What We’re Reading
A few good pieces the Collaborative team came across this week …
Comedy
What it teaches us about money:
“Wealth is not about having a lot of money; it’s about having a lot of options.” Chris Rock.
“The only thing money gives you, is the freedom of not worrying about money.” Johnny Carson.
“Cocaine is God’s way of saying that you’re making too much money.” Robin Williams.
Ambition
An investment of $1000 will be put in a legal trust for 500 years. Assuming a modest 4% annual return, the investment will be approximately 328 billion dollars in the year 2515, at which point it will be spent on scientific research and the construction of a time machine.
Held back
Homeownership among people ages 24 to 32 fell 9 percentage points, to 36% from 45%, between 2005 and 2014, the Fed said. While many factors affected the homeowner rate, the Fed said 2 percentage points, or about a fifth, of the decline was tied directly to student debt. That translated into 400,000 borrowers who could have owned a home by 2014 but didn’t because of student loans.
Demand
The northern Chinese province of Hebei is proposing giving workers Friday afternoon off, while Beijing urges shops and malls to stay open later at night, as officials seek creative ways of stimulating consumption and supporting economic growth.
Clean meat
“If you had lied to me and told me this was store-bought ground beef, I would have believed you.” So says my friend John as we stand in his kitchen, experimenting with the newly revamped Impossible Burger, which will begin to show up in some restaurants this week. Later this year, the plant-based burger will also be available in grocery stores for the first time.
Luck and chance
Have a nice weekend.