Every week we provide insight on events as they develop and transpire across America. In these unprecedented times, it’s difficult to grasp the complexity of everything that’s going on. We are not a news agency and make no claims to be experts on the topics discussed. What is absolutely certain is we are investing time to research information with a quest for truth using facts, logic, and some common sense thrown in.
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COVID-19
The spreading of COVID-19 continues with the number of cases and deaths worldwide increasing daily.
Here are the numbers as of August 27th, 2020:
Global Confirmed Cases: 24,266,622
Global Deaths: 827,527
Global Recoveries: 15,839,685
US Confirmed Cases: 5,838,695
US Deaths: 180,020
US Recoveries: 2,084,465
US Active Cases: 3,574,210
Commentary: The past 3 weeks is showing a slight trend downward for deaths attributed to COVID and a fairly significant drop in new cases.
One of the biggest things we can do right now from a preparedness perspective is to take care of ourselves. Exercise, lose weight, stop smoking, and improve immune systems. There are many thousands of people across America right now laying in a hospital bed who thought it wasn’t that big of a deal.
With the year nearing the end of summer let’s hope the “second wave” fails to transpire with Fall approaching.
PROTESTING/RIOTING/CIVIL UNREST
Riots continue in several areas of the country – especially in Portland, OR. Protests are ramping up after the police shooting of a black man in Kenosha, Wisconsin.
- The NBA boycotted several games in response to the Kenosha shooting.
- Kenosha has become a battlefield. Several people have been shot and killed with one incident recorded on video as a man with an AR-variant was chased and attacked. He shot several of his attackers.
- A total of 71 people were arrested during protests over Breonna Taylor’s death in Louisville, Ky.
- Rioters in Portland tried to set city hall on fire Tuesday during another chaotic night that resulted in the arrest of nearly two dozen people.
- A suspected gunman fatally shot himself Wednesday as Minneapolis police were moving in to arrest him for a slaying committed hours earlier, sparking looting in the downtown area. Area residents were blaming the police for the death with many believing police shot the man.
- The majority of professional sports are canceling games as a protest against the shooting in Kenosha.
Commentary: While overall protesting and violent civil unrest have decreased across much of the country there is no doubt the sheer violence and intensity has increased. BLM continues to ramp its rhetoric as well as Antifa. Most major businesses and sports are doing the “politically correct” thing and creating policies in support of BLM. Some businesses are even giving preferential support to minority-owned businesses in an effort to remain off the “targeted” list of BLM and the Left.
We are seeing that most any event perceived as race-based is generating an outburst of protests and rioting. Where this will all go especially with the increase in violence is unknown. I suspect it is not going to suddenly improve.
ECONOMY
The Coronavirus pandemic continues to be directed affecting the economy. Businesses across the nation have closed….and many are still closed. Reopening is happening at different levels and even seen some movie theaters are starting to reopen. Businesses of all sizes are included as manufacturing plants down to small mom & pop shops feel the effect. Some industries have seen a spike in business, while others have been decimated. With the rise of cases, limits on the number of people allowed in the business, and mandated masks – many business are just trying to stay afloat.
- It’s easier to understand gold’s record-breaking move up if you look at it from the other side of the equation. The dollar is now at its all-time low compared to gold. In simple terms, the dollar is losing value and dollar debasement is driving up the price of gold. This isn’t a narrative you don’t typically hear on the mainstream financial networks, but there seems to be a growing awareness that the dollar and the system based on it might be in trouble – even in the mainstream investment world.
- The National Debt is approaching 27 trillion dollars.
- Jobless Claims: The 1.006 million claims was a very modest improvement over last week’s 1.104 million but is the 22nd of the last 23 weeks where over 1 million Americans have filed.
- The stock market continues to hover unrealistically high and counter to economic indicators. This is a positive thing for 401k’s.
- Record GDP Plunge Revised Slightly Higher: US Economy Contracted 31.7% In Q2. The decrease in real GDP reflected decreases in consumer spending, exports, business investment, inventory investment, and housing investment that were partially offset by an increase in government spending. Imports, a subtraction in the calculation of GDP, decreased.
- Federal Reserve chairman Jerome Powell announced a new strategy of average inflation targeting. According to reports Thursday, the central bank formally agreed to the policy to allow inflation to “moderately” run higher than the two-percent target for an undetermined time.
Commentary: The economy continues to be held up by Federal spending, bubble gum, and duct tape. Reopening in areas continue to be a positive force in the economy, however, we are nowhere near the economic activity pre-COVID. The economy and commerce in this country have been changed and the evolution continues. So many industries have disappeared completely. Others have been damaged severely. Businesses have changed the way they conduct their activities due to COVID as well as political correctness.
My hope is that Congress will NOT provide incentives for people to remain out of work. Ingenuity will create solutions where problems lie and many businesses will regain their ability to succeed. Should the Trump administration continue for another 4 years, it is likely that further trade deals and deregulation will have a positive impact on the economy, thus helping a recovery.
POLITICS
Much of the divide that is present in the nation is directly correlated to the divisive political environment currently in existence. Beyond healthy debate or even normal agenda-driven bias, the level of aggressive and purposely damaging action taken by Progressive politicians and groups is at an all-time high.
- House Speaker Nancy Pelosi suggested Thursday that former Vice President Joe Biden cancel his three scheduled debates with President Trump because the commander-in-chief would “belittle” the forum and engage in “skullduggery.”
- Former President Barack Obama on Wednesday praised the Milwaukee Bucks for “standing up for what they believe in” following the team’s decision to boycott their NBA playoff game in response to the police shooting of Jacob Blake in the team’s home state of Wisconsin.
- Latest Fox News poll has Biden winning should it happen now.
- Democratic presidential nominee Joe Biden on Tuesday charged that President Trump is “rooting for more violence, not less” after two people were killed in Kenosha, Wis., amid turmoil following a law enforcement officer wounding 29-year-old Black man Jacob Blake.
Commentary: As usual, Democrats and Republicans remain on opposite ends of the opinion spectrum to best serve this country….and pretty much everything else.
The unpredictability of these times is maddening. It’s like trying to find Waldo while on a roller coaster doing multiple loops at 90mph. It’s an effort in futility. I suspect this will continue for months and it will be months before we realize the true effect all of this will have on our daily lives – and our future.
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Stay safe.
Rourke
……and follow my progress as I work on my American Exit Strategy Project only on Patreon.