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C-SPAN video on authors Morone and Blumenthal interviewed for book on healthcare "Whiplash," about failure of Obama Affordable Care Act.

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David Sacks role in holding off AI regulation 2026- presidential executive order for AI regulation put on ice.

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Samsung stock price up 144% Intel up 255% in 5 months of 2026, as the S&P makes eight weeks of consecutive gains May 23 2026. Companies in the S&P 500 trade at 21 times their expected earnings over the next 12 months, the 10 year average is about 19 times their expected earnings. The war in Iran, the war in Ukraine, and the massive misallocation of investment to AI are risks for the US economy, yet the US stock market continues to be robust.

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For the US to do a economic bailout of IRGC Iran now would be a betrayal of the US interest, and of the Iranian people who protested, says WSJ. This strongly worded WSJ editorial from the WSJ Editorial Board says Iran entered 2026 with an economic crisis, then a political crisis with widespread protests and suppression by the IRGC, leading to the Iran war to take out nuclear sites intending to produce nuclear weapons. The US air strikes destroyed Iran's military industrial complex. For the US to do a economic bailout of Iran now, when this is the only time with the naval blockade that Iran can be asked to remove all nuclear materials to a third country, would be a serious mistake. It says the only reason would be close to the midterms and high gas prices. Yet says WSJ letting Iran have its way would mean DJT could lose standing with the American public and see this in the midterms. The US naval blockade should not be lifted until Iran not by words but by actions sends out all the nuclear material out of the country, says WSJ. Lifting the naval blockade for 60 days of talks putting off the nuclear issue is the opposite of what the US has insisted on from the beginning- the nuclear issue is the only issue and it comes first is the US position. The mediation by Turkey and Pakistan, Qatar, has done just the opposite, and in this sense it has failed, according to this view in the WSJ. ...

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Saudi Aramco raised $26 billion in 2019 IPO compared to SpaceX to raise $80 billion in 2026.

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The Musk View - the Open AI lawsuit case against Sam Altman was about looting a charity by the founders. Basically Musk is saying he gave OpenAI $38 million and became one of its founders because of its non-profit business, not because it was afor profit business which would have raised many questions about the risks of for profits doing the wrong things with AI just for profit. Then Sam Altman breaks the promise of staying non-profit for his personal for profit gain, turns it into a for profit without answering any of the questions raised about the dangers of AI without regulatory safeguards into something worse than social media apps that spread fake news endangering democracies, and endangering education of a young generation, mental health risks for girls and children. Competition with China- in China much of it is controlled by the state and the state imposed limits on social media, to protect China's children and young people's educational needs. Tim Higgins says Musk lost but proved his point anyway on X and in the media so much so that speakers at commencements in American universities are being regularly booed  when they bring up AI.  Public perceptions have still not been shaped by the real issue - the massive misallocation of funds, the dubious propositions, the lack of normal financial scrutiny for return on investment that is supposed to happen in well run financial markets, ( is it or is it not a market system in the US as oligopolies are not free market systems), the failure to prove that the investments are viable by a long shot. Banks and capital markets are distorted in lending trillions of dollars to AI companies that cannot justify the investments on financial grounds of return in investment. Returns to the Nation and the American people, as well as financial returns are far better in rebuilding the  broken down infrastructure that America needs rebuilt, in investing in the industries that create jobs and strengthen competing with China and EU. How can the huge misallocation to AI of trillions of dollars, putting a burden on utilities to supply electricity for AI, and the distortion in capital markets to direct that money to infrastructure building and industrial renewal, be corrected? WSJ reports that there is a huge skeptical public on this issue. It is shown in Pew Research and Pew has not asked the question about alternative investments that are being starved of capital in what America desperately needs for reindustrialization and job creation, income creation, competition with China and the EU.   ...

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Pew Research 2026 shows Americans more optimistic about use of AI for medicine, healthcare, and for data analysis, and worry about loss of creative thinking and meaningful relationships. Nowhere does Pew ask the real question to the public- "Do you support the diversion of trillions of dollars that would rebuild America's broken infrastructure built in the 1930's and 1960's, and the reindustrialization of America that creates millions of jobs, do you support the diversion of these trillions of dollars that creates these jobs and a better quality of life for Americans, divert it to hyperscale investments of trillions in AI technologies?" Already the majority of Americans simply asked the question about AI in general are opposed. When this question is put about the waste of trillions of dollars desperately needed for quality of life and standards of living, an overwhelming majority of Americans regardless of politics, class and gender are likely to say NO. ...

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DJT and Xi of China agree that Hormuz Straits should not be controlled by Iran, and no tolls for passage through Hormuz on ships to be paid to Iran. Thedse are points of agreement with China at the summit between Xi and DJT in Beijing  May 14 2026. It is certain that Xi of China is also for no proliferation of nuclear weapons in the Middle East. China has to manage relations in the Middle East by considering the Arab  states of North Africa with whom it has good relations and their point of view- these countries are- Egypt, Moroccco, Tunisia, Algeria, UAE, Kuwait, Saudi Arabia. China gets its oil from both Iran and these Arab states. In a larger sense both the US and China are looking for alternative sources of oil after this episode of conflict in the Middle East one of a long series of events since the 1970's for 5 decades.  China and the US, India, EU are looking at this episode as a point from where a new renewed effort is being launched to replace fossil with renewable energy, be able to generate more GNP with fewer oil and energy resources. ...

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West Bengal gets a new start after 50 years of mismanagement, corruption and breakdown of law and order, and economic failures, with a new BJP Modi led administration. The speed of the changes are simply astonishing as a state of close to 100 million people -where industrialization never took off as it has in other states, and rural poverty exists in ways thought to belong to the colonial days under the British- gets an administration at the federal level under Modi committed to industrialization, modernization of the economy, on the same rapid scale as that launched in the rest of eastern India. This is a territory half the size of the European Union, once called the Bengal Presidency under the British Empire, comprised of states of Bihar, Orissa, West Bengal, Assam, and Andhra Pradesh, a region where the Ganges and Brahmaputra rivers from the mighty Himalayas flow into the sea. It is a low moment for India similar to the period after the Proleterian Cultural Revolution of Mao in China by 1970 and the few remaining leaders under premier Chou-en-lai making a resolute effort under Deng Xiaoping to make a new effort to modernize and industrialize China working with the US and the European Union. That effort went through the initial phase to 1990 to familiarize Communist China with the US and European market systems, and a new phase to 2010 by which time most of these goals had been achieved. India is poised to make that scale of change today over the next two decades as it is already familiarized with the US and European market systems and its net step is in technological advancement and rapid industrialization at scale something that alone can meet the aspirations of the South Asian region. ...

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Uttar Pradesh Chief Minister Adityanath on the changes in the economy for modernization and clean governance in India's largest state.

"Our government neither fears the mafia nor bows to vested interests. Every policy, reform, and decision is guided by one principle: The welfare and empowerment of our citizens."

"Our vision is clear: Bring jobs to people, not people to jobs. Migration must be a choice, not a compulsion. Every citizen of UP deserves the opportunity to build a future in their own homeland. With the largest population in the country, UP’s greatest strength lies in its youth. In a world witnessing economic shifts, technological change, and global uncertainties, this demographic strength becomes a powerful asset."

 

 

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Powell to stay on at the Fed as Governor of the US Federal Reserve.

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WSJ  Mark Halperin Interview with Scott Bessent who manages the US Economy for president DJT. Tackling cost of living, tackling wage rise for lower income Americans, managing trade relations for a level playing field, trade negotiations with China, business agreements with other trading nations, are all part of the work done by Scott Bessent. At an important juncture in American history Scott Bessent has a lot to handle requiring courage and wisdom to put America back on the path to reindustrialization and modernization. At crucial moments it is Bessent's wisdom and instincts for markets and the economy that guide the president.

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"Cancel Culture"- how Democrats and Republicans Conservatives and Liberals see the shaming of people for their views on social media- it is having accountability for some, and seen as censorship or punishment by others. Pew Researchers show the views of different people by age, gender, political affiliation, on the idea of "cancel culture." Some say does it even help doing this on a platform like social media as it tends to exaggerate and is rarely helpful to educate people and create real conversations to increase knowledge. When people are being shamed for racism or sexism, there is little idea of getting people to change or for patient forgiveness, or educating on why certain behaviours are wrong. Yale University's 58 page document on where it went wrong on "holistic admissions" and "cancel culture," is an example of how "cancel culture" when adopted inadvertently at universities and colleges across the Nation can be misguided and not result in positive actions. In the process can this denigrate the achievements of western civilization through the Renaissance of ideas, the awakening of knowledge in Europe in the 17th and 18th centuries, the Enlightenment, and the Scientific Revolution that resulted from this. Followed by the Industrial Revolution unique in Europe and the US that created the Modern World and the standards of living, of literacy, education and healthcare, and transportation we know today. This is the question Yale and other universities are asking today in 2026. ...

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Yale 58 page look at America today and the harm happening to western civilization's achievements. Yale's 58 page report on harm done by "cancel culture," "holistic admissions," and "political bias," and a general tendency found- especially in Democrats- to object to anything that refers to "western civilization" or the founding fathers of America, and the foundations of western civilization in Christianity, the Renaissance, and the Scientific Revolution. Major universities are now pursuing academic activities in western civilization and its influences, understanding its value and significance for America. A quiet transformation is already taking place, says The Washington Post. 

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US Naval Blockade of Iran to include taking all Iran sanctioned ships in oceans of the world, says Gen. Caine, chairman of the US Joint Chiefs of Staff. Caine says-The U.S. "will actively pursue any Iranian-flagged vessel or any vessel attempting to provide material support to Iran. This includes dark fleet vessels carrying Iranian oil. As most of you know, dark fleet vessels are those illicit or illegal ships evading international regulations, sanctions or insurance requirements.” It will also include ships carrying war supplies. Most of Iran's 1.6 million barrels a day of exports goes to smal independent refineries on the eastern coast of China, which are known as "teapot" refineries.

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There are about the same number of borrowers 3.6 million instead of 3.4 million yet over 10 years Parent Plus Loans have grown by 61% or $44 billion to a whopping $115 billion burdening parents and students. Yet no one mentions that it is the colleges that are causing much of this increase with their failure to control costs. The government is now stepping in and it is up to parents to do their homework on school value so that this overburdening with debt that colleges take for granted becomes a thing of the past. If colleges cannot control costs they should feel public dissatisfaction and be ruled out. Colleges and Universities act as if they are not in a market system economy where costs cannot be simply passed on, costs have to be managed or consumers of a service will turn down that product.

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Edward Johnson and daughter Abby Johnson- Fidelity Investments succession turmoil and Abby Johnson emerging as CEO is covered in a new book- House of Fidelity by Justin Baer, Deputy Markets Editor WSJ. CEO Edward Johnson (Ned) failed to come up with a succession plan and executives under him were planning to sell the company to Chase or another bank. Ned had talked to Chase's Dimon in 2005 and said he was not interested in selling the company founded by his father. Yet this is what executives under Ned, Reynolds had in mind, who did not have confidence in Abby Johnson's leadership. Fidelity Investments has recovered from poor performance in that period and manages the pension plans of employers in the US, being the largest in this business. In 2026 Fidelity manages life savings of 20% of American adults and 50% of these customers signed up in last 5 years, says WSJ. After a period in her performance in the mutual funds business which was not great Abby was listed for demotion by executives under her father, who would sent her to run the philanthropy part of the business. It shows how awoman now 64 years struggled through this period and took the bold step of defying her father through control of 41% of the stock of the company to gain control of the company- a step that led to her father relenting and letting Abby run the company. It is a tale of how in such situations even the most favored can be put at a disadvantage by perceptions - in this case by Reynolds of Abby's leadership and ability- and need to act swiftly and decisively after impressions have been formed that lead to an outcome that doesn't need to occur. Her father Ned even though he in his younger period was a good stock picker, failed in two ways. By not planning a clear succession and lacking confidence in his daughter to overcome temporary obstacles. ...

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US stock markets rebound during US naval blockade of Iran April 15 2026.

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US stock markets rebound by April 15 2026 during naval blockade of Iran.