The U.S. economy is the one that is stated as the world’s largest economy that is ranked at the first place in the international ranking on the venture capital and the global research and development funding. But 2020 is the year that has brought up several changes and numerous ups and downs in the U.S. economy.

The United States is the economy that is stated as a capitalist economy that rests on the pillars or on the basic principles. Moreover, for serving the readers with detailed information, we have mentioned some points below. Take a look here:-

Principles and traits of the United States economy that we should know:-

  • Freedom of choice:-

The consumers are considered the king in the U.S. economy because these people are enabling them to maintain the best GDP will get numerous perks. The users are free to buy the desired products like buying electronics or clothing according to their desires. The freedom of choice is allowing them to visit numerous places and concerts.

Due to such a notion of consumer sovereignty is central to the capitalist system; the companies make the electronics and several essential things. The consumers can get variety and easily buy the desired things willingly, no central authority or the government officials ask those companies regarding the production of different products.

  • Capitalism:-

 The U.S. the capitalist economy you probably might have heard about, but many people just wonder what capitalism is? The economic system is the one that goes best with the democratic form of the government i.e., for the initial stage. It enables people to sell a legal product for giving an excellent start to their business and keep getting numerous profits from it. People running their businesses are the entrepreneurs and the free enterprise that allows them to give a good start to their businesses.

  • Open markets:-

The U.S. economy is the one that is stated as the most open economies in the entire world as it thrives on competition. This is the economy that is open for the competitors as all from another country. We all should know that anyone in this world can feel free to sell legal products and services in the United States.

  • Free markets:-

This is the competitive field that is available with the free choice to buy the desired things; it determines the prices on which the things are available. The prices are not set by the government officials or the central authority; the demand and supply settle them up. This means the price variations depend upon the demand amongst the consumers and maximize supply.

The conclusion

Now we are here along with the closure that is the U.S. economy is the one that is enabling the business person or the entrepreneurs to come over and make money while selling the legal products there. This is providing them with the convenience and experience the thrill with the help of increased competition there.

As you all know, this year, the U.S. has general elections. The dates of elections are conducted on 3rd November and following the result on 14th December. Mainly two parties that are the Republican and the Democrats, are fighting the election. President Trump has accepted the nomination for the second time from the Republican party. However, his nomination is questioned by the opposition leader Joe Biden. He states that the President has failed to manage its issues and could not be promoted once again.

In the hot environment of the election, an incident happens in the U.S. that has revoked the protest of “Black Lives Matter.” The protest is mainly done by black people that are continuously facing discrimination in the country. The opposition party is taking benefit of protest and thus targeting president Trump. However, he has also assured the black people that justice will be served. But in media, he is represented as a Joker who knows nothing about politics.

President Trump has claimed that the U.S. will launch the coronavirus vaccine until the ending of the year. This is a big announcement from the president. Some political experts are denying the fact and consider the statement only for political purposes. However, all are hoping for the coronavirus vaccine; let’s hope for the best.

Trump attack on Joe Bidden

  • President Trump is continuously attacking opposition leaders by stating that he is a weak candidate for the president’s position. He also said that Joe Biden will outsource the jobs of people and will prefer foreign Nationals. However, all the allegations are denied by the Opposition leader.
  • Trump has stated that his champion is based on promoting foreign nationals into national jobs. Also, increase the taxes and duties on regular activities. Moreover, Trump said that he will make the worse situation of a country that had ever seen in the U.S.

Timing of election

  • U.S. elections are helding at the time of pandemic where no one is allowed to move outside from home. So, the question arises on how to conduct safe elections. Some people are suggesting to conduct the election in online mode. That is generating a unique email id on the name of every voter. But President Trump is against the online polls and wants to have an offline election.
  • U.S. media is continuously targeting the President’s performance on dealing with issues like the corona pandemic, Laura hurricane. Black people protest, and many more. Some surveys have declared confirm the winning of Joe Bidden. Let’s wait for real results and hope elections to be conducted on time.

Lastly, after summarizing while issues and events, we conclude that the elections will be problematic. President Trump took some significant moves to respond to his rival Joe Bidden. But on a Television conference, he is entirely defeated by opposition leader Joe Bidden. Moreover, the trends of people are also supporting Democrats’ leaders. But no one knows the result and could only wait for the result declaration date.

From the moment when a President takes office, regardless of party, it seems that praise and blame for anything and occurrence during 4 years the person is responsible who are on US Presidential seat and owning the White House. 

Also, the United States president is indeed one of the most powerful people on the planet. The one has all the powers and authority in his/her hands. The president’s decision is taken as the final decision, which makes his or her action for national and global implications. 

The powerful figure of the country

Yes, without any doubt, many media outlets painted the picture ofthe US Presidential as the most powerful figure that controls the whole country. The president of the country leads the executive branch. The one serves both the head of state and the head of government for the United States and the commander in chief of the country’s armed forces. Apart from all impressive titles and positions, the president has a strict limit to use his/ her power and authority. A person can only use these powers whenever they need to take a decision for the well-being of nationals.

Powers of the US Presidency

The president’s responsibility and power are outlined in Article II of constitutions in the United States. Under the authority, the country’s president can decide which is better for the people and the country. Here is the list of powers of the president.

  • In times of emergency, the president has the power to cal state units of the National Guard into services for fighting with the current situation.
  • They also have the authority to make the treaties and Senate approval at the time of need. The president can also receive the ambassadors and work with the leaders of other nations to develop their own country and the economy as well.
  • The person can nominate the heads of government departments, which is not doing their work correctly. It includes judges to Federal courts and justice to the United States Supreme Court, judges of the High Court. All these nominations must be done on behalf of approved by the Senate of president.
  • For Federal offense as the one has the power to issue pardons.
  • They also have the power to legalize any department, which is not illegal in other countries. Also, have the authority to run their country according to their choice. They can hire and suspend anybody anytime if they are found guilty or good for the country.

Moving forward, these are the major authority and power of the American president has many people shocked because they do not know about the limit of powers. This is the shortlist that president can do without any approval of another person.

To sum up with!!

To sum up this article, we have many featured about the US Presidency, which is the more powerful authority as the name suggests. The American country president is biggest than any other person out there in the world because it is the strongest developed country globally.

Suppose you are the one who is looking for a specialty and further operation that blends American history and guidance with a unique educational tour. In that case, you must consider visiting one of the US Presidential libraries and museums.

In adding now, it involves the display of significant memories in these interactive presidential centers, different age groups people can appeal to visit. To understand briefly, let’s take a closer look at the forthcoming paragraph.

History of Presidential sites

As we all know, George Washington is the first president of the country of America. From the first president to current chief executive Barack Obama, you can find out the many historic sites dedicated to these absolutely amazing leaders scattered across America. There are many old mentions out there of the centuries for visiting and traveling like President Washington’s, Mount Vernon in Virginia, and many other places. These are some examples of sleek modern complexes that are still quite retrospective to the US presidential commander chief.

How to conduct the next president of the US?

The upcoming United States residential electrician is set for held on November 3, 2020. The Year will be marked as the 59th quadrennial US Presidential election. The national of the country will vote for their desired differential election on a specific day. On December 14, 2020, people will get their new President and Vice President. They can also really like their favorite holder, which is already on the president’s seat for the next five years.

The procedure of election!!

For fighting for the US Presidential elections, the one must have to qualify some significant points and step to make their procedure done. Here are the following points which clear out every doubt of yours. Let’s talk about the points breezily.

  1. According to Article II of the US Constitution, the candidates fighting for the presidency seat must be citizens of the United States by birth. They must also have the permanent residential proof for filling the nomination form. 
  1. Furthermore, the candidate must be a minimum of 35 years old, the eligibility criteria for fighting the election, and must have lived in the United States country for a minimum of 14 years.
  1. Probably, candidates forus presidential elections looking for the nomination can choose any state’s political parties. Every opposition party has its own method to decide a candidate which can be right for the seat of the president. 
  1. Usually, people and voters are indirectly allowed to Slate of delegates. These delegates can nominate a certain candidate in order to run the upcoming elections for the president position.
  1. Basically, the president is authorized to select the country’s vice president. It is also ratified at the convention of the party after the finalizing of the country’s president.

Therefore, these are the primary and simple steps of the election procedure in a United State country under the US presidential. We have also discussed the eligibility criteria for fighting the election in the United States. 

On 3 November 2020, the elections of US presidential are to be held. There are two choices to the US citizens in this, they can elect the incumbent president Donald Trump, or they can elect the former Vice president Joe Biden. 

It is evident when the elections are happening, but the question arises of how the election process is going to be conducted? Because if they are asked to go for the regular polling process for elections, polling should be free, fair, and accessible for all the citizens for a fair poll. While being accessible, the safety of people is in the government’s hands. If the proper measures are not being taken, there can be a second wave of the coronavirus.

Can you vote by mail?

A few states have moved the voting by mail, this is a decision that sounds really easy, but it is not that easy to be applicable.

The applicability is not possible because it is time-consuming, expensive and people also find it complicated and get lethargic while sending in the mails. The process is costly because the ballot prints need to be printed in priority and the return mails are also pre-paid. The return mails are pre-paid because the poor people can’t afford the daily food, how would they afford the return mails. Also, some of them are not also aware of how you can send the mail back. These reasons can make them miss out on their right to vote.

In many states, they have made the registration or updating of the addresses or other personal information online. However, still, a lot of people with the resources don’t get timely registered because they are not interested in voting. However, if someone is not voting, they should not let their say go into waste and let the unworthy party win because of that.

There can be an increase in the in-person voting options.

Due to coronavirus, there is an important need for social distancing among people; if the proper distance is not maintained, the cases can be seen rising immediately. So in order to prevent people from overcrowding at the places where the polling is taking place, the polling stations can be expanded, and it can be done with the help of proper security.

A lot of people will also stand up for volunteering in this task if they are aware of the importance of giving votes to people who are worthy of it and who can make a difference by winning the elections. This can also get costly, but it will be way better than the normal number of polling stations. The timings can be increased, and the voting can start early in the morning so that everyone can get a chance to vote and at a safe level. 

Proper sanitization and distancing measures can lead to refraining of the new and second wave of coronavirus, and people can do their job of voting without getting infected with the virus.

The united state’s current political party system is basically a two-part system influenced by the republican and Democratic Party. These two parties have great influenced on the US as they are winning every election since 1852. There is so much going in the US, which affects the politics of the nation adversely. The current presidential election has become a major event in the United States; every news or internet is equipped with information.

Moreover, the corona pandemic has affected the United States; such thing has made a big impact on the lives of people and the elections. The United States of America faces more issues day by day, and such issues have the encourage unfair politics in America. The United States of America is globally known for its fair democracy, but politics have raised many issues.

Many riots also occur this year, some regarding the corona pandemic, and some on black lives matter. Such riots will have adverse effects on the current presidential elections. There is much more to know about the politics of the United States. Let’s go through them in detail now.

United States politics current events!

  • 2020 Us presidential elections

The election is scheduled for 3 November; it is the 59th quadrennial presenditial election in the United States. The consequence of the political decision is probably going to pronounce on 14TH December. The Republican Party has reported Donald Trump and Mike Pence as the president applicant and Vice President Post. In an examination, the Joe Biden and Indo-Jamaican Senator Kamala Harris are the popularity based up-and-comers that will contend in the political decision. The determination of Kamala Harris is addressed by the republicans as the progression to look for American Indians’ votes. The foreign ministry is interfering most in us elections, countries like Iran and Russia, influencing President Trump’s election.

  • The protest of BLACK LIVES MATTER!

As of late in the US, a few racism incidents happen that accompanies a huge get-together of individuals around the nation’s different urban communities. Because of the mass individuals assembling, the danger of COVID spread has expanded. The Trump government has found a way to dodge mass social events, for example, the arrangement of safety officers, execution of curfews, tear gas use, solid action against protestors, and so on. However, all the endeavors are not adequate for the dissent as the US people need last justice for George Floyd and Jacob.

  • United States immigration act!

Immigration is the exhibition of relocating or moving beginning with one spot then onto the following. Individuals move away from their nearby country by and large because of distinction about political trustworthiness, temperances, religion, working inclinations, and prosperity. Such reasons cause individuals to move to another country where such constraints may not be constrained upon them. Immigration was at an immaculate high during the commonplace period, and from this time forward, such people are known as outsiders.

Final thoughts!

Us politics has faced several changes from time to time, and it is expected to face more and more. We hope such political changes can make the US a better living place.

The latest NBA statement on Thursday has said that the playoff games scheduled on august 27 will likely be held in the upcoming time. The decision to delay is taken due to the corona pandemic. The NBA players are demanding more protection and changes in the social effects so that they can support the BLACK LIVES MATTER campaign. The officials are trying their best to secure the players’ health and safety on the basketball court.

To discuss the further strategy of the NBA league, a video conference between the vice president and a group of players representing the 13 teams has held in Orlando. The forum’s primary focus is to lead some social changes so that the NBA could also do something to minimize the racist difference between the back and whites. The decision of delay is not sudden several experts have predicted it before the delay has announced.

The news of delay can affect the league in terms of financial earning as various sponsors and advertisement companies seek a refund. However, it does not matter a lot as the NBA is one of the USA’s most-watched leagues. The league has introduced various news rules and regulations for the audience, such as thermal testing before entering the stadium, compulsory, mask, social distancing, etc. The steps are taken to protect people from the corona pandemic.

News of scheduled games after the announcement of the delay

After taking the decision of delay of playoffs, on Wednesday afternoon, the league officials have announced the schedule of three games that are played between Rockets versus Thunder, Bucks versus magic, and Los Angeles Laker’s verses Portland Trail Blazers. 

Due to the incident of shooting of black man “Jacob” several teams have demanded to end the league without continuing it further. The players and coaches met for several hours but resulted in no conclusion to discuss the topic. Most of the team members are against the continuing of the league as BLACK LIVES MATTER’s protest is now at its top.

Why are NBA players tending to boycott the league?

After the brutal incident of George Floyd and Jacob’s death, the players have announced the strike till justice is served. The US’s boycott movement is further joined by several national leagues such as the National hockey league, Major soccer league, National baseball league, etc.

According to several reports, the Florid bubble has first started the rest of the league’s boycott movement. However, the team got success in getting the sentiments of people and other NBA teams. Moving further, the restarting of the league is not likely to happen in upcoming days.

To support the movement, the NBA players are trying their best, and they also have introduced several slogans and quotes on the dress that they wear while playing in the stadium. Let’s see what happens next in the league after the delay of playoffs. Most of the survey has predicted that it is hard to restart the league as scheduled earlier.

The United States of America is the union of 50 states that is present in North America. This is one of the world’s largest economies stated as a mixed economy for several reasons. One of the most significant reasons is it is operating as the free market economy in the consumer goods and business services so that people can avail of maximum services and benefits from there.

But there is the fact that we should know that even such areas, the government is implementing multiple rules and regulations in order to protect the goods and services for all. These are the things and services that are operated as the command economy in the defense for serving the retired employees with numerous benefits. Moreover, there are several more things that you need to know regarding the U.S. economy; for serving the readers with sufficient information, we have given the detailed explanation below. Take a look here:-

Some interesting facts about the U.S. economy:-

There are several crucial components regarding the U.S. economy that is present that you need to know. These are the different economic indicators that enabled us to acquire more knowledge regarding how the U.S. economy is currently doing. Take a look below to know these things:-

  • GDP growth rate:- -31.7% is the annualized rate for the Q2 2020.
  • Gross domestic product (GDP):– there is a $19.5 trillion annualized nominal rate for the second most quarter or the Q2, 2020.
  • Minimum wage:– $7.25 every hour
  • Real GDP per capita:- Q2, 2020 – $52,387, i.e., this amount is for the current year (2020).
  • Gross national income:– 21.6 trillion i.e. PPP dollars (2019).

The U.S. Economy – measurements and things that they meant:-

The Gross Domestic product i.e., GDP, is capable of measuring everything produced in the U.S., either it is the citizens, companies, or the non-citizens; all of these things are included in it. Mainly, three critical measurements regarding the GDP are available; the nominal GDP measurements are the primary measurements to measure it.

This is the given annualized figure stating how essential it can be produced for the rest of the year will maintain the smooth running of the economy at the same rate. On the other hand, the real GDP is doing the same thing while removing the effects of inflation, and the economists used to compare the GDP over time. Hence, the gross domestic product growth rate uses the real GDP to calculate the growth rate that can be compared to the GDP of last year.

The final verdict

From the details described above, we can easily conclude to the fact that the U.S. economy is one of the massive economies in the entire world. It has the world’s eighth highest per capita GDP, i.e., nominal and the tenth-highest per capita GDP (PPP) in 2019. This is why the U.S. economy provides the citizens with a bulk of benefits and services while maintaining the current GDP easily. This year (2020), things have brought up several new changes that are drastic and unexpected.

The political system is a set of legal institutes that we often call as government. The governments or political systems make all the legal and constitutional regulations. In simple words, the political system is a simplified view of many complicated things; though it includes more systems, the political system is the one with authority over governments.

Government works on the political system’s influence, and it tells people and the economy what tasks it has to perform and according to what rules.

Some characteristics of the political system:

  • It is the permanent system and has a broad aspect than the others.
  • The political system has a different set of rules which separate it from the government.
  • It has specific structures for all the problems, objectives, goals, and many more.
  • By developing more designs, it leads the system to more different aspects.

Types of political systems

According to sociology, the political system is making sure of who holds power over the government and its people. The political system also holds power on knowing and making the government like the way it wants.

There are three types of it according to sociology; here are the details for the classes:

Authoritarian: In this type of politics, there is no power in people’s hands to represent. They have to obey their formal authority blindly. The leaders handle all the aspects of economics, foreign relations, and the military. Authoritarianism can also be said to be the same as Dictatorship because, in Dictatorship, one needs to do as ordered by the officials.

  1. Monarchy:

A king or queen controls this type of government, and they are selected in the way hereditary, or we can say as a predetermined line of hierarchy. In this modern era, there are two types of monarchies, Absolute monarchy, and Constitutional monarchy. 

An absolute monarchy works in the way of Dictatorship, the officials have all the authority, and the people have to perform what they are asked to do. 

A constitutional monarchy is when the royal family has limited powers and works while syncing with the party chosen through election by officials. 

2. Democracy:

Everyone is probably known to the facts related to democracy. A democracy is when the democratic representative is chosen through fair voting. The state citizens have a set of rights they can use against anyone if their goodwill or they face any injury to themselves.

The idea of democracy comes from ancient Greece. One gets the absolute right in the laws if they are feeling suppressed by any of the rules. In a democracy, everyone gets the right to speak freely, and they can also hire someone like a lawyer to do that for them.

At last, the political work in the defined set of rules of the country’s constitution. People also study politics to get a lot of analytical and practical skills, which can help them conduct research and get good with the concept of communication with others; they learn how they can keep their point on top without hurting the other person’s sentiments or ego.

The economy of the United States of America is one of the World’s largest economies. The economy of the USA is considered a mixed economy also. They call it a mixed economy because it operates as a free market for consumer goods and business services.

US economy also operates as a command economy. The US economy is the most powerful economy when it comes to technology. All the firms situated in the US have the best technology, which is why they are the most developed holder of all the industries. 

The US dollar is the most used currency when it comes to international transactions. The computers, medical, defense, and aerospace technologies are mostly exported from the US.

The US has the most considerable aspect of importing and is the second-largest when it is about exporting. It has a lot of free trade agreements with several nations, and some nations are under the deal of negotiation.

Major Influences on the economy of the US

The central bank of the US is the Federal Reserve System. Federal Reserve System controls the supply of money by changing the interest rates. And a lot of money banks are introduced in the open market operations so that it can help the supply when there is inflation in the market. This also enables a lot with the unemployment rate’s downfall.

When the money banks are opened in the open market, and the money supply increases, it is known as the expansionary monetary policy. This happens when the interest rates are lower, and there are many additions in the bank credits. This helps in the growth of the money, and the unemployment factor is reduced to a significantly lower amount.

In Contractionary monetary policy, the interest rates are raised, and the credits are removed from the banks. This makes the money supply go a little lower, and it also refrains the economy from growing.

Prices of the commodities change frequently; it can be a daily or weekly basis. By the change in prices of things, the contract prices also show growth in them. This commodity market has an unregulated influence on the economy of the US. Due to regular and unmeasured changes in prices, the traders face a lot of effects on the prices of imports and exports.

What is the role of supply and demand in the US economy?

Supply and demand are the main forces that give a push to the agendas of the US economy. Supply includes labor, natural resources, and employment. Whereas demand drives 70% of the economy, it occurs according to its consumption season. 

When there is a recession, unemployment is increased simultaneously. People get a feeling of discouragement, and they lose hope of finding a job, which gives them a lot of anxiety.

There are four basic laws of supply and demand.

  1. If there is an increase in demand, the supply is unchanged.
  1. If the demand is decreased, the supply remains unchanged.
  2. If the supply increases, the demand remains unchanged.
  3. If there is an increase in supply, the demand remains unchanged.