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Retirement in America 2026- what to watch out for- $6500 per month full time home health aide. There is  $45.8 trillion in US IRA's 401 (K)  in 2026. It was half that in 2015. People are saving more 8-12% of income. A lot of it invested in arget dated mutual funds. Yet older Americans, seniors are facing poverty- 15% in 2025 compared to 10.7% of older Americans living in poverty in 2021. cost of living has hit this group the hardest. Removing the tax on Social Security could be prescient, popular and fair for these Americans, as suggested by DJT. If invested well this $45 trillion could give the US leadership in investment for decades to come as it grows with good management of investments raising living standards and financing the Nation's rebuilding of infrastructure in all areas.

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This analysis by Julian Borger of the Guardian newspaper cites experts including former Defense Secretary Perry, on the problems with the Trump escalation of rhetoric with North Korea. The U.S. president promised "fire and fury" in a tweet he made, after the increased sanctions passed in the United Nations had already raised the pressure on the North. Perry says the president has no plans to back up what he says, which hurts U.S. credibility posture. The North Koreans responded by saying they are looking at an attack on the U.S. Guam air and naval base in the Pacific. Other experts warn of the danger of stumbling into something unprepared, and increasing the unpredictability with and adversary who is unpredictable to begin with. Wolfsthal, an expert from the earlier administration under president Obama, says the risk of escalation becomes very high because a miscalculation could take place. Rex Tillerson, the U.S. Secretary of State, tried to tamp down the stressful situation by saying that no action is planned. The U.S. insists it is open to negotiating, but the condition is North Korea putting the ending of its nuclear weapons and missile program on the table. The North Koreans have conveyed their opennesss to negotiate at a meeting in Manila, objecting to the U.S. "hostile" policy as an obstacle.    ...

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Latest data from the U.S. Treasury shows it has collected $63 billion in tariffs over the preceding 12 months. Even though there is no agreement on trade with China, president Trump says the U.S. is benefitting from higher tariffs by tens of billions of dollars. In May he estimated tariff revenues could reach $100 billion.This report in the WSJ says this could happen if the the new tariffs of 10% on additional $300 Chinese goods imported to U.S. goes into effect on September 1. This is likely considering that China sees this in different terms than the U.S. such as its sovereignty, whereas the U.S. sees it simply in terms of fair trade. With new elections China may be simply putting things off till the election is decided as Mr. Trump has pointed out. The tally of what the U.S. Treasury gets annually if $100 billion is generated in tariffs goes something like this. Of this $30 billion was generated previously for the U.S. government, so the incremental amount is $70 billion. Of this about $16 billion goes to offset the effect of loss of farm exports to farmers, mainly soyabeans exports to China, through a rescue fund. This leaves additional $54 billion for the U.S. Treasury. Money that could conceivably be put back into infrastructure that the U.S. badly needs in mobile and fixed to improve internet speeds and move up from its low rankings compared to China and other countries. A WSJ report this week shows Germany in worse shape than the U.S., both countries having dismal status in mobile infrastructure- the U.S. at No. 37, and Australia No. 4, Canada No. 3, and even Croatia No. 9. This throws some light on why this trade dispute has become intractable, for China the right of a sovereign nation to move past middle income status even as its telecom technology with Huawei 5G is top class, and for the U.S. the right not to fall behind in advanced technologies such as Telecom. It is also why one hears so much about Huawei and why it has become a flashpoint of the conflict in trade and trade practices. It is thought Mr. Trump is conducting this trade dispute. Yet less known is the fact that prominent Republicans in Congress such as Senator Warner have stated on television talk shows that they are concerned Mr. Trump may give up too much in negotiations that lead to the U.S. not being able to compete in telecom advanced technologies that matter for competitiveness and for national security. What was treated by Bush and Obama administrations routinely without much attention to the consequences is now a top concern for Republicans and others in Congress and business. ...

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BBC environmental correspondent points out that the climate change executive order from U.S. president Trump reversing Obama's clean energy policies is designed to change the narrative to job creation. This follows approval for building the Keystone pipeline from Canada to bring oil from oil sands production to the U.S. The pipeline was also presented as a job creation effort. Environmental groups oppose the president's action. Court action and challenges are seen as helping Republican policy of delaying implementation of Clean Power Plan policy setup to control carbon dioxide emissions under the Obama administration. 

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Iraq is an artifical entity, an artificial state created by the British out of the defeated and disintegrated Ottoman Empire. Created from 3 Ottoman Arab provinces- provinces or vilayets of Mosul province which was mostly Sunni, Baghdad province, the city of Baghdad  mostly Sunni and rural areas Shia, and Basra in the south mostly Shia from tribes who converted to Shia Islam extending the reach of Shia religious sites such as Karbala. Note that the Sunni Arabs were closer to the power structures of the Ottoman Empire than Shia in the 18th and 19th century. As a result post war Iraq in 1950's was dominated by Sunni elites and the British imposed Faisal 1 monarchy of 1921 was thrown out by Sunni elites in the army in 1958 by Karim Kassem, followed by the emergence of Saddam Hussein from Pan Arab Baath socialist ideologies of that period.  After the US wars in Iraq and Iraq- Iran war, Iran mobilized Shia into popular militias. In 2026 Iraq is essentially several ministates pulled together in Baghdad, with Shia, Sunni and Kurdish ministates formed into the governing structure, and everyone praying for no outside interference to pull it all apart and maintain a fragile peace. While the British got Iraq Mandate from League of Nations in 1921 French got Syria provinces of the Ottoman Empire. In fact Sykes and Picot are the British and French diplomats who created artificial states of Iraq and Syria to suit their interests in the region for oil and for controlling Suez and territories in India, Indochina, Hong Kong, parts of coastal China (Shanghai). Why is this important? It is important because at the time Britian dealt with weak Sunni populations that were controlled through monarchs they put in place, and the British and French industrial power had no rivals. Today the Sunnis are mobilized and the Shia have with Iranian support mobilized also, and sectarian wars have torn the place apart for 40 years. America's founding fathers and first president George Washington, would if here today consider this the one place US would have nothing to do with in terms of wars and bases. On oil George Washington would advise America to find alternative sources than get dragged into useless sectarian wars and lose the battle for reindustrialization, after America's elites and their economists have essentially deindustrialized America. It is appropriate for the US president to take action only on grounds of not letting the place fall into regimes with ballistic missiles and nuclear weapons that could reach US and Europe. And for that China and Russia, India and Brazil, Germany and France should also do their part and fulfill responsibilities. As for Britain and France it is appropriate for the US president to say to the posturing in Europe and ambivalent posiions, "Go, get you own oil in the Hormuz," as the US is self sufficient in oil and does not need Iranian or Iraqi oil. It is also appropriate knowing that this Iraq and Syria were created by Sykes and Picot and the British and French to build and sustain their Empires that no longer exist because Turkey and India, and China, through the effort of Gandhi and Ataturk, Sun-Yat Sen and Mao, Brazil also, are now strong independent nations. The message is- if Germany can do it to get only 6% of energy imports from Hormuz straits, so can China and Japan. China and Japan get 90% of their imports from the Hormuz straits and there is no reason why China and Japan, Britain, India need to be so dependent on a region where disruptions have happened again and again for 40 years. If they do not want to change they can assume the responsibilities of keeping Hormuz Straits on their own. ...

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The government bailout of Fannie and Freddie was expected to cost hundreds of billions of dollars according to some estimates during the financial crisis in 2008-2009. The costs peaked at $187 billion in 2011. The transfer of $59.4 billion by Fannie Mae to the U.S. Treasury in 2013 lowers the net cost to $60.5 billion. The net cost of the Troubled Asset Relief Program or TARP has decreased to less than $23 billion. At one point the cost of TARP reached $419 billion for the U.S. Treasury. The government sold the last of its shares in private insurance company AIG and made $22.7 billion in gains. Treasury and Fed loaned $182 billion to AIG and at one point owned 90% of the company. Chrysler exited the TARP bailout program in 2011 at a net cost to the U.S. government of $1.2 billion. So far in May 2013 the GM bailout cost $19.6 billion, this would come down to about $11.82 billion if the U.S. government sold its GM shares at the price in May 2013. The U.S. Federal Reserve says it has not lost money in any of its emergency lending facilities, even though some loans are outstanding. The FDIC says its fees from rescue programs exceed losses....

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Short time work programs, paid leave, aid to small business for employee retention with the government paying a big percentage of wages, and unemployment benefits till companies rehire employees with government paying for this, are all different ways in which the U.S. and Europe are coping with the coronavirus crisis.  In the U.S. 22 million have applied for unemployment benefits with the U.S. government picking up a substantial part of the wages till companies rehire these employees. In the UK the government has launched a program that gives 2500 pounds or $3100 to each worker each month upto 80% of the worker's pay. The money is sent to businesses for retaining employees. This could cover estimated 8.3 million workers in the UK at a cost of $52 billion. The U.S. has a similar program with the first phase $377 billion already distributed to small businesses which requires retention of employees for government forgiveness of these loans. The basic idea is retain employees who could stay at home or be in short work programs or work from home. The French government is paying the wages of 9.6 million workers, almost half of workers in the private sector by sending the money to 785,000 small businesses. In Germany the Kurzarbeit program covers 725,000 companies which supports the wages of employees in a downturn and is financed from a special fund. The cost for Germany, France and Spain is about $147 billion or 135 billion euros for such programs. The European Union will step in with a 100 billion euros loan package. ...

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The U.S. makes its first interest rate cut since 2008. The U.S. central bank, the Federal Reserve cut interest rates by a quarter percentage point on July 30 2019. For seven years after the financial crisis of 2009 the U.S. central bank cut rates to generate business investment confidence and initially to prevent a deep crash in stock markets. In making this cut the U.S. is now a follower of the European central bank which is cutting rates to stimulate the economy. The U.S. does not want to see too much divergence with European interest rates which are showing negative yields and the U.S. at about 2.25% putting the U.S. with a disadvantage in trade from a stronger currency that results from higher rates. That crisis was a result of poor lending by banks in an irrational search for profits that never materialized. It ended up hurting the savings of ordinary Americans who earned close to zero on savings accounts. A similar pattern was seen in Britain and the European Union, resulting in a loss of confidence of working class voters in the established political parties and the emergence of Trump in the U.S., UKIP in Britain, AfD in Germany and the National Front in France.  ...

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White House Correspondents Dinner shooting on April 25 2026 at Washington Hilton, the scene of the shooting of Ronald Reagan decades earlier. It is unbelievable that over 2000 guests including the US president and important members of his cabinet would be assembled in a hotel in Washington DC that is not designed for this type of event security. The Washington Post raises questions about the security as the assailant stayed in the hotel. The president DJT says this shows why the White House should have a ballroom or hall that can hold such an event that is designed with security in mind. A 31 year old graduate in mechanical engineering from the California Institute of Technology who worked as a tutor in science subjects was the assailant who was apprehended. Secret Service agents acted quickly to clear the podium where the president and vice president were seated. Most of the people in the hotel ballroom were in complete shock. DJT has not attended previous correspondents dinners saying the media has fake news- much of the press in the US tends to have political leanings that slant the news in one direction or the other and television channels exaggerate the divisions for profit by supplying information tailored to what audiences in their political spectrum want. That may be seen as a clever business strategy when it really hurts the  democratic process that has been nurtured for 250 years. It could be said that young people in particular believe what they are told by media run for profit, opinion created for profit, and this leads to violent behaviour. A robust debate has always taken place in the US- on Iran compare that with the Mexican War under president Polk in the 1850's, before the civil war when Lincoln debated Douglas, under Democrat Harry Truman when he did a whistlestop rail campaign after the war against Republican Wendell Wilkie, yet the fragmentation of rural-urban, white male and white female, within minorities today is excessively and without remorse stoked by the television channels and the newspapers.  ...

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WSJ  Mark Halperin Interview with Scott Bessent who manages the US Economy for president DJT. Tackling cost of living, tackling wage rise for lower income Americans, managing trade relations for a level playing field, trade negotiations with China, business agreements with other trading nations, are all part of the work done by Scott Bessent. At an important juncture in American history Scott Bessent has a lot to handle requiring courage and wisdom to put America back on the path to reindustrialization and modernization. At crucial moments it is Bessent's wisdom and instincts for markets and the economy that guide the president.

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Black and White pictures of Jesse Jackson with Martin Luther King, Ralph Abernathy, 1968 in Memphis, Tennessee. DJT has described him as "a force of nature" with "lots of personality grit and street smarts." He played a role in civil rights in the US as black Americans gained equal rights under the law- particularly in southern states of the US which had segregated schools, restaurants, buses and parks following the civil war of 1865.

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Pakistan prime minister Imran Khan visits the White House to meet president Trump. Mr. Trump welcomes Khan and lauds the Pakistani leader as an athlete and a leader. He tells him trade deals can be struck, future was bright and flow of aid can be turned on. Trump makes a casual offer to help mediate the dispute between India and Pakistan over Kashmir, even though it is certain that nothing comes out of this, because of India's position not welcoming other countries doing any mediation. At the heart of this reconciliation is Afghanistan and president Trump's conviction that Pakistan can get the U.S. out of Afghanistan. Trump stated this- "I think Pakistan is going to help us out, to extricate ourselves. Pakistan is going to make a difference." The idea is that Pakistan can persuade the militants, the Taliban, into a face saving settlement that will allow American troops to come home. Mr. Khan in turn stated that Pakistan had given up its policy of using Afghanistan to give it "strategic depth" against India. The army would not go behind the back of the civilian government to conduct a policy of its own. Mr. Pompeo and Mr. Trump are impatient to get this done. The deadline of Mr. Pompeo is September 1 and talks continue between the Taliban and representatives from Afghanistan. The U.S. effort is handled by Zalmay Khalizad. How Afghanistan is governed in the future is not determined and Pakistan has a key role to play in making a sensible solution take place if it decides that something new has to be tried.  In the past U.S. governments from both parties lacked the ability to take a good hard look at the facts the origin and evolution of this dispute. To tackle it directly with a willingness not only to call it for what it is but also to give the other side an incentive to try new solutions. The inventive style of the Trump administration to tackle the situation directly, but also come up with new and novel solutions is what is now being tried. ...

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U.S. president Trump announces withdrawal from the Paris climate change accords, saying the U.S. will consider re-entering the agreement  or coming up with a new deal. He said "I was elected to represent Pittsburgh, not Paris." Trump said he was concerned about the environment, and avoided saying climate change scientific evidence was not correct. He based his concerns on the idea that China and India were getting an unfair financial advantage over the U.S. The U.S. had pledged under the Paris accords to reduce greenhouse gas emissions by 28% from 2005 levels by 2025. The WSJ's Stokols and Ballhaus point out that president Trump had the option because of the nonbinding agreements committing nations to a broader goal of reducing emissions to combat temperature change of of 3.6 degrees F, to have modified emissions targets and still remained in the Paris accords. For Trump the motivation may have rested more on politics to shore up support in the Republican party which has largely opposed climate change targets.  ...

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Under the Volcker Rule setup during the global financial crisis of 2008-2009, banks total investments in private equity, hedge funds and similar higher risk funds cannot exceed 3% of high quality capital. During the financial crisis investment banks were highly leveraged leading to the collapse of Bear Stearns and Lehman Brothers, and the precarious financial condition of other banks. Goldman has pared down about 60% of such investments. Remaining are $4.8 billion in private equity investments, $1.2 billion in real estate, and about $1.1 billion in both credit and hedge funds. Regulators have given the bank till July 2017 to comply. As banks recovered from the impact of the crisis, the tearing of the social fabric that happened with high unemployment in some groups especially older white men, has remained six years after the crisis- as evident in the U.S. election campaigns this year. As a result the mood has shifted for tighter regulation and both party platforms, Republican and Democratic, now call for reinstatement of the Glass Steagall Act, which separated commercial banking from investment banking as part of the lessons learned from the Great Depression. Volcker, was chairman of the U.S. Federal Reserve during the Carter administration, known for taking a tough line against inflation. He was the principal driver of the move to restrict banks from risky activity, and faced considerable opposition from banks during the 2009-2013 period when the rule was being formulated.  ...

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Max Fisher of the NYT points out the unique approach taken by Canada in the U.S.-Canada relationship - to cultivate a grassroots network of Americans in legislatures, business, and at different levels of government. This has enabled the Trudeau government to build a relationship with president Trump, and at the same time have relationships at different levels of government and with business in the U.S. to tackle issues where the Trump administration has acted in ways unfavorable for Canada. Provincial governments in Ontario and Quebec lobbied against a New York state government provision for Buying American on state contracts worth over $100,000. By emphasizing the $10 billion in exports from New York to Ontario this lobbying persuaded the New York legislature to cancel the provision. Premier Trudeau's popularity helps and the proximity to the U.S. means Canadians can visit quickly and understand the U.S. as a close neighbor. Still Premier Kathleen Wynne of Ontario says Canadian businesses are nervous about the uncertainty from the Trump administration.   ...