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Steven Lee Myers provides an exceptionally good report from Russia on the 2014 Sochi Olympics. He describes an effort by the Putin administration in Russia to develop Sochi which extends for 90 miles along the Black Sea, the only subtropical seashore in Russia. Here Myers interviews Pakhomov, a Putin supporter, who is Mayor of Sochi, to get a picture of how Putin supporters see this effort. Pakhomov says this part of Russia was never developed and foreigners have a poor view of Russia, with one westerner telling him that Russia had little except vodka and bears. For the first time the entire Sochi areas has seen a massive infrastructure effort with roads, railways and a new airport. Myers gets a different picture from Yulia Naberezhnaya, a scientist who is a Putin critic and environmental leader in the Western Caucusus, who he interviews after meeting at a bus stop in Sochi. Naberezhnaya heads Environmental Watch of the North Caucusus which sees the environmental laws being ignored in construction work. The country is divided with nationalistic feeling running high before the Olympics, and a friend of Naberezhnaya finding herself on the opposite side with work in the security services. She warns her to be careful- something Naberezhnaya says has Kafkesque overtones. Myers also meets Boris Nemtsov, a senior official in the Yeltsin government, who participated in street protests during the recent elections in Russia, and is critical of the money spent in this Olympics. Estimates of the money spent run as high as $51 billion, in comparison the Olympics in Beijing, China cost about $40 billion. Dmitri Chernyshenko, president of the Sochi Olympics Organizing Committee sees the project as one that unites the nation, while critics such as Nemtsov see it as a huge overspending and corruption favoring Putin's friends in the business community. Myers is acting Moscow Bureau Chief for the NYT and has done extensive interviewing for this report, including an interview with Vladimir Yakunin, head of Soviet Railways. Yakunin says his company's investment of $1.3 billion will take 20 years to recover but puts it on the scale of the Trans-Siberian Railway build by Czar Nicholas II, which helped bring Russia its current borders reaching to the Far East. And yet the question of cost is never far from people's minds, coming at a time when growth is slowing in Russia- emerging markets currency values incluing the ruble are declining and they are having a tough time attracting foreign investment. A member of the International Olympic Committee, Gian-Franco Kasper, is reported to have told Swiss SRF radio that about a third of the spending on Sochi was lost because of corruption and excessive costs....

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Nikola, US EV maker, files for bankruptcy in Feb 2025. At one time its value was comparable to that of Ford Motor. It shows how speculation can drive up stock prices and valuations that have not the remotest connection to reality.

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Sony's CEO, Kazuo Hirai, talks to WSJ staff in April 2015, on ways in which it has changed as it adapts to the new competitive environment. He says the basic DNA remains the same with its focus on innovation. What has changed is the sense of urgency, accountability starting at the top, and the ability to adapt quickly to the competitive environment. Hirai describes his personal life at home alone in his condo, with his family in California. He spends the quiet time on the weekends in the condo thinking over decisions to be made, testing the logic, and adds that he rarely changes once he has made up his mind.

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Bernanke in reflections on his policies for quantitative easing in response to the 2008 financial crisis, says the policies were intended to protect Main Street and the average American, even though this is not readily apparent. He says the policies did not lead to inflation as critics have stated, and one has only to look at today's inflation statistics to know this- referring critics to the government CPI report in Jan 2014 that consumer prices went up by 1.5% in 2013 and less than 2% for 2012. Bernanke says he hopes he took the right actions, and still retains the conviction that the American economy will recover losses from the 2008 financial crisis- even though the answers to this questions won't be seen for some time.

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Robert Kaiser, former managing editor of The Washington Post, reviewed this book on Joe McCathy in The Washington Post on August 7, 2020. It shows the link with today of Senator Joe McCarthy and Roy Cohn, the then 27 year old lawyer chief counsel of the senate subcommittee on investigation when Joe McCarthy became chairman in Jan. 1953. The book is-  Demagogue The Life and Long Shadow of Senator Joe McCarthy by Larry Tye. Roy Cohn passed on some of the methods used at that time to Mr. Trump. Kaiser points out that the senator Joe McCarthy assembled "a coalition of the aggrieved." Tye shows that it started with the junior senator from Wisconsin making a speech in West Virginia for Lincon Day dinner to the Republican ladies of Wheeling, W. Va. The senator used it to talk about threat of communists working in the State Department. He claimed there were 205 Communists. Today we know that this was just made up by McCarthy, at a time when Winston Churchill made the speech about the Iron Curtain in Eastern Europe and the Soviet Union and a sense of shock in America at the People's Republic of China being formed in 1949 under CCP chairman Mao tse tung. McCarthy saw this as an opportunity to gain prominence and a Senate career. What is seen from this carefully researched book is that for a while it succeeded in putting many of the Nation's best leaders on the defense. This includes Harry Truman, Eisenhower himself who disdained McCarthy's and Cohn's methods, Gen George Marshall who was a mentor to Dwight EIsenhower, Joe Stilwell, and other military leaders who ran the 1940's war effort under Marshall in Europe against the Nazis and in China against the Japanese imperialists. On the domestic side it included the head of TVA and the new Atomic Agency setup by president Truman. Gallup said at that time of McCarthy's 38% support in the US following his censure in US Senate by 67-22  -even if it was known that McCarthy killed five innocent children they would still go along with him. Tye writes that in that atmosphere similar to the sense of shock at China's rise and America's loss of manufacturing and falling behind in infrastructure by 2016, in that atmosphere if one told a small lie or big lie it made not much difference in public's penalty or censure, then why not tell a whopper of a lie. This became the ethic for a while in 2016-2024 similar to the period till the collapse of McCarthyism in America by 1957 with McCarthy's death in 1957 and in 1960 the election of John F. Kennedy. What is forgotten is that Richard Nixon a young senator from California was part of the group in Congress, so that in some shape or form it existed and remained part of the Reagan efforts to push back against the Soviets that led to wars in Afghanistan and then Iraq sapping the Nation's energies and resources and with faulty economic theory allowed China to dominate key industries and outspend America in infrastructure investment, creating the kind of shock that led to the second McCarthyist decade under Mr. Trump. ...

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The Adventures of Amir Hamza is a story much like the Odyssey but set in the Persian, Central Asia Islamic world. It was born as far back as the 9th century. It has a South Asian version since the epic is retold in different settings and has a oral tradition of being recited by dastangos who used to recite these myths and legends . Amir Hamza is supposedly the uncle of the prophet Mohammed. Its South Asian version is in the Hamzanama that was commisssioned with painted manuscripts by the Mughal emperor Akbar. It has 1400 illustrations and formed the basis of Mughal art which was a fusion of the artistic worlds of Hindu India and Islamic Persia and Central Asia. In those times the Persian speaking world extended from Tabriz to Hyderabad in south of India and the Hamza Adventures were told around campfires and in the outdoors. The Hamzanama paintings commissioned by Akbar were shown at the Sackler Gallery around the time of the Iraq invasion in the summer of 2002 and show a world long forgotten. The Saudi type of Wahhabi Islam and religious zealotry is a far cry from this more open world of art and legend and life in central, south and western Asia, of commerce, trade and ways of life intermingled and flow of people across a large region in Asia. What it may suggest is that the current wave of religious zealotry is a kind of phase that like a passing wind comes and then is dispersed, maybe its a reaction to western interventions, maybe a failed response of tradition with modernization, maybe something else, a clinging to old outmoded patterns in areas that are most left behind by change, with ethnic and other strife mixed in with it. No single or simple response to it makes sense and a lot of patience is needed. Conflict of civilizations talk and the like may simply be overdone and way oversimplified things....

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This report in Hindustan Times covers how India is conducting preparation for the world's largest vaccination campaign for 1.3 billion people. It shows efforts to tackle refrigeration of vaccine at points across the country.

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Volodymyr Zelensky is given the Charlemagne Prize in Aachen, Germany. After World War II the border town of Aachen in Germany where the grave of Charlemagne is situated, decided to set up a prize for leaders who supported European unity. Charlemagne is the king from eighth century Europe who united France, Italy, Germany and Eastern Europe into a European state, and supported the Carolingian Renaissance and revival of Christianity. Winners of the prize include Monet, Schumann and Konrad Adenauer. Giving the prize to Zelensky and the people of Ukraine is a way to symbolically bring the people of Ukraine into the European community of nations and do this in a solemn commitment with an "obligation of the highest ethical value." Present at the ceremony were Chancellor Scholz, the city officials of Aachen, Ursula Leyen of the European Commission and the prime minister of Poland. Scholz committed Germany to supporting Ukraine as part of the European family in an historic setting that goes back over a thousand years. Mr. Zelensky spoke in Ukrainian and said this must be the first time Ukrainian was spoken inside these walls in Aachen. Dr. Kurt Pfeiffer, its founder in 1950, set the goal of the Charlemagne Prize award- "the prize reaches into the future and at the same time embodies an obligation- an obligation of the highest ethical value. It is directed at a voluntary union of the European people's without constraint, so that in their new found strength they may defend the highest earthly goods- freedom, humanity and peace- and safeguard the future of their children and their children's children." ...

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Inflation infighting is the new term for couples pointing fingers at unauthorized purchases as families struggle to cope with the cost of living. The basket of food and services now costs $460 more this month compared to last year for an average American household, according to Moody's. Experts suggest that couples take some time each month to go over household expenses and items on their grocery bills to make better decisions. This could also led to better decisions on nutrition like that extra box of blueberries, that comes from eating out less and taking in fewer packaged food items that have extra salt and sugar embedded into them.

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US president Biden signs a broad executive order on July 9, that is directed at promoting competitive behaviour in the American economy, and taking action against companies that have anti competitive behaviours. It also aims to limit corporate dominance that then can lead to anti competitive behaviours. These types of behaviours puts consumers, workers and small compoanies at a disadvantage. The Biden plan stretches from the smaller items such as hearing aids and baggage fees, to the task of putting in place the first antitrust regulation on tech companies Apple, Google, Amazon and others. Industries Biden sees as needing help are agriculture, healthcare, shipping, transportation, technology, and labor practices that limit wages and mobility. In making the executive order the White House says it "will lower prices for families, increase wages for workers and promote innovation and even faster economic growth." As each step is taken by the Biden administration to help workers, families, women and children, the situation is a reminder of the actions taken by Franklin Delano Roosevelt at another period of crisis in the nation's history. The July 9 executive order will create a Competition Council as proposed by Tim Wu, special assistant to the president for technology and competition policy in the White House National Economic Council. The Compeititon Council task will be to get federal agencies to take action to promote competitive behaviours for the first time since the 1980's when Republican presidents Reagan, Bush, and Democratic presidents Clinton, Obama, allowed such behaviours in some industries to get entrenched. In Biden's own words "the rise of monopolies weaken labor." In each industry agencies will now have the task of pushing back against anti-competitive behaviours already put in place by companies. In agriculture it will help small farmers, in pharmaceutical sector it will help the American people deal with a problem that has no end in sight of high drug prices and practices that support this. In all areas of the economy the Biden plan is for a new coordinated effort across all the agencies of the government and under the leadership of the president, to restore the vibrant economy to what it was before the long deterioration through anti-competitive behaviours. ...

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The Cleveland address and question answer session on July 10, 2011, showed Janet Yellen at her best. She was applauded several times for her answers especially for her emphasis on clarity. One question was about the use of the term"quantitative easing," couldn't the Fed have found a better word? Yellen pointed out that the Fed at the time used "buying of long term assets" as the phrase for that activity, after the media referred to it as "quantitative easing." That term stuck and the Fed ended up accepting the use of the term to refer to the Bernanke Fed's program. Yellen also said the buying of long term assets was intended to raise long term rates, and was different from the effort in Japan of buying short term assets that failed to stimulate the Japanese economy. Throughout Yellen was entirely comfortable making clear what she had in mind. At one point she was asked about the IMF director Lagarde's statement that the U.S. is better off not raising rates in 2015, because of the uncertain economic outlook in Europe, China and other places. Yellen's response was that this was one more view that she considered along with the views of several other Fed governors who had different views and reading of the economic situation. She emphasized that the increase in the rates will be very gradual, a position very consistent with her earlier statements, and this made the long tem path of interest rates more important said Yellen, than the particular time when the Fed first raised rates. For her clarity, empathy, and sound grasp of the economic situation, few Fed chairman have come close to Yellen, as was evident in the audience's grateful response. ...

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The Nobel prize in economics was created in 1968 by the Swedish central bank and was not one of the original Nobels. The latest recipient is Paul Krugman of Princeton University, who also writes a column in the New York Times op-ed pages since 1999 and has been a critic of President Bush's policies. He is a student of Jagdish Bhagwati who is wellknown for his work on international trade. Krugman won for his work on international trade theory where he came up with more realistic models of what goes on in international trade compared to the traditional comparitive advantage model where each country produced what it was good at. Krugmanexplained why worldwide trade was dominated by a few countries that were similiar to each other, and why a country may import the same kind of goods that it exported. He also explained under what conditions trade would lead to centralization or decentralization of populations. He has done work in international monetary policy and theory for his dissertation as well as some of his more recent academic research and teaches a course on this subject and the international liquidity crises at Princeton. Krugman compared his wnning of the Nobel to Joseph Stiglitz winning in 2001 after which Stiglitz did not get an easy time from critics of his economic ideas, especially when he was critical of the handling of the Asian and Latin American liquidity crises by Clinton's Treasury Secretary Rubin and Treasury Secretary Sommers. At the time Kenneth Rogoff at the IMF was very critical of Stiglitz. Jagdish Bhagwati at Columbia University described Prugman's winning as the next best thing to his winning the prize. Both Bhagwati and Krugma have worked tirelessly Bhagwati for international trade and Krugman for traditional bread and butter issues for the working class espoused by the Democratic party....

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US China talks on trade hinge on fentanyl action on export from source material countries- fentanyl action with more American deaths 3 times the Korean and Vietnam Wars is allowed to be a trade negotiation by both sides. The abject failure of politicians and the media in not spotlighting the issue as one common to humanity and one that speaks for people, mothers and sons, daughters, in all races, in many countries, to defend justice and protect the weak. It shows that today's politics and culture is failing the People, the Nation, and the World.

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Of 190 billion pounds of companies and other assets in Britain that are controlled by China, 51 billion pounds are owned by the Chinese government, says The Times of London. This includes power plants and schools. This includes Hinkley C nuclear power station 13.2 billion pounds, Heathrow airport $2 billion 9% stake, university accomodation holdings 40% stake in UPP at 1.6 billion pounds, Thames Water 9% stake at 1.8 billion pounds. The new Chinese embassy is being built on the Royal Mint this 5 acre site in London being worth 255 million pounds.

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Bill Keller reflects on Mandela's contacts with and one time participation in the Communist party. At the time the communists were the only organization with whites supporting the ANC, as the ANC was completely black. The result in shaping Mandela's thinking were positive in his views for a multiracial South Africa. Communist type liberation ideology has also hadicapped African countries including the ANC party in that it has failed to bring in new thinking and different views. Keller brings special insights into this behaviour as he covered both the Soviet Union 1986-1991, and South Africa 1992-1995, for the NYT.

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A sad situation at the library system in San Jose with exorbitant late fees turning young people from low income families, immigrant children- the very group that needs to be integrated better into society with improved English language skills and a path to higher literacy and reading scores that can lead to college- turning these children away from libraries to avoid the late fee penalties. Parents with low incomes can ill afford the high late fees in the San Jose library system, and some residents keep a distance after being pursued by collection agencies, according to this report by Carol Pogash in the NYT. The situation is different in San Francisco which charges less in late fees, and with the openness of libraries in New York which counts more reading time in libraries as a way to pay off any late fees. The numbers are significant as this report shows 187,000 accounts at the San Jose library system, or 39 percent of all cardholders owe the library late fees. Compared to 50 cents a day for unreturned books at San Jose, San Francisco charges 10 cents a day for adults and no late charges for users under 17 years. Here the principal of Washington Elementary School in San Jose, Maria Arias Evans, and librarian Ms. Bourne, draw attention to a problem when 95 percent of the children attending the school qualify for free and reduced lunch programs. When America is seriously reflecting on the issue of lack upward mobility through education in 2016, better integration of immigrants into society, turning away young students from libraries is the last thing we need as a society and a nation. The digital and other divide in San Jose has never been so evident even from the outside. In March the German new weekly ran a story on San Jose and Silicon Valley satirically titled "Beyond Awesome."...

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Women in rural Zambia celebrate when they get new bicycles. Things that one takes for granted in urban areas in Zambia is really a struggle in rural areas. About 80% of Zambia's people live in villages about 2 kilometers from a road. Bicycles help people to cover a distance of several kilometers easily. A woman in Zambia uses it to make the trip of 7 kilometres with a milk delivery in half the time. She makes more money making this delivery by bicycle. For her this is making a world of difference. With bicycles come mobile phones shrinking the distance and making communication possible in areas that have struggled with ease of living for hundreds of years.

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The Irish prime minister Varadkar says it is time to move on. When he assumed office he was the first from an ethnic minority background to lead Ireland, the son of an Irish mother and an Indian immigrant father. He took Ireland through the crises of coronavirus pandemic, Brexit, and improved unemployment and budget shortfalls. Recently he accepted defeat on a referendum intended to remove language in the Irish Constitution on a clause about "a woman's life within the home." Disagreements over the language of the referendum led to its not getting approved on International Women's Day by about 70% of the vote with 44% of people voting. It suggest there was no enthusiasm and its relevance at this time was not understood. It is not clear why there was a need for this referendum in the first place to remove one text of the constitution that respects the role of family and mother's contributions in the home. During the pandemic for instance women played a major role, and sometimes took on a greater share of the burden. Efforts to have women's participation as shown in Japan and India does not require constitutional wording to be changed. Japan has done remarkably well and India is about to do this. And removing the wording about women's role at home, instead of encouraging or adding wording about women actively participating in the workforce and actions to make that possible, accomplishes little. Coupling this with a wording that includes gay families in the definition of family while removing the role of women in the family language seemed to be making changes that had little to do with each other. ...

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The threat of climate change is becoming real in China with drought and heat waves. The impact on agriculture is feared as it may affect the autumn crop. For the first time the awareness of climate change is taking on a new urgency, with state media reporting on it with new emphasis. China having to import grain would put pressure on world supplies of foodgrains. It is therefore imperative that China also join in support of keeping Black Sea ports of Ukraine free and able to supply Egypt and North Africa to reduce pressure on world foodgrain markets.  This could also help shorten the war with a return to work on  important goals of climate change, renewing homes and industry for conversion to renewable energy,  restructuring trade so that there is no extreme dependence, and social security, healthcare needs of the Chinese people.

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The Indian Supreme Court Bench of Chief Justice DY Chandrachud and JB Pardiwala rejected a petition of 14 political parties in India for guidelines to prevent avoidable arrest of political opponents, saying it is asking for special immunity for politicians.

"Ultimately a political leader is also a citizen, and as a citizen he or she is amenable to the same law."

"Once we accept that political leaders stand absolutely on the same footing as citizens of the country, they will face the same due process of law and are not entitled to a higher immunity than what is available under law."

"You (political parties) say there is selective targeting of opposition leaders. But at the same time you say you do not want any special treatment of politicians as they are only citizens of the country, they will face the same due process of law and are not entitled to higher immunity than what is available under law."

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Some of the most vulnerable populations in the world during coronavirus are in India, Pakistan, Bangladesh and the surrounding regions, in Mexico, Argentina and Brazil, and in African countries. This report looks at the increase in poverty in Pakistan and increasing food insecurity with food prices increasing. Government priorities are a concern says this report. Malnutrition is increasing with estimates ranging and some as high as 40% of children. A PTI official of the government is cited here as saying that it could be as high as 50% of children suffering from malnutrition. One of the problems for food insecurity in the Indian region going back to the famines during the British rule in Bengal and the famines in Bihar during Congress rule after independence is that supplies are lacking of foodgrains or that the incomes have fallen so drastically that people could not afford to buy food. Governments stepped in after independence to provide foodgrains at subsidized prices. These programs need to be pushed to the forefront and and international assistance needs to be sought. Planning minister Asad Umar points out in this report in DW.com that millions of Pakistanis are falling below the poverty line increasing food insecurity at a critical time. He gives estimate that one out of four Pakistanis have had their diets reduced. There is every reason to support efforts for cross border supply of foodgrains between India and Pakistan as humanitarian approach in the coronavirus crisis even as differences exist over border regions- as such differences exist all over the world over borders but humanitarian approach has benefitted the entire region during the Bihar famines after independence with aid from the U.S. Johnson administration. At that time in 1966-67 the seriousness of the situation in Bihar was only gradually and reluctantly accepted by the institutions, officials and governments around the world, says Cambridge University Press looking back on that crisis. And it is to the great credit of the Johnson administration that it launched the subsequent efforts for the Green Revolution and foodgrain production involving Norman Borlaug and the Indian government. Something of this type needs to be launched again across the region.   ...

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In a complete reversal of the situation in 2012 when Spain's and Italy's bond yields reached about 8%, Spain's 10 year government bond yields declined to 2.579% on June 8, 2014, according to Tradeweb. The ECB's efforts to fight deflation by injecting money into the financial system in 2014, and investor search for higher yields, is driving up the price of Spain's bonds and reducing yields below that of U.S. Treasurys for the first time. The period it took for this to happen- just 2 years!

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This analysis in The Times looks at the latest information on the omicron variant gathered in the UK and what it means for the capital London and the UK. It looks at the hospital admissions in January 2021 that could be expected in the UK compared to  January 2020. A big spike infections with a sharp fall is the scenario seen as expected based on experience in South Africa, with 2% of cases as hospital admissions as in the prior January, or in a "milder" scenario somewhat smaller percentage.

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Ford. will still make $8 billion to $11 billion this year even after losses of $3 billion in electric cars. By 2026 Ford says it will earn 8 to 9 percentage points in profit from EV's. Ford is basically investing in the EV industry now for the long run. It is also part of the effort to move away from fossil fuels. Government incentives and subsidies will help companies and buyers of vehicles make the transition to EV's to fight climate change.  Companies that have not invested in EV's such as Toyota risk falling behind in EV's at a time when climate change is a major priority for buyers and governments around the world. Toyota is moving to a new CEO who can better take up the challenge of EV's. Under the previous CEO Mr. Toyoda Toyota clung to a mistaken belief that hybrid cars were all that is needed to reduce use of fossil fuels. German, Chinese and US manufacturers are taking the lead in EV's and Japan has fallen behind.  WSJ has never favored government subsidies and is critical for this reason. Yet it is clear that in some situations such as fighting climate change, building infrastructure, and redesigning the supply chain, government has to take the lead. Eisenhower in the 1950's with a government led effort helped build the national highway system, the first in the world. Biden is making a similar effort on multiple fronts. The redesign of the supply chain comes after private industry without proper direction from the government over concentrated manufacturing in China with Japan as a supplier into China. Presidents Bush and Obama wasted time and resources better devoted to national priorities at home on wars in remote places such as Afghanistan and Iraq. President Biden wrapped up the war in Afghanistan and completely disengaged from an area that is of no constructive interest to America. Resources are now concentrated in the right way on real national priorities from manufacturing at home to fighting climate change, fighting the cost of living crisis and building better infrastructure for workers and families. ...

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Chile's new constitution was drafted after a vote on a constitutional convention in which many people not involved before and on the fringes of society including indigenous groups were elected. More than half are independents and from different groups of society not well represented before. As a result of this the lack of experience has led to enshrining every single right that one could think of instead of focusing on what the protests were about about - the pension system, unfairness in access to health housing and education in the way funds are allocated from the budget, and promoting fairness in government.  At this time there is no certainty that it will be passed. A 36 year old student protest leader Gabriel Boric is the president elected after two years of protests about the unfairness of the system that took shape under a constitution written by a military dictator Pinochet who ran the country from 1973 to 1990. Pinochet came to power in a coup that is common in the history of South American Republics such as Brazil, Argentina, Chile and other countries. During the period of the government of Marxist president Salvador Allende the country was polarized resulting in the military taking over.  If the constitution is rejected a new convention will be formed to write a new constitution. In following the Structure of the US, Canadian, or British constitution, or the Indian it is important to look at the document so that it will stand the test of time rather than simply enumerating the rights of man. It is also important to focus on how to make the basic rights such as food, housing and education be well funded and society to be run along lines of basic fairness in incomes, while protecting enterprise and industry that can create new wealth for the country. The large South American economies are mainly dependent on commodities for export and there is a need to fund new business sectors which are not in commodity products- copper in the case of Chile- so that the economy can develop in a way that funds progress in incomes. ...