Sree Iyer: Hello and welcome to PGurus Channel. I’m your host Sree Iyer. Today Sridhar Chityalaji has a sore throat, so, he will not be able to join us. And today is episode number 86, January 29th 2021. We have a lot of items to cover and we are going to straight go to our news items. Here we go.
Former President Trump will not be floating his own party. There were feelers that were put out. In fact, there was even a name mentioned called The Patriot party, but, it looks like he will not be starting his own party after all. He is going to work with the Republicans and plan on a strategy to get the House control back in 2022. Trump met with Kevin McCarthy the House minority leader for the Republicans at Mar-A-Lago and discussed a number of topics including this one.
Now President Biden quotes yet another disastrous path to create a commission to examine possible reforms to the Supreme Court and Federal Judiciary. Franklin D. Roosevelt had tried this in the 1930s and he did not succeed.
President Biden has been on an executive order signing spree. The latest one, he did was to reopen the marketplace, which means that those of you who chose your insurance policies that usually happens a window is somewhere around November of every year, you will have another window to pick and choose which health policy you want to take. And this is perhaps a predicted on the stimulus bill being signed and many people who do not have health insurance today may get enable because that is one of the things that the Democrats are working on to even put money in the hands of illegal immigrants that are in the United States. And I must tell you that this is one of the sticking points for the 1.9 trillion dollar stimulus package of President Biden not being accepted by the Senate.
YouTube deletes videos of Ron Johnson channel, so this continuing process of deleting channels of people, who may not be the voices that everybody expects and this everybody meaning like left-leaning channels and what have you are continuing. YouTube has completely snuffed out Ron Johnson scanner Channel and we will keep you posted on what is happening on that. I’m sure, Ron Johnson is going to have something to say about it.
Court rules allowing late ballots missing postal marked as illegal. Now, this is a big development. We have to try and understand what the implications are? Will this mean that there will be some ripples up. I don’t know we have to wait and see how that thing goes.
In Global News, the Chinese media has intensified its attack against India and India seems to have taken the upper hand after the Galwan incident and now, they are trying to escalate the dialogue trying to run down India’s vaccine solutions. I must say that in vaccine development India is very very strong and we have to see which vaccine the Chinese made vaccine or India made the vaccine is going to come on the top.
China is testing its water with Biden or a little island called Pratas Island that is under a Taiwanese control today. Pratas is a strategic location, the planes flying from Hainan island to the Pacific, the shortest route would be through the Bashi Channel between Taiwan and the Philippines. The ships would pass near Freitas Island as you can see here. This is the Pratas Island just south of Taiwan and it is right in the middle of the South China Sea.
And other Global news India China Arunachal Pradesh standoff, satellite images show over a hundred new structures have been built in the village, which is located on the Banks of river Tsaru Chu. New Village is in an Upper Subansiri district. While the areas belong to India. It has been under Chinese occupation since 1959.
Biden administration changes the stand on India’s bid for permanent United Security Council membership (UNSC) more on this shortly.
Let’s take a look at the settlements that the Chinese have built as you can see it is right on the edge of what is called the Line of Actual Control. India is on the other side of the stream and you can see that these constructions have come up in the last two or three months. It used to be flat land before but, now you have these villages come up from nowhere and it is believed that these are going to be housing the soldiers of the People’s Liberation Army. We’ll have to wait and see what India is going to do to respond to this from what we know, India has been fortifying building garrisons all along the Line of Actual Control. So, there is some measures and countermeasures that India is taking but, it is expected that once the snow melts. There will be action along this Line of Actual Control. It is not known where the flashpoints are all along with the control. It could be in Uttarakhand, It could be in Ladakh, it could be in the place where Bhutan, Tibet and India join, it could be in Arunachal Pradesh. So, we’ll have to wait and see how things develop.
In other Global News, as I was saying India’s permanent membership in the United Nations Security Council is being opposed by people of what is euphemistically called the coffee club that consists of member nations such as Italy, Pakistan, Mexico and Egypt needless to say the Ministry of External Affairs Subrahmanyam Jaishankar has his work cut out as he tries to bring all these countries down to his point of view to allow India to become a permanent member of the United Nations security council (UNSC)
Prime Minister Modi addresses World economic Forum outlining the priorities Jack Sullivan the National Security Adviser to President Biden holds discussions with Ajit Doval India’s NSA Chief.
Islamic terrorists convicted of beheading the United States journalist Daniel Pearl goes free in Pakistan and more will be covered on this in the future episodes.
In the global markets and we are going to talk about this in some detail on Monday when Sridhar Chityalaji is back. For the full year, the United States GDP contracted at a 3.5% annualized rate. This marked the first contraction in economic activity, since 2009 and the biggest drop since 1946. On Thursday the Dow Jones Index rose 300 points, thanks to gains in Disney, Intel and American Express. The S&P 500 climbed nearly 1%. Thursday’s rally follows the worst sell-off in the Dow and S&P in three months on Wednesday. The NASDAQ Composite closed up half a per cent. The future is the market is going to open in another half an hour. The futures fell about 60 points, S&P Futures also dropped a quarter per cent and NASDAQ also is down.
As you can see this is going to be talked with at some length on Monday, the public debt of the United States from December 2019 to December 2020 has grown from 23,000 billion dollars, which is 23 trillion to almost 27.9 trillion in just one year. So, it is grown by close to 4.9 trillion in a matter of 12 months. It is a matter of concern as to how the United States is running up its debts, notwithstanding the fact that there is a pandemic and it has to be seen how the Democratic dispensation under Janet Yellen is going to make sure that this does not result in inflation or in jobless growth.
And the United States Gross Domestic Product over a period of 40 years. It used to be close to 5 trillion in 1985. Now, it is around 20 trillion. If you can see there you can see that 2021, we are starting that almost the same level as where we were 2019, which means effectively the growth for one year has been completely lost and it will have to restart growing and it is expected that by 2025 that the United States economy will be 25.7 a trillion.
And that brings our news segment to a close. Thanks for watching. Please do not forget to subscribe. Sridharji, as I mentioned before we’ll be back on Monday and until then have a nice weekend, Namaskar.
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