RT Bloomberg New Economy (@BBGNewEconomy)"There's a rising view of inequality right around the world. That's leading to more populist policy, more intervention in markets," Future Fund CEO Raphael Arndt #BloombergNewEconomy⏯️ https://t.co/J5lCJTamOX https://t.co/J3nj3WmgTl ...

It may widen inequality. But it has many advantages https://t.co/pP9tFSh5IW ...

Economic Overview - The concept of a K-shaped economy gained prominence in 2020, characterized by diverging economic fortunes [1] - High-income earners and those with wealth prospered, benefiting from a rising stock market and remote work opportunities [2] - Conversely, those without stocks or home ownership faced challenges, with unemployment remaining above 6% at the end of 2020 [2] - By 2025, the K-shaped dynamic reemerged, with consumer spending slowing among lower-income individuals while wealthier individuals continued to benefit from stock market performance [3][4] Inequality and Economic Impact - A K-shaped economy reflects economic inequality, which, while inherent in a capitalistic system, can lead to slower growth and social unrest when it becomes too wide [4][5]

Let's bring in CNBC senior contributor Ron Insana for more on this. Ron Musk is already the world's richest man. >> $500 billion.>> Now he could soon become the first trillionaire. Just how unprecedented is this compensation package. >> Well, we've never seen anything like it on it.And and if you look at, you know, what it means if he were to achieve the goals, which are quite lofty, by the way, the market value of Tesla would have to reach $8.5% trillion for him to get the trillion dollars additional. >> S ...

Economic and Market Overview - The global market pullback has been influenced by warnings from Wall Street CEOs, with Bitcoin entering bear market territory and ether erasing its year-to-date gains [2] - The U.S. government shutdown has reached a record length of 36 days, but indications suggest a potential resolution may be near [2] Political Developments - Zohran Mamdani, a Democratic socialist, is set to become the mayor of New York City after defeating Andrew Cuomo in the Democratic primaries, with Cuomo now running as an independent [3] - Mamdani's economic platform focuses on affordability and inequality, proposing a rent freeze, affordable housing, and a $30 minimum wage by 2030, funded by increased corporate taxes and higher rates for high-income individuals [4] Financial Industry Reactions - Notable figures from the financial industry opposed Mamdani's election, warning of risks related to capital flight and a deteriorating business environment, but some are now willing to collaborate with him [4] - Mamdani lacks the authority to regulate financial institutions or raise corporate taxes, which are determined at the federal and state levels, but he can influence city spending away from Wall Street interests [4] Company-Specific News - UPS experienced a cargo plane crash shortly after takeoff from Louisville [5] - Novo Nordisk has accepted a U.S. Medicare deal for obesity drugs [5] - Pinterest's stock has declined due to an outlook that overshadows user growth [5] - AMD's stock slipped despite beating estimates in results and guidance [5] - IBM plans to lay off a 'single-digit percentage' of its workforce in Q4 [5] Market Performance - In Asia, Japan's market fell by 2.5%, while Hong Kong decreased by 0.1%, and China saw a slight increase of 0.2% [6] - European markets showed mixed results, with London flat, Paris down by 0.3%, and Frankfurt down by 0.7% [6] - Futures indicate a flat Dow, a 0.2% decrease in S&P, and a 0.4% decrease in Nasdaq, with crude oil prices rising by 0.3% to $60.73 [6]

[Music] I'm going to start off by asking us some questions that I want us to reflect on and stay with it while I do my session. Have we ever had to learn in the same classroom with somebody living with disability. Have we ever had that one classmate that always repeated every class. [Music] Have we always had that classmate that when it is time for us to get our results, we already know the person that will carry the class and we know the person that will have all the awards.If you have all those answers, p ...

Global Poverty and Inequality - The speech addresses the pervasive issue of poverty and inequality, highlighting that it's not just about statistics but about real people and their limited choices [2] - It emphasizes that 10% of the world's population lives under $2 a day, which is the global standard for extreme poverty [5] - Poverty is defined not only as a lack of money but also as a lack of access, opportunity, and a functional support system [7] - Inequality is portrayed as a systemic issue, built into the structures that govern the world, affecting access to education, job opportunities, and overall life chances [7][8] - The speech provides examples of inequality in different regions, including rural Kenya, the United States, India, and Latin America, showcasing its global reach [9][10][11] Potential Solutions and Hope - The speech highlights examples of positive change, such as cash transfers in Colombia, healthcare expansion in Rwanda, and the rise of microfinance in India, demonstrating that progress is possible [12][13] - It argues that reducing inequality leads to faster economic growth and societal flourishing, emphasizing the economic benefits of addressing inequality [14] - The speech encourages individuals to educate themselves, support organizations making a difference, use their voices to challenge the system, and not accept inequality [14][15] - It concludes with a call to action to build a world where everyone has a chance to thrive and where basic needs are met, emphasizing the power of collective action [16][17]

Urban Development & Social Disparity - The report questions why Indian cities, despite visible wealth disparity, haven't experienced social issues to the same extent as cities like Rio de Janeiro or Johannesburg [1]

Sustainability and Development - The speaker emphasizes the importance of sustainable development goals (SDGs) as a comprehensive measure of a country's progress, beyond just GDP [3] - The world faces two major problems: climate change and inequality, which drive the need for SDGs [4] - The speaker advocates for celebrating and incentivizing "carbon preventers," people living simple lives with minimal carbon footprints, such as tribal communities [7] - The speaker questions the conventional development paradigm, suggesting a need to re-evaluate what constitutes progress and well-being [10] - The speaker proposes incentivizing communities for preserving biodiversity, such as suggesting an "oxygen tax" for regions with abundant forests [11][12] Economic Opportunity and Livelihood - The speaker highlights the potential of utilizing local resources and entrepreneurship to create livelihood opportunities in rural areas, preventing migration to cities [12] - The speaker provides examples of individuals and organizations finding innovative ways to generate income in rural communities, such as processing local produce and utilizing traditional knowledge [12][15] - The speaker points out the supply-demand mismatch in cities, where an oversupply of labor leads to exploitation, and suggests empowering rural communities to improve their economic standing [16][17] Global Responsibility and Consumption - The speaker argues that developed countries should not hinder developing countries' progress, but rather support them in achieving sustainable development [18] - The speaker emphasizes that individual consumption patterns significantly contribute to greenhouse gas emissions, and encourages reducing, reusing, and recycling [18] - The speaker suggests that every purchase is a "vote" for either sustainable solutions or unsustainable practices, urging consumers to make conscious choices [18]

Company Insights - Domino's reported a better-than-expected quarterly performance with earnings of $48 million, exceeding the anticipated growth of 3.95% [2] - The CEO, Russell Winner, is recognized for his strategic focus on offering affordable options, such as a $10 pizza deal, which aligns with consumer spending trends [2][3] - There is a significant portion of the population that struggles to afford meals priced above $10, indicating a shift in consumer behavior towards more budget-friendly dining options [3][4] Industry Trends - The discussion highlights a broader economic issue where 40% of the population cannot cover a $400 unexpected expense, reflecting ongoing financial strain among consumers [4] - The market for value-oriented retailers, such as TJX, is thriving as consumers seek thrifty options amidst inflationary pressures [5][6] - The impact of inflation is acknowledged, suggesting that consumer spending habits are being influenced by economic conditions [6]