特朗普指责华尔街导致住房危机 新膳食指南建议增加蛋白质摄入

准备好迎接AI了吗？

Ready for AI?

首先，你应该把数据基础打好。

First things first, you should get your data foundation in order.

这就是Quest软件的用武之地。

That's where Quest Software comes in.

Quest帮助客户创建可信的AI就绪数据，以更低的风险管理Microsoft Active Directory，并保护身份免受勒索软件侵害。

Quest helps customers create trusted AI ready data, manage Microsoft Active Directory with less risk, and protect identities from ransomware.

当其他人还在谈论AI的可能性时，Quest软件帮助客户为AI做好数据准备，并为未来的成功奠定基础。

While everyone else talks about AI possibilities, Quest Software helps customers get their data ready for AI and build a foundation for future success.

了解更多，请访问quest.com/brew。

Learn more at quest.com/brew.

那就是quest.com/brew。

That's quest.com/brew.

早上好，Brew Daily Show。

Good morning, Brew Daily Show.

我是尼尔·弗莱曼。

I'm Neil Fryman.

我是托比·霍威尔。

And I'm Toby Howell.

今天，特朗普总统将住房危机归咎于华尔街。

Today, president Trump blames Wall Street for the housing crisis.

新的食物金字塔刚刚发布。

Then the new food pyramid just dropped.

红肉被纳入其中。

Red meat is in.

加工食品被排除在外。

Processed food is out.

今天是1月8日，星期四。

It's Thursday, January 8.

让我们出发吧。

Let's ride.

早上好。

Good morning.

你知道吗，我觉得我找到了今年目前为止最棒的科学事实：水母的睡眠习惯与人类惊人地相似，这对我们大多数人来说都是新闻，因为我们根本从未想过水母也会睡觉。

You know, I think I've stumbled upon the best science fact of the year so far, which is that jellyfish have eerily similar sleeping habits to humans, which is news to most of us who never even considered that jellyfish sleep in the first place.

本周发表的一项研究发现，水母似乎每天睡眠约八小时，会午休，甚至在没睡够整晚时也会打盹。

A study published this week found that jellyfish seem to sleep about eight hours a day, take midday naps, and even snooze when they didn't get a full night of rest.

考虑到水母没有大脑，这项研究为我们提供了关于睡眠起源及其极其古老本质的重要见解。

When you take into account that jellyfish don't have brains, the research gives us key insights into the origins of sleep and how extremely, extremely ancient it is.

托比，你能想象在海洋里遇到一只通宵熬夜的水母吗？

Toby, can you imagine encountering a jellyfish in the ocean that had pulled an all nighter?

大概是个脾气很糟的家伙。

Probably a grumpy fellow.

我不知道能不能判断水母是在睡觉还是没睡，但通过观察没有大脑的动物来探究睡眠在生命中的基本作用，它们还不如直接来看看我打个盹。

I don't know if I could determine if a jellyfish was sleeping or not sleeping, but looking at brainless animals to determine sleep's fundamental purpose in life, They could come just watch me take a snooze.

然而，睡眠作为一种普遍的生物节律，而非纯粹的神经现象，让我感觉就像《阿凡达》一样。

Sleep being this universal biological rhythm though instead of a purely neurological phenomenon, it felt like Avatar to me.

你知道他们所说的女神Ewa，是连接一切的存在。

You know how they have like the goddess Ewa in, like, connecting everything.

睡眠是我们与水母、与彼此之间共有的东西，这一点很有趣。

The fact that sleep is our, you know, common thing that we share, with jellyfish and each other.

我觉得我们应该多去拜访Ewa。

I think we should go visit Ewa more.

多去拜访我们的女神，因为我看着你，也看着我自己。

Visit our goddess more, though, because I'm looking at you, looking at myself.

我们现在眼下都有黑眼圈了。

We got some bags under our eyes right now.

接下来听一段来自赞助商Rubrik的广告。

And now a word from our sponsor Rubrik.

尼尔，你有没有过那种感觉，明明挥杆动作完美无缺，结果球却偏到了完全不同的地方？

Neil, you ever take a golf swing that you swear is perfect, then the ball slices into a completely different zip code?

AI代理就像这样。

That's what AI agents are like.

潜力巨大，但它们很容易跑偏。

High potential, but they can go off track fast.

没有。

No.

这种事从未发生在我身上，托比。

That has personally never happened to me, Toby.

但这就是Rubrik Agent Cloud存在的原因。

But that is why Rubrik Agent Cloud exists.

它是唯一一个能让你监控、管理和回滚你的AI代理的平台，防止它们把整个运营带进死胡同。

It's the only platform that lets you monitor, govern, and rewind your AI agents so they don't hook your entire operation into the woods.

它提供全面的可见性、策略执行、实时风险评分，如果事情出错，你只需几分钟就能回滚。

It gives you total visibility, policy enforcement, real risk scoring, and if things go sideways, your rewind is done in minutes.

这就是医院和银行信任它的原因。

That's why hospitals and banks trust it.

如果你的业务依赖AI代理，你就需要监控、管理和回滚它们操作的能力。

If your business relies on AI agents, you need the ability to monitor, govern, and rewind their actions.

目前，我们的听众可以独家提前访问 Rubrik Agent Cloud。

Right now, our listeners get exclusive early access to Rubrik Agent Cloud.

前往 rubrik.com。

Head to rubrik.com.

那就是 rubrik.com。

That's rubrik.com.

Rubrik.com。

Rubrik.com.

昨天，特朗普总统宣布打算禁止大型机构投资者购买更多独栋住宅，此举震惊了房地产行业，他将此称为对美国梦的捍卫。

President Trump shocked the housing industry yesterday when he announced his intention to ban large institutional investors from buying up any more single family homes and what he's framing as a defense of the American dream.

在 Truth Social 上的一篇帖子中，特朗普写道：人们住在家里，而不是公司里，并将这一决定与创纪录的高房价联系起来。

In a post on Truth Social, Trump wrote, people live in homes, not corporations, and tied the decision to record high housing costs.

自2019年以来，全美房价上涨了50%以上，去年夏天全国中位房价突破了43.5万美元的峰值。

Home prices are up more than 50% nationally since 2019 with the national median home price crossing a peak of $435,000 last summer.

然而，机构投资者可能更像是一个方便的替罪羊，而非住房负担能力问题的真正根源。

However, institutional investors might be more of a convenient scapegoat than an actual root cause of housing unaffordability.

像黑石这样的大公司仅拥有全美约2%至3%的住房，但在阳光地带等热门房地产市场，这一比例更高。

Big corporations like Blackstone only own about two to 3% of US housing nationally, though that number is higher in hot housing markets like the Sunbelt.

市场对这一公告反应不佳，导致主要住宅房地产投资者黑石股价昨日下跌高达9%，而美国最大租赁住房业主Invitation Homes股价下跌高达10%。

The market did not take kindly to the announcement sending shares of Blackstone, a major investor in residential real estate, down as much as 9% yesterday, and Invitation Homes, the biggest owner of rental homes in The US, as much as 10%.

特朗普表示，他正在要求国会将他的指令立法化，但目前关于执行、豁免以及现有持有资产是否受影响仍缺乏明确性。

Trump said he is asking Congress to codify his directive into law, but so far, there's been a little clarity on enforcement, exemptions, or if existing holdings would be affected.

因此，在执行方面，可能有点本末倒置，但对机构投资者来说，尼尔，这仍然是一个令人恐惧的信号。

So the cart may be before the horse a little bit in terms of enforcement, but to an institutional investors, Neil, it is still a scary cart.

是的。

Yeah.

如果你愿意的话，让我们来上一堂历史课。

Let's do a little history lesson if you'll oblige me.

华尔街进入单户住宅市场，在美国历史上并不是长期存在的现象。

Wall Street getting into the single family housing game is not something that had happened for a long time in American history.

这实际上是金融危机的直接产物。

This is actually a product very much of the financial crisis.

你还记得2008年和2009年那场巨大的房地产崩盘吗？

There was that huge housing blowup in 2008 and 2009, if you do remember.

我听说你那时候还在上中学。

I've heard of you were in middle school.

但基本上，当时的情况是，所有这些开发商和房东都积压了大量卖不掉的房产。

But basically, what happened was all these builders and all these landlords had all this unwanted inventory.

有大量的房屋被法拍。

There was tons of foreclosures.

他们找不到买家，但这些房子的价格已经跌到了地板价。

They had nobody to sell these houses to, but they were at bargain basement prices.

当时谁有资金入场呢？

Who was there to soup in?

2009年的时候，谁手里有现金？

Who actually had cash in 2009?

那就是华尔街。

That was Wall Street.

因此，他们开始在止赎拍卖中大量收购这些破旧房屋，到2022年，这种收购规模持续增长。

So they started buying up these dilapidated homes often at foreclosure auctions to the point where it's steadily increasing them by 2022.

这正值新冠疫情高峰期的住房繁荣阶段。

This is during peak COVID housing boom.

投资者购买了超过四分之一的单户住宅。

Investors were buying more than one in every four single family homes sold.

快进到2004年和2005年。

Fast forward to 2004 and 2005.

他们无疑已成为替罪羊，许多人指责他们推高了房价，使普通购房者难以入手第一套住房。

They have become, certainly a scapegoat or certainly a lot of people are blaming them for squeezing housing prices higher and not allowing the average homeowner to get into that starting home.

我认为，无论政治立场如何，人们都将机构投资者在住房市场中的增长，视为过去六年房价飙升50%的原因之一。

I would say people on both sides of the aisle point to the growth of institutional investors in the housing market as one reason why we're seeing home prices soar 50% in the last six years.

是的。

Yeah.

即使你看到总数，发现这只占市场的一小部分，它仍可能让人感觉像一个妖魔。

It can feel like a boogeyman even if you look at that total number and say it is a smaller slice of the pie than it might initially appear.

但如果你去我提到的那些热门房地产市场，比如休斯顿、迈阿密、菲尼克斯、拉斯维加斯，这些地方正是机构投资者蜂拥而至的地方，因为那里有丰厚的利润可图。

But if you go to those hot housing markets like I described, cities like Houston, Miami, Phoenix, Las Vegas, like these are places where institutional investors are flocking to because that's where the money is to be made.

所以，如果你住在这些地方，可能会觉得这个问题被严重放大了。

So if you live in one of those places, it maybe feels like an outsized problem.

此外，如果你是普通购房者，很难与机构竞争。

Also, institutions are tough to bid against if you are a homeowner.

他们通常使用全现金报价。

They often use all cash offers.

他们往往能迅速完成这些房产的交易。

They often close very quickly on these properties.

他们很少会为浴室瓷砖之类的东西讨价还价，因为他们并不太在意厨房的后挡板长什么样——他们只是把房产当作投资资产。

They rarely are negotiating over, you know, bathroom tiles because they don't really care as much about what the backsplash looks like in the kitchen that they're they're they're treating it as an investment asset.

因此，竞争格局本身也是让人感到沮丧的原因，即使这在整体市场中只占很小一部分。

So the competition dynamics is also a thing that makes people frustrated even again if it's a small slice of the overall pie.

如果你去和房地产行业的经济学家聊聊，他们会说，机构投资者实际上在房地产市场中扮演着非常重要的角色。

If you talk to an economists in in the housing industry, a lot of them say that actually institutional investors provide a very important role in the housing market.

他们反驳了对黑石及其同类进入市场的批评，称如今房地产市场中，真正愿意掏钱买房的人并不多。

They do push back against the criticisms of Blackstone and their ilk getting into the market because they say, look, the housing market right now, not a lot of people are forking over anything to buy houses.

而由华尔街支持的机构投资者拥有大量现金，他们实际上为市场提供了至关重要的流动性。

And the institutional investors backed by Wall Street have a ton of cash to play with, and they are actually providing really important liquidity to the market.

我们真正需要的是更多的住房。

There's all what we need is more housing.

我们需要推动更多的房屋建设，而事实上，目前需求并不旺盛。

We need to spur more home building, and the fact is that there's just not a lot of demand.

因此，他们提供了大量关键的需求。

So they are providing a lot of crucial demand.

另一方面，华尔街还以购买需要翻新的房屋为主，并以远高于普通房主的价位进行翻新。

And on the other side, they're also Wall Street is known to buy fixer uppers essentially and and refurbish them at a lot higher rates than the average homeowner.

所以他们认为，仅凭这两点，他们并不介意华尔街参与其中。

So they say for those two things, actually, they don't mind that Wall Street is in the game.

我认为最后的问题是，特朗普真的能做到这一点吗？

I think the final question here is can Trump actually do this?

目前尚不清楚总统是否能在没有国会批准的情况下实施禁令。

It is unclear if the president can impose a ban without congress right now.

因此，这也引发了大量反对声音，认为这是反自由市场的做法。

So it does also tons of pushback too about being, like, anti free market.

因此，这项禁令能否在国会通过，仍然是一个悬而未决的问题。

So whether it would make it through congress at all is the outstanding question.

所以目前仍然只是执行层面的问题。

So there is still just enforcement.

会不会有豁免情况？

Is there gonna be exemptions?

所有这些问号都依然存在，悬而未决。

All of those question marks are still out there and lingering.

接下来，美国正在升级其切断委内瑞拉石油出口的行动，这次强行登船并扣押了另外两艘油轮。

Moving on, The US is escalating its attempt to cut off Venezuelan oil exports, this time forcibly boarding and seizing two more tankers.

一艘船在加勒比海被扣押，但另一艘尤其具有地缘政治敏感性，因为它当时有俄罗斯海军舰艇护航。

One vessel was taken in the Caribbean Sea, but the other was especially geopolitically charged as it was being escorted by Russian naval assets.

这艘船，原名贝拉一号，在逃避美国抓捕超过两周后，最终在被美国扣押前寻求了俄罗斯的保护。

After the ship, formerly known as the Bela one, evaded US capture for more than two weeks, it ultimately claimed Russian protection before it was seized by The US.

它被扣押加上在加勒比海被扣押的装载200万桶原油的油轮，使被扣押船只总数达到四艘。

Its capture combined with capture of the Caribbean tanker lading with 2,000,000 barrels of of crude brings the total number of detained ships to four.

这里的策略是什么？

What's the game here?

特朗普政府希望控制阿拉基斯上的香料生产。

The Trump administration wants to control spice production on Arrakis.

我的意思是，加拉加斯的石油生产。

I mean, oil production in Caracas.

周二，特朗普宣布，委内瑞拉将向美国移交3000万至5000万桶受制裁的石油，其价值接近30亿美元，将在美国境内进行炼化。

On Tuesday, Trump announced that Venezuela would turn over 30 to 50,000,000 barrels of sanctioned oil to The US with a value just short of $3,000,000,000 to be refined inside the our borders.

能源部长克里斯·赖特昨天跟进表示，美国将无限期监督该国的石油生产。

And the energy secretary Chris Wright followed up those comments yesterday saying that The US will oversee the country's oil production, quote, indefinitely.

现在，最大的疑问仍然存在，尼尔：过去二十年中退出委内瑞拉的任何石油公司是否愿意重返？

Now the big question mark still remains, Neil, is if any of the oil companies that exited Venezuela over the last two decades are willing to return.

据报道，能源部长赖特一直在试图说服康菲石油、埃克森美孚和雪佛龙等公司投资钻探，但这一提议仍面临不小阻力。

Energy secretary Wright has reportedly been trying to convince companies like ConocoPhillips, ExxonMobil, and Chevron to invest in drilling, but it remains a bit of an uphill sell.

是的。

Yeah.

我认为这里的主要新闻是，美国实际上正在无限期地对委内瑞拉的石油生产实施事实上的控制。

I think the big headline here is that The United States is essentially taking de facto control of oil production in Venezuela, quote unquote, indefinitely.

他们表示，希望借此对委内瑞拉经济施加影响，因为该国经济基本上依赖石油出口，他们想掌控这一资源，迫使他们在捕获马杜罗后建立的新政府顺从他们的意愿。

And they say they want that to have leverage Venezuela's economy is basically its oil exports, and they want to take control of this, to have leverage to make this new government after they captured Maduro bend to their will essentially.

在现代美国历史上，几乎找不到任何类似的先例，甚至可以说完全没有，即美国政府直接接管另一个国家的石油出口。

And it's just there's very few historical parallels, perhaps none in modern American history of the United States government essentially taking over the oil exports of another country.

但这似乎是他们用来迫使委内瑞拉新政府更亲美的手段。

But this seems like the lever that they're gonna play in order to make this new government in Venezuela be more United States friendly.

但要让这一手段产生效果，前提是石油必须开始流动。

But in order for that, you know, lever to have any effect is you need the oil to start flowing.

换句话说，你需要香料开始流通。

You need spice to flow, if you will.

这是一个艰难的推销，因为石油公司会想：我不确定是否真的愿意投资数十亿美元来让这些老化的基础设施变得更高效。

And that is a tough sell because oil companies are going, I don't know if I really wanna invest billions of dollars into making this aging infrastructure start to become more efficient.

我们可能还需要一些额外的甜头。

We, one, probably needed some sugar on the side.

据说政府正在提出用纳税人资金来支付重建费用，以换取部分利润。

You know, there's been rumors out there that the administration is offering up taxpayer money for rebuilding costs in exchange of some of the profits.

明天，特朗普计划在白宫会见石油公司高管。

And then tomorrow, Trump is scheduled to meet with oil executives at the White House.

但许多石油公司高管可能会对他们说：嘿。

But a lot of those oil executives are probably going to them and say, hey.

在我们重新投入并开始开采石油之前，我们需要一些切实的保障。

We need some serious guarantees here before we dive in and start, you know, pumping oil once more.

是的。

Yeah.

美国公司重返委内瑞拉面临着诸多挑战。

There are a number of challenges for American companies coming back to Venezuela.

我们再来上一节历史课。

Let's do another history lesson here.

对不起。

I'm sorry.

我有点停不下来了。

I'm just going full.

我主修历史。

I was a history major.

但几十年来，美国在委内瑞拉的石油产量一直很高，而委内瑞拉拥有世界上已知最大的原油储量。

But there was a lot of American oil production in Venezuela for decades, and they sit on the largest known crude reserves anywhere in the world.

因此，这是一个利润丰厚的市场。

So it is a it can be a lucrative market.

但委内瑞拉在20世纪70年代和2000年代经历了两次国有化浪潮，几乎没收了美国的资产并将它们驱逐出境，因此如今唯一仍在委内瑞拉运营的美国石油巨头只剩下雪佛龙。

But there are two waves of nationalization from Venezuela in the 70s and in the 2000s that essentially seized American assets and kicked them out of the country so that the only one remaining now, the only oil the only American oil major now operating in Venezuela is Chevron.

那里腐败严重。

The there is tons of corruption.

基础设施极度破败，委内瑞拉的政治前景也充满不确定性。

The infrastructure is extremely dilapidated, and there is a lot of uncertainty about the political future of Venezuela.

因此，特朗普仍面临诸多挑战，他必须说服这些石油公司投资——据一些人称，未来十年每年投入100亿美元，才能将委内瑞拉的石油产量恢复到每天350万桶的水平。

So there are a lot of challenges that remain that Trump has to convince these oil companies to invest what some are saying $10,000,000,000 a year over the next decade to get Venezuela's oil production back up to the 3,500,000 barrels.

几十年前，这曾是它的产量峰值。

That was its peak couple decades ago.

从宏观角度看，这些油轮被扣押后，原油价格发生了什么变化？

And then just big picture here, what happened to the price of crude after these tankers were seized?

实际上，油价下跌了多达2.4%，可能是因为特朗普表示这些石油将运往美国，而美国将实际控制委内瑞拉的石油生产；当更多供应进入市场时，通常会略微压低价格。

It actually fell as much as 2.4%, maybe to the fact that Trump says that the oil will be shipped to America and that America is gonna take control of, you know, the de facto production of Venezuela because when more supply comes online, that actually tends to send prices down a little bit.

这会略微缓解价格压力。

It softens prices a little bit.

与此同时，那些具备处理委内瑞拉原油能力的墨西哥湾沿岸炼油商股价上涨，比如菲利普斯66和瓦莱罗能源公司。

Meanwhile, shares of Gulf Coast refiners that are well equipped at, you know, dealing with the type of crude that comes out of Venezuela are rising names like Phillips sixty six, Valero Energy.

这些公司如果委内瑞拉石油开始在美国加工，似乎将成为受益者。

These are companies that seem to be winners if, you know, Venezuelan oil started to become processed in The United States.

特朗普政府昨天发布了新的膳食指南，彻底将食物金字塔倒了过来。

The Trump administration released new dietary guidelines yesterday, and they just flipped the food pyramid upside down.

牛排、奶酪和乳制品这些过去位于底层的食物现在被放在了顶部，而政府则敦促美国人避免高加工食品和添加糖。

Steak, cheese, and dairy, foods that used to be at the bottom, are now at the top, while the government is urging Americans to pass on highly processed foods and added sugar.

鼓励摄入更多蛋白质并在家做饭。

More protein and cooking at home are encouraged.

白面包、薯片和饼干。

White bread, chips, and cookies.

像躲避瘟疫一样避开它们。

Avoid them like the plague.

这些国家膳食指南每五年发布一次，为学校、医院等场所的餐食设定了官方标准，并向食品公司传递信号，表明他们应该生产哪些类型的产品。

Released once every five years, the nation's dietary guidelines set the official standard for meals at places like schools and hospitals and serve as a signal for food companies around what types of products they should produce.

今年的版本处处可见RFK Jr.的痕迹。

This year's edition has RFK Jr.

明显是他写的。

Written all over it.

卫生与公共服务部长一直主导所谓的MAHA运动，指责食品巨头用超加工食品毒害美国人的饮食。

The Health and Human Services secretary has been spearheading the so called MAHA movement that accuses food giants of poisoning Americans' diets with ultra processed items.

其中一些举措，比如移除人工食用色素和劝阻高加工食品，得到了营养专家的欢迎。

Some of those efforts, like removing artificial food dyes and discouraging highly processed foods, are welcomed by nutrition experts.

但其他举措，如妖魔化植物油和推广牛脂，则受到了更为冷淡的对待。

Others like the vilification of seed oils and promotion of beef tallow have gotten a more chilly reception.

尽管如此，这些新指南仍对一份四十多年来仅经历细微调整的饮食准则体系造成了重大冲击。

Still, the new guidelines amount to a significant shake up to a rule book that's only seen subtle changes since it was first introduced more than forty years ago.

托比，从食品行业角度来看，谁是这里的赢家和输家？

Toby, in terms of the food industry, who are the winners and the losers here?

我的意思是，我认为赢家再次是蛋白质。

I mean, I think the winner once again is a protein.

如今，蛋白质无所不吃。

Protein eats everything these days.

政府明确表示：我们结束了对蛋白质的战争。

The administration literally said we are ending the war on protein.

他们建议你每天每公斤体重摄入1.2至1.6克蛋白质。

They're saying that you should consume 1.2 to 1.6 grams of protein per kilogram of body weight.

这是一个新的变化。

That's a new development.

我们现在以体重为基准来衡量，这可能比之前的指南高出50%到100%。

The fact that we're measuring it in terms of your body weight, that it's probably jacking it up to 50 to a 100% higher than a previous guideline.

因此，那些把蛋白质强行添加到爆米花等本不该含蛋白质的食物中的企业，很可能会成为赢家。

So everyone who is force fed protein into, you know, popcorn into things that it probably shouldn't be in, is probably gonna become a winner here.

我认为全脂产品也是一个赢家。

I think a winner is also just full fat products.

脂肪在美国营养史上长期被妖魔化，但这项新指南对脂肪来源引入了一些细微差别，指出橄榄油可能有益，黄油和牛脂则更具争议性。

Fat has been vilified over a lot of, you know, American nutritional history, but now this guideline introduces some nuances around fat sources saying that, hey, olive oil can be good, butter and beef towel, those are the a little bit more of the controversial ones.

酒精行业可能在修订后的指南中成为意外赢家，因为官方立场现在建议减少饮酒以促进整体健康。

The alcohol industry could be a sneaky winner in the revised guidelines because now the official stance is that people are advised to consume less alcohol for better overall health.

这与以往的具体建议不同，以前建议男性每日最多饮用两杯，女性每日最多一杯。

That is a change from when previous specific recommendations were that you should have a maximum of two drinks per day for men and one drink per day for women.

因此，取消酒精指南中的这种具体性可能对酒精行业有利。

So taking that specificity out of the alcohol guidelines could be a winner for the alcohol industry.

是的。

Yeah.

输家肯定是可乐、果汁以及任何含有添加糖的产品。

A loser is definitely just Coke and juice and anything that has added sugars.

因此，这些指南指出，美国人每餐摄入的添加糖不应超过10克。

So the guidelines here say that Americans should consume no more than 10 grams of added sugar per meal.

他们对添加糖的定义是：看看标签，如果你看到任何像糖、糖浆，或以-o-s-e结尾的成分，比如蔗糖素之类的，你就应该避免食用。

And what they say added sugars are is this, you know, look at the label and if you see anything like sugar, syrup, or anything ending in dash o s e o, so like sucralose or things like that, that is something you should stay away from.

这是一个相当严格的规定，因为很多我们吃的食物都含有大量添加糖，这或许正是他们这样做的原因——为了引起注意。

Now this is a pretty strict guideline because there's a lot of added sugar in stuff we eat, which is maybe the reason that they're doing this to call attention.

一杯蜂蜜燕麦圈大约含有12克添加糖，而一罐12盎司的可口可乐则含有39克添加糖。

A cup of something like Honey Nut Cheerios includes about 12 grams of added sugar, and one twelve ounce can of Coca Cola has 39 grams of added sugar.

我那顿用蜂蜜燕麦棒配可乐的早餐再也不建议吃了。

My breakfast of Honey Nut Churros covered by Coke is no longer advisable.

我也认为你说得对。

I I think you are right too.

关于糖的另一个重大变化是，他们将建议儿童开始摄入糖的年龄从两岁提高到了十岁。

One other big kind of change when it comes to sugar is that they raised the age where kids were recommended to be allowed to consume sugar from two years old to 10 years old.

我之前和一些朋友讨论过这个问题。

I was having a conversation about this with some of my friends.

如果我直到十岁才尝过糖，那当我去朋友家第一次看到奥利奥时，我可能会直接晕过去。

If I never tried sugar till I was 10 years old, what I would go you'd go to a friend's house and you'd see an Oreo for the first time and you would just faint.

这真有意思。

So it is interesting.

我无法想象直到十岁才接触或尝到糖是什么感觉。

I can't imagine not encountering sugar or trying sugar till 10.

显然，从营养角度来看这可能是正确的做法，但从社会角度看，这对孩子们的饮食和消费习惯来说是一个巨大的改变。

Obviously, it's probably the right nutritional thing to do, but just socially, that's just a pretty big change when it comes to what kids will be eating and consuming.

好吧。

Alright.

我们先短暂休息一下，然后回来介绍尼尔的数据。

We're gonna take a quick break and come back with Neil's numbers.

尼尔，我只是通过在Public上查看我的投资组合，就大大改善了我的晨间习惯。

Neil, my morning routine got a lot better just by checking my portfolio on public.

我也是。

Same.

在Public上，你可以构建一个包含股票、债券、期权、加密货币以及现在新增的生成性资产的多资产投资组合，这些资产能让你用人工智能将任何想法转化为可投资的指数。

On public, you can build a multi asset portfolio of stocks, bonds, options, crypto, and now generated assets, which allow you to turn any idea into an investable index with AI.

从拥有高自由现金流的可再生能源公司，到年收入增长20%的半导体供应商，你只需输入任何提示，就能让AI为你工作。

From renewable energy companies with high free cash flow to semiconductor suppliers growing revenue 20% year over year, you can literally type any prompt and put the AI to work.

然后你只需点击几下就能完成投资。

Then you can invest in a few clicks.

生成性资产就像拥有无限可能的ETF。

Generated assets are like ETFs with infinite possibilities.

前往 public.com/morningbrew 开始使用，当你转移投资组合时，可获得无上限的1%奖励。

Get started at public.com/morningbrew and earn an uncapped 1% bonus when you transfer your portfolio.

这是 public.com/morningbrew。

That's public.com/morningbrew.

由 Public Investing 赞助。

Paid for by Public Investing.

完整披露见播客描述。

Full disclosures in podcast description.

欢迎来到尼尔的数据，这个环节我会分享本周新闻中的三个数据，让你变成一个令人厌烦的万事通。

Welcome to Neil's Numbers, the segment where I share three stats from the week's news that will turn you into an insufferable know it all.

对于我的第一个数据，如果你觉得生活负担沉重，不妨试试中西部。

For my first number, if you're having trouble affording life, try the Midwest.

美国银行研究所表示，拥有Culver's和凯特琳·克拉克的这片地区是美国的价值洼地，房价低于平均水平，工资增长强劲。

The region home to Culver's and Caitlin Clark is the value play of The United States, the Bank of America Institute says, featuring lower than average home prices and strong wage growth.

《华尔街日报》报道称，中西部地区的现有房屋中位售价为31.9万美元，低于全国40.9万美元的平均水平。

The Midwest has the lowest median sales price for existing homes of anywhere in the country at 319,000 versus 409,000 nationwide, writes the Wall Street Journal.

美国主要中西部城市的租金也低于全国中位数，而收入增长速度则快于其他地区。

Rents in major Midwestern cities are also lower than the national median, while incomes have been increasing at a faster clip than in other regions.

以中西部的魅力为例——我想这辈子没人说过这句话——看看威斯康星州从奥什科什到格林贝的这六个县。

For an example of the Midwest allure, and I don't think anyone has ever said that in their life, look at these six counties in Wisconsin from Oshkosh to Green Bay.

在那里，七户家庭中就有一户将超过30%的收入用于住房支出，而全美平均水平是五分之一。

There, one homeowner in seven spends above 30% of their income on shelter costs compared to one in five nationwide.

与此同时，由于制造业实力强劲，当地人的收入高于全国平均水平，制造业岗位占比超过全国平均水平的两倍。

Meanwhile, people are bringing home more money than the national average thanks to a strong manufacturing presence, which accounts for more than twice the share of jobs than it does across the country.

生活在中西部意味着，虽然你无法靠近海洋，但你依然能享受到生活中的美好事物。

Living in the Midwest means even though you don't have access to the ocean, you do have access to the nicer things in life.

由于收入更高、住房成本更低，中西部居民在非必需品上的支出超过美国其他地区的居民，这一点从美国银行的卡片数据中可见一斑。

With higher incomes and lower housing costs, people in the Midwest are spending more on discretionary items than Americans living elsewhere as shown by Bank of America card data.

托比，我刚刚是不是让你爱上中西部了？

Toby, did I just sell you on the Midwest?

嗯，你中间那段话其实有点贬低它。

Well, you kinda bashed it in the middle there.

我看到来自中西部的提醒了。

I see some alert from the Midwest.

当然。

Absolutely.

比如， affordability 是吸引人们前往中西部的首要因素。

Like, affordability is the number one thing that is drawing people to the Midwest.

我还想补充一些来自Zillow的额外数据，他们刚刚根据页面浏览量、房价趋势以及房屋成交速度对住房市场进行了排名，结果显示中西部地区在这些数据中同样占据绝对主导地位。

I do wanna toss in some additional data from Zillow too who just ranked housing markets by page view activity, home price trends, speed at which homes go under contract to find which markets are the hottest right now in the Midwest absolutely dominates their data as well.

去年全美最受欢迎的住房市场实际上是伊利诺伊州的罗克福德。

The number one most popular housing market in the country last year was Rockford, Illinois, actually.

这个排名比前一年上升了两位。

It's up from two the year prior.

在前十名市场中，有五个来自中西部。

And the top 10 markets, five of them are from the Midwest.

这些市场包括罗克福德、密歇根州的迪尔伯恩、俄亥俄州的托莱多和印第安纳州的南本德。

Those include Rockford, Dearborn, Michigan, Toledo, Ohio, South Bend, Indiana.

所以你完全正确。

So you are absolutely right.

数据显示，人们正在问：我在哪里能最负担得起生活？

The data is reflecting this that people are saying, where can I afford life the most?

而答案很可能在中西部。

And it's probably in the Midwest.

如果还不清楚的话，我完全支持中西部。

I'm I'm all in on the Midwest if that if it wasn't clear.

好的。

Alright.

接下来，我提到的领域之一是美国增长最快、规模最大的行业之一：青少年体育。

For my next number, one of the biggest fastest growing industries in The United States is youth sports.

根据阿斯彭研究所的一项调查，2019年至2024年间，家庭在青少年体育上的支出增长了46%，达到每年400亿美元。

According to an Aspen Institute survey, family spending on youth sports jumped 46% between 2019 and 2024 to hit $40,000,000,000 a year.

为了说明这个数字的意义，这超过了NFL和NBA的总收入之和，大约是去年国内票房收入的四倍半。

Now to put that into context, that's more than the revenues of the NFL and NBA combined and about four and a half times domestic box office sales last year.

家庭平均每年为一个孩子的主要运动项目花费超过1000美元，但另一项分析发现，青少年俱乐部活动的年均花费在3000至5000美元之间。

Families spent an average of over $1,000 annually on one child's primary sport, though another analysis has found that the average youth club activity requires 3,000 to $5,000 a year.

有些联赛仅为了参加选拔赛，就需要支付高达50美元的费用。

For some leagues, you need to pay up to $50 just for the opportunity to try out.

参与并奔波于日益高端的联赛，给那些认为孩子是下一个库珀·弗拉格的父母带来了经济压力。

Competing and traveling for increasingly bougie leagues are putting financial strain on parents who think their kid is the next Cooper flag.

许多人转向众筹平台，以支付棒球锦标赛的费用。

Many have turned to crowdfunding sites to help them pay for baseball tournaments.

GoFundMe表示，2025年竞技型旅行是最大的体育筹款类别。

GoFundMe said that competitive travel was the top sports fundraising cause in 2025.

纽约人寿的一项调查发现，五分之一的家长表示，经济压力导致他们减少了孩子参与体育活动，甚至完全停止了。

And a New York Life survey found that one in five parents said money concerns caused them to reduce or drop their child's participation in sports.

托比，许多人将责任归咎于华尔街的介入，正是它把原本属于本地休闲联赛和志愿教练的领域，变成了一个由私募股权支持、追求利润的庞然大物。

Toby, many blame the entrance of Wall Street for turning what used to be the domain of local rec leagues and volunteer coaches into a private equity backed pay to play profit hungry behemoth.

我的意思是，很多人宁愿特朗普在Truth Social上发帖说‘把华尔街赶出青少年体育’，也不愿说‘把华尔街赶出房地产行业’，因为任何有孩子的人，或者任何曾经打过体育的人，都知道这是一个重大问题。

I mean, a lot of people would rather Trump post on Truth Social like, hey, let's get Wall Street out of youth sports rather than out of the housing industry because anyone who has a kid or anyone who's played sports knows that this is a massive issue.

只是这个行业中吸引到的资金量就非常巨大。

Just the money that has been attracted in this industry.

我的意思是，橄榄球联盟层面正在发生整合。

I mean, there is consolidation happening at the flag football league level.

对冲基金巨头乔什·哈里斯最近收购了200个青少年旗式橄榄球联盟，这句话听起来简直疯狂。

Josh Harris, who's a big hedge fund manager, recently rolled up 200 youth flag football leagues, which is just a crazy sentence to say.

然后迪克体育用品投资了这家企业，以1.2亿美元收购了少数股权。

And then Dick's Sporting Goods invested in that entity, paid a $120,000,000 for a minority stake.

这就说明了这里涉及的资金规模有多大。

So that just shows you the scale of the money at play here.

最糟糕的是，所有人都知道这个体系已经崩溃了。

And the worst part is everyone knows that the system is broken.

这对孩子们的运动发展可能也不利，因为现在这些逐利的体育联盟正在把孩子从休闲联赛中拉走，告诉他们从二年级就开始专注参加旅行棒球。

It's probably not good for the kids and their athletic development either because what you're doing now is seeing these money grabbing sports leagues bring kids out of rec leagues and tell them to, hey, focus on travel baseball from sometimes as young as second grade.

有研究表明，当孩子过早地专攻某一项运动时，反而会损害整体表现。

And there is research that says when you do that, when you enter early sport specification as a kid, it hurts performance overall.

你应该多参与几种运动。

You need to play a lot of sports.

我的意思是，你小时候打过网球，也打过棒球，做过所有这些事，但现在你每年要为每个联赛支付一千美元，对吧。

I mean, you were a tennis player, you were a baseball player, you did all of these things growing up, but now when you're paying, you know, a thousand dollars for each league Mhmm.

你的父母很可能会对你说，你得选一个，因为我们没法支持你同时参加所有项目。

Your parents are probably saying, you gotta choose one of these because we can't support you in all of them.

是的。

Yeah.

我现在要去看《小巨人》来缓解一下对青少年体育现状的失望。

I'm gonna go watch Little Giants now as an antidote for for what's happened to youth sports.

我们需要回到那种纯粹的状态。

We need to go back to that purity.

好吧。

Okay.

我的最后一个数字献给所有千禧一代。

My final number goes out to all the millennials.

还记得你曾经在地下室电脑上无尽玩过的网页游戏《RuneScape》吗？

Remember RuneScape, the browser game you used to play endlessly on your basement computer?

嗯，它现在比以往任何时候都更受欢迎。

Well, it's more popular than ever.

到2025年，RuneScape的付费会员已超过一百万，较年初增长了30%。

In 2025, RuneScape grew its paid members to well over 1,000,000, a jump of 30% from the start of the year.

它甚至一度有24万人同时在线登录，创下了该游戏历史上同时在线玩家的最高纪录。

It also, at one point, had 240,000 people logging in at the same time, a record number of simultaneous players in its history.

据工作室负责人称，它是全球增长最快的大型多人在线游戏。

According to the studio head, it's the fastest growing massively multiplayer online game in the world.

对于一款本周早些时候刚迎来25周年纪念的游戏来说，这种持久的生命力令人惊叹。

And that's remarkable longevity for a game that turned 25 years old earlier this week.

兴趣激增当然源于怀旧，但也因为RuneScape明智地没有偏离其最初的根基——正是这些元素让它最初大获成功。

The spike in interest is driven by nostalgia, of course, but also because RuneScape has been smart about not straying from its roots, what made it a huge hit in the first place.

如今，RuneScape实际上变成了两款不同的游戏。

These days, RuneScape is actually two different games.

其中一款是现代化版本，名为《RuneScape》。

One is a modern take called RuneScape.

另一个叫做《旧版跑跑》，它严格遵循原版设计。

The other is called Old School RuneScape, which adheres closely to the original.

在这些将大量玩家聚集在虚拟世界中完成任务、交流甚至战斗的游戏中，跑跑已不再是领头羊。

RuneScape is no longer the top of the food chain when it comes to these kinds of games, which bring together tons of people into a virtual world where they can complete tasks, communicate, or even wage battle.

例如，《魔兽世界》每天有超过一百万玩家，而《最终幻想》的排名更高。

World of Warcraft, for instance, has more than 1,000,000 players a day, and Final Fantasy is higher in the rankings.

不过，托比，你正试着加入公会吗？

Still, Toby, you trying to clan up?

我确实在试着加入公会。

I am trying to clan up.

当这个新闻一出来，我立刻去查看我的旧账号还在不在。

And you know what I did as soon as this story hit the newswires is see if my old account was still around.

我成功登录了小时候玩过的那个旧账号，这真是令人怀念的瞬间。

I was able to log back into my old account that I was playing on when I was a kid growing up, which is just a crazy hit of nostalgia.

正如你所说，这正是推动这一切的主要原因。

That, as you said, that is driving a lot of this.

我没有自己想象中那么厉害。

I was not as good as I thought I was.

我想，这就是我小时候引以为傲的东西，但你能重新连接到童年时的自己，正是这款游戏如此吸引人的原因之一。

I go, this is what I was so proud of when I was a kid, But the fact that you can reconnect to your kid inner child at all in terms of this game is one of the reasons why it's so appealing.

在现代游戏标准下，他们还做出了一些颇具风险的以玩家为中心的决策。

They've also made a couple of kind of risky player first decisions when it comes to modern gaming standards.

首先，他们将微交易交由玩家投票决定。

One, they put microtransactions to a vote.

微交易是指你可以进行的一些小额游戏内购买，通常能帮助你更快升级。

Microtransactions are these little in game purchases you can make that usually help you level up a little quicker.

这极具争议。

Very controversial.

人们说这纯粹是在利用玩家。

People say that it's just preying on the gaming industry.

但对于这些游戏公司来说，却非常赚钱。

But very lucrative for these gaming companies.

这非常赚钱。

It's extremely lucrative.

如果你是一家游戏公司，你一定会保留微交易，以最大化你的利润。

If you were a gaming company, you would absolutely keep micro transactions in the game to maximize your profits.

相反，他们向玩家群体征求意见：你们想要这个吗？

Instead, they went to their player base to say, do you want this?

你们喜欢这个吗？

Do you like this?

当然，玩家们压倒性地投了反对票，因此他们从游戏中移除了微交易。

Of course, they overwhelmingly voted no, so they removed micro transactions from the game.

这与整个行业的主流做法背道而驰。

That is a massive zag while the rest of the industry zig.

正是这些细微之处累积了玩家群体的大量好感，这也是我认为它能如此持久的原因。

So just these little things that have accrued a lot of goodwill from their player base, which is why I think it's had such long longevity.

好吧。

Alright.

让我们冲刺到最后，带来一些最新头条。

Let's sprint to the finish with some final headlines.

特朗普总统昨天在一系列Truth Social帖子中猛烈抨击了美国国防承包商，指责他们靠美国政府的钱变得臃肿富有。

President Trump lit into US defense contractors in a series of truth social posts yesterday, accusing them of getting fat and rich on the American government's dime.

特朗普写道，国防承包商目前正在向股东发放巨额股息并进行大规模股票回购，却牺牲了对工厂和设备的投资。他还呼吁将高管薪酬限制在每年500万美元。

Trump wrote, defense contractors are currently issuing massive dividends to their shareholders and massive stock buybacks at the expense and detriment of investing in plants and equipment, Also calling on them to limit executive pay to $5,000,000 a year.

他特别点名了雷神公司，称这家武器制造商对国防部的需求最不响应。

He singled out Raytheon, calling the weapons maker the least responsive to the needs of the Department of War.

几个小时后，特朗普将这些言论付诸行动。

A few hours later, Trump put those words into action.

他签署了一项行政命令，敦促国防承包商停止进行股票回购和股息分配，转而加大对基础设施和生产能力的投资。

He signed an executive order putting pressure on defense contractors to stop conducting stock buybacks and dividends and boost their investments in infrastructure and production capacity.

2023年和2024年，诺斯罗普·格鲁曼、洛克希德·马丁和雷神母公司RTX等主要国防承包商累计在股息和股票回购上花费了近500亿美元，而同期在研发和资本支出上的投入仅为390亿美元。

Defense primes like Northrop Grumman, Lockheed Martin, and Raytheon parent RTX spent almost $50,000,000,000 cumulatively on dividends and share buybacks in 2023 and 2024 compared to 39,000,000,000 on r and d and capex over the same period.

说到股票，你可能会认为特朗普的言论会打压国防承包商的股价，但今天早上，在总统提议将军费预算从1万亿美元扩大到1.5万亿美元后，这些公司的股价却全线飙升。

And speaking of stocks, you might think that Trump's comments would have knocked the shares of defense contractors, but they are all surging this morning after the president proposed expanding the military budget from $1,000,000,000,000 to 1,500,000,000,000.0.

最后，大型未来科技盛会CES正在拉斯维加斯举行，机器人和人工智能设备成为焦点，为我们展现了未来的模样。

And finally, the big futuristic electronic show, CES, is going down in Vegas right now while robotics and AI devices are grabbing headlines and giving a glimpse of the future.

此外，还展出了一系列非常古怪的东西。

There's also a bunch of really weird stuff that's been on display.

《The Verge》整理了一份他们最爱的奇葩发明清单，包括一款兼具台灯功能的吹风机、一款售价399美元的振动厨师刀（能帮你更好地切番茄）、一对可以捏合在一起变成扬声器的头戴式耳机，当然，还有一款经久不衰的电击设备，帮助男性应对早泄问题。

The Verge put together a list of some of their favorite oddball inventions, including a hairdryer that doubles as a lamp, a $399 vibrating chef's knife that helps you slice tomatoes better, a pair of over the ear headphones that you can smush together to form a speaker, and, of course, a perennial zapping device that helps guys deal with premature ejaculation.

CES上全面展示了未来，尼克。

The future is on full display in CES, Nick.

我们来聊聊这把刀。

Let's talk about this knife.

这是一把售价399美元的厨师刀。

So it's $399 chef's knife.

它看起来和普通刀具一模一样，但内部嵌入了陶瓷晶体，每秒振动超过三万次。

It looks exactly like a knife, but it has these ceramic crystals in it that vibrate more than 30,000 times per second.

该公司表示，你实际上能看见或感受到这种振动，因为振动频率极高、幅度极小，肉眼根本无法察觉。

And the company says that you can actually see or feel that the vibration is actually happening because it's just so fast and small that it's undetectable to the naked eye.

但它承诺能将你切割任何东西所需的努力减少50%。

But it does promise that it could cut your effort by 50% in cutting anything.

所以作为一个家庭厨师，我对这个产品很感兴趣。

So it's something that as a home chef I am interested in.

但当审视CES的全貌时，这里的主要主题似乎是人形机器人。

But when looking at the scope of CS it does seem like the main theme here is humanoid robots.

所有这些公司都希望你拥有自己的R2D2，而LG电子可能是其中的亮点。

All these companies want you to have your own R2D2 and LG Electronics was probably the highlight of this.

他们推出了名为Cloyd的新机器人，并进行了现场演示，试图把东西放进洗衣机，但完成得非常缓慢。

They rolled out their new robot named Cloyd, and they had to do a live demo where they tried to put something in the wash, and it did so very slowly.

但这个行业认为，由人形机器人在家中帮你完成不想做的家务，比如洗衣服、把东西放进洗碗机，才是未来。

But this industry thinks that humanoid robots in your home doing tasks that you don't want to do, like doing the laundry, like putting stuff in the dishwasher, is the future.

埃隆·马斯克本人也表示，特斯拉的人形机器人Optimus将成为有史以来销量最大的产品。

And Elon Musk himself has said that Tesla's humanoid robot Optimus is going to be, you know, the largest product ever sold.

所以我们拭目以待，但人形机器人确实是当前的主旋律。

So we'll see about that, but it does seem like humanoid robots is the main theme.

给类人机器人配上振动厨师刀，这样就能把你的工作量减少到0%。

Give the humanoid robots the vibrating chef's knife, and then it cuts your workload to 0%.

我不清楚你在厨房切东西时投入了多少精力，但将这些精力减少50%真的算得上是显著的效率提升吗？

I don't know how much effort are you putting into cutting anything in the kitchen that reducing that effort by 50% would be a meaningful effort output.

我见过你的刀工。

I've seen your knife skills.

你知道的，你动作挺快的。

You know, you're kinda moving pretty quickly.

我并不

I don't

你觉得不需要什么振动晶体。

think you need any vibrational crystals.

嗯，我很感谢你这么说。

Well, I appreciate that.

好吧。

Alright.

就这样了

That is all

我们的时间到了。

the time we have.

非常感谢您今天早上与我们相伴，祝您周四愉快。

Thanks so much for starting your morning with us, and have a wonderful Thursday.

如果您想与我们联系，请发送邮件至 morningbrewdaily@morningbrew.com，或在 Instagram 上私信我们 @m b daily show。

If you wanna get in touch, fire up an email to morningbrewdaily@morningbrew.com or DM us on Instagram at m b daily show.

让我们播放片尾字幕。

Let's roll the credits.

艾米莉·米利龙是我们执行制片人。

Emily Milliron is our executive producer.

雷蒙德·娄是我们制片人。

Raymond Lou is our producer.

我们的助理制片人是奥利维亚·格雷厄姆和奥利维亚·莱克。

Our associate producers are Olivia Graham and Olivia Lake.

发型和化妆团队显然觉得玩《 RuneScape 》比来上班更重要。

Hair and makeup apparently thinks playing RuneScape is more important than coming into work.

德文·埃默里是我们公司的总裁，我们的节目由Morning Brew制作。

Devin Emery is our president, and our show is a production of Morning Brew.

很棒的节目，丹尼尔。

Great show, Daniel.

我们明天再播一遍。

Let's run it back tomorrow.