Investment Newsletter – August 2021
The new wave of global COVID-19 pandemic caused by the Delta variant strain is very serious. The number of new confirmed cases in a single day has reached a new high in the US, Japan and many European countries, as well as affecting Nanjing, capital of East China’s Jiangsu Province. The challenge posed by the pandemic to human society is still evolving. According to a July 2021 report by Kaiser Family Foundation, a health-policy organization based in San Francisco, California, finds that low-income countries won’t achieve substantial levels of protection until at least 2023, at current vaccination rates.
A key part of Biden’s agenda, the bipartisan bill is the first phase of the US president’s infrastructure plan. It calls for USD 550 Billion in new spending over five years above projected federal levels, what could be one of the more substantial expenditures on the nation’s roads, bridges, waterworks, broadband and the electric grid in years. Still, the bipartisan bill face a rough road in the House, where progressive lawmakers want a more robust package.
The outcome with the bipartisan effort will set the stage for the next debate over Biden’s much more ambitious USD 3.5 Trillion package, a strictly partisan pursuit of far-reaching programs and services including child care, tax breaks and health care that touch almost every corner of American life. Republicans strongly oppose that bill, which would require a simple majority for passage. Final votes on that measure are not expected until September / October 2021.
