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Van Dam says its not that great being a worker in the U.S. because it is hard for the unemployed resulting from competing with workers in other countries with lower wages, and for those who are unemployed harder because worker collective bargaining is weakened over 3 decades. He cites a 296 page OECD report showing very little government support for unemployed and at risk American workers. It says this has contributed to higher income inequality and larger share of lower income people than almost any other advanced a nation. Only Spain and Greece are shown as having more households earning less than half the median income- showing large numbers of people are poor or close to being poor. In the U.S. an average of 1 in 5 lose their jobs each year, and 23% of workers 15 to 64 are in their job less than a year in 2016. The job churn hurts workers because of firing and layoffs being frequent, more than is healthy for a economy. The U.S. and Mexico are the only two countries not requiring advance notice before firings. And fewer than half of workers find a job within a year in the U.S. Two in three families with a displaced worker fall in poverty for some time. Unemployed workers with typically 26 weeks support get less support than any other country in the study. Only 12% of workers in U.S. are covered by collective bargaining. ...

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Walmart new CEO John Furner from the University of Arkansas with deep connections to Bentonville similar to retiring CEO McMillon. Mcmillon made a decision not to buckle under pressures of Wall Street/CNBC and NYSE in the fall of 2015 as he invested $2.7 billion to build cleaner better stores and to raise wages from $7.25 an hour to $9.00 an hour that year, even though share price dropped 10% and continued to drop. Wages are now $18 an hour in 2025 and parental leave, free college and technical education, planned promotions, other benefits made Walmart a good place to work. Walmart has grown every year since. Its sheer size with 2.1 millon employees means that it is a bellweather for the US economy. Other companies copied Walmart and this has raised wages across the board for lower income workers. With cost of living concerns in 2025 imagine where we would be as a nation without courage of the men who run the companies that run America's economy if wages had stagnated at levels below this for people who still live paycheck to paycheck. ...

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With China's automobile market declining for the fifth month in a row, and trade tensions rising, it now appears that carmakers such as Ford expanded too quickly in the Chinese market. Ford, Peugeot, and Hyundai appear to have poorly times their expansion in China, expanding at the tail end of the Chinese boom just ahead of the new Trump administration's efforts to challenge China's lopsided trade balance.  It has become so bad that this report shows workers at a Peugeot factory in China spending their days washing floors and attending Communist political study sessions at work. At a Ford plant workers shifts are reduced to a couple of days a month. Sales grew 3% in 2017 and declined 2% in the first 11 months of 2018, after increases of 14% in previous years taking the market to 28 million in a dizzying ride as it surpassed the U.S. sales of 17.5 million. Overcapacity is a problem in China with the aggressive expansion. There is capacity to make 43 million cars, but will produce 29 million in 2018, according to PwC, consulting firm. Ford meanwhile put in a new plant in Harbin in 2017, expanding its capacity to 1.6 million a year, but sales peaked at 1.27 million in 2016, and are down 6% in 2017, and 34% in 2018 to about 700,000. While there are no layoffs some workers are making only $220 monthly, forcing them to take second jobs as cab drivers or couriers. Suzuki decided to quit in 2018 exiting China entirely just so it would not pile up losses in what is now a market that is way overblown from the boom years. Electric vehicle production in the pipeline of about 7.5 million vehicles will compound this problem further with 32 new plants planned by 26 firms.   ...

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Edward Johnson and daughter Abby Johnson- Fidelity Investments succession turmoil and Abby Johnson emerging as CEO is covered in a new book- House of Fidelity by Justin Baer, Deputy Markets Editor WSJ. CEO Edward Johnson (Ned) failed to come up with a succession plan and executives under him were planning to sell the company to Chase or another bank. Ned had talked to Chase's Dimon in 2005 and said he was not interested in selling the company founded by his father. Yet this is what executives under Ned, Reynolds had in mind, who did not have confidence in Abby Johnson's leadership. Fidelity Investments has recovered from poor performance in that period and manages the pension plans of employers in the US, being the largest in this business. In 2026 Fidelity manages life savings of 20% of American adults and 50% of these customers signed up in last 5 years, says WSJ. After a period in her performance in the mutual funds business which was not great Abby was listed for demotion by executives under her father, who would sent her to run the philanthropy part of the business. It shows how awoman now 64 years struggled through this period and took the bold step of defying her father through control of 41% of the stock of the company to gain control of the company- a step that led to her father relenting and letting Abby run the company. It is a tale of how in such situations even the most favored can be put at a disadvantage by perceptions - in this case by Reynolds of Abby's leadership and ability- and need to act swiftly and decisively after impressions have been formed that lead to an outcome that doesn't need to occur. Her father Ned even though he in his younger period was a good stock picker, failed in two ways. By not planning a clear succession and lacking confidence in his daughter to overcome temporary obstacles. ...

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How to build a global port network with less cash- China's state owned Cosco and it's European ports network is an example of savy buying during financial crises, and when companies in Europe and the US were keen to make sales of ports. China simply integrated it into a vast exports network, using containerized terminal expansion modernization to build its manufacturing for export model. This was an extension of its domestic network where it added new port infrastructure to newly built rail and road connections.  India today is learning from this example. By 2000 the Chinese global export model was entrenched. It was also the year when the junior Bush president extended the wars of Reagan/Bush in Iraq of the 1980's to Afghanistan. China had a clear road ahead to build state of the art infrastructure of ports, logistics and exports over the next 10-15 years without any defense costs.  Piraeus in Greece south of Athens, a port concession acquired in 2004 Antwerp in Belgium (Austrian Netherlands), a minority stake in a container port acquired in 2008. In 2013 with sale of Terminal Link ports in a 49% stake deal by CMA of France holding 51%, China has stakes in Zeerbrugge and Antwerp, Busan South Korea, and Le Havre, Montoir and Fos in France, Xiamen in China, Miami and Houston in US. Rotterdam, Netherlands- Cosco acquired in 20126 a 35% stake in Euromax Terminal in Rotterdam from Hong Kong's Hutchison's Holdings for $125 million. Valencia and Bilbao majority  51% stake for $270 million, when JP Morgan paid as much as $950 million to ACS of Spain for these ports after the 2009 crisis led to Spanish divestments. Today in TEU's shipping containers China sends goods to Europe 10 times what it takes in through Spanish ports. Hamburg-In May 2023 Germany's Scholz overruled Habeck to let sale of 24.9% of Hamburg port to COSCO go through ...

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Geert Wilders Freedom Party wins 37 seats in the 150 seat Dutch parliament. Dilan Isigloz leading Rutte's party gets 24 seats who also seeks control of immigration.  Netherlands is already seeing a surge in sentiment against high levels of immigration. About a quarter of all immigrants, 403,000 in 2022 up 150,000 from 2021, 103,000 are from Ukraine and 257,000 or 64% are from EU countries (Statistics Netherlands). Mark Rutte's coalition government collapsed when he sought curbs on immigration. A left alliance got 24 seats and Timmermans's EU party got 24 seats.

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Sprint's agreement with Softbank to sell a 70% stake to Softbank for $20.1 billion. Sprint has lagged behind Verizon and At&T in offering Long Term Evolution, or LTE, data service. It is struggling with $21 billion in debt and needs the additional investment to support investment on the next generation technologies. Softbank was working on reducing debt estimated at $13 billion and building its LTE network in Japan. The deal for Sprint Nextel therefore comes as a surprise with the additional debt Softbank is taking on, even though Masayoshi Son, the CEO of Softbank, is known for taking on large deals. Softbank shares declined 17% after the first information came out and have dropped an additional 5%. Sprint shares were up 14%.

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Questions about the viability of Canadian crude oil production from tar sands and shale as oil prices for Canadian crude are at about $17 in Jan. 2016. Western Canadian Select from Alberta traded at about $14 in Jan 2016. Crude oil NY benchmark is at $31, other crude is priced lower if transportation costs and other factors including quality and grade have to be figured in.

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Apple may have peaked in pricing and market share. Apple is not increasing US prices on the new iPhone 15 as it sees a decline in its 19% market share in China. With newer smartphones from competitors Apple wants to avoid an erosion of its share in the US market. One drawback in the 2015 iPhone is the switch to USB ports which means ordering a converter for the lightning cables which Apple prices at $29. New European Union rules have led to the change. 

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Generic version of Zocor by Merck to reduce bad cholesterol is now available and can substitute for Lipitor which costs $2 to $3 per day. This generic can be bought at Costco at 10 cents per day. Generics can have a huge impact on cost for patients and for the country's medical bill and for affordable health care its very important to achieve affordable health care.

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Proceedings of the National Academy of Sciences on microplastics endangering 4-14% of food supplies. This could affect 400 million people worldwide with danger of food security challenges. The danger to food supplies as microplastics contaminate agricultural environments is as big a threat as climate change affecting food supplies.

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Congressional Budget Office projections show the difficult choices facing the U.S. - tackling the deficit by letting the Bush tax cuts and the payroll tax cuts expire will lead to low growth. The alternative is growth with much higher deficits. GDP growth would be at about 2.3% in this fiscal year if the payroll tax cut is kept till December 2012. In fiscal 2013 if a number of tax cuts are permitted to expire and across the board spending cuts take effect as scheduled GDP growth would decline to 1.1%. Taxes would increase by $465 billion in 2013 over 2012 if tax cuts expire - individuals and companies would pay $2.99 trillion in taxes in fiscal year 2013 in that scenario. Spending cuts would take effect in Jan 2013 for $1.2 trillion over 10 years. The result- " a sharp fiscal contraction" in the words of CBO director Elmendorf. Unemployment would go up to 8.9% in 2012 year end and 9.2% in 2013 yearend from 8.5% today, if no agreement is made to extend tax cuts and block spending cuts. The risk of not taking the debt reduction actions is to let the debt grow to $11 trillion over 10 years, an unsustainable path, compared to about $3.1 trillion over 10 years if tax cuts are permitted to expire and spending cuts take place. This is the tough choice facing America in 2012, and comes when Europe is facing similar tough choices....

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“The world needs more energy. The world needs more resources, and U.A.E. wanted to be unconstrained by any groups” says UAE energy minister, Suhail Al Mazrouei. On May 1, 2026 UAE with 12% of OPEC cartel production (3.6 million barrels a day) will leave OPEC. It is a change in strategy of where and how to sell oil production in the future. UAE including Abu Dhabhi oil company says it is time for it to pursue its own national interests. As its economy is diversified including tourism and other sourcesd of revenue, UAE puts volume before price support. Saudis are not diversified and seek to maintain price support and keep fossil fuels way into the future. Qatar and Ecuador have already left the cartel. Since the old days of OPEC US has emerged as the largest producer, Venezuela is coming back as a major producer, changing the situaiton now that UAE is  also not betting on and supporting efforts for keeping prices high. This is good news for India and China, Japan, major buyers of oil and with large populations increasing demand. It also helps the US because of its diversified economy. ...

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Britain's general election results show Conservatives losing their majority in parliament. Conservatives gained 318 seats, but only because voters in Scotland voted tactically for Conservatives to avoid Scottish independence, leading to 19 fewer seats for the Scottish National Party. Labor gained seats in England and Wales. The Liberals added 3 seats. The final tally was Conservatives 318 seats, Labor 260 seats, Scottish National Party 35 seat, Liberals 12 seats Democratic Unionist Party 10 seats, others 13 seats, UKIP 0 seats. Conservatives can form a government only by joining with the Unionist Party based in Northern Ireland to have the 226 seats for forming a government. This election creates questions about the whole idea of Brexit, as a majority of the voters supported Labor, SNP and Liberal Democrats, with a total of 50.4% of the vote, according to BBC, for parties that did not see Brexit as the priority for Britain. Labor 40.0%, SNP 3.0% and LD 7.4%. By contrast UKIP, Conservatives and DU, pro-Brexit together had total of 46.1% of the vote. Any Conservative government is likely to be weak, and according to this report in WSJ may lead to new elections by the end of the year. The high turnout of 69% shows voters wanted to send a message about their doubts on Brexit. A Labor government cannot be ruled out. ...

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Ruffenach gives an excellent account of how many people describe their expectations and how it actually turned out in retirement, the good and the bad. He cites numerous examples to give as broad based a picture as possible. Health and active life, passions and interests, loss of self esteem in work for some and finding substitute interests, taking risks to try something new and the rewards. More people describe positive experiences in those surveyed. Health is the main concern for 41% in actual retirement, children and other things are all less than 10%. Travel should be planned early as it becomes harder as the years go by and one gets older. It is not as difficult as people think to make new friends in retirement, and this active social life with new friends can play a positive part in spending time. In addition there is the opportunity in retirement to take things slowly and leisurely, and spend time more on oneself and one's own interests.

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As the final Republican tax bill is debated in Congress on December 19, 2017, Senator Bob Casey cited the following points from the Joint Committee on Taxation Report on the floor of the Senate.  1. Americans building their hopes that their pay checks in February 2018 will be increasing are in for a big disappointment said Senator Ron Wyden of Oregon, a senior member of the Finance Committee. The Joint Committee on Taxation estimate is that for the 57 million families making less than 100,000 dollars a year the tax cuts in the Republican legislation will either not reduce their taxes or reduce the taxes by about $100 a year. 2. The bill does little for the big tasks facing America of rebuilding failing infrastructure. Senator Casey cited 4500 bridges needing repair or replacement in Pennsylvania alone. It also does little for health care access for middle class families and is likely to lead to 10% increase in health care premiums. Affordability of college and other hurdles of middle class and working class families remain unaddressed.   3. The $9 billion in the estate tax cuts would finance the Children's Health Insurance program which has expired.  4. The $36 billion in tax cuts for corporations comes at a time when corporate profits are at the highest they have been in 15 years, according to Vanguard founder Bogle. He also points out that wages as a percentage of GDP are the lowest in 15 years. The tax cuts in the Republican bill are not likely to correct this imbalance.  5. The share of GDP of people making more than one million dollars in 1980 was 11%, this is up now in 2017 to 20%. This has led to questions about the wisdom of these tax cuts which disproportionately benefit a very small percentage of Americans who do not need these tax cuts, and come with significant sacrifices for the middle class in terms of what is available in public services, and the cost to their children as infrastructure and access to health and education is made more distant because of a growing U.S. debt from this tax cut. The big problem then with this bill is that it further damages intergenerational mobility in the U.S., undermining the foundation of a democratic society. Damage has already happened in the past three decades as Federal Reserve chairman Janet Yellen pointed out at a conference on Economic Opportunity and Inequality on Oct. 17, 2014, saying-"The past several decades have seen the most sustained rise in inequality since the 19th century after more than 40 years of narrowing inequality following the Great Depression." This is why there is substantial agreement in the media from the Wall Street Journal's Greg Ip to Krugman in the New York Times that the bill fails to correct a harmful trend, and goes further in the wrong direction for a democratic society.       ...

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Pediatrics Association supports mandatory vaccination for children in defying CDC on this point. HHS Secretary Kennedy has different views on mandatory vaccination of children and the directives can be ocnfusing for parents. In states like Texas this is leading to children remaining unvaccinated creating real dangers as young mothers concerned about their children's health become hesitant about vaccination for 18 diseases.

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China adopts a two child policy nationwide in October 2015, abandoning a one child policy adopted in 1980. Experts had warned for years of a policy that would lead to fewer young people, and a rapidly aging society. UN forecasts show China will have about 400 million people over the age of 60 in 2030, 25% of the population in 2030, compared to 14% today if current trends continued. Growth of elderly people would burden the pension and health care systems. The birth rate of 1.4 children per woman is lower than in the U.S. today.

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A rice importer from Britain talks about the difficulties in importing rice. Contracts that lasted 12 months are now for 2 months and prices are up by about 15% for rice imports. Vietnamese rice is replacing Italian long grain varieties, yet there is only a limited supply of Vietnamese rice to meet world needs.

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Greg Ip of the WSJ cautions about thinking that the GDP growth of 3% is likely to be achieved with the Trump plan for a corporate tax rate of 15%. He says evidence from Britain and Canada- Britain reducing the tax rate from 30% in 2007 to 19% today, and Canada from 28% in 2000 to 21% in 2004- is disappointing. In Britain the increase in GDP averaged about 0.1% a year. Business investment increases with cut in corporate taxes, and the U.S. corporate tax rate is higher than other advanced countries such as Germany, yet GDP growth includes other factors, such as the business cycle, demographics, productivity growth, aging, technology, regulation, says Ip. It is better if the tax cuts are spread broadly over the population, and tax cuts are offset to a greater extent by savings in other areas, and that tax cuts promote productivity boosting investment, to create enough of a surge in growth above 2%.

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With 686 million doses of vaccine given to people over age 18 India has now given more vaccine doses to people than all the G7 nations combined- this includes US, France, Germany, Italy, Japan. About 7 million doses were given on a recent day in the first week of September 2021. About half of the population of 1.2 billion people is vaccinated with one dose and 17% are fully vaccinated.

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The smaller iPads like the Apple Mini 5S iPad are gaining in popularity. Apple has 32% of the iPad market. Samsung is gaining market share moving up to 18% in 2013 second quarter, up from 7.6% the prior year quarter, according to IDC. Apple is making the new iPad Air thinner and lighter from 1.4 pounds to 1 pound. The iPad Mini gets the high-resolution Retina display and goes for $400, $70 higher than the previous mini ipad which will now go for $300. Both iPads get faster processing chips, the A7 and the M7, and better antenna wifi connections. The new products will go on sale in Nov. 2013. Gartner estimates smartphone shipments at 1 billion and tablet shipments at 184 million for 2013. Tablets are expected to outsell PC's in 2015, according to IDC. The growth is rapid paced, with 2012 sales at 120 million tablets, increasing from about 17 million in 2010 when the iPad was first introduced.

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America had forgotten it's workers built America in a Clinton-Trump world. The Federal Poverty Level is $35000 - $40000 when entry younger UAW workers at lower tiers make $34000 a year during wage negotiations and a UAW strike in 2023. The contrast from 2016 could not be greater- no president in history except Biden on a worker strike picket line yesterday, Mrs Clinton oblivious about unions in the midwest in 2016. Mr. Trump saying wage negotiations not important as he visits Drake Enterprises, automobile parts supplier, in Clinton Township, Macomb County, Michigan. The Guardian reports most were small business owners, with  few autoworkers. Enthusiasm of small business owners high for Trump in this swing county in Michigan. In stark contrast to the 2016 campaign president Biden was seen the previous day with a bull horn at a UAW auto workers strike picket line, becoming the first US president in history to do this. Biden said "workers built the middle class." Trump said China was the enemy not low wages or incompetent bosses, saying "the current wage negotiations are not as important as you think," when workers had tiered wages from previous concessions on wages, with entry level wages starting at about $17 an hour. That is only slightly above the $16 minimum wage in California. America in the Clinton-Trump world had truly forgotten that workers in its factories built America, and workers families made America what it was for most of the century since Lincoln and the Industrial Revolution. ...

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There is over $150 billion of additonal spending on education in the Obama stimulus plan being worked on in January 2009. There are several important aspects of this plan. One action will prevent literally hundreds of thousands of layoffs of teachers, according to Education Secretary Arne Duncan, as revenues of local districts drop. In a response to requests from Democratic party governors Congress has allocated $79 billion to help states facing large fiscal budget gaps to maintain government services, and especially to prevent cuts to education services fro kindergarden to college. Another aspect is the effort to reinforce Title 1, a program of specialized classroom efforts to help educate poor children, by increasing 2009 fiscal year spending from $14.5 billion to $20 billion, and raise spending for disabled children from $11 billion to $17 billion. This helps meet the unmet needs of the No Child Left Behind program. Another effort on the stimulus side which would create jobs for construction activity and do this with spending that will bring benefits in future years for along number of years in the future, is the federal government now taking abig role in the building and renovation of schools. The federal government will now spend $14 billion for the renovation and modernization of elementary and secondary schools, and $6 billion for the same for higher education. The stimulus also has tax provisions under which the federal government will pay the interest on construction bonds issued by school districts. The Education Secretary says that the $20 billion for this will create a huge number of construction jobs because so much of the school system building infrastructure needs repairs. In the area of higher education the allocation for Pell Grants used for student aid is increased to $27 billion from $19 billion. These aspects of the stimulus program are ones that will pay off over a number of years into the future. ...

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Productivity as measured by GDP per hour worked was $44 in Italy in 2009. It has remained the same as in 1999. In the EU-15 (first 15 members of the EU) the GDP per hour worked increased from 47.9 in 1999 to 49.0 in 2009. For the U.S. this GDP in the same period went up from $56.0 to $58.0. This shows the lack of productivity growth in Italy. With the current focus on Italy's slow economic growth efforts are underway to make changes that would increase growth. GDP growth in Italy was 1.3% in 2010, compared to 1.8% for the eurozone, according to Eurostat. Italy's Minister for Public Administration Renato Brunetta says he would like to cut that gap in half. Some of the measures in the recently passed $40 billion spending cuts package, include efforts to help the underdeveloped southern region. This includes cutting red tape for real estate developers, and streamlining accounting for business. Italy's growth comes mainly from exports that make up about one fourth of GDP. But this comes from lower tech sectors such as textiles, chemicals and machinery, where it must compete with China and other countries. In May 2011 industrial output was up by 1.8% in Italy,compared to 7.5% for Germany. Another problem is the large and inefficient public sector and the gap between protected state workers and a younger generation- with one in three Italians 15-24 unemployed....