The world’s richest have amassed an eye-watering stockpile of $15.1 trillion—and their heirs are set to take over a third of the global billionaire fortune in the coming decade. Women and Gen Xers are set to take home the largest slice of the pie. About 5,000 spouses and adult children will inherit $6.6 trillion of
The United States is entering the most expensive phase of retirement. Some of America’s oldest are eligible for more than $100,000 a year in combined Social Security benefits, while remaining as one of the wealthiest generations in the country. The national debt is rising—just passing $40 trillion this month—and Social Security is set to enter
If there’s one thing that AI companies are known for, it’s their fondness for seemingly incomprehensible numbers. Over the last few years, the industry has seen eye-watering salaries, unprecedented adoption figures, and never-before-recorded capital expenditure. Now come total addressable market estimates—known as TAMs—worth roughly 40% of the entire US equity market. AI lab Anthropic, reportedly
The debate over artificial intelligence and monetary policy is already well under way. Federal Reserve Chair Kevin Warsh and others have rightly emphasized that AI could raise productivity and productive capacity even as the investment boom puts pressure on resources before those benefits arrive. That timing problem is real. But it risks obscuring a more
WASHINGTON — The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit make up an enormous share of federal spending. The milestone figure was recorded just five months after the U.S. hit a record $39 trillion
The U.S. national debt is hurtling toward $40 trillion, and Bank of America Research strategist Michael Hartnett’s “Anything but Bonds” framework is becoming ever more applicable. Boiled down, Hartnett warns the US is accumulating too much debt, which causes the government to issue too many bonds—and investors want compensation for the fiscal risk—making long-duration Treasurys
