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The last thing we want to do is to bring back the images of the 1953 American sponsored coup, which ousted Prime Minister Mohamed Mossadegh and returned Shah Pahlavi to power, says Senator John Kerry in an op-ed article in the NYT. He cautions America getting involved in Iran, letting Iranians decide on their own, as the CIA supported coup that overthrew Mossadegh's elected government and put a king in his place because he would be more friendly to American oil and other interests in the region, may arouse bitter memories of America's influence in avery negative way in an earlier period. Most Americans may not remember the American sponsored coup. Mossadegh was a socialist during the Cold War and wnated to nationalize the oil industry run by foreign companies in the country. During those days the interests of American oil companies, the Cold War with the Soviet Union, and British-French colonial era interests in the Middle and Africa and Asia, were all intertwined. The Korean war had just ended, Suez crisis of 1956 with the nationalization of the Suez Canal by Egypt, was a few years away, the French were fighting to keep their colonial empire in Vietnam, and America was supporting Pakistan with Sabre fighter jets bringing a version of the cold war to the Indian subcontinent even though India was the largest democracy in Asia. Partly because its leader Jawaharlal Nehru, was an independent minded socialist, who avoided joining the cold war with his non-alignment policies. Adlai Stevenson, Democratic candidate for President against Eisenhower was very enthusiastic about Nehru in his speeches, but Republican Secretary of State Dulles saw things differently, just as today there are huge differences between the way a Rumsfeld and an Obama see the world. Many of the problems today in places like Pakistan Afghanistan, Iran and Iraq had their beginning during this period....

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Ranil Wickremesinghe of Sri Lanka, both Finance Minister and Prime Minister during this economic crisis, says to The HIndu in this interview- "It's hectic, this is a new experience. I am working eight days a week." He says he will firm up the staff level agreement with the IMF by June. Then he says comes the debt restructuring plan that gives a clear indication of what Sri Lanka has to do. By July there will be also the interim Budget.  He said "I must say that Indian assistance has helped us get through these difficult times." He says in addition to the $3.5 billion he is hoping to get another $500 million assistance for fuel. On austerity path Sri Lanka faces he says we have agreed with the IMF that vulnerable groups will have to be supported. He said if we look at what are called tough conditions, even if the IMF were not there, we would have to do it. The advantage of going with the IMF, you get something or everything. If you were to do it on your own you get nothing. On austerity he said yes there has to be austerity but we want it to be for the short term, so that even if 2023 will be a difficult year, in 2024 we can start moving. On the Adani investment of $500 million and Mr. Modi, he says  that he emphatically welcomes it. We need it at this moment and it is a good sign that investors are coming in, said Wickremesinghe. Look he said if anyone else in India wants to invest another $500 million I am not objecting. He said Sri Lanka needs to use its potential for wind energy which is big. ...

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Banks in the US are moving away from cryptocurrency and shunning connections with the cryptocurrency business after a regulatory crackdown by the SEC and public warnings about its future. Banks are reevaluating exposure to the crypto sector no matter how small, says this WSJ report. In early 2020 the regulatory agencies were not vigilant enough about this sector which is now seen as highly risky and not for the private sector- digital currencies being the province of central banks just like the US dollar which is issued with the backing of the US government. The Federal Reserve website says about CBDC, Central Bank Digital Currency in highlighted language.- "Like existing forms of money the CBDC would enable the general public to make digital payments. As a liability of the Federal Reserve, a CBDC would be the safest digital asset available to the general public, with no associated credit or liquidity risk." It is because the US Congress failed to act and a prevailing culture of laissez faire, failure of regulatory agencies to act quickly that allows this to happen, that the private sector was allowed to dabble in what is clearly the province of central banks. Laissez faire is originally a French word meaning "allow to do" which has been taken to extremes such as letting private sector issue digital currencies in the prevailing culture. The Fed's Lael Brainard, Jay Powell, Treasury's Janet Yellen did not come out saying what the Fed's website now says and highlights that the only safe digital asset is the central bank's digital currency. Compare this with the caution taken from the beginning about crypto sector by India's finance minister Nirmala Sitharaman and the head of the central bank of India the RBI Mr. Shantikanta Das. ...

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Shehbaz Sharif 70,  is the younger brother of a three term prime minister of Pakistan Nawaz Sharif. He ran Punjab province, the country's largest state when his brother was prime minister. In this way he brings substantial experience to the problems of the economy that now face many developing economies such as Pakistan.  First on the agenda is to normalize relations with the US, rebuild ties with India, and restart negotiations with the International Monetary Fund. Pakistan faces severe inflation of 14% and devaluing currency that makes imports costlier as the foreign currency reserves have dropped to alarming levels of $24 billion when annual import needs are at about $56 billion. This has a direct impact on cost of living, standards of living and on industry. Shehbaz Sharif understands the situation and has said restoring the economy "will take effort, effort and more effort." A similar statement has been made by Mr. Modi in Hindi "sab ka viokas, sab ka prayas" which also mean effort, effort and more effort, which all of South Asia and Bay of Bengal, and South East Asian countries needs considering the impact of Covid pandemic, and now inflation from the war in Europe hitting food supplies. The situation is grim in other parts of South Asia- in Myanmar, in Sri Lanka, in Thailand, Malaysia, Vietnam, Indonesia. The popular sentiment is also shifting as seen in the Indian part of the old British Punjab province. Mostly Sikh this part of old Punjab state in India made a complete change bringing in a new party Aadmi to improve the economy and provide good governance. In this situation all governments are expected to deliver on good governance and the economy.   ...

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Hear the complete speech of German Chancellor Scholz to an extraordinary session of the German Parliament on DW.com. This may be the most important speech in the last 30 years of German history since reunification. An extraordinary speech that sets the tone for the new Europe that Germany leads with its partners in the European Union. Fundamentally Scholz tells the German people that Germany is fighting alongside Europe for its freedom and democracy, so that the last 30 years of peace are seen not as an exception in history. Germany will not let Putin take us back to the imperial wars of the 19th century, Putin told parliament. Scholz tells the German people sending arms to Ukraine "was the only response possible to Russian aggression." He also tells them that it was not the Russian people, it was Putin who had launched this aggression. "This is Putin's War. Putin is destroying the European security structure." "A peaceful free Europe, we will defend it." This is the way Scholz finished his speech. Scholz outlined 5 actions Germany was taking including actions on investing $100 billion in Bundeswehr armed forces, in strengthening NATO capabilities, in building up Germany's technological capabilities, in 2 huge natural gas terminals. The entire German parliament stood up to applaud for a long time as Scholz described how Germany was with the Russian people who braved arrest to protest Putin's War, and there are many, many, Russians who do not support the war. Reconciliation with Russia remains a building block of German policy he said.   ...

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What happened on September 10, 2024 in the Harris Trump ABC television debate moderators David Muir and Linsey Davis? It is hard to prepare for a debate, things can go wrong, unanticipated situations may arise. 67 million audience, 51 million for Biden Trump last debate, it can stress you out- UNLESS you Trust your authentic self knowing people can see through you if you are not honest forthright and stating it clearly. Harris could say she did approve fracking now as policy action she cast decisive vote for new oil leases. I am from a family like yours struggled with a single parent mother, ("not $400 million platter")I also support small businesses. If the other side is telling lies prolifically, make it clear vigorously yet with it not changing your demeanor and your focus on housing, cost of living, experience for NATO "from the same old playbook" and a warning about the lies to come to prepare the audience very early. Save the time responding to insult to use every moment constructively to define your message for the question at hand which is in addition to the questions put to you which are merely for organization immigration, crime, economy, cost of living, chips and science competition, Ukraine, Afghanistan. Harris said nothing about "Marxist economic professor father, other personal insults just acknowledged "It is a tragedy," don't you think fellow citizens? What would 4 years be like under Harris? (and 4 years under Trump?) Here's my plan for housing, for not starting trade wars while letting chips and science help competitors as Trump.   ...

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German management consultancy Roland Berger says in astudy that the cash for clunkers plan in Germany is likely to backfire by pulling in sales from 2010. It says car sales in Germany may fall by 20% in 2010, about 90,0000 jobs may be lost, and one in 2 car dealerships could be threatened with failure. GDP in Germany it says could take ahit. Roland Berger's partner Ralf Landmann says the German car market is good for 3.0 to 3.3 ,million cars per year. With sales in 2009 expected to be at 3.7 million, the forecast for 2010 are at 2.7 million to 2.8 million. Economist Carsten Dreger of DIW research institute in Berlin goes further. He says the cash for clunkers program was cannibalizing sales of other consumer products, in addition to taking sales from 2010.

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After the debt swap of old bonds for new bonds with private bondholders for an estimated 53% haircut, the IMF's March 2012 report on Greece says a lot remains unresolved. It predicts a "disorderly exit from the euro" without further help. The April 2012 elections may result in a dilution to committments to austerity policies in Greece, as these policies are highly unpopular in Greece. Greece is still "accident-prone." And competitiveness issues may take over a decade to resolve.

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A virtual meeting for 2 hours with premier Li Keqiang and president Xi for one hour by EU president Leyen leads to no assurances from China that it would not support Russia's position in the Ukraine conflict.  As part of the Merkel administration in Germany Leyen deepened economic ties with China and Russia. This combined with the fraying ties with China and Russia under the Trump administration and continued under president Biden may have led to the situation today where these ties are being reversed. The situation of assertiveness by Russia and China on territorial issues such as Hong Kong, Taiwan, Ukraine, and competition with China while US and European business is heavily engaged in China may have created the situation faced today where abrupt changes are happening. This report by the WSJ says European Union is seen as a buffer in its heightened competition with the US, and China is making an effort to salvage its ties with the European Union. ...

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An unregulated social media may be the real issue. The states of Texas and Florida may be posing the wrong issue and are better off arguing for proper regulation of the social media companies. The social media and internet companies by fighting necessary regulation are saying they will be the regulators putting themselves in an position they cannot be in. The Supreme court then is addressing the wrong issues. It is Congress that has failed to properly regulate social media content even when it has and continues to pose a threat to the civility and willingness to listen to other people's opinions and respecting differences that is essential for democratic forms of government. John Kennedy confronting Cold War adversaries was still of the view that in the international scene one had to live together and cooperate wherever possible. Ultimately it is the public that has to reach this level of civility and educating the public on civics is an essential priority of the country. ...

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As seen in the campaigns of Gretchen Whitmer for Governor western Michigan and Kalamazoo are critical in 2024. Michelle Obama joins Kamala Harris at an event in Kalamazoo in the closing days of the campaign. 

Speaking about women's health and pregnancies Michelle Obama was passionate in her words in Kalamazoo speaking to men and women-

"Consider the harm that is done when a government keeps revoking the basic care from its women."

“I am asking y’all, from the core of my being, to take our lives seriously. If we don’t get this election right, your wife, your daughter, your mother, we as women will become collateral damage to your rage.”

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Picture of a weather sign outside a Pharmacy in Paris shows the heat wave hitting Europe- the Temp. 44 degrees C. This is 111 degrees Fahrenheit. In places loike Seville, Spain the temperature can get even hotter. Europe is woefully under airconditioned with many hospitals and public facilities lacking airconditioning. The US is far ahead in airconditioning. Conservative parties in Europe are accusing the liberals in power of not doing enough. In London Sadiq Khan is Mayor and housing construction rules require considering other cooling design options before putting in air conditioning. Some members of parliament call this "ridiculous."  In France the opposition parties say the government "is out of touch." Consider government views in France. Energy minister Agnès Pannier-Runacher says heat from large-scale air conditioning would make heat waves worse. “It’s a bad solution, We should air-condition for vulnerable people to give them a break, but on the other hand we shouldn’t do it everywhere.”  ...

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At the core 66% of people in the US, UK and in Germany, 77% in France, Italy and Spain  in Pew Research in 2024 see the need for big economic changes. Inequality increase are often automatically seen as correlated with deterioration in standard of living. However in practice cost of living concerns and opportunity to do something about it can move in the opposite direction to inequality increases. Cost of living can improve based on gas and electricity prices and access to housing with lower interest rates independent of whether government is or is not intervening in the economy. Some interventions may not work as in the supply side shocks in prices from Covid lockdowns or simply exhaust people's patience without sufficient timely correction. A disquiet index can also move in a different direction from inequality increases when cost of living raises disquiet levels for people, and cultural issues such as transgender in schools create  additional disquiet. Failure to get bipartisanship may leave inequality issues unresolved as happens with one group student loan borrowers stuck in repayment.  In this sense inequality is only one goal and can be elusive if the overall goal of reducing disquiet index are left unresolved. A better quality of life can be achieved in other ways- as with the effort for "a rising tide lifts all boats." This can include the ripple effect of international politics where issues spill over into the US creating cultural disquiet on campuses as happened in 2024 with Israel Gaza conflict. The interplay of local and international starts adding complexity that adds to disquiet index for people in all levels of society.   ...

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About 105,000 airings of ads on immigration making up 42% of all Republican ads in battleground states are on the Immigration issue since Harris became candidate July 22, according to WSJ analysis. WSJ polling shows 59% of respondents favored the bipartisan Senate deal negotiated by Republican Senator Lankford with Biden which Trump rejected in February. This deal would have effectively closed the Border, added Border Patrol resources, and would have passed says Lankford in NYT if it came only 3 months earlier in December 2024 before Mr. Trump won the primaries. Mr. Trump rejected the deal preferring to run on it, leading to action by Biden to do this with executive orders and cut illegal entry. This means less advertising for discussing the Economy and less for Inflation, which is the top issue says WSJ polling, immigration coming in second.   WSJ cites the Congressional Budget Office on the number of legal migration in the Biden term as 4.5 million, and illegal entry at 4.5 million. Instead the Trump-Vance Republican campaign is using the figure over 4 times that for illegal migration of 20 million without saying why and makes less distinction between legal and illegal entry, says WSJ. And makes statements that economists say is not the case that this will solve the housing supply and cost crisis, and other cost of living pressures. ...

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Much of inflation's rise in the US has been transitory after all, says Greg Ip in the WSJ, yet credit Jay Powell at the Fed for his resolute fight against inflation. Gasoline that was over $5.00 a gallon in June when inflation was at 9.1% following Russia's Ukraine war is now $3.27 according to AAA, and this is an important reason why inflation is at 6.5% in December 2023. Demand for autos after pandemic and lockdowns coupled with supply chain problems caused auto prices and used car prices to rise sharply. This is now reversing with price declines. Ultra low interest rates caused a jump in home prices- this is reversing with Jay Powell and the Fed increasing interest rates sharply.

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Iran's (IRGC's not the people of Iran who are protesting) strategy in talks is to stall peace talks, to use the help of global media which is creating perception for Iran, and see if the strategy of no nuclear materials turned over to Russia or some other country, see if that strategy works. This is  what German Foreign Minister Wadephul is saying on Day 16 of the Naval Blockade. Earlier this week German chancellor Merz called it unfortunate that the Iran War is continuing in explaining to ordinary Germans why the German economy is slowing down, yet he understands the danger posed by nuclear weapons in Iran or for that matter anywhere inthe volatile and explosive Middle East. Almost like the volatile and explosive Balkans that ignited World War I in 1914. This strategy of IRGC Iran does much irreparable damage to the Iranian economy in weeks to come. Iranian protests were intended to put the economy on a new path in which not just students, the middle class in the bazaars, the younger generation of Iranians who had the most to lose participated. Why is this happening? It is happening because of the complicated politics of the Middle East and centuries old differences within the Islamic world between different sectarian beliefs and cultures. It is not happening because of the US. The US cannot be responsible for what colonial empires of the British and French did in this region in the 1920's by creating artificial states of Lebanon, Syria, Iraq, out of the Arab portion of the collapsed Ottoman Empire defeated in World War I with Shia, Sunni populations in these states mixed up into unmanageable states. Five decades of wars in the Middle East are the result of these unmanageable artificial states of French and British Empires by 1921. The British Empire also controlled Iran in the 1900's and its oil resources. There was no involvement of America as the British and French did what they wanted to do even in the Treaty of Versailles that ended WWI.  The fall of the pro-Soviet Mossadegh regime in 1956 was the only fragmentary situation which is an anti Soviet Cold War move by the US in 1952, and was done by a group that had British connections deep inside the Eisenhower administration led by Secretary of State John Foster Dulles that took this unfortunate step for America (looking back over  5 decades of wars). A British oriented group was active inside the Republican party that continued to operate in the Reagan administration's involvement in support for Iraq in its war with Iran. And which no longer exists in the Republican party led by DJT which puts America First, grasps the fact of unmanageable states of British and French Empires and seeks to distance the US from the Middle East. Gandhi and Patel (and Jinnah) avoided the creation of such a state in British India's partition into India and Pakistan. Afghanistan is simply an extension of this Middle Eastern complicated setup, including 9/11. Why is all this important? Arab Middle East is a dangerous place for nuclear weapons- this is all the US is trying to accomplish, thankfully without the cooperation of the British and French whose Empires are responsible for the creation of a hodge podge mix of peoples in Lebanon, Syria and Iraq which (check this out) never existed before British and French Mandates of 1921. The global and American media that sees DJT Republicans as too conservative on cultural issues and the political establishment intending to return to power have completely obscured or not presented this side of the Middle East, yet is key to devising a policy that keeps America out of Middle East wars but keeps the goal of no nuclear weapons in this powderkeg of a region. ...

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With six and a half times the light gathering power of the Hubble telescope the new James Webb telescope will liftoff from the edge of the South American jungle into space. It will be folded into an Ariane 5 rocket and blasted off from French Guiana. The power of the new telescope will help it look deeper into the cosmos and farther in time, to open new windows into how the universe evolved after the Big Bang. John Mather a Nobel prize winning astrophysicist and NASA scientist says "we want to see the first galaxies growing."

The $10 billion truck size telescope will head out on a 29 day voyage to a spot four times as far as the moon, called the second Lagrange point, through 2026, collecting distant starlight and beaming back a stream of images and data. The ultrasensitive infrared sensors are designed to capture light emitted more than 13.6 billion years ago by primordial stars.

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The German people offer a warm welcome to refugees from Syria and North Africa suffering enormous hardships to make their way across seas and overland through Eastern Europe to Germany's borders. Germany of its own accord waived the right to deport Syrians back to the first European nation entered, and supported Syrian refugees right to stay with an 87% acceptance rate for Syrians seeking asylum. In August 2015 alone 100,000 refugees were accepted. Chancellor Merkel and Germany lead the European Union by example, and what an example it has been. Faiola of the Washington Post tells the story of Abed Almoen Alalie, a civil servant from Syria who fled with his family, and after being roughly treated in Budapest, Hungary, cannot believe his eyes seeing the welcoming crowds as he gets off the train in Munich. Never has a nation in such a short time made its way into the hearts of so many as Germany has done in 2015. The crisis found Germany, or Germany found the crisis, either way Germany embraced it and the people who came with it in a way hard to imagine. With chancellor Merkel leading the way using strong words and courage of her Lutheran convictions- "The fundamental right to asylum does not have a limitation. As a strong, economically healthy country, we have the strength to do what is necessary." Many Germans have responded in a degree and manner that is hard to imagine . They say this was Germany's effort at redemption after the war. In a poll by ARD released September 3, 2015, 88% of Germans said they would donate money or clothes to refugees or have done so, and 67% say they will volunteer to help. ...

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A recent study shows that by 2030, 70% of India's jobs would be created in the cities, and about 590 million people would live in India's cities. This will require urban planning and proper arrangements for housing and commercial space which India's cities sorely lack. Cities in India, from Chennai and Delhi to Mumbai and Bangalore, are way over-stretched, roads are perpetually choked, sewers, water lines and electricity are lacking. And there is no housing for new arrivals from rural areas as this migration to the cities takes place. India's building codes and zoning laws are outdated, and urban planning experts say their are ideas about urban design but very little gets implemented.

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Car sales in Germany are up 40% from ayear ago. This is not about to happen in the USA. The cash for clunkers program in Germany is broad and less complicated.In Germany eligible cars have to 9 years old and the subsidy covered the purchase of any new car, regardless of size and fuel efficiency. In the US the program just signed by President Obama covers a narrow profile of customers. In the US customers who benefitare economically challenged and in the midst of adeep recession. Cars can't be over 25 years old, and can't have a combined highway and city fuel economy rating of more than 18 miles per gallon as calculated by EPA. To get the full $4500 credit customers must buy either a new truck or sport utility rated 5mpg higher than the clunker or scrapped vehicle, or a passenger car rated at least 10 mpg higher.And the credit is given instead of the trade in value, so if the trade in value is higher it doesn't help. The German government is giving away upto $4500 but it started out with 1.5 billion euros to get 600,000 clunkers off the road, but because of the popularity of the program has expanded it to 5 billion euros for 2 million cars and extended it to end of 2009. The US program only has $1 billion for 250,000 cars or one eight of what the Germans are doing for amuch larger car market. Because of the dire shape Detroit and much of the midwest is in, because of the slump in the auto industry, this may be a mistake and a missed opportunity to do what the Europeans are doing, and get an even bigger impact. The American car market and industry is taking a severe blow from the deep recession. Because of the depressed region the impact of a real clunkers for cash program that targets a broader profile, with bigger financing and designed to give a boost to the market, could make a real difference. At this point it is more of a program designed to help people turn in their gas guzzling trucks for passenger cars, and those driving a $200 car are not likely to be the kind of customer who goes out and buys a new car say dealers. See the link to Alan Blinder's stimulus proposal in July 29, 2008, that suggested a $20 billion program even before the current crisis. The present program has only $1 billion....

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Rudy Giuliani, a former mayor of New York City, is one of the defendants in the Georgia indictment of Mr. Trump under RICO racketeer laws. WSJ says in its Editorial Board opinion that the racketeer RICO laws were used by Mr. Giuliani in his days as a New York prosecutor to tackle business cases, and it is an irony that he is now the defendent in such a case.

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French president Macron fails to get president Xi of China to commit to changes in its policies towards Russia's invasion of Ukraine. Macron's visit as seen by the NYT only undermines the US policy and European Union policy that opposes the invasion of Ukraine by Russia. EU's Leyen also visits China at this time.  The relations between the US and European business with China expanded for two decades between 2000-2020. All three regions are heavily invested in each other. Decoupling is a gradual process and China sees the EU as an access point for technology and investment. The US has not decoupled from China even after moves in semiconductors and electric vehicles were made by president Biden. Apple and other American companies are heavily invested in China. The US and the EU are committed to building new supply chains. Their policies are intended to do this in a way that reduces the effect on their economies. The European Union depended on the US for its response to the Russian invasion and to protect freedom in Europe through NATO. By 2024 the European Union policies will be integrated with policy of the US. China is also trying to reduce the effect on its economy by decoupling in a way that maintains growth. ...

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Questions about the true cost of the Obama health care legislation and the assumption that the legislation cuts the deficit by billions of dollars. This WSJ editorial says one has to look at this closely, and not merely look at CBO projections, which may be based in a certain context and not reflect the true costs, especially because many accounting gimmicks and use of numbers to present a particular picture is taking place. The information this editorial cites is that: it uses 10 years of taxes to fund six years of subsidies, Social Security and Medicare revenues are double-counted to the tune of $398 billion, a new program funding long-tem care frontloads taxes but backloads spending, and the assumption of an automatic 25% cut to physician payments that Congress is unwilling to authorize. Rep. Rand Paul has tried to present an alternative view which needs to be studied just as closely, because of the enormous impact of a jump in spending at a time when the public finances are fragile. WSJ also cites the work of Richard Foster, the chief Medicare actuary, as an alternate perspective of how things could turn out, Doug Holtz-Eakin, and Eugene Steuerle. It calls for common sense in evaluating programs, entitlements, defense or other government spending. They not only cost money, but costs escalate over time as history has shown over decades, till they eventually are discovered to be not affordable unless the middle class is willing to dig deeper into its finances to pay for them. Alternate perspectives from a range of informed opinion, Howard Dean, Martin Feldstein, and the head of Harvard's Medical School show that the issue needs to be looked at closely and carefully and cannot be something in which CBO numbers can be trusted to tell the whole story. Especially when common sense, history, and informed opinion across a spectrum of thought advises caution, and fragile public finances also suggest caution. Howard Dean, former Governor of Vermont, says the health care bill is not real reform, and may do more harm than good. He says in a Washington Post article, December 17, 2009, the Obama health care bill does not insert competition into insurance markets, does not significantly reduce costs, and does not improve the delivery and use of health services. It was he says done with a political calculus and crafted for votes not real reform. Jeffrey S. Flier, Dean of the Harvard Medical School, gave the Obama health reform bill an "F" grade, saying in a Nov 18, 2009, WSJ article, that it was disingenuous to call this reform, Congress and the White House were simply deceiving the public. He said the bill will accelerate US health care spending, postpone most of the major health care problems, expecially the ones that drive cost, including the "fee for service" system and delivery of health care. He says in his discussions with economists and other health care leaders the opinion was unanimous that the bill will accelerate health care spending. He cites Massachusetts as an example, where access to care was expanded under the same dysfunctional system, and spending went up, and it doesn't work. Feldstein, who in early 2008 suggested proactive solutions to the mortgage debt crisis which were never adopted, says that the Obama health care law means higher taxes in the long run to pay for the $1 trillion cost of health care for the uninsured group over 10 years. Feldstein says that the Obama plan is to cut Medicare to cut spending, and will reduce the amount of medical services, as reduced spending comes from fewer services, not reducing payments to providers. And he asks if the cost reductions are weighted too heavily towards reduced services and not reduced payments to providers ,would this result in large cuts to services to affect the quality of healthcare for the 85% of the American people who are accustomed to a different pattern of healthcare. ...

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Conversation with Ford's marketing chief Jim Farley who had 17 years with Toyota and marketed the Scion brand. He is a guy who likes to get a fresh look at things like talking to a security guard before coming up with a marketing plan for the Scion, and talking to a maintenance technician about the 150, all off the beaten track. This is reflective of the approach of Jim Farley. Even talking to psychologists about how to convince people to come and try out Ford cars. He is excited about Ford's Eco-boost engine which is a direct injection technology engine which Ford can democratize as he puts it to put it, on some 500,000 cars and trucks by 2013, something not done before. This is a technology that scales up pretty well. Drivers in Western Europe are familiar with direct injection diesels as a way to cut high gas costs and cut emissions, but Americans are not that familiar with it. It boosts fuel economy by 20% and reduces emissions by 15%, and giving a V6 the power and torque of a V8 engine. Basically it injects fuel directly into the engine in small specific amounts so that very little is wasted and the turbocharger uses waste energy from exhaust gas to drive the turbine. He is also in charge of promoting and marketing the Eco-Boost engine, which will show up first in the 2009 MKS Lincoln sedan. ...