A few days from election day and we still do not have a President-Elect. Many votes are still being counting across several battleground states that will decide this election. A recount will be taking place in the state of Georgia, due to the razor thin margins. A previous large lead held by President Trump in Pennsylvania has now switched to a Biden lead. And with more mail-in ballots to be counted, if the trend continues, it appears that Biden will widen his lead, which currently stands at around 28,000 votes. Should Biden win Pennsylvania, he will have 273 electoral votes, which would be enough to declare him the winner. Biden still has several avenues to get to the 270 electoral vote threshold. However, President Trump is in a situation where he has to win virtually every remaining state. This is a tall order, especially given the fact that Biden leads in all contests, but it can still happen. Until all votes are counted, this race will continue.
In other news, we discuss the initial jobless claims figures. Another 751,000 Americans have filed for unemployment insurance for the week ending 31 October. The previous week’s tally was increased by 7,000 to 758,000. In total, amongst all forms of unemployment insurance, for the week ending 17 October, comes to 21.5 million – a decrease of 1.1 million from the previous week. We also note that the Federal Reserve has decided to keep rates at the zero bound and that the Fed will continue to do whatever it takes to “support” the economy and the markets. Expect the Fed’s balance sheet to continue to increase and to make new all-time highs.
With respect to the election – please be patient and civil as all valid votes are counted. This is a record turnout in terms of total votes cast – this is something to be proud of. While it may be easy to chase conspiracy theories and/or to claim fraud or other illegal activity because the vote counting is taking a while – please refrain from going down this path. It’s more important to be accurate than it is to be fast. Each vote is someone’s voice, and their voice deserves to be counted and to be heard. So respect this and pass the message along. Stay diversified, stay vigilant, and stay with The Kapital News. #Election2020 #Vote #Jobs #USA #Economy #Gold #Silver #Liberty #Revolution