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Donald Trump’s Dream for America: Would it Become an Economic Nightmare or Paradise?

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Donald Trump’s Dream for America: Would it Become an Economic Nightmare?

No one can say that Donald Trump is not vocal about his vision for America.  Not only is he outspoken in public appearances, his website—donaldjtrump.com—contains multiple articles under the “positions” tab which reflect his unique worldview. 

If, however, Trump were allowed to live out his vision, what would the real-world results be?

Trump’s Self-Professed Views on Immigration (Displayed Prominently on His Website)
  • Immigration laws should protect workers.
  • The current policy protects wealthy businessmen over the average American.
  • Mexican immigrants bring crime into the country and steal jobs from honest Americans.
  • Substantial sums of money have been stolen by illegal aliens through public programs. (Trump suggests that footing the bill for the wall separating the U.S. and Mexico would be an appropriate repayment of these misappropriated funds).

What Trump Thinks His Immigration Policy Will Do

Trump supports policies which are aimed at deporting illegal aliens and requiring businesses to hire Americans first.  He says that his aim is to put much-needed jobs back in the hands of poor and struggling U.S. citizens.

What His Policies Will Actually Do

For better or for worse, certain industries rely heavily on immigrant labor.  Agriculture, in particular, would suffer, and food prices could skyrocket without immigrant labor.  Mr. Trump, I’m sure can negotiate with other countries on his immigration policy, and he certainly has the best in mind for Americans. This was evident when we stated “Mexico is killing us” and we’re losing in the labor market. His goal is to employ more Americans by removing illegals from the country that are stealing American job opportunities, but the way he goes about doing that is a fine line. 

Even if Donald Compromises, just enforcing immigration law as it stands would be prohibitively costly. The American Action Forum estimates federal government costs of up to $600 billion to implement the law, accompanied by 11 million lost workers and a reduction of $1.6 trillion to the real GDP.  They also estimate the time frame involved to be 20 years.

Trump plans on building a wall between the US and Mexican border. The costs to implement this are extreme. As a contrast, the Berlin wall cost $25 million dollars or $200 million in today’s money. It was only 96 miles long.

The wall Trump wants to build is 2000 miles long. This sets the cost right around 2.4 Billion dollars. 

If he doesn’t want the American tax payer to fund this, he will need to put on his negotiating boots after former Mexican President Vicente Fox stated “I’m not paying for the f*&^ing wall!”

Clearly, immigration policy is not a simple task Mr. Trump has to take on.

Speaking of Foreign Policy, Donald Trump Feels that China Has Been Walking All Over America

Donald Trump makes it no secret that he knows that China manipulates its currency.  He also worries that China will use America’s debt to blackmail her.  He feels that it is time that China be forced to renegotiate its trade with America.

What Trump Thinks His Policies in Reaction to China Will Do

  • Bring jobs back onshore by lowering the American corporate interest rate to 15%–which is lower than China’s current rate—and imposing a 45% tariff on Chinese imports.
  • Eliminate the possibility of blackmail by reducing America’s debt and the deficit.
  • Bring China to heel by making a show of deploying armed forces in Asia.

What Trump’s Policies Will Actually Do

Those tariffs are likely to be passed straight on to the American consumer.  Furthermore, an analysis done by Moody’s Analytics for the Washington Post suggests that China would not be the only one to suffer.  Their economy would be wounded, but so would the United States’ economy.

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Donald’s Position on Taxes

Mr. Trump believes that as far as taxes go, less is more.  His plan involves no taxes at all below a certain cut-off: $25,000 yearly-income singly or $50,000 yearly-income jointly.  It would also cap corporate taxes at 15% of the business’s income.

What Trump Believes His Policy Will Do

He believes that it would seriously grow the economy, and for once the man may be right.  The Tax Foundation predicts that the tax cuts would lead to 29% growth in capital stock, 5.3 million jobs, 6.5% higher wages and an 11% higher GDP.

Donald Trump on Healthcare:

On his website, Donald Trump’s very first healthcare item is NO MORE OBAMACARE.  He also feels that citizens should be able to purchase healthcare across state lines.  His reasoning is that it will lead to better market competition between plans and companies.

Along the same lines, he wishes to make it legal to buy medication from overseas.

What Trump Believes His Plan Will Do

Increase competition between providers—possibly lowering rates and providing better service in the process.

What His Plan Will Actually Do

The 11.3 million people that HHS said were signed up for Obamacare as of January 2016 will lose their coverage. Then they will be able to seek competitive rates in the free market.

The Return of the American Dream—or a Nightmare Waiting to Happen?

It cannot be argued that Donald Trump is a highly colorful individual.  His speech is blunt, and he regularly airs sentiments that shock and appall both the rest of the world and a significant portion of Americans. However, there’s a large portion of Americans that can relate to this and his position in the polls against Hillary right now are competitive.

Nevertheless, his bid for the presidency has become a very real thing.  The time is coming soon when U.S. citizens will have to decide what kind of future they want—and what sort of person they want representing them to the rest of the world.

 

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Las Vegas Sands Once Again Recognized as World Leader for Climate Change

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Las Vegas Sands Once Again Recognized as World Leader for Climate Change
Image via Shutterstock

Las Vegas Sands has again been recognized by CDP, the international nonprofit environmental disclosure platform, on the Climate Change A List. This is the company’s fifth year in a row to attain a leadership position for Climate Change, a distinction shared by only 2% of disclosing companies.

“The CDP provides a comprehensive framework that continues to inspire us to become leaders in our industry and provide guidance for strategic direction,” Katarina Tesarova, senior vice president of global sustainability at Las Vegas Sands, said. “Among the thousands of companies that were scored this year, Sands is one of a very small number from around the world to make the A List. We’re proud to be recognized, and we will continue to work towards additional reduction of our environmental impact.”

Through Sands ECO360, the company’s award-winning global sustainability program, Sands has reached several environmental milestones, all contributing to its placement on the Climate A List. The iconic ArtScience Museum at Marina Bay Sands in Singapore is the first Asia-Pacific region museum to achieve LEED (Leadership in Energy and Environmental Design) certification, and The Parisian Macao achieved LEED Silver certification for newly constructed buildings – the first building in Macao to receive this distinction. Additionally, the implementation of 38 energy-efficient ECOTracker projects are expected save more than 48 million kilowatt hours of electricity every year, through LED lighting upgrades, energy savings campaigns focused on consuming less electricity and more.

Sands has participated in the CDP environmental disclosure platform since 2012, starting first with reporting on climate change initiatives. Achievement of the Climate Change A List highlights the company’s work towards cutting emissions, mitigating climate risks and building integrated resorts responsibly.

The company has also retained its leadership in corporate sustainability with its most recent recognitions on the Dow Jones Sustainability Indices (DJSI) and America’s Best Employers by Forbes.

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Finance

Dow Jones Industrial Average Breaks 29,000 For The First Time in History

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Screenshot of Dow Jones Industrial chart taken January 15, 2020.
By ELAINE KURTENBACH, AP Business Writer

Slight gains send Dow Jones Industrial Average above 29,000!

The Dow Jones Industrial Average closed above 29,000 points for the first time and the S&P 500 index hit its second record high in three days Wednesday.

The milestones came on a day when the market traded in a narrow range as investors weighed the latest batch of corporate earnings reports and the widely anticipated signing of an initial trade deal between the U.S. and China.

President Donald Trump and China’s chief negotiator, Liu He, signed the “Phase 1″ deal before a group of corporate executives and reporters at the White House. The pact eases some sanctions on China. In return, Beijing has agreed to step up its purchases of U.S. farm products and other goods.

“This was telegraphed well enough that the market is kind of looking through it and toward the next phase and what that means,” said Keith Buchanan, portfolio manager at Globalt Investments.

Health care stocks accounted for much of the market’s gains. Utilities and makers of household goods also rose. Those gains outweighed losses in financial stocks, companies that rely on consumer spending and the energy sector.

The S&P 500 index rose 6.14 points, or 0.2%, to 3,289.29. The index also climbed to an all-time high on Monday.

The Dow gained 90.55 points, or 0.3%, to 29,030.22. The Nasdaq composite added 7.37 points, or 0.1%, to 9,258.70.

Smaller-company stocks fared better than the rest of the market. The Russell 2000 picked up 6.66 points, or 0-4%, to 1,682.40.

The benchmark S&P 500 index is on track for its second straight weekly gain.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.78% from 1.81% late Tuesday.

While limited in its scope, investors have welcomed the U.S.-China deal in hopes that it will prevent further escalation in the 18-month long trade conflict that has slowed global growth, hurt American manufacturers and weighed on the Chinese economy. The world’s two largest economies will now have to deal with more contentious trade issues as they move ahead with negotiations. And punitive tariffs will remain on about $360 billion in Chinese goods as talks continue.

With the “Phase 1” agreement now a done deal, investors have more reason to focus on the rollout of corporate earnings reports over the next few weeks. Earnings have been flat to down for the last three quarters, and if the fourth quarter meets expectations, it should be around the same.

However, analysts are projecting 2020 corporate earnings growth to jump around 9.5%, which is why traders will be listening this earnings reporting season for any clues management teams give about their business prospects in coming months.

“We’re expecting a reacceleration in the back end of the year, so any (company) guidance that brings any type of skepticism to that could threaten the recent rally we’ve had and the gains that we’ve accrued in the past few months,” Buchanan said.

Health care stocks powered much of the market’s gains Wednesday. Several health insurers climbed as investors cheered a solid fourth-quarter earnings report from UnitedHealth Group.

The nation’s largest health insurer, which covers more than 49 million people, said its revenue rose 4% on a mix of insurance premiums and growth from urgent care and surgery centers. Its stock rose 2.8%. Other health insurers also moved higher. Anthem gained 1.6%, Cigna added 1.5% and Humana climbed 1.9%.

Technology companies also rose. The sector is reliant on China for sales and supply chains and benefits from better trade relations. Microsoft gained 0.7% and Advanced Micro Devices gained 0.8%.

Utilities and consumer staples sector stocks also notched gains. Edison International climbed 2.5% and PepsiCo rose 1.7%.

Financial stocks fell the most. Bank of America slid 1.8% after reporting weaker profits due to the rapid decline of interest rates in late 2019.

Energy stocks also fell along with the price of crude oil. Valero Energy dropped 3.3%.

Homebuilders marched broadly higher on news that U.S. home loan applications surged 30.2% last week from a week earlier. The pickup in mortgage applications reflects heightened demand for homes and suggests many buyers are eager to purchase a home now, rather than waiting for the traditional late-February start of the spring homebuying season. Hovnanian Enterprises jumped 6.4%.

Target slumped 6.6% after a disappointing holiday shopping season prompted the retailer to cut its forecast for a key sales measure in the fourth quarter. The company said weak sales of electronics, toys and home goods crimped sales growth to just 1.4% in November and December.

Benchmark crude oil fell 42 cents to settle at $57.81 a barrel. Brent crude oil, the international standard, dropped 49 cents to close at $64 a barrel.

Wholesale gasoline fell 1 cent to $1.64 per gallon. Heating oil declined 3 cents to $1.88 per gallon. Natural gas fell 7 cents to $2.12 per 1,000 cubic feet.

Gold rose $9.70 to $1,552.10 per ounce, silver rose 25 cents to $17.92 per ounce and copper fell 1 cent to $2.87 per pound.

The dollar fell to 109.91 Japanese yen from 110.00 yen on Tuesday. The euro strengthened to $1.1150 from $1.1128.

Markets in Europe closed mostly lower.

AP Business Writer Damian J. Troise contributed.

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Uber and Hyundai Are Planning to Offer Flying Taxi Rides by 2023

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Hyundai/Uber Flying Taxi Source: Hyundai
By Cat Ellis

At CES 2020, Uber and Hyundai showed off a full-size mock-up of a flying taxi that both companies hope will be ferrying you above congested city streets by 2023.

The electric plane, called Uberdai, will carry a pilot and three passengers up to 60 miles, at speeds of up to 180mph, slashing journey times and helping get cars off the road. Eventually the craft will be automated, but for now the two companies are focusing on manned craft.

The flying taxi market is starting to get pretty lively. Last year, Boeing began test flights to test the safety of Boeing. Next, an electric aircraft with passenger pods designed to travel up to 50 miles, and Bell Helicopter unveiled the Bell Nexus, which the company hopes will “redefine air travel”.

The difference with Hyundai’s plane is its partnership with Uber, which is a name synonymous with ride-sharing throughout much of the world, and already has the infrastructure in place to offer flights as an option alongside trips by car, bike, scooter, helicopter and even submarine.

Ready for lift-off?

Uber has been aiming for the skies for several years now, teaming up with various aerospace companies to build a fleet of mini aircraft. At the Uber Elevate Summit in June 2019, it revealed a concept created in collaboration with Jaunt Air Mobility – a business that’s aiming to create a fully autonomous aircraft by the end of 2029.

This design was a cross between a helicopter and a plane, with a rotor to get it off the ground, and wings for gliding once airborne to conserve power.

“It’s called the compound aircraft, and what it’s doing is really trying to get the best of both worlds of hover and high-speed efficient flight,” Uber’s head of engineering Mark Moore said at the event.

Uber intends to launch its first swarm of flying cars in the US and Australia in 2023, with schemes planned for Dallas, Las Vegas and Melbourne. We’ll keep you updated as we learn more over the coming months. 

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