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Officials of the federal government in New Delhi say Washington DC, Berlin, Ottawa, Canberra are national capitals like New Delhi with special needs unique to the capital city in each situation. These needs require the administration of the national capital to be under the federal government. This is so in each city for this reason. What are these needs? They are prioritizing the national interest, better coordination, comprehensive planning and decision making taking into account the diverse needs and interests of the people of the capital. It is for this reason that the federal government has set up an administrative authority for this purpose. As in other foreign capitals the federal government has a broader perspective on governance and policy making considering the needs of the entire country not just of an individual state or state which can be narrow and limited in scope. And it is for this reason that capitals around the world have made this their model for administering the national capital. ...

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Rebuilding in Ukraine is focused on destroyed bridges and infrastructure as Russia continues to destroy apartment blocks, and targets the electricity grid.  Many of the apartment blocks destroyed outside Kviv in Irpin in this story are hard to rebuild because of the constant attacks most recently with hypersonic missiles that are hard to detect. A couple fled from Donetsk, settled in Irpin in a new apartment only to have to flee again after a Russian missile attack left their apartment building in ruins. How do you build in the midst of a war is the question Ukrainians ask themselves every day. About 150,000 apartment buildings and half the electricity grid is destroyed, so also 1500 schools and 20,000 kilometres of roads. It would cost $350 billion to repair. It would require policy decisions on what quality of building materials and how many to apartment buildings to build and how quickly.

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This WSJ editorial cites French president Macron on the provisions in the Biden Inflation Reduction Act that favor Make in the USA and how it affects foreign automobile manufacturers. WSJ also says the actions taken by Japanese, Chinese, Canadian and German governments favor their domestic industries. For decades Make in the USA was neglected hurting American workers, American communities, and creating serious even dangerous (for democracy) social gaps in society. The Biden administration is following a Make in the USA policy that is now being followed by the EU and Germany of bringing supply chains closer or back to home ground after the pandemic showed the serious shortcomings of shipping American or European manufacturing overseas. After the hollowing out of Detroit over two decades Detroit now gets a chance to come back with the rebuilding of the car industry in the renewables age.

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The thinktank Onward says a relatively small shift rightward on cultural issues would deliver for the Labour party a 1997 type of landslide at the next election. Today's 12 point lead for Labour is fragile and could be watered down to 4 points and an uncertain result. It says that people who are conservative on social issues and still favor Labour on economic and climate policy are the ones Labour should go for. They make up 61% of all voters in Britain and 78% of voters who would switch. Keir Starmer has a way through.

On sees this in Starmer's enthusiasm for his visit to Westminster Abbey for the coronation of Charles as monarch of Britain. The positions he takes on many cultural issues have this in mind bringing Labor into the mainstream and making it a bold innovator for Britain, taking pride in the nation's scientific and maritime achievements from the Industrial Revolution.

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China's military drills around Taiwan have an unintended effect of creating a shift in American and European sentiment on the overconcentration of US and EU investment in China. Business in Germany and in the US has operated for a long time in the Merkel and Bush-Obama-Trump administrations a if this overconcentration which hurt workers and communities in both the EU and the US did not matter as long as the interests of the individual companies was met. Mr. Biden's policy takes an entirely different approach to protect American workers, rebuild American manufacturing, rebuild infrastructure, and to build America's leadership in the world. The military drills only increase the awareness in America of the risks and dangers of the positions taken by previous administrations. Shifting sentiment to back president Biden's strong steps to rebuild America and American leadership.

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With the gradual decline in the second wave of the coronavirus in India, Finance Minister Nirmala Sitharaman highlighted some of the progress and the plan ahead -to achieve macroeconomic stability in the face of coronavirus spending and needs, the progress in GST for formalizing the economy and getting tax compliance, the infrastructure investment and forward looking timely completion of projects, increasing foreign direct investment flows into the economy, and making India an important part of the renewal of supply chains of America and Europe. The highest ever GST, Goods and Services Tax collection, helps build the framework for revenue to support investment in new infrastructure. Ease of doing business in India was a key goal to increase new inflows of foreign investment. Coordination of domestic and foreign trade and investment policy was part of the effort to build the environment for partnering with US and European Union countries, and UK, so that implementation in supply chain renewal could take place. ...

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Cheap abundant coal supplies support the Australian lifestyle and standard of living. Australia is a big exporter of coal. Here prime minister Morrison is shown with coal in his hand in parliament lauding its benefits to the Australian economy as a source of its wealth. Only now with floods, drought and fires is the real cost of coal becoming apparent to Australians. In elections in 2021 Mr. Albanese of Labour party replaced Mr. Morrison and promised changes. Mining interests and jobs influence key swing constituencies in elections leading to the impasse on climate change action. As one of the windiest and sunniest places in the planet Australia says the OECD is in a position to play a large role in renewable energy. This suggests that policy so far has been shortsighted. Worse it may have fueled the rise of temperature on the planet by providing cheap coal for China to grow at rates close to 12% for decades.

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UK prime minister Sunak makes changes to policies of the UK post-Brexit that bring the UK closer to France and the European Union. This follows a deterioration of Britain's relations with the EU and France under Boris Johnson during the years Brexit happened. Sunak also comes up with a different policy for Northern Ireland closer to the EU's position. Mark Landler has covered Britain and the EU for NYT over three decades. He calls Boris Johnson's approach bombastic and one that made loud claims for "Global Britain" with little to show in results.

Sunak's challenges are in Britain with strikes across transportation, health sector and NHS, and the cost of living crisis. Labour party is seen as having better solutions and as more caring in its policies for both the environment, workers and families in 2023.

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Should inflation be set at 2% or 3-4%? This decision affects jobs and zero interest rates hurt what retirees earn on savings.  Krugman says Americans were better off during the period under presidents including Kennedy-LBJ, Reagan right up to 2008 when interest rates were between 5-8%, and inflation of 4% was considered to be acceptable. Consider that about 90% of American retirees have savings of less than $100,000, and 50% have no savings at all after two decades of near zero interest rates. Krugman points out that Fed 2% inflation targeting is a mistake because the research is wrong and inflation of 2% gets you to near zero interest rates a third of the time, not 5% of the time as US Fed research incorrectly shows. Financial crises such as 2009 from lack of regulation of financial institutions and laissez faire policy led to zero interest rates that hurt average Americans.

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Trump at 77 has serious issues of age for the US presidency says Frank Bruni, professor of journalism and public policy at Duke University. Age is a very personal journey, says one expert, and it depends on how good you are taking care of yourself. On this score Trump has serious drawbacks. Nutrition matters, exercise matters. Bruni says Trump's diet is garbage, and he is overweight. Biden is only 3 years older than Trump, and he is known for healthy eating habits and regular exercise. This is a serious difference that the press has paid little attention to. Another factor in aging is doing something for a purpose in life that extends beyond one's self. Trump's obsessive attention to himself means there is a lack of purpose beyond one's own egoistic pursuit of office which acts as a negative factor in aging.

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The European central bank increases interest rates by quarter percentage point taking the deposit rate to 3.5%. The US Fed held off on increases. The US Fed started early with its increase in interest rates and maintained a steady posture with 8 interest rate increases over 2022-2023 in a period of just over 12 months. It has strengthened the dollar against the euro. The slow response of the ECB and price gouging in Europe has worsened the inflation picture there. The US Fed's policy combined with consumers resisting price gouging by halting purchases from stores, untangling of supply chains, the Biden administration's series of actions to tackle the cost of living increases, and overall investment in the economy that keeps employment resilient including government investment for the first time, is creating a better economy for America than most of the last two decades. 

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Hillary Clinton attacks Trump's policies in an address in Warren, Michigan, saying this was another version of failed trickle down economics. She called Trump's idea of taxing pass through entities such as small business reporting business income on individual tax returns at 15%, as a "Trump loophole." On trade policy Hillary Clinton said she would oppose the TPP or Trans- Pacific Partnership Trade Agreement that president Obama has supported. She put it flatly- " I oppose it now. I'll oppose it after the election, and I'll oppose it as president." And pointed out that too many companies have moved jobs overseas and "moved operations overseas and sold back into the U.S." after pushing for trade deals. The answer she said 'is not to rant and rave- or to cut us off from the world," in reference to protectionist policies Trump has supported. 

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This month president Biden signed into law 100% tariff on China made EV's and 50% tariff on solar panels. The Guardian describes the hollowing out of factory towns in England such as Sheffield and the same in the US and Europe, which was a disaster for these communities dependent on manufacturing. There is now a sense that heavily subsidized products made in Asia should not be allowed to deindustrialize the US and take jobs away from these communities across the US. Trade has to be fair before it can be called free trade. Wars in Asia,  trade that ripped up American manufacturing, monopolies and burdensome pricing of pharmaceuticals and healthcare, lack of investment in infrastructure and public services, shows the deeply flawed policy pursued by presidents from Reagan and Bush to Clinton and Obama that have reduced the standard of living of the American worker and the American people.

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The goal is to invest in Britain. Tax policy is calibrated to generate 25 billion pounds from the National Employment Insurance Tax.

Reeves says she is not increasing income tax, employees’ national insurance and VAT. National Employment Insurance Tax paid by companies will go up by 1.2 percentage points, to 15%, from April next year. Threshold will come down from £9,100 per year to £5,000.

Crackdown on welfare fraud saves 4.3 billion pounds. A new Covid Corruption Commissioner for dodgy Covid contracts

6.7% increase in the minimum wage

State pensions will go up by 470 pounds.

Carers allowance to go up to 10,000 pounds a year.

5000 extra tax officers to close the tax gap, update IT, update App.

 

 

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Senator John Thune of South Dakota who had the support of Senators Daines and Mullin, and of retiring Republican Minority Leader won in a 3 way race against John Cornyn of Texas and Rick Scott of Florida. Scott of Florida had support of the MAGA allies of DJT. His liability was the way he had run the party as head of the Congressional campaign of 2022 with poor results. DJT stayed aloof from the race only saying he expected the Senate leader to defer to his policy for Ukraine.

Thune won 29 votes to 24 for Cornyn. His way of running the senate will be more open than Mitch McConnell's, getting more feedback from Senators, and more open to amendments. Priorities are securing the border and reauthorizing the tax cuts.

Thune seems a good choice so that the president gets to hear views of all members in the Senate and is well informed to make decisions.

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As growth slows in Germany, with contraction in the second quarter followed by expected growth of annualized 1% in the remainder of the year, debate is growting for tax cuts and ways to promote business investment. DIW, a think tank in Berlin, says the government's goal of a balanced budget may be unsustainable in the current economic climate. Deep spending cuts in Spain and Italy have not been supported by increased spending in Germany, say critics, leading to a too tight fiscal policy for the weak state Europe is in. ECB president Draghi is also pointing out the the need for changes, by saying- "It may be useful to have a discussion on the overall fiscal stance of the euro area with the view to raising public investment where there is fiscal space to do so."

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A waning boom and lower growth rates in Brazil, and improving economic prospects for Mexico- diverging emerging markets and policy mix in 2013.

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U.S. Middle East policy in 2015 becomes one of weighing different options without taking sides as the Middle East descends into a messy sectarian conflict between Shiite Iran and its proxy allies with Sunni Arab states, with the remaining currrents of the Arab Spring remaining as background. If someone had asked the question what the world would look like without the U.S. exercizing its leadership role, this provides an answer in one part of the world after years of inaction and skepticism about the U.S. role in the Obama administration.

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William Galston points out in this piece in the WSJ that U.S. president Obama's Syria-Iraq policy has lost credibility with the American public. He cites CNN/ORC polls showing rising concern among Americans about terrorism even 1 year before the San Bernardino attacks, at 55% saying that this was likely increasing to 61% in the week before San Bernardino attack, with fears about terrorists being in the U.S. increasing to 81%. As a result only 38% of the American public in a CNN/ORC poll at the beginning of December 2015 approved of president Obama's handling of terrorism, with 68% saying that the U.S. military response is insufficient. A major shift has also taken place on the use of ground troops with Americans favoring use of ground troops by 53% to 45% in the current situation. Here Galston points out the shortcomings of Obama's military response in not conducting an effective use of the military response from the air in setting up safe zones and coordinating efforts with the Kurds and other forces....

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China's rapidly aging population is leading to a new problem of rapidly increasing rural suicides. With urbanization about half of the people over 60 have no adult children living with them and 10% live alone. With meagre savings there are more suicides in isolated communities. 

Over two decades the number of people over 65 has risen from 7% of the population to 12%. The one-child policy is only partly to blame. A rapid drop in births as seen in Latin America was also taking place in China with urbanization and modernization.

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The election of her close ally Kramp-Karrenbauer to head of the CDU party, protects Merkel's position as Chancellor till her retirement in 2020. Karrrenbauer is to the right of Merkel on social issues and to the left on economic matters. She is likely to take a different view on the migration policy that has let the CDU ratings drop and produced poor election results. The move stabilizes the CDU led government. Karrenbauer will try to rebuild relations with the party's conservative wing through her conservative views on social issues.

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Prof. Sonalde Desai questions the lack of fresh thinking on addressing inequalities in India by sticking to reservations policy initiated in 1950 before modernization of the economy. In today's economy education is a critical component for upward mobility and the ability to read at higher level is critical. In India the forward castes do better in class 1 reading for 8-11 year olds with about 70% passing, for scheduled castes this drops to below 50%. Prof. Desai argues that addressing problems at the elementary school level is needed to create a level field for opportunities throughout society.

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This editorial in the New York Times favors President Obama's policy with Iran outlined during the visit of Israeli prime minister Netanyahu to Washington.

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Martin Feldstein says China is gaining control of three problems it faces of shrinking export markets, the effects from a large stimulus in response to the 2008 financial crisis, and inflation especially high real estate prices. The economy is shifting to higher role for services and less dependence on exports under the new five year plan. The real estate prices are levelling off after steep increases. And inflation is under control. New investment will go into infrastucture needs such as power development and low income housing. As the economic problems are being tackled, the political problems remain. China faces an aging population under its one child policy, and it will have to support an increasing number of retired people in the future. Inequality and corruption are two problems that continue to grow and present challenges to the new leadership taking over in 2013.

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The night of January 29, 2011, in Alexandria Egypt, as the Egyptian people of all classes of society, ordinary citizens, overcome massive police presence and tear gas. The writer directs the global emergencies program at Human Rights Watch. He saw firsthand the attacks by security forces of the Mubarak regime on unarmed protestors calling for Mubarak to step down after 30 years of autocratic rule, and the restoration of basic freedoms.