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The national picture for Labor would include Scotland which is where Labor has roots. John Smith of Argyll and Butte in Scotland was elected Labor leader in 1992 and Leader of the Opposition in the British parliament. His untimely death in 1994 from an heart attack deprived Britain of a Labor prime minister from Scotland. Smith was able to get enthusiastic support of Scottish voters. It is this Smith period that Labor aspires to as it seeks to widen its lead of nine points over the Conservative party to be confident of getting an overall majority in parliament.

In 1997 a young Tony Blair of Labor who succeeded Smith won the general election. Blair setup the Scottish parliament not convened since 1707, starting a new chapter in Scottish history. In 2007 the Scottish National Party with Alex Salmond and Nicola Sturgeon formed a new government which is losing the confidence of Scottish voters with the cost of living crisis.

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Even with Brexit out of the way the Labour party has to worry that over 60% of people over the age of 65 years voted Conservative. The high percentage of older voters voting Conservative in ever larger numbers cannot make up for the young vote that Labour attracts with stands on climate change and other issues such as wages.

Older voters even in towns in the north of England, including pensioners are much better off and not that much different than traditional Conservative voters in their cultural attitudes. This will remain an obstacle for the Labour party in Britain after losses in three elections. After the NHS funding and infrastructure spending issues were neutralized by the Conservatives under Johnson, issues around cultural attitudes and patriotic sentiment play a big part particularly for older voters.

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Controversy about whether bringing back a revamped Ford Explorer is a good idea. Ford's Farley thinks Americans might still consider an Explorer with high fuel economy, getting it up to 28 mpg from 15 mpg. But the evidence is that Americans have soured on SUV's. Consider that during the cash-for-clunkers program more Explorers were scrapped, and by a large margin, than any other model. Sales are down from 450,000 at one time to 52,000 today. To get buyers to look at the Explorer Ford is trying to change the looks from boxy to sleeker car-based crossover , and add high tech features. In fact it is going to be built not as an SUV, but on the same architectural base as the Taurus.

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Global Foundries based in New York and STMicroelectronics based in Switzerland are teaming up to invest $5.7 billion for a semiconductor factory in Crolles, in southeastern France. The French government will provide additional funding and support for a new home based technology supply chain. The plant will create 1000 jobs.

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The U.S. economy added an average of 284,000 jobs each month for October, November and December 2015. In December 292,000 new jobs were added. The monthly rate for the first 9 months was an average of 200,000 jobs. This shows the pace accelerated by Dec. 2015. In all 2.65 million jobs were added in 2015. The unemployment rate is now at 5%. Yet the wage gains are modest, at 2.5% for 2015. The average hourly wage is at $25.24. The labor force participation rate has declined for many years and stands at 62.6%, as many people are too discouraged to look for work- this is the share of Americans having jobs or looking for work. Experts say this is like a huge shadow work force existing on the side that could explain the lack of wage gains, as the official figure of unemployment is not reflecting the discouraged workers who have dropped out of the labor market.

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U.S. auto companies are steadily reducing the incentives that reduced profit margins for many years. Cash back offers of various kinds to subsidized leasing programs are being pared back steadily in a determined effort to raise profit margins by Ford Motor, GM and Chrysler. The average incentive was $2,124 per vehicle in October, which was 1.4% below the level the prior year, according to Edumnds.com. The increase in demand helps automakers. The annualized rate for sales in 2012 was 14.4 million. The figures for incentives by automaker released by Edmunds.com show GM with the highest figure of $3037 per vehicle in incentives for October 2012, followed by Ford Motor at $2788, and Chrysler at $2683. The gap between U.S. car makers and the Japanese has narrowed, with Toyota at $1621 and Honda at $1420 per vehicle in incentives for Oct. 2012.

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Danny Hakim's gives this indepth account on the U.S. Chamber of Commerce's connections to the tobacco industry, with reporting from Ukraine, Nepal, the Philippines and other poorer nations struggling with the public health implications of widespread smoking. Since 1997 the Chamber of Commerce, which is viewed in foreign countries as an outpost of the U.S. government, has taken some controversial positions. In the U.S. the chamber has as it members the tech industry leaders such as Google and Microsoft. Yet it is increasingly at odds with these companies. In 2009 the chamber under Mr. Donahue opposed greenhouse gas emissions regulation by the EPA, leading to the departure of Apple from the group and Nike stepping down from the board. In 2013 the American subsidiary of Sweden's construction company Skanska left the group, in protest against the chamber's opposition to green building codes. Michael Bloomberg and Bill Gates have set up an international fund to fight law suits challenging international anti-smoking laws by tobacco companies. The TPP's provision for companies being able to sue foreign governments for violation of trade agreements has no exception for tobacco companies. Similiar concerns are raised about pharmaceutical companies suiing foreign governments where the governments are working to increase access to medicine for poorer sections of the population....

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Keller says that Fox News has contributed to the corrosiveness that has affected public dialogue in the U.S. He admits that the prestigious urban newspapers like the Washington Post and the New York Times can be condescending and too open to consider points of view that do not have merit. Yet, he says, they are different from Fox News in that they are self-critical and take up different points of view outside their own, an openness that Fox News lacks. A little research shows another side of the Times- during its early years the Times with a scoop of its own helped put the boss of Tammany Hall, which dominated New York politics in the late twentieth century, in jail. The journalists of the Times, even though they have their own screwups, always must carry the added responsibility of living up to a long heritage.

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Testifying at Southwark Crown Court in London, UBS trader Adoboli said: "I absolutely lost control. I was no longer in control of the decisions around the trades we were doing... My ability to think rationally and deeply was gone." The trades led to losses of $2.3 billion for UBS.

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After a promising start the Pakistan batting order collapses with 8 wickets lost for 36 runs over 78 balls. Player of the match is bowler Jasprit Bumrah with Rohit Sharma a close second for a fast paced 86 runs. It gives India a 7 wicket win with many overs to spare.

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The language in the Eikenberry cables is stronger than previously thought. Eikenberry is Ambassador to Afghanistan and was top American military commader there before McChrystal. His assessment of Karzai the Afghan leader is bleak, about expansion it only makes Karzai more dependent on the USA and makes extrication difficult from Afghanistan, he flatly disagrees with McChrystal's plans to add troops and widen the effort, and his views on the Afghan army's capabilities are bleak also.

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Hunger affects one in seven people, and is mostly affecting people in Africa and South Asia.

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Biden's ultimate faith in the fairness of the American cause and the American people gets him two big wins with the $280 billion semiconductor bill, and the $369 billion climate change action bill. Biden says about this when many had given up hope- "The work of government can be slow and frustrating, and sometimes even infuriating. Then the hard work of hours, days and months from people who refuse to give up pays off. History is made. Lives are changed." With Europe at war and struggling to get through the winter with gas rationing it was up to America to lead the way as the world faces ever increasing floods, fires and heat waves that affect food supply and environment. And Schumer? The New York Democrat asked about the effort quoted his father who passed away last year. "As my late father said: you need to persist. God will reward you." For months Mr. Manchin a critical vote in the US Senate had opposed the Democrats proposed bills. Then Senators Mark Warner of Virginia, Chris Coons of Delaware, John Hickenlooper of Colorado took a different approach. They did not openly criticize Mr. Manchin, and appealed to his sense of history, his zeal for playing a leading role in a high stakes legislative deal. Schumer and Biden were willing to make some concessions for fossil energy now that with the war in Ukraine the US needed to export LNG to Europe to replace Russian supplies. China and India were still going to be using fossil fuels after COP26 and after the pandemic induced lower growth. The US had to find a different approach some fossil fuel concessions would make it possible to use it as abridge towards the larger goal of getting ahead on renewable energy in a big way. This opened the way for a deal that centrists could support.  ...

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The Indian economy showed strong growth in the second quarter of 2021 and economic growth for the whole year 2021 is expected to exceed 10%.

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To better reflect a diverse electorate in the presidential nominating process in the state primary elections president Biden is proposing including states with more union voters and diversity. South Carolina comes first with more union and diverse voters, then Iowa and New Hampshire with more rural voters, then Michigan with more union voters, followed by Georgia.

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Republicans have a narrow majority in the House of Representatives 222 to 212 for Democrats. This means Republicans can only lose 4 members of their party in a vote when all members vote. Kevin McCarthy was not elected Speaker of the House after 4 days of voting as 20 Republicans oppose his nomination.

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How will deflation in the USA affect jobs in China? Not just Roubini talks about a deep recession. Kenneth Rogoff, an economist who has argued with Stiglitz's view of things during other banking and financial crises in Asia in the nineties and has been an optimist about things compared to Roubini's serious concerns, is now talking about a lost decade. Early on a lot was said of and made of the housing crisis in Sweden, where with strong government intervention and decisive action to capitalize and take stakes in banks, things were back to normal in a few years. One thing that Sweden did not face was a global slowdown and global systemic effects of credit crises worldwide so it now looks like a different situation. Here you have a series of things happening at the same time, housing price collapse, foreclosures, higher unemployment, no savings and high debt for consumers and banks foreshadowing possible collapse in consumer spending, and declines in capital spending, tight or no credit for small and larger business, global slowdown including China and India slowing exports significantly for the developed countries of USA, Europe and Japan. Interest rates near zero in the USA and Japan and trillion dollars already committed in the USA for bailouts and assistance, even before the ful force of the economic downturn has hit and this is the beginning of the downturn. ...