How the U.S. Post Office got into a financial black hole

Biden Trolls Trump’s Out-Of-Context Fauci Ad With A Scathing Spot Of His Own

Former Vice President Joe Biden is giving President Donald Trump a taste of his own ad techniques with a new spot that makes it seem like Trump is attacking himself. 

The ad, which contains cobbled together words and phrases uttered by Trump, was created in response to a Trump campaign ad that used out-of-context comments to make it seem as if Dr. Anthony Fauci was complimenting Trump’s response to the coronavirus pandemic. 

Fauci said he was not talking about Trump, had never endorsed a candidate and demanded the removal of the ad, but the Trump campaign refused. 

The Biden campaign responded with this ad: 

During a campaign appearance, Biden slammed Trump for using the Fauci comments. 

“They used the ad knowing it was a lie,” Biden said in Ohio on Monday. 

Biden also called the coronavirus pandemic “an enormous opportunity” to emerge from the crisis even stronger. 

“That’s the uniqueness of who we are,” Biden said. “We now have an opportunity to build back, and build back better.”

 

We want to know what you’re hearing on the ground from the candidates. If you get any interesting ― or suspicious! ― campaign mailers, robocalls or hear anything else you think we should know about, email us at [email protected]

Gold Holds Steady Amid Stimulus Hopes

Gold prices held steady on Tuesday as investors became more confident of a larger stimulus deal in the U.S. down the road.

U.S.-China tensions and renewed concerns about the potential economic and health impacts of the coronavirus on the global economy also offered some support.

Spot gold held steady at $1,921.74 per ounce, while U.S. gold futures were down 0.1 percent at $1,926.65.

After the revival of stalled talks, investors remain hopeful that a second U.S. stimulus package would eventually be passed.

White House Press Secretary Kayleigh McEnany said on Monday she believes U.S. Senate Republicans will eventually get on board with what President Trump wants in coronavirus relief legislation.

U.S.-China tensions remain on investors’ radar amid reports that the Trump administration plans to sell three advanced weapons systems to Taiwan, which is seen by China as a breakaway province.

On the Covid-19 front, Johnson & Johnson said it had temporarily halted its Covid-19 vaccine trial due to an unexplained illness in a participant, raising uncertainty about the timing and effectiveness of a vaccine.

There is some cheer on the data front, with China’s exports rising 9.9 percent to $239.7 billion in September, marking a fourth straight monthly gain. Imports rose by 13.2 percent to $202.7 billion after weakening in the previous two months.

US Reports 41529 New COVID Cases, 315 Deaths In Last 24 Hours

The United States reported a significantly lower number of coronavirus deaths and infections Monday, when compared to the figures last week.

With 41,529 new cases reporting in the last 24 hours, the national total increased to 7804336, as per to Johns Hopkins University’s latest data.

A total of 315 deaths reported nationally in the last 24 hours is just one third of what was reported in most of the days last week. With this, the total number of COVID casualties in the U.S. increased to 215086.

Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said coronavirus infection in the country is on a trajectory of getting worse and worse. “And that’s the worst possible thing that can happen as we get into the cooler months,” he told CNN.

Hospitalizations due to coronavirus infection rose nationwide, with record-high levels in 10 states, according to data from the COVID Tracking Project.

Johnson & Johnson announced that it is suspending the advanced clinical trial of its experimental vaccine following an unexplained illness in one of the volunteers.

Citigroup Inc. Profit Retreats In Q3

Citigroup Inc. (C) revealed earnings for third quarter that decreased from the same period last year.

The company’s bottom line totaled $3.23 billion, or $1.40 per share. This compares with $4.91 billion, or $2.07 per share, in last year’s third quarter.

Analysts had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 6.8% to $17.30 billion from $18.57 billion last year.

Citigroup Inc. earnings at a glance:

-Earnings (Q3): $3.23 Bln. vs. $4.91 Bln. last year.
-EPS (Q3): $1.40 vs. $2.07 last year.
-Analysts Estimate: $0.92
-Revenue (Q3): $17.30 Bln vs. $18.57 Bln last year.

EB I-70 closed at Central Park Boulevard in Denver after serious crash

DENVER — A serious crash closed all eastbound lanes of Interstate 70 in Denver early Tuesday morning.

The wreck was reported around 4 a.m. at Central Park Boulevard.

The crash involved serious injuries, according to a tweet from the Denver Police Department.

All eastbound traffic was being diverted off of I-70 at Northfield Quebec Street in Denver.

The interstate could be closed for a while, traffic operators with the Colorado Department of Transportation told Denver7 Traffic Reporter Jayson Luber.

Read the full story from our partner at thedenverchannel.com.

How the U.S. Post Office got into a financial black hole

It's no secret the Post Office has been in financial trouble for years, a fact that has been politicized by President Trump in the lead up to the 2020 presidential election.

The institution wasn't spared from the impact of the Covid-19 pandemic. Thanks to a lifeline from the U.S. Treasury Department and better-than-expected sales, the U.S. Postal Service has enough cash to get through mid-2021. 

Still, government watchdogs and private consultants warn it's on a path to financial collapse, with unknown consequences.

"It's an organization that provides a public service, a universal public service by the government," said David Trimble, director of physical infrastructure at the U.S. Government Accountability Office, in an interview with CNBC. "But at the same time, it's an organization that's required to be self-financing."

Watch the video above the learn more about the business model of the U.S. Postal Service and why it's not working.