Below is our world-renowned Demographer Neil Howe's latest weekly podcast. Neil discusses newsworthy market events that will prove the most timely, topical and consequential in the week ahead. He talks through the news looming largest on his radar screen to keep your investing laser focused and confident. This free webcast compliments his in-depth research product Demography Unplugged.
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In this latest issue of my weekly podcast...
We discuss Americans' growing gloom regarding Covid-19. Over the last month, Americans are becoming more pessimistic about whether the pandemic is getting better or worse; about how long it will last; and about its long-term impact on the economy. The shift has come after nearly four weeks of rising daily case numbers--and after nearly one week of rising daily death numbers. According to Pew, 71% of Americans now say that thinking about the state of their country makes them “angry.” Only 17% say “proud.”
Economic indicators start to show improvement. The NFIB Business Optimism Index for June rose to 100.6. Though with recent surges in Covid-19 cases, this index could significantly drop for July. Industrial production in the US for June was +5.4%, beating expectations of +4.2%. In China, exports YoY unexpectedly rose +0.5%. This was due to exporting large quantities of facemasks and medical equipment. China's Q2 GDP YoY came in positive at +3.2%.
Cancel culture divides liberals. Last week, many prominent liberals sparked controversy by signing a Harper's Magazine letter calling for an end to cancel culture. One of the signers, Bari Weiss, resigned from the NYT after citing bullying from her coworkers regarding the letter. That's the second major resignation from the NYT in the last month. In the broader scheme, cancel culture threatens to split the Democratic Party just as Biden gains ground in the polls.
Trump signs the Hong King Autonomy Act. The president has 90 days to submit a list to Congress of Chinese officials who helped erode HK's autonomy. He must also submit a list of financial institutions that worked with said officials. The executive office is then given one year to deal out sanctions.
Poland holds presidential elections. President Andrezk Duda won reelection in the closest race in the country's history. He won with 51% of the vote against his opponent's 49%. Duda ran on a socially conservative platform while rallying against the "influence" of Western countries.
Turkey and Egypt inch closer to war. The two countries have become entwined with the Libyan civil war. Turkey supports the north-western Tripoli government, while Egypt supports the eastern government of General Khalifa Haftar. Egypt has declared they will invade Libya if the port city of Sirte is captured by Tripoli/Turkey.
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ABOUT NEIL HOWE
Neil Howe is a renowned authority on generations and social change in America. An acclaimed bestselling author and speaker, he is the nation's leading thinker on today's generations—who they are, what motivates them, and how they will shape America's future.
A historian, economist, and demographer, Howe is also a recognized authority on global aging, long-term fiscal policy, and migration. He is a senior associate to the Center for Strategic and International Studies (CSIS) in Washington, D.C., where he helps direct the CSIS Global Aging Initiative.
Howe has written over a dozen books on generations, demographic change, and fiscal policy, many of them with William Strauss. Howe and Strauss' first book, Generations is a history of America told as a sequence of generational biographies. Vice President Al Gore called it "the most stimulating book on American history that I have ever read" and sent a copy to every member of Congress. Newt Gingrich called it "an intellectual tour de force." Of their book, The Fourth Turning, The Boston Globe wrote, "If Howe and Strauss are right, they will take their place among the great American prophets."
Howe and Strauss originally coined the term "Millennial Generation" in 1991, and wrote the pioneering book on this generation, Millennials Rising. His work has been featured frequently in the media, including USA Today, CNN, the New York Times, and CBS' 60 Minutes.
Previously, with Peter G. Peterson, Howe co-authored On Borrowed Time, a pioneering call for budgetary reform and The Graying of the Great Powers with Richard Jackson.
Howe received his B.A. at U.C. Berkeley and later earned graduate degrees in economics and history from Yale University.
