Commentary By Art Cyr

News regarding Europe continues to be preoccupied with the war in Ukraine and the latest surprises from Washington, but a lot of other developments are present. Among the most important is the positive effective leadership role of Germany.

South Korea’s beleaguered President Yoon Suk-yeol has now formally been charged with insurrection and will stand trial. Yoon remains in office though formal duties have been suspended. He was arrested December 19, though his salary continues and he received a planned raise.

“Let a smile be your umbrella … a smile will always pay.” That is from a tune which became very popular through a 1957 recording by singer Bing Crosby.

By custom and habit, this writer regularly – though not always – devotes a column relatively early in the New Year to positive and encouraging economic, political, social and other trends in our world.

There is continuing economic growth and related positive news. Above all, inflation is declining toward the established Federal Reserve target of two per cent.

Fed Chairman Jerome Powell and colleagues at the Federal Reserve board of the United States have therefore cut interest rates by fully one-half percent. Interest rates are going down, reflecting the new concern with unemployment.

Bilal al-Sudani is not exactly a household name, which is all the more reason to highlight the fact that this dangerous terrorist leader has been removed. On January 26, U.S. military troops killed eleven members of the Islamic State, including him.

“We must formulate and put forward for other nations a much more positive and constructive picture … than we have put forward in the past.” This is from the famous “Long Telegram” sent from Moscow to Washington by diplomat George F. Kennan in early 1946. This brutal invasion of western Ukraine by Russia provides undeniable reminder that the world is difficult and dangerous, including old-fashioned military aggression.

The Federal Reserve Board of Governors has finally raised interest rates. On March 16, the central bank announced interest on reserve funds would be .4 percent. Bank currency transactions will keep interest rates in a range between .25 and .5 percent.

Further, officials indicated that several more interest rate increases would be coming down the pike this year, perhaps a total of six.

Last month, Queen Elizabeth of the United Kingdom celebrated her seventieth year on the throne. She is the first monarch of the nation to serve this long. For the rest of the year, there will be ceremonies marking this important anniversary in Britain, the Commonwealth and elsewhere around the world.

The Afghanistan aftermath drama is underway, featured center stage in the always-intense theater known as the United States Congress. Generals Mark Milley and Kenneth McKenzie, respectively Chairman of the Joint Chiefs of Staff and Commander of the U.S. Central Command, testified before Congress on September 28.