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France's central bank chief Christian Noyer, says public spending to create jobs has the drawback of creating yesterday's jobs, but lasting job creation has to look at today and the future for effective job creation. Once government spending crosses a certain level, about 55% of GDP, a level France has crossed, further spending becomes counterproductive, reducing public confidence in the economy, as higher future taxes are anticipated canceling any benefits.

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This opinion in the Hindusthan Times points out that prime minister Modi's speech at Kozhikode following a militant attack in Kashmir in September 2016, reflects a long standing policy since the late 1970's of Congress party and BJP or Janata party administrations. The idea is to encourage cross border exchanges to reduce tensions. The emphasis in back channel talks between India and Pakistan also emphasize the idea of CBM, cross border movement. The prime minister of Pakistan, Nawaz Sharif, has also expressed in the past the importance of cross border movement and trade as ways to improve the economies of both countries. The idea of building up trade and increased exchanges between the two countries is supported also by the U.S. and other western countries. The example of Ireland and Northern Ireland where trade and cross border exchanges are considered important by all parties after Brexit, is an example of how important this is.

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Jon Gertner makes several critical points about the importance of supporting and investing in manufacturing. The U.S. private sector in new industries such as alternative energy, and electric cars is competing not just with the private sector in Germany, S. Korea or Japan. It is competing with the governments of these countries which are investing heavily to build innovation and jobs in their home countries. Innovation, design and manufacturing are woven together in these new industries in a manner that is different from the iPhone/ iPad/ Search algorithms /Facebook software type industries dominated by names such as Apple, Google and Facebook. The software industries are the opposite of jobs intensive industries with Facebook having 2000 employees and Google having 29,000 employees. By comparison the lithium battery industry could generate over 62,000 jobs in the next 10 years, and the electric car industry as a whole with its supplier networks could generate much larger numbers of jobs. Because of the advanced technology involved these are good well paying jobs. The finance industry in the U.S. is attracted to the quick returns in the software related fields, leaving a gap for the American government to fill a role nurturing these industries. This would be similiar to the manner that the German and Japanese governments do working with their own private sector. The private sector in the U.S. needs only the early nurturing and can operate on its own by innovating its way to competitiveness in manufacturing and cost after the early years. Because of missteps in failing to support manufacturing in the U.S., the U.S. may have to import some of the technology from countries such as Japan and S.Korea to make up for these missteps. This is happening in the lithium ion battery manufacturing technology and facilities, which experts say is being successfully imported from these countries to the U.S.. The Obama administration has provided $2.5 billion dollars from the stimulus investments to support projects of 30 companies operating in the advanced battery technology field. This includes companies such as A123 Systems and LG Chem Power in Michigan. As a result of these efforts the Department of Energy estimates that by 2015 the U.S. will have the capacity to manufacture 40% of the world production of lithium batteries for the autombile industry. In 2009 the U.S. had capacity to manufacture 2% of the batteries....

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A sharp increase in imports leads to a growing trade deficit affecting the outlook for the Pakistan rupee. The central bank allowed the currency to devalue by 3% in the last week. The IMF has called for a weaker Pakistan rupee to narrow the trade deficit. The Pakistan rupee stands at about 109 rupees to 1 U.S. dollar, according to Thomson Reuters data. Experts say it is overvalued by about 25%. Pakistan gets about $20 billion in remittances from overseas for 2016, about 7% of GDP, and the central bank has now reversed an earlier policy of intervening in currency markets to prop up the rupee. A lower value for the rupee is now seen as good for economic growth.

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The skills to navigate different personalities and work patiently on the issues surrounding changes to the U.S. tax system of Rep. Dave Camp (MI), chairman of the U.S House of Representatives Ways and Means Committee, will be immensely useful in the effort to make changes to the U.S. tax system. Camp works well with fellow House Republican leaders Boehner, Ryan, Cantor, and his Democratic counterpart in the U.S. Senate Max Baucus. Camp is a good listener, refuses to engage in partisan criticism, and has the patience to work through difficult issues of achieving savings and keeping fairness in the the tax changes. Earlier efforts to achieve consensus in late 2011 failed, making it even more important to have leadership which can create productive debate and bridge the differences. The tax changes are part of the overall effort for U.S. economic recovery by reducing the deficit.

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The concentration of particles less than 2.5 microns in diameter reached 700- 886 micrograms per square meter in Beijing in Jan 2013, 500 is routine. The World Health Organization says a level of 25 micrograms per square meter is safe, above 300 poses risks calling for one to stay indoors. This is the high cost of rapid motorization of China and lack of strict pollution control laws and enforcement for industry. The pace of car sales in the last ten years was extremely fast and unprecedented in comparison to Europe, the U.S. and Japan in a similiar period of development.

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The unnerving and distracting effect of a long IPO process and investor demands on two co-founders of Box Inc., as competiton and market perceptions change for a once promising tech startup in cloud computing.

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President Obama ordered the surge in 2010 for 30,000 additional troops in Afghanistan. There are now 150,000 NATO troops in Afghanistan. Of these two thirds are Americans. The goal of the surge was set by President Obama as " disrupting, dismantling, and defeating al Quaeda and its extremist allies" in Afghanistan. Yet the fact remains that official estimates on the coallition side are for only about 100 or so al Quaeda militants operating in Afghanistan. The war in Afghanistan is being fought with Taliban insurgents in Afghanistan who also live in the mountainous region that comprises Pakistan and Afghanistan, and has some form of clandestine support from sections of the Pakistani military and intelligence services- the Pakistani military having played a critical role in the formation of the Taliban from its inception to act as Pakistan's proxy in that region. With the democracy protests in the Arab world in 2011, al Quaeda does not fit into the existing mood in the Middle East and the Muslim world. Considering these facts- and the mood favoring American disengagement on the part of America's allies in the Afghan government and Pakistan's military, and the American public mood favoring disengagement, the Taliban seeing their conflict as purely domestic and little to do with al Quaeda- the situation is likely to move in the direction of phased American withdrawal. ...

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Eisinger says the Federal Reserve's staff plays an important role in regulatory reform. He quotes Cornell law professor, Robert Hockett, who says the general counsels tend to become more conservative over time and inclined to support the status quo. This makes required regulatory changes such as increasing the capital reserves at banks and reducing leverage more difficult. Eisinger describes the position of the U.S. Federal Reserve's general counsel, Scott Alvarez, on disclosure of lending by the Fed during the banking crisis, and on capital reserves, which veered more to the position of the banks which preferred less information be released and capital reserves be left at the 5% level than the 6% proposed by the FDIC and the Office of the Comptroller of the Currency. Comments by Alvarez in nonpublic hearings to Congressional staff members on May 18, 2012, about the JP Morgan London Whale trading losses, according to Eisinger, shows lack of awareness of the overall implications of the breakdown in financial controls and supervision inside the bank....

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So far Covax Africa is proving to be a failure. Consider the numbers 1 billion people only 31 million vaccines given. Another wave of the virus is underway with 130% rise in cases in Uganda, increase taking place in DRC, Namibia. About 30% increase in cases for all of Africa this week. The new Delta variant that is twice as contagious as the original virus is widespread in the UK and is an unacceptable risk in Africa and in Europe and the US.


 By comparison India has 1.2 billion people and 230 million people vaccinated with at least one dose.

US has 330 million people and has adminstered 300 million doses. UK and Brazil have each adminstered over 70 million doses.

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In China since 1981 the poorest people making below $1.25 a day fell to 207 million in 2005 from 835 million in 1981. In India the number of people below $1.25 a day increased to 455 million in 2005 from 420 million people in 1981. The share of the people in poverty fell to 42 percent from 60 percent during the same period. Corresponding figures for East Asia including China show a drop from 80% of the people in poverty in 1981 dropping to 18% in 2005. The proportion of people living below the $1.25 a day poverty line worldwide fell over the nerarly 25 year period from 1981 to 2005 from 52% in 1981 to 26% in 2005. In subSaharan Africa, now the poorest region half or 50% of the people live under the poverty line of $1.25 a day in 2005 almost where it was in 1981. In absolute numbers the region had 380 million people living below the poverty line in 2005 compared to 200 million people in 1981. Note that the World Bank this year changed the poverty line from $1 to $1.25 a day, to make allowance for the inflation that is hitting the poorer countries. Is China a rich nation after the Olympics? Some parts of China, the coastal regions and the regions around big cities like Shanghai and Beijing are relatively affluent with pockets of poorer people but in the rest of the country there is poverty as defined perhaps in terms of deep poverty, poverty, poor middle class without health insurance or any kind of savings for emergencies. With 200 million people in 2005 below the poverty line a question could be asked how many people in China below say $2.00 a day which could be seen as being poor at a time when inflation in food and fuel costs has been significant in developing countries. If its somewhere in the range of 300 and 400 million people in China this explains why in relative terms China would identify with India and the rest of the developing countries and it also explains its stand in the WTO trade talks acting as a developing country protecting the rights of agriculture and farmers within China. And it also explains the reasons why China sees a long transition before it ceases to be a poor developing country and why there is real concern that these 300-400 million people as well as others adversely affected by the rapid industrialization and exercize of state authority, corruption and increasing gaps between rich and poor, adverse effects on environment, that these people adversely affected are listened to and accomodated in the interests of stable progress and fairness. Much of recent history has shown that countries open to foreign trade have done better given the right conditions and careful policy measures. China opened up around 1981, and India around 1991. Also progress and gains are more significant in infrastructure building and in poverty reduction in the latter phases of development as the synergies increase, capital pool increases, and the development accelerates, this shows why China's gains look significant compared to India's at this point in time. In ten years or fifteen years a better assessment could be made and then some points may favor China and some India, and the results will be a result of different history, experiences and problems faced and routes taken because of prior developments in each region and varying complexity. ...

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Pakistan prime minister Imran Khan visits the White House to meet president Trump. Mr. Trump welcomes Khan and lauds the Pakistani leader as an athlete and a leader. He tells him trade deals can be struck, future was bright and flow of aid can be turned on. Trump makes a casual offer to help mediate the dispute between India and Pakistan over Kashmir, even though it is certain that nothing comes out of this, because of India's position not welcoming other countries doing any mediation. At the heart of this reconciliation is Afghanistan and president Trump's conviction that Pakistan can get the U.S. out of Afghanistan. Trump stated this- "I think Pakistan is going to help us out, to extricate ourselves. Pakistan is going to make a difference." The idea is that Pakistan can persuade the militants, the Taliban, into a face saving settlement that will allow American troops to come home. Mr. Khan in turn stated that Pakistan had given up its policy of using Afghanistan to give it "strategic depth" against India. The army would not go behind the back of the civilian government to conduct a policy of its own. Mr. Pompeo and Mr. Trump are impatient to get this done. The deadline of Mr. Pompeo is September 1 and talks continue between the Taliban and representatives from Afghanistan. The U.S. effort is handled by Zalmay Khalizad. How Afghanistan is governed in the future is not determined and Pakistan has a key role to play in making a sensible solution take place if it decides that something new has to be tried.  In the past U.S. governments from both parties lacked the ability to take a good hard look at the facts the origin and evolution of this dispute. To tackle it directly with a willingness not only to call it for what it is but also to give the other side an incentive to try new solutions. The inventive style of the Trump administration to tackle the situation directly, but also come up with new and novel solutions is what is now being tried. ...

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You think you just fell out of a coconut tree?”  Harris mother told her when she was growing up. Vice President Kamala Harris said last year with a sense of humor and even a folksy philosophical sense. “You exist in the context of all in which you live and what came before you.” The way Kamala said or its deeper meaning has set this off for a thousand memes on the internet for Kamala fans. KHive refers to 2 groups of fans the earlier ones many of them women  when she was senator, and the later ones who learned about her passion for the issues relating to a better life for workers and families across these 51 states. Now there is a Kamala fervor on the internet. Harris campaign is also working itself into this fervor instinctively. Though no one may realize this not even Kamala herself there is a sense of Gandhi in this. Her grandfather and mentor was a civil servant who was raised in the Gandhian tradition of public service unmatched anywhere in the world for its dedication and determination for knowledge and for freedom. ...

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Readers critique the Wash. Post on its coverage of 2024, 2024-2028 policies and vision, and president Biden. They ask is the Post itself turning into social media with crass titles and misleading coverage? The Post itself says it is in the subtitle sometimes patting sometimes stabbing. One reader says on the different reporters coverage of Biden after the NATO Summit that it was nothing more than a dogpile, that it is not what he reads the Post for. One obvious question for the Post is with all the passion you show on climate change action, is the absence of climate action for 4 years, and exactly the opposite its exacerbation not likely to impose a huge cost in 2028 for the American people of upwards of a trillion dollars to correct? Is the Post listening or just another billionaire run organization running against the instincts of Carl Sandburg- the author of the Lincoln biographies found even in the libraries of Asia forgotten in the US-  who wrote the famous poem of the nineteen sixties "The People, Yes." Lincoln, TR, Wilson, FDR, Truman, Kennedy are completely erased or forgotten for their policies, their wisdom and their zeal for America. ...

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The poor air quality in Beijing and other Chinese cities especially for children is at a point where many middle class Chinese want to emigrate. This is making Beijing, Shanghai and other cities less desirable for foreign nationals.

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William Daley, the head of Washington lobbying for JPMorgan Chase, is appointed Chief of Staff to President Obama. He also serves on the board of directors of Boeing and Abbott Labs, companies which a strong interest in Washington lobbying. William Daley is with Chase since 2004, and was hired primarily to strengthen Chase's Chicago connections. In the past he has served as the main liasion with the White House. In 2007 he joined the bank's senior leadership as head of its new Office of Corporate Social Responsibility, which oversees the company's global lobbying efforts.

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EIA figures show U.S. stockpiles of crude oil, refined fuels and other petroleum products increasing to 1.149 billion barrels in the week ending Jan 2, 2015, excluding the strategic petroleum reserve. This is the highest ever since 1990, except for June 2013. Brent crude drops below $50 a barrel.

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Ed Wallace is very much on target when he says the esteem and loyalty has faded with the new generation replacing the older generations in the U.S. automobile market. The two generations have completely different perceptions of GM and Ford. He gives the background and paints the picture of their world, the perceptions and feeling of the older generations loyal to Detroit cars. His conclusion that this is gone forever may not be entirely true, as nostalgia cars or cars which go back to an earlier era may still have customer appeal. The perceptions also vary across regions, and is true for the west and south and other parts of America which have a higher proportion of foreign brands.