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Hong and Inman describe the deep experience in capital markets that Hong Kong has and Shanghai lacks, which China needs for further development. Even before the handover capital markets in Hong Kong have helped China, and many of China's largest companies have listings in Hong Kong. Hong is also the laboratory for China to make financial innovations for the last three decades, because of capital account controls on the mainland. A bad bank Cinda Asset management Company only recently raised $2.5 billion for buying non-performing loans from Chinese banks. Hong Kong's separate status within China, its Briain based legal system which has credibility in the international community, the rule of law, independent judiciary and independent police are critical to how it developed into an international financial hub for Asia. Any crackdown on protestors would disturb this arrangement. As China has already promised universal suffrage in 2017- which implies free elections not limited by restricted nominations as is now proposed in a change in 2014- and the Basic Law passed before the handover by Britain in 1997 also ensuring this, any retraction is only going back on past promises. A crackdown would create fears about Hong Kong's future autonomy for international financial institutions, and the bad publicity for China would affect Hong Kong and China adversely. ...

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Independent contractors rule reinstated by DJT administration following employee status push by Biden and unions. This affects 11.9 million workers in the US. Independent contractors cannot unionize and lack some of the protections of labor law. The independent contractors get to choose where they work for remote work days and get to choose the projects they want to take up, set their own hours which can help for childcare or care for parents. It includes workers in real estate, construction, arts, design, and personal care, where most of these independent contractors work. Only a small part is in Uber drivers or DoorDash delivery gig workers. This Editorial Board opinion in Wash. post cites Bureau of Labor Statistics that says from a 2023 survey that 80% of this worker group prefers independent contractor work to full time traditional employment which has less flexibility.

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100 ships pass through Straits of Hormuz daily 5-6 daily in March 2026. BBC Verify looks at the kinds of ships from India, Pakistan, Iran, and Greek shipping that have made it through the Hormuz shipping lane.  Some of these ships go close to the Iranian coast and not in the middle of the channel. The mountainous terrain along the coast, the peculiar geography of the channel have made it difficult to secure the Straits of Hormuz for international shipping . The channel is itself narrow at one point about 24 miles of water separating Oman from Iran. The shipping lanes are 2 miles wide, a separation zone of 2 miles between inbound and outbound ships. This makes it hard to secure from fast speedboats, missiles, and drones without securing both sides of the channel on mountainous terrain. 

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There are about the same number of borrowers 3.6 million instead of 3.4 million yet over 10 years Parent Plus Loans have grown by 61% or $44 billion to a whopping $115 billion burdening parents and students. Yet no one mentions that it is the colleges that are causing much of this increase with their failure to control costs. The government is now stepping in and it is up to parents to do their homework on school value so that this overburdening with debt that colleges take for granted becomes a thing of the past. If colleges cannot control costs they should feel public dissatisfaction and be ruled out. Colleges and Universities act as if they are not in a market system economy where costs cannot be simply passed on, costs have to be managed or consumers of a service will turn down that product.

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Brazil's GDP increased by 0.34% for the 4th quarter of 2011 from the prior quarter. For the full year GDP increased by 2.7%, with an actual decline in GDP for the third quarter of 0.1%. The GDP growth for 2010 was 7.5%. The slowing economic growth reflects an overvalued currency, weak manufacturing competitiveness, and inflation. Brazil's growth will be lower than potential say analysts, and it will be tough to get to even 3.5% growth in 2012-2013. A similiar process is seen in other emerging markets. China's premier Wen Biao announced lower growth targets of 7.5% and a shift in priorities recently. And India's growth rate for 4th quarter, 2011, was 6.1%.

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Questions about the true cost of the Obama health care legislation and the assumption that the legislation cuts the deficit by billions of dollars. This WSJ editorial says one has to look at this closely, and not merely look at CBO projections, which may be based in a certain context and not reflect the true costs, especially because many accounting gimmicks and use of numbers to present a particular picture is taking place. The information this editorial cites is that: it uses 10 years of taxes to fund six years of subsidies, Social Security and Medicare revenues are double-counted to the tune of $398 billion, a new program funding long-tem care frontloads taxes but backloads spending, and the assumption of an automatic 25% cut to physician payments that Congress is unwilling to authorize. Rep. Rand Paul has tried to present an alternative view which needs to be studied just as closely, because of the enormous impact of a jump in spending at a time when the public finances are fragile. WSJ also cites the work of Richard Foster, the chief Medicare actuary, as an alternate perspective of how things could turn out, Doug Holtz-Eakin, and Eugene Steuerle. It calls for common sense in evaluating programs, entitlements, defense or other government spending. They not only cost money, but costs escalate over time as history has shown over decades, till they eventually are discovered to be not affordable unless the middle class is willing to dig deeper into its finances to pay for them. Alternate perspectives from a range of informed opinion, Howard Dean, Martin Feldstein, and the head of Harvard's Medical School show that the issue needs to be looked at closely and carefully and cannot be something in which CBO numbers can be trusted to tell the whole story. Especially when common sense, history, and informed opinion across a spectrum of thought advises caution, and fragile public finances also suggest caution. Howard Dean, former Governor of Vermont, says the health care bill is not real reform, and may do more harm than good. He says in a Washington Post article, December 17, 2009, the Obama health care bill does not insert competition into insurance markets, does not significantly reduce costs, and does not improve the delivery and use of health services. It was he says done with a political calculus and crafted for votes not real reform. Jeffrey S. Flier, Dean of the Harvard Medical School, gave the Obama health reform bill an "F" grade, saying in a Nov 18, 2009, WSJ article, that it was disingenuous to call this reform, Congress and the White House were simply deceiving the public. He said the bill will accelerate US health care spending, postpone most of the major health care problems, expecially the ones that drive cost, including the "fee for service" system and delivery of health care. He says in his discussions with economists and other health care leaders the opinion was unanimous that the bill will accelerate health care spending. He cites Massachusetts as an example, where access to care was expanded under the same dysfunctional system, and spending went up, and it doesn't work. Feldstein, who in early 2008 suggested proactive solutions to the mortgage debt crisis which were never adopted, says that the Obama health care law means higher taxes in the long run to pay for the $1 trillion cost of health care for the uninsured group over 10 years. Feldstein says that the Obama plan is to cut Medicare to cut spending, and will reduce the amount of medical services, as reduced spending comes from fewer services, not reducing payments to providers. And he asks if the cost reductions are weighted too heavily towards reduced services and not reduced payments to providers ,would this result in large cuts to services to affect the quality of healthcare for the 85% of the American people who are accustomed to a different pattern of healthcare. ...

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Britain's prime minister Theresa May finally spells out some of the costs to Britain's economy in following Brexit and leaving the European Union. The EU's Barnier made it clear that Britain would not be able to choose what it wants out of the negotiations. As May put is "there will be consequences for our market access."  So far May preferred ambiguity so that she could reconcile the conflicting factions in her Conservative party. The Labor Party in the Opposition and the EU have called for clarity on the issue of Northern Ireland, with the EU saying Northern Ireland would remain part of the EU customs union, and the Labor Party's Corbyn saying the fragile Ireland peace accords must be preserved and Ireland should have an open border. May did not clarify on the Irish issue. However her new remarks clarified that much of what exists today in cooperation inside the EU would be preserved to minimize negative consequences of Brexit, and Britain would also continue to be affected by the decisions of the European Court of Justice. Barnier says he welcomes May's explicit recognition for the first time of the tradeoffs involved in doing Brexit, something the pro-Brexit faction within the Conservative Party under Boris Johnson has tried to ignore. Experts including Bank of England governor Mark Carney have stated that Brexit will leave Britain's economy poorer.   ...

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This report in WSJ says at an event in Germany in 2022 Merkel said that after annexing Crimea in 2014 Putin told her he wanted to destroy the European Union. Yet Merkel did not hesitate to double gas imports from Russia after 2014. Joachim Gauck, president of Germany when Putin invaded Ukraine in 2014 says Merkel's decision to boost energy imports from Russia after that aggression was surely a mistake. Gauck stated "some people recognize their mistakes earlier, some later. Her decisions for over concentration of Germany's manufacturing in China led to a similar situation with China that is only now beginning to unravel. The two decisions overconcentration of energy dependence on Russia and manufacturing dependence with overconcentration in China have had interwoven effects and shows Merkel did not grasp the implications and dangers of overconcentration or excessive dependence on any one country. Merkel instead doubled gas imports from Russia and had the Nord Stream 2 pipeline built at a time when Germany was already 55% dependent on Russian imports of energy. She moved too quickly to phase out nuclear energy completely after Fukushima accident leading to Russian gas imports rapidly increasing. When leaving office she said LNG which Germany has now used to replace Russian gas from places such as Norway to Qatar under efforts of Deputy chancellor Habeck was a third more costly.  It could be said that with her sheltered upbringing in the more affluent sections of Communist East Germany's, the GDR's, educational sector, Merkel had such limited exposure to the world that when she emerged as Kohl's preferred choice in ministry positions she was headed for the chancellorship without the right qualifications for leadership. When one considers the experience of an Konrad Adenauer or a Willy Brandt through the World War II years, Merkel's experience for the chancellorship not only pales by any comparison, but also shows significant limits of comprehension and sound or right thinking of the issues facing Germany and the world in the twentieth and twenty first century. ...

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$2000 rebate to all Americans to help meet cost of living concerns is put forward by the US president. This would put the tariffs revenue to good use to achieve the goal of bringing back manufacturing and supply chains to the US using tariff policy. This is to counter other nations use of subsidies and other ways to put American manufacturers out of business in industry after industry for 30 years by pricing way below US producers. The rebate would offset the domestic effects on US consumers of products imported with tariffs, which are priced somewhat  higher because of the tariff even though most of the tariff is borne by exporters. The end result is the goal of bringing the product manufacturing for these products back to America, where manufacturing was shipped overseas through the shortsighted behavior of American producers since 1990, mostly to China. The WSJ takes no responsibility for this behavior of American corporations, and does not see this complete dependence of the US on overseas supply chains as a threat to America being able to conduct and independent policy for the Nation based on its own interests. For 30 years the WSJ and American economics profession has adopted the view that it does not matter if product after product is made in another country, or in only one other country as is the case with China as the sole manufacturing superpower in 2025. Who made China the manufacturing super power? Who ignored warnings of concentration of manufacturing in one place? It is these same economists and media such as the WSJ that have through their willingness to ignore these concerns even when it comes to advanced technologies that has made China the superpower in manufacturing it is in 2025. DJT and most of America is fighting a battle to bring these supply chains back to America knowing this is best for America and the American people. It is owing to this new spirit that once mighty industrial towns that had fallen to new lows are making a resurgence in the US- an example is in today's Washington Post report by Irina Ivanova with the title- An Old Manufacturing City sputters back to life, Nov. 11 2025. ...

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Joanna Stern of the WSJ uses the original iPhone that came out in 2007 for one day in June 2017 and sees how it felt to use the introductory version. The original one worked on a 2G cellular network. It took about a minute for the president's Twitter feed to fully load in the old phone's Safari browser, it now takes 5 seconds. A lot has changed with the smartphone revolution in ten years. Lunch spot search results, Stern points out, might take longer than the time to eat lunch in the Maps App with that old phone. No emojis, predictive text, no Siri, and no third party apps, no Apple Music or Spotify, all that came later. The 2 megapixel camera took decent shots but not without good light. What is useful in Joanna Stern's little experiment is that it makes one reflect on how quickly people forget, how so much is now taken for granted as smartphones change the way people live their lives and interact with technology on a daily basis. Not mentioned here is how common smartphones have become with the Android versions made in China offering so much more for the budgets of ordinary people. And how it has changed the lives of billions of people in China, India, other parts of Asia and Latin America, bringing them into contact with the outside world. What is also interesting in this sense is that what took a huge effort over many years and many disappointments- the idea of a touchscreen that works- shows what an idea and the courage to persist in the face of innumerable hurdles can accomplish. See the link to how  Steve Jobs accomplished this. Daisuke Wakabayashi talked with Apple engineer Greg Christie in his article-"Apple Engineer on iPhone's Birth," Wall Street Journal, March 26, 2014. Christie had worked on a digital personal assistant at Apple in 1996, one that had tried the first touch screen Apple made. The device failed in the market. In 2004, eight years later the touch screen is the idea Jobs had Christie work on again. Many frustrations and obstacles later the first smartphone was developed by 2007. It took 10 years and undaunted effort which is the Apple story under Jobs. ...

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The Mission LIFE launched by pm Modi in Gujarat in 2021 has achieved significant results-

"Under Mission Life our efforts are spread across many domains such as: Making local bodies environment-friendly, saving water, saving energy, reducing waste, and e-waste, adopting healthy lifestyles, adoption of natural farming, promotion of millets." 

"These efforts will save over 22 billion units of energy, save nine trillion litres of water, reduce waste by 375 million tons, recycle almost one million tons of e-waste, and generate around 170 million dollars of additional cost saving by 2030," he said.

"Further, it will help us reduce the wastage of 15 billion tons of food," Mr. Modi said, noting that the global primary crop production in 2020, according to the Food and Agriculture Organization, was about nine billion tons.

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This report in WSJ looks at the impact of the 2018 Trump tariffs retained by president Biden as the US seeks to reduce its overdependence on Chinese imports and bring back American manufacturing. This followed misguided policies of previous administrations since Clinton that weakened American manufacturing strengths. Have the US tariffs on Chinese goods worked? The WSJ graph with information from US Census Bureau shows that imports from China in 2022 going down to the levels in 2007 of about 16-17% as a share of US imports, down from a high of 21% before the Trump tariffs halted a rapidly rising curve. Imports from Germany, South Korea and Japan in 2022 were down slightly hovering around 4.5%. Imports increased from Canada and Mexico, the US's traditional partners in North America, around 13.5% as a share of US imports for each country. Also increasing were imports from Vietnam. Some of the imports from Vietnam are Chinese products shipped through Vietnam to evade tariffs, and it is not clear whether the figures from Vietnam have been adjusted for this. President Biden is looking at different scenarios in an effort to tackle inflation. One supported by Janet Yellen, an economist at US Treasury is for the US to relax some of the China tariffs. Most economists in previous administrations including Yellen failed to understand what surrendering American manufacturing to China on the scale and speed that happened would do to communities across America that depended on factory jobs. The devastation of these communities has led to increased divisions in America, weakened American manufacturing, and led to outflow of technologies vital for national security and national well being.  Republican senators, US Trade Representative Katherine Tai and National Security Advisor Jake Sullivan are opposed to any relaxation of tariffs. Studies show the removal of the tariffs would have only a small impact on the consumer price inflation index reducing inflation by 0.26%. Lifting some tariffs on school supplies and summer bicycles as proposed by the US Chamber of Commerce would have little or no impact on the consumer price index for inflation. This is because the inflation is triggered by oil and gas price increases stemming from the Russian policies and invasion of Ukraine. This has also aggravated food and grocery costs  through blocking of agricultural imports from Ukraine. An additional factor was the increased demand after the pandemic easing in 2022, but that demand is already easing in July with glut in inventories at Walmart and Target, and excess warehouse capacity at Amazon. It would also send the wrong signal to China that the tariffs imposed by president Trump after a Section 301 trade investigation and based on improper loss of technologies to China are not being taken seriously by the US, says Republican Senator Hagerty of Tennessee. The Labor advisory committee to the US Trade Representative Katherine Tai also opposes any such move after the serious damage done to US workers and to US national well being and security. This happened under the Clinton, Bush and Obama administrations with failed trade policies that ceded manufacturing to China. ...

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Church membership in Germany declines to 45% in 2025 from 69% in 1995. 611 churches in Germany close since 2000. This report shows a church converted into a bicycle shop. The Protestant and Catholic Church have lost over 1 million Christians from deaths and people leaving the church.

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How marijuana in schools poses a problem in US schools- pot in class reduces diligent work in classrooms. Costly policy errors that are producing ill effects in states hitting health, education and the American spirit- poor performance in schools and deficits in attention, says this report in WSJ.

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Three things to know about American EV's - 300,000 leased cars on market in 2026,  EV's cost comparable to hybrids,  28% jump in sales 2025 to 2026 and 6.2% increase in wholesale price. Even without incentives for EV's more manufacturers are putting EV's into the market. This reviewer says the EV Batteries are quite good overall and hold 92% of the charge overall and there are ways to get the condition of the batteries for the leased car that is available. He also says for the amount of driving most people do around the city one EV charge is sufficient. If one does a lot of travel driving to other places hybrids and gasoline cars are the typical choice.

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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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Bret Stephens in the NYT points out that the Iran Nuclear Deal did not have the support it needed to become a lasting agreement. He cites a Pew poll at the time of the deal showing 21% supporting it and 49% not supporting it. It lacked the two thirds support needed in Congress for a treaty to be passed. It was a J.C.P.O.A. or Joint Comprehensive Plan of Action not an Executive Agreement or a Treaty, says Stephens. France initially called for stronger safeguards so that the Agreement would limit the development of nuclear weapons. Only later did France and the EU come into acceptance of the deal.  Stephens points out the efforts to renegotiate the deal coming from the EU, and cites this as showing that a better deal could have been negotiated. Since the deal the conflicts in the Middle East have continued to grow, so that the constructive developments of advancing Iran's economic development and reducing the role of military conflicts were not addressed, say experts skeptical of the deal. ...

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Relevant to British India and Gandhi in 1921 was this story about the Irish Conference and the setup of the Irish "Free State."  Also relevant  to  Nivedita, (N of RVk) from Ireland. How the Irish Conference achieved what had baffled generations of Irish and British people for two centuries is shown in this article in The Times on December 7, 1921. After centuries of British rule the Irish Free State was agreed on, and the state that is today Ireland and  a member of the European Union established. The Times says Sinn Fein rightly agreed to see this as a first step to the eventual unification of the island, not as as agreeing to partition of Ireland. It says- "An agreement was reached yesterday morning that ended the secular feud between the British and Irish peoples forever." A feud that lasted for centuries under British rule of the island of Ireland. It also says Sinn Fein leaders had proved themselves to be "courageous statesmen," and added- Instead of pursuing the shadow of an Irish union enforced by legislation, they have boldly played for the substance. Enemies of peace may allege against them that they have consented to the partition of their country. But to any such allegations they have a reply. The scheme to which they have consented brings Irish Union at an early date into the field of practical politics. No other scheme that Ulster would have agreed would have brought union nearer. Sab ka vikas, sab ke sath, sab ka viswas offers the path to a settlement of differences in Indian subcontinent to bring together in peaceful cooperation and development all parts of India that were pulled together and reconstituted under British rule and arrangements for democracy in 1910's and the 1930's, 1950's with the right to vote for self government. Ireland has also setup a similar arrangement for cooperation in the spirit of development on the island.   ...

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A group in the Tory party of prime minister Johnson sees a bigger risk for Britain in allowing 35% content in nonsensitive parts of Britain's 5G network as approved earlier. Tory views have changed since the coronavirus crisis and after the U.S. government decision on May 20 to require a government approval before U.S. companies can sell any semiconductors made abroad with U.S. technology. The use of other alternatives increases the risk for Britain, say Tory MP's. The National Security Council met to reconsider the earlier decision and called for a reassessment.

Britain would be left out of the Five Eyes Club of intelligence sharing with the U.S. if it does not also exclude Huawei from 5G networks. Mr. Trump says the U.S. will not share intelligence with Britain if it continues with the earlier decision.

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Under the current bankruptcy settlement plan of Judge Rhodes bondholders would get $1 for every $5 and pension cuts for ununiformed workers would be about 30%. A library clerk for example could see a pension cut of $400 in a $1400 pension. Retired Detroit firefighters and police would see smaller cuts of 10%. The Detroit bankruptcy is being closely watched as other cities an local governments are facing similiar problems. As part of the plan $1.5 billion would be spent on reducing blight and improvements in the city. About 40% of Detroit streetlights are broken and police response time is about 1 hour. One reader says the unions sent companies to low cost regions and stuck Detroit with the bill. After the bankruptcy of GM and Chrysler the city shaw a sharp decline and many people left the city reducing its tax base and worsening urban blight. The events in Detroit are being watched around the country and had an impact in the vote at the VW plant in Chattanooga, Tennessee, where former mayor Corker cited the situation in Detroit as an issue....

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Baden-Powell was founder of the Boy Scouts which has given millions of boy scouts throughout Asia, Australia, Africa, Latin America and North America a sense of purpose when they were attending elementary and secondary school throughout the twentieth century. For girl scouts it added confidence to girls and enabled them to grow in many ways.  So it comes as a surprise that Baden-Powell is seen in this way. Gandhi never questioned British rule directly during the period when he fought for human rights in South Africa during the period 1893-1915. During the Boer War in 1900 Gandhi volunteered to form the Natal Ambulance Corps that as stretcher bearers helped treat British soldiers in the Boer War. He was given the Queens South Africa medal. In the Zulu war he repeated this by being part of the ambulance corps supporting British troops, but also treated Zulu wounded. Gandhi acted as a loyal part of the British Empire and throughout most of the period into the 1920's acted with loyalty to the British Empire. Few questioned British rule at the time, and Gandhi followed Gokhale's advice in 1915 as he returned to India at the age of 45. Gokhale was a moderate who accepted the British rule in India and sought provincial assemblies and self-rule under the British Empire. Gandhi's whole thinking was shaped by British traditions, British laws, British democracy, having attended a British school in Rajkot, Saurashtra province of Gujarat state. The letter helping him make his move for education as a barrister in England came through the British political agent in Rajkot, who was a friend of his father, the Diwan of the princely state of Porbander, Gujarat. Even Swami Vivekananda was helped by leaders of princely states in Saurashtra who pledged loyalty to the British Empire in India, one of whom was a close friend who helped Vivekananda come to America. It may be too easy to look back and make everything look good, when in reality it is complex, but yet ordinary human beings are in search for the right path. As Vivekananda's guru said you will still get there but "it is good to travel by a clean path." I visited the Gandhi home and museum in Porbander in September 2019. Driving in along the Saurashtra, Gujarat coastline we hit a rainstorm and when we reached the home it was in heavy rain. After visiting the home I went to a small bookshop in the museum and came across a copy of a small book Gandhi wrote in 1910 on a steamship back to South Africa from London, with the title- "Hind Swaraj or Home Rule." That little book written in the form of a dialogue between the reader and the editor by Gandhi amazes me as it was the basis of the movement after 1915 all the way into the 1930's. His clarity of thinking and his sincerity and steadfast purpose was such that it stood the test of time. Gandhi even goes as far as to say the English did not take India, India was given to them, given to English traders as Indian princes vied with each other for the favor of Company Bahadur, British forces designed to protect the East India Company's warehouses. That they remained in India for the purpose of trade and Indians helped them to do so. To blame them was for Gandhi to perpetuate their power. For him British arms and ammuniton were perfectly useless.  Gandhi writes this dialogue about Gokhale in the book which is worth reading at this time, as it was in 1910. Reader: Gokhale has constituted himself a great friend of the English, he says we have to learn a great deal from them, that we have to learn their political wisdom before we can talk of Home Rule. I am tired of reading his speeches. Editor: If you are tired it only betrays your impatience. We believe that those who are discontented with the slowness of their parents and are angry because the parents would not run with their children, are considered disrespectful to their parents. Professor Gokhale occupies the place of a parent. What does it matter if he cannot run with us? A nation that is desirous of home rule cannot afford to despise its ancestors. We shall become useless if we lack respect for our elders. only men with mature thoughts are capable of ruling themselves and not the hasty-tempered. Moreover how many Indian were there like Professor Gokhale, when he gave himself to Indian education? I verily believe that whatever Professor Gokhale does, he does with pure motives, and with a view of serving India... our chief purpose is not to decry his work , but to believe that he is infinitely greater than we are, and to feel assured that with his work for India, ours is infinitesmial."   ...

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Microsoft CEO, Satya Nadella, is intervewed by Shira Ovide of the WSJ. Compared to Bill Gates and Steve Ballmer, Nadella has a quiet demeanor. Responding to a question about how he made it from heading R&D for the Bing search engine to the CEO position, he says what helped him most was working in different jobs at Microsoft with different contexts and challenges, including a mix of some where success was achieved and some in which it was much harder. The experience of people in his management team is similar. He says his sense of being an outsider while being an insider is something he always had in him, and something he now encourages as a CEO. Reading outside of work is his only rule, and this may help him maintain some distance from work to think like an outsider. His preference is literary reading not common among senior managers- T.S. Eliot's poetry. Taking some off from work for medical leave or other reasons, is something he supports, especially from his own experience needing such leave as a 29 year old at Microsoft....

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This essay in the Economist magazine describes the voter rejection of ruling parties and their candidates in France. Two presidents and two former prime ministers from the Socialist party and the Republican Party, Hollande and Sarkozy, Valls and Fillon face rejection. And another candidate from the Republican party Juppe also has fared poorly. This leaves two outsiders LePen of the National Front, and Macron a former Economy minister in the Hollande government who launched En Marche as his own movement for moderate change alternative in 2016. The rural-urban and less educated-more educated divide which was evident in voting in the U.S. election and the Brexit referendum is now seen in France, says this essay. Research from the Economist shows National Front support highest in outlying areas of major cities. The fears of immigration, terrorism, and globalization leaving parts of the working class behind are factors in this election. Support for the European Union is also a factor as it has suffered in recent years.     ...

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On Jan 19, 2023 the US hit its debt ceiling of $31.4 trillion. Republicans control the House of Representatives by only a few votes after a strong showing in midterms by Democrats who control the Senate. A small section of the Republican party insists that raising the debt ceiling- a task performed by the House of Representatives- should only be done with serious cuts to Biden programs to help workers and families during a cost of living crisis. Biden says he will not negotiate, simply won't.  This report in NYT by Jim Tankersley, says president Biden in the last resort could resort to the 14th Amendment which says: "The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions shall not be questioned." What this means is that in the last resort if Republicans insist on serious cuts because of a faction within the party, and not because the whole party supports it, Mr. Biden could continue public borrowings to pay social security and make other payments. Moody's says this would lead to a rise in borrowing costs temporarily but would not lead to a recession, and have long term benefits as the debt ceiling could not be applied in the future. It would be challenged by Republicans and go to the Supreme Court which would have to decide on the issue: "the validity of the public debt of the United States shall not be questioned." This drew 1338 comments on NYT. ...