LyrArc Article Gist
A study by Blanchard and Bernanke shows energy prices and supply chain constraints were key factors in creating the surge in inflation that happened in 2022. The Ukraine war played apart in raising energy prices . How much effect did president Biden's $1.6 trillion American Rescue Plan have on inflation? Bernanke and Blanchard say not what critics had suggested. Once energy prices were brought under control through the president's policies to $75 energy prices played less of a role in inflation. Supply chain effects also eased throughout 2022. The persistent effect remained the mismatch between supply and demand that is called The Great Resignation that came as a response from teachers, nurses, hospitality sector workers with low minimum wage on which it was hard to make a living. President Biden's payments to these workers gave them enough room to make a definite choice that they would not take the risks during the pandemic and the stress and opted for shifting to other jobs. Employers struggled to fill vacancies and raised wages in response. To reduce inflation the Fed opted to raise rates to slow the demand for goods and services in the economy which has led to a moderating of inflation from the high of 7% in 2022 to falling below 5% by April 2023. Fed chairman Powell's aggressive attitude to inflation was based on not letting an inflationary psychology set in, that could damage the interests of workers and families who had already suffered from the pandemic's effects. This is where we are today as the economy adjusts to the fight against climate change, investments in renewable energy and infrastructure, and efforts to reduce the deficit by president Biden in a way that reduces the widening gaps and social divisions in society.   ...

LyrArc Article Gist
The reference Bazooka man comes from Scholz's hard work putting together the 750 billion euro funding package to help German businesses and workers survive the coronavirus pandemic. At the time Scholz said-"This is the bazooka that's needed to get the job done. We are putting all our weapons on the table to show that we are strong enough to overcome any economic challenge that this problem might pose." Scholz gets high marks for his hard work during the Covid crisis as finance minister putting together the funding packages. This BBC report says Scholz chaired cabinet meetings when Merkl went into self-isolation as a precaution. BBC says it gave Scholz the platform he needed to go back to his roots as Mayor of Hamburg when he stood up for social cohesion and help for workers and families. Before he announced his SPD candidacy when asked if he would run he would say - "we need to work, not indulge in vanities." Scholz also played an important role in European solidarity. He was the lead architect with France of the European Union 750 billion euro recovery fund. This brings him strong praise from France, and also support from Italy, Spain, Portugal and other countries in the EU. French foreign minister Bruno Lemaire has praise not only for Olaf Scholz but also for his brother Jens Scholz, who airlifted 6 critically ill French patients to an hospital in Kiel. Says Lemaire "It really is a great German family." Scholz grew up in Hamburg, becoming a Socialist youth leader and studying labor law. He was Mayor of Hamburg from 2011 to 2018. In 1998 he entered the German parliament, the Bundestag.   ...

LyrArc Article Gist
The issues were the same on Oct 31, 1936 when FDR gave this address at Madison Square Garden, similar to what president Biden faces today in the task "to win in this crusade to restore America to its own people."  FDR said: "On the eve of a national election, it is well for us to stop for a moment and analyze calmly and without prejudice the effect on our Nation of a victory by either of the major political parties.The problem of the electorate is far deeper, far more vital than the continuance in the Presidency of any individual. For the greater issue goes beyond units of humanity—it goes to humanity itself. In 1932 the issue was the restoration of American democracy; and the American people were in a mood to win. They did win. In 1936 the issue is the preservation of their victory. Again they are in a mood to win. Again they will win. More than four years ago in accepting the Democratic nomination in Chicago, I said: "Give me your help not to win votes alone, but to win in this crusade to restore America to its own people." The banners of that crusade still fly in the van of a Nation that is on the march. It is needless to repeat the details of the program which this Administration has been hammering out on the anvils of experience. No amount of misrepresentation or statistical contortion can conceal or blur or smear that record. Neither the attacks of unscrupulous enemies nor the exaggerations of over-zealous friends will serve to mislead the American people." ...

LyrArc Article Gist
Biden gave a passionate and vigorous speech at the Democratic Convention in Chicago, Aug 19, 2024 comparable to what he did in the State of the Union message to the US Congress and people in January 2023 and January 2024. Gone was any semblance of the bad day at the debate that came after covid symptoms. The first night at the Democrat Convention brought before Biden's speech speakers Hillary Clinton, Governor Beshear of Kentucky, touching personal accounts of trauma of women who were denied abortion in rape and incest and mother's health conditions, Steve Kerr, US Coach men's basketball team at the US Olympics, and three members of Congress. Steve Kerr said it was the duty of Americans to protect American democracy and the respect for the dignity of people, workers and families, that is part of the values of the American people for two hundred years, values Biden exemplified and Kamala is shaped by. Ashley Clinton reminded people of her father's love for the country and family- telling the country how her father took the train from Washington D.C. to Wilmington Delaware just to see Ashley, Jill and the family for her birthday when she was just seven years, stayed for a few minutes at the station and after blowing the candles headed right back to D.C. Dignity, decency, values, personal sacrifice, courage, these are the values that Coach Steve Kerr said America expected from its leaders. Thes are the values of Joe Biden of Delaware as he went through 50 years int he US Senate, 8 years as Vice President and his term as president. And above all Biden used this experience to pass legislation  for the Renewal of America that makes him many speakers say the most consequential president since FDR. ...

LyrArc Article Gist
Voter turnout of 83.5% in federal elections in Germany in Feb 2025 is the highest since reunification in 1990.  The Free Democrats and the Wagenknecht BSW  fail to meet the threshold of 5% for representation in parliament. The CDU manage 28.5% of the vote less than the forecast 30%, and the AfD is at 20.7%. Scholz Social Democrats drop 9% points from 25% in 2021 to 16.5% and the Greens are at 11.7% of the vote. The Left Parties get 8.7%. German broadcaster ARD cites exit polls showing 82% of voters were dissatisfied with the government coalition, 72% of voters dissatisfied with chancellor Scholz, yet the Greens  voters gave it 45% approval.  In terms of seats in the 630 seat Bundestag  Christian Democrats  208 seats Social Democrats.      121  The Greens                  85  Left Party                       64 AfD                               151        The likely outcome is resignation of chancellor Scholz and new leader for Social Democrats. A CDU SPD coalition Merz as chancellor, with Greens/ Left parties and AfD in the Opposition with equal number of seats.                                                                                                        ...

LyrArc Article Gist
The Romney campaign is trying to keep Obama's support among Hispanics and Latinos to 65-70%. Latino leaders say Romney's positions on immigration during the primaries, when he chose to go to the right of Governor Perry, have affected their perceptions and his more recent centrist positions are being discounted. Republicans are awakening to their weak position in the fastest growing demographic in the U.S. Positions on abortion, gay marraige and religion are affecting a portion of the Latino vote. One question is how enthusiastic is the voter turnout, especially because president Obama failed to take up immigration reform in his first term and gave it a lower priority.

LyrArc Article Gist
Zweig cautions against putting too much faith in experts, or quant models such as "value at risk" or VAR, used by JP Morgan to assess risk. He cites physicist Richard Feynmann: "You must not fool yourself- and you are the easiest person to fool." And the address Feynmann gave at the 1974 commencement of Caltech, in which he said avoid the "cargo cult" mentality of Pacific Islanders who believed that just by standing on runways they could make plane full of food and clothing land, similiar to the ways they did after World War II. Exaggerated returns of over 50% call for more vigilance to look at risks of failure.

LyrArc Article Gist
Francois Bayrou the new PM of France speaks a dialect of the Pyrenees mountains, is mayor of Pau, and was a school teacher before entering politics. He has a disdain for extreme positions on both sides left and right, including polarizing politics of Sarkozy. He gave key support to Macron at the right time when he needed it to run for president. He gets along well with Le Pen and has helped Marie Le Pen run for president in the past when she needed support because he felt this was essential for the democratic process. He was not the first choice of Macron and insisted on taking the job over other choices.

Pau is located 31 miles from the Spanish border with a clear view of the Pyrenees mountains. It is an ancient city with a University at Bearns, and a medieval heritage.

LyrArc Article Gist
This article in the Economist magazine says the initial criteria for the euro currency were fudged to let southern European countries with weak finances into the euro region. The result was that Italy, Spain and Portugal were allowed in, followed later by Greece. This was a critical design defect for the euro currency. It says French president Mitterand accepted German unification and German president Kohl gave up the Deutsche Mark in exchange for the Euro, under the 1992 Maastricht Treaty that set up the euro currency. The other flaw was the lack of a bail out mechanism if governments needed help, the ECB not designed to tackle this, and the central banks of each country not capable of tackling this on their own. With the lack of devaluation option to address inflation, and drop in competitiveness of some countries, the mechanisms to address economic problems were not put in place- it says because political union was seen as happening earlier but never happened. The French are seen as more interested in pursuing closer economic integration, with Germany not as keen until budget discipline is established first. Germany also looks at immigration as a critical area in which agreement has to be reached. As a result the euro currency is likely to continue with some of its current problems, yet with improvements in many areas such as budget discipline and lessons learned from the eurozone crisis in Greece, Ireland, Spain and Portugal.   ...

LyrArc Article Gist
Already Japan, Vietnam and Taiwan are negotiating. India will join South Korea. Britain will follow. Only Canada and China are holding back because of the imbalance in trade heavily in their favor and a failure to see that it is about fairness. In the EU only Germany has a surplus many nations have a deficit, it seeks to start negotiating at the first opportunity. Contrary to what most of the American and British media says Lighhizer and Jamieson have thought this thing through for many years before arriving at the Tariffs advice they gave the US president as his 2 USTR. It is these two not the president acting on his own whim as the media like to show. And Lighthizer has done this before- as Deputy USTR in the 1980 with Japan on the opposite side and come out of it with winning solutions for the US and for the world.

LyrArc Article Gist
An exhibition at the Museum of the City of New York in January 2012 which offers clues for future development of the city - "The Greatest Grid: The Master Plan of Manhattan 1811-2011." It shows how Simeon De Wittt, Governor Morris and John Rutherford laid out the plan for the city of New York in 1811. Because of the growth at the port New York City's population had grown quickly to 96,373. By 1870 the population had grown eight fold to 800,000. The grid plan used by the planners gave a sense of order to the city and it stretched north to 155th street. Upto that time most of New York was below Canal Street.

LyrArc Article Gist
Arthur Brooks, president of the American Enterprise Institute, gives an eloquent tribute to James Q. Wilson, by saying that he gave America social science with a soul. Brooks says of Wilson's book "The Moral Sense," that it truly ranks with Adam Smith's book 'Theory of Moral Sentiments,' as the most significant thinking on this subject. It synthesizes the work of hundreds of scholars in many fields to conclude that man is in his essence a moral creature. In all of creation and man's world there is this profound sense of man grounded in his moral being. It inspired most of his own work as it did for Adam Smith in his time.

LyrArc Article Gist
Former U.S. president Bush says the U.S. has an important role as a beacon of freedom, human rights and democracy in the world. The U.S. should not shrink from the challenges in the name of a false and temporary stability, and flexibility should not mean ambiguity, difficulties should not mean shrugging away from America's role. Patience, creativity and active American leadership are needed. The Bush administration supported the struggles of people in central Europe and in other countries. This is from a speech Bush gave at the Bush Institute, Southern Methodist University in Dallas, a year into the Arab Spring. A speech that was giving voice to the aspirations of people in the Arab world.

LyrArc Article Gist
The closing of Project Thunderdome, a project to provide national and foreign articles to 75 newsrooms of Digital First Media Holdings newspapers. The decision was made by private equity firm Alden Global Capital. Digital first newspapers include Detroit News, Denver Post and Salt Lake Tribune. The idea was to consolidate the newsroom. Alden Global Capital gave as the reason cutting costs, and local being where the revenue was generated. In the journalism industry such efforts are being increasingly viewed with skepticism as hedge fund or private equity are focussed on the short term, make abrupt decisions, and are not willing to invest over longer periods the way Amazon founder Bezos is able to do at The Washington Post.

LyrArc Article Gist
Steven Thrasher says in this oped article that his father who was black and his mother who was white, could not be married in Nebraska, where interracial marraige was illegal. They went in 1958 to Iowa where interracial marraige was legal, amarraige that lasted 45 years. In Nebraska his mother was arrested on his parent's first date forprostitution (the conventional view being then that why else would a white woman be seen with a black man?) This says a lot about Iowa, where Mr. Obama got his first chance in the primaries to be heard and to to win, awin that gave the impetus to wins that led to the Presidency of the USA.

LyrArc Article Gist
A hisory of Dow Jones and the Wall Street Journal. Early struggles, success under Barron, the the depression and then post war success under Kilgore. Then again faltering as print gave way to television and the internet, and competitors such as CNBC of GE and Bloomberg News. Early success with the particular kind of journalism, information and statistics including the DJ average, branding, credibility and accuracy, situation stories under Kilgore, and the appeal to a wider audience that is interested in the business news. The inability to leverage the WSJ brand and inability to build WSJ's international papers, a general lack of funding and of direction, and failures in television branding are part of recent history.

LyrArc Article Gist
John Lewis, is the last surviving speaker of the March on Washington in 1963, when Martin Luther King gave his historic speech. Here he describes how Martin Luther King would see today's America. Foremost he points out is that MLK would want to see justice not just as racial justice, but justice in a broader sense that says something about the dignity and value of human beings. And this means, says Lewis, the president getting away from advisers and polls, and talking to ordinary people. It means focussing on jobs, the unemployed and people facing foreclosure, and seniors struggling on limited incomes. He calls for a "freedom budget" that would pool resources for infrastructure and investments that would create a better environment for people to live in.

LyrArc Article Gist
In a Washington Post-ABC News poll conducted June 2-5, Republican presidential candidate Romney receives more support than President Obama. Among all Americans Romney and Obama receive 47% each, among registered voters Romney leads 49% to 46%. Independent voters gave Romney 50% to 43% for Obama. The poll shows Obama is being viewed with increasing skepticism because of the economy. By 2 to 1, Americans say the U.S. economy is on the wrong track, and 9 in 10 see the economy as doing poorly. The poll also show a significant shift to Republicans being seen favorably for running the economy, 45% now see Republicans as being better able to tackle the economy, a 11 point increase from a March poll.

LyrArc Article Gist
This editorial in WSJ says the WHO report on the most likely source of the pathogen for the coronavirus lacks credibility. It says the statement by former CDC head Mr. Redfield is more credible when he said last week, that the "I still think the most likely etiology of the pathogen in Wuhan was from a laboratory." Redfield added that virus transfer to a lab worker is not unusual in such research. Even WHO says it needs more research into the source. This editorial says the Biden administration knows the underlying intelligence and should release it to the public, that it should not accept a whitewash of the whole thing, leaving it as an unknowable. The need to take preventive steps in the future would help the world's population including China and India, the most populous nations in the world with most of the world's population, as well as the  countries in Latin America, North America, Africa, and Europe. Because the brunt of the coronavirus impact was borne by the people of the world preventive action is needed to restore hope for the future. One of the lessons of the crisis is that public and governmental involvement from many countries particularly the leading democracies is essential to restore hope, health cannot be delegated to any organization alone much less the WHO, ...

LyrArc Article Gist
This group of 26 leading scientists from Australia, France, Britain and the US are calling for a new international full, open and unrestricted forensic investigation into the origins of the coronavirus in its original location of Wuhan. This happens as scientists on the WHO investigation team in Wuhan say they did not have unrestricted access to conduct their investigation. The Biden administration has restored ties to the World Health Organization after the Trump administration cut ties on this issue of transparency. The Biden administration says transparency is an essential condition for the US as it seeks to continue US participation in WHO. The US, India, France, Britain and other European nations have a long history of participation in WHO and were original founders. Recent flawed election processes at WHO and the lack of effective leadership from western foundations have led to the lack of effective leadership of WHO that prevailed in post war world for the first five decades of the organization. Much of that leadership was from western nations, India and Japan, during a period in which the pandemics were managed limiting their spread from the areas of origin. ...

LyrArc Article Gist
The US is working with its allies to find out the true origins of the coronavirus, bringing together intelligence, the scientific community, allies and putting in every effort as a priority. Being checked is whether the coronavirus originated in a lab in Wuhan, China. 

LyrArc Article Gist
After reading this editorial in the WSJ about the origins of the coronavirus, readers will have more questions about EcoHealth Alliance nonprofit which sent $3.4 million to the Wuhan Institute of Virology (WIV) for  research with potential for risky consequences to world public health if something went wrong.  What is gain of function research and what purpose is served in making virus more infectious and contagious such that the National Institutes of Health would send funding overseas for such research are questions that readers may have. Were all the risks considered for such research overseas. The editorial says the US Congress is not showing interest in the origins and the US president Biden has to take up this- some readers might have a question what would make the US Congress not interested in this when coronavirus has affected the US, India, Brazil, Europe, and the poorest countries on earth in unimaginable ways. Can such important matters as world public health fall under the authority of one person, such as Dr. Fauci and other health officials from one country or two countries, when other countries such as India, Brazil, UK, France, Italy, Germany, EU countries, are gravely affected. Global public health has suffered badly and billions of people around the world, in the poorest countries as well as the people in US and Europe have suffered unimaginably in 2020 and 2021 as a consequence of poor decisions. Much needs to be done to get the people themselves informed about public health and how it can be shaped in the future. ...

LyrArc Article Gist
The Kristian Anderson memo to Dr. Fauci is the No. 1 story in the WSJ on June 5. This memo written on Jan 31, 2020 shows the initial reaction of the leader of five virologists to the coronavirus genome. Nicholas Wade writing in WSJ cites this memo as having missed the censors marker as the emails to Fauci were released under the Freedom of Information Act. The initial reaction is cited in the Anderson memo to Dr Fauci as seeing "unusual features" in the virus. These were in a small percentage of the genome, "so that one has to look really closely at all the sequences to see that some of the features (potentially) look engineered." Mr. Anderson goes on to note that he and his team of virologists 'all find the genome inconsistent with expectations from evolutionary theory." What does Anderson mean by this important phrase? Anything inconsistent with evolutionary origin has to be man-made is the conclusion drawn by many virologists including David Baltimore, cited here in the WSJ. Virologist later modified their stand saying it was evolutionary because of professional interest in not starting a what WSJ calls "storm of condemnation" over gain of function research, a exotic name for genetically enhancing the pathogenic power of viruses or increasing its transmissibility effect. Nicholas Wade is a Science writer who has worked for Nature, Science and The New York Times. ...

LyrArc Article Gist
The Biden administration's har ghar jal effort, clean drinking water in every home. The Modi administration has made its mark by har ghar jal, drinking water from taps for every home in a country of 1.3 billion people. The US Biden administration will be ensuring the same for clean drinking water free of harmful disease causing chemicals including PFAS contamination. PFAS chemicals are forever chemicals that take a long period to break down. Even lower levels of toxic chemicals can be seriously harmful, says the Biden administration.The head of the Environmental Protection Agency leads this effort by putting 1 billion dollars from last years approved spending into the plan for clean drinking water. 2021 approved spending for Workers and Families plan of Biden has $10 billion for preventing PFAS contamination. Of this the first $1 billion will be made available to affected and most hard hit communities for clean drinking water. Money would go to water quality testing, contractor training and new water treatment systems. In addition Food and Drug Administration agency will tackle testing for food and packaging, Agriculture Department for livestock contamination. Defense Department for checking contamination in military installations. It is a sort of Gati Shakti Master plan that brings in all agencies of government, an approach the Modi administration has adopted for India. One does not have to look far to understand the priorities of the world's two greatest democracies. This is the common struggle in the world's two great democracies to bring a better life for all the people.  "People on the frontline have suffered far too long. That is why Biden is taking aggressive action," says Biden/s man at the EPA Michael Regan.  Mr.Modi says the same thing for har ghar jal campaign for drinking water for 1.3 billion people. ...