Sree Iyer: Welcome to Daily Global Insights by Sri and Sree. This is a weekend wrap up as there is much happening. Today is Apr 3, 2021. And this is episode number 133. Namaskar Sridhar-ji.
Sridhar Chityala: Namaskar and good morning, and hope you all had a wonderful Friday.
Sree Iyer: And here are the main points:
Catch and bus spreading Biden search migrants across the country. A bus might be coming to your city very soon.
India will join its quad partners, Australia, the US, Japan in the first meeting with France.
US economy adds 916,000 jobs as unemployment falls to 6%.
Hunter Biden concedes that the controversial laptop absolutely could belong to him.
Major League Baseball All-Star game scheduled to be held in Georgia has now been called off.
In US News, as Law and Order tumble capital is under lock and key on Friday after a vehicle rammed into US Capitol Police office cars as per law enforcement. In the Capitol Hill shooting the suspect responsible for the death of an 18 year veteran of the US Capitol police force on Friday has now been identified as Noah Green a 25-year supporter of the Nation of Islam. Mr Green an Indiana native attempted to enter the US Capitol complex by ramming his vehicle into the main security checkpoint along Constitution Avenue. After failing to breach the checkpoint, Mr Green launched from the vehicle and ran aggressively at Capitol Police with a knife in his hand. He was subsequently shot by the police and died at a go at a local hospital as a result of the injury.
Sridhar Chityala: This is just one more incident in the Capitol Hill of a complete collapse of Law and Order that is taking place because of the unruliness that seems to be prevailing in the Capitol. Very sad day. I think DC is under siege. There’s something fundamentally wrong. DC is under siege because there are far too many incidents happening and happening with repetitive frequency. So what exactly is going on there and this bus surges and one of the cities that is going in DC. It is not going to be very very helpful in terms of the type of people that are going to be surrounding the capital.
Sree Iyer: So, the next item was about this catch and bus spreading that Biden is trying to do to get and spread the migrants across the country. Sir, so what is the idea of trying and place them in some government-owned buildings until they get their day in the court?
Sridhar Chityala: I think that they are being mixed into the communities, that is the verdict that is coming out. This is the first piece of information that is breaking very specific. I think they don’t want to have a melee; they don’t want to have an observation. They don’t want to have any witnesses. They do not want to see this drama fold out in borders. So they have come up with this new technique. It seems like you know, we don’t know how many buses etc but this bus surge is rightly on and it is very clear, it is orchestrated in very specific and targeted. They are sending these buses into now, formally confirmed by press New York, DC, Miami in Florida and which part of California don’t know and they have avoided the Southern Hill States like Arizona, Missouri, Montana, New Mexico. They have avoided these fulcrum districts and they are sending them into these urban locations perhaps, in the urban location, it’s easy to hide and get away.
Sree Iyer: Sir, this appears amazingly similar to what we saw with the Rohingyas that got resettled in strategic areas between the period 2004 and 2014 under the UPA rule. They would bring the Rohingyas from across the entire country of India and then they would go and settle them in Jammu in areas where there was a 50-50 kind of split. So they wanted this to go up.
Sridhar Chityala: Perhaps, who knows sir, the Indian playbook is being played out to its perfection in the United States. They learned all the tricks of the trade there and look at all the groups that basically advocated the welcome back of Democrats who funded so they are all kind of seems to be part of the setup and a lot of this lesson seems to have been learnt from there and that is now being advocated. This is not something that we have seen in the United States in four decades plus, what we are seeing this is being played out. What exactly is the role of Mr George Soros’s in this, you know is the kind of, he had talked about some of this stuff before and we also saw the case, where his Deputy nominee in LAPD, you know who has now rescinded lots of those cases. He supposed to be a Soros Kind of a sympathizer and where the LA county has got, you know complete breakdown of Law and Order. So we don’t know there seem to be loose pieces only can anecdotal there is nothing that can be connected because you will be called a conspiracy theorist. But, the fact is, you look at these facts are unheard of so I have asked the question. So should we now have passport controls? Should we now have immigration and border control at the airport? You people can seamlessly come to inboard a bus and may be electronic buses. So it is clean energy buses. So we all can have clean energy buses in airports. You come in, you get done down, you pass through getting into the electronic buses, clean energy you travel. Either you go home or you going to the community. Maybe that’s coming soon.
Sree Iyer: Sir, how many people have crossed over since the Biden Administration settled in sir?
Sridhar Chityala: The number is around close to 1.4 million.
Sree Iyer: This is in the last four months or three months?
Sridhar Chityala: In the last three months is close to about 250,000 to 300,000, but where they come up with this 1.4 Million number, I don’t know but in a number of illegal, no longer called illegal aliens etc. They are seamless citizens seems to be about numbering 1.4 million, that’s the number. All the arithmetic is made up. We will one day kind of break those numbers too, but, close to 300,000 people apparently in March alone, 199,000 people crossed.
Sree Iyer: Yes, and remember viewers. We showed you a video of a senator showing the Border in McAllen Texas, how it was happening and in the next news, Hunter Biden concedes that the controversial laptop absolutely could belong to him. What’re all these things are they either it is or it is not? What is he trying to say?
Sridhar Chityala: I think that maybe FBI has told him to concede you know, while he’s basically saying it could be absolutely his laptop because they probably have done this scan, IP everything so there’s more data that is available that basically conclusively proves that belongs to him. Now he’s going to say so what it’s mine. Just as you saw in a recent case the server case has been shut down by server case of Hillary Clinton has been shut down by the Supreme Court no longer for investigation. There seems to be her server which is been given to somebody else nothing happens hashed up. So even in this case, we hush up lots of these things. So this will also be kind of in a nicely hashed up because mainly mainstream media never covered, nobody covered but now he has stood up and basically said well, it is my laptop so what.
Sree Iyer: And Biden says that his massive tax increases will make the economy better. What are your thoughts, sir? We don’t think that is the right thing to do. But, what are your thoughts, sir?
Sridhar Chityala: Well, my thoughts are, I think let’s give in one line anecdotal answer which is namely to say, nowhere when you spend money and then determine how you exactly fund the money and you find sources which have no correlation, when you do get into difficulties in terms of this because very simple I want to give 400 million to this. I want to give 621 million to these specific types of Grants. I want to give for the Elderly Care and disabled 400 million. I want to give you know for reconstruction and retuning for highway 560 million, good. Because you have determined how much money to spend right good. Because you all believe this is all worthwhile needed will become a green clean thing. We are going to boost everything will be the world will be protected for next 200 years all good everything good. So, how do you earn this money? No. No, you don’t earn the money. I suddenly find that there is a huge pool of taxes sitting, the huge pool of taxes is sitting in corporate profits. These people don’t deserve that much a profit. So I need that money why I need that money because I need to spend the money here. So the money that you are spending has no correlation to the person. Suppose you go and you know, you run your restaurant, you run a bar, you run a hotel you find that you made some money extra money because of you know, 21% tax v/s 28 they say, oh you got too much money sitting there. So let me take that money and then use that money for my purpose, so, my political objective can be done. So this is the disconnect between whether you are a Janet Yellen with a PhD or whether you are an Alan Greenspan with a PhD when you take money that doesn’t belong to you, doesn’t belong to you and not earned by you for which taxes is already paid. That means you can park your intellect and you can park your degree outside and throw the economics out. So this is about economics which is very simple. The money has not been earned by the efforts of the outcome. The money has been stolen from somewhere so you can on this that’s all it is. So, they are trying to now find the money from the corporate taxes and suddenly I find, oh in 15 years, I will pay back because I would have taken the money. We are going to do a threadbare analysis of each line item of this number, there are about 64 line items. We will reconcile it to those numbers and we will show to people that see the numbers make their own judgment. It’s like this you have money in your account. And you say oh you are money in the account, let me take and spend it that means money is gone. It’s not used for any specific purpose, but we will do that in a separate show.
Sree Iyer: Yes. We will thank you, sir. And Obama’s nuclear pact with Iran might get a second life as proxy talks with Iran. We talked about this yesterday, that might also include, now, the United States, they too have been invited. Sir, it’s really laughable why Biden wants to do so many things in a hurry when he can’t even do one thing properly which is to get covid under control?
Sridhar Chityala: Well, I think that he is basically responding to all these different Muslim Islamic Council, Arabic relations all these different groups. There were even rumours that there are sleeper cells in this country. So they have basically unleashed and they are saying it’s time to pay back and the renegade you are also part of this. And China has thrown the acts in the middle of the tree by signing a 10-year deal with Iran on the purchase of the gas. Remember, there are Iran sanctions prevalent and more sanctions chest on the threshold of the elections. We were contemplating more sanctions with nuclear. Now China has said I violate the UN norms and I’m doing a deal. Is any reinforcement possible? Is UN very relevant? No, so they are legitimizing the UN and there is always a soft corner for the Obama-Biden administration to Iran relativity Israel. Till today the United States has not answered the question what’s happened to the Embassy? What is going to happen to the Embassy? They have not answered the question. There is an existential threat to Israel in the meanwhile; they’re going ahead with this. How many countries where Iran has a problem with Lebanon, Syria, Iraq, Palestine. Yemen. So many countries they have problems with and then of course are problems with the Shia Sunni classic kind of a problem that is prevalent the middle of this Mr Biden is renegotiating this deal with no restrictions. They are fully enriched. Apparently, they have got some deep caves in which they are building their kind of materials. And obviously, you know, Israel is probably know something about this more than any of us do. So, the story is that this is another kind of drama that is unfolding.
Sree Iyer: The Democrats are sending 120 million first Trash to Palestinian territories and the Islamic groups like CAIR and all other sleeper Iranian cells who touted for Democrats win the day the money has worked for them and sir, you just touched upon this and I’ll let you answer this one and then we go to the most important thing perhaps in the US today, which is the major league baseball All-Star Game cancellation.
Sridhar Chityala: Well, there has been a group that is working to bring Iran back into the kind of mainstream, whereas the historical UAE or the Saudi, Sunni groups work off the lobby groups in Washington DC. The Iranian and other group seems to have been far more deeply scattered around the country and they kudos to them. They’ve done a very good job in making sure that their voice is heard and they’re getting rewarded. These 120 million comprises of 40 million dollars for some economic upliftment, 25 million dollar consists of some money for uplifting the territories, another 40 million dollars is this is covid money. Remember covid money going to Palestine. Covid is for treating people in the United States not for treating people in Palestine.
Sree Iyer: Yes, indeed and in the major news event of the day we had talked about this a couple of days ago Major League Baseball has called off its All-Star game that was to have taken place in Georgia. The governor of Georgia has blasted MLB for the same. Sridharji, there is a lot of undercurrents here who brought about this whole thing and how does the new law of Georgia discriminate against anyone? I had a look at it and I am completely confused, sir. I don’t see any discrimination.
Sridhar Chityala: You don’t there was a very interesting press conference yesterday, Friday between and the media with regard to Georgia, so she was questioned. She was going to say that this is basically the voting law that completely discriminates against African Americans in terms of voting times. So the question that was asked about the law is very clear that there is very flexibility in terms of the voting duration. It starts at 8:00 finishes at 5:00 but the law permits the early starting at 7:00, it is also flexible to stretch it beyond 7 to 7:30. So that means we have now had a Time window which is around 12 and a half to 13 hours. So, therefore the question was as tell me. How does it discriminate? Okay. How does it discriminate this extended time and she will start to backpedal. The second question was asked which is you wanted water because the weather can be hot and so, therefore, the water tables, so that people may go drink water, comeback. There may be a delay because of long queues etc. So they said that the water bottles are kept at Social distancing 150 meters. So at regular intervals, there are water tables and you can drink the water when you want. That part of it is also addressed. So the question was asked again to explain whether any data is there that points out this delay and this facility mitigates specifically African-Americans who are returning late from work. If you are returning late from work, you have a 2.5 hours’ time window that’s available plus more counties are opened, more places are open for the elections for the voting to happen. So no explanation has been given.
Now, the businesses which she is fearing their appraisal of because his major corporations in you have Delta, Coca Cola, you have major businesses, hotels, restaurants so, therefore, they’re afraid that this could create some kind of a union backlash. So the story is it is more plus it is more of Stacey Abrams drama with the Democratic party leader who is pushing and pushing and pushing and they are basically using this system and it is yet to be proved on what happened exactly in Georgia senate elections. That’s number one.
The second point that we need to touch on is around a much more serious issue which we touch on this little bit yesterday. The use of serial numbers versus the signatures because the signature verification did not work. There was a lot of missing signatures and authentication problems. So serial numbers. So the question is around whether there is a serial number matching between the application received versus the application filed. There is another area of contention. So the question was asked why is a serial number matching incorrect? Why? Is it because they take a ballot and they throw that ballot and they take another ballot. This is where the issue is. So there seem to be some issues around the consistency of the ballot received and the consistency of the ballot posted whether any of these things are going to come to the surface, we don’t know. So the businesses in most of the Silicon Valley and other businesses are left-wing rag tags. While they don’t want unions in their offices, the dispute between Bernie Sanders and Amazon that is going on around earlier session of the elections and right to work and right to earn and so on. So they get away with this hypocrisy because they pay money to all these specific groups, but then you raise this issue. So where has this led to?
This has now led to sports. Now, who control Sports? I looked at one sport which is NBA. Close to 15% to 16% of the income comes from China for NBA. We are going to do the analysis of how much comes from MLB and how much comes from the NFL and how much comes from other sports. So there is a significant amount of surrogate influence also coming from the external forces by virtue of money. The more money that you put in, the more influence that you have in influencing these people by stirring up their emotions. So we are now into a hot potpourri and maybe we are beginning to see some kind of deconstruction of the sport. This is just the tip of the iceberg. This is MLB not even NBA. Where is this going to go as the story develops remains to be seen? Big money, big influence and we already covered that the Chinese have quoted a lot of the black schools and black colleges and basically are advocating this equality, neutrality, and such other rules and laws that are creeping into the system. But very worrying signs.
Sree Iyer: It has been our contention that the BLM has been hijacked from under them. It’s being done by somebody else and I think all these kinds of actions only lead more credence to the theory.
In global news, sir. ‘Use gun and a force to unify Taiwan’, say Chinese people as we get closer to the brink. Sir, is this really the Chinese people or the Chinese media, which is actually the government’s mouthpiece saying this.
Sridhar Chityala: The government mouthpiece. The government mouthpiece is basically saying it but again they are stirring up the people, that’s what happened. So many of my Hong Kong friends told me that, not the Hong Kong – Hong Kong but the Mainland Chinese Hong Kong told me ‘Sridharji, mark our words.’ Look I spent more than a decade and a half in China in Hong Kong and in that specific region in the early years, so, some pretty deep insights and also worked with a couple of Leading people in the region during that particular phase. It is very clear that that they will enforce their will and the latest developments that we covered the Five Points that is changing and reshaping Hong Kong. I think what we are seeing is they are hell-bent on Taiwan. So whether there will be a World War that will eventually break out as a result of Taiwan remains to be seen, but Taiwan has become a very very emotive issue for China.
Sree Iyer: Well, sir, if that is how China is going to be broken up, so be it, what can we say. These people seem to have some sort of a war wish and…
Sridhar Chityala: It’s not going to be. This unilateralism has never worked. Even during the Cold War, we had a balancing of power between Russia and the US. So there’s going to be some significant kind of consequence that is going to come out of this.
Sree Iyer: As China approaches ASEAN to break the encirclement of South China, France will be leading QUAD Naval drills in the Indo-Pacific challenge. One more thing that you had mentioned, sir, in a previous conversation that France is taking a very active part now in QUAD as opposed to what was expected to be Britain.
Sridhar Chityala: Indeed. They are leading the effort. The efforts kicks-off on Monday. It will be a very very coordinated set of drills orchestrated and led by France, I think it’s France, and Japan, and Australia which brought India to the table. So India will be an active member and they’re coming over to cover from all the way from the Indian Ocean to the Indo-Pacific region. So French clearly see this as a very strategic roadmap and they now see themselves as the power emerging from Europe; independent, strong, clear, and precise. Let’s hope that Emmanuel Macron wins the election and continues to drive the global agenda in a fair and objective manner. French have very strong submarines and it has also has got phenomenal artillery and machinery and equipment. So France will be an invaluable ally in terms of helping India with other countries to take this thing forward.
Sree Iyer: Japan and United States aim for a chip supply chain deal in April Summit. So this is what again we talked about yesterday that semiconductors are supposed to be now considered as one of the critical areas and if for example, Taiwan were to be invaded and occupied by China, then essentially the world’s complete semiconductor requirement will be hands of China.
Sridhar Chityala: It will be in the hands of China. Remember, Taiwan has up until more recently had significant capacity in China. There are investments on either side. So Taiwan has a footprint in China as well and to a great extent, the United States and Japan have been trying to weave Taiwan to expand their Horizons. We downscaled the semiconductor manufacturing industry under the pretext of cost. If you go back, since you come from the industry and you’re extremely familiar, once upon a time, Texas and Arizona and even California were the global headquarters of the semiconductor fab industry.
Sree Iyer: Yes, yes, Texas Instruments.
Sridhar Chityala: Texas Instruments, Motorola, Intel etc. So we should make our own semiconductor. So I think one of the good things about the Biden plan is, there are $54 billion allocated towards investing in capital support programs for the semiconductor industry. If that is properly deployed and if that is basically directed towards some of these companies from capital augmentation, then we can see clearly the emergence of the chips coming in. In the meanwhile, even Tesla has raised its head and said look, you don’t need I’m already making lots of the chips. And Intel is going to re-enter. I just heard that the press releases that Intel is also re-entering the manufacturing game shortly. There are very specific programs that are pretty good if the capital is properly directed. But, this is good news that Japan and the US are coming together to create a supply chain.
Sree Iyer: Foreign diplomats are fleeing North Korea amid Food and drug shortages. Is something new sir? What happened?
Sridhar Chityala: Well, I think it looks like the pandemic is taking its effect. Not much information is known. There have been all kinds of issues around that region. There’s been less transportation if we remember, because of the covid there has been fewer logistics and less food supply and North Korea is reliant on that. So, probably there is a shortage of food, shortage of medicines and creating problems so, people are trying to flee. Two things are happening as a result because North Korea means China has a problem. So, the South Korean foreign minister met, a couple of days ago, the Chinese foreign minister Wang Yi to discuss the Korean issue amid the rising tensions between the US and China. In the meanwhile, the United States is now trying to hold a dialogue with Korea and Japan to see how this North Korean issue can be tackled. You have no hope in hell with Japan and South Korea and the United States with this particular regime which is not sympathetic to North Korea. The only two people who seem to have tackled North Korea to some extent are the Chinese and the second is Trump. He was able to neutralize him. So there is again trouble brewing in that part of the region.
Sree Iyer: In India news, India’s vaccination drive continues as covid Giants gains traction in States. So covid again under control except for a few States. India is still much on top of the covid problem.
Sridhar Chityala: India is now reducing the age threshold. One state seems to be in the alarm which is Maharashtra. So apparently 46,000, I don’t know what exactly is the scientific explanation that can be given, I’m also told that, when I talk to upscale population, there is a lot of organized and monitored programs to do testing, monitoring, giving treatment for a fee, like a concierge type of a fee, apparently in Maharashtra or in Bombay. But having said that the cases are rising clearly in Maharashtra, that’s one state. But there are some limited restrictions coming in some of the states like Karnataka. Is it because they’re not following social distancing? Is it because they are sloppy or the rules? We don’t know. But clearly, I think it’s on the rise. When you actually look at the overall numbers. It’s still not frightening from a noble numbers point of view. But the rise in cases always causes concern and anxiety in India.
Sree Iyer: Yes, and the ministry of external Affairs states are there is no ban on covid vaccine exports as shipments continue. So India is still pushing on with this vaccine diplomacy. And India is also very much focused on its defence build-up and preparedness as on one front by continuing to progress the economic agenda. So India is trying to fire on all cylinders, aren’t they?
Sridhar Chityala: Yes, India is trying to Fire and all the cylinders? Apparently, they have now allocated around 2100 crores for building the entire infrastructure around Ladakh – Galwan in the Himalayan region. All those roads are likely to be connected with new highways to provide faster mobility and so on. We also touched on that connection, the Himalayan connection, which gives rapid movement and decreases the time that it takes from the Himachal Pradesh into the Leh region. So they are very much keeping an eye on what’s happening in that specific region, not letting the ball drop, and moving things forward. These new Rafale aeroplanes that have landed in the Rajasthan Air Base are also going to augment further in terms of their capabilities on the airside. So I think India is saying that while I continue to build the economic programs, yes, people say that you know macro reforms in slow. India is India. India is a large bureaucracy. It is now crossed 3 trillion dollars in its economic output.
Sree Iyer: Sir, the markets are closed for Good Friday today and the Dow futures are rising 150 points on the back of an excellent jobs report. We mentioned the numbers in yesterday’s news and the US economy adds 916,000 jobs as unemployment now falls to 6%. Do you expect this trend to continue?
Sridhar Chityala: I do because it is the aggrieved sector that is coming back to work. If you recall, SME is one of the big areas that create employment and cash and circulation and business and those sectors are your bars, your pubs, your restaurants, your establishments, your leisure and hospitality kind of Industries. So all of those things are getting reopened. People are coming back. I am told today, the latest news is that Florida has seen a fall in cases and there is also a likelihood of lifting up the ban and that means the restaurant business and the casual labour business, which is a combination of cash plus incentive to the workers is coming back. One of the big things that people talked about is that the big casualty of covid-19 is this industry. Will it come back? We said it will come back because the United States is very much reliant on this hospitality industry that is food and beverage, leisure, bars, restaurants, games, this specific industry is where the maximum employment and maximum cash circulation takes place. So it’s very good news. That’s where the growth has come from.
Sree Iyer: And that’s it for today. Have a great weekend, and we’ll be back Monday morning, fresh, bright, and early. As always Namaskaram Sridharji and we will see you on Monday morning.
Sridhar Chityala: Namaskar, and thank you. Have a wonderful weekend.
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