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Harley-Davidson’s ‘LiveWire’ Electric Motorcycle Hits the Market in Early 2019

Harley-Davidson is trading the full-throated roar of its iconic gasoline-driven motorcycles for the wheezy whine of an electric engine bike.

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Arthur J. Villasanta – Fourth Estate Contributor

Milwaukee, WI, United States (4E) – Harley-Davidson is trading the full-throated roar of its iconic gasoline-driven motorcycles for the wheezy whine of an electric engine bike.

The firm, which has been plagued by weak sales, wants to get people, especially Americans, more interested in its HOGS by turning electric. Harley last week unveiled its “LiveWire electric motorcycle” at the famous EICMA motorcycle show in Milan, Italy. The move is part of Harley’s campaign to become a world leader in electric and hybrid motorcycles, and to attract a new kind of younger customer.

The Harley-Davidson LiveWire is Harley-Davidson’s first electric bike. It was displayed to the media in June 2014. It can reach 0-60 mph in under four seconds, which is faster than any internal combustion engine bike.

Harley CEO Keith Wandell said LiveWire is part of an effort to reach a more diverse group of riders, including “18 to 35-year-olds, women, African-Americans and Hispanic riders.” In January 2018, Harley said LiveWire had entered production and will hit the market in 18 months or by early 2019.

LiveWire is also a radical departure for Harley-Davidson, which is world famous for its big and heavy road bikes affectionately known as “hogs” bought mainly by middle-age white men. Harley-Davidson, however, has signaled it’s time for a change as the market for bikes continues to age, literally. Almost half of all its motorcycle riders are 50 or older.

This is where LiveWire, which is targeted at a younger and more diverse demographic, comes in.

LiveWire is a pretty powerful machine with 74 horsepower and 52 pound-feet of torque. In an electric bike, full torque is available as soon as you roll-on, regardless of vehicle speed/motor rpm. This advantage alone makes electrics punch a lot above their weight.

Electric motors offer peak torque immediately from standstill. this means all the motor’s power is immediately available, giving the bike extremely rapid acceleration. In contrast, internal combustion engines need to shift gears as a motorcycle increases speed, slowing acceleration.

The LiveWire’s top speed is governed at 95 mph. Its power comes from a 7 kWh storage cell and 55 kW, oil-cooled three-phase motor.

In recent years, Harley-Davidson has gone all-out to attract more riders, including younger ones. It unveiled a 10-year plan in 2017 to attract two million new riders by 2027 by focusing on electric bikes.

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Finance

European Central Bank Finally Ends Massive QE Program

On December 31, the European Central Bank (ECB) will formally end its almost four-year old quantitative easing (QE) program that prevented the euro zone economy from succumbing to its own version of the U.S. Great Recession of 2008.

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Arthur J. Villasanta – Fourth Estate Contributor

Frankfurt, Germany (4E) – On December 31, the European Central Bank (ECB) will formally end its almost four-year old quantitative easing (QE) program that prevented the euro zone economy from succumbing to its own version of the U.S. Great Recession of 2008.

ECB will stop expanding the multi-trillion Euro asset purchasing program, and will instead switch to reinvesting cash from maturing bonds to purchase additional debt. These purchases should keep borrowing costs on the low-end until 2021.

The ECB Governing Council confirmed that bond purchases will plunge from €15 billion a month to zero by the end of the year. It also left benchmark interest rates unchanged.

Introduced in March 2015, ECB’s QE program saw the bank buy more than €2.6 trillion ($2.9 trillion) in a successful bid to prevent the bloc’s banking system from unraveling. The QE measures are widely credited with helping revive the 19-member currency bloc after a double-dip recession and the holdover effects of the European debt crisis.

“With the most prominent crisis-fighting measure of the ECB now almost back in the toolbox, the big question is, what will be next?” asked Carsten Brzeski, chief economist at ING. “It seems as if the ECB wants to keep as many cards as possible close to its chest,” Brzeski said.

The timing of the ECB’s move, however, is contentious. Political developments in the United Kingdom over Brexit; Italy over excessive government spending and France over street violence seems to question the wisdom of ending QE by year-end.

The ECB meeting comes a week ahead of the U.S. Federal Reserve’s December meeting where it is expected to raise interest rates one-quarter point, its last for the year. Slowing growth in the U.S. and worldwide, due partly to Trump’s trade war, has some economists expecting the Fed to forego the next quarter-point rate hike in March.

The U.S. economy is showing clear signs of slowing down while its three equities markets have been wracked by extreme volatility linked to Trump’s trade war for the past two months.

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California’s Housing Crisis Spiraling Out of Control

California’s four decades’ old housing shortage now threatens to strangle the high-tech industries on which it relies for prosperity while hurling more people into poverty and inflating the ranks of the homeless.

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Arthur J. Villasanta – Fourth Estate Contributor

Sacramento, CA, United States (4E) – California’s four decades’ old housing shortage now threatens to strangle the high-tech industries on which it relies for prosperity while hurling more people into poverty and inflating the ranks of the homeless.

The current housing shortage has been estimated at 3 to 4 million housing units, or some 20% to 30% of California’s current housing inventory of 14 million. That’s not enough for the new jobs being created at Silicon Valley.

San Francisco Bay area cities added 400,000 new jobs but only issued 60,000 permits for new housing units from 2012 to 2017. As a result, the housing crisis is damaging the state’s high-growth economy as employers now have to contend with an increasing shortage of skilled workers who can’t find housing.

State officials estimate that California needs to build 180,000 new units of housing every year. Housing has topped 100,000 units in recent years, but that’s far short of the demand

This shortage is especially acute in coastal areas where the housing squeeze is the tightest. This supply dearth is worsened by stiff local resistance to housing construction. Several California counties such as Ventura County and a number of cities have adopted Save Open Space and Agricultural Resources (SOAR) restrictions that make it almost impossible to build housing on agricultural land.

Worse, the wildfires that devastated communities in Ventura County and other regions are adding to the housing squeeze.

One of the dire consequences of this huge imbalance between supply and demand is that California now has the 49th lowest ratio of housing units per resident in the United States. The worst result is sky high real estate prices. Median home prices now stand at $1.3 million in San Francisco and $1 million in San Jose, for example.

Worse, the housing crisis has exacerbated old social ills. Homelessness per capita is now the third highest in the U.S. while less than a third of Californians can afford a median priced home. California’s has the country’s highest level of poverty.

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U.S. CEOs Predict Economic Recession by Year-end

It’s the post-Christmas “gift” no right-minded person wants to receive — but a recession might be in the offing before this tumultuous year ends.

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Arthur J. Villasanta – Fourth Estate Contributor

New York, NY, United States (4E) – It’s the post-Christmas “gift” no right-minded person wants to receive — but a recession might be in the offing before this tumultuous year ends.

A demoralizing new survey shows American CEOs think a recession might strike as early as the year-end only two short weeks away. Economists and investors alike have been sounding the alarm for months about the likelihood of an economic recession, one of whose main triggers is the economic uncertainty caused by Trump’s trade war.

A New York Times survey surprisingly revealed that almost half of the 134 business leaders at the Yale CEO Summit expected a recession to strike by the end of the year. It said this finding was the direst yet, and shows just how worried corporate executives are about an imminent recession.

A full 67 percent of the leaders cited U.S. political instability — especially Trump’s poor performance as president — and Trump’s trade war with the world as the major triggers for the upcoming recesison.

The U.S. has enjoyed a record 10 years of economic growth since the Great Recession of 2008, and by all measures, is due for a recession. Analysts said the gnawing fear about the oncoming recession is reaching fever pitch.

“The end is near for the near-decade-long burst of global economic growth,” predicted John Graham, a finance professor at Duke and overseer of the survey.

The findings from the New York Times survey also coincide with a Duke University Fuqua School of Business survey earlier this month that found nearly half of all U.S. CFOs also believe a recession is near but predicted it will hit by the end of 2019.

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