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US massive misallocation of capital in AI 2026-2028 Articles

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France 24 Original article ›
NYTimes.com Original article ›
LyrArc Article Gist
Most people would not guess or recognize that this place where elderly people in society were treated shabbily is a country in northern Europe, and a country where citizens pay high taxes for precisely better healthcare across different age groups. Sweden is where about half of the 6000 people dead from coronavirus were elderly people.  Over the last two decades Sweden has cut hospital capacity and discouraged elderly people from entering hospitals during the early period of the pandemic, says this report in the NYT. The for profit nursing homes in the centre of Stockholm were unable to cope. Having turned the work in these homes to low wage workers, it put these workers and the elderly at risk with lack of staff, lack of adequate PPE oreven  basic masks, says this report in NYT.  One of the lessons of this pandemic is the failure not just in turning over manufacturing of health care equipment and pharmaceuticals to China, but also turning over the basic care of elderly to for profit institutions that were totally unprepared and could not give elderly the dignity and care they deserve. Year of cuts to public services and health services now showed in a glaring way what can happen when this is done. It has lessons for countries from Europe to North America, and to Latin America, India and other Asian countries as they redesign policy and allocate resources to public services in the next 10-20 years. ...
WSJ Original article ›
LyrArc Article Gist
Mines sending trainloads of northern white sand are now sitting  idle in Wisconsin , hurting jobs and local revenues to finance budgets of local government. Mines have closed in Wisconsin for this sand that is blasted into silica and used for shale oil production. This has cost jobs in a rural area near the Mississippi river which borders Wisconsin, Minnesota, Iowa and Illinois. Even though these areas do not produce any oil and gas. Companies supplying trucks, lubricants and drilling tools are also affected all the way into Youngstown, Ohio, which provides pipe to the oil fracking areas in West Texas. Frackers blast a mix of sand, water and chemicals into fossil fuel bearing rocky areas. Sand called northern white was considered very good for crush strength to prevent plugs and there is a lot of it beneath western Wisconsin topsoil. Once used by glassmakers and cranberry this became a useful source of supplies from 2015 onwards. Demand surged till 2018 when new supplies were found in West Texas which would reduce costs of transportation. Wages in these mining jobs were about $8 higher than other jobs for people with less education. After 2011 financial crisis and the loss of manufacturing jobs to China this provided a new source of higher paying jobs for less educated workers and paid for local government to provide services including in one town a new swimming pool for the recreation complex. This has proved to be temporary with many mines closing in 2019 and in 2020 after the pandemic. ...
WSJ Original article ›
France 24 Original article ›
DW.COM Original article ›
DW.COM Original article ›
WSJ Original article ›
LyrArc Article Gist
WSJ was first to point out the dangers of holiday hotspots in Spain, Greece and Croatia in spreading the coronavirus in Europe. One story in the WSJ showed how 21 million tourists visiting Croatia in the summer were not following the basic social distancing and mask guidelines. These tourists returning to Germany, Austria and other countries were spreading the virus after becoming infected in bars and restaurants, shops in Croatia which had not followed the basic guidelines that had been followed earlier in Croatia in April. Over the summer after months of lockdown people simply used fatigue with restrictions as a reason for going the other way and ignoring them.

WSJ Original article ›
WSJ Original article ›
WSJ Original article ›
LyrArc Article Gist
Airports and airlines are trying to promote flying by offering coid testing to avoid quarantines imposed by state and federal governments. Airports are opening test centres offering the PCR test which takes 48 hours for results and rapid tests that take 15 minutes but are not as accurate. Some airlines are looking at designating certain flights as covid tested flights with all passengers either tested and negative or having been removed from the flight. Lufthansa has testing at airports in Frankfurt and Munich with the German government agreeing to it that people tested and negative did not have to quarantine for 14 days. Following this summer traffic jumped. The head of the resting task force at Lufthansa, Mr. Leffers, says testing is now becoming an integral part of the flying experience. Bermuda has some of the toughest testing rules with tests required on Day 1, Day 4, Day 7 and Day 14, resulting in low traffic over the summer. Yet with covid rates rising elsewhere Bermuda has become a safer destination resulting in a large increase in traffic this month. ...
WSJ Original article ›
LyrArc Article Gist
After ending talks for a broad coronavirus aid package till after the November 3 election Mr. Trump says he still supports individual measures including help for the airline industry. He also supports aid to small business measures, and direct checks to Americans of $1200 going out immediately.

Hindustan Times Original article ›
LyrArc Article Gist
India is a major partner for Africa in the areas of energy and healthcare. India is a critical partner for Africa during the coronavirus pandemic in providing medical supplies and maintaining the critical supply chain. Indian oil and gas firms have invested $7 billion in Mozambique. India is Africa's third largest export market and India has $54 billion in investments in Africa. Foreign minister Jaishankar called India a reliable partner for Africa interested in developing the region. In fact Gandhi first started his nonviolent struggle in South Africa on behalf of miners in the region and fought for rights of African and Indian people in British South Africa. As a leading member of the British Commonwealth of nations India has a long history of ties with South Africa, Kenya, Tanzania, Nigeria, Ghana and other former parts of the British Empire. Indian workers and merchants played a large role in development in Africa after and during British rule. There are also older ties with Portuguese ruled Africa (Mozambique and Angola) with Portuguese settlements on the east coast of India. The Indian Ocean ties go back to the 15th century. ...
WSJ Original article ›
LyrArc Article Gist
The foreign ministers of the U.S., Japan, India and Australia meet in Tokyo as Mr. Pompeo visits Tokyo to meet the new prime minister, Mr. Yoshhide Suga. The Quad group is now coming closer for economic and military cooperation to counter China's aggressive positions in the Himalayas, in the South China Sea, in interference in Australia's domestic affairs, and in the Taiwan Strait.

DW.COM Original article ›
DW.COM Original article ›
LyrArc Article Gist
There is a major shift in world opinion among major countries in Asia and Europe and North America moving negative by double digits in Pew research surveys. The shift is gradual and negative in Germany, France, Spain and Italy, and steeply negative in Sweden, Denmark, Britain and the U.S., Japan and South Korea. The people with negative views of China in world affairs are also the people who believe China did a bad job in handling the coronavirus.  In Australia in one year alone there is a 24% increase to 81% of people who see China unfavorably, in Britain this is a 19% increase in one year to 74%. In the U.S. the shift is over 4 years by 20% to negative views for 73% viewing China unfavorably or negatively. The shift in Canada is similar to the U.S. The biggest shift is in Japan where 86% view China unfavorably and Sweden where this is 85% after China handled Swedish relations poorly. See the color graphs in the original article in DW.com by clicking on original article here in Lyrarc.com. It is rare to see the such a dramatic shift in public perception of one country. The handling of the coronavirus by China in a way that hurt all countries with lack of transparency and total cooperation normally seen in pandemics and the cost in poverty and job losses, economic losses has resulted in a massive loss of confidence in China, and in the leadership of Xi Jinping. Most public opinion in these countries now believes that Jinping cannot be trusted to do the right thing in world affairs. ...
Original article ›
LyrArc Article Gist
Boris Johnson looks ahead to a vision of Britain ten years from now as it did in the depths of the second world war, as Britain faces a second wave of the pandemic with doubling of cases to 14,000 new infections daily in 11 days. His speech was made to the Conservative Party conference.

The Times Original article ›
LyrArc Article Gist
One day in 1964 Oxford mathematician Roger Penrose decided that an impossible object could actually exist - a black hole in the galaxy after a planet collapses.Einstein's theory of relativity had predicted that when stars collapse they could form infinitely dense points of matter that no light would be allowed to escape. The formation of black holes supports Einstein's Theory of Relativity says the Nobel Prize Committee. Penrose is 89 and says it is good to get the Nobel Prize when one is good and old. Stephen Hawking a younger physicist passed away and was not included in the prize after supporting Penrose's work. Two astronomers in the U.S. at UCLA, Los Angeles, get a quarter of the prize for their work detecting black holes in the sky and providing evidence of a super massive black hole in the center of our galaxy. Pennrose says "If you have got grand ambitions its bad to get a Nobel Prize too early, it gets in the way of your science." ...
WSJ Original article ›
LyrArc Article Gist
President Trump returns to the White House after 3 days at Walter Reed Hospital. Mr. Trump will isolate at the White House residence, and not be at the West Wing where many aides work. He wore a mask as he exited Marine One and stood on a White House balcony. He tweeted "Don't be afraid of Covid. Don't let it dominate your life." Mr. Trump has been given Regenoron drug, Remdesvir and other medicine to reduce the virus load and improve recovery by some of the best doctors at Walter Reed Hospital. A fitter president who has lost some of that extra weight could be one learning point from the encounter with covid. The next week will be critical to ensure the recovery is stable and long term.

WSJ Original article ›
LyrArc Article Gist
Charts of foot traffic in retail stores show traffic is back up in home improvement stores but lags in electronics and apparel. Apparel is well below levels below the pandemic with stores closing. E commerce sales in September were up by 45% compared to same period 2019, with this making up 16% of all U.S. retail sales.Weekly foot traffic in the U.S. is down 14% in September compared to one year ago.

Clothing stores have the lowest employment rate with a decline of 29% as of July, and this is where stores have closed the most with job losses permanent.

 

WSJ Original article ›
LyrArc Article Gist
The United Nations World Food Programme estimates are that acutely food insecure people doubled from 135 million before the pandemic to 270 million. Mr. Husain of the WFP says the world has not seen such a shock to food supplies and food demand on a global scale in the past century.The head of the food division at Unilever, Hanneke Faber, says about a billion people may be going hungry today after the loss of purchasing power and jobs during the pandemic. Many children depend on school lunch programs for their main meal and not going to school could mean about 370 million children may be losing this meal says UNICEF former executive director Ann Veneman.

WSJ Original article ›
LyrArc Article Gist
Europe's second wave affected mostly younger people with mild or fewer symptoms. Latest data show that this is changing so that infections from young people are spreading to older members of the same family. In Italy the median age of newly affected is rising with more than one third from people over the age of 50 years. In Britain the number of hospitalizations have doubled in September to more than 2000, and in Spain deaths are rising sharply to 547 in the first week of October. With multigenerational families and older people offering care of grandchildren it is particularly difficult to isolate completely in Italy and Spain.

WSJ Original article ›
LyrArc Article Gist
Employee acceptance of pay cuts is a way to avoid large layoffs. Here Southwest Airlines tries this approach and says it can prevent furloughs and layoffs by doing this till the end of next year 2021. Culture makes a difference. United and American Airlines announced 32000 job cuts. Southwest has never furloughed or laid off employees and has pledged to avoid this from happening in 2020.

WSJ Original article ›
LyrArc Article Gist
Americans Harvey Alter, Charles Rice and Briton Michael Houghton win the Nobel Prize in Physiology and Medicine for the discovery of hepatitis C virus, which causes liver cancer. Before this discovery and the test for bloodborne virus giving blood transfusions was very risky as it could transmit Hepatitis C virus. Blood banks then used the test to make sure donors did not carry the virus. We now have millions of people benefit from safe blood transfusions and safe blood products. Drug makers then developed medicines for treating Hepatitis C virus. Dr. Alter worked at the U.S. National Institutes of Health in the 1970's and identified the unknown infectious agent that was not Hepatitis A or B virus. Dr. Houghton worked in the 1980's with pharma firm Chiron and isolated the genetic sequence of the then unknown virus. He now works at the University of Alberta in Canada. Dr. Rice, a researcher at Washington University in St. Louis found a component at the end of the Hepatitis C virus genome that played an important part in its ability to replicate. ...
WSJ Original article ›
LyrArc Article Gist
A federal committee in the U.S. now recommends no more than 6% of calories come from daily sugar intake not the 10% that is is the current guideline. It is smart to be wary of guidelines set in a different period when Americans and people in other parts of the world were not enough health conscious as they should have been. Artificially high limits set in guidelines serve as a danger to health, particularly as experts say obesity is like pouring gasoline on fire in fighting the coronavirus. Take a look at mean consumption today and it is not even the 10%, it is 13% double of what it should be. Nearly two thirds of Americans aged 1 years or older consumed more than 10% of daily calories in added sugar. And 70% of U.S. adults over 20 years are obese or overweight according to 2015-2016 figures from CDC. Today the figures from Europe and Asia, Latin America are also alarmingly high for obesity rates. Added sugar comes from processed foods from soda and pasta sauce to cereal and yogurt, and honey, sugar itself. Sugar sweetened beverages are common and dangerous. A 16 ounce grande pumpkin spice latte at Starbucks has 50 grams of sugar or 10% of a 2000 calories diet. The committee in the U.S. wants to see people eat healthy diets and does not want to discourage healthy foods like fruit and milk which people are not eating enough. It wants to see a shift away from processed foods to foods that have good health outcomes such as fruits, vegetables, whole grains, and lean meat and poultry. The beverage producers such as Coca Cola and Pepsi are a major source of resistance , as are Confectioners association, and other producers that benefit from setting the guidelines at 10%. It is not that for 3 decades as the obesity levels rose to the shocking and dismal health levels of today that the ideas of what constitutes a healthy diet were not known. It was just that we as a people did not care enough to fight for what is safe and healthy against whatever resistance was put up by producers with their vested interests, just as we as a people did not care enough to to fight to keep local manufacturing in place and the jobs and healthy communities across our land. A gram of sugar equals 4 calories. For a 2000 calories a day diet that is 120 calories to stay within the 6% that we should not exceed. Make a habit of looking at each packaged product and add up the added sugar grams and calories. ...

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