee hearing Yellen said "we really need a consistent federal framework."

LyrArc Article Gist
This piece in the Economist magazine points out why people in Portugal, Spain and Italy resent the remarks of Dutch finance minister, Jeroen Dijsselbloem, current head of the Eurogroup council of finance ministers, In an intervew with Germany daily Frankfurter Allgemeine Zeitung, he said he was proud of the solidarity shown by northern European countries with the southern ones, but solidarity he said means obligations- " I cannot spend all my money on schnapps and women, and then ask for your support."  It also points out that Dijsselbloem's Labor Party lost three fourths of its seats in the recent Dutch elections and so is an unrepresentative presence in the Eurogroup. By supporting austerity policies in a coalition with a centre right party the Labor Party lost most of its seats. Dijsselbloem did this in the EU with strict rules for Italy for injecting money to recapitalize its banks and increase growth that have hurt Italy, and earned the resentment of Mr. Renzi, says the Economist magazine.He may even be replaced by an official from Spain or another southern European country, says the magazine. In any case it does little for EU unity at a sensitive time, and was a serious mistake. The timing was even worse, as the EU faces a test in elections in France and Germany, after Netherlands, and needs popular perceptions to be positive about what has been achieved since the dark days of 1945. ...

LyrArc Article Gist
Krauthammer says President Obama has failed to come out openly in support of the Bowles-Simpson commission's recommendations on deficit reduction. The recommendations were made in December 2011. The President's February 2011 budget did not take up these recommendations. He gets a sense that there is too much electioneering in the Obama posture on deficit reduction- being in the best position for the 2012 presidential election rather than a sincere effort. He suggests the Republicans pursue a short term debt ceiling hike of $500 billion containing $500 billion in budget cuts by passing this in the House. And couple this with a call to follow the Simpson-Bowles recommendations which, in one option, cut $1.1 trillion of deductions, credits and loopholes while lowering tax rates across the board to a top rate of 23%. This would give enough time to come up with a thoughtful and open effort with public scrutiny, and is preferable to the current closed door negotiations without the deliberations necessary for decisions of such far reaching consequences. Failing this there is the McConnell Plan B. Boles- Simpson focussed on tax expenditures as a key part of their plan. Martin Feldstein and other experts also point to limiting or eliminating "tax expenditures" (the deductions and loopholes that reduce revenues) as a key part of the solution to the U.S. deficit problem....

LyrArc Article Gist
A new Made in India 4G network is taking shape under BSNL. Rupees 24,000 crore have been allocated by the Indian government for this effort.