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Sabine Kinkartz of the DW.com looks at the way in which Olaf Scholz achieved what was seen as impossible through patience, grit, and hard work in the face of adversity. SPD was seeing poll numbers of as low as 15% in the spring of 2021, just months before the election. Scholz believed in his party's ideas for the renewal of Germany, remained undeterred even after losing an election to lead the SPD to Esken and Walter-Borjans in 2019, when Esken and Walter-Borjans reinforced the idea that the SPD should stand for workers and families, what it always stood for. Scholz was put forward as candidate by Esken and Walter-Borjans in 2021 with conviction. By Spring 2021 it was clear that Scholz had achieved the impossible, getting the conservative Merkel and the CDU, with instincts against borrowing in all situations, to agree to a huge aid package for Germany to fight the pandemic, and a huge aid package for the European Union to fight the pandemic.  That Scholz remained undeterred in his campaign by low poll numbers and went on campaigning on the basis of convictions about what is right for Germans and Germany, comes from deeper convictions from his days growing up in the Hamburg youth wing of Social Democrats in the years following SPD's Wily Brandt and the post war recovery. Germany's most remembered leader after Adenauer, Willy Brandt was leader of the SPD Social Democrats from 1964 to 1987, and chancellor 1969-74. Both Adenauer and Brandt are respected some 50 years later in the world and in Germany. That Germany is going back to this tradition of leadership after the period of the Merkel years when Germany was held back, brings new hope to Europe and the world. In allying with the Greens under a younger generation leaders Scholz saw the promise of an opportunity to tackle problems of climate change and investment in infrastructure together. Both parties see borrowing as essential to invest big in the future. Scholz message to Germans, Europeans and the world is - "Big jobs, but our country is capable of doing them." A message sent out from the US by president Biden, and from Asia by the Indian prime minister. ...

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The Editorial Board of The Financial Times (UK-Japan) says Germany needs leadership to fix problems, not just manage crises. The Merkel years were marked with Angela Merkel fixing the euro crisis- itself a legacy of missteps under her mentor chancellor Kohl who pushed too fast for entry into eurozone of countries such as Greece without meeting requirements. As Annalena Baerbock points out the actions taken by Merkel are still being questioned such as the austerity policies. Baerbock says in a rare interview- "The major lesson from the eurocrisis is that austerity can end up suffocating an economy, which is why fiscal reform was needed. Germany and Europe needs to become the engine room for innovation again." A fuller and more objective reassessment of Merkel policies by the German people is likely to happen after the elections. Merkel only moved away from austerity policies after the pandemic, committing to European solidarity and sharing the burden of aiding the economies of southern Europe in 2020. This happened at the end of her administration following 10 years of austerity, a period in which Germany invested little in her infrastructure or modernization. Much of the goodwill for democratic practice and forms of government among German people generated by Adenauer and Wily Brandt in the early postwar years was wasted with her migration policies which were also reversed by 2019, as Mr. Biden is doing in 2021 in the US. The potential for good with new direction of a combined Biden administration in the US and a Scholz-Baerbock  administration in Germany and Europe is immense and sorely needed. ...

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Even with the best US effort heroin production increased to 9000 tons in Afghanistan says this report in The Economic Times. Indian coast guard and Gujarat anti-terrorist squad size large amounts of heroin at Mundra port and along the Porbandar coast.  Afghanistan has a 2000 kilometer border with Iran and another 2000 kilometer border with Pakistan. There is now increased risk of this activity along India and Sri Lanka's coastlines and borders, says the Economic Times. Much of the colonial period was marked by British traders use of opium from Bengal and other parts of India in illegal activities in China through Chinese ports for sale of opium -leading to the Opium wars in 1850 with China's feudal monarchy and eventually to China turning to the CCP. This was conducted under the British East India Company and condoned under the British Empire- making it one of the worst activities of colonial powers in history. Some of the same activities are being conducted and condoned by countries in the region. A multinational allied task force Combined Force 150 keeps track of the oceans in the North Arabian Sea and in the Horn of Africa. More naval forces are needed from India, the US, UK, Australia, Japan and other countries to keep the oceans safe and clear, and protect people in the region. ...

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The boost to investor perceptions for India with Modi's election, and to Indonesia with Widodo's election are major changes in the second half of 2014. The first half saw the dented confidence in Argentina, Venezuela, Turkey and South Africa. To this can be added Russia with Putin's response in Ukraine and western sanctions. China with Jinping's response to pro-democracy protests in Hong Kong for restoration of the pledge of free elections by 2017, appears to be losing investor confidence, especially with investors seeing this as adopting the Putin Way. This is happening with a gradual movement towards restoration of trade relations with Iran.

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Kevin Maurer looks back at 15 years of covering Afghanistan since 2004, and asks was it worth it.  The conflict has cost 145,000 lives for the U.S. period of the war alone. Not counting the war in which the Russians were involved in the decade before the U.S. involvement. In fact the Russian involvement in Afghanistan was costly enough to hasten the collapse of the Soviet Union and bring Gorbachev to power to unwind the war and make the changes that led to the collapse of the Berlin Wall.  2400 U.S. servicemen dead and 20,000 Americans wounded. The cost to the U.S. is $737 billion for this war, according to a report in 2018 from Brown University's Costs of War Project. Just as the Soviet Union showed the damage from this war the U.S. has seen the cost of this war and foreign entanglement in another war that started accidentally with international interventions in the Iran-Iraq region as a cost that was borne with consequences. This includes the neglect of infrastructure and the damage to the middle class prosperity built up in the 1950's and 1960's after the Second World War. The U.S. got into this war with 9/11 attacks on New York City. By 2010 what began as a war fought by a few Special Operations teams turned into a war with troop levels reaching 100,000. Presidents Bush and Obama both failed to end the war by winning it. In 2014 finally combat operations stopped and American troops mainly conducted anti-terrorism operations and trained Afghan forces. In recent years the war has gradually disappeared from the national discussion in the U.S. and is barely talked about. President Trump wants to end the war even if it means talking to the Taliban and negotiations directly with the Taliban are ongoing.  One result of this war is the aversion to costly international entanglements and the highly unpopular nature of the conflicts. There are serious costs of the conflict in terms of neglected domestic priorities including infrastructure, loss of U.S. technological edge in key industries, and the competition from China, an the investments in health, education, services that were not made, the increase in inequalities and the diminishing of the middle class. The global financial crisis of 2008, the result of faulty banking, added an economic dimension through the loss of middle class savings in the U.S., worsening the financial situation of the middle class in the U.S.    ...

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Ford utilization of EU plants is less than one of 2 plants 2025. It is renting out the unused plant capacity to Nissan which needs this capacity to make cars in the US to overcome DJT tariffs on imported autos from Japan.

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Prime minister Theresa May of Britain announces her plan to spend an additional 20 billion pounds a year on the National Health Service. Over five years the commitment is for an additional 70 billion pounds. By 2023 this will bring the UK to the point where it is spending the same proportion on health care as France. This also fulfills a promise made by the pro Brexit campaign. May says some of this would come from higher taxes, and 9 billion pounds that the UK contributes to the European Union each year would go to pay for the additional funds to the NHS. The 2017 British election with Labor winning 40% of the vote has affirmed the shift in public sentiment to greater commitment of funds for health and education. Poorer communities in Britain that were left behind tended to vote for Brexit, with a large gap widening between London and the rest of the country. Higher commitment to NHS is part of the shift in perception that the needs of health, education and underserved communities are the new priorities. ...

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David Smith, Economics Editor of The Times, says history is repeating itself now that the Labour Party thinks it should not have abolished Clause 4 of its constitution under Tony Blair ( the common ownership of the means of production, distribution and exchange). Now that Labour's policies for renationalisation of water, transport and other basic services are popular, it appears that we are seeing a response from people fed up with market failure and greed in the way the private companies in these services are run.  Profits should go to taxpayers for basic public services and that salaries of management should be moderate, services efficient, and borrowing of capital done at lower rates, is the idea behind this. The Times You.Gov poll on renationalisation for rail shows 56% supporting, only 22% opposing, renationalisation of energy companies supported by 45%, 29% opposed, water companies 50% supporting and 25% opposed. In addition to this other Labour policies of 45% tax rate for incomes above 80,000 pounds, and 50% at 123,000 pounds, as well as wealth tax are also popular. Workers on company boards with ownership of a portion of company equity are also popular. This adds to the mystery about Labour's lack of strong support going into the election. Support for renationalisation comes from the thirst for change, says The Times. Market failures, greed, inequality and poor delivery of essential public services, severe cuts in the last decade, all play a role in the thirst for change. There is also the idea that when it comes to essential services there is no room for profit or owners and managers with huge pay running into millions. When trains are overcrowded or unreliable run by private companies economic arguments remain for the textbooks, its daily experience that counts. Going back to a time in the past when it worked, where economic structures were based on fairness, and people cared, is seen as an alternative to a dysfunctional period.     ...

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Reaganomics, trickle down economics, it is clear don't work. James Mackintosh says in WSJ, the latest version of Reaganomics, in the form of the LIz Truss budget in September 2022 with cuts in corporate taxes, no relief for vulnerable populations in the cost of living crisis as in all other major European countries and in the US, is already getting a bad reception in financial markets with the tumbling of the British pound.Times have changed there is nothing to be gained in its approach as there are no trade unions strangling growth as in Thatcher's time that need to be restrained, and not that much red tape to increase business flexibility. Most of the privatization has already been done and some of the state run companies are operating much better today than privatized companies handling water and other services.   Instead the problem is one of much needed investment in infrastructure and public services, and social protections after the pandemic. Businesses are not being crippled by high corporate taxes. Instead the opposite is the case, with windfall profits, so that the opposite approach taken by president Biden to use the higher tax on profits of Tech, oil and other companies to finance social protections and a huge climate energy initiative made more sense, leading to the passage of the $369 climate bill  and Inflation Reduction Act of 2022.  The WSJ makes these points- Britain has a higher current account deficit and higher debt at over 100% of GDP compared to the period of Thatcher in the 1980's when debt was only 40% of GDP. Most important is what the WSJ says about what has happened since the 2009 financial crisis and the austerity policies pursued after that crisis that were worsened by the pandemic so that public services in Britain are actually crumbling. Politically this lacks popular support and little backing at a time of a recession in the British economy, because such policies require public support to go through a tough period . And taking this trickle down economics today when Britain faces a cost of living crisis may be an unwise act of taking an approach that is no longer relevant or shown to be working at the worst possible time, says the WSJ. ...

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This early by May end heat wave in Texas and Louisiana with temperatures reaching 102 degrees.

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Early warning about the danger of a small group of individuals deciding the future of an important technology that has dangerous potential if placed in a few hands. With the dangers ever present that the pace of development is outpacing regulatory effort, and the profit enabling a few corporations to stifle regulatory effort in America's flawed democracy. Sam Altman is seen by the board of OpenAI as "hindering the efforts of the board to carry out its responsibilities." The tension of the board with Sam Altman comes from the thinking at the board that the rapid expansion of commercial offerings was not giving time to consider the safety implications of the products rolled out. Watching Joanna Stern of WSJ interview Sam Altman and Murali Murthi gives the impression that Altman was  moving too quickly and Murthi was saying the right things but lacked the experience and capacity to tackle AI's vast responsibilities. This also stems from the fact that what young Stanford and other tech graduates in their early thirties have done in the last 2 decades ends a chapter in America's tech history. AI is an entirely different technology which requires the involvement of major parts of America's whole technological and scientific community and its society, not just a few individuals. This is also the lesson from the pandemic for virus research where not just the Cambridge, Massachusetts community needed to be involved, but vast parts of America'a health and medicine scientific community and the American public. A million lives were lost in the pandemic in the US alone, and millions all over the world. It is a lesson that should never be forgotten- that technology can get out of control. ...

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Microsoft CEO Satya Nadella testifies at the US Justice Department's trial of Google that the deal Google made with Apple led to its search engine becoming ubiquitous with monopoly power. Nadella said that the unfettered power of Google made it difficult for Microsoft to compete with Google on the internet. 

"Despite my enthusiasm that there is a new angle with AI, I worry a lot that htis vicious cycle I am trapped in could get even more vicious." Nadella said that Google's deal with Apple made it oligopolistic.

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"The economy is performing well, and the near term prospects are good" says Mark Zandi of Moody's, in his speech on the US economic outlook at an event of the National Economists Club. He is optimistic about the economy and sees moderating inflation and higher consumer confidence. Investments in the CHIPS act and the Inflation Reduction Act in science, in chip manufacturing, in renewable energy manufacturing, other investments in infrastructure, he sees as building a stronger economy with job creation and improved potential for growth. Oil prices could pose a risk. Increased supplies of US oil, and stable production by the Saudis are needed for stable oil prices after recent turmoil in the Middle East.

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The Economist describes the odd situation where only 17% of Republican voters voted in the presidential election primaries with the television media talking about huge voter turnout. Donald Trump wins a series of primaries by March 2016 with about 35-40% of the vote, securing less than 8% of eligible voters and headed for the Republican presidential nomination. In the fall 2012 election in the U.S. voter turnout was 54% and 129.1 million Americans voted, just to get an idea of how things change in the fall of 2016.

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NYT report showing where fires are burning on a US map, mostly in the western US. Fires are burning across millions of acres in the US in August 2024.

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The U.S. and India face difficult trade negotiations as India moves to build its Make in India campaign, building capabilities of Indian manufacturing companies for global supply chains. Mr. Trump will sign a $3 billion defense deal with India for supplying helicopters and other equipment to India. Indian policy on trade is to ensure local content and transfer of technology to build capabilities of local companies. The goodwill generated by the visit by Mr. Trump to India, and deals on defense could lead to agreement on other trade issues, as India and the U.S. balance other considerations such as the rise of China into the picture. This will take time and is likely to be done after the elections. Differences on tariffs will continue in the same way that differences with China led only to a partial deal, with contentious trade issues on technology left for the future.

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For National Governance Day the Library of Congress has recordings of the poetry and talks given by Atal Bihari Vajpayee in an audio page. These recordings were made by Vajpayee himself at his prime minister's residence in Delhi in 2001 and are in his own voice. As poet, philosopher, foreign minister, Leader of the Opposition and prime minister in India, Atal Bihari Vajpayee embodied the vision of the generation that started with Mohandas Gandhi in the 1920's through Govind Vallabh Pant and Lal Bahadur Shastri in the Hindi speaking heartland. A vision that is the basis of the sab ka vikas, sab ka viswas, sab ka prayas development drive of today based on good governance.  Ao phira se diya jalaem- come let us light the candle again, the sun dims, come let us light the candle again-  is one of the classics from Vajpayee as India looks to 2025 and ahead for National Governance Years. Jita jagata rashtrapurusha is a poem on national unity, more spirited than even the national anthem itself. ...

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The failure of regulators is one of the features of the last decade leading to the losses of capital that could have been better allocated to infrastructure, health education and paying down debt in the U.S. and Europe. This WSJ report says fintech or financial technology companies faced little regulation or critical oversight from regulators as regulators tried to foster growth in that sector. This puts more burden on shareholders to be vigilant, it says. Wirecard went into insolvency with huge losses and debt and accounts in the Philippines for over a billion dollars that were later proved not to exist. The astonishing aspect of the Wirecard scandal is the way German regulators not only did not investigate but pushed back against critics of the company's finances, that there was something fishy about the finances. Wirecard was established in 1999, and is described as a slow-burning story since 2016 when the stock price took off for a wild ride. This report says government regulators are relaxing important rules in the hope of coming up with a winner- this is proving to be a dangerous exercize and an exercize in folly, as it leads to losses of capital with no one taking responsibility among government officials or regulators. In the case of Wirecard the German officials even filed a criminal complaint against accusers, and banned short selling. of stock.    British and European financial watchdogs are acting as cheerleaders and watchdogs at the same time says the WSJ. Watch out it says when regulators play this kind of double role. During the financial crisis of 2008 the revolving door between companies being regulated and the regulatory agencies themselves was a defining feature of that period leading to huge losses of capital. Today this has taken on a new  and additional dimension, each time making things worse, even as infrastructure investments, investments in health and education are being deprived of capital because they benefit the public, and are not a benefit to small groups of well connected people willing to flagrantly conduct activities such as setting up accounts that do not exist for over a billion dollars.   ...

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Amazon expands during the pandemic when retail on line delivery has helped people reduce trips to the grocery or retail stores. Amazon hired 427,000 people to expand its workforce to 1.2 million people by November 2020, 9 months into the pandemic. Almost doubling the employee workforce. These workers are mostly at warehouses, with some software engineers and hardware specialists. This includes hiring in India and Italy and is worldwide hiring. This does not include 100,000 temporary workers for the holidays, and 500,000 delivery drivers working for contractors.  Only hiring of 230,000 people by Walmart about 2 decades a ago in one year comes close. Walmart hired 180,000 people during the pandemic. Walmart has 2.2 million employees. With the expansion underway Amazon looks to become the largest private employer in the world in 2 years, say experts.  Amazon pay is $15 an hour after an increase of $2 recently. Its coronavirus safety practices have been upgraded after early criticism in April and May. Recent expansion in Italy and in India are also part of worldwide expansion after Walmart has pulled back from its worldwide expansion. This also shows how quickly major aspects of life are changing during the pandemic as some companies in online business are becoming more prominent than others. Target and Walmart have also increased in size. Best Buy has changed its focus with its conversion into a company that leads with personal service in online plus store hybrid retail and a focus on seniors and older people for healthcare service and product delivery. Companies are changing the way they run or getting a new life in remaking their business. This is also a time when other aspects of business such as social media are becoming evident. Subtle aspects such as reports of higher rates of mental depression through use of social media platforms. There is also the awareness that information technology companies in Silicon Valley generate most of their money in advertising and this advertising of $100 billion is only a small fraction of the $12 trillion U.S. economy. Should Silicon Valley based in California decide priorities on where capital allocation should go through the part it plays in moving startups based less on America's priorities than other considerations. Healthcare, education, cities, and infrastructure have not received funding they need and capital allocation by financial markets has failed the American people, as it has failed in Europe and other parts of the world for similar reasons. This has hit hard communities and people across the U.S. and Europe and also in Latin America, Africa and Asia, with the loss of manufacturing to China and other countries from the U.S. India and Europe. ...

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Israel's Moon Lander is the first private effort to land a spacecraft on the moon.

A small spacecraft called Beresheet was sent up from Cape Canaveral Air Force Space station in Florida using SpaceX Falcon 9 rocket.