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Peggy Noonan, quotes from "Hiroshima," by John Hersey, written one year after the disaster from the dropping of the atomic bomb on the city of Hiroshima in Japan. About 100,000 people died instantly, and another 100,000 lay sick or dying in the first moments of the bomb's explosion- as a sheet of light like the sun cut across the sky in an instant. She rightly points out that it is 70 years since the bomb was dropped, and people in a new generation no longer remember the bomb and what happened. That earlier generation struggled with the thought of the bombing for decades. Now it is only a faint memory, and Noonan does a great and profound service by reminding readers of what happened, and why they should care. In the chaotic situation of the Middle East the risks of the bomb and nuclear proliferation are a serious issue that is not getting the attention it needs. Everything stops. Life sinks into the earth. It can happen.

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A simple sentence from Ms. Aslam, Pakistan's Foreign Ministry spokesman -as she confirms Pakistan prime minister Nawaz Sharif will attend the swearing in ceremony for prime minister Narendra Modi in New Delhi, May 26, 2014- says it all: "Pakistan sees peace with India as a precondition for economic development." A long established truth that applies to a large degree in reverse, that peace with Pakistan is also a precondition for a singleminded focus on economic development in India. How else can India tackle the problem of 1 million young people joining the labor market every month for the next 15 years, according to the UN Department for Social and Economic Affairs. The figure is much larger when including Pakistan, Bangladesh, Sri Lanka and Myanmar (Burma). And would approach 2 million a month if Indonesia is included, the entire region sharing the Buddhist-Hindu-Muslim legacy and lacking the strong engine for growth provided in East Asia by Japan and China.

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U.S. stocks were trading at 22.7 times the total earnings of the companies in the index in March 2013, averaged over the past 10 years and adjusted for inflation, according to data developed by Yale University economist Robert Shiller. This is closer to the average of 19.5 times adjusted earnings seen in the last 50 years. In 2000 the level reached 44 times adjusted earnings. Using operating earnings according to data developed by Howard Silverblatt of S&P Dow Jones Indices, the S&P 500 is 15.9 times operating earnings in March 2013. This compares to 28.4 times in 2000 and a long term average of 18.8 times. The European markets are about 25% cheaper says Zweig, with European shares for Ireland, Italy, France and the UK trading at less than 15 times the average of their long term adusted earnings after inflation. By comparison Japan is at 19 times long term adjusted earnings.

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Deep labor problems that have plagued Detroit automakers throughout the years since the 1930 labor-management strife. The labor advantages enjoyed by the Japanese and the Germans after postwar compact between labor and management in Japan and Germany, that was continued in plants in the US in locations with no labor history. The higher executive compensation and privileges of management in the American management model that did not exist in the Japanese and German models that created another level of distrust of management. The recovery staged by Chrysler in the 1980's withthe minivan and by Ford with new models. The recovery again in the 1990's by Ford and GM with the sports utility vehicle and pickup trucks. And the collapse Chrysler, GM and Ford face today, facing bankruptcy or government bailout on a large scale as rising oil prices and the need for conservation lead to a collapse of the sports utility and pickup market and shift to fuel efficient passenger cars.

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Oil prices drop below $38 by mid-December 2015, as the Saudis continue to push prices down further by continuing production increases. No change is planned for 2016 and analysts expect low oil prices into 2016. At $38 a barrel it becomes uneconomical for most shale oil producers to operate in the U.S. About 50,000 jobs are lost in Texas and 250,000 jobs worldwide. This is a boost for large oil importers such as India, Japan, and Europe. China also stands to benefit from low oil prices. Nigeria, Venezuela, Iran and Russia have the most to lose from an extended period of low oil prices. Politics in the Middle East also may play a part in decisions as the Saudis oppose intervention in Syria and Iraq by Russia and Iran. Rising shale oil production in the U.S. could also be one of the additional targets of Saudi policy. One consequence is that OPEC is divided with the Saudis going their own way.

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Naoto Kan becomes Japan's new Prime Minister after the resignation of Hatoyama and his entire cabinet. Kan was a civil rights activist and was actively involved at the grass roots level. He is also known to have tried to control the bureaucrats and civil servants who have tended to be secretive and distanced from public opinion. As Health Minister in the mid 1990's, he exposed his own ministry for using blood tainted with HIV. He was deputy prime minister in the Hatoyama administration which lasted only 8 months.

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Public opposition in the summer of 2012 to the restarting of nuclear plants by prime minister Noda. A huge rally was held in central Tokyo with about 100,000 protesters.

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About 4.2 million Americans will be 65 years old in 2024, and for the next six years about 4 million will be added to the 65 plus population each year making the 2030 population of 65 plus larger by about 24 million people. As America ages it will need more young people to do many jobs in healthcare, care for the elderly, in agriculture and transport. This is what we are seeing in Japan and even a country highly protective of its own culture has a policy of admitting immigrants from Vietnam and other countries to meet worker shortages. Claire Ansberry looks at the 65 plus population today and compares it to 35 years ago and finds it is more oriented to exercise, health, and has more accumulated wealth. About 20% of people over 65 years work today compared to 15% 35 years ago, says Pew Research, and of these working 65 year olds two thirds are working full time compared to half in 1987. They are wealthier having median net worth of $410,000 today compared to $282,000 in 2010 much of the 45% gain made in the last 2 years from rising house prices and stock investments. Those over 75 years have a 13% gain. Overall the wealth is significantly higher today. ...

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US president DJT meets Indian PM Modi on the first day of his visit to the US. PBS shows the joint press conference of the two leaders as India and the US embark on a new journey. India to reach out for 1.4 billion people- and as a model for 1.7 billion people including Indonesia- reach out for Developed modern India by 2047, the 100th anniversary of India's independence from the British Empire. The US as the leading western economy meeting new challenges from China as it partners with India for 2.4 billion people living in South Asian and North American democracies and the UK/Canada/Australia/Japan the largest group of people with a common history and institutions of government based on a shared history with Britain and the Modern World it created by pioneering the Scientific and Industrial Revolution. And a shared civilization where the Bhagavad Gita meets the Authorized Version of the Bible in the religion and civilizations that provide a common heritage of the spirit. To conduct the affairs of man in ways that provide good honest governance and a shared interest in peaceful development for the welfare of humanity. ...

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Seantor Dan Sullivan and the WSJ say Alaska's economic potential and its standard of living was ignored with blanket blocking of any development of its resources. WSJ says under the Biden administration the state was turned into a nature museum.  WSJ says the state's leaders know that spoiling the environment would be mistake. Yet developing some of the state's resources would help the US in sourcing natural gas and rare earth minerals for renewable energy products. This would achieve a policy balance. One of the arguments North Dakota Governor Borghum and new US Interior Secretary makes is that China is building a coal plant every 2 weeks with 12 built in the first 6 months of 2024. As of July 2024 Statista shows China with 1161 coal plants operational, 6 times the 204 US coal plants and 4 times the 295 coal plants in India, 89 in Japan- and 90% of new coal power capacity added. This means climate change issues remain no matter what the US does. By using natural gas fired electricity the US gets transition time for the shift to renewables and can attack the cost of living, export to the EU.  ...

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Takata struggled with a faulty airbag recall crisis and failures in quality control that go back to 2004, with a crisis in 2015-2017 as a result of about 14 deaths. Takata's liabilities now run to over $15 billion according to Tokyo Shoko Research because of claims against it from banks, automakers and others. Takata declared bankruptcy on June 25, 2017. Takata was sold to a Chinese owned manufacturer based in Michigan, Key Safety Systems, for $1.6 billion. Takata had hoped for a white knight investor or some of the automakers such as Honda to save it. But the liabilities were too great and automakers in Japan resisted the idea because it might upset shareholders and it made no sense to assume growing liabilities. As a result the Takata company name will go out of business- for a company that started in 1933. The Chinese company taking on the business, a quarter of the market share for the airbag market, is Ningbo Joyson Electronic Corporation. A related article in the NYT in 2014 by Tabuchi shows how management at Takata failed to act responsibly when the early beginnings of the crisis happened in 2004. See the link. [article-54918]  At that time testing of an exploding airbag in Alabama was kept secret and later closed down without informing safety regulators, according to former employees. By not taking responsible action management failed in the 2015 airbag crisis leading to this bankruptcy, the largest in Japanese history.  ...

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Social unrest in France from student unions and worker unions of the SUD and CGT. The effects of the higher joblessness with unemployment moving upward from 7.9% and expected to hit 10% in 2010, is showing up in strikes and worker action in the streets as well as student union protests. Because of the way hiring practices have evolved, a 2 tier labor market has developed with overly protected permanent jobs and flexible short term contract labor. Its the jobs in flexible short term contracts that are the first to go, and as they are concentrated among the young, the joblessness among young people in France is much higher.

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More revelations such as Pandora papers may not do much because the inertia is institiutionalized and the political system is available for hire, says Prof. Prem Sikka of the University of Sheffield, UK. He says armies of accountants, lawyers and financial experts support this system, the regulatory system in the UK is ineffective, and too many MP's are on the payroll of corporations, says Prof. Sikka in The Guardian. It is the sheer size of the problem that is staggering and could be an indication of how it reduces upward mobility in society, leads to financial crises, and defunds infrastructure, defunds healthcare and housing in US, Europe, Britain and India. The size of illegal money and tax evasion money in the world today is according to this article in The Guardian simply astonishing- $3.6 trillion. 

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How the extended family acts as a lifeline in Spain. High unemployment does not cause homelessness and social distress becuase of the family as an additional support and safety net. Lower mobility also helps as people live near their extended families. Few people end up on the street because of this as unemployment hits 17% a year. Other things to note: the safety net of government benefits is much stronger in Europe. Also the older workers with steady jobs are less affected, as immigrants take the brunt of the high unemployment in Spain. And in France it is the younger workers and the people in temp jobs who are more affected, to some extent true also for Spain. So these countries are holding up better. In the USA President Obama's stimulus measures are picking up some of this, and the universal coverage health care plan should add additional benefits by 2010.

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One needs to look at India -US relations over the long span 1900-2025  looking only at the long haul. In taking a look at the relationship in this way Gandhi's letter to FDR during the Quit India Movement from Wardha July 1 1941, and FDR's reply (with Churchill and FDR fighting Japan in 1941) ranks as memorable and long lasting, far likely to prevail as an idea that holds the imagination of it's peoples than the pulls and shifts of different administrations. Even in the  depth of the war against the Nazis in Europe, and the Imperial Japanese Army rampaging through China, Gandhi felt comfortable looking to America as a friend. Churchill was the antagonist at the time unwilling to let the British Empire fade, and FDR was a friend through the Second World War. Gandhi opens his letter to FDR saying "Dear Friend. I twice missed coming to your great country... I have profited greatly from the writings of Thoreau and Emerson..." And FDR writing back "I shall hope that our common interest in democracy and righteousness will enable your countrymen and mine to make common cause..." For India the powerful words of Cordell Hull his Secretary of State, were offered by FDR with unmistakable goals of freedom and democratic process for India. Eisenhower and Dulles support for Pakistan in the 1950's into 1970's, a period of China and India in the 1970's and 1990's shifting away from old economic arrangements, till India US under Biden 2020 where India as with FDR  was "the closest in the world" to the US, following China's shift to Communist rule and now competition with the US. Taking this long perspective India and the relationship with America will be determined by the 1.8 billion people of the two countries (with Indonesia 2.1 billion people), and the potential for this is vast and only growing by the year. There is a natural affinity and feeling that is only now coming into its own because of a shared responsibility, and a shared understanding, as parts of the former British Empire, separated in 1783 and 1947. And the mutual desire to build the modern world on the terms left by advances of science and technology combined with the ancient civilization of the Bible, Buddhism and the Upanishads. In this sense modern India is made with America and does not exist separate from America, and modern America forward is made with India and does not exist separate from India. ...

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Does a 10% reduction in tariffs on China with the October 30 2025 agreement- made in Busan South Korea at APEC meetings- make a difference for companies relocating from China? It only does for smaller companies who are stuck with Chinese sources. Larger American companies prefer to diversify their supply chain and continue to relocate part of their factories to Vietnam, India and other countries knowing that the tariffs game will end up with allies EU, Japan and India in the 10-15% tariff range as a concession to US for putting up with trade disadvantages and job losses 2000-2025. China's will still be at 47% in comparison and the fentanyl issue causing serious questions to be asked by the American people which have not been grasped in China or even in the US by companies and politicians.   Does it affect the urgency and general shift out of China? The fentanyl issue is unlikely to change and it is likely to do lasting damage to China's credibility to a degree that it not clearly understood in China, and even not fully grasped even in the US today because of the sheer size of the number dead- more young Americans dead from fentanyl than in the Korean, Vietnam and First World Wars combined. Other issues are technology that has been transferred without a proper assessment of the importance to national security, the need to shift the manufacturing base back home that US industries have inadvertently and carelessly shifted to China in the disastrous Bush and Obama years 2000-2016, and for the jobs, the wages, and cost of living concerns when supply chains are outside one's control. This article asks the question about tariffs on India and Brazil as being contradictory and showing a lack of consistency in tariffs. India is compared to China with India facing a 50% tariff because of Russian oil purchases, and Brazil a 100% tariff related to treatment of former president Bolsonaro even though US has a trade surplus with Brazil. One expects that at some point India and the US will come to an agreement that lowers the tariffs in a way that was done with the European Union to bring it closer to 10%. China's tariff to be sure is still around 47% dropping from 57% a concession for rare earths and for the upcoming elections and economic concerns not because of policy intent which has not changed on  strong action for fentanyl which is also part of the Appeal to the People in the DJT base.   ...

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Myanmar's economy shows slower growth in the early period of the Suu Kyi administration. Experts say part of the reason is that the administration has slowed investment in petroleum and mining and pushed it in favor of other areas to diversify the economy. The inexperience of the government is also an issue, as Myanmar needs workplace reforms. The IMF says growth should improve to 7.5% after 6.3% growth in 2016. The government is in office for only about 2 years, and this comes after decades of mismanagement and cronyism under military rule. Another problem is that Suu Kyi is considered a micromanager and is only now delegating matters to experts, some from Australia. In a sign of the sluggish foreign investment the two American companies investing in Burma are Coca Cola and a can making company. The initial enthusiasm for investment has waned.