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Get to know business, politics, and interests as much as possible. Below are the critical events you need to know about. These are interesting for you to begin your day.
Municipal Elections
On the eve of Tuesday’s midterm elections, President Joe Biden stated the Democrats would have a challenging time retaining control of the House than the Senate. We can overcome this obstacle, albeit I expect some difficulties. Biden responded Monday at the White House when asked if the Democrats will retake the House, “I believe the House is more difficult.”
Numerous analysts forecast that the Republicans will win the House of Representatives, although the Senate battle is exceptionally tight.
The Trump Announcement
Also, former President Donald Trump said on November 15 that he would make a “major announcement” at his Mar-a-Lago club in Florida. His recent remarks at a rally for Republican US Senate candidate JD Vance in Dayton, Ohio, are the strongest indication that he will start his widely anticipated third presidential run.
With his endorsements of candidates in local, state, and national contests, Trump has used the midterm election cycle to solidify control inside the Republican Party.
Don’t forget recently, a federal appeals court suspended the special master examination of records seized from former president Donald Trump’s Mar-a-Lago club, dealing Trump a significant blow. A major roadblock to the Justice Department’s probe into the Trump administration’s government records management has been removed with today’s verdict.
In particular, the tribunal overturned the decision that designated a special master, or independent counsel, to review thousands of documents seized from Trump’s home and determine which ones should be kept secret from the investigation. The court’s ruling stated that the judge should not have become involved. Trump’s legal team is considering an appeal to the Supreme Court but has yet to decide.
Coins Clatter
The whole cryptocurrency market dropped in response to Binance’s move to liquidate all remaining FTT. On November 6, Binance CEO Changpeng Zhao tweeted that the tokens were valued at $529 million. According to an article by CoinDesk last week, the FTT Token represents a significant chunk of Alameda Research’s overall holdings. It is still a big shock to the world.
Comparative tranquility in the financial markets
The S&P 500 futures were unchanged at 5:38 AM EST, while the Nasdaq 100 futures were up 0.3%. Dollar and Treasury yields were constant throughout the yield curve. While other Group of 10 currencies had relatively slight movements, the Japanese yen rose. Bitcoin and other cryptocurrencies and oil followed gold in declining value.
Politics and Oil
Notably, the energy boom began precisely during the 2020 presidential election. The facts do not support the idea that the present government is opposed to oil and gas. The years of Biden have been prosperous for oil and gas.
In February 2021, just after the 2020 presidential election, the oil price surged under the Biden administration due to its economic policy of distributing aggregate demand to the lower classes (by sending out checks to the public).
He argued that lower-income populations are more inclined to make purchases and spend a more significant proportion of their money on goods. Consequently, bull commodities markets are related to redistribution. In this regard, the present administration’s policies promote the oil and gas business. But what about the dire predictions, the green movement, and everything else?
Before Covid, the mindset in the oil business led to a race to the bottom regarding equipment investment and the subsequent rise in output volume. And although this was excellent for consumers, it was ultimately a significant financial blow to the industry as a whole.
Contributing causes may be negative attitudes about oil and gas, the continuing energy need, and the widespread ESG environment. Who wants to invest in new good drilling when everyone talks about electric cars and decarbonization? Drilling and exploration have ceased, but the supply side did not react.
Conclusion
The Obama/Trump period was defined by austerity and tax cuts that failed to revive the economy. During those years, the Silicon Valley Pixel Pushers were the most successful.
Due to the new administration’s surging demand for commodities, due to the stimulus, and an environment that has discouraged investment, the incumbent players have had an unprecedented time of profitability.
Contact Information:
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Bio:
Mike Owens is a 55 year old recruiter who specializes in helping recent university graduates kickstart their careers in the business and sales fields. After finding success as a team manager himself, Mike has made it his mission to help other young professionals find their own path to success.
Mike got his start fresh off the campus of Kansas State University, where he developed a passion for mentoring and coaching others. He quickly rose through the ranks in the business world, earning numerous awards and accolades for his leadership skills and ability to drive results.
After years of managing successful teams, Mike decided to pivot his focus to helping others achieve their own goals. As a recruiter, he has developed a strong network of contacts in the business and sales fields, which he leverages to help match his clients with the right opportunities.
Mike is known for his dedication to his clients and his ability to help them navigate the often-overwhelming job market. He takes a personalized approach to recruiting, taking the time to get to know each candidate and understand their unique strengths and career aspirations.
Outside of work, Mike enjoys spending time with his family and staying active. He is an avid golfer and enjoys traveling to different courses around the country. He is also involved in several charitable organizations in his community.
