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Wall Street Journal Original article ›
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A look at the graph showing inflation adjusted GDP growth in the South African apartheid years of 1980-1994, show GDP declines in 6 of the 14 years, with 3 years of decline in the last 5 years of apartheid rule. Which shows that the economy was suffering from a combination of world sanctions and the war with the African National Congress to defend apartheid. In 1996 an agreement was reached with the ANC to transfer power and end apartheid in South Africa. Some of the pressures against apartheid came from the business community's perceived interest in maintaining growth. This has been borne out by the graph showing the inflation adjusted growth in the years of ANC rule starting in 1995, which show a striking difference with growth between 4-6% for 1995-2008, high growth rates for 13 of 14 years, and slight decline in only one year 1998. This bears out the policy of business and a democratically elected government with respect for minority rights, and black-white-colored and tribal loyalties being reconciled to goals of economic growth and democracy. For two years Nelson Mandela head of the ANC maintained continuity in economic policies by retaining the white finance minister from the previous apartheid government. In 1996 Trevor Manuel who had little economic experience- who worked as an activist to organize protests against high bus fares and rents under apartheid governments- was made finance minister. He has been finance minister now for 13 years, and only resigned when President Mbeki resigned after losing the leadership election of the ANC. In the early years he controlled government spending to pay off South Africa's tremendous debt. He brought down inflation and built up foreign reserves. After the election of Jacob Zuma, another ANC veteran, supported by young black people, in September 2008, and his likely win in the current election, it appears that Zuma will retain Trevor Manuel. This ensures continuity in the face of the global recession, especially hitting commodity producers like South Africa. South Africa compares favorably with Nigeria in economic growth and modernization, spread of mobile phones, computers, literacy rates, but suffers from high unemployment, and low life expectancy. Pressures are increasing to do more for unemployment, address the crumbling infrastructure, and provide more help to the poor. Zuma has the support of the unions known as Cosatu and the Communist party, and of young blacks, in a country where one third of the population is under 15 years of age and over 40% of the population has mobile phones. South Africa has the largest economy in South Africa, is larger in land mass than Nigeria, has about 45 million people - a third of the population of Nigeria with 127 million population which has fertility rate of 5.6 twice that of South Africa- and GDP of 213 billion compared to $72 billion for Nigeria. Literacy rates are 82% for S. Africa and 68% for Nigeria, showing that higher literacy rates are lowering fertility rates and population growth. The figures are from the 2007 Economist pocketbook World in Figures. A strong press and media provides check on corruption which siphons away development funds in the public sector in commodity dependent countries like Nigeria. The private sector controls commodity exports of South Africa. So even with the relative lack neglect of the poor and unemployed in South Africa, and of health care, South Africa has done better overall than Nigeria. Average annual inflation was 5.1% in South Africa, compared to 15.7% in Nigeria, and this hits the poor the hardest. It goes to show that when it comes to modernization it helps to be inclusive, reconciliation oriented, and bring together all the resources of the country including a vigorous press and media, and business, regardless of color, race, creeds, faith, tribe or caste....

100 Days

New York Times Original article ›
LyrArc Article Gist
Friedman calls for a third party candidate to bring a focus on the issues facing the U.S. - winding down the war in Afghanistan, increasing fuel economy and conservation to reduce dependence on foreign oil inclusing a gasoline tax, enacting the proposals of the Simpson-Bowles Commission which eliminates or reduces tax expenditures and reduces spending, and provides any needed fiscal support for the short run. He says the two party duopoly is not working and even if the third party succeeds only in framing the debate and the issues in a constructive and useful way, it will have achieved something significant.
New York Times Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
The German parliament votes 439 to 119 on July 16, 2015, approving a 86 billion euro aid and loan package to Greece under an aid for reforms plan. 60 members of chancellor Merkel's CDU group voted against compared to 29 voting against the bailout extension of Feb. 2015. This included approval of 7.16 billion euros in short term funding for July 20, to meet a 4.2 billion euro payment to the ECB. This was conducted as a special session of parliament. Chancellor Merkel said: "we would be acting with crude intelligence and irresponsibility if we didn't at least try this path." Finance Minister Schauble told parliament- "We believe that there is a chance that we can bring these negotiations to a successful conclusion," yet he cautioned that after the negotiations of coming weeks "we will have to discuss whether the negotiations have shown a way that works."
New York Times Original article ›
The Guardian Original article ›
BBC News Original article ›
Washington Post Original article ›
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Dana Milbank of the WP says the views of some Democrats on Trump as a good Republican nominee based on the notion that he has high negative perception with voters is fraught with dangers for U.S. democracy. Milbank points out that this ignores what is good for the country. Having Trump as the nominee of one of the two main parties would create a divisive atmosphere and is not good for the country, says Milbank. In comparing Trump with Cruz, he says Trump is likely to follow his instincts to operate outside the U.S. constitutional system. Cruz as a person believes in the U.S. constitution and would never endorse violence or action against minorities. Cruz has not done enough to come across as a likable person with his persistent focus on conservative or Reagan values to the exclusion of everything else. This is changing in mid-April 2016 following a CNN interview with the Cruz family, a MSNBC town hall answering questions from undecided voters, and NYT coverage of Cruz at a Brooklyn bakery, that shows a different human face that people have never seen about Cruz. Cruz's self-deprecating humor in a NYT article where he talks about voters not liking "a hectoring scold," is part of this needed change that could have happened earlier in the campaign. About Trump Milbank cites Conservative party prime minister Cameron who says Trump would unite all Britons against him if he ever came to Britain....
Wall Street Journal Original article ›
LyrArc Article Gist
Michael McConnell, was Assistant General Counsel of the Office of Management and Budget from 1981-1983. He is now a professor of constitutional law at Stanford University. Here he tries to throw light on how the budgetary process that is required by law, and which makes the formal budget proposed by the president available for public scrutiny, was circumvented through a sequence of events starting in February 2011. The Budget Act of 1974 sets specific deadlines and a process for generating revenue, setting spending priorities, and setting the debt limit. The President first submits his administration's budget by the first Monday in February. The Congressional Budget Office has until Feb. 15 to score the budget using identical metrics for all proposals for a consistent scoring. The budget President Obama put forward in February did not take into account the growing deficit and was rejected by the Senate 97-0. The President proposed a new plan in April 2011, but the proposed budget was so vague that CBO Director Douglas Elmendorf said he could not score it. The subsequent efforts in June and July 2011 were carried out in closed door negotiations between senior Republican leaders and the Obama White House. This subverts the original intention of the law. The Budget Act says that both the House and Senate hold hearings on the proposal, with testimony from the administration, "national organizations" and the "general public." Transparency, openness and accountabilility are key aspects of a proper process that is democratic and prevents the parties from engaging in blame and competing claims. The closed door negotiating sessions and the lack of a concrete written budget proposal from the President has turned the current budget process into an effort by each side to see how it can best position itself for the 2012 presidential election. ...
WSJ Original article ›
LyrArc Article Gist
This editorial in the WSJ in June 2016 points out the dangers in the U.S. president Obama not facing up to the threat in the Middle East since 2013 leading to the fall of Mosul,  and in not clearly focussing on the threat since then. This has created divisions inside Europe and the U.S. in internal politics, and is being exacerbated with the rise of far right groups in Europe and by Trump in the U.S. It points out that by not clearly identifying the threat president Obama has given "illiberal" policy a boost. It says Hillary Clinton should be careful to formulate her own position in line with policy that has been pursued since FDR.

Wall Street Journal Original article ›
LyrArc Article Gist
The Romney campaign is trying to keep Obama's support among Hispanics and Latinos to 65-70%. Latino leaders say Romney's positions on immigration during the primaries, when he chose to go to the right of Governor Perry, have affected their perceptions and his more recent centrist positions are being discounted. Republicans are awakening to their weak position in the fastest growing demographic in the U.S. Positions on abortion, gay marraige and religion are affecting a portion of the Latino vote. One question is how enthusiastic is the voter turnout, especially because president Obama failed to take up immigration reform in his first term and gave it a lower priority.
New York Times Original article ›
LyrArc Article Gist
The election strategies of the ruling Congress party and the opposition BJP party in India for the 2014 general elections.
New York Times Original article ›
Washington Post Original article ›
LyrArc Article Gist
Michael Bennet in Colorado, Paul Hodes in New Hampshire, both Democratic candidates, are campaigning for austerity cuts to reduce the deficit. Paul Hodes suggested $3 billion in spending cuts that would remove airport, railroad and housing funds. As Democrats shift to deficit reduction and reducing spending, to keep up with shifting public sentiment; Republican candidates are shifting to radical solutions to reduce the deficit, including shutting down some federal agencies. This may result in an entirely different Congress ater the midterm elections- one focussed on deficit reduction just as the economy slows down as stimulus fades, and local governments cut back.
New York Times Original article ›
BusinessWeek Original article ›
LyrArc Article Gist
In Spain regional governments finance the costs of education, health care, more than elsewhere in Europe. Analysts in Spain say the spending went out of control during the boom years of the last decade. Governments from Catalonia, Valencia to Andalusia spent lavishly in these years on everything from stadiums to theme parks and hired many public employees. Regional revenues have gone down by 9% in the last 2 years and local governments in Spain are now trying to raise $57 billon in the debt markets, more than any other local governments in Europe, except for Germany. And regional governments like the government in Catalonia are paying 3.3%, one percentage point above what the Spanish government is paying. Spain's local governments have $200 billion in debt, and more spending cuts are expected as tax revenues continue to fall short. Spain's economy is expected to decline by 0.3% in 2010.
Wall Street Journal Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
Liberal groups feel president Obama has lost the leverage he had after the McConnell-Biden fiscal cliff deal of Jan. 1, 2013, saying this only sets the stage for talk of spending cuts.
New York Times Original article ›
LyrArc Article Gist
Interview with Hillary Clinton, former U.S. Secretary of State, in Atlantic magazine, August 2014. In the interview Clinton is critical of U.S. president Obama's approach to foreign policy, and the "don't do stupid stuff" comment by Obama that is the psychology behind Obama's foreign policy of avoiding involvement in overseas conflicts- even when it was badly needed to preserve the U.S. role in the world. Hillary Clinton presented the Obama outlook on foreign policy as inward looking and cautious at every step, to the point of making America look pessimistic about the world and its role. This situation she described as not conducive to making any better decisions than the Bush-Cheney era approach of aggressively and even jingoistically pushing the country into foreign conflicts.
The New York Times Original article ›
LyrArc Article Gist
"In the spring of 1971, I met a girl," with that beginning Bill Clinton gave one of the most memorable speeches at a Democratic Convention in history, to introduce the very human, Hillary- sometimes frail, but always looking for new mountains to climb, new barriers to break, new injustices to be righted. Of the long courtship at Yale and the years at Arkansas, buying that house in Little Rock Hillary liked before proposing marraige,  the time when they cried while leaving their daughter Chelsea at college dorm in Stanford; and all the private moments of a political couple one gregarious and outward looking, the other serious and inward looking. An introduction to someone you have heard too much about but you never knew. Never saw too close because of her intense longing for privacy- possibly coming from her own mother- Methodist upbringing that you were never the one to focus on, and family experience. Bill had seen this Methodist up close, and shared his experience with his countrymen who had not known her so well as he had.  ...
Wall Street Journal Original article ›
LyrArc Article Gist
This WSJ editorial in September 2014 says many of president Obama's statements and decisions on Obama healthcare legislation and implementation, Syria, NSA and privacy, the Middle East, Russia, showed poor judgement. It refers to a piece by Peter Baker in NYT where it is said that Obama mocked how people see him as too professorial, diffident, in a sarcastic statement. The problem says WSJ is that president Obama has poor judgement. Being academically credentialed and quick grasp of subject matter is not the same as having the ability to discern things, instinct and grasp of the essence of the matter. George Bush senior had a long resume and was academically credentialed. By comparison Truman had a short resume and was not academically credentialed or quick with data and analysis. He had something more essential and important- a discerning mind and grasp of the larger picture, as well as listening abilities for exceptional advisors such as General Marshall and Acheson he gathered around him....
Wall Street Journal Original article ›
LyrArc Article Gist
U.S. States faced a shortfall of $86 billion during the 2011 budget season, according to the National Conference of State Legislatures. This was after a rise in tax collections during the last year from an improving economy, and about $30 billion of tax increases passed in 2009 and 2010. States faced the end of $66 billion in federal stimulus aid, and their share of Medicaid costs are expected to go up by $16 billion in this fiscal year, according to the National Association of State Budget Officers. The political mood has shifted with worries about the deficit and fears that tax increases could make the states less attractive for employers. As a result there is a focus on spending cuts with very few tax increases. Forty six states began a new fiscal year this week after legislatures focussed on spending cuts, mostly avoided tax increases, and some states placed restrictions on the pay and benefits of public employees.
Wall Street Journal Original article ›
LyrArc Article Gist
After a general debacle the Congress party gains ony 44 seats in India's parliament, the lowest since independence in 1947. The BJP party under Modi gains 282 seats and sweeps the north, centre and west of the country, and parts of the south and east. Younger voters in overwhelming numbers voted against inept governance and corruption under the Congress led government of Manmohan Singh and party leader Sonia Gandhi.
Washington Post Original article ›
LyrArc Article Gist
The skills to navigate different personalities and work patiently on the issues surrounding changes to the U.S. tax system of Rep. Dave Camp (MI), chairman of the U.S House of Representatives Ways and Means Committee, will be immensely useful in the effort to make changes to the U.S. tax system. Camp works well with fellow House Republican leaders Boehner, Ryan, Cantor, and his Democratic counterpart in the U.S. Senate Max Baucus. Camp is a good listener, refuses to engage in partisan criticism, and has the patience to work through difficult issues of achieving savings and keeping fairness in the the tax changes. Earlier efforts to achieve consensus in late 2011 failed, making it even more important to have leadership which can create productive debate and bridge the differences. The tax changes are part of the overall effort for U.S. economic recovery by reducing the deficit.
Washington Post Original article ›
LyrArc Article Gist
Republican Senators Corker and Blount are confident that a solution can be devised for the sticking points on a deal between the Republicans and the Democrats. The Republicans consider the savings in the Reid plan from the wars in Afghanistan and Iraq a "gimmick," but essentially the Reid and Boehner plans say analysts are similiar in the inital cuts in spending. The sticking point for Democrats is on the whole process of the debt ceiling extension having to be redone in early 2012. For Republicans the sticking point is in in tax increases which the Reid plan leaves out in the initial period for debt limit extension into 2013 when a new president takes office. House majority leader Boehner is facing opposition within his party and this restricts his leeway for striking a deal- the Boehner plan passed in the House by a vote of 218 to 210 on July 29, 2011, with 20 Republicans voting no. It was voted down in the Senate that same evening with a vote of 59 to 41, with 6 Republican senators joining all 53 Democratic senators. As it stands now, the weekend before the August 2 deadline, President Obama concedes that there is "rough agreement" about the size of the first round of spending cuts, and the "next step" to rein in borrowing. He went on to say that "if we need to put in place some kind of enforcement mechanism to hold us all accountable for making these reforms, I'll support that too, if it is done in a smart and balanced way." Its the design of this enforcement mechanism that is the main point in the remaining negotiation. The nature of the committee selected from both parties for the next phase of savings, its powers and the trigger in the sense of what it can ensure happening if no decisions are taken by both parties. ...

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