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Brent crude drops to $73 a barrel on June 24 2026.

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A very basic EV pickup truck at $25,000 financed by Amazon- with AC Cruise Control and 2 person seating that can be converted into 5 seating using a special kit. The company named Slate based in Troy, Michigan, does not depend on government incentives, bypasses dealerships altogether. It is built using robotic machinery not metal stamping machines and does not use paint but uses $500 customizable vinyl wraps. This way it avoids having paint shops and metal stamping plants like the major car makers, which are major parts of the cost. It will be made at a factory in Warsaw, Indiana in 2027. The Slate pickup truck is shorter than a Toyota Corolla. It can be driven on one EV charge for 205 miles and can use Tesla's charging network.

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WSJ says Turkey should first give up Russian S-400's to get the F-35's under requirements set by Congress. It calls DJT's comments about giving F-35's to Turkey for not joining Iran's side a "head scratcher."

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About 400 engineers of IO with connections to Apple joined Open AI in an acquisition. Apple's lawsuit against Open AI with which it had started a partnership in AI in 2024 which has soured states-

"OpenAI’s nascent hardware business now rests on the shakiest of foundations, rotten to its core by its illegal reliance on misappropriated trade secrets” 

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Pricing of hotels in Rome Italy where $100 is a hostel, $200 a budget hotel, luxury $700 a night an up. Dynamic pricing means a hotel can cost $400 in the summer and $60 or $100 in September. This is true of mjor toruist destinations and  major cities in Europe. Staying away from the city in a leafy suburb can get you a normally priced room on Booking.com as shown here in the range of $100-$200 and it is a good idea to stay away from the bustle and crowds. Rome's average nightly rate April 19 is $300 a night up about 15% over 2025.  This tells you the first rule in travel in European Union is to choose destinations which are not the big cities, and away from the seasonal rush and crowds. The advice here is to look for residential neighborhoods (less costly and more peaceful), plan 6 months  for peak season  to get a decent price and a better shot at getting a decent hotel in Europe.

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Gas prices at pump drop by 4% on June 24, 2026 in the US, even as oil prices drop by a third from over $100 a barrel to less than $70 as ships make it though Hormuz channel.

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Scott Bessent on the economic and national security of the people of America that follows Alexander Hamilton's advice on possessing all the essentials of national supply. This is also about the American Dream that brought so many people across the oceans to this continent for 400 years since 1626- of the promise of land and opportunity, of scientific advancement and new technologies, of manufacturing on this continent and creating opportunities for American workers and families in our industrial landscape.

Scott Bessent said- 

"The primary vision of this Administration, that every decision and policy of the United States Government should serve the American people."

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Iran wants to suspend the Oman US route in Hormuz channel to control navigation- the US wants to keep it open for open seas navigation July 7 2026. 30-50 ships make it through Hormuz. US revokes Iran's oil shipment out of Hormuz as a result, and makes strikes on Iranian  missile launching facilities used to disrupt open seas navigation on the Omani side protected by the US. US tries to set back channels to IRGC military that controls Iran, but IRGC does not carry out regular ongoing talks, talking only at the pressure of the president of Iran working with Pakistan, Turkey and Qatar to convince IRGC authorites. China has reduced its need for the barrels coming out of Hormuz, may not go back to getting Hormuz barrels. UAE has found alternative routes to ship and increased supplies, Saudis doing the same. India and Japan looking for alternative sources of oil including US and Venezuelan supplies. Most of the buyers of Hormuz oil reluctant to go back to getting Hormuz barrels. In this sense the situation has changed, from when the war began. Oil prices could rise from $70 to $76 , and a bit more, but the old situation of Iran threatening oil supplies of the poorer developing countries of the world including China, India, Indonesia, Philippines, Sri Lanka, most of Asia and Latin America, African countries, countries that cannot afford oil prices of $100 is something the world does not need. And the tide is shifting to alternative supplies, conservation that adds enough barrels of oil as China and India, Japan, Germany, are doing, and the US also to some extent. By 2027 alternative supplies will have increased to pull the world out of this place called Hormuz, to where it becomes an insignificant source of unreliable supplies. ...

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France's 2750 kms of TGV track and 300 TGV trains making 1.8 billion euros profit a month. Double decker trains such as on the Marseille to Paris 750 kms route are popular. These trains are very quiet and efficient. Doubledecker trains are also popular. Bordeaux, Lyon, Lille, Strasbourg can be reached, and Geneva, Brussels, London, Zurich. It is the best high speed network in comfort and efficiency, food, in the world, with large group of international travelers. France did this after the 1973 oil crisis.LGV-Sud-Est was completed in two phases in 1981 and 1983. By contrast Britain faile to build ahigh speed rail line and work has dragged on for years. Germany has a similar but smaller network. China's only started in 2008 built over 17 years to 2025. India's is starting now with the latest Japanese technologies and should be connected major Indian cities by 2030, with the first line Ahmedabad to Mumbai complete in 2027.

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Germany's top goal scorer Deniz Undav in World Cup Soccer 2026- started work at 4.00 am job at a laser machine factory then training for soccer later joins English team Albion, then the Stuttgart team. He was considered to be small and scrawny as a young boy playing in preparatory soccer team at Werder Bremen, leading to his taking this unconventional route to the top in world soccer. He scored 9 goals in 12 games surpassing Haaland, Messi, and Mbappe, in the time he took to get a goal in this World Cup- 50 minutes.

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India's handling -under the Modi government and ministries working together in a long range plan- of the Hormuz crisis, and keeping gasoline prices, gas for cooking prices, and diesel prices to below 8% increases is an achievement of tremendous proportions. Yet it is rarely if ever mentioned  in the media in the US and Europe.  It shows the huge importance of good governance in the lives of nations and people, when we are talking about 1.4 billion people, of massive impact. This report on India's handling of the Hormuz oil crisis by the Modi government in The Hindu shows how India kept prices of petroleum and gas, diesel, down to an 8% increase compared to 45% +  increases in other countries in Asia and Europe. By having all ministries work together, planning for petroleum needs years before he crisis, government absorbing the cost, renewables energy goals accelerated, and better preparation through its oil reserves, India was able to weather the Hormuz crisis. US and its ally in Venezuela have stepped in with Delcy Rodriguez's visit to India, Marco Rubio's visit to India to reassure India of supplies from their exports. Even as oil prices rose above $120 a barrel India was able to weather the crisis and show to the world and to the US, to the 1.4 billion people of India, how important a factor good governance can be in the life, survival and growth of nations and economies in the Modern World. In this report The Hindu shows petrol prices in India were up 7.5%, compared to Germany 14%, UK 19%, US 45%, Pakistan 50%, and Philippines 50%. FOr diesel UAE prices rose 85% in UAE itself, in India just 8%. Domestic cylinders of gas cost Rs 942, Ujjwala lower income and elderly benefiiciaries got it at Rs. 642 ($7). ...

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The S&P 500 index gained 5.9% the week of October 29th for its best gain since November 2022. For 2023 it has gained 14%. A jobs report showing less job growth of 150,000 slightly higher unemployment at 3.9% and slowing inflation, led the US Fed to pause raising interest rates. This has created optimism that inflation would gradually decline which is good for the economy.

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S&P 500 up 5% in 2025 by June 27 2025 recovering 20% form lows after tariffs. Scott Bessent had promised agreement in place by July this date will be extended  yet confidence has returned that the agreements will be put in place after German chancellor Merz met with DJT at the White House. With Germany leading the way the biggest of the agreements with EU could be put in place. Additional agreements would come with India and China, and Japan, South Korea.

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US Strategic Petroleum Reserves in July 2026 with half the capacity 352 million barrels released under Biden and DJT to tamp down oil prices.  Much of the reserve capacity is in caverns on the Gulf Coast with problems of leaks, wear and tear, equipment breakdowns, lack of investment. The massive underground salt caversna re located in Winnie and Freeport on Texas Gulf Coast, in Baton Rouge and Hackberry on Louisiana Gulf Coast. President Gerald Ford set up the Strategic Reserves in 1975, making these facilities 50 years old.

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Scott Bessent Treasury Secretary told the Economic Club of New York on Tuesday evening that the founders knew something more enduring than what we have come up with in the last couple of decades with chips and other technologies- " "The founders understood something far more enduring: that the fortunes of a nation are shaped by the energies of its people. Those energies transformed a small republic on the edge of a continent into the most prosperous nation in the long sweep of human civilization." We should never forget this, and we should make the energies of the American people and how it affects them the core of everything we do.  America's strengths lie not just in its natural resources and the depth of its capital markets it lies in the conditions, the character, capacity of its people- "It resides most of all in the character and the capacity of our people: the entrepreneur with an idea, the worker who can master new trades and technologies, institutions with the freedom and confidence to flourish." We must remember Bessent says what Alexander Hamilton as one of the founders in the 1780's taught us about possessing within us all the essentials of national supply, so that we produce what we need- "Alexander Hamilton taught us: that every nation “ought to endeavor to possess within itself all the essentials of national supply.” Our strength is derived from what we can build, for the nation that can’t produce what it needs isn’t truly secure. The nation that depends on its adversaries for critical inputs isn’t truly sovereign. And the nation that reduces its economics to consumption isn’t truly prosperous." Access to cheap supplies of goods is not what the American Dream was and is about from the beginning of the settlement of this continent in 1620's and throughout the period before and after independence for 400 years.  "Access to cheap goods is not the essence of the American Dream. The American Dream is rooted in the concept that any citizen can achieve prosperity, upward mobility, and economic security. For too long, the designers of multilateral trade deals have lost sight of this. International economic relations that do not work for the American people must be re-examined." ...

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The European Union is about to ban social media platforms from accessing children under age 13. This is how Ursula Van Leyen puts it - it is not about children accessing social media, it is about social media platforms accessing our children, says Leyen. She will announce this in her address to the European Union in September. A new report by a psychologist Fegert and an epidemiologist Melchior comes to the conclusion that social media is harmful for children, not just under 13 years, restrictions should be placed on 13 to 18 year olds also to prevent infinite scrolling and other addictive features. Australia has announced a ban setting the age at 16 years. Britain is tightening its ban. France is planning to ban setting the age at 16. The following countries are about to do this- Denmark, France, Germany, Spain, India, Indonesia and Malaysia. When the EU announces a ban it will apply to all of Europe. In the US Florida passed a ban setting age at 14 years. Across Europe children spend 4 to 6 hours on social media a day and for 60% of children it is having harmful effects on emotional health and creating psychosocial problems for children. It also affects the education, the reading comprehension of children as less books are read, and a whole new generation of children is growing up in a way that was never before seen in the Modern period where books and reading were a key aspect of modern society for the last 200 years. ...

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The S&P 500 has changed since 1998 for top 10 companies. Phillip Morris and Coca Cola are gone from the top 10. Apple at 256th is now the biggest by far exceeding Exxon by $200 billion in market value. J&J, Chevron are in, General Electric and Microsoft stay in. Added are Google and Wal-Mart in the top 10. Better management and vision played a role.

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Mann Ki Baat June 2026 Visions of Milkha Singh- India in the 100 Meters, 200 Meters, 500 Meters, Modi talks to Indian Athletes, Gurindervir Singh and Animesh Kujur. Gurindervir Singh is from a family with father and grandfather in sports from the 1950's. He is India's fastest athlete in the 100 meters. Here he talks to Modi about his experiences competing in Indian athletics. He is part of the Indian Navy. One of the things he had to overcome is the sentiment that Indians could not compete with world class athletes like Roger Bannister in the sprint and fast running. He hope to dispel this sentiment. He is also a reminder of the achievements of Milkha Singh from his community in the Rome Olympics in 1960 where he came in 4th. Milkha Singh(known in India as the Flying Sikh) won the gold medal in 1958 and in 1962 at the Asian Games in the 200 meters and 400 meters races and the 4x400 Meters relay. He was part of the Indian Army. Kishane Thompson is one of the fastest sprinters under 10 seconds for 100 meters with most of the sprinters in top ten worldwide from the US or Jamaica. A whole new world is opening up in athletics in India with building of world class facilities, gyms, government support for athletes, and social recognition of the importance of athletics and sports. This extends to women's sports and the pesonal support to women's sports is well known throughout India from the prime minister. One of the aspects of running in Kenya, and Jamaica, is the hard scrabble conditions, which Indian athletes including Milkha Singh experienced, people from all parts of the country, without the necessary resources are also competing in sports in India in 2026. ...

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 Iranian drone attacks and French British interception efforts - a report from the French armed forces staff about shortages in munitions. Drone attacks by Iran in first 2 weeks of Iran war are as follows- 590 on Qatar and Kuwait, 500 and 550 on Saudi and Israel, 1700 on UAE. A flood of low cost Shahed drones intended to overwhelm defenses is used by Iran. Drones can be launched from all parts of Iran including from the countryside in a country 3 times the size of France. The drones also cost little to produce in large numbers in Iran. Munitions cost and cost of aircraft usage, other costs of Navy, run to $12.7 billion for the US and US asks for another $200 billion from Congress. France uses 24 Rafale jets Britain 8 Typhoon jets in this report from French armed forces and French munitions supplies are an issue as the war progresses. France uses MICA missiles for interception made at a factory in Bourges central France, with limited supply.

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Reeves and Lammy depart as Burnham chooses new cabinet Healey is new chancellor and Shabana continues as Home Secretary. Healey was Defense secretary under Starmer. It is important that he was in 1999 Parliamentary Private Secretary to Gordon Brown as Chancellor of the Exchequer. In 2002 he was appointed Economic Secretary to the Treasury, and in 2005 Financial Secretary to the Treasury. In 2009 he was Minister of State for Housing and Planning. Shadow Secretary of Health in 2010 and 2016, Shadow Secretary for Defense under Starmer after supporting Starmer for leadership of the Labour Party. He was first elected to parliament in 1997 and had majorities of 50-70% in elections serving for 29 years in parliament. He is the right choice for Chancellor, or Finance Minister of the UK to work with Burnham on Labour's goals. Reeves was problematic from the beginning because she stuck to what people said could or could not be done, not able to think outside the box to get Labour to be itself and do what people wanted from Labour. In this way she set herself and the Labour party for failure by losing the very public that Labour had promised to help, with this public becoming indifferent to Labour, because in many ways it was Reeves's Labour not Starmer's. As Starmer, not much of an original thinker and little experience outside of law, followed Reeves economic theories borrowed from The City, Britain's version of Wall Street. Andy Burnham is right to choose someone who can think on his feet, no knowledge of economic theory required because orthodox economic theory has failed America, failed Britain, and created the mess of single supply chain concentrated in China in the first place with its theories of comparitive advantage. What is needed is someone who grasps and hold near his heart the aspirations of the British people, and hears their concerns everyday, not think tanks telling one what to do, and acting on these concerns in creative ways, thinking and improvising solutions along the way, not afraid to experiment. This is how FDR handled the economic difficulties of the 1930's, another period like today's when Wall Street theories had failed badly. This is also how China handled the economic collapse after Mao's death following the Cultural Revolution in 1984-1997. This is how Modi handled the economic difficulties in building a modern nation by experimentation in the western state of Gujarat in 2001-2014 without preconceived ideas and theories, keeping what worked and expanding on it.  Lammy was not the right choice for Deputy Prime Minister, and failed to provide leadership and focus the country's attention on the issues of migrants, asylum hotels, housing, rebuilding relations with the European Union, economic growth, neglect of the north of England and other deprived regions. No such position of Deputy prime minister can be filled in many situations. As Foreign Secretary there needed to be some one who could speak with a stronger voice for Britain with the European Union, the US, China, India, and be seen across the spectrum of views in Britain as an effective voice. ...

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The U.S. Federal Reserve Open Market Commitee takes a position of pause and wait as it decides in March 2012 not to take any new further bond buying stimulus measures. There is uncertainty in equity markets about the effect this will have on equity prices. During the last two pauses in 2010 and 2011 the equity markets experienced downturns after withdrawal of bond buying measures by the Fed, leading to Fed action with QE 1 and QE 2 followed by a surge in equity prices and the S&P at over 1400. At the peak during the 2001 and 2008 dot-com and housing propelled booms the S&P reached over 1500. At this rate the curve for U.S. equity prices for the 2008-2012 period resembles a repeat of a narrow steep V shaped curve with only a 7% climb in April 2012 needed to reach the 1500 point in the S&P 500 average at which the previous two booms in prices ended up in a bust. John Taylor, Stanford economist, in a separate op-ed in the Wall Street Journal on March 29, 2012, called for a change in the mandate of the U.S. Federal Reserve for a more rule based policy because of the dangers of repeated boom and bust periods in the U.S. economy as a result of ultra loose monetary policies. The problem at this point in April 2012 is that profits of companies are not expected by analysts to come in strongly in the second quarter, with a slightly improving unemployment picture, expected upward pressures on oil prices from the Iranian situation, eurozone debt problems in Spain and Italy, and slowing growth in China, India and Brazil. These fundamentals do not support an S&P at the levels seen during the height of the last two booms of 2000-2001 and 2007-2008....