23 November 20

1) When Joe Biden takes the presidential oath of office next year, he will need to address the question of his son and brother’s business arrangements with entities of foreign governments. A five-page report, with 65 pages of evidence, confirms the connections between the Biden family and the communist Chinese government, as well as the links between Hunter Biden’s business associates and the Russian government. Bidens’ global web of “consulting” and influence-mongering has created some unsavory question about conflicts of interest. Even if every past, present, or future business arrangement by Hunter and Jim Biden is technically legal, which is still an open question, plenty of difficulties can arise from financial pressure to do the bidding of those adversaries. To maintain public trust in his new administration’s diplomacy, the new president must force his son and brother to divest from many aspects of Biden family business.

2) Earlier this year, Australia was among the first countries to call for an official investigation into the coronavirus origins. China responded angrily which accusations that Australia’s highly irresponsible acts could disrupt international cooperation in fighting the pandemic. In recent months, China has imposed trade tariffs on Australia, targeted Australian journalists, and issued angry missives regarding Australia’s dealings with other regional powers. Chinese diplomats have distributed a document to Australian media listing Beijing’s grievances with Australia. These include unfairly blocking Chinese investment, spreading disinformation about China’s coronavirus response, falsely accusing Beijing of hacking, and engaging in incessant wanton interference in Xinjiang, Taiwan and Hong Kong. Yet while there may be legitimate concerns about China in a number of countries, such as the role of telecoms manufacturer Huawei in 5G networks, Australia has become more hawkish than most, but Australia could look foolish if Biden opens up partnerships with China on climate and pandemic management leaving Australia standing alone.

3) As Congress breaks for Thanksgiving, 12 million Americans may lose their jobless benefits on December 26 unless Congress can agree on a new stimulus deal in the next few weeks. More than half of the 21 million people currently collecting unemployment benefits can be effected. If lawmakers head home for Thanksgiving soon, it is even less likely they will reach a deal before they break for the year in December. As they do, millions of Americans could potentially lose their own residences when the nationwide eviction moratorium also expires at the end of the year. Tens of millions more cannot afford enough food to eat. Additionally, long-term unemployment is on the rise with the share of jobless workers out of work for 27 weeks or more, shot up from 19.1% to 32.5% in October, because there are simply not enough jobs being created to support all of the workers running out of aid before the end of 2020.

4) Stock market closings for – 20 NOV 20:

Dow 29,263.48 down by 219.75
Nasdaq 11,854.97 down by 49.74
S&P 500 3,557.54 down by 24.33

10 Year Yield: down at 0.83%

Oil: up at $42.47