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Trump and Harris clash over the election's main topic

alexdriado 2024. 08. 19. 2:41

After almost a year off the platform, Donald Trump returned to X this week and asked his 89 million followers: “Are you better off now than you were when I was president?”

It was a clear echo of the famous quote from Ronald Reagan during his victorious 1980 presidential campaign, when he asked: “Are you better off today than you were four years ago?”

This messaging isn’t surprising. It seems like an obvious strategy for Trump to focus on the economy.

That’s because polls consistently suggest it’s the issue American voters care about the most. One such poll conducted by The Economist and YouGov in recent days listed “inflation/prices” and “jobs and the economy” among voters’ top concerns.

Perhaps more importantly, polls also indicate voters are deeply unhappy with the current state of affairs.

That seems like a perfect situation for any presidential challenger.

But in an election that’s been transformed by Kamala Harris taking over from Joe Biden as the Democratic candidate, Trump seems to be struggling to land his simple message on the economy.

It is less than a month since he was on stage at the Republican National Convention looking unbeatable, having survived an assassination attempt and riding high in the opinion polls.

Now, he has lost that lead and seems to have lost his way. Meanwhile, in the opposition corner, Ms Harris is riding a wave of excitement and enthusiasm that he is finding difficult to counter.

The easiest way to burst her bubble would be to remind voters how unhappy they are about high prices and blame her for the inflation that has pushed up the cost of living during the time she has been beside President Biden in the White House.

One of the reasons Trump is failing to land that message is the Harris campaign’s strategy of putting proposals to try to lower the cost of living at the heart of her pitch.

In a speech in North Carolina on Friday, Ms Harris promised to expand child tax credits, help people to purchase their first homes, and to encourage the building of more affordable housing.

She also said she hoped to tackle the persistently high price of food and groceries by banning “price gouging” or excessive corporate profiteering.

"By any measure, our economy is the strongest in the world,” she said. “Many Americans don't yet feel that progress in their daily lives."

Joe Biden and Kamala Harris ought to be able to boast about some very good economic indicators. There is strong growth, record levels of job creation, and this week the inflation rate fell below 3% for the first time during Mr Biden’s presidency.

But because prices are still high, voters don’t feel any better off. Voters don’t care about the rate of inflation – they care about the level of prices.

“A central banker wants inflation to get back to target. A shopper wants his or her old price back," Jared Bernstein, the chair of President Biden’s Council of Economic Advisers, said in a July speech.

When it comes to the economy, “the vibes are off”.

“Vibes matter,” Mr Bernstein said.

So will the bad economic vibes hurt the Harris campaign?

That is what I asked voters over lunch at a crab shack on the Chesapeake Bay in Maryland.

Jeff Tester, who works in a nearby marina, said high prices are really hurting him.

“I get paid by the hour. I get up to go to work every day. I think you have to do that to get the American dream,” he said. “But I just know it's getting harder.”

And he is very clear about who he sees as responsible. “I blame the Democrats. I believe their policies are hurting the working man,” he said.

Every diner I met complained about inflation, but not everyone held Mr Biden or Ms Harris responsible.

Dan Nardo, a retired boat broker, said he believed the pandemic, oil prices, foreign wars and supply chain issues have more to do with price rises than the US president.

His friend Randy Turk, a retired lawyer, told me that he felt a new administration is likely to follow a similar path to try to reduce inflation, regardless of who wins.

“It's not like a different president can really make that much of a difference,” he said.

Ms Harris struggled for prominence and media coverage during most of her time as vice-president. Previously that was seen as a weakness. But if it means she can emerge untainted by “Bidenomics”, it could be one of her greatest strengths.

Ruth Igielnik, polling editor at the New York Times, says the latest data she has collected suggests “voters very much tied their negative feelings about the economy to Joe Biden”.

Talking to me on the BBC’s Americast podcast, she explained that in her polling Trump is still favoured on the economy, but where he once had an 18-point lead over Mr Biden he now leads Ms Harris by only about 8 points.

“That makes me think voters aren’t necessarily attaching their feelings about the economy to her,” she said.

A separate poll this week conducted for the Financial Times and the University of Michigan Ross School of Business indicated Ms Harris holds a narrow lead over Trump on who Americans trust to handle the economy.

No wonder Republicans are publicly begging Trump to focus on the issues, the economy in particular, and stop launching personal attacks against Ms Harris.

In a speech this week, Trump told supporters he was going to talk about the economy but struggled to stay on topic.

“They say it’s the most important subject,” he said, "they" referring to his advisers and strategists who believe this is his strongest line of attack.

“I’m not sure it is. But they say it’s the most important,” he added, before going on to list immigration, crime and the way Ms Harris laughs as top issues. You could practically hear his campaign managers pulling their hair out.

“Voters don’t care about personalities or who is drawing larger crowd sizes,” said Matt Terrill, former chief of staff for Marco Rubio’s presidential campaign.

“Independent, undecided, swing voters in key states care about the economy and inflation so just focus on those core issues,” he said.

“Stay focused on talking about how you are going to make the lives of Americans better over the next four years.”

It was back in 1992 that the Democrat Jim Carville coined the slogan “It’s the economy, stupid” while he was working on Bill Clinton’s presidential campaign.

It’s advice that every campaign since has clung to. But Trump, this time around, seems to be finding it uncommonly difficult to stick with.

It ought to be a winner for him. After all, according to the Financial Times poll, in answer to his question “Are you better off now than you were when I was president?” only 19% of voters say they are.

Tovább

Liverpool and Arsenal picked up wins, while Chelsea and Palace drew

alexdriado 2024. 08. 12. 9:04

Liverpool manager Arne Slot's first game at Anfield ended with a comprehensive 4-1 victory against Sevilla.

Slot has taken over the Reds following the departure of Jurgen Klopp and his side went into the game against the La Liga team on the back of wins against Real Betis, Arsenal and Manchester United during a pre-season trip in the United States.

Diogo Jota gave Liverpool the lead when he struck a first-time left-foot volley from Trent Alexander-Arnold's pass.

Alexander-Arnold, Alisson Becker, Luis Diaz, Virgil van Dijk and Alexis Mac Allister all started for the Reds in their first pre-season outings.

Diaz scored two more for the home side before half-time after being set up by Jota and Dominik Szoboszlai.

Peque Fernandez pulled one back for Sevilla after the break before 17-year-old Liverpool substitute Trey Nyoni added his side's fourth with a smart finish.

Liverpool then played Las Palmas at Anfield in a behind-closed-doors friendly, with Darwin Nunez making his first pre-season outing since returning from Copa America duty with Uruguay.

Scotland left-back Andy Robertson, who also started against Las Palmas as he returned from injury, came closest to scoring when his shot hit the post in a goalless draw.

Chelsea manager Enzo Maresca was also taking charge of his first match at Stamford Bridge as the Blues earned a 1-1 draw with Italian champions Inter Milan.

Maresca replaced Mauricio Pochettino at the helm of the London side in the summer and he had forward Cole Palmer and defender Marc Cucurella available after their return from Euro 2024.

Both played a part in a game in which Marcus Thuram gave Inter the lead before Lesley Ugochukwu equalised in the final moments.

Chelsea also introduced new signing Pedro Neto to their fans at half-time, with the Portuguese forward joining for an initial £51.3m and a possible further £2.6m in add-ons.

Arsenal, who have finished second to Manchester City in the past two seasons, rounded off their pre-season campaign with a 2-0 win against Lyon.

William Saliba and fellow defender Gabriel both scored with headers from Declan Rice corners in the first half.

Italy defender Riccardo Calafiori has joined the Gunners from Bologna this summer and he made his first appearance for the club when he replaced Oleksandr Zinchenko in the second half.

Crystal Palace defender Marc Guehi has been linked with a move to Newcastle United, while team-mate and fellow centre-back Joachim Andersen has been the subject of a £20m bid from Fulham.

However, both started for the Eagles as they drew 1-1 with Nantes. Jean-Charles Castelletto put the French side in front before Daichi Kamada equalised.

Tovább

Intel cuts 15,000 workers after sales fall

alexdriado 2024. 08. 03. 6:55

US chip-maker Intel has said it plans to cut more than 15,000 job cuts as it seeks to revive the business and catch up with competitors.

Shares in the company plunged by up to 20% after it announced the measures, and also reported falling sales.

The news from Intel also hit other shares in other tech giants, and contributed to a sharp fall in Asian stock markets.

Japan's Nikkei share index closed down 5.8%, the largest percentage fall since March 2020 at the start of the pandemic, with Japanese tech firms among the biggest losers.

The Nikkei ended the day down 2,216.63 points at 35,909.70, the second-biggest points drop in its history, with worries about the strength of the US economy also affecting stocks.

A downbeat survey of US manufacturing firms triggered fears the economy is weakening, and has increased interest in the latest US jobs figures that are due out later on Friday.

The three major share indexes in the US closed lower on Thursday, and shares in big names, including Amazon, continued to fall in after-hours trade.

Amazon shares dropped more than 4%, after the e-commerce giant reported a 10% rise in sales to $148bn.

That marked a slowdown from the prior quarter and it forecast further weakening in the months ahead, putting pressure on margins, even as the firm ramps up investments in areas such as artificial intelligence (AI).

'Bolder actions' needed
Intel has been struggling as businesses turn to rivals such as Nvidia, known for its powerful AI chips.

The company said sales fell 1% year-on-year in the three months to June and warned that the second half of the year would be worse than expected.

"Our revenues have not grown as expected – and we’ve yet to fully benefit from powerful trends, like AI," chief executive Pat Gelsinger wrote in a memo to staff.

He said the situation required "bolder actions" and the firm had to "fundamentally change the way we operate".

Intel has slashed investment plans and also said it would suspend dividend payments.

"It's really having to pull back on spending on its data centres and it’s struggling to take market from other providers, so it’s a real shock to the market," Lucy Coutts, investment director at JM Finn, told the BBC.

There was better news from Apple, which saw sales rebound in spring, overcoming weakness in China and a dip in iPhone sales.

Revenues in the three months to June were $85.8bn (£67.3bn), up 5% year-on-year and marking a return to growth after a slump at the start of 2024.

Apple said it was well positioned to benefit from the increased use of AI, as AI-powered improvements to the company's software convince customers to upgrade their devices.

The company recently released some of the new features, branded as "Apple Intelligence", to developers in the US.

The new system makes it easier for iPhone users to record and transcribe phone conversations, generate personalised emojis while messaging and interact more conversationally with the company's voice assistant, Siri, among other changes.

"We remain incredibly optimistic about the possibilities of AI and we will continue to make significant investments in this technology," said Apple boss Tim Cook.

Over the April to June period, sales of iPhones slipped 1%, a drop outweighed by increased sales of Macs and iPads.

Apple also reported an all-time record in revenue from its services division, which includes offerings such as Apple Pay and Apple News.

Tovább

Trump is attempting to win votes and cash from the cryptocurrency industry

alexdriado 2024. 07. 29. 10:52

At a bitcoin event that is considered to be one of the most significant of the year, Donald Trump has stated that if he gets re-elected as president, he will immediately remove the chairwoman of the United States Securities and Exchange Commission (SEC) from their position.

On Saturday, President Trump delivered the keynote address at Bitcoin 2024, which was held in Nashville, Tennessee, and was attended by prominent figures in the sector.

The candidate for the Republican presidential nomination utilized the event as a means of courting voters and encouraging donations from members of the technology community.

A political battleground for Republicans has emerged in the form of cryptocurrency, with President Trump asserting that the Democratic Party and Vice President Kamala Harris are "against crypto."

When Trump made the announcement that "on day one I will fire Gary Gensler," the chair of the Securities and Exchange Commission (SEC) who had been selected by the current President Joe Biden, the audience was at its most animated. At the moment that this proclamation was made, the crowd began to chant "Trump" and cheer heartily.

It was Mr. Gensler who spearheaded the charge to crack down on the cryptocurrency industry. He has stated in the past that the market is filled with "hucksters."

"King of Crypto" Sam Bankman-Fried was sentenced to 25 years in prison for stealing billions of dollars from consumers of his cryptocurrency exchange, FTX. The Securities and Exchange Commission (SEC) pressed charges against Bankman-Fried.

In a speech that lasted approximately forty-five minutes, Trump presented a few of the suggestions that he would make regarding the industry in the event that he were to win the election in November. It was his promise that the United States will become the Bitcoin capital of the world. In 2021, he told Fox Business that he considered Bitcoin to be a "scam" that would have a negative impact on the value of the United States dollar. Subsequently, he has changed his mind and is now supporting the business.

The attendees at the event was informed by Trump that he would preserve one hundred percent of the Bitcoin that the United States government now possesses or acquires, and he added that this would constitute a "national Bitcoin stockpile."

In addition, the former president of the United States stated that he would "immediately appoint a Bitcoin and crypto presidential advisory council."

He also discussed the amount of power that is required to mine cryptocurrencies. It was his statement that "you need tremendous amounts of electricity," and he went on to say that he would construct power plants "to get that done" and would be "using fossil fuels."

Over the past few months, supporters of Trump's presidential campaign have been growing among a number of influential figures in the technology industry. Elon Musk, the founder of Tesla and the richest person in the world, has expressed his support for Donald Trump. Additionally, crypto tycoons, the Winklevoss twins, who were present at the address on Saturday, have come out in support of him personally.

Trump brought up the fact that his campaign accepts donations in cryptocurrencies, stating that in the two months since he enabled cryptocurrency transactions, he has received a total of twenty-five million dollars (or twenty million pounds). On the other hand, he did not specify the percentage of the payments that were made using cryptocurrencies.

During his speech, Trump attempted to portray the regulation of cryptocurrencies as a partisan issue by claiming that the administration of Vice President Joe Biden was "anti-crypto."

Several members of the Republican legislative branch, including Senators Tim Scott and Tommy Tuberville, were present for the speech that President Trump delivered. In addition, Vivek Ramaswamy, a former candidate for the Republican presidential nomination and a supporter of Trump, was present.

The event also featured speeches by Robert F. Kennedy Jr., an independent candidate for the presidency, as well as Wiley Nickel and Ro Khanna, both of whom are members of the Democratic Party.

Nickel, a member of the Democratic Party, stated earlier at Bitcoin 2024 that Kamala Harris was adopting a "forward-looking approach to digital assets and blockchain technology."

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Tovább

The resistance of Spain against the overwhelming influx of tourists

alexdriado 2024. 07. 22. 8:39

If you manage to secure a spot under the sun in Majorca this summer, you will be able to witness two powerful forces in action.

The ancient waves of the Balearic Sea, as old as time itself, meticulously wash away the carefully built sandcastles of the day.

The next one, a contemporary trend, is the overwhelming wave of tourism that is on the verge of engulfing everything in its way.

Not a single spot of sand is left unoccupied on the beach. Discovering a spot to park is as rare as finding a treasure.

If you abandon your lounge chair for an extended period, your belongings are promptly removed to accommodate the eager line of potential intruders.

The island is alive with signs of a thriving economy, especially evident in the constant chirping of contactless payment devices in the bustling hotels, eateries, and bars.

A symphony of trade driven by an unprecedented influx of tourists.

However, if we are talking about a story where immense riches rain down on a financially astute Spanish neighborhood, Sonia Ruiz has definitely not received a single drop of it.

Encounter the 31-year-old mother of one in a park located a short distance from the coastline in the capital city of Palma.

Luca, her four-year-old son, navigates the different playground slides effortlessly, showing no signs of worry.

Sonia is facing a great challenge. The landlord has requested their departure, and she claims that locating a new residence is an insurmountable task.

"Each day I search, and each day the rent climbs higher," she laments.

I go as far as stopping passersby on the street to inquire if they possess any items, as the day draws near when I must vacate the apartment. I fear the thought of my son and I ending up without a roof over our heads, as we have nothing at all.

Sonia and her partner are no longer together, but they find themselves in a situation where they must coexist under the same roof due to financial constraints. Even though their combined monthly income is 2,400 euros, they are unable to cover the rent separately.

"Multiple months' worth of deposits are requested from you." There are even those who have expressed to me their lack of desire for children or pets. And there are countless individuals searching.

This weekend, Sonia, along with numerous residents of Majorca, is taking a stand against the increase in tourism that is being held responsible for the decline in the quality of life for the local community.

According to activists, the soaring prices of housing are fueled by a significant amount of properties being purchased by foreigners, or at least leased to them for extended periods during the summer.

"Maintaining this type of model is simply unfeasible," expressed Pere Joan Femenia, a 25-year-old, as he stood outside the cathedral in Palma, the capital of Majorca.

He belongs to a group known as "Menys Turisme, Més Vida", which translates to "Reduced Tourism, Enhanced Living".

According to him, an extraordinary amount of tourists are not only causing locals to be unable to afford housing, but they are also depleting public areas, services, and natural resources.

Five years ago, Pere embarked on his journey as an activist within Greta Thunberg's environmental movement. However, his attention has now turned towards the economic challenges faced by his island community.

The shift in businesses from selling conventional goods to multinational corporations offering ice cream is causing us to lose our unique identity. He expresses the importance of safeguarding our cultural heritage.

Pere gestures towards the harbor, located far away from the lines of merchants and bustling crowds that occupy the plaza, mentioning that certain cruises unload up to 12,000 tourists daily on the island.

According to him, the belief that Majorca depends on constantly growing tourism to thrive is a misconception. In fact, numerous residents are getting ready to depart permanently as they are no longer able to afford living on the island.

Pere defends that implementing restrictions on incoming flights and docking cruises will promptly alleviate the strain on the island.

This requirement will be included in the catchy phrases and flags waved through the streets of Palma during the demonstration this weekend.

According to the Spanish National Institute of Statistics, the Balearic Islands received a total of 14.4 million foreign visitors last year, with Majorca being the most popular, followed by Menorca and then Ibiza.

According to the institute, there was a 9.1% rise in the amount of foreign tourists visiting the archipelago in comparison to 2022, with their expenses increasing by an even greater margin of 16.4%.

Activists argue that considering Spanish tourists as well, the Balearic Islands could welcome a total of 20 million visitors this year.

As the popular destinations in Spain have evolved over the years, the discussion about whether the numerous tourists bring more challenges than advantages has grown more heated.

This year, it seems like there has been a shift in the air. The rage bubbling up among numerous residents has escalated to a fresh peak, as vividly illustrated in a recent incident in Barcelona where tourists were soaked with water guns.

Protests have also taken place in other parts of the country, such as Malaga on the mainland and in the Canary Islands. The popular tourist destinations in Spain are now seeking ways to deter a seemingly unstoppable flood.

In the summer of 2024, certain British newspapers put together compilations of "unwelcoming vacation destinations" that should be steered clear of.

In the bustling shores of Magaluf, a popular spot for countless British vacationers, the Green family from Rotherham is joyfully wading in the water.

Dad Adam is embarking on his inaugural journey overseas, although labeling it a "vacation" might be a bit of a stretch since he and his wife are closely monitoring their seven children.

"It's a whirlwind, but we're making progress." "It's fantastic, except for the scorching heat," he comments.

I inquire if they are aware of the different demonstrations happening and if this has given them pause when considering visiting Majorca.

Charlotte mentioned that she caught a glimpse of the news, but she made a conscious effort to avoid watching it in order to prevent feeling overwhelmed and ruining her excitement for the trip that was already planned and paid for.

What do you think about the main point of view of the protesters in the area, who argue that the growing tourism is causing a significant adverse effect?

"Could it be that tourists are the ones who enhance this place and generate income?" inquired Adam.

Individuals journey across the globe, and that's the extent of it. If tourists were not present, there would be no employment opportunities, no salaries, nothing at all. Do they not depend on it?

Tovább

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