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Demand for lumber is at new highs with the increase in demand for housing. Demand for housing is up because of low interest rates in the U.S. Much of this demand is from people working from home who are less affected by loss of incomes that is affecting construction restaurant, tourism, and industries where work is outdoors or where people interaction is high.

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As U.S. coronavirus cases reached 2 million, a new virus hotspot emerges in Arizona. With the economy reopening attention has shifted to how the economic damage can be reduced and businesses remaining open. Many retail businesses relied on online orders,or in the case of restaurants on takeout orders, now these stores and businesses are gradually reopening with social distancing and other rules.

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The Zwickau plant near Dresden, Germany, is the biggest electric car plant in Europe. German car manufacturers including VW have embraced technological change in electric car manufacturing. In the past this plant made 3 million Trabant cars in the old East Germany or GDR. The Trabants were highly polluting, the new electric cars are a way to tackle climate change and reduce air pollution.

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Taiwan adds new spending of $8.7 billion over 5 years to its military spending to fund acquisition of home developed precision missiles, naval ships, and weapons systems for existing warships. The military budget will grow by 4% to $15.1 billion in 2022. China's PLA air force flew 19 warplanes into Taiwan's air defense zone on Sunday, September 14.

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Cities that drop in the Livability Index of the Economist Intelligence Unit include New Delhi with poor air quality and petty crime slipping 6 places to 117  and Mumbai for culture downgrade by two places to 118. Karachi is at 136 place and Dhaka is the third lowest with weak infrastructure. Melbourne, Australia and Vienna, Austria are the top 2 places.

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Germany and France agree to take some of the smaller trickle of migrants coming to Italy to help the new Italian government, which is under pressure from Mr. Salvini's party for taking in too many migrants. The idea is to defuse the migration issue roiling Italy and other countries. Other efforts are to reduce migrants from leaving their home countries.

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UK cabinet ministers say Boris Johnson will risk the Queen firing him if a new unity candidate is found who commanded support in parliament. This report in The Times says Boris Johnson is prepared to squat in 10 Downing Street if the European Union rejects his proposals on replacing the Irish backstop, and parliament passes a vote of no confidence in his minority government.

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There is one problem with the bull market in U.S. stocks in 2018. Most Americans are not part of it. Research by Prof. Edward Wolff of New York University, shows 84% of stock market wealth is controlled by the top 10% of Americans. This was 81% in 2007. This widens the gap between the wealthy and the rest increasing disparities and reducing social cohesion.

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Th Basel Committee on Banking Supervision set strict financial guidelines for capital and liquidity that banks have to hold, but failed to implement early compliance. Banks get 8 years to comply for most of the banks, and 13 years for some of the banks. Increasing capital requirements by triple the current levels in the form of current equity, as required by the new Basel rules, gives banks a larger buffer in a situation that some of their assets lose value in a crisis such as the one in 2008. The US argued for stronger requirements and early implementation. Germany held back the implementation timetable mainly because its regional banks are saddled with bad loans; which might require $100 billon capital infusion by the German government, if early compliance was set in the new rules. The result is that the Basel rules have not grasped the opportunity to act quickly to strengthen the banking system, according to Prof. Jeremy Stein of Harvard University, a former advisor to the U.S. Treasury Department. In Stein's view the timetable is so far out, that another crisis will probably take place before the implementation. In the event, regulators from the U.S., Germany, and other countries let fears of tightened lending by banks prevail to an extent where the new rules timetable is stretched way out for 8-13 years....

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This editorial in the Economist says Spain's economy has recovered to pre crisis levels by 2018 with growth at 3 percent. It says Spain had a bigger crisis than Italy and took stronger measures under prime minister Rajoy to fix problems in its banking system, address the housing crisis, and unemployment. Italy's steps by comparison were timid and faltering. Mr. Rajoy had his problems including corruption scandals in his party and a poor handling of the Catalan drive for independence. Yet Spain owes muchas gracias to Rajoy for his leadership in bringing Spain out of the housing and economic crisis, and for running the country for two and a half years after losing his majority in parliament.  Another difference with Italy is the generally favorable attitude to immigration for all parties. Of the newer parties Ciudadanos remains at the centre and the Podemos party remains to the left in politics, as part of the populist changes in Spain during the economic crisis. The new government of Pedro Sanchez has a positive attitude to immigrants and to women, with the largest number of women in the cabinet of any European country. ...

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This defines resilience of spirit - the ability to be creative and active in hard times, to see the positive in difficulties, and act with patience and determination. It is this spirit that is needed to take on new adventures and build new things and is how scientists have advanced work that led to the Modern World.

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How Toyota lost touch with the customer, as Yoshimi Inaba says. Here Nathalie Guiraudet, of Bethlehem, N.H., talks about her dismay when she heard Toyota was making the new Tundra much bigger. She says it could haul plenty of hay for her horse Kismet, had fuel economy that was acceptable and was easy to back up. Says Christopher Jensen of NYT Toyota was too engrossed in its plans for galactic predominance that it was not going to listen. It wanted to match the Ford F-150 and chase the profits that Ford was making on that truck. Toyota lost it somehwhere in this drive for becoming the largest company. And Nathalie? She bought a 2006 Tundra, the smaller Tundra.

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New five year broadcasting deals for the Indian Premier League that will bring in 5 billion pounds over five years. With 74 matches this comes to 14 million pounds per match, a record for world cricket and bigger than soccer. Disney's Star network gets television rights, TV18 and Paramount venture gets the digital rights. Much of this revenue will be used by India's cricket organization Board of Control for Cricket in India to build infrastructure and improve the experience of fans, spruce up facilities.

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Office buildings are being turned into apartments in large American cities like this one at 55 Broad Street in New York City. Hybrid work has made the huge office space of daily commuters obsolete. Subways and transport is also used at a fraction of its capacity. The remote working trend is sending vacancies soaring in office markets in the US and in the big cities. Businesses using hybrid work are leasing less space and migrating to newer buildings with modern designs, good locations, outdoorsy feeling, and abundant amenities.

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NYT reporters show China is continuing to crack down on what it sees as companies that break the law. This adds to risks of companies operating in China leading to companies not adding to investments in China and looking at options of manufacturing or doing business in other friendly locations such as India and Vietnam for manufacturing. New deals are also being done with South Korea, Japan instead of China as China's surveillance of business grows and risks increase of operating in China.

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WSJ says GM straddles the past and the future. GM's plans to invest $11-13 billion each year for new electric vehicles. GM also plant to cut costs by $2 billion to maintain profit margins as car prices drop from higher levels. GM US largest automaker profit in 2022 kept up the pace of 2021 by remaining at over $14 billion. As car sales decline in 2023 GM plans to offer sales incentives and make up for this by cutting costs in corporate and other overhead.

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Things may not turn out the way polls show is the subject of this editorial in the WSJ. Prospects of some Republican candidates for the Senate in Arizona and Missouri are not what they appeared before. The division among Republicans about the legitimate votes in the 2022 presidential election as an issue in the midterms is leading to a fragmented election effort. The Inflation Reduction Act of 2021 shows Democrats responding to the issue of inflation and climate change, leading to new questions about Republicans in the rest of 2022.

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The shutoff in Russian gas is resulting in additional efforts to increase solar energy in Germany. In 2020 Germany had 10% of its energy come from solar. July 2022 was the third month in a row that solar energy output was at record levels. Photovoltaic systems generated about a fifth of net electricity production. Installed solar power capacity is now at 59 gigawatts in Germany. For 2032 the target is around 250 gigawatts of solar energy, about 4 times what it is now.

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Clearing parking lots for housing and office space in Buffalo and other cities. Local governments are erasing decades old minimum parking rules. Parking lots and garages that are increasingly unused in cities after the pandemic are being demolished as shown in this report in WSJ. Major retailers are leasing unused spaces for new development. This creates more space for people to live in. Urban planners say this reduces housing cost by adding more land availability, holds down rents, revitalizes cities following the pandemic, and mitigates a housing shortage.

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There is a big jump in working parents taking parental leave after new legislation is passed in different states. In the 12 months through February 2022 406,000 working parents were taking parental leave, a 13% jump from 2021. The share of workers with access to paid parental leave was 25% in 2022 compared to 19% in 2019. Seven states now require employers to provide parental leave. Four more states may join by 2026. The US still remains the only major advanced economy without nationally mandated parental leave.

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The cooperation between France and Italy helped persuade Germany to move forward with massive aid to the EU countries during the pandemic. Scholz, the new SPD chancellor of Germany sees the European Union with more voices from southern Europe, from France, Italy, Spain, Portugal and Greece as a good thing. Northern European countries are also moving in a different direction with Social Democrats governments elected in Denmark and Sweden, working on policies to reduce inequality, bring together different sections of society in a shared future, and the dignity of human beings.

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France's Macron introduces a three step plan for reopenings after lockdown, with dates of December 15 and January 20 for reopening the economy. Shops will be allowed to open under strict social distancing rules for Christmas sales. If cases per day drops below 5000 the government will lift the lockdown on Dec. 15 and replace it with a 9 pm curfew. " After saying that spirits can be low, debates get heated, Macron said "we need to do everything to prevent a third wave, a third lockdown."

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Vaccine passports play an important role in tackling the pandemic. France and other countries in Europe have increased the percentage of people getting vaccinations by requiring EU vaccine digital certificate for entry into pubic transportation, restaurants and large events. Vaccine digital certificate helps reduce the the need for lockdowns. Us president Biden has also moved in this direction with the new vaccine mandate in the US requiring all federal government employees and employees of companies with more than 100 workers to get vaccinated and show digital proof of vaccination.

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The Atlantic evolving with the times. Not just a shift to revenue making journalism with $100 million in subscription and advertising, in addition coverage in depth dropping breaking news coverage entirely. A digital subscription that cost $50 now costs $80. The depth is indepth-indepth meaning taking it to even more than indepth an whole issue dedicated to one topic. The theme of democracy, the US Constitution and other similar topics are taken on in a new way, and open to different points of view. 

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Action to tackle the cost of living crisis taken by G-7 countries France, Germany, Italy, Canada, US, is shown here in The Guardian. France and Germany have taken the strongest action to protect lower income people, the US with the Inflation Reduction Act has taken broad steps to limit healthcare costs and invest in the economy. The UK appears to be the weakest in taking action and the new budget of Mr. Kwarteng is seen in this way as failing to protect vulnerable parts of the population.