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India achieves an initial vaccination target of 3 million vaccinations in a single day on March 14, 2021. Much of recent increase is from people over 60 getting vaccinated. For healthcare workers the first priority group about 50% still need to be vaccinated. This sets the stage for taking the vaccination drive to the next level in India. Increasing number of people are now getting their second dose.

Health experts see not vaccinating the vulnerable population fast and wide enough as a missed opportunity. The need has never been greater to vaccinate with better organization, vaccinating staff, and supply of vaccines at locations, so that this beats any second surge.

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German Chancellor Merz says welfare entitlements are becoming a strain on the economy. The welfare entitlements growing in size puts huge strain on the budgets of US, Germany, UK, and France. Small changes in the Medicaid program in work requirements became politicized in the US spending bill passed in Congress. The size of the Medicaid program in 2025 is an example. Started in the LBJ administration it was $1 billion in 1965 covering 4 million people increasing to $10 billion covering 20 million people in 1976. 50 years later it covers 3.5 times the number of people at 71 million at a cost that is staggering of $900 billion. US population in the 50 years increased from 218 million to 342 million by 57% when the Medicaid population grew at 355% of 6 times the actual population growth showing that the country in some ways was growing much poorer and unhealthier and that other factors were also at work. As a percentage of the size of the economy  Medicaid growth was $10 billion when GDP was $1700 billion in 1975 or .00059% vs $900 billion when Medicaid is $900 billion  when economy GDP in 2025 is 30,000 billion or .03000 which is 50 times the percentage in 2025 vs 1975. At work in this is the ballooning cost of the way medicine is practiced in the US, and other factors.   ...

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Michigan Governor Whitmer, a Democrat, says she supports tariffs in a state hit hard by offshoring of American factories and loss of jobs leading to decay of small towns depending on factories. She says tariffs should be done in a way that do not increase cost of living for workers and families. Whitmer calls for distribution of tariff revenues to workers and small businesses hit by tariff related price increases in this op-ed in the Washington Post. DJT has called for a $2000 rebate to go to American workers and their families and all who are impacted by tariffs using the tariff revenues in 2025 and 2026 estimated at $550 billion. Expect to see this money to go out to workers before the midterm elections. 

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About 80% of Ballmer's money ($150 billion -former Microsoft CEO) is in Microsoft stock and 20% in index funds. He tried investing in stocks, Colgate Palmolive at advice of Jim Cramer a college buddy. Then tried diversifying. Tried money managers and found it difficult to find ones that outperform. So he dumped them all. His approach was shaped by Warren Buffet who says put it in S&P shaped index fund. He says-  Keep it Simple. Keep it Simple. We are financially blessed. What I seek says Ballmer is not to have anxiety, not to have to spend a lot of time, where we are blessed enough if we make 7%, the standard S&P return in the long run. He had luck listening to the right people and his loyalty to the company.  When Balmer left office as CEO in 2014 Microsoft market capitalization was $300 million. Ten years later it is $3 trillion with work on cloud computing and AI. Microsoft gained 29%  each year in that period including dividends, the S&P 13% with dividends, endowments 8%. As investor non-investor Ballmer now exceeds $150 billion and is No. 9. Most investments are in one trick ponies Google for example or in two trick ponies Apple, Amazon or Microsoft. One trick pony means they milk it, and milk it, and milk it. Three trick ponies not many you can find. ...

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Legal experts say Lufthansa faces significant liability claims from the 150 persons killed in the crash of Germanwings Flight 9525, beyond the $150,000 per crash victim established by international airline rules. The claims could be much higher in countries such as the U.S. and lower in Germany. Lufthansa's insurer Allianz would pay out the claims, with Lufthansa incurring higher future premium costs. Lufthansa said it was initially paying out 50,000 euros per person to relatives of victims. Airline insurance premiums were about $1.65 billion for the industry in 2014, according to Ascend Worldwide, with premiums down by over 50% since the Sept. 11, 2011, terrorist attacks, and were not affected by the loss of two Malaysia Airline aircraft in accidents recently.

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At a time when the Ukraine war has hurt poor countries Germany plans to cut its development aid by 12% in its draft budget. The budget is expected to shrink to 10.8 billion euros at a time when defense budget is increased to 50 billion euros. The boost to defense is a result of the war in Ukraine. Germany is also set to cut its contribution to the World Food Programme by 50% to 28 million euros. Russia and Ukraine supply wheat, cereals to poor countries. High energy prices also affect these countries.

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In an intervew with WSJ's David Pearson, Tom Enders, CEO of Airbus, points to the changes at Airbus after improvements in governance in 2012, leading to a smaller role for the governments of France and Germany. One is the shift away from Europe. Compared to 2004 when Airbus orders were 50% from Europe, this has dropped to 10% in 2014. Airbus is also staying away from a 623 million euros loan from Germany for the new Airbus A350 widebody jet, because of pressure from the German government to allocate work to German factories. The same policy will be followed in future programs to rely less on government support. Enders does not want to be tied down to certain workshare agreements imposed by governments with the loans. In 2012 Airbus reduced the role of the German and French governments with a large increase in the percentage of shares traded on stock markets. In the past the funding was critical for programs. Today Airbus has 9-10 billion euros on its books because of booming sales.

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French and German authorites raid banks in an investigation on a $50 billion tax avoidance scheme in the European Union.

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France has some obvious strengths in nuclear energy with 58 nuclear plants generating 80% of France's electricity. And Electricite de France is owned 85% by the French government. The French government is working to setup a partnership between EDF and the other nuclear energy generator manufacturer Areva. Problems include the larger reactors that Areva makes and the company falling behind in the schedule to set up reactors in Finland. Abu Dhabi recently opted for South Korean reactors.

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The severe impact of sanctions on availability of car parts in Russia is shown here in this Guardian report. Few industries are impacted by Russia's total isolation as the car industry says this report. Car sales in Russia have dropped by 84% according to the Association for European Business and car prices are up 50%. Import substitution is not working for the car industry say experts. The owner of a car repair firm in Moscow says speculation for car parts is rampant with parts cost up by 800% and original oil up 1000%. Reports show counterfeit or stolen parts flooding the market. The airline industry is also impacted by the severe shortage of aircraft parts. One Russian pilot says there are enough aircraft wheels and pads for one month maximum. A manager of Sukhoi Superjet says he gives the Russian airline industry one year if nothing changes. Safety concerns of pilots are being ignored says one pilot. Parts are being cannibalized from older planes for new ones to keep them running. With the nation's automobile and airline industries affected in this way the quality of living is affected in Russia only 3 months into this war. Having a large inflow of revenues from oil and gas for the 6-12 month period that it takes Europe to respond, and a large reserve fund of about $610 billion is not a real reflection of the strength of a country. In today's interconnected system of supply chain no degree of industrial strength would allow a nation to wage war through invasion with impunity without finding itself in severe difficulties for the quality of life in the country as the world community responds. The response is to prevent the wrong lessons being drawn by one nation using full scale war to occupy another nation and getting away with it.    ...

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Tobacco use has reached levels of catastrophe in Jordan as a major public health crisis develops. This Guardian report says there is influence of Big Tobacco in developing countries. About 80% of men in Jordan use tobacco or smoke cigarettes, according to a government and WHO study, smoking an average of 23 cigarettes a day. This could soon spike rates for cancer and other lung diseases, and warnings of a future public health catastrophe comes from the Amman King Hussein Cancer Center.  Indonesia is one of the other nations with high level of tobacco use. In countries in Europe and America where tobacco use is controlled there are restrictions on advertising and efforts to control use which are less prevalent in developing countries that put there health systems more at risk from lung diseases. This is true even of countries such as India and China, where a lot remains to be done. At one time Japan also suffered from this problem. Revenues to the state from tobacco and other financial interests, as well as lack of strong public health protection agencies is a problem that needs to be tackled for public health. In China about 50% of men smoke and there are 300 million smokers, with one third of tobacco consumption in the world in China. In India the figures are 234 million and 47% of men smoke, with the highest smoking at 80% in Kolkata and over 70% in the northeastern states. The damage from this to public health is enormous. In China the China National Tobacco Corporation CNTC is the state run tobacco company, the third largest company by profits in China. In India the largest tobacco company is Imperial Tobacco Company ITC. Tobacco was brought to India and China by the Portuguese from Brazil 400 years ago and may have taken the most lives in the two countries over that period. ...

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Ross Sorkin says the information put out in Groupon's IPO filing by the investment banks and other information raises warning signs. Groupon has $225 million in the bank, lost $102 million in the 3rd quarter 2011 on revenue of $878 million. The company has current liabilities of $681 million and only $376 million in assets. It owes vendors $392 millon as part of the current liabilities. Groupon spent $432 million in the first 6 months of 2011 on marketing. Other information shows Eric Lefkovsky, Groupon's chairman, sold a dotcom company in 1999 which went into bankruptcy a year later. And of the $950 million in a pre-IPO round in January 2011, Groupon paid out $810 million to investors and employees. Of this Mr. Lefkovsky and his wife were given $319 million. Goldman Sachs is the lead underwriter behind Groupon's IPO offering. Because of the huge fees involved investment banks and accounting firms were willing to come up with inflated valuations and a questionable metric called Adjusted Consolidated Segment Operating Income, that showed operating income excluding major marketing and acquisition related costs....

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Europe's 750 billon euros plan to defend the euro currency, including 60 billion of EU backed bonds, a $440 billion euro fund guaranteed by euro-zone countries, and upto 250 billion euros of IMF money. The plan buys time for the troubled economies of Portugal, Spain and other EU countries, but does not address the fiscal and structural flaws that are endangering the European single currency experiment. The "no bail-out" clause and the stability and growth pact proved worthless in implementation. Sanctions for a country with growing problem of deficits did not work and had soon lost credibility, with the financial markets themselves recognizing the serious problems of some deficit countries only when things had spun out of control. Some other forms of sanctions will have to be figured out and mechanisms of dealing with financial panic such as sovereign debt restructuring need to be put in place. The German emphasis on too sharp budget cuts may have the danger of pushing deficit countries into deflation as well as creating strong popular unrest. ...

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Where EU gets LNG in 2024- Qatar 12% US 43% Russia 21% other 24%. EU's gas pipeline supplies increased in 2025 from Norway by 6% to 52.6%. Norway is also increasing its LNG supplies from Hammerfest. US under the Trade Agreement with EU US plans to send $750 billion in LNG exports to the EU. A Sustainability directive by EU for climate goals puts Qatar at risk of penalty of 2.43 billion euros according to DW.com. Qatar has said it may discontinue exports of LNG to EU in response and shift to Asian buyers. Since the Ukraine war and shift away from Russian gas pipeline supplies German economy Minister Habeck negotiated the deal with Qatar for LNG.

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The sheer glory and joy of Bach cycle from St Thomas Choir in Leipzig at Christmas can now be heard in this audio and video of 1 hour 56 minutes from DW.com. 73,000 visitors will visit Leipzig for the Bach Festival in 2021. The theme of the cycle this year is salvation. Here is an opportunity to hear this monumentally creative event right in your own home. Other videos show the new Elbphilharmonie in Hamburg that has already brought 15 million visitors. It sits atop a former brick warehouse once used for storing cocoa- now 16,000 square meters of glass panelling built by a Swiss architecture firm. Recently 800 people were vaccinated here in Europe's classiest vaccination center.

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See the Breakthrough Agenda Report on Climate Change targets and hurdles after COP26, on the IEA website, and opportunity for 85 million additional jobs by 2030 in renewable energy. The report is done by the International Energy Agency, the International Renewable Energy Agency, and Climate Change Champions. It points out the need for better international coordination if climate change goals set at COP26 are to be achieved. The report calls for a breakthrough by addressing the international "collaboration gap."

IRENA makes 25 recommendations to be discussed at ministerial meetings. It also says that 85 million new jobs could be created in renewable energy worldwide by 2030 compared to 2019, offsetting the loss of 12 million jobs, creating a huge jobs opportunity with action on renewable energy.

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Kristine Tompkins donates 1 million acres, the Chilean government donates 9 million acres, together this is being used to create 5 national parks and expand 3 in Chile. Since 1994 she and Mr. Tompkins a founder of North Face, who made $150 million from selling his apparel company Espirit, have accumulated land in Argentina and Chile as part of a passion for conservation. Tompkins died in a kayaking accident and Ms. Tompkins has decided to give it all away in national parks. Their story is part of a new documentary "Wild Life," by Chin and Vasarhelyi.

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Australian prime minister Morrison says it is imperative that Australia build its own guided weapons capability as a priority. On the 100th Anniversary of the Australian Air Force he announced a $550 million investment in building a new manufacturing facility for its own weapons, so that Australia is not dependent on long supply chains which could be disrupted. Funds will be fast tracked to build Australia's own production in 3 years, and a partner will be chosen. Australia sees China's new posture as a threat in the Indian Ocean region.

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This picture of Indian finance minister Nirmala Sitharaman picking out vegetables on a visit to the vegetable market and talking to vegetable vendors in Mylapore, Chennai, will be remembered for a long time for its casual feeling and simplicity. This is not just the Sitharaman as cabinet minister- this is also with Modi one of the proponents of the free rations food program that provided 5 kilograms of rice or wheat to 800 million Indians, with vegetables and lentil dhals, during the pandemic. This is what built the resilience of the world's largest section of humanity during the pandemic.

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Lloyd's of London is the world's largest insurance market with 35 million pounds in gross written premiums. Payouts for coronavirus are expected to be 6.2 billion pounds, with 3.2 billion pounds reinsured to reduce the losses. Lloyd's shows a loss of 900 million pounds for 2020. Without the crisis Lloyd's would have reported 800 million pounds of profit for 2020.  

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Aircraft engine manufacturer Rolls Royce says two thirds of its engines remain idle. Its cash burn for 2020 is 4.2 billion pounds. Rolls Royce supplies engines for the 787 Boeing Dreamliner and Airbus 350 aircraft. Its sales are normally 15 billion pounds. CEO Warren East says the company is going through its "darkest hour" and will not be seeing the beginning of the end till the middle of 2021.

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Germany's chancellor gives her support to French president Macron's call for agreement before the summer holidays on a 750 billion euro rescue package. Merkel told 27 leaders of EU countries Europe faces "very, very difficult times" and even said that she was not sure the gravity of the situation was truly understood. The value of the economies of some states could drop by 10% in 2020.

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The new India built refinery by RIL (Reliance India Limited) in the US at Brownsville, Texas, will reduce US trade balance by $15 billion a year and will produce oil using cleaner US shale oil and newer technologies that are less polluting for the environment.  India's RIL Refinery Project for $300 billion at Brownsville, Texas, is Explained here in the Indian Express. The Project is called America First Refining, and was announced by the US president recently.  $125 billion for 60 million barrels of US shale oil processed annually over 20 years and $175 billion for 2.5 billion gallons of refined product to be produced annually for 20 years. US  imports about 2.8 billion barrels a year and (exports 1 billion barrels a year) at a cost of $180 billion a year. This means the trade imbalance from crude imports will be cut by about 10% annually. The new refinery is the first in 50 years and is designed to process cleaner lighter shale oil from the US Permian Basin -whereas existing refineries are designed with older technology for heavier crude oil such as the US gets from Venezuela. Reliance India Limited has a fast turnaround time on projects- new project will come onstream in 2027. It currently has the world's largest single refining complex in Jamnagar, Gujarat, India.  ...

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The country is Turkey and the plant will supply 10% of Turkey's needs, about the size of the electricity for the city of Istanbul. Russia will build, and run the plant for 40-50 years in a new arrangement.

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Modi's personal campaigning helps the BJP party win 80% majority in his home state Gujarat's assembly elections.