SENATOR KAMALA HARRIS CHOSEN AS JOE BIDEN’S VP CANDIDATE!!!!!!!!

By: Economic & Finance Report

Former Vice President Joe Biden has chosen California Senator Kamala Harris as his Vice Presidential candidate. Senator Harris was a presidential candidate during the 2020 Democratic primaries but fell short in clinching the nomination, which eventually went to VP Joe Biden.

Senator Harris will be the first woman of color on a major presidential ticket in US history. She will be the third woman on a major presidential ticket in US history. Ms. Harris is of Indian and Jamaican decent. Her mother is Indian and her father is from Jamaica.

Before becoming a VP prospect, she is currently one of the two senators representing California in the US Senate; prior to that Ms. Harris was California’s AG, and early on in the beginnings of her political career; she was San Francisco California’s AG. Senator Harris is currently married with two step children. -SB

Image Credit: www.wikipedia.org

11 August 2020

1) Both Japan and China are building up their military forces for possible future contest over Pacific islands. This is another sign of China’s increasing contentious relations with neighbors, in particular Japan over disputes of several islands in the East China Sea. This is necessitating the buildup of military forces to approach, capture and defend islands. So this means a build up of Marine forces, which both countries are in the process of doing. This includes amphibious armored vehicles and self propelled artillery. U.S. intelligence consider the Chinese Marines to be fully amphibious and able to use combined arms tactics and multiple avenues of approach. This includes building a blue water navy with well over 300 vessels. In response, Japan is starting up its first Marine unit since World War II, modeled after the U.S. Marine Corps, to defend its southern islands. This buildup means massive expansions which neither country’s economies are able to tolerate with the worsening world economy.

2) Boeing aircraft manufacture’s troubles continue to get worst with the loss 737 MAX orders now over 400 and stymied shipments of its 787 Dreamliner because of the world pandemic. Last month, Boeing delivered just four jetliners while also booking zero new orders. Their total stockpile of orders was 4,496 aircraft at the end of July, which is down 1.2% from June. There is the risk that Boeing will have to halt 787 production to preserve cash. Most airline companies have grounded a significant portion of their fleets and are operating only a fraction of their pre-pandemic schedules.

3) Instacart, the young food delivery service, is partnering with Walmart, Amazon’s biggest competitor, to bring Walmart one day delivery service. This will make thousands of items, from groceries to home decor and improvement, personal care and electronics go from Walmart stores to customers’ doors as fast as an hour. This is another ratchetting up of the retail business, when many big name retailers are floundering and some going under. A fundamental change in the way Americans are buying things for their everyday lives is occurring.

4) Stock market closings for – 11 AUG 20:

Dow 27,686.91 down 104.53
Nasdaq 10,782.82 down 185.53
S&P 500 3,333.69 down 26.78

10 Year Yield: up at 0.66%

Oil: down at $41.66