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US economic growth surged at a rate of 6.5% for the April to June period in 2021. This pushes the economy beyond its pre-pandemic size. Growth was lower than the 8.4% forecast of economists, yet strong enough to increase its size to exceed the pre pandemic level. It was powered by the business reopenings, vaccination drive, and the government infusion of pandemic aid to households and business. New restrictions after this summer for coronavirus following last year's pattern with extensive summer tourism and spread of coronavirus, could again slow the economy. Government infusions of aid aided consumer spending, and this could slow in the months ahead, and lockdown restrictions could limit growth.

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One of the failures of presidents who preceded Mr. Biden, was to let the revolving door policy of letting private sector executives to join government and set rules that favored the companies they had connections with. This made it harder to tackle the problems of the 2009 global financial crisis triggered by corporate overleveraging and shoddy mortgages. It also left workers and families unprotected, failed to invest in rebuilding American infrastructure, and did not do enough for the middle class. The result was a recovery that failed workers and families- a challenge left for Mr. Biden to tackle and requiring vigilance to avoid missteps such as this one of letting banks and  large corporations write the rules they must follow.

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Presley says the Governor's election is not about right vs. left, not Democrat vs Republican, just those of us on the outside vs those in the inside. NYT covers Brandon Presley's effort to win the Governor's race in a Deep Southern state Mississippi. He plans expansion of Medicaid in a state with alarming health conditions. He hopes to revive rural hospitals. He approved raises for public school teachers of $5100 a year. He is conservative on social and cultural issues. In 2001 at age 24 he was elected mayor of a small town Nettleton with 1900 people in northeastern Mississippi. He was elected four times to represent northern Mississippi on the Public Services Commission.

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The monopoly over news publishing in the UK began in 1981 with the purchase of loss making The Times through negotiations with the trade unions.  As shown in The Guardian Rupert Murdoch met with Margaret Thatcher on Jan 3 1981 weeks before the matter was brought up by Thatcher at a cabinet meeting so that it would not be referred to the Monopolies and Mergers Commission. This is revealed in the Thatcher papers held at the Churchill archives in Cambridge 30 years after the event in 2012. This was the year Ronald Reagan's administration replaced Jimmy Carter's administration in 1981. In 2022 Tories Secretary Nadine Torries removed controls that protected the editorial independence of The Times. 

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Spirit Airlines, a no frills airline in the US, files for bankruptcy. It lost $2.2 billion since 2020, almost all the profit made since 2006. It was the result of a lot of things happening at once, problems with Pratt and Whitney engines grounding planes, failed $2.9 billion merger with Frontier another no frill airline, when Jet Blue made a $3.9 billion offer that had less chance to get by antitrust concerns. The 2020-2024 period was one in which people scrambled to travel and the bigger airlines Delta, United, Southwest were in a better position with their international networks, frequent flyer program and credit cards, and more routes and planes to capitalize on this leaving Spirit behind.

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Plan B is to reimpose the tariffs using the Section 122 of the 1974 Trade Act and Section 301 which puts the tariffs on firm legal footing. In fact the ruling by the ITC Court on the use of emergency powers under IEEPA law said there was already Section 122 on the basis of which serious trade imbalances could be addressed. Trade Adviser Navarro told Bloomberg that this was a possible strategy to reimpose the tariffs. The federal appeals court has allowed the tariffs to remain in place after the ITC ruling. The administration is appealing it to the US Supreme Court saying that the ITC ruling has unfairly jeopardized the president's negotiations with other countries. 

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Yuen Yuen Ang presents the view that China is an autocracy with democracy characteristics. Her view of Xi is conventional reflecting contemporary ideas. Yet Xi was profoundly influenced by his father Xi Zhongxun and mother Qi Xin, revolutionary heroes in the fight against the British, Japanese and Chiang Nationalists which shape his view of the world. Zhongxun also shaped the response to the struggle for modernization after failures of the Maoist period, in efforts he made under Deng. In this sense he adapted to different conditions. This view of China's leaders is that they are intuitive and human, that China is simply responding intuitively under Xi to the conditions it faces and perceptions about these conditions to maintain the wellbeing of the vast majority of the Chinese people after the century of struggles 1850-1950 and later missteps. The experiment with capitalism and a new generation with no memories of the past meant to Xi and other Chinese leaders that everything that an earlier generation (his own parents) had fought for in the struggle against the British and Japanese invasions could be lost quickly, if China was allowed to fall into the kind of corruption and self-seeking leaders that marked the Chiang regime of the 1930's. This led to the effort to consolidate the gains of the Chinese nation made over 2 centuries since the rise of the British in Asia in 1800, with Xi seeing no choice but to take responsibility and the initiative as his father Zhongxun had done in the 1930's and 1940's to breakout of isolated regions in the north of China. The sudden shift to adapt to open covid policy is also apparent from Zhongxun's ability to adapt to and lead the changes after Deng's experiment with a market economy. A report by Rohan Premkumar in the Hindu on Jan 25 on a British sub-jail in the Nilgiri hills of Tamilnadu shows prisoners from the Opium wars with China sent to this jail by the British. These events still shape Chinese perceptions of the world- the backwardness in faceoffs with the west and the cost to the mainland Asian nations India and China. Inland river based civilizations on the Ganges and the Yangtze that failed, as Adam Smith says in The Wealth of Nations, to change in ways that the Renaissance  and the Industrial Revolution changed Europe. ...

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Baker and Erlanger describe Russian president Putin's effort to finance parties on the right and the left to oppose western sanctions on Russia. The effort by Russian television RT to spread disinformation in the European Union. The goal is to create fractures in European unity and weaken the European Union and NATO. Other experts such as former national intelligence officer, Fiona Hill, and former assistant secretary of state, David Kramer, are skeptical about the effectiveness of these methods. These methods may also come from an old book of methods from the Cold War period because of president Putin's experience in Dresden during the Soviet days, which current European Union leaders would see as having little relevance to the global economy and global scene of today. The rise of the smaller parties in Europe in opposition to the traditional parties has more to do with the difficult economic conditions in Europe, and has little in common with Russia and its problems with its oil dependent economy and its interests in Eastern Europe. As the 2015 Pew Research survey on Europe shows, opinion is shifting towards greater support for the European Union as economic conditions improve, and is likely to move further in this direction with a return to economic growth. Favorable views of the EU which dropped from 60% in 2012 to 53% in 2014, was up to 61% in 2015, according to the survey. The Euroskeptic parties are viewed "as a good thing," as a way to shake up the complacency of the major ruling parties in tackling the economy, according to the Pew Europe Survey. In the percentage of people who see the Euroskeptic parties as a good thing for the country- Podemos left party in Spain gets 70% favorable rating, UK Independence Party 66% favorable, Five Star Movement in Italy 58%, AfD in Germany 50%, and much less so in France with 36% saying this for the National Front, and 36% for the New Right in Poland....

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Maps of the region of Kashmir in the Himalayas shown here show how close Pakistan cities of Lahore and Islamabad are to Jammu and Kashmir and how close the Punjab is to Kashmir. It gives recent history of Kashmir since colonial rule of British ended in 1948, and no mention of the history of Kashmir from 100 BC to the 15th century when for 1500 years Vedic and Buddhist cultures, Shiva culture prevailed in the region. For only 200 years between 1500 and 1700 were Muslim invasions prevalent in the region after 1750 the British gradually took control of the region when Kashmir was a British protectorate under British law and non-religious rule.  Much of the present situation is a result of the abrupt end to British rule after World War II by 1948-1950 with Communist China, a new state of Punjab and Sind called Pakistan, and most of South Asia as India emerging from the conflicts and contesting control. India now leads an effort since 2016 for modernization of the region, to provide the education and healthcare levels of modern states of Europe and America to Himalayan region that is missing because of a lack of the technological resources, and resources India is now able to use to build infrastructure and invest.  ...

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Drop in immigration reduces labor supply keeping the unemployment rate steady even as hiring cools off. Compared to the roughly 1 million in 2019 net migration was about 3 million in 2022 and 2 million in 2024. In 2025 this is now about a negative 250,000 or quarter of million negative migration. Out migration is expected at about 1 million. This means that about 35,000 non farm jobs created between May and July 2025 haven't increased the unemployment rate as fewer new workers join the workforce from illegal migrants. This has to have an effect for wages for the workers in construction and farm work as employers compete for a smaller number of existing workers though economists and the financial media rarely talk about this. This was needed following decades in which the labor supply increases from illegal migrants meant no pressures on employers to pay more than the minimum wage kept artificially low. This means that even well meaning Democrats who clamored for increasing minimum wage were doing exactly the opposite of what was needed for the existing worker base wages in construction, farm work, and household help, because of their sentiments or because of the immigrant wing in their party. Note that about a third of maids, a third of construction workers, and 25% of landscaping workers are not legal migrants. Agriculture Department estimates are for about 40% of farm workers to be without legal work authorization. ...

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Older homeowners like Carol Couts of Yuba City, California, who were persuaded to take on mortgages they could not afford on their social security checks which is all they had, often fradulently, are in a position to lose their homes and have nowhere to go. There are say home loan counselors, hundreds of thousands of people like this in places like the Central Valley of California. They do not qualify for the mortgage relief programs of the Obama administration which typically reduce the interest rate and stretch the payments over longer periods to lower the payments substantially. These are people on social security checks, which may be their entire source of earnings, and this is low enough so that the only way they can get relief is to rescind the fradulent loan entirely or cut the principal, things lenders are unwilling to take. These elderly people in such a precarious situation could end up being a blight on the nation, as something like this has not been allowed to happen in the entire post war period....

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Low voter turnout and record abstentions were a significant aspect of the parliamentary election in France. Voter turnout was about 52% in the the first round and expected to be low in the second round.

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Germany is tackling the dependence on cars in rural areas to shift to other sustainable transportation. Not much attention was paid to have trains and buses run frequently and to set up bicycle paths till now.

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Us natural gas prices are down 40% from August highs after warm autumn weather, record gas production, and gas storage facilities that are filling up fast. This will be a relief for Americans this winter.

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NPR, National Public Radio, CEO, 41 years old, was for 5 years CEO of the Wikimedia Foundation. NPR listeners have raised questions about its coverage and issues it covers, shown in this report in WSJ.

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The buyout was an effort to infuse the agency with new energy and to set new goals such as fighting the fentanyl and drug flows, the fight against drug cartels designated by DJT as terror groups.

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Judge Carl Barbier's ruling on Jan. 14, 2015 against BP which increases its exposure to a maximum penalty of $13.7 billion under the Clean Air Act. Judge Barbier's decision was that BP was liable for 3.19 million barrels of crude that spilled into the Gulf of Mexico in the 2010 Deepwater Horizon rig disaster. Judge Barbier's ruling said that BP acted recklessly in the events leading to the rig explosion an oil spill, giving the company exposure to the maximum penalty of $4300 per barrel. BP asked for a smaller penalty of $3000 per barrel.

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Wooden delivery in interviews, number crunching or scientific approach, and hesitant decision making, did not hurt Merkel. Germany's SPD is now seeing a former mayor of Hamburg known for number crunching as "brave in crisis."  He is finance minister in Merkel's government and helped convince Merkel of the need to have the $390 billion nonrepayable aid given as part of the European Union Recovery Fund. This and his work during the pandemic has convinced SPD's different factions to support Scolz in an effort to provide continuity after Merkel, as no effective Christian Democrat leader has emerged so far. Once the party of Willy Brandt, a respected leader in the period of the post war West Germany known as the Federal Republic, the Social Democrats have languished in the period Merkel was chancellor of Germany.

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"Who are the Taliban? They are the local people," says one Afghan from Marja. Another man Hamza says he will not let foreign forces raid his house. Their is fear and resentment of night raids for antinarcotics purposes. A local leader in Panjwai, west of Kandahar, says people lay mines for the Taliban only to feed their families, and says 80% of insurgents are local people driven to fight out of poverty and despair. Offered another way to lead their lives only 2% would support the Taliban. A leader in the provincial council at Helmand says people do not trust the government as it has not kept its promises in the past, so that even if they are defeated militarily and security is 100% it will take time to restore trust. This confirms earlier reports of the deep unpopularity of the Karzai government. All this reporter Carlotta Gall of the NYT finds out on the ground, in the southern provinces of Helmand and Kandahar, as the USA launches an offensive to push the Taliban back towards Pakistan. In recent years the Taliban has established control over most of Helmand and Kandahar provinces , and many villagers prefer to be left alone without foreign forces causing bombing and fighting. ...

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NYT reports show the Republican health care bill AHCA 33 votes short of passing the House and likely to fail. Conservative Republicans were looking to whittle down the safety net in the Affordable Care Act, and moderate Republicans could not stomach the whittled down bill removing guarantees of essential benefits for instance. The basic problem- no real consensus among Americans about providing health care to all Americans, and no real solutions possible as long as there is acceptance of disproportionately high levels of medical care costs for treating each disease in the U.S. compared to Europe and other countries.

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Fabrice Tourre joined Goldman Sachs in 2001 right out of Stanford University. He worked in the mortgage securitization trading operation. Emails written by him are helping the SEC investigate whether Goldman knew but did not share with investors the way in which hedge fund John Paulson & Co. helped select the underlying mortgage backed assets he was going to bet against. One former SEC lawyer says, the SEC may be hoping that Fabrice Tourre, the 27 year old Frenchman who joined Goldman right out of Stanford University, would be easier to put pressure on to reveal what he knows and other fradulent transactions.

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P&G CEO Lafley, says the company will shed about 90-100 smaller brands that generate about 10% of sales so that it can focus on the bigger brands such as Tide, Pampers, and others. Era, Cheer laundry detergent, Metamucil are some of the smaller brands. Lafley says its not size alone but whether its the preferred brand of shoppers. One such sale was pet food brands for $1 billion. About $8 billion can be generated in this way. At the same time P&G is moving into related brands such as the adult pamper business.

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Closing the plant at Genk in Belgium cost Ford an estimated $750 million and years of difficulty with workers and the community. The plant employs 4300 workers and the cost comes to about $190,000 per worker. Many auto plants in Europe are operating at about 60% of capacity in 2013, and about 7-8 million units of car and light truck capacity remains idle, by some estimates. Ford was compelled to take this action because of billions of dollars of losses for Ford Europe as sales declined because of the eurozone financial crisis and austerity measures.