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Misallocation of huge amounts of US capital (trillions of dollars) away from healthcare, seniors and retirees, childcare and education into AI in the US is becoming an issue in the midterm elections of 2026.

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The U.S. China trade and tech rivalry continues with the arrest in Canada of Huawei CFO Meng Wanzhou on U.S. request for extradition. The reason appears to be a violation of U.S. sanctions against Iran. President Xi has taken steps in the past to protect Huawei, as a top priority, scuttling Qualcomm's acquisition of NXP Semiconductors NV. The merger with the Dutch Company would have threatened Huawei in its race to dominate 5G networks.

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US National Security Adviser Jake Sullivan has confidential conversations with Nikolai Patrushev a key adviser to Russian president Putin to avoid any further escalation of the war including nuclear threats, says this report in WSJ.

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Retirement in America 2026- what to watch out for- $6500 per month full time home health aide. There is  $45.8 trillion in US IRA's 401 (K)  in 2026. It was half that in 2015. People are saving more 8-12% of income. A lot of it invested in arget dated mutual funds. Yet older Americans, seniors are facing poverty- 15% in 2025 compared to 10.7% of older Americans living in poverty in 2021. cost of living has hit this group the hardest. Removing the tax on Social Security could be prescient, popular and fair for these Americans, as suggested by DJT. If invested well this $45 trillion could give the US leadership in investment for decades to come as it grows with good management of investments raising living standards and financing the Nation's rebuilding of infrastructure in all areas.

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Tom Verde of the NYT describes the problem of too much clutter in our lives. This problem is especially acute for seniors and older people, who have along the way piled up a huge number of things that their children do not need and which they have difficulty getting rid of. As seniors downsize there is only this much space. Moving from a house in the suburbs to a smaller apartment means that much less space for all the things no one needs. This problem has led to the growth of a senior move service that can cost upwards of $2500.

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Loss of savings of seniors and banks- failure in US fraud protection legislation in Congress and bank's lacking strtong action to fight such fraud behaviour against seniors.

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A career diplomat who as served in Kenya and at the UN , and at the Beritish Embassy in Washington DC replaces Lord Mandelson as British Ambassador to the US. He is chosen over Varun Chandra Business Adviser to Sir Keir Starmer on the advice of Sir Olly Robbins, the most senior civil servant in the Commonwealth and Foreign Office that a career diplomat is the right choice. Lord Mandelson was asked to resign after involvement in the Epstein files.

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The Washington Hilton is the same location where an earlier shooting happened- of president Reagan. Putting over 2000 people and most of the cabinet of the US including Bessent and Hegseth, Kash Patel all in one room was never a good idea from the beginning. Hotels are always harder to secure completely presenting their own risks. Many senior people from business were also in the audience. A smaller gathering of key reporters and in a private setting is better suited for this type of event.

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BBC cites a senior Foreign Office (Whitehall) figure about Starmer's appointment of Mandelson when the vetting raised serious questions, in this way-"it sums up Starmer's premiership: a man who claimed he was grown-up public servant turns out to be hopelessly out of touch with the detail." It cites many people from the UK Foreign Office and their concern about how the Labour government under Starmer has handled the Mandelson issue. Weith elections coming up, the BBC says this issue is not going away.

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Michael Corkery catches up with the indefatigable Paul Volcker at the office he shares with Richard Ravitch on the fourth floor of Rockefeller Center. Ravitch reminisces about events in 1975 when he tried to get a loan for New York City from the head of the New York Federal Reserve, who at the time was Paul Volcker. Today both men are working on another municipal crisis- the financial crisis facing U.S. states. They have raised $2 million from foundations and other sources, and hired a staff. They plan to publish a report on the crisis in 2012. The idea is to throw light on the issues so that the public can understand this better. Volcker says work is more relaxing than fishing, even though both men have spent much time fishing. The conversation drifts to the Occupy Wall Street protests and Ravitch says people forget what Teddy Roosevelt said about the malefactors of great wealth. Volcker insists it was Franklin Rosevelt, Ravitch says its Teddy.

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Average refund was $3642 for 100 million households in the US, above the $3116 in 2024 tax year by 10 percent. The IRS had sent out $241 billion by April 15, 2026, 14% higher than the $211 billion by April 15 2025. For people in the low wage restaurant industry it makes a big difference. One couple, a chef and a waitress took the no tax on tips and the car loan deductions from the "Big Beautiful Bill" of DJT, and instead of owing $12,000 as in 2024 got a tax refund of $26,000 for 2025 tax year. This family an immigrant from Spain says- “They’re not able to pay us a livable wage. ... If we were only taxed on our wage, not tips, that makes so much more sense for the cost of living here in New York.” 23 million households took the overtime tax deduction. Seniors qualifying got a $6000 deduction to get an additional $1320 in refunds.