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News
Why Are We So Gloomy?
Do you believe that the world is coming to an end? If so, you are not alone. In 2021, researchers at the University of Bath polled 10,000 young people between the ages of 16 and 25 in Australia, Brazil, Finland, France, Great Britain, India, Nigeria, the Philippines, Portugal, and the United States. The researchers found that, on average, 83 percent of respondents thought that “people have failed to care for the planet.” Seventy-five percent thought that the “future is frightening.” Fifty-six percent thought that “humanity is doomed.” Fifty-five percent thought that they will have “less opportunity than [their] parents.” Finally, 39 percent stated that they were “hesitant to have children.”
America's Family Secret
A chiseled block of sandstone in the U.S. Capitol’s visitor center serves as a reminder that the home of the nation’s Congress was built in part by enslaved Black people. A bronze plaque says the stone, originally part of the building’s exterior, “commemorates their important role in building the Capitol.” Many lawmakers need look no further than their own family histories to find a much more personal connection to slavery in America, a brutal system of oppression that resulted in the deadliest conflict in U.S. history.
Treasury Bill Barrage Is Just a Prelude to Longer-Term Debt Deluge
The barrage of fresh Treasury bills poised to hit the market over the next few months is merely a prelude of what’s yet to come: a wave of longer-term debt sales that’s seen driving bond yields even higher. Sales of government notes and bonds are set to begin rising in August, with net new issuance estimated to top $1 trillion in 2023 and nearly double next year to fund a widening deficit. The Treasury is already in the middle of an estimated $1 trillion bump in bills as it seeks to replenish its cash coffers in the wake of the debt-limit deal.
Ford Gets $9.2 Billion to Help US Catch Up With China’s EV Dominance
A deep-pocketed US government program designed to finance futuristic energy businesses is issuing a conditional $9.2 billion loan to Ford Motor Co. for the construction of three battery factories. The enormous loan — by far the biggest government backing for a US automaker since the bailouts in the 2009 financial crisis — marks a watershed moment for President Joe Biden’s aggressive industrial policy meant to help American manufacturers catch up to China in green technologies.