Meet the top 3 candidates Trump is considering for Treasury secretary
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President-elect Donald Trump is considering three candidates for Treasury Secretary: Kevin Warsh, a former Morgan Stanley banker and Federal Reserve governor; Marc Rowan, billionaire investor and co-founder of Apollo Global Management; and Scott Bessent, founder of Key Square Capital Management. Trump recently appointed Howard Lutnick to lead the Commerce Department, removing him from Treasury consideration. Warsh, 54, has been involved in Trump's transition team and is known for his hawkish views on inflation and government spending. Rowan, 62, has nearly $700 billion in assets under management and advocates for significant economic reforms. Bessent, 62, has a history of supporting Trump and has proposed reducing government borrowing and reforming Biden's policies. Lutnick, 63, has been a long-time ally of Trump and praised tariff-based economic policies.

#Trump #TreasurySecretary #KevinWarsh #MarcRowan #ScottBessent #HowardLutnick #CommerceDepartment #EconomicPolicy #CabinetPicks #2024Election

https://www.businessinsider.com/trump-treasury-kevin-warsh-marc-rowan-howard-lutnick-scott-bessent-2024-11 

 Musk's DOGE wants to 'delete' entire government agencies. Here's where the most people are employed and what they make.
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Elon Musk and Vivek Ramaswamy co-lead the DOGE commission aimed at cutting federal agencies; over 2 million Americans work for the US government; the Department of Veterans Affairs employs nearly 500,000; the Department of Education has over 4,000 employees; the Treasury Department has over 100,000, with 94,000 in the IRS; average salaries are high in most departments; Ramaswamy stated on Fox News that mass reductions are expected; Trump has previously targeted the Department of Education for closure; Musk mentioned potential severance pay of up to two years for affected workers; the US spent $6.75 trillion in fiscal year 2024; mandatory spending programs like Medicare and Social Security are harder to cut.

#ElonMusk #VivekRamaswamy #Doge #GovernmentAgencies #FederalEmployment #BudgetCuts #Trump #DepartmentOfEducation #SeverancePay #UsSpending

https://www.businessinsider.com/how-many-federal-government-jobs-pay-salaries-elon-musk-doge-2024-11 

 Trump picks up Florida and Texas, dashing Dems' hopes of an Election Day pick-up
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Trump declared winner in 16 states including Florida and Texas; Harris wins 9 states; key swing states Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin remain uncalled; Trump leads in Georgia with 53% to Harris' 47%; abortion rights and marijuana legalization referenda fail in Florida; Gov. Ron DeSantis claims victory over progressive measures; Trump projected to win Texas, but Colin Allred trails Ted Cruz by 6 points; Loudon County in Virginia shows a shift to the right; Josh Stein wins North Carolina gubernatorial race against Trump ally Mark Robinson; polls closed in key states with varying counting times; Harris needs to win Georgia, North Carolina, and Michigan for a projected 273 electoral votes.

#Trump #Harris #Election2024 #Florida #Texas #Georgia #NorthCarolina #AbortionRights #MarijuanaLegalization #ElectoralCollege

https://www.businessinsider.com/election-results-trump-harris-presidential-election-2024-11 

 Trump Said He Called Musk for Helene Help — FEMA Was Already on It
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Donald Trump claimed he spoke with Elon Musk about deploying Starlink satellites for Hurricane Helene relief; however, FEMA had already coordinated the deployment of 40 Starlink systems to North Carolina on Sunday, September 29, 2024. Trump made his comments during a speech in Valdosta, Georgia, stating that residents lacked communication. White House spokesperson Andrew Bates confirmed FEMA's prior arrangements, stating that 140 satellites were being sent to assist with communication infrastructure repairs. FEMA Administrator Deanne Criswell made the decision to deploy the satellites, and Trump was not involved in this process. The storm resulted in at least 119 fatalities.

#Trump #ElonMusk #Starlink #Fema #HurricaneHelene #NorthCarolina #Communication #ReliefEfforts #DisasterResponse #Politics

https://www.businessinsider.com/donald-trump-elon-musk-starlink-hurricane-helene-fema-2024-9 

 Trump Said He Called Musk for Helene Help — FEMA Was Already on It
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Donald Trump claimed he spoke with Elon Musk about deploying Starlink satellites for Hurricane Helene relief; however, FEMA had already coordinated the deployment of 40 Starlink systems to North Carolina on Sunday, September 29, 2024. Trump made his comments during a speech in Valdosta, Georgia, stating that residents lacked communication. White House spokesperson Andrew Bates confirmed FEMA's prior arrangements, stating that 140 satellites were being sent to assist with communication infrastructure repairs. FEMA Administrator Deanne Criswell made the decision to deploy the satellites, and Trump was not involved in this process. The storm resulted in at least 119 fatalities.

#Trump #ElonMusk #Starlink #Fema #HurricaneHelene #NorthCarolina #Communication #ReliefEfforts #DisasterResponse #Politics

https://www.businessinsider.com/donald-trump-elon-musk-starlink-hurricane-helene-fema-2024-9 

 Dockworker Strike Set to Begin Tuesday, Threatening Supply Chains
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A dockworker strike by the International Longshoremen's Association (ILA) is scheduled to start on October 1, 2024, due to stalled wage negotiations. The strike could disrupt imports and exports across industries, affecting essential goods like medicine and holiday gifts. The ILA represents 85,000 members and has not seen a coast-wide strike since 1977. Experts warn that even a two-week strike could lead to supply chain disruptions lasting until 2025, with potential daily losses of $640 million at the Port of New York and New Jersey. The United States Maritime Alliance (USMX) has been unable to resume negotiations, and trade groups are urging the Biden administration to intervene. The strike could lead to price hikes for consumers and significant delays in shipping.

#DockworkerStrike #SupplyChain #Ila #Usmx #WageNegotiations #ImportExport #Economy #ShippingDelays #HolidayGifts #Pharmaceuticals

https://www.businessinsider.com/dockworker-strike-what-will-be-impacted-prices-inflation-martime-longshoremen-2024-9 

 Current Mortgage Trends: Are Mortgage Rates Going Down?
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Mortgage rates are expected to fall in 2024, but not to the lows seen in 2020 and 2021; Average 30-year mortgage rates are expected to end the year between 6.6% and 6.7%; Inflation and Fed hikes pushed mortgage rates up to a 20-year high in 2023 and 2024; Mortgage rates fluctuate based on factors such as investor demand, inflation, Federal Reserve policy, and geopolitical uncertainty; Major forecasts predict mortgage rates to fall in 2024 and continue to drop in 2025; Mortgage rates are not likely to go back down to 3% anytime soon; Homebuyers may consider buying now and refinancing later to avoid increased competition when rates drop.

#MortgageRates #HousingMarket #Inflation #FederalReserve #Homebuyers #Refinancing

https://www.businessinsider.com/personal-finance/mortgages/will-mortgage-rates-go-down-this-year 

 Looser regulation would allow business-led growth to relieve the 'massive' deficit burden, BlackRock chief Larry Fink says
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Larry Fink, CEO of BlackRock, argues that looser regulation is necessary for business-led growth to relieve the 'massive' deficit burden in the US. Fink believes that the private sector must be unrestrained and lead growth to lower the debt burden. He warns that the rising deficit trend in the US is unaffordable and will burden future generations. Fink suggests that growth opportunities in digitization and decarbonization can help alleviate the debt problem, but the government needs to loosen regulation and give businesses greater reign. He does not endorse either presidential candidate as the solution to the deficit issue, but emphasizes the need for regulatory relief.

#LarryFink #Blackrock #UsDeficit #BusinessRegulation #EconomicGrowth

https://www.businessinsider.com/us-deficit-debt-crisis-regulation-business-trump-biden-fink-7 

 Trump's trade and tax policies are the new hot-button topic dividing economists and market experts
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Donald Trump's proposed trade and tax policies have sparked a divide among economists and market experts. Trump plans to raise trade barriers and replace income tax with tariffs, which has drawn criticism from many economists who warn of inflation and trade wars. However, other experts believe that these policies will be watered down in Congress and will have fewer repercussions. The base argument against Trump's fiscal platform is that tariffs are inflationary and would lead to price hikes and global trade wars. On the other hand, some experts believe that the impact of Trump's policies will not be as severe as feared and that Congress will likely moderate his extreme pursuits. The outcome of Trump's policies will depend on the actions of Congress, and economists have differing views on the potential inflationary effects of his proposed tariffs.

#DonaldTrump #TradePolicies #TaxPolicies #Economists #MarketExperts #Inflation #TradeWars #Congress

https://www.businessinsider.com/trump-tariff-trade-tax-proposal-inflation-interest-rates-outlooks-predictions-2024-7 

 A NASA Astronaut Stuck in Space Has a Good Feeling She'll Be Back Safe
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NASA astronauts Suni Williams and Butch Wilmore are stuck on the International Space Station (ISS) due to delays in their return to Earth via Boeing's Starliner. They were supposed to stay for only 8-10 days but have been stuck on the ISS for over a month with no return date scheduled. Despite the delays, the astronauts remain upbeat and optimistic, expressing confidence that the spacecraft will bring them home safely. The return was delayed on June 21 to assess issues on board the Starliner, including problems with the spacecraft's reaction control system thrusters. Williams and Wilmore are not complaining about the extra time on board and are enjoying their time on the ISS. Williams spent 322 days in space before the Starliner project, while Wilmore spent 178 days. Boeing's Starliner is the company's major push to break into the commercial human-spaceflight business, but it lags behind SpaceX in sending astronauts to space since 2020.

#Nasa #Astronauts #InternationalSpaceStation #BoeingStarliner #Spaceflight

https://www.businessinsider.com/nasa-astronaut-boeing-starliner-good-feeling-be-back-safe-2024-7 

 NASA Says No Plans to Use SpaceX to Rescue Stranded Astronauts
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NASA has stated that it currently has no plans to use SpaceX's Dragon spacecraft to rescue two astronauts stranded on the International Space Station (ISS). The astronauts, Suni Williams and Butch Wilmore, are currently stuck on the ISS due to issues with Boeing's Starliner spacecraft. While a SpaceX rescue mission has not been discussed, NASA official Steve Stich mentioned that they have considered the possibility in case the situation worsens. SpaceX's Dragon capsule is already docked at the ISS, but there are no plans to use it for the rescue mission at this time. Boeing's Starliner has experienced several issues, including helium leaks and thruster malfunctions, which have delayed the return of the astronauts. If SpaceX were to rescue the astronauts, it would be a blow to Boeing, which is competing with SpaceX in the commercial crewed spacecraft market. Boeing has faced criticism from Elon Musk, who has accused the company of having too many non-technical managers. The issues with Starliner add to Boeing's recent challenges, including scrutiny over its safety culture and legal troubles related to the 737 Max crashes. NASA and Boeing have declared Starliner safe and are working to analyze data before committing to the final undock and return of the astronauts.

#Nasa #Spacex #Boeing #InternationalSpaceStation #Astronauts #DragonSpacecraft #StarlinerSpacecraft

https://www.businessinsider.com/nasa-no-plans-to-use-spacex-dragon-rescue-stranded-astronauts-2024-7 

 June Job Growth Surpassed the Expected Gain - Business Insider
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The US economy added 206,000 jobs in June, surpassing the forecast of 191,000. However, the unemployment rate unexpectedly rose from 4.0% in May to 4.1% in June. Job openings rose slightly from 7.9 million in April to 8.1 million in May. The revised job growth for May was 218,000 and for April was 108,000. Nobel Prize-winning economist Joseph Stiglitz commented on the remarkable decrease in inflation rate while the unemployment rate remained high. The labor market showed better balance in May with steady job openings and low separations. Elizabeth Renter, senior economist at NerdWallet, suggested that the current labor market supports continued inflation moderation and a possible rate cut in September.

#UsEconomy #JobGrowth #UnemploymentRate

https://www.businessinsider.com/unemployment-rate-job-growth-june-economic-data-2024-7 

 Trump lied and misled. He still won the debate against Biden.
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The first presidential debate between Donald Trump and Joe Biden took place, with Trump firing off lies and misleading statements about his record. Despite this, Biden struggled to find his footing during the debate, raising concerns about his age. Trump made false claims about the US economy, the US-Mexico border, and the US's trade deficit with China. CNN's fact-checker estimated that Trump made false or misleading statements 30 times, while Biden made nine. Biden's raspy voice and stumbling through his answers did little to convince viewers that he is fit for the job. The true impacts of the debate will be hard to determine since it was held so far from the election. The article provides analysis and quotes from experts on the debate.

#Trump #Biden #PresidentialDebate #UsEconomy #UsmexicoBorder #China #Factchecking

https://www.businessinsider.com/trump-lied-biden-lost-who-won-first-presidential-debate-2024-6 

 A Nobel Prize-winning economist breaks down exactly how Trump's proposed policies could make inflation worse
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Nobel Prize-winning economist Joseph Stiglitz and other economists are concerned about the potential inflationary impact of Trump's proposed policies. They believe that a second Trump administration would have a negative impact on the US economy and could lead to higher inflation, worse inequality, and a potential economic slowdown. Stiglitz points to factors such as large increases in tariffs, large decreases in taxes, drastic reductions in immigration, and the repeal of the Inflation Reduction Act as potential contributors to inflation. He also highlights Trump's tax policy as one that could exacerbate inequality. The economists recently signed a letter expressing their concerns about a second Trump term. The Trump campaign has disagreed with the economists' views, stating that Americans know they cannot afford four more years of Bidenomics.

#Economy #Trump #Inflation #Inequality #Tariffs #Taxes #Immigration

https://www.businessinsider.com/trump-presidency-policies-inflation-economy-americans-joseph-stiglitz-letter-2024-6 

 An ex-Wall Street banker who's visited every country shares 6 places where you can spend less and still travel in luxury
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Lee Abbamonte, an ex-Wall Street banker who has visited every country in the world, shares six countries where Americans can spend less and still travel in luxury. His top destinations include Southeast Asia, specifically Thailand, Vietnam, and Cambodia, where luxury hotels can cost under $100 a night and street food is affordable and delicious. Abbamonte also recommends Argentina, particularly Patagonia, for its outdoor activities and affordable food and accommodation. Ethiopia is another affordable destination, offering world-class cuisine and hotels. Lastly, Abbamonte suggests visiting Japan, which currently has a favorable exchange rate for the US dollar. He believes Japan offers unique experiences and is worth the higher prices compared to Southeast Asia.

#Travel #LuxuryTravel #SoutheastAsia #Thailand #Vietnam #Cambodia #Argentina #Patagonia #Ethiopia #Japan

https://www.businessinsider.com/countries-where-luxury-vacations-cost-less-us-dollar-is-strong-2024-6 

 What happened to Robert Shinn, the pastor who's the focus of Netflix's 'Dancing for the Devil: The 7M TikTok Cult'
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Robert Shinn is the focus of Netflix's 'Dancing for the Devil: The 7M TikTok Cult'; He is the founder of the Shekinah Church and the owner of 7M Films Inc.; Shinn has been accused of sexual abuse and coercion by five people; The docuseries focuses on TikTok star Miranda Derrick and her experience with Shinn's church; Former Shekinah members have accused Shinn of brainwashing and controlling their finances; Shinn is facing a civil lawsuit filed by former members, which goes to trial in 2025; Shinn's wife denies the accusations and claims they are attempting to extort her husband; Shinn currently resides in Los Angeles; The Shekinah Church is still operating today

#RobertShinn #Netflix #DancingForTheDevil #7mTiktokCult #ShekinahChurch #Tiktok #MirandaDerrick

https://www.businessinsider.com/robert-shinn-where-7m-tiktok-cult-dancing-for-the-devil-2024-6 

 More rich countries worried about the dollar want to buy gold
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Central banks from advanced economies, including China and its allies, are planning to buy more gold to hedge risks such as inflation and economic shocks. A World Gold Council survey found that 29% of 70 central banks are planning to buy gold over the next 12 months, with 15% of those in advanced economies and 40% of emerging market central banks planning to do so. The central banks' key reasons for gold purchases include rebalancing reserves and hedging against risks such as rising inflation, US dollar exposure, and market instability. Additionally, 56% of central banks from advanced economies expect the dollar's share of global reserves to fall over the next five years. The decline in the US dollar's share of global reserves is referred to as 'stealth erosion' by the International Monetary Fund.

#Gold #CentralBanks #UsDollar #Reserves #Inflation #EconomicShocks

https://www.businessinsider.com/dedollarization-rich-countries-advanced-economies-buy-gold-dollar-share-reserves-2024-6 

 Untrained staff at Amazon's One Medical miss urgent issues like blood pressure spikes and clots, according to new report
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Elderly patients of Amazon's One Medical are struggling to get adequate care, with call center employees missing major issues like blood pressure spikes and clots. The call center is staffed by contractors who receive about two weeks of medical training before responding to patient concerns. They have missed urgent issues like blood pressure spikes and sudden stomach pain with blood in one patient's stool. Instead of referring patients to urgent or emergency care, the call center staff scheduled future appointments, potentially overlooking life-threatening situations. Medical staff at the company flagged more than a dozen incidents as requiring immediate escalation. One Medical has faced patient privacy and care issues since Amazon's acquisition in 2022. Amazon developed a centralized team to respond to One Medical's senior patients in January, resulting in increased access to appointments. Since the acquisition, One Medical has reported losses, layoffs, and corporate restructuring.

#Amazon #OneMedical #PatientSafety #ElderlyPatients #CallCenter #MedicalTraining #BloodPressure #Clots #PatientCare #UrgentCare #EmergencyCare #PatientPrivacy #CorporateRestructuring

https://www.businessinsider.com/amazon-one-medical-missing-urgent-patient-safety-issues-report-2024-6 

 How the economy will change under Trump vs Biden
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Polls show that the economy is the most important issue in the election. President Joe Biden has a good record, but Americans are still angry over high prices. Former President Donald Trump is hoping that inflation-related angst will push him back into office. A May ABC News-Ipsos poll found that nearly 9 in 10 Americans said that either the economy generally or "inflation, meaning raising prices" was the most important issue in determining their vote for this November. Biden is proud of his economic record. Unemployment has remained under 4% for the longest stretch since the 1960s. More than 15 million jobs have been created since he took office. The US economy is expected to grow at double the rate of its G7 peers, according to the International Monetary Fund. Trump loved touting new Wall Street records; under Biden, the Dow hit over 40,000 for the first time. Trump has not yet provided many specifics on what he would do with a second term. Polls show that voters view his presidency much more favorably now. Trump has repeatedly pointed out that inflation was far lower (under 2% on average) during his time in office. Some of the stock market and unemployment records that were set under Trump pre-COVID-19 have been surpassed by Biden.



https://www.businessinsider.com/how-to-vote-economy-top-issue-2024-biden-trump-plans 

 Elon Musk has been draining Tesla's AI talent dry, shareholders allege in lawsuit
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Tesla shareholders have filed a lawsuit against Elon Musk, accusing him of diverting critical AI talent and resources away from Tesla and into his new AI-focused company, xAI. The shareholders claim that Musk has been poaching AI-focused employees from Tesla and redirecting critical Nvidia GPUs from Tesla to xAI. They also allege that Tesla's board has failed to stop Musk's actions. Musk has previously emphasized the importance of building AI capabilities for Tesla's future growth. Tesla's stock has dropped more than 25% this year, and critics argue that Musk's alleged actions have contributed to the decline.

#Tesla #ElonMusk #Ai #Lawsuit

https://www.businessinsider.com/tesla-shareholders-elon-musk-lawsuit-ai-2024-6 

 Tim Cook says it's a 'significant possibility' people use their iPhones less because of AI
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Apple CEO Tim Cook believes that the integration of AI into Apple devices may result in people using their iPhones less. Cook stated that as Apple Intelligence continues to improve, previously time-consuming tasks may take less time. The announcement was made at Apple's WWDC event, where the company unveiled new AI features for iPhones, iPads, and Macs. Some of the updates include a new and improved Siri, integration across apps, systemwide Writing Tools, and a revamped Photos app. Cook emphasized that Apple's goal is not to keep people on their devices all day, but rather to empower them to do things they couldn't do otherwise. Apple has also added features like Screen Time and Focus settings to help users be more intentional with their device usage.

#TimCook #Apple #Iphone #Ai #Wwdc

https://www.businessinsider.com/tim-cook-people-may-use-iphones-less-because-ai-2024-6 

 Jack Dorsey Gave $10M to Nostr Dev Devoted to Fascist 'Guru' - Business Insider
==========

Jack Dorsey, co-founder of Twitter, gave $10 million to a project called Nostr and 14 bitcoins to Nostr's anonymous founder, Giovanni Torres Parra. Parra is a Brazilian man who is a follower of far-right conspiracy theorist Olavo de Carvalho. Nostr is a decentralized social-media protocol with a small user base of cryptocurrency and privacy enthusiasts. The funding comes as Silicon Valley's rightward political drift becomes more apparent. Parra, known pseudonymously as Fiatjaf, is a developer who has built webpages devoted to disseminating the work of Olavo de Carvalho. Parra's political views were shaped by the Austrian school of economics and his frustration with Twitter's increasing censorship. Dorsey's funding went to the nonprofit Open Sats Initiative, which funds bitcoin-related projects including Nostr. The donations to Open Sats are among the largest gifts Dorsey has made as part of his #StartSmall grantmaking initiative.

#JackDorsey #Nostr #GiovanniTorresParra #OlavoDeCarvalho #Twitter #SocialMedia #Funding #DecentralizedProtocol

https://www.businessinsider.com/jack-dorsey-fiatjaf-nostr-donation-2024-6 

 We're on track for a soft economic landing, but it still feels like the economy stinks
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The US economy is on track for a soft economic landing, with recent data showing inflation and the labor market cooling. However, many Americans still feel that the economy is not improving due to inflation levels still being above pre-pandemic levels and a slowing job market. Interest-rate cuts, which could come as soon as September, may help improve the situation. Former Fed economist Claudia Sahm believes the Fed is the biggest risk to a soft landing. Despite the positive signs, some experts, such as French bank SocGen and UBS, still see red flags and predict a potential downturn. In other news, another company has joined the $3 trillion club, Jack Dorsey donated $10 million to a Twitter alternative, and a new NBA deal could affect NBC and Peacock shows.

#UsEconomy #SoftEconomicLanding #Inflation #LaborMarket #InterestRates #JobMarket #Fed #Recession #StockMarket #Nvidia #JackDorsey #Nba

https://www.businessinsider.com/soft-landing-economy-us-on-track-data-cooling-interest-rates-2024-6 

 Upgrading to Premium Economy on 13-Hour Flight for $300, Worth It
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The article discusses the author's experience of upgrading to premium economy on a 13-hour United Airlines flight from Japan to the US. The upgrade cost $300 and was worth it for trips over 10 hours. The author enjoyed the added comfort, space, and amenities in premium economy. They were able to sit near the front of the plane, which allowed for a quick exit upon landing. The upgraded seat included amenities such as noise-canceling headphones, a pillow, a blanket, and a pouch with various essentials. The extra legroom and footrest provided comfort during the flight. The larger entertainment system made watching movies and TV easier. The food service in premium economy was slightly elevated, with better meals served on real plates with cloth napkins and real silverware. The author concludes that the $300 upgrade was worth it for long-haul flights over 10 hours and would consider upgrading again in the future.

#UnitedAirlines #PremiumEconomy #FlightUpgrade #Comfort #Amenities

https://www.businessinsider.com/united-airlines-premium-economy-upgrade-japan-us-worth-it-2024-5 

 Baby boomers have been America's secret weapon for fending off recession
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Baby boomers are spending heavily on services, boosting payrolls and income, repelling recession. The generation has started to retire with a record $76 trillion in net worth and is spending on restaurants, cruises, traveling, and healthcare. This spending has expanded the service industries' payrolls, boosting real incomes and fueling more spending. While the goods sector has shown signs of a growth recession, goods spending remains at a record high. Retiree consumption is one of many recession-canceling factors. The Federal Reserve's aggressive hiking cycle and flashing recessionary indicators were initially expected to cause a downturn, but the problems typically brought on by tight monetary policy have been largely overcome. Higher rates strengthened consumer resiliency, and the baby-boomer focus on service spending may have deformed indicators, making things look gloomier than they are.

#BabyBoomers #Recession #ConsumerSpending #Retirement #Economy

https://www.businessinsider.com/us-recession-baby-boomer-consumer-spending-downturn-retirement-hard-landing-2024-5 

 The West can't completely isolate Russian banks because it would be disastrous beyond Russia
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The West has tried for more than two years to cripple Moscow's finances by way of sanctions. However, the West hasn't blocked all Russian banks' access to SWIFT due to potential global impact. From February to May 2022, the US and European Union repeatedly moved to block some Russian banks' access to SWIFT — but spared those that process international oil and gas payments. Cutting off all Russian banks' access to SWIFT would have a massive knock-on impact globally. Despite the West's frustration with how Russia's economy still appears to be holding up, the sanctions appear to be finally working. Russia's economy is in 'deep, deep trouble' due to sanctions and finite reserves. Russia's economy is unlikely to hold up due to the finite nature of its reserves. Russia has limited options other than the Chinese yuan for its reserves. In five years, there will be a disastrous slowdown in the Russian economy. Russia's economy is in 'deep, deep trouble' due to sanctions and finite reserves. Russia's economy is unlikely to hold up due to the finite nature of its reserves. Russia has limited options other than the Chinese yuan for its reserves. In five years, there will be a disastrous slowdown in the Russian economy.

#RussianBanks #Sanctions #Swift #GlobalImpact #RussianEconomy

https://www.businessinsider.com/west-cannot-completely-isolate-russia-banks-disastrous-globally-putin-economy-2024-5 

 Will a cruise ship wait for me if I'm running late at a port stop? Here's what a captain has to say.
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Captain Rob Hempstead of Royal Caribbean's Wonder of the Seas shared advice on what to do if you're running late to a cruise ship. If you're late returning from a cruise-line organized excursion, the ship will wait. However, if you've spent the day independently or with a private tour company, you should call the ship agent to alert them of your delay. The captain will make an educated decision about whether or not to wait based on the estimated time of your arrival. The crew's main concern is sticking to the tight schedule and avoiding burning excessive fuel. It's recommended to plan your day with ample time to return to port or book excursions through the cruise line.

#CruiseShip #PortStop #Captain #RunningLate #Excursion

https://www.businessinsider.com/how-late-will-cruise-ship-wait-for-you-2022-7 

 Why Americans' confidence in finding a new job is tanking even as the labor market is humming along
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Americans are becoming more pessimistic about their chances of finding a new job if they lose their current one, according to the New York Fed's Survey of Consumer Expectations. As of April, the average probability of finding a new job within three months was 50.9%, the lowest since April 2021. This pessimism is seen across education levels, incomes, and regions of the US. The job market has become more challenging, with fewer job postings and increased competition among applicants. Americans looking for remote work and high-wage roles are facing difficulties. Some experts argue that people's pessimism about the economy may be due to the impacts of the pandemic. Despite the pessimism, the unemployment rate remains low and the US economy continues to add jobs.

#JobMarket #Unemployment #Economy #Pessimism #LaborMarket

https://www.businessinsider.com/americans-more-worried-finding-job-laid-off-unemployed-2024-5 

 The consumer slowdown is here and its flashing a recession warning for the economy
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Consumer spending in the US is slowing, which is seen as a warning sign for the economy. Retail sales were unexpectedly flat in April, and March retail sales were revised downward. Economist David Rosenberg has been calling for a recession and believes the downward revisions to sales numbers suggest the economy has been weaker than previously thought. A survey conducted by Primerica found that 67% of middle-class respondents said their income was falling behind the cost of living, causing them to cut back on discretionary purchases. Americans are also saving less, and household debt has surged to a record $17.6 trillion. Job growth has slowed, and consumer spending has taken a hit partly due to the weakening job market. The New York Fed sees a 50% chance of a recession by April 2025.

#ConsumerSpending #Recession #Economy #RetailSales #JobMarket #HouseholdDebt

https://www.businessinsider.com/recession-outlook-hard-landing-economy-consumer-spending-slowdown-growth-gdp-2024-5 

 Meet the group preparing for a Soviet Union-type collapse of the US economy
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A group of users on the subreddit r/economiccollapse are preparing for a Soviet Union-type fall of the US economy. The subreddit's membership has grown 80% from the end of 2021 to the end of 2023. Searches for 'stock market crash' and 'economic crash' have also increased. The middle class and ALICEs (asset limited, income constrained, employed) are struggling financially. The housing market is facing problems with sky-high mortgage rates and an increasing number of houses worth less than their mortgages. The stock market's strength is partially attributed to AI, which could lead to a crash. Job growth has slowed, and interest-rate cuts are being delayed. Inflation concerns are debated, with some arguing a soft landing is still possible. Billionaire hedge fund manager Jim Simons died at the age of 86. The US-China rivalry may impact Big Tech. Mark Zuckerberg has turned against the news industry. Startups are focusing on helping people make friends through in-person events. OpenAI is teasing a new announcement. Banks are improving credit-card fraud protection. Rick Doblin and MAPS are pushing to legalize medical MDMA. Some millennials who bought real estate before the pandemic have benefited financially.

#EconomicCollapse #Recession #StockMarketCrash #HousingMarket #Ai #JobGrowth #InterestrateCuts #Inflation #HedgeFund #UschinaRivalry #BigTech #MarkZuckerberg #Startups #Openai #CreditCards #MdmaLegalization #Millennials

https://www.businessinsider.com/economic-doomsday-preppers-economy-recession-crash-reddit-2024-5 

 Delta has the best first class and Southwest has the best economy seats — see JD Power's airline rankings
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Delta Air Lines has been ranked as passengers' No. 1 pick for its first class by JD Power's airline rankings. Delta regained the top spot after coming in second last year to JetBlue Airways. JetBlue fell to second place this year, followed by United Airlines. Delta's premium economy class claimed the top spot for the second year in a row. Southwest Airlines took top honors in the economy/basic economy segment for the third consecutive year. Air Canada ranked last in customer satisfaction in the first/business class and premium economy categories. Frontier Airlines finished last in the economy/basic economy segment. The study found that trust and ease of travel have superseded price as key driving factors for consumer satisfaction. Media coverage can significantly affect consumer trust in airlines. JD Power's 2024 study is based on responses from 9,582 passengers who had flown on a major North American airline within the previous month of completing the survey, which was conducted between March 2023 and March 2024.

#Airlines #CustomerSatisfaction #Delta #Southwest #JdPower

https://www.businessinsider.com/best-and-worst-airlines-us-canada-customer-satisfaction-delta-southwest-2024-5 

 China has a lot more missiles — with US warships and bases in its sights
==========

China's Rocket Force has expanded its missile arsenal, posing a significant threat to American warships and bases in the Pacific. The Rocket Force is armed with thousands of missiles, including medium-range ballistic missiles and intermediate-range missiles that can reach Guam. The force aims to enforce China's claims in the South China Sea and deter US forces and allies in the Indo-Pacific region. The US military is concerned about the growing missile capabilities of China's People's Liberation Army Rocket Force, which could overwhelm American defenses and cause significant damage. The US has been strengthening its air defenses and training exercises with Pacific allies to counter the threat.

#China #UsMilitary #Missiles #RocketForce #Pacific

https://www.businessinsider.com/us-military-china-missile-problem-getting-worse-2024-5 

 'Proper' Recession Downturn Looms and Will Trigger Steep Fed Rate Cuts
==========

Economist Frances Donald warns that a 'proper' economic downturn is looming in the US, which could trigger steep rate cuts as soon as this year. With a slowdown in the US labor market, two negative quarters of growth could hit at the end of the year, prompting the central bank to ease quickly and beyond market expectations. Donald believes that the downturn will require a proper easing cycle and not just insurance cuts. Futures markets are already pricing in two 25-basis point cuts closer to the end of this year. The weakening labor market, including household and temporary employment stats, consistent job loss data, dropping quit rates, and a pullback in small business hiring, supports the recessionary outlook. The Fed's inability to cut rates sooner adds risk in the near term.

#UsEconomy #Recession #FederalReserve #InterestRates

https://www.businessinsider.com/recession-downturn-outlook-us-economy-fed-pivot-interest-rate-cuts-2024-5 

 Buy these 8 underrated stocks that are about to report surprisingly strong Q1 earnings, according to Bank of America
==========

Bank of America remains bullish on small caps, even though interest rates are elevated. Bank of America's US regime indicator rose last month, the third consecutive increase and the largest in over two and a half years. A continued economic expansion marked by a relatively healthy labor market is excellent news for smaller stocks. BofA encouraged its clients to remain invested in the group. Within SMID-caps, value-oriented companies and those with a quality bent have performed best lately. Bank of America recently shared a list of 13 buy-rated small- and mid-cap stocks that beat both earnings and revenue estimates last quarter and can top consensus expectations again in Q1. The other eight SMID-cap stocks with earnings prospects that Bank of America is bullish about are: Addus HomeCare, US Physical Therapy, Alarm.com, Trex Company, Dynatrace, Patterson Companies, AutoNation, and Saia.

#Stocks #SmallCaps #Q1Earnings #BankOfAmerica

https://www.businessinsider.com/stocks-to-buy-small-caps-q1-earnings-bank-of-america-2024-5 

 America's big stagflation scare is over
==========

The US economy's stagflation scare is over after a weak Q1 jobs report. Fears of stagflation were sparked by a weak first-quarter GDP print, but the April jobs report showed that 175,000 positions were added last month, below the consensus forecast of 238,000. Average hourly earnings also unexpectedly declined to 0.2%. This mix of data dispelled the stagflation narrative as job additions were not weak enough to signal a slowdown, but also not strong enough to support higher interest rates. The report eased concerns that arose from the latest GDP print, which showed a slowdown and high underlying inflation. Wall Street was also worried about stagflation, but the jobs report brought relief. If the report had printed weaker, it could have deepened the stagflationary outlook and potentially caused a market sell-off. However, the benchmark S&P 500 rose 1.14% after the report. The US experienced stagflation in the 1970s, characterized by high consumer prices, recessions, and a weak stock market.

#UsEconomy #Stagflation #JobsReport #Gdp #Inflation #InterestRates #StockMarket

https://www.businessinsider.com/stagflation-us-economy-recession-outlook-forecast-q1-jobs-report-labor-2024-5 

 Why economists who originally expected multiple deep rate cuts in 2024 now say a hike is possible
==========

Macquarie, an economic firm, has changed its forecast for interest rates in 2024. Previously, they projected aggressive interest rate cuts by the Federal Reserve in the second half of the year, but now they believe that potential rate cuts won't happen until 2025. The firm suggests that the next change may be a hike, which would lead to a new wave of broad-based US dollar strength. This change in forecast is due to signs of rebounding inflation and the resilience of the US economy. Macquarie's economists now believe that the chances of a Fed interest rate cut this year are slim to none and that an interest-rate hike is possible. The firm also mentions that the threat of a hike would prompt a new wave of broad-based USD strength. The upcoming FOMC meeting could result in a hawkish press conference from Fed Chairman Jerome Powell. A rising US dollar could negatively impact US companies with operations overseas. Macquarie's previous forecast was similar to UBS, which predicted aggressive interest rate cuts due to a US recession.

#InterestRates #FederalReserve #Macquarie #Economists #Forecast #Inflation #UsEconomy #FomcMeeting #JeromePowell #UsDollar #UsCompanies #Recession

https://www.businessinsider.com/interest-rate-outlook-fed-hike-chances-cuts-jerome-powell-economy-2024-4 

 The Best, Underrated Places to Visit With Kids, From a Travel Blogger
==========

Karen Edwards, a travel blogger, has visited 93 countries, 57 of them with her young children. She prefers exploring underrated spots over popular ones. Her favorite underrated spots include Tanzania for its safari tours and Abu Dhabi for its vibrant festival scene. She also loves Sri Lanka for its diverse experiences and pristine beaches, and Andorra for its ski resorts and spas. Edwards also had a positive experience in Macedonia, where she was treated like family. She believes that traveling to underrated spots offers a more exclusive and educational experience, away from tourist traps.



https://www.businessinsider.com/best-underrated-places-visit-with-kids-from-travel-blogger-2024-4 

 The yield curve has been inverted for 18 months without a downturn - but the famed indicator isn't wrong, and a recession is near, strategist says
==========

The yield curve has been inverted for 18 months, signaling a recession is near. The inverted Treasury yield curve, which occurs when the yield on the 2-year US Treasury surpasses the 10-year Treasury, has correctly predicted every recession since 1955. Despite the resilience of the US economy, a downturn is still expected, with recessions historically taking up to 28 months to officially start after being signaled by the yield curve and leading economic indicators. Chief investment strategist Paul Dietrich warns that investors should be skeptical of those who claim a new bull market has begun and that a recession won't occur. Dietrich is among the more bearish forecasters on Wall Street, having previously predicted a mild recession this year that could cause stocks to drop by as much as 49%.



https://www.businessinsider.com/recession-outlook-yield-curve-inversion-economy-hard-landing-indicator-stocks-2024-4 

 Russia's economic strength will last another 18 months before unraveling as Putin grapples with policy 'trilemma,' think tank says
==========

Russia's economic strength could last another year-and-a-half before it starts to fade, according to the Carnegie Endowment for International Peace. The think tank pointed to the nation's show of defiance amid its invasion of Ukraine, with the Russian economy still strong despite rising military costs and Western sanctions. However, the current arrangement is expected to come apart within eighteen months due to growing imbalances and possible social problems. Putin is facing a policy 'trilemma' as the nation goes through its third year of war in Ukraine, trying to fund the military, maintain living standards, and keep the economy stable. Signs of weakness have already emerged, such as record military spending, inflation, and falling incomes. Experts warn of near-term social unrest and a grim future due to a shortage of workers, declining productivity, and isolation from the rest of the world.

#Russia #Economy #Putin #Policy #Trilemma #Ukraine #Sanctions #Military #Inflation #SocialUnrest

https://www.businessinsider.com/russia-economy-ukraine-war-putin-growth-outlook-inflation-military-spending-2024-4 

 Rise of Hate Spending: Americans Detest High Prices but Keep Shopping
==========

Despite hating high prices, Americans continue to spend heavily. Retail sales in March were higher than expected, indicating that consumers are still the driving force behind the economy. The surge in hate spending can be attributed to factors such as financial stability, resignation to the state of financial affairs, and the desire to live it up after the pandemic. While lower-income households may be struggling, Americans as a whole are in good financial shape. The misalignment between people's stated attitude toward prices and their actual behavior can be attributed to a decoupling between their current situations and their feelings about the future. Additionally, consumerism and the desire for status play a role in hate spending. People are willing to splurge on experiences and luxury items, even if they are more expensive than before. The article suggests that moderation in spending may be on the horizon, but it is unclear when that will happen.

#ConsumerSpending #HighPrices #RetailSales #Inflation #Economy

https://www.businessinsider.com/hate-spending-consumers-economic-sentiment-retail-sales-inflation-gdp-growth-2024-4 

 Romance scammers are now building trust with AI-generated deepfakes. Here's how to spot them.
==========

Romance scammers, known as 'Yahoo Boys,' are using AI-generated deepfakes to defraud people online. The Nigerian online crime group has cost Americans $1.3 billion in 2022. The scammers create fake online personas and solicit money from victims by gaining their trust. They often target older individuals for their life savings, inheritances, and retirement funds. Victims have reported losing significant amounts of money, with one widow losing $39,000. The scammers have started using deepfake video clips and video calls to dupe internet users. They set up calls through Zoom and use software to change their facial features. In February, a finance worker in Hong Kong lost $25 million to scammers using deepfakes. In Utah, seven members of the Nigerian group were indicted for laundering funds obtained from romance scams. Victims in Utah lost over $3.6 million in 2022. To spot a deepfake, it is recommended to do a reverse image search and check the true source of an image. The US attorney's office advises never to send money to someone you haven't met in-person.

#RomanceScams #AigeneratedDeepfakes #YahooBoys #Nigeria #Fraud

https://www.businessinsider.com/romance-scams-ai-deepfakes-yahoo-boys-nigeria-fraud-2024-4 

 Meta's 'Imagine' AI image generator morphs and changes as you type
==========

Meta introduced Imagine, a new AI image generation feature called Imagine that allows users to create images in real time. The feature uses Meta's AI model, Llama 3, for sharper, high-quality images. Users can generate images by typing the prompt 'Imagine' followed by a description, and the image will change as they type. The feature is part of a broader announcement made by Meta last week. Meta's CEO, Mark Zuckerberg, referred to the company's 'big AI news' as 'pretty wild.' Meta is still catching up to competitors like OpenAI and Anthropic.



https://www.businessinsider.com/meta-imagine-ai-image-generator-morphs-as-you-type-2024-4 

 Taylor Swift's name is popping up on Wall Street earnings calls thanks to her massive impact on the US economy
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Taylor Swift's impact on the US economy is evident through her successful tour and new album. Her 60-show tour generated a record $1.04 billion in sales, leading to a surge in hotel bookings. Several companies, including Uber, AMC Entertainment, Disney, National Bank Holdings, and Live Nation, have mentioned Swift on Wall Street earnings calls to explain their business performance. Swift's concerts and movies have contributed to revenue and EBITDA growth for these companies. Her cultural phenomenon status and exclusive streaming rights for her concert movie on Disney+ have also been highlighted. The Midwest market, particularly Kansas City, has experienced growth, which the CEO of National Bank Holdings jokingly attributed to Taylor Swift and the Chiefs. Live Nation's CEO sees Swift and Drake as the start of a new revolution in the music industry.

#TaylorSwift #WallStreet #EarningsCalls #UsEconomy #Concerts #Movies #RevenueGrowth #EbitdaGrowth #Disney+ #KansasCity #LiveNation

https://www.businessinsider.com/taylor-swift-economic-impact-wall-street-earnings-calls-new-album-2024-4 

 The US's blowout debt burden is one piece of a global problem, IMF warns
==========

The International Monetary Fund (IMF) warns that the US's ballooning debt burden could have a negative impact on the global economy. The IMF's latest Fiscal Monitor report highlights the risks associated with the US deficit, which is projected to reach 7.1% by 2025, more than triple the overspending levels of other advanced economies. The report emphasizes that loose fiscal policy in the US puts upward pressure on global interest rates and the dollar, exacerbating existing fragilities and risks. The IMF also raises concerns about China's deficit and debt levels, stating that how these two economies manage their fiscal policies could have profound effects on the global economy. The Congressional Budget Office projects that US debt will reach 116% of GDP by 2054. The report suggests that bipartisan willingness to cut spending and implement tax hikes across income levels could be potential solutions to address the debt issue.

#UsDebt #GlobalEconomy #Imf #FiscalPolicy #CongressionalBudgetOffice

https://www.businessinsider.com/us-debt-outlook-borrowing-costs-bond-yields-global-economy-imf-2024-4 

 Russia will grow faster than the US and all other advanced economies this year, the IMF says
==========

Russia's economy is predicted to grow by 3.2% in 2024, outpacing all advanced economies, including the US, the IMF said. The growth rate has been linked to high investment and robust private consumption. The IMF expects the momentum to fade in 2025, with Russia growing at a rate of 1.8%. Russia's resilience against Western sanctions is attributed to its alliance with China and strong energy exports. Moscow has been accruing funds from fleeing foreign companies, seizing $387 million as of mid-March. Trade volume between Russia and China surged to a record $240 billion last year.

#Russia #Economy #Imf #GrowthForecast

https://www.businessinsider.com/russia-economy-grows-faster-than-all-advanced-economies-imf-2024-4 

 Americans are losing confidence in their military and government institutions: polls
==========

New Gallup data reveals that the US has fallen behind several G7 countries in key indicators. In 2023, 26% of Americans struggled to afford food. Confidence in the US military has fallen, with a new low of 81%. Confidence in the US government and judiciary has also declined. The drop in confidence began after the Biden Administration's decision to withdraw US forces from Afghanistan. Just a third of Americans in 2023 thought the US was spending the right amount on defense. Confidence in the US judicial system fell to 42% in 2023. The US economy remains stronger than its G7 peers, with a GDP growth of 2.5% in 2023. However, 26% of Americans struggled to afford food, the highest among G7 countries. Americans are split on their economic trajectory, with 44% thinking their local economies are getting better and 48% thinking they are getting worse.

#Confidence #G7Countries #FoodInsecurity #UsMilitary #UsGovernment #UsJudiciary #GdpGrowth

https://www.businessinsider.com/military-government-judiciary-confidence-food-insecurity-g7-gallup-gdp-growth-2024-4 

 The Fed may have pumped so much money into the economy that it's now taking way longer to cut rates
==========

US Federal Reserve Chair Jerome Powell has signaled a delay in expected interest rate cuts, citing the need for more time to be confident that the fight against inflation is working. Excess money, a result of pandemic-era policies, may be drained from the economy later this year. The Fed can maintain the current level of restriction if higher inflation persists. Lower interest rates encourage borrowing and spending, driving the economy. An analyst believes it will be difficult to achieve a soft landing for the US economy due to the scale of the COVID-19 stimulus and money supply. Money supply, consumer demand, supply chain snarls, and fiscal stimulus all contribute to inflation. The Fed's next policy meeting is scheduled for April 30 to May 1.

#UsFederalReserve #InterestRates #Inflation #MoneySupply #Economy

https://www.businessinsider.com/fed-powell-pump-money-us-economy-delayed-cut-interest-rate-2024-4 

 The US's newest immigrants are more likely than native-born Americans to have a college degree, per Goldman Sachs
==========

Recent immigrants in the US are more likely to have a college degree compared to native-born Americans, according to a Goldman Sachs report. Many recent immigrants come from South America, Central America, and Mexico, and settled in states like Florida, California, Texas, and New York. They are more likely to work in industries such as construction, professional and business, and accommodation and food services. Recent immigrants earn less than $40,000 a year on average, compared to $54,000 for US-born workers. The number of foreign-born workers in the US has increased, accounting for most of the growth in the labor force.

#UsImmigration #ImmigrantWorkers #CollegeDegree #Employment #Income

https://www.businessinsider.com/typical-immigrant-united-states-jobs-construction-food-services-florida-california-2024-4 

 Jamie Dimon made $183 million from selling JPMorgan stock
==========

Jamie Dimon, CEO of JPMorgan, has sold 1 million JPMorgan shares, earning $183 million in total proceeds. He sold $33 million worth of stock on Monday and had previously sold a $150 million tranche in February. The sales were for diversification and tax planning purposes. This is the first time Dimon has sold JPMorgan shares in 19 years. Dimon still owns about 8.7 million shares after the disposals. He has warned investors about threats to financial markets and the US economy in his yearly letter to shareholders, including rising tensions, inflation, and foreign conflicts.

#JamieDimon #Jpmorgan #StockSales #Diversification #TaxPlanning #FinancialMarkets #UsEconomy

https://www.businessinsider.com/jpmorgan-jamie-dimon-stock-sales-billionaires-wall-street-banks-economy-2024-4 

 Stock market today: US futures tread water as Wall Street remains cautious
==========

US futures were little changed on Tuesday morning after a losing start to the week for all three major indices on Monday as investors worried about the Israel-Iran conflict. S&P 500 futures were trading flat shortly before 5 a.m. ET. Nasdaq 100 futures were also level, while Dow Jones Industrial Average futures fell 0.1%. US equities suffered setbacks across the board on Monday. The Dow marked its sixth consecutive losing day, dropping 248 points or 0.65%. The S&P 500 dropped 1.2%, while the Nasdaq Composite slid below its 50-day moving average for the first time since November, losing 1.79%. The 10-year Treasury yield remained level overnight, remaining near its highest level in five months. The DXY index, which measures the greenback's strength against six other currencies, rose by 0.1% overnight, also keeping level with solid gains on Monday. The release of strong data on Monday signaled the resilience of the US economy, but also pushed back chances that the Fed will cut interest rates in June. September is considered to be the most likely point at which the Fed will act. Traders will be looking to a series of talks from key figures at the Federal Reserve, including Chair Jerome Powell and Vice Chair Philip Jefferson, for a clearer indication. Also coming on Tuesday, the IMF will be publishing its latest World Economic Outlook, while major banks releasing quarterly earnings today include Bank of America and Morgan Stanley.

#StockMarket #UsFutures #WallStreet #GeopoliticalUncertainty

https://www.businessinsider.com/stock-market-news-today-futures-level-wall-street-geopolitical-uncertainty-2024-4 

 Here's how much food costs at Coachella, including $11 for a slice of pizza and $33 for a turkey burger meal
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The article provides a breakdown of the prices of food at the Coachella Valley Music and Arts Festival. Business Insider's music team attended the festival in 2022 and 2023 and documented the prices of various food items. The costs include $10 for a cup of black coffee, $11 for a slice of pizza, $17 for a fried chicken sandwich, $16 for a grilled cheese sandwich, $17 for chicken tenders, $13 for a 'sumo dog', $18 for a Japanese-inspired hot dog, $17 for an orange-chicken bowl, and $45 for two basic hot dogs and two sides of fries. The article also mentions the limited seating options at the festival, which makes it difficult to enjoy certain food items that require utensils or a steady hand. The prices of coffee were particularly high, with an oat milk latte costing $15 and a small cup of black coffee costing $10. The article concludes by mentioning the cost of a large cup of strawberry lemonade, which was just over $18.

#Coachella #FoodPrices #MusicFestival #FoodOptions

https://www.businessinsider.com/coachella-how-much-does-food-cost-photos-2022-4 

 Boomers are hanging onto large homes, boxing out millennials with growing families. That could hurt Biden in the election.
==========

Many baby boomers are choosing to remain in their large homes, causing a housing shortage for millennials with growing families. According to a Redfin analysis of US Census Bureau data, 28% of homes with three or more bedrooms are owned by empty-nesters aged 60 to 78, while millennials with children own only 14% of similarly-sized properties. The tight housing market and high-interest rates have made it difficult for millennials to purchase homes within their budget. This issue of housing affordability could impact the 2024 election, as Gen Z and millennial voters are frustrated with the lack of action from leaders in Washington. President Joe Biden has emphasized housing affordability on the campaign trail, but many voters aged 18 to 44 are not enthused with the administration. This could benefit former President Donald Trump, despite the left-leaning orientation of many young voters. The housing shortage and high mortgage rates have resulted in a lower quality of life for millennial families compared to their parents. The article suggests that there is still not enough housing available.

#HousingAffordability #BabyBoomers #Millennials #2024Election

https://www.businessinsider.com/baby-boomers-millennials-large-homes-inventory-affordability-election-2024-4 

 These 5 recession indicators have escaped the danger zone after flashing economic red flags
==========

Five recession indicators that were flashing a warning sign about the economy have since retreated, according to Ned Davis Research. The indicators include NDR's Recession Probability Model, household employment levels, gross domestic income, the Leading Economic Index, and the inverted yield curve. These indicators have all shown positive trends, suggesting minimal odds of a recession at this time. The reversal of these indicators highlights the risk of relying on a few indicators to support a particular view.



https://www.businessinsider.com/5-recession-indicators-leave-danger-zone-after-economy-warning-signs-2024-4 

 Immigration has helped the hot US economy and labor market, but there's a risk of oversupply, Fitch says
==========

Foreign-born workers are leading the increase in the US labor force, representing 19% of the labor force at YE 2023. The foreign-born labor participation rate is 66%, higher than the native-born participation rate of 62%. Net immigration averaged 0.9% of the US population for the past two years. While higher immigration flows should keep labor momentum going, there is a risk of oversupply as labor demand starts to show signs of decline. Government hiring has also contributed to the impressive labor market, with job growth in this sector averaging 2.7% in 2023.

#UsLaborMarket #Immigration #LaborForce #Oversupply #EconomicGrowth

https://www.businessinsider.com/immigration-us-labor-jobs-market-growth-recession-oversupply-outlook-layoffs-2024-4 

 Florida's Brightline Train Is Good, but Not Worth the Price
==========

The author took Florida's Brightline train from Miami to Orlando and had a great experience, but wouldn't pay for it again; Brightline is a new transportation option in Florida; The author was upgraded to a premium ticket after Brightline experienced delays opening its Orlando station; The Brightline station in Miami was clean, spacious, and beautifully decorated; The author initially purchased a standard ticket but received a free voucher for a premium ticket due to the delays; Premium ticket holders had access to a private lounge with snacks and beverages; The boarding process was organized and the train was waiting on the platform; The trip to Orlando was quiet and the train car was mostly empty; Premium passengers received a complimentary meal; There was a 35-minute delay in Port St. Lucie due to a mechanical issue with the bridge; The author enjoyed the experience but wouldn't pay for it again due to the high price compared to other transportation options.

#Florida #BrightlineTrain #Transportation #PremiumTicket #Miami #Orlando

https://www.businessinsider.com/florida-brightline-train-premium-ticket-not-worth-price-miami-orlando-2023-10 

 More CEOs expect hybrid work is here to stay
==========

According to a survey by KPMG US, fewer big-company CEOs expect workers to return to the office full-time. Just 34% of US CEOs expect office-based roles to return in the near future, down from 62% in 2023. The survey also showed that 46% of CEOs expect office roles to be hybrid, up from 34% in 2023. Only 3% of CEOs back fully remote work. CEOs are also exploring new ways of scheduling work, such as a four-day week or a four-and-a-half-day week. The survey found that 87% of CEOs are confident in the growth trajectory of the US economy, and 78% are confident in the global economy and the prospects for their companies in the next year. About one-third of CEOs expect a significant increase in hiring in the next year. CEOs are also looking to adopt generative artificial intelligence (AI) more widely, with nearly four in 10 CEOs expecting their companies to move from AI pilots to broader use within the next 12 to 18 months. CEOs are also planning to disclose the use of AI, with 81% planning to flag when AI is involved, up from 19% in 2023. However, CEOs expressed concerns about the US presidential election, high interest rates, geopolitical challenges, and inflation.



https://www.businessinsider.com/hybrid-work-here-to-stay-ceos-rto-remote-2024-4