This just happened before I called it a day… an unexpected 4-minute video posted by Trump on Twitter saying he WOULD NOT sign off on the new $900 billion COVID-19 relief bill unless serious changes were made.
The most notable statement he made was “asking Congress to amend this bill and increase the ridiculously low $600 to $2,000, or $4,000 for a couple.”
In a surprising turn of events, he had rallying support from Democrats such as House Speaker Nancy Pelosi and Congresswoman Alexandria Ocasio-Cortez. And as of today, they have until the end of Christmas Eve to negotiate and get unanimous consent on these changes.
However, that was just one statement. Trump was correct in noting how WAY too much money was being allocated for special interesting and lobbying groups with foreign ties to other nations. Fox News discussed this problem on Monday night, making the following observations:
- $500 million in foreign aid for Israel
- $700 million in aid for Sudan
- $1.3 billion in military assistance for Egypt
- $135 billion for Burma
- $506 million for Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama as part of the Central America Regional Security Initiative
- $10 million for “gender programs” in Pakistan
Just imagine… a bill spanning over 5,600 pages that outlines nearly $2.3 trillion in spending, and the voters at Congress were given less than 8 hours to read the entire thing before being summoned to say “yay” or “nay” within a few minutes before midnight.
What’s even more shocking are the number of people who very clearly opposed what was in the bill, yet voted to pass the bill because they wanted the American people to have some form of financial assistance. If the American people speak up against these individuals, you can expect to see an entirely new set of House and Senate representatives elected in 2022.
I don’t care who you are or where you come from, but $600 is mere peanuts. It’s not nearly enough to support the millions of Americans who are on their last dollar and facing the real possibility of homelessness.
And when you consider how much money was being allocated for foreign aid, it really makes you wonder why we even bother having a two-party system in the first place. At the end of the day, it’s all the same sh*t in a different toilet.
My only wish is that Trump would have taken this kind of declarative action several months before the 2020 Presidential Election. Had he done that, I’m sure he would have received more than enough votes to have Joe Biden packing his bags.
What do YOU think about Trump’s unexpected video statement about the COVID-19 relief bill? Too little too late, or is there a chance to give Americans the financial support they need? Reply to this newsletter and share your thoughts with us!
The Final Full Week of Market Activity Might Be a Net Loss…
We are into our second day of what is arguably the final week of full trading activity before the markets close early on Thursday and shut down completely on Friday. And as of yesterday night, we are now experiencing the third straight day of losses.
Here are the most important numbers you need to know about yesterday’s trading session:
- Dow Jones: -0.7% (+5% for the year)
- S&P 500: -0.2% (+14% for the year)
- NASDAQ: +0.5% (+42.7% for the year)
These numbers are likely explained by two factors: The dying down of trading activity for 2020 as traders and the big banks leave for holiday, and the remaining effects of the news stories published yesterday.
In the latter case, I’m referring to both the $900 billion COVID-19 relief bill being passed and the rise of the new “B117” variant of the coronavirus being spread all across the United Kingdom, which is supposedly 70% more transmissible and has led to numerous countries banning Britons from entry.
It’s entirely possible that the existing COVID-19 vaccines from Moderna and Pfizer-BioNTech are equally effective against this new variant, but we’ll need at least a few more weeks of testing to see if this is the case…
What’s Bigger Than Movies and Sports Combined? Video Games!
I know that some of us are too old to be wasting our free time with video games, but this industry presents a serious money-making opportunity for any investor who seeks to escape the confines of index funds and rising tech companies.
“Global video game revenue is expected to surge 20% to $179.7 billion in 2020, according to IDC data [$150.2 billion in 2019 across console, PC, and mobile sales], making the video game industry a bigger moneymaker than the global movie and sports industries combined.
The global film industry reached $100 billion in revenue for the first time in 2019, according to the Motion Picture Association, while PwC estimated global sports would bring in more than $75 billion in 2020.”
What’s even crazier is that experts don’t anticipate this growth slowing down once the COVID-19 pandemic ends. The video game industry is projected to shoot straight up from high single-digit growth for the past two years to its very first double-digit growth year in 2021.
There are now NUMEROUS ways to enjoy video games – subscriptions, numerous platforms available, better online connectivity between players, physical and digital copies, constant release of new consoles – the list is virtually endless.
I don’t know exactly which companies would be best to invest into for taking advantage of this growing trend, but it’s certainly one that can no longer be ignored.
I’m curious to know: Would YOU allocate a certain percentage of your stock portfolio to video games? Why or why not? Reply to this newsletter and tell us where your head is at!
2020 Was an Unbelievably Successful Year for Tesla!
As Elon Musk celebrates the inclusion of his electric vehicle company Tesla into the S&P 500, Forbes decided to look back on the year 2020 and how far Tesla has come. It’s not something you see every day, but when you do, you can’t help but stare in awe at what has been a wild ride (no pun intended):
- $655 billion in market capitalization
- +705% in share value for 2020 alone
- It will take 170 years for Tesla to make as much money as it is valued at (“based around “estimated profitability in 2022”
- $566 million in profits for Q3 2020
- $149 billion in net worth for Elon Musk
- $780 could be the highest price Tesla shares reach, according to the bulls
- $40 could be the lowest price Tesla shares reach, according to the bears
- 1.1 million vehicles delivered to customers in Q3 2020
It’s been a total of 16 years since Elon Musk made the big leap in joining Tesla, who at the time was a baby company of just one year old. He could have easily played it safe and stayed with PayPal this whole time (which he cofounded), but instead he took a big leap of faith and ventured into a domain that nobody cared about.
Sometimes, in life, the biggest risks pay out quite handsomely.
Need to Get Vaccinated for COVID-19? Lyft Will Drive You for FREE!
Lyft, alongside Uber, has taken a massive hit in profitability due to the COVID-19 pandemic. Without the need to physically from one place to the next, the demand for ride-sharing has decreased significantly.
However, according to travel magazine Travel + Leisure, their newest initiative may be the thing that gets them back on the right track in 2021:
“Lyft will provide millions of free rides to low-income, uninsured, and those in at-risk communities who are getting vaccinated for the coronavirus, the ride-share company announced Tuesday.
The effort, in partnership with JPMorgan Chase, Anthem Inc., and United Way, is part of their LyftUp initiative, which partners with community organizations to provide services. The goal is to provide 60 million free rides to vaccination sites across the country when vaccines become available.”
If you’re okay with having to wear a mask for the duration of your trip, and are comfortable with your driver wearing a mask at all times, and you REALLY wanted to get vaccinated, go for it!
I don’t have much more to say on this matter, other than expressing my own curiosity about fellow rival Uber offering the same service to its customers…