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The gaps between myth and reality of the Conservatives continues to grow says this view from Labour expressed in The Guardian. With the chaos in the Conservatives and three prime ministers out in a short period- first with Brexit, then with the factions supporting and against Boris Johnson who led the fight to take Britain out of the European Union, the promises made to the North of England that led to Johnson's win in the election are falling by the wayside. There is no real progress in levelling up wealth and development gaps between regions in Britain, the commitment to tackling climate change is wavering and inconsistent when the rest of Europe and the US is moving forward with clear intent and funding, and the effort to tackle the cost of living crisis lacks conviction and plan changing by the day.     

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For someone in his 100th year and having conducted the opening to China Mr Kissinger deserves to be heard. He brings a perspective from the Austrian German school of thinking which adds to other perspectives of where the world is and the way forward. His insights are shaped by the Austrian Metternich and Briton Casterleigh in his book A World Restored (1957) and the experience gained from their shaping a peace that lasted from about 1815 to 1914. He sees China but completely misses the future and potential of India and Indonesia that together make up the largest population and twin nations in the world. India changes everything as seen from its potential to bring peace to Ukraine and bring Russia- and even China with its shared heritage of Buddhism- into the world shaped by the Anglo-Saxons (US and Britain, France) and Germany.

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With a redrawing of the tech map and where the jobs are tech jobs shift to mainstream manufacturing, health, banking and retail, says this report in the NYT. These companies invest steadily in tech jobs but did not go into manic hiring sprees in the way Amazon or Alphabet once did. Overall employment in tech occupations increased to 6.39 million in November 2022, a 12% increase over the prior year. Chase, Amex, Nike, Wal-Mart and General Motors offer more stability for tech workers. Overall US tech workers increased from about 3 million workers in 2000 to over double that in 2022. Unemployment is at 2% for tech workers compared to 3.7% for workers overall. The problems at Alphabet and Amazon and layoffs are making it easier for mainstream retail and banking companies to hire tech workers. Chase Bank alone has over 50,000 tech workers.

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China follows Japan in the proportion of its elderly population at a similar juncture in its development. A paper from Japan's Research Institute of Economy, Trade and Industry pointed out that the proportion of child and elderly populations in China as of 2020 was similar to Japan's in 1990. China reached that inflection point faster with fertility rate falling from 2.74 to 1.28 in a 4 decade period, while Japan's fell from 1.75 to 1.29. That paper also shows India's proportion of child and elderly population in 2020 was similar to China's in 1980 when its economic boom took off. The overconcentration of supply chain in China is now being addressed by business in US and Europe after the pandemic showed its weakness. Prime minister Modi says this overconcentration has hurt even and balanced development worldwide.

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The US Justice Department and Attorney General Merrick Garland file the second lawsuit against Google seeking the breakup of Google. It is joined by 8 states in this lawsuit including the states of New York and California. The lawsuit seeks the divestiture of Double Click and other acquisitions that helped Google establish its monopoly in online advertising. It covers the ad brokering business that makes up 12% of Google revenues. 

In filing the lawsuit Attorney General Merrick Garland said:

"For 15 years Google has pursued a course of anticompetitive conduct that has allowed it to halt the rise of rival technologies, manipulate auction mechanics, insulate itself from competition, and forced advertisers and publishers to use its tools.

Google has engaged in exclusionary conduct that has severely weakened if not destroyed competition in the ad-tech industry." 

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Ram Manohar Lohia, George Fernandes and Mulayam Singh Yadav are socialist leaders in the early years following independence who followed some of the same sentiments for renewal of India that are carrying India forward and have helped it cope with the pandemic and other problems. Yadav was chosen for Padma Vibhushan award this year. About Lohia it can be said that he provided a vigorous voice for democratic alternatives during the Nehru period, as did Acharya Kripalani. Both of whom have received less attention in independent India on the verge of its 75th anniversary in 2024 than they deserved.  They and in some ways Mulayam as a student of Lohia provided the voices needed for the vibrant Democracy that is India today, that is a partner for the democracies of the world from the US to Europe to Brazil and Mexico, to South Africa.

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Economy Minister Habeck says- "Our energy system will be structured differently: we will have 80% renewable energies by 2030."  Germany will close its last 3 nuclear plants this week. Germany is shutting down all nuclear energy when other countries are increasing reliance on nuclear energy. Westinghouse is building Poland's first nuclear plant. Britain, France and Finland are increasing nuclear energy with its very low carbon emissions. Biden administration in the US is backing the building of a new generation of smaller nuclear reactors. Mr. Habeck the Economy minister says for the short term Germany has its natural gas storage tanks half full with the winter heating season over. New LNG terminals and imports help replace Russian supplies. In the long term Germany is way ahead in renewable energy than other countries and will craft its own solution in its own way.

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The Mission LIFE launched by pm Modi in Gujarat in 2021 has achieved significant results-

"Under Mission Life our efforts are spread across many domains such as: Making local bodies environment-friendly, saving water, saving energy, reducing waste, and e-waste, adopting healthy lifestyles, adoption of natural farming, promotion of millets." 

"These efforts will save over 22 billion units of energy, save nine trillion litres of water, reduce waste by 375 million tons, recycle almost one million tons of e-waste, and generate around 170 million dollars of additional cost saving by 2030," he said.

"Further, it will help us reduce the wastage of 15 billion tons of food," Mr. Modi said, noting that the global primary crop production in 2020, according to the Food and Agriculture Organization, was about nine billion tons.

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The German response to the Russian invasion of Ukraine is to increase its spending on defense to over 2% of GDP.  An emotional Scholz told an extraordinary session of the German parliament - We have to ask ourselves: "What capacities does Putin's Russia have? And which capacities do we need to counter his threats?" "Putin wants to establish a Russian Empire... the question is... whether we can summon the strength to set boundaries to warmongers like Putin," said Scholz. Scholz said he would immediately invest 100 billion euros or $113 billion in weaponry. Mr. Scholz also announced concrete arms procurements including the decision to buy state-of-the art drones from Israel and F-35 warplanes from the US, which he said would be used to amplify NATO's nuclear deterrent against Russia. 

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Elon Musk of Tesla says the number of fake and spam accounts is "wildly higher" than the 5% that Twitter says. He wants to terminate the agreement with Twitter on grounds that Twitter made "materially inaccurate  representations." Twitter is planning to file a lawsuit to compel Mr. Musk to keep the agreement. 

Mr. Musk's Tesla Motors lost a third of its value during the period of the agreement. The slow growth in the US economy and in China presents problems for Tesla.

Mr. Musk's statement about social media as the future of civilization is more evidence of the kind of statements that are thrown around these days with a complete misconception of what civilization, health, moral wellbeing, even common sense are about.
 

 

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Bellman and Dayal in WSJ give this amazing report of how vaccine travels from Pune to remote region of Mizoram hills in India's northeast near Burma. This is the story of the largest vaccination drive in the world that aims to have the vaccine supplies by July to vaccinate the entire population of 1.2 billion people by December 2021. It all began with Oxford University and Astra Zeneca with the decision to make the vaccine available to such a vast population and to people in all parts of the world not just Europe and the US. Bharat Biotech and India's pharmaceutical manufacturers have now joined efforts with the help of the Indian government to produce enough vaccine at affordable cost and make vaccine supplies ample and accessible. This will then be extended to all parts of the world.

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A US Senate Committee bipartisan investigation will look into MPT, Medical Properties Trust, a large hospital landlord, and the private equity dealings in hospitals, says this report in WSJ. This WSJ report by Melanie Evans and Jonathan Weil looks into Steward, a for profit company that was created by Cerberus Capital Management in 2010 when it bought a chain of struggling non profit Catholic hospitals in Boston. For the Carney hospital in Massachusetts Steward paid $12.5 million and MPT put in $263 million in 2018 to buy the Carney hospital buildings which it then rented back to Carney, according to this WSJ report. Steward now owns 31 hospitals in 8 states including 8 in Florida some of which are shown here in a deep cash crunch. The state of Massachusetts has now sent nine monitors to each of the hospitals in Massachusetts.

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Poliovirus could be present in New York wastewater as early as April 2022 evidence shows. In UK this could as early as February 2022. It shows the need for rigorous polio vaccination programs. Rockland and Orange counties in the New York City area have polio vaccination rates for eligible children as low as 60%, compared to a national rate of 93%. Decades of neglect of healthcare, and lack of investment in healthcare infrastructure and healthcare services, and in education for healthcare that was a major priority in the postwar years in the fifties and sixties have led to a situation where this is happening today. Vaccination rates are wholly inadequate and a 100% consensus that existed on key things such as vaccination needs to be recovered in the US, by changing the entire sense of priorities in society and the way it invests in its people.

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India's foreign exchange reserves reached an all time high of $545 billion in October 2022. By December this had dropped to $561 billion because of the central bank RBI's effort to maintain the value of the Indian currency in relation to the US dollar. This is at Rs 81 to the the dollar in Dec 2022. India' needs healthy foreign exchange reserves to finance imports for its industrialization and investment efforts to modernize the country. Inflation is also a priority to keep the cost of living at levels that provide affordability. This is at about 5% in Dec. 2022. Finance minister Sitharaman cited this as key achievements. Including large foreign investment inflows as part of changing the supply chain to include India as a manufacturing hub for the west. This sets the stage for long term growth.

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Greens and SPD Social Democrat parties in Germany favor social spending, infrastructure spending, and climate change investments. Free Democrats party holding the Finance ministry supports  a brake on spending. There is no agreement on the budget in this coalition, says DW.com. SPD and FDP are not increasing in popularity and SPD could lose the chancellorship if there is a new election. The Greens and the CDU are increasing in popularity. For this reason the coalition is likely to continue even with this disagreement on spending.  SPD and Greens say higher taxes and elimination of some subsidies is one solution. The common platform has not resolved these differences. In the US president Biden has retained the support of voters in the midterm elections and has gained bipartisan support for building infrastructure and investing in renewable energy, cutting health care costs.

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Nineteen year old Belgian Zara Rutherford becomes the youngest woman to fly solo roundtrip around the world. Her parents are avid pilots and she learned to fly at the age of 14. She took off in a microlight plane Shark Aero on Aug 18 and landed after 52,000 kilometres of flying in Flanders on Jan. 20. She went through UK, Greenland, Americas, Siberia, Southeast Asia, India, Saudi Arabia and Europe. In that journey she went through freezing temperatures over Siberia, smog in India and wildfires over the US northwest.

She plans to study electrical engineering and would like to see more girls taking interest in science and engineering, and in flying planes.

Her approach was bold and straightforward. It was a trip that she thought was- impossible, expensive, complicated, dangerous, a logistical nightmare, so she never thought about it twice. 

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On the 77th Independence Day prime minister Narendra Modi takes the long view of history and presents an India that is putting behind the past and looks to the future. Actions taken a thousand years past brought us to this point even seemingly insignificant actions that shaped history, now India looks to the future thousand years hence because of actions taken today. Demography, Democracy and Diversity are turned into engines that drive the modernization of India in Modi's vision, with rapid implementation of projects every step of the way, a new way discovered by India. In this way pm Modi put today into a new context. Powering India's future is youth from towns and cities across the country, women, and the 135 million added from poverty to the middle class in the last 5 years. 

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Apoorva Mandavilli of the NYT looks at the huge task of renovating the aging infrastructure of America's schools, like this one East High in Denver. The average school building in America is over 50 years old. Having clean air in the schools would have reduced the incidence of Covid by 50%, say studies. The General Accountability Office GAO says 41% of school districts in the US have at least half of their buildings, a total of 36,000 buildings, that need to completely replace their heating cooling and air ventilation systems. The money is there, secured by president Biden with $200 billion from programs like the American Rescue Plan, but much of it remains unspent because of a lack of clear administration guidance on clean air and an official to oversee this effort, and expert guidance, securing equipment in the supply chain.

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Social and economic changes in American society have come down to an alarming statistic. There are three young women for every two young men in American colleges. At Tulane the freshman class has two thirds women students. At liberal arts colleges the class is usually 60% women. As noted in this report by Susan Dominus in NYT there is a devaluing of college education because men have choices that are higher paying, conservatives have not emphasized college education, and "male drift" is a serious problem leading to male enrolment declining. And once in college men are dropping out at afaster rate. All this adds up to a serious problem in America, one that the Biden administration has to take seriously as it looks at rebuilding not just the economy, but also the education system that supports the US economy in the world.

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The Hunter Biden investigation for non payment of taxes and illegally carrying a firearm was done under the US Attorney for Delaware David Weiss in 2018 appointed by Republicans, and extended into the Democratic Biden administration with Attorney General Merrick Garland. It ends in a plea deal. WSJ says this protects the Biden administration from any claims that it was helping the president's son.  He is the second son of Joe Biden and Neilia Biden. His mother and sister were killed in a car accident when he was a child. The only survivors Hunter and his brother Beau. Beau died of cancer in 2015. Hunter suffered a decline after that period leading to a divorce with Buhle in 2017, a troubling period for the whole Biden family she says. Hunter is a graduate of Georgetown and of Yale law school. 

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Princes MBZ of the UAE and MBS of Saudi Arabia were seen as close with MBZ the mentor of Prince Salman of Saudi Arabia (MBS). Saudis and UAE differ on how high oil prices should go. Both MBZ MBS wider mindsets are close based on modernization of the Arab world. Oil price increases mean hardship for most of the world's population, a shift of wealth from more populous countries such as Turkey and India to countries with very small numbers of people as the UAE (9 million) and Saudi Arabia 35 million). It poses hardship in cost of living for people in Asia, Africa and in EU, the US. This calls for a vigorous effort to make the switch to solar energy to reduce inequality and wide disparities of wealth in Asia and the Middle East.

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Britain heads into a general election July 4 with a deeply dissatisfied electorate. Labour is expected to get a majority after 15 years of failed rule by the conservative party with austerity policies, failure to invest in Britain and failure to improve the lives of working people. Astonishing as it may sound 58% of the British public now want to see Britain rejoin the European Union. Much of the support in blue collar working class communities in England for the Conservatives has faded and these voters have returned to support Labor. There is also a change in the mood in Scotland favoring Labor over Scottish Nationalist party. Unlike the US Britain under Tories has failed to invest in Britain's future in renewable energy, in climate change action and in infrastructure. Standard of living and support for the health system is declining.

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Stephen Lezak of Oxford looks at the costs of mining for lithium, cobalt and other minerals needed for EV's. There is the danger of the EV transition happening at the increbible cost to producing countries in Africa and Asia. In the Congo the problem of child labor and in Indonesia the problem of destroying huge parts of tropical forest. Can the EV transition happen on the backs of environmental destruction of forest or child labor?  Lezak suggests bringing mining for lithium, cobalt, back to the US with strict controls and for Apple, and EV makers to have a passport that shows where their EV battery materials come from, the responsible sourcing of materials and the controls in place. This is a problem that won't go away and will require serious solutions for green to mean something entirely positive.

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PM Narendra Modi is nominated in the historic old parliament building in New Delhi for a new five year term in office by the parties in the National Democratic Alliance on June 7, 2024. The importance of the event is because of the 294 seats of 543 in parliament of the NDA parties and the nomination based on achieving the vision of a developed country similar to the US, EU, Japan and China, by 2030. With the modernization complete by 2047, the 100th anniversary of Gandhi's struggle that won Hind Swaraj (Indian freedom), the title of a book put out by Gandhiji in 1909 as he negotiated a settlement with the British Empire for South African Indians and Black people. Leaders of every party in NDA cited this as the reason and the goal in their nomination speeches.

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Out of 50 economists in a WSJ Survey on inflation in the US, 28 economists say inflation will be higher under a president Trump. Only 8 economists say inflation will be higher under a president Biden. Trump's plan to crackdown on illegal immigration and to raise tariffs will put an upward pressure on prices say the economists in the WSJ Survey. This weeks inflation figure came out at 3%. Under president Biden inflation which reached 9% has come down to 3%, a remarkable achievement that the president alluded to in his press conference yesterday. This is a result of president Biden's cost of living actions on several fronts including housing, energy, retail prices, banking, pharmaceuticals, healthcare, childcare. Biden has made it his top priority. By raising tariffs across the board on imports Trump's actions would lead to higher prices.