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Going to a baseball game or a cricket game, a soccer game or basketball game, used to be part of the experience of growing up as a child not only in America, but in many parts of Asia since the 1950's. Sports organizers are failing the public and the Nation, many nations, when they let prices keep out the vast majority of the young people from sports games. This is true of the New York Knicks games in 2026 with the San Antonio Spurs, with tickets transport, everything going up. Here DW.com asks important questions about the FIFA World Cup. Most of America's younger generation, the vast majority of children will be excluded from these games. DW.com writes about the cheapest ticket listed on the FIFA website at $8625 and one ticket listed for $690,000. When told the cheapest ticket for the first Paraguay US game was $1000 US president DJT said it was "ridiculous," that he woudn't pay that either, and expressed real disappointment. DW.com raises other questions about the sudden 50% increase in teams and 60% increase in games for the World Cup in 2026. Teams suddenly up from 32 to 48, and games from 64 to 104. If more smaller football associations or countries were to be added, would it have been better to try this out in smaller steps? Has this diluted the sporting quality of individual games. If more games why would prices jump this much? Last World Cup the average price of a ticket was the same as the list price and no resale markets to create artificially high prices in the stratosphere driving out most buyers. ESPN looks at he process that set these prices in the adjoining piece. ...

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The ECB and the Bank of England cut interest rates to near zero.

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Britain cautiously reopens some primary schools in the beginning of June. Only about 60% of teachers are ready to go back in June. Some schools are reopening but are using this as a way to make preparations for reopening on a wider scale later in June.

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China raised one year lending rates to 5.85% from 5.58% to slow bank lending in China. Rates on deposits at Chinese banks are at 2.25%. The central bank let the yuan rise by 2.1% against the dollar in July 2005. This reflects a careful management of inflation and calls for further appreciation of the renminbi.

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China raises $3.7 billion in a 3 part deal in euros by issuing bonds worth 4 billion euros, for 5, 10, and 15 year bonds. Yields were a negative 0.152% for 5 year bonds and 0.32% and 0.66% for the 10 and 15 year bonds. This is the first time China has sold negative yielding bonds. Moody's projections show China public sector debt is at 185-190% of gross domestic product in 2020, up from 167% in 2019.  

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Years of poor funding of public health departments in the US, Europe, and other countries have left public health departments lacking basics, lacking staff and resources. Here the WSJ shows how this has affected Alabama in the southern US. Alabama has the slowest vaccination program in the US with 10,000 doses given per 100,000 population. Positivity rate is very high at 29.1% for coronavirus, one of the highest for positive coronavirus tests in US in the past month of  Jan. 2021.

A large portion of the population of Alabama lives in rural areas. These rural areas are some of the worst hit in healthcare in the US. Since 2009 7 hospitals have closed in Alabama resulting from poverty of patient populations and population loss. This is part of the general erosion of rural healthcare infrastructure across the US in the last 20 years. A problem that now faces the Biden and future administrations. to tackle the problems of rural US communities.

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The prospect of higher interest rates in USA according to Bill Gross of PIMCO as the supply of Treasury bonds overwhelms demand and as the government ends support programs in housing and other areas.

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US existing home sales were down 18% in 2022.

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Fed's Powell sees only a temporary slight effect of DJT tariffs on inflation to 2.7% in 2025 that he says can be "looked through without action by us." Fed will wait for clarity in coming days and weeks. Powell says in March 2025 “It can be the case that it’s appropriate sometimes to look through inflation if it’s going to go away quickly without action by us. And that can be the case in the case of tariff inflation.” Tariffs are intended as they were in the first term of DJT and retained by Democrats led by Biden to create a level playing field after hidden subsidies by China, and to rebuild American manufacturing. New investments in manufacturing and in infrastructure supported by both DJT and Biden have brought new hope and vigor to comunnities and towns across America. For far too long as Powell understands textbook economic theory at Ivy League universities that had no connection to reality was used by American business to turn its back on communities and towns across the 51 states and the Nation. ...

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Two things happened last week. The yields on mortgage debt rose sharply, with debt from Fannie Mae yielding 1.8 percentage points more than Treasury bonds of same maturity, which compares with a 0.7 percentage point spread over Treasury bonds in September. Investors including foreign central banks are shunning Fannie and Freddie debt because of uncertainty about the government backing and other forms of debt such as bank borrowing backed by the FDIC has explicit government guarantees. As Fannies and Freddie borrowing costs rise so do mortgage rates. Beginning next week December 1, 2008, the Fed will start buying $100 billion of debt issued by Fannie and Freddie and it also plans to buy upto $500 billion of mortgage backed securities guaranteed by Fannie and Freddie, and the Fed will hire private asset managers to manage this portfolio of investments. By doing this the Fed hopes to lower yields on the debt and bring down mortgage rates to help people buy housing. Teh second thing that happened is that according to Treasury Secretary Paulson the market for securities backed by consumer debt came to a halt last month making it impossible for consumers to get financing for everything from college to computers. This would lead to disastrous results for the many industries and companies that rely on consumer finance to sell their products. this in turn would lead to rising inventories and layoffs, something the auto industry saw happen as financing dried up and sales for GM collapsed dropping over 40% in October, over October 2007. The solution with the support of Treasury the Fed will provide upto $200 billion of financing to investors buying securities tied to student loans, car loans, credit card debt, and small business loans. This should help lower interest rates on these consumer loans and help maintain consumer lending. The Treasury will assume the first $20 billion in losses from this program. ...