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American businesses have a message for China 👇👇👇
🎵 "I caaaaaaan't liiiiiiiiiiiive, if living is without yooooooooou"
Pressure's building on the US government to crack on with the US-China trade deal...
Unsurprisingly, business groups want to ignore the politics and just get back to business as usual 👇👇👇
Nearly three dozen of the nation’s most influential business groups—representing retailers, chip makers, farmers and others—are calling on the Biden administration to restart negotiations with China and cut tariffs on imports, saying they are a drag on the U.S. economy.
Named among these three dozen business groups are:
- the U.S. Chamber of Commerce
- the Business Roundtable
- the National Retail Federation
- the American Farm Bureau Federation
- the Semiconductor Industry Association
Fair to say they're among the big-hitters.
But China are still waaaaay behind on their phase one trade deal commitments (to boost purchases by $200 billion across two years) and they're not keen to bow to pressure from the US or elsewhere & change how they do things...
Key quotes from the letter:
“there is more work to be done by both governments to ensure that China meets its existing purchase agreements.”
“We want to express our support for continued engagement with China on trade and economic issues,”
“We also recognize that fully resolving tariffs is unlikely, absent substantially more progress by China on core issues,”
So, something needs to be done, but we acknowledge that it all depends on China anyway...?
Thanks for your help guys 👍
What it does create is political pressure for the Biden administration to act, and perhaps build some diplomatic bridges to ease tensions...
Positive for equities?
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Goldman Sachs: Don't worry about the Delta, S&P's going to 4700 by year end (and 4900 in 2022)
Never pay attention to the price targets but the reasoning behind these calls is always interesting...
Aren't they worried about the Delta variant?
“We expect the direct impact of the Delta variant on the US economy to consist mainly of a delay in the final steps of reopening, rather than a major reversal.” “But the impact on Asia raises supply chain/inflation risk, especially for autos and chip-related businesses.”
A delay, a blip. Nothing more.
What do you reckon?
Sounding too bullish?
You ain't seen nothing yet.
JP Morgan see the index hitting 10,000 by the mid-2030s 👇👇👇
Yes, it was published in 2019, but the logic still holds, perhaps even moreso now...
So many people miss this factor in their 'stocks are over-valued' analysis 👇👇👇
• Equity valuation is attractive relative to other assets
With bond yields consistently trending lower for the past forty years, and the pool of negative yielders more likely to increase in coming years, why wouldn't equities look incredibly attractive?
That said, a lot can happen in ~15 years so have a read of the full note and draw your own conclusions...
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No money, no honey Elon: Tesla weren't invited to yesterdays electric-car summit at the White House...
White House press secretary Jen Psaki was asked during the press briefing whether Tesla was being excluded from the event because its employees were not part of an automotive union.
"I'll let you draw your own conclusion," Psaki said.
My conclusion is that it has much more to do with the long-established close relationships that large auto companies have with the US government rather than automotive unions.
These companies have built relationships over decades, paid their lobbying dues, and this is exactly why they do it. Hard luck Elon...
More: Business Insider
Blackout Vs Vaccination fun cos it's almost the weekend.
Start here 👇👇👇
"Imagine living in London during World War II, and in the middle of the blitz, your neighbor refuses to turn his lights out at night because the government isn't gonna tell him what to do. He is doing his own research on the Nazi war machine and whether the bombs are real, or not."
The UK population was 41 million at the time.
925,000 people were prosecuted, and that's just the ones that got caught!
I checked the cited 2011 research & this might sound familiar... 👇
Exactly the same issues, 80 years apart.
Tell me again how this is a brand new phenomenon / all because of social media...