TODAY INAUGURATES A NEW PRESIDENT & NEW VICE PRESIDENT……..

By Economic & Finance Report:

President Elect Joe Biden and Vice President Elect Kamala Harris will be sworn in at the capital at approx. 12pm est today, Wednesday, January 20, 2021. It has been reported that they will be sworn in at Capitol Hill outside to a small audience of 2,000 invited only guests (socially distancing) because of Covid-19 protocols.

President Donald Trump has already vacated the White House earlier this morning at 8am est, Wednesday, January 20, 2021. Making a smooth transition for the incoming President (Joe Biden) to occupy the “People’s House”, the historic White House. -SB

Image Credit: Business Insider

CONGRESS FINALLY REACHES $900 BILLION STIMULUS DEAL BEFORE HOLIDAYS!!!!!!!!!!

By: Economic & Finance Report

Eureka!!!!!! Finally a resolution for the stimulus package to be garnered to the American people and American struggling small businesses; in the United States. The stimulus package reached by the Republican & Democrat Senate & House leadership; will have a full vote by the US Senate & House of Reps on Monday, December 21, 2020.

The $900 billion price tag leaves out state aid, that governors and mayors across party lines have indicated they desperately need, to revive their local economies. Local officials will have to figure out ways to attribute their fiscal budget without the aid support being provided by the federal government.

The stimulus deal was reached late Sunday night December 20, 2020 by both Republicans and Democrats. It had been in negotiations for months, as Democrats and Republicans had been jostling for superiority on what should be included for the second wave of stimulus checks to the American people and American small businesses. The package aid was desperately needed because of the collapse of the economy, caused by the coronavirus pandemic. -SB

Image Credit: Forbes.com

U.S. Presidential Election 2020: TOO CLOSE 2 CALL

By: Economic & Finance Report

The USA Presidential Elections 2020 is in a dead heat, the stakes could not be higher. Only a few states are now the determining factor in deciding the next U.S. President, for the next 4 years. Both candidates, President Donald Trump and former Vice President Joe Biden need 270 electoral college votes to become the president of the United States.

There have been a pendulum of states going back and forth for each candidate, and a few “swing states” will be the determining factor on who becomes the next president of the United States of America. Stay Tuned-SB

Image Credit: ABCNews.com

OVER 3 MILLION AMERICANS ARE UNEMPLOYED BECAUSE OF THE CORONAVIRUS PANDEMIC!!!!!!!!!

image: nytimes.com

By: Economic & Finance Report

Over 3.3 million Americans have claimed unemployment benefits because of the coronavirus, the U.S. Labor Dept has indicated this past week. The virus has taken a toll on businesses, income wages and society’s everyday way of living.

These numbers reflect a growing number of Americans who are currently unemployed and are seeking financial relief; because of what the COVID-19 virus has done to their working wages. Many people have insisted that the impact has burdened them into massive financial debt.

It also has to be noted, that the United States has now surpassed all other countries with the most infected individuals who have tested positive for COVID-19. Over 85,000 people in the USA have the coronavirus, as presented by data by John Hopkins University on March 26, 2020 (US infections 85,840). SB

Sources: US Labor Dept; John Hopkins University Covid-19 Data

UBER STOCK TANKED, AFTER IT’S IPO HIT THE MARKETS!!!!!!!!!!!!!!!!

By: Economic & Finance Report

Uber the rideshare tech company, its stock tanked on its first official trading day on the NYSE, Friday, May 10, 2019 will be a day of turmoil on the Uber corporate calendar. It was a horrible trading day for the mammoth ride sharing tech company.

Uber declined close to 8% during the stock market trading day. The stock plummeting so much (in which it did), is the first time any stock has come out the gates on Wall St and lost so much market share. The valuation of Uber was at $76 billion dollars, when analysts had predicted that it would be valued around $90-$100 billion dollars, well that didn’t happen. Not only that, Uber has been bleeding money and the perception is that, Uber won’t actually make any real money until the year 2024, hopefully.

Uber being one of the biggest IPO companies probably since Alibaba, Facebook and a few others. So it to falter as it did was a shocker to some and to others, not so much. Technology companies tend not to fare well in the beginning of their IPO presence. Facebook had a rocky start coming out the gates and other big tech companies before it, have gone through similar revelations.

It’s the test of time that will dictate the longevity of Uber’s existence and if they can navigate their ship in theses rough and turbulent stock market waters. -SB

28 November 2018

1) There are reports that Apple stock holds key to end market slide, that the markets can’t turn around until Apple is going up, because the markets are being driven by the tech stocks, and Apple is the lead technology stock.  In the last two months, Apple stock has lost 25% of its value.

2) While home values have continued rising, the gains have shrunk to their lowest amount in the last two years.

3) Economy tiny houses are being offered in Silicon Valley costing $280,000.  The houses are prefabricated units.

4) GM has spent $10 billion dollars in buying back its stock, but then cut jobs to save $4.5 billion dollars.

5) 27 NOV 18      Stock market closings:

Dow                24,748.73     up      108.49
Nasdaq             7,082.70     up          0.85
S&P 500            2,682.17     up          8.72

10 Year Yield:     down    at    3.06%

Oil:     up    at     $52.02

26 November 2018

1) The government released a report on climate change and the adverse effects to be expected.  The US GPD may decline as much as 10% by 2100. It acknowledge that the US is not the only driving force of global warming, as of now, not a single G20 country is meeting their climate targets.  The costs of climate change could reach hundreds of billions of dollars annually, with agriculture predominate where farms may produce 75% less corn and 25% less soybeans.

2) The Dow may drop another 2,000 points before market selling is done.  The US economic growth could be cut in half this next year over fears of consumer demand declining.

3) A family feud threatens Campbell’s dynasty as soup sales tank, with one cousin complaining to another cousin that he didn’t have any confidence in the company management, which precipitated a feud.  Shareholders vote next Thursday, that will determine if Campbell’s will remain a family dynasty.

4) 23 NOV 18    Stock market closings:     Drop in oil prices causes drop in stock markets.

Dow                         24,285.95         down         178.74
Nasdaq                      6,938.98         down            33.27
S&P 500                     2,632.56         down            17.37

10 Year Yield:      down   at    3.05%

Oil:    down   at    $50.39

The Problems Millennials are Facing

A list of the problems the Millennials and Z-Generation are now facing in their future.

James Lyman BSAE, BSEE, MSSM

The youth of America, the millennials and Z-Generation, are now facing a number of serious problems that are shaping their lives and future, both near and far term.  Here is a short list of the most profound and critical problems they are facing:

1) Obsolescence Technology is growing exponentially, doubling every fifteen years.  Most Americans are failing to advance, that is, most have gone no further than the nineteenth century.  Therefore, more and more Americans are unable to make substantive contributions to society.

2) Technology Displacement Going hand in hand with Obsolescence is displacement by technology.  The replacement of humans by machines and technology, leaving people with minimal to no jobs.  Each passing day, more of America’s youth are not needed, not wanted, not having any real value to society.

3) Diminishing Resources The availability of resources such as natural minerals and resources, water, energy, oil . . . in particular the oil, and negative resources of pollution and trash is a continual source of problems for young Americans, both for shortages in domestic America and world competition to obtain and hold those resources.

4) Increasingly Threatening World With the end of the cold war, many felt that world peace was finally at hand, but increasingly there are threats of war across the world.  The Middle East, China and the Pacific Rim, Russia and the adjacent Eastern European countries, all are tender boxes where armed conflict can erupt. In these modern times, wars are no longer isolated affairs, instead ripples reach out across the world to affect other nations at least economically.

5) Fragile World Economies Much to the consternation of many Americans, young and old, America’s economy is tightly coupled with other country’s economies across the world, friend and foe. And it’s been this way since the start of the twentieth century, having become increasingly more interdependent.  The economies of countries such as Italy, Spain, Greece, Portugal and China are prime examples of countries with fragile economies, where sever economic problems or collapse will have profound impact on many other countries including the United States.

6) Climate Change There is a lot of daily debate about global warming and climate change, much of it revolving around people’s aversions to the high technology world they are trying to live in.  What the scientist are saying in Scientific American and Science News is that yes, there probably is climate change, the extent and effects unknown, and yes human activity may be a factor, but how much is unknown.  As with so many problems, there is a false perception of climate change being a political problem.  It’s a political problem if and only if, the legislative process has significant control over the forces driving the problem.  Climate change is a result of massive over population of a species- and that’s US . . . the 7.5 billion humans now living. The political systems does not have any real control over the most important forcing function of this problem.

7) Government Nonperformance As with any other organization, the larger the organization becomes, the more sluggish and non-responsive it becomes. This very much holds true for governments . . . Federal, state and local. Nonperformance translates into not addressing problems faced by the people. You seldom hear any government people talking about things like technology displacement and obsolescence of people, indeed they are usually very careful to avoid the topics. Yet, these and other subjects are having a very profound effect on the future of most Americans, and the younger they are, the more likely a detrimental impact to their lives.

8) Stability of American Economy Probably the most important and critical factor for the young people of America is how stable the economy remains.  The near collapse of the world’s economies in 2008 shows how susceptible people of all economic strata, are to the stability of economies.  Anytime there are upheavals in the business world, then fissures and holes open up which allows technology to flow into the economy creating obsolete people and their displacement by technology.

There are other lesser problems on this list, but those listed above are most profoundly effecting the greatest number of people, and will most likely aversely impact the future of the millennials and Z-Generation.  While Obsolescence and Technology Displacement are at the top of the list, which they rightly should be, both are interleaved with all the other problems to some extent.  One factor that is greatly hindering any real progress in addressing these problems, is the assumption that all problems are a political problem which can be addressed with the techniques of political activism.  You see that with the global warming problem, where advocates are using the techniques of political activism, such as public education, spots on news stories to cultivate public opinion, countering any challenges in public debate, campaigning for political support and meeting with political leaders to garner their support. All fine and well, but as pointed out in item 6, Climate Change, the principle driving force of the problem is massive over population, and the political process has no real effective control over that.

And this highlights the real problem for millennials and the Z-generation, and that’s the poor education and problem solving skills of so may who are involved with the above list.  Failing to first identify the forces acting on a system shows a near complete lack of real problem solving skills, thus ensuring failure of any attempts to address problems.  And that’s really where the young of America stand today . . . a number of very serious problems which is detrimental to their generation . . . and no one able to really address any of those problems.

4 October 2018

See new posting below, “EFR PODCAST EP. #28: TARIFF WARS”

1) The British prime minister proclaimed that the British people should forget about a graceful exit from the European Union.

2) Amazon announced it is eliminating monthly bonuses and stock awards to help pay for the minimum wage raises previously announced.

3) Wage growth remains sluggish, which is somewhat of a mystery in a tight labor market.  This begs the question why wages are not growing as in any other supply-demand situations.

4) 3 OCT 18    Stock   market   closings:

Dow                           26,828.39     up    54.45
Nasdaq                        8,025.08     up    25.54
S&P 500                       2,925.51     up      2.08

10 Year Yield:     up   at    3.16%

Oil:     $76.22    up    from    $75.18

 

 

LATEST TRADE WARS: INDIA ISSUES RETALIATARY TARIFFS ON USA PRODUCTS……

*image source: Shutterstock*

By: Economic & Finance Report

India has struck back on retaliatary tariffs on USA made products. They issued a petition to the WTO (World Trade Organization) on Thursday, June 14, 2018.

The tariffs are in retaliation of products the USA placed on aluminum and steel approx. a month or so ago.

India tariffs will be placed on certain USA, fruits, vegetables, motorcycle parts and steel/aluminum products. -SB