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Saudi Arabia signed a series of agreements with India at the G20 Summit with $100 billion in investments planned including digital, rail, energy  and other connectivity for the IMEC corridor for India through Middle East to Europe. Saudi prince MBS announces the IMEC Corridor and talks about its significance at the G20 Summit.

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A 30 year US mortgage rate is 7.57%, it was at this level in 2000. With fewer home on the market and limited inventory, high prices for homes limiting affordability, the sales of existing US homes declined to 4.1 million in 2023 the lowest since 2008. Median home price is about $350,000 today.

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The last major oil company controlled by a family is Amerada Hess. Leon Hess drove a green colored truck to deliver fuel in New Jersey about 100 years ago and his son runs the company. This ownership and the name is now history with the sale of the company for $53 billion to Chevron.

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Questions remain about whether such harsh austerity measures will work. The absence of alternatives have led to Argentines electing Milei as president to try a radical approach to fight inflation. The sudden increase of Buenos Aires subway fares by over 300% is part of the approach to improve state finances and bring inflation down. 

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The married couple standard deduction for 2023 is up 7% to $27,700. If you are a senior and over 65 years or blind this goes up by $3000 to $30,700. The Medicare tax deduction comes in if you are self employed or have an LLC so that you can deduct for Medicare and for Medigap policies.

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Lower prices of European stocks makes them more attractive. Cuts in interest rates by European central banks are another factor in pushing the French stocks CAC index and the German stocks DAX index by 8% and 9% respectively. This compares to the S&P 500 Index for US up by 2.45% by February 7, 2025.

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A tiered plan of high low and medium categories for tariffs nations was not adopted after long discussions in favor of individual nation tariffs. This will take much time to implement for the 200 nation staff under Trade Representative Jamieson. First reciprocal tariffs go into effect April 2, 2025 on Mexico and Canada.

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French and European attitudes towards Russia that are part of French German and British history and relations with Russia since 1700 of a constant rivalry and efforts to keep Russia dominating Northern Europe since 1700, or regional rivalry and wars including invasions. This colors most of the perceptions of Russia in Europe as shown in this article in Le Monde. This is in sharp contrast to the US. The US has differences with Russia but has not gone through the European constant rivalry and struggles over 400 years.

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Professor Yann LeCunn of the Sorbonne University, France, is a pioneer in the field of AI.  He is now focusing his work on Advanced Artificial Intelligence AAI, saying that the large language models which are being developed in a surge of data center spending of $400 billion in 2025 alone are not the way AI will develop in the future. AAI is based on visual learning similar to how an infant learns, and not by consuming large amounts of data as under large language models.

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Aldi store name comes from the store name Albrecht's Discount for stores opened by 1961 in Germany by the Albrecht brothers. The brothers worked at their mother's grocery store in Essen Germany, following their father's disability and not being able to work in the mines. After serving in the war the two brothers expanded the small family grocery store into a chain of about 15 stores. By 1955 this chain had expanded to about 100 stores, and in 1961 the chain took on the Aldi name. The brothers separated their business in later years with Karl taking on the Aldi Sud stores in southern Germany and expanding into UK, Australia and the U.S. Theo, the younger brother, ran the Aldi Nord stores in northern Germany, of what was then West Germany. Aldi Nord expanded in Europe and acquired Trader's Joe in 1979. The two brothers agreed to stay out of each others territory in this unique arrangement. The Albrechts felt strongly in the post war conditions in Germany that "customers with very limited income should be able to eat and drink quality food," according to a statement by Aldi Sud. Karl Albrecht saw this as his calling- to find creative ways to do this. One way was to get rid of other unnecessary expenses such as display and advertising that could be passed on as savings to customers. In this sense Aldi laid the ground for American retailer Wal-Mart. By 1955 Aldi had 100 stores in West Germany. Expansion thereafter made Aldi a household name in most parts of Europe and the U.S. Karl and Theo remained reclusive throughout their life, more so after Theo's kidnapping in Essen in 1971 for a ransom of 7 million deutsche marks. Karl operated the Aldi Sud stores till he was 75 and passed away in 2014 at the age of 94. Ikea founder from Sweden also has a similiar history in being very private, frugal, and living in a small town in Switzerland, providing direction to the company well past his eightieth year. He pioneered the concept of well designed quality furniture at affordable prices that passes on savings to customers. The same concept and vision inspired Ikea founder- that people of average means and younger families starting a home, should be able to afford furniture quality and design in their homes....

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Expert views that the G-7 meetings in Cornwall and the Carbis Bay pledges were not adequate in providing financing for climate change goals. Climate finance falls far short of the $100 billion planned by 2020.

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The performance of stocks and bonds compared since 2000, and the view of experts for future performance.

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White drives a Chrysler 300 sedan diesel powered and made for European use, fast enough to go past speed limit but still gives an average of 28 miles in city and highway driving. The EPA rating for this car is 22 miles per gallon in its US V-6 model, so the Chrysler CRD 300 made for Europe has a 27% fuel efficiency advantage over its American counterpart. White borrowed it from a friend who was showing European diesel technology in the U.S. Cleaner diesel technology is spotlighted in this test drive. Also attention is drawn to fuel availability. This fall oil companies will be required to supply Americans at the gas pump with low sulfur diesel fuels on which the diesel cars with the clean diesel technology run, for cars like the Chrysler CRD 300. Automakers from Japan, Europe and the US are looking to transfer this technology developed for Europe to the US, with some improvements to meet American environmental standards, especially in lare sedans, SUV's and pickups. The statistics for US diesel use on the road are as follows: 1. About 3-4% of light vehicles in the US run on diesel. White quotes industry executives as comfortable with a JD Power estimate of diesel use by 2010-2012, or about 6-8 year horizon of 10% of all passenger vehicles. 2. John Moulton, president of the powertrain division of Robert Bosch Gmbh, forecast diesel use by 15% of the passenger vehicles in the U.S. by 2015. Use in Europe is about 50% by comparison. 3. Usage of diesel will be highest in the bigger cars and vehicles . This is where the 20-30% savings in fuel cost would be substantial enough to cover the $2000-$6000 additional cost for the diesel powered vehicles using the latest clean diesel technology. DaimlerChrysler is already moving forward with coming up with versions of the diesel models used in Europe for the American market. VW currently is the leader in the American market. About 20% of VW's sold in April 2006 use diesel. This is going up every year 12% in 2004, 14% in 2005. In 2008 VW will have all its mainstream models available in all 50 states in diesel versions. ...

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The large infrastructure investments in the high speed rail network - estimated at $300 billon- have increased the debt of the railway ministry to about 5% of national GDP in the 1st quarter of 2011.The high speed rail lines are not likely to be economically viable, with revenues not enough to pay for operation and investment costs. With the higher fares it would take 9% of monthly disposable per capita income of urbanites or 555 yuan ($86) to pay for the cheapest ticket on the 300 mile Beijing-Shanghai high speed rail line. This makes high speed rail less affordable for middle and lower income people in China. The acceleration of the program in 2008 with stimulus funds and the moving up of deadlines for completion have led to corruption, stress on suppliers, and overinvestment. The program suffered from lack of good financial management and supervision in the rush to complete the program. Lack of equitable access and affordability to income groups from a majority of Chinese people have left the impression that it was for higher income groups. Higher tolls on highways and now the higher prices on highspeed rail have left the impression among ordinary Chinese that all income groups are not being served by the large infrastructure investments....

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A steady decline in the price of Brent crude from $115 to $92 in the period from June to October 2014. Slow or no economic growth in Europe, and declining growth in China was the main reason. A cut in oil price by Saudi Arabia in September with lack of coordination in OPEC to control supplies when prices are declining, and increasing supplies from the U.S., provided additional basis for price declines. This price decline comes as large energy companies invested heavily in mega-projects to bring more oil supplies when prices were up to $128 by mid-2012. Consulting company EY estimate is that there are 163 such mega projects worth $1.1 trillion underway, most behind schedule and over budget. The projects were based on oil prices being over $100. Oil field development costs are increasing rapidly. Douglas Westwood, a consulting firm, estimate is that productivity of upstream capital spending has fallen by a factor of 5 since 2000, declining by 5% a year, as oilfield equipment and services demand exceeds supply. Greater technological sophistication also adds to cost such as Shell's Nobel Bully platform for deep sea drilling. See link- Noble Bully. Oil majors are now cutting spending, and some planned big projects are on hold. About $300 billion in assets may be up for sale. Shell plans to cut spending by 20% in 2014, Exxon and Chevron 5-6%. Shale oil projects in America need about $57 to be profitable with an internal rate of return of 10%, by one estimate. Yet this is an average and does not reflect differing producer costs. This estimate does not reflect the high cost producers, some of whom need closer to $110....

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Investment by a large private investor in auto supplier Lear Corporation. See the related article on Collins Aikman and the price position at the urging of hedge fund investors that led to closing of Ford's plant in Hermosillo, Mexico, which makes Ford Fusion cars.

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The severe impact of sanctions on availability of car parts in Russia is shown here in this Guardian report. Few industries are impacted by Russia's total isolation as the car industry says this report. Car sales in Russia have dropped by 84% according to the Association for European Business and car prices are up 50%. Import substitution is not working for the car industry say experts. The owner of a car repair firm in Moscow says speculation for car parts is rampant with parts cost up by 800% and original oil up 1000%. Reports show counterfeit or stolen parts flooding the market. The airline industry is also impacted by the severe shortage of aircraft parts. One Russian pilot says there are enough aircraft wheels and pads for one month maximum. A manager of Sukhoi Superjet says he gives the Russian airline industry one year if nothing changes. Safety concerns of pilots are being ignored says one pilot. Parts are being cannibalized from older planes for new ones to keep them running. With the nation's automobile and airline industries affected in this way the quality of living is affected in Russia only 3 months into this war. Having a large inflow of revenues from oil and gas for the 6-12 month period that it takes Europe to respond, and a large reserve fund of about $610 billion is not a real reflection of the strength of a country. In today's interconnected system of supply chain no degree of industrial strength would allow a nation to wage war through invasion with impunity without finding itself in severe difficulties for the quality of life in the country as the world community responds. The response is to prevent the wrong lessons being drawn by one nation using full scale war to occupy another nation and getting away with it.    ...