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President Biden asks for more authority for the FDIC so that bank executives taking excessive risks or mismanaging banks can be held responsible. The FDIC could then claw back compensation, impose civil penalties, and ban executives from working in the banking industry again.

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A Brooklyn, New York resident who created his own job during the pandemic. A neighbor gave him a used bike she was getting rid of. He sold it online for $400. This gave him an idea- he now pulls bikes from garages and barns all over the U.S. and restores them to new. Because of the virus related manufacturing slowdowns for bicycles, and people preferring bikes to trains demand has jumped. U.S. bicycle sales at $2.6 billion up 81% and use of city bicycles up 141% in New York city for Citibike- with single trip pass buyer at 516,000. Mr. Van Scyvoc a 33 year old Brooklyn resident collects bikes around Cleveland where his father a retired firefighter lives and takes them by pickup truck to a bike stand he has at Fort Green park in Brooklyn. There he sells bikes bought for $80 to $250 for $300 to 500. First he has to have them washed clean and then serviced in Brooklyn by an IT engineer who now repairs bikes.

 

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Elizabeth Warren has announced a plan to invest $85 billion in fiberoptic infrastructure to bring faster internet speeds for broadband service in rural areas of the U.S. which are poorly served. The Trump administration has recognized this for rural areas which is its support base. Trump's broadband efforts have mostly tried to remove barriers to investment. The FCC proposed its own $20.4 billion fund to expand rural internet service over 10 years using federal service fees for funding. Warren's plan by contrast is to provide 90% of the cost for construction of public fiber optic networks. Its part of a plan called "My Plan to Invest in Rural America." It includes investment in rural health care centers, and annual payments of $15 billion to farmers for adopting environmentally sustainable practices. Warren would fund this with a 2% annual tax on wealth above $2 million, and a 1% additional tax on wealth above $1 billion. In the U.S., Germany and other countries after years of neglect infrastructure is getting top priority.   ...

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Trade is just one aspect of the Biden Economic plan. It covers US manufacturing and jobs, Climate Change Action and Renewable Energy, Cost of Living and Wages for workers, Interest rates and inflation, and Capital Allocation with government partnering with the private sector in key industries such as electric cars, solar panels. It has the overwhelming support of most Americans- seven out of 10 Americans favor it polls show. What is described here in the Washington Post as a change from decades of trade policy since Reagan/Bush, Clinton/Obama, is also a response to the loss of key midwestern states by Democrats to Trump in thepresidential election of 2016, and the upheavals for democracy that Biden calls the struggle for the soul of the nation on the White House website. Biden is simply saying that the old policies were a mistake, a huge mistake, and Biden is correcting the Trump response which was loud but lacked the substance that is in the Biden plan through capital allocation in size and government actions to back this up. In this move he now has the support of both Democrats and Republicans. As Greg Ip has pointed out in the WSj no one during the Clinton administration when it engaged China with the World Trade Organization on trade imagined China would replace America as the dominant nation in manufacturing, the size and th scale also affected the climate, the environment in China, and created huge inequalities in the US and China that both nations are trying to correct, Biden in the US and Xi in China. It could even be said these policies were a failure because the size and scale simply overwhelmed everything else with growth rates in China of 12-14%, and the fallout in the near collapse of the economy in the years ahead from hypergrowth.  ...

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Ford continues to struggle in getting people's attention and in getting people into the showrooms to seriously look at Ford. One problem is the fierce competition even as Ford cars and other vehicles get better in quality and safety and reliability, the competitiion is not standing still. The latest in this effort overseen by mullaly is the Swap My Ride Campaign now underwaywhere people exchange the car they drive for a Ford vehicle like the Edge crossover.

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The global minimum corporate tax will enable US, France, Germany, India and other countries to invest more in healthcare, education, infrastructure, in the years to come. Countries that helped tax avoidance shown in this graph in Live Mint are Netherlands, Cayman Islands, Britain, Ireland, Hong Kong, China. The biggest contributor to tax losses for advanced countries US, Europe and India is the Netherlands with $27 billion in tax that is diverted away, as shown in Live Mint.

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This report in the NYT shows a grim reality that about 70% of 15400 nursing homes offering a place for the elderly in America are for profit and some owned by private investors who seek to turn a profit on the operations. With competition from home care support and assisted living facilities the investors were having a hard time turning a profit on the operations resulting in deterioration in quality of operations and care. 

 Japan, Scandinavian countries, and Germany, other countries have a better system for quality of life as people get older.

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The increasing use of millet grains to substitute for wheat and rice is good for India as it copes with climate change. Millet grains are more resilient in the current heat waves that will continue for some time. Millet grains are also better from a nutritional perspective. The entire chain, planting season timing, irrigation and fertilization of crops, need to be researched and the research used to prepare for climate change with new agricultural practices, say experts. Nutri cereals such as jowar, raagi, bajra, have the physiology to be resilient and have lower water demands, higher tolerance for coarse soils and heat, says a professor of ecology at Columbia University. The UN has declared 2023 as the Year of Millets and PM Modi has also launched a campaign for greater use of Millet grains. Millet grains have a high level of iron, fiber and certain vitamins.  With obesity increasing in all countries  after the world moved away from these Millet grains and other ancient grains the time has come for a return to the more nutritious grains of the past. Only one or two generations ago in our families history these Millet grains and ancient grains were used widely resulting in better health and fewer of todays medical conditions. ...

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Four million elderly women live alone in Japan. For some like For Chikako Tanaka in Aichi prefecture in central Japan who is 85 years old, social isolation is a real problem. She had no pension and lived on her savings till the savings ran out, with no one to visit her as her dementia progressed. Chikako was an unlikely person to go to prison for shoplifting because she dresses with care and looks different, yet this was the only way out of social isolation. In prison for the first time in years her 85th birthday was celebrated. 

Physiotherapists help women prisoners over 70 years with rehabilitation, walking skills and balancing exercizes. Prison services help women to integrate back into society when they return, with service centers in each neighborhood when they return.  

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Alan Mullaly's role in pulling Ford Motor Company away from the bankruptcy that struck GM and Chrysler during the 2008 global financial crisis, and the steps taken to revive the company.

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Pope Francis appears healthy and active, says this report in BBC News, even though he is now eighty, the age when other senior church officials are expected to retire. Pope Francis plans to continue for a few more years to complete his reforms for "a church of the poor." In 2016 he has replaced about one third of the cardinals in the electoral college. Francis lives a simple life in a tiny suite in the Vatican guest house. CastelGandolfo, a summer residence of the popes, has been turned into a museum for the public. Some cardinals from Italy, Germany and the U.S. say the pope is not following traditional teachings, yet Francis in his open gregarious style says he doesn't lose sleep over this. His style is marked by directness, and the use of short phrases of the Buenos Aires dialect with which he is most familiar.

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At its core what Peter Baker of the NYT calls a question that settles the future of American democracy-Mr. Trump's indictment for efforts to reverse 2020 election result- is a question of culture, of American culture and education having deteriorated in profound and unthinkable ways. Peter Baker who has covered 5 American presidents writes in the NYT that the fourth indictment gets to the heart of the matter, which will define the future of American democracy. This indictment asks whether a sitting president can spread lies to hold on to power when the election shows voters have rejected him. The indictment says that Mr. Trump "knew that his claims were false," yet he "made them anyway to create an intense national atmosphere of mistrust and anger and erode public faith in the administration of the election."  Baker also points out that one third of the electorate still believes this to be true as a result of the claims Trump made. And 75% of the Republicans in NYT-Siena poll think Mr. Trump was simply acting in good faith to question election results in some states and it was nothing more than pursuing his legitimate legal options. This is about 40% of the American electorate. How is this possible unless the education and culture of the country has been allowed by successive failed administrations to deteriorate to an extent never before seen in this way since the country's independence in 1776. Even recent reports that two thirds of America's fourth graders fail basic reading comprehension tests have not jolted the nation out of its tech based glorification of a failing culture and education. ...

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Ford Credit which made close to $5 billion in pretax profits in 2002 is now down to zero profits and this means Ford does not have the large dividends that it had from Ford Credit. And the economy is likely to hurt Ford and Ford Credit.

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Washington Post looks at history of rare earths since 1945, and how the US EU and Japan let China become the sole supplier of rare earth minerals. This error is being corrected in 2025 and the US, EU, Japan remain vulnerable for the next 2 years till these countries build up an alternative supply of rare earths. It is a situation where vital national interests in the US and EU, Japan were lost sight of for three decades.

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Pam Bondi is nominee for Attorney General. Pam Bondi was elected Attorney General of Florida in 2010 after serving as prosecutor and assistant state attorney. She also assisted with the DJT campaigns. Todd Blanch, federal prosecutor in Manhattan is the nominee for deputy attorney general, who assisted in the DJT defense team.

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Kerkorian will lose $640 million of his $980 million investment in Ford made in April of this year at $7 a share. He sold a portion of his shares at $2.43 a share and is expected to sell the remainder soon. MGM Mirage stock that he owns have fallen by 85% since hitting $100 a share last October. The value of his 54% stake in MGMMirage has sunk from $13 billion to just over $2 billion. Its not clear that sale of Ford shares were prompted bya margin call. After seeing the debacle of Kerkorian twice once before this with GM shares in recent years other investors are likely to be wary of auto stocks.

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The BBC looks at Germany's scramble for energy in 2022. Germany is now doing everything for a winter without Russian gas- that means coal, LNG, new supplies from Qatar and the US. EU wants 15% cut in consumption, more efficient use and less use of energy. And boosting investments in renewable energy.

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A look at the need for serious attention to personal health, including the risks of obesity and poor health habits that are second biggest risk factor for deaths from coronavirus. Boris Johnson, Britain's prime minister has taken up new health habits, exercize and changed lifestyle, after going through a life changing experience. 

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Crowds breaking through the barricades, people without tickets storming the Hard Rock Stadium in Miami, lack of safety for player's families, delays in the game time, and other problems made the US look bad for staging soccer games. A new test looms in 2026 with the World Cup Soccer to be played in the US.

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A series of actions by Ford to cut prices, Toyota to have no price increases, and Hyundai to invest $21 billion to Make in USA and similar actions by GM, mean that except for about 300,000 imported German VW cars the car market in the US will have no price increases for average Americans. Foreign media and media in the US that is misleading say there will be price increases in the US for cars after US tariffs on imports from Japan of 24% and on EU of 20%, South Korea 25%.  NHK Japan reports that Toyota will not increase prices in the US despite DJT Liberation Day announcement of 24% tariff on Japanese imports including auto imports. Toyota will continue to make the 3.12 million cars it makes in Japan as well as the employment, of which 586,000 are exported. Toyota says it needs to cross the threshold of 3 million domestic car production to keep its technological capabilities.  Toyota will also look at ways to increase US production.  Hyundai is planning investments of $21 billion in the US from 2025 to 2028. Hyundai is likely to follow Toyota and make no price increases till it ramps up American production to Make in the USA. Ford is cutting prices of cars under its From America For America sales program. Ford has 568,000 cars in inventory. It has 60% capacity and can ramp up to make up for VW cars that are priced higher to give American buyers of German cars a cost effective option.  ...

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Binyamin Applebaum of the NYT Editorial Board says the gap from 1972 to 2021 of 21% of GDP in spending and 17% of GDP in taxes taken in is a serious problem because it creates $31 trillion in debt and over 475 billion in interest payments each year. And much of the spending is wildly popular 63% that goes to Social Security and Medicare, and vital spending on health care and education, social services that takes up 15%. The rest is defense and interest payments. The rest of the G7 spend about 50% more on average he says. This is why he says Republicans holding up raising the debt ceiling is not the issue that needs to be faced each year there are better more direct and sensible solutions that also address the need for the Renewal of America after years of underinvestment in everything from infrastructure to health and education. And capital markets that overcrowded essential government spending to finance massive capital misallocation by tech companies, the costs of which are only now being understood in America. ...

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Alas, economists and intellectuals such as Gita Gopinath of the IMF, just don't get it when they say the EU can increase growth by half percent meeting labor shortages using immigrants. As WSJ reports 50-60% of asylum seekers in Netherlands since 1999 are less skilled /less educated immigrants, are unemployed or on benefits.The new view across all parties is lets stop the immigration surges, its too overwhelming for the people to deal with, so that we can focus on cost of living and low wages for workers. Across Starmer's Labour in Britain, across Biden/Harris Democrats lined up with Republican Lankford in the US pledging to sign the legislation to close the southern Border, and in France Macron's premier Michel Barnier wants to do the same.   Mette Frederiksen of Denmark was a pioneer in the EU in showing that immigration acts as a distraction that hurts the working class as it distracts people from the key issues facing workers of cost of living and low wages, poor benefits. She was elected as a Socialist party leader in Denmark in 2015 and as prime minister in 2019. Sahra Wagenknecht, follows Mette Frederiksen, herself a daughter of immigrant, has formed her own party out of Socialist Die Linke in Germany which is now getting about 15% German voter support, 25% in the east, along similar lines to pause and stop immigration because it hurts the working class. In other parts of EU- France's Macron coalition has a prime minister who has called for a pause on immigration. US president Harris and Candidate Harris have pledged to sign bipartisan legislation drafted by Republican Senator Lankford to close the southern Border. The European Asylum Agency has the numbers at just over one million asylum seekers in EU in 2023 and agains in 2024 split by country- Germany 127,000 24% France 77,000 15%, and Italy and Spain 87,000 each 17% each Belgium, Netherlands and Austria 17,000 each at 3% each, Greece a bit higher. Some like the US and Germany with stronger economic base and industries can absorb the educated immigrants from middle class fleeing wars and strife, and less educated immigrants in construction and hospitality. The bigger danger is in creating support for parties that will use the issue to take whole economies and countries backwards by further depressing workers wages, benefits and rights, exacerbating social divisions around race and income that they say they will solve but have no economic policy to do this. All socialist and socialist democratic parties have grasped this in 2023-2024, some earlier by 2019. ...

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The turnaround at Ford Motor Company described in Detroit News reporter Bryce Hoffman's book "American Icon: Alan Mulally and the Fight to Save Ford Motor Company."

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When it comes to essential policy Republicans and Democrats in the US Congress can and will work together. A roughly $1 trillion infrastructure bill passed in the US Senate. Kentucky Republican Mitch McConnell says there are issues that are popular with both Democrats and Republicans.  He said in an interview with the WSJ - "The American people, divided, sent us a 50-50 Senate, and a narrowly divided House. I don't think the message of that was, 'Do absolutely nothing.' And if you are going to find an area of potential agreement, I can't think of a better one than infrastructure, which is desperately needed." The infrastructure bill passed this week 69-30 in the US Senate. McConnell thanked president Biden for getting the Democrats ready to compromise to pass the bill. Biden's long experience in the US Congress compares with another US president, when getting Congressional action from both parties was needed. Lyndon Johnson had this type of long experience in the US Congress which enabled him to reach compromise with Republicans to achieve goals in civil rights legislation and in passage of Social Security during the 1960's. In this sense Biden is right for the 2020's when national rebuilding is the task before America. ...

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Memorial Service for Charlie Kirk at St Joseph's Church near Capitol Hill Washington DC, September 12 2025.