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New York Times Original article ›
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All sectors of the U.S. economy see an increase in hiring, including retail, transportation, healthcare and manufacturing, as the economy adds 288,000 jobs in June, according to the Labor Department. Manufacturing added 16,000 jobs, transportation 17,000 and the public sector increased jobs by 26,000. Hiring also picked up for high school graduates compared to the poor record in 2013. In 2013 one Barclays economist says the jobs for high school graduates at this point were declining by 16,000 a month on yearly basis. He says employers are now adding 29,000 jobs for high school graduates a month in 2014. The unemployment for high school graduates declined to 5.8% in June 2014, for persons with some college education or an associate degree 5.0%, for college graduates 3.3%. Barclay's estimate is that the U.S. added an average of 231,000 jobs a month for the first half of 2014. The inflation rate remains at about 2%, giving the U.S. Fed more flexibility in setting rates to support jobs growth. The lower unemployment rate of 6.1% understates the underemployment, as a more accurate measure of employment which includes people working part time because they cannot find jobs is at 12.1%. The proportion of Americans in the labor force is also at a 36 year low of 62.8%. These two indicators for unemployment, unemployment including people working parttime, and the proportion of Americans in the labor force, combined with inflation, are the main indicators Fed chairmam Yellen is looking at....
WSJ Original article ›
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This WSJ report looks at the efforts of sugarly cola companies such as Pepsico under a new CEO to push their cola products aggressively with advertising, and modern logistics. It cites Barry Popkin, nutrition professor at the University of North Carolin School of Public Health that they are making products that are killing us more slowly. With less sugar than before but still at a time of dangerously high obesity levels in the world just as dangerous or more dangerous to humans, because they are not as healthy as previous generations. The pandemic proved the danger of higher obesity levels. The numbers say it all-1% of children 5-19 years obese in 1975 going up by 8% to 9% in 2020, and doubling to 19% in 2035, says the WSJ. That is doubling by 2035 to 19%-  simply astounding. Popkin says the fact that Americans are living more years with disabilities, and fewer disability free years, is very much linked to the food intake. On The Guardian's pages was an article about a surgeon who has a startup in Austin, Dr. Attia of Early Medical, that promotes "healthspan." It focuses on getting healthy living habits  through better nutrition, exercize, to start at an early age as being critical for a healthy life span. It is not the same starting at an early age with good food and exercize habits vs starting later in life as this means fewer disability free years when starting later in life.  ...
New York Times Original article ›
Washington Post Original article ›
LyrArc Article Gist
Jimmy Carter rejected an ostentatious presidency and DJT is a beneficiary says the Editorial Board of the Washington Post. It was Jimmy not James. Beige wool cardigan sweater was OK for prime time address. No chaueffeurs or limousines for staffers. Thermostats were turned down to 65 degrees during the day. Daughter Amy was enrolled in a D.C. public school. He had his cousin Hugh Carter Jr pinch pennies by cutting out unnecessary costs in the West Wing. House Speaker Mike Johnson reminded the public of these virtues of simplicity and thrift. Jimmy Carter carried his own luggage into Air Force One. "Hail to the Chief" was not performed when he entered the room. The Nation appreciated this as is so evident in the final tribute and the heart felt gratitude of the people of America. One sees little division in the Nation when it comes to goodwill for Jimmy from Thune and Johnson in the US Congress whose tributes speak louder than the politics. Senator Thune should know, he grew up in a two room home in South Dakota and understands simplicity. What difference does it make if he is  a Republican or Carter a Southern Democrat. ...
Original article ›
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Department of Education invites controversy because of diversity programs and "transgender" as culture ignoring health risks. Established by president Jimmy Carter in 1979. Education in the US is run at the state level by each American state administration compared to UK where it is done at the national government level. It has one of the smallest budgets of any agency at 4%, Transportation is 1.7%, Agriculture 3.0%. Most of its work is overseeing $120 billion of federal grants and programs for public education through high school. It supports districts with low income students with $18 billion aid. Head Start program supporting 883,000 low income pre school children in 2022 gets federal aid from Department of Health and Human Services. National School Lunch Act of 1946 by Harry Truman is not affected as it is run by states,  federal aid comes from Department of Agriculture to 20+ million children. Republicans oppose spending about $1 billion to support Diversity program DEI initiatives and support for "cirtical race theory." There is opposition to "transgender." Britain's NHS had a commission look into transgender and says it poses health risks to children and young people. It also adds to anxiety of parents. Republicans are 53 -47 in majority in Senate- to scrap the agency Republicans need 60 votes in the Senate. The likely option is that they will pass a bill putting many of the functions in other agencies reducing its impact- between HHS, Treasury and Interior agencies. ...
The New York Times Original article ›
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Michael Powell of the NYT shows what is wrong about the Olympics model of the IOC having host cities build costly facilities just for a two week period. Cities that have suffered paying for the Olympics in recent memory are most strikingly Athens, Greece, and some observers say the Greece crisis started about the time the Olympics were held there. In Greece as in Rio, corruption, and mismanagement, are major issues. In the case of Rio the Olympics were held following a time of widespread protests as the economy hit a recession, and corruption scandal at Petrobras and in the government led to public anger. Most striking is the fact widely reported that the Rio government does not have enough money to pay salaries and much of the investment in Olympic infrastructure is not going to be available to the working class, middle class, at a time when basic public services such as clean water, good bus services, environmental pollution, significant shortages in affordable housing remain unaddressed. Bolsa Familia program of the socialist Workers Party helped the poor, yet the middle and working class have suffered with misspent funds, and mismanagement of the economy. Powell does well to show how things could be done better than they are now. He says he applauded the Bloomberg plan to build swimming pools and kayak routes in different parts of the city, in city parks further away where the middle and working class could use these facilities. This did not happen at the Rio Olympics. It also shows that the IOC could also get into this instead of being some distant organization, that simply hands out this gift called the Olympics and stringent requirements. What if the IOC also says it wants to see ways in which the facilities will be later available to the broad public, so that swimming pools and other athletic facilities, including housing and transportation systems are then available to the people in different parts of the city. Rio de Janeiro University has seen large cuts in pay and services. It took Montreal decades to pay for the Montreal Olympics. Sochi facilities will not be used for the large part by the Russian public, more painful because of the Russian deep recession similar to the Brazilian deep recession. Olympic host cities should be required by the IOC to show that the facilities built will be usable to the maximum degree by the broad mass of the public, finances are stress tested for recession in a country. At this time citizens of cities such as Boston and Oslo have taken up these things- as the IOC takes no responsibility and host governments are giddy about showing off their country- and pulled out. Least valid of all is the notion that the developing countries are being discriminated against. Look at all the empy stadiums in the far north of the country of Brazil in the World Cup, and you realize there are better ways to take pride in a country- how about matching your transportation infrastructure with that of China, some bullet trains, some new subways in large and midtier cities, done so as to give broad access to the public at affordable prices for transportation? India is a large and now forward looking developing country, a young population with tech and infrastructure dreams and 4 medals in all in the Olympics. Does it make more sense to match China's success in transportation infrastructure with bullet trains, new subways and road building programs, and to build athletic facilities in every high school and college in the country matching the U.S. and Britain,  especially for girls, or to seek pride in putting up an application for a gift from the IOC? ...
WSJ Original article ›
LyrArc Article Gist
About the title it depends- costs have come down for food made at home and eating at home, it is the cost of eating outside that has doubled from 3% in 1960's the Kennedy years to 5.7% in 2024 as a share of personal disposable income.  Costs of eating at home are now half of what they were in the Kennedy years when they were about 13% of personal disposable income, as shown in USDA data and charts.The American public says in voting preference and other surveys  that inflation is a key concern, food prices  are mentioned as a key concern. Food prices fell by about 8% during the pandemic 2020 and rose quickly by 2022 by 12%.    Eating at home declined from about 13% of personal disposable income in the Kennedy years in 1962 to about 9% in the Reagan era in 1990 and down to 5.7% today. The real culprit in food inflation is people paying higher prices to eat outside at restaurants. In that period obesity has increased and general health has declined by these spending habits and lack of food savy cooking knowledge that not only cuts costs but also makes it possible to eat healthier by controlling intake of the fat, oil, and other poor ingredients by cooking for oneself at home. At home one avoids packaged goods and cooks the food from healthy ingredients. A correction is badly needed and will help not only health but also the family budget. Its a crazy way to do things not to educate children on healthy foods starting early in school, including in designing lunches and gradually increasing interest in making simple items from scratch. And instead to neglect food and food intake ending up with increase in cost plus poorer health outcomes. Hitting not just the family budget, also the nation's budget with higher and higher expenditures on healthcare. American habits need a change to make more at home like mothers and grandmothers in the 1960's and reverse obesity, poor health outcomes. As for the manufacturers of packaged foods President Biden talked recently about shrinkflation putting less in each bag of food at the same price. "The American public is tired of being played for suckers. I've had enough of shrinkflation. It's a ripoff." WSJ looks at food prices in 1991 and other points in the past and today. In 1991 as a percentage of disposable income food was 11.3%, according to Agriculture Department. This was after an inflationary increase in the 1970's. USDA data shows it has reached 11.2% in 2022. The public is responding by eating less outside and making its own granola and other items, and generally buying less that cuts into sales, a healthy trend. This is expected to lead grocery stores and manufacturers to reduce prices in 2024. ...
Economist Original article ›
LyrArc Article Gist
This election is seen as a turning point for Britain. The Liberal-Conservative coalition has come up with a radical plan to cut spending and decentralize services in the areas of education, policing and health care. The plan is to cut the deficit quickly from 11% of GDP in 2009-10, to 2.1% in 2014-15. By comparison the outgoing Labor government's plan was to balance the budget by 2016-17. And the fiscal impact of Labor's budgets would have been 4% by 2014-15, compared to the Cameron government's looking at 6.3%, with larger and accelerated cuts in spending. It is something of a gamble by the Tory-Liberal government. If the severity of the cuts in spending stifle growth, then Plan B will be needed. The size of the cuts are not seen as feasible. With growing interest payments with the large borrowing by the government, and no real cuts in healthcare spending, departments delivering public services in Britain face cuts of 25% by 2014-15. With defense and schools limited to cuts of 10%- other departments would face cuts of 33%. According to the Institute of Fiscal Studies one way to reduce the severity of these cuts in department budgets, would be to find additional savings in the welfare budget. In June, Mr Osborne, the Chancellor of the Exchequer, announced 11 billion pounds in savings in this area (with half coming from using a different measure for inflation in calculating benefits). Additional savings of 14 billion pounds in welfare budgets, can reduce the size of the cuts needed in departmental budgets to 20%. One example cited is means-testing payments that go to the affluent as well as to poor people, such as child benefits, and cutting winter-fuel payments. Tories and Liberals agree on the need to decentralize government and services in the areas of schools, policing and the NHS. In schooling the idea is to give more choices to parents and children. Current schools can apply for academy status and new "free schools" will be run be non-profits, charities, churches, and parents. These schools will have freedom to set pay, select curriculum, and still receive state funding. In policing, the idea is to have directly elected police and crime commissioners for every constabulary in England and Wales. The elected commissioners would appoint constables and determine budgets and priorities. For the National Health Service the move is to give groups of general practitioners a significant role in the delivery of health care. ...
New York Times Original article ›
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All the danger signs are flashing red says Prof. Simon Johnson of MIT's Sloan School of Management, as Citigroup stock loses 26% on November 20, 2008 and 50% of the stock's value in just 4 days. The fear is that Citigroup faces still bigger losses as home mortgages, credit card loans, commercial real estate debt all deteriorate further in a deep economic downturn, and that Citigroup will need large sums of additional capital from the government. There is similiar to the Detroit auto industry executives and public opinion a big gap in how Wall Street investors and Citigroup executives see the company's situation.
New York Times Original article ›
LyrArc Article Gist
Support for the centre right Moderate Party of Mr. Reinfeldt declined to 23.2% in Sweden's 2014 parliamentary elections. A trade union leader, Mr. Lofven, led the coalition of centre Left parties including the Green Party to a narrow win over the centre right parties, with 43.7% of the vote. Votes to an antiracism and womens issues party Feminist Initiative was expected to go above the 4% needed to enter parliament and provide support to the centre left parties, yet reached 3.1%. The strain on funding for schools and other public spending, as a result of immigration support spending on Middle East refugees by the Reinfeldt government, led to a siphoning off of significant voter support to a far right anti-immigration Sweden Democrats Party which doubled its vote to 13%.
Wall Street Journal Original article ›
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Peters and Wessel provide profiles of middle aged American men in 2014- as tech workers out of jobs as technology shifts and worker skills fall behind, younger men with masters degrees in fields such as public administration where it is hard to find jobs and workers lack retraining, and other men who lost jobs from globalization or the 2009 economic crisis. About one in 6 working age American men 25-54 are without jobs- about 10.4 million. Of this group two thirds are not looking for work either because they cannot find decent paying jobs or are too discouraged looking for work, and are not counted in the unemployment rate calculated by the Labor Department. About three quarters of the working age men not working have only a high school education compared to 55% with jobs. Wages for highschool dropouts have declined by 25% since the 1970's, and 15% for those without a college degree but having a high school diploma- some of these men are going back to school, others lacking retraining are too discouraged to look for work and depending on a spouse or government benefits. It is these people U.S. Fed chairpersons Ben Bernanke and Janet Yellen have in mind as they shape Fed policies since 2009 to not leave them behind....
New York Times Original article ›
LyrArc Article Gist
A new Arizona law tells school districts they would lose 10% of their state education funds if their ethnic studies programs do not comply with state standards. Programs that are not allowed are programs that advocate ethnic solidarity, are primarily for one race, or promote resentment toward a race. Classes in the Tucson Unified School District's Mexican-American program have been declared illegal. Arizona's attorney general Tom Horne, declared the classes illegal, in violation of a state law going into effect Jan 1, 2011. Other programs for black, Asian and American Indian students have not been affected. All this is happening in the midst of fierce protests about the state's immigration laws. Mr. Horne, was superintendent of public instruction for Arizona before becoming attorney general. At that time he wrote a law challenging Tucson's ethnic studies program, which the legislature passed and Governor Jan Brewer signed into law in May 2010. It takes aim at texts used in the classes, such as "Occupied America," and "The Pedagogy of the Oppressed."...
Brookings Original article ›
LyrArc Article Gist
The purpose of the National Education Policy was to prepare India's young people for India as a developed modernized country and to meet the educational needs of such an economy. The idea was to break the idea of silos based education that separate the science, engineering, medicine, law, arts, humanities, languages based education into separate non mixable parts. It is based on the idea that in modernized economies one needs critical thinking abilities, creative thinking, that mixes the humanities and arts with sciences, with engineering, and other scientific fields.  Because of India's diveristy, history of disadvantaged populations, to build an inclusive economy is also a goal to tap into the widest pool of human potential and talent in a country with 1.2 billion people. For this to happen the goals are set for inclusivity for gender and disadvantaged populations.  What is not in NEP is the investment part, and the governance part, both critical for it to be effective. Investment at 4-6% of GDP is inadequate, as this Brookings report point out. For healthcare and education, India has to expand its share of GDP dedicated to these two areas to make it comparable to other advanced nations. This will pay off in infrastructure development and exports led growth as inputs of education are key to get productivity up in manufacturing and in R&D. Governance is essential part of this overall plan as the public school system in India as in Brazil, Mexico and other countries suffers badly from a lack of attention- with discipline, transparency, good government, increasing incomes and rewarding teachers at every level. ...
NYTimes.com Original article ›
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The 47 seconds of a UC Davis Law School debate for the election of Attorney General California. The year 2010, Kamala Harris 45 years old had endorsed Obama early in 2008, was becoming well known in the California Democratic party. The debate was with Steve Cooley, a popular Republican District Attorney elected in 2000. Cooley was looking into outlandish salaries for public officials in the City of Bell. The issue of double dipping had been raised in the primary by Cooley's opponent Eastman. Jack Leonard on of three panelists said he would ask the question about double dipping to Cooley, about Cooley taking his taxpayer paid pension to add to his salary as AG of $150,000, that would get him to make $400,000. "Do you plan to double-dip by taking both a pension and your salary as attorney general?” Mr. Leonard asked. “Yes, I do,” Mr. Cooley said outright Leonard glanced at Ms. Harris. She said nothing.    “I earned it.” But Mr. Cooley was not yet done. “I definitely earned whatever pension rights I have, and I will certainly rely upon that to supplement the very low, incredibly low salary that’s paid to the attorney general,” said Cooley. Everyone felt a moment of silence and amazement. And then Harris said "Go for it Steve. You earned it." Harris campaign was about broke with only $750,000 left, just enough to run one ad spot for only 1  week. And Kamala Harris had the courage to do just that. At that moment the campaign was won, a last minute counter ad did not register as Meg Whitman the governor candidate for Republicans  was seeing her campaign go off the rails. ...
Committee for a Responsible Federal Budget Original article ›
LyrArc Article Gist
The Committee for a Responsible Federal Budget is a non partisan nonprofit organization formed in 1981 by Connecticut Democrat Giamo and Oklahoma Senator Bellmon of the US Congress, senior members of House and Senate Budget Committtee. To educate the American public on issues related to the US Budgets, where money went and how it is spent. It's estimate for Kamala Harris plan for $6000 child tax credit is $10 billion a year. The existing $3600 a child tax credit in 2021 is estimated to cost $110 billion a year. Lyrarc estimate this will be offset by savings in Medicare of $36 billion a year from Medicare negotiation with Pharma as indicated by president Biden, and by $40 billion a year in billionaires paying 25% instead of 8.2% as a minimum tax per Biden, additional savings coming from very high income earners earning above $10 million. This would bring the cost of helping children in the first crucial years of life to below $44 billion a year. And making a huge investment in children at a time when everything has gone up in price from diapers, to baby food, to childcare and early childhood learning crucial for the future of America. We believe it is imperative to invest in children after the pandemic has cost 1 million lives and left for each dead person 8-9 persons in precarious situations financially. Educationally it has left children behind from missing crucial school years. These gaps will need to be filled and this is only one investment in the right place to correct this problem to prevent America from being handicapped forever by these problems and gaps in education in early years.  ...
NYTimes.com Original article ›
LyrArc Article Gist
Under the law overturned by the US Supreme Court it was illegal to carry a gun openly and a permit was needed in New York to carry it concealed. Three Supreme Court Justices appointed by president Trump were of a disposition that opposed gun control laws- Gorsuch, Kavanaugh, and Barrett. The requirement under the New York law was that you had to show "good moral character" and "cause" to carry a concealed weapon or carry a gun openly. Many other states have such laws in California, Hawaii and urban states in the north east. Republican states are loosening gun control laws. This comes as many random shooting incidents are taking place in the US some in schools and grocery stores, the most recent being a shooting in Buffalo, NY. The vote was 6-3 after the Supreme Court for years had avoided hearing such cases based on Second Amendment rights from the Constitution that some had interpreted to include freely carrying guns without any common sense restrictions. This issue is second only to abortion as a cultural issue in the US on which sides are taken by the public including the Supreme Court Justices selected by Mr. Trump. Though not directly apparent these and issues of immigration, other cultural issues surrounding gay rights are putting those who would normally come together on issues of national interest on opposite sides when it comes to common sense support for everyday issues of feeding families, keeping workers employed in good factories at home, child care, education, health care, fair wages, restoring America's manufacturing leadership and bringing back manufacturing to the US. The emergence of Tech and tech companies, Silicon Valley, the finance sector in New York, has reinforced the prejudice in these opposing sides as Tech and the finance sector have largely embedded themselves into the Democratic side. Tech and finance sector employees with higher incomes have largely insulated themselves from the interests of ordinary workers and families creating a split Democratic party when it comes to supporting workers and families who form the vast majority of the American people. In a sense today the national interest is separate from these cultural issues and supporters of national interests can be found in both parties who can look beyond and above these cultural issues. It is also where many of these cultural issues can be resolved to some degree using common sense on which most informed members of Congress can agree. This is true for gun control as a group of bipartisan Senators from both parties are preparing gun control around common sense principles that today are even beyond the capacity of the Supreme Court of the US that itself now reflects a raucous public sphere. ...
Wall Street Journal Original article ›
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The Dean of Harvard Medical School says the Health Reform bill gets an "F" grade. He say its disingenuous to call this reform, and Congressmen and the White House are deceiving the public if they attempt to pass this off as reform. What it will do is accelerate health care spending in the US, and the bill has simply postponed most of the major health care problems, especially the ones that drive cost including the fee for service system and delivery of health care.There are no substantial efforts to control the growth in health care costs or improve the quality of care, which makes this effort unacceptable as reform. In his discussions with other health care leaders and economists, Dean Jeffrey Flier, says he has found the opinion unanimous on this point, that whatever the final legislation looks like in Congress, it will only serve to accelerate health care spending rather than contain it. On the present system's failings he is explicit- the current system he says promotes fragmented care making it difficult to assess outcomes, the true costs of care are disguised, and competition based on price and quality is made impossible. The new legislation while expanding access to coverage makes a terrible tradeoff of an accelerated crisis of health care costs and merely continues the current dysfunctional system. The experience of Massachusetts, where access to care was expanded but spending went up, is that this won't work. He points to the Special Commission on Health Care Payment System in Massachusetts recommendation, that the health care system there must be changed from a fee for service system to one with "capitated" payments. So what is really disingenuous about this whole affair? Congressmen making it look as if reform has happened and congratulating themselves on increasing access to health care, when many of the serious problems of funding health care, skyrocketing costs, and a dysfunctional system, have only been kicked further down the road for some future legislators to tackle. With the national debt about 12 trillon dollars when this plan is factored in, this is cause for serious concern. ...
BBC News Original article ›
LyrArc Article Gist
There are differences between the governors of 10 worst hit states and the president of the U.S. on when to reopen the economy. The seven on the East Coast including New York, New Jersey, Connecticut, Massachusetts, and three on the West Coast including California and Washington, all but one have Democrat governors and want to wait beyond May 1, till it is believed to be safe to reopen.190,000 of the 592,000 infected cases and over 10,000 of 25,000 cases of deaths are from New York alone. This is as though a third of the problem is in one state. The feeling in New York is that it should be the last to reopen, other states can go first in the middle of the country. The position in the U.S. Constitution is for states to maintain public order and safety. This was the basis of the president's position to work with the governors and continues to be the case, though there is pressure from economic advisers to the president to reopen earlier balanced by the opinion of health experts around the president.  Some states are taking action to reopen because the virus has not severely affected these states. President Trump says it is for governors to decide what is best for each state in consultation with the federal government. The U.S. government would step in if a state is taking risky action with the coronavirus. On the issue of whether the president could have acted quickly in February following his decision to stop flights from China and set up quarantines in January, the BBC has this to say. Dr. Fauci, the president's respected health expert was one of many public officials who did not see the magnitude of the crisis evolving with lack of good information from China. BBC North America Editor Jon Sopel cites Dr. Fauci's comments on February 13- that the coronavirus danger is "just miniscule" compared with the "real and present danger" of flu. As it happened the president acted alone in his sense of the danger from the outbreak in China through incoming flights and not relying on others. Here is what the situation of each country on reopening is- India -  has extended the lockdown to May 3. France - has extended the lockdown till May 11. U.S. - has extended the lockdown to May 1. States are taking the responsibility. UK - continues lockdown restrictions till May. The French president Macron had a simple answer to the question " when will we be able to get back to a normal, prior life?" Macron said "Quite frankly, humbly, I have no definitive answer to that." Some nurseries and schools will reopen May 11. Not restaurants, hotels, museums and theaters. By May 11 France will be able to test and quarantine anyone with symptoms and general public masks will be available to all. This is what Dr. Fauci in the U.S. also wants to see before being able to reopen, that testing and tracing, isolating, procedures be efficient and reliable. ...
Wall Street Journal Original article ›
LyrArc Article Gist
Administrative costs are one of the key reasons tution costs have increased to excessive proportions in the U.S., putting a heavy burden on the middle class, reducing social mobility that is an important aspect of postwar progress in Europe and the U.S. by putting college out of reach for millions of young people. This also creates a heavy debt burden for young people- U.S. student loan debt passed $1 trillion in 2012- who are less likely to buy a first home because of years needed to repay student loans. The market pressures to control costs do not exist in the same way as industries such as automobiles, because of the demand for college education in a modern globalized economy. Douglas Belkin and Scott Thurm have provided an indepth look at the University of Minnesota to show the spending surge and internal tendencies for faculty and bureaucracy to increase spending on hiring, building expansion to compete with other schools, and salaries to support their own within the college and university system, with a passive student community, and passive parent community, and lack of other outside pressures. Tution and fees for state residents doubled in the last decade at the University of Minnesota to $13,524. The figures tell the story- total debt with borrowing for building construction at U.S. 4 year public colleges tripled to $88 billion between 2002 and 2011, according to the Department of Education. Debt servicing costs doubled at the University of Minnesota to $106 million in that period. Minnesota's government provided $570 million for university operations in 2011, same as 2003-2004 school year even with inflation and 10% higher student enrollment. Yet analysis by the Department of Education and the Wall Street Journal shows in that period the spending increased disproportionately compared to inflation, student enrollment and teaching activity, with little restraint. WSJ analysis showed the University of Minnesota system added 1000 administrators between 2001-2011, with administration hires increasing 37%, double the increase in the students and double that of teachers. During that period the number of employees to manage people, programs and regulations went up 50% faster than the number of instructors, according to the Department of Education. Bureau of Labor Statistics cites this as the reason tution costs went up faster than health care costs. The 19,000 employee payroll at the University of Minnesota means one employee for three and half students. The new university president in 2011, Eric Kaler, interviewed by WSJ's Belkin and Thurm, says no one knew what it cost to run the school when he started....
WSJ Original article ›
LyrArc Article Gist
Gerard Baker in the WSJ points to issues of transgender, illegal migrants in US cities, and race in politics as issues on which the "correct" views were causing anxiety for the American public. Parental anxiety on transgender at school for their children, public anxiety on illegal migrants in American cities, and anxiety about race as a defining factor in political life. The illegal flow of fentanyl and loss of life in the US is a basic issue- how could the US as the largest advanced economy in the world become so feeble that it cannot stop illegal flows of fentanyl and human smuggling. Baker also says that he doubts that the new Department of Government Efficiency will work and eliminate waste, that he thinks imposing tariffs will depress domestic productivity and reduce living standards of the people. And that installing what he calls "oddballs" will work except to create chaos. On the issues of infrastructure, cost of  manufacturing revival in the US which were issues in 2016 and turned into the agenda of the Biden years little is said, and on cost of living nothing tangible about reversing the 20-30 percent of price increases in housing and groceries that have happened in the pandemic years 2019-2023. ...
New York Times Original article ›
LyrArc Article Gist
Frank Portnoy of the University of San Diego law school says it would be a serious mistake for the Obama administraion not to have the same rules for all derivatives, rather than the preferred financial industry option of leaving unregulated privately negotiated derivatives or "swaps" between two financial organizations. Under the current Geithner proposal only the public derivatives or standardized instruments would be traded on regulatory exchanges and required to have cushions of capital in reserve like banks do. Previous efforts of regulation were defeated in the same manner says Portnoy, as when Sen Graham and Wendy Graham head of the CFTC, both worked to get this exception. In December 2000 this lobbying effort paid off with Bill Clinton signing into law measures that largely deregulated derivatives.
New York Times Original article ›
LyrArc Article Gist
Friedman looks at the situation for inner city kids in cities like Baltimore. Education Secretary, Arne Duncan, tells him most of these kids suffer from a lack of parenting. Duncan says, that with the lack of parents around them, the only presence round the clock is that of gangs which make an influence on these kids. One solution discussed is using the boarding school option to save these kids from the pernicious influences around them in the absence of adequate parenting. Other experts suggest tackling the source of the problem by economic revival of these communities. As a separate article in the NYT (Patricia Cohen, May 24, 2015) shows this is not easily done- black communities depended heavily on public sector jobs which were hit hard in the last decade, as the hollowing out in manufacturing was also hitting these communities and the industrial labor force. Blight such as that in Detroit from bankrupt cities unable to provide public services has added to the strains on these neighborhoods. William Galston (WSJ, May 6, 2015) points to the revival of Pittsburgh, and says cities such as Baltimore could do more with their medical technology and university assets. ...
The Times of India Original article ›
LyrArc Article Gist
After Mohandas Gandhi one of the main leaders of modern India is one who came from the untouchable castes, the lowest caste in India's caste system which had declined over centuries. Babasaheb Ambedkar comes from Ratnagiri district in Maharashtra from a family that had gained its way out of the caste constraints by working for the British East India Company. He later studied at Elphinstone College in Bombay, and went to Columbia University on a scholarship. He finished Masters degrees at Columbia University and later at the London School of Economics, in economics and political science.  Returning to India he wrote "Annhilation of Caste" in 1936. Mohandas Gandhi was at this time working on his own movement to get rid of the untouchability that over centuries made its way into the original caste system and weakened the foundations of Indian society. To understand this one has to know that in many upper castes it was seen as becoming an outcaste even to travel overseas, which by itself may have led to the decline that India experienced in the period 1500-1950, and which Gandhi personally experienced and fought his way out of. By 1942 even the British recognized Ambedkar's efforts and he was Minister of Law and Justice in the war cabinet. In 1947 Ambedkar was chosen to lead the team that would write India's Constitution. In his latter years Ambedkar became a Buddhist and has written several books on Buddhism. By 2015 Ambedkar day was recognized as a public holiday by the new government and his memory is enshrined in the efforts now underway in India's largest state of Uttar Pradesh to bring modern ideas, and modernization through next generation infrastructure, and opportunity for Dalits of which caste Ambedkar was one, and the same for all of the 250 million people of Uttar Pradesh, almost the size of America. ...
Wall Street Journal Original article ›
LyrArc Article Gist
The Crystal Bridges Museum of American Art is under construction in Bentonville, Arkansas. The 201,400 square foot museum will open on November 11, 2011. The museum has a complex of eight gallery pavilions and is being designed by architect Moshe Safdie. It is the dream project of Alice Walton, daughter of founder Sam Walton. The Walton family has decided to make a $800 million donation to the museum. Ms. Walton conceived the project six years ago and is buying art works to build the collection. She outbid the National Gallery of Art in 2005, to buy Asher Durand's Hudson Reiver School masterpiece, "Kindred Spirits," from the New York Public Library, paying $35 million. The museum will cover the entire period of American art from the colonial era to contemporarty art works.
New York Times Original article ›
LyrArc Article Gist
By winning the Glenrothes byelection by a large margin, Labor's candidate, a headmaster in the school Gordon Brown attended, and where Gordon Brown and his wife Sarah campaigned personally, showed that Gordon Brown is winning support from the UK public through his handling of the economic crisis in the UK. And also for his leadership to American and European governments that were faltering in the early period of the crisis in October 2008, till Brown took decisive action to recapitalize Scottish and other English banks, something the Americans and Europeans later followed. The Scottish candidate was in favor of independence for Scotland, and whether Scotland benefits by independence from England was put in doubt after two of Scotland's leading banks including the Royal Bank of Scotland were rescued by Gordon Brown's government.

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