60 Minutes

The Paradox of Prosperity: Sentiment vs. Statistics Global markets are currently navigating a profound psychological rift. While macroeconomic indicators like GDP growth show surprising resilience, the domestic mood in the United States has soured to levels unseen since the peak of the 2020 pandemic. The Conference Board recently reported a nearly 10-point plunge in consumer confidence, reaching a decade-low. This isn't merely a "vibe session" of irrational pessimism; it is a data-driven reaction to a job market that has essentially frozen over for the average worker. Economist Diane Swank describes the current state as a "one-legged stool." We see a K-shaped recovery where the wealthiest tier drives airline revenue and luxury spending, while the middle and lower quartiles face a stagnating labor market. Only Healthcare has consistently added jobs, leaving other sectors vulnerable. When you strip away the top-tier spending and specific industry insulation, the underlying foundation looks precarious. The Geopolitical Realignment: The Mother of All Trade Deals While internal sentiment wavers, the external trade environment is undergoing a tectonic shift. The European Union and India just finalized a monumental trade agreement after twenty years of stalled negotiations. This "mother of all trade deals" covers one-quarter of the global economy and serves as a direct response to the protectionist stance of the United States. Middle powers are no longer waiting for American leadership. By slashing tariffs on European cars from 110% to 10% and reducing levies on spirits from 150% to 20%, India is opening a previously fortress-like market. This deal signaling a broader global realignment. As the U.S. leans into tariffs, the rest of the world is building a secondary circuit of commerce that bypasses American volatility. If the U.S. continues to use trade as a stick rather than a carrot, it risks moving from being the center of the table to being on the menu. Platform Fragility and the TikTok Migration The technological sector is facing its own crisis of trust and infrastructure. The transition of TikTok to a U.S.-based joint venture under Oracle has been marred by systemic failures. Beyond the technical "cascading systems failure" cited by the company, a deeper narrative of censorship and mismanagement is driving users toward competitors like Upscrolled. The technical glitches—videos showing zero views and DMs failing—highlight the massive operational risk of migrating data at this scale. When users perceive that a platform is no longer a neutral utility, they vote with their feet. The 150% surge in app deletions over five days suggests that the cultural capital of TikTok is not as permanent as ByteDance once assumed. This instability opens the door for a new era of decentralized or alternative social media platforms to capture the attention economy. Media Extinction and Institutional Pivot Legacy institutions are reacting to these shifts with radical restructuring. At CBS News, new Editor-in-Chief Bari Weiss delivered a blunt ultimatum: adapt to the social media age or face extinction. The pivot toward a creator-first model—hiring podcasters and newsletter writers like Andrew Huberman and Peter Attia—reflects a desperate attempt to regain trust. With confidence in mass media at a record low of 28%, news organizations are realizing that broadcast television is a dying medium. They are now chasing the two billion competitors on the internet, attempting to leverage individual brands to salvage institutional relevance. Educational ROI and the Wealth Gap Yale University is attempting to mitigate this same loss of institutional legitimacy by expanding financial aid. By offering free tuition to families earning up to $200,000, Yale is targeting the "squeezed middle" that is often ineligible for low-income grants but unable to afford the $100,000 annual sticker price. This move is less about charity and more about defending the ROI of a degree. In an era where the value of higher education is under scrutiny, elite universities must eliminate the debt barrier to maintain their status as the primary gatekeepers of the American elite.