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The Venezuelan government provides gasoline to people in the country at a few cents a gallon- almost free. Even Saudi Arabia, the Emirates and Kuwait which have way better financial balances and dollar reserves do not provide gasoline at such prices. The result is chronic shortages of basic parts and other imports because the government does not have enough dollar reserves for imports. Venezuela devalued its currency by 32% recently, making imports more expensive and pushing inflation up even higher to 28%. The problems it creates are excessive and wasteful use of gasoline, and free gasoline that then provides consumers money to pay for surging cost of everyday imported products. Nullifying any real benefits when shortages, inflation, dilapidated infrastructure and lack of development and jobs, are taken into account. The lack of capital to invest in the oil industry has led to declining production making the situation unsustainable. Yet neither party of Maduro or Capriles in the upcoming April 14, 2013 election, following the death of Chavez, supports ending this subsidy. Efforts to end the subsidy by president Carlos Andres Perez in 1986 led to riots and about hundred deaths in police response, and a coup by Chavez, then a military officer, a few years later. Under Chavez the subsidy was extended to the level at which gasoline is about 4 cents a gallon. Compare this with the price in neighboring Colombia at $4.72 a gallon, and Brazil at $5.40 per gallon. Consumption per capita in Venezuela is excessively high, about seven times per capita than neighboring Columbia. The investment in infrastucture is hobbled by lack of capital, the capital Caracas dilapidated, and no major infrastructure projects taken up by the government. It costs Venezuela 8.6% of GDP or $27 billion to pay for the excessively high subsidy, compared to 3.2% of GDP going to healthcare spending and 5.1% for education. In comparison Indonesia, another developing country, uses 2.5% of GDP or 21 billion for its subsidy for a population of over 200 million. It is not that a fuel subsidy is provided, but the entitlement to free gasoline that makes Venezuela the lone exception. There is a reason why prices in Brazil and China, large developing countries, price gasoline to motorists at over $4 a gallon- to discourage excessive and wasteful use, and release scarce capital for infrastructure development, building dollar reserves for imports of machinery and equipment, and other uses in industrializing economies. Compare Venezuela with Bolivia under the socialist government of Evo Morales. In 2010 Bolivia increased its price of gasoline by 80%. The price in 2013 is about $2.00 per gallon. Morales cushioned the increase by increasing salaries in the health and education sectors, armed forces and police by 20%, and increasing prices of locally produced wheat, corn and rice by 10%. Morales said he did this to reduce state subsidies of $380 million for $660 million in gasoline imports, of which $150 million was siphoned off by smuggling gasoline to neigboring countries. Incentives were provided to oil companies to produce gasoline in Bolivia to reduce imports. ...

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Huntsman's strategy in S. Carolina is to draw moderate voters south of Columbia and midwestern transplants along the coast. The plan is to draw voters who would otherwise vote for Romney and give a win to Perry or Santorum. This way he could try for a comeback in other states.

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Glenn Hubard, dean of the Columbia Graduate School of Business, and Bill Gross of PIMCO, see the need for government to provide solutions in the unemployment crisis. Hubbard is for worker retraining, help to community colleges, and Bill Gross is for infrastructure building efforts and new investments in energy, and other areas.

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Casey Phair was born in South Korea and came to New Jersey when she was one month old. She plays for South Korea and at 16 she is the youngest player in the World Cup Women 's Soccer in 2023. She plays for a Development Academy that trains young aspiring players in South Korea. More of these academies are cropping up all over the world. Then there is Giulia Dragoni of Italy also 16 years, three Philippines players are teenagers. Linda Calcedo of Columbia is at 18 years the youngest goal scorer. Alyssa Thompson in the US team at 18 years is hoping to replace older players such as Alex Morgan. More talent is coming into the women's soccer game all over the world and the US lead is shrinking. Much of this talent starting at younger ages and players getting better facilities. Countries in Asia, Latin America and Africa are drawing on young players of ethnic links to their home country practicing in the US. This was clear when the Philippines beat New Zealand, Nigeria beat Australia, and the US hung on to a draw with Netherlands. France held to a draw against Jamaica. ...

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This story of soccer players is true for many of the best, coming close for the fans is not enough, many finals and superb performances are not enough. This is true for coaches. The same could be said for England coach Gareth Southgate, coming close for fans is not enough. Yet for the hundreds of millions around the world who enjoyed the Euro Finals it was a really good game with England so close to the very end with a bunch of repeated headers any one of which could have ended up in the Spanish goal. Speaking of Harry Kane one can think of Toni Kroos who is has played for Germany 108 times. Germany as the host country did not make it to the semifinals. It was Toni Kroos's last game, a player as gifted and patient as Harry Kane. Lionel Messi did not score in the Copa America Finals game against Columbia, in extra time Lautaro Martinez scored the only goal in Miami. Still the golden boot went to Dani Olmo and Harry Kane of the Spanish and English teams, such was the extent of their effort, giving it their all, and the people watching the game all over the world thank them for it. ...

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Henrik Bohme says not just Putin is responsible for the situation Germany faces of a cutoff of supplies of gas from Russia if the Nordstream pipeline never comes back on after maintenance. Bohme says that in September 2018 at the UN  General Assembly Donald Trump told Germany to look in the mirror, saying that Germany would become completely dependent on Russian energy if it did not change course immediately. In return Trump only got laughter and head shaking from the German delegation says Bohme. Over that period the response was the same from Merkel and the CDU - a smugness and condescending attitude to the US. When the US imposed sanctions on Nordstream 2 Germans suspected a backhanded trick to get Germany to buy dirty fracked gas. Today it is buying the same fracked gas from the US and asking for more. It is similar to the situation for coal as coal is being brought from Colombia.

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Dylann Roof, a 21 year old white youth shoots nine people at a historic black church in Charleston, South Carolina. He is reported to have racist views and had a car license plate showing the Confederate flag. About 500 people carrying signs "Take down the flag," rallied outside the Statehouse in Columbia, South Carolina.

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The US gets the lowest score among the large industrialized nations- way behind Europe- in its record on greenhouse gas emissions and air pollution policies, agricultural policies, smog, and other environment criteria in a survey done jointly by researchers at Yale and Columbia Universities. On regional smog the US has a very poor score.

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U.S. Supreme Court nominee BrettKavanaugh, a Court of Appeals judge in the District of Columbia, could affect the Mueller investigation and issues of pardon, because of his expansive views of the presidency. He was part of the Kenneth Starr investigation of president Clinton. During that investigation he pursued it vigorously but later his opinion was that the president should be not distracted from his important duties, and should have some freedom from being prosecuted. For this reason it is not clear how he would act in the Mueller investigation. President Trump could have considered this when he selected Kavanaugh, says this report.

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Stewart says regulators let Barclays off lightly. Prof. John Cofee of Columbia University Law School, an expert on the subject, says the regulators were toothless in the LIBOR case. In fact under the settlement Bob Diamond was allowed to continue as CEO. He resigned only after UK prime minister David Cameron called for him to accept responsibility and resign.

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Colombia's GDP is $350 billion, in 2025 Venezuela's is $50 billion. Socialism under Chavez imitating Simon Bolivar as shown here starts out well with more housing, health care reaching poorer neighborhoods and parts of the population that were ignored. But only till 2011 in the early years. As mismanagement, corrupt cronies take over the nationalized enterprises, petroleum company fails to invest, and mismanagement of the economy sets in, educated classes leave the country in the class warfare, the results are disastrous. As much as 20-30% of the population leaves, hyperinflation, bad relations with the US, leading to the worst humanitarian disaster in the American continent since 1900.  It shows that the educated classes of every nation bear a major responsibility to  create a healthier society at the beginning so that the glimmers of hope of free services lead to the wrong people ending up in power and mismanagement on a massive scale destroying everything. New York City's educated classes should shoulder the responsibilities that people like Felix Rohatyn as head of MAC describes in his book- Bold Endeavors, that is the true spirit of the Nation (2009). ...

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The most senior management person of Indian origin in the US financial business, Vikram Pandit came to Columbia University from India at the age of 16, receiving a doctorate from Columbia. He was in a teaching position at Indiana University in Bloomington, Indiana before joining Morgan Stanley and heading its institutional client division. Richard Parsons was leading the committee making the choice, and Robert Rubin was lobbying hard for Vikram Pandit because he is deeply thoughtful, has international background, and can bring the strategic sense that Rubin sees as important. Rubin will help from the sidelines as Head of the Citigroup Executive Committee.

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Former U.S. Federal Reserve chairpersons Volcker, Greenspan, Bernanke and Yellen, are together at the International House, on the campus of Columbia University, in April 2016, in a forum hosted by journalist Fareed Zakaria. The discussion covers topics related to the financial crisis of 2008 and its aftermath, with quantitative easing, Fed communication as policy tool, and the gradual increase in interest rates.

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The increasing number of dengue fever cases in South America with 2.6 million cases in 2024 three times that in 2023.

Costa Rica, Caribbean, Mexico, Brazil and Argentina, Colombia top foreign destinations for US travelers have high rate of dengue fever caused by mosquitoes. Cases in South America spike during the summer which is from December to February.

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Venezuela's economy declined by 2.8% in 2014, according to the government. In 2015 the GDP decline is forecast at 7% by the IMF. Venezuela is finally confronting the serious problems it faces by giving gasoline at the pump at pennies a gallon. The huge subsidy leading to waste and smuggling in the border regions with Columbia was wasteful at crude oil prices of $100 a gallon, and is now a burden on the economy at crude oil prices of $50 a gallon in Jan. 2015. In his annual address at the National Assembly president Maduro confronted this by saying- "It's a distortion, you have to admit it, you can crucify me if you want but there's a need for us to go to a balanced price." On devaluation of the currency, the Bolivar, he said a state run operation that sells U.S. dollars at the rate of 50 Bolivares per dollar would now be run by private brokers. As this is the lowest of a three tier exchange rate run by the government for all foreign exchange transactions it effectively would be a devaluation of the currency. It would help the government meet its budget deficit by bringing in more local currency, which private economists estimate at 14% of GDP. At the same time it would worsen already high inflation of about 64%....

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The increasing use of millet grains to substitute for wheat and rice is good for India as it copes with climate change. Millet grains are more resilient in the current heat waves that will continue for some time. Millet grains are also better from a nutritional perspective. The entire chain, planting season timing, irrigation and fertilization of crops, need to be researched and the research used to prepare for climate change with new agricultural practices, say experts. Nutri cereals such as jowar, raagi, bajra, have the physiology to be resilient and have lower water demands, higher tolerance for coarse soils and heat, says a professor of ecology at Columbia University. The UN has declared 2023 as the Year of Millets and PM Modi has also launched a campaign for greater use of Millet grains. Millet grains have a high level of iron, fiber and certain vitamins.  With obesity increasing in all countries  after the world moved away from these Millet grains and other ancient grains the time has come for a return to the more nutritious grains of the past. Only one or two generations ago in our families history these Millet grains and ancient grains were used widely resulting in better health and fewer of todays medical conditions. ...

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Prof. Calomiris of Columbia University, says the U.S. Federal Reserve should increase the cash reserve requirement for U.S. banks to prevent a surge in inflation. He points out that excesss reserves at banks stand at about $1.5 trillion. He suggests the Fed should take early action to prevent a jump in lending and credit creation- a pattern seen in the past after several years of dampened credit and lending.

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107 year old Irving Kahn is the only surviving investor who worked directly with legendary value investor Benjamin Graham after Warren Buffett. Zweig talks to Kahn at his offices in New York. Kahn works five days a week and has the same intellectual curiosity today as he did when he was assistant to Graham at Columbia University. He believes in knowing more about a stock than anybody selling it does.

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This report in the WSJ points to Democrats having won consistently 18 states plus District of Columbia adding upto 242 Electoral College votes in every election since 1992. Democrats need 28 more to cross the needed 270 votes. Republicans consistently having 13 states with 102 electoral College votes. Demographic changes in recent years have shifted to where Hillary Clinton may not need to devote resources to Colorado and Virginia because of a more favorable position there.  Carrying Pennsylvania with these 2 states would put Clinton over the 270 required. Vice Presidential candidate for Clinton, Senator Keane is from Virginia and is popular in the state.  Pennsylvania has a long history favoring Democrats. North Carolina has also seen demographic changes favoring Democrats. The Clinton campaign is focussing ads on these states as well as the swing states of Nevada, Iowa and New Hampshire, as well as Georgia, Arizona and Utah which are becoming competitive for Democrats. By keeping up the effort in Georgia, Arizona and Utah, Clinton hopes to make Trump divert resources there. Other two swing states are Ohio and Florida, but this WSJ report says Clinton has to win only one of the four swing states of Pennsylvania, Ohio, Florida, and North Carolina to go over 270 and Trump needs all four. Of the 20 media markets Clinton or her super PACs have focussed their ads on 16 are in these 4 states. The Clinton campaign is looking at several alternative routes to 270 Electoral College votes, which gives it more flexibility to plan the campaign.  ...

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The concerns raised about the manner in which internet service providers make decisions about what constitutes "hate speech." The need for oversight and public scrutiny over these decisions so that they do not remain opaque, as in the case of the anti-Islamic video of Sept 2012. Tim Wu of Columbia University raises questions about the need for more clarity on how these decisions are made. Other concerns raised relate to preserving public safety.

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This NYT editorial on Jeb Bush economic advisor Ben Hubbard of Columbia University, says his response that "compensation didn't stagnate" about the wages and benefits of working class Americans and the middle class does not reflect the way these groups are falling behind. It says that the public cannot expect a new perspective from advisors who were in top positions in previous administrations when the middle class incomes and living standards began to face stagnation.

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Mr. Trump proposes a 10% tariff on all goods imported into the US at Columbia, South Carolina, says this report in WSJ. A universal tariff of this type is similar to Herbert Hoover's Smoot Hawley that brought on the Great Depression in the 1930's in outright beggar thy neighbor policies which don't work, says WSJ. This opinion describes the impact of such a tariff in failing to reverse the trade deficit which is $951 billion in 2022, but fails to point to the lack of effectiveness of tariffs alone in bringing back American manufacturing jobs. As president Biden has pointed out the Trump administration made much talk about returning American jobs but did not accomplish much for American manufacturing to lead the world in the way the Biden administration has done. To do this the Biden administration passed laws to fund a entire new electric car industry, renewable energy industry, and promoting other industries in advanced technologies, including aerospace, to bring back America's leadership in manufacturing of most of the twentieth century with a bold vision for the future. Mr. Trump lacks the experience on this issue and is simply playing the rhetoric to his base without any plan to deliver the goods to sections of the American public that have already suffered the most from decades of neglect of manufacturing by Republicans going back to Reagan and Bush, Democrats Clinton and Obama. ...

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VW which has failed to build market share in the US is leaving aside its appeal point of German engineering in 2023 and now selling itself as an American brand. VW has become dependent on China for half its sales and badly needs to avoid overconcentration in one country. It is trying to enter the SUV market with the Scout brand for buzz as an off road vehicle and will introduce 2 dozen models. Scout is a 4 wheel drive recreational vehicle designed in America for International Harvester, a company VW acquired in 1981 when it was called Navistar. It is a mashup of a World War II Willy Jeep and a pickup truck with its boxy shape. Half a million were sold from 1960 to 1980. With this plan VW with only 4.5%  of the American market is trying one more time, this time as a way out of overconcentration in China. Realizing that America is where the automobile entered mass production in the factories of Detroit. South Carolina's assembly has approved $1.3 billion to support VW in building a new plant near Columbia to build the Scout.   ...

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This analysis in the NYT about U.S. action in Venezuela supporting the Guiado interim government, says this is the first intervention for a president who is against intervention. The head of the Inter American Dialogue, Mr. Shifter, says Senator Rubio and Florida senators who are close to Latin America played a role in bringing to Mr. Trump's attention the problems and refugees leaving Venezuela.

As the government shutdown continues over a wall with Mexico, president Trump has taken a different tone in his support of new and credible elections in Venezuela for a way out of the economic collapse in Venezuela. In this situation most of the nations of Latin America have come out in support of Mr. Trump, including Argentina, Chile, Brazil, Colombia and Peru, and Canada has taken a lead along with the U.S. for the first time. The EU has also supported the move for credible and new elections set up by an interim government.