{"id":17003,"date":"2025-07-23T03:15:12","date_gmt":"2025-07-23T03:15:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/17003\/"},"modified":"2025-07-23T03:15:12","modified_gmt":"2025-07-23T03:15:12","slug":"10-sunday-reads-the-big-picture","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/17003\/","title":{"rendered":"10 Sunday Reads &#8211; The Big Picture"},"content":{"rendered":"<p>Avert your eyes! My Sunday morning\u00a0look at incompetency, corruption and policy failures:<\/p>\n<p>\u2022 Venture Capital Firms Bet Big on Gambling. Now They\u2019re Banking on the Addictions. U.S. VC firms have invested $2 billion in gambling businesses in recent years. At least six of the firms are simultaneously betting on problem gambling treatments. (<a href=\"https:\/\/www.barrons.com\/articles\/sports-betting-problem-gambling-addiction-sites-6838c311?mod=past_editions\" target=\"_blank\" rel=\"noopener nofollow\">Barron\u2019s<\/a>)<\/p>\n<p>\u2022 The Texas way: why the most disaster-prone US state is so allergic to preparing for disasters: It faces hurricanes, heat, drought, rising seas and \u2013 as last week showed \u2013 deadly floods. But despite the clear need for preventive action, that is not the political mood. (<a href=\"https:\/\/www.theguardian.com\/us-news\/2025\/jul\/13\/texas-disaster-weather-preparations-us\" target=\"_blank\" rel=\"noopener nofollow\">The Guardian<\/a>) see also Texan Stoicism Provides Comfort, and Excuses, After the Flood: Texans often draw on the idea of their own self-reliance during times of adversity. Gov. Greg Abbott has used it to deflect tough questions.\u00a0(<a href=\"https:\/\/www.nytimes.com\/2025\/07\/14\/us\/politics\/texas-floods-greg-abbott-stoicism.html\" target=\"_blank\" rel=\"noopener nofollow\">New York Times<\/a>)<\/p>\n<p>\u2022 Hardly Workin\u2019 The Consumer Financial Protection Bureau is on life support, and consumer scam complaints are surging as a result. The Trump administration wants to pull the plug.\u00a0(<a href=\"https:\/\/prospect.org\/api\/content\/a9e58734-5dd8-11f0-bc17-1248ae80e59d\/\" target=\"_blank\" rel=\"noopener nofollow\">American Prospect<\/a>)<\/p>\n<p>\u2022 The Death of the Middle-Class Musician: It\u2019s easier than ever to make music, and harder than ever to make a living from it. (<a href=\"https:\/\/thewalrus.ca\/the-death-of-the-middle-class-musician\/\" target=\"_blank\" rel=\"noopener nofollow\">The\u00a0Walrus<\/a>)<\/p>\n<p>\u2022 CVS was so worried about shoplifting that it stole its own soul: My local pharmacy\u2019s products are now encased in glass, and the whole thing makes me very nervous. (<a href=\"https:\/\/www.washingtonpost.com\/opinions\/2025\/07\/07\/cvs-glass-lockdown-stress\/\" target=\"_blank\" rel=\"noopener nofollow\">Washington Post<\/a>)<\/p>\n<p>\u2022 5 big questions about Trump\u2019s ties to Epstein. But the new report \u2013 along with Trump\u2019s demands that his supporters stop pursuing questions about Epstein in the wake of his administration\u2019s botched handling of promised disclosures \u2013 has rekindled interest in the matter. (<a href=\"https:\/\/www.cnn.com\/2025\/07\/19\/politics\/epstein-trump-ties-analysis\" target=\"_blank\" rel=\"noopener nofollow\">CNN<\/a>) see also Jeffrey Epstein\u2019s Friends Sent Him Bawdy Letters for a 50th Birthday Album. One Was From Donald Trump. The leather-bound book was compiled by Ghislaine Maxwell. The president says the letter \u2018is a fake thing.\u2019 (<a href=\"https:\/\/www.wsj.com\/politics\/trump-jeffrey-epstein-birthday-letter-we-have-certain-things-in-common-f918d796\" target=\"_blank\" rel=\"noopener nofollow\">Wall Street Journal<\/a>)<\/p>\n<p>\u2022 ICE Lawyers Are Hiding Their Names in Immigration Court: ICE attorneys fighting to deport immigrants are able to obscure their identities \u2014 no masks required.\u00a0(<a href=\"https:\/\/theintercept.com\/2025\/07\/15\/ice-lawyers-hiding-names-court\/\" target=\"_blank\" rel=\"noopener nofollow\">The Intercept<\/a>)<\/p>\n<p>\\\u2022 The Rapid Rise of Killings by Police in Rural America: A 17-year-old shot and killed by a sheriff\u2019s deputy on a New Mexico highway last summer was one in a growing number of cases.\u00a0(<a href=\"https:\/\/www.wsj.com\/us-news\/police-killings-rise-rural-sheriffs-1663159a?reflink=desktopwebshare_permalink&amp;st=muc7po&amp;utm_medium=email&amp;utm_source=substack\" target=\"_blank\" rel=\"noopener nofollow\">Wall Street Journal<\/a>)<\/p>\n<p>\u2022 Why Texas\u2019 floods are a warning for the rest of the country: The disaster that unfolded in Kerr County, Texas, shows how many communities will struggle to prepare for extreme weather as the federal government pulls back. (<a href=\"https:\/\/www.politico.com\/news\/2025\/07\/08\/climate-change-makes-deadly-floods-more-likely-but-washington-is-responding-with-cuts-00441921\" target=\"_blank\" rel=\"noopener nofollow\">Politico<\/a>) see also Trump Is Gutting Weather Science and Reducing Disaster Response: As a warming planet delivers more extreme weather, experts warn that the Trump administration is dismantling the government\u2019s disaster capabilities.\u00a0(<a href=\"https:\/\/www.nytimes.com\/2025\/07\/13\/climate\/floods-trump-cuts-disaster-preparedness-fema.html\" target=\"_blank\" rel=\"noopener nofollow\">New York Times<\/a>)<\/p>\n<p>\u2022 The world is choking on screens. Just as this book foretold. Neil Postman\u2019s \u201cAmusing Ourselves to Death\u201d at 40 is truer than ever. (<a href=\"https:\/\/www.washingtonpost.com\/opinions\/2025\/07\/17\/neil-postman-amusing-ourselves-to-death\/\" target=\"_blank\" rel=\"noopener nofollow\">Washington Post<\/a>)<\/p>\n<p>Be sure to check out our\u00a0<a href=\"https:\/\/ritholtz.com\/category\/podcast\/mib\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\" data-web-url=\"http:\/\/www.bloombergview.com\/topics\/masters-in-business\">Masters in Business<\/a>\u00a0<a href=\"https:\/\/itunes.apple.com\/us\/podcast\/masters-in-business\/id730188152?mt=2\" data-web-url=\"https:\/\/itunes.apple.com\/us\/podcast\/masters-in-business\/id730188152?mt=2\" rel=\"nofollow noopener\" target=\"_blank\">interview<\/a> this weekend with Neil Dutta, head of the economic research team at Renaissance Macro Research. Previously, he was Senior Economist NA at Bank of America-Merrill Lynch under Ethan Harris and David Rosenberg. He has a history of making successful contrarian calls, including calling for no recession in 2022, and warning that the FOMC would raise rates aggressively in 2022. He is now expecting a mild recession late 2025\/26.<\/p>\n<p>\u00a0<\/p>\n<p>Americans now spend more on health care than on housing or food\u2026<br \/><a href=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2025\/07\/healthcare.jpg\" target=\"_blank\" rel=\"noopener\"><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden alignnone wp-image-346133\" data-lazy-type=\"image\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2025\/07\/healthcare.jpg\" alt=\"\" width=\"700\" height=\"730\"  \/><\/a><br \/>Source: <a href=\"https:\/\/www.linkedin.com\/posts\/peter-mallouk_a-stunning-shift-americans-now-spend-more-activity-7351236668164591616-46YB\" target=\"_blank\" rel=\"noopener nofollow\">Peter Mallouk<\/a><\/p>\n<p>\u00a0<\/p>\n<p><a class=\"gtrackexternal\" href=\"https:\/\/mailchi.mp\/005fb77d75b9\/ritholtzreads\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Sign up for our reads-only mailing list here<\/a>.<\/p>\n<p>~~~<\/p>\n<p>To learn how these reads are assembled each day,\u00a0<a href=\"https:\/\/ritholtz.com\/2016\/08\/assemble-daily-reads-3-ez-steps\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">please see this<\/a>.<\/p>\n<p>\u00a0<\/p>\n<p>                    <a href=\"#\" rel=\"nofollow\" onclick=\"window.print(); return false;\" title=\"Printer Friendly, PDF &amp; Email\"><br \/>\n                    <img decoding=\"async\" class=\"lazy lazy-hidden pf-button-img\" data-lazy-type=\"image\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2025\/07\/printfriendly-button.png\" alt=\"Print Friendly, PDF &amp; Email\" style=\"width: 112px;height: 24px;\"\/><br \/>\n                    <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Avert your eyes! My Sunday morning\u00a0look at incompetency, corruption and policy failures: \u2022 Venture Capital Firms Bet Big&hellip;\n","protected":false},"author":2,"featured_media":17004,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[45,49,48,137],"class_list":{"0":"post-17003","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-entrepreneurship","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-entrepreneurship"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/17003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=17003"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/17003\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/17004"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=17003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=17003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=17003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}