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OJ Simpson to Ron Goldman's father: $58 million.
GDPNow, link here: another reason for Fed not to lower rates in December --
Hogwash: talking head says "upper income" parents worried about their children finding jobs due to AI revolution and "youth unemployment rate."
Oh give, me a break. Parents are having fewer and fewer children -- we had two; my parents had six. "Upper income parents" -- let's see how Google Gemini defines "upper income parents":
Upper-income brackets are often defined as earning significantly more than the national median income of around $83,730, with the top 20% needing to earn roughly double that amount, or about $175,700 or more.
So, next question, what is the average net worth of today's "upper income parents"?
"Upper income parents" generally fall into households with a net worth placing them in the
top 10% to 25% nationally, which typically corresponds to a net worth ranging from approximately $714,000 to over $2.1 million (based on 2024-2025 data). Holy mackerel: I would have expected net worth of "upper income parents" to be a whole lot more. Wow. That is incredibly disappointing, or should I say, shocking?
Even more hogwash: same talking head says if the Fed doesn't cut in December, 2025, we will see significantly less spending over the end-of-year holiday. LOL.