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☆ Election Updates: Biden heads to Pennsylvania to talk taxes and hit Trump.
▼ + stars: | 2024-04-16 | by ( Nicholas Nehamas | ) www.nytimes.com time to read: +4 min

In an unprecedented trial, Mr. Trump is spending most of this week, and much of the coming month or two, in a Manhattan courtroom facing criminal charges. In 2020, he narrowly defeated Mr. Trump in Pennsylvania by about 80,000 votes. “I went to school here, right?” Mr. Trump, a graduate of the Wharton School of the University of Pennsylvania, reminded his audience. They say it is imperative that Mr. Biden campaign in western Pennsylvania, as well as swing areas like Erie County, which Mr. Biden flipped in 2020. Mr. Trump said last week that he would not, reversing a position he held during his term in the White House.

Persons: Biden, Donald J, ” Michael Tyler, Trump, Mr, “, Trump’s, Michael Gold Organizations: Trump, Biden, Affordable, Mr, Wharton School, University of Pennsylvania, Scranton, Pittsburgh, United Steelworkers . Unions, Democrats, U.S . Steel, steelworkers, Democratic National Committee, Democratic Locations: Pennsylvania, Scranton, Manhattan, Israel, Michigan, Wisconsin, Philadelphia, Erie County, Arizona, Schnecksville, Pa

☆ Fed's Powell 'landed the plane' but economy shouldn't have needed saving, says Jeremy Siegel
▼ + stars: | 2024-04-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's Powell 'landed the plane' but economy shouldn't have needed saving, says Jeremy SiegelJeremy Siegel, professor of finance at the Wharton School, joins CNBC's 'Closing Bell' to share his reaction to the March jobs report, potential rate cuts, and earnings expectations.

Persons: Fed's Powell, Jeremy Siegel Jeremy Siegel Organizations: Wharton School

☆ Swelling US debt could tip US markets into crisis as soon as next year, Wharton professor says
▼ + stars: | 2024-04-04 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Market chaos could come next year if the US doesn't adjust its fiscal path, Joao Gomes told CNBC. The US can't afford to extend tax cuts next year, he said. If it doesn't adjust its fiscal trajectory soon, 2025 could be the year when markets start to roil, Wharton professor Joao Gomes warned. "That's something that could definitely happen to us next year," Gomes told CNBC on Thursday. "I think we'll have a serious debate next year about the tax cuts and whether to extend them or not," he said.

Persons: Joao Gomes, Wharton, —, It's, Gomes, Maya MacGuineas, Gomes isn't, Jamie Dimon, Ken Griffin Organizations: CNBC, US, Service, Bank of America, Penn Wharton Budget Model, Trump Administration, White House, Federal, Wall Locations: roil

☆ Opinion | How Should I Be Using A.I. Right Now?
▼ + stars: | 2024-04-02 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +1 min

There’s something of a paradox that has defined my experience with artificial intelligence in this particular moment. So I wanted to understand what I’m missing and get some tips for how I could incorporate A.I. This conversation covers the basics, including which chatbot to choose and techniques for how to get the most useful results. But the conversation goes far beyond that, too — to some of the strange, delightful and slightly unnerving ways that A.I. responds to us, and how you’ll get more out of any chatbot if you think of it as a relationship rather than a tool.

Persons: Ethan Mollick, University of Pennsylvania who’s, “, Ezra Klein, chatbot Organizations: Wharton School, University of Pennsylvania, Apple, Spotify, Amazon Music, Google

☆ Daniel Kahneman’s Gift for Adversarial Collaboration Is What We Need Now - The New York Times
▼ + stars: | 2024-04-01 | by ( Cass R. Sunstein | ) www.nytimes.com time to read: +1 min

Our all-American belief that money really does buy happiness is roughly correct for about 85 percent of us. We know this thanks to the latest and perhaps final work of Daniel Kahneman, the Nobel Prize winner who insisted on the value of working with those with whom we disagree. Professor Kahneman, who died last week at the age of 90, is best known for his pathbreaking explorations of human judgment and decision-making, and of how people deviate from perfect rationality. Beyond a threshold at or below $90,000, Professor Kahneman and Professor Deaton found, there is no further progress in average happiness as income increases. Eleven years later, Matthew Killingsworth, a senior fellow at the Wharton School of the University of Pennsylvania, found exactly the opposite: People with higher income reported higher levels of average happiness.

Persons: Daniel Kahneman, Kahneman, Angus Deaton, Deaton, Matthew Killingsworth Organizations: Princeton, Wharton School, University of Pennsylvania

☆ The Long, Strange Decline of One of America's Most Influential Brands
▼ + stars: | 2024-03-31 | by ( Amanda Chicago Lewis | ) www.businessinsider.com time to read: +39 min

What followed was hundreds of sequels and spinoffs, everything from "Chicken Soup for the Cat Lover's Soul" to "Chicken Soup for the Canadian Soul" to the bestseller I read cover to cover, several times, in sixth grade: "Chicken Soup for the Teenage Soul." By 2003, research found that more young readers seeking solace turned to the Chicken Soup series than to the Bible. What began as Chicken Soup for the Soul board games and calendars turned into Chicken Soup for the Soul chocolates and Chicken Soup for the Soul pet food. He pointed out that the cover of the original Chicken Soup book "ripped off" Campbell's Soup, to trigger "nourishing and comforting and warming" feelings. He started suggesting outrageous directions Chicken Soup could go in next: "The Chicken Soup pistol!

Persons: I'd, I've, who'd, John Wayne, Jack Canfield, Canfield, Oprah Winfrey, Tony Soprano's, Russ Kamalski, Laurel, Hardy, Tyler Le, Americus Reed, hadn't, he'd, Johnny Nunez, Getty, Clement Stone, Stone, Napoleon Hill's, Norman Vincent Peale's, Mark Victor Hansen, Hansen, Bennett Raglin, let's, Mark Twain, They're, they'd, Kamalski, Preteen's, Christian Woman's, Mother's, —, Wayne Booth, Booth, Barbara Ehrenreich, David Gray, Amy Poehler, Kenan Thompson's, Patty Aubery, I'm, I, blurbing, Bill Rouhana, Amy Newmark, Newmark, Rouhana, Winstar, Ashton Kutcher, Isaac Brekken, Kevin, Reddit, Chicken, Redbox, You've, We're, Kevin fumed, hicken, orth, ince, eason, rance, ike, osses, ives, ake Organizations: John, Hyatt Regency, Soul Entertainment, Nasdaq, Americus, Wharton, Hyatt, Harvard, Triple, Beverly, Hotel, Canfield, University of Chicago, Oklahoma State, Washington Post, Wall, Company, Connecticut —, NASCAR, Hollywood, Consumer Federation of America, CSSE, Hindenburg Research, Sony Pictures Television, GameStop, YouTube, Soup, ust, anfield Locations: Newport Beach , California, Indonesian, Crackle, Canfield, Nigeria, Japan, France, Ohio, West Virginia, Mali, New York, Anaheim, Florida, ,, Teacher's, Baltimore, China, Australian, Darfur, Southern California, Greenwich , Connecticut, Connecticut, Zillow, Canadian, Wells Fargo's, Redbox, ife

☆ The Long, Strange Decline of Iconic Chicken Soup for the Soul Brand
▼ + stars: | 2024-03-31 | by ( Amanda Chicago Lewis | ) www.businessinsider.com time to read: +39 min

What followed was hundreds of sequels and spinoffs, everything from "Chicken Soup for the Cat Lover's Soul" to "Chicken Soup for the Canadian Soul" to the bestseller I read cover to cover, several times, in sixth grade: "Chicken Soup for the Teenage Soul." What began as Chicken Soup for the Soul board games and calendars turned into Chicken Soup for the Soul chocolates and Chicken Soup for the Soul pet food. What began as Chicken Soup for the Soul board games and calendars turned into pet food, barbecue sauce, and — yes — soup. He pointed out that the cover of the original Chicken Soup book "ripped off" Campbell's Soup, to trigger "nourishing and comforting and warming" feelings. He started suggesting outrageous directions Chicken Soup could go in next: "The Chicken Soup pistol!

☆ Rents across the U.S. grew for the first time in 6 months — only Arizona saw price drops in every metro
▼ + stars: | 2024-03-28 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Rent prices for one- and two-bedroom apartments grew in March for the first time in six months. The monthly cost for a one-bedroom apartment across the U.S. bumped up to $1,487, a 0.3% increase from February. The price of a typical two-bedroom apartment also jumped 0.5% to $1,847, according to a new report by Zumper, a real estate data site. For example, the rent price for a one-bedroom apartment in Baltimore, Maryland, is $1,390, down 0.7% from a year ago, per Zumper. "As we get closer and closer to summer, we start to see rent prices increase in more places."

Persons: Zumper, Crystal Chen, Jacob Channel, Susan M Organizations: Zumper, Finance, The Wharton School, University of Pennsylvania Locations: U.S, Baltimore , Maryland, Zumper . Arizona

From 1985 to 2002, he worked at Goldman Sachs, one of the most storied — and criticized — investment banks on Wall Street. He famously swooped in to turn around the struggling IndyMac bank after its failure in the financial crisis of 2008. Earlier this month, Mnuchin jumped back into the headlines when his PE firm led a roughly $1 billion investment in embattled New York Community Bancorp. In 2009, OneWest Bank Group, where Mnuchin was chairman and CEO, bought the troubled IndyMac after federal regulators took over the bank. Mnuchin was Treasury secretary in 2020, when the Trump administration brokered a deal where Oracle and Walmart would take a large stake in TikTok.

Persons: Steven Mnuchin, Donald Trump’s, Goldman Sachs, Mnuchin, Max, Mnuchin's dealmaking, Robert Weissman, ” Weissman, Robert Rubin, Clinton, Weissman, couldn’t, NYCB, George Soros, John Paulson, OneWest, Kevin Kaiser, “, ” Kaiser, Maxine Waters, ”, Trump, doesn't, Chris Caulfield, ” Caulfield, ” ___ Rugaber Organizations: Trump, Public Citizen, Treasury, Treasury Department, Liberty Strategic Capital, Citizens, New York Community Bancorp, OneWest Bank Group, Federal, of Insurance Corp, FDIC, Wharton School, Oracle, Walmart, CNBC Locations: Wall, TikTok, Saudi Arabia, East, Washington, Congress, U.S, China, West Monroe, “

☆ Nvidia could be worth $6 trillion if it follows Cisco's dot-com trajectory, says Jeremy Siegel
▼ + stars: | 2024-03-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Nvidia stock could triple if it follows Cisco's path during the dot-com bubble, Jeremy Siegel said. AdvertisementNvidia could triple in value to become the world's first $6 trillion-plus company if it follows Cisco's trajectory during the dot-com bubble, Jeremy Siegel said. It's now worth $2.3 trillion, propelling it past Amazon and Alphabet and leaving only Microsoft ($3.1 trillion) and Apple ($2.7 trillion) ahead. "There could be 2-3x more upside in Nvidia if it follows Cisco's valuation path to its peak," Siegel said. Advertisement"Now we emphatically do not have 1999-2000 levels of speculation in the markets or tech," Siegel said.

Persons: Jeremy Siegel, Wharton, —, It's, Siegel, Wood Organizations: Apple, Microsoft, Service, Nvidia, Cisco, Federal Reserve Locations: —

☆ The biggest perk of gig work might also be its downfall
▼ + stars: | 2024-03-10 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

Many gig drivers lured by the flexibility of gig work say the flexibility of their job is often limited. AdvertisementMany drivers for Uber, Lyft, and other rideshare and delivery apps say they value the flexibility of gig work over any other component. AdvertisementMany part-time drivers have previously told BI they value gig driving for the ease with which they could supplement their core income. Some drivers told her they would work 16-hour overnight shifts on weekends to find higher-paying, better-tipped rides. "Uber and its peers appeal to workers with oodles of promises that workers can hold the power to control their work hours.

Persons: —, Uber, Sergio Avedian, Guy, Avedian, Lyft, Uber hasn't, Lindsey Cameron, Cameron, you've, Laura Katsnelson, Felix Oberholzer, Gee, Katsnelson, Katie Wells, Wells Organizations: Uber, Service, Business, Wharton School, Unit, Harvard Business School, Workers, Georgetown University Locations: Jacksonville , Florida, Los Angeles

☆ How the Canadian mortgage model could help unfreeze the housing market
▼ + stars: | 2024-03-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Read previewCopying the way mortgages work in countries such as Canada and the UK could help thaw the frozen US housing market, experts say. Prospective buyers are also balking at paying such high mortgage rates, especially when national home prices are near record levels, fueling an affordability crisis. AdvertisementOffering portable mortgages would enable hesitant sellers to keep their rock-bottom mortgage rates when they move, potentially boosting overall inventory and transaction volumes. She suggested the best fix for the frozen housing market will be if inflation cools, the Fed cuts interest rates, and mortgage rates fall to historical norms. Fannie Mae and Freddie Mac, the government-sponsored enterprises that direct the mortgage market, would have to be on board to make mortgage portability a reality, but that doesn't appear to be the case.

Persons: —, Julia Fonseca, Fonseca, Richard Martin, University of Georgia's Terry, Susan Wachter, Wachter, Fannie Mae, Freddie Mac Organizations: Service, Business, University of Illinois, University of Georgia's, University of Georgia's Terry College of Business, The Wharton School, Federal Reserve, Federal Housing Finance Agency, American Banker Locations: Canada, University of Illinois Urbana, Champaign, conservatorship

☆ Many single parents who drive for apps like Uber and Lyft say it's their best option — but they still can't pay their bills
▼ + stars: | 2024-03-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +12 min

AdvertisementFlexibility can be an illusionMost single parents with whom BI spoke said they valued the flexibility gig work gives them. Some single parents with disabilities said being able to take days off has helped them stay healthier and avoid burnout. This means that a higher percentage of single parents' earnings goes toward childcare costs, pushing some away from using childcare entirely. "These fluctuations and discrepancies can be devastating to individuals who don't have other mechanisms to make money, including single parents who are often operating on a single income," Greening said. AdvertisementIt's not easy for parents with older childrenThe issues single parents face still linger for those with older children.

Persons: Bri, Uber, Dara Khosrowshahi, Lyft, Uber hasn't, Susan, she's, Lindsey Cameron, Cameron, Cindy Lehnhoff, Lehnhoff, Bryant Greening, Greening, Starla, She's, Genesis, Paul, he's, It's humbling Organizations: Service, DoorDash, Walmart, Business, Wharton School, National Child Care Association, BI, Uber, Security Disability Insurance, Arizona State University Locations: Fort Worth , Texas, Grubhub, bam, Ohio, Jacksonville , Florida, Atlanta, Las Vegas

☆ 52% of Black Americans say homeownership is a mark of success, report finds. But it can conflict with other goals
▼ + stars: | 2024-02-21 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Maskot | Digitalvision | Getty Images'Homeownership has a lot more expenses than renting'"Homeownership has a lot more expenses than renting: taxes, insurance, maintenance, down payment. All these factors need to be considered," said Cherry, a member of CNBC's Financial Advisor Council. "Understand what it is to be a homeowner and how things work," said Elliott, also a member of CNBC's Financial Advisor Council. "The cost of homeownership versus renting has been made [it] daunting to become a homeowner. "At the end of the day, what good is being a homeowner when you can't provide basic necessities for yourself and your loved ones?"

Persons: Cherry, Kamila Elliott, Elliott, Susan M, Wachter, Preston D, Jacob Channel Organizations: Digitalvision, Getty, CNBC's, CFP, Wealth Partners, CNBC, Council, The Wharton School, University of Pennsylvania, Cherry Locations: Atlanta, U.S

☆ Using this 1 word more often can make you 50% more influential, says Harvard study
▼ + stars: | 2024-02-15 | by ( Megan Sauer | ) www.cnbc.com time to read: +1 min

Berger points to nearly a 50-year-old study from Harvard University, wherein researchers sat in a university library and waited for someone to use the copy machine. They phrased their request in three different ways:"May I use the Xerox machine?" "May I use the Xerox machine because I have to make copies?" "May I use the Xerox machine because I'm in a rush?" "Persuasion wasn't driven by the reason itself," Berger wrote in a book on the topic, "Magic Words," which published last year.

Persons: Jonah Berger, Berger, — Organizations: Wharton School, University of Pennsylvania, CNBC, Harvard University, Xerox

☆ Remote Employees Are More Likely to Get Laid Off; WFH Is Risky
▼ + stars: | 2024-02-15 | by ( Emily Stewart | ) www.businessinsider.com time to read: +7 min

Executives at the online furniture retailer Wayfair told its staff in January that remote workers were likelier to be hit in its latest round of job cuts. Add in long-term trends, like the decline in loyalty between employers and employees , and it's no wonder remote workers feel anxious about cuts. “It’s not too surprising,” Peter Cappelli, a management professor at the Wharton School who has never been a big fan of remote work, said. “That is something remote workers should be thinking about as they’re engaging with supervisors,” she said. Remote workers aren’t doomed to the unemployment line, but they may want to try a little extra to get noticed.

Persons: Wayfair, ”, Dell, Goldman Sachs, “ It’s, ” Peter Cappelli, “, Nick Bloom, ” Bloom, Emily Dickens, ” Prithwiraj Choudhury, ” Joseph Fuller, pang, Emily Stewart Organizations: IBM, Reuters, Google, Wharton School, Stanford, Society for Human Resource Management, Harvard Business School, Employers, Workers, “ Workers, Staff, Business

☆ Starboard Value’s Jeffrey Smith firms up activist bet on GoDaddy, trims winning Salesforce stake
▼ + stars: | 2024-02-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Starboard Value's Jeff Smith added to his GoDaddy holding while trimming his lucrative activist bet in Salesforce , according to a new regulatory filing. The hedge fund increased its stake in GoDaddy to nearly $925 million, making the web services company its biggest holding. Starboard continued to trim its stake in customer relations management software company Salesforce , which in 2022, he took an activist stake in. The filing also reveals a few new stakes for Starboard, including News Corp and Fortrea . CNBC had already reported on these stakes when Smith appeared at a conference in last year.

Persons: Jeff Smith, Smith, He's Organizations: Wharton, News Corp, Fortrea, CNBC Locations: Salesforce, GoDaddy, New York

☆ Here's a ‘really simple’ way to change people’s minds, says Wharton persuasion expert: It makes people 30% likelier to say yes
▼ + stars: | 2024-02-08 | by ( Megan Sauer | ) www.cnbc.com time to read: +1 min

Asking someone for help can feel like a burdensome request. Asking for a helper tells the other person that you respect their expertise, flattering them into agreement. That's just one example of turning "options into identities," says Jonah Berger, a marketing professor at the Wharton School of the University of Pennsylvania. "Framing actions as opportunities to claim desired identities will make people more likely to do them," Berger tells CNBC Make It. "If voting becomes an opportunity to show myself and others that I am voter, I'm more likely to do it."

Persons: Jonah Berger, Berger, I'm Organizations: Wharton School, University of Pennsylvania, CNBC Locations: That's, It's

☆ Rental markets are cooling, but it 'doesn't mean they're falling,' Harvard researcher says. Here's what that means for renters
▼ + stars: | 2024-02-01 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Recep-bg | E+ | Getty ImagesRent costs are beginning come down after record-high asking prices. "Rental markets are cooling, but in a lot of places, it doesn't mean they're falling. It means they're growing at a slower pace," said Whitney Airgood-Obrycki, senior research associate focused on affordable housing at the Joint Center for Housing Studies of Harvard University. Prices are beginning to come down as supply boosts vacancy and demand slows from record highs in 2022. Increasing the supply of higher-rent Class A units often encourages tenants to upgrade to new units, making prices in those units level out and boosting vacancy in Class B and C units, Airgood-Obrycki said.

Persons: Whitney Airgood, Susan M, Wachter, Obrycki Organizations: Joint Center for Housing Studies of Harvard University, Prices, Finance, Wharton School, University of Pennsylvania Locations: Here’s, Airgood

☆ Should you pay rent with a credit card? 'It could rapidly spiral,' expert warns
▼ + stars: | 2024-01-30 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Housing is typically one of the biggest expenses in someone's budget, and it's natural to wonder about the best way to pay that bill. For renters, sometimes it's possible to pay with a credit card. While you could earn rewards and build credit by doing so, experts say it's typically not a smart move. They simply "may not want the hassle," said Matt Schulz, senior credit analyst at LendingTree. Here are three things to consider before you charge your rent payment to a credit card.

Persons: Susan M, Matt Schulz Organizations: Wharton School, University of Pennsylvania, Finance, LendingTree

☆ Moneyball-Plus: What Happens When Investors Treat Athletes Like Startups
▼ + stars: | 2024-01-28 | by ( Joseph Bien-Kahn | ) www.businessinsider.com time to read: +27 min

What if athletes could sell a percentage of their future earnings to investors, the same way tech entrepreneurs offer a stake in their promising new ideas in return for venture capital? "We look at the game very, very differently than everyone else," Schwimer tells the pitcher. Finlete is launching a fund that allows fans to buy shares in a prospect's future earnings. What if you could sell a share of your future earnings, he asked, for $10,000? Today, he says, more than 80% of the players BLA has invested in are outside the league's top 300 prospects.

Persons: They're, Michael Schwimer, —, Schwimer, BLA, haven't, Fernando Tatis Jr, We've, it's, Daniil, David Liberman, Garrett Broshuis, he'd, He'd, Houdini, Christian Petersen, Erik Kratz, Kratz, Cole Hamels, Hamels, Sean M, Marvin Bush, George W, Bush, Paul DePodesta, bankroll BLA's, Bill Miller, Miller, HBO's, Michael, Jeff Bezos, Bezos, I'd, I'm, Steven Duncker, Goldman Sachs, Elly De La Cruz, Dylan Buell, phenom, Scott Boras, Yermín Mercedes, Francisco Mejía, countersue Mejia, Gervon Dexter, they're, Dexter, Wharton, He's, he'll, isn't, scoffing, he's Organizations: Philadelphia Phillies, Big League, San Diego Padres, Benchmark Capital, Sports, Wharton Sports Business, MLB, University of Virginia, Partners, Phillies, Getty, AAA, Arizona Fall League, Ritz Carlton, Cleveland Browns, Dodgers, Cleveland Indians, Big League Advance, Chicago Bears, University of Florida, Huntsman, NCAA Locations: Maryland, Philadelphia, United States, baseball's, Latin America, America, Dominican Republic, Cleveland, Florida

☆ Opinion | A.I. Should Be a Tool, Not a Curse, for the Future of Work
▼ + stars: | 2024-01-24 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

Folding clothes and wiring a new home were two of the tasks they were asked to think about. The date of 2047 for the 50 percent chance is 13 years earlier than researchers were estimating in a survey conducted one year earlier. It’s still possible for the human race to direct A.I. Gardeners use hoes and rakes rather than clawing the soil with their bare hands, right? Artificial intelligence can be the hoes and rakes of the 21st century.

Persons: ”, Ethan Mollick, “ America’s Organizations: Wharton School, University of Pennsylvania, Gardeners

☆ Diamonds Made With Solar Power Are Offering Fiancées Ethical Fashion
▼ + stars: | 2024-01-13 | by ( Yusuf Khan | ) www.wsj.com time to read: +8 min

“She really did not want a natural diamond because of the child labor [concerns],” said Henshall. A lab-grown diamond made with solar power. Made largely in China and India, lab-grown diamonds are produced using heat and pressure but without any mining. Three years later the former retail executive started selling lab-grown diamonds produced in a solar-powered factory in Gujarat, India. The volume and quality can vary but is a good barometer of appetite for natural diamonds, as well as prices.

Persons: Peter Henshall, Tasha Mawdsley, Tasha, ”, Henshall, “, Peter aren’t, Paul Zimnisky, Pandora, Laura Lambert, Fenton, “ It’s, We’ve, ” Lambert, ” Beth Gerstein, David Kellie, De Beers, De, Lightbox, LVMH, Cartier, Richemont, Kyle Grant, Grant, it’s, Yusuf Khan Organizations: Natural Diamond, Business, First Insight, Baker Retailing, Wharton School, University of Pennsylvania, Diamond Exchange, Miners, De Beers, yusuf.khan@wsj.com Corrections, Amplifications Locations: Ibiza, China, India, Danish, London, Gujarat, U.S, Amplifications Danish

☆ Collapsed US money supply is a threat to employment, growth, and inflation, Wharton professor Jeremy Siegel says
▼ + stars: | 2023-12-04 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

US money supply has seen its longest stagnation since World War II, according to Jeremy Siegel. "You can't really have a growing economy when the M2 money supply is decreasing," Siegel told CNBC. AdvertisementThe US money supply is flashing a major warning to the US economy, according to Wharton professor Jeremy Siegel. Money supply then rebounded through the summer, but has recently returned to its decline, nearing April's low. Advertisement"You can't really have a growing economy when the M2 money supply is decreasing," he warned.

Persons: Jeremy Siegel, Wharton, Siegel, — Organizations: CNBC, Service, Federal Reserve, Federal, Atlanta

☆ Senate committee investigating Florida’s state-backed home insurance company as private insurers flee
▼ + stars: | 2023-11-30 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

CNN —The US Senate Budget Committee is launching an investigation into whether Florida’s state-backed home and property insurance company has enough money in the bank to withstand future disasters, as scientists warn warming oceans and sea level rise are making storms more destructive. Citizens Property Insurance Corporation exists as a so-called insurer of last resort - if owners cannot convince a private insurance company to cover their property, Citizens will step in. If that were to happen, the Senate Budget Committee is worried Florida might turn to the federal government looking for a bailout, Whitehouse said. State insurers of last resort were originally intended as a stopgap for consumers, ensuring their coverage wouldn’t be interrupted. Florida isn’t alone; some major private insurers have either pulled out or stopped writing new policies in wildfire-prone California.

Persons: Ron DeSantis, “, Sen, Sheldon Whitehouse, ” Whitehouse, Michael Peltier, Whitehouse, ”, Benjamin Keys, ” Keys, ’, Keys, “ It’s Organizations: CNN, Citizens Property Insurance Corporation, Republican Gov, Citizens, Democrat, ”, Munich Re, Swiss, Wharton School, University of Pennsylvania, Senate, FAIR, Florida’s Citizens, Budget Locations: After Florida, Rhode Island, Florida, Miami, Tampa, “ Florida, Munich, riskiest, California

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