LyrArc Article Gist
WSJ Review and Outlook on Thanksgiving Day 2025 - "This Fair Land" and the people of America who undaunted by other troubles left Delftshaven for these shores a long time ago. Delftshaven is todays Delfshaven that is a part of the port city of Rotterdam in the Netherlands from where the Pilgrims left for America. Pilgrims left Delftshaven in July 1620 on ship Speedwell to Southampton, England, then in September on the ship Mayflower to America.

LyrArc Article Gist
How global travel and ultra cheap flights in Europe have seeded this pandemic is the subject of this report in NYT. The Austrian resort here is one of many such ski resorts. An earlier report showed how 21 million tourists visiting beach resorts in Croatia on the Adriatic are spreading the coronavirus in a second wave in Europe in September. From Europe it is a short step to the U.S. and other countries. See in Links.

LyrArc Article Gist
Morgenson says that the lobbying by the financial inudstry to weaken reform efforts for derivatives trading and resisting other reforms will only lead to taxpayers paying for more rescues later on.

LyrArc Article Gist
Boris Johnson says outside 10 Downing Street that it is time now to focus on the task ahead- to bring opportunity to every corner of the country, to do this by investing in the National Health Service, in schools, infrastructure and in public services. He calls for the healing to begin after five weeks of wrangling in the election campaign so that the whole country can come together. 

LyrArc Article Gist
James McIntyre's book about Gordon Brown, (title is Power with a Purpose) who like Jimmy Carter, was more respected in retirement for doing good work humbly and not getting into a revenue generating speaker's circuit or consulting, or boards of directors of companies. McIntyre looks at his career, the involvement of Mandelson as Business Secretary, the failures of Mandelson and Blair in New Labour, and Gordon Brown's failure to revive the Labour Party. The Times says Gordon Brown has grown in stature since leaving No. 10 Downing Street. Under Blair, Brown was No.2 and headed the British Treasury as finance minister. He only became prime minister at the end of his career during the 2008-2009 financial crisis. He started the effort to redefine Labour Party after Margaret Thatcher defeated the Labour candidate from Plymouth Mr. Foot and swept out socialist Labour and the trade unions. Then followed privatization and changes in the British economy which were followed by Reagan in the US by 1980. Through this period Brown and Blair tried to create the concept of New Labour which won in landslides as Britain switched back to Labour as the alternative. As the Blair magic withered Brown was left tackling the 2009 financial crisis but failed to define what Labour was- his Business secretary was Peter Mandelson who unlike Brown was in Labour but in for his own purpose and had a cynical attitude to politics as a way to retire in some privileged business position on boards of directors. The result is well known Cameron and the conservatives who were even less qualified than an earlier generation of Conservative politicians, their decision to call the Brexit referendum, the verdict of yes on Brexit leading to Cameron's replacement by Boris Johnson, and Britain having 4 prime ministers in a span of five years as discredited austerity drive was replaced by Keir Starmer's Labour. This project with McSweeney as Starmer's campaign manager cleared Labour of socialist outlook Corbyn supporters, won in a landslide in 2024, only to fail to define the purpose for which Labour stood for and Starmer's ratings dropping to new lows of 18% support as Reform UK's Farage took up the issue of migrants and the culture that enabled migrants to enter the UK. Britain has been let down by two generations of less competent, poorly qualified for public service politicians over three decades since the 1990's- through Blair/Brown, Cameron, Boris Johnson and left struggling with Keir Starmer. Sixty years after decolonization of an Empire in the 1960's, Britain has not gained in purpose and strength, only drifting along as new powers emerge in Asia and the world changes. ...

LyrArc Article Gist
Morgan McSweeney acquired power as an organizer removing Corbynite left politicians from the Labour party. He is from County Cork, Ireland, his father an IRA courier, who left Ireland to get a politics and marketing degree from Middlesex University. He helped Labour politicians in London during the Corbyn years and settled on Keir Starmer as the candidate for a shift to the center in politics. There was something strange about Labour's win in 2024 as it got only 34% of the vote and still a large majority. It now appears that this was a highly flawed win, as Starmer was never able to take positions on major issues without depending on McSweeney for advice and backtracking. Worse 50% of Labour's vote disappeared in 2026 polls by February hardly 2 years after the win in 2024, as the support McSweeney helped organize had no depth of conviction- most of it to Liberals and Greens under Polanski. The result is that even the Guardian is disappointed and says McSweeney installed Starmer as PM, and then made him "the most unpopular PM in history." Net favorability in Feb 2026 is -57 similar to Sunak of Conservatives in June 2024. A 75% unfavorable rating in Jan 2026. And 14 points below the Labour party in "like" ratings. Only 18% are favorable for Starmer. ...

LyrArc Article Gist
Austrian Innsbruck mountaineering court case 2026 involving death of less experienced climber when left alone. The disparity between the experience of the man compared to the woman was so large that the court considered it to be his responsibility to care for the safety of the woman after venturing out in the Austrian Alps taking extraordinary risks. The judge ruled that Mr. P had "galaxies wide" experience, and was therefore acting as "a mountain guide" even without a financial payment for this service.

LyrArc Article Gist
Merz popularity dips slightly as he brings up tough issues such as 4 days work weeks in Germany, Many working part time and CDU calling for restricting part time to workers giving care to elderly, childcare, and for education. The German welfare payments close to minimum wage was an issue in Germany but is declining in significance. Most significant today at 35% is the issue of social inequality. Taxes unfairly distributed at 13%, and the asylum seekers issue at 9% lower today by 2%. On the economy Merz pointed out that- "Prosperity cannot be maintained with a four-day work week and an exaggerated work-life balance." He also criticized the high number of sick leave days at 14.5 average days sick leave per employee per year. Polls in February 2026 show CDU at 26%, SPD at 15%, Greens at 12%, Left at 10%, AfD at 24%, FDP 3% BSW 3%. Popularity in Germany is highest for defense minister Pistorius and next comes foreign minister Wadephul. Merz is less popular but he is raising the tough issues and taking strong action compared to Merkel who was more interested in her personal popularity than what was good for Germany. Also not given credit for action is Merz removing constitutional brake on spending for investing in Germany's infrastructure and defense, and fixing problems left behind by Merkel who neglected infrastructure, digital economy, and defense. ...

LyrArc Article Gist
Janet Mills, 2 term governor, 78 years, fails to have poll lead over Plattner with local Maine bred identity in the 2026 Democratic primary. It says a lot about the voter attitudes in 2026 which want to steer forward not backwards. Janet Mills ran ads on Plattner but did not get the lead, leading to her withdrawal from the primary. Republican Susan Collins looks hard to dislodge from this seat. Republicans in Louisiana on the heels of the SCOTUS decision against gerrymandered electoral districts want to redraw the electoral districts so that Democrats are left out of the state Congressional delegation entirely.

LyrArc Article Gist
As many politicians and commentators deride programs by the government in the infrastructure area as " mere spending programs", Robert Frank, an economist at Cornell and NYU offers some much needed clarfication. High savings rates are not bad for the public, savings go into investment int he economy, and higher savings properly channelled can lead to higher productive investments that in turn generate a virtuous cycle of more investments. There is thus no conflict between private savings and economic growth. China's and India's higher savings rate leads to savings going into investments in the economy for higher economic growth. Only in sharp economic downturns does the paradox of thrift operate, here lower consumption leads to lower production and layoffs, and the economy goes into a tailspin as consumers hoard their cash and postpone purchases. There is an element of fear in that kind of downturn. So its aunique animal. With the government stepping in to provide investment, make up for jobs lost, and restoring confidence, the paradox of thrift does not operate. ANd its ok and desirable to have consumers save especially when they are so overstretched as they are today. A real world example is that much of the US credit card debt is at 20% interest rates or more. In just 5 years says Robert Frank each dollar invested in reducing debt would support more than $2.50 of additional consumption, in 10 years more than $6. Savings matter. The wastefulness of spending is not a given. It depends on where the government is spending. If there are productive investments like infrastructure that are waiting to be made, then with some due diligence and care the investments can be very efficient....

LyrArc Article Gist
One of the failures of presidents who preceded Mr. Biden, was to let the revolving door policy of letting private sector executives to join government and set rules that favored the companies they had connections with. This made it harder to tackle the problems of the 2009 global financial crisis triggered by corporate overleveraging and shoddy mortgages. It also left workers and families unprotected, failed to invest in rebuilding American infrastructure, and did not do enough for the middle class. The result was a recovery that failed workers and families- a challenge left for Mr. Biden to tackle and requiring vigilance to avoid missteps such as this one of letting banks and  large corporations write the rules they must follow.

LyrArc Article Gist
Restaurants in UK have large price increases. UK restaurant owners say they are facing a squeeze with 55% of revenue going to pay taxes in 2026, and 45% left for rent, employees wages, electricity, food and other costs. Unclean streets and closure of restaurants during covid affect the prospects in the restaurant business. 38% of restaurant customers say they cannot afford to go to restaurants the way they used to.

LyrArc Article Gist
U.S. federal government efforts through changes in programs for loan repayment to reduce the burden of $1 trillion in student debt. A weakness of the programs is that no effort is made to put some form of cap on what colleges charge for tution, which is moving ever upwards. As a result students will continue to be burdened by high debt. The loan forgiveness after 20-25 years is not an adequate solution as the writer suggests, because extending loan payments of 15% of income for such an extended period of time leaves less for buying a house, for mortgage payments, education of children, and limits what a family can spend for two decades, a poor option for any family especially when both husband and wife are paying off student debt. As long as young people with student debt defer purchases for a new home and other purchases consumer spending will be weak.

LyrArc Article Gist
Saudi East West 750 mile Pipeline from east coast fields to west coast at Yanbu port- capacity 7 million barrels a day with average 4-5 million loading each day in April 2026. About half of this goes to India and China. It is critical supply point for the Saudis now that Straits Hormuz is restricted. The UAE has pipeline to Fujairah which it seeks to double capacity by 2027 from 1.8 million barrels a day to 3.6 million barrels a day. UAE has left the OPEC cartel that limits supplies and sets prices, which makes this critical for the US to ensure oil prices remain at levels that are moderate. UAE now favors lower oil prices while the Saudis objective is to keep prices high.

LyrArc Article Gist
Martin Caparros describes the deadlock in Spain with no two parties on the right Ciudadanos and Partido Popular, and on the left, Podemos and the Socialist party, able to have enough seats i parliament to form a government. An agreement between Ciudadanos and Partido Popular of prime minister Mariano Rajoy, has brought the 2 parties close to 170, 6 short of a majority in the 350 member parliament. New elections will have to be held for the third time in December 2016 as a result of this impasse. The two main parties in Spain the Partido Popular and the Socialist party, alternated in forming a government during the period since the restoration of democrati government after Franco's dictatorship. Following the deep recession in Spain since 2012 two new parties have been formed Podemos on the left, and Ciudadanos a centre right party. Both parties are critical of corruption, and the cuts in spending for education and healthcare following the financial crisis in Spain and bailouts by the European Union. Caparros describes the cynicism that voters express about not just the two main parties, but also for Podemos and Ciudadanos, as voters voice their rejection of politicians and parties on the left and the right. A similiar process is taking place in other countries, in Britain most recently with Brexit and the departure of prime minister Cameron. In the U.S. with the Sanders and Trump movements, and the Beppe Grillo movement in Italy.  ...