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1.1 million EVs were sold in US in 2024, compared to 1.4 million hybrids. Hybrids have made a comeback as sales of electric cars are slowing in US in 2024. Constraints being lack of enough charging stations, price of electric cars still high, driving range limited before recharge. Hybrid car sales are surging helping Toyota after a too cautious entry into EV's. Now the Biden administration is looking at the targets and how to make the transition smoother. Toyota is pushing back on strict environmental rules that expect 67% of cars to be electric by 2032.  The 2021 executive order by president Biden was for 50% target by 2030 and this included hybrids.  The gradual shift would make it less costly for the public to replace the cars and help first time buyers wanting to try it out do this with hybrids as an option. As a quick guide 12000 pounds of carbon dioxide for global warming are given out by gasoline only cars, half or 6000 pounds by hybrids like Toyota's, and half again 3000 pounds of carbon dioxide by all electric like BYD China's or Tesla/GM/VW. The actual numbers are confirmed by Dept of Energy 2022, and MIT 2019 studies- 2727 pounds all electric, 6898 pounds hybrid, and 12594 pounds all gasoline. ...

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Democrats feel the landscape has shifted in their favor for the midterms in 2022 after the US Supreme court ruled against abortion in its Roe vs Wade decision. Democrats feel they can now appeal to more women and to independents and that this issue has energized some of its campaign base. The Kansas vote affirming abortion rights has further energized Democrats.

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Hardship withdrawals from 401(k)s reach high of 4.8% in 2024. Analysis of 3 million retirement accounts at Vanguard research for 2008-2022 shows higher volatility for hourly paid workers than salaried workers. Hourly paid workers have income swings of 15% compared to salaried and when they leave an employer often take out savings in 401(k)s- 42% with income $50,000 to $75,000 took out their savings compared to 28% in salaried group with same income. Many do so to deal with emergency needs. Thus income volatility hurts workers savings in the hourly sector.

A US law passed in 2022 lets employers automatically enroll employees earning less than $160,000 in emergency savings accounts that they can put in $2500 every year in a Roth type account and withdraw from it penalty and tax free. This is helping some employees avoid touching their 401(k)s.

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India Canada nuclear deal 2026. India to build portable nuclear reactors. India Canada trade to double to $50 billion by 2030. Canada's leader Carney visit to India 2026 results in new agreements on trade and cooperation. This follows India's trade deals with Germany, and with the European Union. It is a rapidly evolving trade landscape in 2026.

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Greg Ip looks at the Chinese economy its strengths and and many weaknesses including debt and declining foreign investment in 2023, as president Xi visits the US this coming week. With a slowing economy, high youth unemployment and excessive debt, China remains a resilient economy because it has strengths in manufacturing. It would take the US the next decade to build up its manufacturing capabilities after neglecting this important field with mistaken policies for three decades under presidents Reagan, Bush, Clinton, Obama and Trump. President Biden is taking steps for this new manufacturing revival to take place.

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The P5+1 countries in the Istanbul talks with Iran are the five permanent members of the Security Council and Germany. Catherine Ashton, the EU's senior foreign policy official is the lead negotiator. Saeed Jalili is the lead Iranian negotiator. By July the two groups have held three rounds of talks which proved inconclusive and were lowered to meetings at the deputy level in July, 2012. This was followed by bellicose statements from Iran and U.S. defense preparations in the Gulf of Hormuz. The Israelis described the situation as reaching a critical point, with the U.S. continuing to put its faith in tighter sanctions to persuade Iran to give up its program.

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The role of Merz and Leyen of the CDU is bigger than is grasped in the trade deal with India and the change that Germany has made in shifting the gaze and engagement of the European community towards the 1.4 billion people of India for a new start after the disappointment of the relationship with China from the Merkel years. Merkel completely failed to understand China its history, and Asia and its history. India as the homeland of Buddhism is the source of the spiritual culture of China and Japan, Korea and Vietnam. The intervening period of invasions from north in the 15th to 17th century and British rule and the European early shift to science and industry in the 18th to 20th century has acted as a hazy atmosphere that clouds many perceptions of how Indian, Chinese, and Japanese history has evolved.  For Merkel there was the additional layer of misperceptions from the period growing up the GDR, or Communist East Germany in Soviet influence. This is why Merz completely fit into the Kite festival mood and atmosphere on the banks of the Sabarmati in Ahmedabad and at the Sabarmati Ashram of Gandhi in January 2026. Leyen also of the Christian Democrats could grasp the fact that German philosopher Schlegel translated the Bhagavad Gita from Sanskrit into German soon after Charles Wilkins did this in 1724. People to people ties have great potential to develop between Europe and India now that the engagement is set for the next 20 years at every level by Leyen, Merz and Modi, so that the world is completely transformed in ways that can never be imagined today.  ...

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Eighty thousand Indian students are studying in Europe in 2024. 6000 Indian students have received Erasmus+ Scholarships since 2004. DW.com looks at the growing presence of Indians studying in European countries. Young Indians are taking a growing interest in the world and seeking new opportunities overseas.

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U.S. president Trump signs an executive order on March 28, 2017, reversing the American commitment to the Paris climate change agreement. The executive order also lifts a moratorium on the sale of coalmining leases on federal lands. The Obama administration 2015 clean power plan was designed to restrict greenhouse gas emissions from power plants. It was blocked by courts in 2016. Trump says he is reversing president Obama's war on coal. Earlier he approved the Keystone pipeline for bringing oil from oil sands in Canada to the U.S.. Under the Paris agreement the U.S. agreed to cut greenhouse gas emissions 26-28% by 2025 from 2005 levels. Market changes including the availability of cheap natural gas from technology advances fracking and hydraulic fracturing is leading a shift away from coal, apart from Obama administration regulations. Another factor is the long term trend towards cleaner energy, with large energy producers such as American Electric Power and other companies planning for the long term which is likely to be in the direction of cleaner energy. These companies see the Trump administration changes as a situation that may not be for the long term. ...

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Dexia, a European bank based in Brussels and Paris, borrowed $300 billion from the U.S. Federal Reserve in the financial crisis of 2008. Dexia supports the U.S. municipal bond markets. Dexia guaranteed bonds issued by various municipal entities in the U.S. Buyers of these bonds were money market mutual funds.

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Boris Johnson, British prime minister has a close knit team in the new cabinet. The separate back office teams of the prime minister and the chancellor are now integrated so that there is a clear direction coming from 10 Downing Street. This was not happening when Mr. Javid was chancellor as there were wide differences on policy and compromises were being made. Mr. Javid was in the views of Mr. Johnson's team too focused on balancing the budget. Fiscal rules had to be relaxed if infrastructure promises are to be kept and action taken quickly. Mr. Johnson told his new cabinet at the first meeting- "we have to repay the trust of people who voted for us in huge numbers in December and who look forward to us delivering."

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T20 World Cup 2026 Player of the World Cup 2026 Sanju Samson with 2 89 run scores in quarterfinals against West Indies and Final against New Zealand.

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Elvira Nabiullina, head of Russia's central bank, is a think tank economist who was Economy minister before becoming chief economic advisor to Russian president Putin in 2012. She is one of the liberal economists in Russia who see the years of economic growth following ruble devaluation in 1998 as an example of how devaluation can actually help the economy. The devaluation lowers costs for manufacturing and agriculture, and is seen by some economists as having done more than oil price increases to help the Russian economy grow during president Putin's first term from 1999 to 2004. Nabiullina's position to support a free float after the sharp decline in the value of the ruble following the plunge in oil prices, is based on the need she sees to use the crisis to reduce Russian overdependence on imports. This policy had other advantages by reducing the need to tap Russia's foreign currency reserves to defend the ruble. Russia's gold and foreign currency reserves are at $385 billion. In Jan 2015 the central bank cut interest rates. A policy of increasing rates would trigger a sharper recesssion. Russia faces a unique situation in that the oil price decline and the decline in the value of the ruble occurred at about the same time of about 50%, so that the budget continues to be balanced. The number of rubles coming in from oil exports remains the same after the crisis. Nabiullina told Russia 24 television- "We have to live in a different zone, Russians should orient ourselves more toward our own sources of financing projects, and to give a chance to import substitution."...

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Xi Jinping's effort to shift the economy of China more towards serving the interests of Chinese who were left behind in the boom years includes a shift away from coal, away from real estate for speculation, and away from reliance on trade with the US and Europe as a driver for growth. This is proving to be difficult as the pandemic has increased demand for Chinese exports making trade a bigger driver for growth than before the pandemic. Introduction of a property tax to cut into real estate speculation has been scaled down to trials in 10 cities.  China did not put stimulus checks in the accounts of its people the way the US did which has led to Chinese domestic consumption not rebounding the way it has done in the US. Figures for consumer spending in China for September show an increase of 4.4% from the year earlier far below the pace of 8% set for 2019. The lack of social security and other safety nets in China makes people to save even more today. Chinese savings rate was 40% in 2019, today it is 45.2% for May 2021, according to one survey. Personal consumption makes up 38% of China's GDP in 2020, it was 39% in 2019. In the US it went up in 2021 June to 69% compared to 67% by the end of 2020. Infrastructure and construction deepened debt problems in China, and expanding exports created trade tensions. Both these problems have deepened with the pandemic. As this report says Chinese exports have gone gangbusters. Problems in production in Vietnam and Malaysia have added to export surge from China. China's trade surplus with the world is now at $535 billion in 2020, and surplus with US increased by 7% to $317 billion in 2020 from 2019.  Chinese government policy is now for "common prosperity" to reduce inequality and spread wealth and income more evenly for all the Chinese people. This is taking time and Chinese government policy is now set for the long run with these short run problems. ...

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Chloe Kelly of England soccer gets in the winning kick in Euro Finals. England beat Spain 3-1 on penalties. This analysis in The Guardian goes over how Chloe Kelly survived obstacles to come back into English soccer and make a difference in games against Sweden, Italy and Spain. She had a falling out with Gareth Taylor at Manchester City and her deadline day decision for transfer to Arsenal played apart in reviving her spirits. By reviving her game she put herself in coach Sarah Wiegman's plan for the Euros soccer this summer. She came in after Lauren James was pulled out following ankle injury in the first half. The wingers pace and running came in as a threat to Spain's back line of Batlle and Paredes which had benefitted from the James injury. With Bronze and Hemp, Kelly changed the game in the second half as has so often happened in this tournament. In a previous game in the Euros England had also fallen behind in the first half and come back in the second half. A pass from Chloe got the equalizer with a header from Alessia Russo. The game then went into the extra time 1-1 and England won 3-1 on penalties. ...

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DJT fires BLS labor statistics Commissioner, Erika McEntarfer, following 258,000 downward revision of jobs added, 90% of the jobs shown earlier in  June-July 2028 disappearing. This BBC report and others say that revisions are common. What it does not say is that revision of this size is rare, almost 90% of the jobs created shown earlier are now shown to be non existent, without any serious effort to give an explanation in the statistical data gathering and how it could have overreported the jobs created by 90%. Imagine Jay Powell at the Fed putting this out and not laboring to explain this as he does so often on inflation. Department of Labor owes an explanation of how it is doing the statistics when- BLS revision 144,000 jobs to 19,000 for May 2025- 87% of jobs reported disappeared. BLS revision 147,000 jobs to 14,000 for June 2025- 90% of jobs reported disappeared.   ...

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A day in the life of the US president on March 23-24 2026. It includes a ,visit to Graceland in Nashville, the Elvis Presley mansion, and other places.

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DW.com's Ines Pohl says the U.S. presidential election campaign in 2016 with Donald Trump is a reflection of the state of American society today. She says lets not kid ourselves, what is happening is a reflection of the changes in society, demagogy as a reflection of the society we live in- people's lack of interest in serious issues, the loudest getting heard, less interest in checking the facts, and looking for a good show or entertainment in the debate. She points to problems in today's society, new technologies in media, that have fostered a new kind of shallowness. This includes fragmented social media groups, media that allows scapegoat theories to thrive, and elites or people in authority that lack the ability to respond to the challenges posed by this. She rightly points out that it goes beyond this campaign season and will continue into the future till it is resolved. What would Abraham Lincoln think of this, or what would George Washington or Thomas Jefferson think of this? LyrArc has frequently quoted these lines from a letter by Washington to Jefferson in Feb. 1783, and in the First Letter from the Editor- "To merit the approbation of good and virtuous citizens is the height of my ambition;  and will be a full compensation for all my toils and sufferings in the long and painful contest that we have been engaged." Washington told his countrymen in his draft of the First Inaugural Address that "there is no truth more thoroughly established, than that there exists in the economy and course of nature, an indissoluble union between virtue and happiness, between duty and advantage, between the genuine maxims of an honest and magnanimous policy, and the solid rewards of public prosperity and felicity." This has profound meaning and is truly applicable in meeting the challenges America and Europe face today.   ...

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Alex Frangos and Sudeep Jain's interview with Duvvuri Subbarao, the governor of the Reserve Bank of India, India's central bank. India's economy is slowing with higher inflation, higher interest rates, inability of the government to make firm decisions on foreign investment, a declining currency, and a growing deficit. Subbarao has come under criticism for keeping interest rates low for too long after the 2008 financial crisis, and then as higher inflation persisted making a number of interest rate increases in 2011, which reduced the credit flows in the Indian economy. Subbarao's defense of his policy of not acting earlier on interest rates and then raising interest rates repeatedly, is that the economy need stimulus in the years after the global financial crisis. He says the inflation in the early stages was a result of a supply shock in food prices and would not have responded to interest rate adjustments. Inflation declined from 9.1% in November 2011 to 7.5% in December. Subbarao says the interest rate increases are over and he is looking for the right time to increase credit flows in the economy. His remaining concerns are with the fiscal deficit, and he called on the finance minister to map out what he plans to do for the fiscal deficit. He expects the deficit for the current fiscal year to increase from 4.6% to 5.5%, as the cost of fuel subisides rises and tax receipts decline. He calls for the removal of subsidies on liquified natural gas and electricity, but concedes that this will be difficult in an election year. Looking back Subbarao sense is that the central bank's policy actions were well calibrated....

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Arms deals for Gulf Kingdoms $8.6 billion approved May 1 2026.

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The U.S. perception that the shadows from the period of non-alignment in the Nehru era still linger in Indian policy, a sort of ambivalence that has denied India's true potential as an alliance partner for the free world. A perception in the U.S. that has not seen the true potential of the largest population in the world of 1.5 billion people in India and Bangladesh has also colored perception of the relationship. This population is now at a point at which a broad based development is not only possible (sab ka vikas sab ke sath) but also moving at an accelerated pace. With a combination of cumulatively increasing inputs of technology, capital, land and educated labor force this is now at the potential of becoming a very doable world changing event by 2035- a $20 trillion economy by doubling every 5 years based on renewable energy and dedicated to health, education and development. What makes this a world changing event is the opportunity to meet the aspirations of about 2 billion people in India, Bangladesh, Indonesia and surrounding nations, offering new hope for Africa and Latin America. For this the U.S. commitment cannot have any traces of ambivalence, and the Indian commitment cannot have any traces of ambivalence. India needs one more change in its perceptions - to realize that for the first time in its history that this is within its reach. ...

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Surcharges from Covid era coming back in 2026.

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Saudi Aramco raised $26 billion in 2019 IPO compared to SpaceX to raise $80 billion in 2026.