20 January 2021

1) There are growing fears of another stimulus package as the national debt grows. One measure of unemployment suggests Biden’s $1.9 trillion dollar stimulus plan may do more harm than good. The U-6 unemployment rate, a less popular reading than the commonly cited U-3, suggests additional fiscal support could be unnecessary. The gauge (which includes those only partially participating in the labor force) currently is at 11.7%. Five of the past six recessions saw higher readings. The coronavirus pandemic initially pushed the U-6 rate to a record-high of 22.9% in April, but easy monetary conditions and the $2.2 trillion dollar stimulus package brought the rate down in a matter of months. Still, there are serious questions about the long term stability of the world economics as nations struggle to pay off these huge national debts.

2) A new Covid-19 variant has been discovered in Brazil adding to the two newly emerged variants from the United Kingdom and South Africa. Brazil is one of the worst affected countries by the virus, where more people have died of the virus than anywhere else outside the United States. An urgent COVID warning says the worst months are still ahead, and is expected to get more people sicker faster. Infections and deaths are expected to continue increasing.

3) President-elect Joe Biden has an ambitious environmental agenda, with a principle goal of transitioning away from using fossil fuels. There are many questions just how this climate plan could affect the oil and gas industry in America. The new requirements include disclosure of climate risks from public companies, a commitment to end new drilling permits for federal lands, and to eliminate tax subsidies for the oil and gas industry. Tougher methane regulations to give incentives for Americans to buy cars that do not run on gasoline. It’s not just the big oil companies which can be hurt, for there are thousands and thousands of small companies making up the supply chain businesses, as well as the small independent wildcatters who are producing oil. But while oil is slowly recovering with prices above $50 a barrel, it is all in jeopardy if these proposals go into effect. Biden’s proposals could face stiff challenges from Texas officials and the oil and gas industry itself.

4) Stock market closings for – 19 JAN 21:

Dow 30,930.52 up by 116.26
Nasdaq 13,197.18 up by 198.68
S&P 500 3,798.91 up by 30.66

10 Year Yield: down at 1.09%

Oil: up at $53.17

#THECASTPODCAST EP. 16: LANSKY’S CORNER feat. LANSKY (YOUTUBE ED)

THE CAST PODCAST EP #16: LANSKY’S CORNER feat. LANKSY

PFIZER COVID-19 ANECDOTE 95% EFFECTIVE. SEEKS EMERGENCY APPROVAL TO DISTRIBUTE !!!!!!!!!!!!!!

By: Economic & Finance Report

Pfizer has announced their Covid-19 study on a medication they are beta testing has come back from their lab studies; with a 95% effective accuracy rate in trial testing.

Pfizer has been working with BioNTech (German based biotechnology company) on developing a Covid-19 vaccine as fast and accurately as possible. Both companies have indicated they have met those objectives. They are seeking to attain emergency clearance from the United States and European Union, to be able to distribute the vaccine as soon as possible. -SB

Image Credit: UsaNews.com

14 October 2020

1) Cuba’s economic minister urged calm as the government prepares to unify its dual currency system and multiple exchange rates in hopes of improving economic performance. The nation is undergoing a crisis caused by new U.S. sanctions on top of decades-old embargos, the pandemic and its inefficient Soviet-style command economy. The country could not overcome the crisis without unification which included wage, pension and other measures to protect the population. The monetary reform will eliminate the convertible peso while leaving a devalued peso, the officially exchanged rate since the 1959 Revolution is one peso to the dollar. The country would end up with a single currency and exchange rate with the dollar, but it’s unknown what the rate might be or the date devaluation would happen. Economists forecast this will cause triple digit inflation and bankruptcies while at the same time stimulating domestic economic efficiency and exports over imports.
2) Two more arms sales to Taiwan is reported to be moving forward. America is seeking to sell sophisticated military equipment, the MQ-9 drone aircraft and a coastal defensive missile system putting the island nation in a better position to repulse invasion by Red China, who claims Taiwan is a wayward province. China has stated she will reunite the province to the mainland, by force if necessary. Presently, there are as many as seven major weapon systems making their way through the U.S. export process, as the administration ramps up pressure on China. All arm sales to Taiwan must be approved by the Senate.
3) California’s PG&E (Pacific Gas & Electric) company is warning of up coming power outages in Northen California because of increased fire risk. Two dangerous wind events are expected this Wednesday and Thursday and into Friday. High winds pose a fire danger from sparking of power lines into vegetation, thus starting fires in dry areas already ravaged by fires. Power outages are anticipated in 34 California counties. Cutting off the electrical power is presently the only means to ensure against sparking wild fires in windy conditions, and has become standard operation procedure.
4) Stock market closings for – 13 OCT 20:
Dow 28,679.81 unchanged
Nasdaq 11,863.90 unchanged
S&P 500 3,511.93 unchanged
10 Year Yield: down at 0.73%
Oil: up at $40.18

THE CAST PODCAST EP. #13 feat. MIKE SMIFF (Youtube Edition)

MAJOR TECH COMPANIES ARE BETTING ON PODCASTS….

By: Economic & Finance Report

Major technology companies such as Spotify, Apple, BarStool Sports, and Amazon, are racking up their check books in investing in podcast shows and networks.

Amazon is utilizing Audible to attain podcast shows, while Apple is using its Apple TV shows and other Apple products for podcasting viability. BarStools Sports which began as a sporting blog, has utilized its strong sports platform in the podcasting space.

Over 100 million people in the United States listen to podcast shows, one way or another. The number seems to be increasing on rolling average basis according to analysts estimates. The way that traditional radio has been digressing, don’t be surprised as podcasting surpassing the new normal. -SB

_Listen to the #EFRPodcast & #TheCastPodcast shows on the cloud, soundcloud.com/Economic-FinanceReport