Axios PM: Cash hoarding "fear factor"

Plus: ESPN star's meteoric rise | Friday, December 03, 2021

Open in app View in browser   Presented By Facebook   Axios PM By Mike Allen ·Dec 03, 2021 Today's PM — edited by Justin Green — is 498 words, a 2-minute read.     1 big thing: Prosecutors charge suspect's parents Photo: Scott Olson/Getty Images   The parents of the 15-year-old Michigan high school shooting suspect have each been charged with four counts of involuntary manslaughter. The big picture: It's unusual to charge the adults or parents responsible for weapons used in high school shootings, notes Axios' Oriana Gonzalez. Oakland County prosecutor Karen McDonald said the charges stem from the father's alleged purchase of a handgun for their son. Social media posts from the suspect's mother indicate the gun was a Christmas gift, McDonald added. McDonald said a teacher caught the suspect searching for ammunition on his phone during class last month. When contacted by school administrators, Jennifer Crumbley texted her son, "LOL I'm not mad at you. You have to learn not to get caught." Between the lines: On the day of the shooting, the Crumbleys were reportedly called to the school after a teacher found a note on the suspect's desk, AP reports. The note featured a drawing of a gun pointing at the words, "The thoughts won't stop. Help me." Prosecutors said the parents "resisted the idea of their son leaving the school at that time," per The Washington Post. "Less than three hours later, the first 911 calls were made about shots fired at the school."     2. Cash hoarding "fear factor" Illustration: Aïda Amer/Axios   Americans are refusing to spend down their $1.6 trillion in COVID-inflated "excess savings," and new fears about Omicron aren't helping. "Even after accounting for rising prices, the typical American family has more money in their pockets than they did last year," President Biden said today. The big picture: "We see a lot of folks sitting on an incredibly high savings amount, and it's really just a fear factor," AIM Advisors partner Nina O'Neal told The Wall Street Journal. "[W]ith this new variant now on the horizon, I think we're in for more of the same of what we've seen over the last six months," the Brookings Institution's Wendy Edelberg told the Journal.     A message from Facebook Celebrate Black-owned shops like House of Takura     Annette, founder of House of Takura, designs "bags that empower" and she's one of the many Black-owned businesses we're proud to support through our #BuyBlack Friday Gift Guide this holiday season. Find House of Takura and others through the #BuyBlack Friday Gift Guide.     3. Catch up quick President Biden speaks to reporters today after delivering remarks on the November jobs report. Photo: Sarah Silbiger/Bloomberg via Getty Images The National Weather Service issued a rare blizzard warning in Hawaii. There are no other winter storm warnings or blizzard warnings in the continental U.S at the moment. Go deeper. Berkshire Hathaway's Charlie Munger said at a conference that markets are now overvalued and "even crazier than the dot-com era," the Australian Financial Review reports. Russian President Vladimir Putin is demanding a legally binding guarantee that NATO will not expand east. Go deeper.     4. Meteoric rise for ESPN star ESPN's Malika Andrews. Photo: Jim Poorten/NBAE via Getty Images Malika Andrews was lead reporter in the NBA COVID bubble for ESPN at 25. Six months later, she is anchoring ESPN's daily show, "NBA Today." The big picture: Going through the bubble, where she lived and worked in quarantine with NBA players, "created a different sort of trust," she told Axios Sports co-author Kendall Baker. "I look back at the bubble as a net positive. Maybe it's because of how my career continued to go from there. Maybe it's because I got to cover things that aren't often the central focus in sports." Keep reading.     A message from Facebook Shop Black-owned businesses this holiday season     Facebook is celebrating the holiday season with the return of our #BuyBlack Friday Gift Guide - a curated collection of Black-owned businesses. Explore the gift guide to find businesses like House of Takura. Learn more about our #BuyBlack Friday Gift Guide.   Like this email style and format? Learn more about Axios HQ. It'll help you deliver employee communications more effectively.   Axios thanks our partners for supporting our newsletters. If you're interested in advertising, learn more here. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Suite 1300, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. Change your preferences or unsubscribe here.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: