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Lake county with 230,000 population in Ohio received 60 million pills. Ohio Counties say after the $650 million settlement verdict by US courts for CVS, Walgreens, that it cost them $1 billion for law enforcement, social services, and health services. The opioid crisis dealt another blow to communities in the US already devastated by the behaviour of banks in the 2009 economic crisis, the outshoring of entire manufacturing to China, followed by the pandemic in 2020. America is only now coming to terms with the failure of previous adminstrations as the Biden administration takes on this task of bringing America, its workers and families back to healthy thriving communities.

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The Nissan NV 200 designed from scratch as the next taxicab for the 13,000 cabs in New York City. Nissan won the Taxi for Tomorrow contest, and a 1 year contract worth $1 billion. New York's Taxi and Limousine Commission will require all medallion owners to buy the Nissan NV 200 as they replace the old cabs. It costs $29,000 and will be phased in over a 3-5 year period. The Nissan NV 200 was designed from scratch for New York City. It has a French designer working out of a studio in California. The design team went through each detail in great detail. The designer Mr. Farion took a month hailing cabs throughout the day just to get a feel for what the cabs today are like and what needs to be improved. This includes horn sound to the inside of the vehicle and the wear and tear that the cabs are subject to on New York roads. New York roads are rough because of potholes and other problems.

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To get a right grasp of the situation as a whole from the bigger picture than the headlines, is to know that even in the current chaotic immigration handling of both parties, the US comes out a winner in long term by 2034. That it gives for the younger generation a better future. Congress's Budget Office economic report shows GDP higher by 2% from the higher immigration of 5.2 million added to the US workforce by 2034. US productivity higher by 0.2% and residential investment including construction up by a whopping 10%. The younger profile of immigrants will help the US compete with India's younger population, and as China ages to have what it and Europe is aspiring to have- a younger population. The best way to look at the immigration issue is for the short term- manage it better by organized method of immigration without chaotic border crossings by allowing potential immigrants to apply from their home country, a step taken by the Biden administration. What it or any Republican administration could not control is the immigration that happens from countries the US is at war with or in conflict with. It is important to recognize that this is what happened with Venezuela the largest component of the immigration border crossings in 2023. It was made worse by actions of both parties Democrats and Republicans and made worse in 2017 by more severe sanctions on Venezuela under the Trump administration.  Also part of the problem is Venezuelan mismanagement- providing oil at pennies a gallon, hurting imports and spiralling inflation that only worsened under US sanctions after 2017. Long term- To reflect that US sanctions on top of mismanagement by Venezuela is a warning for all developing countries in Latin America, Africa, Asia and for the US. It meant 7 million refugees a staggering quarter of Venezuela's population fleeing the country, that burdened neighbors Columbia, Ecuador, Peru, Chile. By 2022-2023 many of these refugees were making their way up the Darien Gap to the US. Yet within this tragic situation for Venezuelan people how could the US best respond is to close the border as president Biden has proposed with McConnell and the Lankford effort in the Senate, which was blocked by the House under Mike Johnson. This gives time to assess the situation, correct US laws on asylum and parole that allowed this chaotic way to proceed under actions of both parties.And not let this destabilize the US by understanding that while Venezuela has suffered for its role in the crisis the US will ultimately have come out a winner, as pointed out by the Congressional Budget Office projections. CBO projections of this immigration impact by 2034 of increasing the workforce population by 5.2 million will provide higher GDP, more tax revenues, and higher productivity than without this group of Venezuelan and other immigrants in this special situation of 2022-2023. For the Immigration projections discussion given by Phillip Swagel, Director of the Congressional Budget Office see page 51 of the Budget and Economic Outlook 2024 to 2034. For this search for term Congressional Budget Office or CBO which brings up the report on PDF and turn to page 51 or just click on Original Article on Lyrarc.   ...

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Modi refers to an ecosystem that continuously shrinks the pool of capital from government revenues, revenues intended to fund development roads, bridges and other infrastructure illegally siphoned away, that stalled and suffocated rapid development in India for 75 years. Without foreign investment there can be no rapid development in India. Without strong and efficient institutions foreign investment has not come to India in the last 30 years in the way it has come to China. These institutions of good governance that prevent such siphoning away of revenues enable 100% of every dollar or rupee of taxes to go into development essential for funding infrastructure, climate infrastructure, logistics and the other inputs of capital, labor, energy and land to build manufacturing capabilities. An ever widening pool of the inputs of capital, labor and land year after year- a process that Japan, then South Korea, then China has accomplished is possible. I It is only now taking place in India. What Mohandas Gandhi, Nehru and Sardar Patel failed to grasp in the 30's, 40's and 50's is that it was possible to have an independent India and still remain a backward undeveloped nation for a staggering period of 75 years or almost half of the period the British ruled India. What Mao failed to grasp in China and which was corrected by other leaders to make China an advanced economy able to fulfill the aspirations of the Chinese people, is also the situation that prevailed in India. Post independence leaders in China and India both isolated their economies, both limited human potential, both let institutions fail in good governance.  It is only now moving India into the process of developing an advanced developed economy by 2040, able to fulfill the aspirations of a youthful population of 1.2 billion people. ...

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Troubles at UBS including $18 billion in writeoffs and $80 billion exposure in risky securities on its books.

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American journalist Bob Schieffer spent 46 years with CBS. He was host of the news show on CBS "Face the Nation" for 24 years. Schieffer says he made the biggest impression on the American public only in the last 12 years since turning 65. During these 12 years he moderated several presidential debates, put CBS at the highest level of viewership as other leading journalists retired, and published a best selling memoir, "This Just In." Things were not expected to turn out this way. In 2003 Mr. Schieffer found out he had bladder cancer, and he says ever since he saw things differently- everything appeared as a temporary assignment. In 2005 he announced he would retire in 2007, when he was 70. Each year after that CBS persuaded him to stay. He replaced Dan Rather for "CBS Evening News" in 2005, and gave it solid ratings till he stepped down in 2007. Schieffer is the same person he was many years ago for people who remember him from CBS since 1982, as the chief Washington correspondent. It is this power of experience, of being always there, that attracts viewers who want to hear about what Bob Schieffer finds important, with an authentic voice asking the right questions....

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The news and information including video available on the internet have eroded dependence on public broadcasting in the US for communities across the US. The tendency of public broadcasting to be filled with people of views that did not represent a crosssection of America further eroded the credibility as views changed over time across different parts of America. By 2025 public broadcasting appeared as a leftover from the 60's and Congress defunded it in July 2025. 

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The Congressional Budget Office's Elmendorf says without spending cuts in payments to doctors and hospitals and other providers, providing coverage to the unisured will put the nation deeper into debt. Popular measures such as increasing preventative care, expanding medical records and rewarding doctors for choosing treatments that improve cost and quality have potential but its not proven how much the savings from this would be. The administration and the White House Budget Director, Peter Orszag, say they are in agreement with the CBO that something needs to be done to seriously reduce costs, reducing payments for Medicare and Medicaid to doctors and hospitals, and making other changes.

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Who is Nandalal Weerasinghe? This report in The Daily News gives some idea about the man chosen to help Sri Lanka negotiate a deal with the IMF.  Dr. Nandalal Weerasinghe was an alternate executive director at the International Monetary Fund before being appointed deputy governor of the Ceylon Central Bank in 2012. Before this he managed several macroeconomic departments at the central bank and was assistant governor of the central bank from 2007 to 2009, He has spent the large part of his career in economic positions at the Central Bank of Ceylon after getting his PhD in economics from the Australian National University. Weerasinghe is the leading expert in macroeconomics from Sri Lanka who has IMF experience. He says "things will get worse before they get better." He retired early from the central bank with a change in government in 2019. He was reappointed as Sri Lanka faced a debt crisis in March 2022 following the two year long pandemic, and the Ukraine war in 2022 that was bad for emerging market economies. Weerasinghe says about the crisis facing Sri Lanka- Recent decisons followed Modern Monetary Theory. This has dire consequences. In recent times the savings brought about by the low tax and interest rate regime passed savings on to the corporate sector and took away spending power from savers and pensioners. Surging inflation made things even worse for the lower income middle class and older parts of society. Years of accumulated debt have brought Ceylon to this point. In Ceylon one is seeing the effects of savings being passed on to the corporate sector in an economy dependent on tourism and remittances from overseas workers, both hit by the two year long pandemic. This is part of  a trend that has hurt emerging market economies from Argentina and Pakistan which also turned to the IMF to Turkey.  In other countries in the European Union savings also passed on to the corporate sector with low tax and low interest rate regime. With high inflation resulting in the cost of living crisis seen today in France and Germany. This type of policy that Weerasinghe calls 'Modern Monetary Theory' is not healthy for the European Union and the US, as these policies led to the neglect of much needed and vital investments in infrastructure, health and education. Only now are these effects being corrected by new administrations of Biden in the US and Scholz in Germany, with Biden's 2 trillion plan for workers and families, and a similar plan from chancellor Scholz. With this come needed investments to tackle climate change, all of which was neglected before. India has taken a different approach. By following good governance, managing vaccination effectively during the pandemic, social emphasis for food, water, electricity, cooking gas, medicine for the vast population of 1.2 billion, and a Master plan for building Made in India manufacturing,  India has avoided such crises and maintained strong economic growth. In this sense it is a model for South Asian, South East Asian, African, and Latin American emerging market economies that face a difficult situation today. Good governance is critical.   ...

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Swiss Bank UBS's $1 billion legal settlement with the Justice Department criminal division, U.S. CFTC, UK Financial Services Authority, and Swiss regulators over manipulation of the London interbank offered rate and the euro interbank offered rate is the largest settlement for LIBOR manipulation. This exceeds the $450 million legal settlement by Barclays bank for LIBOR manipulation.