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Two politicians, Nakaima and Iha, are in a tight election bid for Governor of Okinawa, Japan. Both are campaigning against the location of the US Futenma military base on the island of Okinawa. About 84% of Okinawans are against the continuation of the base in Okinawa.

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Kim Kyung-jae, aide to former president Kim Dae Jung, and reconciliation with the daughter of military backed president Park Chung Hee who ruled in the 1970's and suppressed dissent. Presidential candidate, Ms. Park Geun-hye, is reaching out to dissenters who suffered during her father's military regime. Much of the industrialized part of S. Korea is in the southeastern provinces, and Ms. Park's father pushed development in this region. There is a development gap with the southwestern provinces where much of the dissent to the military regime took place. The gap is still being healed many years later. Ms. Park's conservative party hopes to get 20% of the vote from the southwestern provinces with her efforts at reconciliation, up from the current conservative party president Lee Myung-bak who won 9% of the vote there. Moon Jae-in, the liberal candidate for president, is from the city of Busan in the southeastern provinces and hopes to increase his vote in the southeast to 40%.

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Zardari is described as "very, very weak" by the administration, and his popularity is only in the double digits compared to 83% says the NYT. From the standpoint of democratically elected government it is important to note that Zardari himself was never directly elected, and is highly unpopular and weak, and known for corruption. If anew election was held today its highly unlikely that he would be elected. Even Benazir Bhutto's popularity may be aresult of years of military rule, and the efforts by General Musharraf to suppress freedoms and prolong his rule. Her party came to power in addition from a sympathy vote after the Musharraf government did little to provide the securtiy that could have prevented her from being shot at an election rally. With the lack of good alternatives -not the military which has provoked wars with India, not the Bhutto parties which have lasted for only short periods marked by corruption, and its not clear if the Sharif governments have done much better- its hard to say how the people of Pakistan can register their voice for responsibile democratic government which works diligently to bring services in healthcare, education, and build infrastructure, for Pakistan to keep up with the region's development....

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A detailed account of how the American airstrikes in Farah province look from the ground. CIvilians who may not have much to do with the Taliban get caught in these strikes, and burned bodies of women, girls, children are to be found along with destroyed homes. It only creates new volunteers among the young for the Taliban and legitimizes anti-American feelings after bombings of this kind. Its also exactly as the Taliban intended it, as they hid among the civilians with this in mind. US soldiers outnumbered in difficult terrain and vast spaces call in airstrikes after ambushes and difficult fights. The US has to do some serious problem solving on this one, or risk losing the support of ordinary Afghans , and with it the war. These are some of the tough choices in this war, with what kind of air support to fight this war. One that is pinpoint and based on accurate intelligence and in skirmishes in the open, but avoiding the kind that gets close to civilian areas. And finding other ways to tackle the problems. Having popular support is critical, and providing security is critical, which calls for more feet on the ground, more aid workers on the ground, and more to show for these efforts in reduced casualties and better lives of the people in each area. ...

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Facin competition from RIM's Blackberry, Apple's IPhone, Smamsung and LG, Nokia has seen its market share in the USA take asteep dive from 35% in 2002 March to 10% in 2008, and 7% in June 2009. Nokia say experts made adecade of mistakes. It failed to design new phones , failed to anticipate consumer tastes in America, like flip phones and touch screens, and failed to accomodate the CDMA format using instead the European GSM standard.

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Glaxo spent $279 million in the first half of 2008, second only to Pfizer's 462 million. Much of this is televison advertising, which has come under criticism for exaggerating the benefits of drugs and minimizing the risks. Television advertising for prescription drugs is banned in most countries, except for the USA and New Zealand. Now Glaxo CEO, Witty says, Glaxo will do less television advertising than in the past.

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Citigroup remains extraordinarily leveraged, with tangible leverage at 47 times tangible common equity. JP Morgan's is 26 times and Goldman's is 21 times. The government's two preferred shares capital injections of $45 billion does not reinforce the common stock, which fell 20% on the 14 January, 2009, and the discarding of the universal bank structure this week does not adequately address the root problem of problem mortgage related assets and excessive leverage. The government's agreeing to to take a large share of losses on $306 billion of problem assets helps, but with the leverage being so high significant problems remain. So what are the options. Reducing leverage to where J.P. Morgan Chase is would take $35 billion in common equity, something that would make the government the owner of Citibank, as Citibank's market capitalization on January 14, 2009 was $25 billion. The risk of doing this would be that other large bank stocks also fall steeply as the market prices in a similiar outcome. And there are political considerations as giving capital to banks is not popular with so little bank lending to show constituents. The capital needs of Bank of America as it completes the acquisition of Merrill further complicates the picture. But stopgap moves like additional loss sharing agreements will leave Citbank's problems still unresolved. ...

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Efforts to get back on track where TARP started in the first place, with the goal now to rid banks of troubled assets by putting them in aseparate institution.

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The pound is weakening now with the dollar at $1.36 British pounds. The dollar may see a similiar situation later this year, according to analysts because of the Fed's increasingly larger moves to add liquidity.

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To be frank says the Chinese premier Wen Biao we face severe challenges in China. Unemployment is rising in urban areas, export industries are affected as external demand slumps. He called the US model of development based on low savings and high consumption unsustainable.

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The bonus issue at RBS bank in the UK, where performance has been abysmal but 1 billion British pounds in bonuses were planned. The public outcry. RBS has been the biggest disaster in British banking or one of the biggest. It has angered Prime Minister Brown for the Government to come up with $20 billion pound injection of capital into RBS recently, yet the current management saw it fit to consider this sizable bonus. Somewhere in all this there is a disconnect between what makes sense and what does not make any sense.

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Holbrooke, special envoy to South Asia, meets with leaders and civilians in Pakistan.

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2007 saw arecord number of births, of 4,317,000 . The average woman has 2.1 births and there are alarger number of childbearing women of all ages. In a sign of what society is looking like and changing mores in different racial groups, there were a record number of births to unmarried women. 40% of all births were by unmarried women in 2007. 28% of white babies were born to unmarried women, 51% of Hispanic babies, and 72% of black babies, and the rate is accelerating for white babies and Hispanic babies.

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VW's sales goals for the US market to increase sales from 330,000 by taking sales away from Asian brands.

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The expansion plans of VW will add more competition into the US market which is declining. Martin Winterkorn ran VW's Audi business. He became VW's new CEO this year and brings a new leadership perspective to his job. He has several new strategies. In the area of pricing he wants to reduce unneeded features such as external mirrors that fold inward for narrow European streets, and bring down the price of VW Jetta and Passat models to be competitive with Toyota's Corolla and Camry models. Currently a Jetta is $17,000, a Corolla is $ 15,200 and a Passat is $23900 compared to a Camry at $20,000. VW's plans are to set a sales target of 1 million cars by 2018, tripling sales in ten years from the current 330,000 vehicles. In the next 3 years to 2010 sales world wide are expected to increase by 12 to 15%, VW wants to capture a bigger share by seeing its sales increase by 30% from the six million units today to 8 million units by 2010. Winterkorn sees this as possible given that VW has a more centralized management structure now which makes for quicker decisions. VW is also working on a new family of small fuel efficient cars on a common platform to be sold in China, India and other markets where a small car will be popular. Winterkorn referred to its new concept car as an example of the direction this would take. As importing cars from Europe is becoming costlier with the strong euro and the Japanese in contrast have the advantage of a weaker yen, the expansion plans will require lower pricing. VW looks to build a plant in the USA. Another strategy is to add 12 new models to its global product line and to launch more new vehicles in new product segments. This is what Winterkorn thinks has given Toyota its increased sales. A new compact SUV caled the Tiguan will be introduced. What all this means is that VW is seeking to move buyers of Japanese and American cars to try German cars, make German cars cost less and make a strong showing in the American and global markets. ...

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Qatar plans to invest $15 billion in coming months in USA financial companies. You could call it recycling of the capital that goes to middle eastern countries to pay for increasingly pricey oil. And with this these countries will have greater stakes in the US economy.

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By one measure the IMF projects the USA economy will shrink by 0.7% this year and see 1.6% growth in 2009.