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A study group at the Washington Institute for Near East Policy sends a public letter to U.S. president Obama on the Iran negotiations. It says the nuclear agreement negotiated with Iran "may fall short of the administration's own standard of a 'good' agreement." It is signed by some of Mr. Obama's main advisors during the first term. Some of these officials told the NYT that the letter was the result of serious concern that Mr. Kerry and other negotiators were moving towards major concessions that would weaken the international inspections of Iran's facilities, back away from making Iran reveal suspected past work on weapons, and allow Iranian R&D to move ahead with making nuclear fuel once the accord expires. The five Obama advisors from the first term who signed the letter are: Dennis Ross, Middle East negotiator, David Petraeus, CIA director, Robert Einhorn, State Department proliferation expert, Gary Samore, chief advisor on nuclear policy, Gen. James Cartwright, vice chairman Jt. Chiefs of Staff. Gary Samore is president of the advocacy group United Against Nuclear Iran. The letter was also signed by President Bush's national security advisor during his second term, Stephen Hadley. Such a large group of advisors to presidents Bush and Obama familiar with the details of Iran's development of nuclear technology and weapons capabilities could give Republicans support to kill any agreement that falls short on inspections during Congressional Review. On this key factor where only vague assurances are made by the Iranian side- such as signing an International Atomic Agency convention giving inspectors broad rights to visit suspicious sites, followed by Ayatollah Khamanei ruling out military sites- the letter is specific. Inspections it says " must include military (including Islamic Revolutionary Guards Corps), and other sensitive facilities. Iran must not be able to deny or delay timely access to any site anywhere in the country." Inspections work rigorously done is set as a precondition before any significant relief from economic sanctions on Iran....

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Sacramento is the first city going through an amazing transformation from a city with urban sprawl to a city with its own plan that is trying to bring residents closer without sprawl, and planning the layout from scratch so that residents can live without the long commutes and can bike to work or use other transportation. It has a socalled Blueprint which was developed by a coalition of ordinary citizens, politicians, developers and environmentalists. Behind this Blueprint is the dedication, the insight, ability at effective persuasion of Mr. McKeever Sacramento leading advocate for the Blueprint, using a model which showed what Sacramento would look like un the future and the impact on traffic, job growth and pollution depending on which way the houses were built, nearer jobs or distant from jobs. McKeever took this database, software and computer to townhall type get togethers in which people tweaked the models to see what impact it would have on pollution and traffic, even letting them play with it all day in a kind of display of grassroots democracy at work. He also showed how this would help developers by providing additional business of a different type than their typical lots and typical urban sprawl type construction of individual homes. By spreading their business they would do better if one type of housing suffered. This is what has happened in the current downturn and the housing demand and values of housing have done much better where they followed the Blueprint as this took account of higher gasoline prices and the bad effects of urban sprawl. Now neighbors can talk to each other walk down to where the community places like restaurants, library etc are. It has a feeling of community. Between 2003 and 2007 the number of projects with apartments condominiums and townhouses for sale in the region increased by 533%, while the number of subdivisions with homes on lots bigger than 5500 square feet fell by 21%, according to housing-research firm Hanley Wood Market Intelligence....

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For a change see parts of Tokyo you normally do not see, and way down in Kyushu island see the Kagoshima region. It is part of this trip to Japan for a 4 day break suggested in The Times of London. 1) Take the Toei streetcar- take the Tokyo Sakura tram running from Minowabishi station in Arakawa, where bits of old Tokyo still exist in narrow alleyways and pubs. Take the tramcar to Waseda station in Shinjuku. An hour's ride and 30 stations with a one day ticket to hop on and off as you feel like. 2) Take in the Sumoida Hokusai museum, and see the famous works of Katsuhika Hokusai, at a museum dedicated to him. Don't miss the woodblock print Under the Wave off Kanagawa, and the series Thirty six views of Mt. Fuji.  3) On Day 2 head to Kagoshima, a 2 hour plane ride from Tokyo. There are 20 flights from Hnaeda airport in Tokyo to Kagoshima airport. You will see Mt. Fuji from the plane at 11,000 feet. In Kagoshima take the airport bus to the city centre and get on the Sakurajima Ferry, about 15 minutes running 3-4 times an hour, 24 hours a day. It goes to Kirishima-Kinkowan National Park, with active volcano Mount Sakurajima, cedar woods, sandy beaches, azalea covered mountain slopes. Try the mineral springs or onsen for a serene atmosphere. 4) For Day 3 take the Ibutama train for an hour ride from beachside town of Ibusuki for sea views, and look for "Mystery Island." During the summer months a sandbar causeway appears for some time allowing one to cross and look at the uninhabited island amidst the sound of the waves and sea air. Then back to Tokyo after a zen period of serenity and calm.   ...

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Roubini at NYU and Rosenberg at Merrill Lynch see serious damage this time- prolonged and serious downturn. Roubini sees the auto loans and credit cards next as another bubble unraveling. The consumer may have already been affected and the effects there may be serious and lasting in 2008 and 2009. Exports may not boost manufacturing that much as to make up for the severe impact of a number of things-tight credit, consumer spending declines, housing bust, and escalating oil prices. The losses from the housing and mortgage bubble has been estimated at around $400 billion, Roubini thinks that the figures approaching $100 billion that the candidates are saying they would stimulate the economy by are nowhere near the $300-$400 billion needed and the government cannot afford that magnitude of stimulus. Experts are saying that the losses of firms are not revealed as firms are not saying much, and there is a lot more to come which will act as a further drag on growth. Roubini thinks this one will be severe and a recovery may not be in the works to 2010 or 2011. Some stimulus after the election and rate cuts may just make it appear that things may reverse themselves, but there is just too much going on. The consumer has human feet that are bound to falter at some point with all this burden stacked onto him....

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The Kristian Anderson memo to Dr. Fauci is the No. 1 story in the WSJ on June 5. This memo written on Jan 31, 2020 shows the initial reaction of the leader of five virologists to the coronavirus genome. Nicholas Wade writing in WSJ cites this memo as having missed the censors marker as the emails to Fauci were released under the Freedom of Information Act. The initial reaction is cited in the Anderson memo to Dr Fauci as seeing "unusual features" in the virus. These were in a small percentage of the genome, "so that one has to look really closely at all the sequences to see that some of the features (potentially) look engineered." Mr. Anderson goes on to note that he and his team of virologists 'all find the genome inconsistent with expectations from evolutionary theory." What does Anderson mean by this important phrase? Anything inconsistent with evolutionary origin has to be man-made is the conclusion drawn by many virologists including David Baltimore, cited here in the WSJ. Virologist later modified their stand saying it was evolutionary because of professional interest in not starting a what WSJ calls "storm of condemnation" over gain of function research, a exotic name for genetically enhancing the pathogenic power of viruses or increasing its transmissibility effect. Nicholas Wade is a Science writer who has worked for Nature, Science and The New York Times. ...

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A study by the Pew Research center shows minorities are the ones hardest hit in the millions of foreclosures taking place in the US. Counties with black or Latino majorites and the New York region are hit severely. What appeared to be a boon five years ago as black home ownership rose sharply after decades of discriminatory lending and zoning practices, has now turned into a curse with families losing homes to foreclosure, neighborhoods seeing increasing crime and declining house values, and renters being evicted. Lenders like Mozilo's Countrywide and other similiar lenders simply used the idea of home ownership as a flag to get political support for a wild west in lending practices, which allowed predatory lending to take place in the deregulatory atmosphere of the time. See the link to the impact on minorities. Nowhere has it been shown more pointedly that prudence and character in leaders in all areas is the essential conditon for progress, making free enterprise a necessary condition but subject to this essential condition, than in the way the housing and foreclosure crisis is hitting the American and the world economy in so many ways. This is evident in neighborhoods like this one on 145th st. in Jamaica, Queens, whaere black households making more than $68,000 a year are five times as likely to hold high interest subprime mortgages as whites of similiar incomes. Defaults occur three times as often in minority census tracts as mostly white ones. And 85% of the worst hit neighborhoods have majority of black and Latino homeowners. Which may also explain why there is not agroundswell of support for serious government foreclosure prevention measures like bankruptcy legislation and other legislation such as that suggested by Martin Feldstein and others for homeowners nearly or already under water, when faced with fierce lobbying by the banks and financial institutions. Consumer advocates say years ago many banks drew red lines around black neighborhoods and refused to lend, then as deregulation became the rage five years ago, these banks under unscruplous leaders targeted these neighborhoods for subprime lending. A dozen banks and lending companioes that made big profits from subprime loans accounted for half the loans given to the New York region'sblack middle -income borrowers in 2005 and 2006, a case of reverse redlining that the N.A.A.C.P. says in its lawsuit against these lenders. Housing and Urban Development Sec. Shaun Donovan, in aspeech to New York University said that 33% of the subprime mortgages given out in New York City in 2007, went to borrowers with credit scoresthat should have qualitifed them for conventional prevailing-rate loans. For anyone taking out a $350,000 mortgage, says the NYT, a difference of three percentage points - a typical spread between conventional and subprime loans- tacks on $272,000 in additional interest over the life of a 30 year loan. ...

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About half of UK adults reported experiencing high levels of anxiety says the Office of National Statistics for the the first lockdown. During the second lockdown the fatigue coming from that period in March and the higher level of cases is likely to have increased the number of adults experiencing anxiety. Anxiety was experienced from the loneliness and the effect of the coronavirus on work. A quarter of all adults reported increased sleeplessness. Stockpiling, overworking, irritability, micro-managing, and alcohol consumption, are some of the erratic responses to this level of added anxiety. Experts suggest different responses. leadership and incremental change to put the problem into context. Such as in the case of coronavirus the important behaviours that one can control such as masking properly, social distancing properly, ventilating and cleaning the air with aircleaners, using necessary caution in outside exposure by limiting to the essential, and taking nutrients for defence against virus, other actions. After putting these in place the risks can be minimized.  At that point focusing on the present is seen by experts as the right way to respond. Get through this period or this week first, leave the next week or the next period for next time. To do this  baking, reading, hobbies, running, walking, yoga, gardening, and outdoors, a whole range of other activities including watching sports, listening to radio and music, all fall into this. Spending time doing things that make us happy. A good exercise is asking how does this make me feel, am I more relaxed? am I happier? Put things in perspective, is this catastrophising? Is this making it bigger than it is? Can I put away the illusion of control when control requires some higher power such as God. Can I leave that part to God, to the divine. Cognitive behavioural thinking modification is a way of tackling stress, loneliness, and the depression and anixety that feed on each other. Being aware that we may have wrong behavioural responses, asking questions about how accurate our thinking about things that pose threatening situations is, are helpful in tackling the anxiety.   Just breaking the pattern of behavioural responses of repetitive thinking is helpful by engaging in other activities. Meditation is helpful. Yoga is helpful. In this pandemic learning about nutrition and increasing one's knowledge of food, eating and exercizing right, of cooking, is a useful way of turning a negative into a positive.     ...

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What is the UNRWA? It stands for United Nations Refugee Works Agency, and it is mainly to assist giving aid to Palestinian refugees. The European Commission has committed to give $90 million to the agency, Sweden is adding $20 million and Canada is also going to add aid money to help the desperate refugees displaced from their homes in Gaza. Johann Forsell, Sweden's international development minister says "The humanitarian situation in Gaza is devastating and the needs are acute. We will monitor closely to ensure UNRWA follows through on what it has promised." Since the war began in Gaza 162 members of the UNRWA staff have been killed, the highest of any UN agency in any conflict. 

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Many of Cerberus executives and advisers are former GE employees and Nardelli was part of the group looking at Chrysler for Cerberus. He is being hired mainly for the work he did at GE, for his work promoting Six Sigma and quality control which would come in useful at Chrysler, and his work in doubling the power generation business at GE with large earnings increase. His experience at Home Depot has been discounted, probably seen as a bad fit for Nardelli. Moreover even as CEO he will have to work closely with the owners and theadvisers and with La Sorda who has experience running Chrysler, and he won't be involved with a retail market or with shareholders in the way it happened at Home Depot. As far as huge compensation which could alienate the unions Nardelli will be compensated on the basis of ownership in the new Chrysler if it meets its goals. So it could be a way to take advantage of experience at GE, carefully limiting the downside of Nardelli because of the nature of the position in the Cerberus owned Chrysler. And Cerberus may be thinking also that Nardelli would have learned from his recent experience and also that he is motivated to do his best to rebuild his reputation....

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United Airlines has asked Airbus and Boeing to come up with competing bids for 150 new jetliners, an order worth an estimated $10 billion. After the 9/11 bombings, with the slowdown in air travel and the steep losses airlines suffered from high oil prices, its the overseas airlines that made the big orders. The domestic airlines were content to work with an aging fleet. United's move at this time may be calculated to take advantage of the improving credit situation, and the lower prices of steel and other commodities to get better pricing from manufacturers. The thrust of the order is to replace 11 of United's wide body fleet, the Boeing 747,757,767,and 777 model fleet. The average of these planes is 747-13 years, 777- 10 years, 767- 14 years, 757-17 years. See graph. The most crucual conditions United is looking for are financing arranged by the manufacturer that does not use United's cash, and the flexibility to change the order later if market conditions change. United sees this as amove to get good pricing and financing terms now so that when the planes are delvered over time, spread out over several years, the planes would come in just when air travel is picking up with an economic recovery. If it does not get the terms it wants, United may wait. It has already retired half of its oldest planes, the Boeing 737's, with the remaining half due to be replaced by end of 2009. United's competitor American Airlines, announced in fall 2008, that it wants to order upto 100 Boeing jetliners if it can get new agreements with its pilots union. In spring 2009 American speeded up deliveries of 737-800's to replace some of its old MD-80's. Newer aircraft mean better fuel efficiency, and ways to cover routes that are not possible with older aircraft....

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The Awakening members who went on the American payroll were former insurgents who fought the American military forces and worked with Al Quaeda organization. They did this at a time when tribal leaders were under great pressure to work out some kind of settlement with the Americans, and Sunni civilian casualties from bombings had alienated the Sunni general public from their activities. Now that Americans are announcing a phased withdrawal first from the urban areas and then from the rest of the country, the Shiite government is trying to keep a check on the Awakening fearing they might reorganize to fight the Shiite government once the Americans left. Only about 5200 of the Awakening members have been allowed to join the 100,000 security forces according to General Perkins. Now the Shiite led security forces want to arrest the most effective of the Awakening members about 650 are on the arrest list according to insurgent members. Only 5 have been arrested and most have fled the areas which they first terrorized then helped keep safe on the American payroll....

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Obama's 2009 Stimulus package sets aside money to promote new mass transit infrastructure building, but no money is set aside for operating budgets of existing mass transit systems. With prices of diesel fuel doubling in 2008, and revenue from state property sales and fuel taxes down from the economic downturn- on which the mass transit depends for operating budgets- many systems are considering service cuts and fare boosts. Transit agencies are facing huge shortfalls in New York, Washington DC, San Francisco and Chicago. Th Metropolitan Transportation Authority which runs public transportation in New York city and greater New York has a shortfall of $1.2 billion in a $11 billion operating budget. It will be forced to cut fares by 23% and severely cut services, including some lines like the Z line and shorten hours, to meet budget. All this is happening as use of public transportation is surging, and is at the highest level in over 50 years. In 2008 Americans took 10.7 billion trips on the country's 6,500 public transportation systems, according to the American Public Transportation Association's recent report. Some of the systems are old and need renovation. New York's operates 24 hours aday and handles millions of riders. Repairs are needed on its 90 year old signalling mechanisms. The MTA has maxed out the money it can borrowfor repairs, and debt service costs on its loans will reach $2 billion a year. Additional Stimulus needs to set aside money for the modernization of existing mass tranist systems, which would deliver value just as significant as the new mass transit infrastructure building that is planned....

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People who worked with Romney in the Mormon church describe the experience of Romney who started as an "iron rodder" walking the straight path, and gradually learning of other people's experiences that led to learning and growth and showing a new openness. In contrast to his "47%" remark about people dependent on the government, here he is seen telling another church member Barlow, that what bothers him most and what he has thought a lot about is how to genuinely help the poor in his church. Over the years he learned to compromise with Mormon feminists who sought larger roles in the church and was able to make the progress from being less flexible to being open to other ideas and perceptions. In other situations he allowed unorthodox progressives in the Mormon church to play a part in the organization and teach. The outreach efforts Romney participated in actively included efforts in the inner city and working with immigrants from Haiti, some of whom were illegal immigrants. This is a detailed well researched account from talking to many people active in the church organization and in the church community by Jason Horowitz of the Washington Post. It is one of the rare glimpses of the life of Mitt Romney inside the church. Because of the public perception of Mormonism there is a distance kept with accounts of life in the church, and Romney has shown the same reticence to talk about the church. Seen as a church it is is like other churches, Catholic or Protestant, with the same challenges that face all churches- keeping up the size of the congregation, the poor, immigrants, church organization, raising contributions, getting people to donate hours of work to the church activity. It is one of the ironies of the 2012 presidential campaign that Romney as a member of a Mormon church in a predominantly Catholic and Protestant world has remained reticent about his experiences and how it shaped him. And also remained reticent -till the last months of the campaign with the demands for authenticity growing strident- about how the experiences as governor of the liberal state of Massachusetts had shaped him, this time as the number of Republican politicians in sharply liberal states were a distinct minority in the Republican party. To voters this meant not knowing who he was beyond Bain Capital, the perceptions of which doggedly pursued Romney till the reticence became unbearable in the final weeks of the campaign....

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Louis Uchitelle talks to Stanley Moses, an economist at Hunter College in New York, and others, to find out if things will work out as expected with the $700 billion or $800 billion that Obama plans to invest in infrastructure, energy, and other things to generate the 3 million jobs and investment. Will this generate private investment like the Interstate Highway program which ocurred during the Eisenhower days and set the economy on fast growth, or will it generate enthusiasm and jobs for a few years, and just as Roosevelt backed off in 1937 to let private investment pick up he found that it was still too weak to make a difference. The point that he hears from some experts like Moses is that the current times are setting up for a deep downturn, so that is not reminscent of the Eisenhower years when the economy was getting on the growth track after the war years. Its not exactly like the Roosevelt years either, because of the many changes that have ocurred in a modern economy, but in terms of the mood, the collapsing investment, consumer spending and credit and the collapsing growth in emerging markets which hits exports, this is a situation that is not easily reversed with a few years of aggressive government spending. Things have to change in the public's mood and in private industry's initiative to invest that would return the economy to a growth pattern, and this may be a long time coming with so much deterioration happening at the same time....

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Using the design-build method under which architects and construction experts work together as a team, Orange Medical Centre, a new 374 bed hospital in Middletown, New Jersey, has reduced the construction costs by one third. Only 9% of the total square footage of hospitals built in the USA used this method according to Modern Healthcare an industry publication, so this is one more area in which health care savings can be found- and there may be many more areas like this- which goes to show that ingenuity, experimenting with new ways and asking questions about old ways of doing things, can generate large savings, especially when it becomes a necessity. As the old proverb says, necessity is the mother of invention. Design-build differs from traditional construction in that the architect and the construction company come from the same company. They understand each other so well that they can finish each other's sentences. This cuts out the waste and back and forth that goes on with changes that are made, as the changes are minimal. This is a big source of the savings. This is similiar to the integration of design and manufacturing experts into one team in the auto and other industries. HBE Corporation of St Louis is the company that handled this work. Its asmall outfit with 500 people and this is the largest hopital it has built, so there is potential for doing alot more in this field for health care savings....

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The story from the side of an Shiite Iraqi Brigade commander who served in the Hussain army in the Iran-Iraq war, that shows how the Americans under General Petraeus persevered and won with a new counterinsurgency strategy of clearing an area of militants and then carrying out humnanitarian projects by living in the same areas where the militants lived so to speak spread out among the people, This has worked in the insurgency areas around Ramadi and also in the Mahdi areas in Basra and gives the Iraqi army the confidence to bring safety and law and order to Iraq. The perseverance of the Americans and corrective actions like in this case letting former Iraqi army soldiers enlist and work in the new Iraqi army and letting some of them rebuild their brigades as is the case with Al-Azawi. Gaining the confidence and support of tribal leaders has been another element of this strategy as well as getting some of the insurgents on the American payroll under the Awakening groups. And quite a lot of credit goes to Petraeus for leading this effort against the odds and using unconventional methods that helped get the job done and bring some sense of safety throughout Iraq in an unbelievable turnabout of events....

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Supply chains are unraveling in many industries with the tariffs imposed by president Trump on imports from China, and renegotiated trade deals with South Korea and other countries. The growth in the value of foreign value added was possible with cuts in tariffs in the period after 1990 and the emergence of China as a low cost manufacturer with cheap labor. Foreign value added increased from 20% in 1990 to 30% in 2011. The impact on factory towns and communities in the U.S. of trade in which the U.S. manufacturing declined as it shifted to China resulted in the surge in support for president Trump. The tariffs war with China is an effort to correct this imbalance. The result is a shift in supply chains away from China in some industries and gradual shift in others. Rising wages in China had already resulted in early shifts and the the environmental costs adding to this trend. President Trump temporarily suspended a threatened imposition of duties of 25% on $325 billion of Chinese imports. A renegotiated Nafta agreement with Mexico for automobile production and determination of U.S. based content and wages was designed to reset the relationship with Mexico and the auto supply chain for production in Mexico. A threat of tariffs on European auto imports to the U.S. is set for a decision in November. The trade dispute between Japan and South Korea and threat of tariffs also shows the effect this is having in other countries. With the U.S. looking at its own interest in the global supply chain and its advantage or disadvantage, industries and companies are not free to make decisions based on which country offers the best arrangement and deal for manufacturing. Notions of competitive advantage in the tech race with China are affecting the way the U.S. and European nations are acting. ...

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Some thoughts on taking away from the private sector its resources and ability to create or preserve jobs as a matter of concern, as the public sector or government can only create temporary work jobs which are needed but not to the extent where the private sector resources are diverted and it gets compromised. The other matter of concern is spending that does not take into account the impact of higher and higher taxes on the economy. These concerns and the importance to strike the right balance so that new jobs can be created in useful infrastructure and energy spending and at the same time preserving the vitality of the private sector. And not overburden the system with higher taxes by government spending that is not carefully targeted to get best results and wisely done.

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The majority report of the Financial Crisis Inquiry Commisssion says Alan Greenspan and Ben Bernanke, regulators, and several financial institutions were responsible for what was an "avoidable disaster." The report criticizes Mr Greenspan for advocating deregulation and considers the failure to stem the flow of toxic mortgages under his leadership at the central bank as a "prime example" of negligence. The report also says that the New York Fed under Timothy Geithner, now Treasury Secretary, also missed signs of trouble at Citigroup and Lehman. There are 6 Democrats and 4 Republicans on the Commission. The fourth Republican has his dissent, calling policies to promote home ownership, the role of Fannie Mae and Freddie Mac a major cause. The panel was hobbled by internal divisions and staff turnover, which have made what should have been a report of major significance into one marred by partisan differences. The majority report itself was heavily shaped by Phil Angelides, the committee's chairman, and it has many literary phrases. Overleveraging was a critical factor in the crisis. For every $40 in assets, the US's 5 largest investment banks had only $1 in capital to cover losses. The banks hid their leveraging with derivatives, off-balance sheet entities and other devices. The banks relied heavily on short-term debt which worsened the crisis. The report also said the Clinton adminstration's decision to exempt over-the counter derivatives from regulation- made in the last year of Clinton's term- also helped set up the ground for later events leading to the crisis....

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Nigerian writer Chinua Achebe brought Nigeria to life in American schools and colleges and in schools and colleges throughout the world. He started as an obscure writer from Nigeria's rural southeast. His early novels were written in the fifties and sixties an embodied a perod of great expectations in Africa after independence. "Things Fall Apart," wa published in 1958, and sold 10 million copies in 50 languages. Other books reflected the troubles in Nigeria as things fell apart with dictatorships and wars- "Man of the People," "There Was A Country." In the seventies Achebe was editor of British publishing house Heinemann's African writer series and was instrumental in bringing a whole new set of African writers to readers around the world- Kenya's Ngugi wa Thiong'o, Ghana's Ayi Kwei Armah, Cameroon's Mongo Beti. In 1982 he campaigned briefly for a political party and wrote the 68 page "The Trouble With Nigeria." After a car accident in Lagos, Achebe was paralyzed waist down and had to be in a wheelchair. During this period he went to Bard Colege in New York, and in 2009 joined Brown University in Rhode Island, and lectured extensively. He was revered in Nigeria but remained critical of Nigeria's political leaders, telling them they were "turning my homeland into a bankrupt and lawless fiefdom." The gradual emergence of Nigeria and the rest of Africa from decades of strife and corruption, following the great hopes of the early post colonial era, owes much to the work of writers and other individuals like Achebe. Achebe has some important advice for writers, for business, and life in general, "if you don't like the story write your own." Another writer who writes about Nigeria and Africa was honored with the Nobel Prize in Literature....

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Key aspects of the new tax plan of the Trump administration are a 35% top tax rate for individuals, instead of the current 39.6% top rate, and lower brackets at 10% and 25%. Standard deductions are to be doubled, other deductions except for mortgage interest and charitable giving, are to be eliminated. The deduction for state and local taxes will be eliminated, with this hurting residents of high local tax states such as New Jersey, New York, and California. Gary Cohn, head of the National Economic Council and Treasury Secretary, Steven Mnuchin,  have helped formulate the plan. Cohn sees a big opportunity here for a huge tax cut and simplifying the tax system. The corporate tax rate would drop from 35% to 15%, and future foreign profits would owe little or no taxes. Corporate tax rates are lower in the UK, Germany and Japan- closer to 20%, and France has a similar 35% corporate tax rate. The hope of the Trump administration is that this will generate 3% GDP growth rate and spur creation of jobs. Still to be decided at what level tax brackets for individuals will be set, and what level earlier foreign profits will be taxed, and the child care break. ...

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Room for Debate in the New York Times is a running commentary on the news. This is a type of format for opinions of experts on issues in the news, which invites readers to comment. Instead of an article or blog with comments, a range of expert's opinions are presented first before readers are invited to comment, in the hope that readers have a chance to look at the issue from different angles before expressing themselves. Two recent issues were nationalizing the banks, and this one on states setting their own fuel efficiency standards.

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This report in the WSJ points to president Biden's speech to a joint session of the US Congress that providing two years of free community college would "change the dynamic" for education in America taking the first step to correct a dangerous drop in college enrollment for young men in America and ensuring working class families have access to college education. The last thirty years of skewed wealth distribution, loss of manufacturing in America, have created alarming distortions in  the access to college education for working class families. Mrs. Biden is a fervent advocate for community college access in today's America, as a community college teacher for 30 years. Biden's $45.5 billion 5 year plan would waive tution for 2 years of public community college. States would have to opt-in to participate, and federal government would provide 100% funding in the first year, decreasing contribution by 5% each subsequent year, with states picking up rest of the cost. It is quite shocking that this is being dropped from the Biden $3.6 trillion Families and Workers Plan that is now being whittled down to $2 trillion. Not because it is not badly needed for American economic competitiveness, and helping workers and families. But because following narrow parochial interests the National Association of Independent Colleges and Universities opposes it. And because the US Congress is evenly split between Democrats and Republicans 50-50 in the Senate. The Association of Independent Colleges sees a shift to community colleges and a sharp drop in its enrollment. Community colleges saw a dangerous drop in enrollment of 12% to 4.5 million students in 2020 from the spring of 2019, according to National Student Research Center. Never was a program more badly needed, as American men are alarmingly falling behind in enrollment. Here are some responses to the failure to take even the first steps to broaden college access so that America can return to economic competitiveness. "What kind of world do we want to live in?" Martha Kanter, College Promise. "That's kind of a devil's choice, isn't it? The whole system has to work from infant care all the way through." Senator Tina Smith, Democrat of Minnesota. This is because child care and children's education will be funded yet a struggling generation of college students will be left out. US Chamber of Commerce opposes a $45 billion program that is critical to American competitiveness with China and other countries. US Congress drops a program that at $45 billion is only about 2% of the $2 trillion package and which is critical to economic competitiveness. Former Republican Governor Bill Haslam of Tennessee supports community college access as a pillar of economic development and it passed the supermajority in 2014. Mike Krause, Republican former director of the state higher education commission says- "I have been surprised by the lack of enthusiasm for what is really a massive workforce development concept that also provides a path to the middle class. You'd think that would hold some appeal for Republicans and Democrats." The lack of clarity and concentration, lack of unity of purpose to get all vaccinated,  is visible in America's vaccination drive. That same lack of clarity and concentration, lack of unity of purpose, is visible in America's faltering efforts at correcting serious and alarming problems for access to college and American competitiveness in the world. Julie Bykowicz and Douglas Belkins wrote this article in the WSJ.   ...

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Joel Peterson describes how he got his start at Trammel Crow, a real estate developer company, seeing an ad on the bulletinn board at school for somebody fluent in French to go and work in the south of France. He says a big part of his relationships with lenders and partners in the business was about trust. He describes trust as coming from listening from the heart, genuinely interested in what people have to say, not some listening techinque. Its also about you as a person, authenticity, openness, being able to see things as they really are, and being direct. Its listening without an agenda, because any sort of frame in the mind means one is thinking about one's response is to what someone said, and one needs to listen fully and process what someone says to listen well. He describes it as being allowed entry in that person's world, which helps to build trust.