LyrArc Article Gist
The opening to Cuba in Dec. 2014 comes as a new generation of Cuban Americans have no memories of the embargo and Fidel Castro period. The increasing population of Puerto Ricans in the Orlando area also reduces the size of the Cuban American community as a proportion of the total Hispanic community in Florida.

LyrArc Article Gist
DW. com looks at the controversial effort of privage equity firms Blackstone and Carlyle to buy stakes in Bundesliga soccer clubs. Approval of 24 of 36 clubs sets out a plan to attract 1 billion euros of funding for digitalization, internationalization, in return for an 8% share of TV rights revenues for a period of 20 years. Experts say any effort to take international preference for the Premier League will be difficult. There is also the 50+1 rule in Germany where the ownership stays with the clubs not investors, so that the ticket prices are affordable for the club fans and the clubs belong to the fan base. For the fans and locals the situation is better without private equity.

LyrArc Article Gist
Both candidates Mr. Trump and Mr Biden put forward their positions on immigration, the coronavirus response, the economy, and racial justice, in the final debate of 2020. This was a calmer debate with policy details and the candidates delivered their points without the sharp attacks of the earlier debates. At some points in the debate the discussion turned to Mr. Biden and dealings of son Hunter Biden with a Ukrainian company. Mr. Biden raised the issue of Mr. Trump's tax returns not being disclosed. The Affordable Care Act and coverage for Americans lacking health care, immigration and the wall with Mexico, and the oil industry were other issues in the debate.

LyrArc Article Gist
British prime minister Theresa May makes a bid for working class votes in the 2017 election, just as the Labor party under Jeremy Corbyn announces its own manifesto seeking working class votes. May has proposed increasing the minimum wage to 60% of median earnings by 2020, and increased funding for the National Health Service by 8 billion pounds over 5 years. Corporate taxes will be reduced from 19 to 17% compared to Labor Party raising it to 26% under Corbyn's manifesto. Some of the Labor Party's supporters in the north of Britain are leaving the party because of dissatisfaction with Labor's leadership.

LyrArc Article Gist
This graphic shows the increase of interest rates by central banks around the world to cope with inflation and risks to the economy. Sri Lanka, Ukraine, Russia, Egypt, Argentina have large increase in rates. The US increased rates by 0.75% this week.

LyrArc Article Gist
This report in the Washington Post points out that more than half, about 12,000 homes, needing lead free pipes in Flint, Michigan, are still waiting. This 4 years after lead contamination in Flint water was shown to be over 800 times more than the approved levels. In parts per billion 13,000 compared to 15 ppb upper allowable level. 

About 12,000 children in Flint from the poorest families were exposed to lead contaminated water when this was discovered in 2014. 

LyrArc Article Gist
Comment by Samsung executives that show Samsung was late in the game in adopting Android for smartphones. A decision was made to leapfrog ahead of competitors in 2011 by building on Samsung's strengths in executing.

LyrArc Article Gist
The U.S. Agriculture Department cuts its estimate of corn crop yield per acre in the U.S. by 15.5%, as a result of the severe drought in 2012. Agriculture Secretary Vilsack, says the situation for farmers is better this time than during the last drought in 1988. Now 85% of farmers have crop insurance compared to 25% in 1988. The Agriculture Department estimate is for a 3-4% increase in prices in 2013. Capital Economics says the impact on GDP in the U.S. will be about 0.1%. Because 40% of the corn crop goes into ethanol production there is renewed debate about the 2005/2007 Renewable Fuel Standard, which requires 13.2 billion gallons of corn based biofuel be made in 2012. Worldwide the bad weather conditions in Brazil, India and Russia are worsening the outlook for food supplies. The U.N. Food and Agriculture Organization says global food prices increased by 6% in July 2012, with corn prices up 23%.

LyrArc Article Gist
Photographs and descriptions of a picturesque cycling tour through some of the best scenery in New York state all the way to Canada. From New York City head straight north by bicycle through Poughkeepsie and Albany to Rouse's Point and the Canadian border for a cycling route of 400 miles. The NYT shows Jane Margolies doing this bicycle route in small sections and having her husband drive her back, till she had reached the Canadian border. It is actually 2 sections- a Hudson Valley trail and a Champlain Valley trail that takes one to the Canadian border. A separate trail takes one from Albany to Buffalo. The entire stretch is 750 miles which was completed at a cost of $200 million. It showcases New York's history and natural beauty,

LyrArc Article Gist
Some figures on the foreclosure situation. 2.3 million Americans faced foreclosure proceedings in 2008, 81% increase over 2007. 860,000 properties were repossessed by lenders, more than double the 2007 level, according to RealtyTRac a foreclosure listing firm in Irvine,, California. Moody's Economy.com predicts the numbers to go up 18% in 2009 before slowing through 2011. That is 2.71 million foreclosures in 2009. To prevent the foreclosure levels from getting much worse as unemployment drops, the new administration plans to use upto $100 billion of the remaining $350 billion TARP funds to help homeowners. The 4 states hardest hit are Nevada, Arizona, California and Florida. More than 1.1 million properties there received foreclosure notices, almost half the total nationwide. The hardest hit areas are in California, with the metro areas worst hit in order are Stockton, California, Las Vegas, Nevada, Riverside and Bakersfield, California, and Phoenix. In December more than 303,000 properties nationwide received foreclosure notices, up 40% from year ago month, and 17% above November 2008. At 303,000 the yearly rate is 3.6 million foreclosures or higher for 2009, so the Moody's estimate for 2009 must take into account acceleration of steps to help homeowners with the new administration. Are the rather modest steps taken upto now helping? RealtyTrac analysts estimate that without a state law requiring lenders to give borrowers a 30 day warning before starting the foreclosure process, the foreclosures in California would be 10% higher. There are similiar state laws in Massachusetts and Maryland. Throughout 2008 few steps were taken by the Bush administration to slow foreclosures, even though Republican economists like Martin Feldstein repeatedly advocated this. See links to Feldstein and Sheila Bair of the FDIC who also advocated aggressive action, and providing the numbers to show that it was costlier for lenders to see borrowers go into foreclosure compared to reducing principal and interest payments significantly. ...

LyrArc Article Gist
IMF research by Ocampo and Erten shows that when adjusted for inflation since the 1970's, the prices of metals have remained about the same, food prices down 58%, and energy prices up 163%.

LyrArc Article Gist
A Japanese scientist at Princeton University has done work since the 1960's to show that increased level of carbon dioxide lead to increased temperatures on the surface of the earth. Syukuro Manabe at Princeton was honored for this work with the Nobel Prize in Physics. Also honored is a German scientist Hasselmann who showed the connection between weather and climate with his own model. His research shows methods for attributing various impacts on climate of human activity and natural phenomena. Also honored is Italian scientist Parisi for his work on complex systems uncovering patterns in disordered complex materials.

Today's understanding of how the use of coal and other fossil fuels at the scale done in China, Europe, US and India is affecting the climate comes from the work of these three scientists.

LyrArc Article Gist
Independents make up the largest voting bloc in Arizona. Mr. Biden swung 60 precincts to win by 10,000 votes in 2020, and did well with independent voters. NYT looks at the situation in Arizona for 2024. Much depends on Maricopa county which includes Phoenix. About 60% of Arizona votes are in Maricopa county. Other states which are closely contested are Pennsylvania, Wisconsin, Georgia.

LyrArc Article Gist
Three central bankers at the Bank for International Settlements (BIS) advise caution in the exercize of easy money policies. BIS head, Jaime Caruana, former ECB head, Jean-Claude Trichet, and Bank of Japan governor, Masaaki Shirakawa, say prudent steps are needed to ensure that easy money policies give time that is wisely used by financial institutions to improve their balance sheets, and not wasted. This includes improving reserve capital levels, avoiding undue risktaking. Jaime Caruana warned that easy money policies posed the risk that firms could avoid recognizing losses and lead to a new wave of risk taking, resulting in wasting the time that was provided by the central banks to address pressing problems on the balance sheet. The BIS in Basel, Switzerland, was a prominent voice in warning of the dangers of excessive risktaking in the global financial system before the 2008 financial crisis.

LyrArc Article Gist
The European Commission is making efforts to reduce the influence of the ratings of credit ratings agencies. ECB president Mario Draghi says- "We should'nt make too much of these ratings changes by the ratings agencies." With the poor performance of the ratings agencies in putting warning flags on the credit boom in Greece- leaving it to the IMF's Dutch official Bob Traa to sound the warning in mid-2009- there is considerable concern about the reliability of ratings in correctly evaluating risk.

LyrArc Article Gist
Stefanos Tsitsipas plays Novak Djokovic in the Australian Open final.

LyrArc Article Gist
In an effort to not cede the market in tablets and smartphones completely to Apple and Google, and e-books to Amazon, Microsoft is now in an alliance with Barnes & Noble's Nook digital business, and Nokia in smartphones. The deal with Barnes & Noble's Nook, includes an agreement to bring out a Nook application that will bring access to digital books, magazines and newspapers to Windows devices. Microsoft will get a share of revenues from sales of this content. For Barnes & Noble this is an alliance with a well funded company, at a time when the digital business is losing money because of the huge investments needed to compete. Markets recognized this by pricing Barnes & Noble shares over 50% higher after the announcement, up to $20.75.

LyrArc Article Gist
President Trump's failure to followup on his decision to shut down all flights to China on January 29 with speedy action on preparing for the coronavirus as suggested by some of his advisors is the subject of this article in the NYT.  There were two distractions one was the trade deal with China that was being negotiated, and then the impeachment trial in the U.S. Congress that was set in motion by Democrats. Another problem was the lack of good information about the extent of the virus spread in China and infected case numbers. As it turns out no one really knows the real scale of infections in China. If is was known that there were as many cases in China as there are in the U.S. today this would have resulted in shaking up any complacency in the Trump administration and in the states. Considering the experience of Europe and the U.S. it could be that China had the same number of infected cases as the U.S. does today for a population three times the size. China had a strict quarantine but it also did not realize what it was up against in the first weeks of the crisis in January. It appears now that China, Europe and the U.S. all lost some time from 2-4 weeks before realizing the severe consequences facing each region. This report says one of the vital pieces of information that was learned about infected people in China, was learned as late as the end of February by leaders of a government team looking at the coronavirus threat. It was that seemingly normal healthy people without symptoms but infected by the virus could spread the virus. This meant that this was very, very contagious. The lack of good information played a significant part, adding to the level of complacency in states such as New York and in the Trump administration. Politics such as the impeachment trial and political infighting added an unnecessary distraction. ...

LyrArc Article Gist
According to ComScore the Yahoo internet site had 618 million unique desktop visitors globally in October 2015, compared to Facebook's 863 million. But for Yahoo this traffic is not yielding much in terms of revenue and profit. Yahoo's lack of quality content to command premium pricing means a continual decline in ad revenues. Analysts point to the lower quality of traffic on the Yahoo site, fewer direct searches on its site relative to clicks on ads, and aspects of its collaboration with Bing and Google, as serious problems. Compared to Google News, Yahoo News is chaotic and likely to draw less quality traffic, with the addition of Kate Couric and other commentary not having much impact on the gradual deterioration of the site. Facebook is dominant in mobile with $3.4 billion in revenue in the third quarter of 2015, compared to $271 million for Yahoo. As a result Yahoo's internet site based on its current share price in Dec. 2015 shows a small or insignificant valuation considering the level of traffic. ...