The Kids Are NOT Alright πŸ“š 🍎

You’ve probably heard of TikTok challenges. But have you heard about the havoc they’re wreaking in U.S. schools?

Over the last year, challenges like devious licks (students steal and vandalize property) have spread like wildfire throughout schools in the U.S. But now, challenges like β€˜slap a teacher’ have teachers at their breaking points.Β 

Bathrooms in schools throughout the country are flooded, vandalized, and wrecked. And teachers are finally speaking up β€” the President of the National Education Association, Becky Pringle, sent a letter to the CEOs of TikTok, Facebook, and Twitter in an effort to address the chaos. Pringle wrote:

β€œ…online β€˜trends’ and false information have spread like wildfire throughout social media platforms. From stealing school property and hitting school staff, to conspiracy theories on curriculum and coronavirus protocols – have helped create a culture of fear and violence with educators as targets.”

TikTok announced its intention to remove hashtags related to destructive behavior as the platform is in agreement with educators: β€œThe rumored β€˜slap a teacher’ dare is an insult to educators everywhere.”

After a year of lockdowns, both students and teachers alike are adjusting to being back in the classroom. And it’s apparently not going very well. 😬

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World Bank Warns About Growth

The World Bank says the global economy is on course to record its worst half-decade of growth in about 30 years. 😬

The organization’s “Global Economic Prospects” report is now forecasting global growth to slow for the third year in a row during 2024, falling from 2.6% last year to 2.4%. Even if it rises to 2.7% in 2025, the acceleration over the last five-year period will be about 0.75 percentage points below the average rate of the 2010s.

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The Housing Market Horror Continues

We’ve written extensively about the U.S. housing market’s troubles over the last eighteen months. But we saw a visual created by Michael McDonough and shared by Cullen Roche that really highlights just how rough things have gotten for homebuyers. 😬

Below is a chart that looks to track an “average” home purchase over the last 20+ years. It calculates the monthly mortgage payment using median existing home prices, assuming a 20% down payment and average 30-year mortgage rates.

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Producer Prices’ Third Straight Rise

After twelve straight months of year-over-year declines, producer prices have stabilized and are back on the rise these last three months. That, combined with the stickiness in core consumer prices, has investors wondering if inflation could return from the dead. 😬

The headline producer price index (PPI) rose 0.5% MoM and 2.2% YoY in September. Excluding food and energy, core PPI rose 0.3% MoM as services drove the larger-than-expected increase. πŸ”Ί

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U.S. Jobs Data Back In Focus

The bond market continued to rally during a busy day of economic data, with October’s JOLTs data standing out to investors. Let’s recap it all. πŸ‘‡

First off, October’s Job Openings and Labor Turnover Survey (JOLTS) signaled a continued slowdown in the labor market. Job openings fell to their lowest level since March 2021, at 8.7 million, while the ratio of openings to available workers ticked down to 1.3:1. That’s well below its peak of 2.0:1 set earlier in the year. πŸ“‰

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