Core Viewpoint - The article highlights the alarming reality of homelessness in the U.S., particularly in California, where many individuals who once owned homes have found themselves living on the streets due to the burdens of property taxes and other financial pressures [3][9]. Group 1: Homelessness Statistics - Over 650,000 people are homeless in the U.S., with nearly 180,000 in California, accounting for about one-third of the national total [3][5]. - In Los Angeles, 23% of the homeless population lost stable housing within a year despite previously having stable jobs and homes [9]. Group 2: Property Tax Burden - Property taxes in the U.S. range from 1% to 1.5% annually, which can become a significant financial burden as property values increase [3][5]. - In 2023, the average home price in San Francisco was $1.44 million, leading to an annual property tax of approximately $18,000 at a 1.25% tax rate [5]. Group 3: Financial Pressures Beyond Property Taxes - Homeowners also face additional costs such as homeowners association fees, maintenance expenses, and high medical costs, with average annual medical spending exceeding $20,000 for American families [7]. - Rising mortgage interest rates, which reached over 7% for 30-year loans, further exacerbate financial strain on homeowners [7]. Group 4: Systemic Issues - The U.S. property tax system effectively transforms homeownership into a continuous financial obligation, where individuals must constantly pay to maintain their housing status [9][13]. - Many individuals, including those who once had stable lives, find themselves unable to cope with the cumulative financial pressures, leading to a cycle of debt and eventual homelessness [7][11].

Group 1: Immigrant Billionaires in the U.S. - The number of immigrant billionaires in the U.S. has increased from 92 in 2022 to 125 in 2025, representing a growth of over one-third [2] - Immigrant billionaires account for 14% of nearly 900 billionaires in the U.S., with a total wealth of $1.3 trillion, which is 18% of the total wealth of $7.2 trillion held by all U.S. billionaires [2] - Among the top ten billionaires globally, three are immigrants, including Elon Musk, who is the richest with a net worth of $393.1 billion [3][4] Group 2: Notable Immigrant Billionaires - Elon Musk, born in South Africa, has a net worth of $393.1 billion, having increased by $17 billion since 2022 [4][15] - Sergey Brin, co-founder of Google, is the second richest immigrant with a net worth of $139.7 billion [4][15] - Jensen Huang, co-founder and CEO of Nvidia, ranks third among immigrant billionaires with a net worth of $137.9 billion [5][15] Group 3: Contributions and Perspectives of Immigrant Billionaires - Maky Zanganeh, an immigrant from Iran, emphasizes the importance of seeking opportunities while maintaining core values, which she believes is crucial for success in business [7][8] - Oren Zeev, an Israeli venture capitalist, attributes his success to his unique background, allowing him to think differently from his peers [10] - Noubar Afeyan, co-founder of Moderna, highlights the "immigrant mindset" as essential for achieving success in America, advocating for resilience and hard work [13][14]

Group 1 - The article contrasts the American Dream as represented by Forrest Gump and Warren Buffett, highlighting the different paths to success for blue-collar and white-collar workers [1][3] - Buffett's retirement marks the end of an era for American capitalism, which has thrived for 70 years, paralleling the nation's economic journey [4][5] - The article discusses the dual nature of American capitalism, dividing it into the "Cathedral" (representing prosperity) and the "Casino" (representing risk and speculation) [7][10] Group 2 - The "Cathedral" symbolizes the dollar's global purchasing power, while the "Casino" encompasses various markets where investors gamble with their capital [8][9] - The interdependence of the Cathedral and Casino is crucial, with the former being the foundation for the latter's existence [10] - Buffett advocates for continued trade and prosperity, emphasizing that global prosperity benefits the U.S. economy [11] Group 3 - Dalio predicts a historic transformation in the global order, likening it to the changes of the 1930s, with significant implications for monetary, domestic, and international systems [12] - The U.S. national debt has reached alarming levels, exceeding 122% of the economy, raising concerns about sustainability [13][22] - Dalio warns that the U.S. must reduce its deficit to below 3% to avoid a potential economic crisis, while current policies may push it to 7.5% [20] Group 4 - The article highlights the growing political and social divisions in the U.S., which Dalio describes as akin to a civil war, threatening the stability that has historically attracted talent and investment [25][30] - The decline of the middle class due to manufacturing job losses and automation exacerbates wealth and opportunity gaps, leading to political fragmentation [31][30] Group 5 - The article discusses the challenges of globalization for U.S. capitalism, as other nations seek to prioritize their national interests, potentially disrupting supply chains [32][33] - The trade war with China is framed as a strategy to bring manufacturing back to the U.S., but the complexities of global supply chains make this difficult [34][39] - Japan and Europe are exploring ways to assert their financial independence from the U.S., indicating a shift in the global economic landscape [40][41][42] Group 6 - Buffett's recent actions, including significant stock sell-offs and increased cash reserves, suggest a cautious outlook on the future of American capitalism [46] - Dalio emphasizes the need for investors to consider inflation-resistant assets and maintain liquidity in light of geopolitical risks [47]

Core Insights - The American dream of owning a large house with a white picket fence is fading for many, yet 379,000 new millionaires emerged in the U.S. last year, indicating a shift in wealth accumulation [1][2]. Group 1: Millionaire Growth - According to UBS, over 1,000 new millionaires are created daily in the U.S., with the ultra-high-net-worth population growing by 1.5% [2]. - The U.S. has the highest number of millionaires globally, four times that of China, and surpasses the combined total of millionaires in France, the UK, Germany, Canada, Japan, and Australia [3]. Group 2: Wealth Composition - The surge in millionaire numbers is primarily driven by real estate appreciation, alongside record performance in the stock market [4]. - The "middle-class millionaire" segment, defined as those with assets between $1 million and $5 million, is becoming the main growth driver, holding a total wealth of approximately $107 trillion, which is over four times that of the early 2000s [5]. - In the U.S., real estate and mortgages account for 30% of wealth, while securities and financial instruments make up 37%, highlighting the effectiveness of investment strategies [5]. Group 3: Future Wealth Transfer - An estimated $83 trillion in wealth will be transferred globally over the next 20 to 25 years, with $74 trillion expected to be passed down through generations, suggesting a continued rise in new millionaires [6]. Group 4: Economic Disparities - Despite the increase in millionaires, many Americans face economic challenges, with the top 20% of households holding an average net worth of $4.3 million, representing 71% of national wealth, while the bottom 50% average only $60,000 [7]. - Ordinary Americans are accumulating wealth through insurance and retirement plans, although younger generations have yet to fully embrace these methods [7]. Group 5: Real Estate Investment Advice - Real estate mogul Barbara Corcoran advises potential investors to act quickly in the current market, suggesting that a decrease in interest rates could lead to a surge in property prices [7].

Core Viewpoint - The article discusses the drastic changes in the perception and reality of studying in the United States for Chinese students, highlighting a significant decline in student visa numbers and the challenges faced by those who remain in the U.S. [3][4][8] Group 1: Decline in Chinese Students in the U.S. - As of March this year, the number of Chinese student visas has dropped by 42.5% year-on-year, returning to levels seen a decade ago [4]. - Many students are leaving the U.S. due to a combination of disillusionment and sudden policy changes, with some feeling relieved to return home [3][5]. Group 2: Changing Perceptions of the American Dream - The once idealized view of the U.S. as a land of opportunity has shifted, with students now facing discrimination and job scarcity [8][9]. - The financial burden of studying in the U.S. has increased, with average costs for undergraduate education reaching over 1 million CNY for four years [17][18]. Group 3: Challenges Faced by International Students - International students report difficulties in integrating into American culture, with language barriers and social exclusion being common experiences [21][24][25]. - The political climate, particularly under Trump's administration, has led to increased scrutiny and anxiety among international students regarding their visa status [26][29][31]. Group 4: Employment and Visa Uncertainty - The process of obtaining work visas such as H-1B is fraught with uncertainty, with only a 1 in 3 chance of being selected in the lottery, and Chinese applicants facing even lower odds [39]. - Many students are struggling to secure employment that offers visa sponsorship, leading to a sense of instability and fear of returning to their home country without a degree [36][42][44]. Group 5: Economic and Social Implications - The article highlights the growing trend of students from middle-class families pursuing education abroad, indicating a shift towards a more widespread aspiration for the "American Dream" [18]. - The narrative concludes with a sense of nostalgia for a time when the U.S. was seen as a beacon of hope, contrasting it with the current challenges faced by international students [46][49].

Core Viewpoint - The article discusses the drastic changes in the perception and reality of studying in the United States for Chinese students, highlighting a significant decline in student visa numbers and the challenges faced by those who remain [3][8][10]. Group 1: Visa and Enrollment Trends - As of March this year, the number of Chinese student visas has plummeted by 42.5% year-on-year, returning to levels seen a decade ago [8]. - Many Chinese students are leaving the U.S., with reports indicating that half of a group of students have already "escaped" [7]. Group 2: Financial Burden of Studying in the U.S. - The average cost of studying in the U.S. is around 1 million CNY, with tuition fees for public universities ranging from 40,000 to 62,000 USD per year and private universities costing between 54,000 to 85,000 USD [30][76]. - The total cost for a four-year undergraduate program can reach between 1.04 million to 2.21 million CNY [30]. Group 3: Employment Challenges - Chinese students face significant difficulties in securing employment, with many unable to find jobs and living under the threat of discrimination and expulsion [10][66]. - The probability of obtaining an H-1B visa is only 1 in 3, with Chinese applicants making up just 11.7% of successful applicants, compared to 72.3% for Indian applicants [64]. Group 4: Changing Perceptions of the American Dream - The article reflects on how the American Dream has become less attainable, with many students feeling disillusioned as opportunities diminish and costs rise [74][77]. - The narrative of the U.S. as a land of opportunity is contrasted with the current reality where many students struggle to find jobs and face increasing financial pressures [10][75].

Core Viewpoint - The article discusses the drastic changes in the perception and reality of studying in the United States for Chinese students, highlighting a significant decline in student visa numbers and the challenges faced by those who remain in the U.S. [4][8][41] Group 1: Visa and Enrollment Trends - As of March this year, the number of Chinese student visas has plummeted by 42.5% year-on-year, returning to levels seen a decade ago [4]. - Many Chinese students are choosing to leave the U.S., with reports indicating that half of a group of students have already "escaped" [4][41]. Group 2: Changing Perceptions of the American Dream - The once-promising image of the U.S. as a land of opportunity for students has shifted, with many now feeling marginalized and facing discrimination [8][41]. - The article reflects on the generational differences in perceptions of the U.S., with older generations still holding onto the "American Dream" while younger students are more skeptical [11][41]. Group 3: Financial Burden of Studying in the U.S. - The average cost of studying in the U.S. for Chinese students is around 1 million CNY, with expenses including tuition, living costs, and other fees [17][18]. - The financial strain is exacerbated by the increasing difficulty in securing stable employment post-graduation, leading to a sense of hopelessness among many students [41]. Group 4: Employment Challenges - The job market for international students has become increasingly competitive, with many facing difficulties in obtaining work visas and job offers [35][38]. - The approval rate for H-1B visas for Chinese applicants is significantly lower compared to Indian applicants, creating additional barriers for Chinese graduates [38]. Group 5: Cultural and Social Integration Issues - Many Chinese students report feeling isolated and struggling to integrate into American society, facing both language barriers and cultural differences [24][27]. - Experiences of discrimination and exclusion are common, with students feeling that they are not seen as equals by their peers [26][39].

Group 1 - The article discusses the drastic shift in the U.S. stance towards international students, particularly from China, highlighting a significant drop in student visa numbers by 42.5% year-on-year as of March this year, returning to levels seen a decade ago [7][8][66] - The narrative reflects the changing perceptions of the U.S. as a land of opportunity, with many students feeling marginalized and facing discrimination, leading to a sense of disillusionment [8][66] - The financial burden of studying in the U.S. is emphasized, with average costs for undergraduate education reaching up to 1 million CNY over four years, making it a significant investment for families [25][66] Group 2 - The article notes that the number of Chinese students pursuing education in the U.S. has decreased, with many choosing to return home due to the uncertain political climate and job market [7][49][66] - It highlights the challenges faced by students in securing employment post-graduation, with a low acceptance rate for H-1B visas, particularly for Chinese applicants, who accounted for only 11.7% of approvals in the 2023 fiscal year [58][66] - The rising costs of education, coupled with a competitive job market, have made the prospect of returning on investment from studying in the U.S. increasingly difficult, with many students feeling trapped in a cycle of uncertainty [66][68]

Core Viewpoint - The article discusses the changing perception of the "American Dream," particularly regarding the value of the U.S. green card, which is increasingly seen as less desirable due to rising costs and uncertainties in immigration policies [2][40][55]. Group 1: The Experience of Green Card Holders - "Run Card" individuals are those who hold a U.S. green card but do not live in the U.S. long-term, often due to personal or professional reasons [6][7]. - Maintaining a green card requires periodic trips to the U.S. to demonstrate residency intent, which can be financially and emotionally taxing [15][36]. - The costs associated with maintaining a green card, including travel, accommodation, and other expenses, can easily exceed 100,000 RMB per trip, especially in major cities [28][29]. Group 2: Challenges and Costs - The process of maintaining a green card involves significant financial outlay, including travel expenses and the need to file taxes in the U.S., regardless of where the individual resides [33][34]. - The emotional and physical toll of frequent travel, including time zone adjustments and the stress of adapting to different environments, adds to the burden of "Run Card" individuals [37][38]. - The uncertainty surrounding U.S. immigration policies under the current administration has led many to reconsider the value of their green card status [49][52]. Group 3: Changing Attitudes Towards Immigration - The perception of the green card has shifted, with many individuals questioning whether the effort and expense of maintaining it are worth it in light of current U.S. socio-political conditions [40][48]. - Rising costs in education, housing, and healthcare in the U.S. have diminished the appeal of the green card for many, as these factors were previously significant motivators for immigration [56][60]. - A broader global economic downturn has led to a shift in priorities, with individuals focusing more on immediate stability rather than long-term immigration goals [62][64].

Group 1 - Renowned director Ang Lee will direct a new film titled "Old Gold Mountain," adapted from the novel "How Much of These Hills Is Gold" by Chinese-American author C Pam Zhang [1] - "Old Gold Mountain" is set to begin filming in August this year in California, with Emmanuel Lubezki, a three-time Oscar-winning cinematographer, serving as the director of photography [1] - "How Much of These Hills Is Gold" is Zhang's debut novel, which was shortlisted for the 2020 Booker Prize and the Hemingway Foundation/PEN Award, focusing on the survival struggles of a Chinese immigrant family during the Gold Rush [1][9] Group 2 - C Pam Zhang was born in Beijing in 1990 and moved to the United States at the age of four, experiencing a childhood marked by frequent relocations [2][6] - The simplified Chinese version of "How Much of These Hills Is Gold" will be published by Shanghai Translation Publishing House in April 2024 [3] - Zhang's writing reflects her immigrant experience and the search for belonging, often exploring themes of identity and the immigrant narrative in her works [17][18] Group 3 - The novel begins with the line, "Dad died at night, and for this, they had to find two silver coins," depicting the journey of two orphaned siblings in the American West [10] - Zhang's narrative style incorporates elements of her family's language, blending English with Pinyin to capture the immigrant experience authentically [38] - The book draws parallels between the historical Gold Rush and the modern tech industry, highlighting the inequalities and false promises of the American Dream [36][37]