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David Reilly says the Fed's response to the large volatility in the stock market after the credit downgrade of the U.S. to AA+ makes sense. The Fed's Open Market Committee voted 7-3 on August 9, 2011, to keep interest rates exceptionally low till mid-2013. With credit markets working and the financial system having sufficient liquidity the Fed did not need to take drastic action. Coming only a short period after the end of QE II, a QE III could be seen as an over-reaction. Another reason for the Fed's action- more pressure was needed for the U.S. government and Congress to shoulder responsibility for the economy. In an earlier statement the Fed had pointed out that the Fed by itself can only do so much and this is consistent with that thinking. There are important headwinds from housing, large consumer debt, deficits, and high unemployment that the Fed alluded to in that statement that will take time to reverse with policy action on several fronts over a longer period. In the speech made on June 6, 2011, U.S. Federal Reserve chairman, Ben Bernanke, said "monetary policy cannot be a panacea."...

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iCET Initiative for Critical and Emerging Technologies is a new program that was agreed to between president Biden and prime minister Modi at the Quad Summit in May 2022. It has the focus of building the US relationship with India for advanced and emerging technologies in the competition with China, and also as a way to expand India's role in the US and EU supply chain arrangement. Its first inaugural dialogue happened this week between Jake Sullivan NSA for the US and Ajit Doval NSA for India. The goals of iCET are To seek to build supply chains which increase co-production and co-development between the countries  To increase linkages between the countries startup ecosystems To broaden defense innovation and technology cooperation To build resilient semiconductor supply chains  Space cooperation STEM talent Next generation 5G and 6G telecommunications cooperation The US will speed up approval of GE Engines making of engines in India for light combat aircraft manufactured in India. ...

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Under a landmark ruling by a federal court in Leipzig, German cities can now ban older diesel engine vehicles. The cities of Stuttgart and Dusseldorf are allowed to legally ban older higher polluting diesel cars from zones that are badly affected by air pollution. Environmental group DUH brought the lawsuit after 70 German cities exceeded European Union limits for nitrogen oxides (NOx) in 2017. NOx emissions can cause respiratory disease and difficulty breathing. Diesel engines produce high levels of nitrogen oxide, and low levels of carbon dioxide. EU air quality standards are not being met in cities across Europe, so that this could set a precedent for Europe, says the BBC. Of the 15 million diesel cars on German roads only 2.7 million meet the latest Euro-6 standards, according to German automotive watchdog agency. Diesel car market share is dropping- falling to 39% in 2017 from 48% in 2015. The VW diesel emissions scandal in 2015 further eroded public confidence. The German government already has suggested alternatives such as offering free public transport in cities with poor air quality. The government opposed the ruling because it did not want the car industry to bear the additional cost of retrofitting older vehicles at a time when German carmakers were investing in electric vehicles.  Yet the trend is clear. Paris, Madrid, Mexico City, Athens have pledged to ban diesel vehicles from the centre of cities by 2025, with Copenhagen doing this in 2019. ...

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This New York Times editorial says a smaller Wall Street and growing jobs in other fields will be good for New York as well as good for the country. It says New York politicians should focus on finding new ways for New York to broaden its tax base and get new businesses and new opportunites in fields such as media, advertising, entertainment, health care and tourism. Especially welcome are initiatives such as the science and tech campus of Cornell University promoted by Mayor Bloomberg. Tighter financial rules and higher capital requirements are good for the country and for New York the editorial emphasizes, because they help control reckless banking practices that destroy capital and opportunities for growth elsewhere in the economy. It points to Kevin Rose's Nov. 21, 2011 account in the Times showing a healthy culture shift in New York and the country with the status jobs being seen not at Goldman Sachs but at Google, Apple and Facebook. Rose's account shows that in the last 3 years the number of Wall Street employees of ages 20-34 declined by 25%....

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Inflation in the European Union is being pushed up by higher profit margins of companies as they push up prices. Wage pay rise is only part of the problem, says Mr. Panetta, an executive board member of the ECB. Profit margins at public companies in the eurozone were pushed up from 7.2% in 2019 before the pandemic to 8.5% for the year through March 2023. A similar situation exists in the US. Companies could be increasing prices to make up for input price rises, anticipating future price inceases, or with market power to take advantage of  the situation, says Panetta. Panetta says his job on the 6 member executive board team of ECB is to look at all the causes of inflation. He has found sectors where even when input prices are decreasing profit margins and profit are increasing, a cause for concern. At a conference in Frankfurt last week Panetta pointed out that about half of the pressure for inflation came from wages, the other half from rising profits. In Europe wages rise is slower than in the US. It is also seen that market power of European companies was higher than in the US last year.  ...

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The dangers of crypto currency have not gone away says Eswar Prasad of Cornell University. Crypto currency companies have simply joined the bandwagon for acceptance using the two political parties into the 2024 elections, he says. He calls this a cynical bid by political parties for Silicon Valley cash and young voters. If anything he says the risks are greater today. Sam Bankman and FTX scandal are just the tip of the iceberg of these risks.  Prasad says not to be fooled. China, India and Japanese governments have kept crypto at a distance because of the dangers inherent in a currency that cannot have the backing of the central bank. Prasad says that crypto itself still has dangers of speculation, financial engineering and outright fraud. These dangers can then spillover into traditional banking and financial markets. The information technology that crypto has used is already being used in traditional banking so that this is no longer something that is characteristic of crypto just something that it has been using. This is a scant regulated market and crypto companies like tech companies in social media that threatens education and democracy through misinformation want to keep it that way.   ...

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Republican Speaker Johnson is setting Saturday April 20, 2024 votes in the US Congress for Ukraine-Israel aid in a weekend vote, as Israel and Ukraine face growing threats. Basically the bill Democrats passed in the Senate gets split up into 3 parts for that $95 billion in aid bill to be voted on individually for each part separately for Ukraine, for Israel, for Taiwan. A fourth bill would be for Ukraine aid as a loan, and a measure leading to national ban on TikTok.

"We're not the world's policeman, but we are going to do the right thing. And I think Congress is going to take an important stand."

"We have improved the process and policy. Every member of Congress gets to vote his conscience."

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At the height of the Eurozone crisis in December 2011, David Brooks points out that it is important not to forget what the Germans are saying in this crisis. They are arguing for truth in accounting, which the government in Greece failed to do, and which may have more to do with negative opinion in the media and with the public in Germany about Greece than any other factor. They are arguing against speculative excesses that enabled Greece to borrow recklessly. And they are making the argument that the only way to put the finances of the eurozone on a sound basis is to have the financial discipline that is necessary for a sound currency. Anthony Faiola pointed out recently that one estimate for tax evasion in Italy is $340 billion a year- Washington Post, 11/25/2011. Greece has a similiar problem, which needs to be addressed. This view has credibility and the backing of every principle of sound financial practices, irrespective of country or region. For ordinary Germans who have gone through years of wage restraint during the period of high unemployment, their attitude is captured in one German workers response to Greece's situation - when she said there are "poor children in Germany also." Years after reunification were a difficult experience for Germany, and left parts of the country still affected by the experience. The period of high unemployment is still a fresh memory, as the economic recovery is fairly recent. There is a feeling that the situation is precarious, depending on exports, as the 2009 downturn showed. These facts remain even when one considers the criticism levelled at Germany. Germany benefitted from the bubble in the economies of Southern Europe through surging exports- from a currency that was undervalued in relation to neighbors- because of the common currency. German banks lent heavily to Greece, Ireland, Italy, Spain, and Portugal, along with French and British banks, and bear responsibility for reckless lending and not doing due diligence for loans to Greece and other countries. Germany also carries the burden of memories of hyperinflation in the 1920's, and the sense along with France that partnership is necessary for peace in Europe. Germany's position on austerity measures also has one underlying weakness - if this leads to shrinking economies in southern Europe in the name of fianncial discipline, then the plan fails as tax revenues decline and budget deficits increase. Given this experience Germany faces the challenge of convincing neighbors of the need for good governance and sound spending practices for long term stability of the currency, even as it leads the effort for providing short term funding. In the short run this reaps criticism for Germany, including criticism for some members such as Greece having to leave the euro as a way to regain competitiveness and growth. Experts have suggested that this would be a better option for Greece than a shrinking economy after strong austerity measures, and the referendum proposed by former prime minister Papandreou on strict austerity measures is likely to have gone in this direction. ...

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Close to half of the respondents in the 2010 Annual Survey of the American Chamber of Commerce in Shanghai, say that they face regulators who show a preference for domestic companies. About 80% of respondents said their operations were profitable in 2010. In 1999, 58% of Shanghai members of the chamber said their profit margins were below worldwide levels. In 2010, 78% said their profit margins matched world levels. Just under half of the respondents said they feared a negative impact from China's effort to build "indigenous innovation" and encourage domestic champions in each industry. 63.1% of respondents say regulations are getting worse or staying the same. Chinese President Hu on a state visit to the US in January 2011 is presenting the idea of a level playing field for American companies.

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Reagan words taken out of historical context by Ontario ad- Lighthizer as Reagan's USTR negotiating with Japan experienced Japan's efforts to unfairly capture world markets. It was only after years of negotiation that Lighthizer was able to get Japan to play by fair rules of world trade. In 2025 Jamieson as US Trade Representative for the US is Lighthizer's deputy in prior negotiations with Asian trade partners who have unfairly gamed the system to their advantage. Canada, Mexico and China are misrepresenting the facts to show they play by the rules when they clearly and blatantly flout world fair trading practices that lead to losses for American workers. The reality is that the Smoot Hawley tariffs by the senators of states that were not industrial states in the US inthe 1930's were adopted by the reckless atitude of Herbert Hoover as president and by senators who had no grasp of world trade. Senator Harry Truman from Missouri as president made correcting these mistakes a top priority in the late 1940's. Today's abuse of the system by Asian countries and Canada, Mexico have nothing to do with the tariffs of the 1930's- America wants all nations to play by the rules which over time will create a stronger world trading system. ...

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U.S. Federal Reserve chairman Bernanke, says the Fed will keep interest rates low till unemployment reaches 6.5%, as long as inflation remains at about 2%. If unemployment reaches 6.5%, and this is because more people are dropping out of the labor market, he will take this into account. If unemployment stays high the Fed indicated in its statement that it would tolerate a higher inflation of 2.5%, as long as the longer term outlook was for inflation to be at 2%. Bernanke said this doesn't mean monetary policy is on autopilot, because the Fed will watch conditions carefully and will leave room for flexibility- keeping an eye out for new asset bubbles that could develop, and monitoring labor market conditions and inflationary pressures and inflation expectations. If inflation falls well below 2%, or unemployment rate falls mainly because of people dropping out of the labor market, the Fed may continue to keep interest rates low. This policy was announced as U.S. fiscal cliff deficit negotiations continued in Dec. 2012 with one scenario being considered by both political parties being going over the Jan. 1 deadline before coming to an agreement. Bernanke pointed to this, saying "this is a major risk factor right now." The Fed's activist policy in economic policy has given financial markets and business a measure of stability not provided by government and Congress. Fed policy is to buy $40 billion of mortgage securities, and $45 billion of long term Treasury securities for each month in 2013. It will fund the purchases by adding reserves to the banking system, which is to say that it will print money to buy more bonds. This is a major decision by the Fed in that the Fed has shied away from unemployment targets in the past. Bernanke described this action as a new"automatic stabilizer" in the U.S. financial system- if unemployment rises investors know this pushes the Fed's interest rate increases further down the road and would drive interest rates down, if unemployment drops sooner than expected, investors anticipating Fed's rate increases would drive long term interest rates up, to keep stable growth....

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Bridget Phillipson and Keir Starmer are politicians who would like to get things done and take ideas from all sides in the effort to improve life for British parents and children. See the article alongside on the changes proposed by Phillipson and Starmer to bring better education to all schools, and keeping the best of the Academy system- just spreading the best to all parts of the country.  Zoe Wiliiams had this interview with Bridget Philipson in The Guardian, March 21, 2023, when she was UK Shadow Education Secretary with big plans to revive childcare and children's education in UK schools. Phillipson is now Education Secretary and is getting a bill passed in Parliament to improve some aspects of the British education system keeping the infrastructure and foundations that are delivering well. Phillipson grew up in a dilapidated northeast England neighborhood in Tyne and Wear. She describes this as a place with an air of decline with a railroad track and idled chemical plant in the area, high youth unemployment. He mother and her grandparents provided a caring home and signed her up for drama lessons on Saturdays. She attended Catholic school and went on to study at Oxford University in Modern Languages and Modern History, returning to work for Sunderland City Council for 2 years instead of going to London. She is seen as self-effacing but vigorous in putting forward ideas on better childcare and children's education for British children.   ...

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Wall Street Journal reporters Walker in Berlin, Forelle in Brussels, and Meichtry in Rome, reconstruct the events during critical days after the indecision and failure to reach agreement during the July summit of eurozone countries. This took the form of intervews with leading players and over 25 policy makers. What emerges are accounts of how Germany's Angela Merkel, daughter of a Lutheran pastor, and protege of Eurozone founder, former German chancellor Helmut Kohl, handled the crisis. Merkel was widely criticized in the media for indecision. What emerges is an account of a leader who took decisive action at key moments in the crisis- leading to the formation of new governments in Greece and Italy taking action to improve finances, and negotiations with banks represented by the International Finance Corporation leading to acceptance by banks of a 50% loss on loans to Greece to reduce Greece's unsustainable debt burden. Merkel also worked with the European Central Bank's departing president Frenchman Claude Trichet and new president Italian Mario Draghi to resist French president Sarkozy's efforts to have the ECB assume responsibility for the crisis through large scale buying of Italian and Spanish bonds; which was opposed by German public opinion as a backdoor way of having German taxpayers assume responsibility for European debt. Shown are three critical moments when Merkel intervened. In October 2011, after Italian prime minister Berlusconi reneged on promises to make pension and other reforms to improve Italian finances because of political resistance. He survived a parliamentary no-confidence vote by one vote. Merkel took the lead on October 20, by directly calling Italian President Georgio Napolitano on the phone, to urge him to take action for forming a new government in Italy. The result was Napolitano talking with all political parties to form a new government, leading to the formation of a government by a non-political figure respected in Italy, former EU commissioner Mario Monti. A day earlier, on October 19, French President Sarkozy met ECB president, Trichet, at an event honoring him as departing ECB president in Frankfurt's Alte Oper concert hall. Trichet, Merkel and Sarkozy met in a side room. Sarkozy asked for decisive help from the ECB for large scale buying of Italian and Spanish bonds to lower yields, which had reached 7% on Italian bonds. Trichet responded that the ECB's charter did not allow it to finance governments, with the meeting ending in a shouting match between the two leaders. On October 21, EU and IMF inspectors warned that Greece's debt was reaching unsustainable proportions and austerity measures alone would not work, unless the bondholders, the European banks, took losses of 60% on their excessive lending to Greece. At this point France agreed to the German position arguing for this level of bondholder haircuts or losses, fearing the prospect of large future bailouts that would jeopardize France's triple AAA credit rating. The July 2011 summit accord had only provided for 10% in losses for bondholders. On October 27, at a meeting that went past midnight, Merkel and Sarkozy called IIF head Charles Dallara, who headed negotiating for the banks, to EU headquarters in Brussels. Merkel handed Dallara an agreement containing the 50% bondholder loss demand, and told Dallara- "This is the last offer." Merkel was saying banks would be left with nothing if they rejected it and Greece defaulted. Dallara called bankers and the IIF accepted Merkel's agreement. The final moment that October came on October 31, when Greece's prime minister Papandreou said he would call a referendum on the bailout provisions and austerity measures demanded by the IMF, the EU and the ECB. Bond markets reacted negatively to the announcement fearing a rejection and a Greek default. The Group of 20 leaders was meeting in Cannes, France on Nov. 2, 2011. Papandreou was asked to come to Cannes for a pre-summit meeting. Here Merkel told Papandreou- "the real question" for the referendum was, "Do you want to be in the euro, or not?" Days later Papandreou, lacking support in Greece from political parties and opposition inside his party, submitted his resignation. A non-political figure respected in Greece, former ECB vice president, Lucas Papademos, was appointed prime minister to head a Unity government. Polls after the appointment showed three fourths of Greeks said that this was "a positive step for Greece," with Papandreou's party getting only 11% support and the opposition led by Samaras about 20%. The criticism leveled at Merkel is that Germany should take responsibility for debt throughout the euro area through the issuance of eurozone bonds or the ECB buying large amount of bonds of Spain and Italy. Merkel faced strong opposition inside Germany and from the Bundesbank to this idea. The other criticism was based on austerity measures worsening the finances of Greece because of a lack of growth in the economy, which is true; yet Germany may see the situation in Greece as taking a long time to be resolved in any event because of excessive and faulty financial management. For Italy and Spain putting finances in order was a necessity, and austerity measures should lead to short term sacrifice but improve prospects for the long term by returning the economies to growth. Another criticism is the installation of governments that lack popular or electoral support. As the polls in Greece showed the Unity government there has far greater support and public opinion blames the politicians for the huge mess. In Italy, Berlusconi was widely seen as losing popular support when he resigned. And in Spain Mariano Rajoy, the newly elected prime minister, was elected with a huge majority in parliament following winning in local government elections. Merkel also held her own party, the Chrisitian Democrats together at the recent Leipzig convention. Mario Draghi, was elected with German support to head the European Central Bank. He has long argued for better management of Italian finances as head of Italy's central bank. Draghi was able to support Merkel with carefully planned and managed actions. First to reduce interest rates to support economic growth in a slowing eurozone. Following this with the ECB's Long Term Financing Operation in late December 2011, to provide unlimited loans to European banks at 1% interest for three years in exchange for a broadened list of collateral deposited at the ECB. In a final twist in this drama, Charles Dallara, who was a key negotiator for the U.S. Treasury in setting up the Brady Bonds- that converted bad Latin American government debt owed to U.S. banks in the 1980's into long term debt with large reductions in principal owed and lower interest rates. This was in exchange for guaranteed repayment with 30 year U.S. zero coupon bonds. Dallara was now a negotiator for the banks to reduce the chance of the very same bondholder haircuts that he had negotiated in an earlier period to solve the Latin American debt crisis. Other players in the drama were Axel Weber, head of the Bundesbank, Germany's central bank, who resigned after strong and outspoken opposition to the ECB's large scale purchase of bonds of Greece, Italy and Spain. Jens Weidmann, his protege, who replaced him. And Jurgen Stark, German representative at the ECB, who also resigned in opposition to Germany assuming responsibility for eurozone debt. ...

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Brett Arends cites several factors for his skepticism about the 4th quarter 2010 US stock market rally. Cyclically adjusted price to earnings ratios that are 75% above their average value. A market value for US equities excluding financial stocks, that is within 15% of the October 2007 peak. Fed data that shows nonfinancial corporations have debt of $7.4 trillion at the end of the third quarter 2010, an increase of $250 billion in one year, and up from $5.5 trillion in 2005. This Fed data shows the debt for nonfinancial US corporations is 58% of their net worth, up from 41% five years ago. US consumers are still have the kind of debt burdens they had in 2008, with US households having reduced their debt by only about 3.5%. Arends says the leveraging is through the roof when you add up the debt that government and corporations have run up. Total debt has risen to $36 trillion, up 15% from the fall of 2007. He cites other experts who were right for the last decade who are skeptical this time- Rosenberg at Gluskin Sheff, Albert Edwards at S.G. Securities, John Hussman at Hussman Funds. The latest analysis by Jeremy Grantham at GMO is that large cap US stocks are not likely to beat inflation by much over the next 7 years. Arends has not mentioned global risk indicators such as the asset price bubbles developing in emerging markets, and the sovereign debt restructuring needed in debt burdened countries of the European Union. Analysis by the Economist in year-end 2010 points to the diverging directions of austerity in Europe, spending in the US and asset price bubbles in emerging markets, as a disturbing sign for 2011-2012. Risks in the US that Arends has not mentioned include problems in housing. Nouriel Roubini sees problems in housing in 2011. ...

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India is expected to become more urbanized by 2030 with people living in cities growing from 285 million in 2001 census up to 590 milion, producing 70% of national income. This means issues of climate change are not just about the environment- they are development issues and how to find better ways to plan future low-carbon infrastructure from the early stage. Also learning lessons from the chaotic development in China that in the rush for development allowed the air, water and environment to be hugely polluted.

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Orlik reports that the link between China's GDP growth and lending has broken down as credit expansion is accompanied by slowing growth. Slowing credit growth and lowering GDP growth even further is the price China's ecnomic planners are willing to take to forge a new path of sustainable growth, increasing efficiency of investment and increasing domestic consumption. The ratio of China's credit outstanding to GDP has jumped to about 180% in 2012 from 123% in 2008. Rapid expansion of credit is one of the danger signals before a crisis according to the IMF. Turkey and China are facing danger signals according to this IMF danger indicator.

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Intel is expecting 8-10% growth in its forecast for unit PC shipments for 2011. For the second quarter 2011 revenue of the Intel PC unit increased by 11% from the prior year. Two factors are enabling this growth. PC shipments in emerging markets are growing fast, with increases of 70% in Turkey and Indonesia in the second quarter. Profit margin is at 60.6%. Third quarter revenue growth was given by CEO Otellini at $14 billion, and the total revenue for 2011 is expected to show growth at the mid-20% range.

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The skills to navigate different personalities and work patiently on the issues surrounding changes to the U.S. tax system of Rep. Dave Camp (MI), chairman of the U.S House of Representatives Ways and Means Committee, will be immensely useful in the effort to make changes to the U.S. tax system. Camp works well with fellow House Republican leaders Boehner, Ryan, Cantor, and his Democratic counterpart in the U.S. Senate Max Baucus. Camp is a good listener, refuses to engage in partisan criticism, and has the patience to work through difficult issues of achieving savings and keeping fairness in the the tax changes. Earlier efforts to achieve consensus in late 2011 failed, making it even more important to have leadership which can create productive debate and bridge the differences. The tax changes are part of the overall effort for U.S. economic recovery by reducing the deficit.

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On April 21, 2022, US president Biden talks to Americans in a live television address and says US will send an additional $800 million in military assistance to Ukraine. And an additional $500 million in economic assistance that takes the total economic assistance to $1 billion. He asks Congress to approve additional requests so that an uninterrupted flow of aid to Ukraine can be maintained to deter Russian aggression. He also opens up a path for direct entry into the US for some of the 5 million Ukrainian refugees. He calls attention to the 5 million refugees and to the millions of displaced children. He says about two thirds of the children in Ukraine are displaced by the war which he found to be shocking.

Biden said "you've got to admit- be amazed at the courage of the country, and of the young men and the young women." 

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The difficulties Microsoft is having in integrating Skype into its products even as the use of Skype increases by 26%. This is similiar to the situation EBay faced when Microsoft acquired Skype from EBay in 2011. Skype users are now estimated at 250 million Microsoft has given Skype management special autonomy with its head offices and president Bates located in Silicon Valley. Microsoft CEO Ballmer say it is importaant that Skype work well on all platforms and devices.

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Polls by Renato Mannheimer show popular support for the People of Freedom party of Mr. Berlusconi, which won 37% of the vote in 2008, is now down to 17% This comes after a series of corruption scandals. The most recent involves embezzlement of 1.7 million dollars by a politician from the Rome-Lazio regional government. New parties are being formed which are drawing increasing support. The Five Star Movement of Beppe Grillo, a former comedian, which opposes being in the eurozone and calls it a "noose" for Italy shows 18% support, according to a poll by the SWG agency. In that poll the Italy of Values party had 6% support, and the Left Ecology party 6%. Mannheimer says only one third of Italian voters are now in favor of the large established parties, indicating a big change is underway in Italian politics. The new parties are also critical of prime minister Monti's policies. This happens just as political and business leaders in Italy are calling for Monti to run for office to continue policy changes he has made to improve Italy's competitiveness and lead to economic recovery. Monti, a former EU Commissioner, was appointed as prime minister after pressure from German chancellor Merkel and the EU led to a loss of parliamentary support for Mr Berlusconi with key members of his own party defecting. After passing legislation for changes to Italian labor laws and making other shanges to improve Italy's competitiveness since taking office in November 2011, Monti is now seen in Italy, and outside Italy in EU circles, as the only person who can lead Italy out of the economic crisis; even though his reforms and austerity measures have not proved popular....

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Kyodo News poll shows over half of voters under 40 years voted for Sanseito and Democratic Party of the  People, two nationalist parties started in the last 5 years. These parties base their appeal on "Japan first" and reject the idea that Japan should have to bring in so many foreign workers to run its industry and economy. They also oppose the country's quiet neighborhoods being overrun by the 40 million tourists in 2024 that the government wants to increase to 60 million to support small businesses that depend on tourists. Half of voters over 60 years vote for the LDP, and this is true also for the socialist party the Constitutional Democratic Party of Japan (DPJ) which is the opposition party. This makes the nationalist parties a new voice in Japanese politics. Part of the resentment in Japan is that figures like Shigeru Ishiba. the leader of LDP, are from an older generation that has for the 75 years since 1950 excluded others from party politics. The DPJ was around for just 24 months in Japan in 2009-2010 when its young leader prime minister Yukio Hatoyama was ousted. American leaders and it's party politics establishment before 2016 also encouraged this, with Obama making Okinawa an issue over which Hatoyama was ousted rather than work with the young Japanese prime minister. ...

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AstraZeneca PLC showed a net profit decline of 8.3% in fourth quarter 2011, on sales that remained stable at $8.66 billion compared to $8.62 billion in the prior year quarter. AstraZeneca is facing competition from low cost generics and cuts in government health care spending similiar to the rest of the industry. The company has announced new job cuts of 7,300 job for 2012, which brings total job cuts to 30,000 for the last 5 years. Most of the job cuts are in the U.S. and Europe. Hiring has continued in emerging markets leaving the net job cuts over the last 5 years at 9,600. Of the 7,300 job cuts planned for 2012, 2,200 will be in R&D departments, 1,350 in manufacturing and 3,750 in sales. AstraZeneca is changing the way it will do research and development with these changes. It will close the neuroscience research laboratories in Sodertalje, Sweden and in Montreal. It will have in its place "virtual" neuroscience units, small groups of 40-50 researchers working with academic groups and scientists outside to utilize the best science in the field. This is one of the most radical changes in R&D practices among pharmaceutical companies. In marketing the approach has shifted from having full time sales people call doctors offices to using online marketing tools and telemarketers. This approach is also being adopted for emerging markets....

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As the Nation faces discord over the right Path Forward it is important to remember- the pandemic's costs for a once in a century event are still being added up. Not just 1 million dead. 1 million with struggles over Long Covid. The toll on the elderly affecting tens of millions of caregivers. 10 million affected by decision not to vaccinate- with adverse symptoms and at work, 20-50 million affected by the financial losses stemming from the pandemic hit to jobs and work in 2019-2020. As the Nation discusses its future there is a sense that many have been left behind even with the best intentions of government. With huge wins in infrastructure now and ahead of us,  the wins are not enough in cutting pharmaceutical and other day to day living costs. Harris has a plan and Trump has no plan for Cost of Living Action. Yet a lot more could have been done for cost of living action given a president with a single focus determination to fix problems, make the large investments needed and full support of both houses of Congress. It is this lack of full Congressional support of a determined president for taking action that has led to insufficient effort to fix cost of living, wages and public services- something that needs to change to bring help to the middle class and lower income working people of America. ...

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President Obama attends a filming of a show for "The View" hosted by Whoopi Goldberg and co-host Barbara Walters at ABC studios on Sept 24, 2012. This happens just as world leaders are greeted by Secretary of State Hillary Clinton as they arrive for a meeting of the General Assembly of the United Nations in New York. And just as Tim Arango reports in the NYT that the situation in the Middle East is seeing spillover affects from Syria that affect the entire region, and Middle East tensions are rising.