Labor economist David Blanchflower discusses US labor outlook and potential recession. CEO Leland Miller talks about China's growth and EV overcapacity thesis. Bank earnings and industry risks are covered by Chris Whalen. Susan Collins from the Boston Federal Reserve is also featured.
Millennials face wealth disparity in home ownership compared to baby boomers, highlighting financial challenges.
Investing in preferred shares offers stability in volatile markets and requires focused research on banks.
Deep dives
Challenges of Remote Work Environment in Post-Pandemic Era
Companies are adopting more casual office setups like couches to create a comfortable work environment, but experts warn about potential back problems due to improper posture while working on sofas. This trend is driven by the desire to make offices less formal, encouraging innovative thinking, but spills and stains are leading to increased cleaning costs.
Shift in Workplace Dynamics Between Millennials
As millennials transition from competition against baby boomers to competing amongst themselves, a new divide emerges between those who inherit family wealth for home purchases and those who face financial challenges. Research shows that millennials have 30% less wealth compared to boomers at a similar age, highlighting the disparities in home ownership and accumulated wealth.
Return of Standardized Testing in College Admissions
Elite schools, such as Harvard and Caltech, are reintroducing standardized tests like the SAT after a period of optional submissions. This shift coincides with a Supreme Court ruling prohibiting consideration of race in admissions. The move aims to bring objectivity to admissions decisions, even as concerns about access to test preparation resources continue.
Importance of Financial Literacy and Smart Investments
Financial analyst Christopher Whalen emphasizes the importance of choosing investments wisely, pointing out the benefits of preferred shares in financial markets for stability amid volatility. He highlights the need for focused research on banks and equity investments to navigate changing economic landscapes and maintain or enhance portfolio returns.
Bloomberg Surveillance hosted by Tom Keene and Paul Sweeney April 12th, 2024 Featuring:
David Blanchflower, labor economist and economics professor with Dartmouth, on labor outlook in the US and eco policy as well as potential for a recession in the US
Leland Miller, CEO at China Beige Book, on latest China Beige Book new Q1 results, where 2024 growth is headed, & whether the China EV overcapacity thesis is real
Susan Collins, president of the Boston Federal Reserve, speaks with Bloomberg's Michael McKee
Chris Whalen, founder at Whalen Global Advisors, on bank earnings and bank industry/eco risks
Bloomberg's Lisa Mateo with her Newspaper Headlines