My end-of-week morning train WFH reads:
• The United States Is Southern Now: From booming metros to culture-defining exports, the South has quietly become a demographic powerhouse and a battleground for the country’s identity. (Businessweek)
• The Trillion-Dollar AI Bubble Nobody Sees Coming: A single Chinese startup just proved that the emperor has no clothes in Silicon Valley’s AI king… (Technobezz) see also Are we in an AI bubble that’s getting ready to pop? The promised AI revolution isn’t here yet. But it’s a smart bet that productivity gains will follow. (Washington Post)
• American Businesses in ‘Survival Mode’ as Trump Tariffs Pile Up: A 90-day pause on additional tariffs on China offers no relief to American companies already facing extraordinarily high import taxes imposed by President Trump. (New York Times)
• How Quantum Computing Could Upend Bitcoin: Hackers stand to gain “a superpower.” Will the crypto industry be ready? (Barron’s)
• Gamblers Now Bet on AI Models Like Racehorses: Prediction platforms are turning the AI arms race into a high-stakes game. (Wall Street Journal)
• Our 10 essential summer podcasts: Today’s political, economic, and social landscape is especially complex. Keeping up with the constant stream of news can be tricky, especially in summer. That’s why we’ve put together a selection – by no means exhaustive – of podcasts, covering economics, finance, and beyond. Each offers valuable insights that help make sense of the present – and perhaps imagine the future. Here are 10 podcasts our team recommends. (Moneyfarm)
• How Pickleball Explains American Culture: In 2019, pickleball was half as popular as badminton. Last year, it was more popular than baseball. What does its rise tell us about fads, fitness, and culture? (Derek Thompson)
• I witnessed Operation Warp Speed. Trump’s refusal to defend it is baffling. The president deserves an NIH director who champions science rather than dangerous nonsense. (Washington Post)
• 19 Facts Worth Knowing About George Orwell: “George Orwell” isn’t George Orwell’s real name. That would be Eric Arthur Blair. He took on the pen name in 1933, when he published his first full-length book, “Down and Out in Paris and London.” (Behavioral Scientist)
• Steve Buscemi Is Glad He Took That Leap: Born on the unluckiest of days, the 67-year-old has built an enviable roster of affable malcontents. With his debut on Season 2 of “Wednesday,” he adds to his legend. (New York Times)
Be sure to check out our Masters in Business next week with Ellen Zentner, Chief Economic Strategist and Global Head of Thematic and Macro Investing for Morgan Stanley Wealth Management. The firm manages over $7 trillion in assets.
Why Has Consumer Spending Remained So Resilient? Evidence from Credit Card Data
Source: Federal Reserve Bank of Boston
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