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The Pakistan Industrial and Traders Associations Front (PIAF) has called upon the government to announce robust economic strategies, as the country has stuck in low economic growth situation, where double-digit policy rate for the last few years has diminished capacity to increase domestic production. PIAF Chairman Faheemur Rehman Saigol in a joint statement along with senior vice chairman Nasrullah Mughal and vice chairman Tahir Manzoor Chaudhary said that the government will have its work sharply cut out as far as the economic challenges are concerned. Coming at the back of fast-unfolding climate change crisis that pushed millions into poverty with little fiscal capacity of government to provide anywhere near close to what was needed in stimulus spending. Then there is acute debt distress, and inflation at the back of global aggregate supply shock, and accentuated by a world of rising conflicts, mainly in Ukraine, and the Middle East. The PIAF leaders emphasized that such transparency from the government is crucial, as the country has had trouble raising enough money to cover its expenses. Faheem Saigol said that the domestic investment at the moment is alarmingly low which has sent a negative signal to the potential foreign investors and now is the time that the federal government should give some patient hearing to the private sector calling. They said if the government was seriously desirous of having economic turnaround in the coming years it would have to do two things that are: an immediate freeze on domestic and foreign borrowing and secondly put in place a well-tailored strategy to show-case Pakistan’s potentials to the outer world. Tahir Manzoor Chaudhary said that even though Pakistan’s economic crisis is a recurring factor in the country’s political unrest, it has a history of ignoring the nation’s true issues, which include poor governance, a broken judicial system, outdated laws, complicated tax system, lack of transparency, duplication in the government system, ineffective bureaucracy, improper use of our human, natural and water resources, lack of efficient local government, inadequate data for country’s planning, and the consistent flaws in policies in execution by the government departments.Greenland and the Panama Canal aren’t for sale. Why is Trump threatening to take them?
President-elect Donald Trump joined the chorus of people raising concerns about mysterious drone sightings over New Jersey and other states on the East Coast, calling on government officials to shoot down the aircraft if they are truly unidentifiable. In a Friday post on his social media platform Truth Social , Trump indicated that he believes authorities know more about the drones than they are letting on. “Mystery Drone sightings all over the Country. Can this really be happening without our government’s knowledge. I don [sic] think so! Let the public know, and now. Otherwise, shot [sic] them down!!! DJT,” the president-elect wrote. Residents of Morris County, New Jersey, first started reporting nighttime sightings of the drones last month. Since then, the FBI and the Department of Homeland Security have investigated the objects and are looking into whether people are seeing actual drones, manned aircraft or something else. “We have no evidence at this time that the reported drone sightings pose a national security or public safety threat or have a foreign nexus,” the FBI and DHS said in a joint statement Thursday. “Upon review of available imagery, it appears that many of the reported sightings are actually manned aircraft, operating lawfully. There are no reported or confirmed drone sightings in any restricted air space.” Nevertheless, reports of drone sightings continued to proliferate on Friday, with even former Maryland Gov. Larry Hogan posting video of what he said were “dozens of large drones” flying over his home on Thursday night. Individuals in New York and Connecticut have also reported seeing the aircraft. Trump’s missive came after White House national security spokesperson John Kirby appeared on Fox News ’ “The Story” on Friday afternoon, where host Martha MacCallum pressed him about whether officials really do not have an explanation for the drone sightings. “I’m not going to lie to you or to the American people, and I’m not going to say we know something when we don’t,” Kirby said. “And we would never, ever stoop to think that an American citizen was crazy or nuts because of what they’re seeing and what they’re documenting. We’re taking that imagery seriously and we’re doing the best we can to analyze it, and we encourage people to come forward if they have additional sightings.” “Why not just take one down and figure out what’s going on?” MacCallum asked. “We don’t have enough conclusions to take that kind of a policy action,” Kirby replied. “But let’s just assume for a minute, Martha, that we did. You’re not going to want to shoot something down where it could hit somebody’s house, or hurt somebody.” Don't let this be the end of the free press. The free press is under attack — and America's future hangs in the balance. As other newsrooms bow to political pressure, HuffPost is not backing down. Would you help us keep our news free for all? We can't do it without you. Can't afford to contribute? Support HuffPost by creating a free account and log in while you read. You've supported HuffPost before, and we'll be honest — we could use your help again . We view our mission to provide free, fair news as critically important in this crucial moment, and we can't do it without you. Whether you give once or many more times, we appreciate your contribution to keeping our journalism free for all. You've supported HuffPost before, and we'll be honest — we could use your help again . We view our mission to provide free, fair news as critically important in this crucial moment, and we can't do it without you. Whether you give just one more time or sign up again to contribute regularly, we appreciate you playing a part in keeping our journalism free for all. Already contributed? Log in to hide these messages. She also asked what President Joe Biden has to say on the issue, and whether Elon Musk or other “outside experts” had been called in to give their opinions. Biden “has tasked the team to look into this and to be energetic in doing it, to try to get answers,” Kirby said. Related From Our PartnerIn this podcast, Motley Fool analyst Nick Sciple and host Ricky Mulvey discuss: Highlights from Walmart 's quarter. What shoppers want from mac and cheese. Why nicotine pouches may be "the biggest consumer product story this decade." Then, Motley Fool personal finance expert Robert Brokamp kicks off a two-part series with Christine Benz, Morningstar 's director of personal finance and the author of How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement . Go to breakfast.fool.com to sign up to wake up daily to the latest market news, company insights, and a bit of Foolish fun -- all wrapped up in one quick, easy-to-read email called Breakfast News. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center . To get started investing, check out our beginner's guide to investing in stocks . A full transcript follows the video. This video was recorded on Nov. 19, 2024. Ricky Mulvey: Shoppers are trading up and down. It's the middle that gets stuck. You're listening to Motley Fool Money. I'm Ricky Mulvey. Joined today by our returning champion, Nick Sciple. Nick, it's good to have you back. How have you been? Nick Sciple: Been great, Ricky. I've been out on parental leave the past few months trying to wrangle two under two. It's been fun, but it's great to be back in the adult world here with you. Lots to talk about maybe talking about one of the places I pick up diapers. More often than not. Ricky Mulvey: What a different conversation to come into versus two under two. Stocks are down today as tensions between Russia and Ukraine increase. I think it's worth mentioning at the top, Nick, but we don't have anything smart to say here, other than, we hope this isn't. I don't want to look at gold and be like, traders are going to gold. But I got nothing smart to say other than we hope this isn't really bad. Nick Sciple: Certainly scary headlines, nuclear saber rattling by Russia is going to continue more of these same growing tensions, I would say, between Russia and the West, just like this is one of those risks Warren Buffett has talked about in the past. You can't control, you have to live with as an investor. The world is always uncertain. This is the cost of doing business. If these threats end up to anything in the real world, no advice we can give you will protect you from this sort of thing. But unlikely that these words will lead to actions, but certainly something to pay attention to. Ricky Mulvey: Let's go from the bottom up with Walmart earnings, focusing on the business. They reported this morning, Nick, I think the biggest highlight to me is that comp sales number for Walmart, more people are going to their stores, including Sam's Club. Walmart proper, more than 5%. Same-store sales increase. Sam's Club 7% from the year prior. This tells me that the inflation story is not over as shoppers continue to look for value, but what stood out to you from the quarter? Nick Sciple: For me, really across the board, strong numbers for Walmart, you mentioned those comp store numbers, that's with inventory declining 1% during the quarter. So just classic what you look for out of a high-quality retailer, you look below the top line, 42% marketplace growth, 28% advertising growth, 22% membership income growth, really working across the board. If you think about what's driving all those sorts of things, marketplace growth, really leveraging Walmart's infrastructure to be attractive to sellers and really getting the right assortment to be attractive to buyers, companies cited over 20% growth in beauty, toys, hardlines, and home. My wife has called out the Walmart's apparel has made a big comeback. The more the folks you bring to that marketplace, that gives you opportunities to sell ads and direct purchase behavior. Also, the more folks that are buying on that marketplace, you can sell them membership opportunities. All that drives the flywheel, folks back to Walmart, and all those revenue streams that I mentioned are high margins. This is really a company that's firing on all cylinders. All the flywheels are spinning, and it's really a beautiful thing. Ricky Mulvey: The e-commerce growth impressive, especially internationally for Walmart. There's also a consumer trend going on. It's the trade-down. Doug McMillon highlighting that "Households earning more than $100,000 a year made up for 75% of our share gains." You have folks going from the higher-priced grocery stores, going back to Walmart. If you're a long-term holder of Walmart shares, you have to believe that those shoppers are going to be sticking around for years and years to come. What needs to happen for Walmart to hold onto these customers for the next 3-5-10 years? Nick Sciple: I think the real key is convenience, and the company understands that as well. You got the words convenience or convenient mentioned 16 times on the call. Walmart's really always going to win on price, where it hasn't traditionally been able to have advantages is just the convenience. It's something that Doug McMillon also called out on the call is if you have higher discretionary income, these are folks that are more likely to pay up to save time, pay for those memberships, participate in pickup and delivery. If Walmart can continue to provide the value that it's always been able to deliver as a business and at a convenience level that other companies can't match, I think it can hold on to those high-income customers, and it looks like they're doing the things necessary to do that so far. Ricky Mulvey: What do you think about Walmart's valuation, the price tag on this stock? We talked about price to earnings, the price tag for Walmart on this previous weekend's show. Walmart's at 45 times earnings, 45. That's a lot for a grocery store that in a lot of ways, yes, it's getting more efficient, yes, it's getting more sales. Functions like a utility for a lot of people, that's putting it in the same weight class as Costco now. Do these multiples deserve to be in the same weight class? Yes, Costco is a little bit high. Nick Sciple: I think both those multiples, when you list them out to me, sound pretty high. But I do think Costco and Walmart are in a category of these dominant retailers from the 20th century that can really survive the competitive threats that we're seeing in today's 21st-century retail landscape, arguably, both expensive here, but both are growing their moot. Where I'm really worried about, if I look at retail today is what are the companies that are getting left behind. You look at the dollar stores this year, Dollar General and Dollar Tree , both down over 50%. Compare that to Walmart, almost two-thirds this year, 66%. Some of these companies might be getting left behind as Walmart becomes more convenient and can capture some of those areas of the market. I'd be more inclined to be worried about some of these other segments of retail that Walmart is capturing than I am concerned about Walmart itself. Although, is it going to be trading at 45 times earnings five years from now? Probably not, but I think there's a decent chance the stock is higher. Ricky Mulvey: There's also something happening at Walmart that doesn't really impact it as much, but a phenomenon happening at the grocery stores. There was an article in Bloomberg about it today, and that's that these brands that are in the center are getting cut out by shoppers. Basically, the example they use is mac and cheese. More people are buying store-brand cheap mac and cheese. Then you have your healthy-ish, allegedly healthy options that are the higher end that more people are gravitating to. In the middle, you have your Kraft Mac & Cheese, which is seeing sales declines. But you as a shopper you're going around the Tennessee grocery stores. Have you noticed this yourself or you gravitating up or down the value chain as a shopper? Nick Sciple: For me, I've always been the store brand guy. I think it's a trend along, millennials as a whole, but I was just raised that way to always get the store brand milk and the store brand cream cheese and that thing. For me, it's a habit I've always grown into. I have noticed more in my household, the willing to pay up for more of "The healthier versions of snacks," so you don't get the goldfish. You get the organic version of goldfish, that sort of thing. With the protein added products, I think those have had some success in capturing segments of the market. I think if you look at some of these big consumer package good companies, your Krafts, your Procter & Gamble s, they were really super efficient, built for the traditional retail model where you had the eye level shelf space, and that's how you attracted consumers. They're having to transition just like everybody else to this new purchasing model. I think those companies are still going to have to adapt. I do think long term, though, these businesses have such scale and are so sophisticated, even if they're getting attacked by some of these new emergent, healthy or other brands. Long term, these are acquisition targets for the big CPG companies. These aren't companies that I think are going to take down the big mammoth. Ricky Mulvey: Yeah, and in some cases, the store brand is the brand now. Kirkland is beloved. I love me some Kirkland coffee. I've got my Kirkland laundry pods. I'm happy with it. You mentioned it as an acquisition target. I'm going to dig into the numbers a little bit more. So Craft, year over year 6% decline in mac and cheese. Their stock has been basically flat over the past five years, as well. The store box mac and cheese, Bloomberg reporting, that's a 6% bump. The trade is pretty direct there. There's also this higher end option called Goodles, which is the protein added one that you were talking about. You also mentioned Procter & Gamble, Kraft Heinz , these consumer packaged goods companies, when we talk about this trend where the middle is getting cut out, is this a temporary thing? Is this an investing we like to say? It's a dark cloud that can be seen through or is this a long-term problem for these companies? Nick Sciple: It's not a dark cloud that I would say that I can see through today. It's not the area of the market that I would be aggressively looking for opportunities. I think these are sophisticated businesses with talented management that can adapt over time, but I don't think the vision of the future for these companies is ultra clear that Kraft Mac & Cheese is going to be as relevant five or 10 years from now as it is today. For me, I would be more comfortable looking at segments of the market that customers are moving toward that are growing segments, we might talk about one here in a second. Those are the areas I'd be looking for in consumer goods as opposed to trying to catch the falling knife. Ricky Mulvey: Let's get there because there is a surprising consumer product that has had a heck of a year, and that's nicotine. Altria and Philip Morris are both up almost 40%. These are mature companies that pay very healthy dividends. Altria, I think, pays over a 7% dividend right now. This is for outside observers, may be surprising. It's at a time where fewer people are smoking cigarettes. You shared an article with me that even Sweden is going smoke free. There is a move to pouches, but man, this move must be big. What's happening with the nicotine industry in 2024? Nick Sciple: You mentioned the nicotine pouches really has been the big story this year, and I think it's going to be the biggest consumer product story this decade. Smoking has been declining for quite a while. I think pouches are what's going to really drive growth in nicotine consumption. The global market for nicotine pouches is expected to grow from $7.4 billion in 2023 to $25.2 billion in 2028. That's according to EuroMotor and that's on top of really triple digit growth [inaudible] we've seen over the past several years. This is a segment of the market just doesn't get talked about that much because of the nicotine tobacco stigma. I think it's probably the first time this year. It's getting talked about on Motley Fool Money. I understand why the smoking causes cancer. It kills people. Certainly it's been a big public health consciousness drive over the past 50 plus years to spread that. Smoking is predominantly how people have consumed nicotine throughout history. Back from the 1500s, people smoked pipes, then cigars became popular in the late 19th century, cigarettes became popular, still become popular. Today, along the way, governments have taxed, punish, tried to ban nicotine use, but it's still persisted today, I think, likely to continue in the form of these nicotine pouches, other reduced risk products that have opportunity to deliver nicotine with fewer harmful chemicals. You mentioned Sweden as a market where you're really seeing smoking decline, and part of that is because Sweden is the market where nicotine pouches really first gained prominence. Launched there in 2008, descended from traditional Swedish noose tobacco it's been used hundreds of years. Last week, Sweden announced it became the first country in the world to reach smoke free status. That's with less than 5% of your adult consumers. Smoking at 16 years ahead of EU targets and really has been driven by policy that's made these products more attractive than cigarettes and education that's focused around tobacco harm reduction as opposed to just totally eliminating nicotine use. You see it in, health statistics for the country. Sweden has the lowest percentage of tobacco related diseases in Europe and 41% lower incidence of cancer than other countries. It's the second biggest market for nicotine pouches, the US is number 1, and there's been rapid growth. We can talk about some of the brands. Ricky, let's do it. Ricky Mulvey: I'm going to go back on something you said. We haven't talked about it and why we haven't talked about it? I programmed some of the show. Maybe we should have. Especially if you think it's the biggest consumer product story of the next decade. Ultimately, I think, our job on the show is not to tell you what to invest in what not to invest in based on our moral inclinations. I think the farthest I will go on that is you get started investing we encourage you at the Motley Fool to find maybe one company or one industry that you will never invest in, no matter how well it does, because it goes against what you believe in morally, it doesn't agree with your beliefs. We talk about alcohol. We'll also talk about cigarettes sometimes, and it's up to you what you want to do with that information. Let's talk. Now, about the nicotine pouches, Philip Morris, which owns ZYN that is the most popular nicotine pouch. There's a story about it in the New York Times a few weeks ago, giving it what I will generously describe as mixed coverage. But what it talks about is they don't really market this product. Philip Morris has not really been marketing ZYN but it has this online legion of fans, and it's become the number 1 brand in the US. How has ZYN specifically gotten so popular? Nick Sciple: So a few things. I think nicotine pouches in general are a good product relative to traditional nicotine delivery systems. It's discrete. You don't smell bad like you do smoking tobacco. Unlike traditional smokeless tobacco, dip and the like, you don't have to spit. It's a better product for those reasons. But ZYN was the first of the market in the US. In 2014, Swedish match was just the owner of ZYN until Swedish Match was acquired by Philip Morris. 2022 was really the first on the market. Also, if you look at the quality of the product relative to some others on the market, just higher quality product. Altria sells the on nicotine pouch product. British American Tobacco sells Velo, both of those products similar to ZYN, but end up having a lot more quality control issues than ZYN has, just a better product. Also, just for whatever reason, historically, nicotine products have always had a super high brand affinity and a concentrated market leader. You'd see it with Marlboro and cigarettes. You'd see it traditionally in the type of pipes and things like that that people smoke. For several reasons, the quality of the product, being the first to market. The virality that you get as more and more people use the product. Just the natural way nicotine products end up being concentrated ZYN has become the market leader. Today, over 73% share in the category by retail value in the most recent quarter, 149 million cans shipped last quarter alone, that's up 40% year over year, triple what it had shipped in the first quarter of 2022. That's in an environment where, sales were restricted because the product was stocking out in retail stores across the country. This is an environment where they're raising price as well. ZYN isn't the only product that's seeing growth. I mentioned, the on product from Altria. That had 46% growth in the most recent quarter, British American tobaccos product, growing 48% in the first half of 2024. Really across the board massive growth. You're seeing similar patterns to what you've seen in traditional nicotine products, and again, growth not likely to slow down anytime soon. Ricky Mulvey: You've also got a celebrity endorsement recently with Josh Brolin admitting on the WTF podcast with Mark Marron that he has a ZYN in a pouch in his lip 24 hours a day, emphasizing that he's not lying about that. As we wrap up here, anything else on tobacco is comeback that you want to hit? Nick Sciple: Well, you talked about celebrity endorsements. Tucker Carlson also getting into the Nicotine pouch game, which I think is interesting. ZYN, obviously, the leader in the market, don't have to be the market leader to be successful with a market category. It's as big and fast growing as we're seeing in nicotine pouches. It really doesn't take that much to be successful. Nick Sciple: In the market. You mentioned earlier comparisons with alcohol and things like that. I think about celebrities getting involved in nicotine pouches in the same way that George Clooney getting involved, selling Tequila or Ryan Reynolds getting involved, selling Aviation, Jane, you don't have to take down Jack Daniels or Jose Cuervo to be really significant in the market. The reason I mentioned the Tucker product, his part publicly traded company that we've recommended in Canada in the past, Turning Point Brands , is a billion dollar company. It takes lots and lots of sales for these products to be impactful for a company like Philip Morris or Altria, not the same for a company like Turning Point Brands has really built a business around being a small going after small, profitable segments of the tobacco industry, whether that's chewing tobacco or others in nicotine pouches, they're already showing success with their free brand. They've tripled sales year over year. That stocks over 130% this year. Whether you're looking for these big established companies with reliable dividends that have been around for a long time. Or looking for small cap businesses that there's lots of ways to get involved in this trend. If you can open your mind to the idea that nicotine can persist as a product while health outcomes for use and continue to improve, I think this is a category that you should consider investing in. Ricky Mulvey: Sometimes, products that hit that steamy button for the user, these can turn out to be good long term investments. We'll see. I'm going to keep an eye on it. Appreciate you bringing it to my attention, Nick Sciple. Thank you for your time and your insight. Thanks for being here. Nick Sciple: Thanks, Ricky. Anytime. Ricky Mulvey: Today's show is brought to you by public.com. Heads up, folks, interest rates are falling, but you can still lock in a 6% or higher yield with a bond account at public.com. That's a pretty big deal because when rates drop, so can the interest you earn on your investment. A bond account allows you to lock in a 6% or higher yield with a diversified portfolio of high yield and investment grade corporate bonds. While other people are watching their returns shrink, you can sit back with regular interest payments, but you might want to act fast because your yield is not locked in until you invest. The good news, it only takes a couple of minutes to sign up at public.com. Lock in a 6% or higher yield with a bond account. Only at public.com/motlefoolpublic.com/motleyfool. Brought to you by public Investing member FINRA and SIPC, as of 92624, the average annualized yield to worst across the bond account is greater than 6%. Yield to worst is not guaranteed, not an investment recommendation. All investing involves risk, visit public.com/disclosures/bond-account for more info. As we wrap up that segment, just a quick note, Turning Point brands and Turning Point USA are completely separate entities. Up next, Robert Brokamp kicks off a two part interview series with Christine Benz, Morningstar's director of Personal Finance and the author of How to Retire 20 Lessons for a happy, successful, and wealthy retirement. In today's conversation, they talk about distributions and why retirees may need less in stocks than they think. Robert Brokamp: Let's start with research on withdrawal rates in retirement, because it attempts to answer a key question. How much can I spend and be reasonably sure my money is going to last as long as I do? Plus, you could then use that to back into how much you have to have saved before you retire. Christine Benz: Right. Robert Brokamp: This year marks the 30th anniversary of the research report that established 4% as the safe withdrawal rate, written by a financial planner named Bill Bengen. Since 1994, all studies have come out, many saying that 4% is too low, some saying it's too high. Morningstar jumped into the game a few years ago. The most recent publicly available report was published toward the end of last year, and it brought us back full circle to 4%. What's your take on how someone should choose the right withdrawal rate for them when they retire? Christine Benz: Yeah, this whole thing about safe withdrawal rates, in a way, Robert, when I think about it rests on what I think of as a straw man. The formula that we use to even do our research, our base case, safe spending research at Morningstar, is that we assume someone's looking for Social Security equivalent or paycheck equivalent in retirement. They're going to take the same amount out every year, inflation adjusts that dollar amount, so they'll take a little bit more if inflation's up, maybe take a lower inflation adjustment if it's not up so much. But that's how we assume that someone marches along for however long their retirement is. The baseline assumption that we use for our research is 30 years. When we look at the research on this, it's not really how people spend that people do tend to spend less throughout their retirement life cycle. Sometimes for reasons of uninsured long term care costs, mainly, we see healthcare spending flare up later in life. Then that inflates the averages for everyone, even though it's a fairly small segment of our population that has that catastrophic term care spending need. Anyway, it doesn't really factor in real world spending. Another thing that we know when we look at this problem is that ideally you would pay a little bit of attention to what's going on in your portfolio. In a good year, you can take more. In a good year like 2024, in a bad year like 2022, you'd probably want to take a little bit less. The basic intuition there is that you're preserving funds in a downturn, you're preserving funds that will be available to recover when the market eventually does. I definitely prefer that people think about flexibility if they possibly can and one thing I liked in the book is that Jon Guyton, who's a financial planner and has also done some work in this realm of retirement withdrawal rights. He notes that it's like a rare thing where our behavioral instincts, which is to spend less when our portfolios are down, actually align with what's good for our portfolios. In many cases, that's not the case. We feel like selling oftentimes out of our portfolios when the market's up, spending more feels better than spending less. This is a time where actually those two things are in alignment. Robert Brokamp: One of the points made by Jonathan Guyton and at least one other person that you interviewed in the book is that 4% is a worst case scenario. It's survived the worst conditions we've seen since the 1920s. In most situations, someone who fled the 4% rule would actually die with more money than they started with at retirement. Some of the suggestions from the experts, as well as the research from Morningstars, like you could, for example, instead of assuming that you just take an inflation adjustment every year, whenever your portfolio is down, you just don't take an inflation adjustment, and that adds 0.4-0.5% to the SAFE withdrawal rate. Or if you use the actual spending of retirees, which tends to go down over time, the actual beginning SAFE withdrawal rate could be 5%, especially if you are willing to cut back during times when your portfolio is down. Christine Benz: No, it's absolutely right that this is particularly important for people with tight financial plans, where there are real quality of life issues in underspending that if they wed themselves to this 4% guideline in many market environments that would prevail over the subsequent 25 or 30 year period or shorter period, perhaps, that would be too low. Ideally you would revisit this. You'd think about how your portfolio has performed. You'd be willing to be a little bit flexible. I think another factor that has gotten underrated that we're addressing in the 2024 retirement income research that we're working on is that most people have other sources of cash flow in addition to their portfolios, so most of us will come into retirement with the stabilizer of Social Security. That's going to make me more comfortable making those adjustments. My portfolio isn't my sole source of spending. If I'm able to look at Social Security as providing my baseline living expenses, I probably am willing to tolerate a bit of volatility in my portfolio cash flows, or at least that's how I think about it. Robert Brokamp: We'll get to Social Security a little bit later. But one of the other benefits of the research on safe withdrawal rates is that it gives an indication of what asset allocation seems to best enhance portfolio longevity, it depends on your assumptions and, frankly, which withdrawal rate strategy you're going to follow. But the research seems to indicate that there's like this Goldilocks amount of stock you should aim for, not too much, not too little. What's your general idea in terms of a range of a reasonable asset allocation based on the research you've done on safe withdrawal rates? Christine Benz: Yeah, it's more balanced, I think, than many people might think. I frequently run into retirees who say, you know what? I just own dividend paying stocks, forget your bonds, I own maybe a little bit of cash, and I call it a day. When we look at the research with our base case, where again, we're assuming someone wants that fixed real withdrawal throughout their retirement years, it very much points to the value of balance. In fact, when we did the 2023 research, in light of the fact that yields had gone up pretty decently on cash and on bonds, our model, because we're asking it to provide this fairly stable stream of cash flows, our model was basically saying back to us, I see that here today, and it's mainly in fixed income securities. The recommendation, like the highest safe withdrawal rate, somewhat counter-intuitively to all of us until we took a step back and thought about it, pointed to a 20-40% equity allocation, which is pretty light for most retirees. I think many especially investor type retirees have more ample equity ratings. I think the reason our model gravitated to that is because we are basically saying we want to lock down our cash flows, and we don't want a lot of volatility in those cash flows from year to year in light of higher yields, the money Carlo simulations that we run gravitated to that more conservative asset mix. If you're looking at a more flexible strategy where you are going to make changes to your spending on an ongoing basis and you're up for that. Then if you look at something like the guardrails strategy, which is Jonathan Guyton's strategy for dynamic withdrawals, it points to a higher equity mix, but still on the realm of balance, not 90, 10 equity versus fixed income. It's more sort of 60, 40 that delivers the highest spending rate with a guardrail strategy. Robert Brokamp: That's generally consistent with many of the other studies that have looked at historical returns as opposed to your study, which is more prospective, and that you don't want to go too much over 60 or 70% when it comes to stocks. Christine Benz: The reason is pretty intuitive, you don't have to be a market guru to understand the importance of if you're going to be spending from this portfolio, you basically want to and this gets to the bucket thing that I often talk about. But you want to lock down a stream of cash flows that you could pull from without disturbing equities. If you happen to be super unlucky, retire headlong into a market environment that you know where stocks immediately drop, you would want to be able to withdraw from safer assets and leave those equity assets to recover. Robert Brokamp: With your bucket strategy, you've often talked about three buckets. That's one super safe bucket, about two years of retirement income in cash, maybe years 2-8, corporate bonds, maybe some safer stocks, and then years 10 and beyond our stocks. When you're working, you're probably going to be mostly in stocks but at some point, you have to de risk. At what point do you think people really have to start taking that seriously? Is it 10 years from retirement, five years from retirement? Do you have any particular suggestions for how they should do that? Christine Benz: For sure, within a five year window, I would be thinking seriously about de risk. I think sometimes people hear de risk and think that we're saying, you're going to flee equities entirely. No, it's just that you probably have been neglecting safer assets in your portfolio. You might have that emergency fund, and if you're using some sort of all in one fund like a target date fund, it's tipping you into more bonds. But if you haven't been paying close attention, well, we've had a great equity market. Your equities are probably hogging a bigger share of your portfolio. I think the best way to address that is to perhaps turn your new contributions onto fixed income, that's probably the simplest, most painless way to approach it, where new contributions into your company retirement plan or maybe into your IRA, if you're building an IRA would go into fixed income assets, and then within I would say, probably a couple of years of retirement, then you would want to start building out that cash position. But there's definitely an opportunity cost to having too much in cash too early, even though inflation has moderated a little bit. I think you want to be careful about the peace of mind that you get with cash because there really is a significant opportunity cost over time with inflation, just taking a bite out of that purchasing power. Robert Brokamp: Yeah, one of the points one of your experts made, Fritz Gilbert, that we talk about series of withdrawal risk often in retirement and that's often conceived of the series of returns you get in retirement, but that sequence of returns risk actually starts before retirement because you don't want to get three years from retirement, and then the market drops 50% and then your plans have changed. Christine Benz: Yeah, I love that point that sequence risk, I think, is, something that we understand to be like this some big market drop right after you retire. But Fritz is absolutely right that it's important if you encounter that just before retirement, you want to build a bulwark against having to come in. You want to let your portfolio fully recover. I also think that inflation risk is maybe an under discussed aspect of sequence risk. It comes up in the book a little bit, but I think Wade Pfau talks about it where if inflation's really high in your early years of retirement, that's meaningful too. Because I don't imagine that we'll be going back to 2021, prices on cereal and hotels and all that stuff. We're probably here to stay, even though we will see the inflation rate moderate a little bit. You need to be thinking about sequence of inflation risk too. Robert Brokamp: Yeah, because it raises basically the floor of your spending for the rest of your retirement. Christine Benz: Right, exactly. Ricky Mulvey: As always, people on the program may have interests in the stocks they talk about, and the Motley Fool may have formal recommendations for or against, so don't buy or sell anything based solely on what you hear. All personal finance content follows Motley Fool editorial standards and are not approved by advertisers, The Motley Fool only picks products that it would personally recommend to friends like you. I'm Ricky Mulvey. Thanks for listening. We'll be back tomorrow.
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A couple made off with some free Boxing Day sushi after a “dine-and-dash” at the Valencia mall. Santa Clarita Valley Sheriff’s Station officials responded to a call around 7 p.m. from Xevichez Sushi Bar at 24250 Town Center Drive, Deputy Villalobos of the SCV Sheriff’s Station said Friday. Station officials confirmed the couple consumed approximately $120 in food at the mall restaurant before taking off without paying. The incident also triggered several reports on social media apps that track law enforcement activity, which reported the 911 call. However, there might have been a holiday change of heart. Villalobos said the victim — a representative for the restaurant who spoke to deputies — declined to press charges over the incident, during the dinner rush.
Stocks notch strong weekly gain, US yields slip as markets eye Trump policies
Jones, Christensen lead Sumner-Fred/Wapsie to top half of fieldOrganizers say two sailors have died in Sydney to Hobart yacht race amid wild weather conditions SYDNEY (AP) — Organizers said that two Sydney to Hobart sailors have died at sea amid wild weather conditions that forced line honors favorite Master Lock Comanche to withdraw among mass retirements. The Cruising Yacht Club of Australia, which administers the yacht race, has said that one sailor each on entrants Flying Fish Arctos and Bowline were killed after being struck by the boom, a large horizontal pole at the bottom of the sail. The race will continue as the fleet continues its passage to Constitution Dock in Hobart, with the first boats expected to arrive later on Friday or early Saturday morning. India's former prime minister Manmohan Singh, architect of economic reforms, dies at 92 NEW DELHI (AP) — India’s former Prime Minister Manmohan Singh, widely regarded as the architect of India’s economic reform program and a landmark nuclear deal with the United States, has died. He was 92. The hospital said Singh was admitted to New Delhi’s All India Institute of Medical Sciences late Thursday after his health deteriorated due to “sudden loss of consciousness at home." He was “being treated for age-related medical conditions,” the statement added. A mild-mannered technocrat, Singh became one of India’s longest-serving prime ministers for 10 years and earned a reputation as a man of great personal integrity. But his sterling image was tainted by allegations of corruption against his ministers. 'Baby Driver' actor Hudson Meek, 16, dies in a fall from a moving vehicle VESTAVIA HILLS, Ala. (AP) — Authorities say 16-year-old actor Hudson Meek has died after he fell out of a moving vehicle in Alabama. The Jefferson County Coroner's Office says Meek was hurt on Dec. 19 while on a street in Vestavia Hills, a suburb of Birmingham. He died two days later. The Vestavia Hills Police Department has not issued any public statements. Meek made his on-screen debut in 2014’s “The Santa Con,” and had roles in various TV series, including “MacGyver.” He was perhaps best known for his role in the 2017 film “Baby Driver,” in which he played a younger version of Ansel Elgort’s titular character. Bad Bunny announces a new album, 'Debí Tirar Más Fotos' Puerto Rican superstar Bad Bunny announced he will release a new album in early January. He announced Thursday that “Debí Tirar Más Fotos" arrives Jan. 5. It is his sixth studio album and follows in his tradition of releasing new music on unexpected dates. This time, it's a Sunday instead of the typical Friday album drop date. Bad Bunny announced the news on Instagram in a short video featuring Puerto Rican filmmaker Jacobo Morales. He also released a new single, “PIToRRO DE COCO.” His last release was 2023’s “Nadie Sabe Lo Que Va a Pasar Mañana.” Hwang Dong-hyuk on killing off his 'Squid Game' characters and wanting to work with Jake Gyllenhaal As season two of Netflix's hit series “Squid Game” returns Thursday, viewers can expect more untimely deaths for many of its characters. Its creator, writer and director, Hwang Dong-hyuk says whittling down the cast made him happy because less people were easier to manage on set. The show follows a deadly competition in South Korea that targets contestants who are heavily in debt and desperate for money. Hwang told the Associated Press in a Q&A that a third and final season has already filmed and it's better than season two. He also says his next project will be even darker in tone than “Squid Game.” Powerful thunderstorms rumble across Texas, delaying holiday travel DALLAS (AP) — Severe thunderstorms are firing up in parts of Texas and could trigger high winds, hail and potential tornadoes. More than 100 flights were delayed and dozens more were canceled Thursday at airports in Dallas and Houston. The National Weather Service says the greatest weather risk stretched from just east of Dallas, and between Houston and portions of southern Arkansas and western Louisiana. The risk includes the possibility of tornadoes, wind gusts between 60 and 80 miles per hour and large hail. The National Weather Service issued a tornado watch for several counties in southeast Texas, including the Houston area. NYC taxi driver was having a medical episode when he jumped the curb and hit people, police say NEW YORK (AP) — New York City police say a taxi driver who hit six pedestrians when he jumped a curb in Manhattan on Christmas Day was having a medical episode at the time. An NYPD spokesperson would not elaborate on the type of type of medical episode but said Thursday no criminality is suspected at this time. The 58-year-old was taken to a hospital in stable condition for further evaluation. Also hospitalized after the yellow taxi drove onto the sidewalk across the street from Macy’s flagship store in Herald Square were a 9-year-old boy with a laceration to his right thigh, a 49-year-old woman with a leg injury and a 41-year-old woman. All were in stable condition. Pizza deliverer in Florida charged with stabbing pregnant woman at motel after tip dispute KISSIMMEE, Fla. (AP) — A pizza deliverer in Florida has been charged with pushing her way into a motel room and stabbing a pregnant woman after a dispute over a tip. The Osceola County Sheriff's Office says that Brianna Alvelo has been charged with stabbing a woman in her motel room in Kissimmee, Florida, a short time after delivering a pizza to her on Sunday. The woman gave Alvelo $50 on a $33.10 bill, expecting change back. When Alvelo started walking away, the woman asked for money back, and Alvelo told her they didn’t make change. The woman got a smaller dollar bill from her boyfriend, and Alvelo’s tip ended up being $2. Friday's Mega Millions drawing is worth an estimated $1.15 billion, one of the game's top jackpots Americans still dreaming of a really big Christmas present can keep that dream alive during Friday’s Mega Millions drawing for a jackpot worth an estimated $1.15 billion. Friday’s jackpot will potentially be the fifth largest in the game’s history. Mega Millions tickets are $2 a piece. But the odds of winning the jackpot are 1 in 302,575,350, and the odds of winning any Mega Millions prize are 1 in 24, according to lottery officials. Tickets for the game are sold in 45 states, along with Washington, D.C., and the U.S. Virgin Islands. Shooting wounds 2 at Phoenix airport, 1 other stabbed, police say PHOENIX (AP) — Police are investigating a shooting at Sky Harbor Airport in Phoenix that left two people wounded by gunfire and another person stabbed. Phoenix police say the shooting Wednesday evening was related to a family dispute that erupted at a restaurant outside security checkpoints. A woman and two adult males were shot, leaving the female with injuries police described as life-threatening. Police say the people involved knew each other and that a physical fight led one of them to fire a weapon. Authorities say the woman remains in critical condition, while the others were treated at a hospital and released.Protests in the streets, turmoil at City Hall, corruption trials galore, historically bad baseball and a massive influx of buzzing arthropods unlike any seen since the 1800s. No wonder so many Chicagoans sought peace at the sidewalk altar of a once-airborne rodent that imprinted itself into a slab of concrete — and into the city’s heart. In a year that had the national spotlight squared on Chicago, the Sun-Times saw it all. Here’s how we’ll remember 2024. Chicago shines for DNC Even Chicago’s famously mercurial weather cooperated through all four days of the Democratic National Convention , which went off without a hitch despite weeks of intraparty uncertainty heading into the spectacle. Mayor Brandon Johnson earned high marks for shepherding a smooth week for thousands of delegates and media from around the world, while Chicago Police Supt. Larry Snelling enjoyed rave reviews for keeping a reasonable lid on massive protests that mostly focused on the war in Gaza. The made-for-TV pep rally took on heightened excitement following President Joe Biden’s late withdrawal from the race, while some local flair was injected into the national conversation. The party’s new nominee, Vice President Kamala Harris, vetted Gov. JB Pritzker as her potential running mate . Pritzker fell short of the ticket and Harris fell short of the White House, leaving Democrats scratching their heads — just like some local business owners, who felt left out of the convention’s much ballyhooed economic boost . Brandon Johnson’s sophomore slump The DNC provided a rare highlight for the first-term mayor, who could warrant his own top-10 list for bad news cycles in 2024. Fault lines started showing early in the year when voters rejected Johnson’s Bring Chicago Home referendum, nixing higher taxes on expensive real estate transactions — money that would have been used to help shelter the city’s unhoused population — and delivering the first major roadblock to his progressive agenda. Johnson saw his City Council support erode as he moved to shut down the city’s controversial ShotSpotter gunshot detection system, and again when he had to defend elevating a top aide with “a history of calling the police “f---ing pigs.” A revolving door on the fifth floor of City Hall included Johnson’s firing of a longtime confidant and spokesman accused of sexual harassment and antisemitism. And don’t forget Johnson’s pick for school board president who lasted all of one week before a troubling history of social media posts — inexplicably missed by Johnson’s office during the hiring process — led to a swift ouster . The political chaos came to a crescendo late in the year as an emboldened Council, by a stunning 50-0 vote, shot down the $300 million property tax hike Johnson had included in his proposed 2025 budget — breaking a campaign promise not to raise them. After a series of budget concessions, Johnson scrapped any property tax hike to win Council approval for a budget that relies heavily on one-time revenues and nickel-and-dime fee increases. Meanwhile, Johnson worked for months to force Chicago Public Schools CEO Pedro Martinez out of his post , installing an entire school board that voted Dec. 21 to fire him — before the city’s first-ever elected board members had a chance to weigh in. The move raised fresh questions about the overwhelming influence of the Chicago Teachers Union. Preparing for Trump’s return Donald Trump’s resounding victory to retake the White House put officials on notice in Democratic-dominated Illinois, where the Republican president-elect saw a marginal uptick in voter support . Advocates for Illinois’ thousands of undocumented residents braced for the wave of legal questions raised by Trump’s promise of mass deportations, as the incoming administration’s border czar declared Chicago ground zero immigration enforcement raids. The city’s LGBTQ community grappled with similar concerns about the effect of a second Trump term on marriage and parental rights , while health care providers prepared for Illinois to take on an even greater role as the Midwest’s main island of abortion rights . Officials also raced to lock up key federal transit funding for an extension of the CTA Red Line, the type of assistance from Washington that Democrats say Trump may be keen on withholding from the city that has served as his preferred political punching bag. Landmark corruption cases One multi-generational poster boy of Chicago politics saw his federal corruption case come to a head while the fate of another hung in the balance to close out 2024. Ed Burke reported to a downstate prison to begin serving his two-year sentence for racketeering, bribery and attempted extortion convictions , tied to the longtime 14th Ward alderman’s strong-arming of developers to hire his private law firm. Mike Madigan spent weeks in a courtroom listening to federal prosecutors map out his sprawling web of influence as speaker of the Illinois House for jurors who will soon be tasked with deciding if Madigan wielded it to squeeze companies for payments to his political cronies. Natural wonders Cicadas and tornadoes and geomagnetic storms, oh my! Mother Nature kept things interesting for Chicagoans with the first dual-emergence of periodical broods of cicadas in more than 200 years, inundating some parts of the area with the very noisy , mostly harmless and debatably tasty insects. They crawled out of the ground shortly after the latest solar eclipse bedazzled the Midwest, drawing thousands of people to the path of totality that just narrowly missed the city. Some of the freshly unearthed cicadas were still around for the first in a series of rare aurora borealis displays powered by intense solar storms, igniting the northern lights over Lake Michigan even downtown. But the natural marvels weren’t all friendly. Thirty-one Chicago-area tornadoes in July set a new record as more frequent bouts of heavy rain and flooding provided a sobering reminder of the looming impacts of climate change. Up-and-down year for CPD It was a mixed bag for Snelling in his first full year at the helm of the Chicago Police Department. Overseeing a seamless DNC earned the freshman superintendent a growing drumbeat of support from Council members across the political spectrum, especially with his department on pace for fewer than 600 homicides , the lowest yearly toll since before the COVID-19 pandemic. But the killing of 26-year-old Dexter Reed in a hail of 96 bullets during a traffic stop raised new questions about the use of force in the ranks, and a federal monitor last month reminded officials that the department is far behind in its long-running reform effort, reaching full compliance with just 9% of the steps laid out in a consent decree . Domestic violence questions Horrific murder cases put officials’ handling of domestic violence under the microscope, highlighting issues that advocates say have persisted for decades. After 11-year-old Jayden Perkins was killed while defending his mother from an ex-boyfriend who’d been released on parole a day earlier, Gov. Pritzker pushed out two Illinois Prisoner Review Board members and tried to bolster that panel’s domestic violence training . Dozens of elected officials have joined a chorus calling for the reassignment of the Cook County judge who could’ve detained a man before he allegedly killed his wife, Lacramioara Beldie , in Portage Park. Advocates say there has been a spike in such attacks in the past year , increasing the lawmakers’ urgency to pass long-stalled legislation that would require law enforcement to promptly remove firearms while serving orders of protection. Ebb in new arrivals of asylum seekers The influx of thousands of migrants from the southern border that once overwhelmed the city’s social safety net slowed to a trickle under tighter Biden administration deportation policies, ending months of acrimony over city spending that highlighted racial divides in Chicago. Concerns over Texas Gov. Greg Abbott sending busloads of migrants to Chicago to embarrass the city during the DNC never materialized. By year’s end the city had closed its migrant landing zone completely as it merged shelter systems for newly arrived asylum seekers and homeless people who have long lived on Chicago’s streets and in its alleys, parks and viaducts. Chicago teams struggle inside and outside the stadium White Sox owner Jerry Reinsdorf threw his hat in the public financing ring with a splashy pitch for a new South Loop ballpark , but got shut out by state lawmakers who have rejected giving a dime to either them or the Bears — who rolled out their own renderings of a shiny new lakeside dome . That sent the McCaskeys back to the drawing board to consider the old Michael Reese Hospital site, or Arlington Heights, where the team finally reached a property tax deal with local school districts that could grease their suburban wheels. Neither team helped make their case on the field, either, with a pitiful Sox lineup recording the worst season in modern Major League Baseball history and the Bears firing a coach midseason for the first time while squandering what was supposed to be a competitive rookie season for quarterback Caleb Williams , who was drafted first overall in April. Rat hole Rat hole ( noun ) — rodent-shaped imprint on a Roscoe Village sidewalk that drew hordes of curious onlookers for several months in 2024 to the glee of Chicago social media users and chagrin of neighborhood residents. The latest entry into the Chicago lexicon was inscribed in January when photos of the four-legged sidewalk stamp — which some argue was actually left by a squirrel — went viral online, drawing tourists to the 1900 block of West Roscoe with offerings of coins, and prompting at least one couple to tie the knot . The city removed (but preserved) the pseudo-sacred sidewalk in April at the request of nearby residents none too pleased with round-the-clock foot traffic. What’s next for the rat hole? We’ll see in 2025. Other major 2024 stories CTA President Dorval Carter ’s seat got hotter as head of a transit agency beset by long wait times, understaffing and looming budget crises. The city mourned Chicago police officers Luis Huesca and Enrique Martinez , killed on duty in separate shootings. Tipped workers saw their minimum base wages increase en route to eventual parity with the standard minimum wage, in a win for Mayor Johnson and his progressive allies and a loss for restaurant owners . Plans moved forward to transform the long-vacant U.S. Steel South Works into a sprawling quantum computing campus as Illinois positions itself as the Silicon Valley of the nascent technology. Hackers stole the personal data of more than 800,000 people in a cyberattack on the Lurie Children’s Hospital network, causing months of headaches for patients and their families. Chicago rap star Lil Durk was charged in a California murder-for-hire plot. The Illinois Supreme Court overturned actor Jussie Smollett ’s conviction for staging a hate crime, sparing him five months’ jail time. And Dolton Mayor Tiffany Henyard’s south suburban media circus played on, with federal investigators circling her push for no-bid contracts to a construction company linked to multiple corruption investigations, among other questionable spending.
Former President Jimmy Carter died on Sunday at the age of 100. Foreign and business leaders celebrated Carter's humanitarian work. President-elect Donald Trump said the world owed Carter "a debt of gratitude." Former President died on Sunday at the age of 100. World leaders responded with an outpouring of support, celebrating . The Georgia peanut farmer turned politician served as president from 1977 to 1981. But he is perhaps most known for his humanitarian work after leaving the White House. Carter championed human rights and pushed for peace in various corners of the world. In 1982, he founded to focus on such issues. In 2002, Carter received a for his efforts to promote peace and human rights. Carter also played an active role with Habitat for Humanity until the end of his life. "My father was a hero, not only to me but to everyone who believes in peace, human rights, and unselfish love," Carter's son, Chip, said in a via The Carter Center on Sunday. President Joe Biden said on Sunday that he would order a state funeral in Washington for Carter. "Today, America and the world lost an extraordinary leader, statesman, and humanitarian," Biden said in a . "With his compassion and moral clarity, he worked to eradicate disease, forge peace, advance civil rights and human rights, promote free and fair elections, house the homeless, and always advocate for the least among us," Biden added. "He saved, lifted, and changed the lives of people all across the globe." Biden said that the love Carter shared with his late wife, , was "the definition of partnership" and that their leadership was "the definition of patriotism." President-elect Donald Trump wrote on that Carter's presidency "came at a pivotal time for our country and he did everything in his power to improve the lives of all Americans. For that, we all owe him a debt of gratitude." "While I strongly disagreed with him philosophically and politically, I also realized that he truly loved and respected our Country, and all it stands for," Trump said in a . Trump had earlier criticized Carter's decision to hand over control of the Panama Canal to Panama, saying in a Truth Social Post on December 21 that his predecessor had " ." The president-elect recently accused Panama of charging US vessels "exorbitant prices" and threatened to retake control of the canal. Former President Barack Obama and former First Lady Michelle Obama said in a on Sunday that Carter had "the longest and most impactful post-presidency in American history." "Elected in the shadow of Watergate, Jimmy Carter promised voters that he would always tell the truth," the Obamas said. "And he did — advocating for the public good, consequences be damned. He believed some things were more important than reelection — things like integrity, respect, and compassion," the statement added. President Carter taught all of us what it means to live a life of grace, dignity, justice, and service. Michelle and I send our thoughts and prayers to the Carter family, and everyone who loved and learned from this remarkable man. — Barack Obama (@BarackObama) Former President George W. Bush said in his that Carter was a "man of deeply held convictions" who "set an example of service that will inspire Americans for generations." "President Carter dignified the office. And his efforts to leave behind a better world didn't end with the presidency," Bush said. Former President Bill Clinton and former Secretary of State Hillary Clinton said on Sunday that Carter had " ." "I will always be proud to have presented the Medal of Freedom to him and Rosalynn in 1999, and to have worked with him in the years after he left the White House," Bill Clinton said. Senate Majority Leader Chuck Schumer wrote on X that Carter led an "extraordinary life" that touched countless people's lives through his vision and generosity. As we remember President Carter's extraordinary life, we also honor the countless lives he touched through his vision and generosity. My thoughts are with the Carter family and all those mourning this incredible man. May his memory be a blessing and an enduring reminder of what... — Chuck Schumer (@SenSchumer) Sen. Bernie Sanders on X that Carter would be remembered as a "decent, honest and down-to-earth man" for both his time as president and his later humanitarian work. "He will be sorely missed," Sanders wrote. US Secretary of Transportation Pete Buttigieg shared a tribute to the former president on X, writing that Carter's "leadership, intellect, and moral example ennobled our country, during and ever since his presidency." President and Mrs. Carter were also extraordinarily gracious and kind to Chasten and me, receiving us warmly at their home and making us feel like friends even as we sat amazed by their presence and grace. — Pete Buttigieg (@PeteButtigieg) Carter's passing also saw tributes pouring in from foreign leaders such as Ukrainian President , British Prime Minister , and Canadian Prime Minister . "He was a leader who served during a time when Ukraine was not yet independent, yet his heart stood firmly with us in our ongoing fight for freedom," Zelenskyy said of Carter in his X post. "We deeply appreciate his steadfast commitment to Christian faith and democratic values, as well as his unwavering support for Ukraine in the face of Russia's unprovoked aggression," he added. Very sorry to hear of President Carter’s passing. I pay tribute to his decades of selfless public service. My thoughts are with his family and friends at this time. — Keir Starmer (@Keir_Starmer) "Jimmy Carter's legacy is one of compassion, kindness, empathy, and hard work. He served others both at home and around the world his entire life — and he loved doing it," Trudeau wrote on X. "He was always thoughtful and generous with his advice to me." Also on X, shared a photo of the former president wearing a tool belt in front of a construction site with the message: "Today, we honor President Carter's lifetime of service and his commitment to leaving the world better than he found it. May he rest in peace." Today, we honor President Carter’s lifetime of service and his commitment to leaving the world better than he found it. May he rest in peace. — Tim Cook (@tim_cook) said in her that Carter was her hero. The philanthropist said she knew Carter best as a "global health advocate" who took on "diseases that impact the world's poorest people, like Guinea worm disease." "When President Carter left office, there were more than 3.5 million cases of this painful, debilitating disease around the world each year. This year, thanks in no small part to the work of the Carter Center, that number was down to single digits," French Gates wrote. "One of my favorite teachings says: 'To know that even one life has breathed easier because you lived, this is to have succeeded.' We honor President Carter by remembering that because of him, life is healthier, better, and safer not just for one life, but for millions," she continued. Read the original article onNeurocrine Biosciences Announces FDA Approval of CRENESSITYTM (crinecerfont), a First-in-Class Treatment for Children and Adults With Classic Congenital Adrenal Hyperplasia
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