Thunder From Under http://thunderfromunder.com/ Tue, 07 Jun 2022 23:51:03 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://thunderfromunder.com/wp-content/uploads/2021/04/thunder-from-under-icon.png Thunder From Under http://thunderfromunder.com/ 32 32 Two WA men jailed for cocaine trafficking https://thunderfromunder.com/two-wa-men-jailed-for-cocaine-trafficking/ Tue, 07 Jun 2022 21:41:00 +0000 https://thunderfromunder.com/two-wa-men-jailed-for-cocaine-trafficking/

This is a joint publication between the Australian Federal Police and the Australian Border Force.

Editor’s note: Photos of the arrest available here

Perth District Court has jailed two men who were arrested by AFP as they tried to access a supply of cocaine they expected to find in a package sent from Europe.

The Perth men, now aged 24 and 41, were sentenced last week (3 June 2022) after being found guilty by a jury following a trial in January (2022) for their role in the import of four kilograms of cocaine sent to Western Australia inside a wooden reel of electrical cable in November 2018.

AFP launched an investigation after Australian Border Force (ABF) officers from Perth Air Cargo Operations examined the package containing the wooden spools. They removed the ends of a coil and found a sealed hollow with four wrapped bundles inside.

The packages contained a white powder presumed positive for cocaine.

The case was forwarded to AFP, where forensic experts established that the packages contained around four kilograms of cocaine.

The cocaine was removed and replaced with a harmless substance before being delivered to the address of a cafe in the western suburbs.

Later that afternoon, the young man picked up the package from the cafe and then drove in a convoy with the 41-year-old to a house in Balcatta where the couple opened the package.

Shortly after breaking the wooden spool and removing the wrapped bundles, AFP officers entered the property and arrested the men.

Police found the surrogate powder packages along with several items consistent with the border controlled drug supply, including a set of scales, boxes of clip-on bags, a large tray containing white powder residue and two containers containing a substance often mixed with drugs to increase the volume of distribution.

AFP chief agent Dan Arthurs said there was a misperception among some people that cocaine was a safe drug and that its use did not harm others.

“These drugs are supplied by international organized crime syndicates who are prepared to murder people to protect their market share and drug addicts in Australia fund these groups,” he said.

“Cacao leaf cultivation, which is used to make cocaine, has been linked to deforestation in the Amazon and chemicals and pesticides are used to protect the crops.

“AFP and our partners are working hard to prevent illicit drugs from reaching our communities and disrupting anyone involved in the supply chain.”

ABF Superintendent Clinton Sims said the intercept was just another example of the ABF using a range of technologies to identify concealments in air cargo shipments entering Australia.

“Our officers are highly skilled in detecting anomalies and inconsistencies in order to find cover-ups, which in this case was cocaine hidden in a wooden reel of electrical cable,” he said.

The men were found guilty of one count each of attempting to possess a commercial quantity of border-controlled drugs, contrary to section 307.5 of the Penal Code 1995 (Cth).

The 24-year-old was sentenced to four years and three months in prison before being eligible for parole.

The 41-year-old must serve five years and three months before being eligible for parole.

Media inquiries:

National media AFP: (02) 5126 9297

ABF Media: (02) 6264 2211

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Mississippi Election: 4 Congressional Seats on Primary Ballots https://thunderfromunder.com/mississippi-election-4-congressional-seats-on-primary-ballots/ Tue, 07 Jun 2022 06:34:51 +0000 https://thunderfromunder.com/mississippi-election-4-congressional-seats-on-primary-ballots/

U.S. Representative Michael Guest, R-Miss., pictured during a press conference at the Mississippi Capitol in Jackson, May 4, 2022, faces off against two opponents in the party's 2022 third congressional district primary on June 7 .  (AP Photo/Rogelio V. Solis)

U.S. Representative Michael Guest, R-Miss., pictured during a press conference at the Mississippi Capitol in Jackson, May 4, 2022, faces off against two opponents in the party’s 2022 third congressional district primary on June 7 . (AP Photo/Rogelio V. Solis)

PA

Mississippi holds party primaries for its four U.S. House seats on Tuesday, with three Republicans and one Democrat seeking re-election. Polling stations are open from 7 a.m. to 7 p.m. If ballots are needed, they will be on June 28.

1ST DISTRICT

Republican Representative Trent Kelly won a special election in 2015 in northern Mississippi’s 1st congressional district after serving as district attorney for several northern Mississippi counties. He is backed by former President Donald Trump.

Kelly is being challenged in the Republican primary by Mark D. Strauss, who has a picket fence near his home painted with slogans such as “Trump Won” and “COVID testing is poison.”

The 1st District Democratic primary is between two candidates for the first time. Hunter Avery says he supports Medicare for All and Dianne Black says she wants to expand access to health care and fight climate change.

2ND DISTRICT

Mississippi’s only Democrat in Washington, U.S. Representative Bennie Thompson, is chairman of the House Homeland Security Committee and co-chair of a committee investigating the Jan. 6, 2021, attack on the U.S. Capitol. Thompson has been in Congress since winning the 1993 special election. The 2nd District now encompasses most of western Mississippi and much of the Jackson metropolitan area.

Thompson faces a Democratic lead opponent, Jerry Kerner, who calls Thompson “a gullible follower of the House’s anti-American leadership.”

The 2nd District Republican primary candidates are Michael Carson, a diesel mechanic who cites former President Ronald Reagan as a role model; Ronald Eller, a retired army captain who campaigns on free enterprise and limited government; Brian Flowers, a military veteran who lost to Thompson in 2020 and now says Thompson is “trying to bully American patriots” into investigating January 6, 2021 activities; and Stanford Johnson, a truck driver who advocates term limits in Congress.

3RD DISTRICT

U.S. Representative Michael Guest was first elected in 2018 from central Mississippi’s 3rd congressional district, after serving as district attorney in Rankin and Madison counties. He campaigned in support of border security and gun rights.

Guest is challenged by Michael Cassidy, a former Navy pilot who blames Guest for being in the minority of Republicans who voted to create a committee to investigate the January 6, 2021 attack on the US Capitol ; and Thomas B. Griffin, a business owner who says he wants to put Christian values ​​in schools.

No Democratic primary is held because Shuwaski A. Young was unopposed for the nomination. It will be on the general election ballot.

4TH DISTRICT

Republican U.S. Representative Steven Palazzo is a military veteran who ousted a longtime Democratic congressman in 2010 in southern Mississippi’s 4th district. Now he faces his biggest field of challengers, along with six other GOP primary candidates.

A 2021 report from the Congressional Ethics Office found “substantial reason to believe” that Palazzo abused his office by spending campaign funds, doing favors for his brother and enlisting staff for errands. political and personal. Palazzo declined to fully participate in the investigation, but her spokeswoman at the time, Colleen Kennedy, said it was based on “false allegations” made by an opponent in a previous primary.

Palazzo’s opponents for the Republican nomination are Carl Boyanton, a former farm products company owner who lost to Palazzo in the 2020 GOP primary and filed the complaint that sparked the ethics investigation into the member of the Congress; Raymond N. Brooks, who served as a Gulfport police officer and says he wants to strengthen border security; Jackson County Sheriff Mike Ezell, who also campaigns on border security; Kidron Peterson, a machinist who says he wants to bring manufacturing jobs back to the United States; Clay Wagner, a retired banker who says he wants to limit taxation and regulation; and State Senator Brice Wiggins, who campaigns on border security and has worked to expand access to early childhood education programs.

Two candidates are seeking the Democratic nomination. Johnny L. DuPree is a former mayor of Hattiesburg and was the Democratic candidate for governor in 2011. David Sellers is a cabinet minister who says he wants to raise the minimum wage and end mass incarceration.

A Libertarian candidate, Alden Patrick Young, will be on the ballot for the 4th District in November.

]]> It takes courage to fight food inflation https://thunderfromunder.com/it-takes-courage-to-fight-food-inflation/ Mon, 06 Jun 2022 22:58:59 +0000 https://thunderfromunder.com/it-takes-courage-to-fight-food-inflation/

INFLATION is hitting food prices hard. Many consumers noticed that their grocery bill was slowly increasing; and employees paying more for their meals.

The consumer price index for “out-of-home food” and “in-home food” increased, ranging from vegetables, cereals and meat to other animal proteins.

Rising food inflation has taken away the disposable income of low- and middle-income households for non-discretionary spending.

Put simply, the following factors explain the spike in consumer food inflation; and have fueled the global food crisis, particularly in emerging economies and low-income countries that have experienced foreign exchange shortages and are more vulnerable to food price shocks.

> Food price inflation rose years before the pandemic due to both demand and supply. Demand was sustained by better economic growth, rising purchasing power and demographic pressure.

Food production has been limited by uneven agricultural production, climate change (poor harvest), rising production costs, disease, quality and variable yields.

> The prolonged crisis of the Covid-19 pandemic has imposed sporadic containment and movement restriction measures as well as supply disruptions which have caused a spike in consumer food prices.

After the economy reopened, the release of pent-up demand and the recovery in demand exceeded the capacity of supply chains, pushing prices higher.

Soaring costs

> Business costs and raw materials used in food production and processing have also increased, as evidenced by global food producer prices in 2020-2021, which have soared and will impact consumer prices. consumption with a lag of at least six months or less if producers could not absorb higher costs.

From the end of 2019 to the end of April 2022, the World Bank’s food price index increased by 54%; chicken meat up 83.4%; corn increased by 108.5% and soybeans by 88.1%.

> The pandemic has led to increased shipping and transportation costs as well as delivery services. Higher shipping costs have hit the inflationary cost of imported food, apart from the cost of obtaining and delivering goods to customers.

> The war in Ukraine has caused further disruptions in supply and this has pushed up the prices of raw materials such as corn and wheat; energy, industrial materials, fertilizers and animal feed.

Rising wheat prices will translate into higher food prices, while more expensive feed and fertilizers have increased the cost of food production.

> Since most food is traded in US dollars, countries with weaker currencies have seen their food import bills increase.

Intervention

Rising prices have prompted some countries to implement short-term interventions and administrative measures such as granting subsidies, setting price controls and a price cap, relaxing approved authorizations , reduction of import tariffs and export restrictions to maintain or improve domestic supply and curb food price inflation. .

Unfortunately, adverse global developments have larger forces influencing agricultural market prices, making stopgap measures to tackle food inflation limited success.

The integration of Malaysia’s domestic market into the world market means that our domestic producers and consumers will have to deal with the global influences of food supply and demand and the resulting impact on food prices. food.

Malaysia’s reliance on imports of agricultural products to meet domestic demand fell from 7.3% to 13.7% over 28 years (1987-2015).

In 2020, eight items recorded an import dependency rate above 50% – cuttlefish (52.2%), fresh milk (53.5%), round cabbage (63.6%), chilli (72.4% ), beef (78.1%), ginger (81.5%), mango (86.2%) and mutton (90.4%).

In 2020, the self-sufficiency ratio was 63.0 for rice; 65.0 for fresh milk, 75.6 for sweet potato, 88.2 for mackerel, 80.7 for sardines, 94.9 for pork, 98.1 for poultry and 115.1 for eggs .

Food security, affordability and stability remain a national priority. There are no simple solutions but complex tasks to fight against food inflation and food security. Government and the private sector must work together to ensure a sustainable food supply.

Some of the short-term measures (subsidies and price cap controls on food products for consumers and producers, including fertilisers, and a ban on the export of chicken) come with opportunity costs and poor resource assessment.

> Government subsidies and the ceiling price to make food affordable will further increase the budget deficit and, if it becomes unsustainable, will pose significant political risks for the country’s creditworthiness.

Therefore, food subsidies should be targeted to vulnerable households through food stamps/vouchers or cash assistance. Savings from targeted subsidies can be reallocated to the implementation of food production programs.

Worst shortage

> Price caps and controls cannot address scarcity. Setting prices at artificially low levels will only reinforce existing demand patterns, making shortages worse for many consumers down the line.

> For producers, if price subsidy and caps are set at levels below cost to producers, this will result in loss of economies of scale for producers, and reduced supply for consumers who would be prepared to pay more than the ceiling price.

In the current supply situation, which is severely constrained by sharp increases in commodity prices due to the disruption of international supply chains, it is unclear how price controls would incentivize suppliers and producers to increase production.

> Prices are the signals on which the market economy relies for supply and demand responses. The influences of global market development have resulted in supply pressures and increased costs. Limiting price increases for a longer period will not help consumers or alleviate shortages.

To ensure the sustainability of the agricultural sector and food security, we propose the following action plans in the short and medium term:

> Stop intervention in the market. Government regulatory interventions, while well-intentioned, are often counterproductive. They distort the functioning of the market and the allocation of resources and discourage agricultural production.

The main objective of the government is to create competition (not protection) in each segment of the food supply chains (producer, supply, storage and food distribution system) in order to reduce costs, curb research cash flow and plug leaks in the food management system. .

Smart farming

> Encourage technology diffusion and smart agriculture. Government and the private sector must accelerate the uptake of technologies in food and agriculture regarding environmental sustainability, climate change, crop yields and mechanization.

This will reduce reliance on expensive inputs, labor, fertilizers and pesticides and boost food production.

> Increase arable land for agriculture. Only 5.5% of the total planted area (nearly 450,000 ha) was allocated to fruits, vegetables, herbs, species and other crops.

On average, less than 200,000 ha occupied by fruit crops and less than 100,000 ha for market gardening and cash crops in 2016-2020. This compares to 5.9 million hectares for oil palms and 1.1 million for rubber trees.

> Strengthen all links in the food supply chain, from producers to consumers (growers/harvesters, agri-food industry and the wholesale and retail food distribution sector).

Establishing a more resilient food supply chain and management system with more collection, processing, transportation and storage capacity in different geographies of the country will provide market options more and better for consumers and producers.

> Provide real-time market information. Invest in a market information system to provide reliable and timely data on food production, demand and supply, trade and prices.

This will send the right price signals from producers to consumers; to strengthen the supply chain, stabilize prices, reduce business risks and increase response time.

Lee Heng Guie is executive director of the Center for Socio-Economic Research. The opinions expressed here are those of the author.

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Biden to waive tariffs for 24 months on solar panels hit by probe – Reuters https://thunderfromunder.com/biden-to-waive-tariffs-for-24-months-on-solar-panels-hit-by-probe-reuters/ Mon, 06 Jun 2022 05:02:01 +0000 https://thunderfromunder.com/biden-to-waive-tariffs-for-24-months-on-solar-panels-hit-by-probe-reuters/

WASHINGTON (Reuters) – President Joe Biden will on Monday declare a 24-month tariff exemption for solar panels from four Southeast Asian countries after an investigation froze imports and stalled projects in the United States, reports said. sources familiar with the matter told Reuters.

The move comes amid concerns about the impact of the Commerce Department’s months-long investigation into whether solar panel imports from Cambodia, Malaysia, Thailand and Vietnam are circumventing duties. customs on products made in China.

Biden’s action would ease corporate concerns about needing to hold billions of dollars in reserves to pay potential tariffs, a source familiar with the White House plans said. “There is going to be this waiting period for the collection of rights, and that is at the heart of what is going to save all these solar projects and ensure that they go ahead,” the source said.

Biden will also invoke the Defense Production Act to boost U.S. manufacturing of solar panels and other clean energy technologies in the future, with the support of loans and grants, the sources said. State governors, lawmakers, industry officials and environmentalists have expressed concern over the investigation, which could have led to retroactive tariffs of up to 250%.

The issue has created a unique dilemma for the White House, which is keen to show American leadership on climate change, in part by encouraging the use of renewable energy, while respecting and keeping its distance from investigative procedures. .

Using executive action and invoking the DPA, which gives presidents some authority over national industries, allows Biden to take advantage of the tools at his disposal without intervening in the Commerce Department’s investigation.

A second source said Biden’s proclamation, relying on the authority of a 1930 trade law, would only apply to the four countries and would run parallel to the investigation. Depending on its outcome, customs duties could be levied on panels imported after the 24-month period, but the threat of retroactive payments would be removed, the source added.

“If you bring things in during that 24-month period, regardless of the outcome of the investigation, there will be no such additional rights,” the second source said.

The investigation essentially halted the flow of solar panels which account for more than half of US supplies and 80% of imports. It has had a chilling effect on the industry, according to clean energy groups, some of which have called on Commerce Secretary Gina Raimondo to reject it.

Raimondo said she had no discretion to influence him.

“The president’s action is a much-needed reprieve from this industry-crushing probe,” Abigail Ross Hopper, president of the Solar Energy Industries Association, said in a statement.

“During the two-year tariff suspension window, the U.S. solar industry can resume rapid deployment while the Defense Production Act helps expand U.S. solar manufacturing.” Announced at the end of March, the investigation could take 150 days or more.

Biden has previously invoked the DPA to address an infant formula shortage in the United States, increase domestic production of key minerals for electric vehicle batteries, and combat the COVID-19 pandemic through testing and production. of vaccines.

Biden tells critic Musk ‘very lucky’ on Moon

“It’s a tool to do what we desperately need to do, which is to rapidly increase domestic ‘solar panel’ manufacturing capacity,” the second source familiar with the matter said.

The administration was “very focused on ensuring reliable and resilient supply chains at this critical time for our energy sector, for our ability to support our consumers and address the climate crisis,” he said. -he adds. Increasing renewable energy such as solar power is crucial to Biden’s goal of reducing U.S. greenhouse gas emissions by 50% to 52% by 2030, compared to levels of 2005, as well as decarbonizing the U.S. electric grid by 2035. The Commerce Department investigation prompted 19 state governors, 22 U.S. senators, and dozens of members of the House of Representatives to express concern in letters to Biden .

“The initiation of this investigation is already causing massive disruption to the solar industry, and it will seriously harm American solar companies and workers and increase costs for American families as long as it continues,” a signed letter said. by senators, including Martin Heinrich, a Democrat. from New Mexico and Thom Tillis, a Republican from North Carolina.

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Foreign cigarettes smuggled from Myanmar seized in Mizoram https://thunderfromunder.com/foreign-cigarettes-smuggled-from-myanmar-seized-in-mizoram/ Sun, 05 Jun 2022 17:25:21 +0000 https://thunderfromunder.com/foreign-cigarettes-smuggled-from-myanmar-seized-in-mizoram/

Aizawl: Assam Rifles soldiers seized cigarettes of foreign origin, valued at around 2.35 crore rupees in Mizoram after they were smuggled from Myanmar, officials said on Sunday.

An Assam Rifles official said that following a whistleblower, its staff seized the cigarettes of foreign origin, contained in 78,333 boxes, in Khuangphah, Champhai district, eastern Mizoram , Saturday night.

“Cigarettes of foreign origin after being smuggled from neighboring Myanmar were stored in a house. None were arrested in this connection,” the official said.

Later, the seized cigarettes were handed over to customs officials for further legal action.

A statement from Assam Rifles said: “The continued smuggling of cigarettes of foreign origin is a major cause of concern for Mizoram State, particularly along the India-Myanmar border. The Assam Rifles, aptly dubbed the “Sentinels of the North East”, continued their efforts against smuggling activities in Mizoram.

Besides various harmful drugs, especially heroin, highly addictive methamphetamine tablets, also known as “Yaba”, poppy seeds, opium, ganja (marijuana), morphine, bottles of cough syrup valued at hundreds of crores, various other contraband like gold, foreign cigarettes as well as weapons and ammunition are often smuggled from Myanmar to northeastern states especially Mizoram and Manipur, along their more than 1,600 kn long unfenced border.

(IANS)

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Trump loses to DeSantis in 2024 Straw poll at top conservative — again https://thunderfromunder.com/trump-loses-to-desantis-in-2024-straw-poll-at-top-conservative-again/ Sun, 05 Jun 2022 11:58:18 +0000 https://thunderfromunder.com/trump-loses-to-desantis-in-2024-straw-poll-at-top-conservative-again/

Florida Governor Ron DeSantis was chosen for a second year over former President Donald Trump to be the Republican Party’s 2024 presidential nominee at an annual Conservative conference.

The Western Conservative Summit has been held in Colorado since 2010. The event is hosted by the Centennial Institute at Colorado Christian University, located in Lakewood, just west of Denver. Summit organizers are conducting a poll at the event to gauge attendees’ preferences on who should be the next presidential candidate.

This year, DeSantis was the frontrunner, with support from 71.01% of respondents. Trump came in just behind in second place with 67.68% support. Senator Ted Cruz of Texas was in third place (28.73%) and Ben Carson, who served as Trump’s Secretary of Housing and Urban Development, came in fourth (24.15%).

Since voters were allowed to make more than one choice, through the approval voting method, the poll percentages added up to more than 100%. Returning officer Frank Attwood told Colorado Politics last year that the decision to use the approval voting method “minimizes spoilers and sabotage and gives underage candidates viability and visibility.”

Straw poll results from the 2022 summit were similar to 2021, although support for Trump and DeSantis fell slightly. Last year, DeSantis narrowly won the straw poll at the Conservative conference, beating Trump for the top spot. The Florida governor led the poll with 74% of voters saying they approved of him as a presidential candidate, just ahead of the former president’s 71% support.

Florida Governor Ron DeSantis beat former President Donald Trump in a 2024 presidential poll at the Conservative West Summit this weekend. Top left, Trump speaks at a May 28 rally in Casper, Wyoming. Top right, DeSantis speaks during a press conference at the University of Miami on May 17 in Miami, Florida.
Strange Chet/Joe Raedle/Getty Images

The Centennial Institute states on its website that it aims to “impact our culture in favor of traditional family values, sanctity of life, compassion for the poor, biblical view of nature human rights, limited government, personal liberty, free markets, natural law, the intent of the Constitution, and Western civilization.” Additionally, the institute says its goal is “to be truth seekers and debunk ‘spent ideas’ and those who traffic in them.”

A mock Wisconsin poll of GOP activists in May also put DeSantis ahead of Trump. Of those 325 Republicans in the Midwestern state, the Florida governor garnered 38% support, compared to just 32% who backed Trump. Former South Carolina Governor Nikki Haley, who served as Trump’s ambassador to the United Nations, came third, with 7%.

Recent national Republican polls have generally shown Trump to be the clear frontrunner for the party’s 2024 presidential nomination if he chooses to run. DeSantis is often in second place.

A February poll by Rasmussen Reports found nearly half (47%) of likely GOP voters would support Trump for the party’s nomination in the upcoming presidential election. DeSantis came in second, although he trailed Trump with just 20%. Notably, prominent Trump critic, GOP Rep. Liz Cheney of Wyoming, came in third with 7%.

However, a May survey by the Harvard CAPS-Harris Poll found significantly lower enthusiasm for Trump. In that poll, just 30% of those polled said they would support Trump in a hypothetical GOP primary race in 2024. Meanwhile, DeSantis still trailed Trump by double digits at 8%. Former Vice President Mike Pence came in third with 7%.

Update 6/5/22, 8:48 AM ET: This article has been updated with information on a recent Wisconsin straw poll of Republicans.

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Want to get rich? Top things to avoid when making portfolio decisions https://thunderfromunder.com/want-to-get-rich-top-things-to-avoid-when-making-portfolio-decisions/ Sun, 05 Jun 2022 05:21:04 +0000 https://thunderfromunder.com/want-to-get-rich-top-things-to-avoid-when-making-portfolio-decisions/

While libraries around the world are full of topics that tell investors what to do when making portfolio decisions – I think “what not to do” is just as important – because it It’s your “No” call that ultimately defines your journey as an investor. This is often the difference between a peaceful investment journey and one marked by difficult times.

Most new investors had a good ride until about 6 months ago – that is when the “tide of cash” started to dry up, there are signs of fatigue coming on. infiltrate. The good news that brought them to the markets was the revival of the economy after the challenge posed by COVID. Today’s news, however, is replete with global inflation fears, with the United States and the Eurozone hitting inflation numbers not seen in the past 30 years. Added to this we have the war in Ukraine which is further stifling energy supplies. Wheat and commodities like palladium etc and Chinese lockdown further aggravating the strangled supply line situation.

The above set of news is sure to rattle any seasoned investor, but the question is, should this get them moving on their portfolios?

In a study done in the United States in 1984 by Fidelity Investments on top performing client accounts, what they found was very interesting and hilarious. The best performing accounts were those where investors forgot they had those accounts. I’m sure if the same study were done today, the results wouldn’t be much different.

Much of the above stems from a few behavioral aspects of most investors, which I will ask under a few questions:

Sophistry of the question – Market ka kya lagta hai? Investors are too focused on market levels. They forget that markets are actually made up of companies. There has been a lot of volatility, crises, wars, and they will be there in the future too. Always in the long term, markets will go up because companies, good ones, tend to improve over time. If one were to look at the Sensex from 1979 at 100 points (Sensex was officially launched in 1986 with the base value of 100 from 1979), today the Sensex itself has increased by approx. . 600 times. And I can assure you that no one has gone full circle. Yes, we have had and will have volatility in between – sometimes, which is excruciatingly painful, but if all of these investors were to view these corrections as opportunities to increase investments, rather than exit the markets, the return of investors would be much higher – this is where investor behavior comes in. Over time, most fund managers can manage the volatility of investments, but it’s investor behavior that is losing return on investment to the investor.

Avoid trying to time the markets: Invest every month. With interest rates rising we are all in uncharted territory, this may be a difficult time that many new investors will face. The only message is “Don’t try to time the market” – nobody can. As Peter Lynch so aptly put it: “More money has been lost trying to time the markets than due to market corrections”. It’s a good tenant we see in the mutual fund space – Over the past 4-5 years, whether it’s a lack of other avenues or because of investor education, the sustained push on SIPs has created a prize pool of Rs 12,000 crore per month. The main message here is – Stay the course. Build a portfolio for the long term.

Don’t listen to social media or any opinion floating freely on Twitter or any other social media. If it’s floating there, there’s someone expressing their opinion who may not have your appetite for risk or worse maybe they’re “not qualified” to give an opinion . Communicate with your portfolio managers and advisors.

Invest, don’t speculate: Ignore the urge to act on your wallets. Oftentimes, investors are looking to see the action on the portfolios – the action is sometimes confused with the work that has been done by the advisor on the portfolio. The same goes for the very companies in your portfolio. The longer you own businesses, the better most businesses will fare over time.

Don’t put all your eggs in one basket: Diversification across asset classes will help normalize your returns – It is very important to diversify into asset classes that have little correlation. If all your asset classes are doing well or badly at the same time, your portfolio is not diversified. Everyone says they have diversified but very few do. Many investors think of diversification in the same way as bonds and stocks, forgetting about precious metals.

Few other important things on the TO DO LIST of investors –

* Greed and fear: The easiest thing to mention is another of Buffet’s quotes. “Sell out of greed and buy when there is blood”. But this is the most difficult to implement. This is where the maximum losses occur when people try to time the markets. For instance. – What is the definition of a stock that is down 90%? A stock that attracts investors when it is down 80% and then falls another 50% from your purchase price. These types of potential challenges can only be overcome by investing regularly.

* Practice delayed gratification: By practicing delayed gratification, you will have more money at your disposal that you can use to invest. Teach your children about delayed gratification at an early stage. Studies suggest that time spent in the markets determines your returns. The more time you spend, the greater your returns.

* Index investing is a very good tool: Don’t underestimate the power of low-cost index investing. A wiser thing to do is to invest in a low cost index fund if you are not able to beat the index.

* Safety margin: Always look for the best value for money. Whether it’s shopping at discount prices for your clothes, buying a house and the same goes for stocks. This has proven true throughout history and will continue to do so in the future. Unless you buy something worth Rs 100 to Rs 30, you will not earn money.

* When investing, what should your goal be? Although the goals of individual investors differ, but for a long-term investor, the future income from your assets (dividends) should exceed your monthly household expenses. It will surely take time. Be frugal in your spending and invest wisely and regularly. All the smartest investors have done it.

* The most important point: discipline. Discipline is the key to your investment success. Avoid leverage. Think long term. Buffett is 93 years old, and he always thinks long term, none of us have the right to think short term as an investor.

* Lately – Building wealth is a long-term process – the more patient you are, the more joyful and stress-free it will be.

(By Siddhartha Bhaiya, Director and Fund Manager at Aequitas Investment Consultancy Private Limited)

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Areca Nuts: Foundation To Pm: Curbing Areca Smuggling | Mangaluru News https://thunderfromunder.com/areca-nuts-foundation-to-pm-curbing-areca-smuggling-mangaluru-news/ Sat, 04 Jun 2022 02:45:00 +0000 https://thunderfromunder.com/areca-nuts-foundation-to-pm-curbing-areca-smuggling-mangaluru-news/ Mangaluru: The Chairman of the Areca Nut Research and Development Foundation (ARDF), Dr Veerendra Heggade, has urged Prime Minister Narendra Modi to request ministries to take strict action against the smuggling of areca.
Heggade’s appeal to Modi came in a press release on Thursday. He explained how the illegal smuggling of areca nuts from outside the country affects prices and farmers.
India produces 15.63 lakh tonnes of areca nuts every year and is the backbone of nearly 16 million people in the country, Heggade wrote. Smuggling destabilizes the price of locally grown areca nut and is said to affect the livelihoods and financial situation of thousands of farmers.
“Although India is self-sufficient in areca nuts, around 24,000 tonnes of areca are legally imported every year. Recently, the Minister of State for Finance, Pankaj Chaudhary, said that smuggling of areca nuts still exists. He also said that the amount of areca nut traded outside the fiscal network is not available and that the Areca Nut and Spice Development Directorate under the Ministry of Agriculture and Welfare of farmers reported that around 15% of areca nut is marketed by cooperatives such as CAMPCO Limited of Mangaluru. , TSS in Sirsi, MAMCOS, Shivamogga and TUMOCS in Chennagiri, etc. while 85% of the areca nut is traded by private traders,” Heggade said.
The illegal activity of smugglers will negatively impact the revenue generated in the form of GST on areca nut, he said and urged the Prime Minister to take strict action against this illegal import of areca and its transport without proper legal documents.
In order to combat the under-invoicing of areca nut, a competent nodal agency of the cooperative sector familiar with both white and red areca nuts, such as CAMPCO or ARDF, can be identified to assess and make reports on these goods. “As a grower of areca nuts, I urge the prime minister to direct ministries to take strong action on these issues so that areca growers as well as the country as a whole benefit,” he said. -he declares. ]]>
California offshore fracking suspended for further environmental study https://thunderfromunder.com/california-offshore-fracking-suspended-for-further-environmental-study/ Fri, 03 Jun 2022 18:56:36 +0000 https://thunderfromunder.com/california-offshore-fracking-suspended-for-further-environmental-study/

Federal agencies cannot approve permits for offshore well stimulation treatments near California until they complete a more thorough environmental review, the Ninth Circuit said Friday in a setback for Exxon Mobile Corp. and DCOR LLC.

According to the United States Court of Appeals for the Ninth Circuit, offshore well stimulation treatments can harm endangered or threatened species and affect “unique geographic areas” of the Pacific outer continental shelf. The effects of the treatments are also “highly uncertain and involve unknown risks”, the court said.

An environmental impact statement was warranted under the National Environmental Policy Act, according to the ruling, not a limited environmental assessment the agencies completed that did not fully investigate the effects of fracking on the environment. .

The decision was a victory for environmental groups who have learned through Freedom of Information Act requests that US Department of the Interior agencies approved permits for offshore fracking without preparing EIS. A judge previously ruled partly in favor of the government, saying the agencies’ review had been approved under NEPA.

The government assumed in its environmental assessment that well stimulation treatments would be so infrequent that the environmental damage would be “insignificant”. But evidence shows the agencies don’t know the actual number of treatments that have taken place in the past because data collection was incomplete, the appeals court said.

This “overreliance on the asserted low use of well stimulation treatments has skewed agencies’ consideration of the significance and severity of potential impacts,” the court said.

The federal government also found that compliance with a permit issued by the Environmental Protection Agency under the Clean Water Act would render the effects of the treatment insignificant.

But the EPA-issued permit that the agencies cited here did not specifically address the impact of the treatments at issue, nor was it intended to be used for them, according to the ruling.

The agencies did not consider a full range of alternatives, including California’s suggestions to ban treatments in certain areas or at certain times of the year, the court said. It also did not consider limiting the number of treatments each year, according to the decision.

Exxon Mobile and DCOR challenged the lower court’s decision to block the agencies from approving permits until they have consulted with the US Fish and Wildlife Service and completed a consistency review with California. Instead of siding with the companies, the appeals court found the injunction to be too narrow.

Judge Ronald M. Gould wrote the opinion. He was joined by Justices J. Clifford Wallace and Carlos T. Bea.

Kristen Monsell, legal director of the oceans program at the Center for Biological Diversity, said Friday the court’s decision was an “incredible victory for California’s coast and marine life.”

“This decision will prevent more toxic chemicals from poisoning fish, sea otters and other marine life,” Monsell said. “And that brings us closer to ending offshore drilling once and for all.”

Environmental Defense Center represented itself and the Santa Barbara Channelkeeper. The Center for Biological Diversity represented itself and the Wishtoyo Foundation. The California attorney general’s office represented the state, which also joined as a plaintiff.

The Department of Justice represented the federal government.

The case is Envtl. Def. CT. vs. Bureau of Ocean Energy Mgmt., 9th Cir., No. 19-55526, 6/3/22.

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Pent-up demand insulates tourism industry from soaring gas prices | United States and world https://thunderfromunder.com/pent-up-demand-insulates-tourism-industry-from-soaring-gas-prices-united-states-and-world/ Fri, 03 Jun 2022 11:00:00 +0000 https://thunderfromunder.com/pent-up-demand-insulates-tourism-industry-from-soaring-gas-prices-united-states-and-world/

Ait’s the pandemic fades in the rearview mirror, tourists are deployed across the country to travel despite record gasoline prices and higher costs in all areas.

Gasoline prices hit a new high on Thursday, climbing to a national average of $4.72 per gallon. That’s up more than 52 cents last month alone and about $1.67 more than the same time last year. These prices are reflected in high airfare prices and make travel even more unaffordable when combined with higher prices. inflation at all levels.

While these prices would typically lead to lower demand for summer travel, this year appears to be different due to pent-up travel demand caused by two years of pandemic-related restrictions and difficulties planning trips.

Some 70% of people plan to travel as much or more this year than last, even though consumer prices have risen 8.3% over the past 12 months and petrol prices have climbed in arrow, according to a investigation by AAA.

MARRIAGE BOOM SUFFERS SOME OF THE WORST OF INFLATION AND THE SUPPLY CHAIN

Jase Ramsey, an associate professor in the Department of Management at Florida Gulf Coast University, said despite soaring gas prices and soaring airfares, demand for travel and tourism this summer is expected to be strong. .

“People want to travel so badly that they absorb the cost of it in a way that I find somewhat shocking,” Ramsey told the Washington Examiner. “Right now, after COVID and two years at home…people are ready to go out again.”

Ramsey said companies aren’t as concerned about passing on higher costs to consumers due to the level of demand.

Angela and Mikel Welling own and operate Off-Road Adventure in Appalachia in Gore, Virginia. Their company offers tourists off-road 4×4 Jeep tours. The couple actually started the business during the pandemic, and the two have seen it flourish ever since, especially this year as COVID-19 wanes.

Angela Welling told the Washington Examiner that as the weather gets warmer and summer is in full swing, his business is seeing increased interest and bookings.

She suggested that some of the traffic to her business might actually be the result of higher gas prices. She said many of her clients come from surrounding states and may have decided to take a jeep tour so they can still have a unique vacation experience without wasting huge amounts of money on tickets. plane to distant places.

She said that even though gas prices are high and affecting the cost of a visit, customers seem to want to venture out and enjoy their first summer which has largely returned to normal since the pandemic began there. over two years ago.

“We’ve had a lot more calls and bookings so far this year,” she added.

Angela Welling said she and her husband were a little nervous if petrol prices continued to rise, as it would mean they would have to raise their prices a bit more to offset the higher costs. She said, however, that if she and her husband were to raise prices a bit more, it shouldn’t have too much of an effect on demand, because their business offers such a unique experience.

“We’re still not really worried,” she said of current gas prices.

Air travel is expected to increase 25% from a year ago, according to AAA, and despite record gas prices, 89% of travelers plan to travel by car, a 4.6% increase from at 2021 levels.

Curtis Dubay, chief economist at the U.S. Chamber of Commerce, told the Washington Examiner that there is so much pent-up demand for travel and tourism that people will pay extra for these experiences.

He noted that wages continue to rise and there is still a glut of savings people can dip into to cover the costs of their summer holidays.

“It’s definitely going to change some people’s plans, but if you’ve tried to book anything you know how hard it is to do. So people are just going to absorb the blow and move on.” , said Dubay.

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However, there are still travel options for those trying to save money. On the one hand, consumers can save on gas costs by traveling shorter distances or visiting regional destinations instead of flying across the country or overseas.

For those looking to save on travel this year, Ramsey suggests finding a place to get off the beaten path where demand may not yet have returned to pre-pandemic levels. For example, while the cost of travel to Europe and major tourist destinations right now can be extremely high, other places, like Costa Rica, are relatively cheap.

Original location: Pent-up demand shields tourism industry from soaring gasoline prices

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