Distinguished panelists
CRAIG W BRODERICK --- Senior Director, Risk Management of Goldman Sachs, 32 years on Wall Street
CLINT HINOTE --- Three Star General Deputy Director, Air Force warfighting Integration Capability
JOSEPH A. CARI, JR. --- Chairman & CEO at Ciavierella Partners, Senior Advisor and CMD Global Partners
FIONA ZHOU --- President at Global Institute of Financial Professionals
EARL CARR (Moderator) --- VP of Momentum Advisors, Adjunct Instructor at NYU’s Center for Global Affairs, Forbes Contract Writer
The Poll
The webinar starts with a poll consisting of 3 questions. The results are interesting, where 50% of people perceive a 5% or more increase in the overall market conditions if Biden is elected while 7% of people think Trump’s winning would bring a 5% up. And when it comes to the most important factor with respect to a presidential election, 40.6% people voted to US Foreign Policy, 34.4% of them voted to Domestic Policy, and the rest of them chose moral character and personality. The poll also asked the geo-political issue that people are most concerned about both before and after the presidential election. 68.75% people thought the issue was with China, 25% chose North Korea. A few others chose Russia, Iran or climate change.
Panelists Remarks
Craig
Financial markets are obviously focusing on the election, and making moment by moment decisions. Besides the short-term issues, long-term changes matter the most.
First of all, working from home starts off as a necessity and it won’t be rolled back. There’s a clear trend of high-tech concentrations and job disappearance, for example, retail and restaurants that won’t come back. There have been signs of increased automation and job disappearance, the COVID just accelerated the process.
The tax rate is certainly going to be higher, both corporate and personal tax. Slight difference exists with specific categories, carbon tax will probably be the target with Biden administration while wealth tax probably with Trump administration.
Universities and schools would have to accept changes and explore new business models. The Fed has stepped in the economic stabilization process, for instance, changes the inflation target that would not expect going back for a while.
One more interesting change is that it would require companies to become more socially responsible: Green focus, social justice focus etc., Analysts and investors need to go ahead of them when making decisions.
Clint
No matter a second Trump administration or a first Biden administration, in both instances, the US Air Force needs to be in place and lead the nation forward. COVID is more of an accelerator instead of the origin of many hot spots. We’ve already been seeking a more intense relationship with China, our allies, and even ourselves, COVID just accelerated it.
Since the entitlement spending has been increasing at such a rapid rate, huge pressure would be put on the Defense Department and there would be a broader definition of national security no matter what happened in November.
We will live in a world where public health would be considered as a part of national security. An
