Sree Iyer: Hello and welcome to PGurus Channel and I am Sree Iyer your host and with me is Sridhar ChityalaJi, this is episode 47 of weekday new capsule. SridharJi Namaskar and welcome to PGurus Channel.
Sridhar Chityala: Namaskar, and good morning all. Look forward to another wonderful week coming up.
Sree Iyer: So, let’s start by looking at what is happening with the election results in the United States. Can you quickly walk us through various States as to what is happening? Because this is the most critical week, in my opinion, I could be wrong about it, as December 14th is when everything needs to be wrapped up. What are your thoughts are and where do things stand?
Sridhar Chityala: Great, so we’ll start with Wisconsin, I think Wisconsin has called for a kind for state hearing that’s scheduled for December 11th, in the capital. They’re one of the last states to get through this process, so, we’ll know what it is. The Supreme Courts have all declined any alteration in the results. So, they are following the due process in terms of hearing the complaints.
As far as Michigan is concerned which is they are in the process of that forensic analysis. That should get completed sometime today and we should be having the forensic results coming out of, Michigan. And what flows from that would be interesting.
As far as Pennsylvania is concerned that there was Mike Kelly filing litigation and the legislature people waiting to elect to see what happens in the Supreme Court. So, Sam Alito, the circuit court judge, who is from Supreme Court, who is from SCOTUS has advanced the date and he will hear the case, the response from the state to Mike Kelly’s suit 9 a.m. tomorrow, which is Tuesday. So, I think it looks like Pennsylvania will have a quick hearing and then probably escalate to this SCOTUS.
As far as Georgia is concerned, there was a major election rally by President over the weekend for the runoff races. And what we are seeing there in Georgia is they have declined pretty much everything but they are doing the voter forensic analysis and limited voter audits in Georgia. And so what comes out of that will see, will be the next steps.
As far as Nevada is concerned, they have heard everything and seen everything. They also had a limited duplicate sample voter least validation. Now, the Trump legal team has made a proposition which is to say the initial results prove that there were results, which should be set aside but counted in favour of Biden. They believe that number to be north of 40,000. So, should that be the case then President Trump wins the election? So that’s one stream of work that is going on.
The other stream of work is a bunch of activist groups have made a plea to the Department of Justice that when a voter file email is sent to the Secretary of State, the copy of the email seems to be sent to one someone Waqas Butt, who is the CEO of Kavtech systems based in Pakistan with links to the intelligence in the Army? So how that case will be taken up would be very interesting.
As far as Arizona is concerned, they recall that they wanted to do a hearing, so they’re going ahead with their hearing which is more a public Hearing in terms of trying to understand, from what the objections to the voting process were? So, I think we have reached as you rightly said, we have reached a process where I think it looks like either it goes to the legislature or it is going to SCOTUS.
Sree Iyer: Sir, let’s take a quick look at some other things that are coming on social media one. One only one thing, I wanted to mention sir. Looks like, there was a test done on the Dominion systems where 100 votes were given to cast both the Trump and Biden and the result is astonishing that Biden got 113 and Trump got 87. Is this something that is a real thing or is it just something that is doing the rounds in social media sir?
Sridhar Chityala: Well, I think the simulation results, whether it is 1.13 to 0.87 in terms of the probability allocation on the voter counts. As you recall there has been an issue on the vote patterns as well as the voter allocation. So, I would not say that, it is what you call malice or whether it is fake news that is spreading, there clearly is a problem. There are three specific problems on Dominion systems one, which I have alluded to which is the invalidity in terms of the allocation. Number two is that fraudulent votes or the blank votes were assigned to Mr. Biden and not discarded. And number three; there was this abnormal spike that they noticed either as a result of the system being open on the internet or when people were attempting to use USB drives and uploading votes. This was noticed in Georgia, Nevada and also in Michigan.
So, the story is that to your point, yes, there seem to be clear inconsistencies, which has not been quantified. Right now, the forensic analysis deals with two things; one is whether they were external connectivity, number two, whether the software had the potential to be compromised and whether that is potential for breaches, which can influence the counting patterns. I think that’s what the current analysis is. So, I think there’s are a lot of problems, there’s another report, which I have seen which I don’t want the report as yet, but, we can see the whole these Dominion systems and so on. Besides, if we recall the server’s being in Germany and Spain and then you have the systems being open to Iran and China and opened to internet connections. In Georgia, somebody going around and putting USB drive, even in including their photographs. So, there’s one more such major issue looming. Let’s see how that plays out and maybe we’ll report tomorrow.
Sree Iyer: Thank you, sir. Let’s take a quick look at what is happening with coronavirus, looks like this again another Spike that has happened sir. Can you please update us on the worldwide situation starting with the United States?
Sridhar Chityala: I think, worldwide one key headline everywhere you touch is the corona, doesn’t matter. Previously, Asia was left out but, since Thursday or Friday last week, now everybody is panicking from Japan, Korea Thailand Philippines, and Malaysia everywhere there seems to be spurred but not at the same magnitude. But, remember these countries don’t have huge Hospital facilities and infrastructure. And similarly, I think that there in Europe is rising cases, I think in the United States, we had on an average 100,000 cases rising over the weekend. So, where we are in the United States, we are about right now as we speak, we are about 15 million cases and inching close to 300,000 deaths. Now, having said that for 8.9 nine million people have recovered over 6 million people active cases, but even with active cases, more serious cases are relatively smaller in number
India seems to be doing exceptionally well, India is inching towards the 10 million and I think they are about 9.6 billion, relatively small number 141 deaths and mind you their active cases is less is close to 400 or less than 400. So, India has done a remarkable job in terms of managing this. I think the next on the list is Brazil, they also seem to be containing this about 6.6 million cases in Brazil, and they’re cured and the active cases is only less than half a million and 170,000 deaths.
Where we are with the program’s, I think that the US is ready to kind of launch its program, just revise the numbers 20 million to be vaccinated by end of the year and then 100 million. The number goes from February to March to March April, so, they have a massive program to vaccinate in March/April. Pfizer and BioNTech is the one which is getting expedited, this is the two-dose mechanism the initial small dose and then the larger dose. Last night the news is that in the United States anybody at will who choose to be vaccinated will have access to vaccine in Q2, that means the supply would have dramatically increased.
The UK is launching this week, they’ve already assigned Pfizer- BioNTech to launch the program. Then you have Russia with its Sputnik, they’re commencing the vaccination program. I think India is ready.
The world is ready also, apparently this BioNTech, Pfizer BioNtech requires cold storage facilities. So people are ramping up their Cold Storage infrastructure facilities besides the distribution capabilities. They’re doing that. India I’m told is contemplating something like a hundred Indian Air Force planes and helicopters to do the distribution and also come up with augmented cold storage facilities. I think the moment Moderna gets cleared and the equivalent versions in India and other places you may see much more accelerated kind of model in terms of the vaccines. But the challenge is how do you kind of persuade and convince people, so many political leaders are raising their hand and saying ‘yeah, we’re going to vaccinate ourselves first, so the world follows us.
Sree Iyer: Thank you, sir. Let’s take a quick look at the global news. First off, I’d like to lead with the Norwegian or Norway’s Deputy Central Governor appointment Jon Nicolaisen and his appointment has been denied because of the links of his wife who happens to be a Chinese National. Is this something that shows the depth to which China has infiltrated many systems and many countries, sir?
Sridhar Chityala: Well, I think that the word China, I think most certainly the United States and to some limited extent what’s happening in Asia has certainly sent alarm bells ringing around the world on the ability of China to penetrate because everything works on a trust basis. So in the case of Jon Nicolaisen is, he has a Chinese wife, and she did not pass the security clearance. I’m assuming that he gets married and he’s fine and whether the whole background was checked, was not sure. So, therefore, he has stepped down. She did not pass the security clearance. Now, that has cascaded its way into a number of countries, but I’ll let I’ll pass for a minute and then pass it to you to say that we want to go further on this.
Sree Iyer: Sir, let’s just pack it for the moment because we have so much to cover. What is happening in Hong Kong, sir? The US is making some counter moves against the Chinese government and looks like now we are seeing a trickle of companies move from Hong Kong into Singapore.
Sridhar Chityala: Yes, as far as Hong Kong is concerned Joshua Wong and Agnes Chow, the arrest of the two activities and the suspension of the legislative council members were pro-democratic has sent again warning bells because they have had a series of incidents from suppression of demonstrators to the suspension of democracy in the legislative Council. So there is a growing fear that the Draconian regime is going to be back. So, as a result, US First post some sanctions on a limited number of people, they delisted Hong Kong as a preferred destination as we speak there is a ban that is being imposed on 12 Chinese CCP leaders, as a response to the continued Draconian measures of CCP. And institutions are beginning to move. The first set of industries that are moving naturally is finance because Hong Kong is a major Finance Center. So first set, I think that Deutsche Bank and one more institution which has not yet gone public with its name, so two institutions and we may see more exodus happening from Hong Kong as a result of this. And Singapore is certainly one of the destinations. Japan is also vying for the same, and Korea is also vying for the same. But it looks like Singapore is the first Port of Call for many of these institutions to kind of migrate.
Sree Iyer: Sir, let’s take a quick look at what is happening with India. First off, Thanks to the United States help India is now developing an integrated Naval architecture including drones and helicopters to expand its presence in the Malacca Strait, in the Indian Ocean and so on. What can you tell us about that sir?
Sridhar Chityala: Well, I think that it’s quite phenomenal that India has now got access to the McDonnell Douglas helicopters, and they have a whole suite of drones and the naval software architecture, which is being implanted into the gear as well as the ships basically to combat any potential threats that come from the submarines. Chinese submarines are considered to be a superior and major threat in Old Pacific, Indian Ocean as you said Malacca Straits, and so, therefore, I think that what you’re saying is that silently and certainly India has revamped its architecture. India has also revamped its architecture in the Ladakh region. There was also another 20 – 25 million dollars worth of sales just completed with various kind of software and other services. That is the category that is given to revamp. So clearly while this these things go on India – US is on the march in terms of beefing up and preparation for any contingencies that can arise during this intervening period of uncertainty when there is a transition in power.
Sree Iyer: So quickly, sir, Nepal’s foreign minister is slated to visit India. Is there a thaw in relations with Nepal now?
Sridhar Chityala: I think Nepal relationship is fantastic. I think that it is smoothened. And it seems to be moving towards normalcy after three visits. One, the foreign secretary then the armed forces head as well as the National Security advisor. The foreign minister of Nepal is visiting India for broadening some of the dialogue around the trade. They were also reset the border so there’s no border dispute as well. So I think along with Bhutan and Nepal India is moving well with its Himalayan Kingdom neighbours while China may be a bit distracted. So I think that that’s moving along very well. Since you raised India, I think the Indian economy contracted by about less than the predicted 9% to -7.5%, they expect higher growth in the next year. So, therefore, I think, that also seems to be doing well.
Sree Iyer: Sir, let’s take a quick look at markets and economy. We are 17 minutes into the program one minute for $908 billion stimulus program. Looks like Mitch McConnell is beginning to get on board with that idea.
Sridhar Chityala: I think he is getting on board with the idea, he is negotiating too. I believe that there is an imminent stimulus. That we can, now, safely assume before Christmas there will be a stimulus because President Trump has agreed, Mitch McConnell has is agreeing too, the Republican senators are agreeing too, and Nancy Pelosi is saying that she is willing to compromise in the interest of people because the stimulus is badly needed in covid. So we may have a number somewhere between $700 – 900 billion and the stimulus package will be rolled out. The markets, to wrap-up, the markets rose to 48 points on the back of some very positive kind of economic results over the weekend, on Friday. And the S&P is up. The Dow is up. Surprise, surprise, the tenure rates are at 0.97. If you recall a month ago we at 0.01. That shows that there is movement in the bond rate. And the forecast for 2021 is pretty good. So that’s on the markets and the economy side.
Sree Iyer: Sir, Lastly on tech, it looks like Tesla is moving away from California to Texas.
Sridhar Chityala: Yeah, so, I am very sad to say that you folks have to do much better, Mr Sree Iyer with your tax structures and so on in California and labour laws because I think costs have been one of their big problems. If you recall Elon Musk had written to the people that they really need to look at the costs and bring the cost down to improve the margins. So he seems to be moving towards Florida. There was also a rumour that he apparently has made a statement that he is open to a merger with Daimler. So these are the two major news items as far as Tesla is concerned.
Sree Iyer: Thank you very much, sir. That brings us to a close to our weekday program. We will be back as always tomorrow morning at 5 a.m. Pacific Standard Time 8 a.m. Eastern standard time and 6:30 p.m. Indian Standard time. Please do not forget to subscribe to our Channel and also to donate to our cause. Namaskar and Thank you very much.
Sridhar Chityala: Namaskar and have a wonderful week and a great Monday.