Image source: https://www.pionline.com
1. Biden‘s Stimulus Plan may further inflate Epic Bubble
On Jan 22, Newsmax reported that Grantham, the value-investing legend and co-founder of Boston-based GMO, predicts that Joe Biden’s economic-recovery plan will propel them to perilous new heights, followed by an inevitable crash. Grantham has “no doubt” at least some of the $1.9 trillion in federal aid Biden is seeking from Congress will end up being spent on stocks instead of food or shelter. He envisions a collapse rivaling the 1929 crash or the dot-com bust of 2000, when the Nasdaq Composite Index plunged almost 80% in 31 months.
2.U.S. District Court denied the request to force Amazon to relaunch service for Paler
On Jan 22, U.S. District Judge Barbara Rothstein rejected Parler’s request to have a preliminary injunction requiring Amazon Web Services (AWS) to restore its services, basing the decision on the claim that the social media site hosts “abusive” and “violent” content. “Parler has failed to meet the standard set by Ninth Circuit and U.S. Supreme Court precedent for issuance of a preliminary injunction,” said Judge Rothstein.
3.Yellen nomination was approved by Senate panel; final vote set for Monday
According to the report of Reuters, the U.S. Senate Finance Committee on Friday unanimously approved Janet Yellen’s nomination as the first woman Treasury secretary, indicating that she will easily win full Senate approval, but Republicans called for her to work with them in developing economic policies.
4. Feed prices may become the last straw to crush farmers in aquaculture and poultry farming
Since Jan 7, South China, East China and other major aquaculture production areas of feed prices have announced a price increase. For this time, feed prices for livestock and poultry increase first, aquatic feed prices will soon follow. The order of aquatic feed price increase is also very consistent with the usual “laws”– South China was the first to rise, and then East China.
The price of aquatic feed is really not cheap in 2021. Would the factor of feed price increase become the straw that crushes some farmers? In these years the profitability of the aquaculture and poultry farming is poor, and these farmers even lose money! Can they still hold up in 2021 again?
5.Loncin Holdings has as many as 32 overdue debts with a total amount of over 6 billion yuan
On Jan 20, Loncin Holdings Limited announced that some of its debts were overdue due to certain company’s long-term default of a large amount of money and the inability to obtain new loans due to changes in financial policies, resulting in a tight capital situation. According to the announcement, Loncin Holdings had as many as 32 overdue debts, involving more than 10 financial institutions such as ICBC, Bank of China, CCB, Chongqing Agricultural and Commercial Bank and Guangfa Bank, with a total amount of more than 6 billion yuan. Most of them have expired last year.
6.Fire broke out at Serum Institute of India, the world’s largest vaccine manufacturer
According to multiple media reports, a fire broke out at the Serum Institute of India on Thursday, local time. The Serum Institute is said to be the world’s largest vaccine manufacturer. According to the firefighters in charge of the rescue, there were no casualties at the scene. Meanwhile, the CEO of Serum Institute, Adar Poonawalla, also said that the fire was located in a plant under construction, so it did not affect the existing vaccine production.
By 【Financial Team】
News Collection: Totoro 、文罡、Wendy
Translation & Writer: Wenyin