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Indian Finance Minister Sitharaman on the need for the G-20 to set regulation for cryptocurrency. "Crypto currency involves a lot of technology, it's 99% technology. We are talking to all the countries to setup a standard operating procedure that will be effective while following a regulatory framework. It's under discussion with G-20 nations." India's central bank RBI head Shantikanta Das says simply "cryptocurrencies don't have any underlying value." He has cautioned repeatedly not to let these assets grow as they could cause another financial crisis.

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The International Labor Organization (ILO) of the United Nations stands for advancing social justice and promoting decent work. It says in this edition of its journal that trade unions have stood their ground to better protect workers rights during the pandemic when workers suffered from its devastating impact and in a difficult environment. In the US 1041 of 1363 elections at companies led to unions getting the right to represent workers. This is the highest number of elections over two decades. It also includes Microsoft and other companies showing wider acceptance of unions to protect workers rights.

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Ukraine's electricity grid makes it though a tough winter with frequent Russian missile attacks that led to power cutbacks throughout Ukraine. Kviv residents had only 4 hours of electricity and heat, water were also cut off for hours as the winter progressed. With better more advanced defense systems the attacks are fewer now, and the power grid is being repaired. Large transformers and other spare parts are being sent to Ukraine for the repairs. Ukraine is now able to resume exports of electricity in April 2023 showing that the worst of the electricity grid crisis is over.

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A look back at the Merkel 16 years in Germany and the European Union, the compromises to keep the Social Democrats out and her party the CDU in power, the failures in preserving social mobility in German society, immigration that led to divisions in German society, and climate change where she took some faltering steps. Only in the end did Merkel put all her convictions behind Scholz and the effort to bring trillions of euros of aid to Germany and the European Union devastated by the coronavirus pandemic. This may be her singular achievement.

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Australia increases its defense budgetfrom 1.8% to 2.2% of GDP, and shows willingness to go up to 3%, as it strengthens its naval capabilities. French submarine contract was cancelled as US shows willingness to provide nuclear submarine technologies to Australia. French diesel submarines were too slow and could not remain underwater for long periods. Nuclear submarines would let Australia monitor Indo-Pacific seas, with US help. This is now an issue as Taiwan is being threatened and Australia faces economic coercion in trade relations from China. US, UK and Australia form a new partnership with president Biden leading the way.

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The coronavirus variant surge has led to burnout for frontline medical workers in the US. It has been calamitous for the mental health of public health workers in the US. These are the data analysts, policy advisors and other workers in public health departments. Many have quit their job as reported here in The Guardian. A CDC survey of 26,000 public health workers in the US shows about half have problems of mental health. Public health workers have to face problems with elected officials as well as public resentment on issues such as vaccination.

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Reduce risk of dementia later in life by taking up exercise seriously says this report in The Times. Habits of exercise are learned early and help later in life is proven. As people grow older the following forms of exercise and activities can reduce risk of dementia is proven in medical journals. Exercise such as walking, cycling, running. Strength training with weights and exercise balls.Yoga and Tai-Chi, standing on one leg for balance, and meditation. Household chores such as ironing, washing, and cleaning. Gardening and outdoor activities. Running barefoot on grass also help the mental process and brain.

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Trust in government in the US was highest under FDR, Truman, Eisenhower and LBJ, right upto the escalation of the Vietnam War and remained above 70 percent. It changed in the seventies and hit new lows ever since to the 40% level since the 1980's through the Reagan, Bush, Clinton administrations. The 2009 financial crisis caused by banks led to a drop to 16%. It dropped to 20% under Obama and Trump administrations. By 2023 it remains at about 20%. Graphs in Pew Research show how it has changed over time.

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A 5 member US Congressional group led by Senator Ed Markey of Massachusetts visits Taiwan in August 2022. It follows the trip by Speaker Pelosi. The group includes John Garamendi of California, chair of the Committee on Readiness of the Armed Services Committee of the US Congress. The high level Congressional delegations visiting Taiwan show the US is firmly on the side of Taiwan as part of its policy in the Indo-Pacific with partners Japan, Australia and India and committed to ensure free navigation on the seas and the rule of international law.

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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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Russian emigration and moving people to the warfront has led to shortages in the labor force. This is creating serious problems for its economy. The number of employees under 35 years dropped by more than 1.3 million to the lowest level since the 1990's according to one estimate. Hundreds of thousands of young people left Russia after the invasion of Ukraine. Sustaining the war requires huge manpower losses because it is on Ukrainian territory. This acts as a considerable constraint to increasing production in factories says the governor of the central bank, Elvira Nabiullina.

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The supplies of natural gas are making a huge improvement in 2023 over 2022 when the war with Ukraine led to the European Union scrambling to replace Russian supplies with LNG imports. The higher temperatures this past winter in the US and Europe have left ample supplies in storage with the unused natural gas adding to supply. The result prices are now half of what they were last summer bringing relief to people for higher energy prices. Summer prices for natural gas are expected to be about $2.84 per million BTU's.

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Two women Claudia Sheinbaum of Morena party and Xochitl Galvez of National Action party are contesting the presidential election in Mexico in 2024. President Lopez Obrador is from the Morena party, he was former mayor of Mexico city and led the socialists to government in 2018 with his book presenting his message "Saying No to Corruption, Violence and Trump's Wall." He won by a landslide and during his term he targeted corrupt officials and worked with the US Trump administration, and now Biden administration on tackling migration and border issues.

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Benny Gantz puts forward a realistic plan for Gaza's future that is completely different from Netanyahu's, with provision for international responsibility with Palestinians to run Gaza and demilitarization of Gaza strip. He sets June 8 as the deadline. Gallant and Benny Gantz say Netanyahu's plan only has two outcomes that lead to endless conflict- Israeli control or Hamas control both having led to this disastrous situation for the people of Gaza and Israel and of Palestine.  This comes as US Defense Secretary Blinken plans visit to Israel.

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Trump tax cuts were seen as helping people in the 95th to 99th percentile for most of the gains by the Tax Policy Center, with little benefit to lower income households. Penn Wharton Model shows for the bottom 60% of the taxpayers the after tax benefit is only 1.5% with much larger gains for wealthy households if they are renewed in 2025. Democrats and Biden who say no taxes will increase for people making over $400,000 a year may prefer to let the Trump tax cuts expire in 2025 and make targeted changes to bring fairness.

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50 years after the invention of indexed funds at Vanguard, the author Burton Malkiel talks about the 50th anniversary edition of his book A Random Walk Down Wall Street. This led to the prominence of indexed funds in investing, that provides less volatility to financial markets worldwide. Malkiel says to this day passive investing with indexed funds that reflect the broader economy beats active investing most of the time.

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The Chinese negotiating team after the changes in the organization at the senior ranks of the government under Jinping lacks the experience in trade matters of the U.S. team led by Robert Lighthizer. Liu He who leads China's negotiating team is an economist who has the confidence of president Xi Jinping. Lighthizer is a veteran of trade negotiations going back to negotiations he held with the Japanese under the Reagan administration.

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Much of the reward for Labour goes to Health, Nutrition (food choices), and Education (schooling choices for children). This is the backbone for any Nation that is going to be strong and have a good future. Yet economic structures in 2026 and for decades has swung too far in one direction away from Labour and more and more for Capital, creating grave risks for the Nation, and setting the US as the wrong role model. Labour and Capital in 1980 vs 2026- increasing reward for Capital from 7% to 12% of GDI decreasing for Labour 58% to 52% in same period. In some areas this is not so because other regions have set their own priorities and this is a good thing Europe has a strong and fair access healthcare system, India has a strong and fair access pharmaceuticals healthcare system, which act as role models for the US. In 2026 RFK Jr, Dr. Oz at HHS and DJT are focused on getting US pharmaceuticals prices down to levels in the European Union. The real dangers of the skewing in the direction of Capital of rewards is creating a class that is not sensitive to the lives of ordinary people resulting in fracturing of society. Something like that happened in 1600-1800 in India and China leading to the disintegration of society and becoming overcome by foreign European powers which had more dynamic societies from the bottom up that led to discoveries in science leading to the industrial revolution. One detects something like this happening by accident by poor governance and bad decisions for wars (Bush-Clinton-Bush-Obama), and the same administrations pushed by bad advice from economists to ship the productive manufacturing resources of the Nation to China. If not reversed it would lead to the kind of decline Asia witnessed after 1600- hitting all classes of society and destroying the economic structures as foreign powers get the upper hand. The surrendering of research labs and higher education in advanced science fields to foreigners at US and European universities poses similar risks as fractured society with Capital dominant and unaware of the risks. Such societies have less perception of such risk than a bottom up built social, economic and political framework with large numbers of aspiring local citizens seeking these positions in science and technology in the Nation. ...

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BJP Modi election win in West Bengal and upset by TVK party in Tamilnadu states of India are a result of existing state governments not meeting the aspirations of young people in India for jobs, lack of progress in industrialization and lack of investment in infrastructure. These are the pressing priorities in India. Whoever can deliver on modernization and industrialization, jobs and infrastructure to meet the aspirations of the Indian people is likely to prevail. This is also no different than the process underway in the US and Europe for reindustrialization and remodernization, updating infrastructure built in the 19th century, jobs and incomes. The BJP party of prime minister Modi has set the bar high for modernization of the scale of China and Japan for India, and to even surpass them.  It is definitely doable, particularly now that India has built trade links for import of new technologies with the US and the EU, and when it is already an economy the size of Germany or Japan. Most of the Opposition parties cannot believe this is possible, and most of the media that covers India has the same views. As a result the titles and the discussion in the media are like that of 15 years back when India was led by parties that lacked the will and drive for industrialization and modernization, corruption and mismanagement dissipated resources, could not create the master plan and execution needed,  and lacked the leaders at the ministerial level to accomplish this to deliver on every promise. In fact the elections of the last 2 years have created a new northeastern India - changed the map completely with the growth in a region half the size of the European Union of 300 million people that is able to grow at 20% a year for 10 years in Bihar, West Bengal, and Orissa, Assam regions, where the mighty Ganges and the Brahmaputra rivers flow into the seas from the Himalayas. There is that much potential and it means India itself can grow at rates of 10% once all the conditions are right in a few years to 2047 for Vikshit Bharat, Modernized India. The world economy can also grow with such a vibrant dynamic India. ...

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After segregation in housing and schools since the 1867 Lincoln Emancipation, particularly in the US Southern states, protests happened in the South led by Martin Luther King Jr. to change this. situation. Voting Rights Act 1965 signed by LBJ ensures right to vote for Black people in the South- it follows protests in Selma Alabama and LBJ's 1965 "We Shall Overcome" speech that followed Selma. The first Blacks elected to US Congress were from seats redrawn to give Andrew Young a seat in Atlanta, and Barbara Jordan one in Houston. In 1993 2 more seats were added. James Clyburn was given a seat in South Carolina- he was a key supporter for president Joe Biden. Others followed. Today in 2026 there are 62 Black Members of the US Congress. This is about 11.6% of the 435 seats in the House of Representatives and 100 seats in the Senate total of 535. As a percentage of the population Black people are 16.4%- or 56 million out of US population of 342 million. The Supreme Court is essentially saying it is time to pause this as enormous progress has been made 12% out of 16% already achieved in representation for black people in the US considering the other inequities in American society, the changes in culture and in technology, inequities in world trade and for rural America. In a 2013 5-4 decision Shelby vs Holder US Supreme Court  swing to this conclusion with Alito, Scalia and Thomas joined by Kennedy and Roberts. This already struck down the core of the Voting Rights Act as unconstituional. Roberts wirties in that decision- Our country has changed,” Chief Justice John G. Roberts Jr. wrote for the majority. “While any racial discrimination in voting is too much, Congress must ensure that the legislation it passes to remedy that problem speaks to current conditions.” Times have changed - in 2026 the Court reaffirms this. In Louisiana vs. Calais the Court voted 6-3, striking down the last aspects of the Voting Rights Act, because white voters in Louisiana objected to use of race to redraw districts. The equal protection clause of the 14th and 15th Amendment to the US Constitution prohibit using race to redraw political representation maps. ...

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Slow progress of vaccination drives in the European Union has led to rising frustration. This is leading to action from the EU. The EU and Italy have halted export of 250,000 doses of vaccine bottled at a factory in Rome, that is part of the Astra Zeneca supply chain.

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National security scrutiny increases for China's telecom company ZTE. These concerns led to Washington blocking a takeover of Qualcomm by Singapore's Broadcom Ltd. This is playing out in the middle of economic tensions between the U.S. and China over trade and intellectual property issues.

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Serge Galam says in this NYT piece that abstention can affect the election in France. He says abstention from the far left voters is likely to favor Marie Le Pen. He says an overall abstention rate of 25% shown in polls can make it possible to have an uncertain result, and that Le Pen may need much less than 50% of the vote if abstentions are high. If 95% of Le Pen voters turn out and less than 61% of Macron voters turn out there is an opening for Le Pen, says Galam.

Another way of looking at this is the disaffection of the electorate with parties in France, with a high abstention vote even if Macron wins, especially on the far left.

 

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A veteran campaigner for Hong Kong values and civil rights presents his view of the Hong Kong protests for free elections. Is it in China's long term interest to let the same "cronyism" that is embedded into China's political governance be imposed on Hong Kong, when cronyism and corruption eventually lead to lower productivity, poor economic decisionmaking, and slower growth. Future leaders may need Hong Kong people to tackle these economic problems emerging from poor governance common to many countries leading to stagnation. With a rapidly aging population China risks falling into the middle income trap. The past governance achieved economic gains but an open system with a truly open Hong Kong is likely to be needed to generate the kind of economic growth needed inthe future. Opportunities lost can never be recovered in the same way again.

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Map showing most deprived neighborhoods bordering least deprived neighborhoods in the UK in 2025.  In 2019 there were 65 such neighborhoods with posh-poor side by side, in 2025 this has jumped to 119 such neighborhoods. Shown on this map are the familiar areas around New Castle on Tyne and Leeds/ Nottingham in the North and in the Midlands. With fewer such neighborhoods in the south near London. Years of austerity policies of the Cameron/Osborne conservatives and Conservative administrations since have led to a growing divide in the UK. This is also more reason for the Labour Party to get its work together to take strong action similar to the socialist party in Denmark to cut illegal migrants, so that it can focus its efforts to deliver and build a better stronger economy for all people in Britain