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Nvidia moves from 5 billion in profit 2022 to $120 billion in 2025 with AI Chips.

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Gerard Baker of the WSJ writes about not getting involved in unnecessary wars and prudent interventions where necessary. He does not bring up the nuclear issue which is the only issue this war was about- is that a prudent intervention where necessary? The other issue is what the Anglo-Saxon,Saxon world and the Europeans think and feel about the Jewish state after the experience deeply unsettling  of World War II for western civilization itself. Throughout 2026 in Britain, UK, Australia and Canada, and in the  European Union, the people have stood by the Jewish people and the Jewish state while also respecting the rights of Palestinian people. Iran's hostility towards the Jewish state, to its elimination, is the reason for the conflict. Is prudent intervention necessary for the US in this context and what is the Anglo-Saxon and European attitude to defending western civilizations thoughts and sentiment?  What does a nuclear weapons state do to the situation in the Middle East- the Arab states and Israel? This is the main reason for the US involvement even as it is committed to no unnecessary wars. A naval blockade during Iranian closure of the Straits is not an escalation, the US did not bomb Kharg Island only imposed a naval blockade. The US is able to sustain this kind of blockade for a long period as it showed in Venezuela and shows in its backyard in Latin American particularly where it is essential that the US stop all drug smuggling on the seas. The Editorial Board of the WSJ has sent warnings to the DJT administration that it would be a mistake to not address the nuclear issue now and to separate it to a subsequent stage as mediators Pakistan and Turkey have arranged for reasons that are not in the US interest- because that would leave Iran to renege on promises and go for nuclear weapons  third time and repeat the failures of the Obama administration. It can be noted that the WSJ reflects the views of the business community in the US which is thoughtful and not prone to overreach or US interventions. Baker is not part of it after resigning as Editor in Chief in 2018. Yet the members of the Board include- Henninger, McGurn, Strassel, Riley, Finley, Noonan, Taranto, O'Grady, Jenkins and many others. It is unlikely that all of these members would have a drastic and strongly interventionist attitude. ...

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The Indian economy is expected to grow at 8.9% instead of the 9.2% estimated earlier for 2021-2022.

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The EU will put up 50 billion euros for a 200 billion euro planned AI investment by Europe, with the rest coming from providers, investors and industry. This was announced at the AI Action Summit in Paris, Feb 2025.

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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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The EU Council meeting shows 85 billion euros of support to Ukraine. It shows EU's continued support for Ukraine and to begin talks for Ukraine's entry into the European Union. This is a remarkable step as the war in Ukraine enters winter 2023-2024. It also shows that the Ukraine conflict has entered a final stage after stalemate in the war in which Russia would control parts of Ukraine in the east and Crimea, and Ukraine enters the European Union. This would meet Ukrainian people's need for sovereignty and lead to the next step of rebuilding and reconstruction of Ukraine. The result of the war are the expansion of NATO to include Sweden and Finland, and the new idea of NATO as protecting the Eastern European countries from invasion.

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The S&P 500 index gained 5.9% the week of October 29th for its best gain since November 2022. For 2023 it has gained 14%. A jobs report showing less job growth of 150,000 slightly higher unemployment at 3.9% and slowing inflation, led the US Fed to pause raising interest rates. This has created optimism that inflation would gradually decline which is good for the economy.

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Manufacturing could be the bright spot for the U.S. in 2021 and the years ahead. The pandemic has hurt industrial production in the U.S. in 2020. This brings manufacturing in the U.S. to a new low. This report in the WSJ says there is hope today because negative trends are about to be reversed. During three decades since the eighties three trends hurt the U.S.- lack of sustained capital investment, noncompetitive labor costs, degrading infrastructure.  To make the reversal of these trends and raise American manufacturing to what it was after World War II attention is being paid to these negative trends. The response- a quick recovery from the recession,  localization of supply chains, technological advancements to close the gap with competitors. By market capitalization on S&P 500 the U.S. manufacturing industrial sector was 15% in 2000, in 2020 it is 9%. Hope today lies in the determination to reverse the trends in this sector and regain leadership. Even in the aerospace sector the determination and legacy of American manufacturing is strong. Recently the WSJ ran a story on how David Farr, the CEO of industrial company Emerson Electric, which makes automation equipment for factories and aerospace parts based in Ferguson, Missouri, managed his company through the pandemic so that it was posed to return quickly to full production. Against all the hurdles he would not give up and fought hard in each battle with suppliers, governments and the pandemic.This bodes well for American manufacturing coming back on quickly even in tough markets such as aerospace and automation. Other factors WSJ mentions are quick reversal in hit to earnings, robust demand. Consumables have sprung back up fastest, but automobiles are also holding up in demand. This leads us to the localization of supply chains. Companies realize the risks of tensions in the South China Sea and technology theft today in a way that they did not before and this is changing the mood resulting in plans to move production onshore. Warnings from the Trump administration played a role with new tariffs on Chinese imports. Shipping products halfway around the world no longer makes sense, especially in losing control of supplies. Emerson depended on production off shore in China and other countries and panic from the pandemic set in quickly that everything would come to a halt as supplies stopped coming and Emerson could do nothing. The economics WSJ points out are also different today with labor cost inflation in China and labor cost deflation in the U.S. which improves U.S. competitiveness. To make U.S. labor cost competitive with China says Scott Davis in WSJ, one has to make the same quantity of product with half the employees, and this is now possible with automation technologies in 2020. The result is that even at this low point in manufacturing one can see the future is bright for the USA as it moves rapidly to rebuild the strength in manufacturing it had for most of the twentieth century. ...

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Highlights from Euro 2021 round of 16 soccer from DW.com. 

Germany barely made it with a late goal from Leon Goretzka to make it 2-2 after Hungary led 2-1 till the final minutes of the game. Hungary gave France and Portugal a tough time in their matches. Italy showed excellent defensive skills and was one of the most improved teams says DW.com. Jorginho of Italy competes with Cristiano Ronaldo for most valuable player in Euro 2021. Ronaldo scored the most goals in Euro 2021.

The best goal scored was from Patrik Schick of Czech Republic with his goal from over the halfway line against Scotland using excellent technique.

The best performance for "hanging in there and self-belief" goes to Robin Gosens of Germany who scored one goal and two assists in the all important 4-2 win against Portugal.

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EU to commit 200 million euros for civilian nuclear energy 2026. The second world Nuclear Energy Summit opens in Paris. Leyen commits the $200 million guarantee .for small modular nuclear reactor investments

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US trade deficit of $46 billion with India and DJT call to buy oil and gas from the US, to shift away from purchases of $50 billion of oil from Russia, of 2 million barrels a day. India only imported $1 billion of oil from Russia in 2020 and this is a call from the US to India to stop financing Russia's increasing air attacks on Ukraine in August 2025. For India this oil came at $70 a barrel when prices were around $90-$100 a barrel in 2022-2024. In 2025 oil prices are at $60 a barrel, and even if prices increase to $70 a barrel India can make the shift. US and Germany, the EU, Britain which seek negotiated end to the war in Ukraine will continue to pressure India in 2025. Russia could shift some of the oil to other places but the huge demand from a country India's size will not then be seen as a factor in prolonging the war. India needs to think ahead for the next 20 years and its goal of modernization by 2047 like China has done in 2000-2020. And not get into a nationalistic mode that may not be in the best interests of the Indian people seeing that this may serve the interests of all nations including Russia to phase out this European war. ...

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A younger team from Britain takes on Canadians in curling and loses one more time at Milan Olympics.

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The sport of Curling at the Milan Olympics and Britain's role in the sport. Curling sport Explained by the BBC Sports.

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Germany is facing a shrinking market for its electric car exports to China as local makers dominate the market in China for the first time in 2023. BYD is China's largest e-car maker and is growing much faster than American or European makers. Every second e-car worldwide in 2023 is made in China. Germany's e-car exports are 60% of what they were in 2022. BYD sells 20 times more e-cars in China than VW.

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A tipping point happens when a small push can create a large outcome. Energy experts say we are at tipping points for renewable energy because cost of renewables solar and wind plants is now lower than fossil fuel new plants. Another tipping point is when new renewable energy plants have less cost than old fossil fuel plants. Another tipping point is when storage and production of renewables cost less than new fossil fuel plants. The first is already here and the second and third points are being reached in 2023 and 2024. Another tipping point is the confidence point and this is when it is no longer necessary to use fossil fuels because the costs are just too high. Once this is reached renewables are the first choice around the world. The world is now reaching this confidence point. Germany's Energy and Economy Minister Habeck says Germany will be 80% on renewable energy by 2030.