1) A railroad link between Alaska and Canada has been a dream for generations, because such a rail link would reduce Alaska’s costs for goods and services. It would also give Canada’s land locked oil-sands access to ports in Alaska, therefore making for more domestic oil reserves, but such a railroad line faces numerous steep challenges. President Donald Trump has endorsed such a proposal, but several regulatory agencies in both America and Canada must first approve such an undertaking before the first shovel full of dirt can be moved, and this is expected to take years to get permits. The Alaska-Alberta railway Development Corporation (A2A Rail) project would be privately funded costing about $17 billion dollars and would run about 1,600 miles.
2) The plague of wild fires continues in California with several new fires in Northen California consuming thousands of acres a day. The fires are consuming vineyards and destroying the wine business, including grape vineyards that have produced for over a hundred years. The heat wave continues to bring dry air into the conflagration, thus drying out vegetation to make ideal fuel for fires, while strong winds are fanning and spreading the flames. Fires are around the San Francisco area, the Napa-Sonoma wine region and Shasta County which are consuming land at a prodigious rate. Two major fires are the Zogg Fire, which has burned through 15,000 acres and the Glass Fire burning through 11,000 acres. The damage is being created so fast that estimates of dollar losses can not be reliably made.
3) The Congress continues to struggle with a second stimulus bill, the Democrats looking to score at the polls if passed before the election. The big question and holdup is the personal stimulus check to individuals and how much it will be this time. It now appears that $1,200 will be the maximum for individuals, but this time there will be restrictions which will lower the amount for many people based on how much their income is. After nearly two months of relative inactivity, House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have agreed to resume negotiations.
4) Stock market closings for – 28 SEP 20:
Dow 27,584.06 up 410.10 Nasdaq 11,117.52 up 203.96 S&P 500 3,351.60 up 53.14 %
1) President Trump is slipping in the polls, and this may pose a risk to the markets. Even though the wild swings of the markets have subsided and then surged upwards, with the Democrat Joe Biden gaining in the polls, there is concerns that the markets will take a down turn as Biden becomes stronger. The President is facing criticism over his handling of the coronavirus pandemic and the protest from the killing of George Floyd by the police. A victory by Joe Biden and a Democratic sweep are considered more ‘market unfriendly’ outcomes. Taxes are one major area of contrast between the candidates, with taxes a major concern for American businesses. These fears are fueled by the Dow sliding downwards for the first time this month as the rally pauses.
2) Borrowing by the British government to pay for the coronavirus shutdown is soaring to levels not seen since World War II. This is on top of the financial problems from Brexit with Britain’s debt jumping five-fold to a 300 billion pound deficit ($380 billion dollars) . This could leave Britain with a 2.2 trillion pound debt and the need to raise taxes with an impact on economic growth. Britain is funding this expenditure with sales of bonds, but have fears of a Greece style loss of confidence among investors. The government is hoping for a fast recovery after restrictions are lifted, allowing the debt to quickly be paid down.
3) There are fears that the U.S. dollar is entering a bear market so may no longer be the safe haven for investors. This bear market could go for five to ten years. This would occur if the global economy really is bottoming out and thereby rebound again, while U.S. interest rates are at zero, with potential growth lower than the merging markets. The U.S. dollar is depreciating against many international peer currencies these last few days.
4) Stock market closings for – 9 JUN 20:
Dow 27,272.30 down 300.14 Nasdaq 9,953.75 up 29.01 S&P 500 3,207.18 down 25.21
3 expert analysts predict a Trump victory tonight for the 2016 Presidential Election is under way.
The first comes from Political Science Director @ Stony Brook University (SUNY) Dr. Helmut Norpoth. I interviewed Dr. Norpoth ( who has been on Fox News) for the EFR Podcast. I interviewed him on Nov. 7, 2016 (Monday), so he could give insight to our listenership, about the elections.
He indicated that he was sticking to his model that has predicted the last 5 elections correctly; and that Trump will become victorious. Dr. Norpoth has predicted the last 5 presidential elections correctly, we will see if tonight will be a 6th.
Sidenote: The interview we did with Dr. Norpoth, will be posted on this site and Souncloud later this evening.
The other professor who has had 30 years of predicting presidential elections correctly is Professor Allan Lichtman of American University. He has been on various media publications (CBS, The Hill, such as that Trump will prevail victorious and he has stood by this prediction till this day; though many media outlets have since indicated he has doubled down on this prediction.
Lastly the third presidential prediction analyst is writer David Lauter, the LA Times Washington Bureau Chief. His model from the USC/LA Times “DayBreak” Tracking Poll has Donald Trump winning tonight’s election by 2%-2.5%, approx 46.8%-43.6% Trump over Clinton by tonight’s end. He has been polling since the summer and has indicated that his model will forge a Trump win and is anticipating what the results will conclude.
One thing is for sure tonight, we either will have the first ever woman president of the United States, or the first political outsider who has never ran in politics and happens to be a real estate mogul/tycoon.
Tonight by 12am midnight or before then we shall see. -SB
Part 2 of the interview with former Ambassador to Nigeria, Ambassador John Campbell. Discussing more in depth on the political, economic, financial situations in Nigeria and South Africa. As well as sending a keen and positive message to Millennials all over the world about education and success.