News Summary 1: https://www.cnbc.com/2020/11/10/investment-opportunities-after-joe-bidens-election-win.html
The article by CNBC's Vicky McKeever provides an overview of Joe Biden presidency's economic implications in the United States. She claims that a Biden regime has a positive impact on both the domestic and global business environment. I agree with this assessment primarily because America’s economic future was heavily linked with the outcome of this year’s electoral process. Vicky claims that having secured majority seats in the House of Representatives would not be enough for Biden to institute more sweeping economic reforms since he is unlikely to control the Senate. However, since the president-elect has been at the forefront in advocating for better control strategies to curb the soaring coronavirus infections in the country, it would be prudent for prospective investors to capitalize on the imminent vaccine stock markets. With a divided Congress, the author suggests that the U.S stock market is the biggest beneficiary.
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Throughout reading of this piece, it seems like the economic outlook for businesses is destined for continued prosperity, mainly due to the personality of Joe Biden. He looks like a leader who is more willing to use diplomacy and a collaborative approach when negotiating for local and international deals, unlike his predecessor, Donald Trump. The article observes that with limited influence in the Senate, it will be tough for the incoming president to take decisive actions on economic policies such as tariffs and taxation. However, with the executive powers that a president, I think Biden could reverse some of the previous government's economic policies, which have generally been considered counterproductive. For instance, the economic tensions between the U.S and China will likely ease. Thus investors in technology and clean energy should strive to exploit this opportunity to grow the economy.
News Summary 2: https://www.forbes.com/advisor/personal-finance/joe-biden-is-president-of-the-us-here-are-5-ways-hell-affect-your-finances/
The article by Forbes’s Anne Smith and Taylor Tepper explores the different ways in which Joe Biden's election will impact individuals, families, and the U.S economy in general. From a detailed analysis of Biden's Covid-19 Stimulus Program, it appears to be a viable strategy primarily because it adopts a holistic approach that will protect millions of lives and ensure that these people maintain their livelihoods. With interventions such as direct payments to individuals and supplementary funding to states, Biden's presidency appears upbeat amid the global pandemic. In the healthcare sector, Anne and Taylor remark that Biden proposes to expand health insurance coverage in a deliberate attempt to reinforce the Affordable Care Act. However, to institute the necessary changes in this critical sector, he will again count on support from Congress.
The implementation of these proposals, I suggest, would be decisive in protecting millions of lives. The article alludes that a Biden presidency would ensure that higher education would be cheaper due to increased government funding to individuals and institutions. Although Biden does not have an extensive student loan cancellation plan, the pledge of $10,000 federal student loan forgiveness per borrower should excite millions of students countrywide who are burdened by hefty student loans. According to the author, Biden's tax policy would be to raise taxes for wealthy Americans, a strategy that signals a vital shift from the approach taken by Trump. Approaches such as tax relief for households and tax levies on multinationals that export American jobs abroad forebode a promising future for the American middle class. The article observes that retirees would also benefit from proposed Social Security and tax relief suggestions on retirement funds. With these changes in place, it is likely that more people, especially the middle class, will be incentivized to join pension schemes and various retirement funds.
News Summary 3: https://economictimes.indiatimes.com/news/international/world-news/what-a-joe-biden-win-could-mean-for-financial-policy/articleshow/78493245.cms?from=mdr
The article in The Economic Times examines the several implications of a Biden presidency on the financial policies in the U.S. Among these changes in the financial industry will be the expansion of the Community Reinvestment Act, which regulates financial institutions' operations. What can be foreseen from such impeding efforts is that banks will be compelled to serve all communities. In the housing sector, Biden promises to prevent the privatization of housing finance powerhouses such as Fannie Mae and Freddie Mac. Such a move should be considered in light of Biden's desire to provide affordable housing options, especially to minority communities. Historically, racial inequality has infiltrated the U.S housing market, and Biden’s strategy should be applauded in trying to reverse the discriminatory trajectory.
The article reports that the president-elect is motivated to end predatory practices that are prevalent in financial services to protect American consumers. What I, thus, anticipate is a leadership change at the helm of the Consumer Financial Protection Bureau to fast-track these changes. Currently, climate change is a hot topic even in the corporate world. The article assert that Biden’s administration will prioritize strict environmental reporting standards for companies to curb climate change. The approach makes sense today since the climate crisis is increasingly becoming an existential threat to the human race and our financial system. Biden also endeavors to protect Americans' assets when they file for bankruptcy. Because the economy has been weakening, this reform will undoubtedly come as a welcome move across the political divide. Another financial policy goal that Biden will pursue is the transformation of the U.S Postal as an institution capable of offering affordable financial services. However, there should be skepticism regarding this recommendation's practicality, which I personally view as a mere way of appeasing progressive voters.
