News Corner: A Summary of Global Event

     A lot is going across the globe, and in the United States, there is more going on than ever before: the days leading up to one of the most competitive and controversial elections in American history. 

     But, rather than talk about the broadcasted events  such as the death of Justice Ginsburg and President Trump’s appointment of Amy Barrett to the Supreme Court, I’m going to summarize global current events that aren’t much talked and discussed in the mainstream media.

     More than one million Americans have cast their ballots for the next president of the United States, as of September 28, 2020, when the two candidates have not met face to face to debate at all. 

     As a responsible voter, one should vote for a president solely based on the policy he/she presents.How can people be allowed to vote beforehand when neither of the candidates have gotten the chance to present their share of ideas for the next four years for the United States?  When neither of the candidates have properly debated, how can voters make an educated decision? That’s what is still unclear.

     Next up is the coronavirus. It is having a tremendous impact on economies on all scales. Yet, how are multi-billion dollar companies able to withhold rising stock prices, when entire supply chains have been cut? Economists have pretty much run out of letters to call the current economy of the United States, so they’ve called it a “K” shaped economy, but not without reason. 

     Stock prices are rising with the Dow Jones Industrial Average being at a very high price, but many companies are not yet operating at full capacity. Employees are being pink-slipped left and right, and profit margins have been greatly reduced in service-oriented industries, such as airlines. Delta Airlines, with others soon to follow, waived change fees as a whole, which will result in a net loss of about 3% of Delta’s annual revenue.

     One reason that the share prices of such companies are rising is that the common public is under the impression that once the coronavirus goes away and things return to normal, many companies will return to operate at full capacity, thereby generating more profit, contributing toward a direct gain in the price of shares. Although these shares are steadily rising on a day to day basis, they aren’t at the range of where they were in January or February.

     This is the only possible justification for the continuous rise of the stock market. This is an instance of showing that contrary to popular opinion, great numbers in the stock market don’t necessarily indicate a healthy economy.