Newsletter Oct 29, 2021

President Biden outlined the details behind his drastically reduced Build Back Better package Thursday, but it's still too early to tell if it will pass.

3 things you must know

Biden gambles on amended Build Back Better framework
President Joe Biden took one of the boldest moves of his political career Thursday when he unveiled the details of his compromised Build Back Better plan before Congress and then hopping aboard Air Force One for meetings in Europe. He was barely over the Atlantic Ocean's horizon before his critics fired back from all side.
Party progressives pounded the president for giving into moderate Democrats, who still aren't happy with the $1.75 trillion price tag. And Republicans are still reeling from the wealth tax put forward by Democrats that target billionaires' unrealized gains to pay for it.
Progressives delayed Thursday's vote to get clarification after Biden made a hard sell, telling fellows Dems that their seats and his presidency are riding on passing the scaled-back spending bill. If they can't come to an agreement, Biden may finally be right.
SEE THE CUTS TO THE AMENDED BUILD BACK BETTER BILL

Why one investor says crypto, tech, housing are in bubbles
There's a six-letter word that starts with a "b" that no investor wants to hear -- bubble. The concept that an equity can burst (and leave investors broke) sends shock waves through Wall Street, which is why all-star analyst Richard Bernstein's comments were so scary to those with investments in crypto, real estate and tech.
Appearing on CNBC on Thursday, Bernstein warned that the nationâ€™s supply chain issues are going to have a negative effect on the economy in the long term and that the housing market, cryptocurrency and some tech segments are in danger, and the American economy â€œmay be in the biggest bubble of my career.â€
FIND OUT WHY BERNSTEIN BELIEVES WE'RE IN A BUBBLE

Why this Thanksgiving dinner will be priciest on record
If you are considering a diet before the holidays, Thanksgiving may be the perfect time to start. With the cost of turkey and all the trimmings at record highs, this year's homemade Thanksgiving feast will be the most expensive than any in the holiday's history.
With food prices across the board up 3.7% over last year and some traditional items seeing even higher price hikes, Americans can expect to spend 4% to 5% more to put out the same spread this year. The average cost for dinner is estimated at about $47.
FIND OUT WHY THANKSGIVING DINNER HAS GONE UP

Markets

DJIA	35,730.48	0.68%
S&P 500	4,596.42	0.98%
Nasdaq Composite	15,448.12	1.39%
Japan: Nikkei 225	28,892.69	0.25%
UK: FTSE 100	7,229.56	-0.27%
Crude Oil Futures	82.98	0.21%
Gold Futures	1,800.00	-0.14%
Yen	113.70	0.11%
Euro	1.17	-0.27%
* As of market close

Facebook parent changes name to Meta

Facebook CEO Mark Zuckerberg made it official Thursday, announcing the much-anticipated parent company name change of Facebook to Meta (as in we've never 'Meta' guy quite like Zuckerberg). He said the name was selected to reflect all his companies' move to the metaverse.

â€œRight now, our brand is so tightly linked to one product that it can't possibly represent everything that we're doing today, let alone in the future," he said, listing Instagram and WhatsApp in the transformation. â€œWe believe the metaverse will be the successor of the mobile internet.â€

Bold move or PR stunt? Like we said, Zuckerberg's never easy to read.

FIND OUT META'S AMBITIOUS TRANSITION TO THE METAVERSE

3 in 10 parents oppose vaccinating kids

If you thought Americans were vaccine hesitant during the original roll out of shots, they are down-right vaccine stubborn when it comes to inoculating their kids for COVID-19. A new survey from the Kaiser Family Foundation showed that 3 in 10 parents are saying no way.

The survey found that parents have a wide range of concerns over the soon-to-be-approved child versions of the vaccine, many of them based on misinformation they've read online. Some cited the cost of the shots (they are free) and fears of future infertility (also debunked).

FIND OUT THE BIGGEST CHALLENGES FACING CHILD VACCINES

Trip-or-treat? THC-laced candy a concern

Remember the good ol' days when all trick-or-treaters had to worry about was the occasional razor blade in an apple? With marijuana use in some form now legal in a majority of states, a new Halloween concern exists over the accidental distribution of THC-laced candy.

Many of the edibles sold in legal states are designed to closely resemble the straight-laced, over-the-counter candies, like Stoney (not Sour) Patch Kids and Double Stuff Stoneos (not Oreos). Authorities are warning parents and users to avoid putting them in the hands of kids.

SEE WHAT STATE ATTORNEYS ARE SAYING ABOUT THC CANDY