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After rapid growth during 2021 home sales in the US are expected to decline by 10% in 2022, according to the National Association of Realtors. The rise of remote work and homebuyers seeking more space had pushed up sales in 2021 with low interest rates. Mortgage rates are now up to 5% in an higher interest rate environment having an impact on home sales. Higher median home prices with the median price of a home up 15% in March compared to the previous year, and 9.5% lower inventories are also having an impact.

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The median income in the US in 2024 is where it was in 2019 before the pandemic at about $83,000 with the upper 10% of the population making about $200,000 having a 5% increase. Median income means 50% of the US population makes above $83,000 and 50% below that. In 2024 compared to 2023 slight increase of about 4% for men compared to women, no change for white households, a drop of 3% for Black households, gains of 5% for Hispanic and Asian households, Census Bureau Report shows.

Overall cost of living prices at grocery stores, for automobiles, and housing rental, is what is impacting people the most and has left people in the lower half of the population with considerable anxieties about making ends meet. At $100,000-$150,000 incomes in the upper third of the population there is saving for colleges that have costs going through the roof and cost of child care that is causing anxiety.

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UK student survey shows 49% of students have  financial issues affecting their diet, missing meals or not having enough food or poor quality of food. It also shows 55% have financial issues that affect their mental health. Loans were falling short of covering living costs by 582 pounds a month in 2023, it was 439 pounds in 2022. Maintenance loans for students increased by only 2.8% in 2023-24 in Britain,for a maximum of 9978 pounds a year outside London. Shown here is an engineering student who gets up at 4am to do a supermarket shift, a law student who works 20-25 hours a week as a receptionist and missing one third of her lectures.

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After the disaster of the Japanese Fukushima nuclear plant in 2011 following a tsunami and earthquake chancellor Merkel made the decision to close nuclear plants. Germany will close 3 nuclear plants in December 2021. Decommissioning will take 20 years and 1.1 billion euros per plant. In 2022 Germany will have only 3 nuclear plants in Bavaria, Baden-Wurttemberg, and Lower Saxony, equivalent to power of 4 gigawatts from 1000 wind turbines. Gas prices are up 10 fold in 2021 as Germany makes the shift to wind and solar. Economy and Climate Protection Minister Habeck of the Greens party in the new German government sees a continuation of the policy removing nuclear plants and shifting to wind and solar.

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Greg Ip of the WSJ looks at the impact on the economy worldwide from the effects of variants of Covid-19 in 2022. He cites IMF estimates that global output will be 3% lower in 2022 than it had projected in 2019, with Western Europe and Latin America taking larger hits. US growth is distorted and disrupted with the effects of absence of workers from illness (5 million American workers not working in December 2021 because they were sick, or caring for someone sick or afraid of spreading it), supply shocks from supply chains, 7% inflation. The boost to productivity from digitization conceals the impact of an overworked and fatigue prone remote working workforce, says Greg Ip.

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Prime minister Modi's 5 commitments to get closer to net zero by 2030 will require making ambitious efforts starting from 2021. Modi cited Indian Railways as an example to be followed by the rest of industry and transportation, and homes, for the conversion to clean energy. Indian Railways, he told the COP26 conference, had set ambitious goals to achieve net zero emissions by 2030, cutting carbon emissions by 60 million tons from the 1 billion tons reduction of carbon emission Modi promised by 2030. The ambitious 2030 target of 500 gigawatts of renewable energy, mostly solar using new technologies, is another promise.  This Bloomberg report looks at India's energy mix today which is 44% coal, 25% oil, 6% natural gas, for a total of 75% fossil fuels, and the promise of 50% fossil, 50% renewable and other non fossil fuels hydroelectric, nuclear, that Modi made at COP26 Glasgow. Just as US and Europe, Japan, China have huge challenges ahead to make a massive transformation in record time, India faces the equal need to think clearly and embrace new technologies with speed and scale, and make the investments early for transformation. This is good for India to take on the challenge and venture out to seize the opportunities in new technologies that transform whole industries and a way of living that must be left behind. ...

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WSJ tells the story about Biden being slow to act in 2021 and 2022 to close the Southern Border, without telling the complete story and all the facts. Biden did close the Border in 2024 by executive order- when Trump blocked passage of Republican Lankford's legislation in Feb 2024 supported by Biden to close the southern Border. No mention is made that Biden was faced with a once in a century pandemic, winning the fight for vaccines over skepticism, and on Feb. 22 2022 Putin launching an attack on Kiev, Ukraine, and negotiating to get the crumbling infrastructure of the US rebuilt, funds for CHIPS and Science. On top of this the Venezuelan economy completely collapsed leading to an unanticipated migrant surge. Only FDR and Lincoln faced so many huge challenges and tackled them one by one. Without these facts the result can be to stall the biggest boom in manufacturing under president Biden/Harris that America has experienced since the space race in the 1960's. ...

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Even though immigration makes the headlines for the average German and daily German life polls and surveys show says the NYT that the main concerns center around a failing economy. For 5 years Germany has experienced little growth. According to Eurostat, Germany's GDP growth rate is 2023 -0.2% 2022: 1.37% 2021: 3.67% 2020 -4.1% Tankersley and Eddy report from Lutherstadt Wittenberg Eastern Germany. As Germany's economy slows companies may move jobs and manufacturing to Austria and France says one CEO of a company that makes fertilizer and additives for diesel motors. This could lead to loss of 10,000 jobs in an already depressed region. The problems faced buy German industry are increasing with higher costs of energy- even after prices have come down energy is 20% costlier than the European average according to Eurostat. Industry leaders say this is the result partly of efforts to reduce fossil fuel emissions. Increasing competition from China means Germany cannot compete as before. Investment in public infrastructure has not kept up with crumbling roads and bridges and a rail system with underinvestment and plagued with delays. Investment in digital technology has lagged behind China, India and France.   ...

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DJT defuses the situation after weeks of wrangling with Petro of Colombia. This follows US blockade of Venezuela and reaction in Brazil, colombia and Mexico. US president DJT talks to Gustavo Petro of Colombia, January 7 2026, and invites him to talks at the White House. Petro is nearing the end of his term and Marco Rubio says the US seeks good relations with Colombia.

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US 15 year security guarantee or 30 years discussed in 20 Point Peace Plan at Ukraine US DJT meeting December 29, 2025. Ukraine says US has proposed 15 years, Ukraine wants 30 years. The war has lasted 15 years. A free economic zone in Donetsk region proposed by the US. Talks simultaneously with Ukraine and Russia with a referendum in Ukraine to get agreement to the deal.

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Nutrition critical for health is only now in 2026 being made part of Medical School curriculum with efforts of RFK Jr.  It took so long and in the meantime several generations of Americans have suffered from obesity and poor nutrition, higher incidence of diseases stemming from poor nutrition, and the overuse of pharmaceuticals. This also made medical care more costly, increasing the medical cost burden for families.

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Benchmark jet fuel at $1838 on April 16 2026, compared to $838 before Iran War. The need to replace 50% of EU fuel imports from Middle East to last 6 weeks till June. At 75% replacement OK till August. US and Nigeria provide alternative supplies to Middle East sources of jet fuel. Airlines could feel shortages it it is not replaced. Jet fuel is 20-40% of airline costs.

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Hungary under newly elected government of Magyar in 2026  to receive 18 billion euros of EU funds frozen for several years because of Orban's policies. Magyar needed 133 seats in parliament for a majority to change aspects of the Constitution modified by Viktor Orban. It now has two thirds of the seats in parliament to restore rule of law and take action on corruption.

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Tens of millions of migrant workers head back to their homes in poorest states as LPG cylinder prices quadruple and are in short supply April 13, 2026. This piece in Le Monde shows how India which relies on imports for 60% of LPG supplies used for cooking in a country of 1.4 billion people is affected by the actions of nations in Middle East interrupting open seas navigation. 

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SCOTUS decision on Voting Rights Act by knocking down gerrymandered district in Louisiana, April 2026. Republican States are redrawing their maps so that they are no longer gerrymandered (altered) to favor race or gender. The US Supreme Court supports this in Louisiana and this will mean 1 seat  in Louisiana and 4 seats in Florida may be gained by Republicans for the House in the midterms.

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With gasoline prices at $4.66 a gallon, $1.45 higher than the national average California governor Newsom is accepting a change to slow the transition to alternative fuels. Many refineries in California are planning to close. Relations between Chevron and the state government are improving but there is a long way to go to make a smoother transition to giving price relief to the public with the declining production in the state over two decades. In 1990 California oil production was at about 900,000 barrels a days by 2000 this had dropped to 700,000. By 2025 about 300,000 barrels a day.

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This report in WSJ shows that remote work is a lasting trend because companies can now hire talented individuals from anywhere in the country or the world, and pay less for the same talent. In the past talented individuals were attracted with high pay packages to cities such as San Francisco, Seattle, New York, Boston and Los Angeles. Companies can now choose to avoid paying these high pay packages and have a broader talent pool to choose from. This is because these cities became costlier and less attractive with cramped apartments relative to the choices for remote work. In the example cited here a machine learning expert shifted from a small cramped apartment in San Francisco to work for Twitter from a small town named Katy in Texas where she has a 5 bedroom large apartment and a nicer community of 20,000 people to live in west of Houston. One in 8 jobs posted on Linked In as of August 2021 are for remote work, many times the percentage of remote work job postings in 2020, showing this trend is here to stay. There is a large shift of millions of workers in tech related fields exiting the cities of San Francisco, New York, Seattle, and Boston for smaller cities in other parts of the country such as Utah, Texas and other states in the US. A similar trend is observed in Europe. America's professional classes are moving to hybrid or remote work in large numbers says this report in WSJ. At one point in 2020 about 35% of workers in the US or 50 million workers were doing remote work during the lockdowns. In August 2021 this figure is closer to about half of these workers even as workers return to work offices. It is believed that the BLS statistics understate the number of remote workers at 20 million and 14% of workers in August 2021. Large crowded and hugely expensive cities are no longer attractive for employers or for tech employees or professional workers. ...

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Koch Industries which is built on oil is investing heavily in electric batteries. The company has made 10 investments of over 750 million dollars in the US battery supply chain and electric vehicles in 2021-2022. This money is coming at a critical time for many new battery company startups.

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The sharp drop in oil prices from the Saudi decision to increase output and cut prices is putting the U.S. oil shale drilling industry in a difficult position. About $200 billion in debt is coming due in the next couple of years for oil shale drillers who made large investments to get U.S. oil production up to 13.1 billion barrels per day by Feb. 2020. Most U.S. oil shale producers cannot make a profit at the oil price of $34 a barrel after oil price declines on March 9, 2020. At $34 these producers can no longer find it economical to extract oil.

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Episode 121 of Mann Ki Baat by PM Modi of India on April 27, 2025 covers a range of subjects from the economic advancement of Kashmir region and the efforts to disrupt this economic progress, to the fight for freedom at Champaran and the role played by Rajendra Prasad. It looks at the British rule in India forcing farmers in Bihar to destroy their land's productivity by planting indigo to meet British traders demands. This was leading to farmers and their families starving for lack of food till Mohandas Gandhi took up the struggle to help farmers with the first test of Satyagraha struggle.Modi describes the months of April as a period of independence struggles from the Jallianwalla Bagh massacre by the British in the Punjab, and the Dandi March from the sea to protest British Salt Tax. Modi describes the efforts to aid Myanmar in earthquake relief, and vaccine aid to Nepal and Afghanistan. He talks about India's scientific mission to Moon, Mars and its 106th launch of space satellite flights. He describes how science is attracting the nation's youth and its imagination as even in Chhatisgarh science centers are attracting young people. This gives a good sign about the future for modernization of the biggest nation in the world. ...

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1.2-2 million barrels a day go from Iran's Kharg island through Straits of Hormuz for ship to ship transfers in South China Sea, then labeled Emirati oil and unloaded at refineries on Shandong coast. These refineries are called teapot refineries. In this way US sanctions are avoided. Shipments of oil were about 700,000 barrels a day before 2023. After 2023 this more than doubled. China gets this at a 10-15%  discount costing Iran about a third of revenues it would otherwise be able to sell this oil if it decided to work with the US in a new arrangement. This report in FR24 shows China as limiting it's relations with Iran to oil, careful to not let it affect more important trading relations with US European Union, and Germany. This is similar to the situation for Venezuela -which under a new arrangement the US has with Venezuela- now gets market prices for its oil increasing it's revenues substantially by about one third to benefit the Venezuelan people suffering from high inflation and economy wrecked by sanctions. ...

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Is Norway endorsing the position of a former president of the US to "Drill, Baby Drill.?" It would cost upwards of 1 trillion dollars to fix US inaction on climate change to 2028. Norway is drilling like crazy to help Germany tackle the cutoff from Russian oil and gas supplies. It is also pursuing climate change action and green energy. The result is some confusion about where it is heading. The Guardian comments on this position taken by Norway. It can only be seen as oil and gas meeting a transition period's needs, yet with the severity of cliamte change events in the form of fires and floods in the world in 2024, is this a tenable position? Norwegians will say their cleaner fossil fuel production takes the place of dirty coal plants in Europe. How could Germany manage without Russian oil and gas without Norwegian supplies they ask. Others say Norway gets a quarter of its GDP from oil and gas. It is at the same time the country that is way ahead in renewables, most of its grid runs on renewables. And yet it has cut greenhouse gas emissions only by 11% since 1990 4 times less than Germany. Norway will come up for more criticism considering that its push on fossil fuels in 2023-24 is reducing investment for shift to a fossil free world. It is not an issue that can be talked away or not confronted head on as it is the harbringer of something worse- doing nothing for 4 years to 2028 that is proposed on the back of stuff that is being done by Norway- a US presidential candidate promising to relegate climate change action to zero by denying it exists and by saying "Drill, Baby Drill," at the RNC Convention in Milwaukee. ...

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For groceries cost limiting Trump proposes nothing. It was found in the EU that there was excessive price action by grocery stores in 2022 and 2023. Though experts say no for price setting by government, the deterrent effect of a policy of the government to not set prices but to send a clear message about excessive profit as anti-social behavior, has beneficial impact for price reduction or future price increases to be put on hold. Harris will do this. For child care costs. Trump proposes nothing and does not put children as the next generation of Americans at the top of priorities. Harris puts children as the top priority and early years development as critical. Harris proposes a child tax credit of $6000 per family that would cost $110 billion per year estimate from Office for Responsible Budget, offset by Medicare savings achieved by negotiating with Pharma of $36 billion a year, tax on billionaires at 25% instead of 8.2% saving $40 billion a year, for net cost of $44 billion a year the Harris $6000 Child Tax Credit.  Congress including Democrats failed to extend the $3600 tax credit per child below 6 years that was introduced after 2019 yet allowed to expire in 2022 reverting to $2000 per child under 6 years. The concept is accepted as helping children, Vance the Republican VP nominee has suggested $5000, only opposed by country club Republicans oblivious to the importance of children having free school lunches and parents having the money for child care added costs for the future of the children of this Nation.     ...

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Governor Hochul of New York was only able to increase the minimum wage by 2 dollars in New York to $17, up from $15, by 2026 in New York City, Long Island and Westchester. It would go up to $17 in the rest of the state by 2027. Assembly Democrats had asked for $21 saying that Seattle and Los Angeles offered a higher minimum wage.  Future increases would be pegged to inflation.