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America's 'Silver Tsunami' Is Here

Your unbiased daily news brief

Author

James Kratch
February 20, 2024

Good morning and happy Tuesday! The yellow school bus is arguably the most iconic vehicle in America. But, data suggests, it is quickly becoming obsolete. Fifty-three percent of U.S. students were driven to school in private cars in 2022, according to The Washington Post. Just 33% rode the bus and 11% walked or rode a bike. Times change. Have a great day!

In Today’s Brief

  • Biden: Now open to meeting with Johnson

  • Gaza: U.S. proposes new UN resolution

  • Trump: Maintains huge lead in SC polls

  • Capital One: Strikes deal to buy Discover

  • Nintendo: Switch 2 delayed to 2025

... and more

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Top Tips

1) Hitting 65

Get ready for the "silver tsunami."

  • What's happening: A record-setting 4M Americans will turn 65 this year and reach the traditional retirement age. It is the start of a surge among Baby Boomers expected to last several years.

  • Plans change: People turning 65 today are typically in better health and want to continue working. But they also have to wait longer to claim their full monthly Social Security benefits and lack the guaranteed lifetime incomes their parents enjoyed. That said, retirements are on the rise nationally due to return-to-office policies and a strong stock market.

  • Also consider: Analysts believe as many as 30M homes could hit the market over the next decade as this demographic plays out. That and future interest rate cuts could make home-buying more accessible for younger people.

2) November fears

Local and national officials are sounding alarms roughly nine months before Election Day.

  • Physical safety: A recent national convention focused on harassment and threats against local poll workers. Local election mechanisms have been the subject of conspiracy theories in recent years amid a rise in the targeting of public workers and elected officials.

  • Cyber crimes: The FBI has warned secretaries of state nationwide to remain vigilant against cyberattacks on election infrastructure. Voter databases could be targeted by phishing and ransomware by domestic and foreign actors.

  • AI concerns: The Department of Justice has said artificial intelligence-created disinformation could sow chaos. Twenty major tech companies, including Amazon, Google, Meta, OpenAI and TikTok, have pledged to fight deepfakes.

3) Blast from the past

The Department of Justice may be on the urge of finally securing WikiLeaks founder Julian Assange's extradition.

  • Catch up: Assange, an Australian computer expert, faces 18 charges over WikiLeaks' 2010 publication of thousands of classified documents. The U.S. says he committed espionage; he and his supporters say he is a journalist protected under the First Amendment's press freedoms.

  • The hearing: Assange has spent over a decade in London -- seven years living in the Ecuadorian embassy under asylum and five in a British prison battling extradition. The High Court has scheduled two days of arguments on his status starting today; a ruling against his appeal could send him across the Atlantic.

  • Big picture: It is hard to forecast how the hearing will unfold given the many twists and turns in the saga over the years. Extradition could be an election-year wrinkle for myriad reasons, including press freedom debates and Assange's role in accusations of Russian collusion made during former President Donald Trump's first campaign.

Quick Tips

U.S. News

  • President Joe Biden is willing to meet with Speaker of the House Mike Johnson amid a congressional stalemate on Israeli and Ukrainian foreign aid. The White House previously rejected direct talks (More)

  • There were more overdose deaths while smoking drugs than injecting them last year, according to the CDC. An increase in users smoking fentanyl could be responsible for the data (More)

  • California has released plans to phase out fracking in the state. Gov. Gavin Newsom pledged to end the practice in 2021; fracking accounted for about 17% of gas and 12% of oil in the state in 2020 (More)

World News

  • The U.S. proposed a United Nations Security Council resolution calling for a temporary Gaza war ceasefire "as soon as practical." The resolution also opposes a ground offensive in Rafah (More)

  • Global military spending increased 9% YoY in 2023, reaching a value of $2.2T. The U.S. accounted for 41% of defense spending worldwide; China made up 10% (More)

  • An American man admitted to raping and murdering a woman and injuring another woman outside a castle in Germany. The man also confessed to possessing child sex abuse material (More)

Campaign News

  • Former President Trump still leads former South Carolina Gov. Nikki Haley by a wide margin in polls for Saturday's GOP primary in the state. No recent poll has Haley within less than 22 points of Trump (More)

  • Wisconsin Gov. Tony Evers signed new legislative district maps into law. The maps will likely boost Democrats' electoral fortunes in the swing state (More)

  • New York Times Publisher A.G. Sulzberger defended the newspaper's reporting on President Biden's age. Sulzberger said the White House is "extremely upset" with the coverage (More)

Business & Markets

  • Capital One will buy Discover for $35B, a major coup for the bank in the credit card market. If the deal is finalized, Capital One shareholders will own 60% of the combined company while Discover shareholders have 40% (More)

  • The Biden Administration awarded a $1.5B grant to GlobalFoundries to build a computer chip plant in New York state and renovate two others. It is part of a $52B plan to strengthen domestic semiconductor production (More)

  • Goldman Sachs has revised its S&P 500 forecast for this year. Strategists now expect the tech-heavy index to hit 5.2K points, which would be a 3.9% rise from Friday's close (More)

Entertainment & Sports

  • Nintendo will not release the Switch 2 gaming console until 2025. Analysts had expected its release later this year; the company’s stock dropped on the Tokyo Exchange (More)

  • William Byron won the 66th Daytona 500 after a crash-filled end to the race. Hendricks Motorsports tied the team record with its ninth win in the NASCAR event (More)

  • Ridley Scott is in talks to direct and produce a Bee Gees biopic. The long-awaited film about the Australian musical group has dealt with several development setbacks (More)

Quick Hitters

  • Take Note: A new study says excessive intake of niacin could cause an increased risk of cardiovascular disease. The B vitamin is abundant in staple foods like cereals, flour and oats and is prescribed to counter high cholesterol.

  • Work Out: Should you exercise in the morning or at night? Any time is a good time to work out, experts say, but different time windows can provide different benefits.

  • Deep Dive: Non-alcoholic beer is growing in popularity as fewer people drink. But brewing innovations that make the product taste better have also contributed.

  • Go Figure: The names of your favorite foods may change depending on where you are in the country, especially if you cross the Rocky Mountains. It is a quirky relic of past mergers and more.

  • Life Hack: Did you know your hotel room ironing board is the perfect suitcase stand? Be sure to check out these smart travel hacks before your next trip.

  • Be Well: Pop quiz: What’s the body’s most abundant protein? The answer: Collagen. NativePath's Certified Grass-Fed Collagen Powder is made from grass-fed, pasture-raised cows and contains 18 grams of protein per suggested serving. Start incorporating it daily to support skin elasticity, joint health, bone strength, and muscle growth and maintenance.*

*Sponsored

Lab-grown diamonds or real diamonds? This video examines the growing cultural, ethical and financial conundrums.

Looking Ahead …

If you have ever wanted to live on Mars and have the necessary qualifications, this is your big chance. NASA needs four volunteers for a year-long simulated mission to the Red Planet starting next year. You have until April 2 to apply and must fit strict academic and experience criteria. And be willing to live with three other people inside a small habitat isolated from the outside world.

Question of the Day

Do you think you could handle a year-long Mars simulation?

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