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In total this is a 50% tax on Indian imports to the US with DJT executive order of  August 6, 2025, 25% baseline for trade and 25% for Indian buying of 2 million barrels a day of Russian oil. US and EU say this money s fueling the Ukraine war, along with higher purchases than this by China from Russia, which add to Russian oil revenues and higher oil production. The order takes effect in 21 days so that India has time to come up with an agreement with the US. The Swiss also are scrambling to get an agreement, hit with 30% tariff.

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Tomahawk missile transfer by the US to Ukraine would not change the war on the front lines in Ukraine as both sides are entrenched in their positions with not much progress. What it would do is provide capabilities for strikes on oil facilities that cause problems for the economy and standards of living. The idea is to get Russia to the table for serious talks knowing it will have to also make some concessions. US is thinking about how to do this to get to talks without turning this into an escalation. This is why the DJT meeting with Putin in Budapest is planned.

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VW and BMW show strong car sales in Germany, China and the U.S. for the first quarter of 2012, offsetting weaker sales in the rest of Europe.

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Many of the problems in Minnesota came from the tactics employed by a Border patrol agent Bovino who took over Minnesota immigration enforcement in the state. He was removed by the Border head Tom Homan who said some of the tactics used were not what ICE normally has used in the past. Homan has taken over complete control of the operations for immigration enforcement in Minnesota. Todd Lyons (Immigration and Customs Enforcement) RodneyScott (Border Patrol CBP) Joe Edlow Citizenship and Immigration Services made an appearance in US House of Representatives hearings held by the Homeland Security Committee. The immigration enforcement in California, and other states, and law enforcement in Washington DC and Nashville did not meet any of the confrontations that happened in Minnesota. Democrats and Republicans are negotiating ways to come up with law enforcement that does not disturb entire neighborhoods and can be conducted peacefully.

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German chancellor Merz says the old order is unraveling. He says -

"We have entered an era of great power politics," Merz said. "The new world of the great powers is founded upon power, strength and when necessary, force. It is not a cozy place."    

The German chancellor says Russia's invasion on Ukraine is the beginning of a "new era, but change runs much deeper."

"China, with strategic foresight, has worked its way into the ranks of the great powers," Merz says. He said Washington is reacting to these challenges from these other "great powers" by radically reshaping its foreign and security policy."

"Europe [and its] like-minded partners must stand closer together. European countries must do more to make their economies competitive and to invest massively in our ability to defend ourselves."

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Canada's Carney gives up on USMCA renegotiated deal with US as he makes deal with China Jan 2026. No date is set for USMCA renegotiation. Carney stepped up the criticism of the US and suggested middle powers find their way by makiing deals of their own. This has drawn criticism from DJT, Luttnick and Scott Bessent, the Commerce Secretary and Treasury Secretary. Canada's economy has some fragile points in its dependence on the US and this may not be the wise course of action for Canada at this time. Germany, Italy, are meeting on February 12 and Europe may follow a different course of action of working with the US, India is close to a trade deal, so that Carney's and other remarks about going to partner with China at a gathering as isolated as Davos is from the real world may be very counterproductive.

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German response to Greenland tariff is muted- "appropriate response at appropriate time" realizing that Denmark and Nordic countries not Poland, Austria, Hungary, Russia, China, and other countries are concerned about Greenland, and after action by Denmark's government that "is going nowhere" in the words of DJT.  Denmark has misrepresented the facts and US history in relation to Greenland's exploration by US Navy and Adm. Perry in 1890's is ignored, Denmarks colonial power history is left out which is how it acquired Greenland in 1813 in Treaty of Kiel with Sweden in exchange of territory during Napoleonic Wars. Much of this can easily be researched and it is baffling that the Danish socialist party government is bringing NATO into this as it has to do with security of the eastern seaboard of the US, a concern since the early days of the founding of the Republic of the US since 1820's.

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British MP raises issue of Arab Gulf countries providing 37% of China's oil imports, excluding Iraq 27%, vs 11% from Iran and 20% from Russia- 2024 US EIA. Tom Tugendhat says China has to balance its interests in the region after the closure of the Straits of Hormuz, between Iran, Gulf monarchies, and Russia. China also faces a more credible choice of accelerating the development of renewable energy in the same way that India and the European Union face. US will act as a supplier of last resort  adding Venezuelan and other supplies but temporarily as the entire Middle East region poses quandaries for China, the US, and India, European Union. The quandary stems from the irreconciliable differences between religious sects in the region, post 1950 ideological and religious militancy,  in which neither China, India, the US, Russia or the European Union wants to get drawn into after 5 decades of bitter experience in the Middle East.

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 FR24's Cyril Payen reports on the battle of Dien Bien Phu in northern Vietnam in 1954 marking end of French colonial rule in Indochina. Under Eisenhower administration and John Foster Dulles the Cold War with Soviets cast a shadow over the struggle for freedom from colonial rule of the Vietnamese people. After the French left in 1954 remaining American advisers cast a shadow over John F. Kennedy's new vision for the world that included freedom from colonial rule for Asia and Africa. Facing a struggle in Eastern Europe with Soviet tanks in Budapest in 1956, US was unwillingly dragged into France's colonial conflict after Kennedy's assassination. Kennedy's vision for the New Frontier was never realized following a series of mediocre presidents Nixon, Reagan, Bush, Obama and Trump that wasted resources in far away wars. America is only now recovering Kennedy's vision of the New Frontier of 1960. ...

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Under the Volcker Rule setup during the global financial crisis of 2008-2009, banks total investments in private equity, hedge funds and similar higher risk funds cannot exceed 3% of high quality capital. During the financial crisis investment banks were highly leveraged leading to the collapse of Bear Stearns and Lehman Brothers, and the precarious financial condition of other banks. Goldman has pared down about 60% of such investments. Remaining are $4.8 billion in private equity investments, $1.2 billion in real estate, and about $1.1 billion in both credit and hedge funds. Regulators have given the bank till July 2017 to comply. As banks recovered from the impact of the crisis, the tearing of the social fabric that happened with high unemployment in some groups especially older white men, has remained six years after the crisis- as evident in the U.S. election campaigns this year. As a result the mood has shifted for tighter regulation and both party platforms, Republican and Democratic, now call for reinstatement of the Glass Steagall Act, which separated commercial banking from investment banking as part of the lessons learned from the Great Depression. Volcker, was chairman of the U.S. Federal Reserve during the Carter administration, known for taking a tough line against inflation. He was the principal driver of the move to restrict banks from risky activity, and faced considerable opposition from banks during the 2009-2013 period when the rule was being formulated.  ...

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WSJ investigations of Facebook and Instagram showed how these social media companies business activity was damaging to young women's health in the US, Europe and other countries. Because of the reach of social media companies into the lives of millions of young people the damage was serious and extensive. This report in the WSJ describes the activities of management at Facebook and the resignation of one of the key executives from burnout herself. This WSJ report says that during the WSJ series on the investigations this and other key executives remained silent on the issues facing young women for mental health in the use of Facebook products.  One WSJ report in 2021 said that company documents showed Facebook knew that the company's products were toxic for teenage girls. Other issues emerged in the WSJ investigations such as the Outrage Algorithm which the WSJ says was made by tweaking some aspects of the company's algorithm as a way to counter dropping user engagement. This led to much angrier discourse on Facebook according to WSJ and other reports. The experiences at Facebook reflect the general experience of this period in 2000-2015 when business management shifted to an entirely different conception of business that ignored the importance of human values in the blind pursuit of rapid growth, profits to make acquisitions of smaller companies for further growth creating monopolistic firms. This extended to disruptions of democratic process with the Cambridge Analytica access to records of data of 87 million Facebook users as reported in WSJ, that were used to target social media users in the period leading to the 2018 election. With such activities the risks could be seen to the democratic process itself in addition to mental health by the emergence of social media in the short period of a dangerous decade 2010-2020, when there was little or no regulation of this medium.   ...

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German chancellor Merkel and France's president Hollande meet in Notre-Dame de Reims cathderal for a service that commemorates the 50th anniversary of a mass held at Reims cathedral. That Mass was held at Reims in May 1962 with the hope for a lasting reconciliation between Germany and France in a region affected by recurring wars, and was attended by Konrad Adenauer and Charles de Gaulle. The service in July 2012 brings together two leaders after tense discussions at eurozone summit meetings on the future of the eurozone and austerity measures. It is also a reminder of the deeper ties that bring the two countries together after a century of conflict, and the resilience in the face of difficulties shown by a previous generation of leaders in building these ties. It needs to be remembered that it was German chancellor Kohl, Angela Merkel's mentor, one of the postwar leaders who promoted European unity during the period of German reunificaton, who speeded up the agenda for the creating the eurozone and euro currency without the necessary underpinnings of deposit insurance and a eurozone financial regulator with powers to examine the books of European banks and exercize financial supervision. ...

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A look back through Lyrarc at how rainforest deforestation was taking place in 2007 and amazing UN pictures of maps of Borneo island for 2000, 2005, 2020 showing how deforestation was taking out most of Borneo's rainforest by 2020. This is a call to action from Lyrarc after the pledge of Brazil, Russia, China, India, US, Indonesia to stop deforestation at the COP26 Glasgow.  This report from Surabaya, Indonesia, by Tom Wright, in the July 3, 2007, Wall Street Journal WSJ shows how this was extensive deforestation of one of the few remaining rainforests on the planet earth was taking place and is a must read for everyone. The links show work by a British ecologist journalist who fought hard to prevent continued deforestation in Sarawak, Malaysia, where she grew up as a child when her father was a colonial period police officer in that region. She could see the disappearing canopy in the rainforest and her protests were carried out from the outside.  ...

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Venezuelan illegal immigrant lawsuit reaches US Supreme Court for birthright citizenship. What did the US Supreme Court rule? Alongside we provide the summary of the US Supreme Court landmark decision which is coming in two parts, this being just the first. Simply stated the US SC ruled that district courts can give the plaintiffs relief in their individual circumstances but do not have the authority to extend this to into a "universal injunction." Three states and a Venezuelan illegal immigrant allowed into the US under the asylum policy make the case. And each case may have individual merits but does it apply to a whole geopolitical event? Yet the sheer numbers, the scale running into millions of people, amounting to it being an invasion, a geopolitical event resulting from Bush-Obama-Trump-Biden failures to assert the Monroe Doctrine and prevent intervention by foreign, specifically European powers in the affairs of the American continent. Yet at no point in the administration of the last 9 years has this situation been anticipated or this situation been singled out as one that no asylum policy of any nation is designed to tackle. The efforts to fix things as far away as the mountains of the Hindu Kush have frittered away the important resources of the US military to maintain the Monroe Doctrine. It can be said that the basic error was not to see president Monroe's policy for what it was - an effort to prevent the French, the Spanish or some other European power to bring back colonial rule or in some ways unsettle the affairs on this continent. The US Supreme Court is aware of the surroundings of this event as it takes up the issues of immigration and efforts by foreign powers to unsettle the fabric of the Nation. ...

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Robert Lighthizer was one of the early voices on unfair and imbalanced trade with other nations subsidizing their industry at the expense of American jobs in manufacturing long before DJT took up the issue in 2015-2016. Lighthizer as US Trade Representative negotiated the new USMCA that replaced NAFTA agreement for North American trade with Mexico and Canada. 

Lighthizer was seeking a larger role than USTR, either Commerce or Treasury, yet he was reluctant to campaign for this or go to Mar-a-Lago to make his case. As a result says WSJ, he was passed over as Luttnick and Bessent tried to get DJT's attention. Another reason he was passed over is that DJT is  sees the continuing flow of fentanyl and the migrant flows from Mexico, the sourcing from China, as serious issues that require using trade as part of the solution by 2024 if Mexico, Canada and China do not cooperate and hurt US interests.

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This essay in the WSJ by Louise Aronson, geriatrician, professor of Medicine at UC San Francisco and author of "Elderhood, Redefining Aging, Transforming Medicine, Reimagining Life," and Teva Brender, UC resident in Internal Medicine, says age should not be a factor  in electing leaders, as over the last century life expectancy has grown by 25 to 35 years. People can be healthy into their eighties and modern medicine provides ways to tackle small physical, auditory or visual impairments. In addition these can be handled with strength training, better nutrition and social support, says Aronson. His point is that there has been an increase in "health span" the years we define as being healthy, a compression of morbidity, the disease at the end of life. As a result people can be productive for many years, early retirement is a bad idea economically and for the people themselves when they feel better working. When there is so much wisdom and experience that they can bring to the job, and when that  wisdom and experience is sorely needed by the nation, that guiding light has immense unreplaceable value. President Franklin Roosevelt was at such a time able to steer the nation in the 1930's through the Great Depression and the 1940's through the Second World War, even though he had disabilities. Aronson says the work of elected leaders is fundamentally cognitive and when the basic physical demands can be met it is possible for leaders to work successfully. ...

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Japan's regulatory structure for the nuclear power industry is weak because of the dual role played by the regulator- Japan's Ministry of Economy, Trade and Industry. It regulates the nuclear power industry, and also promotes Japanese nuclear technology in Japan and overseas. The tasks are separated in the U.S. The Nuclear Regulatory Commission supervises nuclear plants in the U.S. It is independent of the Department of Energy which does research and promotes nuclear power. An earlier effort to correct this dual role arrangement in Japan failed, when an independent Nuclear Safety Commission was created under the cabinet. This body was never given the authority to inspect companies and mandate changes. A body that supports the commission has 4000 scientists and staff. It does research in nuclear technologies, but it has ended up becoming nothing more than a think tank, in the words of a former commission deputy chairman. What makes this situation worse, is the practice of amakudari, or "descent from heaven," a practice in Japan where senior Ministry officials retire young and take up positions in the private sector at companies like Tokyo Electric Power Company. In recent years most of the retired officials have taken positions in the energy sector. In fact Japan's Bar association investigated problems after a 2007 earthquake that shutdown a TEPCO nuclear plant. It recommended an independent regulator. The Democratic Party of Japan supported this idea before taking power in 2009. ...

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After 2 years of the pandemic's devastating effects on health, governments around the world decided to protect ordinary people from the effects of higher prices for staples and food with the increase in inflation. This WSJ report takes a detailed look at different countries and how they after coping with the effects on total debt and debt servicing needs of moves such as subsidies and tax cuts. The situation is exacerbated by the Ukraine war which affects wheat exports from Ukraine and Russia, and the high oil prices as a result of the war. The effects shown by country are- China- consumers are protected from high oil prices by regulated retail gasoline prices. As oil prices keep going up state owned refineries will bear a disproportionate share of the burden of high prices. India- The government has set aside $40 billion in aid as subsidies for oil and fertilizer. This will support farmers and consumers for fiscal year to March 2023. It will make it harder to cut the budget deficit from 6.9% of GDP to 6.4%. Pakistan - A subsidy of $1.5 billion was given for diesel, gasoline and electricity by the Imran Khan government. This did not have IMF approval and talks are taking place on the IMF program between the government and IMF for it to continue. Rampant inflation has led to reduced popularity of the Imran Khan government. Argentina- A new program to refinance $44 billion in debt with IMF assistance is being affected by the subsidies for oil and electricity. About 800,000 tons of grain are being diverted to the domestic market from exports. Agricultural producers such as Argentina have better protection from higher food prices. In Argentina 40% of the people are living below poverty and the country has 50% inflation.  Malaysia and Indonesia- Both countries are exporters of commodities and higher prices could provide additional revenues to meet higher import prices, says the WSJ. Egypt- higher prices for wheat imported from Ukraine and Russia where Egypt gets 70% of its wheat needs have increased cost of subsidies by $1 billion. Kenya- Fuel subsidy costs will increase by $500 million over 2 years. Europe- In France 400 million euros relief package and in Spain 500 million euros relief package for energy price increases. In Germany cash payments to taxpayers, heavily discounted transportation tickets, and price caps on gasoline and diesel.   ...

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Airbus is making the Airbus 380 superjumbo model plane about 25% slower than originally planned say Airbus executives. This is partly because manufacturing is sequenced between France and Germany. The way the production system for the A380 is organized today is to split work between the French and German operations. The plane structure is built in Toulouse, France, and the cabin and interiors are fitted together in Hamburg, Germany. Tom Williams, Airbus executive vice president for programs, says this slows the completion and increases the cost. On the A330 models the work on the interior is done along the way as the structural work is being done, and this reduces cost and speeds up completion. Part of the problem is the sensitivity of the issue of moving work for unions and governments, but he now plans to push the A380 cabin outfitting back up to the earlier stage when the airplane is being built. A slower production rate means workers and engineers are learning more slowly how to build these planes efficiently by structuring tasks in a certain way and using different production methods. Boeing has also experienced similiar production delays and is working on moving up the learning curve the way EADS Airbus is doing. The A380 program has suffered delays over the years. In 2009 wiring the cabins was a problem. In 2010 a Rolls Royce engine on a A380 flight by Quantas Airways blew up on a flight after takeoff from Singapore. Because of manufacturing issues there were delays in delivery of Rolls Royce engines in 2011. Bot problems were resolved. In 2012 Airbus has found cracks in metal parts inside A380 wings which has slowed output. Airbus has delivered 77 A380 planes since 2007. The production rate is 3 A380 planes a month, compared to plans to make 4 a month by 2012. About 30 A380's are expected to be delivered in 2012, compared to 26 in 2011, 18 in 2010....

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In the second quarter 2011 Goldman's revenue from trading, bonds, commodities and currencies declined 53% to $1.6 billon from $3.37 billion in the prior year. Goldman's value-at-risk, or VaR, declined to $101 million from $136 million the prior year. This indicator measures the dollar amount Goldman has at risk on any day at its trading desks. Goldman plans 1000 job cuts. Goldman set aside $3.2 billion in the quarter for compensation and benefits, a decline from $3.8 billion the prior year. Goldman's CFO says it was harder to navigate the volatility in markets in 2011 because of the political issues that were very difficult to analyze or predict.

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Jurgen Klopp takes Liverpool to a 4-0 win over Barcelona in the Champions League semi-final of 2019. With 2 key players out from injuries, for Liverpool it was all about the mind and its approach to the game with a mentality to go out there and do whatever was needed. It strained credulity. In 7 minutes it was 1-0. In less than an hour it was 3-0. Without Firmino and Salah, two of their best players, it was disbelief at Anfield. Messi and Suarez tried for Barcelona, but it made no difference.

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What harm will one ton of carbon dioxide pollution cause to the planet? Under Obama administration $50, under Trump administration $5, under Biden administration $200.  Mr. Revesz asks the obvious question others forgot to ask- how does this regulation or change affect future generations, what problems children and grand children won't face because of this action? The man who heads OIRA is given the task of doing the cost benefit analysis for billions of dollars of US government projects designed to fight climate change. Because of its looming importance Mr. Revesz of NY University School of Law was brought right into OIRA in the White House instead of the EPA. The Office of Information and Regulatory Affairs (OIRA) is located right in the White House. It is the gatekeeper and final word on new federal regulations on climate change. Astounding as it may sound, during the Obama and Trump administrations no effort was made to track the cost of climate change for future generations. Mr. Revesz is changing that. As a result of his efforts at NYU School of Law and in assisting attorneys general in the Trump administration, and now at the Whit House he is changing the way the world looks at climate change action. He shows how the EPA new rules on tailpipe emissions will promote electric cars. The benefits exceed $1 trillion from the shift and this will show that it exceeds the cost of the fossil fuel companies and the US economy making the changes required. ...

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The European Union plans to rebuild its solar panel industry by manufacturing in the home country. This means shifting away from supply channels where China controls 80% of production. Chancellor Merkel failed to see the risks of letting German companies be decimated by China's subsidy program supporting solar panel makers in China. A system of customs duties failed when China threatened to retaliate with duties on German car exports. In the end Germany like the US under president Obama and Trump after 2010 failed to support domestic solar panel makers.  Now subsidies are accepted way of competing with China for both the US and the EU. The US under the Biden administration is fully committed to compete with China by developing its own solar panel manufacturing industry with the kind of help China is giving to its own solar panel makers. The EU is following the same path. From 200 gigawatts in 2023 the EU's target is 600 gigawatts from solar by 2030. The 400 gigawatts will come from through a policy of make at home in the EU, including raw materials, polysilicon, wafers, and assembly. Subsidies are now the way the US and the EU plan to get back what they lost to China, their critical manufacturing advantage through errors in policy. The European Commission is also changing the rules to accomodate the move. A story of one more critical advantage surrendered through the orthodoxy of free markets without policymakers understanding what they were doing. ...

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This report in The Times take a look at the work Liz Truss has done as International Trade Secretary and now Foreign Secretary. Truss does not want Britain to become economically dependent on China. More than Johnson Truss is a UK Atlanticist who wants the UK to work with the US and the EU to build a western world that is entirely independent of China. Looking at her work and experience it would appear that Truss is the most underestimated of the candidates for prime minister, much more so than Sunak. She can be strident and aggressive but she has gone through a process of thinking and studying before that with a willingness to try new ideas. She come from an intellectual  family and one that was active in left wing activism. She studied at a comprehensive school in Leeds before going to Merton College Oxford  to study philosophy, economics and politics, and was willing to change her thinking when persuaded about a different course of action to get better results. She also gained the knowledge she needs to do her own thinking with experience first hand as Chief Secretary at Treasury, Secretary of International Trade, and as Foreign Secretary, getting trade deals with Australia and negotiating with other countries. Cameron, May, Johnson lacked this kind of knowledge and experience. And Sunak also falls way short of this kind of knowledge acquired and experience handling international assignments key to Britain's advancement after Brexit. ...