LyrArc Article Gist
Fannie Mae and Freddie Mac are required to send nearly all profits to the U.S. Treasury in the form of dividends. By the end of 2013 the two companies will have paid $185 billion in dividend payments, close to all the $186 billion in aid provided by the U.S. government during the housing and mortgage crisis. Fannie will have paid $113.9 billion of the $116.1 billion in aid given by the U.S. Treasury, and Freddie will have paid the entire $71.3 billion in aid given by the U.S. government. This was possible because of the recovery in housing prices since the collapse of the housing market in 2009. Most of the housing price recovery occuring in the worst hit states California, Arizona, Nevada and Florida as buyers were attracted to lower price homes in foreclosures and provided Fannie and Freddie a large boost, followed by recovery in prices as traditional homeowners entered the market. At one point in 2010, Nick Timiraos cited estimates of $680 billion for total aid that would be needed for Fannie and Freddie, which shows how far things have come from the low point in the housing market. ...

LyrArc Article Gist
This exceptional report from rural areas in France by Roger Cohen shows why the support is growing for the far right and the far left in rural areas and smaller towns outside the large cities which have suffered from high unemployment and neglected as technology and capital moved to other areas. Cohen talks to Nicholas Bay, secretary general of the National Front, who says this election is about patriotism, the nation state vs globalization, as the National Front tries to portray its opposition as being less pro-France, and less pro French culture. The centrist candidate Macron stands in front of a statue of Alexandre Dumas in Picardy, an hour northeast of Paris, and says he is for an "open patriotism" that embraces people of different origins and embraces refugees. Cohen attends a Le Pen rally in Metz, Lorraine, talks to a National Front mayor in Picardy and left party supporters in the town, talks to foreigners in the banlieu of Sevran. Cohen says a National Front victory is possible if enough voters who support the far left party of Melenchon do not vote for centrist candidate Macron, and enough voters of centre right Fillon supporting French culture and nationalism drift to Le Pen. As in the Dutch election with Moroccans derided by the far right the immigrant issue is a factor. Against this background is how events play out in the last weeks of the election. In March and April the events in the U.S. show a Trump administration moving to the centre, adopting a quieter and more constructive tone towards Mexico and immigrants. Relations with Russia have worsened after the U.S. response to the chemical attack in Syria, and the French public may now see this as a common threat to NATO and the European Union. As in the Dutch election a lot depends on the last weeks of the election and how well the centrist parties, the centre right and the centre left get their message across about what is to be gained by building anew on the foundations of the past without risking a lot on an uncertain path of referendums and exit from the European Union.   ...

LyrArc Article Gist
What is California's position in nuclear and renewables and does the substance the facts justify the image it promotes of being energy friendly and using renewables? Answer is NO  because only 9% of its total end use energy consumption according to EIA figures (2023) comes from renewables. It uses no coal yet about 60% of its energy is from crude oil. During the current crisis in the war with Iran is California an example to follow? The answer is No because it has not used renewable energy the way Germany has or EU has, and it has not managed its crude oil well by not using domestic crude oil instead relying on imports, which only burden the global needs for crude oil coming from a state with capacity to do lot better. By comparison Germany gets 23% of its total energy consumption from renewables compared to 9% for California, and for Germany 60% of its total electricity production is from renewables compared to 46% for California. EIA data shown here from US government data does not paint a very energy friendly picture. California's imports of crude oil at 75% of consumption and drop in refineries from 48 to 3 shows it has not managed the oil refining side of energy in the best way possible. How does it rate in making good use of energy? Here it uses 174 million BTU's per capita no different than New York at 174 and about the same as Florida and Washington DC, Massachusetts, Maryland.  And Germany has achieved 122 million BTU per capita showing California far behind. How does it rate in using renewables and nuclear? As it is a state with urban and suburban sprawl with large driving distances it uses a lot of crude oil for transportation. Petroleum or crude oil use is 58% of total energy use, Natural gas 25, Renewables are only 3%, electricity generation is 14% of which only 46% is from renewables. California is NOT the model for the US. We have to look elsewhere for answers.   ...

LyrArc Article Gist
DW.com report by Mu Ciu shows a CATL(Contemporary Amperex Technology) plant in Arnstadt, Thuringia, in eastern Germany. It will not bridge Germany's technology gap. German and US consultants at the microeconomic level of the company and German and US economists at the macroeconomic level of the economy entirely fail to grasp the effectiveness of China's investment driven model. Of its joint partnering with European and American companies and China's single minded focus on technology access. This is why the DJT US administration has warned Europe that it is failing economically. China's macroeconomic and microeconomic model are run by the same authority by the state, and according to goals and plans (which in a socialist economy is weak at the microeconomic company level lacking the initiative and freedom of action). By combining its macreconomic framework run by the state with a micreconomic company level run by the state but on free market lines the Chinese investment driven model has dual advantages and operates at a speed that far surpasses the German and American model. It's society suffers as a consequence, but in few short decades 1990-2009/2020 this is all it could accomplish with a single focus on modernization for what was once a peasant agricultural economy. Where it lacks is in future technology access and as long as weak companies in the US and Germany partner with Chinese companies the technology access for Chinese companies give it the essential ingredient for its investment model to work, as American and European companies can waver in investment Chinese companies backed by the government will not waver in investment and have the clear advantage. DJT's approach is to give a big shock to the entire system of world trade now run by China, so that this is no longer going to work at the macroeconomic level and legislate huge investment incentives for one time depreciation and other moves to get American companies to invest. It wants Europe to do the same, including getting rid of the bureaucratic structures and regulations. German Chancellor Merz is getting the message and is acting quickly first with the trillion dollar investment plan, the meetings with Draghi and Meloni to get Italy and like minded nations on board, and internal efforts to get rid of regulations and bureaucratic structures, and building a new partnership with India to remove an error of Merkel/ Clinton+ Obama in excessive concentration and dependence on China. This requires a steady hand and steady governments, steady policy, and companies in America, Europe and India to work together for the long haul without wavering or delay, to rebuild the world economy along new lines and on a new path. ...

LyrArc Article Gist
NATO members except Spain agree to spend 5% on defense, 3.5% on military and 1.5% on defense industry. Germany makes purchase of 35 F-35 fighter aircraft from the US for $8.2 billion in 2025 to be fitted with cruise missiles from Norway. Defense minister Pistorius says Germany has moved with "supersonic speed" on defense capabilities. This a big change from Scholz. New CDU chancellor in coalition with the SPD is Friedrich Merz who with a popular former defense minister Pistorius from the Scholz coalition and the new SPD finance minister in the Merz coalition Lars Kingbeil, is changing the way Germany looks at investing for the future. It has embraced defense of Europe and modernization of German infrastructure. German federal elections gives the coalition of Merz the 28.6 votes percentage of CDU/CSU in addition the SPD's 16.4% for governing with 45% of the vote, and additional 11.6% of SPD's ally the Green Party which supports it outside the coalition for total 57%. For this reason it is a coalition government with real clout to get things done for Germany's modernization. Much of the media focus is on AfD's far right 20.8% but this has been offset by the Left Parties gaining 14% of the vote in the formerly communist East (GDR) where the AfD is based. Thus about 60% of German voters support Merz/Lingbeil/Pistorius for some far reaching action by Merz well into 2030, for the first time since reunification in 1990. To add to this most of Europe including Germany under Merz has embraced a tough line on illegal migration similar to DJT in US so that far right AfD gains from discontent have reached their high point at 20.8%.   ...

LyrArc Article Gist
This WSJ report by Collins, Belkin, Parti and Whyte takes an indepth look at the issues surrounding anti-semitism on US campuses, in particular UC Berkeley, U Penn, Harvard, Columbia universities. It looks at what happened in the first term and how with the Gaza war the issues of antisemitism on US campuses increased and the DJT administration, Education Secretary McMahon, Assistant Attorney General for Civil Rights Harmeet Dhillon, and domestic advisers in the Trump administration, decided it was time to rein in the antisemitism seen at top ranked universities.  On the campus of UC Berkeley in Feb 2019, Hayden Williams was a young conservative activist who set up a table to recruit students to Turning Point USA. He was punched in the face in an argument which attracted media attention. DJT said at the time that "we got to do something about this." In meetings with Hayden Trump discussed actions such as cutting off federal funding to universities with free speech violations. This is the genesis of the current action says WSJ where Harvard faces cut offs of funding for lack of action to control antisemitism on campus and the president asking Harvard to stop enrollment of international students. Some international students have been involved in the activism tending towards antisemitism.  There is also the sense that some universities are admitting far too many, as many as 40% of the enrolment, from overseas students- a form of neglect of local American students, who now have less access to the resources that the federal government is giving to these universities which they should be entitled to as Americans. U Chicago, Harvard and Penn are in the 30%+ range for overseas students and Columbia around 40%. ...

LyrArc Article Gist
Small business and farmers are driving a recovery in the Indian economy in the latter half of 2020 after the impact of the pandemic. Rural India with demand from farmers for cars and tractors is also helping build demand. Maruti Suzuki, India's largest auto manufacturer, had sales increase of 10% in rural India vs. 4% overall in the third quarter of 2020. Manufacturing and farm sector are leading the recovery. Transport and hotel, airlines are also seeing an increase in demand. From 2 million in June airline passengers have increased to 5 million in September compared to 12 million before the pandemic. The second generation reforms made by the Modi administration and the many initiatives are expected to boost the potential growth and scale of the Indian economy. Building a strong manufacturing sector and getting foreign investment in that sector is also a critical step to building the economy's growth potential. Working with Taiwanese investment and investment from the U.S. and the European Union is part of this effort. ...

LyrArc Article Gist
Classic DJT letter to Japan. WSJ annotates the letter but its annotation does not say that Japan has used the relationship with the US to its advantage, putting the US companies and industries at a serious disadvantage since 1970's. US Trade Representative under DJT first term 2016-2020 was Robert Lighthizer. Lighthizer was Deputy Trade Representative under Reagan in the 1980's negotiating with a Japan that would concede little. 2024 USTR Jamieson Greer was Deputy Trade Representative under Lighthizer. The Letter starts setting the tone that we have borne Japan's unwillingness to negotiate fairly with patience, ends stating we are ready to act. "It is a Great Honor for me to send you this letter in that it demonstrates the strength and commitment of our Trading Relationship, and the fact that the United States of America has agreed to continue working with Japan, despite having a significant Trade Deficit with your great Country." "We have had years to discuss our Trading Relationship with Japan, and have concluded that we must move away ....Our relationship has been, unfortunately, far from Reciprocal...Goods transshipped to evade a higher Tariff....If for any reason you decide to raise your Tariffs..." ...

LyrArc Article Gist
Karishma Vaswani of the BBC points out that the Trump administration tariffs and the response from China with tariffs of its own, are not the beginning of a trade war but negotiating tactics of both sides. Behind the scenes and behind the declarations and position statements both sides are talking to each other and considering the options open to each. The U.S. position is that China has emerged with a bigger share of the global economy by dumping products, subsidizing its industries from solar panels to high tech ventures, and stealing American technology by forcing U.S. firms into joint ventures that increase pass through of advanced technology. U.S. firms seeking access to the Chinese market or using China as a manufacturing base such as Boeing, Apple, GE and other high tech companies are in ventures or manufacturing arrangements where China has access to advanced American technology. Nathaniel Taplin in his article in the WSJ also sees this as a negotiating position set out in the U.S. for talks with China. Taplin says the U.S. is in a stronger position in this negotiation because of the huge surplus of about $300 billion that China now has with the U.S., and which is increasing in 2018 with the strength of the dollar. The Trump administration is looking to correct the trade imbalance in the future by focussing on China's access to advanced U.S. technologies in the next phase of competition between the U.S., Europe and China. This limited objective is more likely to lead to concessions by China Taplin argues, because of two reasons. China needs the dynamism of U.S. firms and technology advances because these firms and Chinese firms that are getting foreign investment are the most productive part of the Chinese economy with jobs generated, rate of return about twice that of inefficient state run firms. China also needs access to advanced U.S. and European technologies even in a limited form as it pursues further modernization.   ...

LyrArc Article Gist
If the trade war escalates to the point at which president Trump imposes tariffs on all Chinese goods imported into the U.S. on Jan. 1, 2019, China could retaliate with its own tariffs and this might affect Boeing aircraft as well. The results would be to tip the economies of both countries into a recession, and affect Mr. Trump's best chances for reelection in 2020. This can happen as Mr. Trump has a great deal of confidence in his negotiating style. The negotiations so far have shown China misread the U.S. and Mr. Trump leading to a strong U.S. response.  There is also the importance of not losing face, Mr. Xi's domestic audience, Chinese industry that sees a fundamental change from state subsidies model as eroding its position and offering resistance, patriotic sentiment making it harder to meet U.S. demands. Fundamentally for Mr. Trump it is about U.S. trade deficit and changing the huge trade surplus of almost $1 trillion that China enjoys each year with the U.S. which has been and is no longer sustainable. Mr. Trump also has the backing of Republicans on this issue and Democrats cannot afford to be soft on this issue as it involves American workers and jobs are at stake. Both sides could be in for a protracted negotiation as Mr. Trump feels it is right for Americans to expect fair trade and technology transfer that respects American concerns. In addition the U.S. could sense that it exports less to China, is less dependent on exports than China, and as the party that is hurt by unfair practices insist on its position. After Japan agreed to U.S. demands that it reverse a huge trade surplus in the seventies in which Mr. Lighthizer was the negotiator its growth declined sharply and is economy stagnated. China may sense inside that this could happen to its economy. Today Lighthizer the U.S. negotiator and Trade Representative could also push hard because of he was able to convince Japan to change its course. ...

LyrArc Article Gist
Eighteen Senate Republicans under Mitch McConnell, the Minority leader in the US Senate, hold firm to support all Democrats for aid to Ukraine bill. This includes Senator Tillis of North Carolina who vigorously supported the aid bill on the floor of the Senate. Senator McConnell said "It is become fashionable in some circles to disregard the global interests of a global power, to bemoan the responsibilities of global leadership. It is idle work for idle minds, and it has no place in the US Senate." Mr. Trump and some Republican senators helped kill a immigration compromise legislation that Mr. Biden said would make it possible to close the border the day it was passed. This group also opposed the aid bill and lobbied to get the aid bill killed in the US Senate.

LyrArc Article Gist
Airlines are facing cuts to flights upto 70% and preparing for different scenarios in cuts to air travel. Cash flow is critical, and airlines are raising more cash using aircraft and landing slots for loans and to issue aircraft backed bonds. The latest cuts to flights as more countries lock down including Spain, and stop to flights from U.S. to Britain, is creating a situation in which some form of government assistance may be needed for airlines to continue to operate. 

LyrArc Article Gist
Kramer, McIntire, and Meier of the NYT, provides this indepth account of Trump top campaign aide Paul Manafort's consulting work in Ukraine for Ukraine's president Yakunovych, ousted after protests in Kiev. Ukraine's newly formed National Anti-Corruption Bureau is looking into corruption in Ukraine's system, including corruption in the Yakunovych years. It is this corruption that has hurt Ukraine and other Eastern European countries in their move towards becoming properly functioning democratic states inside the EU or neighboring the EU. Much aid has been sent to Ukraine by Germany and the EU to help Ukraine develop a democratic and economic framework free of cronyism and corruption. Manafort's involvement with interests in Ukraine and Russia during a period of long and persistent protests in Kiev, followed by the ouster of Yakunovych and the war with Russia, when the policy of the U.S. and Europe was to protect Eastern European  member states of the European Union including Poland and the Baltic States, and reach some form of settlement in Ukraine, are controversial. Andrew Kramer of the NYT describes Manafort's consulting company's activities in Ukraine during this tense period, and how it may have have been counterproductive to the constructive efforts of the U.S. and the European Union. ...

LyrArc Article Gist
Methane is a greenhouse gas that can warm the atmosphere 80 times as fast as carbon dioxide in the short term. Methane leaks out of oil and natural gas wells and is produced in burning of oil, natural gas and coal. It is also produced by livestock and landfills. US president Biden and 90 countries have pledged to control methane gas emissions at COP26 in Glasgow by signing a methane pledge. The methane pledge is for reducing methane emissions by 30% by 2030. US, EU, Nigeria, Indonesia have signed the pledge. China, Russia, India have still to sign the pledge.

LyrArc Article Gist
After severe weather related events in the last 4 years, droughts, fires, earthquakes, and floods, insurers have felt the brunt of climate change. Most insurers in the US have responded to this by cutting back on fossils, not State Farm and Berkshire Hathaway which are still betting on fossil fuels with multibillion dollar bets on oil companies, says this WSJ Exclusive report. WSJ reports that the fossil fuel holdings of casualty and property insurers are now $85 billion compared to $54 billion in 2014, now 4.4 percent of the portfolio of these companies compared to 3.8 percent in 2014. This is part of Lyrarc's Climate Change Action Guage, you can see other articles on this section clicking on Climate Change Action on the left bar navigation. It keeps track of a crucial part of American and World Renewal.

LyrArc Article Gist
The U.S. imposes tariffs of 10% on aluminium and 25% on steel imported from Turkey, in an effort to offset the effects of a weakening Turkish currency. The lira has dropped by 36% in 2018 so far. 

The U.S. has placed sanctions on Turkey and demanded the release of a U.S. pastor detained in Turkey.

The sanctions have increased the drop in the Turkish Lira, with the Lira dropping 14% on August 8, 2018.

 

LyrArc Article Gist
India's effort to turn coronavirus into an opportunity to plan future growth around "AtmanNirbhar Bharat" a self reliant economy that is working closely with allies Britain and France in Europe and Japan, Taiwan in Asia, with the U.S. for shift of supply chains to India, promoting accelerated investment in local manufacturing, and building the third largest economy after the U.S. and China. President Trump has stated supply chains in their existing form have not served America well, if at all.  Mr. Trump said about existing supply chains-"I said we should not have supply chains." Gandhian self sufficiency was of a different sort when the nation was not independent. It serves as a symbol today of the spirit of the freedom struggle and in this sense revives the capacity of the nation to take on new challenges. Nehru's was a peculiar sort of socialism that set a pathway to early industrial development but lacked the will and spirit to pull the nation out of dependence on agriculture for most of the population,and move it with a combination of land, labor and laws, with a quantum leap in technology into a new world that is the plan today.  ...

LyrArc Article Gist
This Washington Post article by Henry Farrell explains the implications of the 2016 EU ruling on Apple asking it to pay 13 billion euros in back taxes. Other countries in the European Union are upset that Ireland is taking away business and siphoning away tax revenues from their country, and giving most of it back to Apple. Normally the European Union Commission does not have authority over taxes in the member states. However considering the social and political implications at a time of deep recession and political upheaval in the EU and the U.S., the European Union Commission under Margarethe Vestager has seen it proper to look at arrangements in which companies come up with tax arrangements that deprive member states unfairly of tax revenues- revenues that could support social welfare and basic education, healthcare services at a time of painful cuts. A tax rate of .005% in 2013 for Apple is cited by Vestager as she points out that Apple's taxable profit does not correspond to economic reality, as most operations are conducted outside Ireland. Ireland is just on paper the tax location for EU operations. Vestager has thus come up with a legal approach based on Ireland's tax arrangements being a form of illegal state subsidy, which is not allowed under EU rules, and gives the EU Commission authority to require that it be reversed by paying the back taxes of 13 billion euros. Farrell answers the question why the U.S. Treasury is saying that Apple should not have to pay these taxes, as the U.S. also hopes to get some of these taxes at some future date with Apple repatriating profits to the U.S. under a still to be set tax arrangement. ...

LyrArc Article Gist
Working America, an arm of the U.S. trade union the AFL-CIO, conducted conversations with 350,000 voters in 17 U.S. states. Here a representative of Working America, says the overwhelming response to the question "does it make a difference whether Democrats or Republicans are in power for my well being," is reflected in one of the responses- "does it even matter?"

The suggested approach here is for Democrats in particular who have represented working class voters in the past, to start with a fresh approach by creating new conversations with working class Americans.

LyrArc Article Gist
European Travel Information and Authorization System  ETIAS fee $24. ETIAS for travel to Europe starts late 2026. Visa free countries will still need visitors to get ETIAS a form of travel clearance. This means US, Japanese, Canadian and UK visitors to Europe will need to apply online before entering European countries. The authorization will be valid for 3 years or until the passport expires whatever comes first. Travelers may not stay more than 90 days in a 180 day period. Children under 18 and adults over 70 years will be exempt from the fee. Once one enters personal details the authorization is digital and received in minutes.

LyrArc Article Gist
Helen Gao provides this exceptional story of how 544,000 Chinese students studying abroad far from being success stories are facing stress, anxiety, depression to an unusual degree. About 329,000 of them are in the U.S. where the $50,000 to $60,000 college tuition cost is ten times the disposable income of a Chinese family. For working class families study abroad means using up savings. Researchers at Yale in a 2013 survey found 45 percent of Chinese students on campus had symptoms of depression, 29% had anxiety. This is similar to other universities in the U.S., Australia and Britain with large Chinese student populations. Language barriers and cultural barriers pose a problem particularly in student interactions with advisers and professors. Liberal arts studies emphasize critical thinking and other skills that are not found in a results oriented, memorization from note cards oriented system in China, creating academic stress. Worse what awaits students who return is not enough recognition for years spent studying in a different environment- about 80% of Chinese students from abroad earn a mere $1500 a month, according to a Beijing think tank Center for China and Globalization report done with a recruitment agency Zhilian Zhaopin. As she talks about the experience of other students from China, Gao describes her own anxiety attacks during 8 years of study in the U.S. Her father sent pictures after his first visit to the U.S. in 1995 says Gao, with words about how he wanted his daughter to see the U.S. with her own eyes, the beauty of the country and its spirit. Years later Helen Gao of Beijing sees a different America as she walks from one Harvard campus building to another in 2015 during her last year of graduate study, one that brings anxiety, financial insecurity, and uncertainty about the future.   ...

LyrArc Article Gist
The Medicare for All movement in the U.S. gathers momentum after the U.S. midterm elections with states. Governor Newsom of California says he will seek federal authority to setup a state single payer plan for health insurance. An expert at Georgetown University says there is a new burst of energy for broader coverage or universal health coverage. States with new governors or seeing this momentum are California, Washington, New Mexico, Maine, Nevada, Delaware, Oregon, Connecticut, Wisconsin, Michigan, Illinois. Polls show a large majority of Americans now support Medicare for All as a form of universal health coverage for all Americans, a system that prevalent in Canada for the last 50 years. Two hearings will be held in Congress on Medicare for All in 2019.

LyrArc Article Gist
11 Pacific Rim nations form the Trans-Pacific Partnership in 2018. The Obama administration supported the trade pact alienating supporters in its union base particularly in the midwestern states. Mr. Trump opposed the TPP in his election campaign and made it a significant issue for swing voters in midwestern states after job losses in the auto industry. With the opposition of president Trump the U.S. decided to withdraw from TPP.  The 11 nations agreeing to join a revised agreement are Japan, Canada, Mexico, Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam. So far six countries have formally approved the deal, Australia, Canada, Mexico, Singapore, New Zealand and Japan, setting the stage for two rounds of tariff reductions starting December 30, 2018. Agricultural products duties will be duty free within 3 to 7 years including for Japan and Mexico. Australia, New Zealand, Canada are major agricultural exporters. Japan supported the deal as a way to counter China's influence in the region. In the U.S. the gains would be in intellectual property rights but losses for workers in the auto and manufacturing industries, a point Mr. Trump recognized in his election campaign as he campaigned in the midwestern states. Mr. Obama pursued TPP over objections of workers organizations and unions including auto workers union, with his advisors suggesting this as a way to counter China's influence in the region. By 2018 the Democratic party support base fractured on this as one of the major issues.   ...

LyrArc Article Gist
Living Planet on DW.com takes us on a trip through the Amazon to see how the region has changed with climate change. The related changes from settlers and cattle farms, new dams and dikes, are changing the course of rivers as large as the Rhine in the Amazon region of Brazil. Some of these rivers are disappearing or changing course in these changes with the impact of hundreds of thousands of buffalo, and the impact of dams diverting the waters.

LyrArc Article Gist
Changing governments and loss of the vision of the labor movement in the early decades after independence has led Israel to this impasse. Benny Gantz of the wartime Unity government calls for new elections in September as demonstrations for a new government take place in Jerusalem and Tel Aviv. US president Biden tells Netanyahu on Thursday that US support hinges on treatment of civilians in Gaza. Biden says he "outraged and heart broken" at the airstrikes on aid workers vehicles in Gaza. Gantz, a former general and prime minister of Israel, said- “This agreed-upon date for elections will leave us time to continue the security effort, and it will allow Israeli citizens to know that we will soon need to renew the trust between us,” he told a news conference. “It will prevent the rupture among the people.”  One of the problems Israel faces is the political fragmentation, many parties and frequent elections leading to changes in government unlike the early decades after independence when the Labor party offered effective leadership. The social Labor and agriculture farms movement is how Israel started and prime ministers till 1980's were from this Labor and farms movement including David Ben-Gurion and Golda Meir. As Israel evolved into a more technology oriented state this aspect was lost leading to a great measure of inequality, and changing governments without a clear vision for the future.   ...