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Support in Germany for a global corporate minimum tax rate, which stops the race to the bottom in tax rates that starves essential infrastructure of financing. US president Biden made this a part of his effort for $2 trillion in spending to renovate decaying American infrastructure. Infrastructure that has deteriorated and suffered over four decades.

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As president Biden says a Russian attack on Ukraine could come at any moment and asks Americans to evacuate immediately, the Russians say that there is no such thing happening. The why the troops massed on the Ukraine border? Russia says normal military exercises, which is not so persuasive to Europe and America.

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David Brooks on the contrast of old stye politics with flamboyant displays of emotion of Joe Biden and the more restrained expressions in today's world with policy focussed candidates such as Paul Ryan. This was on ample display in the 2012 U.S. vice presidential debate. Brooks says independent voters may be turned off by a confrontational attitude, especially now that bipartisanship will be important to navigate through the challenges presented by debt and the deficits. These independent voters will also be looking for a credible plan to turn the economy around in the next four years.

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The broken world economy has hurt the American people, in small communities and towns across the US whose societal fabric was destroyed by a system of world trade with abuses done by China. Japan, European Union, Canada and Mexico since 2000. Shortsighted American leaders and economists allowed this to happen. Robert Lighthizer on the New World Order a new system of world trade that replaces the old in 2026. The old trading system was one in which lip service was made to free trade while all the time the system was used by Japan, Germany, China, Canada, Mexico and other nations to build non tariff barriers and other policies to support their industry  at the expense of the United States leading to disillusionment in the US. The facts are mind boggling- the loss of 5 million jobs, many small communities across the US decimated with loss of jobs. About 20 trillion in wealth transfers to China and other countries over 2000-2020, with foreigners owning $27 trillion more of US assets than the US owns of theirs. US Trade Deficits that went up by 40% in 4 years of the Biden administration from $800 billion to $1.2 trillion. Economists and weak leaders got it all wrong allowing this to happen from Geoge W. Bush to Clinton Bush and Obama. Lighthizer says "shortsighted leaders aided and abetted this process," from 1990 to early 2010. Consider that US had 17.3 million  people in manufacturing, in factories all over the US in 1970, in 1999 we had the same number of jobs, even though there were changes in technology and productivity- the US held its own with the rest of the world. The Bush, Obama years were the worst for the US industry - by 2026 we have 12.6 million - loss of 4.7 million jobs since 1999. And real median household income took a big hit growing from $72,000 to $84,000 about 17% in the last 25 years, compared to twice that in the period 1975-2000 prior quarter century. The result is the fracturing of American society- and dire consequences for healthcare as communities suffered from loss of jobs leading to drug overdoses, alcohol abuse and suicides, which are common in post industrial American communities. Think of this fact: two thirds of America's workforce that does not have a college degree, that is working class people, lives 8 fewer years than college graduates, a gap that was only 2.5  years in 1992. The wars carried on by Bush and continued by Obama in the Middle East also wracked these same communities till Biden and DJT pulled out. One has only to drive across America to see this with one's own eyes. Trade may be an abstract topic for economists and politicians- there is nothing abstract about this. And the economic growth of the US has suffered with the unfair trading system with China, European Union, Japan, Canada and Mexico. From 1945 to 2000 American growth was 3.2% a year. Since 2000 only 2 years of growth over 3%. US has not seen historically normal growth for the last 19 years and at this rate (if we continued along this path) the Congressional Budget Office says 1.8% growth for 2027-2035. There are other factors yet the the major driver of this is our trade deficit of $1.2 trillion dollars a year. It is a story of remarkable persistence in the Nation's interest through 2 adminstrations- this Lighthizer story. Lighthizer fought Japanese commercial interests as Deputy Trade Representative under Ronald Reagan, and as US Trade Representative under DJT in the first DJT administration in 2016-2020. His Deputy at the time is Jamieson Greer who is now the US Trade Representative in the second DJT adminstration in 2025. For 30 years this brave American patriot has fought to reverse the bad actions of presidents and economists that have led to devastating losses in the American countryside. He says any new trading system must be perceived as fair to working people. It will survive only if working people think it is good for them. It cannot and must entrench a small, permanent elite. The benefits going to labour must be at least as great as those going to capital. It should create fulfilling high paying jobs for the vast majority of the American people. This is America's new promise to its people, its new compact with its people. ...

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The WSJ editorial had this to say about Congressman Barney Frank who spent 7 years on the board of Signature Bank after working on regulatory reform for the Obama administration following the 2008 financial crisis. The two roles contradicted each other, regulation of banks and being on the board of a bank which lobbied for loosening regulation and worked with crypto asset companies. The Biden administration rolled up the Signature Bank following the collapse of Silicon Valley Bank. 

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With Japanese PM Shigeru Ishiba present DJT announces investment by New Nippon Steel in US Steel at a White House press conference.

Both the Biden administration and the new DJT administration opposed the $14.1 billion takeover of US Steel by New Nippon Steel of Japan. 

DJT says- "They’re doing it as an investment, no longer a purchase. I didn’t want it purchased, but investment I love."

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DJT appeared on Oz's health show in 2016 as a presidential candidate, and sees OZ as a fellow tv show host, a kindred spirit with a passion for what he is doing. As head of Medicare and Medicaid after afailed effort for a Senate seat from Pennsylvania, Oz is still someone whit a keen sense for the politics as well as what is good for the healthcare of Americans. He shares apassion for good health as a goal for America that was held up by JFK, and his nephew Robert Kennedy Jr who now leads the Make America Health Again movement. Oz fervently believes the time for healthy America is now after many wasted years under Clinton/Bush/Obama when national interests were neglected for places like Bosnia in a historical conflict of Turks and Serbia that goes back centuries (Clinton), in the deserts of Iraq (older Bush), in the mountains of Afghanistan that claimed Brezhnev as a victim the younger Bush followed, two wars prolonged by Obama and closed by DJT and Biden. Something as basic as health and pharmaceutical prices was allowed to get as bad as it is in 2026 with prices through the roof. DJT's plan is to get the pharmaceutical companies to commit to certain prices, to the lowest price they sell the same medicine in Europe. This is what Dr Oz wants to see not just for the next 3 years but put into established practice for the future years.  Oz says about presenting the DJT plan on healthcare to Congress and the Nation- “We didn’t demand that they do it. We said, ‘This is something that is very popular and highly achievable.’ ” Healthcare costs, gas and automobile costs, energy costs, housing costs are all part of the 4-5 costs that are the key elements in the cost of living crisis or affordability crisis that is uppermost on the minds of Americans. Already the Medicare payments to insurers are going to be flat for 2026 compared to 2025, as part of policy to get costs down, push pharmaceutical costs down. ...

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US policy is to end war as soon as nuclear threat is over- DJT on Iran war on March 31 2026. When the US feels Iran 'won't be able to come up with a nuclear weapon, then we'll leave,' says DJT. US is self sufficient and exports oil to Europe. It doesn't need Iranian oil. DJT makes that clear to allies in Europe who have not taken a stand in the war and limited access to their airbases, saying as Starmer did yesterday that Britain did not want to expand the war. Really, the US does not want to expand the war. DJT's MAGA base does not want this war, and Biden's base does not want this war. US does not need Straits of Hormuz- it is Britain, Italy and EU countries, mainly China, Japan, South Korea that need the Straits of Hormuz. Speaking for the US DJT tells these countries in Europe to get the oil themselves in the Straits. He also tells China to get the oil from the Straits- if they need it and are so complacent as to get 90% of their imports from Hormuz after 40 years of disruptions and wars, as China does. DJT said- "If France or some other country wants to get oil or gas, they'll go up through the Hormuz Strait, they'll go right up there, and they'll be able to fend for themselves. What happens with the strait we're not going to have anything to do with, because these countries, China, China will go up and they'll fuel up their beautiful ships... and they'll take care of themselves. There's no reason for us to do it." "The USA won't be there to help you anymore, just like you weren't there for us. Iran has been, essentially, decimated. The hard part is done. Go get your own oil!" ...

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Under the Biden vaccine mandate federal government employees and employees of contractors face termination, suspension or warnings, if they do not get vaccinated in 75 days. There is no option for them to take testing. For employers in the private sector there is a weekly testing option if needed and requirement that employees get vaccinated in 75 days.

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Over the next 20 years China will need 6500 737 Max single aisle planes and 1500 Dreamliners, Boeing says. China will make up 20% of world demand. The US visit of Xi Jinping and the major efforts for good relations of president Biden through vigorous diplomacy by Blinken, Yellen and others gives Boeing an opportunity to meet this demand.

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US to take stakes in American companies to help them achieve goals of Make in America with Intel stake the first action. The $8.9 billion Biden intended for Intel to make chips in the US will be handed over to Intel but for a stake in the company of 10%. For years Taiwan, South Korea, Japan and China have subsidized their companies in different and some hidden ways. Many times these companies have sustained losses as they built for the long term in volatile market situations. Nvidia now a trillion dollar company was at one time a company struggling to survive saved only by a Japanese corporate investor as shown in a recent WSJ report. The US has taken no such action losing its dominant position in many advanced industries including chips till the Biden and DJT administrations. Yet the media keeps voicing the old ideas of market capitalism as if there is such a thing when state capitalism operates with market capitalism in the Chinese model, and a form of semi state capitalism operates with market capitalism in Taiwan, South Korea and Japan with hidden subsidies by the state to build dominant positions in certain industrial sectors. Even US companies are willing to take such subsidies as when Elon Musk builds car plants in China with state assistance and support, which never comes up in the media even when the Chinese EV makers are learning from the Americans and Tesla is losing market share in China. Theory is for the textbooks and economists,  in business all forms of capitalism work including a mix of state and market, and America has to invent its way back to lead the way in advanced industries.  ...

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Kamala Harris finds herself in a conundrum with the spirited address given by president Biden in the State of the Union and her cautious approach to not do anything to overshadow the president or disappoint the president, says this report in the NYT. Her analytical approach as a prosecutor in California also comes in the way of talking in plain terms to the people. Advisers suggest she talk in an informal colloquial tone to connect with younger people. 

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The border with Mexico and the surge in immigration over the last two decades is an issue that has been tackled in largely the same manner by administrations of both Republicans and Democrats. It had one intent- to discourage illegal immigration and migrants flow across the border. Intentions have been well meaning for the Biden administration yet the goal is the same- discourage and send a signal to migrants so that there is no surge in migrants. A problem that is not easily resolved.

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The Biden administration is proposing strict rules for the $7500 tax credit on new EV vehicles. Rules going into effect April 18 will restrict the credit only to certain models yet to be announced that fulfill strict criteria on sourcing of minerals in the US or friendly countries. The idea is to bring the supply chain for minerals critical for EV batteries back to the US and its partners, and shift it away from China that today controls that supply chain.

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Micron Technology, GlobalFoundaries, Intel, Samsung are planning large investments with the assistance of governments in US, and Japan. Taiwan Semiconductor plans to build a chip plant in Japan. US has allocated $52 billion for domestic investments by chip companies. In recent decades bad policy has led to chip making demise in the US which the Biden administration is determined to reverse by boosting US chip production. Intel Corp has announced large investments in US and Europe, Micron is expected to follow in this direction.

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Issues of war an peace, food supplies, climate change and renewable energy transition, world health, and other issues that relate to the wellbeing of people in the world can only be met by broadening the membership of the UN Security Council. US president Biden favors broadening the membership of the UN Security Council. Ministers of the G4 countries, Germany, India, Japan and Brazil met this week to push for reform of a UN Security Council that is now not working or dysfunctional. 

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The US and the EU, China, poor developing countries are following diverging paths. The US in investing heavily in its infrastructure rebuilding under president Biden and its economy is growing, unemployment declining compared to Germany and China where the economy is slowing and facing hurdles. Poor and middle income developing countries in Africa and Asia, Latin America face the hurdles from high interest rates and rising debt burdens. India is also increasing growth by building  infrastructure and manufacturing capabilities.

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President Biden reassured yet also cautioned Israel by saying that in the rage over the Hamas attacks Israel should "not be consumed by it."  And make mistakes that the US made after the 9/11 attacks of going too far, losing world sympathy and entangled in decades of conflict in Iraq and Afghanistan. He also stated that US information showed that Israel had not bombed a Gaza hospital, that the damage came from rocket attacks within Gaza.

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About 80% of Swiss voters supported the 15% corporate minimum tax that will bring an additional 2.8 billion dollars in tax revenue. If the Swiss had not backed it, the additional revenue from lower Swiss taxes of about 11% and the 15% would have gone to other countries. The Biden administration and many EU countries have considered this one of the most important achievements for fairness, and to support much needed state spending in their countries to maintain the quality of life.

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Contrast today's prisoner exchange with Russia and elation at the WSJ News Desk with this title from a senior NYT reporter Steven Erlanger, and one sees how difficult the Middle East is, still is, after decades of war in Iraq-Iran with Reagan/Rumsfeld taking sides and beginning three decades of wars. Wars that went through several administrations to be finally ended in Afghanistan by president Biden saving vital resources for the Nation and the Free World.

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Another one of president Biden's projects to cut climate change emissions is on the Mississippi River. $2.5 billion from the Infrastructure Law is being used to support improving navigation on the Mississippi River so that grain and other goods from the Nation's breadbasket including Republican states along the river, Minnesota, Wisconsin, Illinois, Iowa, Missouri, Kentucky, Tennessee, can be transported with a 85% cut in emissions. Use of river navigation transport cuts emissions to one sixth compared to trucks on highways.