Using US-Made Products

In an effort to move over to more American-created goods and products, President Biden put out an order requesting his staff to “review critical supply chains with the aim of bolstering American manufacturing of semiconductors, pharmaceuticals and other cutting-edge technologies.”  The goal is to reduce the US’s reliance on imported materials, the creation of well-paid jobs in America and strengthening the economy especially when faced with pandemics, geo-political threats and climate change.

In a discussion Biden had with Congress members, Michael Thomas McCaul said:

“China is looking at investing $1 trillion in their digital economy. If we’re going to be competitive, we have to incentivize these companies to manufacture these advanced chips in the United States.”

Further, together with 16 Republican governors, Gov. Spencer Cox wrote a letter to the President asking for a withdrawal of Executive Order 14008 (“Order”), issued on January 27, 2021. This order will ban the development of new oil and gas on offshore waters and federal land.  It said:

“There are many parts of our country where energy is more than a utility bill or tank of gas—it’s a job  creating industry that provides good careers and steady paychecks to families in rural areas and small towns.  Where the recent surge in oil and natural gas provided jobs and created wealth when we needed it most, the  Order will drastically hinder the ability of the oil and gas industry to recover, both onshore and offshore, as  the effects of the COVID-19 pandemic subside. In particular, the Order has a negative economic effect  upon western states with large tracts of federal land and upon Gulf Coast states, chasing away capital  investment for long-term economic growth and undermining public services, public conservation, public  safety, public education, and more. Beyond directly impacted states, the Order is estimated to spike  American residential energy costs by $1.7 billion per year.”

Mozes Konig: Cyber Security Investments 101

Cybersecurity investments have grown substantially in the last decade. In the last few years, Mozes Konig of MVKonig Ltd. has been investing in this industry.  Konig – who a while back went through some issues with Interpol which he thereafter solved – has been following the updates on the increasing relevance of cybersecurity today and for the future.

It has been estimated that cybercrime costs the world economy more than $400bn each year.  While in 2013 approximately 3,000 US firms were estimated to have been the victim of cybercrime, according to the 2019 Official Annual Cybersecurity Jobs Report  for those looking for work, cybersecurity is a great place to start. Experts have anticipated that from 2013 to 2021, there will be a 350% growth in job vacancies in this industry.

“It’s a fascinating industry,” explained Mozes Konig.  “Every year you find IT firms responding to developments in the tech sector. With that comes new opportunities for cyber criminals to do their work.  Hence more cyber security is always needed.”

All of this can negatively impact a business’s growth if the necessary measures are not put in place. 

“In addition,” continued Konig, “given that people are using their devices more and more, there is naturally going to be a far greater exposure to cyber criminal invasion.  In fact, while it may seem that investing in cyber security is expensive, we have only experienced that not making the investment comes at a greater price.”

Business safety is crucial in every aspect but as society continues to become increasingly device-oriented, investing in cybersecurity is no longer a luxury but a necessity.

Resilience of Small Businesses

What to do when a pandemic has lasted nearly a year and there is little sign of it ending any time soon?  How should struggling businesses act to stay afloat but within the guidelines?  Shockingly perhaps, there are many small firms that are rising to the challenge and showing incredible resilience during this time.

The businesses that are still open are finding new and innovative ways to keep businesses going.  All the while dealing with kids at home and other additional responsibilities.  A lot of eateries are now realizing that takeouts are the best option.  Dining areas have had to remain closed but people still want to enjoy “eating out.”  This way they can do so in a coronavirus-legitimate way and support local businesses.

Many companies have Googled “how much does SEO cost” and are finding ways to make themselves more readily searched online. Since the majority of people are spending far more time online now than ever before, it makes sense that businesses are trying to stay up to date so that people can search for them and find them more easily online.

Educational institutes are figuring out ways to teach online since they are not able to teach on campus right now. The advantage of that is that students are able to access more educational opportunities since distance is no longer an issue.

Fashion and clothing companies have adapted by making masks.  Some make masks to match outfits, others create comic masks and still others make headcoverings and masks to go together.  There is so much that can be done.

U.S. Treasuries Fall As Growth Increases

As U.S. growth increases, treasuries have fallen, according to recent data which revealed growth in both business equipment orders as well as home purchases. Meanwhile, Benchmark notes increased yesterday as concerns regarding the Eurozone heighten and reports revealed that U.S. consumer confidence has fallen.
“The Conference Board consumer confidence report is important, but the reaction was probably excessive,” said Alessandro Mercuri  of Lloyd Bank Corporate Markets in London. “We’ve had a streak of stronger data. If we have a softening of concerns in Europe, we might have a bear steepening in the U.S.”