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Finland makes the decision to join NATO on May 12, 2022. NATO's land. border will increase from 1215 kilometres or 745 miles to 2600 kilometres. Sweden is expected to join NATO in a paradigm shift as it has been neutral for 200 years. Once Finland joins Sweden would be alone in the Baltic if it did not join NATO. Both Finland and Sweden have integrated their defenses and built up defenses at a time when other European states had not invested in the military. NATO Secretary General Stoltenberg has welcomed FInland and Sweden joining NATO.

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The 30 by 30 target agreed to by countries at COP15 in Montreal, the Montreal Kunming conference, commits to protecting and restoring 30% of the Earth's surface by 2030. China was an active participant and made the decision to put this target into the final document. Biodiversity is an essential and important part of the plan for climate change action. COP15 Montreal complements the work done at COP26 in Egypt. Countries will report on their progress to 30 by 30 targets every year. Also part of biodiversity targets is the reform of $500 billion in environmentally damaging subsidies.

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During a meeting with British prime minister Boris Johnson, German chancellor Olaf Scholz says Germany will stop importing Russian oil by the end of this year and stop importing Russian gas very soon. Johnson said Germany will stop importing Russian gas by 2024, and that a lot of infrasgtructure had to be put in place. He called the German decision a big one and said that he applauded the German decision which was a seismic one to move away from Russian hydrocarbons. Scholz said this would be permanent and that Germany would be 100% on renewable energy in 20 years.

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Images of 5 galaxies in the constellation Pegasus will be shown by president Biden at a White House event today July 11. The pictures are from the $10 billion James Webb telescope now 1 million miles from earth and looking back at distant galaxies from the beginning of time. The Pegasus constellation is a mind boggling distance away- 290 million light- years away.

NASA, the European Space Agency and the Canadian Space Agency have together developed the Webb telescope, that is 100 times more powerful than the Hubble telescope that was there before.

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This picture of Indian finance minister Nirmala Sitharaman picking out vegetables on a visit to the vegetable market and talking to vegetable vendors in Mylapore, Chennai, will be remembered for a long time for its casual feeling and simplicity. This is not just the Sitharaman as cabinet minister- this is also with Modi one of the proponents of the free rations food program that provided 5 kilograms of rice or wheat to 800 million Indians, with vegetables and lentil dhals, during the pandemic. This is what built the resilience of the world's largest section of humanity during the pandemic.

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WSJ's Kate Linebaugh talks to Pedro Pizzaro CEO of Edison electric utility company in California on the impact of president Biden's $369 Climate bill on California's energy needs. He describes what his company is doing today with the wild fires, and how the Biden bill will help the transition to renewables in a state that requires 100% renewables by 2045. His company Edison is at 35% renewables today. By 2045 energy use will increase by about 60% in California and he is looking ahead to that future.

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A warning written in wood. Scientists for years have looked at rings of long life pine trees to understand the earth and climate. This pine deep in the Sonoran desert started life about 200 years ago. The rings each tell the story through the industrialization of America, the destruction of native communities, the entry of Arizona as 48th state in 1912, the two wars fought and won. Only the ring for 2023 is different after scorching heat, it stopped growing midway, says this report in The Washington Post about climate change that is real in 2023.

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Jeanna Smialek and Jim Tankersley look at how people are expressing their dissatisfaction on social media about student loan forgiveness (#1.3 billion views TikTok), about the cost of living, about housing unaffordability, about the price of gasoline, and the term "vibecession" is present. Not enough people are aware of the efforts of president Biden in tackling these problems- for instance the Supreme Court struck down president Biden's plan to reduce student loan debt by $400 billion, that he has already doen this for $127 billion in the face of Congressional and Supreme Court indifference.

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Biden says the US Supreme Court has got it wrong on student loan relief. Yet he does not believe the solution lies in expanding the court or term limits for judges, says this report in WSJ. Biden looks at it from the perspective of the last 100 years not the way young people who only know the current court in their lifetimes. In that way he sees any such attempts at term limits or expansion would politicize the judiciary. It is something that is expected to get Biden the support of moderate voters for the 2024 election.

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During the Republican Senate campaign in 2022 to replace Pat Toomey, both candidates Oz and McCormick had assets over $100 million according to the Philadelphia Inquirer. This seat was won by Dan Fetterman, Democrat of Pennsylvania. The contrast between the wealthy and the middle class candidates and their distance from average Americans struggling to make a living was very clear, almost similar to the billionaire former president and the Harris-Walz Middle class candidates vowing to rebuild the American middle class atrophied from outsourcing of jobs overseas and wages falling behind cost of living for ordinary workers.

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The mutation of the coronavirus is found in over 1000 people in south east England. UK health experts say this mutation has a "transmission advantage."  Acceleration of the spread of the virus is of particular concern in December because of Christmas and the overcapacity in hospital beds and ICU beds already happening in California and the shortage of hospital beds seen in London and in Germany.

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Manufacturing and building plants related to Green energy is a better path for Nevada to meet the needs of the people of the state. Dependence on casinos and the hospitality industry has hurt Nevada. The Redwood Materials plant near Reno, Nevada, is an example of this effort. It is a sprawling 300 acre facility that recycles old smartphones and other discarded items into materials for electric cars and other products.

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The concerns that China was going to overtake the US and become the largest economy is a misconception of how countries have developed through industry and technology. Britain and the other countries of Europe, Germany and France, went through rapid development in the 1930's and 1960's then at some point after saturation were relatively stagnant. China for the first time in 250 years of the Industrial revolution began to develop rapidly and urbanize in the 1990's. China is at that same point of saturation and it's economy moving to relative stagnation with 4% annual growth in 2026-2030 and 2-3% annual growth beyond to 2047. India is taking place of China as parts of India (large states of Uttar Pradesh, Bihar, Maharashtra with population 500 million) can achieve 15-22% annual growth in 2026-2030. A quick idea of this can be seen here in the WSJ. China as a percentage of the global economy was 18.5% in 2021 and has since declined to 16.5% of the global economy in 2025. China was three fourth of the US economy when it peaked in 2021 and has since declined in 2025 to two thirds of the size of the US economy. As a percentage of the global economy China will go down to 12% over the next 5 years as India advances, and the population of US, Canada, Australia with their continental spaces continues to grow and with it GDP growth. This is validated from the Japanese experience of peaking at becoming 18% of the world economy by 1996 and then dropping by 2006 to about 11%, 2016 to 6% and 2025 to 4%. The combined effect is to reduce the size of China's economy as a percentage of the overall global economy at a point of time in the future 2030, 2040, 2050. Japan is a good example. There are other factors in play including technology and capital access as technology and capital shifts to other parts of the world where it can be better deployed and conditions are suited for rapid development as in India/Indonesia and in the US/Canada/Australia regions of 1.6 billion people and 450 million people from China (saturation overbuilding), the Middle East (wars and mismanagement). ...

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BJP Modi election win in West Bengal and upset by TVK party in Tamilnadu states of India are a result of existing state governments not meeting the aspirations of young people in India for jobs, lack of progress in industrialization and lack of investment in infrastructure. These are the pressing priorities in India. Whoever can deliver on modernization and industrialization, jobs and infrastructure to meet the aspirations of the Indian people is likely to prevail. This is also no different than the process underway in the US and Europe for reindustrialization and remodernization, updating infrastructure built in the 19th century, jobs and incomes. The BJP party of prime minister Modi has set the bar high for modernization of the scale of China and Japan for India, and to even surpass them.  It is definitely doable, particularly now that India has built trade links for import of new technologies with the US and the EU, and when it is already an economy the size of Germany or Japan. Most of the Opposition parties cannot believe this is possible, and most of the media that covers India has the same views. As a result the titles and the discussion in the media are like that of 15 years back when India was led by parties that lacked the will and drive for industrialization and modernization, corruption and mismanagement dissipated resources, could not create the master plan and execution needed,  and lacked the leaders at the ministerial level to accomplish this to deliver on every promise. In fact the elections of the last 2 years have created a new northeastern India - changed the map completely with the growth in a region half the size of the European Union of 300 million people that is able to grow at 20% a year for 10 years in Bihar, West Bengal, and Orissa, Assam regions, where the mighty Ganges and the Brahmaputra rivers flow into the seas from the Himalayas. There is that much potential and it means India itself can grow at rates of 10% once all the conditions are right in a few years to 2047 for Vikshit Bharat, Modernized India. The world economy can also grow with such a vibrant dynamic India. ...

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After segregation in housing and schools since the 1867 Lincoln Emancipation, particularly in the US Southern states, protests happened in the South led by Martin Luther King Jr. to change this. situation. Voting Rights Act 1965 signed by LBJ ensures right to vote for Black people in the South- it follows protests in Selma Alabama and LBJ's 1965 "We Shall Overcome" speech that followed Selma. The first Blacks elected to US Congress were from seats redrawn to give Andrew Young a seat in Atlanta, and Barbara Jordan one in Houston. In 1993 2 more seats were added. James Clyburn was given a seat in South Carolina- he was a key supporter for president Joe Biden. Others followed. Today in 2026 there are 62 Black Members of the US Congress. This is about 11.6% of the 435 seats in the House of Representatives and 100 seats in the Senate total of 535. As a percentage of the population Black people are 16.4%- or 56 million out of US population of 342 million. The Supreme Court is essentially saying it is time to pause this as enormous progress has been made 12% out of 16% already achieved in representation for black people in the US considering the other inequities in American society, the changes in culture and in technology, inequities in world trade and for rural America. In a 2013 5-4 decision Shelby vs Holder US Supreme Court  swing to this conclusion with Alito, Scalia and Thomas joined by Kennedy and Roberts. This already struck down the core of the Voting Rights Act as unconstituional. Roberts wirties in that decision- Our country has changed,” Chief Justice John G. Roberts Jr. wrote for the majority. “While any racial discrimination in voting is too much, Congress must ensure that the legislation it passes to remedy that problem speaks to current conditions.” Times have changed - in 2026 the Court reaffirms this. In Louisiana vs. Calais the Court voted 6-3, striking down the last aspects of the Voting Rights Act, because white voters in Louisiana objected to use of race to redraw districts. The equal protection clause of the 14th and 15th Amendment to the US Constitution prohibit using race to redraw political representation maps. ...

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Most of the media has failed to cover this aspect, yet the Collective agreement is a big, a huge plus on June 17 2026 at the G-7 Summit (G-9 expanded with India and Brazil). There was discussion and effort to convey different points of view which was an healthy aspect of this G-9 meeting in Les Bain, France, near Geneva. German chancellor Merz described the atmosphere as very constructive with lots of open thoughtful discussion- "This is the ​first ‌time since [US] President [Donald] Trump took office that we ‌have issued a joint ‌declaration ​at a G7 summit and found common language on the major ​foreign and security policy issues of our time. ⁠I ​consider that ​a real success."  "This ⁠sets a new tone, including ⁠regarding ​trans-Atlantic unity and resolve." Merz says all issues on the summit agenda were talked about "very openly" and "very constructively." Merz  says he will support a peace deal in the Middle East, including a possible military mission if there is "a lasting ceasefire."  A series of "preconditions that are not yet fulfilled, so there is no immediate hurry." What this means, as most of the media has failed to cover this aspect including NYT, WSJ and Washington Post, is that the US and the EU, India and China, Brazil, the poorer countries  Egypt, Pakistan, Turkey, are now in a lot better positions, coming at it from different angles,  and are all aligned for their own interests, to push hard to support the US effort to get to the Memorandum of Agreement with Iran, and future settlement in Ukraine. The onus is for Iran and the entire Middle East to collectively come to an agreement to live with harmony among the neighbors for the mutual interest- including a nuclear free Middle East that is in their mutual interest- so that the rest of the world's people, a massive 5 billion compared to 500 million in the Middle East can industrialize, modernize, and make economic progress that benefits all the people of the world. ...

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Honda plans to build a new plant in the midwest, with an investment of $400 million. The new plant is likely to make Civic compact cars and the new Fit subcompact. The Fit will be a new hybrid deisgned to compete against Toyota's Prius. Honda opened its minivan plant in Lincoln, Alabama in 2001, and prior to that a new assembly plant opened in 1989. Honda sales grew 5% in the last year. The new plant would bring 13% growth by 2008.

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India moves ahead with the the purchase of $5 billion S-400 long range surface-to-air missile system from Russia durinf president Putin's visit to New Delhi. Delivery of 5 of the systems will take place over 2 years. India hopes to have a transaction specific waiver for the purchases as the U.S. is placing sanctions on defense purchases by countries from Russia. U.S. sanctioned China in September 2018 for its purchases of 25 Sukhoi jet fighters and S-400 missile systems from Russia.

India has set a goal of diversifying its arms purchases. From 79% of arms purchases sourced from Russia, the figure dropped to 62% in 2013-2017 compared to the preceding 5 year period.

India and Russia have set the goal of expanding bilateral trade from current $10 billion in 2017 to $25 billion  by 2025. 

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Storm Ciara and its jet stream effect at 260 mph made it possible for a flight from New York to London to reach over 800 mph. The British Airways trans-Atlantic flight made it in 4 hours 56 minutes, 80 minutes ahead of schedule setting a new record.

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The success of the 9 euro rail pass introduced in Germany in increasing rail use and reducing pollution and congestion on highways is described here in The Guardian. For 9 euros one could travel throughout Germany on Deutsche Bahn rail network for one month in June, July or August.  Less traffic congestion and better driving times in 23 of 26 cities in Germany, and a jump in short journeys by rail between 30 kms and 100 kms, and between 100 and 300 kms, are shown here for Germany.

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Three factors make up risk in diversification and risk reduction through bonds in 2025 with the estimated 1.5 -3 trillion in spending planned by 2030 with $400 billion in 2025 alone. AI in corporate bond indexes up to 15% and reach 20% by 2030 vs 40% of stock indexes (JP Morgan),  AI risk in bonds diversification from over issuance and downgrades is something to look at. One cannot assume bonds will reduce risk in the same way as before with overissuance of corporate bonds to power AI spending by Tech companies. There is also the risk to the Nation in the massive capital misallocation of funds that will crowd out essential spending in the crumbling infrastructure of the Nation, in education and healthcare, that degrade American leadership in industry, science and technology.

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NYT on Vietnam in 2025- 100 million people forging a new future.

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Rappaport of the NYT asks how it is possible that the U.S. Treasury is critical of the EU Commission's ruling that Apple pay back $13 billion in taxes because of its low tax rate of .005% in Europe, when Treasury is strongly critical of tax avoidance. The negligible tax by Ireland, base of Apple operations, is seen as a state subsidy not available to competitors. It also, as the EU Commission says, does not correspond to economic reality because the revenues are mostly made outside Ireland. An arrangement that is basically a strategy of tax avoidance. Today the leading candidates for president, Trump and Clinton, the major parties, and Congress, all are critical of tax avoidance strategies which deprive Treasury of much needed revenues. Restoring upward mobility is a priority today and programs to provide tution free access to public colleges, healthcare access, and infrastructure development, require public funding. Then why is the U.S.Treasury critical of the EU ruling? It is because Treasury sees this as money that should be coming to Treasury not the EU. However Treasury has failed to make this clear. The Financial Accountability and Corporate Transparency Coalition's Clark Gascoigne, calls it very ironic. And other experts say the money would not be coming to the U.S. anyway unless a low tax rate induces Apple to repatriate profits to the U.S. One expert calls it hypocritical. Senator Schumer says he agrees with Paul Ryan that tax legislation for a low tax rate for repatriation of profits back to the U.S. should be the next step, so that an infrastructure fund can be setup. Senator Levin and transparency advocates sees the EU action as normal and to be expected, as the anti-establishment sentiment today comes from such dealings that create the impression that the system is rigged in favor of some corporations. ...

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Yahoo CEO Marissa Mayer launched a series of acquisitions after becoming CEO in 2012. Tumblr was acquired for $1 billion. Yahoo has disclosed in a regulatory filing that it plans to write down the entire value of that acquisition. A number of other acquisitions have also failed to deliver value as Yahoo struggles in ad revenues- mobile ad revenues for Yahoo in the 1st quarter of 2016 were $250 million compared to $4.5 billion or 17 times that for Facebook. Yahoo has 200 million visitors each month, but its display ads are not strong on mobile and its mobile apps have not done well with users. As advertising shifted to mobile Yahoo stumbled badly. The failed acquisitions investment could have been better utilized in retaining talented mobile engineers, but Yahoo's CEO resorted to cost cutting when the strategy of looking at consumer trends for news content through digital magazine investments failed. As a result Yahoo suffered from slumping morale and a brain drain.

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Tumblr is a microblogging site with about 100 million users but very small revenue of about $13 million. Yahoo is acquiring Tumblr in a $1.1 billion all cash deal. Tumblr was started by David Karp in 2007, has 175 employees, and is based in New York. Tumblr made it easy for users to create blogs and post comments, photos and videos, and Tumblr users can follow other user's updates in the manner of Facebook users following their friends in social media. It has 108 million blogs and 117 million users worldwide, according to comScore Inc.