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White House and Republican proposals in fiscal cliff negotiations to simplify the U.S. corporate tax code, remove deductions, and lower corporate tax rates from 35% to between 25-28%. CEO's meeting president Obama said corporate tax code needed to be addressed to improve U.S. competitiveness. CEO's showed a willingness to accept higher individual tax rates to generate revenues. White House proposals would give lower rates to manufacturing companies.

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DJT raises issue of NATO countries Turkey Hungary and Slovakia others buying Russian oil and gas + EU trade with China while asking for US help. Britain is a NATO country expanding trade with China while being strident about Russia. Germany has over two decades built economic relations with China through a period of Russian attacks on Ukraine including the Scholz administration approving China's stake in the port of Hamburg. India has been singled out by the EU and US, and by DJT with high tariffs while Britain and Germany carry on expanding trade with China. DJT believes China's support has emboldened Russia in its policy in Ukraine including pausing peace negotiations.

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Late career layoff have affected savings of middle and professional class of Americans since 2009. Recent data show 25% of those laid off in years when kids college tution and other exorbitantly growing expenses can strain budgets and savings, are not able to find jobs. Others end up in lower paying work. Fewer job protections under Anglo Saxon capitalist economies of US and Britain compared to Germany and France lead to his type of job loss being more prevalent in these societies. Sometimes US can offer more job opportunities but this also comes with more job loss for many reasons. 

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Reading a physical book is better than seeing some on on You Tube reading a book- this becomes a problem with You Tube targeting schools and school children with its Chromebooks in American schools. You Tube has become prevalent in American classroom and its marketing works closely with parents and teachers. Problems are that children can end up spending too much time watching You Tube, neglecting reading and home work. Watching a person read on You Tube gives verylittle of the benefits from reading a book oneself. The practice of reading is an important skill and can be developed only by reading and reading a physical book. Attention spans become shorter when watching You Tubes and more You Tubes. Sweden has studied the problem of using screens with teachers, education experts and curriculum experts and is now moving all its classrooms from screens to binders that include exercize books for children to write in. Writing is similar only when takes up a pen and paper can one write and write more till one gets better at it. Sweden should be closely followed and the US should start using a similar approach to fight the lack of reading comprehension skills in American schoolchildren as part of the Movement for Global Literacy of lyrarc.com. ...

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Travel to one of America's best national parks Grand Teton National Park is still one of the top destinations for travelers. Jackson Hole Wyoming airport is being expanded in 2025.

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Fox News and WSJ are taking differing positions on Epstein case with Fox News ignoring it and the WSJ carrying the story. Murdoch and DJT have a complicated relationship in July 2025 following the $10 billion DJT lawsuit against Murdoch filed in late July after a story in the WSJ. WSJ parent company Dow Jones says it stands by the story and will defend the accuracy of its reporting. Both the DJT Republicans and the Fox News network appeal to conservative viewers of television, and people in business. WSJ has carried stories questioning the tariff policies of the president, and is critical. It is also not fully supportive of policies to handle migrants. Fox News another Murdoch news outlet is through programs like "Hannity" supporting the president and DJT supports it. This creates a dichotomy in the support when DJT and Republicans are putting forward an agenda that is moving fast on the economy, migration, crime, and world trade requiring support to keep the conservative groups together in the US. This is not a situation encountered before as the nation is moving to a crossroads in which direction it should take. And this does not even take up the issues of climate protection which will come up, and of pharmaceutical companies overcharging Americans for healthcare, other battles that will take place.   ...

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75 years after independence a trustee of the Sabarmati Ashram, Mr. Kartikeya Sarabhai, asks visiting British prime minister Boris Johnson for help in building the Gandhi archives. Most of the repository of documents held by the Sabarmati Ashram Trust are from Mohandas Gandhi's struggle for Swaraj in India, very little is from Britain such as documents in the British parliamentary and Foreign Office archives, and other British archives. This would help the Ashram Museum to give a more complete picture of what happened during the struggle for Swaraj or self-rule. That this request is being made only now is because of the neglect into which both Britain and India have left the state of trade, economic and cultural relations with India. The visit of Mr. Modi to the UK for the Glasgow summit and Mr. Johnson's visit to Gandhi Ashram on the Sabarmati river, comes from a realization that a lot needs to be done to catch up. The sheer enthusiasm of Mr. Johnson shows how significantly Britain, Europe and the US have changed in their understanding of the aspirations and hopes of the Indian people, as one people with aspirations for development and modernization. ...

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How Mamdani won NYC - 20-40% increase in turnout on a 100 degree F day. And by increasing the liberal coalition of the 2021 Democrat primary of Kathryn Garcia in lower Manhattan, and of Maya Wiley in other parts of NYC. This is what a Washington Post Analysis of the 43% of the vote won by Zohran Mamdani a 33 year old NYC resident shows, as his opponent Andrew Cuomo got 36%.

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The campaign rhetoric for renegotiating NAFTA and building a wall at the border has had a sharply negative effect on growth in Mexico. Growth slowed in 2016 and is expected to be close to zero in 2017 with declining foreign investment in the economy. The uncertainty is leading to sharp decline in foreign direct investment of 24% in the first 9 months of 2016, according to the Bank of Mexico. Further declines can be expected in 2017. The decline in the value of the peso of 16% since May 2016 has led to 6 interest rate increases in the past year. Inflation on annual basis was at 4.72% in Jan. 2017 and is rising. As Mexico depends on exports for one third of its output growth, and 80% is sent to the U.S., there is a need to diversify with trade agreements made with the European Union and other countries. Mexicans now question the value of NAFTA trade agreement as average growth of 2.6 since NAFTA was signed is below the 4.6% in the 2 decades prior to that. And poverty level is the same with about 60% of people in the underground economy. In addition crime, drug trade, a weak education system, weak rule of law, political corruption, show that Mexico has not made the progress since NAFTA that it should have made. ...

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Fred Hiatt of The Washington Post describes U.S. president Obama's mishandling of Syria during his second term as president leading to the situation today.

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The U.S. Federal Reserve announced on Dec. 13, 2016, that it would increase its benchmark short term interest rate by 0.25 percentage point, to between 0.50% and 0.75%. The increase will also be reflected in business and household borrowing costs. The Fed also announced its intention to make 0.75% percentage point increase in 2017, possibly in 3 quarter percentage point moves. The Fed's forecast is for the fed-funds rate to reach 2.1% at the end of 2018, and 2.9% at the end of 2019. The Fed's policy is based on a sense of strong labor market with unemployment falling, and says it is based on discussion at a 2 day meeting, and "in view of realized and expected labor-market conditions and inflation." This reflects a view that there is now not that much slack in the labor market, that further improvements could trigger higher inflation. Fed forecasts for inflation are for it to increase from 1.5% in 2016 to 1.9% in 2017 and to the target of 2% in 2018. The unemployment rate of 4.6% in 2016 is forecast to go to 4.5% in 2017 and remain at that level till 2019. Economic growth is forecast at a median annual rate of 1.9% in 2016, 2.1% in 2017, only a slight improvement from last forecast in Sept. 2016. Support for chairwoman Yellen's policy decision was unanimous. See the link on views of NYT's Binyamin Applebaum and Neil Irwin on how Fed rate policy and economic growth under the Trump administration is likely to play out, and Ian Talley's report on impact on exports with a stronger dollar in WSJ. These views also are in line with the Fed's forecasts and policy decision as they reflect the concerns of the Fed about inflation, and also reflect the Fed's view that growth will be close to 2% in 2017-2019, and not the 3-4% stated by Trump and Treasury Secretary Mnuchin. Fed rate policies to keep inflation at about 2% tend to counter stimulus spending by the Trump administration and effect of tax cuts. The size of the stimulus and the tax cuts are also likely to be much smaller than stated because of Republican concerns about the deficit in the U.S. Congress, according to these views. The stronger dollar also has the paradoxical effect of making trade gains more difficult while increasing trade friction in tougher bargaining supported by Trump, making the higher growth targets harder to reach.   ...

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Virginia Supreme Court ruling against redistricting.

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President Obama comments on the Trayvon Martin shooting saying- "Trayvon Martin could have been me 35 years ago." Trayvon is a black youth shot by police in a Florida gated community. Obama was critical of racial profiling and gun laws. Obama said three sets of experiences are shared by African American youth- being followed in department stores, hearing the click of car doors locking as they cross the street, or watching women clutch their purses nervously when they enter an elevator.

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Bloomberg television interviews Russian President Medvedev.

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The details of a $2 trillion rescue package for business, the economy and households which was passed in the U.S. Congress. The U.S. government plans to take stakes in airlines in return for assistance. Some of the aid $25 billion is in the form of direct grants and some $25 billion in the form of loans. This is how it breaks down in the legislative text as shown in WSJ. To keep businesses open and from laying off employees- $454 billion loans for large companies, and $349 billion for small business loans. Safety net for families. Payments directly to households $301 billion. Unemployment insurance payments $250 billion. Support for the public health systems in states, and private health systems to tackle the health crisis and meet new needs of $117 billion. Aid to states  $150 billion To maintain flow of goods. Direct grants to cargo carriers and airlines of $29 billion. Other $198 billion.     ...

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The U.S. economy generated 280,000 jobs in May 2015, according to the Labor Department. The unemployment rate increased slightly to 5.5% as more Americans were looking for jobs. This report suggests the weak 1st quarter jobs numbers are a temporary situation from the severe winter.

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See these really remarkable black and white pictures of what happens in a period of decay for industrialized economies as old industries die out- as happened in the UK,  in the US with communities left without hope. Only now with Biden and Starmer a new sense of purpose for the US and UK to correct what went woefully wrong- no plans for transition to new industries and outshoring of the nation's industrial base. This exhibition of 20/20 of photos taken by Kilip and Smith in black and white is at the Parr Gallery in Bristol, UK- you can see it here by clicking on original article right now. It is the failure to plan for the transition that has led the Conservatives from Thatcher onwards to the situation today, and a similar situation in the US from Reagan onwards. The haphazard transition has let China take the lead in new industries with government support. Only now is America under Biden making a real transition and backing up new industries for factory jobs with government support and planning for the next 10 years. Britain with the Conservatives in charge is without a clue and financially strapped- the mood in Birtiain is now for Labour under Starmer to right things the way Biden is doing in the US.  ...

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Kemal Kilicdaroglu is the leader of the Republican PHP party of Kemal Ataturk, who built modern Turkey after the fall of the Ottoman Empire. He was a civil servant for 30 years and headed the social security administration. Kilicdaroglu campaigns in a modest way with videos made in his kitchen in a big contrast to Mr. Erdogan. Since losing the election for Istanbul in 2009 and 2014 he has lost 2 presidential elections to Mr. Erdogan during the period of economic growth in Turkey. He now heads an alliance of 6 parties that includes popular mayors of Istanbul and Ankara. With inflation at over 50%, Turkey seen as stalling strengthening of NATO by blocking Sweden's membership, the Russian invasion of Ukraine, and the earthquake leaving over 50,000 people dead in Turkey and the government seen as having allowed substandard construction in Turkey, there is a sense that Turkey is ready for a new government. Kilicdaroglu says he will restore the parliamentary system, and restore independence of the judiciary, central bank and foreign ministry if he wins.    ...