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Author Topic: U.S. Politics  (Read 94684 times)

Offline Rick Plant

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Re: U.S. Politics
« Reply #16 on: November 09, 2021, 03:38:28 AM »
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Another historic day for the stock market and the S&P 500. The stock market soared another 104 points to a record high 36,432.22. The S&P 500 closed above 4,700 for the first time. Another Biden record. Good things happen when you have strong and competent Democratic leadership. Remember, every Republican except for 13 in the House voted against this infrastructure bill that benefits ALL Americans.   ​

S&P 500 closes above 4,700 for the first time as infrastructure stocks rally

The S&P 500 closed at a record high Monday after Congress approved an infrastructure spending package.

The broad index gained 0.09% to close above 4,700 for the first time at 4,701.70. The Dow Jones Industrial Average added 104.27 points, or 0.3%, to close at 36,432.22. The Nasdaq Composite ticked up 0.07% at 15,982.36. All three stock averages posted record closes.

The U.S. House of Representatives late Friday passed a more than $1 trillion infrastructure bill, sending the legislation to President Joe Biden for his signature. First passed by the Senate in August, the package would provide new funding for transportation, utilities and broadband, among other infrastructure projects.

“Investors have waited for a significant step-up in infrastructure spending for decades,” Citi’s Anthony Pettinari said in a note. “We view this generational investment as a significant catalyst for growth for a number of our stocks.”

Industrials and materials stocks rallied Monday with those names set to benefit from the spending package. The Global X U.S. Infrastructure Development exchange-traded fund rose nearly 1.3% and hit a new all-time high Monday morning.



Mining company Freeport-McMoRan, construction materials stock Vulcan and steel corporation Nucor were among the notable gainers on the S&P 500. Construction equipment manufacturer Caterpillar led the Dow’s rally with a 4% gain. Heavy equipment producer Deere saw its shares rise about 1.6%. United Rentals, Martin Marietta and Jacobs Engineering were among other infrastructure-related gainers.

Elsewhere, chip maker Advanced Micro Devices led gains on the S&P 500 and the Nasdaq Composite. AMD rallied 10.1% after the company announced it won Meta, formerly known as Facebook, as a chip customer and revealed new chip products.

Meanwhile, Tesla founder Elon Musk rattled investors this weekend, asking in a Twitter poll whether he should sell 10% of his stock as a response to political clamoring to tax unrealized gains from equity holdings. Nearly 58% of respondents said yes, and shares of Tesla closed 4.8% lower Monday.

The passage of the infrastructure stimulus, an improving Covid situation in the U.S., and a better-than-expected labor market reading boosted investor confidence in the economic recovery. The October jobs report came in Friday better than economists expected as U.S. payrolls added 531,000 jobs last month, according to the Labor Department.

“We expect Equities to continue to climb the ‘wall of worry’, as risks look largely priced in and showing signs of improvement,” JPMorgan’s Marko Kolanovic said in a note Monday.

The S&P 500 has now posted 64 record closes in 2021 and is up more than 25% this year.

Investors await fresh inflation readings in the week ahead. The producer price index and consumer price index are slated for release on Tuesday and Wednesday, respectively. Economists expect both reports to remain hot for October.

The Federal Reserve is eyeing both inflation and jobs data to guide its timeline on normalizing monetary policy.

Last week, the Fed announced a plan to begin tapering its pandemic-era economic aid by the end of November, putting the central bank on track to end its asset purchase program by the middle of next year.

https://www.cnbc.com/2021/11/07/stock-market-futures-open-to-close-news.html


Dow hits record high as infrastructure bill lifts cyclicals

Nov 8 (Reuters) - The Dow hit a record high on Monday as the passage of a $1 trillion infrastructure bill lifted industrials, materials and other economy-focused sectors, while Tesla fell on top boss Elon Musk's plan to sell about a tenth of his stake.

Five of the 11 major S&P 500 sector indexes were higher after the Congress on Saturday passed the long-delayed infrastructure bill hailed by President Joe Biden as a "once in a generation" investment.

"That infrastructure bill is going to put some energy into companies like 3M, Caterpillar and other companies that power the industrial sector, but we also think the materials sector is going to really benefit from that bill," said Greg Bassuk, chief executive at AXS Investments in Port Chester, New York.

Travel and tourism stocks rallied, led by airlines, as the United States lifted travel restrictions slapped on much of the world since the COVID-19 pandemic began. The S&P 1500 Airlines index (.SPCOMAIR) gained 1.1%. read more

The Philadelphia SE Semiconductor index (.SOX) rose 1.3% to a record high.

Advanced Micro Devices Inc (AMD.O) jumped 9.0% after it signed up Meta Platforms Inc (FB.O) as a data center chip customer and announced new supercomputing chips to take on its bigger rival Nvidia Corp (NVDA.O). read more

Wall Street's main indexes hit record highs last week, supported by an upbeat earnings season, strong October jobs data and a positive update on Pfizer Inc's (PFE.N) experimental pill against COVID-19.

https://www.reuters.com/business/futures-tick-higher-after-congress-clears-infrastructure-bill-tesla-falls-2021-11-08/


Dow Heading for Record Highs, Tesla Tumbles—and What Else Is Happening in the Stock Market Today
https://www.barrons.com/articles/stock-market-today-51636365285

Caterpillar Leads Dow Jones Up 116 Points on $1 Trillion Infrastructure Deal
Congress finally passed a bipartisan infrastructure spending bill that investors expect will boost spending for Caterpillar's equipment.

https://www.fool.com/investing/2021/11/08/caterpillar-leads-dow-jones-up-116-points-on-1-tri

JFK Assassination Forum

Re: U.S. Politics
« Reply #16 on: November 09, 2021, 03:38:28 AM »


Offline Rick Plant

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Re: U.S. Politics
« Reply #17 on: November 09, 2021, 11:35:04 PM »
Radical right wing Republicans have no interest in working for the American people. They are only there to promote their racist and fascist agenda. When Republicans in the Party decide to vote to pass legislation aimed at helping their own constituents these radical right wing Republicans try to banish them from the party. The GOP is a radical anti American extremist cult.

'Sedition caucus' trying to strip committee assignments from 13 Republicans because they voted for infrastructure



House Republicans have no problem with one of their members posting a tweet depicting him murdering Democratic Congresswoman Alexandria Ocasio-Cortez but they are outraged at 13 members of their caucus who voted to pass President Joe Biden's infrastructure bill.

According to Jake Sherman's Punchbowl News, rank and file GOP members of Congress are trying to force Republican Minority Leader Kevin McCarthy to strip the 13 of their committee assignments, noting that "GOP leadership is bracing" for the attempt. McCarthy was opposed to the bill, which will vastly improve basic necessities like roads, bridges, rail, and the nation's ports, expand broadband access, and help localities protect against climate change.

Not only are GOP members of Congress angry the 13 voted for the legislation, they are angry they voted "early," rather than forcing Democrats to cross the majority threshold of votes to pass the bill without Republicans.

"Much of the anger is directed at Rep. John Katko (R-N.Y.), who voted early for the legislation. Katko is the ranking member on the Homeland Security Committee. Katko told multiple lawmakers on the House floor that he had seen Rep. Jim Banks (R-Ind.) on television talking about the infrastructure bill, and he was voting early."

Members of the Sedition Caucus, including Reps. Marjorie Taylor Greene, Lauren Boebert, and Matt Gaetz have publicly attacked their fellow Republicans for voting to help the American people by voting for the bill.

https://www.rawstory.com/gop-infrastructure/

Offline Rick Plant

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Re: U.S. Politics
« Reply #18 on: November 10, 2021, 12:04:54 AM »
We see the Trump disaster on the left and the Biden transformation on the right.

Under Trump we were losing 1 million jobs per month. Biden came in and got Americans back to work creating an average of 620,000 jobs per month and 5.6 million total which is the most jobs ever created by a President in less than 10 months.

Under Trump the unemployment rate soared. Biden has lowered the unemployment rate way down to 4.6%.

The vaccine rollout under Trump was an absolute dismal failure with less than 1 million shots per day. President Biden completely transformed America's vaccine rollout into the best in the world vaccinating over 4 million people which is an amazing record. 70% of adults have been fully vaccinated.

The GDP has soared under the Biden Administration.

This is amazing progress in just a few months time!         


JFK Assassination Forum

Re: U.S. Politics
« Reply #18 on: November 10, 2021, 12:04:54 AM »


Offline Rick Plant

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Re: U.S. Politics
« Reply #19 on: November 10, 2021, 01:12:26 PM »
Biden rolls out multibillion-dollar plan to upgrade aging U.S. ports after passage of infrastructure bill

The Biden administration outlined several initiatives on Tuesday aimed at addressing immediate supply-chain challenges and other disruptions affecting global commerce, a move that follows the passage of the bipartisan infrastructure bill.

The $1 trillion infrastructure bill, the single largest federal investment in American history, includes $17 billion for infrastructure improvements at coastal and inland ports, waterways and ports of entry along the U.S. border.


WASHINGTON – The Biden administration outlined several initiatives on Tuesday aimed at addressing immediate supply chain challenges and other disruptions affecting global commerce.

Several senior administration officials, who spoke on the condition of anonymity in order to share details of the proposed plans, said the administration will begin work within the next 60 days with the U.S. Army Corps of Engineers on $4 billion worth of construction work at coastal ports, inland waterways as well as other corps-eligible facilities.

The plan will also identify and prioritize $3.4 billion in upgrades to obsolete inspection facilities that will make international trade more efficient through the northern and southern borders, a senior administration official said.

“This is a long-overdue infrastructure improvement and it has clearly been a bottleneck in the past,” the person added.

The officials said the administration plans to standardize data-sharing requirements for shipping lines, terminal operators, railroads, truckers, warehouses and cargo owners.

“There is not a lot of data-sharing among the private sector and participants in the goods movement chain,” the official said, adding that the lack of data exchange causes delays and inefficiencies as cargo moves from one part of the supply chain to another.

The U.S. Digital Service is working with the Federal Maritime Commission and the joint program office at the Department of Transportation to build a data framework that will help move goods more efficiently, the senior Biden administration official said.

“This is one of the more important but less visible parts of this program,” the person added.

The world’s supply chain – already exacerbated by the coronavirus pandemic – is continuing to bear the brunt of surging consumer demand, labor shortages and overseas manufacturing delays, which has led to higher transportation costs and inflation.

On Wednesday, President Joe Biden will visit the Port of Baltimore to discuss how the $1 trillion infrastructure bill passed by lawmakers Friday will improve ports and strengthen supply chains.

The bipartisan infrastructure bill, which passed the Senate in August but sat idle in the House for months, will finance colossal upgrades to America’s roads, bridges, airports, seaports and rail systems.

The bill, the single largest federal investment in American history, includes $17 billion in infrastructure improvements at coastal and inland ports, waterways and ports of entry along the U.S. border.

The measure, which Biden has yet to sign into law, includes an additional $110 billion to repair roads, bridges as well as other major transportation projects across the United States.

When asked for the timing of these investments, a senior administration official said that work was “already underway” on some projects while other programs would take anywhere from 45 days to 90 days.

The officials did not indicate when Biden would sign the bipartisan infrastructure bill.

The bill’s passage came on the heels of Biden’s attendance at the annual forum of the “Group of 20,” or G-20, referring to the 20 major economies that account for more than 80% of world GDP and 75% of global trade.

While at the G-20, Biden convened a summit alongside leaders from 14 other countries and the European Union calling for their unbending commitment on supply chain issues.

“Supply chains are something that most of our citizens never think twice about until something goes wrong. And during this pandemic, we’ve seen delays and backlogs of goods from automobiles to electronics, from shoes to furniture,” Biden said in his debut at the G-20 since becoming president.

“Ending the pandemic is the ultimate key to unlocking the disruptions we’re all contending with. But, we have to take action now, together with our partners in the private sector, to reduce the backlogs that we’re facing,” he said.

Now that the pandemic has highlighted vulnerabilities in the system, he said, “we cannot go back to business as usual.”

Last month, the Biden administration unveiled a plan to run operations 24/7 at the California ports of Los Angeles and Long Beach, the nation’s busiest port complex.

Shortly thereafter, the twin California ports, which account for 40% of sea freight entering the United States, announced new fines on carriers in order to clear the intensifying logjam of cargo ships.

Starting on Nov. 1, offloaded containers moved by trucks will have nine days before fines start accruing. Containers scheduled to move by rail will have three days. In accordance with these deadlines, carriers will be charged $100 for each lingering container per day.

https://www.cnbc.com/2021/11/09/supply-chain-fix-biden-administration-to-spend-more-than-4-billion-on-aging-us-ports.html

Offline Rick Plant

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Re: U.S. Politics
« Reply #20 on: November 11, 2021, 01:04:53 PM »
Pro-infrastructure Republicans are facing a barrage of abuse from furious Trump supporters: report
https://www.rawstory.com/trump-supporters-infrastructure/

JFK Assassination Forum

Re: U.S. Politics
« Reply #20 on: November 11, 2021, 01:04:53 PM »


Offline Rick Plant

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Re: U.S. Politics
« Reply #21 on: November 11, 2021, 01:07:43 PM »
‘Somebody’s going to get killed’: Dem lawmaker hammers GOP for refusing to punish Gosar for violent video
https://www.rawstory.com/kevin-mccarthy-paul-gosar/

Offline Rick Plant

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Re: U.S. Politics
« Reply #22 on: November 11, 2021, 01:09:31 PM »
President Biden touts infrastructure bill at Port of Baltimore, says it will boost economy
https://foxbaltimore.com/news/local/president-biden-touts-infrastructure-bill-at-port-of-baltimore-says-it-will-boost-economy

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Re: U.S. Politics
« Reply #22 on: November 11, 2021, 01:09:31 PM »


Offline Rick Plant

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Re: U.S. Politics
« Reply #23 on: November 11, 2021, 11:28:43 PM »
And right wing Republicans in Indiana voted against President Biden's infrastructure bill that will revitalize Indiana.

HOWEY: Biden infrastructure bill will bring $9 billion to Indiana
The bill will bring more than $8 billion to Indiana just to revitalize roads and bridges




INDIANAPOLIS — In a week after the Dow crossed 36,000 for the first time ever and 531,000 new jobs were created in October, House Democrats aided by 13 Republicans – though none from the Indiana delegation – voted late Friday night to pass President Biden’s $1.2 trillion infrastructure bill by a 228-206 vote. Six progressive Democrats voted against the measure after Speaker Nancy Pelosi received commitments on the Build Back Better Act to split the votes from this record infrastructure bill.

The bill will bring more than $8 billion to Indiana to revitalize roads and bridges; $751 million to ensure safe, clean drinking water; $680 million to improve public transportation systems; $350 million to expand broadband internet access, especially in rural areas; and $20 million for Indiana to respond to extreme weather events.

But like just about everything else in this era of American politics, the infrastructure bill was characterized as “solving problems” in the words of Democrat U.S. Rep. Frank Mrvan, or denounced as a “socialist scheme” according to Republican U.S. Rep. Jackie Walorski, despite the fact that U.S. Sen. Todd Young helped negotiate the version that passed the Senate. Young voted no because it would have been followed by President Biden’s Build Back Better bill.

“We have discussed the need to make desperately needed investments in our infrastructure and broadband technology for too long,” Mrvan told the NWI Times following the House vote. “Today, we delivered.”

Walorski said, “As Hoosier families face the devastating ramifications of President Biden’s inflation and supply chain crises, President Biden and the Democrats’ socialist tax and spend scheme is astonishingly out of touch with the American people.”

U.S. Reps. Larry Bucshon, R-Newburgh, and Jim Baird, R-Greencastle called the bill a “Trojan Horse” designed to pave the way for future spending.

Walorski, Bucshon and Baird have rediscovered their fiscal conservatism, which was missing during the $7 trillion in additional debt accrued under President Trump. Hoosier Republicans didn’t balk at receiving a portion of the estimated $28 billion the Trump administration paid to American farmers from 2017 and 2020 as part of the Market Facilitation Program for losses driven by tariffs that China placed on agricultural imports from the U.S. in retaliation for Trump’s trade war.

The Infrastructure Investment and Jobs Act comes on the heels of Biden’s American Rescue Plan last spring that will bring some $4 billion in federal investments to Indiana, including $1.28 billion for municipalities. ARP funds will also fund Gov. Eric Holcomb’s $500 million READI grants. So Hoosier governments are going to be seeing an unprecedented $13 billion over the next four or five years.

Recently released state-level data demonstrate that the Infrastructure Investment and Jobs Act will deliver an array of upgrades for Indiana, coming some 16 years after the $3.8 billion Indiana Toll Road lease fueled Gov. Mitch Daniels’ 10-year, fully funded road program that includes remaking the U.S. 31 freeway and extending I-69 from Bloomington to Indianapolis.

The American Recovery and Reinvestment Act was passed and signed by President Obama in February 2009 during the Great Recession and included $1.4 billion for Medicaid expansion (HIP 2.0), $1.3 billion for education, $650 million for roads and bridges, $400 million for nutrition and another $600 million for weatherization, water quality, housing, public transit and child care.

The historic Infrastructure Investment and Jobs Act is designed to:

- Repair and rebuild Indiana roads and bridges with a focus on climate change mitigation, resilience, equity, and safety for all users, including cyclists and pedestrians. In Indiana there are 1,111 bridges and over 5,478 miles of highway in poor condition with this legislation providing $6.6 billion.

- Improve healthy, sustainable transportation options for millions of Americans with the state expecting to receive nearly $680 million over five.

- Build a network of electric vehicle chargers to facilitate long-distance travel and provide convenient charging options with Indiana receiving $100 million over five years.

- Help connect every American to reliable high-speed internet. According to the White House, 16% of Indiana households do not have an internet subscription, and 3.2% of Hoosiers live in areas where, under the FCC’s benchmark, there is no broadband infrastructure. Indiana will receive a minimum allocation of $100 million that will provide access to at least 217,000 Hoosiers who currently lack it.

- Prepare more of our infrastructure for the impacts of climate change, cyber attacks, and extreme weather events. From 2010 to 2020, Indiana experienced 34 extreme weather events, costing the state up to $10 billion in damage. Indiana will expect to receive $20 million over five years to protect against wildfires and $20 million to protect against cyber attacks.

- Deliver clean drinking water to every American and eliminate the nation’s lead service lines and pipes. Indiana will expect to receive $751 million over five years to improve water infrastructure.

- Airports in Indiana would receive approximately $170 million for infrastructure development for airports over five years.


https://www.wthr.com/article/news/politics/howey-biden-infrastructure-bill-will-bring-9-billion-to-indiana/531-4634e4cf-6566-4bfa-9d67-f9f66f1d48e2