Weeks ago, hedge fund investor Stanley Druckenmiller wrote an op-ed in The Wall Street Journal criticizing Treasury Secretary Scott Bessent’s decision to increase government purchases of long-term Treasury bonds in an effort to bring down yields. The op-ed sparked controversy, not so much for the fact that Druckenmiller was publicly rebuking his former protege, but
Increasing inequality demands action. The richest 10% of adults globally receives more than half (53%) of the world’s income, whereas the poorest half receives 8%. Wealth is even more concentrated, with the richest 10% owning around three-quarters of global wealth while the poorest half owns just 2%1. Almost two-thirds of people live in countries where
Rafael Manuel’s new indie feature “Filipiñana,” which opens Friday in New York, is set against a backdrop of oppressive heat and drought. The narrative follows Isabel, a 17-year-old from the provinces of the Philippines, who gets a job at a prestigious golf resort. Manuel felt the golf course was the perfect setting for the film
Priyanka Chopra Jonas talks to the BBC about her new film, The Cycle of Love. Chopra Jonas, who is the executive producer of the film, said she was instantly drawn to the story when she heard it for the first time. The film is based on the true story of Indian artist PK Mahanandia, who
Scott Bessent has some good news for consumers this morning: The K-shaped economy is officially over! Consumers on the lower end of the income spectrum are no longer being left behind by their richer counterparts, he insists. The Treasury Secretary said he is “sick of hearing about this K-shaped economy,” during a CNBC interview yesterday,
The authors of the Global Justice Report They are calling for a UN-led central bank to replace the International Monetary Fund.Credit: Samuel Corum/Bloomberg/Getty Ambitious. Utopian. Crackpot. These are some of the responses to last month’s post by Global Justice Report by economist Lucas Chancel of the Paris-based World Inequality Lab and his 44 co-authors. The