6 July 2020

1) Newest job report is out with America gaining 4.8 million jobs as people return from the shutdown to work again. This gives an unemployment rate of 11.1%, which is still in the recession category, but is coming down over time. These returning jobs were mostly in the restaurant, hotel and retail sectors. There remains the question of how many restaurant jobs will finally return, with significant numbers of privately own businesses failing financially because of the shutdown.

2) The cornerstone of Ford’s reorganization, its F series Ford pickups, has dropped 22% in sales. Most of these are the F-150 full size pickups, with a new version just recently released. Total Ford sales are down 33.3%, with Ford executives making it clear just how critical the F-150 is to the future of Ford. Before the pandemic crisis set in, Ford had implemented a major restructuring of its operations intent on remaining a strong profitable company, and had expected to pay for this plan in part with the strong sales of the F-150. The F series models have been a part of Ford’s product line since 1948.

3) It’s reported that the developing world loses billions of dollars in money from migrant workers. These migrant workers range from Polish farmhands in the fields of southern France, to Filipino workers on cruise ships in the Caribbean, almost all of them losing their jobs because of the pandemic shutdown. These workers routinely sent cash home, so the third world economy is suffering too. Migrant workers comprise tens of millions of Indians, Filipinos, Mexicans and others from the developing countries, who sent a record $554 billion dollars back home last year. This is more than three times the development aid from foreign governments. Family members depend on this cash to pay for food, fuel and medical care. This drop in money sent home is four times the fall in the 2008 Great Recession.

4) Stock market closings for – 3 JUL 20:

Dow 25,827.36 up 92.39
Nasdaq 10,207.63 up 53.00
S&P 500 3,130.01 up 14.15

10 Year Yield: down at 0.67%

Oil: unchanged $40.32 back home

AFRICAN AMERICANS BENEFIT LEAST ECONOMICALLY FROM THE STOCK MARKET RALLYING.

By: Economic & Finance Report

With the national protests occurring in the United States. There has long been an issue about the income inequality among minorities and investment inequalities among minorities, especially African Americans.

Analytics and data collected from The Federal Reserve indicate that over 60% of white families have stock share holdings while only 30% of black families have stock holdings. Indicated is that only a third of African American families are seeing the benefits from the stock market rally, currently occurring.

The wealth gap between minorities and white families is also very wide. Median white family net worth is $171,000 while African American family median net worth is approx $18,000. These wealth gaps tend to have economical effect on minority and black families as they are not given a fighting chance to improve financially and economically amongst their counterparts. -SB

Source: Yahoo Finance; Federal Reserve Survey Consumer Finances (2016); Image Source: Vox.com

THE FALLACY OF WOMEN’S LIBERATION !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Popular history speaks of political activism having liberated women, when actually it was technology that made them obsolete as women.



*Image Source: https://www.pixcove.com/bushman-hunter-gatherer-indigenous-people-family-domestic-san-africa-man-child-black/ 

By:James Lyman BSAE, BSEE, MSSM

Economic & Finance Report

Popular culture holds that women were liberated from the enslavement the white man, by decades of political activism and diligent campaigning by famous feminist such as Gloria Steinem and woman suffrage leader Susan B. Anthony.  In reality . . . what really liberated women was they were made obsolete by technology and displaced, thereby leaving them free from traditional women roles to pursue new avenues of life.  Now to understand that, it's back to basics-  When the big engineer in the sky designed us, it wasn't for anything even remotely like the world we live in today.  We were designed to be hunter-gathers.  We were designed to live in groups of about a dozen to a few dozen people.  We were designed for a life span of thirty to thirty-five years.  We were designed to tolerate a 50% kill-off of our young, most before age five.  We were designed to tolerate a 10% kill-off of females from birthing problems.  We were designed to be a highly effective . . . not necessary efficient . . . food gathering and reproduction machine.  This design is what allowed us to leave the paradise of the rain forest and move out onto the harsh unforgiving life of the savannahs.

For the 230,000 years our species has existed, it wasn't until about 10,000 years ago that the new technologies of supplemental agriculture and animal herding came into being and began displacing the hunter-gather.  Up until the last couple of hundred years, the woman's role was very important to the survival of humanity, there just wasn't any choice of alternatives, just as there were no alternatives for the role of men.  It wasn't until the mid 1800's that technologies started to appear that replaced many of the drudgery task of keeping a household.  By the turn of the century, appliances such a hot water heaters, washing machines, vacuum cleaners, central heating, pre-processed foods had reduced the time and effort needed by a woman to run a household.  The new medical and food production technologies drastically reduced the kill off of children and women, which in turn caused the reproduction rate to far surpass the death rate.  The principle task of a woman, as a woman, was eliminated almost overnight by technology.  America, and the world, had many more new people than was needed.  The woman, as a woman (the birthing of children), had been made obsolete by technology, and so she was no longer needed for her primary function of sustaining and propagating the species.

Women found themselves with more and more free time.  By the mid twentieth century, a person, male or female, was able to keep house for themselves.  To feed, clean and care for themselves while still holding down a full time job.  Then World War II came, and suddenly American industry was desperate for workers to replace those millions going off to war.  Across the country, North, South, East and West, women flooded into the job market, learning new skills, making good money.  But then the war ended, and like the receding tide, the work force drained of women, as they quickly returned to their homes to start families with the returning men.  And like the tide, they slowly started coming back in again.  Women started returning back to the job market in droves now able, because of technologies, to work full time and yet run a household too.  Birth control technologies mushroomed as people limited the number of children in their families, the need for reproduction no longer needed because the death rate of children was now so very low.

Things might have worked out just fine, except that during this post war period, men were beginning to feel increased technology displacement of their jobs.  Starting in the nineteen-fifties, jobs . . . good well paying jobs, began disappearing.  Slowly at first, then at an ever increasing rate, machines were replacing people, both male and female, until the late nineteen-sixties when the rush of manufacturing to leave America became noticeable to everyone and the Rust Belt began to appear.  The robot machine tools was allowing less developed countries to do manufacturing because they didn't need the highly skilled, highly trained machinist who had been central to American manufacturing.

The newly liberated women found themselves in a foot race not only with their male counterparts, but with the machines who were increasingly taking all those good jobs they wanted.  I witnessed the introduction of the personal computer starting with the MITS Altair 8800 in January 1977, and then just two years later, Electric Pencil, the first word processor program for that first personal computer, was released.  The word processor technology, using personal computers, exploded and in less than ten years wiped the clerk-typist career field right off the map, a career field that had provided about one third the jobs for women.  Jobs that were now gone, leaving women struggling to find something else.  It's really hard to climb up a hill, when the ground keeps crumbling and sliding away!  As fast as women made inroads, those jobs crumbled away to leave them where they were, because now technology displacement wasn't about some poor slob standing on an assembly line- now it's the white collar professionals such as teachers, doctors, lawyers and middle management in corporations who are increasingly being pressed out of jobs.  (Go Google three words- IBM, Watson and Jeopardy)

Now, while the feminist political activist are seeing ‘blood red' over what I've just said, most readers are saying ‘How very interesting . . . but so what?  What's your point?'  The dichotomy of technology displacement is that it's both positive and negative, for the technology displacement of women was what liberated them, but then in turn held them back in the job field as both men and women were being replaced by technology.  That's why it's so difficult to say a technology is bad and therefore should be restricted, not to mention that ill effects are usually known only after a technology has spread into society.  It is very hard to predict the impact of a technology before it is released into the market place . . . if not down right impossible.

**Bottom line-You can't stop or control technology displacement.You can only strive to advance and stay ahead of it . . . and even then there's no guarantees!

HAPPY MEMORIAL DAY TO THOSE WHO RISK & RISKED THEIR LIVES 4 US…ALL (USA)

By: Economic & Finance Report

Special day in the United States. Memorial Day is a day of rememberence, recognition and reflection, for those who have sacrificed and who continue to sacrifice their service and lives for our country’s sovereignty, liberty, and unconditional freedoms…

I salute and commend our servicemen and servicewomen, who tend to the challenges daily, that face this great nation….

*Salute & God’s Many Blessings*… Happy Memorial Day -SB

HYUNDAI WILL BE SELLING ITS LOGISTICS UNIT!!!!!!!!!

 

Hyundai motors

By: Economic & Finance Report

Hyundai  the global automaker will be selling off its logistical unit. The company is sellig a stake actually of about 13%, from their logical unit. The company is selling the unit because of a new law that was established in South Korea last year (2014), about controlling families and the company boards having conflict of interest in running day to day operations and regulating company governance.

The family and the company executive body, maybe using the sale as a maneuvering role by the Hyundai family to attain a larger controlling interest in their Hyundai Mobis franchise.

It is also speculated that the Hyundai family is building a 571 meter tower in South Korea which would then make it the tallest building structure in South Korea…

-SB

TRANSFERING OF PERSONAL WEALTH DOWN FAMILY LINEAGES… WILL SOON GET WEALTHIER….

money

By: Economic & Finance Report

It has been been indicated that wealthy individual will be passing down their wealth to their respective family members within the next decade… The transfer of wealth to family members is nothing new, but the extent that it will be expanded is new.

Within the next few decades, transferring of wealth will be undeniable. Analyst estimate some 6-8 trillion dollars will be inherited by the younger generation at some point…. 

Now that’s not cheap by any means…

-SB