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NYT provides a first hand look at how problems with lack of construction company oversight led to extensive damage to buildings in the Turkey earthquake. 

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The NYT says many of India's largest and most profitable companies are "relative models of probity," and several ranking among the world's best governed companies including companies in the software and pharmaceutical sectors. Large parts of the Indian economy have little appetite for the risk taken on by the Adani Group and are run on a financially conservative basis. Infrastructure is unique for this kind of risk taking because of decades of neglect of Indian infrastructure during the 1995-2015 period, when China was rapidly building infrastructure with large investments and India fell behind. It is that catchup mode that induced Adani Group's aggressive efforts taking on debt for outsize goals that it was willing to adopt for coal, solar and port logistics. As a result the Indian economy with companies such as Infosys and Dr. Reddy's Labs says the NYT, is largely not affected by the problems of the Adani group's debt structure.    ...

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Meeting in person takes mental energy, yet it is essential to restore our connection to each other. Simply relying on social media or messages is easy but a losing proposition and simply increases the human need for meeting people in person. It takes a lot more work to meet in person, but it is more energizing and fulfills a human need to see people.

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The largest ever drawdown of oil reserves is shown in this video report in WSJ- Biden has released 180 million barrels of the oil reserves from 400 million barrels in reserves. This has reduced the sharp surge in oil prices as Russia restricts supplies of oil and western sanctions are tightened on Russian oil.

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The war to control Kherson is only weeks away. The town of Beryslav upstream on the Dnipro river is the next target for Ukrainian forces. This would lead to Kherson. Russian forces are withdrawing from the west side of the Dnipro river in Kherson and may decide to withdraw. If they stay in Kherson Ukraine may simply cut supply routes to the city and wait to avoid losses in winter fighting in muddy terrain.

Kherson is important to Ukraine because of the Dnipro river that runs through the heart of Ukraine. This is the only capital of a region that fell early to the Russian invasion forces. It is also important for control of the Black Sea region, Ukraine's only opening to the sea for trade and economic activity. It is important to remove any threats to Odessa, a major port for Ukrainian grain exports.

 

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The housing downturn as a result of sharply higher interest rates as the Fed's Jay Powell takes on surging inflation is very different from the problems of bank's shoddy mortgages of 2008. The 2008 financial crisis was a banking crisis from overleveraging by US banks and the use of questionable mortgages in housing. The rules set down and strict regulation since 2008 protect the housing market from the errors of 2008.

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The new excitement of scenic train travel. The Manhattan New York to Burlington, Vermont, on Amtrak's Ethan Allen Express takes you through the Hudson River Valley and to the shores of Lake Champlain with its fresh mountain air away from the hustle and bustle of New York City. It is an 8 hour ride to this lively university town in the north country near Canada. "I like to see it lap the Miles/ And lick the Valleys Up/And then around a Pile of Mountains," says Emily Dickinson of train rides even in a period of steam engine driven trains. Today's trains with glass around you are even better for the view of Nature.

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GST revenue increase is important because it finances healthcare, education, infrastructure building, jal ghar and cooking gas, Digital India initiatives, housing programs in a way that has never happened before and is needed for modernizing the Indian economy. The same approach is being taken by president Biden in the US to finance his climate and tax bill of $369 billion. It is the biggest climate action bill in history and revenues to finance renewable energy transition are coming from a 15% minimum corporate tax that is being agreed to by all countries in the world including US, Britain, European Union and India. Just today the WSJ the largest biotech company Amgen in the US paid 3.5% effective tax rate on revenues for 2013 when tax rate under federal law was 35%, and the IRS is working on getting $10.7 billion back in payments due over a decade. Much of Amgen's profits of $24 billion had been shifted to a location in Puerto Rico says a report in WSJ. The development work of the free world countries including US, EU, and India cannot happen without this. Without this the US, EU and India cannot even remain competitive with China or tackle national security threats. ...

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Of ten countries from which India gets oil Russia is at No.9 just before Brazil at No.10, a is shown in this Reality Check on BBC News. India gets only less than 2% of its oil from Russia. Most of it comes from Iraq, Saudi Arabia and Middle East countries. In January and February India did not import oil from Russia and in March oil was imported at about 30% discount. By comparison Europe still gets 15% of its oil from Russia and this is not likely to change in the next couple of months says S. Jaishankar, India's Foreign Minister.

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This video in The Indian Express shows how president Biden invoking US defense act provisions to ensure supplies of vaccine ingredients to US companies prevents exports to countries that badly need it. India has surpassed 300,000 daily cases of coronavirus on April 22, and India's largest vaccine manufacturer Serum Institute of India says vaccine manufacturing in India is restricted because of president Biden invoking that law. 

India's vaccination drive is stalling because of not enough vaccine supplies.

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The importance of opening doors, windows, to let in fresh air is emphasized as a coronavirus protection effort. This is particularly important in reopening schools and colleges.

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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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Cheap abundant coal supplies support the Australian lifestyle and standard of living. Australia is a big exporter of coal. Here prime minister Morrison is shown with coal in his hand in parliament lauding its benefits to the Australian economy as a source of its wealth. Only now with floods, drought and fires is the real cost of coal becoming apparent to Australians. In elections in 2021 Mr. Albanese of Labour party replaced Mr. Morrison and promised changes. Mining interests and jobs influence key swing constituencies in elections leading to the impasse on climate change action. As one of the windiest and sunniest places in the planet Australia says the OECD is in a position to play a large role in renewable energy. This suggests that policy so far has been shortsighted. Worse it may have fueled the rise of temperature on the planet by providing cheap coal for China to grow at rates close to 12% for decades.

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Turkey faces a economic crisis driven by high inflation and sharp decline of over 40% in the lira. The ENAgrup research group estimates inflation at 58% in November over the prior year, higher than the 22% official figures. ENAGrup estimates 50% inflation in October and 45% inflation in September. The steep inflation say experts is a result of an unconventional policy of president Erdogan to lower interest rates by 2%. In contrast the Russian central bank increased interest rates by about 3%, Brazil's central bank by about 6%. This report looks at two weak links for the lira and inflation prospects with graphs.  One is that the debt of Turkish banks is heavily in foreign currency debt with $82 billion due in next 12 months. A weak lira makes it harder to pay off these debts. Turkey's central bank net foreign assets taking into account all foreign currency liabilities is a negative $48 billion in Oct 2021, according to graphs shown in WSJ. The second is that Turkey's people are fleeing the lira. Nearly 60% of banking deposits are now in foreign currencies, according to data from Capital Economics. A sudden surge in requests to withdraw dollars by Turkish residents could make banks to draw down their foreign currency reserves. The government hopes that increase in exports could help Turkey in the crisis yet the situation today as shown by WSJ suggests a continuation of the current crisis of spiraling inflation and large drops in the lira's value. ...

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The WSJ looks at the UAW's wage demands for 8% a year over 4 years, a shorter work week, defined benefit pensions, and equal status for new workers. The auto companies are seeking the flexibility they need to price cars at levels that are competitive with overseas competition. 

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Ms. Claire Goldin, labor economist, wins the Nobel Prize Economics for her work on gender gaps. Claire Miller of NYT looks at the research done by Goldin that shows how women starting out from way behind in education, work and professions have caught up in education and are working in different careers and not letting marraige affect their work. Women Goldin says are now not having the same pay and opportunity only because they cannot work long and inflexible hours men do.Goldin points out that the 1940's period of women growing up missed out on opportunities but generations after that and after 1960 have pursued opportunities that were opening up with time saving appliances at home, Roe vs Wade, and Equal Pay legislation. 

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How to manage relationships as you get older. What makes for energizing connectedness feeling in relationships and when do relationships wither. Different aspects of managing this social connectedness that we all need for good mental health are discussed by Francine Russo in WSJ.

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Biden's vision for America is genuine and it works, in resources put to the task and in manufacturing, in technologies, in infrastructure that rebuilds America, says Brooks in NYT.  Biden has to frame his own narrative, tell America's 21st century story, says David Brooks in the NYT. To do this he has to get out of the protective walls that have been built around him, and make himself the center of the nation's attention. Because the media is too fractured and the nation too fractured to grasp that it is possible after four failed administrations- Clinton, Bush, Obama and Trump's.

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The fight against cancer cannot be done only on the finding a cure,  it is also about returning to the time when ingredients such as titanium dioxide and others were not added to food and when people did not consume processed foods. This report says the FDA spokesperson says contact the manufacturer. After the EU has banned titanium dioxide for causing the inflammation that causes cancer, the FDA should have banned it. See the recent article in The Washington Post on the microplastics that release nanoparticles that cause cancer. The culture in the US has developed a tolerance for behaviours and actions that harm the health and mental health of the American people making it necessary to change this so that microplastics and ingredients such as titanium dioxide are removed from the widespread use that is happening.