Morning Brew Daily Apple Bets $500B on the US & Rich People Are Powering the Economy?
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Feb 25, 2025 Apple's bold $500 billion investment in U.S. manufacturing aims to create 20,000 AI jobs, spotlighting the tech giant's response to economic challenges. Rich Americans are notably driving the economy through their lavish spending. A legal showdown is brewing over the Dakota Access Pipeline, potentially reshaping fossil fuel dynamics. Meanwhile, 'The White Lotus' is influencing travel spots, raising curiosity about Thailand's tourism impact. The hosts wrap up with amusing takes on current events, from Starbucks food quality to MLB robot umpires.
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Apple's Playbook
- In 2018, Apple pledged $350 billion to the U.S. economy under the Trump administration.
- This was likely a strategic move to avoid tariffs on Chinese goods, similar to their current $500 billion pledge.
Economy's Reliance on the Rich
- The top 10% of American earners are driving nearly half of all consumer spending.
- This dependence on the wealthy makes the economy vulnerable to market fluctuations.
Wealth Inequality and Spending
- The wealthiest 10% of Americans own a disproportionate share of stocks.
- Their increased wealth from the stock market has widened the spending gap.