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In a memorable appearance on &#8220;The Late Show&#8221; in 2018, Shaquille O&#8217;Neal shared a light-hearted story about a chance encounter with <a href="https://www.benzinga.com/topic/david-beckham">soccer star David Beckham. </a>
While strolling through Beverly Hills, O&#8217;Neal stumbled upon a wallet that caught his attention, the former NBA star, who is also known as Shaq, recalled in the interview. 
&#8220;I was walking one day in Beverly Hills and I found a wallet,&#8221; Shaq <a href="https://www.youtube.com/shorts/ufDlh75h8Ys">recounted</a>. &#8220;Usually when I find wallets, I just take all the money out and just throw them.&#8221; However, this wallet was different. Upon closer inspection, he discovered it belonged to none other than Beckham himself.
Shaq told the story on &#8220;The Late Show&#8221; while sitting next to Victoria Beckham, the wife of the soccer star. 
&#8220;I looked and it said David Beckham. I was like, can&#8217;t be. And I looked at the ID and it was David Beckham,&#8221; he said. Instead of simply handing it over to the front desk, Shaq decided to track Beckham down personally.
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While O&#8217;Neal returned the wallet to Beckham, he also used his comedic personality to try and prank Beckham and also while telling the story on the talk show. 
&#8220;First I played a joke and I was like, I have your wallet. It&#8217;s gonna cost you a million dollars to get it back,&#8221; Shaq said. 
Beckham, however, was quick to recognize the NBA Legend&#8217;s signature humor. &#8220;Shaq, stop playin,&#8221; Beckham responded.
&#8220;The funny thing is, there was some money in his wallet,&#8221; Shaq said. &#8220;&#8216;You know what happened?'&#8221; he recalled Beckham asking.
 &#8220;I was like, nope.&#8221; 
Shaq&#8217;s lighthearted style and funny stories had everyone laughing, highlighting the buddy-buddy vibe between these two sports stars.
Read Next: 
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<li><a href="https://www.benzinga.com/general/sports/24/09/40866143/shaquille-oneal-reflects-on-divorce-fatherhood-and-personal-accountability-i-was-lost-76-000-squar">Shaquille O&#8217;Neal Reflects On Divorce, Fatherhood And Personal Accountability: &#8216;I Was Lost. 76,000 Square Foot House By Yourself&#8217;</a></li>
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This article was partially written using artificial intelligence and was reviewed by Benzinga editors.
Photo: Shutterstock

Entertainment

Sports

NBA Legend Shaq Once Found A Wallet In Beverly Hills: 'Usually When I Find Wallets I Just Take All The Money Out' — But This One Was David Beckham's, So Here's What He Did

California Gov. Gavin Newsom (D) signed three bills on Tuesday aimed at curbing the use of artificial intelligence in creating misleading images or <a href="https://www.benzinga.com/news/24/09/40912021/gavin-newsom-signs-laws-aimed-at-curbing-deepfakes-around-elections-critical-that-we-ensure-ai-is-no" target="_blank" rel="noreferrer noopener">videos in political advertisements</a>.
The&nbsp;Federal Trade Commission&nbsp;(FTC) alleges &#8220;big tech&#8221; makes little effort to inform social media users of privacy danger or allow <a target="_blank" href="https://www.benzinga.com/government/24/09/40946073/no-privacy-for-profits-sake-ftc-calls-out-amazon-meta-big-tech-for-exposing-users-to-host-of-harms" rel="noreferrer noopener">them to opt out of data collection</a>.
In its bid to create a domestic competitor to rival&nbsp;NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;in the artificial intelligence (AI) chip market, China is reportedly facing significant challenges due to <a target="_blank" href="https://www.benzinga.com/news/24/09/40940596/matching-nvidia-in-short-term-is-unlikely-analysts-predict-as-china-ramps-up-search-for-rivalling-je" rel="noreferrer noopener">U.S. sanctions and technological gaps</a>.
Gaming
Rockstar Games may delay GTA 6's anticipated 2025 release to 2026, according to former technical director Obbe Vermeij's insight. He suggests that a decision on whether to push back the release could be <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40905542/could-gta-6-be-pushed-to-2026-insights-from-former-rockstar-insider" rel="noreferrer noopener">made by mid-2025, mirroring past delays</a>.
Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) stated that FC 25 early access starts on September 20, with a global release on September <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40906473/ea-sports-fc-25-when-and-where-to-play-early-access-global-launch-times" rel="noreferrer noopener">27 for all major consoles and PC</a>.
In an Investor Day event, Electronic Arts said it expects sustained growth in EA SPORTS and outlined plans for new business opportunities beyond gaming, including the EA SPORTS App. It described the EA SPORTS App as socially driven with sports content, live sports data, interactivity and <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40910079/what-happened-with-electronic-arts-stock-today" rel="noreferrer noopener">gaming centered on global football</a>.&nbsp;
Sony Group Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) is set to bid farewell to 10 titles from its PlayStation Plus subscription service this month, with <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40907983/september-playstation-plus-lineup-whats-coming-and-whats-leaving" rel="noreferrer noopener">LittleBigPlanet 3&nbsp;leading the pack</a>.
Sony has&nbsp;introduced&nbsp;a special 30th Anniversary Collection to mark <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40947591/playstation-celebrates-30-years-with-retro-themed-ps5-pro-and-slim-editions" rel="noreferrer noopener">three&nbsp;decades of PlayStation</a>.
Flappy Bird is making a comeback through the Flappy Bird Foundation, with plans to release a new version by 2025 across multiple platforms. The game&#8217;s original creator, Dong Nguyen, distances himself from the <a target="_blank" href="https://benzinga.com/general/gaming/24/09/40885525/i-did-not-sell-anything-flappy-bird-creator-denounces-games-crypto-infused-comeback" rel="noreferrer noopener">project, stating he has no involvement</a>.
Blizzard's Diablo 4 has reportedly generated $150 million from in-game microtransactions <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40886670/blizzards-diablo-4-generates-150m-from-microtransactions-contributing-to-over-1b-in-sales" rel="noreferrer noopener">since its release in&nbsp;June 2023</a>.
Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40871056/larry-ellisons-daughters-gaming-company-hit-by-wave-of-mass-resignation-staff-walkout-amid-spinoff" rel="noreferrer noopener">Larry Ellison&#8217;s Daughter&#8217;s Gaming Company Hit By Wave Of Mass Resignation: Staff Walkout Amid Spinoff Failure</a>
Smartphones
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) announced a price increase for its battery replacement&nbsp;service for the&nbsp;iPhone 16 Pro&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/09/40870767/apple-wants-you-to-pay-more-for-iphone-16-battery-replacement-heres-how-much-it-will-cost" rel="noreferrer noopener">and&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/09/40870767/apple-wants-you-to-pay-more-for-iphone-16-battery-replacement-heres-how-much-it-will-cost" rel="noreferrer noopener">iPhone 16 Pro Max</a>.
Apple is experiencing lower-than-anticipated demand for its&nbsp;iPhone 16 Pro and Pro Max&nbsp;models during the first weekend of pre-orders, according to <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40872864/apple-staring-at-lower-than-expected-demand-for-iphone-16-pro-and-pro-max-in-the-fi" rel="noreferrer noopener">top analyst&nbsp;Ming-Chi Kuo</a>.
Related: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40869770/no-razzle-dazzle-with-latest-iphone-but-apple-wowed-with-these-2-glowtime-announcements-says-gur" rel="noreferrer noopener">No &#8216;Razzle-Dazzle&#8217; With Latest iPhone, But Apple Wowed With These 2 &#8216;Glowtime&#8217; Announcements, Says Gurman</a>
Apple stated that iPhone production in India would hit 20% -25% by 2027, improving margins over time. AirPods and Apple Watch production outside China to exceed <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40927849/apple-expands-beyond-china-to-india-southeast-asia-analyst-warns-of-margin-impact" rel="noreferrer noopener">50% by 2024 and 2027, respectively</a>.
The&nbsp;upcoming trifold smartphone&nbsp;from&nbsp;Huawei Technologies, China's top smartphone maker,&nbsp;is being listed for over $7,000 on online marketplaces, more than double its<a target="_blank" href="https://www.benzinga.com/24/09/40912367/huaweis-trifold-is-now-fetching-7-000-as-buyers-flip-apple-rivals-device-on-online-marketplaces-in-c" rel="noreferrer noopener"> list price, even before its official release</a>.
Technology
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has reported that&nbsp;Russian cyber-influence operations&nbsp;are now targeting the&nbsp;Kamala Harris–Tim Walz&nbsp;campaign in the lead-up <a target="_blank" href="https://www.benzinga.com/news/24/09/40912191/harris-walz-campaign-targeted-by-russian-hackers-microsoft-threat-analysis-center-notices-shift-in-t" rel="noreferrer noopener">to the 2024 presidential election</a>.
Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) announced the launch of more than 100 new open-source AI models and <a target="_blank" href="https://www.benzinga.com/news/24/09/40934797/alibaba-shares-rise-4-in-premarket-after-company-unveils-over-100-new-ai-models-and-text-to-video-to" rel="noreferrer noopener">introduced a text-to-video generation tool</a>.
ByeDance-owned&nbsp;TikTok, the widely-used social media platform for creating and sharing short-form videos, has <a target="_blank" href="https://www.benzinga.com/news/24/09/40890877/tiktoks-future-hangs-in-balance-as-judges-express-skepticism-in-us-court-battle" rel="noreferrer noopener">encountered a doubtful panel of judges</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Thinks Social Media Platforms Like TikTok And Facebook Are &#8216;A Total Stupid Waste Of Time&#8217;</a>
Billionaire entrepreneur and "Shark Tank" star&nbsp;, Mark Cuban&nbsp;has shared a new patent that allows social media platforms and user profiles to sell <a href="https://www.benzinga.com/news/24/09/40913939/mark-cuban-is-no-poster-boy-for-the-existing-patent-system-but-its-not-stopping-him-from-getting-his">advertisements of any media type</a>.
Elon Musk
Elon Musk has agreed with&nbsp;NVIDIA CEO&nbsp;Jensen Huang's prediction of a future where individuals will have personal digital agents akin to&nbsp;<a href="https://www.benzinga.com/news/24/09/40931686/elon-musk-agrees-with-nvidia-ceo-jensen-huangs-vision-of-a-future-where-well-have-our-own-ai-powered" target="_blank" rel="noreferrer noopener">Star Wars' R2-D2</a><a href="https://www.benzinga.com/news/24/09/40931686/elon-musk-agrees-with-nvidia-ceo-jensen-huangs-vision-of-a-future-where-well-have-our-own-ai-powered" target="_blank" rel="noreferrer noopener"> or&nbsp;</a><a href="https://www.benzinga.com/news/24/09/40931686/elon-musk-agrees-with-nvidia-ceo-jensen-huangs-vision-of-a-future-where-well-have-our-own-ai-powered" target="_blank" rel="noreferrer noopener">C-3PO</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40933824/nvidia-rival-amds-ceo-says-theres-no-one-size-fits-all-as-ai-chip-race-heats-up" rel="noreferrer noopener">Nvidia Rival AMD&#8217;s CEO Says &#8216;There&#8217;s No One Size Fits All&#8217; As AI Chip Race Heats Up</a>
Musk's social media platform,&nbsp;X, formerly&nbsp;Twitter, had managed to temporarily bypass a&nbsp;ban in Brazil with the help of an <a target="_blank" href="https://www.benzinga.com/news/24/09/40932378/elon-musks-x-manages-to-dodge-brazil-ban-with-software-update-court-wants-an-explanation" rel="noreferrer noopener">automatic update of its software</a>.
Mark Cuban said he would be interested in acquiring&nbsp;Rupert&nbsp;Murdoch's Fox News and&nbsp;Elon Musk's X, formerly&nbsp;Twitter, but t<a target="_blank" href="https://www.benzinga.com/news/24/09/40913939/mark-cuban-is-no-poster-boy-for-the-existing-patent-system-but-its-not-stopping-him-from-getting-his" rel="noreferrer noopener">here are certain hurdles involved</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40897716/elon-musk-reacts-after-mark-cuban-says-he-would-buy-x-in-a-heartbeat" rel="noreferrer noopener">Elon Musk Reacts After Mark Cuban Says He Would Buy X &#8216;In A Heartbeat&#8217;</a>
Artificial Intelligence (AI)
ChatGPT-parent&nbsp;OpenAI&nbsp;has acknowledged that its latest model,&nbsp;known as "o1,"&nbsp;could potentially be <a target="_blank" href="https://www.benzinga.com/news/24/09/40870931/chatgpt-creator-openai-says-its-latest-models-pose-bioweapons-creation-risk-ai-giant-particularly-ca" rel="noreferrer noopener">misused for creating biological weapons</a>.
OpenAI&nbsp;has announced&nbsp;an independent board oversight committee focused on safety and security. It was established in response to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/09/40890661/chatgpt-parent-openai-establishes-oversight-committee-for-safety-amid-recent-fears-of-biological-wea" rel="noreferrer noopener">ongoing security process controversies</a>.
Speaking at an Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) financial analysts meeting, co-founder and CTO of the tech giant,&nbsp;Larry Ellison&nbsp;predicted that&nbsp;artificial intelligence will eventually power <a target="_blank" href="https://www.benzinga.com/news/24/09/40892284/oracles-larry-ellison-predicts-police-officers-will-be-supervised-at-all-times-and-citizens-will-be" rel="noreferrer noopener">extensive law enforcement surveillance systems</a>.
Microsoft&#8217;s LinkedIn, the professional networking giant, has come under scrutiny for reportedly using user data for <a target="_blank" href="https://www.benzinga.com/news/24/09/40931968/microsofts-linkedin-in-hot-water-for-allegedly-using-data-of-users-for-training-ai-before-updating-t" rel="noreferrer noopener">AI training before&nbsp;updating its terms of service</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40932928/billionaire-tech-ceo-says-not-to-bs-employees-they-are-too-smart-to-believe-ai-will-not-impact-their" rel="noreferrer noopener">Billionaire Tech CEO Says Not To &#8216;BS&#8217; Employees, They Are &#8216;Too Smart&#8217; To Believe AI Will Not Impact Their Jobs: &#8216;If You Think You&#8217;re Going To Try To Game This&#8230;&#8217;</a>

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Consumer Tech News (Sept 15-Sept 21): Russian Cyber-Influence Operations Targeting Harris–Walz campaign, Apple Raises Price For Battery Replacement & More

Are you <a href="https://www.benzinga.com/personal-finance/24/09/40780915/do-you-know-what-it-takes-to-be-wealthy-when-retired-heres-what-the-top-5-of-retirees-have-in-th">on track for a comfortable retirement</a> or falling behind? The numbers might surprise you.
According to data from the Federal Reserve analyzed by The Motley Fool, the top 10% of Americans – those in the 90th to 100th net worth percentiles – have a median retirement savings of $900,000. That's a pretty solid cushion. Meanwhile, those in the 75th to 89.9th percentiles come in with a median savings of $269,000.
Don't Miss:
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<li><a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.</li>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
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But what <a href="https://www.benzinga.com/personal-finance/24/09/40711869/how-rich-are-you-heres-the-net-worth-that-defines-upper-middle-and-lower-class">exactly qualifies as "upper class?" </a>While there's no set definition, being in the top 20% by income often puts you in that category. If you're earning around $145,000 or more annually, you <a href="https://www.benzinga.com/personal-finance/24/07/39652328/your-income-might-be-upper-class-and-you-dont-know-it-heres-the-salary-needed-to-reach-elite-sta">might be part of that group</a> depending on where you live.&nbsp;
When looking at the numbers, it's easy to feel discouraged if your retirement savings aren't quite there yet, but keep in mind that these are median figures. That means half of the people in these groups have saved more and half have saved less. What matters is that you're steadily saving and investing toward your future.
Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
Interestingly, the wealthiest Americans aren't just saving more – they're seeing their retirement savings grow much faster. Since 1989, the top 10% has seen their retirement savings increase by 713.24%. That's the power of compound interest in action.
For the rest of the country, the median retirement savings for all households is about $87,000. The median is much lower if you're under 35, at $18,800. So if you're doing better than these numbers, you're already ahead of the game.
See Also: <a href="https://www.benzinga.com/money/charlie-munger-100k">Charlie Munger said if you want to be rich, &#8220;find a way to get your hands on $100,000&#8221; — here&#8217;s what he means.</a>
One major reason the upper class continues to grow its savings is its investments. The top 10% of households own nearly 87% of stocks, which shows how critical investing is for long-term growth.
Looking to grow your retirement savings? Here are a few strategies:
Save regularly: Set aside a portion of each paycheck specifically for retirement.
Max out your 401(k): Use any employer matching program.
Trending: The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"> Here are three ways to join the club.</a>
Open an IRA: This provides more tax benefits and investment flexibility.
Diversify your portfolio: Spread your investments across different asset types.
Increase your savings rate: As your income grows, aim to boost your savings rate.
Remember, retirement planning is a long-term process. The earlier you start saving and investing, even with small amounts, the more time compound interest has to work in your favor.
Retirement goals also vary based on lifestyle, location and personal preferences. For instance, someone in Northwest Arkansas might need less to live comfortably than someone in Washington D.C. or California.
Ultimately, the focus should be on <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">your financial journey and goals</a>. With steady effort and smart financial choices, you can work toward a comfortable retirement no matter where you start.
Read Next:
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<li>How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.</li>
<li>A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a></li>
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Personal Finance

How Does Your Retirement Savings Compare To The Average 'Upper Class' Nest Egg? Here's What The Top 20% Have Saved

Kamala Harris has accepted an invitation for a CNN <a href="https://www.benzinga.com/news/24/09/40866884/trump-vs-harris-tense-standoff-in-nail-biter-polls">debate scheduled for October</a>, but Donald Trump has not followed suit.
What Happened: Trump said a rally in Wilmington, North Carolina, that it was &#8220;too late&#8221; for another debate. He cited the start of early voting in several states and questioned CNN&#8217;s impartiality as a debate moderator.
Trump said, "The problem with another debate is that it's too late. She's done one debate. I've done two. The voting is cast. The voters are out there."
Meanwhile, the Harris campaign has confirmed its participation in the CNN debate slated for October 23, less than two weeks before Election Day. The campaign stressed that voters &#8220;deserve another opportunity&#8221; to hear from the candidates.
According to the report <a href="https://www.bloomberg.com/news/articles/2024-09-21/harris-team-accepts-oct-23-debate-on-cnn-urges-trump-to-join?srnd=homepage-americas&amp;sref=TBDibEcD">by</a> Bloomberg, despite Trump&#8217;s reluctance to participate in the CNN debate, Harris campaign chairwoman Jen O&#8217;Malley Dillon noted that Trump had previously participated in and praised a CNN debate in June.
Also Read: <a href="https://www.benzinga.com/news/24/09/40969781/nate-silvers-forecast-kamala-harris-retakes-lead-over-donald-trump">Nate Silver&#8217;s Forecast: Kamala Harris Retakes Lead Over Donald Trump</a>
"Donald Trump should have no problem agreeing to this debate. It is the same format and setup as the CNN debate he attended and said he won in June, when he praised CNN's moderators, rules, and ratings," the outlet quoted Dillon&nbsp;saying in a statement.
So far, Trump and Harris have only had one debate, which took place on September 10, moderated by ABC News. After a shaky performance by Trump, a CNN snap poll showed voters viewed Harris as the clear winner.
Trump, who has claimed victory in their previous showdown, expressed no need for a second debate. However, he did question CNN&#8217;s neutrality as a moderator and mentioned a past offer to debate Harris on Fox News, which she declined.
Vice-presidential candidates JD Vance and Tim Walz are set to meet in their only debate on October 1 on CBS.
Why It Matters: The refusal of Trump to participate in another debate could have significant implications on the upcoming elections. The debates provide an opportunity for the candidates to present their policies and vision to the voters. 
By declining the invitation, Trump may be missing out on an opportunity to sway undecided voters.
Furthermore, the refusal also raises questions about the role of media outlets as debate moderators. Trump&#8217;s questioning of CNN&#8217;s impartiality could potentially lead to discussions about the neutrality of media outlets in political debates.
Read Next
<a href="https://www.benzinga.com/news/24/08/40667209/trump-vs-harris-new-polls-reveal-this-candidate-is-outperforming-in-swing-states" target="_blank" rel="noreferrer noopener">Trump Vs Harris: New Polls Reveal This Candidate Is Outperforming In Swing States</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

News

Politics

Kamala Harris Ready To Face Off In Second Debate, But Donald Trump Says It's 'Too Late'

Elon Musk had a sharp exchange of words with <a href="https://www.benzinga.com/news/24/05/38782945/metas-chief-ai-scientist-clashes-with-early-openai-investor-vinod-khosla-clearly-can-profit-financia">venture capitalist Vinod Khosla</a> on Musk&#8217;s X platform on Saturday as Khosla brought up government support for Musk&#8217;s businesses.
More Moderate Path Needed: The exchanges started several months ago with Khosla, the co-founder of Sun Microsystems and the venture capital firm Khosla Ventures, calling for an open Democratic convention and criticizing Donald Trump. Replying to Khosla, Tesla CEO Musk said, &#8220;Come on, Vinod. Trump/Vance LFG!!&#8221;
Musk argued that while Trump may not be without flaws, he is good for meritocracy and individual freedom, adding that many years ago this was ensured by the Democratic Party but now it is the Republicans that stands for these.
See Also: <a href="https://www.benzinga.com/news/24/04/38291762/legendary-silicon-valley-vc-vinod-khosla-sees-future-with-billion-robots-freeing-humans-from-undesir">Legendary Silicon Valley VC Vinod Khosla Sees Future With Billion Robots Freeing Humans From &#8216;Undesirable Jobs&#8217; — Elon Musk Agrees</a>
Musk Clarifies Regarding Subsidies: This argument did not go down well with Khosla, who questioned the rationale of subsidies to the ventures of the businessmen and preferred that these might have been used for deficit reduction. &#8220;This &#8216;meritocratic and promote individual freedoms over the heavy hand of government&#8217; I agree with. How much government money does SpaceX get? Could Tesla have survived without EV subsidies?,&#8221; he said, adding that Twitter, which has been rebranded as X following Musk acquiring it, may not be getting government money.
SpaceX is a spacecraft manufacturer, space launch provider, and satellite communications company founded by Musk in 2002. Reduction in the cost of space travel and colonization of Mars were the main premises on which the company was established.
&#8220;Which of these would you rather the government didn&#8217;t spend money on and reduce the deficit?&#8221; Khosla said. <a href="https://www.benzinga.com/general/macro-notification/24/04/38337484/is-the-us-national-debt-unsustainable-we-cant-have-a-deficit-of-7-of-the-gdp">One of the main challenges before the government is the huge fiscal deficits</a> it has run up and the two mainstream parties have different approaches toward tackling the crisis in hand.
Khosla&#8217;s comments about the deficit elicited a sharp reaction from Musk. &#8220;Do some research before you display your utter ignorance,&#8221; he said. He noted that SpaceX gets no subsidies and received half as much as Boeing for astronaut transport, but did 100% of the work.
Musk also clarified that government subsidies make up only a minor portion of his electric-vehicle manufacturing company Tesla&#8217;s revenue. On the other hand, oil &amp; gas companies get massive tax breaks that exceed those given to the EV industry by several orders of magnitude, he added.
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Government

Elon Musk Responds to Venture Capitalist's Claim On Government Subsidies For SpaceX, Tesla: 'Do Some Research Before You Display Your Utter Ignorance'

T. Rowe Price&#8217;s new 2024 Defined Contribution Consultant Study highlights significant shifts in <a href="https://www.benzinga.com/topic/retirement">retirement planning strategies</a>, particularly when it comes to personalization and retirement income.
The <a href="https://www.troweprice.com/institutional/us/en/lp/defined-contribution/consultant-research-study.html">study</a>, which surveyed 35 leading firms, reveals that consultants, advisors, and plan sponsors have significantly shifted their strategies and priorities over the last few years.
A striking change since 2021 is the increased engagement with retirement income strategies. In 2021, 59% of consultants and advisors reported that over half of their plan sponsor clients had no clear stance on retirement income. By 2024, this figure plummeted to 19%, indicating a growing prioritization of retirement income in plan offerings.
Jessica Sclafani, global retirement strategist at T. Rowe Price, notes that consultants and advisors are seeking &#8220;solutions that offer choice, personalization, flexibility and are cost-effective.&#8221; The study shows a preference for simple, systematic withdrawal capabilities as the most appealing strategy for delivering income to retired participants.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40959748/exclusive-options-expert-warns-of-terrible-week-after-fridays-triple-witching">EXCLUSIVE: Options Expert Warns Of &#8216;Terrible Week&#8217; After Friday&#8217;s Triple Witching</a>
Personalization, especially for near-retirees, emerged as a key theme. Managed accounts are gaining traction as opt-in investment options, though target date funds remain the predominant default investment alternative. The study also reveals strong support for transitioning from mutual fund-based target date solutions to collective investment trusts, primarily for cost efficiency.
Fixed income strategies have evolved in response to post-pandemic interest rate increases. The study reports that 89% of respondent firms now prioritize diversification opportunities, up from 48% in 2021. There&#8217;s also growing support for non-traditional bond allocations within target date solutions, with active management favored in high-yield bonds and emerging markets debt.
The research anticipates growth in in-plan emergency savings programs, with 70% of firms expecting such offerings to become more common within the next three to five years.
These findings underscore a significant shift in the retirement planning landscape, with increased focus on personalized, flexible, and cost-effective solutions to meet the evolving needs of plan participants across different life stages.
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<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40960886/palantir-dell-to-join-s-p-500-friday-heres-how-tesla-stock-has-performed-since-its-add">Palantir, Dell To Join S&amp;P 500 Friday: Here&#8217;s How Tesla Stock Has Performed Since Its Addition In 2020</a></li>
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Financial Advisors

Retirement Strategies In 2024 Focus On Flexibility And Income

Over the weekend, the cryptocurrency world was buzzing with news. From Anthony Scaramucci&#8216;s comments on former President Donald Trump&#8216;s influence on the crypto industry to a lucky GameStop customer&#8217;s Bitcoin windfall, there was no shortage of intriguing developments. Here&#8217;s a quick recap of the top stories.
Scaramucci&#8217;s Warning on Trump&#8217;s Crypto Influence
Founder of SkyBridge Capital, Anthony Scaramucci, voiced his concerns about the potential impact of a Trump victory on the cryptocurrency industry at the Token2049 conference. Scaramucci emphasized Trump&#8217;s polarizing effect, suggesting his support for crypto could trigger a backlash from those opposed to him. <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40934959/anthony-scaramucci-says-donald-trump-is-a-polarizing-person-but-pulling-democrats-along-on">Read the full article here.</a>
GameStop Customer Strikes Bitcoin Gold
A GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) customer hit the jackpot, turning a small purchase into a Bitcoin worth over $60,000. The windfall came from a redemption code in the Cardsmiths Currency Series 1 trading card series, which features influential figures in the cryptocurrency sector. <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40946963/bitcoin-worth-63-000-pulled-in-33-pack-of-trading-cards-at-gamestop-mind-boggling-story-go">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40918151/kamala-harris-edges-into-50-48-election-betting-odds-lead-but-this-billionaire-warns-he-wi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Edges Into 50:48 Election Betting Odds Lead, But This Billionaire Warns He Will Pull Out Of The Market If The Vice President Wins</a>
Trump&#8217;s Historic Bitcoin Transaction
In a move hailed as &#8216;one of the most historic transactions&#8217;, former President Trump paid for his meal at a crypto-themed bar in New York using Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) during a campaign stop. The move was seen as an attempt to garner support from the crypto community. <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40932192/trump-pays-up-for-smash-burgers-and-diet-cokes-with-bitcoin-during-new-york-campaign-halt-">Read the full article here.</a>
Shiba Inu Launches K9 Finance Liquid Staking
The Shiba Inu team announced the launch of the K9 Finance liquid staking platform on the Shibarium network. The new platform is expected to boost SHIB by increasing the total value locked on Shibarium and the transaction volume on the network. <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913080/shiba-inu-team-says-launching-k9-finance-liquid-staking-on-shibarium-tomorrow-are-shib-bur">Read the full article here.</a>
Ethereum Co-Founder Backs Trump Over Harris for Crypto
Charles Hoskinson, co-founder of the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) blockchain, expressed his preference for Donald Trump over Vice President Kamala Harris from a cryptocurrency perspective at the TOKEN2049 conference. Hoskinson emphasized the importance of global regulatory frameworks for crypto, regardless of the U.S. stance. <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40919168/ethereum-co-founder-says-donald-trump-is-certainly-the-favorite-over-kamala-harris-for-cry">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945847/donald-trump-now-trails-kamala-harris-by-4-points-after-9-point-election-odds-turnaround-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Now Trails Kamala Harris By 4 Points After 9-Point Election Odds Turnaround In Only 9 Days</a>
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 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Trump's Historic Bitcoin Transaction, Ethereum Co-Founder Backs Trump Over Harris For Crypto, Gamestop Customer's Bitcoin Windfall, And More: This Week In Cryptocurrency

Former President <a href="https://www.benzinga.com/personal-finance/24/09/40900871/donald-trump-says-inflation-is-the-highest-ever-but-experts-dispute-his-claims-heres-the-truth-a">Donald Trump</a>, never one to shy away from bold claims, stirred the pot again during a visit to Michigan. Speaking in the heart of America's auto industry, he repeated a debunked claim that Chinese automakers are building massive factories in Mexico.
But he didn't stop there. Trump promised to slap a 200% tariff on cars made in these nonexistent plants if they ended up in the U.S.
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&#8220;If I don&#8217;t win, you will have no auto industry within two to three years,&#8221; Trump warned a crowd in Flint. He suggested that a victory for Vice President Kamala Harris in November would end American car manufacturing. According to Trump, the shift to electric vehicles would move jobs directly to China, leaving the U.S. auto industry in the dust.
However, the facts paint a different picture. Under the current administration, auto jobs have increased. According to the Bureau of Labor Statistics, when Trump left office in January 2021, auto jobs had dipped 0.8%, landing just above 949,000, as cited by The Associated Press.&nbsp;
Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a>
Since President <a href="https://www.benzinga.com/real-estate/24/07/39624809/the-last-time-biden-left-the-white-house-he-cashed-in-heres-how-2025-could-bring-another-boost-for-h">Joe Biden</a> took over, auto and parts jobs have jumped by 13.6%, reaching 1.07 million by August. Car sales even ticked up by 2.4% in the first half of this year. The idea that the U.S. auto industry is on its last legs seems a stretch at the very least.
Trump also threw around some familiar rhetoric, pledging to force automakers to build factories in the U.S. by imposing steep tariffs on foreign-made cars. &#8220;It'll be like taking candy from a baby," he said, confident his proposed tariffs would discourage companies from building plants abroad. His plan is simple: if you make cars overseas, you'll pay dearly to sell them in America.
Trending: The startup behind White Castle's favorite Robot Fry Cook announces a next-generation fast food robot –<a href="https://www.benzinga.com/money/miso-robotics-flippy"> Here's how to get a share for under $5 today.</a>
However, foreign automakers already operate multiple plants in the U.S., mostly in southern states, meaning many are already playing by the rules Trump wants to enforce. While Trump's threats of tariffs may sound tough, experts point out that they often lead to higher prices for American consumers rather than benefiting domestic workers.&nbsp;
Trump&#8217;s tariff proposal also extends to Chinese cars supposedly built in Mexico. &#8220;They&#8217;re owned and built by China in Mexico and a number of them going up right now,&#8221; he claimed.&nbsp;
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However, industry experts have repeatedly stated that this is untrue. The only Chinese auto factory in Mexico is run by JAC, a small company assembling low-cost vehicles from kits. It&#8217;s focused on the Mexican market, not the U.S.
In response to Trump's comments, Michigan Sen. Gary Peters, speaking on behalf of Kamala Harris' campaign, issued a sharp rebuttal. He argued that another Trump presidency would be disastrous for autoworkers.
&#8220;A second Trump term would crush auto jobs, ceding Michigan's global auto manufacturing leadership to the Chinese government," Peters warned. He added that <a href="https://www.benzinga.com/startups/24/08/40196337/kamala-harris-says-rebuilding-the-middle-class-is-a-top-priority-heres-the-investment-strategy-she-b">Harris </a>has a clear plan to bring high-paying manufacturing jobs back to the U.S., ensuring that Michigan workers remain at the forefront of the global auto industry.
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Startups

Trump Promises More Tariffs While Repeating His Controversial False Claim About Chinese Automakers Building Major Factories In Mexico

The past week has been a whirlwind for&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), with a mix of highs and lows. From concerns over iPhone 16 demand to promising sales figures, regulatory attention from the EU, and expansion plans in Asia, the tech giant has been in the spotlight. Here&#8217;s a recap of the top stories.
iPhone 16 Demand Lower Than Expected
According to top analyst Ming-Chi Kuo, Apple&#8217;s iPhone 16 Pro and Pro Max models experienced lower-than-anticipated demand during the first weekend of pre-orders. Kuo&#8217;s analysis, based on a recent supply chain survey and pre-order data from Apple&#8217;s official websites, suggests a weaker demand for the Pro models.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40872864/apple-staring-at-lower-than-expected-demand-for-iphone-16-pro-and-pro-max-in-the-fi">Read the full article here.</a>
T-Mobile CEO Reports Strong iPhone 16 Sales
Despite earlier concerns, T-Mobile US Inc. CEO Mike Sievert shared promising sales figures for the iPhone 16. In an interview with CNBC&#8217;s Jim Cramer, Sievert revealed that the new model is outperforming last year's model in sales, with customers purchasing higher-end models.
<a href="https://www.benzinga.com/markets/equities/24/09/40932937/apple-iphone-16-selling-at-a-greater-rate-than-last-year-says-t-mobile-ceo-amid-reports-of-lower">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40897716/elon-musk-reacts-after-mark-cuban-says-he-would-buy-x-in-a-heartbeat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Mark Cuban Says He Would Buy X &#8216;In A Heartbeat&#8217;</a>
EU Targets Apple&#8217;s iPhone And iPad Systems
The European Commission has initiated two specification proceedings to help Apple comply with its interoperability obligations under the Digital Markets Act. The move aims to ensure free interoperability to third-party developers and businesses to alleviate the regulator's antitrust concerns.
<a href="https://www.benzinga.com/government/24/09/40943746/after-lightning-port-eu-targets-apples-iphone-and-ipad-systems-demands-greater-access-for-third-part">Read the full article here.</a>
Analyst Unfazed By Early iPhone 16 Demand Trends
Despite initial concerns about demand, Morgan Stanley analyst Erik Woodring remains bullish on Apple. Woodring explains why the early trends should not be a cause for worry, noting that iPhone 16 lead times have doubled from last Friday and have been longer internationally than in the U.S.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40936686/apple-analyst-shrugs-off-lukewarm-early-iphone-16-demand-trends-heres-why-soft-preo">Read the full article here.</a>
Apple&#8217;s Expansion Beyond China&nbsp;JPMorgan analyst Samik Chatterjee reveals that Apple&#8217;s production in India is set to hit 20-25% of total iPhone units by 2027. This move is part of Apple&#8217;s &#8220;China+1&#8221; strategy, reflecting its effort to diversify production away from China amid rising geopolitical tensions.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40927849/apple-expands-beyond-china-to-india-southeast-asia-analyst-warns-of-margin-impact">Read the full article here.</a>
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/09/40812318/samsung-to-reportedly-slash-global-workforce-by-up-to-30-in-certain-divisions-amid-intense-competiti?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Samsung To Reportedly Slash Global Workforce By Up To 30% In Certain Divisions Amid Intense Competition From Apple, Huawei</a>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Image via Shutterstock

Tech

Media

General

iPhone 16 Demand, EU Regulations, And Expansion Plans: This Week In Appleverse

The past week has been a whirlwind of news in the tech world, with artificial intelligence (AI) taking the spotlight. From predictions about AI-powered surveillance to personal digital agents, the future of AI seems to be on everyone&#8217;s mind. Here&#8217;s a quick recap of the top stories that made headlines over the weekend.
Oracle&#8217;s Larry Ellison Foresees AI-Powered Surveillance
Larry Ellison co-founder and CTO of&nbsp;Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) made a bold prediction about the future of law enforcement. He believes that AI will power extensive surveillance systems, leading to constant supervision of police officers and citizens. Ellison stated, "Every police officer is going to be supervised at all times, and if there's a problem, AI will report that problem and report it to the appropriate person."
<a href="https://www.benzinga.com/news/24/09/40892284/oracles-larry-ellison-predicts-police-officers-will-be-supervised-at-all-times-and-citizens-will-be">Read the full article here.</a>
Elon Musk And Nvidia CEO Share Vision Of AI-Powered Personal Assistants
Elon Musk, CEO of Tesla and SpaceX, agreed with Nvidia Corporation&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang&#8217;s vision of a future where individuals will have personal digital agents akin to Star Wars' R2-D2 or C-3PO. Huang shared his vision during T-Mobile&#8217;s Capital Markets Day 2024, expressing excitement about the idea of a computer that grows smarter over time.
<a href="https://www.benzinga.com/news/24/09/40931686/elon-musk-agrees-with-nvidia-ceo-jensen-huangs-vision-of-a-future-where-well-have-our-own-ai-powered">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40897716/elon-musk-reacts-after-mark-cuban-says-he-would-buy-x-in-a-heartbeat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Mark Cuban Says He Would Buy X &#8216;In A Heartbeat&#8217;</a>
LinkedIn Under Scrutiny for Alleged Misuse of User Data
Microsoft Corporation's LinkedIn has come under fire for reportedly using user data for AI training before updating its terms of service. This primarily affected users in the U.S., with those in the EU, European Economic Area, or Switzerland likely exempt due to stringent data privacy rules.
<a href="https://www.benzinga.com/news/24/09/40931968/microsofts-linkedin-in-hot-water-for-allegedly-using-data-of-users-for-training-ai-before-updating-t">Read the full article here.</a>
World Wide Technology CEO Warns Against Misleading Employees About AI
Jim Kavanaugh, CEO of World Wide Technology, warned leaders not to deceive employees about the impact of AI on jobs. He emphasized that employees are "too smart" to believe that AI won't change job dynamics and stressed the importance of transparency.
<a href="https://www.benzinga.com/news/24/09/40932928/billionaire-tech-ceo-says-not-to-bs-employees-they-are-too-smart-to-believe-ai-will-not-impact-their">Read the full article here.</a>
Salesforce CEO Criticizes Microsoft&#8217;s Copilot
Marc Benioff, CEO of Salesforce, criticized&nbsp;Microsoft Corporation's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;Copilot by comparing it to the infamous "Clippy" assistant. Benioff stated that Microsoft's Copilot has not offered any value to customers, likening it to selling science projects to companies.
<a href="https://www.benzinga.com/news/24/09/40954193/salesforce-ceo-marc-benioff-slams-microsofts-copilot-compares-it-to-failed-clippy-assistant-like-wer">Read the full article here.</a>
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<li><a href="https://www.benzinga.com/news/24/09/40940596/matching-nvidia-in-short-term-is-unlikely-analysts-predict-as-china-ramps-up-search-for-rivalling-je?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Matching Nvidia In Short-Term Is Unlikely,&#8217; Analysts Predict As China Ramps Up Search For Rivalling Jensen Huang-Led Chip Giant Amid US Sanctions</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Image Via Shutterstock

Elon Musk And Nvidia CEO Share Vision Of AI-Powered Personal Assistants, LinkedIn Under Scrutiny And More: This Week In AI

The past weekend was filled with riveting news, from a data scientist&#8217;s election forecast to Elon Musk&#8216;s response to the Trump campaign&#8217;s allegations. Here&#8217;s a quick roundup of the top stories that made headlines.
Data Scientist Predicts &#8216;Drastic Landslide&#8217; for Harris
Thomas Miller, a renowned data scientist from Northwestern University, has predicted a significant victory for Kamala Harris in the upcoming presidential election. Miller, who accurately predicted the 2020 presidential and Georgia senatorial races, uses data from political betting sites to make his forecasts, which he claims are more accurate than traditional polls. <a href="https://www.benzinga.com/news/24/09/40950674/data-scientist-who-called-2020-election-correctly-says-its-gone-from-drastic-landslide-in-trumps-dir">Read the full article here</a>.
Elon Musk Reacts to Trump Campaign&#8217;s Allegations
Tesla CEO Elon Musk responded to the Trump campaign&#8217;s release of over 50 examples of Democrats&#8217; rhetoric that allegedly inspired an assassination attempt on former President Donald Trump. Musk&#8217;s reaction was a simple &#8220;No wonder,&#8221; in response to the campaign&#8217;s assertion. <a href="https://www.benzinga.com/news/24/09/40899012/elon-musk-reacts-after-trump-campaign-releases-over-50-examples-of-democrats-rhetoric-that-inspired">Read the full article here</a>.
See Also: <a href="https://www.benzinga.com/news/24/09/40958452/mark-cuban-says-elon-musk-believes-hes-much-smarter-than-trump-reveals-the-intoxicating-reason-why-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says Elon Musk &#8216;Believes He&#8217;s Much Smarter Than Trump,&#8217; Reveals The &#8216;Intoxicating&#8217; Reason Why Tesla CEO Supports Ex-President</a>
Kamala Harris Receives Endorsement from Historic Magazine
Vice President Kamala Harris has received an endorsement from the oldest continuously published magazine in the U.S.- the Scientific American&#8211; for the 2024 presidential election. This endorsement could prove crucial in a tight contest against Donald Trump. <a href="https://www.benzinga.com/general/politics/24/09/40907893/kamala-harris-wins-second-endorsement-in-179-years-from-magazine-that-featured-works-from-nikola">Read the full article here</a>.
Obama-Era Economist Surprised at JD Vance&#8217;s Economic Optimism
Betsey Stevenson, a former economic advisor during the Obama administration, expressed surprise at the economic optimism shown by Donald Trump's running mate JD Vance and his supporters, despite the Federal Reserve's recent rate cut. <a href="https://www.benzinga.com/news/24/09/40931458/obama-era-economist-says-she-is-pleasantly-surprised-that-jd-vance-thinks-the-economy-is-too-strong">Read the full article here</a>.
Elon Musk Suggests Warren Buffett is Preparing for a Harris Win
Tesla CEO Elon Musk suggested that Warren Buffett is positioning for a Kamala Harris win with his $277B cash pile. Meanwhile, pro-Trumper and hedge fund manager John Paulson warned of an equity market exit in the event of a Harris victory. <a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr">Read the full article here</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/09/40965372/fed-delivers-large-interest-rate-cut-in-bid-to-sustain-labor-market-stocks-gold-set-new-record-h">Fed Delivers Large Rate Cut In Bid To Sustain Labor Market; Stocks, Gold Set New Record Highs: This Week In The Markets</a>
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a> 
Image via Wikimedia Commons

Data Scientist's Election Prediction, Kamala Harris Receives Historic Endorsement From Magazine, Elon Musk Suggests Warren Buffett Is Preparing For A Harris Win And More: Top Political Update This Week

The past week was a rollercoaster ride for the financial world, with the Federal Reserve making a bold move, retail sales showing unexpected resilience, and prominent voices sharing their views on the economy. Here&#8217;s a quick recap of the top stories that made headlines.
Federal Reserve Slashes Interest Rates
In a surprising move, the Federal Reserve cut interest rates by 0.5% at its September Federal Open Market Committee meeting, marking the first rate cut in over four years. This decision, which broke a 12-month streak of steady rates, caught Wall Street analysts off guard as they had anticipated a more modest 25-basis-point cut. <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">Read the full article here</a>.
Obama-Era Economist Surprised by JD Vance&#8217;s Economic Optimism
Betsey Stevenson, a former economic advisor in the Obama administration, expressed her astonishment at Donald Trump's running mate J.D. Vance and his supporters' economic optimism despite the Federal Reserve's recent rate cut. Stevenson stated, "I have to admit that I am pleasantly surprised that J.D. Vance and his supporters think the economy is too strong for the rate cut." <a href="https://www.benzinga.com/news/24/09/40931458/obama-era-economist-says-she-is-pleasantly-surprised-that-jd-vance-thinks-the-economy-is-too-strong">Read the full article here.</a>
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Retail Sales Rise More Than Expected
U.S. retail sales rose more than expected by 0.1% month-over-month in August, signaling a resilient consumer spending momentum in the middle of the third quarter. This increase, which was more than anticipated, could boost the chances of a smaller interest rate cut. <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40897882/retail-sales-rise-0-1-in-august-more-than-expected-boosting-odds-of-larger-fed-ra">Read the full article here</a>.
Analyst Warns of Stagflation After Fed&#8217;s Rate Cut
Following the Federal Reserve&#8217;s deep 50 basis-point cut to its Fed funds rate, an analyst warned of a return of recession along with stagnation. GLJ Research's Gordon Johnson stated, "Get ready for stagnation," adding that this is the "inflation is Transitory" mistake all over again. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40955933/brace-for-stagflation-after-feds-benevolence-warns-analyst-raising-5-corporate-red-">Read the full article here</a>.
Ray Dalio Highlights Challenges for the Fed
Billionaire investor Ray Dalio pointed out the difficulties faced by the U.S. Federal Reserve as it navigates interest rate cuts amid a heavily indebted economy. Dalio emphasized that the Fed must balance keeping interest rates high enough to benefit creditors while not excessively burdening debtors. <a href="https://www.benzinga.com/news/24/09/40934156/billionaire-ray-dalio-warns-fed-faces-tough-road-ahead-balancing-interest-rate-cuts-and-enormous-us">Read the full article here</a>.
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Image via Pexels/ Pixabay
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a>

Economics

Federal Reserve

Federal Reserve's Bold Rate Cut, Retail Sales Rise And More: This Week In Economics

<h3 class="wp-block-heading">Why Hidden Debt Matters</h3>
Investors often focus on basic financial figures, but it's essential to consider hidden debt when evaluating a company's true worth.&nbsp;
Insights from<a href="https://www.benzinga.com/topic/viridian-capital-advisors"> Viridian Capital Advisors</a> reveal that overlooked liabilities can significantly change how we view a company&#8217;s value, making it crucial to dig deeper.
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<h3 class="wp-block-heading">Viridian's Approach To Valuation</h3>
Typically, enterprise value (EV) is calculated using standard methods. However, Viridian takes a more thorough approach by including lease obligations and overdue tax payments.&nbsp;
They also consider long-term tax liabilities that companies have yet to address. This results in a higher debt figure and leads to revised calculations that show companies may be more valuable than initially thought.
<h3 class="wp-block-heading">The Impact On Investor Decisions</h3>
A recent graph compares traditional valuation methods with <a href="https://dealtracker.viridianca.com/valuation-tracker-by-industry-sector/">Viridian's updated figures</a>. Companies that appeared cheap may be less undervalued than previously believed, particularly those burdened by significant lease or tax liabilities.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="687" height="603" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20185609/unnamed-5.png" alt="" class="wp-image-559343" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20185609/unnamed-5.png 687w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20185609/unnamed-5-300x263.png 300w" sizes="(max-width: 687px) 100vw, 687px" /><figcaption class="wp-element-caption">Courtesy of Viridian Capital Advisors </figcaption></figure>
<h3 class="wp-block-heading">Market Perception of Undervalued Cannabis Stocks</h3>
Companies like Planet 13 Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PLNH#OTC">PLNH</a>) and MariMed (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTC">MRMD</a>), which initially appeared undervalued based on traditional EV/EBITDA multiples, saw significant valuation increases when Viridian Capital&#8217;s augmented EV calculations factored in hidden debt. This reveals that investors who overlook these liabilities might mistakenly view these companies as more attractive investments than they truly are.
<h3 class="wp-block-heading">Impact of Debt on Investor Sentiment</h3>
In contrast, companies such as Schwazze (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SHWZ#OTC">SHWZ</a>), Vext Science (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VEXTF#OTC">VEXTF</a>), and Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTII#OTC">GTII</a>) show minimal changes in valuation, suggesting cleaner balance sheets that could strengthen investor confidence.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/09/40880241/5-reasons-why-lower-interest-rates-could-boost-the-cannabis-industry">5 Reasons Why Lower Interest Rates Could Boost The Cannabis Industry</a>

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Don't Let Hidden Debt Fool You: How Cannabis Investors Can Tell If They Are Safe

In a dramatic turn, Aurora Cannabis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) announced its breakup with Uruguay, closing operations by the end of September 2024. Acquired for $263 million in 2018, Aurora&#8217;s exit underscores a harsh reality: the market failed to meet its criteria for future growth, dashing hopes of becoming a leader in medical marijuana and hemp production.
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<h3 class="wp-block-heading">Challenges In Paradise</h3>
Despite its potential, <a href="https://www.benzinga.com/markets/cannabis/24/09/40958522/multi-million-dollar-cannabis-facility-auctioned-for-the-price-of-a-studio-apartment-whats-going">Uruguay's cannabis industry</a> has struggled with costly production and stagnant sales. The country faced numerous challenges, including a limited variety of strains and restricted THC flower availability, which hindered product diversity and the development of a robust supply chain. 
Additionally, a lack of regulations to transition cannabis clubs into dispensaries and to support cannabis tourism stifled growth. Ultimately, the government&#8217;s failure to respond to market signals for a more open and diverse cannabis market has contributed to the industry's stagnation, mirroring issues seen in <a href="https://www.benzinga.com/topic/colombia-cannabis">Colombia</a>&#8216;s bottlenecked retail segment.
Since legalizing marijuana over a decade ago, the country has seen less than $30 million in exports, while other sectors thrive.&nbsp;
The lack of a robust business framework, compounded by regulatory hurdles, has <a href="https://www.batimes.com.ar/news/latin-america/marijuana-companies-are-fleeing-uruguay-the-first-nation-that-legalized-recreational-marijuana.phtml">driven</a> many companies—including Pharmin and Global Cannabis Holdings—out of the market.
<h3 class="wp-block-heading">Exclusive Comments &nbsp;</h3>
An Aurora spokesperson told Benzinga Cannabis, "Our decision to exit Uruguay is part of a strategic focus on optimizing our global operations and concentrating resources on core markets that support sustainable growth."&nbsp;
The spokesperson emphasized Aurora's commitment to positive cash flow. "We are prioritizing investments in markets where we can achieve sustainable profitability." 
The person added that the decision aligns with Aurora's goal of long-term value creation for shareholders. "Our operations in Uruguay, managed through our wholly owned subsidiary ICC Labs, did not meet the criteria for our future growth strategy."
The spokesperson concluded, "While we recognize the challenges in Uruguay, we remain focused on leading in regulated markets like Canada, Germany, Poland, <a href="https://www.benzinga.com/topic/uk-cannabis">the UK</a>, and <a href="https://www.benzinga.com/topic/australia-cannabis">Australia</a>."
<h3 class="wp-block-heading">Aurora Turns The Page Focused On Global Markets&nbsp;</h3>
Aurora Cannabis continues to solidify its position in the global cannabis market, accounting for over 30% of Canada's medical <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40512437/aurora-cannabis-dominates-30-of-canadas-medical-marijuana-exports-will-its-bold-int">marijuana exports</a>. In the first half of 2024, international sales reached $28.9 million (C$39.3 million), driven by key markets such as Australia and <a href="https://www.benzinga.com/topic/germany-cannabis">Germany</a>, following the full acquisition of <a href="https://www.benzinga.com/markets/cannabis/24/02/37185129/aurora-cannabis-acb-canaccord-genuity-analysts-say-nows-the-time-to-buy-find-out-why">MedReleaf</a>.&nbsp;
In August, the company <a href="https://www.benzinga.com/markets/cannabis/24/08/40219701/aurora-cannabis-shares-jump-on-q1-fy25-earnings-global-medical-marijuana-yields-record-revenue-o">reported</a> a cash position of approximately $134 million (C$182 million) and a positive free cash flow of $4.8 million (C$6.5 million) in Q1 FY2025.&nbsp;
Management anticipates that with adjusted EBITDA up 87% year-over-year, Aurora&#8217;s focus on high-margin medical cannabis will drive growth and profitability in the coming quarters.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/09/40958672/aurora-cannabis-ceo-takes-on-dual-role-heres-whats-behind-the-leadership-change">Aurora Cannabis CEO Takes On Dual Role: Here&#8217;s What&#8217;s Behind The Leadership Change</a>

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NASDAQ-Listed Aurora Cannabis Breaks Up With Uruguay: It's Not You, It's The Market

Anthony Scaramucci, who worked very briefly as White House Communications Director under former President Donald Trump, in an interview published on Wednesday shared his insights into the <a href="https://www.benzinga.com/news/24/09/40913930/kamala-harris-moves-from-13-point-deficit-to-7-point-lead-over-trump-in-survey-of-fund-managers-stra">2024 presidential race</a>.
Impressed With Harris: Vice President Kamala Harris has done a good job so far despite her late-entry into the race, said Scaramucci in an <a href="https://www.wsj.com/video/events/anthony-scaramucci-on-harris-vs-trump/C105B408-F8D1-4E0C-8B21-79D02BF0E52D.html?mod=WSJvidctr_upnext_pos0">interview</a> with The Wall Street Journal. When President Joe Biden decided to quit the race and endorsed her, she had to simultaneously do three things &#8211; merging her staff with his re-election team, get the delegates to commit to her and also find a way to be respectful to the president, he said.
The vice president had to get the nomination, knocking the other potentially contenders, and prepare for the debate as well, he said. &#8220;I think she's done an incredible job in a very short period of time,&#8221; he added. 
The critics may still point out that she needs to do more interviews, flesh out her economic agenda and speak with greater clarity about what she wans to do, what her vision is, Scaramucci said. All that is coming and she started the process but she may not do as many interviews as the media would like, he said.
&#8220;If you think about where she was on July 21st and where she is here in the middle of September I think II would give her an A plus in terms of her execution,&#8221; he added.
See Also: <a href="https://www.benzinga.com/news/24/09/40936316/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pro-tr">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile As Pro-Trumper John Paulson Warns Of Equity Market Exit</a>
How Harris Differs: Scaramucci said the vice president differed from Trump in building a team or coalition. &#8220;If you like President Trump&#8230;. you sort of know what you're getting. You're getting a team of one. It's him. He's in the spotlight,&#8221; the ex-White House aide said.
Trump doesn&#8217;t like other people speaking for him, which was evident when he rebuked his running mate Sen. JD Vance (R-Ohio) during the debate for speaking for him, Scaramucci said. Harris has gone now to a very broad group of people and asked for help from Republicans and Democrats on debate prep, he added. 
To make his case, Scaramucci noted that he, who was a lifelong Republican, was called to go into the spin room and advocate on her behalf, and she got the endorsement of former Republican Congresswoman Liz Cheney and her father and former Vice President Dick Cheney.
&#8220;Think of the coalition that she's building and and think about her willingness to do that,&#8221; he said.
3 Focal Points: Scaramucci said irrespective of who wins, three things are important. The next president should strengthen U.S.&#8217; alliances and move toward the allies and not away from them. &#8220;That would send a very big message to the world that America is committed to peace and long term prosperity for our trading partners and for the cause of freedom around the world,&#8221; he said. Trump, meanwhile, wants to go toward isolationism, he added.
Secondly, the U.S. has to address the<a href="https://www.benzinga.com/general/macro-notification/24/04/38337484/is-the-us-national-debt-unsustainable-we-cant-have-a-deficit-of-7-of-the-gdp"> looming debt crisis, </a>Scaramucci said. &#8220;When you are spending over a trillion dollars of tax receipts on interest payments and you're looking at $2 trillion deficits a year we have to do something about that and we can fix that&#8230; but it would take 15 or 20 years,&#8221; he said. He called upon Americans to back the political leader who is offering a 10-20 year plan to right-size the deficits. 
The third important thing would be to redo the tax code to create more economic incentives for growth in the blue states, Scaramucci said. The state and local income tax deduction limitation that the Trump administration put in, in Dec. 2017 has hurt the overall economy, he said.
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Scaramucci: Donald Trump Is A 'Team Of One', Kamala Harris Has 'Done An Incredible Job'

Arab-American voters, represented by 31-year-old Palestinian American Ruwa Romman, face a complex <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">dilemma this election season</a> in Georgia.
Romman, a legislator in the swing state, was nominated to represent the Uncommitted National Movement, <a href="https://www.aljazeera.com/features/longform/2024/9/18/denied-the-democratic-convention-stage-ruwa-romman-focuses-on-whats-next" target="_blank" rel="noreferrer noopener">reported</a> Al Jazeera. This protest initiative aims to urge Democratic presidential nominee Kamala Harris to reconsider her support for Israel&#8217;s actions in Gaza.
While she planned to share her family&#8217;s story at the Democratic National Convention in mid-August, she didn&#8217;t get the chance.
Nonetheless, her advocacy outside the convention has propelled her into the national spotlight.
Romman embodies the struggle many Arab-Americans experience as they balance their support for the Democratic Party with criticism of its largely pro-Israel platform.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40969619/trump-ally-sarah-huckabee-sanders-jabs-kamala-harris-for-not-having-biological-children-doesnt-have" rel="noreferrer noopener">Trump Ally Sarah Huckabee Sanders Jabs Kamala Harris For Not Having Biological Children: &#8220;Doesn&#8217;t Have Anything Keeping Her Humble!&#8221;</a>
Romman was among three speakers proposed by the movement to convey the Palestinian experience at the convention.
In an interview with Al Jazeera, she mentioned that, had she been allowed to speak, her address would have included an endorsement for Harris.
Romman viewed her potential speech as a chance to humanize the plight of Palestinians, who have lost over 41,250 lives in the ongoing conflict. When questioned about whether she would rule out endorsing Harris, Romman indicated that she didn&#8217;t have a definite answer. She mentioned that she had extended her endorsement, but noted that neither the Harris campaign nor the DNC acknowledged it.
Regarding the issue of an official endorsement, she remarked that it was more a matter for them to decide, rather than for her.
Born in Jordan, Romman made history in 2022 as the first Muslim woman elected to the Georgia State House of Representatives. She was part of a record wave of 153 Muslim-American candidates who won office during that year&#8217;s midterm elections.
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Georgia's Ruwa Romman: First Muslim Woman in State House Navigates Complex Political Landscape

<a href="https://www.benzinga.com/topic/kevin-oleary">Kevin O'Leary</a>, the outspoken investor known as <a href="https://www.benzinga.com/startups/24/09/40839130/were-looking-for-a-real-a-e-and-youre-in-kevin-oleary-on-how-he-got-his-infamous-shark-tank-role">&#8220;Mr. Wonderful&#8221; from Shark Tank</a>, didn't always plan on being a business mogul. His first love was something completely different: photography.&nbsp;
Fresh out of high school, Kevin dreamed of turning his passion into a career. He even set up a lab in his basement and was doing everything he loved. But his father had a harsh dose of reality for him.
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"You're not good enough and you'll starve to death," his dad bluntly told him. His father pushed him to go to college and earn a degree, telling him not to follow his heart. This tough love turned out to be some of the best advice Kevin could have received, even though it might have felt like his aspirations were being dashed.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">When I first wanted to be a photographer, My dad told me I wasn&#39;t good enough—I&#39;d starve. So, I got an MBA and ended up building and selling a company for $4.2 billion. It all came together—business, creativity, and the drive to win. I wouldn&#39;t change a thing. <a href="https://t.co/Xv8ttJFk2V">pic.twitter.com/Xv8ttJFk2V</a>
&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1836031341428633623?ref_src=twsrc%5Etfw">September 17, 2024</a></blockquote>
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Kevin took his father's advice and went to college, eventually earning an MBA. Though it wasn't part of his original plan, this degree would later be a game-changer. He soon found a way to merge his passion for photography and production with his business skills, launching his first company, Special Event Television, which produced programming for East Coast hockey games.
That first venture set the stage for a highly successful career. Kevin and his co-founders eventually sold the company and Kevin used the money to start his next venture, a software business called Softkey, which he later sold for $4.2 billion.
Trending: Unlock a $400 billion opportunity by investing in the future of EV infrastructure on<a href="https://www.benzinga.com/money/dunamis-1"> this startup already valued at $50 million with just $500</a>.
Still in his mid-30s,<a href="https://www.benzinga.com/startups/24/09/40776473/it-was-boring-kevin-oleary-explored-every-beach-on-earth-after-he-first-got-rich-but-the-highs-and-l"> Kevin decided to retire</a> and live the kind of financially independent life that most of us can only imagine. He traveled the world, visiting the most beautiful beaches and other stunning locations. However, something unexpected happened – he found himself bored in spite of the luxury and endless travel. &#8220;I went to every beach on Earth,&#8221; he says, but after three years, &#8220;It was really boring.&#8221;
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The excitement of creating something, taking chances and participating in the business world was something he missed. Retirement proved unsatisfactory, even though it seemed like the ultimate goal.
Apart from his father giving him tough advice, Kevin also credits his mother for giving him some of the best financial advice he ever received. <a href="https://www.benzinga.com/general/24/05/39037170/shark-tanks-kevin-oleary-declares-the-best-advice-he-ever-received-from-his-mom-spend-the-interest-n">She taught him</a> and his brother a simple but effective lesson: "Boys, never spend the principal, only the interest." Although he didn&#8217;t fully understand it then, this lesson has guided him throughout his life and career.
Kevin O'Leary's life story shows that success typically doesn't follow a straight line but often involves following difficult-to-hear advice.
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Kevin O'Leary's Dad Warned Him He'd 'Starve To Death' If He Pursued His Passion. Getting An MBA Ended Up Changing His Life

<a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a> returned to North Carolina on Saturday to campaign in Wilmington, a key battleground in the upcoming November election.
However, he was without Lt. Gov. Mark Robinson, the GOP gubernatorial nominee and one of Trump&#8217;s primary supporters in the state, <a href="https://apnews.com/article/trump-mark-robinson-north-carolina-wilmington-1bc79594567860c9ffe7f44375fac847" target="_blank" rel="noreferrer noopener">reported</a> AP News.
A CNN <a href="https://edition.cnn.com/2024/09/19/politics/kfile-mark-robinson-black-nazi-pro-slavery-porn-forum/index.html" target="_blank" rel="noreferrer noopener">report</a> on Thursday regarding Robinson&#8217;s inflammatory remarks about race, gender, and sexual orientation <a href="https://www.benzinga.com/news/24/09/40968051/republicans-in-damage-control-mode-after-mark-robinsons-remarks-spark-concern-for-trump-campaign-goi" target="_blank" rel="noreferrer noopener">has left the Republicans scrambling</a>.
As per the CNN report, Robinson commented on a pornography website&#8217;s message board, where he self-identified as a &#8220;Black Nazi&#8221; and expressed a desire for the return of slavery.
Democrats, on the other hand, are highlighting Robinson&#8217;s connections to other candidates, including Trump, who has previously praised the North Carolina lieutenant governor.
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Robinson was not scheduled to attend the Wilmington event, said AP News, citing two individuals with knowledge of the situation, who requested anonymity.
Although Robinson secured victory in his GOP gubernatorial primary back in March, he has fallen behind Democratic nominee Josh Stein, the state attorney general, in several recent polls.
State Republican leaders continue to support Robinson, but his choice to persist with his campaign might jeopardize the GOP&#8217;s chances in other crucial races, including Trump&#8217;s efforts in a battleground state he has won twice before.
Trump has consistently expressed admiration for Robinson, a Black politician, calling him a figure reminiscent of Martin Luther King, but with added intensity. When endorsing Robinson prior to the GOP gubernatorial primary, Trump stated that he believes Robinson surpasses King in significance, AP News added.
While presidential candidates have focused more on the Rust Belt states like Pennsylvania, Michigan, and Wisconsin, both Trump and Harris have made several visits to North Carolina, underscoring the state&#8217;s significance.
After Biden exited the race in July, Trump organized his first major rally there, shifting his attention entirely toward Harris.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Controversial Ally Mark Robinson Absent From Donald Trump Rally In Pivotal North Carolina

Mary Trump, a psychologist and author, last week shared her thought on her uncle <a href="https://www.benzinga.com/topic/donald-trump">Donald Trump</a><a href="https://www.benzinga.com/topic/donald-trump">&#8216;s</a> psychology and also the media sane-washing him.
Lover Of Violence: Mary Trump called her uncle a lover of violence, especially when it is committed on his behalf, <a href="https://www.marytrump.org/p/the-bringer-of-violence">said</a> Mary Trump in a Substack post. Weighing in on a second assassination attempt against the former president, she noted that it was only a few days before the incident that he refused to condemn the bomb threats, school evacuations, and general sense of terror in Springfield, Ohio, that he and his running mate Sen. JD Vance (R-Ohio) have unleashed by their &#8220;vicious targeting of Haitian immigrants who live and work there.&#8221;
&#8220;Threats of violence and actual violence from the right are now a regular part of our political discourse and behavior —Donald makes sure of that on an almost daily basis,&#8221; she said.
Mary Trump noted that in early days of her uncle&#8217;s 2016 campaign, he encouraged rally goers to assault protesters. &#8220;Before and during the assault on the Capitol on Jan. 6, 2021, Donald encouraged and stoked violence and people listened,&#8221; she said. 
&#8220;Every day, Americans pay the price while Donald sets the world on fire with his provocations and then spends the day playing golf, completely insulated from the chaos he sows,&#8221; she added.
The former president believes that the only way to maintain his grip on power is to &#8220;keep us divided, angry, and afraid,&#8221; Mary Trump said.
&#8220;America can't go on like this,&#8221; she said, adding that &#8220;I worry about what will happen in the next 50 days and the uncertain weeks that will follow.&#8221; 
See Also: <a href="https://www.benzinga.com/content/40955366/anthony-scaramucci-says-trumps-3-legged-stool-strategy-of-racism-misogyny-and-anti-immigration-will">Anthony Scaramucci Says Trump&#8217;s 3-Legged Stool Strategy Of &#8216;Racism, Misogyny And Anti-Immigration&#8217; Will Misfire: Here&#8217;s What Would Seal The Deal For Kamala Harris</a>
Sane-washing Trump: Mary Trump also <a href="https://www.youtube.com/watch?v=fzAaOdvkIDw">shared</a> a MSNBC interview in which she discussed about the media sane-washing Donald Trump. &#8220;They are just pretending that he said these understandable, coherent things but much worse than that they are imbuing his meaningless statements with meaning that is not there,&#8221; she said. This makes the former president more serious and less delusional than he actually is, she added.
For years now, it has been told that some of the most disqualifying things about Donald Trump are baked in and so nobody cares about them anymore, the psychologist said. But she called it as a &#8220;wrong take.&#8221; This &#8220;gives him an enormous advantage because he can do anything and we are all just supposed to assume that that&#8217;s just fine and it gives him permission to get away with worse,&#8221; she said. 
Although this isn&#8217;t anything new, it is now just increasingly less hinged, more delusional, more dangerous, Mary Trump said, adding that the people he surrounds himself with have always been awful, they too are becoming more dangerous to democracy and to American citizens.
Mary Trump also delved into her uncle&#8217;s claims about <a href="https://www.benzinga.com/news/24/09/40937559/jd-vances-unverified-rumors-about-haitian-immigrants-stir-gop-discomfort-distracting-from-real-issue">Haitian illegal immigrants eating pets in Springfield, Ohio</a>. This is just the latest example of something he has been doing for years. This is stochastic terrorism,&#8221; she said, adding that this is deadly serious.
&#8220;Donald Trump has and will get people killed because of his dangerous rhetoric and the fact that he is willing to stop at nothing if he thinks demeaning the most vulnerable people among us is going to get him another vote,&#8221; Mary Trump said.
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Mary Trump Says Americans Pay The Price As Her Uncle Sets World On Fire With His Provocations: 'I Worry About What Will Happen'

Wall Street is rejoicing as the Federal Reserve&#8217;s half-point rate cut triggers a market rally, even amidst rising apprehensions <a href="https://www.benzinga.com/general/market-summary/24/08/40429168/s-p-500-records-best-week-of-the-year-amid-favorable-economic-reports-what-really-drove-th">about inflated valuations</a>.
What Happened: The Federal Reserve&#8217;s lenient approach has uplifted the economic forecast, resulting in a jump in U.S. stocks and commodities, and a reduction in bond market volatility. 
The Nasdaq 100 experienced its most significant two-week surge since November, dismissing worries that the Fed chief had postponed concluding a two-year fight against inflation.
Nonetheless, inflated valuations are emerging as a substantial hurdle, leaving little margin for mistakes if any event disrupts investors&#8217; large-scale bets, <a href="https://www.bloomberg.com/news/articles/2024-09-20/risk-appetites-rage-as-powell-proves-hero-in-high-priced-markets?srnd=homepage-americas&amp;sref=TBDibEcD">reports</a> Bloomberg.
A model adjusting S&amp;P 500 earnings yields and 10-year Treasury rates for inflation suggests that cross-asset pricing is now higher than at the commencement of all previous 14 Fed easing cycles, typically linked with recessions.
Also Read: <a href="https://www.benzinga.com/news/24/08/40541128/fed-chair-powells-signal-sets-stage-for-rate-global-central-banks-hint-at-interest-rate-cuts-in-revi">Fed Chair Powell&#8217;s Signal Sets Stage For Global Rate Cuts As Central Banks Aim To Revive Economy</a>
Lauren Goodwin, economist and chief market strategist at New York Life Investments, cautions that while high prices are just one factor contributing to a multifaceted market environment, they amplify market vulnerability if any other aspect goes awry.
U.S. stocks surged, propelling the S&amp;P 500&#8217;s total return for 2024 above 20%. The index leaped 1.7% on Thursday, marking its 39th record close of the year, following the Fed&#8217;s rate cut and data indicating labor market resilience.
However, many stock-valuation measures are stretched, including the Buffett indicator, which divides the total market capitalization of U.S. stocks by the total dollar value of the nation&#8217;s GDP. This indicator is near a record high, at a time when Warren Buffett has recently downsized some high-profile equity holdings.
Why It Matters: Despite these concerns, the rally in U.S. stocks persists, justified by earnings growth keeping pace with high valuations.
However, the potential for disappointment is high in the Treasury market, where futures trading continues to anticipate more interest-rate cuts than Fed policymakers themselves see as likely over the next year.
Read Next
<a href="https://www.benzinga.com/news/24/08/40431394/brighter-outlook-goldman-sachs-optimistic-on-u-s-economy-cuts-recession-risk-down-to-20" target="_blank" rel="noreferrer noopener">Brighter Outlook: Goldman Sachs Optimistic On U.S. Economy, Cuts Recession Risk Down To 20%</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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