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Antonis Samaras continues his efforts to get the EU to agree to a two year extension for deficit targets agreed to in the March 202 bailout. He meets Merkel in Berlin, Aug. 24 and Hollande in Paris, Aug. 25. Merkel's coalition partners the Free Democrats oppose an extension. The opposition Social Democrats leader Steinmeier tells the Frankfurter Rundschau newspaper "its not very smart to abandon all conditions for aid over an extension of 12 months." Samaras tells the Sueddeutsche Zeitung newspaper: "our economy shrank 27%. Greece is bleeding, It is really bleeding." And German finance minister Schauble tells Germany's SWR2 radio that its too early for Greece to come back and say the agreed aid is insufficient considering that its ony 6 months since the March 2012 agreement. Merkel and other leaders in the Christian Democrats say they will wait till a report from the troika (the EU, ECB and the IMF) in October 2012 before responding.

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Value for money is dominating China's shopping in 2023, says this WSJ report. Pinduoduo sales have increased 66% to $7.2 billion for second quarter 2023. It sells groceries, apparel, electronics at prices lower than other retailers.

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Ford's higher EV manufacturing costs than GM, and the $1.2 billion of warranty repair costs from gasoline powered vehicles hurt its bottom line in 2023. Ford says it lost $37,000 on each electric vehicle in third quarter 2023.

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Federal data showing international and domestic migration by US state and the natural growth in US Population 2026. California, Hawaii, Vermont, New Mexico lost population because of domestic outmigration, lower international migration and natural birth/deaths led to net negative growth. Population growth was fastest in Idaho, Utah, Washington, Texas, North and South Carolina, Tennessee, Georgia, Florida, Arizona, in southern and western mountain states. Births were higher in these states in addition to the domestic in-migration from other states. Population is slowing to about 0.5% after the big surge in international migration under the Biden Administration from failed states such as Venezuela, Guatemala, and from Mexico at the southern Border- by 1.8 million to reach 341.8 million. One of the problems is integrating newcomers- the Movement for Literacy in the US is to ensure new US citizens have an essential grasp of the ideas that shaped the nation and civic information, knowledge of the English language. Another is burden on social services needed and healthcare services which were under strain under the Biden administration open border policy. Also significant is the concerns of residents for homelessness and safety in urban areas.  ...

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Chris Wormald to be replaced by Antonia Romeo as Cabinet Secretary in Feb 2026. The only way Keir Starmer can get a new start is to be himself and follow his convictions about what is right for the nation. It means getting a new team that will help him implement a plan of action. Antonia Romeo top civil servant in Britain's Home Ministry, is given the job of Cabinet Secretary replacing Chris Wormald. This means the PM will be getting better advice on making choices for the future compared to McSweeney and Wormald, political and civil servant members from the previous team that were overawed by people in powerful positions, and did not respect people of conviction and honesty regardless of where in Labour that they came from. The future of Britain and the US, and of Europe will be build by people of honesty and conviction, common sense, and willingness to learn, not by false notions of centrist and left or right that for too long have determined the nature and sway of politics. For this to happen Starmer must look deep within himself. ...

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Chris Klomp, 45 years, takes over at 65,000 person $2.6 trillion government agency, Department of Health and Human Services, as Counselor, as Robert Kennedy Jr. heads for the campaign trail in addition to HHS duties March 12 2026. He impressed DJT with his negotiating ability against the drug companies in the government's efforts on Affordability of medicines. DJT calls him "my favorite Mormon." Susie Wiles was looking for a stabilizing force at HHS after vaccine controversies and wants the message to focus on improving health and cutting costs. Robert Kennedy Jr says about Klomp- "He is moving quickly to impose operational discipline, sharpen our strategic direction, and fortify a renewed sense of mission and accountability.” Klomp is pulling together all the agencies under HHS including FDA and others. Klomp takes his role seriously to cut costs and improve Health- .“In health care in particular, I do believe that I’m my brother’s keeper, and our job is to do the very best that we can for the people that we serve — the American people.” ...

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US DJT Tariffs impact 1 year later- global trade has held up well with US unemployment at 4.4% and economic growth at 2.1%. China imports down from 20% in 2016 to 10% ten years later in 2026. For DJT that was a promise kept leading to a sharp decoupling of the US economy from the Chinese economy that was leading to huge trade deficits of 1 trillion dollars. Too much of the world's supply chain was tied up with manufacturing in China. It got so bad under Reagan, the two Bushes, Clinton/Obama that the US and EU were facing deindustrialization with huge risks to the future of the US and Europe as industrial powers. 150 years of industrialization and scientific advancement, the great achievements of Europe and the United States since 1860's was going up in smoke over reckless policies of Republican and Democratic elites who gave little thought and barely understood the long run effects of their policies and textbook theories of the economy. Most economists from ivy league universities got it completely wrong. ...

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“The world needs more energy. The world needs more resources, and U.A.E. wanted to be unconstrained by any groups” says UAE energy minister, Suhail Al Mazrouei. On May 1, 2026 UAE with 12% of OPEC cartel production (3.6 million barrels a day) will leave OPEC. It is a change in strategy of where and how to sell oil production in the future. UAE including Abu Dhabhi oil company says it is time for it to pursue its own national interests. As its economy is diversified including tourism and other sourcesd of revenue, UAE puts volume before price support. Saudis are not diversified and seek to maintain price support and keep fossil fuels way into the future. Qatar and Ecuador have already left the cartel. Since the old days of OPEC US has emerged as the largest producer, Venezuela is coming back as a major producer, changing the situaiton now that UAE is  also not betting on and supporting efforts for keeping prices high. This is good news for India and China, Japan, major buyers of oil and with large populations increasing demand. It also helps the US because of its diversified economy. ...

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Iran's economy following the naval blockade- WSJ cites assessment by Miad Maleki who led Treasury's sanctions campaign on Iran in 2025. Loss of $435 million of economic activity per day and oil shut ins in 2 weeks. As the Europeans sit out this naval blockade and US rethinks its participation in NATO, as the poorer countries in the world are affected by the shortages including Pakistan, India, Sri Lanka and others around the world, the one baffling aspect is how far a nation (Iran)could let its economic prospects be affected to continue uranium enrichment. It is about the failure of another Middle Eastern nation to modernize and improve the living standards of its people, (after Afghanistan, Pakistan, Sri Lanka, Syria and Iraq),  wasting a once in a centuries opportunity to do this wasting an oil dividend that will only last to 2035 when renewable energy may replace fossil fuels. Instead leaving the region with intermittent wars and destruction from the wars since 1950, falling behind in a world that is rapidly modernizing in China and India with about 3 billion people committed to modernization. ...

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Kharg Island near Hormuz and Jask Island on Gulf of Oman two of Iran's main oil export terminals. Oil is pumped by underwater sea pipelines to storage tanks that hold 30 million barrels on Kharg Island then loaded onto oil tankers that make their way through the Hormuz Straits. The oil is shipped to teapot refineries in China- smaller independent oil refineries in China that have not faced sanctions. This oil is shipped at a discount. How does China pay for this oil? China gets 2.1 million barrels a day from this source. It is paid for with a $400 billion Chinese investment in Iran under a 25 year Comprehensive Partnership Agreement signed in 2021 during the Biden Administration in the US. The investment covers energy, infrastructure and technology in Iran. At $60 a barrel before the Iran War China would have an import oil bill of $46 billion for 1 years supply of oil from Iran. This was paid for in yuan based transactions and barter systems which involved Iranian construction projects performed by China and exchange of other products, raw materials. ...

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One example of how the appearance of divisiveness in the media may be misleading is how all sides are coming together on the toughest problems. On housing supply a genuine change has happened. The 21st Century Road to Housing Act biggest bipartisan legislation before the midterm elections is passed in Congress. The most comprehensive and consequential housing legislation in a century as the president DJT calls it, passes both Houses of US Congress by big majorities, in the House by 358 to 32 and in the Senate by 85 to 5. Senators Elizabeth Warren and Tim Scott from both parties worked together to get it done. It addresses both rural and urban needs for small towns and large cities, creates more funding, cuts approval time, and provides incentives for builders. It also limnits institutional investors in how much of housing they control as this worsened the supply of housing and housing prices in recent years. The extent of the housing supply crisis can be seen by the 54% climb in housing prices since 2020, costing 5 times the median income far above historical standards, according Harvard Center for Housing Studies. ...

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Xi's "Great Rejuvenationof the Chinese Nation" compared favorably to DJT's "Make America Great Again" by Xi Jinping during DJT visit to Zhonghanhai Compound of China's leaders in Beijing. Xi Jinping says during DJT visit to Beijing May 14 2026- “Through strengthened cooperation, both China and the United States can promote their respective development and revitalization." This is important to grasp if one wants to understand China. Much of the media focuses on this or that smaller aspect of the DJT visit to China, including the NYT when it shows DJT invited to a walk on the garden grounds of the Zhonghanhai Compound. It does not accept that president Xi Jinping finds little that is relevant to China today and its aspirations in places like Iran and the Middle East. That Xi admires the US efforts for reindustrialization and renewal in the same way he sees the rejuvenation and renewal of the great Chinese Nation and sees this as shared goals for betterment of their people's lives.  ...

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By carrying only 150,000 passengers of its normally 42.4 million passengers and grounding all but a few aircraft Ryanair Europe's largest airline, will show a loss of 100 million pounds. It will resume operations by July when it expects about half of the 42.4 million passengers for the quarter. Routes will be cut and prices adjusted with profits expected by September 2020. It expects full recovery of the airline industry to take about 2 years. For the financial year ending March 2021 it expects about 100 million passengers for the year down from 154 million passengers normal for the year. Ryanair is one of the only airlines that was able to plan this far. It has laid off one sixth of its 18,000 staff.

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This article in the Atlantic Council September 17, 2024, shows that the world may be fixating on the Straits of Hormuz when it should really be focusing on the Red Sea shipping for the Suez Canal. The Iranians ship 1.5 million barrels a day of oil through the Straits of Hormuz, and closing it off would close off the oil revenues that sustain its economy. Wald writes that even if the Iranians in a crisis would clsoe off its waters to shipping another route exists in the Straits of Hormuz through UAE waters when needed by oil shipping and it has been used by British ships. The Red Sea and Suez presents risks coming from Houthi rebels supported by Iran, who have attacked the US Navy ships in the region.

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Daimler CEO Zietsche, says he sees global demand for all electric cars or electric hybrids at 1-5% of total demand by 2020. This was a cautious and measured view for Merceds Benz. Benz joined BYD of China in a joint electric car venture in China, with an investment of $90 million. This is in conrtrast to the view of Nissan's Ghosn, who sees the demand closer to 10% by 2020 for electric cars. Nissan plans to produce 500,000 Leaf electric cars by 2012.

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For the first time the number of people vaccinated in a single state in India reaches 40 million. In Maharashtra state in western India, with state capital Mumbai, the vaccinations crossed 40 million on July 20, 2021, according to the state's Additional Chief Secretary for Health. India has vaccinated 410 million people by July 20, 2021. About 3 million people are getting vaccinations daily.

Maharashtra was one of the top 5 states in the first and second waves of the coronavirus in India. About 2 million healthcare and front line workers have been fully vaccinated in Maharashtra. Maharashtra has a 2021 population of about 125 million according to Aadhar and is the second most populous state in India after UP which has an effective vaccination drive. 

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WSJ Review and Outlook on Thanksgiving Day 2025 - "This Fair Land" and the people of America who undaunted by other troubles left Delftshaven for these shores a long time ago. Delftshaven is todays Delfshaven that is a part of the port city of Rotterdam in the Netherlands from where the Pilgrims left for America. Pilgrims left Delftshaven in July 1620 on ship Speedwell to Southampton, England, then in September on the ship Mayflower to America.

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US had jobs growth of 336,000 in September 2023. The unemployment rate remained at 3.8%. It is below 4% for 2 years and this is the 33rd month of jobs growth. As jobs growth takes place under president Biden, 13.9 million jobs created, the inflation rate is also declining. Americans had $4 trillion in checkable deposits (checking, savings and money market accounts) in 2023 compared to about $1 trillion in 2019. Hiring numbers were updated by the Labor Department showing 119,000 more jobs added in July and August 2023. 

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German residents preparing to cope with a cutoff and rationing of gas for heating during the winter of 2022. Hospitals and homes will get priority over industry. DW.com shows how 8 people living together in a large home in Bonn's old city plan to cope with the situation in winter. Oil tanks used for heating will cost double this winter.

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Renewable energy will get a big boost after the Ukraine war but there will be a period of transition during which more fossil fuels are produced in the US, Qatar and other parts of the Middle East to meet demand in Europe in 2022. Europe is working to develop alternative supplies of energy in an effort to move away from dependence on Russian energy.

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US president Biden now plans to break the $2 trillion Build Back Better into smaller pieces so that where there is greatest support such as early childhood education, action on climate change, and other parts of Build Back Better, these parts can move forward in 2022. This is seen by Biden as a better strategy to accomplish the same goals.

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WSJ looks at how the relationship between Joe Biden and Kamala Harris evolved. From the faltering start when Harris was contesting for the presidential nomination and made sharp debate comments on segregationist senators and Biden, to her entry into the White House as Vice President dissolving her political action committees and not bringing her election people to the White House. The first assignment was on immigration and the White House asking Harris to tell Central Americans not to come to the US border did not exactly work out. Guatemala was in the middle of a drought affecting its agriculture and sending more people from the affected regions to the US Border. That message did not work and Harris came under criticism. There was less contact with Biden during the years 2020 and 2021 because of the pandemic.   Gradually though the president came to listen to Harris and set up a weekly lunch meeting. When Supreme Court nominations were to be made Biden relied on Harris's advice. Ketanji Jackson nomination to the Supreme Court came out of these talks with Harris. Then came Roe and Wade and the president who was not outspoken on this issue realized that Harris was better at communicating a common vision of what America stood for and the importance of reproductive freedoms. When Hamas attacked Israel, the response of Netanyahu was leading to an humanitarian disaster. President Biden listened to Harris describe the need for a Palestinian state and it building peace with Israel as the only real solution to the crisis. Biden sent Harris three times to the Munich Security Conference, and each year she met Mr. Zelensky and discussed the Ukraine issues with European leaders. Then came the debate performance and Democrats questioning Biden's health. Harris remained steadfast in her support till the end and on July 23 after announcing his withdrawal the previous day Biden told Kamala as he addressed Wilmington headquarters staff- "I'm watching you kid. I love ya." And Harris said "I love you." ...

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WSJ looks at how psychiatric medications are posing a risk for veterans in 2025, and practices leading to overmedication of veterans.

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Netherlands government takes back control of Dutch chipmaker Nexperia from China's Wingtech  using a court order in October 2025.

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Rollback of food tariffs on beef coffee and other agricultural goods by the US November 2025 to address cost of living concerns.