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Lyrarc Retrospect shows here RFK Robert Kennedy visiting homes sometimes mere shacks in the mountains where disease was rampant, education negligible, and income $60 for large families, shown here in this Washington Post report by  Paul Schwartzman, Feb 21, 2018  After J.D. Vance selection for VP and his book on growing up in Ohio's Appalachian mountain region which covers states of New York, Pennsyslvania, Ohio, Kentucky, Tennessee, stretching from southern New York to northern Mississippi down the entire eastern part of the US, the question arises did the poverty in this region exist before? The answer is yes and two presidents JFK and LBJ, both Democrats setup the Appalachian Regional Commission to tackle rural poverty in the mountainous regions in 1960's. Its success- increased income by 4% faster than other neighboring counties in retrospect does not look like much. Rural poverty increased since 2000 as the national attention was taken up by the Bush wars and by a general neglect of rural areas under Bush and Obama. Iowa governor, now Agriculture Secretary Tom Vilsack is given the task of addressing rural poverty and a top position in the Biden Administration. Fast internet, housing, income assistance, highway development, child education support, on multiple fronts Biden is fighting the poverty that RFK once saw with his won eyes in 1968 in eastern Kentucky and which stretches across 7 states.  ...

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J.P. Morgan Chase announces $2 billion in trading losses in May 2012. The Chief Investment Office unit made a bet with a trading strategy that CEO Jamie Dimon said had grown very complex. These losses could grow or shrink during the rest of the year.

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The corruption conviction in Bangalore of the Chief Minister of Tamilnadu state in southern India. Under a Supreme Court ruling she is barred from public office for 10 years and cannot serve as chief minister even if the case is on appeal. She is in jail in Bangalore serving her sentence.

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Gikas Hardouvelis was finance minister during a crucial period of impementation of the 2012 bailout program for Greece from June 2013 to Jan. 2015. Here he outlines the mistakes he sees made by the IMF in not agreeing to the 7.2 billion payment to Greece in 2014, 4% of Greece GDP, with one third of that not a loan. At the fifth review of the 2012 bailout the EU commissioner for economic affiars, Pierre Muscovici , said Greece had completed its requirements and the 7.2 billion euro funding should be released. Yet he says the IMF to preserve leverage over a future Syriza administration in the 2015 elections decided to hold back. This made it harder for the Samaras administration to tell voters that it had completed the program a year earlier, and the lack of the funds hurt the Samaras administration as it erased signs of growth that had appeared in early 2014. Following this error he points to 4 mistakes made by the Syriza Tsipras government. The first was that it was bitterly opposed to the lenders (IMF, EU and ECB) and failed to focus on the economy. Hardouvelis points out that the maturity of the debt of 16.5 years and low interest rates meant that it was not the immediate issue facing Greece, and he calls it very manageable. This was not to say that it was important but with creditors worried about moral hazard, other issues could be taken up first. Another mistake was to allow a loss of liquidity to the private sector so that prospects of growth were erased. The new finance minister acted as if the $7.2 billion infusion was not important and let payments be delayed. Tsipras and Varoufakis let the uncertainty increase in the private sector, and let the economy decline all the way to the closing of the banks. How costly was this is evident from the IMF's own paper in Juy 2015 and the 3 page update of July 14, 2015, on the Greek debt, showing it cost Greece a total of 60 billion euros in additional financing needed and an additional 25 billion euros for the shock from the closing of the banking system. That 3 page IMF paper shows that within the space of one year a shocking amount of damage was done by Syriza left government- it says Greece went from being on track for reaching Debt to GDP of 105% by 2022 under the Samaras-Hardouvelis administration in July 2014, to 142% by June 2015, and with the closing of the banking system to 170% by July 2015. Some of this would have come from the IMF's own withholding of the 7.2 billion euro payment to the Samaras government. ...

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Casey Phair was born in South Korea and came to New Jersey when she was one month old. She plays for South Korea and at 16 she is the youngest player in the World Cup Women 's Soccer in 2023. She plays for a Development Academy that trains young aspiring players in South Korea. More of these academies are cropping up all over the world. Then there is Giulia Dragoni of Italy also 16 years, three Philippines players are teenagers. Linda Calcedo of Columbia is at 18 years the youngest goal scorer. Alyssa Thompson in the US team at 18 years is hoping to replace older players such as Alex Morgan. More talent is coming into the women's soccer game all over the world and the US lead is shrinking. Much of this talent starting at younger ages and players getting better facilities. Countries in Asia, Latin America and Africa are drawing on young players of ethnic links to their home country practicing in the US. This was clear when the Philippines beat New Zealand, Nigeria beat Australia, and the US hung on to a draw with Netherlands. France held to a draw against Jamaica. ...

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Zelensky is going to Hiroshima to make his own case for support directly to all G7 leaders. The fact that G7 leaders are meeting in Japan also has significance as Japan unlike Europe with NATO faces Russian presence in its northern islands and China in the South China Sea and around Taiwan, North Korea, with only the American defense agreement in any conflict. Japan, Australia and India would want to see a clear end to the conflict in Eastern Europe that also sends a message that the status quo will be preserved on Taiwan and other issues in Asia. 

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Appeals Court says US president DJT National Guard deployment in Washington DC is legal. The court said that "the district of Columbia is a federal district created by Congress," that the president as head of the DC National Guard has the right to it's deployment in DC. It was done by DJT to reduce the crime and lawlessness behavior in the Nation's capital. DC is a much safer place today. 

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Artificial coatings such as shellac and beeswax to make lemons and oranges shiny are seen as totally unneeded by buyers. When one goes to a neighborhood vegetable market for fresh fruits and vegetables one does not see this kind of behaviour, everything is how nature intended it to be. Then why do supermarkets and grocery stores behave in this way? Bad habits were acquired over the last two decades, including overuse of plastic.

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George Washington and the experience he gained in the Seven Years War (1756-63) thwarting French designs on the Ohio Valley. This experience shaped his military strategies during the War for Independence. He survived a grueling struggle with the French and the American Indians in Monangahela, what is now Pittsburgh.

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Compared to the situation in 2008-2009 during the global financial crisis with the excess supply of labor, China in 2012 faces an excess in demand for labor. In 2009 about 20% of migrant workers were unemployed when the crisis hit, and wages dropped 10% for migrant workers, according to the Chinese Academy of Sciences and Stanford University. The situation three years later is one of tight labor markets and higer wages. A large stimulus in not only not needed today in the way it was in 2008-2009 as a way to maintain social stability, it would reduce the benefits of the anti-inflationary steps taken in 2011-2012, by putting more pressure on wages and prices. Manufacturing sector wages increased by 20.1% in 2011, according to China's statistics bureau. This may be why the Chinese government is taking measured steps to avoid creating more bad loans through indiscriminate lending, and being more selective in accelerating development projects in the pipeline. According to Hong Kong's new Chief Executive Officer China plans to have about 7% growth. This shift in approach would help China refocus on growth strategies recommended in the recent Development Reform Commission and World Bank Report on China....

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This editorial in the WSJ says Argentina's president Macri has taken the right steps for the economy by devaluation of the peso and lifting capital controls. The peso exchange rate fell to 13.3 to the dollar from the central bank peg of 9.8. The central bank raised its short term lending rate to 35-38%, sending signals to capital markets that it was ready to intervene if needed so that the peso would not fall too far, and preserving stability. President Macri is planning to remove the export taxes on wheat, corn and beef, and cutting taxes on soyabeans to increase output.

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US poverty rate increased in 2022 after two years of declines with the end of government aid. It increased by 2.3% and the median income declined to $74,580 adjusted for inflation.

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China's use of mass testing in Quingdao by testing all 9 million residents of this coastal city. Quingdao famous for beaches and beer has experienced a second wave after summer tourism.

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Going against the odds through hard work, and patient persistent effort tackling problems along the way, brings Ben Ainslie and his sailboat Britannia the first win in the Prada Cup sailing competition. 

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Only 12% of Americans take the minimum daily recommended fruit for healthy living, and only 9% of Americans take the minimum daily recommended vegetables, according to the Centers of Disease Control and Prevention (CDC). The minimum for fruit is daily taking one and half cups fruit. For vegetables it is daily taking two to three cups of vegetables. Women consume a bit more at 15% for fruit. An interesting finding in this study that explains the widespread obesity in the U.S. regardless of incomes is that of affluent and wealthy Americans only about 12% consume enough vegetables. This is very close to the percentage of poor people eating the recommended 2-3 cups of vegetables a day, which is at 7%. This is an alarming fact in that all sections of society are doing very badly, creating acatastrophic effect for healthcare. A diet without fruits and vegetable brings higher rates of obesity, cancer, heart disease, diabetes. If rich and poor upper middle class and lower middle class are all sharing the same lack of awareness it points to the lack of education in eating right as the big culprit. This is one area where government, universities, and the informed private sector, can change things if they wanted to. A challenge as big as that in literacy and education for the U.S. Alarmingly even though it is in the top ten read articles in the Guardian newspaper online edition on November 16, 2017, we checked the other sites. We could not find it under Health in CNN, where other topics such as sexual harrassment, and sugar cravings, were covered. NBC covered a different CDC report showing 71% of Americans are overweight or obese with BMI over 25, but made no mention of this report by CDC. Equally alarming is the statistic cited in the Guardian from the Union of Concerned Scientists that shows only 2% of American farmland is used to cultivate fruits and vegetables. That this would have to go up at least to 4% if all Americans are to get their daily required fruits and vegetables. Meanwhile little change is to be seen, and no alarm bells are ringing in the U.S.. These facts are hardly mentioned in any healthcare discussion in media, as if they can be ignored or shoved under the carpet. This is the kind of thing that will never go viral, as a discussion on sexual harrassment or some other topic would, yet deserves just as much attention and education. ...

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As the German government seeks to rescue Deutsche Bank through a possible merger with Commerzbank, this report in the NYT describes the bank's U.S. operations and risky ventures. Deutsche Bank faces huge losses from settlements, high management turnover and an uncertain future.

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The European union follows the U.S. with its actions on Hong Kong, suspending an extradition treaty and imposing sanctions, offering new visa arrangements and opportunities.

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Guardian view that "obscurity of purpose" and "lack of compelling argument" are problems with Keir Starmer's leadership in Britain. Recent infighting in Labour has created new risks for the budget and changes made by Rachel Reeves.

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Hillary Clinton is critical of Ted Cruz's comments about patrolling Muslim neighborhoods and Trump's comments on torture. She cites John MacCain and George Shultz in support of her position. Clinton also points to lack of adequate coordination between EU nations and with Turkey on terrorism risks as a serious problem to address following Brussels terrorist attacks in March 2016. Clinton says it is easier for the U.S. to obtain flight manifests from an EU nation than it is for EU nations to do this with each other.

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Paul Volcker sets up the Volcker Alliance foundation to support improvement in how government works at the federal, state and local levels. Volcker sees it as a catalyst for improving government and for renewing the spirit of public administration that pervaded America as it recovered from the Great Depression and World War II. Volcker's concerns for the situation in America in 2013 are: the lack of effectiveness of federal regulatory agencies, and the lack of the spirit of public service, the missing enthusiasm for work in public administration. There is he say too much emphasis on the theory in public administration and not on the way it works and getting good governance. The Volcker Alliance will be independent of academic institutions, and act as a catalyst, with senior people working alongside junior people and nonresident fellows. The initial budget is $5 million, some of it from Volcker's own account, and based at his offices in New York.

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The meeting of EU leaders in Brussels in Oct. 2012 focusses on the issue of setting up banking supervision for eurozone banks. France pushed hard for setting up the banking supervisory authority by Jan 2013. German chancellor Merkel facing elections in Sept. 2013 pushed for a longer time frame into 2013. Setting up the banking supervision, a basic part of the new eurozone financial architecture, would clear the way for direct aid to Spanish banks. In the end Germany and France agreed to complete the legislation setting up the supervisory system by the end of 2012, and getting the supervisory authority- to be placed under the ECB- operational "over the course of 2013," in Merkel's words.

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This picture essay in The Guardian shows the British-German Netflix production with Jeremy Irons of Munich- the Edge of War. It shows 1930's London as Britain prepares for war against Nazi Germany over Czechoslovakia.

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The new iX3 will run 497 miles on a single charge and shows BMW's effort to reinvent the car from the ground up says it's CEO. Mercedes electric GLC will run for 457 miles on a single charge, competing at $80,000 with the Model Y of Tesla which does 387 miles at over $60,000. Mercedes GLC price is still to be decided. Tesla has lost a third of it's market volume in the European market. The newer versions of Mercedes and BMW join VW's own models that compete at the lower end of the price range which today is close to $30,000-$40,000. Earlier reports in WSJ show the German models are competing for dominant share in Europe.

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Erdogan's grip on Turkish politcs loosens as he loses in both Ankara and Istanbul. Since Erdogan started out as Mayor of Istanbul in 1994, as a young politician with nationalist credentials, this is seen as a significant shift. A younger leader Mr. Imamoglu is now seen as new Mayor of Istanbul.