1) The minerals called ‘rare earths’, is used in a wide range of products central to the American economy, and therefore is a disaster waiting to happen. Already, voices in China and the Chinese Communist Party are suggesting that supplies of rare earths to America should be curtailed to gain diplomatic and economic leverage. In 2010, China made a similar threat to Japan, then temporarily cutting off supplies over a minor diplomatic dispute. China holds 35 percent of the world’s entire rare earth supply, but has been turbocharging production, and so now accounts for 70 percent of global production. Furthermore, China supplies 80 percent of the U.S.’s rare earth imports. The rare earth minerals are a class of 17 different mineable natural elements, which can be extracted from the earth’s crust. These minerals make up crucial components of many modern technological innovations, from electric cars and solar panels to fighter jets and satellites. The permitting process in the U.S. is ridiculously long, taking up to three decades where Australia and Canada’s only require two years, thus precluding much-needed investment from taking place.

2) Entrepreneur Elon Musk has announced his intention to relocate his business center to Texas. He joins the massive migration of Californians to Texas, with 687,000 California citizens having moved to Texas in the last decade, and in addition, Texas is the number one state for corporate moves. Other major technology companies have also abandon their ‘mother state’, leaving California for Texas. Major companies such as Hewlett Packard Enterprise Co. have left. Toyota moved its North American headquarters, and about 4,000 jobs, from California to Plano Texas in 2017. Musk has also moved some major operations, picking Austin as the site for Tesla’s largest U.S. assembly plant, a $1.1 billion dollar investment that’ll employ at least 5,000 workers.

3) There are suggestions that the FCC has massively overstated the availability of gigabit coverage of internet service in the U.S. The FCC reported that gigabit internet was available to 84% of Americans, but independent numbers show it’s closer to 56% and possibly even less. This discrepancy is a result of the method used by FCC research, by counting all houses as having the gigabit service in an area when only some number of houses actually have the service. The larger issue is limited access to high-speed broadband internet for those households located in rural areas and low-income urban areas.

4) Stock market closings for – 10 DEC 20:
Dow 29,999.26 down by 69.55
Nasdaq 12,405.81 up by 66.86
S&P 500 3,668.10 down by 4.72
10 Year Yield: down at 0.91%
Oil: up at $46.97

Leave a Reply

Your email address will not be published. Required fields are marked *

*

code