ReportWire

Tag: Opinion

  • Weekend reads: What to expect now for home prices, stocks and bonds

    Weekend reads: What to expect now for home prices, stocks and bonds

    This week Freddie Mac said the average interest rate on a 30-year mortgage loan in the U.S. had climbed to 6.70% from 6.29% the week before and 6.02% two weeks ago. The average rate a year ago was 3.01%.

    Would-be sellers who have low-rate mortgage loans are reluctant if it means they need to take out a new loan to fund their next home. Would-be buyers are forced out of the market, as the monthly principal and interest payment for a new 30-year loan, based on Freddie Mac’s figures, has increased 53% from a year ago.

    Home-sale contracts are being canceled at a record pace in some areas.

    But these factors could lead to a buyer’s market in 2023 if prices plunge. Here are the areas economists expect to see the largest home price declines.

    The strong dollar and the stock market

    Khaled Desouki/Agence France-Presse/Getty Images

    The dollar has strengthened as the Federal Reserve has taken the lead among central banks in raising interest rates. This is reverberating across the world, making it more costly for countries to make interest payments on dollar-denominated debt and increasing the cost of any commodity traded in dollars.

    The rising dollar lowers prices on imported goods for Americans and can also lower their international travel costs. But Michael Wilson, Morgan Stanley’s chief equity strategist, warns that earnings for the S&P 500
    SPX,
    -1.51%

    would decline as a direct result of the strong dollar and called the current foreign-exchange backdrop an “untenable situation” for the stock market.

    On the other hand: Companies are trying to blame weak earnings on the strong U.S. dollar, but that’s a lame excuse

    This is what happens when bearish sentiment runs high

    Michael Brush interviews David Baron, co-manager of the Baron Focused Growth Fund
    BFGFX,
    -0.76%
    ,
    who describes opportunities cropping up as institutional investors dump stocks. He also explains his winning long-term strategy, which has included a very long-term investment in Tesla Inc.
    TSLA,
    -1.10%
    .

    A a positive sign for the stock market: These 12 stocks have seen strong insider buying

    Time to buy bonds?

    When interest rates rise, bond prices fall. But it also means that if you have money to put to work, bond yields have become much more attractive.

    Khuram Chaudhry, a European equity quantitative strategist at JPMorgan in London, makes the case for buying bonds now.

    What about preferred stocks?

    Getty Images/iStockphoto

    Preferred stocks feature stated dividend yields and prices that move the same way bond prices do. That means prices for many issues are now heavily discounted to face value and that current yields are much higher than they were at the end of 2021. Here’s an in-depth guide on how to research preferred stocks and make your own selections.

    Related: 22 dividend stocks screened for quality and safety

    The problem with macro market projections

    Stanley Druckenmiller predicted a “hard landing” in 2023 for the U.S. economy while speaking at CNBC’s Delivering Alpha Investor Summit on Sept. 28.


    Bloomberg

    Stanley Druckenmiller predicted a U.S. recession in 2023 as a result of monetary policy tightening by the Federal Reserve. That may not be much of a stretch, considering that the U.S. economy contracted during the first half of 2022, according to revised GDP figures from the Bureau of Economic Analysis.

    But investors should be careful — macro forecasts often turn out to be incorrect, Mark Hulbert warns.

    More on stocks: It’s the worst September for stocks since 2008. What that means for October.

    Recessions and your retirement plans

    Getty Images

    Alessandra Malito has advice on how retirees and people planning for retirement can prepare for tough economic times.

    Also: Reset your retirement calculator now for today’s bleaker stock markets and make sure you’re still on track

    Investors tremble and a central bank scrambles

    The Bank of England’s headquarters.


    Agence France-Presse/Getty Images

    After the new U.K. government of Prime Minister Liz Truss announced a massive tax cut along with a new spending program to help counter rising fuel costs and new borrowing, the pound hit a new low against the dollar on Sept. 26 as investors and money managers panicked and sold-off U.K. government bonds. Steve Goldstein explains how and why the Bank of England came tot the rescue.

    A closer look at reverse mortgages

    Getty Images/iStockphoto

    Beth Pinsker digs deeply to explain how to use a reverse mortgage as a financial planning tool.

    Poking a little fun at Elon Musk

    Getty Images

    After Tesla CEO Elon Musk said the upcoming Cybertruck would be sufficiently waterproof to “serve briefly as a boat,” the San Francisco Bay Ferry offered this advice to patrons.

    Want more from MarketWatch? Sign up for this and other newsletters, and get the latest news, personal finance and investing advice.

    Source link

  • Climate Action Plans Could Help Address Injustice, Inequity in African Cities

    Climate Action Plans Could Help Address Injustice, Inequity in African Cities

    Gina Ziervogel
    • Opinion by Gina Ziervogel (cape town, south africa)
    • Inter Press Service

    In its summary for policymakers, the report states: “Inclusive governance that prioritizes equity and justice in adaptation planning and implementation leads to more effective and sustainable adaptation outcomes (high confidence).” This is a welcome, albeit long overdue development.

    The report offers widespread evidence in support of a focus on justice across different sectors and regions. It reflects rapidly mounting concern for climate justice — in both advocacy circles and in the public discourse — and a sharp increase in the volume of information on this topic.

    Arguments concerning climate justice include the need to address historical inequities, contest established power, and consider diverse perspectives and needs in planning and delivery. Only by confronting these issues directly can we deliver on the Sustainable Development Goals and climate goals.

    As outlined in the Africa chapter of the IPCC, Africa is highly vulnerable to climate risk. The continent features strongly in discussions on equity and justice, which argue for low carbon development without interfering with the economic growth.

    With their concentration of people and growth, African cities are particularly important places to focus climate action. They have been slow to develop adaptation and mitigation policies and practice, but there are ample lessons worldwide and within the continent from which to draw motivation.

    Organisations such as 350.org and Climate Justice Alliance, are fighting for equity and justice locally and internationally. We can glean approaches by studying and understanding these efforts, but we need to make them locally relevant.

    Across the globe, cities are rapidly integrating climate action in their plans to reduce emissions and the impacts of hazards, such as droughts, floods, fires and heatwaves.

    A few African cities have made progress by building justice and equity into climate response programs. Kampala is converting organic waste into briquettes for cooking. This provides an alternative livelihood strategy, reduces the number of trees cut for charcoal, and decreases the amount of waste going to landfill.

    In response to neighbourhood flood risk, residents in Nairobi have invested in reducing their exposure. In addition, they have mobilized youth groups to disseminate environmental information and engage in activities such as tree planting to stabilize riverbanks.

    Some local governments are ramping up their climate change management efforts. Yet, city government responses are often sector-specific and can’t succeed by themselves — the challenge is too massive and urgent.

    More projects and programmes are needed that use a collaborative or co-productive approach for meeting equity and justice goals. We must have innovative ways of bringing in different sectors and actors— to really hear their perspectives and explore potential solutions. Such an approach might require safe space for experimentation.

    In addition, we have to develop methods for scaling urban solutions that ensure adaptation responses meet the needs of the most at-risk groups across cities and institutionalize strategies in city planning and implementation.

    Epistemic justice

    Epistemic justice refers to the extent to which different people’s knowledge is recognized. Scientific evidence abounds that solving complex problems benefits from multiple types of knowledge bases. Yet city governments provide little opportunity to integrate diverse viewpoints.

    In the context of inequality, ensuring that the voices of marginalized and at-risk people are included is crucial for generating appropriate locally owned solutions.

    The FRACTAL project (Future Resilience for African Cities and Lands) engaged a trans-disciplinary group of researchers, officials and practitioners that worked across six cities in southern Africa between 2015 and 2021.

    FRACTAL exemplifies how city stakeholders and researchers can co-produce knowledge around climate impacts and potential adaptation responses in cities such as Lusaka, Maputo, and Windhoek.

    Although climate science was an important part of the project, the initial stages provided time and space for participants to share “burning questions” in their cities and collaboratively decide how to address these.

    Some cities developed climate risk narratives to guide future decisions. Others developed climate change planning documents and platforms that thought about adaptation projects through a holistic lens. Importantly, participants, built trust and capacity, for city actors to take this work forward collaboratively.

    When prioritizing adaptation actions at the city level, local governments have tended to use criteria based on their frameworks and data, providing just one perspective. However, more bottom-up data is required to meet the needs of those most at risk.

    Arguments concerning climate justice include the need to address historical inequities, contest established power, and consider diverse perspectives and needs in planning and delivery. Only by confronting these issues directly can we deliver on the Sustainable Development Goals and climate goals.

    Such data can better capture challenges that citizens face, such as accessing water during droughts or recovering from flooding that might have washed away homes and possessions.

    A recent project in Cape Town sought to do this. Local activists from low-income neighborhoods collected data on issues around water services and explored diverse ways, including film, comics and maps as ways to share this information with other residents and city officials.

    Collaborations between NGOs, researchers and local governments can strengthen the type of data available and contribute to more nuanced understanding.

    The National Slum Dwellers Federation of Uganda, for instance, collected local data that informed planning and the development of solutions to reduce climate risk with sustainable building materials and improving water and sanitation services. This work positioned them to negotiate effectively with local government to support further efforts.

    Across the globe, cities are rapidly integrating climate action in their plans to reduce emissions and the impacts of hazards, such as droughts, floods, fires, and heatwaves. They also are rapidly expanding opportunities to access climate funding.

    The time has come for African cities to determine how they will engage in the climate action and justice space to ensure they meet the serious challenges they are confronting.

    Gina Ziervogel is Associate Professor in the Department of Environmental and Geographical Science at the University of Cape Town.

    Source: Africa Renewal, United Nations, September 2022

    IPS UN Bureau


    Follow IPS News UN Bureau on Instagram

    © Inter Press Service (2022) — All Rights ReservedOriginal source: Inter Press Service

    Global Issues

    Source link

  • El American Raises $1.776M to Accelerate Growth

    El American Raises $1.776M to Accelerate Growth

    Press Release


    Dec 15, 2021

    El American Inc., the leading Hispanic conservative news platform that promotes free markets and America’s Founding Principles, announced today the close of its seed funding round of $1.776M.

    This equity financing raise done “by US Hispanics, for US Hispanics”, comes to accelerate growth as El American scales to meet strong demand for conservative news from the U.S. Hispanic market. A recent Wall Street Journal poll shows that 62 million Hispanics, the fastest-growing demographic in the U.S., are evenly divided between the Republican and the Democratic parties.

    “El American’s objective is to win the hearts and minds of Hispanics with a pro-freedom message in both English and Spanish,” said Jorge Granier, El American’s CEO, Publisher and co-founder. “With this funding, we will scale our podcast and video operations, launch our app and expand our social media footprint to reach even more Hispanics in the U.S. and around the world.”

    Founded in late 2020, after the contentious election season, El American has assembled a team of award-winning journalists, writers, and influencers, and has reached over 250 million interactions across its social media accounts during its first year of operation. Through its site elamerican.com and with an active presence on Twitter, Facebook, Instagram, YouTube, GETTR, and TikTok, El American reaches across the key 18-55 demographic within the Hispanic audience.

    “Given our team’s deep experience in media, having launched multiple cable networks and streaming platforms, we are excited to announce our plans to launch the first conservative news network focused exclusively on Hispanics in 2022,” added Carlos Penzini, co-founder and chairman of the board.

    El American is planning to go on to a Series A raise in 2022 to launch its streaming platform, cable channel and expand its content offering, to continue capitalizing on the growing Hispanic opportunity.

    ###

    For more information on El American, visit: 

    https://elamerican.com

    https://elamerican.com/aboutus/

    https://elamerican.com/we-are-el-american/

    ABOUT EL AMERICAN

    El American is the bilingual digital media platform focused on providing information, opinion, analysis and real journalism to the fastest growing audience in the United States: Hispanics. Founded by two Hispanics and proud American citizens, El American targets conservative and libertarian Hispanics across the U.S.

    Contact:

    press@elamerican.com

    Twitter: @ElAmerican_ 

    Instagram: @elamerican_

    TikTok: @elamerican_

    Facebook: @ElAmerican1

    ###

    Source: El American Inc.

    Source link