Warren Buffett is handling the coronavirus crisis like he mastered the Great Recession
People know the current crisis is more acute than any in living memory, including the 2008-09 financial crisis, and would welcome more clarity from the “Oracle of Omaha. We don’t have to wait long: On Saturday, May 2, Buffett will host the annual meeting of his company, Berkshire Hathaway (BRK) , (BRK) fielding questions from journalists and shareholders. Notably, Buffett’s longtime business partner, 96-year-old Charlie Munger Berkshire’s vice-chairman, will not be on the livestreamed call.
Wealthiest Americans raking in billions from coronavirus pandemic: report
As 30 million Americans have lost their jobs over the last six weeks amid the coronavirus pandemic, America’s billionaires are becoming even richer. According to a new report from the Institute for Policy Studies, a left-leaning think tank, over the past 6 weeks, American billionaires have seen their wealth increase by $406 billion — a boost of just under 14% to their net worth. An initial decline The global pandemic has impacted everyone’s pockets, regardless of income. As the markets have been roiled by the coronavirus and broad economic shutdown, hundreds of billionaires saw their […]
Trump Travels to Camp David After More Than a Month of Social Distancing at the White House
President Donald Trump is leaving the White House after a month of avoiding travel and social distancing, for the most part, in Washington, D.C. Trump, 73, on Friday traveled to Camp David, the unofficial “country residence” for sitting U.S. presidents, in Maryland. He last left the White House on March 28 when he traveled to Norfolk, Virginia, to send off the USNS Comfort naval ship to New York City in order to help house hospital patients, as the city’s hospitals threatened to overflow due to an influx of novel coronavirus patients. April must have […]
President Trump renews threat of tariffs on Chinese goods
President Trump brought back a familiar threat this week: tariffs on Chinese imports. The president floated the idea of using tariffs to punish the Chinese government for its handling of the coronavirus crisis during an event at the White House on Thursday. The Washington Post reported the administration was exploring retaliatory options, including canceling some of the United States’ debt obligations to China. Economic officials quickly denied that plan and when asked about it, Trump offered tariffs as an alternative. “When you start playing that game, you’re really hurting the sanctity — the importance […]