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Many small, high growth companies in China have listed on US stock exchanges through back-door mergers with shell companies. The questionable practice are in the "reverse takeover" market for Chinese listings. It involves networks of accountants, lawyers and bankers helping to bring these Chinese companies into US stock markets. Some of these companies have minimal revenues, questionable accounting and no clear corporate governance. By mid 2010 about 340 Chinese companies were listed on US stock exchanges and were using small largely unknown US auditing firms, who were contracting the work back out to local Chinese firms, according to the SEC's chief accountant. The SEC is conducting an investigation into this practice. The House Financial Services Committee is looking into this, especially because it is feared that with the interest in Chinese listings there is the opportunity for self-dealing and potential fraud. Says Rep. Chris Lee: "I don't want this to be a junior Madoff scandal."...

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The failure of colleges and universities in the U.S. to control costs and lower the tution burden for parents and students. Student debt crosses $1 trillion in the U.S. in 2012. This is likely to hurt consumption and new home sales and lower the prospects of economic recovery.

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How the French health care system works. France comes in first and the USA 37th in aWHO health care ranking. THe difference in deaths from respiratory disease is half that in the USA, and lower rates of death from heart disease and diabetes. IT has more hospital beds and doctors per capita than the USA. 65% of French people are satisfied with their health system compared to 40% in the USA, and yet France spends 10.7% of GDP on health care and the USA spends 16% for poorer results. THe French system is more generous to its seniors. Unlike Medicare there are no deductibles, just modest co-payments that are often dismissed for chronically ill. And diabetes and critical surgeries are covered 100%. French also buy supplemental insurance like Medigap for extra expenses like dental and eyglasses. Cancer patients are treated free of charge. Avastin treatments costing $48,000 a year are provided at no charge. France's PMI or Protection Maternelle et Infantile, is rated highly. It is anetwork of thousands of healthcare facilities, that ensure that every mother and child in the country receives basic preventive care. Mothers even receive afinancial incentive for attending their pre and post natal visits. France makes this care affordable by reibursing doctors at a much lower rate. The average yearly net income for doctors is around $55,000, about athird of what doctors in the USA make. But French doctors don't have to pay back huge student loans as medical school is paid for by the state and malpractice insurance premiums are only a tiny fraction of that in the USA. And again the French government pays two thirds of the social security tax for most French physicians- which is typically 40% of income. So the $55,000, is more like $92,000 taking that into account and more like $110,000 when student loans and malpractice is taken into account at US levels. Specialists who have 4 or more years experience can charge what they want, but as one gastroenterologist says, there in an unspoken and undefined limit to what you can cahrge or what is socially acceptable. Yet even in France there is inflation in health care costs that the government deals with through price controls and more spending. The French national insurance system is running increased deficits each year and this is now $13.5 billion, and it has led to higher taxes for employers and workers. ...

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The Haqqani network based in Afghanistan and Pakistan is a key part of the Taliban forces in the tribal areas along the border of Afghanistan and Pakistan. It has ties to Pakistan's Intelligence Service. The Haqqani network was behind an attack on the U.S. embassy in Kabul on Sept. 13, 2011.

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Congresswomen presented a small sea of white in the House chamber as 131 Congresswomen dressed in white the color of the women's movement for suffrage, the women's vote, and equal rights. Women wore white vests, capes, jackets and suits. Behind Mr. Trump the Speaker Nancy Pelosi was also dressed in white. Mr. Trump shouted congratulations amid wide applause.

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David Brooks on the contrast of old stye politics with flamboyant displays of emotion of Joe Biden and the more restrained expressions in today's world with policy focussed candidates such as Paul Ryan. This was on ample display in the 2012 U.S. vice presidential debate. Brooks says independent voters may be turned off by a confrontational attitude, especially now that bipartisanship will be important to navigate through the challenges presented by debt and the deficits. These independent voters will also be looking for a credible plan to turn the economy around in the next four years.

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New restrictions in parts of New York, Queens and Brooklyn soon after schools reopened. Certain zip codes will have schools closed as a second wave is expected.

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How returns in the U.S. stock markets of over 30% in 2013 change the picture of five year returns to the end of 2013 compared to the end of 2012. Long run has to be much more than 5 years and even longer for decent returns.

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The 2010 census shows the Asian and Hispanic population increased in New York city. The Asian population was up 31.8%, adding 247,900 people compared to the 2000 census. The Hispanic population increased 8.1%, adding 175,500 people. The black population declined 5%, dropping by 100,859. The city now has 33% non-Hispanic whites, 29% Hispanics, 23% non-Hispanic blacks, and 12.6% Asians. The total population of New York city increased by 2.1% to 8,175,100 according to the 2010 Census count.

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The four decades of Libyan rule by Moammar Gaddafi that started in 1969 with a 27 year old Bedouin officer in the Libyan army ousting King Idris. It led to change in Libya in the first decade but deteriorated in the next three decades. Libya's support of terrorist groups and plane bombings of Pan Am flight 103 over Lockerbie, and other actions, led to a UN embargo of Libya. The rule of Gaddafi in Libya, as of Mubarak in Egypt led to economic stagnation and suppression of civil liberties, followed by repression, which delayed the development of the Arab countries for several decades. The move from a monarchy to the rule by military officers turned out to be a disaster for the Arab world over these four decades.

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It used to be in the past that growing more food would address the problem of malnourishment. After years of decline of malnourished people BBC shows that the trend is reversing and there will be 821 million malnourished people in coming years. The reason for this is that of the thousands of crops that were known to humankind from its beginnings we are down to about 100 and about 40% of people on the planet rely mainly on 3 crops- rice, wheat and corn. The result is a lack of necessary micro nutrients in today's diet. What we plant, what we eat matters, changes in agriculture have a significant bearing on the quality of our lives, and concern all of us.

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Three events made the US a continental democracy built out of the colonial Empires of the British, the French and the Spanish under four presidents- Jefferson with Louisiana Purchase, Polk settling the Mexican American War, Lincoln defending the Union, and his vice president buying Alaska from Russia. James Polk 1845-1849 was the 11th president of the US. At the time of the Missouri Compromise he deftly kept the Union together. A protege of president Andrew Jackson from Tennessee Polk also worked hard to create the bicoastal Nation the US is today by extending the work of president Jefferson who setup the Louisiana Purchase from Napoleon, to bring the new Republic's frontiers in the West to the Pacific territories that were part of the Spanish and British colonial Empires. For the northern frontier he settled on the 49th parallel with the British instead of 54 degrees parallel 40 minutes or 54-40 that was the slogan for the Polk 1844 election campaign taking the border to the northern frontier of the Oregon Territory.  Polk was faced with settlers in Texas who had set up their own state in the south the Texas Republic under General Sam Houston in 1836. A situation Polk handled by integrating the new Texas Republic into the new Nation and faced with a military taking control of Mexico in 1846 under General Paredes and confrontation with the US, leading the US into the Mexican American War 1846-1848. The integration of Alaska was completed under president Andrew Johnson in 1867- Johnson was Vice president under Abraham Lincoln during the Civil War- when he had Seward negotiate the purchase of Alaska from Russia for 7.2 million dollars in 1867.   ...

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It comes as a shock to central banks and is pressuring governments- the food price explosion that won't go away even as energy prices are moderating. OECD graphs in this WSJ report show food prices up in 2023 over the prior year by 15-20% in France, Germany and Britain, compared to 5-10% in the US, Canada and Japan. In France households have cut food purchases by 10%, and in Germany by 10.4% over prior year in the largest drop since records were being kept in 1994. In Britain the statistics agency shows that 40% of the poorest 20% of people are cutting back on food purchases. Ludovic Subran who worked at the UN World Food Program says it is an "access problem." Food production has not dropped, people just can't afford to pay the prices. In Britain The Resolution Foundation says higher food prices since 2020 means the British public by summer 2023 will have to pay more in food bills $35 billion more than the 25 billion pounds for energy bills. Policymakers call higher profit margins by retailers as a possible cause as in world commodity markets food prices are falling since April 2022. Andrew Baileyof the Bank of England says it is the "fourth shock to inflation" after the supply chain bottlenecks, the energy price increases from the war in Ukraine, the tight labor markets. In Italy, Spain and Portugal governments have offered sale tax relief, in France and the UK government is leaning on retailers to curb price increases. ...