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Cinemas opened in July in Britain.Cineworld which operates 124 cinema theatres in Britain plans to close after major film companies postponed major releases till April next year. The one film that was expected, a James Bond film with Daniel Craig in No Time To Die is being postponed till next year. About 5500 jobs will be affected and people affected can only go back to work after cinemas reopen.

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Many German hospitals depend on supply of doctors from other parts of Eastern Europe such as Poland and Hungary to address a shortage of medical staff. German hospitals have increased supply of equipment but are still facing serious shortages of medical staff as the second wave of the pandemic hits Germany. By December 8 there were daily over 590 deaths, and ICU capacity was being strained beyond a critical point.

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Manufacturing and building plants related to Green energy is a better path for Nevada to meet the needs of the people of the state. Dependence on casinos and the hospitality industry has hurt Nevada. The Redwood Materials plant near Reno, Nevada, is an example of this effort. It is a sprawling 300 acre facility that recycles old smartphones and other discarded items into materials for electric cars and other products.

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Captain Sir Tom Moore a 100 year old veteran who served in the Wellington regiment in World War II was knighted for his walks in his garden in Bedfordshire raising $3 million for the NHS.

His positive spirit is reflected in his words that he doe not feel very old inside, maintaining a youthful spirit in older age. He cooks his own dinner and walked for miles in his garden to raise money for the National Health Service.

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Libyans in the Benghazi region in the east and in the rest of the country went to vote for the first time in Libya's history. A historic moment even as the eastern region, which has 60 of 200 seats, is calling for higher representation. Under the present arrangement 100 seats go to the west, 60 to the east, and 40 to the south. The transitional government announced a change that a new election will take place for a smaller constituent assembly to write the constitution, with half the seats going to the east. This is an effort to get the support of people in the Benghazi region, which led the fight against the Gaddafi regime.

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This NYT editorial points to the achievements under Mayor Bloomberg in improving the city of New York- to renew life in the city as the major city for the free world. A crime rate that is down, cleaner environment, efficient transportation, and a $2.4 billon surplus. The new construction helped rebuild the city, and more livable space with 800 acres of outdoor space most along city shorelines, expansion of bike lanes to 600 miles, and promoting environmental improvements, a high tech campus on Roosevelt Island. All this without political skills and media hype, bringing candour and public spirited dedication for the city's improvement, and giving new respect to urban experts who used their talents in the city administration.

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Gongloff points out that the word exemption occurs on 100 of the 200 pages of the final draft of the Volcker Rule published for comments in September 2011, for a total of 426 times. The banks have 2 years after its introduction in July 2012 to comply with its provisions and are allowed to petition the board for 3 one year extensions taking the process to July 2014 or July 2017. And this whole exercizes resembles some form of kabuki theater as the title of this piece suggests, and makes going through its detail meaningless. Especially since the probability of a new administration in 2014 or in 2017 are high. At that time new rules would be written.

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In parts of the country like South Mountain near Phoenix the prison rate is 6 for every 100 people. The overall prison rate according to a Pew study is 1 person for 41 for black people 1 for 96 for Hispanics and 1 for 245 for whites. So Black and Hispanic people are the most overrepresented in the nations prison system. Arizona spends $900 million on corrections. Black people between the ages of 17 and 35 are extinct in South Mountain say some older residents of this area who take care of the grandchildren left behind. The emphasis on law enforcement has created safer quieter neighborhoods but it has also created a problem of missing young people.

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Solar energy takes a big step forward in scale with the 800 megawatt plant for Pacific Gas and Electric which is under a state mandate that it get 20% of its electricity from renewable sources by 2010. It will use photvoltaic technology to turn sunlight directly into electricity.OIptisolar which is making a type of solar panel with a thin film of active material will install 550 watts in San Luis Obispo county. The Sun Power Corporation which uses silicon crystal technology will installl about 250 watts at another location in San Luis Obispo county. This is a big jump from th 14 megawatt photvoltaic installation at Nellis Air Force Base in Nevada using SunPower panels.

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The astonishing fact about America in 2023 is that 90% of people in retirement are insecure in retirement with less than $100,000 in savings, and 50% have no savings at all.  A situation like this would be impossible when America led the world in manufacturing in the 1960's and savings of a majority of Americans in today's dollars were higher multiple times. A tiny one tenths of one percent have around $5 million and 4% have over $1 million savings in retirement. This report in WSJ by Dagher and Tergesen shows that only 3% of Americans have saved $1-5 million and one tenth of one percent have saved $5 million plus in retirement. People shown here are  software salesperson, pilot, surgeon, veterinary practice specialist. About 4% have savings of $500,000 to $1 million. 18% have savings of $100,000 to $500,000 of which the greater part of this number are closer to $100,000. This reveals the shocking fact that in today's America in 2023 only 10% are income secure, the rest 90% are income insecure, of which a shocking 50% have zero savings. ...

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India is storing as much oil as it can at today's low oil prices of about $20-$30 per barrel in May 2020. With India asking the U.S. to store oil from U.S. shale producers at its strategic petroleum reserve storage facilities in the U.S. Already its existing storage facilities of 5.3 million tonnes (39 million barrels) are full, and the storage capacity will be more than doubled with an additional 6.5 million tonnes (48 million barrels) to be built quickly. About 8.5 million tonnes (62 million barrrels)  are in ships on oceans around the world. Demand is only 20% during the lockdown but is expected to reach levels of 2019 by June 2020. Only about 20% of oil consumption comes from existing storage.   That Indian oil capacity is 39 million barrels of storage shows how little was done over succeeding administrations without national aspirations for a growing country with hundreds of million of young people, when the oil storage capacity today of 39 million barrels compares with over 500 million barrels for Japan and for China. A huge Indian government aid package of $280 billion for the economy can be offset by gains in other areas such as low oil price oil storage, and gains in supply chain manufacturing, increasing the size of the domestic market for local manufacturers with incentives and loans, and new rules for stressing local manufacturing for a self-reliant economy. ...

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The Thai government of prime minister Yingluck Shinawatra has committed to buy unmilled rice from farmers at 15,000 baht or about $500 a ton for the harvest in 2011. This is pushing up world rice prices.

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The Southern Nevada Water Authority has cut water consumption coming from the Colorado River by 25% over 2 decades even as population has grown by 50%. It has done this by fining people for excessive use and paying landowners to remove turf grass. One television ad shows a person being scolded for excessive water use and the line "Vegas is enforcing water waste big time."  As a result of water conservation, water pricing, and replacing turf grass, the seven states fed by the Colorado River and the reservoir Lake Mead have seen much improvement in water usage. Lake Mead hit by a drought in the years 2000-2015 is now risen by 25 feet to 1096 feet in 2020 making it 44% full, the highest level in 6 years. The water conservation efforts in Southern California have yielded results. Metropolitan Water District of Southern California gave out $350 million in rebates for replacing turf grass. Irvine Ranch Water District cut drinking water use by 20% with higher pricing for inefficient use beyond a set limit. Building codes are amended preventing turf grass in front of homes. Lawns and golf courses replaced turf grass, with some golf courses using desert landscapes. In this area of 10 million people 200 million square feet of turf grass was taken out. ...

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India's exports for December 2021 are at about $38 billion according to the Directorate General of Foreign Trade. In the first 9 months the exports were at $301 billion and on target for $400 billion for the current fiscal year. For 2023-24 the target is $500 billion in exports. By 2027 exports target is $1 trillion. For India this means nothing short of foreign trade being completely reimagined under Atman Nirbhar Bharat and Make in India. South East Asia is a new target for exports as new supply chains are being constructed.

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An intense debate is taking place as Spain's agricultural regions face prolonged drought. The Valencian Community and Alcoy depend on rain and in drought conditions can lose 100% of crops. Murcia, Alicante and Almeria in the south east get water from local rivers, desalinated water and from the river Tagus. About 40% of water comes from desalinated water and diversion of water from the River Tagus hundreds of kilometres further north. Irrigation helps farmers plant organic lemons in what was once a dry arid region, and drip dry irrigation conserves water. The Spanish government is planning to limit the drop in the levels of the Tagus river to conserve water in the river which would reduce water to the south east around Murcia and Almeria. This region is considered to be the vegetable garden of Europe.

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Mark Landler of the NYT says about the return of Boris Johnson as PM of Britain after 45 days of Truss- it is at once both incredible and inevitable. It would give a sense of incredulity and become a rallying point for a demoralized Conservative party say some Conservatives, much as he has done throughout his political career.   Boris Johnson already has the support of 52 MP's and needs 100 in parliament to be nominated for PM again. If of 367 members of parliament one of the three candidates Mordaunt, Sunak or Johnson withdraws the election would then be decided by 160,000 members of the Conservative party with whom Boris Johnson is very popular. Others believe that it was Johnson who won the election by a landslide and it is Johnson who got the mandate. 

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The free food rations programs with 5 kilograms of wheat or rice to 800 million Indians during the pandemic is one of the extraordinary accomplishments of the Modi administration. It has been extended till the end of 2022. Both Finance Minister Sitharaman and prime minister Modi have shown extraordinary empathy for the common man during the pandemic and India's program of wheat rice and vegetables is unprecedented in world history for its scale and efficency. The scene of Nirmala Sitharaman at a vegetable market in Mylapore today is only one aspect of the contact day to day with ordinary Indians and their problems that marks the Mann Ki Baat radio program of Modi and of Sitharaman herself as she tackles the work of the finance ministry with the last person in the line uppermost in mind.

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A key part of Modi's address was about meeting the needs of 1.4 billion people in a way that was never met before for hundreds of years. Providing health coverage to something like the whole population of South America. Putting money directly in the bank accounts of something like the whole population of North America. How do you govern a country with 2500 parties and 22 parties governing in different states of the Union? How do you deal with a country with 13 major languages? The challenges are unprecedented and even more to ensure proper delivery of services to the entire population, that has never happened before. It truly is an astounding democracy and has been for 75 years- the only way to know is to go travel throughout India.

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The median income in the US in 2024 is where it was in 2019 before the pandemic at about $83,000 with the upper 10% of the population making about $200,000 having a 5% increase. Median income means 50% of the US population makes above $83,000 and 50% below that. In 2024 compared to 2023 slight increase of about 4% for men compared to women, no change for white households, a drop of 3% for Black households, gains of 5% for Hispanic and Asian households, Census Bureau Report shows.

Overall cost of living prices at grocery stores, for automobiles, and housing rental, is what is impacting people the most and has left people in the lower half of the population with considerable anxieties about making ends meet. At $100,000-$150,000 incomes in the upper third of the population there is saving for colleges that have costs going through the roof and cost of child care that is causing anxiety.

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Germany's export oriented economy and its export oriented companies are struggling in 2021 with broken supply chains and high energy prices. This report in the WSJ looks at how Germany needs to rebuild its economy in a different way. German industrial output was 9% below its 2015 level in August, compared to 2% for the eurozone as a whole, according to EU's statistics agency. Italy's growth was 5% over the same period. There is a redirection underway to bring more production back home after years of outsourcing and outshoring. Other changes taking place are the policies being put in place for net zero emissions by 2050, and the targets for 2030 that would make this possible. This also changes prospects for Germany's large auto industry. By 2030 30-50% of all cars will have to be electric cars. About 30% of Germany's industrial output and exports are tied to overseas demand, 4 times that in the US. From 2003 when competitive overhauls took place under chancellors including Mr. Schroeder, German industrial growth was sustained by demand from China. Now with China looking to internal demand following global tensions on trade, sales of some companies are looking flat instead of sustained year over year growth. What will happen now? Here is what the likely new chancellor from the Social Democrats has to say about the overhaul of the German economy and industry- "It will be the biggest industrial modernization project that Germany has carried out probably for over 100 years, and it will really help our economy." The SDP and Greens that together share the same ideas for rebuilding Germany around infrastructure and climate change and upward mobility, badly neglected in the Merkel years, plan big investments. Big investments are to be made in climate protection, high speed internet, education, research and infrastructure. Germany's net investment rate has been around 0.5% of economic output since 2000, compared to 1% for Italy and 1.5% for the US, according to the World Bank. This WSJ report even says net public investment has fallen below zero as existing assets depreciate. To achieve this transition Germany has identified several problems. One is the delays in investment projects that cost German companies 55 billion euros a year, about half the money invested in research and development, according to Germany's statistics agency. Germany was thought to be an industrial powerhouse but the quality of work in projects and delays so apparent in the Berlin Brandenburg airport infrastructure project clearly shows a decline over the past two decades. This will need to be fixed. Other problems are in getting more workers as Germany faces a shortage of workers for factories to 2030.     ...

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The Congress party leads with 100 seats in Rajasthan and 114 seats in Madhya Pradesh in the State Assembly elections.

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India registers an amazing comeback feat of 75% vaccinated with two doses on January 30, 2022, without the resistance to vaccination seen in US and Europe. For over a billion people this is nothing short of extraordinary. India's experience is similar to that in other parts of Asia and Latin America where people trust health authorites, after years of dealing with many diseases requiring vaccination in the last 50 years.

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Effects of the pandemic on U.S. and global business, the U.S. and global economy from the WSJ.

Imagine 700 of 763 aircraft, most of Lufthansa's planes parked. Lufthansa is in pause mode, having reduced its capacity by 94%. Most passenger airlines have become cargo airlines.

New car registrations in France have fallen 72%. Nissan Renault is not selling anything, and there are no revenues say company representatives.

100,000 sailors on cargo ships are at sea with no hope for landing as shipping comes to a standstill.

Workers on New York's power grid spend the night on trailers in parking lots and in confined spaces with no more than 6 persons on a team. If one got sick he could infect others, and cause a personnel shortage.

 

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Declan Walsh in another exceptional piece on the ground at customs offices in Torkham, Afghanistan, near the Khyber Pass bordering Pakistan in the southeast. He describes a network of corrupt officials that extends from border customs offices all the way to the central government in Kabul. It is so widespread that one minor customs official at the border paid $10,000 for a customs position where the salary is $150 a month, but money gained through unofficial payments and bribes is $4000 a month. At every step from the guard opening the gate for a truck to the border customs official, to the provincial department officials, to officials in the capital Kabul, there are payments involved for every truck entering Afghanistan. Upto two thirds of customs revenue is lost, and the $500 million of customs revenues collected amounts to 26% of the governments tax revenues.

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India needs more dams to collect, store and channel water to where it is needed. The rainy season is becoming shorter, with alot of the rain as much as 50% falling in about 15 days. This means some areas are flood prone and the water if not collected in dams would be lost. THe other problem is that a lot of water is wasted without proper maintenance of the existing dams and storage areas. Much of the state governments investment in this is ineffective so water is lost for lack of maintenance. The state irrigation departments are underfunded, overmanned and corrupt and are not upto the task of maintaining the existing irrigation systems. This presents ahuge problem because India is estimated to lose the equivalent of two thirds of the new storage it builds to siltation. Between 1992-2004 India built 200 medium size irrigation projects but the area irrigated by these projects actually shrank by 3.2 million hectares. New dams are not coming on fast enough and India has 200 cubic metres of water per person, compared with 1000 cubic metres in China. Groundwater -with the governments providing free electricity to farmers for pumps- is used widely but this is becoming unsustainable. The WOrld Bank estimates that 15% of India's food production comes from "mining" which is the use of unrenewable groundwater supplies. Many of these wells are drying out. Also free electricity is causing electricity boards to have insufficient funds for expanding supply causing chronic shortages. One quarter of India's electricity is given free or cut rate to farmers. And politicians trying to reform this system are often booted out of office. All this as 400 million Indians have no electricity. The answer is not merely to raise prices in places like Haryana state- where according to aWorld Bank study farmers with electricity spend 25% of their incomes for it and to repair engine pumps- but also for the utilities to improve supply. Farmers also need to learn to use water more efficiently. ...