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Pew Research Center Original article ›
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Anti Immigration sentiment is not new - it has just changed racial stereotypes from arguing against southern and eastern Europeans and barring Asians for "quality" in 1890-1970 to today's heated debates about Latin American nationalities.  Pew Research ( and the adjoining MPI) show highly relevant US Immigration history. Pew Research shows the foreign born share of the American population is at 13.8 percent. It reached 14.8% percent by 1890,  brought down in the interwar period by 1970 to 5 percent. It has gone back up- the wave of immigration blocked from successive Acts keeping out Chinese (1882), Japanese (1924) and all Asians(1924) has changed to include Asian migration under policies of John F. Kennedy. Pew Research shows in 2022  10.6 million immigrants living in the US were born in Mexico, making up 23% of all immigrants. This is 3.2% of the US population of 335 million in 2024 according to the Census Bureau. The promise of president Harris to sign the legislation negotiated with Republicans in Congress (Senator Lankford) in March to close the Border would remove this distraction from cost of living, housing, and climate challenges. ...
Washington Post Original article ›
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  In a way that recalls FDR Biden backed dockworkers on wages that fell behind.  Former Fed Governor chief economist at the White House, Lael Brainard, together with the Transportation and Labor Secretaries Buttigieg and Julie Su, with White House chief of staff Zient, all in a Zoom call at 5.30 am with shipping company management in the EU and Asia. Brainard made proposal the shipping companies accepted for 62% increase in wages over 6 years, increasing top wages $24. The dockworkers union Longshoreman's Association asked for 77%, a decent share in the large shipping company profits after decades when wages lagged behind cost of living. Zient told the shipping companies in that Zoom call- “I need the offer today — not tomorrow. I’m going to brief the president in an hour that you believe you can get this done today.” Stein, Duncan and Gurley tell the extraordinary story of how Biden backed the call for raising 45,000 workers wages on the port docks along the East.  Coast. ...
Wall Street Journal Original article ›
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Ford Motor Company profit increased in 2015. Ford made $1.9 billion net profit in the 2nd quarter 2015, a 44% increase over the prior year quarter. Revenue declined to $37.3 billion, as margins reach the projected 8-9% range for 2015. Full year operating profits are estimated by Ford between $8.5 and $9.5 billion. Prices on the F-150 truck were up $3600 over the prior year, reaching $44,000. Ford sold more larger vehicles and pickups than sedans. A favorable sales environment is helping sales of more profitable larger vehicles- low interest rates, low gas prices and higher fuel economy on newer F-150 vehicles, including an aluminium body on the new F-150 truck. Recent China sales also show increased demand for the larger vehicles and SUV's, with Ford China market share increasing to 4.5% for 2014. In the U.S. Ford and GM are losing market share, with a focus on profitability. In China sales are growing at a slower pace with the economic slowdown, with 2015 sales growth estimated at less than 1%. Worldwide sales for VW and GM increased to 5.04 million and 4.9 million for the first 6 months of 2015, on the basis of larger market share in China. Toyota worldwide sales declined slightly to 5.02 million. Future prospects may not be as good, as the market in China could become very competitive with too much capacity. The price competition in smaller cars could reach the larger vehicles at some point with the slowdown reducing profits from China....
Wall Street Journal Original article ›
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This WSJ editorial says despite his call for "hard-hitting sanctions" prime minister Cameron of Britain has not taken action to stop the flow of "dirty money" from Russia into the City of London. About $75 billion left Russia so far in 2014 in capital flight as the Russian elite shifts money overseas including to the City of London. France has a planned $1.6 billion sale of Mistral naval ships to Russia, and will need the British example to cancel this sale. Putin's strategy is to distance Europe from the U.S. In the EU countries opposing tougher sanctions are Germany, Netherlands, Italy and Greece. Netherlands suffered the most with 193 Dutch citizens killed in the shooting down of Malaysian Airlines Flight 17 over eastern Ukraine.
Wall Street Journal Original article ›
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Dexia, the Belgian-French bank, reported a net loss of 11.64 billion euros for 2011, including 4.05 billion euros from selling Dexia Bank Belgium to the Belgian government in Oct 2011, and a 3.36 billion euro loss on Greek government bond holdings as a result of restructuring of Greece's debt. Other losses were 2.6 billion euros from an acceleration of the sale of a portfolio of U.S. mortgage backed securities, and about 1 billion euros from the sale of the Paris based public finance business to savings banks operated by the French government. Dexia ends up with a negative total equity of 320 million euros at the end of 2011. Dexia was one of the hardest hit European banks in the 2008-2009 financial crisis.
Wall Street Journal Original article ›
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The pending sale of Barnes and Noble.
The Indian Express Original article ›
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As a new architectural aspect takes shape in New Delhi the Indian Express describes what cam before it and over which the new layer takes place. The shift of the capital from Calcutta to New Delhi in 1911 with Curzon's partition of Bengal leading to much unrest in the Bengal region. Lutyens was the architect of that colonial Delhi laid out for a mere period of 30 years when it became obsolete with the Quit India Movement of 1941. The capital has remained in New Delhi, only to be redone in 2021 under prime minister Modi to reflect Indian national unity and extending from the new War Memorial to the new Parliament Building along a new path that honors a new nation built on the remains of the old. In the context of 2047 the British period begins to appear a mere interruption from 1850's to 1950's for a civilization that goes back to the Buddha at Sarnath and Kusinara about two thousand five hundred years back, forty generations back.

Hindustan Times Original article ›
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Small business and farmers are driving a recovery in the Indian economy in the latter half of 2020 after the impact of the pandemic. Rural India with demand from farmers for cars and tractors is also helping build demand. Maruti Suzuki, India's largest auto manufacturer, had sales increase of 10% in rural India vs. 4% overall in the third quarter of 2020. Manufacturing and farm sector are leading the recovery. Transport and hotel, airlines are also seeing an increase in demand. From 2 million in June airline passengers have increased to 5 million in September compared to 12 million before the pandemic. The second generation reforms made by the Modi administration and the many initiatives are expected to boost the potential growth and scale of the Indian economy. Building a strong manufacturing sector and getting foreign investment in that sector is also a critical step to building the economy's growth potential. Working with Taiwanese investment and investment from the U.S. and the European Union is part of this effort. ...

Putin’s right-hand woman

Economist Original article ›
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Russia's Elvira Nabiullina, has helped Russia avoid the worst effects of the collapse in oil prices with the careful management of the economy. Russia has weathered the crisis better than most emerging markets, say experts, with policy moves that included a devaluation of the ruble, recapitalizing banks, increasing the share of public debt in Russian hands, and assistance to poorer sections of society. Following the last crisis in 2008 Russia built up its rainy day fund, the sovereign wealth fund, to $500 billon to help support the economy in difficult periods. Experts say, and Nabiullina concurs, that what is needed now even more than a rise in oil prices is improvement in business conditions and business climate to generate growth following high interest rates of 17% in 2014. Exceptional performance by an exceptional banker, known for her humility and experience through several crises, as deputy economy minister in 2000 and economy minister in 2007. Better relations with the European Union would do just that, particularly to increase foreign investment in Russia's economy, and restore the conditions for growth. ...
WSJ Original article ›
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Akio Toyoda of Toyota Motors resisted making a full scale commitment to EV's leading to Toyota falling behind in EV technology, ceding leadership to Chinese, American and German companies. This report in WSJ looks at how this happened. Toyota vehicle sales are declining and VW has overtaken Toyota. Toyoda failed to make a commitment to a date for going all electric and this has led to criticism of his management of the company and seen as resistance to the climate transition to EV's in the automobile industry putting behind the period of fossil fuel driven cars. Toyoda is the grandson of Kiichiro the founder of the company when it was in textiles in the 1920's. He says the the role of CEO is very lonely and very hard, as his early years were spent without the team spirit seen at the top and he was closer to the grassroots. He is now chairman and has given the decisions of the transition to EV's to the new CEO, Mr. Koji Sato.

BBC News Original article ›
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A live interview by BBC Hindi with Arvind Kejriwal, chief minister of Delhi. In the interview Kejriwal says there are 55 deaths from the demonentisation by removal of 500 and 1000 rupee notes in India. When questioned about this and proof, Kejriwal says BBC is biased. The effort by the the Modi government to  remove these rupee notes is an effort to get people in the informal economy,  the deals in real estate, and people in other parts of the economy which pay little or no taxes to bring the cash to banks and pay the taxes due. This is intended to increase government revenue for investments in infrastructure and education, healthcare. services. The large scale of the shift has caused difficulties for ordinary people, and the upper classes, and the government is working to work through these problems. In India the black money as it is called is estimated to run to about 1 trillion dollars. It is also the result of corruption and has deprived the economy of needed investments and modernization. ...
United States Department of State Original article ›
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Marco Rubio speaks for the US with profound convictions and long experience in the Florida legislature and the US Senate, and as akey member of the DJT administration. In his speech in Munich at the MSC he recalls his grandparents being from Piedmeont Sardinia in Italy and from Sevilla in Spain. He talks proudly of his Spanish and Italian heritage, of America founded by European settlers. For Europe this is a speech that shows America is profoundly part of Western Civilization that started in Europe. Here are some parts of the speech and Rubio's call for America and Europe to respond strongly to the mistakes in migration and deindustrialization that have hurt the people of Europe and America, with deeply felt negative consequences. "That infamous wall that had cleaved this nation into two came down, and with it an evil empire, and the East and West became one again.  But the euphoria of this triumph led us to a dangerous delusion:  that we had entered, quote, “the end of history;” that every nation would now be a liberal democracy; that the ties formed by trade and by commerce alone would now replace nationhood; that the rules-based global order – an overused term – would now replace the national interest; and that we would now live in a world without borders where everyone became a citizen of the world.  This was a foolish idea that ignored both human nature and it ignored the lessons of over 5,000 years of recorded human history.  And it has cost us dearly.  In this delusion, we embraced a dogmatic vision of free and unfettered trade, even as some nations protected their economies and subsidized their companies to systematically undercut ours – shuttering our plants, resulting in large parts of our societies being deindustrialized, shipping millions of working and middle-class jobs overseas, and handing control of our critical supply chains to both adversaries and rivals.  We increasingly outsourced our sovereignty to international institutions while many nations invested in massive welfare states at the cost of maintaining the ability to defend themselves.  This, even as other countries have invested in the most rapid military buildup in all of human history and have not hesitated to use hard power to pursue their own interests.  To appease a climate cult, we have imposed energy policies on ourselves that are impoverishing our people, even as our competitors exploit oil and coal and natural gas and anything else – not just to power their economies, but to use as leverage against our own.  And in a pursuit of a world without borders, we opened our doors to an unprecedented wave of mass migration that threatens the cohesion of our societies, the continuity of our culture, and the future of our people.  We made these mistakes together, and now, together, we owe it to our people to face those facts and to move forward, to rebuild.  Under President Trump, the United States of America will once again take on the task of renewal and restoration, driven by a vision of a future as proud, as sovereign, and as vital as our civilization’s past.  And while we are prepared, if necessary, to do this alone, it is our preference and it is our hope to do this together with you, our friends here in Europe.  For the United States and Europe, we belong together.  America was founded 250 years ago, but the roots began here on this continent long before.  The man who settled and built the nation of my birth arrived on our shores carrying the memories and the traditions and the Christian faith of their ancestors as a sacred inheritance, an unbreakable link between the old world and the new.  We are part of one civilization – Western civilization.  We are bound to one another by the deepest bonds that nations could share, forged by centuries of shared history, Christian faith, culture, heritage, language, ancestry, and the sacrifices our forefathers made together for the common civilization to which we have fallen heir. And so this is why we Americans may sometimes come off as a little direct and urgent in our counsel.  This is why President Trump demands seriousness and reciprocity from our friends here in Europe.  The reason why, my friends, is because we care deeply.  We care deeply about your future and ours.  And if at times we disagree, our disagreements come from our profound sense of concern about a Europe with which we are connected – not just economically, not just militarily.  We are connected spiritually and we are connected culturally.  We want Europe to be strong.  We believe that Europe must survive, because the two great wars of the last century serve for us as history’s constant reminder that ultimately, our destiny is and will always be intertwined with yours, because we know – (applause) – because we know that the fate of Europe will never be irrelevant to our own.  National security, which this conference is largely about, is not merely series of technical questions – how much we spend on defense or where, how we deploy it, these are important questions.  They are.  But they are not the fundamental one.  The fundamental question we must answer at the outset is what exactly are we defending, because armies do not fight for abstractions.  Armies fight for a people; armies fight for a nation.  Armies fight for a way of life.  And that is what we are defending: a great civilization that has every reason to be proud of its history, confident of its future, and aims to always be the master of its own economic and political destiny. It was here in Europe where the ideas that planted the seeds of liberty that changed the world were born.  It was here in Europe where the world – which gave the world the rule of law, the universities, and the scientific revolution.  It was this continent that produced the genius of Mozart and Beethoven, of Dante and Shakespeare, of Michelangelo and Da Vinci, of the Beatles and the Rolling Stones.  And this is the place where the vaulted ceilings of the Sistine Chapel and the towering spires of the great cathedral in Cologne, they testify not just to the greatness of our past or to a faith in God that inspired these marvels.  They foreshadow the wonders that await us in our future.  But only if we are unapologetic in our heritage and proud of this common inheritance can we together begin the work of envisioning and shaping our economic and our political future. Deindustrialization was not inevitable.  It was a conscious policy choice, a decades-long economic undertaking that stripped our nations of their wealth, of their productive capacity, and of their independence.  And the loss of our supply chain sovereignty was not a function of a prosperous and healthy system of global trade.  It was foolish.  It was a foolish but voluntary transformation of our economy that left us dependent on others for our needs and dangerously vulnerable to crisis. Mass migration is not, was not, isn’t some fringe concern of little consequence.  It was and continues to be a crisis which is transforming and destabilizing societies all across the West.  Together we can reindustrialize our economies and rebuild our capacity to defend our people.  But the work of this new alliance should not be focused just on military cooperation and reclaiming the industries of the past.  It should also be focused on, together, advancing our mutual interests and new frontiers, unshackling our ingenuity, our creativity, and the dynamic spirit to build a new Western century.  Commercial space travel and cutting-edge artificial intelligence; industrial automation and flex manufacturing; creating a Western supply chain for critical minerals not vulnerable to extortion from other powers; and a unified effort to compete for market share in the economies of the Global South.  Together we can not only take back control of our own industries and supply chains – we can prosper in the areas that will define the 21st century." ...
Wall Street Journal Original article ›
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Green Mountain's share price fell 48% on May 3, 2012. It has fallen 75% since fall 2011 after climbing fivefold in the last three years. The situation has changed for Green Mountain, the maker of the Keurig single cup coffee product, with two of its patents on K- cup coffee expiring and Starbucks plans to launch a high end espresso brewer. Green Mountain, based in Waterbury, Vermont, acquired Keurig Inc. in June 2006 for $100 million. Its Keurig single cup brewers and K cup coffee packs have taken the largest market share, with Kraft Foods Tassimo product struggling. Green Mountain continues to grow, with sales of Keurig brewers and accessories increasing by 21% and K- cup sales up by 59% in first quarter of 2012. Profits were up 42%. Investors and hedge funds are short selling the stock, or waiting for the price to decline, and a quarter of the shares traded are being "shorted," according to FactSet.
Wall Street Journal Original article ›
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THe GM restructuring that leaves the US and Canadian governments with control of 72.5% of the company, and unsecured bondholders with 10% of the company. The unsecured bondholders were offered warrants that could bring up their share of ownership to 20%, in return for forgiving $27 billion in GM debt. The UAW has the rest, 17.5% of the company, plus $6.5 billion in preferred equity and $2.5 billion in GM debt. The US government will commit $30 billion to GM in addition to the $20 billion already given to GM. ANd the Canadian government will give $9 billion. By taking a large share of the ownership of GM- at a time when the market for automobiles in the US is at 9.5 million vehicles and GM needs a 10 million automobile market to breakeven according to the restructuring plan- the government is implicitly taking on the responsibility for additional loans to GM till the market recovers.
BusinessWeek Original article ›
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Efforts by the new petroleum resources minister, Diezani Alison-Madueke, to increase Nigeria's oil quota, and pass a bill in Parliament to increase taxes on foreign oil companies to take a bigger share of profits in joint ventures. She is undertaking a government effort to allocate 10% of oil revenues to the Niger delta.
Wall Street Journal Original article ›
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Apple is in a quandary about what straegy to pursue in the large China market. Apple's pricing depends on its image of bringing in exciting new products. With growth slowing in iPhone sales and lack of new products like the iPhone Apple can go after the market of lower end smartphones to maintain growth. In that segment Apple faces strong competition from manufacturers who make products in-house and have the scale to compete effectively such as Samsung. Other manufacturers such as Lenovo are also surging in this part of the market. Sales figures for the smartphone market give some idea of the problem Apple faces. Smartphone sales for the industry slowed to growth estimated at 41% for 2013, compared to 136% in 2012. In 2014 IDC forecasts growth slowing even further to 17% and by 2015 the smartphone segment looks even less promising with only 12% growth. And much of this growth is likely to go to regional smartphone companies such as Lenovo Group of China, and other brands which are better at competing in the lower priced smartphone segment of below $100, say analysts. Apple sales were 7.9% of the smartphone market in China, Samsung had 15.4%, and Lenovo 13.1%, in the 4th quarter of 2012, according to IDC....
WSJ Original article ›
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Risk averse leaders are hurting the German economy with little or no growth in the last 5 years. See articles alongside. Anglela Merkel's debt brake inthe German Constitution and the attitude for debt brake of Lindner's FDP in the Scholz coalition since 2021 have led to underinvestment in public infrastructure. Merkel's lack of investment in digital technologies, overdependence on Russia for oil and China for markets during the decade in office are all leaving Germany in bad shape in 2015.

WSJ Original article ›
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Germany is struggling to deal with the 2.4 million asylum seekers entering the country since 2015. It is getting overwhelmed by the scale of migrants even though immigrants are needed in parts of the economy. In Austria and Poland new restrictions are being placed to stop migrant flow. Denmark has a socialist government that is restricting migrants from entering the country. Britain under Starmer and Labour has made cutting migrant flow a major priority, the Tories failure to cut migrants flow led to its defeat in 2024.

WSJ Original article ›
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Do not judge US UK relationship only by trade of $148 billion yearly. US companies invested $1 trillion in the UK in 2023, and UK companies invested $630 billion in the US. Both countries share a common economic, law and constitutional framework, and British settlers opened up a vast continent in North America by settling along the Atlantic coast from Maine to the Carolinas. It is this system that was adopted in India, Canada, Australia and other parts of English speaking countries of the world.

Wall Street Journal Original article ›
New York Times Original article ›
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Medtronic has gained about two thirds of the market share lost by Boston Scientific during its withdrawal of products from the market.
Wall Street Journal Original article ›
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Major decline in oil prices in Oct. 2014 as prices drop to $81 per barrel and are forecast to reach $70. U.S. oil production increased by about 56% or 3.1 million barrels a day since 2004. U.S. demand for gas and fuel declined 8% compared to 2004. Initially instability and wars in the Middle East sustained high oil prices in 2012-2013. Yet with growing output from shale and other sources in N. America and slowing economies of Europe and China, the situation reached a point in 2014 where supply exceeds demand. This shift more than offsets any instability in trouble spots. The situation affects the U.S. consumer favorably with an estimate of $1 billion in savings for American consumers with every one cent drop in price at the gas pump, by one estimate from Deutsche Bank analysts. Typical American families gained an extra $50 a month from the decline June to October 2014, according to analysts at Gasbuddy.com. The declines are a boost for the slowing economies of Europe, Japan, China, S, Korea and India. China's imports for 2015 are estimated at 61% of oil consumption, using official estimates. In the current slowdown the lower prices offer relief. India which imports 75% of its energy benefits signficantly, as this helps lower inflation and reduces cost of fuel subsidies for state run companies. Russia is adversely affected by the declines as it depends on oil and gas exports for 50% of the nation's budget. Estimates by AFK Sistema economists show the Russian economy contracting in 2015 with oil at near $90 per barrel (Brent crude is at about $85, and WTI at $81 in early Oct. 2014). Russia's former Finance Minister Alexei Kudrin reflects opinion among Russian executives and politicians, when he told state television that Saudi Arabia may be pushing prices lower to target Russia's oil resource based economy and Mr. Putin, in an effort to broaden the effect of sanctions. (The Saudis have strongly protested the Putin intervention in Syria.) Venezuela has used $120 per barrel and Angola $98 for its budget, leading to a strong hit for the economy. ...
New York Times Original article ›
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David Albright, a former weapons inspector in Iraq, says 24 days is enough time for Iran to wipe out traces of nuclear work, such as working with explosives to trigger a weapon or construction of a small plant to make centrifuges. A situation actually happened in 2003 when the atomic energy agency wanted to inspect the Kalaye Electric Company site in Iran in 2003, where Iran was using centrifuges received from Pakistan. Iranians removed all traces of illicit work at the time while delaying inspectors. This case was cited by Olli Heinonen, a former deputy director of the agency. Heinonen says smaller scale activity such as manufacturing uranium components for a nuclear weapon can be carried out and the traces deleted in 24 days. Senator Corker points out that the time allowed would be more than 24 days when all the time is added up correctly.
New York Times Original article ›
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Jesse Eisinger compares the public criticism and the response of two executives of major American banks- Dimon of JP Morgan Chase and Blankfein of Goldman Sachs. He says Dimon may come out looking better with his reputation in much better shape because of the changes he made at JP Morgan Chase after realizing that he had made faulty judgements. Dimon has now set the goal of putting JP Morgan ahead of the other banks in its risk management and working with regulators. Blankfein is seen as making only minor changes in the culture at Goldman and having overcome a wave of public criticism without significant change in the way the company does business. In the process Dimon will have learned more from the financial crisis and make improvements that will be good for JP Morgan in the future, an opportunity that Blankfein is seen as missing.
Washington Post Original article ›
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George Will points to the most important aspect of Scalia's legacy, that of putting down court opinions mostly in the minority, that could shape decisions by the court in the future. He says Scalia has provided a new generation of students of the law with the basis of future interpretations of the constitution, including chapters of the Federalist Society.

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