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Wednesday 14 August 2024

Do Harris ads masquerade as news?

06:14

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Also: How the VP candidates manage their money ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Wed Aug 14 2024

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

That news headline about presidential candidate Kamala Harris in your Google search results? It may have been written by her campaign. 

Harris' team has been launching sponsored posts on Google that link to real news content from various publishers but feature customized headlines and descriptions crafted by her campaign, a practice experts and Google called "common." One sponsored ad that links to NPR's website features the headline "Harris will Lower Health Costs." Another that links to the Associated Press reads "VP Harris's Economic Vision - Lower Costs and Higher Wages." The advertisements were first reported by Axios. 

Some marketing experts fear the ads could spell trouble.

How do the veep candidates manage their money?

A record 58% of Americans owned stocks in 2022, according to the Federal Reserve.

Democratic vice-presidential nominee Tim Walz was not one of them, Medora Lee reports.

In fact, Walz didn't own many investments, based on what's been released. No stock, no bonds, no home or any other real estate. Instead, the former teacher and congressman's assets consisted mostly of pensions, whole life insurance and college savings, a 2019 filing showed. He and his wife, Gwen, earned $166,719 before taxes in 2022.

Meanwhile, his Republican rival for the vice presidency, J.D. Vance, has a portfolio that includes stocks, real estate and cryptocurrency.

So what do financial advisers think about the two men's investment strategies?

📰 More stories you shouldn't miss 📰

Inflation eased in July
Here's how much emergency savings you really need
Trump throws Truth Social under the bus
Most, least expensive states
Chase vs. Wells Fargo: Which bank is better?

🍔 Today's Menu 🍔

For many Americans, McDonald's Happy Meals used to be an event. Sure, there was the food, but there were also toys like the Hamburglar and nuggets dressed like cowboys.

You never knew what you were going to get and scoring a new toy became an event: For children, that is.

Now, McDonald's is trying to tap into that energy with a grown-up version of the Happy Meal, which officially launched on Tuesday. Called Collector's Meals, the new menu item is a combo meal that comes with six unique cups.

Will adult Happy Meals release the inner child in us all?

About The Daily Money

Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.

Daniel de Visé covers personal finance for USA Today.

US Vice President and Democratic presidential candidate Kamala Harris speaks during a campaign rally at the Thomas and Mack Center, University of Nevada in Las Vegas, Nevada, on August 10, 2024. (Photo by RONDA CHURCHILL / AFP) (Photo by RONDA CHURCHILL/AFP via Getty Images)

Kamala Harris' campaign has been pushing out Google ads with altered news article headlines, something Google called "fairly common."

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Republican vice presidential nominee Senator JD Vance holds a press conference in Philadelphia, Pennsylvania, U.S., August 6, 2024.
 

Advisers weigh Walz and Vance's different investment strategies

Vice presidential candidates Tim Walz and JD Vance have very different ways of their finances. Advisers weigh in on their different approaches.

McDonald's is tapping into the nostalgia of keepsakes, offering customers the ability to receive one of six collectible cups with the purchase of a new combo meal starting Tuesday, Aug. 13.
 

McDonald's debuts Happy Meals for adults. What do they come with?

The Collector's Meals will have six unique collectible cups that will be available at participating McDonald's restaurants starting next week.

A person and dog walk past a "Join Our Team" sign posted at a restaurant which will be opening in the near future, amid a still-robust labor market, on Feb. 2, 2023 in Los Angeles, California. Unemployment benefit applications have declined to the lowest level since April 2022, with the U.S. Labor Department reporting that jobless claims fell slightly to 183,000 this week.
 

How much emergency savings do I need? More than you think.

A new report sheds light on how much emergency savings we really need. It's a large number.

Former President Donald Trump campaigns for reelection in Bozeman, Mont., on Aug. 9, 2024.
 

Panicked Trump is back on X. It's over for Truth Social.

Trump's Truth Social financial problems have been there this whole time. We just had to look.

Tourists enjoy sunbathing, surfing, boating and swimming at Waikiki beach in Honolulu, Hawaii, on January 1, 2010. Waikiki, which is a popular tourist destination, was a retreat for Hawaiian royalty in the 1800s. Much like the locals and tourists of today, Hawaiian royalty enjoyed surfing at Waikiki on early forms of longboards. AFP PHOTO/Jewel SAMAD (Photo credit should read JEWEL SAMAD/AFP/Getty Images) ORG XMIT: US-TOURI
 

Report: See the most and least expensive states to live in the US

The average U.S. household spends $2,126 a month on the 10 most common household bills, or $25,513 annually. In the most expensive state it's more like $37,000 annually.

As the Bureau of Labor Statistics released the Consumer Prices Index for September, all news headlines read about the same. Inflation has not tapered off, as some economists said it would as the U.S. adjusted to the post-pandemic world. There are still enough jobs open, some argued that a loose labor market would not drive up wages. A booming economy would increase production of the items most Americans need   for day to day life. Supply of these would be abundant, and Inflation would last a quarter or so, but not more. There were prominent economists who argued otherwise. Former Treasury Secretary Lawrence Summers, who is a well regarded economist, said the assumption inflation could be tamed was false. Government spending to help build jobs after the 2020 recession and more proposed by the Biden Administration would fund a surge in consumer spending. Troubled supply chains would mean many goods would be in low supply. The formula for sharp inflation is already in place, Summers argued.  The September CPI supported the alarms of people who believe in Summers' view. What consumers pay for goods   and services rose 5.4% on an unadjusted basis compared to September 2020. And, for some Americans, the numbers were worse.  Take the basics that most people pay money for each month. In September, the price of beef steak rose 22% from the same month last year. The prices of several other types of meat rose by 12% to 19%. Apples rose over 7% as did chicken. Other notable increases were juices and non-alcoholic drinks up 3.9%  What are the negative effects of this inflation? In two words, "consumer spending" While wages for most Americans have risen in the last year, they have rarely risen by 8% or 9%. Consumer spending could be undermined as the prices of things people use   regularly run higher than what they make. The worry is this will trigger a much slower economy.
 

Why aren't people feeling better about the economy?

Inflation has eased but Americans still worry about the total rise in prices since COVID. They still shop at discount stores and buy store-brand items

Cinderella Castle is the enchanting icon of Magic Kingdom at Walt Disney World Resort in Lake Buena Vista, Fla.
 

Disney reveals plans for new Disney World lands, experiences at D23

Disney fans were hoping for major park announcements at D23: The Ultimate Disney Fan Event in Anaheim. They sure got them Saturday night.

A San Francisco woman is facing more than three years in prison after being convicted of shoplifting more than $60,000 worth of items from Target using self-checkout. Aziza Graves, 43, was found guilty of one felony count of grand theft in violation and 52 misdemeanor counts of petty theft.
 

Sticky fingers: Shoplifting is wa-a-a-ay more common than you think

Many Americans have shoplifted, according to a new study. Here's what to know about the common - and complicated - crime.

USA TODAY
 

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