LyrArc Article Gist
DW.com report by Mu Ciu shows a CATL(Contemporary Amperex Technology) plant in Arnstadt, Thuringia, in eastern Germany. It will not bridge Germany's technology gap. German and US consultants at the microeconomic level of the company and German and US economists at the macroeconomic level of the economy entirely fail to grasp the effectiveness of China's investment driven model. Of its joint partnering with European and American companies and China's single minded focus on technology access. This is why the DJT US administration has warned Europe that it is failing economically. China's macroeconomic and microeconomic model are run by the same authority by the state, and according to goals and plans (which in a socialist economy is weak at the microeconomic company level lacking the initiative and freedom of action). By combining its macreconomic framework run by the state with a micreconomic company level run by the state but on free market lines the Chinese investment driven model has dual advantages and operates at a speed that far surpasses the German and American model. It's society suffers as a consequence, but in few short decades 1990-2009/2020 this is all it could accomplish with a single focus on modernization for what was once a peasant agricultural economy. Where it lacks is in future technology access and as long as weak companies in the US and Germany partner with Chinese companies the technology access for Chinese companies give it the essential ingredient for its investment model to work, as American and European companies can waver in investment Chinese companies backed by the government will not waver in investment and have the clear advantage. DJT's approach is to give a big shock to the entire system of world trade now run by China, so that this is no longer going to work at the macroeconomic level and legislate huge investment incentives for one time depreciation and other moves to get American companies to invest. It wants Europe to do the same, including getting rid of the bureaucratic structures and regulations. German Chancellor Merz is getting the message and is acting quickly first with the trillion dollar investment plan, the meetings with Draghi and Meloni to get Italy and like minded nations on board, and internal efforts to get rid of regulations and bureaucratic structures, and building a new partnership with India to remove an error of Merkel/ Clinton+ Obama in excessive concentration and dependence on China. This requires a steady hand and steady governments, steady policy, and companies in America, Europe and India to work together for the long haul without wavering or delay, to rebuild the world economy along new lines and on a new path. ...

LyrArc Article Gist
One Big Beautiful Act passed in US Senate with Vance casting tie breaking vote. It renews the tax cuts from DJT's first term in office in 2017 and provides tax cuts to seniors, middle class, and small business. It provides 100% expensing for business to increase investment. Mothers get child care credit that is doubled, senior citizens over 65 years get a $6000 deduction. The seniors deduction means 88% of seniors will now pay no taxes on social security benefits from 64%. Medicaid changes so that able bodied Americans will have to put in 80 hours of work to qualify.  Note that the Medicaid program was becoming unworkable and unsustainable- starting with the idea of helping people unable to work and transitioning those who could work, it jumped to $228 billion cost in 2000 from $28 billion in 1980, ten times over 20 years. Going up to $918 billion in 2024, 4 times the 2000 level. Medicaid is now 62% of what Social Security costs, $918 billion compared to $1480 billion for Social Security. ...

LyrArc Article Gist
Shocking revelation that Forest Service discouraged firefighters from wearing masks that help prevent cancers from toxic smoke. Many firefighters only had bandannas. For several years fires have increased and this was happening with more firefighters doing dangerous work yet this only came up when NYT reporters brought this up recently. The head of Forest Service was summoned to a Congressional oversight hearing and rightly so.  Rep. Jared Huffman of California: “We’ve talked about the New York Times piece. Chief, do you feel like the Forest Service is doing everything that it can to make the safety risk of smoke inhalation known to firefighters?” Mr. Schultz: “We need to continue to focus on safety as we move forward, including this issue.” There are about 40,000 firefighters in Forest Service mostly young men and many more employed by contractors. Because they are first responders also the work of firefighters has 360,000 in the US and 600,000 volunteers. With such sheer numbers masks to prevent inhalation of toxic chemicals that can cause cancer is highly important and should be given high priority.   ...

LyrArc Article Gist
Biden tells the UN General Assembly he has seen the world since coming to the Senate in 1972 age 29. "Sweeping, aspirational, stubborn, defiant" says WSJ, 52 years later president Biden describes what was overcome- A long drawn war in Vietnam ended with America and Vietnam meeting as friends and partners this year showing there is path forward to reconciliation, to peace. Speaking out agains Apartheid in South Africa in the 1980's and seeing the racist regime fall. Peace in the Balkans and how he held Milosevic accountable for war crimes in the 1990's. And Afghanistan becoming longer than the Vietnam War, four presidents did not end it. "Four American presidents had faced that decision, but I was determined not to leave it to the fifth." How he has hope for the Middle East and Ukraine. “I have hope. It always seems impossible until it is done.”  ...

LyrArc Article Gist
About 1.5 million mothers of school age children in March 2021 are missing from the US workforce as mothers are slow to return to the workforce. Both men and women had lower labor force participation, but as men's is rebounding the mothers are still slow to rebound. One mother in Brooklyn, New York, with 3 school age children is typical. She decided to hastily quit work to take care of children at home during 2020 at a stressful time, and has found it difficult to return to work in 2021. It has brought men and women closer to their children but also made it harder to pursue their careers.

LyrArc Article Gist
Remote work and transfer to other locations from San Francisco area mean salary changes of 10-20% for tech workers in Silicon Valley. Most tech workers in companies such as Google are now working remotely. This is leading to companies making plans for a future work force with decentralized staffs in many less costly locations. This should also reduce the pressure on living costs and the quality of life in northern California cities. The cost of living in other cities in the U.S. is 10-25% lower than that in San Francisco, Seattle or New York. Tech companies are following a policy of setting the wage based on location and local costs for housing and other costs.

LyrArc Article Gist
Tony Hayward, a geologist who has headed BP for 3 years has made statemets to the media that erode public confidence in BP. One of these was that the oil spill is not going to cause big problems because the gulf "is a very big ocean." Another referring to lives lost when the oil rig exploded was "I'd like to have my life back."

LyrArc Article Gist
Hedge funds, private equity and other investors are showing interest in providing a $2 billion loan to Puerto Rico at yields approaching 10%. This is almost twice the rate a highly rated city pays in the municipal debt market. Moody's rates Puerto Rico one notch above junk.

LyrArc Article Gist
Amazon Prime has a trailer on King Charles's vision of a revolution for climate change action. The idea is to get a broader audience through streaming. The film title is -Finding Harmony: A King’s Vision.   Kate Winslett tells the story of King Charles and his vision.  It includes new footage of Charles with David Beckham, Meryl Streep. The film has been narrated by Kate Winslet, which was for Winslet “both a pleasure and a privilege” as she is part of the King's Foundation. The King’s Foundation said: “This documentary aims to showcase the importance of harmony to a new audience, and highlight the urgent action needed to help protect our planet, as His Majesty reflects on his life’s work across nature, sustainability and the environment.” The film is based on the King’s 2010 book, Harmony: A New Way of Looking at Our World. “This is a call to revolution. Revolution is a strong word, and I use it deliberately. The many environmental and social problems that now loom large on our horizon cannot be solved by carrying on with the very approach that has caused them. This will involve taking all sorts of dramatic steps to change the way we consider the world and act in it.” “The book is not just trying to raise the points about getting an electric car and some organic carrots. “This is about thinking fundamentally about the relationship we have with the life-support systems that sustain us and everything else and, indeed, the relationships between all of us, and how we organise our society, including our economy, and making points about circularity in our economic system, and how we might be inspired by nature in terms of how we think about resource use and how we look at ideas like economic growth.” ...

LyrArc Article Gist
Biden's ultimate faith in the fairness of the American cause and the American people gets him two big wins with the $280 billion semiconductor bill, and the $369 billion climate change action bill. Biden says about this when many had given up hope- "The work of government can be slow and frustrating, and sometimes even infuriating. Then the hard work of hours, days and months from people who refuse to give up pays off. History is made. Lives are changed." With Europe at war and struggling to get through the winter with gas rationing it was up to America to lead the way as the world faces ever increasing floods, fires and heat waves that affect food supply and environment. And Schumer? The New York Democrat asked about the effort quoted his father who passed away last year. "As my late father said: you need to persist. God will reward you." For months Mr. Manchin a critical vote in the US Senate had opposed the Democrats proposed bills. Then Senators Mark Warner of Virginia, Chris Coons of Delaware, John Hickenlooper of Colorado took a different approach. They did not openly criticize Mr. Manchin, and appealed to his sense of history, his zeal for playing a leading role in a high stakes legislative deal. Schumer and Biden were willing to make some concessions for fossil energy now that with the war in Ukraine the US needed to export LNG to Europe to replace Russian supplies. China and India were still going to be using fossil fuels after COP26 and after the pandemic induced lower growth. The US had to find a different approach some fossil fuel concessions would make it possible to use it as abridge towards the larger goal of getting ahead on renewable energy in a big way. This opened the way for a deal that centrists could support.  ...

LyrArc Article Gist
How wind and renewable energy power works and the efforts to learn how to store it. Winds erratic supply and ways to make it work.