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The present grid was conceived 100 years ago so it cannot accomodate the transmission demands of wind energy turbines. First the location of these wind farms is in places like upstate New York or in places in the prairies like Kansas and possibly in places like Wyoming where the wind blows relentlessly and the major population areas are farther away, the transmission capacity of lines in these sparsely populated areas is small and so getting the wind energy out to where its needed is a problem. Building bigger transmission lines runs into getting support from different states and property owners as the states have jurisdiction and not the federal government over transmission lines and this requires a lot of people giving approvals thus holding up a rapid improvement except in Texas where Pickens is trying to get energy from the western parts to the Dallas area and has the full support of the state apparatus.

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The global financial crisis is expected to reshape the direction of globalization. Western finance will be re-regulated. Second as concerns about food security take prominence in countries like India and China inflation and how it affects food prices will result in governments taking an active role in this area. Thirs America will lose economic clout and intellectual authority. Emerging economies like Inida, China, Brazil and Russia and other countries are having a large influence on the direction of global trade now this will also extend to global finance. But even after the re-regulation of finance in western countries and changes also in emerging countries that are seen as necessary in the light of the global crisis, the global economy will still find the model of markets if carefully done and respect for individual initiative with a proper role of government but limited role, he attractive model to follow. Easterly comments on this for developing countries. See the link.

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A civic group plans to continue showing a woman's statue representing 'comfort women' in front of the Japanese embassy in Seoul. South Korean media is critical about the lack of merit in generating goodwill of the agreement between prime minister Abe and prime minister Lee on 'comfort women.' Some South Koreans see an uncomfortable association between history showing Ms. Lee's father being an officer in the Japanese Imperial Army, and the agreement that does not do much to put the issue behind by offering $8.3 million. Japanese prime minister Abe considers the 1965 agreement normalizing relations between the 2 countries with no reparations as final, with no exceptions for the situation where many South Korean women were used by the Japanese Imperial Army. An exception might open up claims from other survivors of the war in other situations, Japan fears. Japan offered $8.3 million as an humanitarian gesture for the surviving 46 comfort women, which is seen as insulting for the women in the South Korean media. The women say they were never consulted. ...

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Does a 10% reduction in tariffs on China with the October 30 2025 agreement- made in Busan South Korea at APEC meetings- make a difference for companies relocating from China? It only does for smaller companies who are stuck with Chinese sources. Larger American companies prefer to diversify their supply chain and continue to relocate part of their factories to Vietnam, India and other countries knowing that the tariffs game will end up with allies EU, Japan and India in the 10-15% tariff range as a concession to US for putting up with trade disadvantages and job losses 2000-2025. China's will still be at 47% in comparison and the fentanyl issue causing serious questions to be asked by the American people which have not been grasped in China or even in the US by companies and politicians.   Does it affect the urgency and general shift out of China? The fentanyl issue is unlikely to change and it is likely to do lasting damage to China's credibility to a degree that it not clearly understood in China, and even not fully grasped even in the US today because of the sheer size of the number dead- more young Americans dead from fentanyl than in the Korean, Vietnam and First World Wars combined. Other issues are technology that has been transferred without a proper assessment of the importance to national security, the need to shift the manufacturing base back home that US industries have inadvertently and carelessly shifted to China in the disastrous Bush and Obama years 2000-2016, and for the jobs, the wages, and cost of living concerns when supply chains are outside one's control. This article asks the question about tariffs on India and Brazil as being contradictory and showing a lack of consistency in tariffs. India is compared to China with India facing a 50% tariff because of Russian oil purchases, and Brazil a 100% tariff related to treatment of former president Bolsonaro even though US has a trade surplus with Brazil. One expects that at some point India and the US will come to an agreement that lowers the tariffs in a way that was done with the European Union to bring it closer to 10%. China's tariff to be sure is still around 47% dropping from 57% a concession for rare earths and for the upcoming elections and economic concerns not because of policy intent which has not changed on  strong action for fentanyl which is also part of the Appeal to the People in the DJT base.   ...

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Airline maintenance business is growing and Delta hopes to get more for it. steps its taking in this area.

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Bernie Sanders presents the case for Medicare for All, healthcare for all legislation in the U.S. Congress introduced in September 2017. It has the support of 15 Senators. He says the current system is costly, wasteful and bureaucratic. It is time says Sanders for the U.S. to join the rest of the industrialized world, join Britain, France, Germany and other countries of Europe, Japan and Australia, Canada, with healthcare for all Americans. After all he says only 50 miles north of his electoral district in the Burlington, Vermont area is Canada, where the system of healthcare for all works better than in the U.S.  And the Canadians, Germans, French, and British do this spending less than half the U.S. does. In 2015 the U.S. spent $10,000 per person for healthcare, this means that it cost less than $5000 per person in these advanced countries and the way they do it can be studied and its best aspects adopted by the U.S.  He says this is because the U.S. healthcare system is designed to maintain profits for the medical-industrial complex. A major problem is the manner in which the issue is distorted by different sides on the issue of health care in the U.S., without a consensus being developed on what the common interest is in a civilized society. Mostly because the U.S. unlike other societies is still grappling with the issue of what values it embraces on healthcare being made available to all. Under this legislation the transition to healthcare for all would take place over 4 years. In the first year eligibility for Medicare would start at age 55 years, and children under 18 would be covered. In the second year the eligibility starts at 45 years, in the third year at 35 years, in the fourth all are covered.  ...

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President Macron of France puts forward the basic building blocks for an agreement to reduce tensions with Iran. In a speech to the General Assembly of the United Nations he says that there should be negotiations between Iran, its regional neighbors, the U.S. , European countries and China. The Obama period nuclear deal of 2015 failed because of a lack of a comprehensive settlement and including Iran's neighbors in the region. Macron pointed out that the U.S. approach under president Trump of "maximum pressure" with tighter economic sanctions has produced a response from Iran of maximum pressure on its neighbors, including the attack on Saudi oil facilities with drones that took out half of the Saudi oil supplies. Macron put forward five issues for negpotiations to focus on: certaity that Iran never acquires nuclear weapons, solution to the Yemen civil war, a regional security plan that addresses other conflicts, ensuring security of maritime navigation especially in Straits of Hormuz, lifting of economic sanctions. He pointed out that "today we have a risk of serious conflict based on miscalculation and disproportionate responses." Mr. Trump even alluded to this when he told reporters after the dismissal of John Bolton as National Security Adviser, saying Bolton made Trump look like a voice of moderation. A lot depends on who are the advisers and whether moderation is exercised on all sides.  Macron, Merkel and Britain's prime minister Johnson met with Rouhani on the sidelines of the UN meetings to encourage dialogue. Countries likely to be severely affected by oil shutoff through the Straits of Hormuz are Japan, South Korea, India and China, and are quietly pushing for an easing of tensions.  ...

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A public relations campaign by China about Japan's role as a colonial power in 1905-1945.

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Caio Benicio a Brazilian Deliveroo driver and a 17 year old trainee chef from France were the rescuers on the scene who disarmed a knife attacker at a Irish language primary school in a inner city area of north Dublin. 

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Zero covid lockdowns have added to the sentiment seeing China as a less attractive location for foreign investment. American companies are seeing staff resign due the lockdowns and zero covid policy. About a fourth of companies in a US Chamber of Commerce survey see a 20% drop in sales in 2022. A similar situation is being seen for European companies in China. The other area of growth from property sector is not working anymore as there is a 59% drop in demand for new property units. Investors in the property sector fear  another situation like that of property developer Evergrande's collapse.  Similar to Japan by 2000 a lot of the government infrastructure for roads and rail and automobiles has already been built leaving less room for this sector to kick in. Investments are possible in AI, renewables, electric cars, and advanced technologies, with limited potential to tackle loss of jobs in other sectors such as construction and government financed infrastructure spending and in retail stores. Retail sales are hit by inflation and high gas prices. The result is that China's GDP may fall by 1% according to one estimate for this quarter from the previous year. For growth and foreign investment look to India where a surge in government financed infrastructure in construction of roads and rapid transit, fast rail, construction of housing, and rapid increase in use of mobile phones, automobiles, and appliances is taking place. A new logistics system is being built with a Master plan for the whole economy under Gati Shakti creating a whole new place for foreign investment in a country of 1.3 billion. With Indonesia and Bangladesh closely related to India this is a market of 1.8 billion people far surpassing China and built on values of democracy ingrained over 100 years since the experiments under the British of elected state assemblies. This happened under limited Hind Swaraj since 1930's when India was led by Mohandas Gandhi in these early experiments with democracy. Germany, France and the US have a lot in common with India and the ground is being prepared with improvements for extensive German, US foreign investment by the Modi administration.  ...

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In this report WSJ looks at US Treasury Secretary's warning to China about its role in the free world and its position in the international trading system and the obligations to human values that come with it. Janet Yellen is so well known as head of the Federal Reserve and as US Treasury Secretary that it is easy to forget her experience at Yale studying under James Tobin who supported meeting social goals, whom she calls a life long mentor. Tobin set the foundations for economic policy in the Kennedy administration in the early post war period, after working in the Franklin Roosevelt administration during the war. Social goals, business paying its fair share of taxes, building infrastructure, were all a part of the FDR and Kennedy-Johnson administration.  It is also easy to forget that Yellen set the foundations for economic policy under Clinton and then under Obama administration the period when social goals were not met, infrastructure was neglected, globalization meant shipping jobs and factories overseas to China, and lack of financial oversight over banks that led to the 2009 financial crisis. The contradiction made Yellen realize only late during the Obama administration how much of a diversion she had taken from the social goals of the FDR-Truman-Kennedy post war period.  As one of the architects of the economic policy underpinning the emergence of China's role as the factory of the world, that destroyed many working class communities in the US, Yellen is in the economic role that Merkel shares in world of political economy with her integration of the German economy with that of China. Today as she calls for a retreat to the values shared by her mentor James T, Tobin and of FDR and Truman as they responded to the Berlin Crisis in the aftermath of 1945, and the Korean War with large scale invasion of South Korea and the kind of refugee crisis that we see today in Ukraine, there is much room for reflection. Reflection on what was lost in the intervening years of the Bush-Clinton and Obama years that led to the situation that the free world faces with totalitarianism today.   ...

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This report in the WSJ  shows that president Xi is pulling back from his signature economic policy to reduce wide gaps in wealth and opportunities in China. In 2021 this was a policy that Xi pushed to reduce inequalities that have built up over decades of hypergrowth. One tenth of the population owns 68% of the wealth in China creating an highly unequal society. Concerned about the future of the Communist party as disparities kept widening and 40% of the population was left behind, Xi early on in his first and second terms made tackling corruption and inequality part of his policy.  Yet the way China's economy is structured, its dependence on the construction industry for growth, and on local governments for investment, it is easier to tackle infrastructure projects than address widening gaps in society. Xi's efforts have led to slowdown in growth to 5% or less. With the US and Europe moving to shorter supply chains and moving supply chains to less integration with China, slowing growth to less than 4-5% presents a major challenge for China. Leading to a pull back from the Common Prosperity policies that Xi initiated and which are part of Communist party policy in its early period after 1949. A major problem for China says WSJ is that social security contributions revenue is 6.5% of GDP compared to 9% for advanced countries in the OECD, the Organization for Economic Cooperation and Development. Personal income taxes are 1.2% of GDP compared to 10% in UK and US. This prevents the better funding of programs for maintaining a better safety net and social support for the less well off in society. The pandemic followed by Ukraine war have added new urgency to the acceleration of the effort to build new supply chains, leading to new manufacturing innovation and manufacturing leadership in the US and European Union, and in countries such as Japan, India, and other parts of Asia. This too has made the goals of reducing inequalities and addressing the wide disparities in Chinese society more difficult with sharply slowing growth in China. This was also the experience of Japan and South Korea with decades of fast growth followed by sharp slowdown with unanticipated problems. ...

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A major British and Indian collaboration and scientific achievement of both countries is not given the recognition it should get because of mismanaged communication of the results of clinical trials. Tom Whipple science editor of The Times says do not make the mistake of thinking oh Pfizer vaccine scores a 9 out of 10 and Oxford's a 7 or 8 out of 10. Pfizer vaccine says it 94% effective. But this is only part of the story. It is the first exam paper in a long number of exam papers and the final score will require scoring them all. "Oxford vaccine is complex, and we are happy with the complexity," says Adrian Hill, Oxford researcher and head of the Jenner Institute. It is not highly unusual in this complex field for a half first dose to work better than a full first dose in a two dose vaccine treatment. This happened with the Oxford vaccine. As a result the study results were harder to communicate. This happened by accident. Much of medical research and much of medicine's biggest breakthroughs in the last 200 years happened by accident, as one researcher looked for something and accidentally discovered something else profoundly useful. Whipple's points are turning out to be true now that Britain's medicine regulator has asked that Pfizer vaccine not be given to people with history of allergic reactions after 2 NHS workers had strong allergic reactions. A lot of questions remain for all vaccines. How long will the protection last? WIll it prevent transmission of coronavirus? Are there any other complications? Which vaccines can work without ultralow refrigeration storage? Ahead lie the prospect of billions of doses. Two are in final stages in India including Bharat Biotech request for emergency authorization. Johnson & Johnson has a competing one to Pfizer's in the U.S. As many as 30 are being developed in India and 100 around the world. Countries like South Korea say they will wait to find out which one works best and where cost overall combined with benefit is attractive. Some of the vaccines are coming out only weeks apart. The early ones could stumble, if something was missed. ...

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Rural America has the same percentage of Americans that are prone to fringe views as urban America about 27%, the rest are simply trying to find ways to meet severe health, educational, lack of investment in rural areas by government, and cost of living challenges, that other communities have, says Nicholas Jacobs, professor of Colby College. He knows rural America as he shows in his new book -The Politics of Place and the Disuniting of America. Jacobs lives in rural Maine and has both studied reams of data and himself lives in a rural area. Here is the truth he says- Rural America is suffering from chronic health conditions, health worker and hospital shortages, limited employment opportunities and infrastructure deficits, rural schools suffering from funding gaps and teacher shortages. Similar to urban, yes, yet even worse, and need understanding not recrimination. What JFK rightly called, a policy "to lift all boats," from his speech in Arkansas, saying rural Arkansas was as much the Nation, as Massachusetts. He warns Americans to be careful what they listen to about rural America in talk shows or in books written to get audiences from one segment of the population or the other, with gross mischaracterizations of Rural America and its so called rage, with condescending views about people simply struggling to make sense of all the change some of it for the worse going on around them- in this period of Beaverbrook television or internet media. Beaverbook television is after a press baron in the last century in Britain who saw it fit to take advantage of crises of any sort to sell tons of newspapers for a profit, along the way promoting any bias that he had regardless of whether it was proven right or wrong. At one point UK press barons including Beaverbrook, controlled 13 million circulation the most in the world in 1947. Today instead of newsprint it is in book, television, social media or the internet video formats. This can concoct narratives of people that do not exist by using polls that are inadequate, and superficial understanding, with no effort to look for credible answers to difficult questions, and no effort to look for solutions that "lifts all boats," in America and in the World. ...

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A 1000 mile windswept coastline and 300 days of sunshine make the southern African nation of Namibia an attractive location for green hydrogen projects. Green hydrogen is produced using wind and solar energy. There is a 50 fold increase in green hydrogen projects in just the last 12 months globally. The costly technology needs many projects to get to lower costs through technological advances. Germany is doing a pilot project in Luderitz, Namibia. Luderitz will need a deep water project to ship the fuel out.   Renewable wind and solar energy is used to distil the hydrogen atoms in water, as opposed to the currently used method to maky hydrogen from fossil fuels, known as gray hydrogen, or blue hydrogen if the emissions from fossil fuels are captured. Namibia is chosen as its natural advantages could bring the costs down faster. Other locations being adopted are Morocco, Australia, and Chile. The two sites in Namibia had bids from Africa's Sasol, Australia's Fortescu, Germany's Enertrag and Hyphen Hydrogen.  Hyphen Hydrogen won the bid for the two sites. It says the $9.4 billion project is targeting 300,000 metric tons of green hydrogen production a year from 5 gigawatts of renewable energy generation capacity by 2030. "Now all of a sudden the desert has become valuable," says Namibia's finance minister Mr. Shiimi. Additional asset for Namibia is that it ranks highest after Cape Verde in Africa for transparency, creating ease of doing business. It is ranked 57 in Transparency International rank of transparency for countries in 2020. China is 78, India 86 in rank. Namibia is putting up $45 million for the feasibility study on the project with the sesert scrub land an hour from Luderitz, once a diamond mining town on a rocky Atlantic coastline in 1900. Two sites are located in the area each 675 square miles. South Africa is severely short of energy supplies and a pipeline is being considered to take the Namibian hydrogen to South Africa. The African region is expanding in renewable energy. Lake Turkana Wind Power Project in Kenya provides 17% of installed electricity capacity in Kenya with 365 wind turbines.     ...

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Following president Trump's decision to increase tariffs on $200 billion of Chinese goods on May 9, 2019, the WSJ looks at the mistakes made by both sides in misjudging each other's negotiating position. Mr. Trump says he is willing to increase the pressure on China by imposing tariffs on all Chinese imports into the U.S. after what he sees as China reneging on its commitments on trade by deleting key sections on enforcement provisions and Chinese legislation for enforcement to take place in the 150 page agreement prepared for both presidents to sign.  Early on in the negotiations between Liu He and Mr. Lighthizer, China misread the thinking on the U.S. side. Chinese thinking was that president Trump's urging for the Federal Reserve to lower rates was a perception sign of the weakening U.S. economy. It also may have misread the extent to which Mr. Trump trusts Mr. Robert Lighthizer, who Mr. Trump respects for winning a good deal with the Japanese in similar situation of Japanese rejection of U.S. demands. Mr. Trump also thinks the U.S. has a strong economy, is the largest world producer of oil, strong economic growth in the last quarter of 2018, is also negotiating better deals with other countries including the ones with Mexico, Canada and South Korea. It is also much less dependent on exports to China, giving it a stronger position with more experienced negotiators. China has whole sectors of its economy dependent on exports to the U.S., and crucial numbers of jobs at stake.  China also misread the signals from its stronger than expected economic growth from stimulus efforts in the last quarter, leading to it staking out a tougher position than the U.S. would accept. The U.S. position was set after decades of waiting for China to change and was unlikely to be affected by any temporary considerations.  As a result the U.S. not anticipating the Chinese response of deleting key sections agreed to in advance from the 150 page written agreement gave a strong response. Mr. Mnuchin who accompanied Lighthizer in talks says Mr. Lighthizer "read them the riot act" to the Chinese side. For the Chinese side the effort now shifted to continuing good faith talks without appearing to back down. ...

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Greece spends 2.2% of GDP on the defense budget compared to 1.2% for Germany for 2014, according to the World Bank. Greece's Syriza government almost took Greece out of the eurozone over spending cuts for the poorest pensioners, submitted the proposed creditor terms for the cuts to a referendum in a manner reminiscent of the rejection of an ultimatum rejected by Greece from Mussolini for occupation of the country, using the term "Oxi" in Greek for "No." Greeks remember this with a postage stamp showing "Oxi," so embedded it is in the Greek memory. And about 85% of young people in Greece vote for "Oxi" in the July 5, 2015 referendum. Why is a NATO member spending so much on defense during a severe crisis, and is the EU right to insist on cuts in defense spending and some of the other reforms. Between 2000 and 2008 Greece's spending on military was about twice the euro area average- close to 3% for Greece compared to about 1.4% for Germany, and much lower in other countries in the euro area. The total Greece debt is not an issue the way it was earlier in 2010-2012, according to experts including Krugman and the former Greece finance minister in separate opeds in the NYT, as its now financed at very low rates, and the next step inevitably under any administration in Berlin and Athens would have been longer maturities and even lower rates- under any administration in Greece, including under Samaras- as the Germans, the Dutch and the French, know deep down it can never be fully repaid. The main issue of money transfer to creditors was tackled by changing the dateline for the surplus the largest issue according to experts, a similiar flexibility shown to Italy, Spain and France for their deficits as their economies suffered from spending cuts, high unemployment. This returns the focus for how Greece can manage its budget prudently including military, welfare, and other areas. The referendum did not change the way Greece will tackle spending under EU guidelines after the Syriza left government accepts the new 3 year package negotiated with the EU in Brussels July 12, 2015. The new plan will include $300 million in cuts for military spending by 2016, and shipowners will now pay taxes....

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Amazing! Just fresh from the foreclosure crisis and as the worst of the foreclosures are taking place between now and 2009 for subprime and other loans homebuilders and home sellers are financing the 3% downpayment required by FHA for loans from the is government agency. What do they hope to accomplish sell homes and have the government foot the bill when these homes also go into foreclosure in a downturn? Already above average default rates for seller assisted down payment programs will make this government agency the Federal Housing Administration ask for a government subsidy for the firtst time in its 74 year history. The FHA will need $1.4 billion next year. FHA estimates that down payments provided by nonprofit groups account for 34% of all 200,000 loans backed by the FHA so far this year, up from 18% in all of 2003, and less than 2% in 2000. And FHA says that borrowers are 2 to 3 times as likely to default on their payments when they receive a down payment from a nonprofit. The reckless manner in which homebuilders are selling these homes is unbelievable, more so in today's difficult economy. See the ads for these homes in this WSJ article and its is shocking. D.R. Horton is advertising 100% financing for 2 and 3 bedroom homes near the beach in Maui, costint $498,000, and a Seattle area builder Quadrant corporation is advertising townhomes for $500 downpayment. Use your coffee budget says a online promotion in the St Louis area! And though the risks are known to housing officials in the government they face a battle from well funded and coaltition of homebuilders, lowincome housing and minority groups. though its hard to understand how a home that ends in foreclosure for a low income group or minortiy group can benefit a minority group. Yet the Black and Hispanic caucus, people in Congress like Maxine Waters and Barney Frank still think it does as they continue to support the lobbying that keeps these kinds of loans going. Two examples given here of a Dick Whitmore and a Gloria Harris one saying it was impossible for him to come up with the $5000 downpayment and the other saying she was living from week to week suggest that they are likely to end up having difficulty making payments. ...

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Comments on X that cause difficulty for DJT chief of staff Susie Wiles to keep a clear narrative and the loss in the Wisconsin SC election are leading to a sense that Elon Musk could be a political liability. DJT focus is on the midterms and keeping the majority in the House, which is also why Elise Stefanik was asked to not accept the job of UN Representative and remain in the US Congress. The immediate focus is on tackling the Tariffs Liberation Day action April 2, 2025 so that followup negotiations with about 50 countries including major ones with Japan, Taiwan, Israel, Britain followed by European Union, South Korea and other nations. This would reassure markets as country after country is developing a new trade relationship that respects US manufacturing goals. China could then be tackled as a special case with America limited to loss of $146 billion in energy and grain sales which would be diverted to Europe's energy needs and farmers could be given a $50-100 billion support package. China would then have to find a way to preserve its $1 trillion surplus without the American market  which would require it to find other markets, and create a domestic market, if it chose not to negotiate and accept American manufacturing goals. ...