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Why cost of living is destroying the social compact in the US and Europe and upending governments in 2024-2025
02/24/2025
Used car prices are up 45% since 2019 putting used cars at average price $28000. It is not a discretionary cost, one needs a car to get to work in the US. There are cases of young people not able to pay soaring repair costs quitting work without transport. This is why there was so much discontent in 2024 after supply shocks and price gouging pushed up prices in 2024. Another factor evident in airline ticket pricing was demand and the excess income of the top 20 percent. In housing and apartment rentals supply shortages pushed up prices, demand and excess income of the top 20-30 percent pushed up prices beyond the reach of the rest, higher interest rates made it unaffordable to buy a home for most Americans.
Grouped Articles
Why There Is No Relief Ahead for High Used-Car Prices
WSJ 02/15/2025
The U.S. Economy Depends More Than Ever on Rich People
WSJ 02/24/2025
Mitch MConnell, Mike Johnson, Pat Schumer and the effort to get Ukraine Aid passed through the US Congress in April 2024
04/26/2024
At a critical juncture which Lyrarc compared to the 1948 effort by Harry Truman to get Congress to support aid to Greece and Turkey. Devastated by the war Greece and Turkey's democracies faced an imminent threat from a Communist takeover supported by the Soviet bloc. Ukraine was at a critical juncture in the war with Russia when Biden met Republican Speaker Mike Johnson at the White House with Mitch McConnell and Pat Schumer in Feb 2024. Schumer said a lot of the credit goes to McConnell to convince 31 Republican Senators a majority of his caucus to support Ukraine Aid at a critical moment.
Grouped Articles
Aid to Ukraine seemed dead. Then secretive talks revived it.
Washington Post 04/25/2024
Bucking G.O.P. Isolationists, McConnell Was Linchpin in Winning Ukraine Aid
NYTimes.com 04/24/2024
‘Kharkiv Is Unbreakable’: A Battered City Carries On
NYTimes.com 04/24/2024
Opinion | Ukraine Aid in the Light of History
NYTimes.com 04/24/2024
Senate Approves Aid for Ukraine and Israel, Sending It to Biden’s Desk
NYTimes.com 04/24/2024
Speaker Johnson’s Ukraine Package Clears Key Hurdle With Democratic Help
WSJ 04/19/2024
The demographic crisis Japan faces.
11/20/2010
Japan's rapidly ageing population. The lower proportion of the working age population over time relative to the older population.
Grouped Articles
Japan Raises Sales Tax to Tackle Debt
Wall Street Journal 08/12/2012
A special report on Japan: Into the unknown
Economist 11/20/2010
A special report on Japan: On the down escalator
Economist 11/20/2010
A special report on Japan: The dearth of births
Economist 11/20/2010
A special report on Japan: Bring on the cultural revolution
Economist 11/20/2010
A Debate Arrives With Japan Politician's Baby
Wall Street Journal 01/06/2011
Credit rating agencies and the Dodd-Frank financial overhaul law
11/16/2010
Grouped Articles
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
The Stone Unturned: Credit Ratings
New York Times 03/22/2014
S. & P. E-Mails on Mortgage Crisis Show Alarm and Gallows Humor
New York Times 02/05/2013
How the Next Financial Crisis Will Happen
Wall Street Journal 06/10/2015
How Regulators Mess With Bankers’ Minds, and Why That’s Good
New York Times 04/14/2016
Why Credit Raters Keep Their Power
Wall Street Journal 11/16/2010
Ford's credit ratings.
10/26/2010
Grouped Articles
Wall Street Journal 10/26/2010
Ford Extends Its $9 Billion Credit Line Through 2015
Wall Street Journal 03/15/2012
Wall Street Journal 05/22/2012
Credit for Detroit's Auto Recovery
Wall Street Journal 07/13/2012
Education in Brazil.
09/04/2010
Brazil faces severe challenges in education and skill development.
Grouped Articles
Peterson and Hanushek: The Vital Link of Education and Prosperity
Wall Street Journal 09/11/2013
As Demand for Education Rises in Brazil, For Profit Colleges Fill the Gap
New York Times 06/19/2014
Educational Gaps Limit Brazil's Reach
New York Times 09/04/2010
Brazil's presidential election: Lula's legacy
Economist 10/02/2010
Education in Brazil: No longer bottom of the class
Economist 12/11/2010
Wall Street Journal 06/27/2011
The debt of regional governments in Spain.
07/22/2010
With $200 billion in debt, local governments from Catalonia to Valencia, are facing more spending cuts in 2010. The local governments are looking at raising $57 billion in debt markets in 2010, the highest of any local governments in Europe except Germany.
Grouped Articles
Rajoy Appeals to Catalonia to Stick With Spain
Wall Street Journal 09/23/2013
Spanish Towns Struggle Under Crushing Debts
Wall Street Journal 10/04/2010
Spain: Budget Woes Hit Regional Governments
BusinessWeek 07/22/2010
European Union Plans System for National Debt Crises
New York Times 10/29/2010
The euro crisis: Spreading from Ireland to Iberia
Economist 11/27/2010
Spain to Open Books in Bid to Calm Investors
Wall Street Journal 12/18/2010
George Papandreou's leadership during the Greece crisis- 2010-2011
06/15/2010
Papandreou has provided leadership on the issues facing Greece by walking the talk, with straight talk about the action needed, consulting economic experts in America who are in his inner circle, and working with European leaders for solutions. He has kept his profile modest and set a role model for his ministers and public officials.
Grouped Articles
George Papandreou Finds Balm for Greece Deficit
New York Times 06/15/2010
BusinessWeek 06/24/2010
At Impasse, Greek Leader Vows to Reset Cabinet
New York Times 06/15/2011
Greek Leader Faces Key Confidence Vote
Wall Street Journal 06/21/2011
Wall Street Journal 06/21/2011
New York Times 06/21/2011
Budget Discipline in Japan in 2010
06/11/2010
Spending is to be kept at 71 trillion yen for the next 3 years and the budget balanced in 10 years. This is critical to the Democratic Party government's credibility on spending, deficit and debt issues facing Japan.
Grouped Articles
Abe Set to Proceed With Tax Increase in Japan
Wall Street Journal 09/12/2013
Japanâs Prime Minister Warns That Debt Could Bring a Crisis Like That of Greece
New York Times 06/11/2010
Japan Expects Higher Tax Revenue
Wall Street Journal 01/14/2015
In Budget Plan, Japan Proposes More Spending and Aims to Borrow Less
New York Times 01/14/2015
Japan Vows to Cap Budget at 71 Trillion Yen
Wall Street Journal 07/20/2010
Shaking up Japan: Bold, or plain reckless?
Economist 02/05/2011
The new Liberal-Conservative coalition government in Britain.
05/13/2010
The U.K. has a new coalition government which is focussed on correcting the situation with the budget deficit which imperils Britain's financial rating.
Grouped Articles
Tough Slog to Balancing U.K.’s Budget
Wall Street Journal 12/04/2014
Britain's accidental revolution
Economist 05/13/2010
Economist 05/13/2010
Economist 05/13/2010
U.K. Unveils Severe 'Unavoidable Budget'
Wall Street Journal 06/23/2010
Reforming the state: Radical Britain
Economist 08/14/2010
The debt crisis that Portugal faces, after the crisis in Greece.
04/30/2010
Greece and Portugal are in much riskier shape than Argentina was when it defaulted in 2001, argues Simon Johnson.
Grouped Articles
Portugal Returns to Bond Market
Wall Street Journal 05/08/2013
Idea of Euro Exit Finds Currency in Portugal
Wall Street Journal 05/27/2013
Wall Street Journal 02/11/2014
Greece Defaults on IMF Loan Despite New Push for Bailout Aid
Wall Street Journal 07/01/2015
Greece, Missing I.M.F. Payment, Is Called Effectively in Default
New York Times 06/30/2015
Portugal on Road to Recovery Post-Bailout, But Scars Remain
Wall Street Journal 07/20/2015
Stories of prisoners fighting for Human Rights, Democracy and Good Governance.
02/07/2010
From Burma, Indonesia, China, Vietnam, Haiti and other places where human rights advocates have spent time in prison. The stories all are inspired by the day when Nelson Mandela was released from prison after 27 years, and the smile on his face, after years of repression and confinement.
Grouped Articles
Unable to Visit With Mandela, Obama Honors His Legacy
New York Times 06/29/2013
New York Times 06/29/2013
Nelson Mandela’s Captive Audience: Freedom’s Dominoes
New York Times 02/07/2010
Xia Yeliang: The China Americans Don't See
Wall Street Journal 10/26/2013
Actor's Journey in Mandela's Shoes
Wall Street Journal 11/22/2013
Subianto Haunted by Past Abductions
Wall Street Journal 07/05/2014
China's car market 2010-2015
01/12/2010
China's car market surpassed the size of the American market in 2009. Sales of cars in China's market increased at a breathtaking pace in the last decade, surpassing the U.S. Sales declined in 2015 with the economic slowdown.
Grouped Articles
Auto Sales Keep Humming in China
Wall Street Journal 05/09/2013
Territorial Dispute Continues to Affect Japanese Car Sales in China
Wall Street Journal 09/11/2013
Renault to Focus on Building SUVs in China
Wall Street Journal 12/16/2013
Chinese Car Buyers Should Keep On Motoring
Wall Street Journal 12/26/2013
China Car Sales Driven Lower by Slowing Economy
Wall Street Journal 09/11/2015
China Tops U.S. in Vehicle Sales, Aided By Government Incentives
Wall Street Journal 01/12/2010
The week Kamala Harris became the 2024 Democratic nominee in 48 hours
07/25/2024
The two tumultuous weeks in July 2024 started with a sniper shooting at the former president, followed by the Republican Convention within days. The president's address calling for calm, Trump's 90 RNC address which rambled to veer off course. Second thoughts about Trump and Biden's age and calls by Democrats for Biden to withdraw after the faltering delivery in the debate. Biden has Covid and isolates for a few days. On July 22 around 1.45 pm Biden puts out a letter on X (Twitter) that he is withdrawing and giving his full support to Kamala. Within hours Harris has overwhelming support. The next day morning Harris has secured the delegates needed. By the 24th in 48 hours she has raised $250 million for the campaign and about 100,000 volunteers. A dizzying pace for 48 hours that riveted the attention of the American people and the world.
Grouped Articles
With Speech to Teachers, Harris Waded into a Fiery Education Debate
NYTimes.com 07/25/24
Kamala Harris: A woman of firsts – DW – 07/23/2024
dw.com 07/25/24
‘Capable’ Harris and Biden’s legacy: key takeaways from the president’s address
The Guardian 07/25/24
Biden Says He Will ‘Pass the Torch’ to Harris in Oval Office Address After Ending Campaign
WSJ 07/24/24
Opinion | Kamala Harris Confounds the Republicans
WSJ 07/24/24
President Biden Addresses the Nation
YouTube 07/25/24
The Default option in the Irish banking crisis.
11/23/2010
The option of default or a solution that involves a haircut for bondholders, for Ireland or other euro-countries facing debt crisis.
Grouped Articles
Wall Street Journal 11/23/10
'Contagion' and Other Euro Myths
Wall Street Journal 12/02/10
European banks: The last idealists
Economist 12/11/10
Ireland's Not-So-Grand Bargain Options
Wall Street Journal 02/25/11
Ireland's Bonds Downgraded to Junk
Wall Street Journal 07/13/11
Plan for Greece Favors Creditors
New York Times 07/25/11
Newly created business firms, small business and job creation in the USA in 2009-2011
11/18/2010
The reason why the unemployment rate is so high and why there are so many jobless people.
Grouped Articles
The Next First (and Only) 100 Days
New York Times 12/10/11
Big Banks Cut Back on Loans to Small Business
Wall Street Journal 11/27/15
Few Businesses Sprout, With Even Fewer Jobs
Wall Street Journal 11/18/10
Few Banks Seek Funds for Small Businesses
Wall Street Journal 03/31/11
For Small Businesses, Recession Isn't Over
Wall Street Journal 07/06/11
Job Search Stretches Past a Year for Millions
Wall Street Journal 07/22/11
Google's U.S. federal tax liability of 18%. GE's low tax rate.
10/28/2010
The US tax rate for corporations at 35%, but the $1.5 billion federal tax liability of Google comes to an effective 18% tax rate. GE's consolidated tax rate of 11.6% from 2005 to 2009. This is also true of other large American companies, raising questions of fairness at a time of budget cuts in education, Medicaid and Medicare. Many U.S. companies, such as Apple, also use offshore tax havens to protect profits from taxes.
Grouped Articles
Apple Avoided Taxes on Overseas Billions, Senate Panel Finds
Wall Street Journal 05/21/13
Appleâs Web of Tax Shelters Saved It Billions, Panel Finds
New York Times 05/20/13
Apple CEO Tim Cook, Lawmakers Square Off Over Taxes
Wall Street Journal 05/22/13
Wall Street Journal 05/22/13
Ireland Defends Tax Laws to Critics at Home and Abroad
New York Times 05/21/13
The Corrosive Effect of Apple’s Tax Avoidance
New York Times 05/23/13
Low interest rates and Fed policy in 2010-2012
10/02/2010
Grouped Articles
New York Times 10/16/14
Enough With the Low Interest Rates!
Wall Street Journal 10/02/10
Wall Street Journal 10/25/10
Wall Street Journal 10/26/10
Opinions Are Split on Fed Policy Move
Wall Street Journal 11/01/10
Ben S. Bernanke - What the Fed did and why: supporting the recovery and sustaining price stability
Washington Post 11/04/10
The Bush tax cuts in 2010.
08/05/2010
In the face of rising deficits, and questions about the future solvency of Medicare and Social Security, there are questions about the Bush tax cuts which expire in December 2010 if not renewed. With high unemployment the consensus seems to be to leave the tax cuts in place for a limited period, and have serious conversation about taxes when a new presidential term begins. A Value added Tax has been suggested by Paul Volcker, similar to that in Europe.
Grouped Articles
The Wisdom and Folly of the Bush Tax Cuts
BusinessWeek 08/05/10
New York Times 08/21/10
Bush Tax Cuts: Now That's Rich
New York Times 08/22/10
Why the Rich Donât Need a Tax-Cut Extension
New York Times 09/25/10
Tax-Cut Vote Shows Democratic Divide
Wall Street Journal 12/03/10
New York Times 12/02/10
GE China (General Electric)
07/08/2010
GE's operations in China and the difficulties it is facing in China.
Grouped Articles
China Crackdown Set to Benefit GE
Wall Street Journal 12/29/14
GE's Road In China Is Getting Bumpier
Wall Street Journal 07/08/10
Wall Street Journal 07/27/10
Wall Street Journal 07/26/11
Wall Street Journal 09/06/11
A Waiting Game at Finance Unit
Wall Street Journal 09/06/11
Dysregulation Nation
06/14/2010
Judith Warner's phrase and description for the cultural phenomena facing America in 2010 captures the nature of the problems needing attention.
Grouped Articles
New York Times 06/14/10
Warner Music Nears a Sale to Access
New York Times 05/05/11
After the reforms: Safer, but not yet safe enough
Economist 05/21/11
Reregulation: A dangerous embrace
Economist 05/22/11
Wall Street Journal 08/04/11
Time Warner Reports Double-Digit Revenue Increase, Expects More
New York Times 08/03/11
Canada economic growth and interest rates.
05/27/2010
Canada is increasingly taking its cues from booming demand for commodity exports to China when it sets interest rates.
Grouped Articles
Clouds Over Canada Damp Loonie
Wall Street Journal 07/01/13
Bearish Bets Batter Canada’s Loonie
Wall Street Journal 04/16/15
China Cuts Rates to Halt a Slide in Its Economy
New York Times 05/10/15
Wall Street Journal 06/02/10
Global Trade: Canada Takes Its Cues from China Now
BusinessWeek 05/27/10
Canadian Economy Suffers Setback
Wall Street Journal 04/30/11
Inflation in India : 2009-2014
05/13/2010
The poor monsoon in 2009 was a major factor in the rise of prices paid by consumer and farm workers, which saw arise of 14% annually by mid 2010, and were the highest of 17 countries in the Asia-Pacific region in Bloomberg tracking. The Reserve Bank of India (RBI), India's central bank, is making efforts to control inflation with interest rate increases.
Grouped Articles
How Duvvuri Subbarao Is Steering India's Economy
BusinessWeek 05/13/10
India's Central Bank Surprises Markets With Rate Increase
Wall Street Journal 09/21/13
India's Central Banker Lobbies Fed
Wall Street Journal 10/13/13
Balancing Act for Indiaâs Top Banker
New York Times 11/07/13
Staying Away from Indian Bonds
Wall Street Journal 12/18/13
Setting a Course for India's Inflation Nirvana
Wall Street Journal 01/23/14
Simon Johnson and other experts on the capital shortfall and banking crisis in the U.S.
04/15/2010
Johnson points to irreversible damage from the lack of aggressive action with the large banks from the Obama administration. Johnson pointed to the problems with too big to fail banks. now he and Peter Boone give a lucid explanation on the big picture facing America in relation to the task of aggressive action to resolve the banking problem.
Grouped Articles
Weâre All Still Hostages to the Big Banks
New York Times 08/25/13
Irreversible Damage: Why Little Action on Banking Can Do Great Harm.
New York Times 04/30/10
New Life for 'the Volcker Rule'
Wall Street Journal 05/01/10
BusinessWeek 04/15/10
Jamie Dimon: Americaâs Least-Hated Banker
New York Times 12/01/10
After the reforms: Safer, but not yet safe enough
Economist 05/21/11
Fears that Basel III and European Banking Authority E.U. Stress Tests may not adequately reflect the risks on banks balance sheets.
01/21/2010
The situation after bailout of Irish banks in November 2010 by the EU. The Irish banks had passed European stress tests. Portuguese and Spanish banks may face a similar situation.
Grouped Articles
Wall Street Journal 07/16/11
Europe Fails Another Stress Test
Wall Street Journal 07/16/11
The Battle Over Bank Rules at Basel III
BusinessWeek 05/27/10
Wall Street Journal 09/13/10
Basel Rules Unlikely to Force Capital Raising
Wall Street Journal 09/14/10
Wall Street Journal 09/14/10
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