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A passion for doing something that interests you can be constructive or destructive both for satisfaction, rewards and health. It is destructive when it is obsessive, based purely on external rewards and recognition. It is constructive when it is based on well being, living productively, doing something harmoniously, absorbed in it because of how the activity itself makes you feel.

Its important not to judge yourself looking at others, but setting your own pace, on your own efforts. Focus on a lifetime of excellence, on a process, not a point in time result. Even embracing some failure for the opportunity to grow. 

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Krugman points to the connection between the failure to achieve debt reduction through debt forgiveness and the sluggish economic growth in the eurozone and U.S., five years after the global banking and financial crisis of 2009 and four years after the beginning of the eurozone debt crisis in 2010. In the U.S. debt reduction for homeowners was delayed with a wave of foreclosures, and in Europe austerity budgets were the norm as Germany pushed hard for austerity policies. In 2014 small relaxation of austerity to give relief to voters took place in Greece, France, Italy and Spain, with austerity budgets still in place. Growth also slowed in Germany to slight contraction in the third quarter and no growth in the fourth quarter of 2014. This is leading to the formulation of new policy to address growth challenges in the eurozone. Debt to GDP is growing in eurozone countries and Britain because of lack of growth, even though spending cuts have been made, showing the need for rethinking policy. ...

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The supply chain chaos that is not good for American or European companies is shown here and how it is good only for warehouses that store these products for long periods. In March just 7% of the sea shipments from Asia to North America arrived on time, for Europe this was just 6%. This WSJ report says even big companies can expect to pay 5 times the freight rate than in 2019. New trouble looms in the form of more lockdowns in China with its zero covid policy and wage negotiations with dockworkers in Los Angeles and Long Beach. Stockpiling is one way to ensure availability which means additional costs. Vacancy rates for logistics property are at 4% in the US and 3.5% in Europe. All this points to the need for reshoring and bringing manufacturing back home. Companies need to invest $1 trillion over 5 years to relocate all foreign manufacturing based in China that is for markets in US, Europe and other parts of the world. As companies make plans for the shift to bring manufacturing back home, half the money going into real estate is still going to logistics properties and industrial logistics in the meantime, says this WSJ report ...

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A partnership between rivals and the movement towards the 2016 U.S. elections.

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Entergy is still short of the over half a billion dollars needed to close each of the aging nuclear plants in Vermont and at Indian Point in New York.

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General practitioner physician in Edinburgh, Gavin Francis, describes the mental health issues that are now common. He says they come in the form of panic and anxiety that are leaching into everyone's lives like a second pandemic.

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The IMF and Egypt reach preliminary agreement on a $4.8 billion loan in Nov. 2012. Andreas Bauer, IMF division chief for the Middle East says fiscal reforms by reducing waste in expenditures, changing energy subsidies to better channel them to the most needy are part of the plan for Egypt. This includes tax reforms increasing progressive nature of income tax and broadening the sales tax. The goal is to bring the deficit down from 11% of GDP in 2011-2012 financial year to 8.5% in 2013-2014. As part of this plan more money can go to infrastructure investment. Monetary polcies will be geared to keeping inflation down and increasing Egypt's competitiveness to attract foreign investment and increase international reserves. Egypt's international reserves are at $15 billion in Nov. 2012. In all the program of assistance to Egypt including IMF assistance and other donor loans gives Egypt access to $14.5 billion in loans.

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New labor laws passed by the government of prime minister Mario Monti in June 2012 to introduce flexibility in the labor market, increase growth and provide opportunities for young people.

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As severe floods affect Pakistan about 3 million people are affected. The government is coming under strong criticism for lack of an organized relief effort. Muslim charities are filling in for the government in many places.

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David Super, a professor at Georgetown University Law School, says letting the fiscal cliff cuts in spending go into effect is fairer to the poor and middle class than the $1.2 trillion in spending cuts proposed by president Obama and the Democrats. He says the pressure of public opinion would lead to some minideals for the Bush tax cuts to go to lower incomes and for restoring some funds to defense after the fiscal cliff agreement goes into effect, leading to a fairer outcome.

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Whitacre is basically blunt about his mission from the Obama adminstration when he attends meetings at the Tech Center in Warren or at the Westin Detroit Airport hotel and the San Antonio club: get GM growing again, he wants to see market share north of 20%. The Obama administration, Bloom and others are clear about the government wanting to get its $50 billion for the USA and $9 billion for Canada back as early as possible. He has told GM's Henderson he will be replaced it things don't change fast enough, and he wants product out faster, 2 year development times for new cars instead of three years today. The same message has been passed on to middle and upper middle managers in diagonal meetings. And what are readers commenting on this- and readers views matter a lot because GM has a wrong perception out there that hurts sales- a third of twelve readers said they cannot understand why young people are not moved up to run the company especially from design and engineering, one mentions Whitacre's age 70 years. A third just don't think much will change, and one says he will buy aFord. And a third says Whitacre is the guy who can shake things up and he should. ...

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President Biden describes the relationship with India as at an inflection point. Looking back decades from now this point will be where the US developed a new relationship with India, said Biden as he welcomed the Indian prime minister to the US. A closer relationship in manufacturing with new supply chain arrangements, trade, energy and fighting climate change, and increased investment, is planned. The US will jointly manufacture F414 GE jet engines in India.

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BBC Travel shows this fascinating trip to the Serra de Estrella "mountain of the stars" in the Alentejo region of Portugal, with some of the clearest skies in the world, and profusion of stars dotting the sky. It is the location of the 3000 sq km Dark Sky Alqueva Reserve. A 300 km road trip is shown here in a BBC picture essay.

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This essay in the Economist magazine points out the special nature of the 2017 presidential election in France with the rejection of establishment candidates- Manuel Valls, Sarkozy, Juppe, and now Fillon. Fillon and Valls were prime ministers under Sarkozy and Hollande, from the Republican and Socialist parties respectively. With unemployment high in the areas outside the major cities their is a surge in support in these areas for the National Front. Emmanuel Macron, former Economy minister in the Hollande government, is the only candidate leading Marie Le Pen at this time. In a second round of voting he has to bring in centre right supporters and centre left voters and moderate voters, and appeal enough to working class voters, young unemployed people, offering hope for a better future to win this election against Le Pen. Economist magazine research shows support highest for Le Pen outside major cities in outlying areas, and for Macron in the major cities. There is also an education divide as seen in the U.S. election and Brexit referendum with less educated voters preferring the nationalist sentiment, church support sentiment fostered by the National Front.  ...

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Iran and Houthi rebels in Yemen seeking to enlarge the Gaza response of Israel into a wider regional conflict. The US under Biden seeking to limit the contours of the conflict and convince Israel to end its invasion of Gaza. Shipping lanes in the Red Sea and the Suez Canal are affected as Maersk now sends its ships around the Horn of Africa. The US and UK warships tackle a recent barrage of attacks on shipping in the Red Sea last week and the US says it will respond to keep theshipping lanes open for Suez and the Red Sea. The WSJ shows these shipping lanes and the impact.

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Sister Emmanuelle the fourth most popular person in France, she would have turned 100 next month and served the poor in Egypt, died this week.

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Raphael Varane of France announces his retirement from soccer at 29 years of age, saying that- "right now we have overloaded schedules, and I feel that I am suffocating, that the player is gobbling up the man." Real Madrid's Courtois, and other players from Manchester City, Manchester United, feel the same way. FIFPRO world players' union general secretary, Baer Hoffman, says the volume of games today is putting too much pressure on the physical and mental well being of players. No one is thinking of us players says one player. Australian coaching mentor Royle, says it is the dehumanization of human endeavor. Players and coaches are stepping away and Jonathan Harding in the DW.com asks if the price they are asked to pay is too high. Is it time for the football league managers to listen.