LyrArc Article Gist
The fast food industry in US relies on the franchise model which has been deeply affected by depressed wages, poor working conditions and other worker abuses. Governor Gavin Newsom signs into law on Labor Day 2022, the FAST Recovery Act which established a state council tasked with setting wage standards for the entire franchise and food industry. Workers will now get a seat at the table to set standards for wages, and health and safety standards for the industry. Wages will be set at $22 per hour starting next year for about half a million workers in the franchise and fast food industry in California.

LyrArc Article Gist
This report in BBC on climate change issues in Australia with bushfires and floods and the hottest decade in history, was written four days before the election. It says even with the extreme weather disasters phasing out fossil fuels was a politically toxic issue in Australia and no party wanted to talk about it except the Greens. The election has changed this decisively with the Greens and other smaller parties getting one third of the vote. No party has proposed cutting carbon emissions by over 50%- Labour at 43% and Morrison coalition at 26%. Labour won by taking up climate change as an issue.

LyrArc Article Gist
This report in The Washington Post looks at an effort by scientists to drill into the ice in Greenland to reach the bedrock below 1600 feet of ice using new tools and technologies. Scientists have less material under this ice than from the moon's surface. Melting of Greenland Ice Sheet would raise global sea levels by 24 feet, say engineers in this report, and it is important to understand how Greenland can change under rising temperatures on earth. Sarah Kaplan and Bonnie Jo Mount travel to a remote field camp on Prudhoe Dome in northwest Greenland ice sheet for this report.

LyrArc Article Gist
This Guardian report provides a timeline for lunar exploration. The last Apollo Moon missions date back to 1972 with Apollo 17. It lasted 12 days with the first crewed space flight to the moon taking Schmitt and Cernan to moon's surface while Evans orbited above. Since then it has been quiet for lunar exploration till Chang'e 3 lander and rover from China in 2011 put China on the moon, followed by Chang'e 5 in 2020. Today August 23, 2023 India puts its own moon lander and rover on the South Pole of the moon which is expected to have water.

LyrArc Article Gist
In 2023 there are 4.3 million electric vehicles on American roads and 150,000 public charging ports. President Biden's goal is for 50% of cars to be EV's by 2030 with 500,000 public charging ports. The National Renewable Energy Laboratory affiliated with DOE forecasts need for 1 million charging ports. Ohio and Pennsylvania are leading the way in a slow start with other states joining in. A single public charging port can cost about $150,000. It will cost $31 billion to $55 billion to build the public portion of a national charging network. About $24 billion is planned investment.

LyrArc Article Gist
Saudi Arabia's efforts to push oil prices higher have fallen flat with deep discounted oil sales by Russia to China. Russia has overtaken the Saudis as the largest supplier of oil to China. Saudi supplies to China have fallen to 14% of imports, while Russia's supplies to China have increased to 14%. China is building up inventory as a reserve capacity. Saudis cut production last month to push prices higher but prices haven't budged and stayed at about $75 a barrel. Russia is discounting by $26 a barrel and offsets the extra $6 it costs to ship Russian oil. 

LyrArc Article Gist
Women do twice as much of the caregiving for elderly parents and small children as men. About 41% of mothers say this makes it harder for them as working parents. About 20% of the female workforce in U.S. is giving elderly care. This adds up to more stress, decreased working hours, decreased income, needing leave of absence, and missing promotions or training. Only 14% of working people in the U.S. have even one day of paid leave to care for a new baby or seriously sick family member- a startling statistic for America, showing lack of family friendly policies at most companies.

LyrArc Article Gist
Reports from Europe that a V shaped recovery is happening in the economy. Andy Haldane the chief economist of the Bank of England says roughly half of the 25% lost output in the economy in the lockdown in April and May has been gained back in UK. This is good news for Europe after the bad hit it took from the pandemic since March. The reopening of the economy in Germany, France, Italy, Spain and Britain is taking place with greater reassurance as the curve is flattening out at low levels of cases in July and people are generally following rules for prevention.

LyrArc Article Gist
26,000 online votes of alumni of Oxford plus 5000 faculty and staff can vote and will determine who gets to be chancellor of a 1200 year old British university. Last election was in 2003 with 8000 voting. The last colonial governor of Hong Kong, and Conservative party chairman, Chris Patten was chancellor for 21 years. It is a post that lacks authority yet is influential. The principals of 2 colleges at Oxford are applying- Elish Angiolinia of St Hughs College and Jan Royall of Somerville College. Peter Mandelson, a Labour minister, and William Hague a former Conservative foreign secretary, are both running for the job.

LyrArc Article Gist
A year after taking office Argentine president Milei cuts spending by 30% bringing inflation down from 25% to 2.4% in November 2024. All sorts of programs are cut that had proliferated over the years. The resut is that the economy shrinks by 3.5% in 2024, only to grow rapidly by 5% in 2025 restoring a more stable pattern of growth and moderate inflation. Throughout it's history Argentina has faced high inflation and economic crises.A similar pattern in Brazil was broken in 1998 after two decades of inflation. It reached 56% in January 1990 dropping to about 2% in 1998.

LyrArc Article Gist
In an effort to calm unsettled global financial markets ECB president Mario Draghi said in a speech on July 26, 2012: "Within our mandate, the ECB is willing to do whatever it takes to preserve the euro and, believe me, it will be enough." Yields on Spain's government bonds reached 7.5% as investors shunned Spanish bonds fearing the need for a government bailout.

LyrArc Article Gist
A proposal to transfer debt in excess of 60% of GDP of all eurozone countries into a single fund to be paid off in 25 years is gaining attention in Germany. It is seen as finding acceptance with Germany's Constitutional Court. Angela Merkel, the German chancellor, says eurobonds are unconstitutional in Germany. Germany calls instead for greater European integration and transfer of powers from sovereign governments to a European banking supervisory authority. In early June 2012 discussions continued in Berlin between Manuel Barroso, president of the European Commission and Angela Merkel of Germany. The German position is summarized in the words of German finance minister Schauble, when he said that Germany could not hand over its credit card to other countries.

LyrArc Article Gist
Whe American entered bankruptcy in Nov. 2011 shares dropped so low they reached 20 cents a share, putting the company's value at an incredibly low $90 million, less than one of its planes! Most shares bought in 2013 have multipled in value 13 times, as the stock surged 46% since opening to $35.98. AMR shares dropped to $2.06 when the Justice Dept. blocked the merger with US Airways in August and were at $7 for 2 months before the airlines made a settlement in November 2013.

LyrArc Article Gist
Reducing risk buffers to 5.5%-6.5% for India's central bank as recommended by former governor Bimal Jain helps to transfer $21 billion to the government as it copes with a bad loan crisis at banks and drop in credit and lending. This has hurt the economy reducing growth in early 2019. The RBI transfer will help stimulus and recapitalizing of banks as the Modi government copes with the economic deceleration to 5% growth in the last quarter.

LyrArc Article Gist
Wildfires that have burned 20 million acres in Canada in an area the size of Maine are affecting oil, lumber and tourism industries. Fires in Quebec have created a cloud of haze in cities as far away as New York and Detroit, and made its way across the Atlantic ocean to France for the first time. It used to be said that events in one part of the world affect us, now this is a reality and everyday life is affected.

LyrArc Article Gist
Theresa May's statement that parliament bears responsibility for the Brexit impasse is seen as an attack on parliament by MP's from both the Conservative Party and the Labour Party. May needs support of about 25 Labour MP's to make up for loss of Brexit hardliners, but has support of 3 MP's in the last vote in parliament. Her statement was seen as divisive and alienated all sides in parliament, the BBC reports.

LyrArc Article Gist
Airlines are not taking delivery of planes from Airbus and Boeing as travel on airlines remains restricted by a surge in the coronavirus cases in July 2020. Boeing delivered only 20 aircraft in the second quarter down from 90 in the same quarter in 2019. Airbus delivered 74 jets in the second quarter down from 227 in the prior year. This is straining finances for Airbus and Boeing. This affects suppliers such as engine maker GE. 

LyrArc Article Gist
India depends on oil imports for 85% of its needs. $110 a barrel oil imposes severe hardship in a country with a population of 1.2 billion people. Russian oil is offered at a $20-$25 discount says this report in DW.com. Higher oil prices are already making a recovery from the pandemic more difficult in India.

LyrArc Article Gist
Swiss hydropower is 12% less this year because of the hot summer and drought. In Spain and Portugal hydropower is down 20%. Switzerland gets 60% of its energy from hydropower and about 29% from nuclear energy, only 3% from fossil fuels. Water from melting glaciers are keeping some lakes at water levels close to normal.

LyrArc Article Gist
New Zealand makes a sharp swing to the conservative National Party which wins 39% of the vote up from 26%, with Labour Party dropping from 50% to 27%. Labour under Jacinda Adern elected in 2020 failed to deliver on promises of transformational change. The last time National Party ran the government was in the 1980's.

LyrArc Article Gist
A federal committee in the U.S. now recommends no more than 6% of calories come from daily sugar intake not the 10% that is is the current guideline. It is smart to be wary of guidelines set in a different period when Americans and people in other parts of the world were not enough health conscious as they should have been. Artificially high limits set in guidelines serve as a danger to health, particularly as experts say obesity is like pouring gasoline on fire in fighting the coronavirus. Take a look at mean consumption today and it is not even the 10%, it is 13% double of what it should be. Nearly two thirds of Americans aged 1 years or older consumed more than 10% of daily calories in added sugar. And 70% of U.S. adults over 20 years are obese or overweight according to 2015-2016 figures from CDC. Today the figures from Europe and Asia, Latin America are also alarmingly high for obesity rates. Added sugar comes from processed foods from soda and pasta sauce to cereal and yogurt, and honey, sugar itself. Sugar sweetened beverages are common and dangerous. A 16 ounce grande pumpkin spice latte at Starbucks has 50 grams of sugar or 10% of a 2000 calories diet. The committee in the U.S. wants to see people eat healthy diets and does not want to discourage healthy foods like fruit and milk which people are not eating enough. It wants to see a shift away from processed foods to foods that have good health outcomes such as fruits, vegetables, whole grains, and lean meat and poultry. The beverage producers such as Coca Cola and Pepsi are a major source of resistance , as are Confectioners association, and other producers that benefit from setting the guidelines at 10%. It is not that for 3 decades as the obesity levels rose to the shocking and dismal health levels of today that the ideas of what constitutes a healthy diet were not known. It was just that we as a people did not care enough to fight for what is safe and healthy against whatever resistance was put up by producers with their vested interests, just as we as a people did not care enough to to fight to keep local manufacturing in place and the jobs and healthy communities across our land. A gram of sugar equals 4 calories. For a 2000 calories a day diet that is 120 calories to stay within the 6% that we should not exceed. Make a habit of looking at each packaged product and add up the added sugar grams and calories. ...

LyrArc Article Gist
More doubts about the $200 billion program that will lend money to private investors to buy securities backed by student and auto loans, credit card debt and small business loans, called the TALF or Term Asset -Backed Securities Loan Facility. The Fed will provide these loans at attractive interest rates and provide an insurance policy for possible default of some of the securities, as investors stoped buying in October 2008. This is a vitally necessary step to keep consumer lending going as it collapsed in October. Lenders package these loans into securities and sell them so they can make more loans. See the link and graph on this. But will it stimulate purchases of automobiles and other items? It will keep the lending going but the problem lies in that lenders are asking for higher credit scores from consumers to make loans, and banks do not have confidence in consumers just as millions of consumers have damaged their creditworthiness by missing or late payments. And consumers are reluctant to borrow and make purchases. And while this is a necessary move to keep unclogging the credit channels in the system by the Fed and Treasury, it still means in actual practice to be a limited lending and borrowing to make the continuing slide in demand a continuing fact. Small businesses may fare better with credit unions which should pick up their lending. The situation with mortgage lending is again the same with higher credit scores required and millions of homeowners under water not able to take advantage of the lower rates to refinance. Cameron Findlay, the chief economist at Lending Tree says that at the end of the day it is not just about lower rates but also of qualifications with credit scores of 720 required and a down payment of at least 20%, at a time when unemployment is rising and wages declining. So he sees little or no significant meaningful impact....

LyrArc Article Gist
The Affordable Care Act subsidies are basically a band aid approach to a fundamentally broken health care system in the US, says Washington Post Editorial Board on Nov. 1, 2025. The 22 million ACA subsidies will cost $350 billion over 10 years. Democrats have the government shutdown over this issue of extending Obama ACA subsidies where enrolment increased in the covid and Biden years with generous subsidies. The Washington Post looks at how we got here since 1945, decisions made about employer insurance plans that created a patchwork of plans from private sector and other plans outside it with perverse incentives and inefficient subsidies. It calls the system stupid, and politicians looking to the next 2 year midterm elections wary of addressing the whole problem in the proper way for a system that will benefit all the people of the US.

LyrArc Article Gist
Japan believes it can get what it wants through the negotiating style it adopted with Reagan and then Deputy Trade Rep. Lighthizer. It won't work. There is a new US president who know's Japan's approach to trade, and the US has a lot more experience with Lighthizer and Jamieson Greer his deputy running negotiations with Scott Bessent, some 45 years later.

DJT to Japan: “Dear Mr. Japan, here’s the story. You’re going to pay a 25% tariff on your cars, you know? So we give Japan no cars. They won’t take our cars.”

US says it will just send that message to Japan in a letter if it won't negotiate a level playing field and fairness in world trade.

LyrArc Article Gist
Oil price drops by $5 in one day to $65 a barrel as Iran US/Israel ceasefire June 23, 2025 following the carefully measured Iran missile strike (14 missiles) strike on Qatar airbase with early warning to the US. The move was seen as a moderation shown by Iran, and DJT pursued the option of ceasefire with Qatar's mediation. An Israel Iran ceasefire is expected in the next 12 hours.

This closes a chapter of the nuclear weapons development proliferation pursued by Iran and blocked by Israel and the US. It started with Israel's strikes on Iran nuclear sites. 

This puts the attention back to the economy and completing the trade agreements under the Trump administration's tariffs and efforts to level playing field in world trade.