Daily Archives: September 18, 2020

The FINANCIAL -- Georgias score and position in the Economic Freedom of the World: 2020 Annual Report is improved to 8,18 points and has been ranked at the 8th position in the top ten countries. Georgia was at the 9th position in the 2019 Report. The Heritage Foundations 2019 Index of Economic Freedom confirmed that the Government of Georgia has taken very important steps in the last years, for example, many reforms have been implemented in order to eradicate minor corruption in the country, reduce regulations, and the country has moved on open market policy and developed the transport and energy infrastructures.

Georgia has taken 8th place among 162 countries in the world in the economic freedom annual report published by the Fraser Institute. Considered as most free Georgia has the following ranking in the five broad areas of economic freedom: Size of Government 7.86; Legal System and Property Rights 6.47; Sound Money 9.30; Freedom to Trade Internationally 9.02; Regulation 8.27. The report measures economic freedom based on regulation, freedom to trade internationally, size of government, property rights, government spending, and taxation. It says that people living in countries with high levels of economic freedom enjoy greater prosperity, more political and civil liberties, and longer lives, agenda.ge reported.

Minister of Economy and Sustainable Development of Georgia Natia Turnava said that Georgia has always been in the top ten of the leading countries lately and that this year we are ahead of many highly developed countries, including the United Kingdom, Germany, Canada, every country in the post-soviet space, which, of course, is due to the reforms implemented by our Government. Fraser Institutes Fred McMahon also stated: Where people are free to pursue their own opportunities and make their own choices, they lead more prosperous, happier and healthier lives.

Economic Freedom of the World assesses countries in five main areas. Compared to the previous year, Georgia has improved its position in such indicators as the Legal System and Property Rights and the Sound Money. It should be noted that Georgia has the highest 10-points in such areas asTop marginal tax rate, Regulatory costs of the sale of real property, Freedom to own foreign currency bank accounts, No Black-market exchange rates, Financial openness, Ownership of banks, and Interest rate controls. The Economic Freedom of the World was developed with the participation of the Canadian Frazer Institute and the World Economic Freedom Network member organizations. The rating measures the quality of the political course and institutions implemented in the country, which determines the economic freedom of the country.

Ministry of Economy and Sustainable Development of Georgia stated that the data, which is processed annually, is based on data provided by a third party and independent surveys. Part of the data used in the ranking is based on the researches and evaluations of such authoritative international organizations as the International Monetary Fund, the World Bank, the World Economic Forum, and others.

According to The Heritage Foundations 2019 Index of Economic Freedom, the Georgian Government has taken several important steps in the last few years, one of them being reducing regulations. Reductions in regulation, tax burden, and elimination of corruption will contribute to the inflow of direct foreign investments in the country. It will also stimulate economic growth. The 2019 Index provides a positive assessment of the countrys monetary stability, as well as fiscal health and macroeconomic sustainability. According to the Index, Georgia has achieved significant progress in tackling minor corruption. The Index also evaluates the reduction of the size of the government, the simplification of the tax burden, and provided fiscal freedom (the total tax burden equals 25,8% of national income. The share of the state expenditure during the last 3 years amounts to 29,6% of the countrys GDP, and the share of the budget deficit is equal to an average of 1,1%, and the state debt share in the GDP is 44,9%).

The Index evaluates the effectiveness of Georgias regulations, namely, the Index finds the liberal business environment to be the driving force of the economy. Starting a new business requires a minimum of time and procedures, also, it is not hard to find the relevant working force though the labor market. Its dynamics are still a challenge to the country. The State increases the subsidies for the development of the green economy and transport projects in the country. It is noteworthy that the Index of Economic Freedom is based on the international rankings such as Doing Business, Global Competitiveness Index, Corruption Perception Index, and the World Justice Index.

Recently, The World Bank has published a new Enterprise Surveys. Over 164,000 companies from 144 countries were involved in these surveys and Georgia was in the top 10 countries in terms of low bribery prevalence. In Georgia, the percent of firms that said they would expect to have to give a gift in order to receive an operating license amounted to zero. The percent of firms that said they would expect to give gifts during meetings amounted to 1 percent and the percent of firms expecting to have to give gifts in order to secure government contracts amounted to 1.4 percent. Read more.

US Department of State report says that Georgia is an open market

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Georgia advanced to 8th position in world economic freedom ranking - The FINANCIAL

India will allow private companies to set passenger fares once they start operating train services, a move aimed at luring investors, as Prime Minister Narendra Modi opens up one of the oldest networks in Asia.

Private players have been given the freedom to fix fares in their own way," VK Yadav, chairman of Indias Railway Board, told reporters on Thursday. But, air-conditioned buses and planes also operate on those routes, and they have to keep that in mind before setting fares."

Railway fares are politically sensitive in India, where trains carry as many passengers as Australias population every single day, and a chunk of the nations poor depend on the sprawling network for their transportation. While the network has been beset by decades of negligence and inefficient bureaucracy, Modis administration has invited private companies to participate in everything from modernizing stations to operating trains.

Moreover, The decision to partly open up the railway sector comes as Modi finds himself with limited fiscal room to support Asias third-largest economy, which is struggling with its first contraction in over four decades.

Alstom SA, Bombardier Inc., GMR Infrastructure Ltd. and Adani Enterprises Ltd. are among companies that have expressed interest in these projects, Yadav said. These projects can bring in investments of more than $7.5 billion in the next five years, according to estimates from Indias Ministry of Railways.

Modernizing the railways is crucial for Modi, who is betting on low-cost loans from Japan to build the countrys first bullet train by 2023. The government has taken steps to increase the speed of passenger trains which can sometimes crawl at walking pace.

India asked companies to submit their interest to run passenger trains over 109 origin-destination routes via 151 trains in July, and has sought investor interest to modernize railway stations including in New Delhi and Mumbai. The current railway network is both congested and aging, dating back to British colonial rule in 1853.

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Govt to allow private railways to set their own fares: Railway Board chief - Mint

Until COVID-19 struck, Mayor Annette Blackwell felt like her city of Maple Heights, Ohio, had finally gotten on its feet again. The 2008 home mortgage crisis had delivered a financial wallop to this suburb thats 15 miles outside of Cleveland. A town that was once mainly Italian and Polish and became predominately African American after World War 2, it witnessed thousands of bank foreclosures on the bungalows that line the streets. In turn, that meant numerous property tax delinquencies among Maples Heights' citizenry, many of whom work in the service sector. Ohios state auditor declared a fiscal emergency. Maple Heights was finally set to escape the clutches of state officials by achieving the goals of a mandated recovery plan when thebudget-busting pandemic came along. Blackwell knew she needed to do something bold. I began looking for every opportunity to bring in revenue, says Blackwell, whose epiphany resulted from a local business owner sharing a news story about TV streamers. I read up. Then I called our law director. I wanted in. On Aug. 21, Maple Heights filed a lawsuit against Netflix and Hulu.

Blackwells city isnt the only one. Throughout the nation, one American town after another isstruggling to figure out how to pay overtime for the city workers who disinfect public transit plus come up with funds so that schools can buy laptops for children learning remotely. Many officials have concluded that streamers should be contributing more for local government services and are shirking legal obligations by not doing so. In the past month alone, lawsuits against streamers, including Disney+, have come from Reno, Nevada; New Boston, Texas; and Fishers, Indiana. Each of these suits is guided by Chicago plaintiff lawyers and stylized as a class action over the issue of whether streamers must pay utility fees. If the lawsuits are successful, thousands of other municipalities will benefit too. But what are the prospects for victory? Its going to be an uphill battle [for cities], says Covington & Burling partner Mitch Kamin. The law just wasnt structured with streaming in mind.

The revolution decades ago to bring cable television into American homes didnt happen without the assent of local governments. Back then, cable operators needed right of way to dig up the ground and lay their lines. To get access, these cable companies agreed to give up a portion of their revenue. In the early 1980s, to ensure that no local municipality was going to hinder progress by imposing unduly high fees, Congress amended the Communications Act to set a cap of 5 percent of revenue on what any local franchising authority could charge.

Flash forward to today as greater and greater numbers of consumers are canceling their pricey cable TV service amid increasing digital options. Cordcutting has been meaningful in many ways, including how its been impacting the coffers of local governments. A 5 percent cut of a cable operators revenue isnt nearly as lucrative as itonce was. Insiders say that cities could be losing tens of millions of dollars each year because of changing entertainment habits. As such, local officials are beginning to respond.

In 2015, Chicago famously enacted an amusement tax that included a 9 percent assessment on the subscription cost of streaming services such as Netflix and Spotify. So far, the city has successfully defended this tax in court, though the legal fight is hardly over, and perhaps more importantly, other localities havent shown the same appetite for imposing such a direct tax on their citizens. Instead, cities like Maple Heights, Reno and New Boston are following the lead of Creve Coeur, Missouri, which for the past two years has been in court seeking to make the streamers pay the same franchise fees that cable operators have traditionally rendered. That said, streaming subscribers might ultimately pay for this, too. Scott Houston, general counsel at the Texas Municipal League, believes that if the lawsuits are successful, Netflix would likely pass through the cost to customers in a line item on the bill.

The streamers, of course, are resisting. The nature of this legal battle has cities and streamers discussing in court the operations of digital video delivery in detail for instance, how a company like Netflix moves data and where it maintains its local servers. It also has the parties attempting to square these operations with what's specifically in the statutes.

For instance, in the Missouri case, Netflix claims it isnt a "video service provider" and therefore isnt subject to rules meant for cable operators.Netflix turns to the relevant law, which defines video programming as what a television broadcast station does. "Netflix does not provide programming comparable to that provided by a television broadcast station," argue attorneys for Netflix, adding that city ordinances specifically exclude services that enable users to access content from public networks. Like streaming. At least that's how Netflix sees it.

Creve Coeur, of course, has a different take. It emphasizes how Netflix maintains privately owned local facilities and pushes a different interpretation of Missouri law. The city's lawyers argue that in 2007, the state legislature took another look at franchise fees with new technology in mind. "The legislature purposely gave the VSP Act a broad scope because it knew that new companies using new technologies that were not in existence in 2007 would likely someday provide TV content to Missourians through the public right-of-way and would similarly need to pay municipalities a VSP fee for that use," states a memorandum.

The streamers have a second big argument and it's the type of issue that could eventually be tackled by the U.S. Supreme Court. They say that the fees would violate the Internet Tax Freedom Act as a discriminatory tax on electronic commerce. As Hulu puts it, Creve Coeur seeks to collect a fee from Hulu because Hulu allegedly provides services comparable to television broadcast stations but Creve Coeur does not collect a fee from those same televisionbroadcast stations.

Creve Coeur argues that the streamers have it wrong: They are the privileged ones.

"In the end, Netflix and Hulu allow subscribers to watch TV with a push of a button just like other TV-content providers, and they have been siphoning subscribers from other TV-content providers without paying any VSP feesputting them at an unfair competitive advantage," statesCreve Coeur in a bid to stave off dismissal.

The city asserts there's no discriminatory tax because what the lawsuit seeks to collect isn't a "tax." It's a "fee" for pushing content through the public right-of-way.

A Missouri state judge recently held a hearing on the streamers' motion to dismiss, and the first big ruling on the subject will come sometime in the next few months.

Although neither Netflix nor Hulu would speak on the record about these cases, the companies see the presence of outside class action lawyers as being the real instigators. Indeed, two law firms first, Korein Tillery, and second, DiCello Levitt Gutzler have hands in all the lawsuits brought so far on this subject. The fact that competing private lawyers have a stake is probably a sign that similar litigation could come soon in other states.

But Blackwell says theres a larger point at stake. Its about respect, the Maple Heights mayor says. In many ways, were doing business together. If theres a natural disaster, we are there providing maintenance on infrastructure so that the end product can be delivered. And if people are in a place of crisis, if they dont have jobs, they dont have time to do Netflix. We help them [our citizens, their customers] so they can sit back and enjoy these services. Why would we not be part of the revenue?

A version of this story first appeared in the Sept. 16 issue of The Hollywood Reporter magazine.Click here to subscribe.

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Why Cash-Strapped Towns Are Suing Streaming Giants - Hollywood Reporter

Executive Summary

Introduction

The K-12 education plans from President Donald Trump and Democratic presidential nominee and former Vice President Joe Biden are sharply divergent and reflect each partys broader approach to policy. President Trump sees education as an issue in which the federal government should play a limited role, allowing state and local education agencies to have more autonomy. In contrast, Democratic nominee Biden believes the federal government should play a more hands-on role in K-12 education. This analysis examines and compares key aspects of the candidates K-12 education proposals.

The Role and Spending of the Federal Government in K-12

President Donald TrumpDuring his first term in office, President Trump has sought to decrease federal spending on K-12 education. He proposed decreasing the Department of Educations funding by 13.5 percent in fiscal year (FY) 2018, 5 percent in FY 2019, and 10 percent in FY 2020. [1] [2] [3] He has continued this trend with his FY 2021 budget, requesting $66.6 billion for the Department of Education, a 7.8 percent or $5.6 billion decrease from FY 2020. [4]

President Trumps FY 2021 budget would also reduce the federal governments influence on state and local education agency funding. The Department of Education currently administers 29 different federal formula and competitive grant programs. Each of these grant programs uses its own specific formulas and criteria to distribute federal funds to states. In other words, states are eligible to receive 29 different grants and each grant comes with specific guidelines on how to use those funds. Trumps FY 2021 budget proposes to merge these 29 formula and competitive grant programs into a single block grant program called the Elementary and Secondary Education for the Disadvantaged Block Grant. Block grants usually entail Congress taking an existing grant and its funding, reducing federal oversight, and then turning the funds over to states. Under this proposal, instead of a state receiving 29 different federal grants, it would receive one lump sum and then have the autonomy to determine how it will distribute those funds to local education agencies.

Democratic Nominee Joe BidenFormer Vice President Bidens education plan calls for more federal intervention and spending in public K-12 school systems, which are traditionally funded and administered at the state and local level. Biden specifically plans to triple funding for Title I of the Elementary and Secondary Education Act of 1965, which is the largest federal education grant program. Through Title I, the federal government provides extra funding to states for local education agencies in high-poverty and low-income areas. In FY 2020, Title I received $16.3 billion in funding; under Biden, that figure could grow to about $48 billion. [5], [6]Under this proposal, the federal government would have much more influence on state and local education finances simply because the portion of state and local funds received from the federal government would greatly increase. The stated end-goal of this proposal is to increase teacher pay and classroom expenditures (commonly defined as instruction expenditures), especially in low-income and high-poverty districts, and thereby improve student performance.[7]

Prior research from the American Action Forum has found that Title I funds received by local education agencies are commonly spent on other things besides teacher pay and classroom expenditures, such as counseling and after-school programs. Thus, absent other structural reforms, tripling Title I funding may not achieve Bidens stated aims.

School Choice

President Donald TrumpDuring his first term in office, President Trump has been a staunch supporter of school choice. The Federal Charter School Program, which provides federal funds for states and local education agencies to spend on charter schools, has seen its funding increase over $100 million since Trump took office.[8] But even with this increased support for charter schools, Trumps vision of school choice has moved toward providing vouchers for families to pay for private school tuition. In 2019, he proposed the Education Freedom Scholarships program, which would create a $5 billion annual federal tax credit for families and individuals that donate to scholarship-granting organizations. Recipients could then use the federal tax credit to pay for private school tuition. Trump also called on Congress during his 2020 State of the Union to pass the accompanying legislation for the program.

Supporters of charter schools were alarmed by Trumps FY 2021budget proposal, however, because one of the 29 programs it proposed including the Federal Charter School program in a block grant.[9] While the administration included language in its budget encouraging states to reserve block grant funds for charter schools, this presidents proposal would cease dedicated federal funding for charter schools.

Democratic Nominee Joe BidenWhereas President Trump equates school choice with private school vouchers, Biden supports the more traditional public charter school. He vehemently opposes federal funding for private school vouchers and for-profit charter schools. His campaign has not provided more specific details on school choice. This current position on school choice is delicate, however. Those on the far left generally oppose all forms of school choice. Those in the center left generally support public charter schools, especially in urban areas where they are the most popular. The Biden campaign will need to balance these competing forces.

Career and Technical Education

President Donald TrumpThroughout his first term in office, President Trump has sought to increase federal support for career and technical education in K-12. In 2018, he signed into law the Strengthening Career and Technical Education for the 21st Century Act, which is a reauthorization of the Carl D. Perkins Vocational and Technical Education Act (Perkins).[10] This legislation allows states to spend more federal funds on skills and trades courses throughout K-12. Perkins receives about $1.2 billion per year in federal funding.[11] His FY 2021 budget would increase federal spending on Perkins by about $900 million.[12]

Democratic Nominee Joe BidenFormer Vice President Biden has also indicated his support for increased federal spending on career and technical education. His plan specifically mentions that he would invest federal funds into vocational training and create partnerships between high schools, community colleges, and businesses.[13] He also wants to allow Pell Grants for dual enrollment programs; in other words, high school students could use Pell Grants to enroll in community college courses while still attending high school. His plan does not provide more details.

Conclusion

While there are some similarities between President Trump and Democratic presidential candidate Biden on K-12 education policy, there is a clear division on how much influence each believes the federal government should have. Both candidates support school choice to varying degrees as well as increasing career and technical education in K-12, but the dissimilarities are more striking. President Trump has continually proposed decreasing the role and spending of the federal government in K-12 education, and that trend would likely continue in a second term. In contrast, Democratic nominee Biden would dramatically increase federal influence and spending in K-12 education if he were elected.

[1] https://www.whitehouse.gov/wp-content/uploads/2017/11/budget.pdf

[2] https://www.whitehouse.gov/wp-content/uploads/2018/02/budget-fy2019.pdf

[3] https://www.whitehouse.gov/wp-content/uploads/2019/03/budget-fy2020.pdf

[4] https://www.whitehouse.gov/wp-content/uploads/2020/02/budget_fy21.pdf

[5] https://joebiden.com/education/#

[6] http://blogs.edweek.org/edweek/campaign-k-12/2020/02/trump-see-29-education-programs-block-grant.html

[7] Ibid

[8] https://edsource.org/2020/trump-revives-calls-for-support-for-school-choice-agenda-despite-certain-rejection-in-congress/623382

[9] Ibid

[10] https://www.edweek.org/ew/articles/2018/07/31/donald-trump-signs-career-technical-education-bill.html

[11] https://www.congress.gov/bill/115th-congress/house-bill/2353

[12] Ibid

[13] Ibid

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Comparing Trump and Biden's K-12 Education Plans - AAF - American Action Forum

MUNCIE, Ind. Some of thecandidatesfor three at-large Delaware County Councilseats addressed an array of questions during a community forum on Wednesday, the second in a series of virtual candidate forums during September.

Several community partners have created the Community Candidate Forum Series,a lineup ofvirtualforums during which candidatesrunning for local, state and federal officecan answer moderated questions alongside theiropponents.

The virtualforums are conductedvia Zoom video conferencing and broadcast on Facebook, as well as on The Star Press website.

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The three candidates in attendance included Republican Ryan Webb andDemocrats Ari Hurwitz and Ralph Dowling.The threenot in attendance were all of the at-large incumbents currently on council: RepublicansJessica Piper andScott Alexander, as well asDemocrat Larry Bledsoe.

Here were some of the key issues they discussed:

As the fiscal arm of the county, how do you intend tobalance the budget?

Webb said one of the first things to look at was difficult cuts in some of the countys largest departments. He said ideally its the department heads who have to give the recommendations on where to cut, but council wouldhave to make the hard decisionsshould they not.

Dowling said that the current council has gone about it the right way so far, in that theyve had the needed discussions. Dowling said that each dollar cut from county budgetswill affect services and thats how he would decide to make cuts, by how the cuts would affect individual services.

Hurwtiz said go to the experts."We are making decisions that are going to affect peoples lives," he said.

Hurwitz said that an elected official doesnt become an expert the day they are elected, and he wanted to see more outside input on where the budget can be adjusted. Cuts need to be talked about as a last resort.

Would you support green initiatives within the county?

Dowling said hed support green initiativesas a council member, but a lot of projects are going todepend on what the commissioners do. Down the road, green initiatives are a long-term investment and would make sense for the county.

Hurwitz said he wants the council to have a stronger voice and not simply wait for the commissioners to make calls on what types of development they push for. Hurwitz said that on the heels of the WSP steel-dust recycling plant debacle,Delaware County can be a leader in steering what development it wants to see. He alsosaid partnerships with groups like ecoREHAB, a nonprofit that rehabsabandoned or neglected homes,would make a difference going forward.

Webb agreed with Hurwitz, sayingthat since the council controls the purse strings, they can shape policy. Webb said he wanted to see geothermal or solar initiatives, especially on county property.

Another way to incorporate green technology would be to partner with the city over the use of natural gas-powered vehicles like the city currently uses for sanitation vehicles and some in the police department.

What are your thoughts on how the county has handled the pandemic?

Hurwitz said the mask mandate was theminimum. He understoodthat there is a concern over the personal freedom issue, but there is a community health issue at stake as well. Hurwitz said the county hasthe information to know where danger spots are and follow contact tracing, and they need to continue to do so.

Webb said he sides more on the personal freedom side. He wants mask wearing as a choice and disagrees with the county mandate. He said that many people dont believe the science or the media narrative surrounding the pandemic."To implement that on everyone unwillingly I dont subscribe to that and dont support that," Webb said.

Dowling agreed with Hurwitz. He said the science is overwhelmingly clear on the masks and that the mandateprotects others in the community.

"We dont allow unvaccinated kids in schools, so why do we do it with masks?," Dowling asked. Overall, he wanted to see stronger mask enforcement from local officials.

Would you support more addiction treatment within the county?

Webb said that he doesnt want to see a jail-for-profit system, and if the county was going to house out-of-county inmates the moneyshould fund in-county addiction services.

Dowling said that treating addiction isnt coddling criminals, as some claim.

"The more we criminalize it, the more expensive it is for us," Dowling said. He wantedto see far more treatment than criminal criminal charges, though changes to that law would be beyond what the council could do.

You can not jail your way out of it, he said, noting his support for more work to be done to bring addiction services to the new jail.

Hurwitz said that if the new jail has room for for-profit housing of out-of-county inmates, it has the room to get addiction services.

MORE ON LOCAL ELECTIONS:

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What about the new Delaware County Jail?

Several questions focused on the jail, including the impact to downtown Muncie as well as how it is being funded using the county's EDIT dollars. All three candidates spoke against moving the jail to its new location.

Hurwitz said it wasnt a good idea to use economic development funds and he was starkly against it.

Webb said that the current administration was worried about the current jail and the issues it posed, but the use of EDIT has become a piggy bank for projects that it shouldn't be funding. He wanted to see it go through proper channels instead.

Dowling said it was terrible to use EDIT on the jail and that it was a misspending of funds. "People have gotten so used to corruption in Delaware County, the fact that people assume someone is getting money out of this deal means that it was wrongly done."

Would you consider raising local incometax to solve county budgeting issues?

Dowling was against the decision to raise the income tax at this time.He said that while the county was hurting for funds, trying to fix it through raising income taxes hurts low-income and fixed-income members.

Hurwitz said raising the tax, if it were to be consideredwould have to be done with sensitivity. "It doesnt work well in most cases," Hurwitz said, but that doesn't mean it shouldn't be considered."All tools should be considered when the county is facing with an economic crisis."

Webb agreed with Hurwitz, saying thatnothing was off the table. When county officials haveto tryto cut $8 million out of the budget, itis not aneasy number. Small increases in tax can stack up across the county for additional funding. At the same time, Webb said, the county might simply have to learn to do more with less.

The remaining forums for specific races are on the following nights:

Corey Ohlenkamp is the city/county government reporter. Contact him via email at cohlenkamp@muncie.gannett.com or by phone at 765-213-5874. Follow him on Twitter at @Ohlenkamp

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What you need to know from Wednesday night's Delaware County Council forum - The Star Press

I will be teaching a new class at Chapman University during the coming semester called Puzzles and Paradoxes in Economics and Finance.

One example of a financial puzzle is known as the Greed-Fear Paradox.It seems that investors are schizophrenic when it comes to the U.S. tech sector.

According to Bank of Americas latest global fund manager survey, 80% of survey respondents said that being long in U.S. technology stocks, including biotech, is the most crowded trade in the market right now a record for any asset since the survey began.

The greed factor is evidenced in 2020. The Nasdaq is up 42% more than the last six months against a 24% advance for the S&P 500.

In my own newsletter,Forecasts & Strategies, I have taken full advantage by adding several new positions in technology, in both e-commerce and pharmaceuticals.

The smart investor must know the signs of the times.We have switched from income investing to growth investing, and it has paid off.

Is the Tech Bull Market in a Bubble?

Yet, at the same time, investors are paranoid about the sector, with a tech bubble now seen as the second-biggest risk to this market, behind only a second wave of COVID-19.

They know that technology stocks are also the most volatile sector, next to gold.When the market sold off last week, we witnessed a tech wreck.As the old Wall Street saying goes, The market takes the stairs up and the elevator down.

Now, tech stocks are making a comeback.It is hard to predict when the Nasdaq will fall off a cliff again.Right now, investors are more confident that the economy is on the mend, and with aggressive monetary and fiscal policy at work, tech stocks could head higher.

Tech and Gold:The Best Combination

The second most crowded trade is in gold, which has also gone through a correction but is now headed higher.Gold is once again approaching $2,000 an ounce and is benefiting from the same factors as the tech bull market easy money by the central bank.

With interest rates at historic lows, and the money supply (M3) growing at a record high 25% a year, precious metals are a winner in 2020.

That trend is likely to continue, and smart investors are diversifying into gold, silver and mining stocks.My favorite speculation of the year is already up 50% but it could move higher.

In my short-term trading service,TNT Trader,I specialize in both tech stocks and gold, and weve been making double- and triple-digit returns lately with stocks and call options.

Ive also just added apenny mining stockportfolio these are exploratory mining companies that sell for less than a buck but have the potential to make 300-1,000% on your money during the next yeartwo-to-threeyears and could be bought out by major miners.All three are already up by 20% or more.

For more information, go towww.markskousen.com, or call Grant at 1-202-677-4492.

Update on Private Off the Record Post-Election Summit

Finally, we are really excited to let you know about what is the first actual, in-person get together weve had since very early this year, and it is the just-confirmed, just-verified and ready to rock and roll financial event of this post-lockdown year.

Today, we are cordially inviting you to our private, in-person off the record, financial summitsponsored by the Investment Club of America.This confidential meeting will take place onNov. 6-7 (right after the elections) in anundisclosed location inLas Vegas.

Why is this gathering so secretive?Because our First Amendment rights are being abridged by power-hungry politicians, and we need to maintain a low profile in an era of big government.

We live in dangerous times, in which our freedoms and wealth are threatened as never before. The November 2020 election has become the most important election of the 21st century due to the stark differences between the two parties. Trump and the Republicans are struggling to maintain power in the face of a never-ending pandemic.Their policies of tax cuts, deregulation and appointing conservative justices could be overturned soon.

As it stands today, the election betting odds still favor the Democrats.If the Biden/Harris ticket wins and the Democrats take over the House and the Senate, what will this mean for investors, entrepreneurs and the citizens of America? Will the stock market crash and gold soar?

Biden & Co. have promisedmassive tax increases on wealthy entrepreneurs, elimination of the long-term capital gainsbreak on stocks, bonds, gold, silver and real estate (with tax rates exceeding 50%).

They have also promisedsocialistic programslike Medicare for All, free college tuition, a New Green Deal, a wealth tax, severe limitations on free speech, a new Supreme Court, all on top of out-of-control government spending. The Great Suppression has begun!

Thats why we are holding thisPost-Election Summit.It is critical to your pocketbook and your way of life.

And to help make sense of it all, we have brought togethersome of the worlds top expertsto discuss the outcome of the November elections.What will it mean in terms of our citizens rights to speak out, to run our businesses, to invest, to travel, to assemble and to be left alone?

Will our freedoms and standard of living becurtaileddue to new government policies?Will our wealth come under attack with new taxes, inflation and regulation?Will tech and gold continue to be the favorite stocks after the November elections?

We have brought out the best and the brightest analysts in finance, economics and politics to provide their analysis and answer your questions.

The Post-Election Global Financial Summit is an in person, face-to-face event not a virtual conference. Due to legal restrictions, attendance at this in-person eventwill be limited.We urge you to register now and not be disappointed.

The price for this two-day event is $299. There are no discounts and we expect to sell out quickly. To learn more about the conference, go tohttps://globalfinancialsummit.co/.

After you register, you will be given the name and location of the Las Vegas hotel, and you then can reserve your room and make your travel arrangements. The hotel is only $99 per night, plus tax.There is no resort fee.Parking is free.We arranged a great deal for you!

Special Note:Please do not discuss this conference on social media.This is a private conference by special invitation only.Thank you.

Our Confirmed Speakers for This event:

Mark Skousen, veteran editor ofForecasts & Strategiesand the producer of FreedomFest, will analyze the impact of the November elections on the economy, the dollar, taxes and your wealth. He will give specific recommendations what to buy, what to sell and what to expect in the next year for stocks, bonds, the dollar, real estate and commodities.

Jo Ann Skousen, associate editor ofForecasts & Strategiesand director of the Anthem Film Festival, will discuss her greatest concerns for the future the protection of the twin pillars of freedom.

John Fund, senior editor ofNational Reviewand the nations foremost authority on politics and elections, will assess the good, the bad and the ugly coming out of the November elections.

Sean Flynn,economics professor at Scripps College (Clermont) and principal author of the top economics textbook in the country, will assess the New Normal after the elections how to survive and prosper in an age of higher taxes, growing deficits and more regulations.As the author of The Cure That Works, he will update us on the future of health care and the pandemic.

Jim Woods,known as the Renaissance Man, the #1 financial blogger in the world according to Tip Ranks, and co-editor ofFast Money Alertwith me, will discuss his favorite investment strategies for 2021.

Hilary Kramer,editor of the popular2-Day Trader, a talk show host and a graduate of the MBA program at the Wharton School of the University of Pennsylvania, will discuss how the November elections will be a GameChanger (the title of her most popular book that was #1 on Amazon this year and was also on theWall Street Journalbestseller list).

Bryan Perry, editor of the prestigiousCash Machineadvisory service, will offer his best post-election investment choices in high-tech and high-income.

Adrian Day,founder of Adrian Day Asset Management and the worlds top authority on global investing and mining stocks, will offer specific advice on the outlook for global investing, the dollar, and commodities, with specific recommendations from blue-chip miners to penny stocks that are likely to double or triple in the coming year.

We just confirmedBarbara Kolm,vice president of the central bank of Austria, who will give us an update on Europe.More speakers will be added soon and Roger Michalski, publisher of Eagle Financial Publications, will moderate.

Time is short, and now is the time to act if you wish to be part of this historic gathering.Attendance is strictly limited, so sign up today athttps://globalfinancialsummit.co/.

You Nailed it!

The Best Court Decision Ever Written on the Lockdown

Today is Sept. 17, Constitution Day.Some 233 years ago, 39 members of Congress, including George Washington and Benjamin Franklin, signed the Constitution, which formed the basis of our rights and privileges.

Good news!The Constitution and our Bill of Rights are still alive, though hanging by a thread.

In a beautifully written opinion,Federal Judge William Stickmanhas issued a decision that Pennsylvania GovernorTom Wolf like the governors of California, Nevada, New York and other states overstepped his powers by shutting down small businesses in the state.

In a ringing 66-page decision, the Trump-appointed judge ruled that the lockdown of business is unconstitutional and un-American.

It deserves to be read by every lawyer, judge and law student in America. This is an enormously important decision in terms of economic freedom, so I provide some highlights below (emphasis added):

The fact is that the lockdowns imposed across the United States in early 2020 in response to the COVID-19 pandemic areunprecedentedin the history of our Commonwealth and our Country.They have never been used in response to any other disease in our history. They were not recommendations made by the CDC. They were unheard of by the people [of] this nation until just this year. It appears as though the imposition of lockdowns in Wuhan and other areas ofChina a nation unconstrained by concern for civil liberties and constitutional norms started a domino effect where one country, and state, after another imposed draconian and hitherto untried measures on their citizens. The lockdowns are, therefore, truly unprecedented from a legal perspective.

The Court declares, therefore, that the stay-at-home components of the Defendants orders were and are unconstitutional.Broad population-wide lockdowns are such a dramatic inversion of the concept of liberty in a free society as to be nearly presumptively unconstitutionalunless the government can truly demonstrate that they burden no more liberty than is reasonably necessary to achieve an important government end. The draconian nature of a lockdown may render this a high bar, indeed.

An economy is not a machine that can be shut down and restarted at will by government. It is an organic system made up offree people each pursuing their dreams.

Courts surely may be willing to give in a fleeting crisis.But here,the duration of the crisis in which days have turned into weeks and weeks into months already exceeds natural disasters of other episodic emergencies and its length remains uncertain Faced with ongoing interventions of indeterminate length, suspension of national constitutional levels of scrutiny may ultimately lead to the suspension of constitutional liberties themselves.

There is no question thatour founders abhorred the concept of one-person rule.They decried government by fiat.Absent a robust system of checks and balances, the guarantee of liberty set forth in the Constitution is just ink on parchment.There is no question that a global pandemic poses serious challenges for governments and for all Americans.But the response to a pandemic (or any emergency) cannot be permitted to undermine our system of constitutional liberties or the system of checks and balances protecting those liberties.

In a free state, the ability to earn a living by pursuing ones calling and to support oneself and ones family is not an economic good; it is a human good.Although jurisprudence may not affordthe right to pursue ones occupationthe same weight as others in our hierarchy of liberties, it cannot be given such short shrift as to allow it to be completely subordinated to an ad hoc and arbitrary regimen that cannot even be reduced to an objective, written definition.

The liberties protected by the Constitution are not fair-weather freedoms in place when times are good but able to be cast aside in times of trouble.There is no question that this Country has faced, and will face, emergencies of every sort.But the solution to a national crisis can never be permitted to supersede the commitment to individual liberty that stands as the foundation of the American experiment.The Constitution cannot accept the concept of a new normal where the basic liberties of the people can be subordinated to open-ended emergency mitigation measures. Rather, the Constitution sets certain lines that may not be crossed, even in an emergency. Actions taken by Defendants crossed those lines. It is the duty of the Court to declare those actions unconstitutional.

Amen!

Read the full opinion here: https://www.scribd.com/document/476017344/Judge-Stickman-s-order-in-Butler-County-v-Wolf

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Love the Market You Fear the Most - Stock Investor

LOUISVILLE, Ky.--(BUSINESS WIRE)--Papa Johns International, Inc. (NASDAQ: PZZA) today announced plans to open a new global headquarters in the Metro Atlanta, GA region, where menu innovation; marketing; customer experience; HR; diversity, equity and inclusion; communications; and development functions will be located. IT, supply chain, and legal teams will remain in the Louisville, KY headquarters. Papa Johns also maintains a headquarters office outside of London, UK, where its international operations are managed.

Papa Johns new headquarters in Metro Atlanta is a key element of a broader reorganization of corporate functions, reflecting the companys ongoing transformation into a brand and culture that can effectively and efficiently deliver on the companys purpose, values and strategic business priorities. The opening of the new Atlanta location and related organizational changes are expected to be completed by the summer of 2021 and do not affect Papa Johns company-owned or franchised stores or its nationwide network of quality control centers (QCCs).

Shortly after setting a new strategic direction for Papa Johns late last year, we began to assess the optimal corporate organization to support our restaurants and our brands long-term growth, said Rob Lynch, President & CEO. With strong momentum and our potential expanding every day, we are investing in capabilities for future innovation and global growth, improving efficiencies, and better aligning our organization around the strategies that are driving our near- and long-term success.

Mr. Lynch continued, Were thrilled to open a headquarters office in such an energetic and diverse region. Metro Atlantas deep talent pool and its world-class airport connecting us to the domestic and international markets that are key to our brands future will accelerate our long-term growth. Atlanta is also our largest corporate-owned restaurant market and the location of our newest and most sophisticated QCC. The Louisville headquarters Papa Johns home for 36 years remains essential to the companys success and we look forward to continuing to be a great corporate partner in the Commonwealth of Kentucky.

The company is currently in discussions with a number of potential office locations throughout the Metro Atlanta area and expects to complete the selection process by the end of 2020.

Papa Johns Chief People and Diversity Officer Marvin Boakye added, These changes to our corporate structure and team mark another milestone in Papa Johns ongoing transformation into a more innovative brand with a culture that is focused on diversity, inclusion and winning.

About Papa Johns

Papa Johns International, Inc. (NASDAQ: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA. Papa Johns believes that using high quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is headquartered in Louisville, KY. and is the worlds third largest pizza delivery company with more than 5,300 restaurants in 48 countries and territories as of June 28, 2020. For more information about the Company or to order pizza online, visit http://www.PapaJohns.com or download the Papa Johns mobile app for iOS or Android.

Forward-Looking Statements

Certain matters discussed in this press release and other company communications that are not statements of historical fact constitute forward-looking statements within the meaning of the federal securities laws. Generally, the use of words such as expect, intend, estimate, believe, anticipate, will, forecast, plan, project, or similar words identify forward-looking statements that we intend to be included within the safe harbor protections provided by the federal securities laws. Such forward-looking statements include statements regarding: our plans to open the new Atlanta, GA location and the related organizational, employment and real estate changes that are expected to be made in connection therewith; the potential business impact of such changes; opportunities for future innovation and growth; our plans to improve efficiencies; our ongoing transformation; our strategy and plans to improve our brand and culture; our plans to minimize disruption during the transition; and other financial and operational measures. Such statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict and many of which are beyond our control. Our forward-looking statements are based on our assumptions which are based on currently available information, including assumptions about our ability to manage difficulties associated with or related to the COVID-19 pandemic, including risks related to: the impact of governmental restrictions on freedom of movement and business operations including quarantines, social distancing requirements and mandatory business closures; the viruss impact on the availability of our workforce; the potential disruption of our supply chain; changes in consumer demand or behavior; the overall contraction in global economic activity, including rising unemployment; our liquidity position; our ability to navigate changing governmental programs and regulations relating to the pandemic; and the increased risk of phishing and other cyber-attacks. Therefore, actual outcomes and results may differ materially from those matters expressed or implied in such forward-looking statements. Other risks, uncertainties and assumptions that are involved in our forward-looking statements are discussed in detail in Part I. Item 1A. Risk Factors in our Annual Report on Form 10-K for the fiscal year ended December 29, 2019, and in Part II. Item 1A. Risk Factors in our Quarterly Report on Form 10-Q for the first quarter ended March 29, 2020. We undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise, except as required by law.

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Papa John's Announces Plans for New Global Headquarters in Atlanta Area to Accelerate Long-Term Growth and Innovation - Business Wire

A few weeks into his time in immigrant detention, 35-year-old Antony was diagnosed with the flu. He was born with sickle cell anemia and is immunocompromised, so with COVID-19 spreading throughout the U.S., he was terrified.

If he contracted the coronavirus, it could kill him.

I was praying a lot, said Antony, who spoke to HuffPost through an interpreter and is being referred to by a pseudonym to avoid retaliation. I was telling God to give me the strength and the courage to deal with this situation.

Antony is one of the thousands of immigrants who have been detained byImmigration and Customs Enforcement during the coronavirus pandemic. He spoke to HuffPost about his experience in a detention center in New Jersey, one of the facilities that are vulnerable due to the use of common spaces, a lack of room for social distancing, a lack of proper medical attention and guards who might bring the virus in or carry it out.

(See the video above on Antonys experience.)

Although ICE officials say the agency is taking precautions to avoid the spread of the coronavirus, including releasingmore than 1,000 people, activists say that the facilities remain ill-prepared to protect those detained.

Immigrants were given face masks only recently, but most of them are forced to reuse single-use masks without being allowed to wash them or receive new ones. Those held were not given soap or sanitizers and some were even exposed to pesticides and other toxic substances.

Despite global lockdown measures, ICE continued to detain, transfer and deport immigrants including thousands of children all of which has contributed to the spread of the coronavirus nationally and globally. Foreign governments who accepted deportees said they brought the coronavirus back with them.

Antony ultimately tested negative for COVID-19 and was released to be with his family as he awaits court proceedings. But others in the facility did test positive. At least one immigrant tested positive for COVID-19 at the same facility in March.

All told, more than 5,000 individuals have contracted the virus while in ICE custody, including more than 800 ICE detainees just in the last week. In Arizona, more than 200 new cases were reported at one of ICEs facilities. ICE facilities in Texas, Louisiana, Florida and Virginia have all reported deaths as a result of COVID-19.

Last month, a 50-year-old Honduran man held at a Texas immigration facility died after testing positive for COVID-19. He was the 19th detainee to die while in ICE custody during the 2020 fiscal year. This year likely will mark the highest number of immigrant deaths while in ICE custody. In 2006, 19 immigrants also died while in custody, which is the highest number of deaths to date.

The government is endangering people who are in its custody and doing so in a way that the people are not able to protect themselves, said Karlyn Kurichety, a supervisory attorney at Al Otro Lado, a social justice legal services organization.

One death is too many because this is something preventable. This is a government-created situation. We just see the numbers keep increasing, and nothing is being done, she added.

A spokesperson for ICE said the agency has taken on proactive measures include limiting the intake of new detainees, implementing alternative detention programs, social distancing, cohorting, and monitoring and screening detainees for COVID-19, as well as providing detainees with the appropriate personal protective equipment.

The safety, health, and well-being of its detained population are among U.S. Immigration and Customs Enforcements top priorities. This is made evident by the more than $269 million the agency spends annually on the spectrum of health care services provided to detainees in ICE custody, the ICE spokesperson told HuffPost in an emailed statement.

Fear And Heartbreak

On a cold January morning, Antony, who was born in the Caribbean, kissed his wife and baby goodbye as he left for work on the East Coast. It was 5 a.m., and he hadnt slept much the night before. His son, less than a year old, was sick, and both parents had been up all night taking care of him.

But Antony had to leave for work to provide for his family. He was in his car when an unmarked van blocked his way. The men from the van identified themselves as police and told him he was under arrest. They took him to an immigration facility in New Jersey, where he stayed with about 60 other detainees.

When youre far away from your family, far away from someone you love and someone who loves you, and they take that away, they tear it away from you just like that, it destroys you. It destroys your heart, Antony told HuffPost through an interpreter.

By February, lawyers at the Legal Aid Society, a nonprofit based in New York City, took on Antonys case advocating for his release.

ICE has endangered the lives of our clients and others in their jails by making the indefensible choice to detain them during this pandemic, said Katherine Kim, supervising attorney in the immigration law unit at the Legal Aid Society. They have a clear track record of failing to provide adequate and appropriate medical care to people in detention, and we continue to be concerned for the health and well-being of our clients.

Although ICE officials announced an increase in COVID-19 testing, advocates said it was not sufficient as long as people were constantly exposed and left unprotected. Earlier this year, federal judges ordered the release of immigrants who were at higher risk, such as the elderly or those with underlying health conditions.

COVID-19 has revealed the fatal flaws and the negligent medical care that ICE has historically provided to people who are detained within its facilities, said Denise Bell, a researcher at Amnesty International USA. Whats more disturbing is the carelessness, and Id even say callousness, with which the government is treating people in its care and custody.

Lack Of Information And Transparency

Advocates say ICEs lack of transparency has left them unable to assess the true cost of outbreaks and if the death toll and transmission rate could be higher.

Immigrants inside the facilities said they were not being told the latest information about the pandemic or how to best protect themselves, causing mass panic among the detainees.

Rebekah Entralgo, the spokesperson for Freedom for Immigrants, an advocacy nonprofit that monitors human rights abuses faced by immigrants detained by ICE, told HuffPost that its hotline continues to receive calls from those inside the facility for the latest news. They have to rely on friends, families or advocates to provide updated information from public health officials or the government.

What we see is a consistent pattern of obfuscation. [ICE] is not transparent about how many people have been tested. They are not transparent about how many people actually have contracted. They give numbers, and youre not quite sure if theyre people who are facility staff or if they are people who have been detained, Bell said.

Immigrants have told advocates that officials inside the facilities have often turned off the TV and taken away newspapers to block information about the pandemic. Detainees who dont speak English or Spanish are often among the last to find out information from ICE.

This is not a time for punishment or making somebody out to be the other evil because of where they come from or because they want to seek safety here. This is about keeping us all safe, Bell said.

As for Antony, hes grateful to be home with his wife and children. He doesnt know what the future holds for him as an undocumented person because his case is ongoing, but for now he plans to keep working and providing for his family.

Freedom is priceless . When they take away that freedom, you get destroyed, he said. Im here again with my family, free and trying to do everything possible to push ahead.

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What It's Like To Be Held By ICE During The COVID-19 Pandemic - HuffPost