5 Stories to Watch Next Week | July 31, 2020

5 Stories to Watch Next Week There are simply too many developing stories to follow in the world. To make things easier, we narrowed them down to five that you should really watch next week: Biden to announce his choice for VP — Joe Biden stated at a campaign event in Delaware on Tuesday that he will have his vice presidential pick ready to announce during the first week in August. He has previously committed to choosing from a short list of women, including Sens. Kamala Harris (D-CA) and Elizabeth Warren (D-MA) and former National Security Adviser Susan Rice, among others. While the vice presidency has historically been viewed as less significant than the job title suggests, Biden’s pick could prove to be consequential given widespread concerns over his mental fitness for office. Biden’s pick will set up his most likely successor if he is elected and be indicative of who would serve as key advisers in his administration. Watch next week to see if Biden makes his announcement, and if so, who he chooses. US GDP 2nd quarter data is worst in decades — The steepest decline in America’s GDP since World War II could upend more than a decade of strong economic growth. The US economy contracted at a record rate over the last quarter, resulting in a historic percentage drop due to COVID-19. A drastic reduction in consumer spending combined with high unemployment rates and business closures are resulting in a long, slow recovery. The US is primed for expansion in the third quarter, but experts worry that a surge in coronavirus cases will prolong the trend in consumers choosing to save instead of to spend. Watch next week to see the impact of the GDP in negotiations over the next relief package. Congress hears from tech giants at antitrust hearing — The CEOs of Amazon, Apple, Facebook, and Google, some of the most powerful tech companies in the world, appeared together in a video conference on Wednesday for a congressional antitrust hearing. Each one faced scrutiny from Democrats and Republicans over the size and strength of their respective companies, as well as over how they amass and use users’ data. Anti-conservative political bias and censorship was another topic of discussion. The hearing came after a year-long congressional investigation and will result in a report with recommendations for potential changes to antitrust laws and their enforcement. Follow next week to see if there will be sufficient bipartisan support for new legislation. Trump orders withdrawal of troops from Germany — On Wednesday, the Trump administration announced plans to withdraw almost 12,000 troops from Germany as part of a reorganization of America’s military deployments in Europe. According to President Trump, the drawdown is a consequence of Germany’s refusal to increase military spending. In addition to the withdrawal of troops, several US military headquarters will be relocated. Secretary of Defense Mark Esper defended the move, claiming it will strengthen American strategic interests overseas. The move has drawn bipartisan criticism and opposition. Watch next week for further developments and potential backlash. EU announces first-ever cyber sanctions targeting Russia, China, North Korea — The European Union has imposed unprecedented financial and travel restrictions on six individuals and three entities responsible for cyber attacks. EU individuals are also prohibited from making funds available to those affected by the restrictions. Russia’s GRU military intelligence agency, as well as alleged spies and firms from China and North Korea, face sanctions for their suspected involvement in major cyber attacks across the globe. China has already responded by denouncing the sanctions and calling for cooperation and dialogue on global cyber security in place of sanctions. Look next week for reaction and further developments following this noteworthy move. Order Newt's Latest Book: https://www.gingrich360.com/trump-and-the-american-future

INNER CIRCLE MEMBER CONTENT