LyrArc Article Gist
US president Biden feels the tax system is not fair for most Americans and the Trump tax cuts favored the wealthiest Americans. Detailed studies from universities Chicago, Harvard, Princeton and Treasury Department on 2017 Trump tax cuts lowering taxes for corporations from 35% to 21% for top corporate tax rate, and accelerated investment spending deductions, show much of the investment that took place after tax cuts in 2017 would have taken place anyway. And that the tax cut did not pay for itself, adding $100 billion to the national debt of $34 trillion each year. Striking was the point in the studies that said that instead of $4000 the average American only benefitted by $750 per year, most of the benefits going to the wealthiest and corporations. Many of the largest corporations tech and oil companies pay less in taxes than any notion of fairness would call for sometimes much less than ordinary workers.  Biden now proposes the tax increases for corporations to go up to 28%, higher taxes on foreign profits, and the corporate minimum tax increased from 15% to 21%. And for employees paid more than $1 million corporations not to be able to take deductions. ...

LyrArc Article Gist
About two thirds of China is urban people but only 48% have residency rights, meaning about 250 million people are not getting the benefits of schools, pensions and healthcare in cities. Ministry of Human Resources shows only 22% of migrant workers have these benefits.  There are about 67 million Chinese children left behind by their parents in rural areas as they search for jobs in cities. These children do not see their parents often, sometimes not at all in a particular year. They have suffered lack of parental attention and have poorer schooling. In 2024 as some of these children grew up and became migrants themselves they did not want want happened to them happen to their children, and delay having children.  China's government considered rural couples as a good way to makeup for low birthrates. This has been proved not to be the case. China's household registration system is call hukou- it restricts access to healthcare and schools for migrants and discourages migrans who live in factory dorms or other restricted housing arrangements from taking children with them. Rural incomes are less than half of urban $3000 vs $7000 a year. ...

LyrArc Article Gist
Eminent climate ecologist Nicholas Stern says India's commitment by 2070 demonstrates real leadership from Mr. Modi of India.The Guardian says India's commitment to net zero emissions by 2070 is realistic considering that it is decades away from its peak in economic growth and energy consumption compared to US or even China. Energy consumption is expected to grow faster than any other country in the next few years. India's population is also expected to pass that of China as the largest in the world. The Guardian says climate experts who did the modeling have said this was the most realistic scenario for India - to achieve net zero emissions by 2070. This also means India's peak energy emissions will be reached by 2030. Eminent climate ecologist Nicholas Stern says - "This was a very significant moment for the summit. This action might mean India's annual natural greenhouse gas emissions could peak by 2030. This demonstrates real leadership from a country whose emissions per capita are about one third of the global average."  Also significant is Mr. Modi's pledge to deliver on 5 commitments 1. 50% of India's power to be generated by renewable energy by 2030. 2. Increase of 500 gigawatts of renewable energy including solar by 2030. 3. Reducing carbon emissions by 1 billion tons by 2030. 4. Reduce carbon intensity of the economy by 45% by 2030. This relates to how efficiently energy is used to generate 1 unit of economic GDP. With 1.3 billion people India is the third largest emitter of carbon dioxide- at about 3 billion tons- after the US and China. In growth terms this means India is going to grow very differently from the way China did in 2000-2020 with its many highly polluting industrial plants. The head of the US Renewable Energy Agency Mr.Birol says in a BBC intervew that the cement and steel plants alone of China have more emissions than the whole of the European Union's total emissions. Much of this comes from old plants and old technologies with surplus production of steel from what is now a bygone era of excess, inefficiency and chaotic growth. India plans to bring climate change emissions and energy efficiency through renewables into its Gat Shakti master plan for the country's economic.development. ...

LyrArc Article Gist
PM Modi talks about the changes since 2014 and the difference in India now compared to before 2014, during his visit to Shimla, Himachal Pradesh, a place that is close to his heart. His visit is for the "Garib Kalyan Sammelan" for the many schemes launched by his government for the benefit of ordinary people. "Before 2014 there were headlines in the newspapers, debates were taking place on TV channels regarding loot corruption and scams. But time has changed, now the talk is about benefit of government schemes. The World Bank too talks about ease of doing business in India. The Government prior to 2014 regarded corruption as a necessary part of the system. That government succumbed to corruption instead of fighting it. The country then was watching money for schemes being looted instead of going to the needy." With the combination of Jan Dhan, Aadhar and Mobile Modi said money was directly reaching the beneficiary account. Previous governments had accepted that money would not reach the beneficiary and development would be looted. "We have taken the initiative to make 100% benefits reach 100% of the beneficiaries. The government has taken the pledge for reaching the saturation of beneficiaries. 100% empowerment means ending the discrimination, every poor person gets the full benefit of government schemes." "Earlier there was compulsion to suffer because of smoke from the kitchen, today there is the facility to get LPG cylinders from the Ujjwala scheme. Earlier there was the shame of open defecation, today the poor have dignity of toilets. Earlier there was helplessness to raise money for treatment and hospitalization, today the poor have the benefit of Ayushman Bharat." PM Modi talked about how the Northeast was alienated before 2014, and now it was connected by heart and by infrastructure. During the pandemic India sent medicine and vaccines to 150 countries. India stretched out its hand to help other nations. India, he said, has shown that it not only has the potential, it is also a performer. International organizations are accepting that poverty is coming down and there are more facilities for the people. ...

LyrArc Article Gist
The effect on Asia of the US Fed's action on November 3, 2010, to buy $600 billion of US Treasury securities. This will create even more inflows of capital into emerging markets. Hong Kong with its currency pegged to the dollar, effectively imports low interest rates from the US, at a time when property prices have risen 50% since early 2009. And with the growth in China, Hong Kong's economy is growing rapidly. This risks a price bubble. The response in Hong Kong is to tighten lending restrictions on property purchases. South Korea is considering imposing controls on the inflow of capital. The Thai baht is up 11% against the US dollar in 2010, the Korean won 6%, and the Philippine peso 8%.

LyrArc Article Gist
Women's World Cup Final at Navi Mumbai 2025 -India vs South Africa. India 298. South Africa requiring 9 runs an over at 209 for 6, are bowled out for 246. Deepti Sharma with a knock of 87 and 2 wickets is player of the match, Shefali Verma could have been player of the match with 5 wickets. Harmanpreet Kaur with her own batting performance and captaincy could also have been player of the match. South African captain Wolvardt scores 100 but requires much more to get to 9 runs an over when South Africa were 209 for 6. The batting performance of Kaur and Sharma and bowling by Verma and Sharma set India on the right path to win this game.

LyrArc Article Gist
Washington DC National Guard deployment ruling by District Judge Jia Cobb ruling it unlawful gives time to December 11 for federal government to appeal her ruling. Small crimes committed by delinquent migrant youth on cycles had affected safety in the Nation's capital leading to the federal government sending in the National Guard when DC authorites failed to correct the situation. 

“Since September, cleanup teams have collected more than 500 tons of debris across the District—visible proof of a unified commitment to restoring public trust, improving quality of life, and ensuring that the capital reflects the pride and dignity worthy of representing the American people,” says the Army website in November 2025.

LyrArc Article Gist
It is written in the Bhagavad Gita (Swarupananda) "Know that these (two prakritis) are the womb of all beings, I am the origin and dissolution of the whole universe, Beyond me, O Dhanajaya, there is naught. All this is strung in me, as a row of jewels on a thread." Indonesian president Subianto won election by 58% of vote with promise for 90 million children free school lunches. He was invited guest for Bharat (India's) Republic Day parade in New Delhi alongside prime minister Modi of Bharat (India). Indonesia and Bharat in this part of Asia, it has 1.7 billion people. The ancient god Hanuman is revered in Indonesia and Bharat, the people here are determined to breakthrough into the modern world of science and technology. Japan, South Korea and China made progress since the 1890's over 135 years. Bharat is poised with Indonesia to bring 1.7 billion people into the Modern World for Vikshit Bharat Developed Bharat by 2047, the 100th anniversary of Independence. For this much of the work was done by Mohandas Gandhi, and less well known the selfless leadership of Atal Bihari Vajpayee in 1998-2004 and Modi 2016-2025. Without Vajpayee's leadership there would be no base for Modi's effort for modernization. Swami Vivekananda inspired in turn Gandhiji, Sukarno, Vajpayee, and Modi- the thread of yoga and Bharat runs right through it all as it is said in the Bhagavad Gita.     ...

LyrArc Article Gist
Total sales of Truth Social are $5 million over 3 years, it cost $40 million raised through convertible notes to finance losses, says this WSJ report. By using financial dealmaking methods this could create $300 million for Truth Social and $6 billion for Trump Media, says WSJ in the report. DWAC shares were set at $10 and are now at $144 with its connections to Trump Media & Technology Group, going up 150% in the last year. Digital World Acquisition is a SPAC meaning that it is a shell company- or special purpose acquisition company in financial jargon- that lists shares on an exchange with the sole purpose of buying a private company and taking it public. Investors buy and shell shares on the expectation of which company it buys and how that company will perform. Trump Media and Technology Group, the parent of Mr. Trump's Truth Social social media company will merge with Digital World Acquisition SPAC and the new company will replace the old with the sticker changing DWAC to DJT. This could happen next week if the majority of DWAC shareholders approve it. This could get Truth Social $300 million says WSJ and Trump Media main shareholder with 60% holding about $3.5 billion in this deal making, says WSJ. ...

LyrArc Article Gist
Grady Cash is an active runner at age 71. A sports hernia sidelined him at age 50 but he has found his way back into running. After a 2 year hiatus he returned to the track. He entered his first national track and field competition in 2004, and by 2015 eleven years later he was running in the 200 metres at the 2015 USATF Masters Indoor Track and Field Championships. Here he cam in last and had a revelation. Most of the runners were shaped differently than the long distance 1500 metres runners. These people were V shaped with tiny waists, broad shoulders and big leg muscles. From this he learned to do weightlifting at a local gym in Nashville and hired a trainer. After his retirement from financial planning he set up his own routine. He runs with a group at the Vanderbilt University track two afternoons a week ages from mid 20's to 76. A typical workout is eight repetitions of 200 metres that are sequentially faster. He does easy recovery runs on the trails. Mot important he tries to remain injury fee in the kind of routine he selects and listens to his body all the time not to overwork it and run  injury free the next day.  ...

LyrArc Article Gist
Germany is going through a second year of slight economic contraction. The newly elected government of chancellor Merz has setup a $1 trillion fund to invest in infrastructure and defense. This will increase the debt to GDP ratio from 62% much lower than other advanced economies to 75%, and could give the German economy a rebound with $500 billion for fixing aging infrastructure. Germany's unemployment rate stands at 6.3% in March 2025. The economy weathered a energy crisis with the cutoff of energy supplies from Russia during the term of chancellor Scholz. Infrastructure, child care, was neglected under Merkel and previous administrations as it was in the US under Clinton, Bush and Obama administrations. The 2009 financial crisis, the eurozone debt crisis and the pandemic, Ukraine crisis from 2009 to 2024 have provided headwinds for action to renew Germany till now. A $1 trillion new fund and removal of the constitutional brake under the newly elected parliamentary majority of the CSU/CDU, the SPD and the Greens is the first step with $500 billion earmarked for fixing aging infrastructure, digitization of the economy, and other investment. The unemployment situation is deteriorating in the auto industry which was poorly managed and is now being hit with US tariffs of 25% on imported cars made by BMW, Mercedes and VW. ...

LyrArc Article Gist
Lufthansa and Etihad Airways have asked for permission to begin Airbus A380 flights into India. India is a major market for the A380 which can carry as many as 800 passengers in all economy seating. The Indian government is taking a new look at the A380 after earlier concerns of protecting domestic airlines. Etihad is planning on taking a 24% stake in domestic airline Jet Airways and the sector is being opened up to foreign competition.

LyrArc Article Gist
Rising inflation at 20% in Iran in Dec 2011. Cash payments by the government to soften the impact of lower subsidies on fuel and other products brings more rials into circulation, leading to higher inflation. Sanctions are also affecting the economy. The rial has declined in value from 7000 rials to the dollar in October 2011 to 15,150 rials in December 2011, according to the Fars News Agency.

LyrArc Article Gist
Toyota's hybrid strategy is to make it difficult for other automakers to develop their own hybrids wihtout getting licensing from Toyota. Ford did this for its Escape hybrid, and Nissan is doing this for its Altima hybrid. Toyota has meticulously filed patents for more than 2000 systems and components for its Prius hybrid. Toyota aslo aims at increasing revenues through licensing. Honda has developed its own hybrid without infringing on Toyota's patents, but other companies may choose to license Toyota's technology. Other companies are also achieving high fuel efficiency through diesel technology and by developing highly fuel efficient technologies that match the Prius.

LyrArc Article Gist
Netflix is expected to lose 2 million subscribers in the current quarter. It has reached its ceiling at 212 million subscribers worldwide. Netflix has followed a subscriber paid commercial free model. Passwords are being shared with an additional 100 million homes including 30 million in US and Canada. During the period of heady growth not much attention was paid to password sharing.

LyrArc Article Gist
U.S. president Trump will host NATO secretary general Jens Stoltenberg at the White House on April 12, 2017, as tensions between Russia and the U.S. increase following the U.S. missile strikes in Syria. White House officials say Trump is "100% committed to NATO." In May Trump will meet other heads of government at a NATO meeting in Brussels. 

LyrArc Article Gist
The Mueller Report takes a position that that there was no collusion with Russia in the 2016 election but takes no position on the issue of obstruction, according to this report in NYT. Attorney General Barr provided a short summary of the 300 page report. The Judiciary chairman of the House is calling for the release of the entire report to the public.

LyrArc Article Gist
The legislation in the U.S. Congress includes $425 billion for U.S. Treasury Department Exchange Stabilization Fund. Treasury has used this fund to cover losses on new lending facilities launched by the Federal Reserve. The new lending facilities include $300 billion in financing for corporate credit markets, and consumer and business credit markets, with Treasury covering losses of $30 billion from the Exchange Stabilization Fund.

LyrArc Article Gist
De Aenile describes the volatility in stock markets after the Brexit vote. Earnings growth is slow and expectations are declining. Indexes of emerging markets are trading at 10 times earnings, say experts. The S&P 500 ended the quarter at 19 times earnings, compared to historical average of 15, according to this report. Uncertainty remains high in Europe and the U.S., and monetary policy is stuck in a low interest rate environment.

LyrArc Article Gist
WSJ points out that the wealthiest 400 billionaire families in America pay only 8.2% in taxes on federal individual income taxes between 2010 and 2018, not the 3% it says president Biden has said. The average income tax rate in 2020 was about 14% says the WSJ. For higher incomes it was about 25%. All this happened while infrastructure, education and health remained woefully underfunded, with Tech companies egregious behaviour in not paying their fair share of taxes and massive misallocation coupled with low productivity of capital invested compared to infrastructure. 

LyrArc Article Gist
Argentina faces severe inflation of over 70%. The central bank raised its main interest rate to 75% to rein in inflation. In December 2022 the International Monetary Fund approved $6 billion, in a 30 month program that is expected to reach a total of $44 billion. The government of Pedro Sanchez has announced additional $10 billion in cost of living aid to take the total to $45 billion. It comes through reduced VAT and $200 one off payments to households making less than 27,000 euros a year.

LyrArc Article Gist
By multiple standards Greece had the deadliest rail system in Europe with neglect of basic safety features. The European Commission has given $700 million to Greece for modernization of railways. $117 million was given for safety for the Athens to Thessaloniki route alone. Yet little was done. The European Union Agency for Railways says it had an action plan for safety for Greece but there was little action from the Greek government. Even basic automatic braking was not operational at the time of the collision of two trains on one track. 

LyrArc Article Gist
France's Macron introduces a three step plan for reopenings after lockdown, with dates of December 15 and January 20 for reopening the economy. Shops will be allowed to open under strict social distancing rules for Christmas sales. If cases per day drops below 5000 the government will lift the lockdown on Dec. 15 and replace it with a 9 pm curfew. " After saying that spirits can be low, debates get heated, Macron said "we need to do everything to prevent a third wave, a third lockdown."

LyrArc Article Gist
Vaccine passports play an important role in tackling the pandemic. France and other countries in Europe have increased the percentage of people getting vaccinations by requiring EU vaccine digital certificate for entry into pubic transportation, restaurants and large events. Vaccine digital certificate helps reduce the the need for lockdowns. Us president Biden has also moved in this direction with the new vaccine mandate in the US requiring all federal government employees and employees of companies with more than 100 workers to get vaccinated and show digital proof of vaccination.

LyrArc Article Gist
The price of gas powered cars and EV's is closing, to about $5000 according to Cox Automotive. Tesla is cutting prices because of new competition from Japanese, Korean and German models in the US market. China's BYD is also in the global market with new battery technology that cuts cost. Batteries make up 40% of EV car cost. The cost of making EV's will drop to becoming the same as gas powered models by 2027 as companies get more experience in the new technologies, says Gartner.