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How travel and tourism including tourists in Spain and Croatia and other spots seeded a second wave of the coronavirus in Europe, and how this poses risks for the U.S. with increased travel. A new variant of the original virus is spreading in Europe and could be spreading in the U.S.

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At the Archway cookie plant in Ohio which closed recently all employees laid off lost their health insurance. A similiar article on Archway in the NYT and the situation in gowing ranks of uninsured.

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France's 3300 Total Energies gas stations cap gas pries at $8.50 a gallon comapred to $4.22 at market rates in the US. Total Energies CEO Pouyanne says the cap is possible so long as the French government does not impose awindfall profits tax on the company. Profits at the company rose to 5.8 billion for hte last quarter up 51%. The cost of the cap is about $580 million so the company is still way ahead and this preempts the possible windfall profits tax which might go even further. At the same time the company gains public respect.

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Few people outside France may know that Charles de Gaulle's son served in the French Navy, served in World War II, and was a naval commander. He also took part in battles in Indochina then a French colony and was promoted to commander of French Atlantic fleet in 1970's. Admiral De Gaulle recalls his father in his books as "cool and distant," and De Gaulle himself told his son that it would never be easy to be the son of a famous father. Even in 2005 Charles De Gaulle was seen in a poll as the leading figure in French history. Napoleon finished 16th, and scientist Louis Pasteur was among  top leading French figures. De Gaulle rescued France again in the post war governments and set up the strong central authority of the President of the Republic in the 1960's, modernized French agriculture, rebuilt its infrastructure, in the post war period. Presidents Pompidou, Giscard d'Estaing and Chirac who followed him were connected to his party and modernized France. ...

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The US economy is growing at a much faster pace than Europe or China in the last quarter of 2021- at 7% annualized growth in the fourth quarter up from 2% in the third quarter, according to Federal Reserve Bank of Atlanta. This compares to 2% in eurozone and 4% in China. Major US ports such as Los Angeles are processing 20% more container volume in 2021 than in 2019, while Rotterdam and Hamburg are almost flat compared to 2019 level. Consumption of durable goods has jumped 45% above 2018 levels in the US, only 2% in eurozone, according to ECB data. The factory gate prices in China are far outpacing the consumer prices in China, suggesting weak domestic demand and strong foreign demand. Lars Jensen, head of network at container ship company A.P. Moller-Maersk says the global supply bottlenecks were started by this surge in US demand with more ships headed for the US taking ships away from other places. The US economy will grow at 6% in 2021 and 4% in 2022, with wages growing 4% a year above the pre-pandemic trend rate, compared with 1% in eurozone, according to Bank for International Settlements. This is pushing inflation up in other countries by pushing up the value of the dollar. In Mexico hitting 7.4% and the central bank raising interest rates 0.5% point to 5.5%. In Russia inflation up to 8.4% and central bank raising interest rates by 1percentage point to 8.5%. The equipment investment in the US is up by 13% this year according to JP Morgan Chase, only 3.6% in eurozone, 0.1% in Japan. All this is creating a large gap between the US and Europe, US and China in economic growth and demand growth, and in income growth. ...

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White House counselor Steve Ricchetti says with the pace and activity and hours at the White House, Biden is outworking people around him. The special counsel Robert Hur's report on Biden's retention of classified documents has part of it on the president not remembering the date his son Beau Biden had died in 2015. The president was furious that special counsel Hur had raised that question, saying it was none of his damn business. The special counsel's report also says Biden had kept a memo in 2013 that he had handwritten and sent to then president Obama outlining his opposition to the surge of troops in Afghanistan. It was something Biden had kept with him as he understood the flaws of the Bush-Obama policies in Afghanistan. Where Republicans and some Democrats have seen a hasty withdrawal  from Afghanistan under Biden the nation sees the need to rededicate its resources to building a strong economy that meets the needs and aspirations of the American people. Even the British Empire in India for 200 years had wisely stayed away from Afghanistan for 200 years. It is the wisdom and experience, the ability to work with colleagues in Congress in the way Lyndon Johnson was able to do to pass his Great Society and Medicare initiatives, that benefits the nation, something that comes with age. It is this wisdom, composure and determination that has created the strongest American economy not seen in decades and a path to an even stronger economy in the future. ...

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The third largest nickel, and second largest copper mineral deposits, are to be found in northeastern Minnesota. Governor Tim Walz has supported environmental studies on the Twin Metals project. Much of these deposits will be needed for supporting demand for renewable energy electric car batteries. Union labor supports the project and sees Walz as an ally. 

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The check to the U.S. government and four other countries of $3 billion by Goldman Sachs is the largest fine ever paid. It ends a yearlong investigation first reported in the WSJ on 1MDB Malaysian fund. It will cost Goldman $5 billion in financial penalties for its dealings with the Malaysian fund 1MDB. The fund was intended for the development of Malaysia and improving the economy for the benefit of the people but ending up being used for other purposes. Prosecutors said it had become a source of funds for government officials, investment bankers. In New York federal court a Goldman subsidiary pleaded guilty to conspiring to violate bribery laws.

An expert on corporate enforcement at Duke University says the agreement with the government is lacking in that the potential fine could have been as high as $5 billion, and lacks monitoring to ensure compliance in the future.