10 Friday AM Reads
My end-of-week morning train WFH reads:
• The average 50-something American is now worth $1.4 million: Want to get rich? Get old. That’s what the data tells us about net worth in America. The average 50-something American has a net worth of $1.4 million, according to a report from Empower, the financial services firm. The average 60-something is worth $1.6 million. By contrast, the average 20-something is worth a mere $127,730. (USA Today)
• America’s own goal: Americans pay almost entirely for Trump’s tariffs: Contrary to US government rhetoric, the cost of US import tariffs are not borne by foreign exporters. Instead, they hit the American economy itself. Importers and consumers in the US bear 96 percent of the tariff burden. (Kiel Institute) see also TACO Tracking: Trump Carries Out Just One in Four Tariff Threats: Financial markets and C-suite executives have mostly shrugged off Trump’s latest warnings involving Iran’s trading partners, Greenland’s supporters, Canada and South Korea, seeing them as merely words intended to gain leverage or change behavior — nothing he’d actually carry out. (Bloomberg)
• How a BlackRock Loss Reignited Worries About What Is Hiding in Private Credit: Fund had marked investments as full-valued as recently as November, before disclosing a 19% decline last week. (Wall Street Journal)
• Who’s been buying all the gold? “Some will argue that global central banks are moving their reserves away from dollars and into gold, and this is a better measure of debasement than the bond market.” (Financial Times)
• U.S. Trade Deficit Widens Despite Trump’s Tariffs: The monthly trade deficit and imports rebounded in November after shrinking significantly in prior months, new data show. (New York Times)
• Anthropic Is at War With Itself: The AI company shouting about AI’s dangers can’t quite bring itself to slow down. (The Atlantic)
• The World Is Drowning in Tourists. Who Should Pay the Price? I’m the problem, it’s me. Last summer a French tabloid sting operation uncovered that Americans (or at least journalists posing as Americans) were being charged up to 50% more than Parisians in some of the city’s most touristy cafes. (Bloomberg)
• How popular is Donald Trump? Silver Bulletin approval ratings for President Trump — and all presidents since Truman. (Silver Bulletin)
• Yes, one image from space can change humanity’s perspective: Our view of the world, the Universe, and ourselves can change with just one glimpse of what’s out there. It’s happened many times before. (Starts With a Bang)
• Michael J. Fox and Harrison Ford on Shrinking, Parkinson’s, and Donald Trump: Following his first TV role in five years, Fox hopes to meet with Robert F. Kennedy Jr. about funding research for the incurable brain disease. But as he exclusively tells VF, the current administration “seems that they’re involved in other things that have less impact on peoples’ lives.” (Vanity Fair)
Be sure to check out our Masters in Business interview this weekend with Kate Burke, CEO of Allspring Global Investments a global asset manager with more than 600 billion dollars in assets under advisement. She is also a director on the firm’s board. Previously, she was at AllianceBernstein as COO/CFO.
YouTube leads all media, but legacy studios saw a live sports boost in Nielsen’s latest snapshot of TV distributors
Source: The Hollywood Reporter
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