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Washington Post Original article ›
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The recent appointment of fast food executive Andrew Puzder as Labor Secretary has caused great concern among union leaders. Puzder supports a $9 minimum wage compared to $15 supported by Democrats. Unions now represent 7% of the labor force, down from a high of 20% during Reagan's time when Reagan appointed a construction company executive as Labor Secretary and cut regulations.  Globalization has thinned the ranks of workers in unions. And the failure of Democratic administrations to stem the shift of factories overseas to China, Mexico and other places, as part of global supply chains focussed on cost, has weakened Democratic support among workers since the period of Bill Clinton. It eroded to the point where Obama won 65% of support among unions and Hillary Clinton won 56% in 2016. Interestingly the Republican Romney gained 33% versus 37% for Trump, showing voters were more inclined to move away from Democrats and only a smaller number willing to support Republicans, but the shift enough to give Republicans a win in 2016 for the presidency. The figures are from a Election Day survey of trade union AFL-CIO, and a larger proportion in midwestern states showed disaffection with policies from Clinton to Obama. In fact Obama spent years promoting another free trade agreement TPP that favored tech more than auto and older industries, just as Bill Clinton had promoted NAFTA, without giving thought to what this was doing to its worker base of support. A similar situation happened with Social Democrats in Germany as a SPD administration moved to the centre and handed Christian Democrats led by Merkel a win in parliamentary elections. As Democrats such as former Labor Secretary Reich, a professor at UC Berkeley who served under Bill Clinton, describe the problems of working class people their is less reflection on the impact of the changes from globalization and how Democrats handled or mishandled it, and more on the politics between the two parties.   ...
Wall Street Journal Original article ›
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Brazil's oil company, Petrobras, has 55.7% of voting shares controlled by the government. Petrobras's nonvoting shares make up most of the widely held stock, which has increased significantly in recent years. Petrobras is Latin America's largest publicly traded company with market value of $96.9 billion. Oil production by Petrobras is 1.9 million barrels a day, larger than Brazil's expected consumption of 1.85 million barrels a day for 2006. The policies of former President Henrique Cardoso are credited with making Petrobras competitive. Cardoso passed a constitutional amendment that allowed foreign companies to compete against Petrobras. And he put new managers from banking in charge of the company, leading to significant changes in how the company was run. With new deepwater drilling oil production increased by 12% a year during the Cardoso years 1997-2002. Under the Lula administration Petrobras has also reflected the government's social goals by delaying passing on price increases in gasoline and cooking gas and limiting the price increases. Under President Lula the CEO and senior managerial appointments for Petrobras have come from the ranks of his political party, the PT. Jos Eduardo Dutra, and Jos Gabrielli are members of PT. Under the Lula government Petrobras faced little competition from foreign oil companies and Petrobras dominates the Brazilian oil sector....
Washington Post Original article ›
WSJ Original article ›
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As one group of B-2's headed west pver the Pacific, another group quietly headed east to bomb the Iranian nuclear weapons development sites. The intent was to carry out the decision made by the US and the EU and tacitly supported by Russia, China, India, and the world, to prevent the proliferation of nuclear weapons. It is now evident that since the beginning of 2025 the number on priority of the DJT administration in foreign policy was to end Iran's effort to get a nuclear weapon. This is why the US DJT administration brought together Gulf regimes Qatar and UAE, Saudis for $2 trillion in business and economic deals in a DJT visit in May 2025. It is also evident that when India launched air strikes on Pakistan terrorist bases in June the US president DJT ended the war quickly in 72 hours. The Pakistan military head met with DJT in the White House a week back. This was preparation for the plan to take out the nuclear sites with minimal regional instability, a goal of the American people after Reagan/Bush miscalculations in supporting Hussein in Iraq and creating the Middle East wars Americans have had enough of. It may close a chapter of violent conflicts in the Middle East to be replaced with US support for India, UAE/Qatar/Saudi, Pakistan economic deals economic agreements. Much of the Indian media fails to understand this. The job of a US president if done right has responsibilities to the Nation and the World, after all the missteps of his predecessors DJT is stepping into this role. ...
BusinessWeek Original article ›
SPIEGEL ONLINE Original article ›
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Galston of the Brookings Institution says globalization has hurt workers in manufacturing with job losses and declining incomes. It has produced outcomes that have favored some industries such as tech, and not others such as automobiles which in the past helped create the broad middle class by offering good paying jobs to people with less than a college education. Immigration has created an issue that political leaders outside of the main parties have appealed to in France, the U.S. and Britain. The result is a polarization in the voters that has rarely been seen to this extent before. The middle class in the period from the 1950's to the 1980's is not the middle class that we see today in Europe and the U.S. The 2008 financial crisis added to the problems with the slow and uncertain recovery for some groups such as white men, the less educated, students, and people on minimum wage. 

Wall Street Journal Original article ›
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Greece's political parties negotiated through the night of Feb. 9, 2012, over the details of the 130 billion euro aid package from the EU and the conditions laid out by the troika of the EU, IMF and ECB. The political leaders Papandreou and Samaras agreed on wage cuts -with a 22% cut in the minimum wage- and public sector job cuts, but resisted deep cuts in pension benefits which would leave a 300 million euros shortfall in 2012 budget targets. This is part of 3 billion euros in austerity measures set by the EU finance ministers as a condition for further aid. Another sticking point was the serious consideration given by the EU, according to EU economics commissioner Olli Rehn, that the 130 billion euros be placed in a special escrow account so that Greece's private creditors would be paid from the account before money was taken out for the Greek budget. This was seen by Greek political parties as an infringement of Greek sovereignty. The EU is requiring all the main political parties in Greece give written pledges agreeing to the program and the Greek parliament voting to approve it. The language used by Greece's finance minister, Evangelos Venizelos, as he put the choice to Greece, shows the difficult choices facing Greece, Venizelos said: "If we see our future and the salvation of the country in the euro zone, in Europe, we must do what we must do in order for the program to definitely be approved...If our country, our people prefer another political decision that necessarily leads out of the euro zone and therefore outside European integration, we have to say this clearly to ourselves and to our compatriots." Because the agreement is designed to get Greece's debt to 120% of GDP by 2020- it asks for a decade of austerity measures. Some experts say Greece is better of defaulting like Argentina and going back to the drachma to recover export competitiveness. Another factor complicating this is the rapidity with which the Greek situation is deteriorating and the lack of political consensus on austerity measures, with all poltical parties enjoying less than 25% support in the country making political party pledges meaningless. Elections are due in April 2012. The EU and Germany may be too focussed on getting through a March 20 deadline for a bond payment of 14.5 billion euros- because of nervous financial markets- and not able to gets its hands around the problem of long term unemployment and deteriorating economic situation facing Greece. Greece's unemployment rate increased from 18.2% to 20.9% in just one month from October 2011 to Nov. 2011, according to Elstat, the government statistics agency. Another difficulty is that the EU ministers may see the achievement of European unity as progressing without any pauses and corrections of course, as if in a straight line, when achievements of a vision of this kind take many years and problem solving; where even a Greek withdrawal from the EU could be a temporary step towards eventually rejoining in a better EU framework. ...
Wall Street Journal Original article ›
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Italy's prime minister, Mario Monti put it best when he said in a speech in Brussels in April 2012: "If a country becomes more productive and competitive, but there is no demand for its products domestically or around it, growth will not materialize." There is a new shift in opinion towards a balance of fiscal discipline with growth measures to get Europe back on track. The feeling in different parts of Europe is that the German view of austerity alone will not work for Europe. And the view is coming from the far right to the far left, from Marie Le Pen, far right presidential candidate in France, to the far right leader whose move to withdraw support to the government in Netherlands on the issue of austerity measures led to its collapse. Geert Wilders, leader of the Freedom Party in the Netherlands, said: "we don't want our pensioners to bleed just to meet the dictates from Brussels." The IMF has put out research that questions what is now called "the German hypothesis." The "German hypothesis," is based on the unique experience of Germany with the Hartz reforms under chancellor Schroeder which were based on wage restraint by workers, the German "kurzarbeit" program of government support for retaining workers with lower pay during cyclical downturns, improving competitiveness of German companies, and conservative budget practices. There appear to be two exceptions to this. One is that demand has to be strong outside or domestically for a country to reduce unemployment and improve productive capacity utlilization as it increases competitiveness. This was the case as Germany made the Hartz reforms under Schroeder. Wage restraint acts as a form of devaluing currency for reducing the cost of its products to improve exports. All leading parties and the unions are now in favor of wage restraint and lowering wages to preserve jobs to improve France's competitive position. Germany had the benefit of a decade to implement these reforms to reduce unemployment, because demand was not declining domestically or around it during its reforms. The situation is different in Spain where in all likelihood demand would shrink further with unemployment rising from 25% to higher levels, and higher sales taxes. This is why Francois Heisbourg, special advisor at the Paris based Foundation for Strategic Research, says about the current situation in Europe, that destroyiing Greece with strict austerity alone wasn't something the EU can look back at with the sense of having done the right thing, for Spain it appears misguided and lacking careful thought. The editors of the Wall Street Journal expressed the same sense when they described the March 2012 bailout of Greece as a tragic sideshow, because the main purpose was to buy time and insulate the other larger economies in the EU by giving the French, Spanish and German banks time to improve their financial position. The Journal called it bad for Greece leaving it with debt at 120% of GDP till 2020 and no economic growth, and bad for democracy as it was done against overwhelming Greek public opinion- The Tragic Greek Sideshow, Feb. 22, 2012. Volker Perthes, director of the German Institute for International and Security Affairs, a Berlin think tank, says the Germans have always viewed German leadership in Europe with discomfort, and would prefer a leadership where several states, France, Italy, Spain, and other countries in the EU coalesce around consensus positions. This is historically true for the German position since chancellor Adenauer. With the Free Democrats in decline, and the Social Democrats and the Pirate party doing well in recent German elections and favoring consensus in Europe, Merkel's Christian Democrats need to rethink their policy to give greater weight to economic growth for a consensus position in Europe. ...
BusinessWeek Original article ›
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Tom Keene of Blomberg BusinessWeek talks to a panel of experts about the future prospects for the US and the global economy. The discussion was spurred by Carmen Reinhart's paper at the central banker's Jackson Hole, Wyoming, conference. This paper forecasts high unemployment, low housing prices and very low growth in the US upto 2017. Shiller, Calomiris, Orszag, Kaufman and Bill Gross are part of this panel. Shiller's to do list main item is to get help to local and state governments by restoring general revenue sharing arrangements. Gross would focus on jobs that can hold up in a competitive economy, and put back some of the production that is taking place in the developing countries back into the developed countries, as part of a rebalancing; through a currency realignment. Kaufman would like to see a capital expenditure program by the US government, including infrastructure and education. Calomiris would like to see a setup of a new Republican Congresss to set the stage for post 2012 efforts. Calomiris favors cutting entitlements, cutting payroll taxes, but is not clear how this would help lower the deficit. Orszag points to feedback from business leaders suggesting a lowering of payroll taxes will not spur hiring, as the real reason for not hiring was low 1-2 % expected growth. Shiller, Kaufman and Gross see government efforts as realistically needed in the current situation....
Wall Street Journal Original article ›
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Problems facing Saudi Arabia in 2015 as King Salman, 79, takes over are an aging leadership, and lack of new solutions to problems facing the economy overly dependent on oil revenues and social spending. Like other Persian Gulf economies the oil sector makes up a large part of GDP- 44% for Saudi Arabia, and 59% for Kuwait. Under King Salman policies will remain the same as under King Abdullah. Social spending was boosted after the protests and political change in the Middle East in 2012-2013. Even with a drop in oil prices to below $50 a barrel high social spending and reliance on public sector jobs to meet the employment needs of young Saudis will continue. Young people under 25 years make up 47% of the Saudi population of 29 million. No new income streams are being pursued and taxation is not even considered as an option. The private sector is led by non-Saudis and is under financed with most employment generated in the public sector. Growing oil consumption inside the kingdom with its growing population is also likely to reduce the quantity of oil available for export in the long term. Reserves of $750 billion provide a buffer for now, but long term Saudi Arabia faces a structural deficit, says Steffen Hertog, an expert on Persian Gulf political economics, at the London School of Economics. ...
WSJ Original article ›
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Mike Pence on DJT and the Republican Party in 2025. Mike Pence puts a score on the First 100 Days of the DJT administration. The WINS- The Border- Mike Pence says border crossings are down. Crossings were 140,000 in March 2024 under Biden, a year later they were 4000 or 3% of the previous crossings. A video of gangs was shown at the DJT rally in Warren, Michigan, the Linken Riley Act and other efforts to put spotlight on victims of crime- this is doing what even legislation would take time to produce results, putting into effect a democratic mandate and the rule of law, this is not arbitrary or by force. US military capabilities- Mike Pence points to the attention to defense, yet makes no mention of the US Navy. How can the US build when it has stopped building ships to the point that it takes 6-7 years to build simple frigates in the US by European companies, when 55% of shipbuilding is done in China with ships built in 1-2 years. How is the US without restoring its industrial base going to build its Navy? This is a question Mike Pence, the Conservatives in the Republican Party have to answer. Or if they do not take on this question are they using a playbook that is obsolete, was obsolete for a decade, and is now dangerous as if this opportunity to rebuild is not taken USA may lose its leadership in the world. Foreign Investment coupled with US and US Government investment- Mike Pence and Conservatives in the Republican Party, Wall Street interests say the US is losing foreign investment through its tariffs program, and faults it for targeting Europe, Canada, India, America's allies. DJT includes these countries because it makes it easier to come to an agreement with China that offers to abide by the original rules of fair trade when it is not singled out. It is to convey beyond a doubt to China that the US intends to play fair and expects the same from China as one of China's friends throughout its struggle with British and Japanese imperialism and colonialism. In this Wall Street fails to understand what happened to China, the history of Gen. Joe Stilwell in China in fighting the Japanese in China 1920-1945 A fact check shows Mike Pence and Wall Street are not right, foreign investment as shown on the White House site is about $5 trillion in commitments, it includes a commitment by Korean, Japanese and European, America's own companies to invest in American manpower and jobs, in American communities across 51 states.   ...
NYTimes.com Original article ›
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About 2.6 million eligible to vote people in Michigan and 3.5 million in Pennsylvania, and 1.3 million in Wisconsin did not vote in the 2016 election. The critical states this time are also Michigan, Wisconsin and Pennsylvania, and these three states went to the winner by less than 10,000 in Michigan, 20,000 in Wisconsin and 50,000 in Pennsylvania.  A NYT analysis of Census Bureau data for 2016 election reveals that most of these people who are eligible but do not vote have lost interest in both parties that show little interest in delivering for them. Many of them are shown to be lower income voters, voters doing 2 jobs, or voters struggling financially. Some are single child parents in today's social structures. Getting a small portion of this vote can make a difference in a close election.  From 1840 to 1900 the percent of voting age population that voted has been between 70 to 80%. By the 1920's this dropped to about 50%. And it has been around 55% since the period of the Great Depression except for elections in 1952 and 56 for General Eisenhower and 1960 for John Kennedy. Even Harry Truman's whistlestop train campaign in 1948 got only 51% out to vote. Even the Roosevelt FDR three campaigns in 1932, 1936 and 1940 got 52-58% of voting age population to vote. The highest of any election was the election that led to the Civil War in which Lincoln won where 81% of the voting age population voted. Is it possible that America was a relatively much more prosperous country in the period 1840-1900 before large scale immigration from poorer parts of Europe and then poorer parts of Latin America and Asia, and large scale urbanization. With ample land and independent farmers in the nineteenth century leaving less scope for the poverty that exists in urban areas and social decay in rural areas and small towns that is seen today. Resulting in a much more civic consciousness and awareness of America's future and destiny than exists today. By comparison voter turnout in India has increased to 66% in 2014 election and 67% in 2018 after alternating high and low between 50-60% since 1947. Some forecasts are for a high turnout in the U.S. in 2020 to exceed 60%. The bright side for democracy is shown by the 911 million people who voted in the last Indian election of 2018. ...
Wall Street Journal Original article ›
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The U.S. Labor Dept. reported that nonfarm payrolls increased by 243,000 in January 2011. Of this number the private sector made 257,000 job additions and the government sector suffered job losses of 14,000. The professional-business-services industry added 70,000 jobs, including an increase in temporary workers. Manufacturing employment went up by 50,000 jobs. The unemployment rate dropped by two tenths of a percentage point to 8.3%. Another measure of unemployment the U-6 rate which includes job seekers and those in part time jobs went down by one percentage point to 15.1%. The U-6 reached a high of 17.1% in Sept. 2010.
WSJ Original article ›
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The huge investments that president Biden has made in America, including rebuilding aging infrastructure are part of the reason that the economy has been resilient with unemployment at about 3% and inflation coming down from 9% to 3%. In March 2022 leaders in finance such as Ray Dalio of Bridgewater Associates and Jamie Dimon of JP Morgan Chase were convinced that inflation would not come down and the economy would be in recession. Instead Fed's Jay Powell with repeated rate increases and Joe Biden by investing trillions of dollars in rebuilding infrastructure and creating new jobs and new factories have done what the leaders of American corporations were skeptical about, doubtful about whether this could be done.

Wall Street Journal Original article ›

Zero for August

Wall Street Journal Original article ›
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The Black teen jobless rate in 2011, the third year of the Obama administration- a shocking 46.5%!
Le Monde.fr Original article ›
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Moderate far right, right and socialist have less meaning in the context of the French government of prime minister Michael Barnier. The NFP as the largest single party sees the turning down of it's moderate candidate Lucie Castets by Macron as not representative of the vote. Michael Barnier's choice as prime minister from the Les Republicains party with 47 members in the new National Assembly, the smallest of the top four parties NFP, Renaissance, RN and LR, means he will have to depend on Marie Le Pen's RN party to remain prime minister. Together the Les Republicains of Sarkozy and the Ensemble of Macron  have 213 members in the National Assembly representing the status quo, 168 for Ensemble Macron and 45 Les Republicians the Gaullist party. These two parties are the largest bloc combined compared to 182 seats for the socialist NFP Front Populaire and the Le Pen party with 143 seats. The strange twist is that Macron started out in the Socialist Party and was part of the Socialist administration of Francois Hollande, who formed his own party Renaissance (now Ensemble) to bring younger faces and replace the old political parties. This led to the decline of the Gaullist Les Republicains party. In 2024 Macron is back to the old parties- becoming part of an alliance with the old Les Republicains Gaullists. Yet the financial crises of 2009, the pandemic, and the inflation crises in France have changed France from what it was in the Gaullist De Gaulle period in the 60's to 90's, with a struggling lower and middle class who have shifted their support to Le Pen and to the Socialist Front Populaire. Barnier is left with the challenging job of combining new immigration policies (Le Pen) with socialist policies to help the middle and working class. A new consensus that says stopping migrants is part of helping working class (in Denmark and other EU countries) is how Barnier has to approach this situation to bring together different parties. ...
Wall Street Journal Original article ›
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The Tokyo National Stadium design approved by a 2012 panel headed by architect Tadao Ando, is scrapped by prime minister Abe of Japan. The design was by the firm Hadid Architects in Britain. Public criticism over the cost of the project for the Tokyo Olympics led to its cancellation. The original project cost estimate was 130 billion yen, with the new cost almost double that of 252 billion yen. Surprisingly Tadao Ando says it was not the panel's job to figure out the cost and he did not have any idea what the cost would be when the design was selected. The debt problems in Greece began with the Athens Olympics. And it is widely thought that president Putin spent too much ($47 billion) on the 2014 Sochi Winter Olympics, especially now that Russia's economy is contracting and there is a need for stimulus spending on useful infrastructure.
Wall Street Journal Original article ›
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Antonio Horta-Osorio of Banco Santander, is a Portuguese native who took up the task of turnaround of Lloyds Bank after the British government took a 39% stake in the bank during the financial crisis. He is credited with a major turnaround, making it possible for the government to sell 6% of its stake earlier than anticipated. He reduced the dependence on short term funding sources and sold off assets overseas. He has also strengthened its retail banking operations in Britain. He took on the task with a micromanaging approach and had to be admitted to a rehab clinic after 5 sleepless nights. Following this period of two months of recovery the Board rehired him in Jan 2012 and he delegated tasks to other managers. Osorio was a senior manager at Banco Santander when he took up the Lloyds job. The stock price of Lloyds has soared in 2013.

Help Displaced Workers

New York Times Original article ›
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Lawrence Katz, professor of economics at Harvard, suggests a government subsidy for companies creating new jobs of 40% of the payroll costs. He also proposes spending of several hundred billon dollars to help state and local governments reduce layoffs and invest in education infrastructure, and for investments in research and development and productivity enhancing infrastructure.
Le Monde.fr Original article ›
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The French view of the DJT administration is that it is a rupture, an "historic rupture with immigration repression, aggressive trade policy, and undermining of federal and state institutions." This is far from the reality. In fact it is not a rupture, and far from that policy that DJT brought in the waning days of a tired cautious Obama administration that extended the war in Afghanistan long after it was clearly a failure from the Bush years. DJT called it common sense during his Inauguration speech waving his hands- so obvious, stay out of wars we have no purpose pursuing. Regain America's manufacturing base shipped out to China in the Clinton-Bush-Obama years 2000-2016 that helped the rise of China in phases of supply chain partner, competitor, adversary. French view Le Monde is that this is "aggressive trade policy," when in fact small towns across the US and France, and other industrialized EU nations, by losing their factory and industrial base to China have gone downhill losing jobs and standard of living. Tariffs and DJT policy was continued by Biden- there is no rupture. What French in Le Monde call "Immigration repression," is a policy of protecting border security including illegal drug and fentanyl flows and gang activity that was accepted by Biden and Biden-Republican Lankford legislation was agreed in 2024 to close the Border. There is no rupture from Biden on closing the Border.  With millions having crossed the Border illegally Republicans now have the support of Democratic Senators Gallego of Arizona and Fetterman of Pennsylvania in passing the Laken Riley Act in Congress to protect Americans and safeguard life in America.   ...
The Indian Express Original article ›
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Sofiya Qureshi and Vyomika Singh along with Foreign Secretary Vikram Misri provide the first public briefing on the Operation Sindoor. They are women officers of the Indian Army and Air Force. The briefing was the first of its kind where details were provided by the Army, Air Force and the Foreign Ministry of India. It was a precisely done briefing showing the terrorist camps in Pakistan, Pakistan Occupied Kashmir and the ones targeted, and the link of each camp with a terrorist attack going back to 25 years. In this way it send the message that it is targeted at preventing this kind of terrorism at the source and as a preventive action to eliminate the chances of future terrorism, especially where it is targeting peaceful economic development and advancement of the whole of India.  Twenty three million tourists have visited Kashmir in 2024 and this has created a surge in the economy of Kashmir and increased the jobs and opportunities, the investment in Kashmir. The attacks at Phalgam are presented then as a direct attempt to turn back the tide of modernization of India. It is what the Japanese Kwantung Army did to suppress democratic forces in Japan and begin a war of imperialism in China. It was rooted before the Kwantung Army in the efforts to suppress the efforts of modernizers such as Sun Yat Sen by the Japanese. Gen. Joe Stilwell of the US led the struggle against the Imperial Japanese Army in China which is too easily forgotten in China as the first step towards the subsequent American effort in the 1990's to engage with China and help it modernize its economy. ...
WSJ Original article ›
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Amy Hood growing up in a small town in Kentucky, then a move to Nashvile, Duke and HBS. She joined Microsoft in 2002 on its investor relations team. She moved into management the same time as Nadella who is CEO. Before the pandemic Microsoft's capital expenditures and investments cost about $16 billion. It is now 4 times that at $64 billion. It is Amy Hood's job as Chief Finanacial Officer to see that all that money is well spent for products with demand. AI services bring in about $10 billion annually.  Yet this may just be deflecting by Wall Street of the real question about the funding needs that are being neglected in education, health care and child care, when huge amounts of capital are being diverted by capital markets in ways reminiscent of the warnings of Franklin Roosevelt at the Democratic Convention of 1932. Warnings that the whole capital markets system was not working right, was only defunding the vital needs of the American people. ...
WSJ Original article ›
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Mexico sends 80% of its exports to the US, and China a significant $439 billion in additional exports to US, which makes it incredible that for so long it did not take effective action to stop fentanyl flows, and Mexico allowed migrant trafficking across it's borders through 2016-2024. Even in the face of this becoming an explosive issue in the US with DJT elected in 2016 and the Border Wall being built. A silent but still existing in plain sight idea that the US would tolerate such flows became part of the culture in media outlets in the US and Europe and China and other parts of the world, even when there was a storm of discontent building about manufacturing shipped overseas hurting communities in the US since 2010, with added burden of safety endangered in these neighborhoods from fentanyl, drugs and illegal migrants. What worsened this situation and pain in the US was the idea that somehow it was the US's fault, an incomprehensible disdain for the US, US that enabled the modernization of China, Mexico, and Canada's economies. China sends $439 billion in exports more than the US does to China (US exports $143 billion China $582 billion in 2024). It is only surface presentation of indignation of face saving that these trading partners are showing when the real facts point to an extraordinary and incomprehensible disdain for the US as a nation in decline. There is a feeling in parts of Europe of American disdain for  Europe, without mention of the disdain for the US in Europe, China, Mexico and Canada and other parts of the world. Particularly disdain for neglected communities in the US that have suffered for far too long under previous administrations of Clinton-Bush-Obama with shipping of manufacturing and jobs overseas and inaction on drugs and illegal migrant flows. The EU Canada retaliatory approach has not worked. When DJT proposed doubling the tariffs imposed by US in the face of Canada EU retaliatory steps, the EU and Canada pulled back. Part of the reason is that in the case of Canada it is an economy one tenth the size of the US. The other is that there are real concerns on the US side that Canada EU are not playing fairly in trade. And Canada, Mexico, China, have not stopped the flow of fentanyl into the US.  ...
WSJ Original article ›
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Trudeau's agenda for Canada in 2020 includes addressing the widening social gaps in society. Plans include renewed focus on social policy, increasing child care spaces, and improving care for the elderly. Trudeau says the government can take on more debt to help the economy recover and create jobs. A second wave means more help is needed for the economy and people struggling on low incomes. The second wave is here in Canada as cases increased from 5000 a day to 8000 this week from the prior week.


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