Good morning, I am back from the Aspen Ideas Festival, where I had the opportunity to talk to so many to think about how to navigate this climate. I will share some of these findings later this week. For today I would like to emphasize a conversation with the well-known economist Nouriel Roubini, the co-founder and co-chair from Carlyle Group, David Rubenstein and Arjun Sethi, co-CEO des Crypto Exchange. The topic: what wealth will look like tomorrow.
Roubini (known as Dr. Doom for the prediction of the financial crisis) has recently been Dr. Boom for his view that a technically controlled Renaissance for the US economy will ultimately lead to growth of 8% GDP. “I am a contrarian,” he said, realizing that technological drivers of the innovation that work in America could also create job losses that may require a universal basic income.
Rubenstein spoke about the increasing debts of this country and the strength of the dollar, while he was optimistic in the European defense sector and the longevity economy. “In the future, we will not measure people’s prosperity by how much money they have.” Rather, he said, the prosperity in the length and health of one’s own life is measured. “In 10 or 20 years we can tell you how long you will probably live,” he said.
Sethi spoke about the democratization of access to capital and the trade about crypto and the continuous challenge of regulation in the construction of products and to stand out of things. “If you go to China and build a robot, it would take less than six months. While it could take two years in the United States,” said Sethi, who tattooed the number of seconds on his forearm for one day. “I play our lawyers more than everyone else.” You can watch our full conversation here.
Further news below.
Contact the CEO every day via Diane Brady diane.brady@fortune.com
Top messages
10 days until the tariffs are resumed
Agreements with about dozen countries are probably be present Before the deadline on July 9th. But most of them are bare bones agreements that will require future negotiations. The United States will send countries that have not concluded a contract. Trump said that the tariff level would be 25% or more.
Canada ends the digital tax according to Trump threat
The sales tax of 3% had US technology companies. Trump had Terminated talks with Canada On Friday and Sunday they did not say “until the time of time how they drop certain taxes,” he said in Fox News. “People don’t know that Canada has very bad to do.”
Tax cuts and tariffs
The Senate presented President Donald Trump’s plan for tax reliefs and patterns over the weekend, whereby Trump urged the legislator to end the legislation by July 4. In other deadline messages, Said Trump He would rather send letters to the countries about their upcoming tariffs than extend the break after July 9th.
Trump’s big beautiful calculation could lend 2.8 trillion dollars in debt
That is According to a new estimate through the Congress budget office. The White House claims that deficits will reduce.
Trump renews his attacks on Powell
The President again insulted The chairman of the US Federal Reserve, which keep interest rates at 4.25%. Trump called Jerome Powell a “stupid person” and a “bad person” in Fox News and said: “We should be 1% or 2%.”
1 billion US dollars of Nvidia insider sales
Top executives of the Chipmaker in the last 12 months have sold Hundreds of millions in the pre -planned share sales, reports the FT. The sales of 500 million US dollars took place this month alone. CEO Jensen Huang sold shares for the first time since September.
Happy birthday, Elon
A Tesla model Y drove up From a factory in Austin to his new owner, who was waiting 30 minutes away. This “completely autonomous delivery”, as Tesla CEO Elon Musk shared, was a premiere for the car company – and the milestone was an early birthday present for Musk, which was 54 on Saturday.
Mamdani’s attitude to billionaires
In an interview with NBC, the mayor candidate of New York City, Zohran Mamdinani, divided That he is anti-millionaire as “it is so much money in a moment of such inequality”. Mamdani, a self -described democratic socialist, said: “I look forward to making a city with everyone, including billionaires, a city that is more fair for everyone.”
The markets
- S&P 500 Futures This morning 0.37%, Premarket. The S&P 500 Castle on Friday by 0.52% and reached a new record high (6,173). United Kingdom And Europe The markets were flat in early trade. Japan Nikkei 225 had increased by 0.84%. The major China The indices were the way it was this morning South KoreaBut Hong Kong And India were below.
From the analysts
- UBS on US fiscal stability: “The US Senate tries to say goodbye to a budget. The markets expect this to keep the US fiscal position on a non -sustainable way (ideas for reducing deficits generally rest on some very heroic assumptions about economic growth and tax revenue). can.
- Goldman Sachs in the global markets: “The underlying US inflation was lower than expected; the measures of trade uncertainty have continued to be taken; fragility at the long end of the global bond markets has so far been included; the effects of tariffs on growth and inflation have not yet validated,” according to Kamakhya Trivedi and Dominic Wilson.
- Pantheon macroeconomics for consumer expenses: “The US Senate tries to say goodbye to a budget. The markets expect this to keep the US fiscal position on a non -sustainable path (ideas for reducing deficits generally rest on some very heroic assumptions about economic growth and tax revenue). Since the debt levels in general grow, it is worth remembering that the private sector assets assets for assets of private sector In the US government to mobilize itself, in the time to mobilize itself, in the time to mobilize itself to mobilize.
To the watercolor seal
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This CEO of Gen X has only worked for a company for 35 years that Job-Hopping-gen z does not put enough energy and time in your current appearances From Preston before
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