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Daniel Henninger says in the WSJ that the debt ceiling will be raised, and Republicans should not be pitting program against program. He says the narrative though should be framed around the trillions being spent by the Biden administration on climate change action, US manufacturing and technology in chips, with interest on debt at over $400 billion a year. Yet this does not take into account that for two decades there has been an overcrowding of US government initiated capital investment for essential needs by massive Tech industry misallocation of funds even as productivity of this capital invested by tech was dropping, with much wasted capital. Today because these essential needs in infrastructure and for manufacturing and technology were starved for so long of capital the productivity of capital in these areas is high and will have ripple effects to help rebuild America.

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Spain's new monarch, Felipe, brings a background of being carefully trained for the new position say most people in Spain from experts to taxi drivers, and brings educational training to understand the complex economic and constitutional issues facing modern Spain. He studied law at the Autonomous University of Madrid, and did his graduate education at Georgetown University in international relations. One columnist and constitutional scholar, Carreras Serra, says the prince has helped bring focus in meetings with government officials, and can skillfully conduct discussions on difficult topics of economics or constitutional law. His abilities are sorely needed as Spain navigates through a period of economic hardship with high unemployment, especially among the young. Relating to young people will be key test for Felipe and the monarchy. He starts off with considerable goodwill as 61% of Spaniards polled have a favorable opinion of him. Two leftist parties in Spain which view the monarchy as unnecessary for Spain won 18% of the vote in European parliamentary elections in May 2014, with the two main parties of post war Spain, the Partido Popular and the Socialist party, polling below 50% (a similiar situation in UK and France), provided a signal for Juan Carlos's abdication at 76. Spain's modernization was made possible by putting behind divisions from the traumatic twentieth century conflicts, and continued economic progress will require the same degree of skill and renewed committment from all parts of the political spectrum in Spain. Because of liberal tendencies existing in a conservative culture and history, Spain's best years and progress depend on keeping the social and political fabric together without divisions, and the monarchy earning and reearning its trust -side by side with the main political parties and young people seeking a better future- to keep it this way through coming generations....

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Joanna Stern of the WSJ uses the original iPhone that came out in 2007 for one day in June 2017 and sees how it felt to use the introductory version. The original one worked on a 2G cellular network. It took about a minute for the president's Twitter feed to fully load in the old phone's Safari browser, it now takes 5 seconds. A lot has changed with the smartphone revolution in ten years. Lunch spot search results, Stern points out, might take longer than the time to eat lunch in the Maps App with that old phone. No emojis, predictive text, no Siri, and no third party apps, no Apple Music or Spotify, all that came later. The 2 megapixel camera took decent shots but not without good light. What is useful in Joanna Stern's little experiment is that it makes one reflect on how quickly people forget, how so much is now taken for granted as smartphones change the way people live their lives and interact with technology on a daily basis. Not mentioned here is how common smartphones have become with the Android versions made in China offering so much more for the budgets of ordinary people. And how it has changed the lives of billions of people in China, India, other parts of Asia and Latin America, bringing them into contact with the outside world. What is also interesting in this sense is that what took a huge effort over many years and many disappointments- the idea of a touchscreen that works- shows what an idea and the courage to persist in the face of innumerable hurdles can accomplish. See the link to how  Steve Jobs accomplished this. Daisuke Wakabayashi talked with Apple engineer Greg Christie in his article-"Apple Engineer on iPhone's Birth," Wall Street Journal, March 26, 2014. Christie had worked on a digital personal assistant at Apple in 1996, one that had tried the first touch screen Apple made. The device failed in the market. In 2004, eight years later the touch screen is the idea Jobs had Christie work on again. Many frustrations and obstacles later the first smartphone was developed by 2007. It took 10 years and undaunted effort which is the Apple story under Jobs. ...

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IBM's acqusiition of Lombardi Software founded by Phil Gilbert is intended to bring a design-thinking focus as part of the culture change at IBM. The move is an effort to develop speed at IBM as it shifts to faster growing new businesses such as data analytics and cloud computing. As the ways companies that buy IBM products change their manner of operating with decisions on using IBM products made in many departments and away from IT departments, IBM sees the need to change. Speed also offers a way to tackle the shift to new product technologies, which involves a transition period and falling total revenues.

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Several factors make it likely that oil prices will remain low for an extended period of time into 2016 and beyond. As Ailworth points out nobody is blinking. The Saudis plan no change to their high production. U.S. oil producers in the Gulf of Mexico have already made investments for deep sea drilling wells following the end of the moratorium on drilling in the Gulf. Many of these wells are producing at very low marginal cost as most of the investments have already been made. It makes economic sense to produce even in a low price environment, according to Andarko. Shell continues to invest in the deep waters of the Gulf. Its production is up 10% to 250,000 barrels a day. American shale oil drillers have not cut back as much as expected, partly because many companies with large debts need the cash flow to pay interest on debt. And some of the 1200 wells that were drilled but left untapped may also be brought on stream to slow production declines. As a result the overall production of American crude, according to monthly federal information, has declined by about 3% to 9.3 million barrels from the peak reached in April 2015. This helps the U.S., Europe, China and India, at a time when their economies are experiencing different problems. It hurts Russia, Venezuela, Nigeria, and Iran. Russia is coping as its exporters convert dollars into rubles after the sharp depreciation in the ruble, and helps local industry including steel producers, as well as wheat exports. Venezuela's economy is the worst hit. And Iran now has to produce at high levels in 2016 to improve its economy following the lifting of sanctions....

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Zeit Online shows in this article the continued efforts of the Russian government of president Putin to discredit Chancellor Merkel, following efforts to do this for Hillary Clinton in the U.S. presidential election.  During the Ukraine crisis and the settlement accords of 2014 Germany was seen as a partner by Russia, following sanctions, and renewal of these sanctions Russia no longer sees Germany as a partner. This report shows Russian efforts to discredit chancellor Merkel and the use of RT German channel, WikiLeaks reports of Chancellor Merkel and the TTIP agreement, for the same purpose. The refugee crisis following what is happening in Syria with Russian involvement, terrorism, financial crisis aftermath from 2008, are being used  says Zeit Online to support a movement for "order" as the state ideology now put forward from the Russian government. This could be an early indicator for the 2017 German federal elections, says Zeit Online. Merkel has said that she supports continuation of western sanctions on Russia. It is hard to see what Russia has gained in improving its economy and the standard of living of the people from this type of political action. Putin was able to achieve economic goals during 2005-2010 using good Germany- Russian relations as shown in LyrArc. This was the earlier period of Putin's terms in office, with a broad group of advisors, including finance minister Kudrin, who set forward a prudent economic course for Russia including foreign investment. The world and Russia are poorer from the departure from this earlier set of policies which would have enhanced Russia's economic growth. Kudrin was fired in September 2011, and the economic course has gradually drifted away from what is most prudent for the Russian economy and growth, and for the global economy. Nationalism was part of an earlier period before 1950, that led to frequent wars and economic catastrophes. A new course has been set since then, especially by American presidents Truman and Eisenhower, and people in India, China, the developing world, in Europe and in the U.S., would see little to gain from the politics of that earlier period in world relations.  ...

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Medicare Supplemental insurance (also called Medigap) covers out of pocket cost that are not covered by Medicare Advantage. Over long period of retirement thes plans offer the best protection from unanticipated costs. The Plans use alphabetical leters A B C D F G K L M N with F discontinued. And are standardized, meaning regardless of insurer or state you are in they are the same being set by the US federal government. These plans are sold by private insurers the largest being AARP plan by United Healthcare. One can join when enrolling for Medicare Part B when premiums are usually better yet one can also join afterwards. About 36% of Medicare holders have Medicare Supplemental or Medigap policies for health insurance.

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Millenials group ages 18-49 who have decided to have zero children post pandemic is growing, as shown in this story in The Washington Post- with many graphs about what is really happening. A 2021 Pew Research poll shows 44% of childless adults ages 18-49 saying they do not want kids, or are not likely to have kids. This is up from 37% in 2018. And 56% of these people simply give no reason, just that- no kids. The difficult economic environment is part of this, so is the difficulty in raising kids that do better than their parents, the huge resources needed to raise good kids, all leading to this view among millenial women.

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The Biden plan for families includes paid maternity leave of 4 weeks. It was shortened from 12 weeks in the original $3.6 trillion Biden Families and Workers Plan. This paid leave also applies to caretakers of ill family members such as elderly parents. The lack of such paid leave for mothers or ill parents care meant the US lacked one of the basic necessities of a decent state. Adam Smith in his Wealth of Nations paid much attention to how capital, land and labour could be combined to invest in improved quality of life, and how to build a decent society. Smith wrote this book around the time of the Industrial Revolution in England in the late eighteenth century. Capitalism taken outside this context of benefiting society in the country that started the Industrial Revolution, leads to problems that now exist in the US, China and parts of Europe.

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The Bell 212 helicopter that crashed in dense fog over East Azerbaijan due to technical failures leading to death of president Raisi and the foreign minister of Iran, was originally built in 1971 for the Canadian Armed Forces. Later supplied to the US Army and in 1988 manufactured in Quebec, then discontinued in 1998. Iran and other countries in eastern Europe still use Bell 212 helicopters which were widely used for commercial purposes. Iran has to contend with difficulty of getting spare parts from the US and Canada. The only other crash reported for Bell 212 is one in 1986 in North Sea oil facilities in dense fog. Reports say the 50 year old Bell 212 depends on visual flight conditions meaning only what the pilot can see from his seat which would have made it very difficult in the steep mountain slopes of eastern Azerbaijan. 

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The revival of the Mid-Market part of the downtown area in San Francisco after Twitter sets up headquarters here in April 2011. Twitter signed a lease till 2021 with Shorenstein Properties for a 11 story building built in 1937, for 295,000 square feet. Other developers are moving into San Francisco. Tishman Speyer is constructing two office buildings in the area called South of Market in San Francisco. Rents are now at $53.84 per square foot in San Francisco in the fourth quarter 2013 compared to $46.12 in the third quarter, according to C.B.R.E. Vacancy levels have dropped from 9.7% in 2012 to 8.2% in October 2013, and down from 15% in 2010.

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Brazil, a country of income inequality, is becoming transformed by trade and growth and urbanization into a middle class country- defined as those with a job in the formal economy, access to credit and owership of a car or bike, with a monthly income over $600. According to the Fundacao Getulio Vargas, this part of the population has increased from 44% to 52%. And the PT or Workers Party is still popular, with President Da Silva high popularity.

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New Yok has a mandatory foreclosure mediation program, with a 3rd party mediator working with the homeowner and the bank to achieve a loan modification. Of the 42,256 mortgages in New York approaching foreclosure since Jan 1, 2010, 75% went into the mediation process. Of this 80% achieved permanent modifications. In Connecticut 70% of 29,000 mortgages went into mediation with over 60% achieving permanent modifications for the same period. Where the mediation was optional as in New Jersey, only 20% of 50,713 mortgages went into mediation. In Nevada, another optional state, only 11% of 62,593 mortgages went into mediation. Mediation rates rocket when it is mandatory. One expert says that this is because mandatory mediation brings accountability and humanizes the process. By reducing the interest rate and making for lower payments the borrower stays in the home, and the bank continues to get its lower but consistent income stream compared to a default in payments. Today 20 states offer some form of mediation but only 2 states and 2 cities make it mandatory. This is happening in the disturbing context of a decline in troubled homeowners receiving assistance or modifications. About 470,000 homeowners received loan assistance in the 3rd quarter, down 17% from the second quarter, and down 32% from the same quarter a year earlier. The paradox is that one way to stimulate the economy that is not being tried is to mitigate losses in the housing market for homeowners and lenders. Spain's financial sector is doing modifications routinely and this is one way it is softening the impact of losses from the housing market. See Spain and residential mortgages....

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Palin's appeal helps McCain to be neck and neck in the WSJ/NBC poll with a majority of voters comfortable with the idea of a first term Alaska governor as President. Overall 9 out of 10 Democrats and the same number for Republicans say they will support their nominees solidyfying support on party lines but still 1 out of 4 Clinton supporters say they would not vote for Obama.

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Leinberger describes a study he did with Mariela Alfonso for the Brookings Institution. This study shows that walkable areas of Washington D.C. metropolitan areas, including parts of Virginia and Maryland, have higher real estate values . The more the walkable area the higher the real estate price. Similiar trends are being seen in other parts of the country including Seattle, Washington. The trend is shifting in favor of areas with walkable and bikable space creating better communities.

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This editorial in the WSJ after the U.S. presidential election is critical of extreme positions on immigration in the Republican party. It reminds readers that George W. Bush won 40% of the Hispanic vote with some passable Spanish and a friendly attitude on immigration, Romney managed only 29%. It says supporting immigration is a natural position for Republicans because most immigrants are culturally conservative and hard working. It call deportation in large numbers morally wrong and not workable. It also comes as immigration from Mexico is down significantly and many Hispanics are returning to Mexico. Hispanics suffered from the high unemployment in the U.S. following the 2008 crisis making it less attractive to come to the U.S. Growth is also increasing in Mexico with a large middle class and a falling birth rate.

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Democratic states face a sobering reality- can California, Minnesota, Illinois afford it? It turns out that they cannot and are diverting important funds away from the Nation's priorities in transportation, housing, education, rural healthcare. Here is what happened-- When California Gov. Newsom used state's Medicaid budget for poor citizens and disabled for illegal migrants to give free coverage, Medi-Cal went $6.2 billion over budget in 2025. In Illinois the program for Medicaid coverge to illegal migrants estimated at $112 million annually now costs $800 million and parts of it are now suspended. California had not thought this thing through, with free medical coverage not available to even citizens of the US, why would unrestricted borders not overwhelm a border state's Medicaid system signed into law by a Texan president Lyndon Johnson for the people of this Nation. Democratic States are running into a logical fallacy that the European Union and Germany are already experiencing, stretching straining public services, which has nothing to do with one's sentiments. Gov. Newsom now wants to give this benefit for $100 monthly premiums in 2027. ...

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The lessons from Italy, the epicenter now of the coronavirus pandemic, are clear- act early and decisively, impose quarantines and lockdown quickly to prevent intermingling. These steps need to be put early, with absolute clarity, and strictly enforced. This report in the NYT shows how decisive action early is the only way to prevent the crisis from becoming a large one that threatens the health system and millions. German states such as Bavaria and others now have a $25,000 euro and some have jail time. Singapore has jail time and fines for violating the stay home quarantine orders which it imposes after contact tracing. Taiwan has similar measures. Enforcement and strict control are part of the tools that have worked in these places and in China, South Korea.  Britain has still to close flights from Iran, Italy, which The Times reports on March 20 are still landing at Heathrow. This is after the U.S. weeks earlier banned flights from China, Iran, Italy, and last week from Europe after EU nations failed to take action early.  ...

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Questions of race, deserted towns in the eastern part of Germany as people leave for the western part, and worker's struggles, that are aspects of German life, taking shape in German cinema. The movie is Jerichow based on asmall almost deserted town in the east near the Baltic sea.

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Italy's South is its poorest region, with scarce job opportunities. It has not recovered fully from the economic crisis of 2009. The Five Star movement in the current centre right governing coalition has many of its voters in the south of Italy. The government is fighting to save a Arcelor steel plant in the coastal city of Taranto. The state is working to prevent other factories from closing. The Italian north industrialized early being closer to France and Germany, the southern region remained agricultural with immigration as a way out of poverty. The government supported jobs in the south and industrial development after 1945, and expanded public sector jobs. Regional progress in the south stalled since 2000. Today per capita gross domestic product in the north is 35,000 euros compared to 19,000 euros in the south of Italy, according to Eurostat. Unemployment in some southern towns is 20%, compared to less than 10% average in the north. The answer says prime minister Giuseppe Conte, is to "have a sort of bank of the South for investments." The opposition party far right Northern League led by Matteo Salvini is popular and is also pushing for supporting southern regions with extra funding. ...

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Robert Mueller, the special counsel, says the Mueller Report and his investigation into the 2016 presidential election does not exonerate president Trump. If we had exonerated the president we would have said so, said Mueller in a public statement. "If we had confidence the president did not commit a crime we would have said that," Mueller said. He said the constitution of the U.S. does not allow a sitting president to be charged by the special counsel. Because the special counsel office is under the Justice Department and the department policy set the manner of the report, charging the president was not an option he had. The Republican party controls the Senate and the Democrats control the House of Representatives. Any effort by Democrats in the House to impeach the president would fail in the Senate. Democrats and Speaker Pelosi are wary of impeachment proceedings. Mr. Mueller's statement suggests there is also growing discomfort in Congress about taking no action at all that would be construed as exonerating the president for what happened during the presidential election, because it might set improper precedent for the future. This increases the pressure for impeachment proceedings in the House of Representatives from some Democrats for more information to let Congress decide. ...

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Khair says in the Hindu newspaper, that the problem in India is not that the BJP is gaining ground, but that the Opposition is divided and is shrinking. The shift of Bihar chief minister Nitish Kumar to the BJP leaves the Opposition in disarray. The Congress leader Rahul Gandhi is seen as weak and lacking the charisma of Nehru. The dynastic control by the family and Rahul Gandhi's leadership are serious problems for the opposition. After the victory in Uttar Pradesh state, and the erosion of support for Congress, India lacks a strong Opposition in parliament, which is not good for the country, says Khair.