By: Elena Grace Flores
Billionaire investor Warren Buffett is so committed to endorsing Hillary Clinton that he is willing to take people to the poll who have difficulty in going there. What’s surprising is, Buffet and Trump are from the business sector – but he despised Donald Trump so much that he is questioning his tax returns and his ignoring independent business people or small-time entrepreneurs.
At the Nebrasks campaign with with Hillary Cl, Buffett scrutinized Trump’s business record, questioning his bankruptcies and his not releasing his tax returns. The so-called “Omaha Oracle” then announced a new campaign called “Drive 2 Vote,” hoping to bring out voters in Nebraska’s second congressional district, offerring a single Electoral College vote to the district winner.
Buffet promised this: “I will take at least 10 people to the polls who would otherwise have difficulty getting there,” said Buffett, and added that he had reserved a 32-seat trolley for the day to be able to reach the highest-percentage turnout of any congressional district in the country. “Let’s give America a civics lesson;”he urged everyone.
Trump responded to the Muslim-American family who spoke against him at the Democratic National Convention by attacking Khizr and Ghazela Kahn, whose son in the US Army was killed in Iraq in 2004.
Buffett described Trump’s attack as “the final straw,” just because his family had not sacrificed like military families and he knew nothing about losing a beloved through war.
Meanwhile, Clinton seeks to woo moderate and independent voters. In fact, Dallas Mavericks owner Mark Cuban campaigned with Clinton over the weekend, as well as former New York City Mayor Michael Bloomberg delivered a searing indictment of Trump’s economic proposals during the Democratic National Convention.
Before several thousand people gathered at an Omaha high school, Buffett also challenged Trump to show off their tax returns in one venue. He added that after Trump listed his casino and hotel company on the New York Stock Exchange before in 1995, investors lost money, even though in 1995 they can easily make money on anything.
Buffett asserted even more that the tax policy favors the wealthy despite being wealthy himself, which Clinton agreed, thus pledging to implement more taxes on the rich. Clinton further criticized Trump’s love for foreign products that is killing their own economy.If the district has the highest percentage of voters and if Clinton wins, we can expect Hillary and Warren to be back in the streets of Omaha dancing together and probably Warren in an Elvis costume once again again.
By: Elena Grace Flores
Political change, territorial disputes, excessive production, terrorist attacks and influx of refugees are major world problems affecting the global economy as discussed by the 20 largest economies recently. Brexit really did affect world investments also due to the confusion as to what the UK’s move will be in relation to the EU and its members. However, despite the split, the UK will continue to nurture alliance with European countries. This is why sooner or later the economy worldwide is expected to rise up again. Here are the details of the G20 forum:
BBC Reported: The UK’s vote to leave the European Union heightens risks for the world economy, finance chiefs have said at the end of the G20 summit in China. The outcome of last month’s referendum “adds to the uncertainty” for the global economy, the group of the world’s 20 largest economies said.
It urged the UK to remain “a close partner of the EU”, amid concerns Brexit talks could be acrimonious. Chancellor Philip Hammond said Brexit had come up “a great deal” at the G20. “The reality is there will be a measure of uncertainty continuing right up to the conclusion of our negotiations with the EU,” he told reporters. Following the meeting in the Chinese city of Chengdu, the G20 group said it had the tools to cope with the potential economic and financial consequences from the referendum result. Other factors complicating the world economy include geopolitical conflicts, terrorism and refugee flows, according to the G20. The president of Germany’s central bank, Jens Weidmann, said there were no signs yet that economic development in Europe had been affected by the UK’s referendum on 23 June. The G20 members agreed that despite the Brexit vote the global economy would improve in 2016 and 2017, Mr Weidmann said.
It added: However, new figures on UK companies in the three months to the end of June have raised concerns about the health of the economy before the Brexit vote. Sixty-six UK listed companies issued profit warnings in the second quarter, which was the most for that period since the financial crisis in 2008, according to accountants EY. Alan Hudson, EY’s head of restructuring in the UK and Ireland, said: “It’s been a dizzyingly unpredictable time since the UK voted to leave the European Union. “What we saw in the second quarter – and are still seeing now – is the initial impact of this uncertainty.” Analysts expect economic data on Wednesday to show the UK economy grew by about 0.5% in the second quarter compared with the previous three months. Last week the International Monetary Fund (IMF) downgraded its forecasts for UK economic growth, from 1.9% to 1.7% for 2016, and for the global economy, from 3.2% to 3.1%. On Sunday IMF managing director Christine Lagarde said the G20 had taken place at a time of “political uncertainty from the Brexit vote and continued financial market volatility”. In a statement the G20 finance officials said the global economic recovery was continuing “but remains weaker than desirable”. Separately, G20 policymakers said they recognised that excess steel supply was a global issue. The excess capacity of steel has had a negative impact on trade and workers and requires a collective response, they said.
By: Elena Grace Flores
You may be wondering why the gasoline prices in the Philippines are now going down as series of roll backs are currently happening. This is the influence of the international speculation that there will be an over supply as the US increases its production. The recent roll backs are as follow:
Flying V ROLLED BACK
₱0.10/L Rush97, Thunder95, Volt91;
eff 12:01AM July 26,2016
Shell ROLLED BACK
₱0.10/L VPN+ Racing97, VPN+95, FuelSave91;
₱0.35/L VPN+ Diesel; FS Diesel;
eff 06:00AM July 26,2016
Petron ROLLED BACK
₱0.10/L Blaze100, XCS95, Xtra91;
₱0.35/L Turbo Diesel, Diesel Max;
eff 12:01AM July 26, 2016
Caltex ROLLED BACK
₱0.10/L Platinum95, Silver91;
eff 12:01AM July 26, 2016
BBC reported: Oil prices have fallen to a three-month low, hit by rising concerns that a global oversupply of both crude and natural gas will dampen prices. US oil fell 2.4% to $43.11 (£32.72) a barrel, its lowest level since April, meaning it has now fallen by 12% so far this month. Brent crude dropped 2.1% to $44.75, its lowest level since 10 May. Shares in oil and firms also lost ground, with Exxon Mobil shares down 1.8% and Chevron down 2.6%. “Crude oil markets have been under pressure as oil supplies have started growing with the resumption of output from the capacity lost due to wildfires in the Canadian oil sands,” said EY energy analyst Sanjeev Gupta.
Data from market intelligence firm Genscape also suggested US production had increased. Inventory at the Cushing, Oklahoma delivery base rose by 1.1 million barrels in the week to 22 July. “Supply continues to return from disruptions, refined products are severely oversupplied, crude demand is falling well short of product demand, and key product demand is decelerating,” Morgan Stanley said in a note.
On Friday, data showed the amount of US oil and gas extraction points had increased for the fourth week in a row. The slump in prices from as high as $115 per barrel in 2014 led many shale oil producers to cut the number of rigs as producing oil was no longer profitable. But despite a decrease in American crude supplies over the past year, there are still large stocks of gasoline in the country, even as the US hits its summer driving peak.
The value of the dollar which has steadily risen over the past month has also put pressure on crude oil prices.
By: Elena Grace Flores
Brexit orBritain’s exit from the EU has brought surprising actions from the British government. Perhaps, they are just weighing trade opportunities to retain a healthy economy after it slumped a bit after Brexit. Exploring free trade with China can be misinterpreted as showing rebellion to EU after gaining their freedom from it but others put it as their way of learning the hard way. Perhaps they wanted to experience China’s unfair trade practices, mass produced sub standard products and sometimes dangerous product contents. On the other hand, they are also on there way to have some talks with China’s rival, India – another giant in Asia, but it is not known yet what will come out from that. Clearly still in the exploration stage. Read this:
The Inquirer wrote: LONDON, United Kingdom — Britain’s finance minister warned Brexit would cast a “shadow” over the world economy but said he was eyeing a free trade deal with China in interviews with the BBC and Sky News on Sunday. Speaking on the sidelines of the G20 meeting of leading world economies in Chengdu, China, Philip Hammond told Sky that the vote to leave the EU was “not the only shadow the world economy faces”. “There is going to be uncertainty about the outcome hanging over the world economic outlook for perhaps the next couple of years,” Hammond said.
It added: China President Xi Jinping before the referendum had said that he hoped Britain would remain in the 28-nation bloc to promote the “deepening development of China-EU ties.” Senior figures from some of Britain’s biggest financial services companies, including HSBC, Virgin Money, the London Stock Exchange and Standard Life were travelling with Hammond. Prime Minister Theresa May also discussed a trade deal with Australia in a phone call with Prime Minister Malcolm Turnbull earlier this month. Foreign Office junior minister Alok Sharma was also travelling to India on Monday on his first visit since his appointment. “Britain is open for business and thriving on the world stage. We want the strongest possible relationship with India,” Sharma said.
By: Elena Grace Flores
Now that Senator Koko Pimentel is already the confirmed Senate President, he has to stand by his promise to jail former Vice President Jejomar Binay for the alleged corruption committed when he was still mayor of Makati. In fact, Ombudsman Conchita Carpio Morales echoed that by filing cases against him without probable cause and no concrete evidence – just hearsays. Koko was noted saying that Binay would probably be the first big fish who is going to prison for that matter and headlines flashed around tri-media including social media.
Well, this is what most Makati residents are saying in response to that. “Binay is not a big fish, Koko – he teaches people how to fish and you should learn that also as a public servant. His public services in Makati are second to none. Up to this date, you are considered privileged if you get a Makati resident and medical cards – that existed even before the plan of creating a national ID card for Filipinos. Do you know why? It is easy to print cards but even that most of past governments cannot do. The difficult part is coming up with concrete benefits to offer to Filipino Citizen card holders.
Senator Koko Pimentel, now that you have the power to create legislation that would benefit Filipinos, can you at least try to come up with various privileges that a Filipino can have under the Duterte administration? Will a Filipino ID card holder be prioritized in the country’s top paying jobs? Will they get livelihood loans to start businesses? Can their children go to quality schools for free? Most of all, can they get hospitalized without worrying about the cost? Wait until you can accomplish these before even thinking of jailing Binay who had done all of these for the citizens of Makati. For now, learn from him.