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Argentina and Repsol agree to a settlement of $5 billion in Argentine bonds for Repsol's 51% stake in YPF. The deal is brokered by Mexico's Pemex, which has a 10% stake in YPF. Argentina is seeking foreign investment and technology to develop its large shale oil and gas reserves. The settlement with Repsol is a step towards attracting large western oil companies to invest in Argentina.

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Brandon Johnson not just won the mayoral election in Chicago but also showed that putting the community effort forward to continue fighting crime, distancing oneself from extreme positions such as unfunding police, and energizing the community through a grassroots campaign works. When people can see and feel the candidate and that he cares for them, is grappling with the problems, it is possible to come from behind, for an unknown candidate like Johnson to win. Julie Bosman talks to people in Chicago to show how this was done. Mr. Johnson, a public school union leader won over a well known Democrat Mr. Vallas who fought the election on tougher action to fight crime, winning 51% to 49%. Mr. Johnson carried wards with black majority population by over 80%. Johnson pitched voters on a public safety plan that went beyond policing while supporting police yet getting the community involved. Johnson also did well in white neighborhoods along the lake and in the northwest Hispanic neighborhoods of Chicago. Bernie Sanders was out campaigning with Johnson in the final days of the campaign. And Representative Jesse Garcia also supported Johnson in the Hispanic neighborhoods. Mr. Quezada, a Cook County Commissioner for the northwest side says people just felt- "we want to be invested in, we don't want to just be punished."  ...

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Indian prime minister Modi shown in a meeting together with Biden of the US, Fumio Kishida of Japan and Albanese of Australia at the Izumi Gallery in Tokyo during the announcement of the joint efforts for launching and promoting the Indo-Pacific Economic Framework for Prosperity. The IPEF led by the US will have four pillars of trade and supply chain resiliency, clean energy and climate change action, taxes to promote investment in infrastructure, and good governance. Seven of 10 members of ASEAN have joined including Indonesia. India is a key partner of US and Japan for the new IPEF economic alliance. Prime Minister Modi of India says about IPEF- "India will work together with its IPEF partners to build an inclusive and flexible Indo-Pacific Economic Framework. I believe that resilient supply chains must be based on three pillar foundation of trust, transparency and timeliness, and I am sure that this framework will make these pillars strong and lead to prosperity, peace and prosperity in the Indo-Pacific region." Attracting large investments in India and other reliable partners in a new supply chain that shifts out of China are part of the Biden plan working together with Japan and South Korea. Investments directly into the US are also part of the same plan. Gina Raimondo US Commerce Minister says- "I would say, especially as businesses are beginning to increasingly look for alternatives to China, the countries in the Indo-Pacific Framework will be more reliable partners for US businesses." US National Security Advisor Jake Sullivan says the IPEF is intended to boost US manufacturing. By boosting US manufacturing and technological advancement with investments inside the US that directly benefit American workers and families the IPEF will serve the US and the free world in ways that will shape the coming decades to 2030 and 2040. With investments in the US will come investments in India as a reliable manufacturing partner to replace China by 2030 is envisioned by Jake Sullivan and president Biden. ...

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U.S. exports reached $2.34 trillion in 2014, increasing by $760 billion over the figure in 2009, according to the Commerce Department. Exports accounted for one third of the U.S. economic growth since 2009, say Pritzker and McNerney. Goods and services for exports supported 11.7 million U.S. jobs in 2014, and a Commerce Department 2010 paper shows these jobs pay 18% higher than jobs unrelated to exports. Commerce Department Secretary Pritzker, and McNerney, chairman of the President's Export Council, say free trade agreements and investment by private business is critical to supporting export promotion, but make no mention of the effect of the stronger dollar on future exports. In a period of a few months in 2015 the euro is approaching parity with the dollar and the yen is now 120 to the dollar, giving European and Japanese business a significant advantage, and raising questions about the strength of the U.S. recovery going forward.

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Mexico's GDP increases at 3.9% compared to 2.7% for Brazil in 2011. Foreign investment is increasing in Mexico especially in the automobile industry and in industries where Mexico is favored over China as a production location. The G-20 meets in Los Cabos, Mexico in June 2012.

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In the days when cross border technology flows were limited and the investment in India was small, India's technological capabilities at an early stage H1-B visa program acted as an exchange program where Indian engineers could gain experience and skills, learn new technologies in the US, that would benefit both India and the US taking a long term view. In 2025 when cross border technology flows to India from the US are large and significant, when Indian investment is large India's economy fastest growing and from a much larger base, with ability to absorb talented engineers in expanding Indian business, the H1-B program is one that drains both the US and India. India as a huge brain drain of 60,000 of its best engineers every year to 2030 or 300,000 of its best engineers and the 3 million engineers they would have trained locally through their creative talents. For the US it means the loss of 300,000 engineering jobs to 2030 for locals in 51 states in the Nation. Both make no sense. Business practices once set do not change. This is why an executive order by DJT was signed by the president to impose a $100,000 fee that Tata, Meta, Google, Microsoft, Apple can choose to pay every year for 6 years if they want to hire someone on H1-B Visas. To call this group of Indian H1-B of 60,000 engineers "dreamers" also makes no sense because 3.3 million engineers knowledge base and skills to India's growth capabilities and modernization could increase economic growth, modernization of Indian infrastructure, to make India a Dream State to live in. And the same number of American born engineers would make each of the America's 51 states Dream States through repowering America's new modernization of infrastructure and power economic growth. ...

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Germany will reach 85% of gas storage with Russian gas reduced to 10% of consumption by September 1, 2022. The next target is to get it up to 95% for German gas storage facilities by November 1, 2022. "The reservoirs are filling quicker than planned," German Economy Minister Habeck told Der Spiegel. The big part of gas supplies are now from Norway and Netherlands. And LNG supplies will come from France. 

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James McIntyre's book about Gordon Brown, (title is Power with a Purpose) who like Jimmy Carter, was more respected in retirement for doing good work humbly and not getting into a revenue generating speaker's circuit or consulting, or boards of directors of companies. McIntyre looks at his career, the involvement of Mandelson as Business Secretary, the failures of Mandelson and Blair in New Labour, and Gordon Brown's failure to revive the Labour Party. The Times says Gordon Brown has grown in stature since leaving No. 10 Downing Street. Under Blair, Brown was No.2 and headed the British Treasury as finance minister. He only became prime minister at the end of his career during the 2008-2009 financial crisis. He started the effort to redefine Labour Party after Margaret Thatcher defeated the Labour candidate from Plymouth Mr. Foot and swept out socialist Labour and the trade unions. Then followed privatization and changes in the British economy which were followed by Reagan in the US by 1980. Through this period Brown and Blair tried to create the concept of New Labour which won in landslides as Britain switched back to Labour as the alternative. As the Blair magic withered Brown was left tackling the 2009 financial crisis but failed to define what Labour was- his Business secretary was Peter Mandelson who unlike Brown was in Labour but in for his own purpose and had a cynical attitude to politics as a way to retire in some privileged business position on boards of directors. The result is well known Cameron and the conservatives who were even less qualified than an earlier generation of Conservative politicians, their decision to call the Brexit referendum, the verdict of yes on Brexit leading to Cameron's replacement by Boris Johnson, and Britain having 4 prime ministers in a span of five years as discredited austerity drive was replaced by Keir Starmer's Labour. This project with McSweeney as Starmer's campaign manager cleared Labour of socialist outlook Corbyn supporters, won in a landslide in 2024, only to fail to define the purpose for which Labour stood for and Starmer's ratings dropping to new lows of 18% support as Reform UK's Farage took up the issue of migrants and the culture that enabled migrants to enter the UK. Britain has been let down by two generations of less competent, poorly qualified for public service politicians over three decades since the 1990's- through Blair/Brown, Cameron, Boris Johnson and left struggling with Keir Starmer. Sixty years after decolonization of an Empire in the 1960's, Britain has not gained in purpose and strength, only drifting along as new powers emerge in Asia and the world changes. ...

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The long economic boom in Turkey under Erdogan appears to be coming to a close with president Trump's doubling of tariffs on Turkey's steel and the collapse of the currency Lira, leading to a dramatic decline in confidence of foreign investors. For years warnings have come about Turkey's overdependence on dollar denominated foreign loans to finance credit and growth, with the confidence of foreign investors finally shaken with the deterioration of relations with the U.S. over the arrest of a U.S. pastor leading to a tariff war.

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What did the Justices say about US Birthright Citizenship? Here are the words of what the Justices said in the June 27 decision of the US Supreme Court 6-3 blocking the district courts from overruling the Executive Order of the US president. From the outset the Justices sought to decide - was the district court in a state deciding on a case with individual circumstances for the plaintiffs, even by a stretch of the imagination going to decide over the judgement of the Executive Branch what the law of the land should be? SC went though British law, and US law during its history and found no such understanding of the courts. "In each case, the District Court entered a “universal injunction”—an injunction barring executive officials from applying the Executive Order to anyone, not just the plaintiffs. And in each case, the Court of Appeals denied the Government’s request to stay the sweeping relief. The Government argues that the District Courts lacked equitable authority to impose universal relief and has filed three nearly identical emergency applications seeking partial stays to limit the preliminary injunctions to the plaintiffs in each case." The Court held- "Held: Universal injunctions likely exceed the equitable authority that Congress has given to federal courts. The Court grants the Government’s applications for a partial stay of the injunctions entered below." ...

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Fronterra Cooperative Group Ltd. cuts it forecast payout for the current dairy season to 4.70 New Zealand dollars per kilo (U.S. $3.70) for milk solids, a sharp decline from NZ$8.40 in 2013. This reduces farmer incomes by NZ$6 billion. Farmers are culling herds and cutting the size of farms as it becomes unprofitable to remain in dairy farming. Milk makes up 30% of overseas sales for New Zealand. Lending to farmers increased 42% since 2008 to NZ$34.5 billion.

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U.S. Secretary of State Kerry visits Tunisia in Nov. 2015 and offers economic aid with $500 million in loan guarantees.

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William Dudley who spent 20 years at Goldman Sachs and was its Chief Economist, before his position as executive vice president of the Fed's markets group, will now head the New York Federal Reserve Bank.

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One perspective of what Silicon Valley is focused on is shown by Reid Hoffman. It does not mention climate change, not one word on climate change, no words on cost of living action, little is said about factories and jobs for reviving American manufacturing, helping workers and families and redesigning the world's supply chains. It is critical of addressing monopolies and regulatory action by the FTC even where it is needed. It calls for huge investments in AI that would leave little for investments in science, education, healthcare and infrastructure, and says "trust us to do the right thing." It calls for pro-innovation direction when pro-innovation has been the thrust of policy for three decades with the results that we have seen leading to widening gas between the upper and lower classes and shrinking of the middle, a pharma industry out of control in pricing, and negligible investments in education by so called "tech" companies who like Apple have outsourced manufacturing to China. A return to tech and Silicon Valley is not needed as embedding it in the nation's policy making priorities is the Nation's problem. ...

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Statements in the past including Senator Corker's about president Trump lacking "the stability" and "some of the competence" needed for the office of the president of the United States, have lingered since the campaign and his election. Michael Wolff in his new book which was less concerned about facts than engagement cited people in the White House circle saying the president lacked competence and did not read reports made for him. President Trump has responded to this by saying that he is a "very stable genius." The administration's supporters have reacted strongly in favor of the president pointing to his policy initiatives on taxes, changes in policy for North Korea and Iran, and plans for infrastructure, saying one has to look at the actions not the twitter stories.