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Its called the most one side win in Champion League's history, the win of PSG Paris over Inter Milan May 31, 2025.

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Lego bricks are wildly popular in many countries including the U.S. Lego has seen "supernatural" growth in the last 8 years, according to Soren Torp Laursen, who heads the North American operations. Growth is now slowing, just as the Lego movie has achieved box office record for 3 weeks at No. 1. Data from NPD Group show U.S. consumer sales up 1% to $1.35 billion in 2013, giving Lego 7.8% share of U.S. toy market. Total sales were $4 billion in 2012. New products led to a surge in U.S. sales in 2012 by 26%. German sales were up 4% in 2013 compared to 13% in 2012, Germany making up 10% of its total sales. Now Lego is bringing out Lego sets based on the movie. About half of the 40 billion bricks are made in a small town of Billund in Denmark.

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The youth wing of the Social Democratic Party of Switzerland, the Young Socialists, have collected 100,000 signatures for getting a referendum to limit executive salaries to 12 times the pay of the lowest paid company employee. The initiative is based on the idea that the highest paid person should not earn more in one month than an employee at the lowest level earns in 12 months. The initiative is called the "1:12 Initiative for Fair Pay." At the large Swiss companies top salaries are at 93 times that of the lowest paid workers for 2011, according to the Swiss Federation of Trade Unions. This ratio has gone up from 14 times in 1998, showing the sharp increase in the last 15 years leading to greater inequality in society. By comparison the situation has been stable in smaller and midsize companies, where the ratio of the median wages of highest earning employees to lowest paid increased slightly from 7.6 times to 8.5 times between 1996 and 2010. A poll in early March 2013 showed 49.5% of those polled in favor of the 1:12 iniitiative, 40.5% opposed, and 10% undecided....

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Weidner gives 10 reasons to be wary about buying Facebook shares. The biggest may be that the value has peaked, especially when this is validated by the large number of private holders selling their shares including Goldman Sachs. The percentage of IPO shares that are being sold by private holders in the Facebook IPO is 57%, compared to 28% for Google. Clearly something is going on.

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The European Banking Authority has worked on an exam for European banks since October 2011- separate from earlier stress tests- to determine the capital shortfall at banks arising from potential losses on bank holdings of sovereign debt. The EBA says banks in the eurozone will have to come up with 114.7 billion euros in new capital by June 2012, to meet reserve capital requirements for core Tier 1 ratio of 9%. The EBA looked at bank holdings of European government bonds as of Sept. 30, 2011. Loss rates for government bonds were applied at current market prices for the debt, and banks that fell short of the Tier 1 capital ratio of 9% were identified. This is different from the stress tests in that the stress tests were designed for banks to withstand deteriorating economic conditions, where a range of losses were applied to test for resilience. Spain and Italy have capital shortfalls of 26.2 billion euros and 15.4 billion euros respectively. Germany has a capital shortfall of 13.1 billion euros, France 7.3 billion euros, Portugal 6.9 billion euros, Belgium 6.3 billion euros. Banks have till January 2012 to show how they will come up with new capital. EBA officials will ask banks to do this without restricting lending. Germany's Commerzbank has a 5.3 billion euros capital shortfall, and may need government funds. Italy's UniCredit SpA plans to make a 7.5 billion euro share offering to its existing investors which will address most of its 8 billion euro shortfall. Spain's Banco Santander is divesting assets in Brazil, Colombia and Chile to meet a 15.3 billion euros shortfall. France's BNP Paribas and Societe Generale have shortfalls of 1.5 billion euros and 2.1 billion euros, which they plan to meet by selling billions of euros of assets....

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Why no new infrastructure building plan is in place in the US for decades as China, now India build new infrastructure every day with a Master Plan. The Francis Scott Key Bridge collapsed in March 2024 in the Baltimore, Maryland area. There was much hand wringing at the time and president Biden also stepped in with help. The Washington Post says 2 years later no plan is in place to build a new bridge. The cost keeps going up from $1 billion to $1.9 billion and up again to $5.2 billion, with the dates shifting 2028 to 2030. Maryland received $2.6 billion insurance payments for the damage to the bridge by a ship, yet the project is stalled in disagreements with different parties involved. Even in the streets of New York, the pedestrian pavements in Brooklyn and other places are so dilapidated but no one seems to care. Suggesting that New Yorkers are also numb to infrastructure being bad as it is, just as Mumbai residents were in the old days before infrastructure became a daily priority in India in recent years, following China's example. ...

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The McConnell phone call to Vice President Biden that led to the U.S. fiscal cliff deal of Jan 1, 2013.

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Congress has an obligation to fund the Transportation Security Administration that screens passengers at airports. TSA falls under Department of Homeland Security DHS. Democrats and Republicans are at loggerheads on immigration issues and are holding up funding for DHS and TSA agency. For 1 month now TSA officers at airports have not received their paychecks. About 25%- 40% have called in sick at some major airports slowing down security lines in rush hours of the morning. Congress goes into recess March 27th and if no funding has been passed by then the situation could get a lot worse, with many passengers missing flights, flights taking off without passengers.

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Many of the towns with manufacturing plants in 1992 have switched sides from Democratic in 1992 to Republican in 2016. This explains Donald Trump's success - he tapped into discontent with Democrats who supported trade agreements such as TPP and did little to take up the cause of workers in areas hit hard by foreign manufacturing and imports. It also explains why Republicans are now favoring protectionism and Democrats supporting free trade, traditionally the opposite was true.   As the U.S. manufacturing workforce diminished in size from 15% of the U.S. workforce in 1992 to 8% in 2017, it shifted from cities with unions to blue collar suburbs. Factories in traditional Democratic places were closed down and these cities ceased to be manufacturing centres. Pittsburgh ceased to be a major manufacturing centre as manufacturing jobs declined by 37000, and service industries increased by 168,000. This resulted in the manufacturing heartland going through Michigan, Minnesota, Wisconsin, through Ohio and the Carolinas and into the deep South. In these places whites without college education took up manufacturing jobs and identified with the Republican party's focus on social issues and abortion restrictions. So big is the shift that labor unions that represented 20% of manufacturing workers in 1992 represented only 9% of workers in 2017, according to economists at Georgia State University. Bill Clinton won 49% of working class counties where workers were at least 25% of the workforce. By 2016 the 860 such counties were down to 320 about two thirds now gone, and Mr. Trump took 95% of these counties. The change is dramatic. Voters that identify Democrat are now from cities, more educated, and less likely to be identified as blue collar. As the economies of these cities has shifted to finance and service industries, these residents have not accomodated the conservative cultural views. and have shifted to embracing more immigration, LGBT, gay rights on social issues. Before there was one mention in the 1992 Democratic platform of LGBT says the Journal, now there is 19 mention of rights for LGBT. Republicans have now shifted from privatizing Social Security, and now support some infrastructure spending. Republican platform now calls for free trade that is fair trade. And this has support from the left and the right. Factory owners and factory workers are united in their opposition to free trade rules that hit American factories. Union leaders say the Democratic Party left us. The Democratic Party gets more support and identifies more with Silicon Valley- Mr. Obama's TPP trade agreement benefitted Silicon Valley more than it did auto plants. The change happened over many years and Mr Trump capitalized on this. ...

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Even with a lower troop committment, the new costs of $ 1 million a year for each soldier, threaten to wipe out the $26 billion in savings from Iraq in 2010. The overall military budget could go up by 10% from a high of $667 billion under the Bush administration to $734 billion. Head of the House Appropriations Committee, David Obey, of Wisconsin, says that sending more troops to Afghanistan would drain the Treasury, and "devour virtually any other priorities that the President or anyone in Congress had." Rep. John Murtha of Pennsylvania head of a House subcommitte on defense appropriations says that a majority of the 258 Democrats in Congress would vote against any bill to pay for more troops.

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U.S. president Trump's 2017 budget is an effort to reshape spending priorities by the Republican party. Apart from Medicare and Social Security all other entitlement programs from the days of Lyndon Johnson's Great Society are subject to cuts. Deep cuts to Medicaid and food stamps, including introducing work requirements. The philosophy behind it is that compassion will now be measured not by how large these programs are but by how much the government can get people "off these programs and back in charge of their lives,"  according to Budget Director Mulvaney.  The cuts are $616 billion to Medicaid and Children's Health programs, $193 billion in cuts to Food Stamps, $143 billion in student loans, $72 billion in disability programs. The overhaul of the Affordable Health Care Act is part of this change. The reallocation would put more money into infrastructure for $200 billion, and in tax cuts, $19 billion in a parental leave program and $29 billion for veterans programs, plus added spending on the military. William Hoagland of the Bipartisan Policy Center, a Republican who worked on budget issues says it will be politically difficult as the cuts to lower income groups come with tax cuts for small businesses and higher income individuals.  Beyond the policy priorities there is an area where both Republicans and Democrats are skeptical of the budget. This is how it impacts the U.S. debt. Under Congressional Budget Office estimates the U.S. debt as a percentage of GDP which rose to about 75% after the Great Recession starting in 2008, is projected to grow to about 85%. In sharp contrast the Trump administration estimates of the Office of Management and Budget are for it to drop to 65% based on rosier estimates of 2% inflation, 3% growth for the decade ahead. Experts say this is unlikely once the Fed raises interest rates and the unemployment rate currently at 4.4% leads to rising inflation, undercutting growth which has remained below 2% for a long period. These concerns are also voiced by Hilsenrath in the WSJ based on the experience of other countries such a Britain that cut corporate taxes without seeing an uptick in economic growth. ...