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Davidoff describes the hype in Silicon Valley that leads to soaring valuations- hype about Nest includes founder Fadell's reference to his vision for home thermostats that would change the world. All the participants benefit says Davidoff, Facebook, Google, Microsoft, venture capital firms and firms acquired such as Nest. Nest was acquired by Google for $3.1 billion, when it would have been valued at about $2 billion before Google showed interest. The hype lets Google present itself as the company of the future, and boost its image, which means a lot in getting investors to support the huge valuations.

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Effects of the pandemic on U.S. and global business, the U.S. and global economy from the WSJ.

Imagine 700 of 763 aircraft, most of Lufthansa's planes parked. Lufthansa is in pause mode, having reduced its capacity by 94%. Most passenger airlines have become cargo airlines.

New car registrations in France have fallen 72%. Nissan Renault is not selling anything, and there are no revenues say company representatives.

100,000 sailors on cargo ships are at sea with no hope for landing as shipping comes to a standstill.

Workers on New York's power grid spend the night on trailers in parking lots and in confined spaces with no more than 6 persons on a team. If one got sick he could infect others, and cause a personnel shortage.

 

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Misinterpretation of his remarks by the media with commentary presenting it incorrectly as criticism of DJT, says Pope Leo. Leo said that his speech in Cameroon “was prepared two weeks ago, well before the president ever commented on myself and on the message of peace that I am promoting.” “It was looked at as if I was trying to debate again the president which is not in my interest at all.” A lot of unnecessary commentary was made on this in the media exaggerating the Pope's comments to make political points about the opposite side in political discourse. When the Pope says he is going to talk loudly on the message of the Gospel in his visit to Africa, visit to Algeria, Anglola, Cameroon, it is clear he is talking about the domination of the colonial powers and the huge loss of life in these countries and about " the grossly "unequal distribution of wealth," in these  and other countries of Africa.  ...

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IEA Director Fatih Birol says conservation of energy plans should be undertaken by all nations. He says Gulf countries and Saudi oil output will not be the same even when the war ends and the shipping lanes in the Hormuz Straits will not be handling the volumes of 100 ships that passed through the sea channel before the Iran War. Yet he says the best solution is for opening the Straits of Hormuz. This raises some serious questions about depending on the Straits of Hormuz and the Persian Gulf for oil supplies in 2027 and beyond. Can conservation, new sources of oil, acceleration of renewable energy use and electric car technologies lead to making the Middle East oil supplies becoming redundant, doing without this supply or turning it into a marginal source which would lower oil prices even further to the $50 level? Energy use decline for the same or higher GDP levels have potential in the US, China and India. Japan and Germany have cut energy use by about 50% in Japan and 35% in Germany with slightly higher Real GDP levels than 1996 in Japan and a 50% increase in Germany over a 30 year period( using 2015 as base year).  Major renewable energy gains have been made in the last 10 years with solar and wind technologies and electric car technologies. Much of the gains in electric car technologies lies ahead and this would cut crude oil significantly for cars and trucks which makes up 60-70% of oil use. Add to this conservation technologies. Other sources of oil can be found. And Venezuelan, Alaskan oil can be ramped up to replace volatile sources from the Middle East.  ...

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France's Foreign Minister Ayrault says of Boris Johnson: "He lied a lot to the British. Now, he is the one with his back against the wall." He sees missing in Johnson the "clear, credible and reliable" person with whom he can negotiate. Ray Stegner, deputy chairman of Germay's Social Democrat Party says "May looks weaker after such a choice of personnel. Now he is negotiating Brexit. Enjoy the trip." In China he is seen as a celebrity not a serious person. Bildt, ZDF, see in this a part of British humor. Jurgen Hardt, foreign policy spokesman for Christian Democrats Party in Germany had a different take on Johnson- seeing this as an astute move because if the government one day comes to conclude that Brexit should not be completed then having Johnson on board to explain it to the people would guarantee support in her party and with the people of England. In her first speech May emphasized that she was a "Unionist." Her first important meeting was with Nicola Sturgeon of Scotland and made Scotland's agreement necessary before invoking Article 50. Her talk of "burning injustices" for the poor and the underprivileged also goes to address the root of the problems behind the Leave vote. By having Johnson on board she can focus on the issues that really matter and which were on the minds of people in England, Wales, Scotland and Northern Ireland- to ensure that the economic system works for all.   ...

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Krugman points out that the loss of 490,000 public sector jobs in Britain, as laid out in British Finance Minister Osborne's plan, is equivalent to the loss of 3 million jobs in the U.S.. He does not see the private sector being able to create the jobs to make up for this loss. He cites Osborne's speech to Parliament, in which he said that "Britain was on the brink of bankruptcy," as a shift in rhetoric of the Cameron government from hope to concern that jobs in the private sector would not materialize.

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The historic letter of president Joe Biden to Congress and to the American People shows what this struggle is about to defend and secure the rights of the working people and families of America in ways that Lincoln, Wilson, TR, FDR and Truman did in their day. To defend the American people from the intrigues and misinformation about where America's future lies, to defend the best hope of this and future generations, to defend the rights, freedoms and hope of free people everywhere.

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The controversy surrounding the statement by Trump following the hacking of the DNC emails and putting it out on the 1st day of the Democratic National Convention was covered widely. Trump said: "Russia, if you are listening, I hope you're able to find the 30,000 emails that are missing. Let's see if that happens." This coupled with Trump statements that he would not assure the Baltic Republics and other parts of Eastern Europe  that the U.S. would come to their aid in the event of a Russian attack have created new tensions in Europe. This has also led to heavy criticism from U.S. military commanders, from NATO leaders, and from leaders in the Republican and Democratic parties including Speaker Ryan. Some called it "a seismic development," and unprecedented, with involvement of foreign powers in the U.S. elections generally resented by the American people, according to experts.

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Key points made by Keir Starmer of Labour party during a 2 day visit to Berlin to meet Chancellor Scholz. Starmer says -Labour is ready to fight an election on the economy and win. Labour understands what it means to live with high inflation. He said "it feels like the Tories are like a football team dragged into the relegation zone and can see the drop, and are desperately trying to change the manager in the hope and belief that it will make a difference." "We're dealing with a cost of living crisis- people literally unable to pay their bills- and you've got a Conservative Party leadership race that is completely divorced from reality." Starmer says all the Tory leadership candidates should be challenged how they are going to fund their tax cuts and spending pledges- by borrowing or slashing public services. Labour will win respect at the negotiating table in any efforts to work with the EU to make Brexit work better. Its position on Northern Ireland will be well received in the EU.   ...

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NYT columnist David Brooks says Biden will be judged in the long run by what he has done to bring the two parts of America together that have drifted apart -one educated, affluent, city based and the other less educated, poorer, living in smaller towns and rural areas. One from the professional classes, and college educated that benefited from the tech boom, the other from working classes that felt the brunt of the shift of jobs to China. Biden is old enough to remember his emotional mentor Franklin Delano Roosevelt who faced a similar split America with farmers in small towns and workers who lost jobs in the Depression on one side and the smaller affluent classes of professional workers, small business owners in the earlier tech boom of the 1920's. Biden's father experienced unemployment and had experiences as a blue collar worker in Pennsylvania after business failures. It is an experience that has shaped Biden's views on America and the need to bring back hope after the pandemic that followed decades of neglect of working class Americans.   ...

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After the National Rally party of Le Pen wins 30% of the vote to Macron's En Marche 15% in EU elections, showing the unpopularity of Macron, Macron responds by calling for snap elections. Macron is taking an aggressive approach to stop NR party as so far  parliamentary elections in France  have led to voters on the left and right veering to the centre to avoid giving the far right National Rally of Le Pen a win. National Assembly elections also require getting 50% of the vote under different rules than EU elections.  Politico points out that the situation is different today as the NR is more in the mainstream of politics. Macron's hope is that the NR would increase its seat numbers from 88 but not as much, and that other parties such as the Republicains and the Socialist parties, the parties that governed France since 1945 would also make gains. He could then appoint a prime minister not from En Marche his party but from the Republicains party of Nicholas Sarkozy, French president (2007-2012), which supports Macron.  ...

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Germany's chancellor Merz says he is ready to finance Patriot anti missile systems for Ukraine July 10 2025, as Ukraine comes under heavy missile and drone attacks in July 2025.

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Vigorous and eloquent testimony before Congress by Treasury Secretary Scott Bessent, answering questions from Republicans and Democrats. Bessent had just landed from London at 3 am in the morning and after 3 hours of sleep took the time to answer over 5 hours of questioning by members of the House of Representatives. In question after question he explained how the certainty offered by the tax cuts bill would help small business and job creation in the US. The permanence of the 100% expensing of buildings and equipment would help farmers and small business , regulations would be cut, and manufacturing would take off. Manufacturing employs 9% of the workers in the US and their wages will rise faster than for service workers. The combined effects of the improvements for small business, farmers and for manufacturing workers will help the American middle class, America's working class, and increase the growth of the economy. Bessent points out that in the original bill of which the new tax bill is an extension the top 10% paid 7% more in taxes in 2017. He also points out that workers were hurt the most by the slower rise in wages and the rise in cost of living of 21% in 2021-2022, which he says was in essential goods with the actual impact of about 30%. With higher jobs creation by small business and more investment in the economy more able bodied men can join the workforce and gain healthcare benefits under new rules. He pointed to low inflation at 2.1% and to higher job creation, and to higher growth in the economy of 2.6%, that with other savings could lower the deficit. ...

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DJT White House Cabinet Meetings: Susie Wiles in tight cursive, Bessent writes "parallel prosperity" and "blue collar boom," on notepad, Lutnick says "why not copper tariff," DJT talks about why he is not fond of windmills. All the time a picture of Abraham Lincoln in a small four person meeting around a round table watches everyone. You have to have some humor in cabinet meetings. DJT brings humor to the White House, lightening up the mood, while he says new letters will go out to Japan, South Korea and EU, recalcitrant nations when it comes to negotiations for agreements, and Putin is voicing meaningless platitudes on his desire for peace.

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WSJ's Ben Worthen interviews Leo Apotheker of Hewlett-Packard. He talks about the resignation of four board members and the addition of five new board members, by citing a joke in the Swedish parliament in the sixties. In that joke one member of parliament says the best way to move driving on the left to driving on the right was to do it gradually. That is Apotheker's way of saying why it couldn't be done gradually. He says he doesn't let the propaganda about him by Oracle CEO Ellison bother him. What matters to employees is seeing him and talking to him, and he has gone on a round the world listening tour. He will focus on profitable growth, and he sees his industry in a technology transformation with the words "cloud" and "connectivity, that will change H-P. He sees the potential to do more in overseas markets, something his background from Europe helps him understand better. He would like to fill gaps in H-P's software capabilities and speed up bringing new products.

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Kenneth Rogoff, Harvard University economist, author of the well researched book on the 2008 financial crisis, "This Time Is Different," gives his thoughts on the economic prospects for the U.S under the new Trump administration. He says 4% GDP growth and 3% inflation is possible temporarily for a while with stimulus policies, less regulation, and increased private investment. After 8 years of not investing in much needed infrastructure because of concerns about the deficit, the timing is right for such investments, especially as the economic effects of the crisis of 2008 gradually fade.  This is about taking advantage of ultra low interest rates to invest in infrastructure. He says it helps that Trump policies are pro-business. He sees drawbacks as the stimulus program adds a 25% increase with extra debt, adding $5 trillion over 10 years, but adds that for many years Nobel prize winning economist Krugman and others have said that there is good reason to increase borrowing to invest, and this is now being tried. Inflation remains an uncertainty- if there are large quantities of underutilized and unemployed resources it would raise prices less than its effect to increase output. The reverse would apply if the U.S. economy is closer to full capacity. One factor that would help- increasing confidence for business and increasing investment. Against this what he calls optimistic view or spin, is the idea of mistakes under a Trump administration, errors made and a degree of incompetence which he says is a real possibility. Overall his view is that some risks are appropriate now, and from his deep study of financial crises sees the slow growth of the last 8 years a result of a financial crisis that now begins to fade, creating the possibility of higher growth under prudent policies.  ...

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Paul Ryan, speaker of the U.S. House of Representatives, wins the Republican primary in his house seat of Janesville, Wisconsin, defeating his challenger Nehlen, by 84% to 16%. The Republican nominee Donald Trump earlier had refused to endorse Ryan, and only reluctantly endorsed Ryan following the vice presidential nominee Mike Spence's endorsement of Ryan. Senator Susan Collins, senior Republican senator from Maine, joined other leading Republicans saying she would not support Trump. Paul Ryan has split with Trump on trade, immigration, Mexico, and other issues. He has insisted on decency and fairness in politics, and has won his seat in a working class town that had a closed GM plant in 2008 after Ryan voted to support rescue of the auto industry and worked hard to keep it open. Even though some of his policies have not directly helped working class families, he has won increasing support from his district as the economy recovered with unemployment down to 4.4% in Janesville, according to BLS for May 2016. Much of that support since 1998 has been based on Ryan's decency, faith and family. He made it a condition that he would go back on weekends to Wisconsin to stay in touch with people, when he accepted the position of Speaker of the House, and he listens to local concerns. Ryan said about the national discourse- "It's simple to prey on people's fears. That stuff sells, but it doesn't stick. It doesn't last. Most of all, it doesn't work." His job in today's deteriorated national discourse is as vital as ever, both for Wisconsin as representing the best in the national spirit, and for the country.   ...

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The U.S. vice presidential debate between Mike Spence and Tim Kaine showed Kaine focussing attention on Trump's crude attacks on women, praise for Russian president Putin, and opposition to the minimum wage. Spence's tone was measured and his focus was on deflecting the attacks on the crude language used by Trump in the campaign by saying Trump was "not a polished professional politician," like the others, and not responding to the Kaine references to Trump. Spence stuck to issues about immigration open borders, abortion, president Obama's inaction in Syria, the plight of workers in Scranton, Pennsylvania. He did not respond to repeated questions on Trump's failure to disclose his tax returns and his business failures leading to close to a billion dollars in losses and not having paid taxes for 18 years, as disclosed by the New York Times. Spence had to choose between hurting his own chances for reelection with the traditional Republican voters alienated by Trump and standing up for Trump's crude language against women and minorities. He deftly tried to the best using his skills as a radio broadcaster. Kaine who is usually more measured and thoughtful, had to choose between his traditional style of speaking and the role he was expected to play bringing to the public's attention the crude language and style of the Trump campaign and the instability reflected in it. He used his skills as a litigator to ask repeated questions on Trump, especially on the taxes, which leads to questions about funding infrastructure development and jobs without the wealthy paying their share of taxes. ...

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US president DJT meets with Rutte of the Netherlands Jan 21, 2026. He says he has come up with a framework for US acquisition of Greenland, rights title, and ownership of the island for US security and world security. He called for immediate negotiations with the goal of US acquisition of the island of Greenland.  The political situation is evolving in this way. Germany is key in the developments for the US to acquire Greenland. Britain is standing it out with the Nordic countries as Starmer has shifted to the side of Sweden and Denmark with little to gain for the Labor government which is facing local elections and popularity of Reform UK Party. In this situation Italy and Germany have taken a posture of not making any statements. Germany facing Russian intervention in Ukrain on the east needs the US for joint security at a critical juncture when Russia and the US have agreed to respect each others area of influence. Italy is run by a northern Italy party leaning to the anti-immigration stance taken by DJT in the US. It makes little difference to Netherlands, Germany/Austria/Switzerland and Italy who controls Greenland and in the context of Russian advances and nuclear weapons technology would prefer US move to acquire Greenland and rapidly build up defenses in Greenland with large investments. To not disturb the alliance's northern countries (Britain and Nordics) Germany has taken a back seat to the rhetoric yet will be in the deciding role because of its stable government, support from all parts of the political spectrum for US control of Greenland except for the coalition junior partner the SPD. The SPD Defense Minister Pistorius may form parts of the SPD that see US owning the island as positive in the bolstering of its defense capabilities with th $1 trillion outlay in the budgeted investments. Starmer may have misread DJT and US support as the US president can make a very good case for US owning Greenland and getting Denmark to accept the offer of Harry Truman of $100 million made in 1947, updated for what that sum is today which is $1.5 billion. As DJT pointed out Macron has no longevity for his government in France, and cannot speak for that country. As Treasury Secretary Bessent who along with Rubio is part of the team that will work with the president says, Denmark is irrelevant to the issues US faces for US and world security. It is a small country, Denmark, with a population of 6 million most of it in the area near Copenhagen. Houston or Dallas has a much larger population. For Denmark to decide on momentous issues of US security for the entire eastern seaboard or world security, with ownership essential for the US,  when climate has made the Arctic important, is something the US does not accept.   ...

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The Guardian shows pictures in both black and white and in color from the last 50 years of US president Joe Biden. The first picture is a black and white picture from 20 November 1972 showing him cutting his 30th birthday cake with his wife Nelia, sons Beau, and Hunter. He is shown taking the oath of office for the Senate as he turned 30 the youngest senator and now the oldest former senator to be president. On the Metroliner Amtrak in 1988. He spent decades riding Amtrak to Washington D.C. He campaigned with Jill Biden for president in 1988. Not till the extraordinary situation of the pandemic in 2020 did Americans who largely ignored him give him the opportunity to lead- and at what a time when the Nation desperately needed his vision and his leadership through the largest vaccination program in history with the exception of that in India. And following this with his skills in Congress to get the legislation passed with Republicans for trillions of dollars to go into aiding families recover, and the economy to recover, investing in chips and science, and in infrastructure in ways that have happened only three times in American history, first in the early days of rail transforming a largely agricultural country during Lincoln and Grant's years as president in 1860's and 1870's, and again during the TR, Woodrow Wilson years in the 1900, 1910 period, and in the period under FDR, Truman and Ike 1940's, 1950's. No other country recovered better and stronger, and yet because of the lingering effects of the pandemic with 1 million dead from the Covid virus, and increases in the cost of living even as inflation was brought down from 9% to 3% for reasons stemming from unwise decision of American business to concentrate the supply chain in China, from housing and automobile price increases, the Nation did not immediately grasp the sheer magnitude of what had been achieved. ...

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Jasprit Bumrah's careful bowling, Axar Patel taking great catches, and batting of Samson, Ishan and Abhishek, take India to a 96 run win over New Zealand at the Narendra Modi Stadium in Ahmedabad. Samson was super consistent in his batting hitting 89 runs twice and hitting a similar score against England, all in the last 3 crucial games India played. For this he ends up Player of the T20 World Cup and Bumrah the Player of the Final aginst New Zealand. New Zealand's batter Allen could not find his form in the Final and the duo of Siffert and Allen that beat South Africa by setting up an opening century partnership failed to find any traction on the pitch at Ahmedabad and were out early. 

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Borg Brende, a former foreign minister of Norway, resigns from leading Davos Economic Forum over Epstein connections- astonishingly he interviewed Merz other leaders on Davos Forum broadcasts. This is one more reason that Davos or Switzerland is not where one should look to or for a real understanding of what is happening in the world that extends to places that have little in common with Switzerland, and look very different, from Japan to India and China, from Spain to Italy, and from Canada and the US to Britain and Australia, from Brazil to Chile and Argentina. So many other forums exist and so much happens there, there is also the G-20 and other world gatherings, and meetings of regional leaders where so much more happens.