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Steve Forbes: This 'Election Is Trump's to Lose'

Steve Forbes: This 'Election Is Trump's to Lose'
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Tuesday, 28 June 2016 10:16 AM

Media titan Steve Forbes, a two-time GOP presidential candidate, bluntly says the presidential “election is Donald Trump's to lose."

Forbes told CNBC that Americans don't really want to vote for Hillary Clinton because her presidency would effectively be a "third term" of President Barack Obama.

"But [Trump] has got to put out credible alternatives ... otherwise [Clinton] will win by default," said the chairman and editor-in-chief of Forbes Media.

Despite some high-profile dissenters, Forbes said: "The bases of the parties are starting to return to the candidates, even though both are unpopular with many sectors."

Forbes blamed Trump's recent troubles on the campaign's inability to control the political narrative. "Part of Trump's campaign problems is his communications department, of which there isn't [one]," he said.

While many prominent business figures have been choosing sides in this contentious presidential race, one investment icon bluntly says it doesn't really matter who becomes the next president.

For one, Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc, has said a Trump presidency wouldn’t be the blow to U.S. business that some fear, Bloomberg reported.

“If either Donald Trump or Hillary Clinton becomes president, and one of them is very likely to be, I think Berkshire will continue to do fine,” Buffett, 85, said at the company’s annual shareholders meeting in Omaha, Nebraska.

The outcome of November’s presidential election is unlikely to change the fact that the U.S. is a “remarkably attractive place in which to conduct a business,” said Buffett, who endorsed Democrat Clinton at an Omaha rally in December. U.S. companies have enjoyed “terrific” returns on equity despite a sustained period of ultra-low interest rates, he added.

Buffett, who has criticized Trump in the past and scorned politicians’ pessimism about the country, looked past the current voter angst for a longer view of U.S. economic prospects.

‘Far More’

“Twenty years from now, there’ll be far more output per capita in the United States in real terms than there is now. In 50 years, it’ll be far more,” Buffett said. “No presidential candidate or president is going to end that. They can shape it in ways that are good or bad, but they can’t end it.”

Asked how a Trump presidency might affect Berkshire’s business, Buffett replied, “That won’t be the main problem.” He didn’t elaborate.

(Newsmax wire services contributed to this report).

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Media titan Steve Forbes, a two-time GOP presidential candidate, bluntly says the presidential "election is Donald Trump's to lose.
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Tuesday, 28 June 2016 10:16 AM
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