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Its incorrect to call a loan that has only slightly lower, same or higher monthly payment after modification, a loan modification. The intent is to make a loan affordable in monthly payments for the borrower, for it to be a meaningful modification. Says Tom Miller, the Attorney General of Iowa, "it should'nt be called modifications if people pay more or approximately the same." Many lenders and banks do not want to have to mark to market a whole set of loans of one type in one geographical region, as an accounting rule now requires, just because they have modified one loan of that type, because their reserves are severely depleted and most are already or nearly insolvent. So their way of discouraging loan modifications as a solution is to respond by saying that loans go into foreclosure even after modification, when the modification they are talking about is tacking on interest penalties and fees that accelerate the home into foreclosure in some cases, and in others by leaving payments higher or the same make foreclosure just as likely as before. Tom Miller, attorney general of Iowa, also says that " if you do real modifications, the default rate is significantly lower." Some mortgage companies say that default rates drop significantly, some to as low as 25%, when loan payments are reduced to the 30-40% of borrower income range, which is becoming the standard for a meaningful modification. Analyst Ron Dubitsky's research at Credit Suisse confirms this, showing lower payments reduced defaults to less than 50%. Research by Credit Suisse and Alan White, a law professor at Valparaiso University also show that at this time loan, 2 years into the foreclosure crisis, modification has mostly resulted in higher monthly payments. White says banks like Wells Fargo, a large servicer of loans, have done have modified few loans as apercentage of their delinquent mortgages. Sheila Bair and others have long advocated reducing loan payments to 30-40% of monthly income since early 2007, because foreclosure is costlier for banks than loan modification, but met resistance from the banks and lenders and their lobbying groups. The relevant question is that if the banks are misquided in pursuing this course, and its not in the interests of the banks or the country's economy- because accelerating foreclosures or not taking modification action in the middle of a huge wave of layoffs may result in a even bigger wave of foreclosures that threaten housing prices and effectively leave banks insolventleading to nationalization- then what purpose did all this serve except to exacerbate the crisis and increase the price tag of the government's and country's ultimate rescue of homeowners?...

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Over 9% of Countrywide's loans are past due by 30 days and the situation will continue to deteriorate through 2008 and 2009. For those loans that had weak credit checks like the Fast and Easy program the about 36% are 30days overdue on payments. During one conference call Countrywide showed a chart that indicated that loans with poor documentation were 50% more likely to go delinquent. And Federal investigators and the FBI are looking into Countrywide's Fast and Easy mortage program which turned a blind eye to inflated income figures did not bother to check pay stubs and employment information and in other ways left the program open to abuse. this may be at the heart of how the housing subprime morgage crisis got started in the last couple of years between 2003 and 2008. And the packaging of these Fast and easy mortgages as Fannie recently announced that it will no longer buy any mortgages that are in the Fast and Easy program. Its significant that in recent years about one third of all Countrywide prime mortgages eligible for sale to Fannie Mae were Fast and Easy. Its significant also that Fannie Mae did not require verification of employment on all loans and relied on Countrywide to verify the employment on a sampling of loans and still continued to buy these Fast and Easy program mortgages right down to the present day in April 2008. So Fannie Mae and others who purchased these mortgages and investors in these mortgage securities did not due the basic due diligence or ask the simplest of questions. Amazing and also the kind of thing that is at the heart of the crisis and about which a lot will be coming out as federal investigators get to the bottom of this mess. ...

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This article in the Economist points out that 84% of Britons want the 3.5 million existing immigrants to stay in Britain, even though the government of Theresa May has not given a clear commitment. May wants a reciprocal commitment for 1.2 million Britons living abroad in the EU. In 2015 330,000 immigrants came to Britain, with close to half from the EU. The Conservative government has not been able to reduce the number- a result for the most part from 10 Eastern European countries entering the EU in 2004 and 2007, says the Economist. Brexit negotiations are not likely to lead to results in migration partly because of the long negotiations with the European Union needed for changes. Other issues are that the food processing, farming and hospitality industries need low cost labor from Eastern Europe.

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Costco's money saving strategies. Says Sinegal, son of a coal miner, "the biggest concern to me is that we lose our way and start thinkig it doesn't matter if you charge another dimeor another dollaar or another hundred dollars. Wihtout those disciplies, we don't have anything." Costco looks at every small saving, a penny here, a dime there. Savings in bananas, savings in pallets, savings in truckers time and trucks, on and on it goes. Costco gets three quarters of its operating profits from its membership fees of $50 to $100 from its 29 million members and it cannot afford to lose members who leave because bargains are not there or prices are not absolutely low for quality products. Sinegal is challenging Costco people to come up with new ways to save and pass on te savings to customers and where suppliers raise prices looking for alternative sources as with Bonita bananas fro Ecuador.

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Roger Mosey who worked as Director of BBC News, left BBC News in 2013 and is now the master of Selwyn College, Cambridge. Here he describes the problems the BBC faces and tasks facing it under its new director general, Tim Davie. Mosey sees the need to move power out of London. He is critical of the way the BBC has tended to narrow in its views and its failure to reflect the sentiment in the whole country for Brexit, attitudes towards the European Union, and also in its failure to reflect the sentiment in favor of Boris Johnson's "Get Brexit Done" stance. In recent coverage Mosey says the BBC has not covered both sides of the story in the taking down of statues of Robert Clive to try to educate readers of who he was what happened and why there are different views on this in Britain, opting instead for following what is popular at the moment. He sees BBC as patronizing ordinary Britons who have views that may not coincide with that of people in London who have views on the hard right or hard left. In his view the best way to lose the rationale for BBC license fee is not to educate people on both sides of the story every time. ...

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During the first days of vaccination drive in India the uptake is lower than expected, below 48% in many states of India. Healthcare workers are coming forward in smaller numbers. The glitches in the app that was used to transmit information is one reason, the other being that not enough information was disclosed about the two vaccines.  On the first day Jan. 16 India vaccinated 200,000 healthcare workers. The target was 300,000. The uptake is lowest in states such as Tamilnadu and Punjab.  One of the reasons for the low uptake is also that India has a lower number of cases, and cases are in decline in India for coronavirus. The first wave peaked on September 13 at over 90,000 and has declined ever since to 13,000 on January 19, 2021. The Indian diet includes vegetables and a large part of the country is vegetarian. Indian diet also includes herbs such as turmeric, ginger and cinnamon, and many others that help build immunity. The lack of cars for large numbers of the population means a lot more exercize walking long distances is essential in daily living. Another factor is that the mandate for masks is strictly followed everywhere. Also helpful is that after independence in 1947 the pharmaceutical industry was built up to serve the large population with prices regulated carefully by the government, enabling steady supply of medicine during the pandemic. ...

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De Aenile describes the volatility in stock markets after the Brexit vote. Earnings growth is slow and expectations are declining. Indexes of emerging markets are trading at 10 times earnings, say experts. The S&P 500 ended the quarter at 19 times earnings, compared to historical average of 15, according to this report. Uncertainty remains high in Europe and the U.S., and monetary policy is stuck in a low interest rate environment.

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The President of the American Chamber of Commerce, Harley Seyedin, says that the days when migrant workers did not know their rights, labor laws were not enforced, and factory owners could keep wages low, are gone. With 787 million mobile phone users and 384 million Internet users- which includes migrant workers who can now get the news about the latest developments, send messages, video, and access the internet. For its part the government made serious effort to create awareness about new labor laws of 2008 through the state run media outlets. And workers have greater awareness and understanding of their rights for safe working conditions and double overtime pay, as well as other rights guaranteed in China's new labor laws. And something else is happening that connects the universities with workers. The expansion of the number of students at Chinese universities has brought more people from rural areas into the universities. This has created sympathy and support for migrant workers at the universities. Nine sociologists at Peking and Tsinghua universities signed an open letter calling national and local governments to implement actions that let migrant workers integrate into the city environment and share in the country's progress that they are creating. The government's security system has prevented the creation of a worker's movement in the past. But this time the government may be thinking of the need to develop China's domestic market, as the reliability of markets in the USA and European countries is uncertain as economic conditions change. For this to happen China's workers need higher wages to buy the goods China produces. ...

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France is tightening up on vaccine passes making them mandatory and imposing bigger penalties for fake passes. Fine of 5 years in jail or 75,000 euros for use of fake vaccine passes and stricter penalties for stores not checking the pass. Vaccine passes are mandatory in stores, public transport and venues in France. The goal is to get the remaining unvaccinated to get vaccines as omicron variant of the virus reaches 200,000 new cases a day in France. 

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This article on the main protagonists in the Conservative Party during the EU referendum in Britain shows how the narrow interests of a few Oxford educated politicians and their infighting has shaped the vote on Brexit. Gove, the Justice Secretary and Boris Johnson, former Mayor of London, have no idea what to do if they won in the Brexit vote. Both pull out of the leadership race after prime minister Cameron announces his planned resignation following a leadership vote in the party. Cameron and Osborne, the other two Oxford educated politicians, are caught up in the infighting in the Conservative Party which leads to Britain voting to leave the European Union. The article looks at the lives of the four male politicians who form an old boys club at one time and now are deeply divided with Cameron's wife Samantha and Gove's wife Sarah Vine once close friends, now along with their husbands no longer talking to each other. Also evident here is that Sarah Vine writing in the Daily Mail discloses more grief about all this messing up her social life than the way the vote to leave the EU will eventually affect the country's standing, its credit rating, and the economy, and how it affects the lives of ordinary British people. ...

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Airbus is making the Airbus 380 superjumbo model plane about 25% slower than originally planned say Airbus executives. This is partly because manufacturing is sequenced between France and Germany. The way the production system for the A380 is organized today is to split work between the French and German operations. The plane structure is built in Toulouse, France, and the cabin and interiors are fitted together in Hamburg, Germany. Tom Williams, Airbus executive vice president for programs, says this slows the completion and increases the cost. On the A330 models the work on the interior is done along the way as the structural work is being done, and this reduces cost and speeds up completion. Part of the problem is the sensitivity of the issue of moving work for unions and governments, but he now plans to push the A380 cabin outfitting back up to the earlier stage when the airplane is being built. A slower production rate means workers and engineers are learning more slowly how to build these planes efficiently by structuring tasks in a certain way and using different production methods. Boeing has also experienced similiar production delays and is working on moving up the learning curve the way EADS Airbus is doing. The A380 program has suffered delays over the years. In 2009 wiring the cabins was a problem. In 2010 a Rolls Royce engine on a A380 flight by Quantas Airways blew up on a flight after takeoff from Singapore. Because of manufacturing issues there were delays in delivery of Rolls Royce engines in 2011. Bot problems were resolved. In 2012 Airbus has found cracks in metal parts inside A380 wings which has slowed output. Airbus has delivered 77 A380 planes since 2007. The production rate is 3 A380 planes a month, compared to plans to make 4 a month by 2012. About 30 A380's are expected to be delivered in 2012, compared to 26 in 2011, 18 in 2010....

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The European Union Commission says Ireland must recover 13 billion euros in back taxes for giving tax preferences to Apple that are against EU rules. The EU Commission says Ireland allowed Apple to pay a corporate tax rate of 1% on its European profits in 2003, and .005% in 2014. The EU Commissioner says the use of Ireland as the place where Apple pays taxes on operations in Europe has no base in reality, as most profits are earned in other countries outside Ireland. Taxable profits of Apple "did not correspond to economic reality," according to Ms. Vestager, the EU Commissioner.  In the current environment where political upheaval is unsettling the democratic process in the U.S., Britain, Spain, France and Italy, as well as in Brazil and other countries in the developing world- because of deep recessions, and efforts to cut the deficits with deep cuts in state spending including in education and healthcare, basic services- the moves by companies to reduce taxes to these absurdly low levels such as .005% when other companies in the EU are paying 12.5%, is becoming increasingly unpopular. As pointed out in this BBC News article this sounds like the way Carnegie, Rockefeller and Vanderbilt operated during the late 19th century, and were seen as operating in a manner that was above the law. Janet Yellen pointed out at a Boston Fed Conference on inequality in Oct 2014 that the bottom half of the distribution or 62 million households in the U.S. in 2013, had a net worth of about $10,000, One quarter of these households had a net worth of zero dollars. The working class and blue collar workers in the U.S. provide much of the support at Trump rallies. Younger college educated people support Sanders, because of the situation of the working and middle class in the U.S., and a similar situation exists in Europe. It is for the sake of the democratic process and delivering services in education, healthcare, and other basic areas to all, that companies small and large need to pay their fair share of taxes, regardless of size, influence, or technological advantages. Today this is is seen by most leaders who draw public support as the right way forward for the U.S., Latin America, Europe and Asian countries, including proper allocation of resources to best serve the needs of working people. For example the 13 billion euros is equal to all of Ireland's healthcare budget, and 66% of its social welfare budget.    ...

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President Trump on a three day visit to the UK promised a free trade deal with Britain if it made a decisive break with the European Union. Such a free trade deal could take years, offer small benefits compared to the loss of the much larger trading relationship with the European Union. It would face hurdles in passage through Congress because Democrats controlling the House of Representatives see a decisive break with the European Union including the customs union arrangement as affecting the open border in Ireland risking the hard won peace in Northern Ireland.  Prime Minister Theresa May proposed a withdrawal arrangement that would keep the customs union arrangement but has failed to secure the support of a faction within her Conservative party that favors a decisive break from the EU. Such a break that Mr. Trump and Boris Johnson the leader of this faction -and a favored candidate to succeed prime minister May after her resignation- would reduce Britain's GDP over the next 15 years at the higher end of the range of 0.1% to 9% a year. A decisive break called a no deal Brexit with no arrangements or agreement for withdrawal with the EU, would lead to a loss closer to the 9% estimate. British experts to the EU are about $275 billion or 44% of its total exports compared to about $44 billion to the U.S., according to HMS Customs source, showing how important it is for Britain to maintain a close trading relationship with the European Union. British farmers would also face competition through agricultural imports from the U.S. in a free trade deal. During his visit Mr. Trump also stated the National Health Service, everything would be on the table in a free trade deal with the U.S.  Theresa May responded by saying that the NHS would not be open for negotiation to American corporate involvement. Public sensitivity is high on any change to the National Health Service. The trip of president Trump to London in which he supported Boris Johnson as candidate to succeed Theresa May, with discussions between Trump and Johnson for 20 minutes, and a visit by Nigel Farage to the U.S. embassy, and no meeting with Labour party leader Corbyn, only shows the widening of differences on the issue of British withdrawal from the EU making any deal for withdrawal even less likely. Labour party leader Jeremy Corbyn now favors a second referendum on whether Britain should leave the EU.  ...

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A drop in the positivity rate to below 5% and cases dropping to below 100,000 after peaking at 400,000 in May. This report in the Indian Express looks at the details behind India's successful effort at bringing down the cases that was done over a period of 30 days with a combination of effort from the central government, state governments and healthcare workers. The turnaround was achieved effectively in Uttar Pradesh a state of 210 million people so that per thousand population had dropped to below that in the US state of Michigan about 2 weeks before that was achieved in Michigan. This was the result of an extraordinary effort at all levels in India.

Risks of the new variant exist in all countries that are reopening aggressively. Talk about huge open air concerts and filled sports stadiums in the US show that complacency can happen as countries reopen.

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Oil supplies are not expected to go up with Mexicio and Russia's aging fields crimping production, non opec production barely budging with 1% increase this year according to IEA. Indonesia production down by half from its peak. Countries in the middle east like Iran are consuming more and have less available for export. And the Saudis plan to build huge chemical aluminium and other plants as well as cities in the desert, and increase electricity production. This will take up some of the oil production and make less available for export. Militant strikes have shut down over 25% of production of Nigeria's 2.5 million barrels a day of production repeatedly in the last few years. And Saudi Arabia has according to CERA only 2 million barrels a day of spare capacity or 2.3% that it can add, all of the safety cushion in one country according to Daniel Yergin. Yergin sees prices up to $150 barrel based on the supply constraints. The demand side is showing declining consumption in the USA but not by enough to compensate for growing consumption in China by 5% this year, and the increase in consumption in India, Russia, Brazil and other developing countries including Middle East. The reason for continuing consumption increases in the rest of the world is that price impact has been less severe in Europe because of the strong euro and oil priced in US dollars, and in China because Petrochina is required to put price caps so gasoline price increases are not that harsh. And India also cushions the price impact to some extent to protect consumers. And autos are just taking off in large numbers in China, Russia, India, Brazil and other countries. The drop in consumption in the USA has to be large enough to have an impact. And the shift to fuel efficient targets in the new fuel efficiency regulations in the USA are too modest and over a number of years to have any impact in the short term or in the next 1-3 years. In February US oil demand dropped to 19.7 million barrels a day, down 1 million barrels a day from the US average for 2007, but this insufficient conservation to impact price. Even though new cars are shifting to higher fuel efficient small cars the impact on the total fleet is gradual as cars on the road purchased in the last 5-10 years are still on the road. Even as the consumption falls in the US the offset is occurring in the other countries like China, Russia and India. Some of this is due to the euro and some to speculation but the supply constraints are real and demand momentum is still there in China, Middle east, Russia and India to keep offsetting savings elsewhere and keeping supplies tight. The euro increased in value by 2% while oil prices increased by 10% since the 1st week of April so there is more than the weakening dollar and some speculation to this surge, which may be why the normally cautious Yergin says the price rise to $150 is realistic and says, its not just that the genie is out of the bottle, a hundred genies are out of the bottle. That is to say for the immediate future of demand momentum and supply sluggishness which could run 6-24 months, to the Olympics and maybe a year or so from then. This ties in with the thinking behind the Goldman's estimate and CERA's estimate. ...

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Edsall in the NYT shows how mixed race neighborhoods are quietly emerging in the US in many states changing the way suburbs look now. It will also change the way Americans elect representatives to assemblies and the US Congress.

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Cerberus Capital will lose its entire stake under the plan announced by the Obama administration. And Fiat will be limited to a 20% stake in Chrysler, down from an earlier figure of 30%. And Fiat will have to repay the $6 billion loan that the Obama administration is willing to make before in can take astake in Chrysler of above 49%. Obama administration official confirmaed that the Cerberus 80% equity stake no longer holds value and that the firm's ownership would come to an end. Only if Fiat and Chrysler reach an agreement in 30 days will Treasury invest $6 billion in Chrysler. The task force requires Chrysler to eliminate the "vast majority" of roughly $9 billion in outstanding secured debt. Cerberus acquired Chrysler from Daimler AG in august 2007 when US vehicle sales were 16 million a year, and did this by having Chrysler borrow heavilyusing its plants and property as collateral. $10 billion of secured debt was raised, and $2.5 billion was paid down of it. With prices of gasoline hitting $4 things collapsed. Chrysler sales fell 40%, and Chrysler was loaned $4 billion by Treasury. Now Chrysler has 30 days of working capital from Treasury till it reaches an agreement with Fiat, and before the government provides an additional $6 billion if the agreements as required by the Obama task force are reached....

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Prime minister Boris Johnson says he will proceed with "maximum caution" as he plans reopening of the economy. The reproduction R ratio for the virus is just below 1.0 and may have gone up recently, say public health officials. Britain faces a problem of deaths in care homes that is not under control.

Prime minister Johnson will announce Sunday new moves which will be limited- allowing people to go out to take as much outdoor exercize as they like, and restart activities such as tennis, golf and fishing. Businesses will get guidance to prepare places for social distancing when people return to work. Restrictions on limiting people contact to those within their household will remain.

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Dexter Filkins shows here how something is changing that may have been missed by American commanders and the new US administration- the evidence of a crumbling and unpopular feudal structure that the British maintained in Afghanistan to continue the imperial presence, and which has remained that way under the government of Pakistan for the last 50 years. Baitullah Mehsud and other Taliban leaders are from the lower strata of society, the porters and street cleaners and other occupations. The British operated through the malik system of tribal elders who were supposed to maintain order, and the British pretty much left them alone. The Pathan or Pastun people on both sides of the border between Pakistan and Afghanistan are going through some major social changes that are pent up for centuries. The malik system is beiing destroyed on one hand , and on the other hand the Taliban enjoy support among ordinary people in Pathan country as being good Muslims, and in parts of Pakistan itself. This creates a dangerous mix for American forces, popular sentiment of the lower strata and ordinary Afghans, with clandestine support from Islamist officers within the Pakistan army and intelligence services for more sophisticated warfare. Which only means that disproportionate resources would be needed for an expanded American project in Afghnistan, without much to offer in return....

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Liz Whitehurst is one of many young people who are giving up jobs in offices to take to farming. They are not from farm families and bring a new way and exciting way of looking at farming free of the pesticides and other practices common today. Only 2% of U.S. land is being used for growing fruits and vegetables, according to the Union of American Scientists cited in the Guardian newspaper, and this needs to at least double in acreage if American needs are to be met. Only 15% of Americans get the daily requirement for fruits and vegetables- so desperately needed is this  to lower the BMI of the 70% of overweight Americans with BMI over 50. In the light of this crisis the shift of young people to farming is an encouraging sign.  In 2015 Liz, 32 years, decided to buy a 3 acre farm in Upper Marboro, Md, giving up benefits and better pay at nonprofit jobs in Washington state.  Here she is shown picking up Aragula leaves in the November chill. She is not alone. She is joining a movement that is bringing highly educated, former urban first time farmers as the demand for better food, for local and sustainable food, especially fruits and vegetables grows in the U.S. Year on Year there is a 20% increase of farmers in states like California, Nebraska, South Dakota in the 25-34 age group. In the 2014 USDA Census this group is growing at 2-3% just when other groups are shrinking by double digits. These farmers are more likely to connect with the community supported agriculture (CSA) prorams and markets, to grow organically and limit pesticide and fertilizer use. They tend to have farms less than 50 acres. Liz leases the house and the fields from a neighboring couple in the 70's, growing organically certified peppers, cabbages, tomatoes and salad greens kale to aragula, rotating fields. On Tues, Thurs. and Fri. she and two friends are to be seen waking up in the early hours of darkness to kneel in mud and cut the greens. What motivates them is having a positive impact, to do that so it is immediate and you can see it making a difference, says Liz. Still young farmers face many hurdles, including student loan debt, and finding ways to meet the larger needs for online grocery service or the grocery chains. Yet a trend is taking shape for small and middle farms that provides some optimism as the number of farmers shrink significantly overall. Most alarmingly it is the lack of national and local policies to meet the health crisis of rising BMI's right at this level of local farms and community farms for local produce. Lack of any consciousness about this, even though good health in the U.S. as in other countries has always rested on what you are eating, long before processed foods became the norm this is the way the world met nutrition needs.    ...

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Wuhan has announced  only 3 new confirmed cases since March 18. Restrictions on travel were lifted after a 77 day lockdown on the city, allowing inbound and outbound travel. Some restrictions on housing complexes have been tightened after reports of dozens of asymptomatic cases. The number of asymptomatic cases remains unknown. There is a fear of a second outbreak and authorites are staying vigilant, as it is feared that the first outbreak was worse than previously thought. Epidemiologists, intelligence agencies, and health experts believe the number of cases reported in Wuhan and China are undercounted. This could be they say a result of local officials wanting to present a better picture, of not enough testing in the early stages, not counting people who died at home, and including people who died of pneumonia under pneumonia instead of coronavirus. Dr Birx, head of the U.S. response effort,  says the U.S. lists people who died of pneumonia in New York as coronavirus deaths because of how widespread it is there, hitting seven people in a thousand. In addition there is a problem for all countries in counting people without symptoms. No one even knows how big that is, and Dr Birx in the U.S. says it is important to find out. ...

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In a crucial demographic Donald Trump's provocative remarks cause a stir and a slide by 13 percentage points. In late July NYT/CBS polls show 72% support among Republican women. McCain won 89%, Romney 93%, George W. Bush 93%.  Divisive tactics hurt particularly with women, say experts. In states such as Pennsylvania this is evident, as Trump has 27% there for women overall and Clinton 58%, according to one poll. The Rutgers Center for Women and Politics has studies on how women diverge in their concerns and lives from men- from lower pay, longer life expectancy, and role of government in helping them,  to cite a few. Clinton has released television ads in 5 swing states directly appealing to mothers, showing children, and emphasizing kitchen table issues, job creation. College educated white women in particular carefully look at the issues, and make independent judgements based on character and temperament, and are less likely to ignore repeated provocative remarks or clearly sexist comments. ...

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One third of UK junior doctors and trainee doctors are at high risk of burnout. After a 22% pay increase under Labour the junior doctors say more needs to be done about the stressful conditions junior doctors face. Junior doctors feel like they are doing multiple jobs, and the culture of blame can be toxic, a sense that things can deteriorate at any time.

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Damaging the Spellow Library in a living space in the working class district of Liverpool by rioters in August 2024 was a disgrace say residents. People in the area desperately need safe community space and a chance to read the books they love, say people who came up with funds for restoration.

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At this rate China and India will through the time young people are being encouraged to pursue reading and education- and through strictly regulated social media and videogames in China and TikTok banned in India- move in the direction of developed nations and the US with 150 million users of TikTok be moving in the other direction where Brazil 126 million users and Indonesia 99 million users are. This report in MIT Technology Review says in 2022 the children and teenagers in America spent 103 minutes on TikTok. Tiktok and Facebook split the social media market with about 5 billion minutes each. If users are on both this could give an average of 206 minutes or over 3 hours a day. Consider that there is a Chinese version Douyin. In China its version of TikToK is strictly regulated for a long time now and nowhere poses the kind of threat to education, reading and building a better educated population in China than in the US. Is that a conspiracy. No, says MIT Technology Review, it is because how quickly and forcefully the Chinese governments regulates digital platforms.  It a clear failure of the US Congress and the federal government that has led to this situation where this may be the first generation of young people that are less prepared for civic responsibilities and are from the amount of time dedicated to social media spending less time on reading to to be knowledgeable, and reading in general for education.  In China action is swift. Take for example video games and addiction. In 2021 the rule was put in that children under 18 could only play video games between 8.00 pm and 9.00 pm on weekends and holidays. They are blocked from using outside of these hours. China is looking for new measures that require creators to obtain a license, and for ways for the government to regulate the social media algorithms themselves.  ...