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Intel chairman Andy Bryant tells analysts in Nov. 2013 that he was personally embarrassed by the missteps in not investing enough in tablets and mobile devices and that Intel was paying the price for this. Intel executives say they realize the other aspects of Moore's law that says intelligence and computing will migrate to ever smaller devices such as tablets and mobile devices, and still smaller devices, as they confront a PC centric past.

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About 9% of the total taxes in Texas and Louisiana for fiscal 2013 are from severance taxes for extraction of oil and gas, according to Nelson Rockefeller Institute of Government. For Alaska this is 78% and for N. Dakota 46%. A prolonged oil slump will reduce growth in the oil producing states including Wyoming and Oklahoma. Rainy day funds in N. Dakota and Texas will help meet spending for the next 2 years.

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Klee, along with Chagall, Kokoschka, and Picasso were painters shown at the Venice Biennale in 1948 following the war, and were commended for their efforts in defending cultural freedom in western Europe during a dark period. His paintings are now shown at the National Gallery of Modern Art in Italy in 2013 in a special exhibition- "Paul Klee and Italy." Klee trained in Munich, Germany, in 1898, and was part of the Blaue Reiter group.

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Delayed FDA approval of diabetes drug Tresiba in the U.S. market. The FDA requested additional testing data which Novo Nordisk says it cannot provide in 2013. Novo Nordisk has 27% market share in the diabetes market with its fast acting NovoLog insulin. Sanofi has 19% market share with its long acting Lantus insulin. Tresiba was approved for use in Europe. About 44% of Novo Nordisk drug sales in 2012 were in the U.S. market.

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Mark Landler's interview with Hussain Haqqani in Oct. 2013 provides insights into the misperceptions on both sides of the U.S.-Pakistan relationship since 1947. Particularly the way Pakistan cannot shake free from seeing everything through the prism of India. He points out that Ambassador Holbrooke had a forward looking approach to the South Asian region, but failed to get the support of president Obama and the weak leadership of president Zardari, resulting in a squandered opportunity for the region to look beyond the twentieth century's conflicts towards a brighter future.

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The 25% auto imports tariff goes into effect April 2nd 2025. How much will it increase prices in the US for automobiles? The average is about 10%, say some experts cited in WSJ. This includes price increases on higher priced brands such as German brands BMW's and Audis, Mercedes Benz, and VW cars made in Mexico to ship into the US. It also includes European car makers including Stellantis that make cars in Europe and Mexico to ship into the US which could lose market share to American car makers who make most of their cars in the US. Ford makes 80%, GM 60%.  Overall US international Trade Commission in 2024 looked at the 25% US tariff in a study and showed 5% increase in auto prices in the US. President Trump's call to GM and Ford asking for restraint in pricing may be coupled with the government returning some of the money in tariffs revenue pool to American or foreign manufacturers investing more to make more cars in the US including to Hyundai which announced a $21 billion investment. More such investment decisions are expected from Japanese automakers. For example Subaru has capacity for 450,000 cars in Lafayette Indiana plant and sells 650,000 cars in the US. One would expect it to increase the capacity of the plant or add a new plant in the US. The Japanese government and Japanese business will have additional incentives to invest in the US because of the US support for Japan in the Asia-Pacific, US openness to give trade benefits to Japan in the post war period, incentive to make the Republican DJT plan for tariffs to work as a united Japan-US effort. This would include restraint on pricing.  Toyota is in much better financial shape than VW and has a large market share in the US which it will work protect with pricing restraint and more US investment. Only VW and German luxury car makers BMW, Mercedes may not cooperate. Yet VW sells only 300,000 cars in the US compared to 2.3 million for Toyota. BMW and Mercedes sell luxury cars where buyers could absorb the additional luxury brand cost without impacting inflation overall. Some of VW's car sales would be absorbed by American and other automakers considering VW was losing market share and nearly exiting the US market. before this. ...

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Amitabh Kant reflects on his 6 years at Niti Ayog planning for development in India. He says energy transition is an important part of development for India. The integration of India as a major part of a new supply chain for the free world is a critical part of India's development. Kant talks about the aspirational districts program that covers transformation of the lives of 80% of India's people living in 112 districts. Moving India up by 79 positions on the World Bank Ease of Doing Business rankings is also one of the tasks he looks back at with a sense of achievement. Parmeswaran Iyer who headed the Swachh Bharat and Jal Jeevan Missions will now be new head of NIti Aayog, the organization that is driving India's development to 2030 and 2040. Niti Ayog stands for National Institute for Transforming India. Its pillars are- 1. Pro-people  2. Pro-Activity  3.Participation 4. Empowering 5. Inclusion of All 6. Equality 7. Transparency It has a maximum of 4 members. Suman Bery is vice chairperson appointed in March 2022. The members are appointed by the prime minister. It is different from the earlier Planning Commissions under Nehru in that it does the work of being a think tank yet the allocation of funds and decisions come under the prime minister and the finance ministry. ...

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Emmanuel Macron faces a challenging situation in  the 2022 second round. He badly needs left wing supporters of Mr. Melenchon who came with one percentage point of right wing Marie Le Pen. Macron had expressed right wing sentiments about immigration and terrorism even more than Le Pen during the year leading upto this election. That this has alienated some left wing supporters is evident in a nIpsos poll for FR24 that shows 30% or about a third of the 22% of the voters that supported former Socialist candidate Jean Luc-Melenchon are likely to vote for Le Pen, who has campaigned on the issue of cost of living and softened her image and position on the European Union. 34% of Melenchon's supporters said they will support Macron and 36% said they are undecided. It is this undecided vote that could make a difference. Add to this the 25% of the voters who did not vote at all and the election depends on who can convince this segment. To reach these voters is Macron's main concern in the 2 weeks before the second round of the election on April 24. Macron says he will campaign hard-"from dawn to dusk, in direct contact with voters." He will have to offer something that convinces working class voters who some see he has humiliated during his first term.  ...

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The rapidly changing situation in energy is shown by the $15 billion German government rescue of Uniper, which contains the legacy fossil fuel assets of Germany's E.ON electricity maker. The war in Ukraine has made energy security a priority, leaving fossil fuel assets at risk of getting stranded. This is what happened at Uniper as Germany moves quickly to develop renewable sources to replace Russian fossil fuels. Clean energy investment is increasing rapidly as many green energy options are cost effective. Two thirds of electricity is generated in countries where it is cheaper to build new solar or onshore wind facilities than to run existing gas or coal powered facilities. Offshore wind with newer technologies will soon be cheaper also. Higher fuel and emissions prices, the cost of running older facilities in extreme weather, also increase risk of stranded assets.   To understand how quickly the situation is changing and can lead to stranded assets - solar energy is now half the cost of energy from coal or natural gas at today's prices as shown in the graphs in this WSJ article. Large investment in research and new technology will only decrease the cost of solar and wind energy to 2025 and 2030, increasing the investments in renewable energy and speeding up the curve for transition to renewable sources, with the added impetus of government support to achieve COP26 targets. ...

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This report in DW.com shows that Germany is only now coming to grips with Merkel's policy to China. A policy that had no idea where the relationship was headed and no grasp of its implications for Germany in the way that Merkel's policy shaped economic relations with Russia with an overdependence on natural gas supplies. It is left to the newly elected Greens-SPD coalition to face the consequences of that policy as Germany faces rationing of gas for the winter between industry and households. Annalena Baerbock, Germany's Foreign Minister says clearly that it is unacceptable that force should be used in international relations. Baerbock told a UN conference - "We do not accept when international law is broken and a larger neighbor invades a smaller neighbor in violation of international law- an of course that also applies to China."  Clearly China and Russia are different in their economies and industry. China is the world's largest exporter and depends on international law and freedom of navigation on the oceans as a trading nation that it has become with over 1 trillion dollars in exports in 2022. It is through freedom of navigation on the oceans and respect for international law that an exporting and manufacturing nation that makes for export is able to conduct its affairs.    ...

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The epitome of massive distortions in the way capital is allocated in capital markets of the last two decades even as healthcare, childcare, manufacturing technologies and infrastructure was starved of captal funding is Masayoshi Sen and Softbank which posted a $23 billion loss in the April-June 2022 quarter. This is one and half times the loss in the first quarter. Heard on the Street in WSJ dismisses Mr. Sen's contrition on these losses as this will continue into the future it says, and is simply the style of these types of extreme speculation funds. It obscures a larger problem in society and in America and Europe of capital markets giving the pass on such wasteful use of capital on huge scale amounting to trillions of dollars and not funding desperately needed healthcare, education, infrastructure, childcare and other needs of the 900 million people in these countries. Even the claims of profits hangs hollow on the necks of these investments, with dubious selection of many projects. Capital returns are insignificant or zero as the WSj says many of Softbanks funds have net zero gains since 2017. Yet extravagant demands for capital are met with extravagant supply where the needs or reasoining are the least credible in today's distorted capital market allocations causing egregious harm to the 900 million people of the US and Europe.   ...

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The Indian Express looks at a draft of the National Curriculum Framework of India, which modifies the current system of rote learning and separation of the sciences and engineering from the humanities and liberal arts subjects. The current system leaves the students at secondary level lacking the foundational skills for a modern economy. NCF tries to address this. In line with the multidisciplinary approach taken by the National Education Policy (NEP) for India in 2020, the NCF encourages students to develop multidisciplinary thinking skills by mixing arts subjects and humanities with science subjects and math. The NCF proposal is to assess students in grades 10 through 12 over 4 years and not one board exam every year. This fits in with NEP's vision for a 'holistic" education.  The NEP "envisions a reenergizing and complete overhaul of the higher education system including moving towards a more multidisciplinary undergraduate education." The NCF takes this to the school level. Indian Express points out that combating climate change for instance requires a knowledge of science and manufacturing, but also of politics, sociology, economics, and other disciplines. The significance of humanities in the Fourth Industrial Revolution is shown by many research papers, says this editorial.  To avoid rote studies and memorization instead of critical thinking skills, the NCF sees room for play, activity, discovery and discussion based learning. ...

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This article in The Times says UK business has already moved to ESG, the idea that business is also about environment, social and governance, ahead of Thatcherite era cabinet ministers Rishi Sunak, Priti Patel, Liz Truss and Dominic Raab. This was evident during the Tory conference in Manchester.  Boris Johnson is moving in line with voters and ahead of his ministers who are aware of the changes in the conservatives appeal to voters. Johnson is not attached to any preconceived idea of what the Tories are about. His only concern is to be where voters are and think like the voters, this is where he is happy being. Voters in Britain today think business is more than being about profits. New polling by the Social Market Foundation shows changing attitudes in the Conservative party and its supporters. In 2016 48% of Conservative voters thought it was important to remove regulations and rules for business. In 2021 this has fallen to 27%. Today economic fairness is a big concern. Inequality was a concern for 15% of Tory voters, today it is 28%, higher than Tories concern about removing regulations. Business leaders have also moved on after the Brexit referendum and see the need for meeting a social purpose. Some business leaders think the Thatcherite thinking of some cabinet ministers is "decades out of date." ...

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This obituary for FW De Klerk looks back at the dismantling of race based rule of Apartheid in South Africa in 1992, the release of Nelson Mandela, and elections in 1994 through universal franchise. This was done by the son of a schoolteacher in the Transvaal region who rose to the top through the provincial leadership. De Klerk took the actions to bring racial harmony after growing up as an Afrikkaner and working in the local politics of the National Party that introduced Apartheid rule. Before 1989 reforms in the Botha government left black people on 13% of the worst land in the country, tribal homelands in which they did not even live in, in a distorted form of representation. Limited representation was given to Indian ethnic minorities and colored people.  All this changed between 1992 and 1994 after De Klerk assumed leadership of the National Party and the government in 1989. This required great courage and statesmanship, and vision from De Klerk to set the foundations for a multiracial society that even Margaret Thatcher and Reagan failed to grasp and promote. De Klerk died in 2020. For Mandela the path was clear, for De Klerk the path had to be forged out of nothing and against the natural instincts of his own party. This saved south Africa to become a true multi racial society with respect for the rule of law and democracy. ...

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The protests in Chile that started with a subway fare increase and then into protest against inadequate pensions, poor health care and schools, have turned into violent protests with extensive damage. Damage to supermarkets, stores and other businesses is estimated at billions of dollars. Damage to the modern Metro is about $370 million dollars. The economy will grow at 1% this year after growth of 4% in 2018.  The government plans a $5.5 billion stimulus, and the central bank could sell $20 billion including a quarter of its reserves to support the peso currency.  The government of president Pinera has only a 13% approval rating. A December poll by COES Santiago think tank shows 65% of Chileans support continuation of protests, and found that 89% of Chileans planned to back a new constitution. The old constitution was designed in a way that led to poor support for retirement and inadequate pensions. It also led to increased inequality in this country of 18 million. This constitution was drafted during the Pinochet dictatorship  and has now lost its legitimacy along with the rest of the political leaders. A referendum will be held in April 2020 for a new constitution.  The copper mines that support Chilean copper exports are intact and the country has low debt, which should help Chile invest in a recovery with the stimulus. ...

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The mirage of progress presented from Silicon Valley in the form of FTX crypto exchange ends with $8 billion in losses to investors and a 25 year sentence for the founder in 2024. More proof of the excesses of the "free to choose" post-Reagan era with misallocation of capital leaving the vital needs and priorities of America unfunded, underfunded, or totally neglected from infrastructure, health, education to climate change action. An aversion to government taking action where it is needed that goes back to the 1930's when Franklin Roosevelt said in the State of the Union speech to Congress in 1935- "We have, however, a clear mandate from the people, that Americans must forswear that conception of the acquisition of wealth which, through excessive profits, creates undue private power over private affairs and, to our misfortune, over public affairs as well. In building toward this end we do not destroy ambition, nor do we seek to divide our wealth into equal shares on stated occasions. We continue to recognize the greater ability of some to earn more than others. But we do assert that the ambition of the individual to obtain for him and his a proper security, a reasonable leisure, and a decent living throughout life is an ambition to be preferred to the appetite for great wealth and great power."   ...

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The need for earth friendly diets is shown in this editorial in The Guardian. Animal based products account for 57% of greenhouse gas emissions compared to 29% for food from plants. An outsize meat and dairy industry accounts for about 15% of the world's greenhouse gas emissions according to UN message in 2021. Mr. Dimpleby is Britain's food minister. He says a 30% reduction in meat eating would make it possible to have sustainable land use in Britain. The Guardian says high income countries are eating double the meat, poultry and fish products that they should be eating for living within the planetary sustainable living boundaries- that is to have no net environmental damage. Go back to the periods before 1600 and European, American, high income countries consumption of animal based foods was a fraction of what it is today.  A new legal regime is seen as a fair, just and sustainable living oriented solution. The Netherlands is doing just this to reduce the size of its large animal and dairy industry as a step towards more sustainable living and planet. It is not easy to convince farmers yet the public supports such a move. With the fires, floods and drought in Europe there is increasing awareness that action needs to be taken even where it is difficult.  ...

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With a shortage of nurses and healthcare workers, some hospitals are dropping the vaccine mandate for healthcare workers. Shortages existed before the pandemic. The burnout for healthcare workers led to people dropping out. The lure of high pay has also led to nurses to travel to hot spots further crimping supply of workers. Recently workers who do not want ot get vaccinated have quit the industry or lost their jobs, some have left for facilities that do not follow the vaccine requirement. CDC estimates 30% of healthcare workers at 2000 hospitals in the US are unvaccinated as of September 2021. The Biden vaccine mandate would be effective for second shots by Jan. 4. A federal judge in Louisiana has ruled in Nov. questioning the president's authority for a vaccine mandate. Following that ruling HCA, AdventHealth, Tenet, Cleveland Clinic are among the hospital chains reversing earlier decisions for vaccine mandate. Other hospital chains in California Kaiser Permanante and in New York Northwell Health have kept the vaccine mandate. Kaiser had 98% staff vaccinated, with a similar situation at Northwell. Kaiser has 210,000 employees and Northwell 77,000. Utah Mountain also has 98% vaccinated.  Research on vaccine mandates suggests them to be effective. U Penn psychology research shows people are more likely to get encouraged to get vaccine than discouraged with a vaccine mandate not vaccinated working in healthcare in September will shrink considerably by January. ...

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A new state government in Bihar state, India, takes shape with Nitish Kumar as Chief Minister and 2 Deputy CM's from the BJP party. Bihar is the second largest state in India after Uttar Pradesh, with Maharashtra the third, West Bengal fourth making up the top four by population each with over 100 million people. Rajasthan, Madhya Pradesh, and Gujarat make up the top 7 states each of these three with about 75 million population. Rapid economic development depends on state governments working with the federal government on investment, technologies and effective governance. Gujarat and Maharashtra form an industrial core for India with investment increasing in Uttar Pradesh and Madhya Pradesh which forms the rural interior in the Ganges plains. In contrast to China where industrial development is state driven led by the CCP in a centralized form embedded in the complete authority of the central government, India has to achieve this through the democratic process based on delivery of infrastructure projects and standards of living. Much of this depends on the combined effort of federal and state governments ,with seven of these eight states having this coordinated effort in 2024, at a time when foreign investment in the economy is increasing rapidly to diversify global supply chains. This provides an opportunity for India to change from a developing economy to an advanced industrial economy in stages by 2030 and 2040. ...

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Lane Forsheim has this interview with tennis player Andre Agassi who won the Grand Slam in The Open era in 2003. Agassi suggests living in the present and avoiding future tripping thinking and solving problems for the future which may not exist. Agassi describes his daily routine. He says pickleball is a great way to exercise without thinking of exercise especially for over 50's. Agassi works for 3-4 hours a day and then plans his daily life around this. He loves the way Alcaraz, Sinner and Medvedev have brought new life into tennis as an exciting game to watch. Agassi talks about marraige- he is married to Steffani Graf, who also played tennis in the top ten. He says know yourself and you can't come into a relationship needing the other to be complete.  For breakfast he has oatmeal with protein or some granola and fruit. Less well known is that Andre Agassi is from Las Vegas, and has a thoughtful autobiography "Open" that is remarkably honest about his survival in the competitive world of tennis after many struggles with parental pressure to win. Yet he comes through having made his own choices. He started the preparatory Agassi Tennis academy for underprivileged children. When Sinner won the Australian Open yesterday he thanked his parents for not putting pressure on him for letting him try different sports. ...

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  $112 billion out of $170 billion in new investments resulting from Biden's 2 climate laws, and the bulk of the 200,000 new jobs are being pushed by president Biden into Republican states. Republican voting states including many southern states are getting the largest share of the hundreds of billions of dollars in renewable energy investments by the Biden administration. Two new climate laws were passed by Biden without many Republican votes in 2022. WSJ offers a visual guide to where new manufacturing investment is taking place. It shows that three fourths of the $170 billion in investments by companies are going to Republican voting states. On a state wide basis this amounts to $112 billion for Republican states. Most of the public is unaware of the role of the climate laws in this new investment in manufacturing. This is why other presidents talked about manufacturing investment including previous presidents Republican and Democrat, president Biden has done the country a great service by making much needed investment in manufacturing and creating a new sense of hope in once neglected communities. Investments are being attracted to these states many in the south with easier land development and lower costs for labor, electricity, and lower taxes. This gives Republican states the ability to use their advantages in the best way and overcome the failure of many Republicans in Congress to support these investments with president Biden putting together bipartisan support.  ...

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Mr. Trump proposes a 10% tariff on all goods imported into the US at Columbia, South Carolina, says this report in WSJ. A universal tariff of this type is similar to Herbert Hoover's Smoot Hawley that brought on the Great Depression in the 1930's in outright beggar thy neighbor policies which don't work, says WSJ. This opinion describes the impact of such a tariff in failing to reverse the trade deficit which is $951 billion in 2022, but fails to point to the lack of effectiveness of tariffs alone in bringing back American manufacturing jobs. As president Biden has pointed out the Trump administration made much talk about returning American jobs but did not accomplish much for American manufacturing to lead the world in the way the Biden administration has done. To do this the Biden administration passed laws to fund a entire new electric car industry, renewable energy industry, and promoting other industries in advanced technologies, including aerospace, to bring back America's leadership in manufacturing of most of the twentieth century with a bold vision for the future. Mr. Trump lacks the experience on this issue and is simply playing the rhetoric to his base without any plan to deliver the goods to sections of the American public that have already suffered the most from decades of neglect of manufacturing by Republicans going back to Reagan and Bush, Democrats Clinton and Obama. ...

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This article in the Los Angeles Times "Shifting tides for Obama in 2012" puts things in perspective for the situation Biden faces in the 2024 campaign.  The LA Times points out in its report by David Lauter October 30, 2011, that among white working class voters the defeat Obama experienced in 2008 will turn into a rout in 2012. It says the rising racial diversity and increase in college graduates were only two factors helping Obama and this also was in doubt in 2012. The 2009 financial crisis had led to high unemployment and poverty among Hispanic households and also affected black people. The soured economy put Obama at risk in 2012. The rout among white working class voters for Obama in 2012 turned into a complete rout for Clinton in 2016. The Obama coalition looks like a one time affair and an aberration in America where white non college graduates almost all vote Republican. By putting white working class and factory voters firmly in the Democrats camp as they were for the last century and building a strong economy and manufacturing Biden now brings back the America of TR, Wilson, FDR, Truman and Eisenhower. By putting the struggle to improve the lives of working people at the heart of the democratic process Biden is rebuilding the America that transformed a less developed agricultural nation into a modern industrial economy. ...

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When Daniel Henninger of WSJ Editorial Board says in the adjoining article/video that to get anything done with something like the current split Congress a newly elected Republican president would have to operate by executive orders and could get little done, he is referring to the stalled Ukraine aid legislation in the US Congress after passage 70-20 by bipartisan vote in the US Senate. Legislation is stalled in the 2022 newly elected US House of Representatives with a group of Republican Congressmen called the Freedom Caucus seeking to block all legislation if it does not get its way. The now famous line "dead on arrival" line of Speaker Mike Johnson of Louisiana for legislation passed in the Senate for Ukraine aid. Pew Research looks at the change in the House and explains. It says about 49 members of Congress are part of or aligned to this group. About 71% or 35 of 49 members have less than six years of experience which includes 9 freshmen, compared to 58% or 100 of 173 Congressmen of all other Republican members of Congress. And two thirds of Freedom Caucus are from the South compared to 46% of all other Republicans in Congress. It is striking that only three are from states such as Wisconsin, Illinois and Pennsylvania or a mere 6% for Northeast and Midwest.  ...

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US president Biden campaigns in Nevada. His focus is on the cost of living actions and has proposed 15,000 affordable housing rental units on underused federal land repurposed for housing, action which can be taken on presidential orders. Other cost of living action is being prepared by Biden and he closely follows the mortgage rate increases from 3% to 8% that are leaving families stuck without owning an home. Biden is also focussing on the threats to democracy coming from the former president's rhetoric and actions, something that he devoted time to in his address in Philadelphia's Independence Hall, where the founders of this Union gathered together to draft the Constitution. This happened early in his first presidential term and in the 2020 campaign Biden focused on this threat to democracy. Peter Baker points out that Biden is best qualified to convey a sense of hope to America, yet what the NYT, W. Post and WSJ, and the television news channels -that are not watched as much by the core 25-54 years with a shift to digital- fail to do is to do their own introspection on how Biden has forged the consensus in Congress from his vast experience and wisdom to make the multi trillion dollar investments in America's future through infrastructure, job creation, manufacturing, chips and science. Not since FDR has America seen this happen and it shapes 2030. ...