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US Secretary of State Marco Rubio says of the talks with Iran in Feb 2026 - “I won’t speculate how far away they are, but they are certainly trying to achieve intercontinental ballistic missiles. And I would say that the Iranian insistence on not discussing ballistic missiles, it’s a big, big problem. And I’ll leave it at that.”

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NPR showed this report on December 2, 2022, which pertains to the debt ceiling vote. About a third of Republican pickups in the Congressional elections came from an unexpected place New York state. These moderates 4 from Long Island alone, come from districts where Democrats are a majority and they risk being defeated if they are not careful to let extreme Republicans get their way in a way that offends New York's voters. This has relevance today because 213 Democrats in the House have signed a petition to force a vote in the House. Five moderate Republicans are all it would take to get the 218 votes to pass lifting the debt ceiling.

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French premier Barnier meets Marie Le Pen of National Rally. National Rally says it will veto any policies that reduce the purchasing power of the French people. Barnier lays out austerity policies and cuts in spending. National Rally had 8 seats, after this year's election it has 125 seats in the National Assembly. The Socialist bloc is the largest party but lacks amajority to form a government. Les Republicains party, Macron's party with National Rally's support are running the administration till another election is called to clear up the situation of no party having a majority. Macron remains president till May 2027 to oversee the situation.

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NYT shows the "potrero" circuit in Buenos aires where young soccer players get their raw beginnings.

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Molise in the Abruzzo region off Italy, really off the beaten track, when Italy is so wrapped up in tourism with 48 million tourists,

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Both sides harden positions before the June 30th deadline for 1.5 billion euro repayment of debt to the IMF. Greece's prime minister Tsipras accuses the IMF of "criminal responsibility" for the pain of austerity programs in Greece. Eurozone leaders says Greece's default on its debt and exit from the eurozone is a possibility. The Economist points out that a Greek default and Greece's exit from the eurozone would be a mistake. It points out that this means repudiating debts of 317 billion euros, or about 180% of GDP. Yet the repayment is at low interest rates spread out over decades. Until the early 2020's interest rates are about 3% of GDP a year. In theory a devaluation would help exports, but Greece with its small trading position, may not see much benefit. The drop in nominal wages by 16% has not led to a surge in exports. The cost in terms of broken banks, sharp decline in savings, and collapse of confidence could be disastrous. The very people Syriza is trying to protect the poor and elderly, would be hit hardest, as the collapse in the currency would lead to a shift to a barter economy as in Argentina during its default crisis. For the European Union, the problem would not go away, as it would have to deal with a bigger problem of a failed state on the Aegean on the EU's southern flank. Syriza's gamble that this can be used to extract concessions by holding off till the last minute is failing, because it is leading Greece back to contraction after the small growth in 2014 under prime minister Samaras- with capital flight from the banks and investors leaving in a general fall in confidence. The management of the economy and negotiations by Syriza is now seen as incompetent and has jeopardized any difficult progress made....

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Three NBC reporters talk to people in areas in southern France, including Cogolin, which voted in a National Front mayor. This report describes the contrast between the National Front under Jean Le Pen and his daughter, Marie Le Pen. Marie took over the party leadership in 2011, and has downplayed her father's more racist ideology, even calling her self Marine dropping her last name. About 22% of French women are expected to vote for Marine, according to Elabe polling agency. In previous elections only 12% of French women had supported Marine's father because of overt racism. Yet recent remarks by Marine about Vichy regime shootings have revived some of the old memories of the National Front among some women. High unemployment and sense of neglect has led to a search for alternatives, and the terrorist incidents in Nice and Paris have added to the momentum for the National Front that calls for tougher measures. The Republican Party candidate Fillon, now has the support of Alain Juppe of Bordeaux, and former president Sarkozy. Fillon is also advocating tougher measures, and it is not clear how many votes would shift from Fillon on the right to Le Pen.  ...

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Young people form different parts of UK give their views in The Guardian. Contrarian youth form 9% of the Reform UK base in recent analysis shown here. It is not the key to Reform winning as most of the voters are disillusioned with Conservatives and Labour parties, some may not vote others may split vote between many parties. 

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Example of a aluminium company in Quingtongxia which disconnected from the national electricity grid and connected to the local electricity grid with the consent of the regional government to bypass the increase in electricity prices mandated by the central government in Beijing designed to discoutrage electricity consumption by energy intensive industries. As a result of this type of activity China has seen only a 2 % decrease in electricity consumption in the first half of 2007 by official estimates. To meet the goal of a 20% reduction in energy consumption per unit of output by 2010 China would have to see reductions in the range of 4% per year. This example of Ningxia Hui Autonomous Region is an interesting one. Ningxia is in the western region of China and unlike the coastal regions which were the early beneficiaries of China's manufacturing boom years, this part of the country lagged behind. Its near Inner mongolia and far to the north west of the country near Gansu province. its one of the samllest o the provinces and autonomous regions, having a population in 1949 of about only 1 million, its since grown with migration and indutrial development but is still lagging behind. It has plentiful coal and so it is felt here that this is a natural resource asset that would help it grow in energy intensive industries like aluminium and help it close the gap with the coastal proivinces. The industrial development came to Ningxia only in the last 10 years so that its local economy and regional government officials feel they would be left out if they aren't allowed to catch up. So to them it all makes sense. Several other factors play a part. The rapid economic growth means more opportunities for relatives and friends of regional government officials. This is happening across China in coastal provinces and in the provinces of the interior. How can senior government officials in the coastal and large cities in the east point a finger at hese offendors when they are all beneficiaries of the same system and are using it to their benefit. And then there is the factor that rapid economic growth is considered the main objective if it slows down and there is social unrest from unemployment or other worker or farmer unrest then all government officials and communist party officials lose out if the communist party loses control. And the fear of chaotic years following social unrest create a common interest in pursuing rapid economic growth at all costs. So its a roller coaster that while the leaders in Beijing and Shanghai and the big eastern cities are aware of the risks and costs to the environment and other costs they are not able to control regional and local policies and actions....

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A $12 million euro loan taken out in 2014 by Marie Le Pen's party from a Russian bank that was transferred to a Russian military aircraft parts maker is the subject of much debate in the French presidential election. It was brought up by Mr. Macron in the recent televised debate with Le Pen.

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The German approach to soccer with fans running the sport is seen with envy in Britain, Italy and Spain, now that the Super League plan to split off the richer well known teams into a Super League has failed miserably. It did not last 48 hours before the organizers, a Liverpool billionaire and others apologized. Fans were angry that the clubs built into their local communities in London, Manchester and other British cities were being taken away from them. Noteworthy is that German teams and French teams at the top of world soccer never joined in the Super League plan. In fact Borussia Dortmund made a vigorous protest. Bayern Munich stayed out, so did Paris St Germain. Klopp and Guardiola were the first to protest. In this report Uli Hesse of The Guardian tells us why German clubs are rooted in their communities. German clubs started as amateur clubs run by volunteers and remained that way till some professionalism was brought in by 1963. The communities and fans are very much a part of German clubs, which are not seen as part of the larger entertainment industry as in the US and Britain. The clubs are still run as part of the communities and fans in the local area. There are some Austrian entrepreneurs, but owned by locals and fans, and nothing like what is happening in the British or American approach to soccer. Most of the clubs were set up in Germany to support multiple sports in their communities. So that track and field was part of Dortmund, and chess was part of Bayern Munich Club sports. After the disaster with the fans British prime minister Boris Johnson has called for a review, and this includes bringing back the original spirit of the sport as community based and owned by fans or the local community, not business interests and billionaires from outside. ...

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Abiy Ahmed, Ethiopia's leader for less than 2 years, is a courageous choice for the Nobel Peace Prize in 2019, says the Guardian. He has accomplished much in a short time with the peace arrangements with Eritrea, ending a 20 year old war, and opening up dialogue and discussion in the country by lifting bans on opposition groups. Half of the cabinet is female, and the head of the election commission an exiled dissident.  Yet the Guardian is cautiously optimistic because the change is sudden and dramatic, it needs to be consolidated for the long term. The Ethiopian People's Revolutionary Democratic Front appointed him as leader to make these changes. What the Nobel Prize COmmittee has done is to recognize the hope that this brings to Africa, torn as it has been by recurring wars and ethnic conflicts for  way too long after the scars of colonialism. Can the positive changes in Asia provide new inspiration to Africa that this can be overcome and modernization, improvement in the lives of people happen as everyone each on his own account takes personal responsibility.   ...

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The regulatory mood in Washington and airline lapses leading to special maintenance inspections for all airlines by the FAA.

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FDA and the cholesterol drug Cordaptive which the FDA rejected

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This is an interview with Columbia University economic historian Adam Tooze about the international trade and economic issues brought about by globalization. The rapid emergence of China in manufacturing and overcapacity in steel has led to action on steel tariffs by president Trump. Tooze is typical of opinion that sees action by Trump not as limited action to level the playing field  as proposed by Trade Representative for the U.S., Robert Lighthizer, but as reckless move on trade.  Lyrarc.com shows articles from the WSJ and NYT showing how opinion got to this point in the U.S., on Robert Lighthizer's views that the U.S. was not facing a level playing field, and  on how trade has hurt communities across the U.S. a long distance away from Silicon Valley. President Trump's views reflect a different perspective that says the U.S. has to balance the favorable situation obtained by China and the European Union through moves of its own to protect U.S. interests. Political commentary that the U.S. was starting a trade war is not supported by the facts showing China's response as muted and a willingness by China to negotiate a balanced trading relationship as its trade surplus with the U.S. continues to grow. The trade surplus is so large that the Trump moves do not tell the real story. They are likely to be overshadowed by the increasing value of the U.S. dollar leading to a continued favorable situation for Chinese exports and a larger trade surplus in 2018, regardless of Mr. Trump's action.  Trump's moves are more significant in other areas- limiting China's access to advanced technologies, with the European Union also taking the same action. This is now the new field of competition for the major world economies. ...

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U.S. imports exceeded exports by a record $914 billion in 2018, increasing from $859 billion in 2017, according to the Commerce Department. The trade deficit is now 16% larger than when Mr. Trump took office. President Trump's tax policies with large fiscal deficits acted as a large stimulus to imports. Companies imported more. 

The dollar strengthened as the U.S. fiscal stimulus came at a time when the rest of the world economy was slowing. As a result the U.S. imported more. 

The tariffs on $300 billion of Chinese goods had one benefit - it brought the Chinese to the negotiating table to cut imports. Yet the trade deficit has not narrowed as the president planned.