Monday, November 29

Month: October 2021

How Powell’s Comments on Inflation Deflated Gold
All Posts, Economy and Government

How Powell’s Comments on Inflation Deflated Gold

By: Neelesh Raj During an online conference hosted by the South African Reserve Bank, FederalReserve Chairman Jerome Powell stated that supply-chain issues would eventually be resolved.He also claimed that the current stagflation caused by the supply chain bottleneck would bescaled back, bringing inflation back to the Fed's current goal of two percent per year. The impactof his statement can be seen on the securities market, causing the price of gold to drop bynearly $30 per ounce, bringing the gold price below $1800 once again. Historically speaking, investors usually would invest in government bonds and bullion(such as gold) when they believe in economic instability within the equities market. This woulddecrease the money invested into equities, leading to a form of stagflatio...
The Great Resignation
All Posts, Economy and Government

The Great Resignation

By: Marvi Ali During the onset of the pandemic, employers were furloughing and firing workers rapidly, in an effort to downsize. Unemployment peaked in April 2019 at 14.8%. There was great uncertainty as to whether workers would find any jobs, let alone better jobs. However, the U.S. Bureau of Labor Statistics recently reported that, in August, 4.3 million Americans had quit their jobs, setting a new record but following the trend of rising quit rates from previous months. Economists have increasingly begun to recognize this new phenomenon as “The Great Resignation,” which is a term coined by Anthony Klotz, an organizational psychologist at Texas A&M University, in 2019. He predicted a mass, voluntary exodus from the workforce, and this is exactly what is happening. We are witnessi...
The Current “Global” Energy Crisis and Why the US Has Not Been Affected
All Posts, Sustainability

The Current “Global” Energy Crisis and Why the US Has Not Been Affected

By: Ron Ye India and China, mainly reliant on coal for electricity, are suffering from a coal shortage. The price of natural gas in Europe is skyrocketing. Much of Lebanon is suffering from power outages. These pose some questions. Why are so many regions suffering from energy problems? Is there a global energy crisis? Why has the US seemingly not been affected by it? To answer these questions, we must analyze each of these regions.  India 70% of India’s electricity comes from coal. What is concerning about this fact is that India has nearly depleted its coal reserves. A cause is that India’s energy demands jumped after their COVID lockdown ended. Although India's domestic coal production has been rising in recent years, the annual monsoon disturbs the transportation and min...
Winter Is Coming: Labor Shortage and Supply Chain Chaos in Post-Brexit Britain
All Posts, Economy and Government

Winter Is Coming: Labor Shortage and Supply Chain Chaos in Post-Brexit Britain

By: Iris An 2021 was supposed to be the year the U.K. breaks free from the European Union and forges ahead as a free trader, delivering the benefits of a new, confident “Global Britain” to workers and companies at home. Nevertheless, as the first winter after Brexit draws near, the country is in a precarious position, facing an onslaught of new economic crises with soaring gas prices, supply shortages, and a shortage of overseas workers such as HGV drivers.  Although the pros and cons of Brexit have been discussed for a long time, the crisis as the winter approaches has made it necessary to review the potential outcomes. Is this shortage merely a temporary transition period, as the UK turns from a EU country to a more global trader? To what extent should we blame the covid— ine...
Zimbabwe: From Hyperinflation to Hope
All Posts, Economy and Government

Zimbabwe: From Hyperinflation to Hope

By: Anton Kozyrev Zimbabwe has had a long road to its present-day state -- including from an economic standpoint. While the economic activity and history of the area dates back 100,000 years, including the emergence of kingdoms such as the Rozvi and Mthwakazi, the land that is today the Republic of Zimbabwe was integrated into the present-day economic system in the 1880s. This was, of course, when the area was colonized by European powers. After the Portuguese had tried unsuccessfully to invade, it was British mining magnate Cecil Rhodes who proved instrumental in enabling the British Empire to colonize the land. This marked the beginning of company rule in the state that would be called Rhodesia in his honor. This state would continue to exist in a variety of administrative forms, ...
Can Lucid Be the Next Tesla?
All Posts, Technology

Can Lucid Be the Next Tesla?

By: Ke Tang Competitions in the electric vehicle industry are intense. Multiple electric vehicle startups are making promises to transform the automobile industry and beat Tesla, but only a few of themare performing well. Lucid Motors, a startup founded in Newark, California, is one of the playersin the EV industry with an ambitious game plan to come up with “the best car in the world.” Lucid’s mission is to inspire the adoption of sustainable transportation by creating themost captivating luxury electric vehicles centered around the human experience. On July 23,2021, Lucid Motors completed the previously announced merger with CCIV (Churchill CapitalCorp IV) through a SPAC deal. Bank of America served as the financial advisor of Lucid Motorsand Citigroup served as the M&A adviso...
COVID-19 Booster Shots and Companies Going Back to Work
All Posts, Economy and Government

COVID-19 Booster Shots and Companies Going Back to Work

By: Gianna Minasian On Thursday October 21st, the Wall Street Journal reported that the Centers for DiseaseControl and Prevention (CDC), in conjunction with the Food and Drug Administration (FDA),had approved booster shots for people over 18 years old for both the Moderna and the Johnson &Johnson COVID-19 vaccines. Pfizer’s booster shot had already been approved weeks before. This approval came in the wake of President Joe Biden’s September directive that alllarge companies must require their employees either to be fully vaccinated or comply withweekly COVID testing. In the aftermath of Biden’s directive, companies are scrambling to create policies thatcomply with federal COVID policy. While, last month, only about 15% of companies hadvaccine mandates, an October report by Fo...
Tesla Relocating to Texas
All Posts, Technology

Tesla Relocating to Texas

By: Mi Nguyen Tesla, the multimillion automotive giant, is moving to Austin, Texas. The announcement was made by Elon Musk at a shareholder meeting on October 7th, after months of speculation and clashing between Elon Musk and California government officials. So, what is the motive behind this transfer - the COVID mandates enforced in California, or the benefits provided by Texas government? Elon Musk had made his opinion no secret on the COVID pandemic and COVID mandates that are being enforced throughout the United States. At the beginning of the pandemic in March, Musk had tweeted “The coronavirus is dumb” followed by his prediction that the cases will be zero by April. Both of his statements had been soon proven to be wrong as the pandemic still had not ended today in October...
The Reboot of Nintendo
All Posts, Technology

The Reboot of Nintendo

By: Lexi Blakes If you were on TikTok during the first month of quarantine, then you were probably an onlooker to the peak of the Nintendo Switch craze. Although the console was released 3 years ago in 2017, quarantine proved to be advantageous for Nintendo, as the $300 devices were sold out for weeks at the peak of demand. Families were Target hopping in hopes of scoring one as stores sold out all over the country. As of May 6th, 2021, Nintendo had sold a total of 84.59 million switches, alongside an additional 587.12 million software sales, outselling both the first-generation Xbox and the Nintendo 3DS. The minds behind Nintendo's rebirth seemed to have unlocked the secret to "the historic comeback" and have carved out a space in console history. Three variables may have contributed ...